Category: Finance

  • MIL-OSI Asia-Pac: President Lai meets Minister of State at UK Department for Business and Trade Douglas Alexander  

    Source: Republic of China Taiwan

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    2025-06-27
    President Lai confers decoration on former Japan-Taiwan Exchange Association Chairman Ohashi Mitsuo
    On the morning of June 27, President Lai Ching-te conferred the Order of Brilliant Star with Grand Cordon upon former Chairman of the Japan-Taiwan Exchange Association Ohashi Mitsuo in recognition of his firm convictions and tireless efforts in promoting Taiwan-Japan exchanges. In remarks, President Lai stated that Chairman Ohashi cares for Taiwan like a family member, and expressed hope that Taiwan and Japan continue to deepen their partnership, bring about the early signing of an economic partnership agreement (EPA), and jointly build secure and stable non-red supply chains as we boost the resilience and competitiveness of our economies and jointly safeguard the values of freedom and democracy. A translation of President Lai’s remarks follows: Every meeting I have with Chairman Ohashi, with whom I have worked side by side for many years, is warm and friendly. I recall that when we met last year, Chairman Ohashi said that he often thinks about what Japan can do for Taiwan and what Taiwan can do for Japan, and that it is that mutual concern that makes us so close. This was a truly moving statement illustrating the relationship between Taiwan and Japan. Chairman Ohashi has also said numerous times that our bilateral relations may very well be the best in the entire world, and that in fact they may serve as a model to other countries. Indeed, Chairman Ohashi is himself an exemplary model for friendly relations between Taiwan and Japan. His spirit of always working tirelessly to promote Taiwan-Japan exchanges is truly admirable. Assuming the position of chairman of the Japan-Taiwan Exchange Association in 2011, he served during the terms of former Presidents Ma Ying-jeou and Tsai Ing-wen, continuously making positive contributions to Taiwan-Japan relations. Over these past 14 years, Taiwan and Japan have signed over 50 major agreements, spanning the economy and trade, fisheries, and taxes, among other areas. In 2017, the Taiwan-Japan Relations Association and the Japan-Taiwan Exchange Association underwent name changes, strengthening the essence and significance of Taiwan-Japan relations. These great achievements were all made possible thanks to the firm convictions and tireless efforts of Chairman Ohashi. On behalf of the people of Taiwan, I am delighted to confer upon Chairman Ohashi the Order of Brilliant Star with Grand Cordon to express our deepest thanks for his outstanding contributions. Chairman Ohashi is not just a good friend of Taiwan, but someone who cares for Taiwan like a family member. When a major earthquake struck in 2016, he personally went to Tainan to assess the situation and meet with the city government. This outpouring of friendship and support across borders was deeply moving. As we look to the future, I hope that Taiwan and Japan can continue to deepen our partnership. In addition to bringing about the early signing of an EPA, I also hope that we can expand collaboration in key areas such as semiconductors, energy, and AI, continue building secure and stable non-red supply chains, and boost the resilience and competitiveness of our economies as well as peace and stability in the Indo-Pacific. As Chairman Ohashi has said, the close bilateral relationship between Taiwan and Japan is one the world can be proud of. I would like to thank him once again for his contributions to deepening Taiwan-Japan ties. Taiwan will continue to forge ahead side by side with Japan, jointly safeguarding the values of freedom and democracy and mutually advancing prosperous development. I wish Chairman Ohashi good health, happiness, peace, and success in his future endeavors, and invite him to return to Taiwan often to visit old friends. Chairman Ohashi then delivered remarks, first thanking President Lai for his kind words. He stated that the Taiwan-Japan relationship is not only worthy of praise; it can also serve as a superb model in the world for bilateral relations that is worthy of study by other countries. He added that this is the result of the collective efforts of President Lai as well as many other individuals. Chairman Ohashi said that the current international situation is rather severe, with wars and conflicts occurring between many neighboring countries. He said that there is a growing trend of nuclear weapon proliferation, emphasizing that use of such weapons would cause significant harm between nations. He also pointed out that some countries even use nuclear weapons as a threat, leading to instability and impacting the global situation. Chairman Ohashi said that neither Taiwan nor Japan possesses nuclear weapons, which is something to be proud of. That is why, he said, we can declare that a world without nuclear weapons is a peaceful world. He also mentioned that during his tenure as chairman of the Japan-Taiwan Exchange Association, he consistently upheld this principle in his work. Chairman Ohashi said that the mission of the World Federalist Movement (WFM) is to promote world peace. He said that the WFM has branches in countries worldwide, with the WFM of Japan being one of the most prominent, and that it also aspires to achieve the goal of world peace. Having served as chairman of the Japan-Taiwan Exchange Association for 14 years, he said, he is now stepping down from this role and will serve as the chairman of the WFM of Japan, aiming to promote peace in countries around the world. Chairman Ohashi said that both Taiwan and Japan can take pride in our friendly bilateral relationship, emphasizing that if the good relationship between Japan and Taiwan could be offered as an example to countries around the world, there would be no more wars. He expressed his sincere hope that under President Lai’s leadership, Taiwan and Japan can work together to jointly promote world peace. Also in attendance at the ceremony was Japan-Taiwan Exchange Association Taipei Office Chief Representative Katayama Kazuyuki.

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    2025-06-25
    President Lai meets Japan’s former Economic Security Minister Kobayashi Takayuki
    On the afternoon of June 25, President Lai Ching-te met with Kobayashi Takayuki, Japan’s former economic security minister and a current member of the House of Representatives. In remarks, President Lai expressed hope to combine the strengths of the democratic community to build resilient, reliable non-red supply chains, and ensure a resilient global economy and sustainable development. He also expressed hope that Taiwan and Japan can bring about the early signing of an economic partnership agreement (EPA), and that Japan will continue supporting Taiwan’s bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), enhancing our own bilateral partnership, as doing so would create win-win situations and further contribute to regional economic security and stability. The following is a translation of President Lai’s remarks: I welcome Representative Kobayashi back to Taiwan for another visit after seven years. During his last visit, he was with a delegation from the Liberal Democratic Party (LDP) Youth Division, and we met at the Executive Yuan. I am very happy to see him again today. Representative Kobayashi has long paid close attention to matters involving economic security, technological innovation, and aerospace policy. He also made a stunning debut in last year’s LDP presidential election, showing that he is truly a rising star and an influential figure in the political sphere. With this visit, Representative Kobayashi is demonstrating support for Taiwan with concrete action, which is very meaningful. Taiwan and Japan are both part of the first island chain’s key line of defense. We thank the many Japanese prime ministers, including former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as current Prime Minister Ishiba Shigeru, for the many times they have highlighted the importance of peace and stability in the Taiwan Strait at important international venues, and for expressing opposition to the use of force or coercion to unilaterally change the status quo in the Taiwan Strait. I hope that Taiwan and Japan can engage in more cooperation and exchanges to promote peace and prosperity in the Indo-Pacific region in all aspects. In particular, China in recent years has been actively expanding its red supply chains, which threaten the global free trade system and advanced technology markets. Taiwan hopes to combine the strengths of the democratic community to build resilient, reliable non-red supply chains. In the semiconductor industry, for example, Taiwan has excellent advanced manufacturing capabilities, while Japan plays an important role in materials, equipment, and key technologies. I am confident that, given the experience that Taiwan and Japan have in cooperating, we can build an industrial supply chain composed of democratic nations to ensure a resilient global economy and sustainable development. I hope that Taiwan and Japan can bring about the early signing of an EPA in order to deepen our bilateral trade and investment exchanges and cooperation. I also hope that Japan will continue supporting Taiwan’s bid to join the CPTPP, enhancing our own bilateral partnership, as doing so would create win-win situations and further contribute to regional economic security and stability. Taiwan and Japan are democratic partners that share the values of freedom, democracy, and respect for human rights. I firmly believe that so long as we work together, we can certainly address the challenges posed by authoritarianism, and bring prosperity and development to the Indo-Pacific region. In closing, I welcome Representative Kobayashi once again. I am certain that this visit will help enhance Taiwan-Japan exchanges and deepen our friendship. Representative Kobayashi then delivered remarks, first thanking President Lai for taking the time to meet with him, and noting that this was his second visit to Taiwan following a trip seven years prior, when he came with his good friend from college and then-Director of the LDP Youth Division Suzuki Keisuke, now Japan’s minister of justice. Representative Kobayashi mentioned a Japanese kanji that he is very fond of – 絆 (kizuna) – which means “deep ties of friendship.” He emphasized that a key purpose of this visit to Taiwan was to reiterate the deep ties of friendship between Taiwan and Japan. In addition to deep historical ties, he said, Taiwan and Japan also enjoy a like-minded partnership in terms of economic, personnel, and friendship-oriented exchanges. He went on to say that at the strategic level, Taiwan and Japan also have deep ties of friendship, and that for Japan, it is strategically important that Taiwan not be isolated under any circumstances. Representative Kobayashi emphasized that cooperation between Taiwan and Japan, and even cooperation among Taiwan, Japan, and the United States, are more important now than ever, and that another important focus of this visit is the non-red supply chains referred to earlier by President Lai. He said that as Japan’s first economic security minister and the person currently in charge of the LDP’s policy on economic security, he is acutely aware of the important impact of economic security on national interests, and therefore looks forward to further exchanging views regarding Taiwan’s concrete steps to build non-red supply chains. The delegation was accompanied to the Presidential Office by Japan-Taiwan Exchange Association Deputy Representative Takaba Yo.

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    2025-06-16
    President Lai meets delegation led by Representative Bera, co-chair of US Congressional Taiwan Caucus
    On the morning of June 16, President Lai Ching-te met with a delegation led by Representative Ami Bera, co-chair of the US Congressional Taiwan Caucus. In remarks, President Lai thanked the representatives in Congress for actively voicing support for Taiwan and proposing numerous Taiwan-friendly initiatives to strengthen Taiwan-US ties, helping expand Taiwan’s international space and continuing to place focus on peace and stability across the Taiwan Strait. The president said that we will continue to strengthen bilateral investment and industrial cooperation and create a more comprehensive environment for economic and trade exchanges to jointly enhance economic and developmental resilience. A translation of President Lai’s remarks follows: I am delighted to meet with the delegation and welcome Congressman Bera back to the Presidential Office. Last January, he visited after the presidential election, demonstrating the steadfast backing of the US Congress for democratic Taiwan. This time, as head of a delegation of new members of the House Armed Services Committee and the Foreign Affairs Committee, he is continuing to foster US congressional support for Taiwan. On behalf of the people of Taiwan, I extend a sincere welcome to Congressman Bera and all our esteemed guests. Over the years, staunch bipartisan US congressional backing of Taiwan has been a key force for steadily advancing our bilateral relations. I thank the representatives in Congress for actively voicing support for Taiwan and proposing numerous Taiwan-friendly initiatives, thereby strengthening Taiwan-US ties, helping expand Taiwan’s international space, and continuing to place focus on peace and stability across the Taiwan Strait. I want to emphasize that Taiwan has an unwavering determination to safeguard peace and stability in the Indo-Pacific region. Over the past year, the government and private sector have been working together to enhance Taiwan’s whole-of-society defense resilience and accelerate reform of national defense. The government is also prioritizing special budget allocations to ensure that our defense budget exceeds three percent of GDP this year. I hope that Taiwan-US security cooperation will evolve beyond military procurement to a partnership that encompasses joint research and development and joint production, further strengthening cooperation and exchange in the defense industry. Regarding industrial exchanges, last month, Minister of Foreign Affairs Lin Chia-lung (林佳龍) and Minister of Economic Affairs Kuo Jyh-huei (郭智輝) each visited Texas to see firsthand Taiwan-US collaboration in AI and semiconductors. And the delegation led by Executive Yuan Secretary-General Kung Ming-hsin (龔明鑫) sent by Taiwan to this year’s SelectUSA Investment Summit in Washington, DC, was again the largest of those attending. All of this demonstrates Taiwan’s commitment to working alongside the US to create mutual prosperity. In the future, we will continue to strengthen bilateral investment and industrial cooperation. And I hope that the legislation addressing the issue of Taiwan-US double taxation will become law this year. I want to thank Congressman Bera for co-leading a joint letter last November signed by over 100 members of Congress calling for such legislation. I believe that by creating a more comprehensive environment for economic and trade exchanges, Taiwan and the US can enhance economic and developmental resilience. In closing, I thank you all for making the long journey here to advance Taiwan-US relations. Let us continue working together to promote the prosperous development of this important partnership. Congressman Bera then delivered remarks, saying that on behalf of the delegation, it is an honor for him to be here once again, it being last January that he and Congressman Mario Díaz-Balart visited and congratulated President Lai on his election victory, noting that theirs was the first congressional delegation to do so. Congressman Bera said that this is an important time, not just for the US and Taiwan relationship, but for all relationships around the world. When we look at conflicts in Europe and in the Middle East, he said, it is incumbent upon democracies to hold the peace in Asia. He emphasized that is why it is important for them to bring a delegation of members of the Foreign Affairs Committee and the Armed Services Committee, adding that he believes for all of them it is their first trip to Taiwan.  Congressman Bera said that while this is a delegation of Democratic members of Congress, in a bipartisan way all of Congress continues to support the people of Taiwan. As such, in this visit he brings support from his co-chairs on the Taiwan caucus, Congressman Díaz-Balart and Congressman Andy Barr. He also took a moment to recognize the passing of Congressman Gerald Connolly, who was a longtime friend of Taiwan and one of their co-chairs on the caucus. Congressman Bera mentioned that there is always a special bond between himself and President Lai because they are both doctors, and as doctors, their profession is about healing, keeping the peace, and making sure everybody has a bright, prosperous future. In closing, he highlighted that it is in that spirit that their delegation visits with the president. The delegation also included members of the US Congress Gabe Amo, Wesley Bell, Julie Johnson, Sarah McBride, and Johnny Olszewski.

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    2025-06-13
    President Lai meets delegation led by French National Assembly Taiwan Friendship Group Chair Marie-Noëlle Battistel
    On the morning of June 12, President Lai Ching-te met a delegation led by Marie-Noëlle Battistel, chair of the French National Assembly’s Taiwan Friendship Group. In remarks, President Lai thanked the National Assembly for its long-term support for Taiwan’s international participation and for upholding security in the Taiwan Strait, helping make France the first major country in the world to enact legislation to uphold freedom of navigation in the Taiwan Strait. The president also said that exchanges and cooperation between Taiwan and France are becoming more frequent, and that he hopes this visit by the Taiwan Friendship Group will inject new momentum into Taiwan-France relations and help build closer partnerships in the economy, trade, energy, and digital security.  A translation of President Lai’s remarks follows: First, I would like to welcome Chair Battistel, who is once again leading a visiting delegation. Last year, Chair Battistel co-led a delegation to attend the inauguration ceremony for myself and Vice President Bi-khim Hsiao. This is her fourth visit, and first as chair of the Taiwan Friendship Group, which makes it especially meaningful. This delegation’s visit demonstrates strong support for Taiwan, and on behalf of the people of Taiwan, I want to express my sincerest welcome and thanks. France is a pioneer in promoting free and democratic values. These are values that Taiwan cherishes and is working hard to defend. I want to express gratitude to the French Parliament for their long-term support for Taiwan’s international participation, and for upholding security in the Taiwan Strait. The French Parliament’s two chambers have continued to strongly support Taiwan, with the passage of a resolution supporting Taiwan’s participation in international organizations in 2021, as well as the passage of the seven-year Military Programming Law in 2023. This has made France the first major country in the world to enact legislation to uphold freedom of navigation in the Taiwan Strait. Through it all, the Taiwan Friendship Group has played a key role, and I want to thank all of our distinguished guests for their efforts. Over the past few years, Taiwan and France have continued to deepen cooperation in areas including the economy, technology, culture, and sports. At the Choose France summit held in Paris last month, Taiwanese and French enterprises also announced they will launch cooperation in the semiconductor and satellite fields. The VivaTech startup exhibition, now being held in France, also has many Taiwanese vendors participating. Exchanges and cooperation between Taiwan and France, whether official or people-to-people, are becoming more and more frequent. I hope that this visit by the Taiwan Friendship Group will inject new momentum into Taiwan-France relations, building closer partnerships in the economy, trade, energy, and digital security.  To address current geopolitical and economic challenges, Taiwan will continue to join forces with France and other like-minded countries to jointly safeguard peace and stability in the Indo-Pacific region, and contribute our concerted efforts to global prosperity and development. Once again, I want to welcome our visitors to Taiwan. I hope to continue our joint efforts to create a more prosperous future for both Taiwan and France.   Chair Battistel then delivered remarks, thanking President Lai for extending this invitation. Last year on May 20, she said, she and her delegation attended the presidential inauguration ceremony, so she was delighted to visit Taiwan once again with the French National Assembly’s Taiwan Friendship Group and bear witness to their friendship with Taiwan. Chair Battistel noted that this visit has given them an opportunity to strengthen Taiwan-France relations in areas including the economy, culture, the humanities, and diplomacy, and conduct exchanges with numerous heads of government agencies and research institutes. It has also been an opportunity, she said, to witness the importance of exchanges and cooperation with Taiwan in areas including energy, semiconductors, youth, and culture, and the impact created by important issues of mutual concern, including AI and disinformation, on the security of many countries. Chair Battistel praised Taiwan for its youth development efforts, and said that under the Taiwan Global Pathfinders Initiative, 30 Taiwanese young people have embarked on a visit to France, with itineraries including the United Nations Ocean Conference and the VivaTech exhibition, as well as the city of Toulouse, which is strategically important for the aerospace industry. Members of the group are also conducting exchanges at the French National Assembly, she said.  Chair Battistel stated that the Taiwan-France partnership is growing closer, and that she hopes to continue to strengthen bilateral exchanges and cooperation, as supporting peace for Taiwan supports peace around the world.  The delegation also included Taiwan Friendship Group Vice Chair Éric Martineau, as well as National Assembly Committee on Foreign Affairs Vice Chair Laetitia Saint-Paul and Deputies Marie-José Allemand and Claudia Rouaux. The delegation was accompanied to the Presidential Office by French Office in Taipei Deputy Director Cléa Le Cardeur.

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    2025-06-05
    President Lai hosts state banquet for President Bernardo Arévalo of Republic of Guatemala  
    At noon on June 5, President Lai Ching-te hosted a state banquet at the Presidential Office for President Bernardo Arévalo of the Republic of Guatemala and his wife. In his remarks, President Lai noted that Taiwan and Guatemala have both undergone an arduous democratization process, and therefore, in face of the continuous expansion of authoritarian influence, must join hands in brotherhood and come together in solidarity to safeguard our hard-earned freedom and democracy. President Lai also expressed hope that both countries will work together and continue to deepen various exchanges and cooperation, taking a friendship that has lasted over 90 years to new heights. A translation of President Lai’s remarks follows: Once again, I would like to offer a warm welcome to President Arévalo and First Lady Lucrecia Peinado, who are leading this delegation to Taiwan. President Arévalo’s previous visit to Taiwan was 31 years ago. Back then, Taiwan did not have direct presidential elections, and the nation was continuing to make progress toward democratization. Today, 31 years later, Taiwan has conducted direct presidential elections eight times, with three transfers of power between political parties. On this visit, I am sure that President Arévalo will gain a deep appreciation for Taiwan’s free and democratic atmosphere.  Taiwan and Guatemala have both undergone an arduous democratization process. A little over 200 years ago, the people of Guatemala took a stand against colonial oppression, seeking national dignity and the freedom of its people. Eighty-one years ago, President Arévalo’s father, Juan José Arévalo, became Guatemala’s first democratically elected president, establishing an important foundation for subsequent democratic development.  Our two peoples have democracy in their blood. Both know the value of freedom and democracy and are willing to take a stand for those values. Therefore, in face of the continuous expansion of authoritarian influence, our two countries must join hands in brotherhood to respond to threats and challenges, and come together in solidarity to safeguard our hard-earned freedom and democracy. I hope that both countries will work together to continue to deepen various exchanges and cooperation, taking a friendship that has lasted over 90 years to new heights. I hope that on this visit, in addition to gaining a deeper understanding of Taiwan’s political, economic, and social development, President Arévalo can also reacquaint himself with the democratic vitality and cultural diversity of Taiwan by sampling various gourmet delicacies and once again experiencing the beauty of our scenery and warmth of our people. Guatemala is a very beautiful country. In the future, I hope to have a chance to personally experience that beauty, explore Mayan civilization, and savor local Guatemalan coffee. In closing, I wish the visiting delegation a smooth and successful trip, and beautiful, unforgettable memories. May President Arévalo enjoy the best of health, and may the diplomatic friendship between our two countries endure. President Arévalo then delivered remarks, stating that at different times and by different means, the people of Taiwan and Guatemala have relentlessly sought to defend freedom and democracy. We share the same expectations, he said, and are walking the right path amid today’s complex international circumstances.  President Arévalo stated that Taiwan and Guatemala are true democratic nations, where the government’s goal is to serve all the people. He noted that this is far from easy under current circumstances, as many authoritarian regimes use their long-term hold on power to safeguard the interests of select groups and neglect the wellbeing of the population as a whole. President Arévalo said that last week Guatemala commemorated the 40th anniversary of its constitution, which was enacted in 1985 and is Guatemala’s ultimate guide, setting the foundation for democracy and clearly outlining the path ahead. He said that over the past 40 years, Guatemala has continued to follow the democratic blueprint established by the constitution and end the civil war so that the nation could make the transition to real democracy. Although more than a few ambitious people have attempted to destroy that process from within, he noted, the people of Guatemala have never given up the pursuit of democracy as an ideal. President Arévalo stated that our two sides’ coming together here is due to such shared values as freedom and democracy as well as the idea of serving all the people. He underlined that the governments of both countries will continue to work hard and provide mutual support to smooth out each other’s path of democracy, freedom, and justice. President Arévalo emphasized that the government of Guatemala will always be Taiwan’s ally, and that he firmly believes Taiwan is Guatemala’s most reliable partner on the path of democracy and economic prosperity and development. The president said he hopes this visit will be the first step towards setting a new course for the governments and peoples of both countries. Also in attendance at the banquet were Guatemala Minister of Foreign Affairs Carlos Ramiro Martínez, Minister of the Economy Gabriela García, and Guatemala Ambassador Luis Raúl Estévez López.  

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    2025-05-20
    President Lai interviewed by Nippon Television and Yomiuri TV
    In a recent interview on Nippon Television’s news zero program, President Lai Ching-te responded to questions from host Mr. Sakurai Sho and Yomiuri TV Shanghai Bureau Chief Watanabe Masayo on topics including reflections on his first year in office, cross-strait relations, China’s military threats, Taiwan-United States relations, and Taiwan-Japan relations. The interview was broadcast on the evening of May 19. During the interview, President Lai stated that China intends to change the world’s rules-based international order, and that if Taiwan were invaded, global supply chains would be disrupted. Therefore, he said, Taiwan will strengthen its national defense, prevent war by preparing for war, and achieve the goal of peace. The president also noted that Taiwan’s purpose for developing drones is based on national security and industrial needs, and that Taiwan hopes to collaborate with Japan. He then reiterated that China’s threats are an international problem, and expressed hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war. Following is the text of the questions and the president’s responses: Q: How do you feel as you are about to round out your first year in office? President Lai: When I was young, I was determined to practice medicine and save lives. When I left medicine to go into politics, I was determined to transform Taiwan. And when I was sworn in as president on May 20 last year, I was determined to strengthen the nation. Time flies, and it has already been a year. Although the process has been very challenging, I am deeply honored to be a part of it. I am also profoundly grateful to our citizens for allowing me the opportunity to give back to our country. The future will certainly be full of more challenges, but I will do everything I can to unite the people and continue strengthening the nation. That is how I am feeling now. Q: We are now coming up on the 80th anniversary of the end of World War II, and over this period, we have often heard that conflict between Taiwan and the mainland is imminent. Do you personally believe that a cross-strait conflict could happen? President Lai: The international community is very much aware that China intends to replace the US and change the world’s rules-based international order, and annexing Taiwan is just the first step. So, as China’s military power grows stronger, some members of the international community are naturally on edge about whether a cross-strait conflict will break out. The international community must certainly do everything in its power to avoid a conflict in the Taiwan Strait; there is too great a cost. Besides causing direct disasters to both Taiwan and China, the impact on the global economy would be even greater, with estimated losses of US$10 trillion from war alone – that is roughly 10 percent of the global GDP. Additionally, 20 percent of global shipping passes through the Taiwan Strait and surrounding waters, so if a conflict breaks out in the strait, other countries including Japan and Korea would suffer a grave impact. For Japan and Korea, a quarter of external transit passes through the Taiwan Strait and surrounding waters, and a third of the various energy resources and minerals shipped back from other countries pass through said areas. If Taiwan were invaded, global supply chains would be disrupted, and therefore conflict in the Taiwan Strait must be avoided. Such a conflict is indeed avoidable. I am very thankful to Prime Minister of Japan Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as US President Donald Trump and former President Joe Biden, and the other G7 leaders, for continuing to emphasize at international venues that peace and stability across the Taiwan Strait are essential components for global security and prosperity. When everyone in the global democratic community works together, stacking up enough strength to make China’s objectives unattainable or to make the cost of invading Taiwan too high for it to bear, a conflict in the strait can naturally be avoided. Q: As you said, President Lai, maintaining peace and stability across the Taiwan Strait is also very important for other countries. How can war be avoided? What sort of countermeasures is Taiwan prepared to take to prevent war? President Lai: As Mr. Sakurai mentioned earlier, we are coming up on the 80th anniversary of the end of WWII. There are many lessons we can take from that war. First is that peace is priceless, and war has no winners. From the tragedies of WWII, there are lessons that humanity should learn. We must pursue peace, and not start wars blindly, as that would be a major disaster for humanity. In other words, we must be determined to safeguard peace. The second lesson is that we cannot be complacent toward authoritarian powers. If you give them an inch, they will take a mile. They will keep growing, and eventually, not only will peace be unattainable, but war will be inevitable. The third lesson is why WWII ended: It ended because different groups joined together in solidarity. Taiwan, Japan, and the Indo-Pacific region are all directly subjected to China’s threats, so we hope to be able to join together in cooperation. This is why we proposed the Four Pillars of Peace action plan. First, we will strengthen our national defense. Second, we will strengthen economic resilience. Third is standing shoulder to shoulder with the democratic community to demonstrate the strength of deterrence. Fourth is that as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China, and seek peace and mutual prosperity. These four pillars can help us avoid war and achieve peace. That is to say, Taiwan hopes to achieve peace through strength, prevent war by preparing for war, keeping war from happening and pursuing the goal of peace. Q: Regarding drones, everyone knows that recently, Taiwan has been actively researching, developing, and introducing drones. Why do you need to actively research, develop, and introduce new drones at this time? President Lai: This is for two purposes. The first is to meet national security needs. The second is to meet industrial development needs. Because Taiwan, Japan, and the Philippines are all part of the first island chain, and we are all democratic nations, we cannot be like an authoritarian country like China, which has an unlimited national defense budget. In this kind of situation, island nations such as Taiwan, Japan, and the Philippines should leverage their own technologies to develop national defense methods that are asymmetric and utilize unmanned vehicles. In particular, from the Russo-Ukrainian War, we see that Ukraine has successfully utilized unmanned vehicles to protect itself and prevent Russia from unlimited invasion. In other words, the Russo-Ukrainian War has already proven the importance of drones. Therefore, the first purpose of developing drones is based on national security needs. Second, the world has already entered the era of smart technology. Whether generative, agentic, or physical, AI will continue to develop. In the future, cars and ships will also evolve into unmanned vehicles and unmanned boats, and there will be unmanned factories. Drones will even be able to assist with postal deliveries, or services like Uber, Uber Eats, and foodpanda, or agricultural irrigation and pesticide spraying. Therefore, in the future era of comprehensive smart technology, developing unmanned vehicles is a necessity. Taiwan, based on industrial needs, is actively planning the development of drones and unmanned vehicles. I would like to take this opportunity to express Taiwan’s hope to collaborate with Japan in the unmanned vehicle industry. Just as we do in the semiconductor industry, where Japan has raw materials, equipment, and technology, and Taiwan has wafer manufacturing, our two countries can cooperate. Japan is a technological power, and Taiwan also has significant technological strengths. If Taiwan and Japan work together, we will not only be able to safeguard peace and stability in the Taiwan Strait and security in the Indo-Pacific region, but it will also be very helpful for the industrial development of both countries. Q: The drones you just described probably include examples from the Russo-Ukrainian War. Taiwan and China are separated by the Taiwan Strait. Do our drones need to have cross-sea flight capabilities? President Lai: Taiwan does not intend to counterattack the mainland, and does not intend to invade any country. Taiwan’s drones are meant to protect our own nation and territory. Q: Former President Biden previously stated that US forces would assist Taiwan’s defense in the event of an attack. President Trump, however, has yet to clearly state that the US would help defend Taiwan. Do you think that in such an event, the US would help defend Taiwan? Or is Taiwan now trying to persuade the US? President Lai: Former President Biden and President Trump have answered questions from reporters. Although their responses were different, strong cooperation with Taiwan under the Biden administration has continued under the Trump administration; there has been no change. During President Trump’s first term, cooperation with Taiwan was broader and deeper compared to former President Barack Obama’s terms. After former President Biden took office, cooperation with Taiwan increased compared to President Trump’s first term. Now, during President Trump’s second term, cooperation with Taiwan is even greater than under former President Biden. Taiwan-US cooperation continues to grow stronger, and has not changed just because President Trump and former President Biden gave different responses to reporters. Furthermore, the Trump administration publicly stated that in the future, the US will shift its strategic focus from Europe to the Indo-Pacific. The US secretary of defense even publicly stated that the primary mission of the US is to prevent China from invading Taiwan, maintain stability in the Indo-Pacific, and thus maintain world peace. There is a saying in Taiwan that goes, “Help comes most to those who help themselves.” Before asking friends and allies for assistance in facing threats from China, Taiwan must first be determined and prepared to defend itself. This is Taiwan’s principle, and we are working in this direction, making all the necessary preparations to safeguard the nation. Q: I would like to ask you a question about Taiwan-Japan relations. After the Great East Japan Earthquake in 2011, you made an appeal to give Japan a great deal of assistance and care. In particular, you visited Sendai to offer condolences. Later, you also expressed condolences and concern after the earthquakes in Aomori and Kumamoto. What are your expectations for future Taiwan-Japan exchanges and development? President Lai: I come from Tainan, and my constituency is in Tainan. Tainan has very deep ties with Japan, and of course, Taiwan also has deep ties with Japan. However, among Taiwan’s 22 counties and cities, Tainan has the deepest relationship with Japan. I sincerely hope that both of you and your teams will have an opportunity to visit Tainan. I will introduce Tainan’s scenery, including architecture from the era of Japanese rule, Tainan’s cuisine, and unique aspects of Tainan society, and you can also see lifestyles and culture from the Showa era.  The Wushantou Reservoir in Tainan was completed by engineer Mr. Hatta Yoichi from Kanazawa, Japan and the team he led to Tainan after he graduated from then-Tokyo Imperial University. It has nearly a century of history and is still in use today. This reservoir, along with the 16,000-km-long Chianan Canal, transformed the 150,000-hectare Chianan Plain into Taiwan’s premier rice-growing area. It was that foundation in agriculture that enabled Taiwan to develop industry and the technology sector of today. The reservoir continues to supply water to Tainan Science Park. It is used by residents of Tainan, the agricultural sector, and industry, and even the technology sector in Xinshi Industrial Park, as well as Taiwan Semiconductor Manufacturing Company. Because of this, the people of Tainan are deeply grateful for Mr. Hatta and very friendly toward the people of Japan. A major earthquake, the largest in 50 years, struck Tainan on February 6, 2016, resulting in significant casualties. As mayor of Tainan at the time, I was extremely grateful to then-Prime Minister Abe, who sent five Japanese officials to the disaster site in Tainan the day after the earthquake. They were very thoughtful and asked what kind of assistance we needed from the Japanese government. They offered to provide help based on what we needed. I was deeply moved, as former Prime Minister Abe showed such care, going beyond the formality of just sending supplies that we may or may not have actually needed. Instead, the officials asked what we needed and then provided assistance based on those needs, which really moved me. Similarly, when the Great East Japan Earthquake of 2011 or the later Kumamoto earthquakes struck, the people of Tainan, under my leadership, naturally and dutifully expressed their support. Even earlier, when central Taiwan was hit by a major earthquake in 1999, Japan was the first country to deploy a rescue team to the disaster area. On February 6, 2018, after a major earthquake in Hualien, former Prime Minister Abe appeared in a video holding up a message of encouragement he had written in calligraphy saying “Remain strong, Taiwan.” All of Taiwan was deeply moved. Over the years, Taiwan and Japan have supported each other when earthquakes struck, and have forged bonds that are family-like, not just neighborly. This is truly valuable. In the future, I hope Taiwan and Japan can be like brothers, and that the peoples of Taiwan and Japan can treat one another like family. If Taiwan has a problem, then Japan has a problem; if Japan has a problem, then Taiwan has a problem. By caring for and helping each other, we can face various challenges and difficulties, and pursue a brighter future. Q: President Lai, you just used the phrase “If Taiwan has a problem, then Japan has a problem.” In the event that China attempts to invade Taiwan by force, what kind of response measures would you hope the US military and Japan’s Self-Defense Forces take? President Lai: As I just mentioned, annexing Taiwan is only China’s first step. Its ultimate objective is to change the rules-based international order. That being the case, China’s threats are an international problem. So, I would very much hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war – prevention, after all, is more important than cure.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Government announces appointments to four committees under Hong Kong Maritime and Port Development Board

    Source: Hong Kong Government special administrative region

    The Government today (June 30) announced the appointments to the four committees under the Hong Kong Maritime and Port Development Board (HKMPDB). The appointments will be effective from tomorrow (July 1), for a term of three years.

    The HKMPDB will be established tomorrow as a high-level advisory body to assist the Government in formulating policies and long-term development strategies. In a press release issued on June 13, the Government announced the appointment and terms of reference of the HKMPDB, and the setting up of four committees under the HKMPDB to focus on specific areas of work, namely the Port Development Committee, the Maritime Services Development Committee, the Promotion and External Relations Committee and the Manpower Development Committee.————
    Dr Moses Cheng Mo-chi————
    Mr Mohamed Butt
    Mr Ivor Chow
    Mr Horace Lo Wai-man
    Ms Ma Xiaoli
    Mr Simon Wong Kwong-yeung
    Mr Yim Kong
    Professor Zou Ying-ying————
    Hong Kong Container Terminal Operators Association
    Hong Kong Liner Shipping Association
    Hong Kong Shippers’ Council
    Guangdong and Hong Kong Feeder Association————
    Permanent Secretary for Transport and Logistics
    Commissioner for Maritime and Port Development
    Representative from Marine Department
    Representative from Invest Hong Kong————
    Ms Sabrina Chao Sih-ming————
    Mr Feng Xiongya
    Dr David Fong
    Mr Bjorn Hojgaard
    Mr Timothy Lee Kwok-lam
    Mr Clarence Leung Ka-fai
    Mr Brad Wang
    Mr Paul Yeung Wai-keung————
    Hong Kong Shipowners Association
    Hong Kong Chamber of Shipping————
    Commissioner for Maritime and Port Development
    Representative from Marine Department
    Representative from Invest Hong Kong————
    Mr Angad Banga————
    Mr Ryan Ip Man-ki
    Mr Wilson Kwong Wing-tsuen
    Mr Edward Liu Yang
    Ms Tabitha Logan————
    Hong Kong Container Terminal Operators Association
    Hong Kong Liner Shipping Association
    Hong Kong Shipowners Association
    Hong Kong Maritime Museum————
    Commissioner for Maritime and Port Development
    Representative from Hong Kong Trade Development Council
    Representative from Marine Department
    Representative from Invest Hong Kong————
    Mr Wellington Koo Tse-hau————
    Mr Cheung Tai-kee
    Mr Lothair Lam Ming-fung
    Mr Kenneth Lam Sze-ken
    Mr Joseph Li
    Dr Venus Lun Yuen-ha
    Dr Billy Mak Sui-choi
    Mr Alan Tung Lieh-sing
    Ms Cherry Xu Qili
    Professor Yip Tsz-leung
    Mr Chris Zhao Peng————
    Hong Kong Shipowners Association
    Hong Kong Seamen’s Union
    Institute of Seatransport
    Hong Kong Federation of Insurers
    The Law Society of Hong Kong————
    Commissioner for Maritime and Port Development
    Representative from Vocational Training Council
    Representative from Marine Department

    MIL OSI Asia Pacific News

  • MIL-OSI Europe: Federal Council wishes to improve and simplify control of senior management salaries at its companies limited by shares

    Source: Switzerland – Department of Foreign Affairs in English

    During its meeting on 15 January 2025, the Federal Council decided to adjust the procedure for setting the upper limits for top executives’ salaries at companies affiliated with the Confederation. The setting and monitoring of salary caps at federal companies limited by shares are to become more efficient and modern. The Federal Council instructed the Federal Department of Finance to submit corresponding proposals to it. In addition, it temporarily granted the companies limited reserves for 2026 and 2027 remuneration, but their use is subject to certain conditions. Finally, it called for greater transparency in remuneration reports.

    MIL OSI Europe News

  • MIL-OSI Africa: South Sudan’s Minister of Mines to Showcase E&P Prospects at African Mining Week (AMW) 2025

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

    Download logo

    Martin Gama Abucha, Minister of Mines of South Sudan, has joined the upcoming African Mining Week (AMW) conference as a speaker. Minister Abucha will take part in the Ministerial Forum, where he will share insight into South Sudan’s policy frameworks, investment incentives and infrastructure plans aimed at unlocking the full potential of the country’s mining sector. 

    As South Sudan seeks to increase mining investments and drive projects forward, AMW provides an ideal platform for Minister Abucha to outline the country’s commitment to enhancing cooperation with global public and private stakeholders to build a robust and competitive mining value chain. As the premier gathering for mining stakeholders in Africa, the event connects global financiers and project developers with African mining opportunities, facilitating collaboration and deal-signing. Insights shared by Minister Abucha will support future deals. 

    African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

    Under Minister Abucha’s leadership, South Sudan’s Ministry of Mines has been accelerating geological mapping to identify exploration hotspots and reduce investment risk. In April 2025, the Ministry hosted a delegation from Qatar, including government officials and mining investors, to discuss opportunities in seismic studies, gold refining and the extraction of lead and critical minerals. The meeting follows Qatari firms such as United Gold investing across South Sudan to establish gold marketing stations. The stations aim to formalize artisanal mining by integrating informal production into the formal economy. 

    Collaborations are also underway with South Africa to leverage the country’s mining expertise, investment portfolio and technology to better understand South Sudan’s mineral landscape. Other partnerships include with Russia’s ROSGEO, the U.S.-based REE-Magnesium and Canada’s CVMR to map the country’s mineral resources and better understand the geology. In November 2024, South Sudan’s national oil company Nilepet announced the discovery of critical minerals following a geological survey conducted in the first half of 2024 and revealed plans to establish a national mining company to support sector growth. 

    Amid these developments, AMW 2025 offers a timely opportunity for Minister Abucha to engage with global geoscience firms, mining investors and African stakeholders to forge new partnerships and strengthen existing collaborations. AMW 2025 panel discussions and project showcases will position South Sudan as an emerging mining destination on the continent. 

    – on behalf of Energy Capital & Power.

    MIL OSI Africa

  • MIL-OSI Europe: EIB and CAF unite to drive sustainable growth in Latin America under Global Gateway

    Source: European Investment Bank

    In a significant step towards deepening international development cooperation, the European Investment Bank (EIB) and CAF Development Bank of Latin America and the Caribbean signed a memorandum of understanding today during a high-level meeting with Community of Latin American and Caribbean States (CELAC) finance ministers and financial institutions operating in the Latin America and the Caribbean region, in advance of the Fourth International Conference on Financing for Development (FFD4) held in Seville.

    EIB President Nadia Calviño and CAF President Sergio Díaz-Granados formalised the agreement, which aims to enhance institutional collaboration and mobilise financing for high-impact projects across Latin America and the Caribbean. Central to the memorandum of understanding is the shared commitment to promote climate action and environmental sustainability, reflecting both institutions’ priorities and the European Union’s Global Gateway strategy.

    From dialogue to strategic partnership

    The signing of the memorandum of understanding marks a significant evolution in the relationship between the EIB and CAF, moving from ad hoc coordination to a more structured and strategic form of collaboration. The agreement is designed to turn shared ambitions into practical outcomes by expanding sustainable investments and tackling key development challenges across Latin America and the Caribbean.

    The memorandum of understanding outlines a broad framework for cooperation that preserves the independence of each institution while building a foundation for deeper coordination, as it offers a flexible and scalable model for collaboration.

    A shared vision for climate and development

    The partnership’s central goal is to boost financing for projects aligned with climate action and environmental sustainability, specifically those that contribute to greenhouse gas mitigation, climate resilience, biodiversity preservation and the fight against environmental degradation. The cooperation will also aim to reinforce regional value chains and accelerate the transition to green, inclusive economies.

    The memorandum of understanding envisions financial support through multiple instruments, including parallel and joint co-financing, loan guarantees, equity investments, advisory services and knowledge transfer. Both institutions will also explore the mobilisation of EU and Member State grants through platforms such as the Latin America and Caribbean Investment Facility (LACIF).

    Looking ahead

    The memorandum of understanding is supported by a clear and actionable roadmap that outlines specific steps for implementation and monitoring. Through this agreement, the EIB and CAF demonstrate a strong and unified commitment to promoting sustainable growth across Latin America and the Caribbean.

    The partnership reinforces the practical objectives of the Global Gateway strategy, turning vision into investment-driven action. By formalising and expanding their collaboration, both institutions aim to mobilise significant financial resources, close investment gaps and accelerate the region’s transition to a greener and more resilient future.

    Towards the CELAC-EU summit in Santa Marta, Colombia

    The upcoming CELAC-EU summit in Santa Marta represents a new milestone in the strategic partnership between the European Union and Latin America and the Caribbean. It offers a key opportunity to highlight and give full value to the renewed agreement between the EIB and CAF, showcasing it as a tangible example of joint commitment to sustainable development, climate action and deeper regional integration under the Global Gateway framework.

    MIL OSI Europe News

  • MIL-OSI Europe: Heads of Multilateral Development Banks commit to strong joint action on development priorities

    Source: European Investment Bank

    EIB

    The Heads of Multilateral Development Banks (MDBs) met today in Paris, hosted by the Council of Europe Development Bank (CEB), which currently chairs the Heads of MDBs Group. The meeting focused on advancing their joint efforts to address  development priorities.

    Amid rising global uncertainty, the Heads reaffirmed their commitment to working as a system to deliver greater impact and scale, in line with their Viewpoint Note and the recommendations of the G20 Roadmap towards Better, Bigger, and More Effective MDBs.  The Roadmap outlines an ambitious vision for MDB reform to better address regional and global challenges, support job creation, and help countries achieve their development aspirations.

    The Heads welcomed ongoing efforts to improve the way MDBs work with clients through operational efficiency and enhanced coordination. In 2025 alone, five mutual reliance agreements  have been signed, helping streamline the preparation and implementation of  co-financed projects across institutions.

    Private capital mobilization remains a system-wide priority, with the last joint report of the MDBs reflecting a positive trend in volumes mobilized. To build on this momentum, the Heads reaffirmed their commitment to developing local currency lending and foreign exchange solutions. They also reaffirmed  the importance of adequate risk assessment for private sector investment in emerging markets and developing economies; in this context, the valuable contribution of disaggregated statistics on credit risk published through the Global Emerging Markets Risk Database (GEMs) was recognized.

    The Heads reiterated their continued commitment to implementing the recommendations of the G20 Independent Review of Multilateral Development Banks’ Capital Adequacy Frameworks (CAF).  Further reform efforts by MDBs since mid-2024 have increased the additional lending headroom for development projects in all countries of operation, including high-income ones, over the next decade by more than US$250 billion, thus reaching a total of over US$650 billion.

    The publication in the coming weeks of the Comparison Report by the MDBs’ Global Risk and Finance Forum (GRaFF) will provide metrics and data relating to MDBs’ financial positions, promoting a better understanding of their financial models and supporting both balance sheet optimization and private sector mobilization. 

    The Heads also agreed to continue advancing promising initiatives already underway to strengthen system-wide impact. These include: 1) Mission 300, which aims to connect 300 million people in Africa to electricity by 2030 through public and private collaboration;  2) Association of South East Asian Nations (ASEAN) Power Grid, which aims to boost energy security, strengthen resilience, and promote decarbonization for the region’s 670 million people by connecting its electricity systems; and 3) Digital Transformation in Education in Latin America and the Caribbean, which aims to connect 3.5 million students and train over 250,000 teachers. 

    In addition, MDBs are exploring joint actions to scale up investments in social infrastructure, including health, education, housing, and water and sanitation. Building on structured dialogue led by the CEB, the Heads welcomed progress made through recent cross-MDB consultations and recognized the key role these sectors play in enabling jobs, productivity, and inclusive growth, while noting persistent financing and delivery challenges that constrain impact.

    Meeting in advance of the Fourth International Conference on Financing for Development (FfD4), which will take place in Sevilla, Spain, from 30 June to 3 July, MDBs remain committed to working better as a system, in alignment with country-led development priorities and strategies to promote jobs and prosperity. In view of water’s role in human development, MDBs committed to significantly increasing collective support for global water security by 2030, and will launch the first “Joint Annual MDB Water Security Financing Report” at FfD4. Heads noted the importance of the upcoming COP30 in Belem, Brazil, in November 2025.

    Today’s meeting in Paris marks a significant step toward effective collaboration and scaled-up collective action for development priorities. MDB reforms are advancing, moving from concept to execution.

    With streamlined operations, better risk tools, and growing financial capacity, MDBs are delivering real impact – from expanding energy access and digital education to scaling investment in water security.

    MIL OSI Europe News

  • MIL-OSI Europe: Joint Statement: Heads of Multilateral Development Banks commit to strong joint action on development priorities

    Source: European Investment Bank

    PARIS (28 June) – The Heads of Multilateral Development Banks (MDBs) met today in Paris, hosted by the Council of Europe Development Bank (CEB), which currently chairs the Heads of MDBs Group. The meeting focused on advancing their joint efforts to address  development priorities.

    Amid rising global uncertainty, the Heads reaffirmed their commitment to working as a system to deliver greater impact and scale, in line with their Viewpoint Note and the recommendations of the G20 Roadmap towards Better, Bigger, and More Effective MDBs.  The Roadmap outlines an ambitious vision for MDB reform to better address regional and global challenges, support job creation, and help countries achieve their development aspirations.

    The Heads welcomed ongoing efforts to improve the way MDBs work with clients through operational efficiency and enhanced coordination. In 2025 alone, five mutual reliance agreements  have been signed, helping streamline the preparation and implementation of  co-financed projects across institutions.

    Private capital mobilization remains a system-wide priority, with the last joint report of the MDBs reflecting a positive trend in volumes mobilized. To build on this momentum, the Heads reaffirmed their commitment to developing local currency lending and foreign exchange solutions. They also reaffirmed  the importance of adequate risk assessment for private sector investment in emerging markets and developing economies; in this context, the valuable contribution of disaggregated statistics on credit risk published through the Global Emerging Markets Risk Database (GEMs) was recognized.

    The Heads reiterated their continued commitment to implementing the recommendations of the G20 Independent Review of Multilateral Development Banks’ Capital Adequacy Frameworks (CAF).  Further reform efforts by MDBs since mid-2024 have increased the additional lending headroom for development projects in all countries of operation, including high-income ones, over the next decade by more than US$250 billion, thus reaching a total of over US$650 billion.

    The publication in the coming weeks of the Comparison Report by the MDBs’ Global Risk and Finance Forum (GRaFF) will provide metrics and data relating to MDBs’ financial positions, promoting a better understanding of their financial models and supporting both balance sheet optimization and private sector mobilization. 

    The Heads also agreed to continue advancing promising initiatives already underway to strengthen system-wide impact. These include: 1) Mission 300, which aims to connect 300 million people in Africa to electricity by 2030 through public and private collaboration;  2) Association of South East Asian Nations (ASEAN) Power Grid, which aims to boost energy security, strengthen resilience, and promote decarbonization for the region’s 670 million people by connecting its electricity systems; and 3) Digital Transformation in Education in Latin America and the Caribbean, which aims to connect 3.5 million students and train over 250,000 teachers. 

    In addition, MDBs are exploring joint actions to scale up investments in social infrastructure, including health, education, housing, and water and sanitation. Building on structured dialogue led by the CEB, the Heads welcomed progress made through recent cross-MDB consultations and recognized the key role these sectors play in enabling jobs, productivity, and inclusive growth, while noting persistent financing and delivery challenges that constrain impact.

    Meeting in advance of the Fourth International Conference on Financing for Development (FfD4), which will take place in Sevilla, Spain, from 30 June to 3 July, MDBs remain committed to working better as a system, in alignment with country-led development priorities and strategies to promote jobs and prosperity. In view of water’s role in human development, MDBs committed to significantly increasing collective support for global water security by 2030, and will launch the first “Joint Annual MDB Water Security Financing Report” at FfD4. Heads noted the importance of the upcoming COP30 in Belem, Brazil, in November 2025.

    Today’s meeting in Paris marks a significant step toward effective collaboration and scaled-up collective action for development priorities. MDB reforms are advancing, moving from concept to execution.

    With streamlined operations, better risk tools, and growing financial capacity, MDBs are delivering real impact – from expanding energy access and digital education to scaling investment in water security.

    MIL OSI Europe News

  • MIL-OSI Asia-Pac: Government’s financial results for two months ended May 31, 2025

    Source: Hong Kong Government special administrative region

         The Government announced today (June 30) its financial results for the two months ended May 31, 2025.

         Expenditure and revenue from April to May 2025 amounted to HK$129.7 billion and HK$55.9 billion respectively, resulting in a deficit of HK$78.4 billion after taking into account HK$15.5 billion received from issuance of Government Bonds and repayment of HK$20.1 billion principal on Government Bonds.

         A Government spokesperson said that the deficit for the period was mainly due to the fact that some major types of revenue including salaries and profits taxes, are mostly received towards the end of a financial year.

         The fiscal reserves stood at HK$575.9 billion as at May 31, 2025.

         Detailed figures are shown in Tables 1 and 2.

    TABLE 1. CONSOLIDATED ACCOUNT (Note 1)
     

      Month ended
    May 31, 2025
    HK$ million
    Two months ended
    May 31, 2025
    HK$ million
    Revenue 17,448.6 55,906.5
    Expenditure (66,328.1) (129,774.6)
         
    Deficit before issuance
    and repayment of
    Government Bonds
    (48,879.5) (73,868.1)
         
    Proceeds received from
    issuance of
    Government Bonds
    9,435.9 15,534.8
         
    Repayment of
    Government Bonds*
    (20,070.1) (20,120.5)
         
    Deficit after issuance
    and repayment of
    Government Bonds
    (59,513.7) (78,453.8)
         
    Financing    
    Domestic    
         Banking Sector (Note 2) 59,210.2 75,933.7
         Non-Banking Sector 303.5 2,520.1
    External
           
    Total 59,513.7 78,453.8
    * Being repayment of principal on Government Bonds and does not include the associated interest and other expenses.

    Government Debts as at May 31, 2025 (Note 3)
        HK$298,332 million
    Debts Guaranteed by Government as at May 31, 2025 (Note 4)
        HK$123,199 million

    TABLE 2. FISCAL RESERVES
     

     
     
    Month ended
    May 31, 2025
    HK$ million
    Two months ended
    May 31, 2025
    HK$ million
    Fiscal Reserves at start of period 635,376.7 654,316.8
    Consolidated Deficit after
    issuance and repayment of
    Government Bonds
    (59,513.7) (78,453.8)
         
    Fiscal Reserves at end of period
    (Note 5)
    575,863.0 575,863.0

    Notes:

    1. This Account consolidates the General Revenue Account and the following eight Funds: Capital Works Reserve Fund, Capital Investment Fund, Civil Service Pension Reserve Fund, Disaster Relief Fund, Innovation and Technology Fund, Land Fund, Loan Fund and Lotteries Fund. It excludes the Bond Fund, the balance of which is not part of the fiscal reserves. The Bond Fund balance as at May 31, 2025, was HK$216,896 million.

    2. Includes transactions with the Exchange Fund and resident banks.

    3. The Government Debts, with proceeds credited to the Capital Works Reserve Fund, comprise:

    (i) the Green Bonds (equivalent to HK$177,761 million as at May 31, 2025) issued under the Government Sustainable Bond Programme. They were denominated in US dollars (US$9,950 million with maturity from January 2026 to January 2053), euros (4,580 million euros with maturity from February 2026 to November 2041), Renminbi (RMB34,000 million with maturity from June 2025 to July 2054) and Hong Kong dollars (HK$22,000 million with maturity from February 2026 to October 2026);

    (ii) the Infrastructure Bonds (equivalent to HK$65,900 million as at May 31, 2025) issued under the Infrastructure Bond Programme. They were denominated in Renminbi (RMB19,000 million with maturity from December 2025 to May 2035) and Hong Kong dollars (HK$45,230 million with maturity from November 2025 to March 2045); and

    (iii) the Silver Bonds with nominal value of HK$54,671 million (with maturity in October 2027 and may be redeemed before maturity upon request from bond holders) issued under the Infrastructure Bond Programme.

         They do not include the outstanding bonds with nominal value of HK$168,090 million and alternative bonds with nominal value of US$1,000 million (equivalent to HK$7,841 million as at May 31, 2025) issued under the Government Bond Programme with proceeds credited to the Bond Fund. Of these bonds under the Government Bond Programme (including Silver Bonds with nominal value of HK$96,090 million, which may be redeemed before maturity upon request from bond holders), bonds with nominal value of HK$66,959 million will mature within the period from June 2025 to May 2026 and the rest within the period from June 2026 to May 2042.

    4. Includes guarantees provided under the SME Loan Guarantee Scheme launched in 2001, the Special Loan Guarantee Scheme launched in 2008, the SME Financing Guarantee Scheme launched in 2012, and the Loan Guarantee Scheme for Cross-boundary Passenger Transport Trade, the Loan Guarantee Scheme for Battery Electric Taxis and the Loan Guarantee Scheme for Travel Sector launched in 2023.

    5. Includes HK$250,041 million, being the balance of the Land Fund held in the name of “Future Fund”, for long-term investments up to December 31, 2030. The Future Fund also includes HK$4,800 million, being one-third of the actual surplus in 2015-16 as top-up.

    MIL OSI Asia Pacific News

  • MIL-OSI Europe: NRRP steering committee meeting held at Palazzo Chigi to verify milestones and targets for eighth instalment

    Source: Government of Italy (English)

    A steering committee meeting for the National Recovery and Resilience Plan (NRRP) was held at Palazzo Chigi today, called and chaired by the Minister for European Affairs, the NRRP and Cohesion Policy, Tommaso Foti. The purpose of the meeting, attended by the Ministers and Undersecretaries in charge as well as by representatives from ANCI [National Association of Italian Municipalities], UPI [Union of Italian Provinces] and the Conference of Regions and Autonomous Provinces, was to verify progress of the 40 objectives linked to the payment request for the eighth instalment of Italy’s NRRP, worth EUR 12.8 billion. 

    Following a detailed review, the steering committee acknowledged the implementation status of the 12 milestones and 28 targets required for the eighth instalment, which include reforms and investments that are strategic for the nation’s growth, involving 13 administrations.

    The most significant measures include: digitalisation of the Guardia di Finanza [Italian Finance Police], with innovative IT systems to fight economic crime; more than 1,000 language and methodology courses for school teachers; the launch of projects to update school curricula in over 8,000 schools and guide students towards STEM skills; completion of culture and tourism enhancement projects by supporting approximately 2,000 small and medium-sized enterprises; redevelopment of around 50 historical parks and gardens.

    Regarding the eighth instalment, implementation of measures was also verified linked to: 1,400km of rail infrastructure being equipped with the European Rail Traffic Management System; coverage of an advanced and integrated monitoring and forecasting system to identify hydrogeological risks for 90% of the surface area in southern regions; marine habitat protection and coastal observation work; improving the energy efficiency of public housing; with regard to universities, funding 5,000 research projects of national interest, hiring approximately 2,300 new researchers, allocating more than 550 research grants, and providing financing for research projects on rare and severely debilitating diseases. 

    Among the strategic reforms that have been carried out, the reduction in payment delays by central and local government authorities, regional authorities, autonomous provinces and national health service bodies is particularly significant.

    MIL OSI Europe News

  • MIL-OSI Europe: NRRP steering committee meeting held at Palazzo Chigi to verify milestones and targets for eighth instalment

    Source: Government of Italy (English)

    A steering committee meeting for the National Recovery and Resilience Plan (NRRP) was held at Palazzo Chigi today, called and chaired by the Minister for European Affairs, the NRRP and Cohesion Policy, Tommaso Foti. The purpose of the meeting, attended by the Ministers and Undersecretaries in charge as well as by representatives from ANCI [National Association of Italian Municipalities], UPI [Union of Italian Provinces] and the Conference of Regions and Autonomous Provinces, was to verify progress of the 40 objectives linked to the payment request for the eighth instalment of Italy’s NRRP, worth EUR 12.8 billion. 

    Following a detailed review, the steering committee acknowledged the implementation status of the 12 milestones and 28 targets required for the eighth instalment, which include reforms and investments that are strategic for the nation’s growth, involving 13 administrations.

    The most significant measures include: digitalisation of the Guardia di Finanza [Italian Finance Police], with innovative IT systems to fight economic crime; more than 1,000 language and methodology courses for school teachers; the launch of projects to update school curricula in over 8,000 schools and guide students towards STEM skills; completion of culture and tourism enhancement projects by supporting approximately 2,000 small and medium-sized enterprises; redevelopment of around 50 historical parks and gardens.

    Regarding the eighth instalment, implementation of measures was also verified linked to: 1,400km of rail infrastructure being equipped with the European Rail Traffic Management System; coverage of an advanced and integrated monitoring and forecasting system to identify hydrogeological risks for 90% of the surface area in southern regions; marine habitat protection and coastal observation work; improving the energy efficiency of public housing; with regard to universities, funding 5,000 research projects of national interest, hiring approximately 2,300 new researchers, allocating more than 550 research grants, and providing financing for research projects on rare and severely debilitating diseases. 

    Among the strategic reforms that have been carried out, the reduction in payment delays by central and local government authorities, regional authorities, autonomous provinces and national health service bodies is particularly significant.

    MIL OSI Europe News

  • MIL-OSI: Ombytningsforhold ved fusion

    Source: GlobeNewswire (MIL-OSI)

    På den ordinære generalforsamling i Investeringsforeningen Nordea Invest afholdt den 7. april 2025 blev det besluttet at fusionere European Small Cap Stars KL ind i European Stars KL.

    Sammenlægningen af andele sker på baggrund af sidste indre værdi den 26.06.25

    Ophørende fond Indre værdi Fortsættende afdeling Indre værdi Ombytningsforhold
    European Small Cap Stars KL (DK0015960983) 155,954653 European Stars KL (DK0010265693) 96,987542 1,6079864463

    Hvis de ophørende investeringsbeviser ikke kan ombyttes til et helt antal investeringsbeviser i den fortsættende afdeling vil disse fraktioner af andele umiddelbart efter fusionen blive kompenseret kontant og indsat på den afkastkonto, der er tilknyttet depotet. Fusionen har ikke skattemæssige konsekvenser.

    Investeringsbeviserne i den ophørende afdeling udtages af medlemmernes depot og samtidig indlægges de modtagne beviser i den fortsættende afdeling.

    Med venlig hilsen

    Nordea Fund Management, filial af Nordea Funds Oy, Finland

    Rasmus Eske Bruun

    Filialbestyrer

    The MIL Network

  • MIL-OSI Russia: Fourth Financing for Development (FfD4) Conference Opening Session: Keynote Speech by DMD Nigel Clarke

    Source: IMF – News in Russian

    Fourth Financing for Development (FfD4) Conference Opening Session: Keynote Speech by DMD Nigel Clarke

    June 30, 2025

    Good morning, everyone.

    Thank you for the opportunity to speak to you today, on behalf of the International Monetary Fund. It is a great honor to join you here at the Fourth Financing for Development Conference.

    This conference comes at a particularly challenging moment. Once again, the resilience of the world economy is being tested. Uncertainty has been escalating, as major policy shifts reshape countries priorities. Despite progress on trade talks and the scaling back of some tariffs, trade policy uncertainty indicators remain off the charts.

    This has major implications for developing countries, for whom risks have grown: downside risks to short-term and longer-term growth prospects. Risks of tightened financing conditions. And yes, risks to their development agenda—including due to cuts in overseas development assistance. 

    That is why this conference is so important—and so timely. It provides an opportunity to take decisive and necessary steps to accelerate development progress.

    And these steps must be taken at both the individual country level and the international community level.

    With that in mind, and with this opportunity in our hands, let me stress three critical priorities, one at the country level, and two at the international level.

    First priority, at the country level: implement strong domestic reforms. In an uncertain economic environment, the work to advance development must begin at home. Let me point to two sets of critical reforms within this first priority.

    One, domestic revenues remain the bedrock of country-led efforts for sustainable growth and development. Many countries can boost the resources available to them by broadening the tax base and improving compliance.

    And two, by building strong public financial management systems, they can redirect spending to sectors like health, education, well-targeted social safety nets, and growth- enhancing public investments.

    Second priority, at the international level: ensure that the support to development is coordinated and tailored. Development partners must help with policy advice, capacity building, and financial support. And to be effective, that assistance should be tailored to countries’ individual circumstances and challenges. Indeed, while developing countries share many characteristics, there are differences in their economic conditions.

    The needs of the poorest and most fragile countries, in particular—who are often hit hardest by global shocks—demand our attention, and for these countries concessional financing remains of critical importance.

    Third priority, also at the international level: address debt vulnerabilities. The risk of a systemic debt crisis seems broadly contained for now. But many countries are struggling with high interest costs and refinancing needs that constrain their ability to finance critical development spending and build resilience.

    That is why the international community must further improve debt restructuring processes to ensure that countries with unsustainable debt have access to timely and sufficiently deep debt relief.

    We have already seen progress under the Common Framework and at the Global Sovereign Debt Roundtable. And the recently published Sovereign Debt Restructuring Playbook is an important resource for countries considering seeking a restructuring. But there is still work to be done.

    The IMF is doing its part to support developing countries.

    Through our tailored policy advice, we help our members make their economies more vibrant and more resilient. We will continue to strengthen our analysis and guidance on monetary, fiscal, exchange rate, and financial sector policies.

    Through our capacity development, we will continue to help equip our members with the tools and expertise to chart their own path, working closely with other development partners.

    Through our lending instruments, we provide financial support to our members when they need it. Last Fall, we reformed our concessional lending framework, to double its lending capacity while restoring its self-sustainability. And we will continue to explore ways to strengthen our precautionary facilities and ensure our programs are well-designed.

    The Fund also actively contributes to addressing debt challenges. We provide technical support to individual restructuring. With the World Bank, we are advancing the work at the Global Sovereign Debt Roundtable and are implementing the “three-pillar approach” to help countries with sustainable debt and strong reform agendas, but where high debt service crowds out productive spending.

    Simply put: the IMF will continue to help our members achieve economic and financial stability—a prerequisite for reaching their development objectives.

    And as we work together this week, we will remain a trusted partner and champion for the international development agenda. Together, we can help bring our members towards a brighter future.

    Thank you.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER:

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

    https://www.imf.org/en/News/Articles/2025/06/30/sp063025-FfD4-conference-opening-session-keynote-speech-dmd-nigel-clarke

    MIL OSI

    MIL OSI Russia News

  • MIL-OSI United Nations: Secretary-General’s remarks at the opening of the 4th Financing for Development Conference [trilingual, as delivered; scroll down for all-English and all-Spanish]

    Source: United Nations secretary general

    Majestades,

    Excelencias, señoras y señores:

    Agradezco al Gobierno y al pueblo de España por su cálida acogida en Sevilla para esta importante conferencia.

    Durante décadas, la misión del desarrollo sostenible ha unido a países grandes y pequeños, desarrollados y en desarrollo.

    Juntos, hemos logrado avances.

     
    Reduciendo la pobreza y el hambre en el mundo.
     
    Salvando vidas con sistemas sanitarios más sólidos.
     
    Llevando más niños a la escuela.
     
    Ampliando las oportunidades para mujeres y niñas.
     
    Y fortaleciendo las redes de seguridad social.
     
    Pero hoy, el desarrollo y su gran impulsor – la cooperación internacional –enfrentan fortísimos vientos en contra.
     
    Vivimos en un mundo donde la confianza se está desmoronando y el multilateralismo está bajo tensión.
     
    Un mundo con una economía en desaceleración, tensiones comerciales crecientes y presupuestos de ayuda diezmados.
     
    Un mundo sacudido por desigualdades, caos climático y conflictos devastadores.
     
    El vínculo entre paz y desarrollo es evidente.
     
    Nueve de los diez países con los Indicadores de Desarrollo Humano más bajos se encuentran actualmente en situación de conflicto.
     
    Excelencias,
     
    La financiación es el motor del desarrollo.
     
    Y, ahora mismo, ese motor se está ahogando.
     
    Mientras nos reunimos, la Agenda 2030 para el Desarrollo Sostenible – nuestra promesa global de transformar nuestro mundo para lograr un futuro mejor y más justo – está en peligro.
     
    Dos tercios de las metas de los Objetivos de Desarrollo Sostenible están rezagadas.
     
    Alcanzarlos requiere una inversión de más de 4 billones de dólares al año.
     
    Pero no se trata sólo de una crisis de cifras.
     
    Es una crisis de personas.
     
    De familias que pasan hambre.
     
    De niños que no reciben vacunas.
     
    De niñas obligadas a abandonar la escuela.
     
    Estamos aquí en Sevilla para cambiar el rumbo.
     
    Para reparar y poner en marcha el motor del desarrollo y acelerar la inversión a la escala y velocidad necesarias.
     
    Y restaurar equidad y justicia – para todas y todos.
     
    Excellencies,
     
    The Sevilla Commitment is a global promise to fix how the world supports countries as they climb the development ladder.
     
    I see three areas of action.
     
    First — we must get resources flowing. Fast.  
     
    Countries must lead by mobilizing domestic resources and investing in areas of greatest impact: schools, health care, social protection, decent work, and renewable energy.
     
    Unlocking these investments requires strengthening tax systems, and tackling illicit financial flows and tax evasion.
     
    And helping developing countries dedicate a greater share of their tax revenues to the systems people need.
     
    The Sevilla Commitment’s call on developed countries to double their aid dedicated to domestic resource mobilization to support this.
     
    Multilateral and national development banks must unite to finance major investments. 
     
    This includes tripling the lending capacity of Multilateral Development Banks — and rechanneling Special Drawing Rights that can unlock lending capacity and help developing countries boost investment.
     
    We also need innovative funding solutions to unlock private capital.
     
    Solutions that mitigate currency risks;
     
    That combine public and private finance more effectively, and ensure the risks and rewards of development projects are shared by both the public and the private sectors; 
     
    And that ensure financial regulations assess risk appropriately and support investments in frontier markets.
     
    Second — we must fix the global debt system which is unsustainable, unfair and unaffordable.
     
    With annual debt service at $1.4 trillion, countries need — and deserve — a system that lowers borrowing costs, enables fair and timely debt-restructuring, and prevents debt crises in the first place.
     
    The Sevilla Commitment lays the groundwork:  
     
    With other aspects, by also creating a single debt registry for transparency, and promoting responsible lending and borrowing;
     
    By lowering the cost of capital through debt swaps and debt management support;
     
    And through debt service pauses in times of emergency.    
     
    And third — we must increase the participation of developing countries in the institutions of the global financial architecture. The present major shareholders have a role to play recognizing the importance of correcting injustices and adapting to a changing world. 

    A new borrowers forum will give voice to borrowers for fairer debt resolution and to foster transparency, shared learning and coordinated debt action.
     
    And we need a fairer global tax system shaped by all, not just by a few.
     
    Excellences, Mesdames et Messieurs,
     
    Cette conférence n’est pas une affaire de charité.
     
    Il s’agit de rétablir la justice – et de permettre à chacun de vivre dans la dignité.
     
    Cette conférence n’est pas une affaire d’argent.
     
    Il s’agit d’investir dans l’avenir que nous voulons construire – ensemble.
     
    Merci – à toutes et à tous – de participer à cet effort essentiel et ambitieux.
     

    ****

    DECLARACIONES DEL SECRETARIO GENERAL
    CON OCASIÓN DE LA INAUGURACIÓN DE LA CUARTA CONFERENCIA SOBRE LA FINANCIACIÓN PARA EL DESARROLLO

    Majestades,

    Excelencias, señoras y señores:

    Agradezco al Gobierno y al pueblo de España por su cálida acogida en Sevilla para esta importante conferencia.

    Durante décadas, la misión del desarrollo sostenible ha unido a países grandes y pequeños, desarrollados y en desarrollo.

    Juntos, hemos logrado avances.

    Reduciendo la pobreza y el hambre en el mundo.

    Salvando vidas con sistemas sanitarios más sólidos.

    Llevando más niños a la escuela.
            
    Ampliando las oportunidades para mujeres y niñas.

    Y fortaleciendo las redes de seguridad social.

    Pero hoy, el desarrollo y su gran impulsor – la cooperación internacional –enfrentan fortísimos vientos en contra.

    Vivimos en un mundo donde la confianza se está desmoronando y el multilateralismo está bajo tensión.

    Un mundo con una economía en desaceleración, tensiones comerciales crecientes y presupuestos de ayuda diezmados.

    Un mundo sacudido por desigualdades, caos climático y conflictos devastadores.

    El vínculo entre paz y desarrollo es evidente.

    Nueve de los diez países con los Indicadores de Desarrollo Humano más bajos se encuentran actualmente en situación de conflicto.

    Excelencias,

    La financiación es el motor del desarrollo.

    Y, ahora mismo, ese motor se está ahogando.

    Mientras nos reunimos, la Agenda 2030 para el Desarrollo Sostenible – nuestra promesa global de transformar nuestro mundo para lograr un futuro mejor y más justo – está en peligro.

    Dos tercios de las metas de los Objetivos de Desarrollo Sostenible están rezagadas.

    Alcanzarlos requiere una inversión de más de 4 billones de dólares al año.

    Pero no se trata sólo de una crisis de cifras.

    Es una crisis de personas.

    De familias que pasan hambre.

    De niños que no reciben vacunas.

    De niñas obligadas a abandonar la escuela.

    Estamos aquí en Sevilla para cambiar el rumbo.

    Para reparar y poner en marcha el motor del desarrollo y acelerar la inversión a la escala y velocidad necesarias.

    Y restaurar equidad y justicia – para todas y todos.

    Excelencias:

    El documento del Compromiso de Sevilla es una clara promesa global de reparar la forma en que el mundo apoya a los países que suben la escalera del desarrollo.

    Veo tres esferas de acción.

    En primer lugar, tenemos que hacer fluir los recursos. Rápido.

    Los países deben dirigir el proceso movilizando recursos nacionales e invirtiendo en las esferas de mayor impacto: escuelas, atención sanitaria, protección social, trabajo decente y energía renovable.

    Para favorecer estas inversiones es necesario reforzar los sistemas tributarios y combatir los flujos financieros ilícitos y la evasión fiscal.

    Y ayudar a los países en desarrollo a que puedan dedicar una mayor parte de sus ingresos tributarios a los sistemas que necesitan las personas.

    El llamamiento del Compromiso de Sevilla a los países desarrollados para que dupliquen la ayuda dedicada a la movilización de recursos nacionales para servir de apoyo.

    Los bancos multilaterales y nacionales de desarrollo deben unirse para financiar grandes inversiones. 

    Para ello, hay que triplicar la capacidad de préstamo de los bancos multilaterales de desarrollo y reorientar los derechos especiales de giro para aumentar la capacidad de préstamo y ayudar a los países en desarrollo a impulsar la inversión.

    También necesitamos soluciones de financiación innovadora para facilitar el capital privado: 

    Que mitiguen los riesgos cambiarios;

    Que combinen más eficazmente la financiación pública y privada, y garanticen que los riesgos y las recompensas de los proyectos de desarrollo sean compartidos por el sector público y el sector privado; 

    Y que garanticen que la reglamentación financiera evalúa los riesgos adecuadamente y apoya las inversiones en mercados frontera.

    En segundo lugar, debemos reparar el sistema mundial de la deuda, que es insostenible, injusto e inasequible.

    Con un servicio de la deuda que asciende a 1,4 billones de dólares al año, los países necesitan — y merecen — un sistema que abarate el costo del endeudamiento, facilite la reestructuración justa y oportuna de la deuda, y prevenga las crisis de deuda en primer lugar.

    El Compromiso de Sevilla sienta las bases:  

    Con otros factores, creando también un registro único de la deuda en aras de la transparencia, y promoviendo prácticas responsables de préstamo y endeudamiento;

    Reduciendo el costo del capital mediante canjes de deuda y el apoyo a la gestión de la deuda;

    Y suspendiendo el servicio de la deuda en épocas de emergencia.    

    Y en tercer lugar debemos incrementar la participación de los países en desarrollo en las instituciones de la arquitectura financiera global. Los principales accionistas tienen un papel que desempeñar al reconocer la importancia de corregir las injusticias y adaptarse a un mundo cambiante.

    Las partes principales deben apoyar reformas que les den una voz más potente.

    Un foro de prestatarios puede fomentar el aprendizaje común y la acción coordinada en materia de deuda. 

    Un nuevo foro de prestatarios dará voz a los prestatarios para una resolución de la deuda más justa y puede fomentar el aprendizaje compartido y la acción coordinada en materia de deuda.

    Y necesitamos un sistema tributario mundial más justo, conformado por todos, no solo por unos pocos.

    Excelencias, señoras y señores:

    Esta conferencia no trata de caridad.

    Trata de restablecer la justicia y permitir que todos vivan con dignidad.

    Esta conferencia no trata de dinero.

    Trata de invertir en el futuro que queremos construir, juntos.

    Gracias a todos por participar en este importante y ambicioso esfuerzo.
     

    ******

    THE SECRETARY-GENERAL
    REMARKS AT THE OPENING OF THE 4TH FINANCING FOR DEVELOPMENT CONFERENCE

    Your Majesties,

    Excellencies, ladies and gentlemen,

    I thank the Government and people of Spain for welcoming us to Sevilla for this important conference.

    For decades, the mission of sustainable development has united countries large and small, developed and developing.

    Together, we achieved progress.

    Reducing global poverty and hunger.

    Saving lives with stronger health care systems.

    Getting more children into school.
                                        
    Expanding opportunities for women and girls.

    And strengthening social safety nets.

    But today, development and its great enabler — international cooperation — are facing massive headwinds.

    We are living in a world where trust is fraying and multilateralism is strained.

    A world with a slowing economy, rising trade tensions, and decimated aid budgets.

    A world shaken by inequalities, climate chaos and raging conflicts. 

    The link between peace and development is clear.

    Nine of the ten countries with the lowest Human Development Indicators are currently in a state of conflict. 

    Excellencies,

    Financing is the engine of development.

    And right now, this engine is sputtering.

    As we meet, the 2030 Agenda for Sustainable Development — our global promise to transform our world for a better, fairer future — is in danger.

    Two-thirds of the Sustainable Development Goals targets are lagging.

    Achieving them requires an investment of more than $4 trillion a year.

    But this is not just a crisis of numbers. 

    It’s a crisis of people.

    Of families going hungry.

    Of children going unvaccinated.

    Of girls forced to drop out of school.

    We are here in Sevilla to change course.
     
    To repair and rev up the engine of development to accelerate investment at the scale and speed required.

    And to restore a measure of fairness and justice for all.

    Excellencies,

    The Sevilla Commitment document is a global promise to fix how the world supports countries as they climb the development ladder.

    I see three areas of action.

    First — we must get resources flowing. Fast.  

    Countries must lead by mobilizing domestic resources and investing in areas of greatest impact: schools, health care, social protection, decent work, and renewable energy.

    Unlocking these investments requires strengthening tax systems, and tackling illicit financial flows and tax evasion.

    And helping developing countries dedicate a greater share of their tax revenues to the systems people need.

    The Sevilla Commitment’s call on developed countries to double their aid dedicated to domestic resource mobilization to support this. 

    Multilateral and national development banks must unite to finance major investments. 

    This includes tripling the lending capacity of Multilateral Development Banks — and rechanneling Special Drawing Rights that can unlock lending capacity and help developing countries boost investment.

    We also need innovative funding solutions to unlock private capital.  

    Solutions that mitigate currency risks;

    That combine public and private finance more effectively, and ensure the risks and rewards of development projects are shared by both the public and private sectors; 

    And that ensure financial regulations assess risk appropriately and support investments in frontier markets.

    Second — we must fix the global debt system which is unsustainable, unfair and unaffordable.

    With annual debt service at $1.4 trillion, countries need — and deserve — a system that lowers borrowing costs, enables fair and timely debt-restructuring, and prevents debt crises in the first place.

    The Sevilla Commitment lays the groundwork:  

    With other aspects, by also creating a single debt registry for transparency, and promoting responsible lending and borrowing;

    By lowering the cost of capital through debt swaps and debt management support;

    And through debt service pauses in times of emergency.    

    And third — we must increase the participation of developing countries in the institutions of the global financial architecture. The present major shareholders have a role to play recognizing the importance of correcting injustices and adapting to a changing world. 

    A new borrowers forum will give voice to borrowers for fairer debt resolution and can foster transparency, shared learning and coordinated debt action.

    And we need a fairer global tax system shaped by all, not just a few.

    Excellencies, ladies and gentlemen,

    This conference is not about charity.

    It’s about restoring justice and lives of dignity.

    This conference is not about money.

    It’s about investing in the future we want to build, together.

    Thank you all for being part of this important and ambitious effort.
     

    MIL OSI United Nations News

  • MIL-OSI Submissions: Colorado’s fentanyl criminalization bill won’t solve the opioid epidemic, say the people most affected

    Source: The Conversation – USA – By Katherine LeMasters, Assistant Professor of Medicine, University of Colorado Boulder

    The people most impacted by Colorado’s fentanyl criminalization bill have divergent views on the role of the legal system in curbing the opioid epidemic. Erik McGregor/GettyImages

    Colorado passed the Fentanyl Accountability and Prevention Bill in May 2022. The legislation made the possession of small amounts of fentanyl a felony, rather than a misdemeanor.

    Felonies are more likely than misdemeanors to result in a prison sentence.

    Time in prison is associated with an increased risk of fatal overdose in the year after release. People with felonies on their record often struggle to find a job or rent an apartment.

    In 2023, lawmakers in 46 states passed legislation similar to Colorado’s. They introduced more than 600 bills related to fentanyl criminalization and enacted over 100 other laws to attempt to curb the opioid epidemic.

    Possession of small amounts of ketamine, GHB and other criminalized drugs is also a felony in Colorado.

    I’m an assistant professor of medicine, social epidemiologist and community researcher who studies mass incarceration as a public health threat. I am a member of the Right Response Coalition, which advocates for community rather than criminal-legal responses to behavioral health needs in Colorado. Recently, my work has focused on how increasing criminal penalties for fentanyl possession in Colorado affects the individuals and communities most impacted by such laws.

    Our team conducted 31 interviews with Colorado policymakers, peer support specialists, law enforcement, community behavioral health providers and people providing behavioral health in prisons and jails to explore a variety of perspectives on Colorado’s Fentanyl Accountability and Prevention Bill and the role of the criminal-legal system in addressing substance use and overdose.

    Most of our interviewees agreed that criminalization alone wouldn’t solve the opioid epidemic.

    “You can’t incarcerate yourself to sobriety,” said a rural law enforcement officer. “You can’t incarcerate yourself out of the drug problem in America.”

    Criminalization of drug use

    Incarceration and substance use are deeply intertwined. The U.S. houses one-quarter of the world’s incarcerated population – largely due to policies created during the “war on Drugs” of the 1980s. The war on drugs included mandatory minimum sentencing for drug-related charges and “three strikes” laws that lengthened sentences after multiple charges.

    Today, one-fifth of the U.S. incarcerated population has a drug-related charge.

    People recently released from incarceration are more likely to overdose than the general public because their tolerance is greatly reduced following forced abstinence and there are not enough community-based treatment options.
    Erik McGregor/GettyImages

    Incarceration is often seen as a deterrent, but research shows it is not actually associated with reduced drug use. Instead, people recently released from incarceration are more likely to die of a fatal overdose and face a high likelihood of reincarceration.

    Perspectives of front-line workers

    All 31 of the participants in our study supported policies to prevent fentanyl overdoses. However, most thought that use of police and incarceration as avenues to do so was misguided.

    We spoke to some individuals who felt the bill was appropriate, but most felt that increased criminalization perpetuates stigma against people who use drugs. They also saw the law as ignoring the root causes of the opioid epidemic, which include a lack of voluntary community-based treatment options. They also said the law creates stressful law enforcement encounters that can perpetuate drug use as a coping mechanism.

    “It just seems like there’s no getting away from [the police], they’re everywhere,” said an urban peer support specialist. “I got arrested by the same cops, I don’t know how many times. And then it makes you want to try to be avoidant or run because they’re not going to help you.”

    Participants worried that the policy has an inadvertent chilling effect, deterring individuals from calling 911 when an overdose occurs.

    “Most people with substance abuse are not trying to report anything or get help for fear of going to jail,” one rural provider said. “It’s so stigmatized that everyone’s just scared to do that.”

    Study participants worried that the Colorado fentanyl criminalization bill will deter people from reporting an overdose for fear of being arrested.
    Spencer Platt/GettyImages

    Participants largely thought that counties were using incarceration as a default treatment setting and that it wasn’t an ideal solution.

    “[I] don’t want to see [people] incarcerated, but I don’t want ‘em to die either,” said an urban peer support specialist.

    The people we interviewed pointed to a lack of community-based care options that could come before people are incarcerated. Those options include substance use treatment centers, mental health services and community health centers.

    Substance use treatment

    Colorado’s fentanyl bill did more than just increase penalties. It also provided additional funding for a state naloxone program and required that all jails provide medications for opioid use disorder.

    Along with increasing penalties, Colorado’s bill increased access to naloxone, an opioid-reversal drug.
    Hyoung Chang/GettyImages

    These medications include methadone, buprenorphine and extended-release naltrexone. All are part of an established public health strategy shown to reduce overdose deaths and opioid use. They’re also shown to increase engagement with non-jail-based treatment and reduce reincarceration.

    However, jail capacity and the lack of treatment options based in one’s community play a large role in which medications are offered and to whom. For example, only 11 out of Colorado’s 46 counties with a county jail have an opioid treatment program in the community that can dispense methadone. Therefore, some facilities do not offer all medications, or only offer medications to individuals with an active prescription or to certain populations such as pregnant people.

    Investing in community solutions

    Based on our study’s findings, my study co-authors and I believe increased criminal penalties should not be the solution for linking individuals to treatment. Instead, there should be more investment in long-term community solutions.

    One such solution is Denver’s Substance Use Navigation Program. The program sends behavioral health specialists to emergency calls to prevent legal involvement when someone is experiencing distress related to mental health, poverty, homelessness or substance use. In many cases, those individuals are then routed to services rather than jails.

    Our findings also lead us to believe there is a need for more participatory policymaking processes when it comes to fentanyl legislation, and that policymakers should more closely work with the people who will be most impacted by new legislation. Most of our participants agree.

    “[I] don’t think that [the] state realized how difficult it is,” said a rural provider about giving medication-assisted treatment in jail, an increasing need as more people are arrested for fentanyl possession. “They probably should come here and visit us.”

    Katherine LeMasters received funding from the Colorado Department of Human Services, Behavioral Health Administration. Katherine LeMasters is part of the Right Response Coalition.

    ref. Colorado’s fentanyl criminalization bill won’t solve the opioid epidemic, say the people most affected – https://theconversation.com/colorados-fentanyl-criminalization-bill-wont-solve-the-opioid-epidemic-say-the-people-most-affected-256661

    MIL OSI

  • MIL-OSI: Karolinska Development divests shares in portfolio company OssDsign

    Source: GlobeNewswire (MIL-OSI)

    STOCKHOLM, SWEDEN, June 30, 2025. Karolinska Development AB (Nasdaq Stockholm: KDEV) divests its remaining shares in the portfolio company OssDsign and thereby strengthens the investment company’s liquidity. The divestments brings Karolinska Development a capital injection of approximately SEK 34.5 million.

    Karolinska Development has been a long-term owner of OssDsign and was involved in the listing of the company on Nasdaq First North Growth Market in Stockholm in 2019.

    “We have been on a long journey with OssDsign and supported the company through several important stages. In recent periods, OssDsign has demonstrated strong value development, which is also reflected in the share price. We have decided to realize the profit in Karolinska Development’s holdings and prioritize other investments where we see greater value creation potential, and a higher possible return on investment. The sale strengthens our financial position and increases our capacity to invest in other holdings,” says Viktor Drvota, CEO Karolinska Development.

    Following the divestment, Karolinska Development has no direct ownership in OssDsign, but an indirect ownership via KCIF Co-Investment Fund remains.

    For further information, please contact:

    Viktor Drvota, CEO, Karolinska Development AB
    Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com

    Johan Dighed, General Counsel and Deputy CEO, Karolinska Development AB
    Phone: +46 70 207 48 26, e-mail: johan.dighed@karolinskadevelopment.com

    TO THE EDITORS

    About Karolinska Development AB

    Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying breakthrough medical innovations in the Nordic region that are developed by entrepreneurs and leadership teams. The Company invests in the creation and growth of companies that advance these assets into commercial products that are designed to make a difference to patients’ lives while providing an attractive return on investment to shareholders.

    Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The Company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success.

    Karolinska Development has a portfolio of eleven companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.

    The Company is led by an entrepreneurial team of investment professionals with a proven track record as company builders and with access to a strong global network.

    For more information, please visit www.karolinskadevelopment.com.

    Attachment

    The MIL Network

  • MIL-OSI Russia: Canada to scrap digital services tax to advance broader US trade talks

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    OTTAWA, June 29 (Xinhua) — Canada will scrap its digital services tax pending a mutually beneficial comprehensive trade deal with the United States, Finance Minister Francois-Philippe Champagne said Sunday.

    Canadian Prime Minister Mark Carney and US President Donald Trump have agreed to resume talks with the goal of completing a deal by July 21, according to the Treasury Department.

    F-F. Champagne will soon introduce a bill to repeal the Digital Services Tax Act, the department said in a statement.

    M. Carney called the negotiations “difficult,” commenting on D. Trump’s statement about ending all trade negotiations with Canada and considering the possibility of introducing new tariffs.

    “We will continue to engage in these difficult negotiations in the best interests of Canadians,” Mr. Carney told local media.

    D. Trump said the United States is ending negotiations in response to Canada’s planned digital services tax on American tech companies.

    The American leader called the tax a “direct and blatant attack” on the United States.

    The tax, which was set to go into effect Monday, would have levied three percent of revenue from Canadian users on U.S. companies such as Amazon, Google and Meta. –0–

    MIL OSI Russia News

  • MIL-OSI: Danske Bank share buy-back programme: transactions in week 26

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 31 2025

    Danske Bank

    Bernstorffsgade 40

    DK-1577 København V

    Tel. + 45 33 44 00 00

    30 June 2025

    Page 1 of 1

    Danske Bank share buy-back programme: transactions in week 26

    On 7 February 2025, Danske Bank A/S announced a share buy-back programme for a total of DKK 5 billion, with a maximum of 45,000,000 shares, in the period from 10 February 2025 to 30 January 2026, at the latest, as described in company announcement no. 6 2025.

    The Programme is carried out in accordance with Article 5 of Regulation (EU) No 596/2014 of the European Parliament and Council of 16 April 2014 (the “Market Abuse Regulation”) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (together with the Market Abuse Regulation, the “Safe Harbour Rules”).

    The following transactions on Nasdaq Copenhagen A/S were made under the share buy-back programme in week 26:

      Number of shares VWAP DKK Gross value DKK
    Accumulated, last announcement 7,250,338 230.5860 1,671,826,202
    23 June 2025 175,184 253.1630 44,350,107
    24 June 2025 191,968 258.7310 49,668,073
    25 June 2025 50,000 257.8930 12,894,650
    26 June 2025 50,000 255.8267 12,791,335
    27 June 2025 50,000 258.6284 12,931,420
    Total accumulated over week 26 517,152 256.4731 132,635,585
    Total accumulated during the share buyback programme 7,767,490 232.3095 1,804,461,787

    With the transactions stated above, the total accumulated number of own shares under the share buy-back programme corresponds to 0.930% of Danske Bank A/S’ share capital.

    Danske Bank

    Contact: Claus Ingar Jensen, Head of Group Investor Relations, tel. +45 25 42 43 70

    Attachment

    The MIL Network

  • MIL-OSI Video: Opening & 1st Plenary- 4th International Conference on Financing for Development FFD4 Sevilla, Spain

    Source: United Nations (video statements)

    The 4th International Conference on Financing for Development (FFD4) will be held in Sevilla, Spain, from 30 June to 3 July 2025. The Conference will bring together global leaders and key stakeholders to accelerate action and partnerships to finance sustainable development and achieve the SDGs. The opening will mark the official launch of the Conference and set the tone for a week of high-level engagement and dialogue.

    The opening of the FFD4 Conference will feature statements by high-level dignitaries including Pedro Sánchez, President of the Conference and the President of the Government of Spain; António Guterres, Secretary-General of the United Nations; Philemon Yang, President of the UN General Assembly; Bob Rae, President of ECOSOC; Ajay Banga, President of the World Bank Group; Ngozi Okonjo-Iweala, Director-General of the WTO; and Li Junhua, Secretary-General of the Conference and a Representative of the International Monetary Fund. Following the opening remarks, the Conference will address key procedural matters. The opeing statments will be followed a general debate and statements by Heads of State or Government, ministers, and heads of delegation, setting the stage for a week of high-level discussions on mobilizing financing for the SDGs.

    More info: https://financing.desa.un.org/FFD4

    To watch all other events from FF4D in all languages, visit: https://webtv.un.org/en/search/categories/meetings-events/conferences/international-conference-financing-development/fourth-session

    https://www.youtube.com/watch?v=G03SASjftAE

    MIL OSI Video

  • Nirmala Sitharaman embarks on official visit to Spain, Portugal, and Brazil for high-level multilateral engagements

    Source: Government of India

    Source: Government of India (4)

    Union Finance and Corporate Affairs Minister Nirmala Sitharaman embarked on an official six-day visit to Spain, Portugal, and Brazil on Monday.

    Leading a delegation from the Department of Economic Affairs, Ministry of Finance, Sitharaman is set to participate in a series of high-level multilateral and bilateral engagements during the visit, which runs from June 30 to July 5, the Ministry of Finance said in a statement.

    During her visit to Seville, Spain, the Finance Minister will represent India at the 4th International Conference on Financing for Development (FFD4), organised by the United Nations. She is scheduled to deliver India’s national statement at the conference, reaffirming India’s commitment to sustainable development and inclusive growth.

    In addition, Sitharaman will deliver the keynote address at the International Business Forum Leadership Summit, themed “From FFD4 Outcome to Implementation: Unlocking the Potential of Private Capital for Sustainable Development.” Her engagements in Spain will also include bilateral meetings with senior ministers from Germany, Peru, and New Zealand, as well as discussions with the President of the European Investment Bank (EIB).

    Following her engagements in Spain, the Finance Minister will travel to Lisbon, Portugal, where she is expected to meet with her Portuguese counterpart for bilateral discussions. She will also engage with prominent investors and members of the Indian diaspora to deepen economic and cultural ties between India and Portugal.

    The final leg of her visit will take place in Rio de Janeiro, Brazil. There, Sitharaman will represent India at the 10th Annual Meeting of the New Development Bank (NDB), where she serves as India’s Governor. She will also attend the first BRICS Finance Ministers and Central Bank Governors Meeting (FMCBG), reinforcing India’s active role in shaping the economic agenda of the BRICS bloc.

    As part of the NDB’s flagship event, the Finance Minister will speak at the Governors Seminar on “Building a Premier Multilateral Development Bank for the Global South,” highlighting India’s vision for inclusive financial institutions. She is also scheduled to hold bilateral meetings on the sidelines with her counterparts from Brazil, China, Indonesia, and Russia, focusing on key areas of mutual economic interest and multilateral cooperation.

  • MIL-OSI: Bitget Lists NodeOps (NODE) for Spot Trading

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, June 30, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of NodeOps (NODE) in the Innovation, AI, and DePIN Zone, adding it to spot trading. NodeOps is a DePIN infrastructure platform. Trading for the NODE/USDT pair will begin on 30 June 2025, 10:00 (UTC), with withdrawals available from 1 July 2025, 11:00 (UTC).

    NodeOps is building a full-stack solution to make make decentralized computing simple, reliable, and accessible at scale. Its architecture is built on two layers: the foundational NodeOps Network protocol, which coordinates decentralized physical infrastructure (DePIN), and a suite of user-facing products, including NodeOps Cloud, Console, Agent Terminal, Staking Hub, and Security Hub, that streamlines deployment and management. At the core of the ecosystem is the NODE token, which powers coordination, rewards real work, and governs the network. With a revenue-backed mint-and-burn model, NODE ensures sustainable value, secures the infrastructure, and enables access to premium features, aligning incentives and supporting long-term growth across the NodeOps ecosystem. NodeOps Network has built the foundation for sustainable infrastructure coordination that scales with actual demand while maintaining the decentralization and cost advantages that make Web3 infrastructure superior to traditional cloud services.

    Bitget continues to expand its offerings, positioning itself as a leading platform for cryptocurrency trading. The exchange has established a reputation for innovative solutions that empower users to explore crypto within a secure CeDeFi ecosystem. With an extensive selection of over 800 cryptocurrency broadening and a commitment to broaden its offerings to more than 900 trading pairs, Bitget connects users to various ecosystems, including Bitcoin, Ethereum, Solana, Base, and TON. The addition of NodeOps into Bitget’s portfolio marks a significant step toward expanding its ecosystem by embracing niche communities and fostering innovation in decentralized economies, further solidifying its role as a gateway to diverse Web3 projects and cultural movements.

    For more details on NodeOps, visit here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

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

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

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

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/455f6a0f-61f1-4444-b37c-416c594a97a3

    The MIL Network

  • MIL-OSI Banking: CNB cuts red tape further: relief package for the financial market enters into force

    Source: Czech National Bank

    The Czech National Bank is simplifying doing business in the financial market. As of 1 July 2025, it will abolish dozens of redundant rules and unjustified administrative requirements set out in 19 decrees. This will ease the regulatory burden on financial institutions, allowing them to devote more time and resources to client care, innovation and service development. The CNB’s decision is based on the findings of its own gold plating analysis in the area of financial market regulation, completed earlier this year.

    The new decree, effective from 1 July 2025, will eliminate requirements in areas governed by EU law where Czech legislation has so far gone beyond the relevant EU rules. Most often these are details of rules laid down by law or administrative acts that are no longer of practical use.

    “We have already scrapped 14 official information documents and are now getting rid of more rules and reporting duties from our decrees – 36 unnecessary measures in total. We’re delivering on our promise. Financial institutions will no longer have to complete reports that provide no new information or resubmit information the CNB already has. We’re cutting red tape and making it easier to do business. Our aim is clear: less paperwork, more room for business,” said Czech National Bank Governor Aleš Michl.

    A number of obligations are set out directly in law, and changes to legislation do not fall within the remit of the central bank. The CNB has therefore proposed to the Ministry of Finance the abolition of a further 41 obligations or restrictions that could significantly reduce the regulatory burden on the financial market.

    In recent decades, there has been a substantial increase in regulatory requirements in financial services – often due to gold plating, i.e. where Czech regulations impose additional obligations on market participants beyond those required by the European Union. This has resulted in higher administrative and operational costs, which may indirectly affect the availability and prices of financial services for clients. The change introduced by the CNB contributes to improving the regulatory environment, strengthens competitiveness and supports the further development of the financial market in the Czech Republic.

    Selected examples of changes

    Banks and branches of foreign banks

    The loan concentration and profit distribution statements are being abolished. The CNB will obtain the necessary data from other sources, saving banks time and reporting costs.

    National requirements on risk management, asset assessment and information disclosure are being repealed – European regulation and international accounting standards (for example, IFRS 9) are sufficient.

    Collective investment

    Real estate fund administrators are no longer required to report detailed information on the expert committee – such as its members’ education and professional experience – separately to the CNB. The CNB will obtain the information it needs about the expert committee for the purpose of carrying out its tasks from other available sources.

    The “Structure of assets of a managed fund” statement is being abolished, as most of the information it contains can be obtained from other, more detailed statements. European regulation does not require the submission of this statement.

    Pan-European Personal Pension Product (PEPP) distributors

    The notification of the start and end of PEPP distribution is being simplified, and the statement containing, for example, the number of contracts concluded or the volume of investments, is being abolished. European regulation does not require the collection of these data.

    General licensing requirements (for example, activities on the capital market, insurance and reinsurance distribution, supplementary pension savings, consumer credit, the non-performing loan market and collective investment)

    An affidavit of legal capacity now only needs to be submitted if the person being assessed is not listed in the basic registers and no other usable documentation is available.

    Jakub Holas
    Director, CNB Communications Division

    MIL OSI Global Banks

  • MIL-Evening Report: Here’s how First Nations landholders can share the benefits of the NSW energy transition

    Source: The Conversation (Au and NZ) – By Heidi Norman, Professor of Australian and Aboriginal history, Faculty of Arts, Design and Architecture, Convenor: Indigenous Land & Justice Research Group, UNSW Sydney

    Hay Local Aboriginal Land Council staff and members with researchers and actuaries from Finity Consulting. UNSW Indigenous Land and Justice Research Group

    The shift to clean, renewable sources of energy presents a rare opportunity for First Nations people, not only as energy users but as landholders.

    We wanted to explore the potential for First Nations land in the energy transition across New South Wales. The transition is well underway, but the pace must accelerate to meet state targets for 2030 and beyond.

    Our new report found the state’s 121 Aboriginal Land Councils have an opportunity to partner with renewable developers and build solar, wind or transmission lines on their own land.

    Such projects can offer jobs during construction and a smaller number of ongoing positions, as well as annual payments. This is why farmers and other landholders often look to renewable projects as a reliable source of income.

    To date, the 447 square kilometres of the state owned by Aboriginal Land Councils has not been actively used in the energy transition. As a result, First Nations involvement in the transition has been limited and the renewables boom has not flowed to these communities.

    Making this opportunity a reality will require collaboration with governments, electricity networks and industry, as well as policy support.

    The role of land councils

    In NSW, land councils have been operating since 1983, the year the state government passed laws recognising Aboriginal land rights. About a third of Australia’s First Nations people live in NSW.

    Each land council is governed by Aboriginal members, and they are located in most country towns and across Sydney.

    Land councils have a statutory responsibility “to improve, protect and foster the best interests of all Aboriginal persons within the Council’s area and other persons who are members of the Council”. These councils manage their land to protect culture and heritage.

    Generating wealth through the development of Aboriginal land is a key objective of Aboriginal land rights in NSW.

    Aboriginal goals in the energy transition

    Following analysis of the land potentially available to renewable energy projects, our research moved on to exploring what Aboriginal land councils want from the energy transition.

    We ran workshops with three land councils: Tibooburra in the far northwest, Hay in the southwest and Brewarrina in the northwest of the state. Each had expressed interest in renewable developments and concern around exposure to extreme weather events.

    In these workshops, land council members told us about their priorities for energy.

    Reliable energy was a major concern for Tibooburra, far from the main electricity grid.

    For Brewarrina on the Barwon River, energy security in the face of heatwaves and floods was front of mind. High energy bills in housing ill-equipped for extreme weather was another big issue.

    Members of Hay land council told us they wanted ownership and equity share in renewable energy projects. Their goal was to create opportunities to live, work and care for Country.

    The Hay Local Aboriginal Land Council (brown) is found in the South-West Renewable Energy Zone, while Tibooburra (green) and Brewarrina (orange) land councils are more remote.
    Norman, H., et al. (2025) APPI Policy Insights Paper, CC BY-NC-SA

    Renewable energy, First Nations land

    Aboriginal land councils own and manage about 450 square km of land in NSW. Resolving outstanding land claims would further expand the estate.

    Our analysis reveals current land holdings could host up to 11 gigawatts of solar or 1.6 gigawatts of onshore wind energy projects.

    But several barriers stand in the way. There are long delays in the processing of Aboriginal land claims and the return of vacant Crown Land. This limits options for land councils to contribute to renewable energy development.

    Realising opportunities in the energy transition

    Our case studies demonstrate the potential for Aboriginal land to support the state government’s renewable energy efforts. This can also bring economic and social benefits to Aboriginal communities. But the opportunities will vary from place to place.

    In areas at the edge of the grid, such as Tibooburra and Brewarrina, Aboriginal land could help meet regional energy demand through small to mid-scale wind and solar projects, microgrids and batteries.

    Hay Local Aboriginal Land Council, on the other hand, is in the South-West Renewable Energy Zone. This is an area where new renewable energy projects, storage facilities and high-voltage transmission lines are already being constructed. Land under claim here holds huge economic potential for both mid-scale renewable energy (solar installations feeding into the local electricity network) and large-scale renewable energy projects.

    Unlocking the power of renewable energy zones (NSW EnergyCo)

    How can authorities support land councils?

    At present, local Aboriginal Land Councils need expertise and resources to turn this opportunity into reality.

    Our report identified four broad areas for policy reform:

    1. Build capacity for land councils to manage clean energy opportunities and risks on their landholdings. This could include establishing a dedicated government team to support interested land councils, and funding land councils to engage expertise and develop renewable energy projects.

    2. Enable collaboration between electricity network distributors and land councils to set up microgrids. One case study, Tibooburra Local Aboriginal Land Council had land suitable for a microgrid and battery to support the energy provider. But early-stage support is needed to develop such projects.

    3. Pilot programs to develop mid- and large-scale renewable energy projects on land council holdings. A partnership between lands councils and planning authorities could demonstrate a model for arranging approval processes. Programs by the Clean Energy Finance Corporation and the Australian Renewable Energy Agency have proven successful in the past. We recommend funding these organisations to run a program for land council-developer partnerships in large-scale renewables.

    4. Strengthen recognition of Aboriginal rights to unlock the renewable energy potential of Aboriginal land. This could include expediting land claims and land transfers and providing incentives for cooperation between land councils and Traditional Owners.

    The next five years will be crucial for NSW’s renewable energy transition. Getting the foundations right now could empower Aboriginal landholders and their regional communities to get the most out of this once-in-a-generation opportunity.

    Heidi Norman receives funding from the Australian Research Council, Australian Public Policy Institute, Boundless and the NSW Government.

    Saori Miyake receives funding from Australian Public Policy Institute and Boundless for this project.

    Sarah Niklas receives funding from the Australian Public Policy Institute and Boundless for this project.

    Therese Apolonio receives funding from Australian Public Policy Institute, Boundless and the NSW Government.

    ref. Here’s how First Nations landholders can share the benefits of the NSW energy transition – https://theconversation.com/heres-how-first-nations-landholders-can-share-the-benefits-of-the-nsw-energy-transition-259702

    MIL OSI AnalysisEveningReport.nz

  • More Indians now invest in equities as financialisation of household savings rises: SBI

    Source: Government of India

    Source: Government of India (4)

    The financialisation of household savings in India has gained significant momentum, with the share of equities in household savings rising from 2.5 per cent in FY20 to 5.1 per cent in FY24, according to an SBI Research report released on Monday.

    The report noted that the Indian credit market is witnessing structural shifts, with headline bank credit growth figures potentially masking underlying trends. It added that, going forward, the sources of credit origination through bank deposits—primarily household savings—need to be closely monitored.

    According to the report, public sector banks (PSBs) are expected to show stable growth of 12.2 per cent in FY25, compared to a growth rate of 13.6 per cent in FY24.

    However, PSBs’ share in incremental credit has increased significantly, rising to 56.9 per cent in FY25 from 20 per cent in FY18.

    “The government’s 4R strategy—recognition, resolution, recapitalisation, and reforms—has reaped rich dividends. The asset quality in the banking system is now at a record low of 2.6 per cent in H1 FY25, down from 11.5 per cent in FY18,” the report stated.

    After 14 years of decline, PSBs’ share in outstanding credit has improved to 52.3 per cent in FY25, up from 51.8 per cent in FY24 and down from 75.1 per cent in FY10.

    Sectoral credit growth indicates that lending to various sectors has moderated, driven by a slowdown in credit to the services sector and agriculture and allied activities.

    The share of personal loans in incremental credit growth has declined to 37 per cent in FY25 from 43 per cent in FY24, while the industry’s share has increased to 17 per cent in FY25 from 11 per cent in FY24.

    “The X factor in credit growth is credit to the MSME sector, which has risen by 17.8 per cent year-on-year,” said Dr Soumya Kanti Ghosh, Group Chief Economic Advisor, State Bank of India.

    “Interestingly, MSMEs depend greatly on large corporates through backward integration (and at times, forward integration). Hence, MSME activity levels could be a useful gauge of overall corporate activity, with all financing channels—banks and non-banks—embedded holistically,” he noted.

    Moreover, private credit deals totalled Rs 774 billion in FY24, marking a 7 per cent growth over CY23. This growth is helping meet the diverse financing needs of India Inc. through tailored solutions, primarily via Alternative Investment Funds (AIFs), while the issuance of Non-Convertible Debentures (NCDs) also remains prevalent.

    –IANS

  • MIL-OSI: Bitcoin + Personal Loans: Why Ready Payday Loans Just Acquired Omega 88

    Source: GlobeNewswire (MIL-OSI)

    SILICON VALLEY, Calif., June 30, 2025 (GLOBE NEWSWIRE) — Ready Payday Loans, one of the most visited platforms in the U.S. for best personal loans, has finalized the acquisition of Omega 88, a Bitcoin blockchain start-up founded by Canadian tech entrepreneurs Chad Canuck and Roger Maple. The move, both surprising and disruptive, signals a dramatic intersection between the traditional lending space and the decentralized power of Bitcoin-based infrastructure.

    While the amount of the acquisition remains undisclosed, multiple sources close to the matter say the transaction was finalized earlier this month and marks a new era in consumer finance.

    Ready Payday Loans, long known for helping everyday Americans access fast personal loans online, now appears to be quietly reshaping how those loans are underwritten, approved, and distributed—through technology born out of Bitcoin’s cryptographic foundation.

    Ready Payday Loans connects borrowers with fast, secure options—often with same-day approval and no credit check required.

    Why a Best Personal Loans Marketplace Is Investing in Bitcoin Technology

    The announcement has sparked significant conversation among both traditional finance analysts and crypto-native experts. Why would a platform designed to help consumers find low-interest personal loans invest in a company known primarily for blockchain innovation?

    Vice President Randy Murrie didn’t offer much clarity when asked, saying only:
    “Ready Payday Loans has no official comment regarding this recent takeover. All I can tell you is that some big things are ready to happen on our end.”

    Yet behind the scenes, it’s clear this isn’t just an investment—it’s a signal. A shift in how Ready Payday Loans envisions the future of digital lending, particularly in high-volume search categories like best personal loans for bad credit, online personal loans with no credit check, and same-day loan approval.

    Omega 88: The Bitcoin Start-Up Rebuilding Financial Infrastructure

    Founded in the heart of Silicon Valley, Omega 88 was launched in stealth by Canuck and Maple—two Canadian expats known for their contrarian thinking and interest in decentralizing traditional financial processes.

    What makes Omega 88 unique is its Bitcoin-first philosophy. According to insiders, the platform uses a hybrid consensus mechanism blending proof-of-work (PoW) with delegated proof-of-stake (DPoS), offering both Bitcoin-grade security and enterprise-grade scalability.

    Omega 88’s infrastructure also reportedly supports:

    • Rust-based smart contracts
    • Zero-knowledge proof encryption (ZK proofs)
    • 3,000+ TPS processing speed
    • Cross-chain compatibility with Ethereum and Solana

    The company recently closed Phase 9 of its token presale, raising more than $7 million from early investors. Many of those investors are now speculating about how the technology might be used in real-world applications, particularly decentralized identity, credit scoring, and blockchain-based lending systems.

    When asked about the decision to sell, co-founder Roger Maple responded:
    “We didn’t go looking for this deal. But when Ready Payday Loans approached us with a long-term vision tied to financial inclusion, it just clicked.”

    Bitcoin’s Role in Delivering the Best Personal Loans Online

    The strategic implications of this acquisition are massive.

    On the surface, Ready Payday Loans is a consumer-facing marketplace helping Americans find:

    But under the hood, the company may now be building a blockchain-powered lending engine—one that uses Bitcoin as a technical foundation rather than a currency. By utilizing Omega 88’s infrastructure, Ready Payday Loans could soon offer a more secure, transparent, and efficient application experience backed by verifiable smart contracts and encrypted borrower identities.

    Take control of your financial future today.
    Visit Ready Payday Loans to compare loan options, get matched in minutes, and apply for the best personal loan offers available in 2025.

    Industry Reactions: From Lending to Ledger-Based Verification

    The broader financial industry is taking notice.

    “This is the first time we’ve seen a major U.S. personal loan platform directly acquire a Bitcoin-native infrastructure company,” said fintech strategist Angela Ruiz. “What’s exciting is the possibility of back-end transparency and real-time loan settlement using smart contracts. It’s the future of consumer lending.”

    Ruiz believes this move could also lead to the launch of tokenized credit systems, where borrower reputation is tracked securely on a blockchain—reducing fraud, improving approval times, and lowering overall loan risk.

    Other experts believe that integrating Bitcoin-backed verification tools into the loan matching process could dramatically shorten underwriting timelines, especially for borrowers with limited credit histories.

    Silicon Valley Expansion: More Than Just Code

    As part of the acquisition, Ready Payday Loans confirmed that Omega 88 will remain a standalone brand, continuing operations under its own name while benefiting from strategic alignment with its parent company.

    To support upcoming product rollouts, Ready Payday Loans will launch:

    • A new R&D center in San Jose
    • Strategic hiring of blockchain engineers, AI credit analysts, and UX designers
    • Early testing of blockchain-loan integration across its lender network

    Roger Maple described the integration strategy as “mutual autonomy,” with Omega 88 continuing to build core protocols while Ready Payday Loans applies them to consumer lending use cases.

    “We’re not here to add blockchain for buzzwords,” Maple said. “We’re here to use Bitcoin logic to solve real credit problems in real time.”

    What Borrowers Can Expect Today — and Tomorrow

    While blockchain-based features are still in development, U.S. consumers can continue to rely on Ready Payday Loans for:

    As Omega 88’s tools are integrated over time, borrowers may eventually benefit from:

    • Blockchain-verified credit assessments
    • Tamper-proof loan terms
    • Bitcoin-secured identity authentication
    • Faster, more accurate approvals

    “Even if users don’t realize it, they could soon be getting personal loans powered by Bitcoin protocols,” said one product lead. “That’s where the industry is going—and we’re getting there first.”

    Bitcoin as a Financial Backbone — Not Just an Asset

    The deeper message here is that Bitcoin is evolving.

    No longer just a speculative store of value, Bitcoin is increasingly being used as a foundation for broader financial systems. Through Omega 88, its cryptographic architecture could now power everything from loan verification and document handling, to borrower rewards and repayment automation.

    And in the hands of Ready Payday Loans, this evolution may be visible in ways most consumers never expected—from lower APRs to fewer application barriers and increased approval speed.

    Call to Action: Experience the Future of Lending Today

    Whether you’re a first-time borrower or a crypto-curious consumer, Ready Payday Loans is redefining what it means to apply for a loan in 2025.

    Get started now:

    Don’t wait for the future — borrow from it.
    Explore your options at Ready Payday Loans, where Bitcoin technology meets consumer-first lending.

    Disclaimer:

    This press release is for informational purposes only and does not constitute investment advice, financial guidance, or an offer to buy or sell financial products. Always consult a licensed financial advisor before making credit or investment decisions. Bitcoin and blockchain assets involve volatility and may not be suitable for all borrowers. Use responsibly.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/96986fd3-3f07-47ed-828c-aa25b8c76169

    The MIL Network

  • MIL-OSI: Bitcoin + Personal Loans: Why Ready Payday Loans Just Acquired Omega 88

    Source: GlobeNewswire (MIL-OSI)

    SILICON VALLEY, Calif., June 30, 2025 (GLOBE NEWSWIRE) — Ready Payday Loans, one of the most visited platforms in the U.S. for best personal loans, has finalized the acquisition of Omega 88, a Bitcoin blockchain start-up founded by Canadian tech entrepreneurs Chad Canuck and Roger Maple. The move, both surprising and disruptive, signals a dramatic intersection between the traditional lending space and the decentralized power of Bitcoin-based infrastructure.

    While the amount of the acquisition remains undisclosed, multiple sources close to the matter say the transaction was finalized earlier this month and marks a new era in consumer finance.

    Ready Payday Loans, long known for helping everyday Americans access fast personal loans online, now appears to be quietly reshaping how those loans are underwritten, approved, and distributed—through technology born out of Bitcoin’s cryptographic foundation.

    Ready Payday Loans connects borrowers with fast, secure options—often with same-day approval and no credit check required.

    Why a Best Personal Loans Marketplace Is Investing in Bitcoin Technology

    The announcement has sparked significant conversation among both traditional finance analysts and crypto-native experts. Why would a platform designed to help consumers find low-interest personal loans invest in a company known primarily for blockchain innovation?

    Vice President Randy Murrie didn’t offer much clarity when asked, saying only:
    “Ready Payday Loans has no official comment regarding this recent takeover. All I can tell you is that some big things are ready to happen on our end.”

    Yet behind the scenes, it’s clear this isn’t just an investment—it’s a signal. A shift in how Ready Payday Loans envisions the future of digital lending, particularly in high-volume search categories like best personal loans for bad credit, online personal loans with no credit check, and same-day loan approval.

    Omega 88: The Bitcoin Start-Up Rebuilding Financial Infrastructure

    Founded in the heart of Silicon Valley, Omega 88 was launched in stealth by Canuck and Maple—two Canadian expats known for their contrarian thinking and interest in decentralizing traditional financial processes.

    What makes Omega 88 unique is its Bitcoin-first philosophy. According to insiders, the platform uses a hybrid consensus mechanism blending proof-of-work (PoW) with delegated proof-of-stake (DPoS), offering both Bitcoin-grade security and enterprise-grade scalability.

    Omega 88’s infrastructure also reportedly supports:

    • Rust-based smart contracts
    • Zero-knowledge proof encryption (ZK proofs)
    • 3,000+ TPS processing speed
    • Cross-chain compatibility with Ethereum and Solana

    The company recently closed Phase 9 of its token presale, raising more than $7 million from early investors. Many of those investors are now speculating about how the technology might be used in real-world applications, particularly decentralized identity, credit scoring, and blockchain-based lending systems.

    When asked about the decision to sell, co-founder Roger Maple responded:
    “We didn’t go looking for this deal. But when Ready Payday Loans approached us with a long-term vision tied to financial inclusion, it just clicked.”

    Bitcoin’s Role in Delivering the Best Personal Loans Online

    The strategic implications of this acquisition are massive.

    On the surface, Ready Payday Loans is a consumer-facing marketplace helping Americans find:

    But under the hood, the company may now be building a blockchain-powered lending engine—one that uses Bitcoin as a technical foundation rather than a currency. By utilizing Omega 88’s infrastructure, Ready Payday Loans could soon offer a more secure, transparent, and efficient application experience backed by verifiable smart contracts and encrypted borrower identities.

    Take control of your financial future today.
    Visit Ready Payday Loans to compare loan options, get matched in minutes, and apply for the best personal loan offers available in 2025.

    Industry Reactions: From Lending to Ledger-Based Verification

    The broader financial industry is taking notice.

    “This is the first time we’ve seen a major U.S. personal loan platform directly acquire a Bitcoin-native infrastructure company,” said fintech strategist Angela Ruiz. “What’s exciting is the possibility of back-end transparency and real-time loan settlement using smart contracts. It’s the future of consumer lending.”

    Ruiz believes this move could also lead to the launch of tokenized credit systems, where borrower reputation is tracked securely on a blockchain—reducing fraud, improving approval times, and lowering overall loan risk.

    Other experts believe that integrating Bitcoin-backed verification tools into the loan matching process could dramatically shorten underwriting timelines, especially for borrowers with limited credit histories.

    Silicon Valley Expansion: More Than Just Code

    As part of the acquisition, Ready Payday Loans confirmed that Omega 88 will remain a standalone brand, continuing operations under its own name while benefiting from strategic alignment with its parent company.

    To support upcoming product rollouts, Ready Payday Loans will launch:

    • A new R&D center in San Jose
    • Strategic hiring of blockchain engineers, AI credit analysts, and UX designers
    • Early testing of blockchain-loan integration across its lender network

    Roger Maple described the integration strategy as “mutual autonomy,” with Omega 88 continuing to build core protocols while Ready Payday Loans applies them to consumer lending use cases.

    “We’re not here to add blockchain for buzzwords,” Maple said. “We’re here to use Bitcoin logic to solve real credit problems in real time.”

    What Borrowers Can Expect Today — and Tomorrow

    While blockchain-based features are still in development, U.S. consumers can continue to rely on Ready Payday Loans for:

    As Omega 88’s tools are integrated over time, borrowers may eventually benefit from:

    • Blockchain-verified credit assessments
    • Tamper-proof loan terms
    • Bitcoin-secured identity authentication
    • Faster, more accurate approvals

    “Even if users don’t realize it, they could soon be getting personal loans powered by Bitcoin protocols,” said one product lead. “That’s where the industry is going—and we’re getting there first.”

    Bitcoin as a Financial Backbone — Not Just an Asset

    The deeper message here is that Bitcoin is evolving.

    No longer just a speculative store of value, Bitcoin is increasingly being used as a foundation for broader financial systems. Through Omega 88, its cryptographic architecture could now power everything from loan verification and document handling, to borrower rewards and repayment automation.

    And in the hands of Ready Payday Loans, this evolution may be visible in ways most consumers never expected—from lower APRs to fewer application barriers and increased approval speed.

    Call to Action: Experience the Future of Lending Today

    Whether you’re a first-time borrower or a crypto-curious consumer, Ready Payday Loans is redefining what it means to apply for a loan in 2025.

    Get started now:

    Don’t wait for the future — borrow from it.
    Explore your options at Ready Payday Loans, where Bitcoin technology meets consumer-first lending.

    Disclaimer:

    This press release is for informational purposes only and does not constitute investment advice, financial guidance, or an offer to buy or sell financial products. Always consult a licensed financial advisor before making credit or investment decisions. Bitcoin and blockchain assets involve volatility and may not be suitable for all borrowers. Use responsibly.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/96986fd3-3f07-47ed-828c-aa25b8c76169

    The MIL Network

  • MIL-OSI: 37/2025・Trifork Group: Weekly report on share buyback

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 37 / 2025
    Schindellegi, Switzerland – 30 June 2025

    Trifork Group: Weekly report on share buyback

    On 28 February 2025, Trifork initiated a share buyback program in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and Commission Delegated Regulation (EU) 2016/1052, (Safe Harbour regulation). The share buyback program runs from 4 March 2025 up to and including no later than 30 June 2025. For details, please see company announcement no. 7 of 28 February 2025.

    Under the share buyback program, Trifork will purchase shares for up to a total of DKK 14.92 million (approximately EUR 2 million). Prior to the launch of the share buyback, Trifork held 256,329 treasury shares, corresponding to 1.3% of the share capital. Under the program, the following transactions have been made:

            Number of shares        Average purchase price (DKK)        Transaction value (DKK)
    Total beginning 122,459 88.90 10,886,082
    23 June 2025 1,765 96.05 169,528
    24 June 2025 1,900 97.32 184,908
    25 June 2025 1,900 96.01 182,419
    26 June 2025 1,900 95.05 180,595
    27 June 2025 1,900 93.31 177,289
    Accumulated 131,824 89.37 11,780,821

    A detailed overview of the daily transactions can be found here: https://investor.trifork.com/trifork-shares/

    Since the share buyback program was started on 4 March 2025, the total number of repurchased shares is 131,824 at a total amount of DKK 11,780,821.
    On 25 March, 25 April, 23 May and 25 June 2025, 5,739 shares acquired through the share buyback program were utilized for the Executive Management’s monthly fixed salary, representing a change from cash payment to payment partly in shares (refer to company announcement no. 1 of 21 January 2025). On 1 April 2025, 19,943 shares acquired through the share buyback program were utilized to serve the RSU plan of Executive Management and certain employees.

    With the transactions stated above, Trifork holds a total of 363,840 treasury shares, corresponding to 1.8%. The total number of registered shares in Trifork is 19,744,899. Adjusted for treasury shares, the number of outstanding shares is 19,381,059.

    Investor and media contact
    Frederik Svanholm, Group Investment Director, frsv@trifork.com, +41 79 357 73 17

    About Trifork
    Trifork (Nasdaq Copenhagen: TRIFOR) is a pioneering global technology company, empowering enterprise and public sector customers with innovative digital products and solutions. With 1,215 professionals across 71 business units in 16 countries, Trifork specializes in designing, building, and operating advanced software across sectors such as public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. The Group’s R&D arm, Trifork Labs, drives innovation by investing in and developing synergistic, high-potential technology companies. Learn more at trifork.com.

    Attachment

    The MIL Network

  • MIL-OSI: Digital Asset Technologies Portfolio Company, LiquidLink Launches Bitcoin Lightning and XRP ILP Nodes

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, BC, June 30, 2025 (GLOBE NEWSWIRE) — Digital Asset Technologies Inc. (CSE: DATT) (OTCPK: EATBF) (FSE: 988) (“DATT” or the “Company”), a technology focused investment issuer, is pleased to announce that its wholly owned portfolio company, LiquidLink AI Corp. (“LiquidLink”) has launched enterprise-grade infrastructure on the Bitcoin Lightning Network and Ripple’s Interledger Protocol (ILP). These deployments position LiquidLink as a foundational hub in the emerging Internet of Value, much like the backbone ISPs that interconnected global networks in the early 2000s.

    The Lightning Network, Bitcoin’s Layer 2 scaling solution, enables instant, low-cost payments. The Interledger Protocol (ILP) seamlessly routes payments across different ledgers. LiquidLink aims to build one of the most connected hubs, bridging fragmented liquidity pools and enabling reliable settlement between networks. The company focuses on being the infrastructure layer merchants and institutions depend on, rather than simply acquiring Bitcoin or XRP.

    “We see clear parallels between what we’re building and the early internet,” said Marcus Ingram, CEO of LiquidLink. “Wholesale ISPs created backbones that everyone relied on. LiquidLink is developing a payments backbone to deliver liquidity, reliability, and speed across Bitcoin, XRP, and dozens of other networks.”

    With the rise of stablecoins on Bitcoin (via RGB smart contracts and Taproot Assets) and expanding stablecoin support on the XRP Ledger, LiquidLink plans to support this wave of commerce. The recent Clarity for Payment Stablecoins Act (Genius Act) provides clear legal frameworks for regulated stablecoin issuance, further accelerating this momentum.

    LiquidLink’s next milestone with respect to its nodes is creating the first cross-chain liquidity bridge to connect Bitcoin-native assets (including RGB tokens, Taproot Assets, Liquid, and Rootstock) with the XRP Ledger. This bridge will facilitate seamless asset movement between Bitcoin and XRPL.

    LiquidLink’s node business operates independently but complements XRPFY, the company’s flagship platform for efficient payment routing and liquidity discovery. LiquidLink plans to use XRPFY for its own nodes to find cost-effective payment paths and exchange opportunities across networks.

    LiquidLink’s Lightning Network node public address can be tracked on any lightning network explorer; we recommend the following: https://mempool.space/lightning/node/039d3233722961a471d29b6fedf46d9f71585e29e13fe71dccd72c9b3b0668e188

    About Digital Asset Technologies Inc.

    Digital Asset Technologies (CSE: DATT) is a publicly traded investment issuer that identifies and makes equity investments in global companies that are developing and commercializing technology. Through its portfolio company, Liquidlink AI Corp., the Company has entered the blockchain technology sector with a focus on real-world asset tokenization, decentralized infrastructure, and advanced trading analytics.

    Email: info@datech.ca
    ‎Learn more: https://www.datech.ca

    About Liquidlink AI Corp. 

    LiquidLink is a portfolio company of Digital Asset Technologies Inc., focused on building secure, interoperable infrastructure for the tokenized economy. Its flagship product, Xrpfy, provides self-custody discovery tools, trading intelligence, and RWA launchpad capabilities for the XRPL ecosystem and is expanding to support multiple blockchains.

    Media Contact:
    Marcus Ingram
    marcus@liquidlink.ai

    LiquidLink Website: https://liquidlink.ai
    LiquidLink X (Twitter): @LiquidLink_XRP

    The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved the contents of this press release.

    For further information, please contact Marcus Ingram, CEO, marcus@liquidlink.ai.

    Cautionary Note regarding Forward Looking Statements

    This press release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as, “subject to”, or variations of such words and phrases or state that certain actions, events or results “may” or “will” be taken, occur or be achieved. Forward-looking statements in this news release include, but are not limited to, statements regarding the Company’s business strategy, current and future investments, and updated Investment Policy. Forward-looking statements are based on assumptions, but the actual results may be materially different from any future expectations expressed or implied by the forward-looking statements. The forward-looking statements can be affected by known and unknown risks, uncertainties and other factors, including, but not limited to, the equity markets generally and a failure to obtain the necessary approvals from the Canadian Securities Exchange. Accordingly, readers should not place undue reliance on forward-looking statements.

    The MIL Network

  • MIL-OSI: Haffner Energy Reports Annual Results for Fiscal Year 2024-2025

    Source: GlobeNewswire (MIL-OSI)

    Haffner Energy Reports Annual Results for Fiscal Year 2024-2025

    Strategic milestones were reached, opening up the prospect of a commercial and economic ramp-up in the current financial year

    Vitry-le-François, France – June 30, 2025, 08:00am (CEST)

    • 2024-2025, a year of milestones demonstrating Haffner Energy‘s technological maturity: commissioning of the Marolles showcase site and green hydrogen production kick-off; signature of a first contract essential to the development of a hydrogen, electricity, and biochar production unit at the Corbat Group site in Glovelier, Switzerland; new strategic partnerships with recognized international players, particularly in the SAF industry;
    • Launch of a capital increase1 that resulted, after the close of the fiscal year, in a €7M fundraising with widening of the free float to almost 25%;
    • Net cash available of €559k at 03/31/2025 and a significantly reduced cash-burn rate, thanks to the ramp-up of the cash preservation plan initiated in November 2023;
    • EBITDA* improved significantly to -€10,011k, driven by revenue returning to positive at €378k and cost reductions, and a net loss of -€12,311k for the year ended 03/31/2025;
    • A consolidated 2025-2026 commercial outlook (total pipeline of €1.55Bn and €388M weighted pipeline2 at the end of March 2025) and a confirmed EBITDA-breakeven target at 03/31/2026.

    HAFFNER ENERGY (ISIN code: FR0014007ND6 – Ticker: ALHAF), just published its consolidated annual results at 03/31/2025, as approved on 06/27/2025 by the Board of Directors. On this occasion, the Company provided an update on its progress and outlook.

    Philippe HAFFNER, Co-founder and CEO of Haffner Energy said:

    “The 2024-2025 financial year is in continuity with the path we embarked on back in the second half of 2023. After launching new offers to expand our addressable market beyond hydrogen and achieving a significant increase in our project portfolio, we continue to roll out our roadmap. This year, we have carried out structuring projects that bring us closer to our objective of profitable growth: first, we have set up an industrial-scale showcase site in Marolles presenting all our technologies, whether in operation or still in development – seemingly the first site in the world to produce green hydrogen from solid biomass; this decisive element for the conversion of our project pipeline into contracts has already enabled us to sign a first contract for the installation of a hydrogen, electricity, and biochar production unit in Switzerland. To support our development, we have also continued to strengthen our network of partnerships with leading players, such as LanzaJet, LanzaTech, Atoba, and Luxaviation for the SAF market.

    In terms of financial results, although the conversion of our project pipeline into contracts had not yet materialized at 03/31/2025 and we remain in a loss-making position, we have recorded an improvement in our EBITDA thanks to the cost-cutting efforts undertaken to preserve our cash. With the first significant contracts expected to be signed, the 2025-2026 financial year should enable us to achieve our target of breakeven EBITDA by March 31, 2026.

    The capital increase launched at the end of the financial year, to which the family holding company Haffner Participation contributed €950k, resulted in a €7M fundraising in early April 2025. It will enable us to support the Company’s development. The success of this operation is due in particular to the commitment of most of our historical shareholders and to the arrival of new investors. We would like to thank them for their confidence in our project and our prospects, despite the recent turbulence on the Haffner Energy stock market.”

    I. 2024-2025: ADVANCES ILLUSTRATE HAFFNER ENERGY’S TECHNOLOGICAL MATURITY

    During the FY 2024-2025, Haffner Energy took crucial steps to accelerate its commercial and industrial development, with the creation of the Marolles showcase site and the signing of major partnership agreements, particularly in the SAF industry.

    Operational commissioning of the Marolles hydrogen and renewable gas production, testing and training center: a strategic priority for the year

    During the period, the attention of the Haffner Energy team was particularly focused on the installation and commissioning of a showcase site for the Company’s technologies and expertise in the Vitry-Marolles business park (Marne County), near its headquarters. Started in late 2023, the development of this production, testing and training center unfolded in several stages: after archaeological excavations, site preparation and equipment assembly, the center entered the renewable gas (syngas) production phase on June 18, 2024 (cf. 06/20/2024 press release). Equipped with new-generation equipment and intended to operate continuously 8,000 hours per year, this site was inaugurated on November 22, 2024, during Industry Week (cf. 11/22/2024 press release and press kit).

    After obtaining regulatory approvals and installing additional equipment, the team dedicated to this project reached a strategic milestone for Haffner Energy’s industrial and commercial development with, in February 2025, the commissioning of mobility-grade green hydrogen production (cf. 02/26/2025 press releases). Green hydrogen produced as part of the activities on the Marolles site – 120 tonnes/year – is to be commercialized. Haffner Energy already signed an offtake Memorandum of Understanding on December 16, 2024, with a French operator specializing in hydrogen removal and resale in order to decarbonize mobility and industry.

    This site now allows the Company’s customers and prospects to test the range of possibilities offered by Haffner Energy technologies at full-scale and with their own biomass: production of “super green” gas and hydrogen, co-production of electricity, production and/or gasification of biocarbon and/or biochar. This site is also intended to train their teams in operating and maintaining the equipment.

    This project, which has resulted in the world’s first known site producing hydrogen from solid biomass residues, was made possible thanks to the support and commitment of the French public authorities through various local and national entities. It has thus benefited from more than €1.5M in public funding3, demonstrating the trust placed in Haffner Energy to contribute to the green reindustrialization strategy led by the French government.

    While the success of this structuring project attests to Haffner Energy’s technological and industrial maturity, it will also demonstrate the economic and ecological relevance of its technologies. Indeed, compared to alternative technologies, water electrolysis in particular, the “super green” hydrogen produced by Haffner Energy through its thermolysis technology is especially competitive due to the low cost of the primary energy used (biomass), combined with excellent energy efficiency (+ 75% for installations > 20MW). In addition, this hydrogen is carbon negative when co-produced biochar is used to sequester biogenic carbon.

    This showcase site is therefore a decisive tool to realize the Company’s commercial potential. In the short term, it will allow several contracts awaiting signature to move forward, as evidenced by the recent signing of a first contract for the construction of a hydrogen, electricity, and biochar production unit from forestry residues on the Corbat Group site in Glovelier, Switzerland, for H2bois SA. This unit, which is expected to be commissioned in July 2026, represents a total order value for Haffner Energy that is likely to reach €8.3M including options (cf. 03/12/2025 press release).

    2024-2025: new strategic partnerships with leading players

    The growing maturity of Haffner Energy’s technologies in their various applications has enabled the Company to amplify the process of building strategic partnerships already underway and to gain the trust of leading players. During this past year, new agreements have mainly occurred in the SAF industry, the Company’s priority segment given its market potential.

    Haffner Energy established a first partnership with the American company LanzaJet in June 2024 in the context of its SAF production plant project, Paris-Vatry SAF (cf. 06/06/2024 press release). A global leader in ATJ (Alcohol-to-Jet) technology, LanzaJet is a remarkably advanced player in the industry with more than 90 SAF projects in its portfolio. It was named in 2024 by Time Magazine as one of the “100 Most Influential Companies”. Its investors include the Aéroport de Paris (ADP) group, British Airways, Airbus, Southwest Airlines and Microsoft, among others.

    A key agreement was also signed in September 2024 with IðunnH2, the green hydrogen and sustainable e-fuel project developer in charge of Iceland’s largest e-SAF production plant project (65,000-tonne capacity). Located near Keflavík International Airport, the site is to be commissioned in 2028, using biogenic carbon from on-site biocarbon gasification with Haffner Energy’s patented technology. This solution was chosen by IðunnH2 for its ability to significantly reduce costs and increase productivity in the e-SAF production process. Indeed, in Iceland, the limited volumes of local biomass mean low access to biogenic carbon, an essential component of SAF. Haffner Energy’s supplies of solid biocarbon, gasified on-site by its Gasiliner®, will provide a competitive and flexible alternative to the usual option of biogenic CO2, a gas that is expensive to capture, transport and store. (cf. 09/02/2024 press release).

    Keen to amplify the scope of their first partnership, Haffner Energy and LanzaJet announced another partnership agreement in January 2025 (cf. 01/28/2025 press release), accompanied by LanzaTech, the developer of a differentiating solution for transforming syngas into ethanol and a LanzaJet shareholder. The Nasdaq-listed company is a recognized leader in commercial carbon management solutions.

    The objective of the tripartite agreement is to explore joint projects for the conversion of biomass residues into sustainable aviation fuel across the entire SAF production value chain by combining the technologies of the three companies. It also involves exploring a variety of opportunities, including the development of industrial facilities, fuel purchase agreements, and joint technology licenses, as well as financial support and/or investment in specific SAF projects.

    Haffner Energy also entered into a partnership agreement with ATOBA Energy in February 2025 (cf. 02/20/2025 press release), a SAF aggregator whose purpose is to solve the financial dilemma between airlines and producers by allowing different players to benefit from long-term SAF contracts at optimized prices, in particular through off-takes from diversified producers and technologies. This partnership should facilitate the financing of Haffner Energy’s SAF projects by removing the barriers of this value chain, as production plant projects struggle with signing the necessary contracts to guarantee investment returns. The identification of Haffner Energy by ATOBA Energy as a strategic player in the SAF ecosystem is another testament to the competitiveness of its technological solutions.

    Lastly, after the end of the fiscal year, Haffner Energy announced a partnership agreement with global business aviation leader Luxaviation to accelerate the production and promotion of SAF. Luxaviation is to take an active role in SAF Zero (cf. 06/18/2024 press release), an initiative launched by Haffner Energy in September 2024 (cf. 09/12/2024 press release).

    In addition, Haffner Energy has pursued its partnership approach aimed at diversifying its sustainable biomass supply sources. In France, a new agreement was signed in August 2024 with Bambbco, leader in the development of the bamboo industry in France (cf. 09/24/2024 press release). The partnership aims to improve the energy use of biomass, particularly on marginal lands and semi-desert areas, by creating local ecosystems for SAF projects. In a similar fashion, Haffner Energy had signed a partnership early 2024 with the US company Hexas, specialized in the production of raw plant-based materials from its regenerative crop: XanoGrass™ (cf. 03/13/2024 press release).

    II. SUCCESSFULLY RAISING THE FUNDS NEEDED TO FINANCE THE COMPANY’S GROWTH

    Shortly before FY 2024-2025 ended, Haffner Energy launched a capital increase through the issue of shares with share subscription warrants (ABSA), while maintaining shareholders’ preferential subscription rights (DPS).

    This operation’s final completion, materialized by the settlement-delivery of the shares on April 4, 2025, i.e. just after the close of the fiscal year, enabled the company to raise €7M and expand its free float, which now stands at almost 25% of the capital.

    As announced in June 2024, and within the framework of the authorizations granted by the Annual General Meeting of September 12, 2024, Haffner Energy raised funds to accelerate the Company’s development. Following a decision by the Board of Directors at its meeting of March 12, 2025, this took the form of a €7M capital increase through the issue of ABSAs with shareholders’ preferential subscription rights (DPS).

    A two-stage transaction: €7M through the issue of ABSAs, potentially doubled if the warrants are exercised within 18 months.

    As a reminder, the operation had the following characteristics:

    – Transaction eligible for the IR-PME, PEA and PEA-PME, FIP-FCPI and Article 150-0 B ter schemes
    – Allocation of preferential subscription rights (DPS): on the basis of 1 preferential subscription right for 1 share held on 03/14/2025
    – Negotiability of DPS from 03/17/2025 to 03/26/2025 inclusive
    – Subscription ratio: 9 ABSA for 23 Existing Shares
    – Subscription price per ABSA: €0.40, i.e. a 59% discount to the closing price on 03/12/2025, the day before the transaction was announced (€0.98).
    – ABSA subscription period from 03/19/2025 to 03/28/2025 inclusive
    – Final completion of the issue recorded on 04/04/2025, for an amount of €6,995,497.60, of which €1,748,874.40 par value and €5,246,623.20 issue premium, bringing the Company’s share capital to €6,218,220.10.
    – Settlement-delivery of the ABSA: 04/04/2025
    – Trading of New Shares (ISIN: FR0014007ND6 – Ticker: ALHAF) and BSAs (ISIN FR001400Y4X9) on Euronext Growth in Paris since 04/04/2025Trading of New Shares (ISIN: FR0014007ND6 – Ticker: ALHAF) and BSAs (ISIN FR001400Y4X9) on Euronext Growth in Paris since 04/04/2025
    – Terms and conditions of exercise of the warrants attached to the ABSAs (on the basis of 1 warrant per New Share): as from 04/04/2026 for a period of 6 months, 3 warrants entitling the holder to subscribe to one New Share at a price of €1.20. Exercise of all the warrants would ultimately represent a potential capital increase of €6,995,498 gross.

    This operation benefited from the renewed support of historical shareholders (Haffner Participation, VICAT, EUREFI) and new investors, who had committed to participate in the transaction up to €5.5M.

    It was carried out with the assistance of Gilbert Dupont, as global coordinator and bookrunner, and CIC Market Solutions as custodian.

    Post-transaction, a modified capital structure and a near-doubling of the free float

    The gross capital increase recorded by the Board of Directors at its meeting on April 1, 2025 amounted to €6,995,497.60, including €1,748,874.40 nominal value and €5,246,623.60 share premium, and resulted in the issuance of 17,488,744 ABSAs at a subscription price of €0.40 per share, including €0.10 nominal value and €0.30 issue premium (cf. press releases of 2/04/2025 and 4/04/2025).

    Following the issuance of ABSA, Haffner Energy’s share capital was increased to €6,218,220.10 divided into 62,182,201 ordinary shares with a nominal value of €0.10.

    The operation led to a change in the breakdown of capital and voting rights. In particular, the capital increase led to a significant increase in the free float (from 12.83% to 24.75%), which should ultimately prove positive for the share’s attractiveness.

    Table: Impact of the ABSA issue on the breakdown of share capital and Differential Voting Rights

      Before Capital Increase After Capital Increase
      Number of shares % of Capital Number of DVR % of exercisable DVRs Number of shares % of Capital Number of DVR % of exercisable DVRs
    Haffner Participation 17 824 000 39,88% 35 648 000 45,15% 20 199 000 32,48% 38 023 000 39,42%
    Eurefi 5 741 600 12,85% 11 483 200 14,54% 8 311 600 13,37% 14 053 200 14,57%
    Sous total Concert 23 565 600 52,73% 47 131 200 59,69% 28 510 600 45,85% 52 076 200 53,99%
    Vicat 1 175 000 2,63% 1 175 000 1,49% 3 675 000 5,91% 3 675 000 3,81%
    Eren Industries 1 000 000 2,24% 2 000 000 2,53% 1 391 302 2,24% 2 391 302 2,48%
    Kouros 11 826 112 26,46% 21 920 542 27,76% 11 826 112 19,02% 21 920 542 22,73%
    HRS 1 000 000 2,24% 1 000 000 1,27% 1 000 000 1,61% 1 000 000 1,04%
    Flottant 5 736 238 12,83% 5 736 238 7,26% 15 388 680 24,75% 15 388 680 15,95%
    Self-holding 390 507 0,87% 0,00% 390 507 0,63% 0,00%
    TOTAL 44 693 457 100% 78 962 980 100% 62 182 201 100% 96 451 724 100%

    For the record, a shareholder who did not take part in the operation and previously held 1% of the capital saw a dilutive effect of 0.72% applied to his position.

    After the operation, stock price in turmoil 

    Mechanically, and all other things being equal, Haffner Energy’s share price should have fallen by around 28%, in line with the dilutive effect. However, following the capital increase, the share experienced unexpectedly high trading volumes, due first and foremost to massive and disorderly selling, leading to a drop in the share price to a low of €0.25 on 04/18/2025. Since then, the stock price has begun to rise again (to €0.35 on 06/23/2025). Trade is still occurring in very high volumes, without Haffner Energy having any specific information on their origin.

    III. CONSOLIDATED FINANCIAL RESULTS OF LOW SIGNIFICANCE, MARKED BY EFFORTS TO IMPROVE EBITDA AND PRESERVE CASH

    The consolidated financial statements presented below, for which audit procedures are in progress, were approved by the Board of Directors at its 06/27/2025 meeting. The scope of consolidation and accounting methods used at March 31, 2025, are unchanged from the previous year: Haffner Energy’s consolidated financial statements have been prepared in accordance with IFRS; the only consolidated subsidiary is Jacquier.

    In terms of consolidated financial results, FY 2024-2025 displays a similar profile to the previous one, albeit with a few changes.

    In thousands of euros 03.31.25
    (12 months)
    03.31.24
    (12 months)
    Net sales
    Other income
    378
    79
    -157
    69
    EBITDA -10,011 -12,791
    Operating result -12,275 -10,263
    Net income -12,311 -9,935
    Shareholders’ equity 14,300 26,768
    Cash available 5594 11,042

    At 03/31/025, consolidated revenue remained amounted to €378k. It mainly comprised sales of boiler-making equipment by Jacquier and various services and studies by Haffner Energy.

    As a reminder, consolidated revenue was negative for FY 2023-2024 (-157 k€) due to the impact of the termination of the R-Hynoca contract in December 20235 (cf. 14/12/2023 press release).

    Confirmed EBIDTA improvement thanks to cost-cutting measures

    Extending the trend of the first half of the year, EBITDA6continued to improve to -€10,011k, under the combined effect of the decrease in purchases consumed (-15%), personnel costs (-17%) and external expenses (-23%), resulting from the full impact of the cash preservation plan initiated in November 2023.

    Operating result nevertheless deteriorated (-€12,275k at 03/31/2025, down €2,012k compared to 03/31/2024). This change is mainly due to the reversal of provisions for losses on completion from the previous year in the amount of €5,787k.

    As of 03/31/2025, consolidated net income stood at -€12,311k, registering a larger loss than last year (-€9,935k at 03/31/2024).

    After appropriation of net income, shareholders’ equity amounted to €14,300k, excluding the impact of the capital increase which will be taken into account in FY 2025-2026 due to its completion after the closing date.

    Haffner Energy’s other assets and liabilities are as follows:

    On the assets side, non-current assets (€11,250k, or +€309k) were almost stable, mainly composed of intangible assets representing the Company’s intellectual property (€8,105k as of 03/31/2025 compared to €7,843k as of 03/31/2024). Current assets, on the other hand, contracted significantly to €22,456k (-€12,321k), mainly due to:

    • the consumption of a significant portion of cash (€559k as of 03/31/2025 compared to €11,042k as of 03/31/2024).
    • the decrease in other current assets (advances paid to suppliers for €2,464k and Research Tax Credit for €941k).

    Conversely, inventories and outstandings increased, reaching €13,432k at the end of the financial year (+€3,287k) mainly due to the installation of the Marolles site.

    On the liabilities side, shareholders’ equity amounted to €14,300k at 03/31/2025 (a decrease of €12,468k) mainly due to the allocation of the year’s profit to reserves. It should be noted that the capital increase is not taken into account as of 03/31/2025.
    Non-current liabilities decreased slightly (-€268k at 03/31/2025 to €5,833k). This change takes into account the €500k RDI loan received from Bpifrance in March 2025.
    Current liabilities, meanwhile, increased +€725k to €13,574k at 31/03/2025. This change is mainly due to the net increase in provisions ongoing litigations (+€882k to €1,116k at 31/03/2025).

    It should be noted that, as the proceedings with Sara and Carbonloop are still in progress, the balance sheet position of previous years has been maintained. In addition, a provision has been booked in respect of employee-related litigation.

    Net cash position necessitates fundraising despite reduced cash-burn rate

    As of 03/31/2025, net cash and cash equivalents amounted to €559k.

    As a reminder, the main measures of the cash preservation plan initiated since November 2023 and implemented during the year have focused on:

    • Overheads in addition to reinforced budget management and expense control measures, the company reduced fees, cancelled non-essential service or subcontracting contracts whose tasks could be handled internally, changed payroll managers, renegotiated the commercial terms of other contracts, and limited travel and related expenses to essentials.
      • Payroll: in addition to the freeze on recruitment and replacements, as well as the absence of a general salary increase over FY 2023-24 and FY 2024-2025, Haffner Energy implemented a targeted redundancy plan in the summer of 2024, resulting in the loss of nine (9) positions. Subsequent to the balance sheet date, a redundancy plan for economic reasons was launched at SAS Jacquier. This redundancy plan resulted in the departure of three (3) employees from the workforce on 06/16/2025.
      • Leased surface areas: these have been reduced in both Nantes and Paris, thanks to the relocation of the Paris offices in January 2025 and the termination of the lease on the 1st floor of the Nantes offices.
      • Postponement of non-priority investments, such as the deployment of a new ERP system (€1.3M).
      • Renegotiations with strategic partners and service providers to review certain delivery schedules and invoice payment deadlines (€3M)
      • Deferrals of payments illustrating the commitment of all internal stakeholders to the company, such as the deferral of the payment of the individual portion of employees’ target-based bonuses and the payment of directors’ fees; lastly, we note the waiver by the two executives and founding investors, Philippe and Marc Haffner, of the variable portion of their remuneration for FY 2023-2024, as well as the temporary two-stage reduction of part of their fixed remuneration for FY 2023-2024 and FY 2024-2025. These amounts have been provisioned in the financial statements.

    Thanks to the implementation of these cost-saving measures, the average monthly cash-burn rate was significantly reduced during the year, gradually falling from €1.4M at the end of 2023 to €1M at the end of 2024, to about €0.6M per month in Q1 2025 (calendar year), excluding income and non-recurring expenses.

    In order to ensure that the Company would have the necessary resources to pursue its development until the expected ramp-up in revenue, and as announced as early as June 2024, Haffner Energy therefore initiated the above-mentioned capital increase during the year (see page 4).          

    Having carried out a review of its liquidity risk, the Company considers that it will have sufficient cash to finance its activities until at least 03/31/2026.

    This cash outlook takes into account:

    – The €7M capital increase finally subscribed on April 4, 2025, after the closing of FY 2024-2025;

    – The receipt, in March 2025, of a €500k innovation grant from Bpifrance (RDI loan) for the hydrogen production, testing and training center project in Marolles (Marl’Hy);

    – Cost reductions undertaken by the Company (see page 8) that cap the average monthly cash burn-rate, excluding non-recurring income and expenses, at around €600k (compared with €1M at the end of 2024).

    In the 1st half of the year, this is subject to the successful completion of the endurance test at the Marolles site and the signature of the resulting contracts, as well as to the obtaining, during the year, of additional financing linked to the equipment at the Marolles site.

    IV. PROJECTS AND PROSPECTS: FOUR NEW OPERATIONAL PRIORITIES

    For the current financial year, the Haffner Energy team, boosted by the confidence and support from its business partners, shareholders and institutional ecosystem, has set four new operational priorities: accelerating the conversion of its pipeline, moving forward with the implementation of targeted strategic projects, continuing to structure its action, and simplifying its governance.

    Accelerating pipeline conversion

    At the end of FY 2024-2025, Haffner Energy had an estimated total sales pipeline of €1.55Bn compared to €1.4Bn at 03/31/2024, confirming a high level of commercial activity due to the various initiatives undertaken since mid-2023: launch of a high-capacity offer for the renewable gas market (syngas) and a SAF offer; business development in the United States through the creation of a subsidiary; increased presence in various US trade fairs dedicated to renewable energies and hydrogen7.

    On the occasion of its capital increase, and in order to offer a clearer and more representative view of its business and prospects, the Company decided to adopt a communication based on a weighted sales pipeline** instead of medium-term annual revenue targets, as was previously practiced, as projects typically convert into backlog over a two-year cycle. This weighted pipeline is determined by applying a probability of success to the potential revenue of each project that counts in the sales pipeline

    At the end of March 2025, Haffner Energy’s weighted sales pipeline stood at €388M.

    Two contracts for hydrogen production equipment had been identified as likely to be signed following the start of hydrogen production at the Marolles site in February 2025 (cf. 02/26/2025 press release).

    The first of these is the H2bois project, for which Haffner Energy signed an initial contract on 03/12/2025, which is essential for the creation of this unit to produce hydrogen, electricity, and biochar from biomass at the Swiss Corbat group’s site (cf. 03/12/2025 press release). With delivery of the site scheduled for July 2026, orders for Haffner Energy are expected to be staggered between now and the end of FY 2025-2026.

    The second regards REFORMERS’ Renewable Energy Valley project in Alkmaar in the Netherlands. The latter was awarded the 2025 World Hydrogen Award, “Clean Project” category, May 22, 2025, in Rotterdam, thanks to the choice of HYNOCA® as the green hydrogen production technology included in the project.

    Advancing the implementation of a number of targeted strategic projects: R&D, Marolles, and commercial partnerships

    While growing the market for existing solutions is the priority for the current financial year, Haffner Energy has continued and will continue to invest time in Research & Development in order to offer its customers new or optimized solutions. The performance of its biomass thermolysis technology is indeed the source of the recognition enjoyed by the Group. In particular, before the end of FY 2024-2025, the Company was awarded the “Innovative Company” label by Bpifrance. This recognition enabled the company to welcome an FCPI fund to its capital.

    In April 2025, the Group presented a new line of production units, Hynoca® Flex 500 IG, capable of producing 12 tonnes per day of marketable green hydrogen for less than €3/kg without subsidies, and of generating profitable renewable electricity at peak times (cf. 24/04/2025 press release). Competitive with grey hydrogen and fossil fuels thanks to its energy efficiency of over 80%, this new solution offers all the flexibility of hydrogen and electricity cogeneration, enabling producers’ sites to manage random hydrogen demand and benefit from continuous operation without having to lock themselves into rigid off-take contracts.

    The current year’s priorities also include optimizing equipment at the strategic Marolles site, and in particular finalizing the installation of the Gasiliner® (cf. 11/22/2024 press release).

    The Haffner Energy team has also been working to advance the strategic Paris-Vatry SAF project. During FY 2024-2025, the Company finalized the creation of SPV (Special Project Vehicle) PARIS VATRY SAF SAS. In addition, Luxembourg-based Luxaviation, a global business aviation leader, confirmed its interest in playing an active role in spin-off SAF Zero at the International Paris Air Show this month. Luxaviation’s participation could take the form of financing the initial development of SAF activities, supporting strategy and global visibility, as well as off-take agreements in SAF Zero projects such as Paris-Vatry SAF (cf. 06/18/2025 press release).

    Finally, the FactorHy project of a first plant to assemble renewable gas and hydrogen production modules is still underway. Preliminary studies have been completed and detailed studies for the building permit application are continuing.

    Continuing to structure its action

    Having completed the creation of Haffner Energy Inc., an unconsolidated US subsidiary, in May 2024, Haffner Energy will continue to work on structuring its action and future developments with a view, in particular, to making effective progress in the SAF market. For current FY, the Company intends to launch SAF Zero, a spin-off designed to maximize its potential in this booming market (cf. 12/09/2024 press release and 18/06/2025 press releases).

    Simplifying its governance

    In addition, Haffner Energy has decided to simplify its corporate governance to enhance efficiency.

    At its meeting on 05/09/2025, the Board of Directors decided to propose the following to the 06/23/2025 Combined General Meeting of Shareholders:

    • a reduction in the number of Board members, with the early termination of the terms of office of Kouros France and Kouros SA, who also undertook to reduce their shareholding following the capital increase in which they did not wish to participate;
    • a partial renewal of the Board’s membership, to allow the entry of a new director representing the Luxembourg company Eren Industries, one of Haffner Energy’s industrial shareholders. A partner of Haffner Energy’s since the Company’s IPO, this recognized player in the energy transition is dedicated to technological innovation in the service of the natural resource economy. Eren Industries develops and invests in infrastructure projects, particularly in low-carbon energy production (hydrogen, biogas, biomethane, etc.), some of which could be projects of interest to Haffner Energy, and will provide the Board with all its sector expertise.
    • An update of the statutes simplifying the majority rules applicable to certain Board decisions, in line with common practice.

    All the resolutions were adopted at the June 23, 2025 General Shareholders’ Meeting.

    It should be noted that the Board of Directors has decided to reduce the attendance fees of independent directors as from the next financial year. Non-independent directors will not be remunerated.

    In addition, Mrs Bich Van Ngo and Mrs Sophie Dutordoir, independent directors, resigned from the Board at the close of the Annual General Meeting on 06/23/2025.

    Mr. Olivier Piron (Société E-Venture Management and Investment srl) was co-opted to the Board of Directors as an independent director at the close of the Board meeting of 06/27/2025.

    As a result, Haffner Energy’s Board of Directors is now composed of six (6) members, up from eight (8) previously:

    • Mr. Philippe Haffner, Chairman and CEO of Haffner Energy
    • Mr. Marc Haffner, Deputy Chief Executive Officer of Haffner Energy
    • Mrs. Francesca Ecsery, independent
    • Société E-Venture Management and Investment srl, with Mr. Olivier Piron as permanent representative
    • Europe and Growth, with Mr. Xavier Dethier as permanent representative
    • Eren Industries SA, with Mr. David Corchia as permanent representative

    Next events

    Shareholder webinar : July 1, 2025 – register here

    Annual General Meeting : September 10, 2025

    More detailed financial information on the annual accounts at 03/31/2025 is available on the website www.haffner-energy.com.

    About Haffner Energy

    Haffner Energy designs, manufactures, supplies, and operates biofuel and hydrogen solutions using biomass residues. Its innovative, patented thermolysis technology produces Sustainable Aviation Fuel, as well as renewable gas, hydrogen, and methanol. The company also contributes to regenerating the planet through the co-production of biogenic CO2 and biochar. A company co-founded 32 years ago by Marc and Philippe Haffner, Haffner Energy has been working from the outset to decarbonize industry and all forms of mobility, as well as governments and local communities. Haffner Energy is listed on Euronext Growth (ISIN code : FR0014007ND6 – Mnémonique : ALHAF).

    Investor relations

    investisseurs@haffner-energy.com

    Media relations        

    Laure BOURDON
    laure.bourdon@haffner-energy.com
    +33 (0) 7 87 96 35 15

    Glossary:

    The Company is now adopting a communication based on a weighted sales pipeline instead of medium-term annual revenue targets, as was previously practiced, as projects typically convert into backlog over a two-year cycle.

    * Pipeline designates a business opportunity when at least one of the following situations occurs:
    – a preliminary feasibility study for the installation of equipment is, or has been, carried out; or
    – a budget offer, or a preliminary business plan for the project, or a complete commercial offer including specifications, has been sent to the customer and Haffner Energy is awaiting its response; or
    – a letter of intent has been sent to Haffner Energy by the customer; or
    – Haffner Energy has received an invitation to participate and is part of a tender process.

    ** The weighted pipeline is determined by applying a probability of success to the potential sales of each project included in the total pipeline. Thus, given a total pipeline of projects worth €1.55Bn at March 31, 2025, the weighted pipeline at March 31, 2025 stood at €388M, with “hydrogen projects” now accounting for only 18% of the weighted pipeline.


    1 Subscription period for the Capital Increase closed on 03/29/2025, Settlement-Delivery on 04/04/2025.
    2 In order to offer a clearer and more representative view of its business and prospects, the Company is now adopting a communication based on a weighted sales pipeline instead of medium-term annual revenue targets, as was previously practiced, as projects typically convert into backlog over a two-year cycle. This weighted pipeline is determined by applying a probability of success to the potential revenue of each project that counts in the sales pipeline.

    3 Including an Innovation-Research and Development Loan (PIRD) in the amount of €500k granted by Bpifrance and received in early March 2025.
    4 Cash and cash equivalents at 03/31/2025 do not include the €7M fundraising, which was completed after closing on 04/04/2025
    5 The termination of the R-Hynoca contract was accompanied by a memorandum of understanding under which Haffner Energy will have to make two residual payments (€1M before 12/31/2025 and €0.85M before 12/31/2026).
    6 EBITDA corresponds to operating income before depreciation and amortization, impairment net of reversals of fixed assets and current assets, and before operating provisions net of reversals.
    7 Since January 2025, Haffner Energy has participated in Hyvolution Paris 2025, Bio360 Expo 2025 in Nantes, World Electrolysis Congress 2025 in Cologne, World Hydrogen Summit 2025 in Rotterdam, for example.

    Attachment

    The MIL Network

  • MIL-OSI: NBPE Announces Transaction in Own Shares

    Source: GlobeNewswire (MIL-OSI)

    THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS

    St Peter Port, Guernsey    30 June 2025

    NB Private Equity Partners (“NBPE” or the “Company”) today announces details of Class A Shares bought back pursuant to general authority granted by shareholders of the Company on 12 June 2025 and the share buy-back agreement with Jefferies International Limited.

    Transaction on London Stock Exchange

    Date of purchase of Shares 27 June 2025
    Number of Shares purchased 1,500 Class A Shares
    Highest price/lowest price paid £14.28 / £14.28
    ISIN for the Shares GG00B1ZBD492

    All Class A Shares bought back will be cancelled. Following the cancellation, the number of outstanding Class A Shares is 45,498,210‬. The Company also has 3,150,408 Class A shares held in treasury. For reporting purposes under the FCA’s Disclosure Guidance and Transparency Rules the market should use the figure of 45,498,210 voting rights when determining if they are required to notify their interest in, or a change to their interest in the Company.

    For further information, please contact:

    NBPE Investor Relations        +44 20 3214 9002
    Luke Mason        NBPrivateMarketsIR@nb.com

    Kaso Legg Communications        +44 (0)20 3882 6644

    Charles Gorman        nbpe@kl-communications.com
    Luke Dampier
    Charlotte Francis

    About NB Private Equity Partners Limited
    NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

    LEI number: 213800UJH93NH8IOFQ77

    About Neuberger Berman

    Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $515 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last eleven years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of March 31, 2025.

    This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.

    NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE’s investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains “forward-looking statements.” Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.

    The MIL Network

  • MIL-OSI: Dividend payment ex-date of Aktsiaselts Infortar

    Source: GlobeNewswire (MIL-OSI)

    Aktsiaselts Infortar will pay the first instalment of dividends for the 2024 financial year in the net amount 1.5 euros per share. List of shareholders entitled to dividends will be recorded on 4 July 2025 at the end of the business day of the settlement system of the securities registrar (record-date).  The day of change of the rights related to the shares (ex-date) is 3 July 2025. From this date onwards, persons acquiring shares will not be entitled to receive dividends for the financial year 2024 on 15 July 2025.

    Dividend shall be paid to the Shareholders on 15 July 2025 by transfer to the bank account.

    Infortar operates in seven countries, the company’s main fields of activity are maritime transport, energy and real estate. Infortar owns a 68.47% stake in Tallink Grupp, a 100% stake in Elenger Grupp and a versatile and modern real estate portfolio of approx. 141,000 m2. In addition to the three main areas of activity, Infortar also operates in construction and mineral resources, agriculture, printing, and other areas. A total of 110 companies belong to the Infortar group: 101 subsidiaries, 4 affiliated companies and 5 subsidiaries of affiliated companies. Excluding affiliates, Infortar employs 6,296 people.

    Additional information:
    Kadri Laanvee
    Investor Relations Manager
    Phone: +372 5156662
    e-mail: 
    kadri.laanvee@infortar.ee
    www.infortar.ee/en/investor

     

    The MIL Network