Category: Finance

  • MIL-OSI United Kingdom: New expertise joins NI Public Sector Transformation Board

    Source: United Kingdom – Executive Government & Departments

    News story

    New expertise joins NI Public Sector Transformation Board

    Secretary of State for Northern Ireland, Hilary Benn MP welcomes the news of the appointment of two new members to the Public Sector Transformation Board.

    • The expansion of the Board follows a productive agreement with the Finance Minister John O’Dowd MLA to update the Terms of Reference for the Transformation Board.
    • The two new expert board members are; Gareth Hetherington, Director of Ulster University Economic Policy; and, Professor Helen McCarthy, the NI Executive’s Chief Scientific Officer.
    • The Second Call has now launched to allocate the remaining £102 million of UK Government funding which will help improve public services, and address many of the challenges faced by people across Northern Ireland.

    Hilary Benn MP said:

    The significant progress made since the establishment of the Board has been really important. I was delighted to welcome the first tranche of funding in March this year when £129m was confirmed to help fund six transformation projects across the Departments of Health, Justice, Education and Infrastructure.

    The appointment of Gareth Hetherington and Professor Helen McCarthy will bolster the expertise of the Board as it assesses projects eligible for the remaining £102m allocation for transformation of public services in Northern Ireland. This funding will help build more resilient and responsive public services that better meet the needs of people across Northern Ireland.

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: New expertise joins NI Public Sector Transformation Board

    Source: United Kingdom – Executive Government & Departments

    News story

    New expertise joins NI Public Sector Transformation Board

    Secretary of State for Northern Ireland, Hilary Benn MP welcomes the news of the appointment of two new members to the Public Sector Transformation Board.

    • The expansion of the Board follows a productive agreement with the Finance Minister John O’Dowd MLA to update the Terms of Reference for the Transformation Board.
    • The two new expert board members are; Gareth Hetherington, Director of Ulster University Economic Policy; and, Professor Helen McCarthy, the NI Executive’s Chief Scientific Officer.
    • The Second Call has now launched to allocate the remaining £102 million of UK Government funding which will help improve public services, and address many of the challenges faced by people across Northern Ireland.

    Hilary Benn MP said:

    The significant progress made since the establishment of the Board has been really important. I was delighted to welcome the first tranche of funding in March this year when £129m was confirmed to help fund six transformation projects across the Departments of Health, Justice, Education and Infrastructure.

    The appointment of Gareth Hetherington and Professor Helen McCarthy will bolster the expertise of the Board as it assesses projects eligible for the remaining £102m allocation for transformation of public services in Northern Ireland. This funding will help build more resilient and responsive public services that better meet the needs of people across Northern Ireland.

    MIL OSI United Kingdom

  • MIL-OSI Economics: Sources of Variation in India’s Foreign Exchange Reserves during April-March 2024-25

    Source: Reserve Bank of India

    Today, the Reserve Bank of India released the balance of payments (BoP) data for the fourth quarter (Q4), i.e., January-March of 2024-25 on its website (www.rbi.org.in). On the basis of these data, the sources of variation in foreign exchange reserves during April-March 2024-25 are detailed below in Table 1.

    Table 1: Sources of Variation in Foreign Exchange Reserves*
    (US$ billion)
    Items 2023-24 2024-25
    I.   Current Account Balance -26.1 -23.4
    II.   Capital Account (net) (a to f) 89.8 18.3
      a. Foreign Investment (i+ii) 54.2 4.5
        (i) Foreign Direct Investment (FDI) 10.2 1.0
        (ii) Portfolio Investment 44.1 3.6
            of which:    
              Foreign Institutional Investment (FII) 44.6 3.3
              ADR/GDR 0.0 0.0
      b. Banking Capital 40.5 -9.8
            of which: NRI Deposits 14.7 16.2
      c. Short-term Credit -0.8 7.2
      d. External Assistance 7.5 6.3
      e. External Commercial Borrowings -0.1 15.8
      f. Other Items in Capital Account -11.5 -5.6
    III.   Valuation Change 4.3 26.9
    IV.   Total (I+II+III) @
    Increase in reserves(+) / Decrease in reserves (-)
    68.0 21.9
    *: Based on the old format of BoP which may differ from the new format (BPM6) in the treatment of transfers under the current account and ADRs/ GDRs under portfolio investment.
    @: Difference, if any, is due to rounding off.
    Note: ‘Other Items in Capital Account’ apart from ‘Errors and Omissions’ includes SDR allocation, leads and lags in exports, funds held abroad, advances received pending issue of shares under FDI, capital receipts not included elsewhere, and rupee denominated debt.

    On a balance of payments basis (i.e., excluding valuation effects), foreign exchange reserves decreased by US$ 5.0 billion during 2024-25 as against an accretion of US$ 63.7 billion during 2023-24. Foreign exchange reserves in nominal terms (i.e., including valuation effects) increased by US$ 21.9 billion during 2024-25 as compared with an increase of US$ 68.0 billion in 2023-24 (Table 2).

    Table 2: Comparative Position of Variation in Reserves
    (US$ billion)
    Items 2023-24 2024-25
    1. Change in Foreign Exchange Reserves (i.e., Including Valuation Effects) 68.0 21.9
    2. Valuation Effects [Gain (+)/Loss (-)] 4.3 26.9
    3. Change in Foreign Exchange Reserves on BoP basis (i.e., Excluding Valuation Effects) 63.7 -5.0
    Note: Increase in reserves (+)/Decrease in reserves (-).
    Difference, if any, is due to rounding off.

    The valuation gain, primarily reflecting higher prices of gold and lower bond yields, amounted to US$ 26.9 billion during 2024-25 as compared with a valuation gain of US$ 4.3 billion during 2023-24.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/612

    MIL OSI Economics

  • MIL-OSI Economics: Developments in India’s Balance of Payments during the Fourth Quarter (January-March) of 2024-25

    Source: Reserve Bank of India

    Preliminary data on India’s balance of payments (BoP) for the fourth quarter (Q4), i.e., January-March 2024-25, are presented in Statements I and II.

    Key Features of India’s BoP in Q4:2024-25

    • India’s current account balance recorded a surplus of US$ 13.5 billion (1.3 per cent of GDP) in Q4:2024-25 as compared with US$ 4.6 billion (0.5 per cent of GDP) in Q4:2023-24 and against a deficit of US$ 11.3 billion (1.1 per cent of GDP) in Q3:2024-25.1
    • Merchandise trade deficit at US$ 59.5 billion in Q4:2024-25 was higher than US$ 52.0 billion in Q4:2023-24. However, it moderated from US$ 79.3 billion in Q3:2024-25.
    • Net services receipts increased to US$ 53.3 billion in Q4:2024-25 from US$ 42.7 billion a year ago. Services exports have risen on a y-o-y basis in major categories such as business services and computer services.
    • Net outgo on the primary income account, primarily reflecting payments of investment income, moderated to US$ 11.9 billion in Q4:2024-25 from US$ 14.8 billion in Q4:2023-24.
    • Personal transfer receipts, mainly representing remittances by Indians employed overseas, rose to US$ 33.9 billion in Q4:2024-25 from US$ 31.3 billion in Q4:2023-24.
    • In the financial account, foreign direct investment (FDI) recorded a net inflow of US$ 0.4 billion in Q4:2024-25 as compared to an inflow of US$ 2.3 billion in the corresponding period of 2023-24.
    • Foreign portfolio investment (FPI) recorded a net outflow of US$ 5.9 billion in Q4:2024-25 as against a net inflow of US$ 11.4 billion in Q4:2023-24.
    • Net inflows under external commercial borrowings (ECBs) to India amounted to US$ 7.4 billion in Q4:2024-25, as compared to US$ 2.6 billion in the corresponding period a year ago.
    • Non-resident deposits (NRI deposits) recorded a net inflow of US$ 2.8 billion in Q4:2024-25, lower than US$ 5.4 billion a year ago.

    BoP During 2024-25

    • India’s current account deficit at US$ 23.3 billion (0.6 per cent of GDP) during 2024-25 was lower than US$ 26.0 billion (0.7 per cent of GDP) during 2023-24, primarily due to higher net invisibles receipts.

    • During 2024-25, FPI recorded a net inflow of US$ 3.6 billion, lower than US$ 44.1 billion a year ago.

    Table 1: Major Items of India’s Balance of Payments
    (US$ billion)
      January-March 2024 PR January-March 2025 P 2023-24 PR 2024-25 P
      Credit Debit Net Credit Debit Net Credit Debit Net Credit Debit Net
    A. Current Account 253.5 248.9 4.6 264.9 251.4 13.5 942.8 968.9 -26.0 1018.3 1041.6 -23.3
    1. Goods 121.6 173.6 -52.0 116.3 175.8 -59.5 441.4 686.4 -244.9 441.8 729.0 -287.2
       of which:                        
          POL 22.2 48.8 -26.5 14.1 44.3 -30.2 84.2 178.7 -94.6 63.3 185.8 -122.4
    2. Services 89.4 46.7 42.7 102.0 48.7 53.3 341.1 178.3 162.8 387.5 198.7 188.8
    3. Primary Income 10.5 25.3 -14.8 11.9 23.8 -11.9 41.5 91.2 -49.7 53.4 101.8 -48.4
    4. Secondary Income 32.1 3.4 28.7 34.7 3.2 31.5 118.9 13.0 105.9 135.6 12.1 123.5
    B. Capital Account and Financial Account 248.0 253.3 -5.2 255.8 270.2 -14.4 851.9 826.3 25.6 1154.5 1132.8 21.7
       of which:                        
    1. Direct Investment 20.2 17.9 2.3 18.5 18.1 0.4 74.9 64.8 10.2 84.2 83.2 1.0
    2. Portfolio Investment 138.9 127.5 11.4 126.0 131.8 -5.9 466.1 422.0 44.1 639.3 635.8 3.6
    3. Other Investments 82.7 67.7 14.9 106.2 98.8 7.4 287.8 244.7 43.1 368.6 334.2 34.5
       of which:                        
         NRI Deposits 26.0 20.7 5.4 26.3 23.5 2.8 88.6 73.9 14.7 104.5 88.4 16.2
         ECBs to India 11.7 9.2 2.6 15.6 8.2 7.4 33.5 29.9 3.5 47.8 29.4 18.4
    4. Reserve Assets [Increase (-)/Decrease (+)] 0.0 30.8 -30.8 0.0 8.8 -8.8 0.0 63.7 -63.7 37.7 32.6 5.0
    C. Errors & Omissions (-) (A+B) 0.6 0.0 0.6 0.9 0.0 0.9 1.6 1.2 0.4 2.0 0.4 1.5
    PR: Partially Revised; and P: Preliminary.
    Note: Total of sub-components may not tally with aggregate due to rounding off.

    (Puneet Pancholy)   
    Chief General Manager

    Press Release: 2025-2026/611


    MIL OSI Economics

  • MIL-OSI Africa: Stronger Health Through Smarter Taxes in Mauritius


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    WHO has joined forces with VISA NGO and the University of Cape Town to assess the impact of increasing health taxes in Mauritius. Using a simulation tool, the study examined how tax hikes affect tobacco use, government revenues, and premature deaths.

    A 15% annual cigarette tax increase could:

    • Boost excise revenue by 55%
    • Reduce smoking prevalence from 18.1% to 17.4%
    • Prevent 11,600 premature deaths by 2029

    Even more ambitious action—a 25% annual increase—could:

    • Double excise revenues
    • Lower smoking prevalence to 16.3%
    • Save 19,300 lives by 2029

    On 20 June 2025, WHO convened high-level officials from the Ministries of Health and Finance to discuss the findings, presented by the University of Cape Town’s Research Unit on the Economics of Excisable Products and a WHO taxation expert.

    WHO and VISA echoed the study’s call for regular, significant tax increases—one of the most effective ways to curb noncommunicable diseases (NCDs) 

    Earlier, on 26 May, VISA and WHO presented the findings to key stakeholders including the Mauritius Revenue Authority, Ministries of Education and Youth, the University of Mauritius, NGOs, and consumer groups.

    WHO also applauded the Government’s recent decision to raise taxes by 10% on tobacco and alcohol, and 100% on sugary drinks, extending it to products like chocolate and ice cream.

    “This is a gift to public health,” said Dr. Anne Ancia, WHO Representative. “Higher prices on unhealthy products help reduce consumption—especially in a country where obesity, diabetes and cardio-vascular diseases are leading causes of death and disability.”

    Dr. Ancia also stressed the urgent need to enforce the Tobacco Law 2022, particularly the ban on single-stick sales, which undermines progress in reducing tobacco use through higher prices.

    Distributed by APO Group on behalf of World Health Organization (WHO) – Mauritius.

    MIL OSI Africa

  • MIL-OSI China: China willing to maintain economic, trade exchanges with U.S.: vice finance minister

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

    China willing to maintain economic, trade exchanges with U.S.: vice finance minister

    BEIJING, June 27 — China is willing to maintain economic and trade exchanges with the United States based on equality, mutual respect and mutual benefit to deliver benefits to both countries and the world, Vice Minister of Finance Liao Min said, according to a statement released by the ministry on Friday.

    Liao made the remarks when meeting with Graham Allison, a professor from Harvard University, on June 20. The two sides had in-depth exchanges on China-U.S. relations, bilateral economic and trade ties, and issues of mutual concern.

    Guided by the important consensus reached by the two heads of state, the Chinese and U.S. economic and trade teams reached a consensus during high-level talks in Geneva and a principled agreement on consolidating those outcomes in London, and these developments have played an important role in stabilizing both China-U.S. relations and their economic and trade ties, Liao noted.

    He stressed that China will firmly safeguard its legitimate rights and interests. And China is also willing to maintain economic and trade exchanges with the United States based on equality, mutual respect and mutual benefit to deliver benefits to both countries and the world.

    Allison said that the relationship between the United States and China is one of the most important bilateral relationships in the world, and it is of vital importance that both sides maintain and deepen communication.

    He noted that China has achieved notable progress in advancing economic transformation, expanding opening up, and fostering a fair and just market environment. Given the high interdependence of the U.S. and Chinese economies, further deepening economic and trade exchanges serves the common interests of both countries and the world, he said.

    MIL OSI China News

  • MIL-OSI Security: INTERPOL and the European Union join forces for security in Libya

    Source: Interpol (news and events)

    29 November 2012

    LYON, France – Senior Libyan officials from the Ministry of the Interior have attended the first meeting of INTERPOL’s Project RELINC (Rebuilding Libya’s Investigative Capability), a European Union-funded initiative to assist Libyan authorities in developing a sustainable capability to identify security threats and investigate criminal and terrorist activity.

    During the four-day meeting (19 – 22 November) at the General Secretariat headquarters, discussions focused on the key components of the project, including provision of access to INTERPOL’s databases at Libya’s border crossing points and the creation of a crime analysis unit within the criminal investigations department.

    Following the 2011 revolution, the project is aimed at supporting Libyan law enforcement in addressing transnational crimes such as trafficking in weapons, drugs and human beings, which generate violence and threaten to destabilize the country and the region.

    The project consists of seven components :

    • Performing a wide assessment of the threats posed to Libya by transnational organized crime and terrorism, to support the Libyan government and police in identifying strategic enforcement objectives;
    • Initiating the building, within the Libyan police’s Criminal Investigation Department (CID), of a sustainable operational Crime Analysis Unit;
    • Advising the CID to take full operational advantage of the support provided by the future Crime Analysis Unit;
    • Reinforcing the capacity of the INTERPOL National Central Bureau in Tripoli to make optimal use of the INTERPOL network and policing tools;
    • Establishing remote access to INTERPOL databases in key Libyan law enforcement bodies and at strategic border crossing points;
    • Building a prototype police criminal database within police headquarters to enable the Libyan police to efficiently store and share criminal information;
    • Raising the awareness of and training the Libyan police on the international police cooperation tools and mechanisms provided by INTERPOL.

    The 18-month long project, launched in September 2012, is being run from the Office of the Special Representative of INTERPOL to the European Union, with support from INTERPOL’s Middle East and North Africa unit at the General Secretariat.

    MIL Security OSI

  • MIL-OSI Security: Greece to prosecute first maritime piracy case with evidence gathered by INTERPOL team

    Source: Interpol (news and events)

    12 December 2012

    LYON, France – Evidence gathered by an INTERPOL Incident Response Team (IRT) following the release of the hijacked oil tanker Irene SL in April 2011 is to be used by Greece in its first maritime piracy prosecution.

    Lieutenant General Papagiannopoulos was shown INTERPOL’s Command and Coordination Centre.

    A delegation from Greece, headed by Chief of the Hellenic Police, Lieutenant General Nikolaos Papagiannopoulos (centre), visited the INTERPOL General Secretariat in Lyon.

    INTERPOL Secretary General, Ronald K. Noble (right), pledged his full support to Greek law enforcement.

    The announcement comes during a meeting between Chief of the Hellenic Police Lieutenant General Nikolaos Papagiannopoulos and INTERPOL Secretary General Ronald K. Noble at the world police body’s General Secretariat headquarters to identify ways for additional support to be provided to the Greek police.

    The IRT, supported by the South African Police Service and in coordination with European Union Naval Force (EU NAVFOR) and INTERTANKO, was deployed to Durban in South Africa to conduct a crime scene investigation and debriefing of the hostages on board the Irene SL, following its release by Somali pirates 58 days after the vessel was hijacked off the coast of Oman.

    Several of the crew members on board were also able to identify four of their captors from an INTERPOL photo album on maritime piracy, containing images provided by member states and naval forces operating in the Gulf of Aden and the Western Indian Ocean.

    Secretary General Noble said that the case perfectly highlighted the benefits that INTERPOL brings to member countries and how information sharing and a collaborative approach is essential to addressing crime issues anywhere in the world.

    “In these times of financial constraint the added value that INTERPOL and its global network brings to individual countries and global security is even clearer,” said the INTERPOL Chief.

    “INTERPOL will continue to provide every support to Greece, and also calls on the global law enforcement community, countries and regional institutions to identify areas where they can support Greece in meeting the crime challenges which affect us all,” added Mr Noble.

    Lieutenant General Papagiannopoulos said ‘the opportunities for international law enforcement cooperation through INTERPOL help increase the effectiveness of national police services.’

    “Today’s meeting with Secretary General Noble provided us with the opportunity to explore ways of building on our existing cooperation and to identify ways for future development together,” added Mr Papagiannopoulos.

    During his visit, Mr Papagiannopoulos – accompanied by Brigadier General Zacharoula Tsirigoti, Director of the International Police Cooperation Directorate, and Brigadier General Dimitrios Sofios, Deputy Director of the Attika Criminal Investigation Department – was also updated and briefed on a range of INTERPOL’s tools and services including its global database to enhance police cooperation in areas such as combating illegal immigration and trafficking in human beings.

    MIL Security OSI

  • MIL-OSI Security: INTERPOL-Europol operation results in global seizures of fake and illicit food

    Source: Interpol (news and events)

    14 December 2012

    A joint INTERPOL-Europol operation targeting fake and substandard food and drink, as well as the organized crime networks behind this illicit trade, has resulted in the seizure of more than 135 tonnes of potentially harmful goods ranging from everyday products of coffee, soup cubes and olive oil, to luxury goods such as truffles and caviar. A further 100 tonnes of misdeclared and/or potentially hazardous food was confiscated during investigations linked to Operation Opson II.

    Raids and inspections resulted in around 100 arrests and the seizure of more than 135 tonnes of potentially harmful goods, including everyday products such as coffee, soup cubes and olive oil.

    Illicit goods are often produced, transported and stored without any form of hygiene controls, putting the health and safety of consumers at risk.

    This year, Opson expanded beyond Europe to include countries in Africa, the Americas and Asia. Inspections were carried out at this warehouse in Thailand.

    A project under development  –  the INTERPOL Global Register  – will enable people to scan and verify the legitimacy of a product from their mobile device.

    Operation Opson targets fake and substandard food and drink and the organized crime networks behind this illicit trade.

    Cash was also seized during Opson II.

    INTERPOL and Europol representatives helped coordinate action in Madrid, Spain.

    Checks and raids were carried out at airports, seaports, shops, markets and private homes.

    The operation was supported by customs (Hungarian customs officers pictured here), national food regulatory bodies and partners from the private sector.

    The Thai Food and Drug Administration displayed the wide variety of goods seized including snacks, canned food, coffee and soft drinks.

    National police in 29 countries took part. Officers in Budapest, Hungary, were briefed on the operation.

    Opson was a week-long operation, coordinated jointly by INTERPOL and Europol.

    Operation Opson II (3 – 9 December), which involved 29 countries from all regions of the world, resulted in the recovery of more than 385,000 litres of counterfeit liquids including vodka, wine, soy sauce and orange juice in addition to fish, seafood and meat declared unfit for human consumption, as well as fake candy bars and condiments.

    With the fake and substandard food and drink often produced, transported and stored without any form of regulation or hygiene controls, consumers buying these illicit goods are risking their health and safety while the criminal networks make millions in profits which can be used to fund other illegal activities such as human and drug trafficking.

    Operation Opson II saw the number of participating countries rise from 10 in 2011 to nearly 30 this year, an increase which, says Simone Di Meo, a Criminal Intelligence Officer with INTERPOL’s Trafficking in Illicit Goods unit, reflects a growing awareness of the problem and involvement by organized crime.

    “With this year’s operation going beyond Europe and involving countries in Africa, the Americas and Asia, this will enable us to gather even more intelligence about the networks behind this criminal activity and potentially identify global links with other types of crime,” says Mr Di Meo.

    Coordinated by INTERPOL and Europol, the week-long operation was supported by customs, police and national food regulatory bodies in addition to partners from the private sector. Checks and raids were carried out at airports, seaports, shops, markets and private homes.

    “With this operation, we are showing the criminal networks involved in this line of business that they are not safe and, just as importantly, we are helping to protect public health and safety. In many cases, the quality of the packaging of the fake food and drink is so well done that consumers may not even be aware that they are buying illicit products and potentially risking their lives,” says Chris Vansteenkiste, Project Manager of the Intellectual Property Crime Team at Europol.

    Among the key aims of Operation Opson (meaning food in ancient Greek) were the development of practical cooperation between national law enforcement, food and drug agencies and private companies, the identification of the organized criminal groups behind the trafficking, and raising awareness among consumers and governments about this type of crime.

    Countries which took part in Operation Opson II are Austria, Belgium, Benin, Bulgaria, Colombia, Côte d’Ivoire, Czech Republic, Cyprus, Denmark, France, Germany, Greece, Hungary, Iceland, Italy, Jordan, Latvia, the Netherlands, Nigeria, Portugal, Romania, Slovakia, South Africa, Spain, Sweden, Thailand, Turkey, United Kingdom and the USA.

    Investigations are continuing in many countries and additional information on national activities can be obtained from the enforcement agencies of the countries concerned.

    MIL Security OSI

  • MIL-OSI: Sale of Custody Business in Hsbc Germany

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    27 June 2025

    SALE OF CUSTODY BUSINESS IN HSBC GERMANY

    HSBC Continental Europe has reached an agreement to sell its custody business in Germany to BNP Paribas S.A, Niederlassung Deutschland (‘BNP Paribas’) (the ‘Potential Transaction’), reinforcing its focus on being the leading corporate and institutional bank in Germany and Europe for international clients.

    This decision forms part of the simplification strategy of HSBC announced in October 2024. HSBC is focused on increasing its leadership and market share in the areas where it has a clear competitive advantage, and where it has the greatest opportunity to grow and support its clients. This includes connecting European clients to opportunities across HSBC’s international network. For Securities Services, this means focusing on HSBC’s market-leading franchise in Asia and the Middle East and providing best in class custody and fund services to clients in the UK and Europe via our strategic hubs in London, Ireland and Luxembourg.

    The custody business in Germany focuses on domestic custody, clearing and depository services for German institutional clients.

    All custody staff employed by HSBC Continental Europe S.A., Germany, as well as its assets and clients, would transfer to BNP Paribas as part of the Potential Transaction.

    Completion of the Potential Transaction is subject to customary regulatory and anti-trust approvals and the conclusion of negotiations with the Works Council in Germany.

    A phased transfer of staff and clients starting early 2026 is anticipated. Both parties are focused on enabling a smooth transition for clients and colleagues.

    The analysis of strategic options for HSBC Germany’s fund administration business is ongoing.

    Contacts:       

    HSBC Continental Europe
    Headquartered in Paris, HSBC Continental Europe is an indirectly held subsidiary of HSBC Holdings plc. HSBC Continental Europe comprises corporate and institutional banking, private banking, insurance and asset management activities across Continental Europe, including the business activities of 10 European branches (in Belgium, Czech Republic, Germany, Ireland, Italy, Luxembourg, the Netherlands, Poland, Spain and Sweden) and two banking subsidiaries in Luxembourg and Malta. HSBC Continental Europe’s mission is to serve both customers in Continental Europe for their needs worldwide and Group customers for their needs in Continental Europe.

    HSBC Continental Europe S.A., Germany (HSBC Germany’)
    HSBC Germany is the German branch of HSBC Continental Europe, whose activities comprise corporate and institutional banking, private banking and asset management.

    HSBC Holdings plc
    HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. HSBC serves customers worldwide from offices in 58 countries and territories. With assets of US$3,054bn at 31 March 2025, HSBC is one of the world’s largest banking and financial services organisations.

    About BNP Paribas (group.bnpparibas)
    Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

    About Securities Services at BNP Paribas (securities.cib.bnpparibas)
    BNP Paribas’ Securities Services business is a leading global custodian providing multi-asset post-trade and asset servicing solutions to buy-side and sell-side market participants, corporates, and issuers. With a global reach covering 90+ markets, its custody network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide. As a pillar of BNP Paribas’ diversified banking model, Securities Services provides asset servicing solutions that are closely integrated with the first-class services of the Group’s other business lines, in particular those of Global Banking and Global Markets. As of 31 March 2025, Securities Services had USD 15.4 trillion in assets under custody, USD 2.9 trillion in assets under administration and 9,350 funds administered.

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    The MIL Network

  • MIL-OSI Africa: How New Regional Pipeline Deals are Driving Africa’s Energy Future

    Three significant developments in Africa’s energy landscape made headlines this past month: the East African Crude Oil Pipeline (EACOP) reached 60% completion, the Republic of Congo finalized a pipeline cooperation agreement with Russia, and Nigeria and Equatorial Guinea signed a deal to advance a joint natural gas pipeline. These milestones underscore increasing momentum behind transnational pipeline projects in Africa, which are not only critical to unlocking hydrocarbon value chains, but also pivotal to industrial growth, regional cooperation and efforts to end energy poverty.

    With African Energy Week (AEW) 2025: Invest in African Energies set to take place in Cape Town from September 29 to October 3, recent advances in the midstream sector underscore the growing role of large-scale infrastructure in securing Africa’s energy future. AEW 2025 will provide a platform to unpack how strategic partnerships and regional integration can transform pipelines from isolated projects into engines of inclusive development.

    EACOP: Connecting Uganda to Global Markets

    The 1,443-km EACOP is set to link Uganda’s oil fields in the Lake Albert region to the port of Tanga in Tanzania, facilitating the export of up to 246,000 barrels per day. With 60% of the project now completed – including land acquisition, environmental approvals and construction – EACOP is on track to become the longest heated crude oil pipeline in the world.

    More than just a logistical asset, EACOP represents a critical economic corridor. It is expected to generate thousands of jobs, stimulate local content and unlock ancillary infrastructure such as roads, storage facilities and power lines. By enabling Uganda to monetize its crude reserves, the pipeline also enhances fiscal revenues that can be reinvested into energy access, education and healthcare. At AEW 2025, stakeholders will explore how flagship projects like EACOP can be used as case studies for balancing investment, environmental responsibility and community development, while ensuring African nations retain sovereignty over their resources.

    Russia-Congo Deal: A New Axis in Pipeline Diplomacy

    Just days after the EACOP update, Russia ratified a bilateral agreement with the Republic of Congo for the construction of the Pointe-Noire-Loutete-Maloukou-Trechot oil pipeline. The agreement lays the groundwork for joint efforts in planning, financing, construction and operation of the pipeline, set to be completed in three years. The move strengthens energy ties between the two countries and opens the door for Russian investment in Congo’s midstream sector, potentially accelerating the development of critical infrastructure needed to monetize and export the country’s hydrocarbon resources.

    It also signals a shift in Africa’s external energy partnerships, with Congo turning to non-Western allies to build out its infrastructure and secure long-term offtake agreements. It reinforces the idea that diversified geopolitical engagement can help African nations close the infrastructure gap faster, provided partnerships are structured transparently and with shared development objectives. As African countries look to strengthen global cooperation, AEW 2025 will offer a space to evaluate new alliances, discuss risk-sharing mechanisms and align infrastructure development with continental priorities under the African Union’s Agenda 2063.

    Nigeria-Equatorial Guinea: A Boost for West African Gas Integration

    A recent agreement between Nigeria and Equatorial Guinea, signed on June 18, aims to fast-track the development of a joint natural gas pipeline, designed to increase cross-border gas trade and support export capacity. This project is expected to deepen energy cooperation between the two countries, facilitate access to cleaner fuels and contribute to the diversification of energy sources in the region. It also exemplifies how collaborative infrastructure development can unlock new economic opportunities, stimulate investments and enhance regional energy security.

    Midstream infrastructure companies are also stepping up efforts to improve regional gas trade and distribution. The West African Gas Pipeline Company, backed by Chevron among other shareholders, operates a vital pipeline that transports Nigerian gas to Benin, Togo and Ghana. This pipeline supports power generation and industrial use across multiple West African countries and plays a key role in diversifying the regional energy mix and promoting cross-border gas trade. Meanwhile, the Republic of Mozambique Pipeline Investments Company, which manages the Mozambique-South Africa Gas Pipeline, recently opened a new office in Maputo, aiming to strengthen regional gas connectivity and market integration.

    Pipelines and the Fight Against Energy Poverty

    While Africa accounts for 17% of the global population, it accounts for just 3.3% of global power generation. Energy poverty remains a major constraint on industrialization, education, healthcare and entrepreneurship. Pipelines, by moving fuel to where it is needed most – across borders and into domestic markets – can help address this imbalance.

    “In addition to exporting crude, new pipelines have the potential to deliver LPG and natural gas to underserved regions, reducing dependence on biomass and accelerating the shift toward cleaner household and industrial energy,” says NJ Ayuk, Executive Chairman, African Energy Chamber, adding that coordinated planning between countries can ensure pipelines are multi-purpose and scalable, with clear economic multipliers for local populations.

    “AEW 2025 will shine a light on the role of pipelines in achieving universal energy access, examining regulatory frameworks, project finance models and technology solutions that can make these developments more inclusive and efficient,” he notes.

    Distributed by APO Group on behalf of African Energy Chamber.

    AEW: Invest in African Energies
    AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

    MIL OSI Africa

  • MIL-OSI China: AIIB updates corporate strategy

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

    The Asian Infrastructure Investment Bank (AIIB) on Thursday released a new version of its corporate strategy for the period of 2021-2030, outlining its roadmap for future development.

    Unveiled at the 10th Annual Meeting of the Board of the Governors of the Asian Infrastructure Investment Bank from June 24 to 26, the new version is an update of the one that AIIB released five years ago.

    AIIB’s previous version of corporate strategy defines its mission as “financing infrastructure for tomorrow,” with the operational focus on green infrastructure, connectivity and regional cooperation, technology-enabled infrastructure, and private capital mobilization.

    Under the updated strategy, AIIB aims to double its annual financing goal to $17 billion in 2030, and maximize climate impact, targeting over 50% of its own financing to climate-related investments annually in 2025. In fact, AIIB has surpassed this target for three consecutive years since 2022.

    Since its establishment 10 years ago, AIIB has maintained a clearly defined mission of addressing infrastructure financing and development needs across Asia and beyond. It champions multilateralism by enhancing infrastructure connectivity, advancing regional economic integration, and improving people’s living standards.

    As of the first day of the annual meeting on June 24, AIIB had approved a total of 322 projects, with financing exceeding US$60 billion. These investments have mobilized over $200 billion in capital for infrastructure development, benefiting 38 members across Asia and beyond.

    At the meeting, AIIB released the report titled “Scaling Impact through Collaboration: Shaping the Future of AIIB Partnership in the Multilateral Development Bank Context,” reiterating its firm commitment in multilateralism.

    “The past decade has been a decade of collaboration,” said Jin Liqun, president of AIIB, at a press conference of the annual meeting. He said such cooperation has manifested both in AIIB’s partnerships with other institutions.

    The AIIB is embarking on a new decade-long journey and stands ready to deepen collaboration with its diverse partners, including the World Bank, private capital providers, philanthropic organizations, and others, Jin said.

    MIL OSI China News

  • MIL-OSI Asia-Pac: Traffic accident aid scheme updated

    Source: Hong Kong Information Services

    Starting June 28, the Injury Grant and the Interim Maintenance Grant of the Traffic Accident Victims Assistance Scheme will be merged into the Compassionate Grant (CG), the Social Welfare Department announced today.

    An applicant eligible for the CG will receive $330 per day for a maximum of 60 days of sick leave.

    Subject to meeting other criteria, a CG applicant must obtain certification from a registered medical practitioner, including a registered Chinese medicine practitioner, that his/her injury requires hospitalisation for no less than seven days or sick leave for at least seven days. An applicant can only apply for CG once within two years.

    The revised arrangements will apply to applications involving traffic accidents that happen at or after midnight on June 28. Victims of traffic accidents that happened before that time can still apply for the Injury Grant and the Interim Maintenance Grant.

    The arrangements for the other three grants under the Traffic Accident Victims Assistance Scheme, ie the Burial Grant, Death Grant and Disability Grant, will remain unchanged.

    The Social Welfare Department explained that the Government has no intention of altering the original policy intent of the scheme. It said the revised arrangements, approved by the Legislative Council Finance Committee today, aim to enhance the scheme so that it can provide modest but timely relief to victims of traffic accidents in a sustainable manner, help victims overcome short-term financial difficulties, ensure proper use of public resources, and prevent abuse and fraudulent behaviour.

    For individuals with financial difficulties or other welfare needs, the department said it will provide them with appropriate support, including referring them to apply for the Comprehensive Social Security Assistance or other assistance.

    MIL OSI Asia Pacific News

  • MIL-OSI: Amplify ETFs Declares June Income Distributions for its Income ETFs

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, June 27, 2025 (GLOBE NEWSWIRE) — Amplify ETFs announces June income distributions for its income ETFs.

    ETF Name Ticker Amount per Share Ex-Date Record Date Payable Date
    Amplify Bitcoin Max Income Covered Call ETF BAGY $1.41350 6/27/25 6/27/25 6/30/25
    Amplify Bitcoin 2% Monthly Option Income ETF BITY $1.13000 6/27/25 6/27/25 6/30/25
    Amplify Samsung SOFR ETF SOFR $0.35823 6/27/25 6/27/25 6/30/25
    Amplify Bloomberg U.S. Treasury 12% Premium Income ETF TLTP $0.22790 6/27/25 6/27/25 6/30/25
    Amplify CWP Growth & Income ETF QDVO $0.22691 6/27/25 6/27/25 6/30/25
    Amplify COWS Covered Call ETF HCOW $0.18925 6/27/25 6/27/25 6/30/25
    Amplify CWP International Enhanced Dividend Income ETF IDVO $0.16905 6/27/25 6/27/25 6/30/25
    Amplify CWP Enhanced Dividend Income ETF DIVO $0.16752 6/27/25 6/27/25 6/30/25
    Amplify Natural Resources Dividend Income ETF NDIV $0.13865 6/27/25 6/27/25 6/30/25
    Amplify High Income ETF YYY $0.12000 6/27/25 6/27/25 6/30/25
               

    About Amplify ETFs
    Amplify ETFs, sponsored by Amplify Investments, has over $11.2 billion in assets across its suite of ETFs (as of 5/31/2025). Amplify ETFs delivers expanded investment opportunities for investors seeking growth, income, and risk-managed strategies across a range of actively managed and index-based ETFs. To learn more, visit AmplifyETFs.com.

    Sales Contact: Media Contacts:
    Amplify ETFs Gregory FCA for Amplify ETFs
    855-267-3837 Kerry Davis
    info@amplifyetfs.com 610-228-2098
      amplifyetfs@gregoryfca.com
       

    This information is not intended to provide and should not be relied upon for accounting, legal or tax advice, or investment recommendations. To receive a distribution, you must be a registered shareholder of the fund on the record date. Distributions are paid to shareholders on the payment date. There is no guarantee that distributions will be made in the future. Your own trading will also generate tax consequences and transaction expenses. Past distributions are not indicative of future distributions. Please consult your tax professional or financial adviser for more information regarding your tax situation.

    Carefully consider the Funds’ investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in Amplify Funds’ statutory and summary prospectuses, which may be obtained at AmplifyETFs.com. Read the prospectuses carefully before investing.

    Investing involves risk, including the possible loss of principal.

    Amplify ETFs are distributed by Foreside Services, LLC.

    The MIL Network

  • MIL-OSI: Climb Channel Solutions Announces Distribution Partnership with Egnyte

    Source: GlobeNewswire (MIL-OSI)

    EATONTOWN, N.J., June 27, 2025 (GLOBE NEWSWIRE) — Climb Channel Solutions, an international specialty technology distributor and wholly owned subsidiary of Climb Global Solutions, Inc. (NASDAQ: CLMB) is proud to announce a distribution agreement with Egnyte, a leader in secure content collaboration, intelligence, and governance.

    This partnership enables Climb to deliver Egnyte’s cloud-native platform to partners and their customers across the United States, reinforcing Climb’s commitment to expanding access to transformative technologies worldwide. By adding Egnyte to its portfolio, Climb is equipping resellers with a trusted, scalable platform that fits seamlessly into both SMB and enterprise environments. This partnership underscores Climb’s mission to deliver partner-first technologies that move with the speed of modern business.

    “We are thrilled to announce Egnyte’s partnership with Climb Channel Solutions as we continue to invest deeply in the partner community,” said Bob Gagnon, Senior Vice President of Global Channel Sales at Egnyte. “Egnyte is committed to delivering high-quality, innovative solutions, and Climb Channel Solutions is uniquely positioned to add value to the distribution network with deep industry expertise, a strong track record of on-time delivery, and a collaborative approach tailored to regional and strategic objectives.”

    This partnership comes on the heels of Egnyte announcing enhancements to its Partner Program and new partner portal, Partner Hub, reflecting its commitment to delivering a more streamlined approach to better support a broader network of solution partners. Egnyte’s partner program is built upon its three core partnering priorities: profitability, enablement, and simplicity, to help our partners bring Egnyte’s AI-powered cloud collaboration platform to more businesses. Resellers will be able to take advantage of Egnyte’s agile supply chain support, responsive technical assistance, and competitive pricing to enable faster market penetration and sustained growth.

    “Egnyte is a standout addition to our vendor ecosystem,” said Dale Foster, CEO of Climb. “Their channel momentum, combined with a product that addresses real-time collaboration and secure file sharing, makes this a win for our partners. We’re excited to support Egnyte’s continued growth through Climb’s extensive reseller network and to help businesses leverage data more intelligently and securely. Together, we’re making enterprise-grade solutions more accessible.”

    Those interested in distribution services and solutions should contact Climb by phone at +1.800.847.7078 (US), or +1.888.523.7777 (Canada), or by email at Sales@ClimbCS.com.

    About Climb Channel Solutions and Climb Global Solutions

    Climb Channel Solutions is a global specialty technology distributor focused on Security, Data Management, Connectivity, Storage & HCI, Virtualization & Cloud, and Software & Application Lifecycle. What sets Climb apart is our commitment to reimagining distribution through a data-driven approach that brings emerging technologies to market faster. We empower our partners with speed to market, flexible financing, real-time quoting, best-of-breed channel operations, and exceptional service—transforming how distribution supports growth and scalability. Climb Channel Solutions is a wholly owned subsidiary of Climb Global Solutions (NASDAQ: CLMB). Experience distribution reimagined and discover how our people-first approach helps VARs and MSPs grow, scale, and accelerate their business. Visit www.ClimbCS.com, call 1-800-847-7078, and connect with us on LinkedIn!

    For Media & PR inquiries contact:
    Climb Channel Solutions
    Media Relations
    media@ClimbCS.com

    Investor Relations Contact:
    Elevate IR
    Sean Mansouri, CFA
    T: 720-330-2829
    CLMB@elevate-ir.com

    About Egnyte

    Egnyte combines the power of cloud content management, data security, and AI into one intelligent content platform. More than 22,000 customers trust Egnyte to improve employee productivity, automate business processes, and safeguard critical data, in addition to offering specialized content intelligence and automation solutions across industries, including architecture, engineering, and construction (AEC), life sciences, and financial services. For more information, visit www.egnyte.com.

    Media Contact:
    Erin Mancini
    Senior Manager of Public Relations
    media@egnyte.com

    The MIL Network

  • Sensex surges past 84,000, Nifty nears 25,650 as markets hit 9-month high

    Source: Government of India

    Source: Government of India (4)

    The Indian stock markets ended on a strong note on Friday, with benchmark indices touching a nine-month high. Investor sentiment remained upbeat as tensions in West Asia eased and reports of a potential ‘great’ India-US trade deal lifted market confidence, encouraging buying across sectors.

    The Sensex climbed 303.03 points, or 0.36 per cent, to close at 84,058.90. It traded within a range of 83,645.41 to 84,089.35 during the day.

    This marked the fourth consecutive session of gains for the benchmark index, indicating a steady upward trend. The Nifty also saw similar momentum, rising 88.80 points, or 0.35 per cent, to end the day at 25,637.80. The index moved between 25,523 and 25,654 during intra-day trade.

    “The Nifty continued to move higher as investor confidence remained strong. With no major resistance seen before the 25,750–25,800 range, the index may continue its upward trajectory,” said Rupak De of LKP Securities.

    He added that a buy-on-dips strategy appears more appropriate at current levels, following the sharp rise in recent sessions. On the downside, support is placed at 25,500; a break below this level could lead to a phase of consolidation.

    The Sensex had last touched the 84,000 mark in October 2024, while the Nifty had previously reached 25,639 on October 3 last year.

    Broader markets also mirrored the bullish sentiment. The Nifty Midcap100 index rose 0.27 per cent, while the Nifty Smallcap100 jumped 0.91 per cent—indicating that investor interest remained strong beyond large-cap stocks.

    Barring the Nifty Consumer Durables, Realty, IT, and FMCG indices, all other sectoral indices on the NSE closed in the green.

    The Nifty Oil & Gas index outperformed both its sectoral peers and the benchmark indices, ending 1.19 per cent higher.

    Volatility also eased, with the India VIX—the market’s fear gauge—slipping 1.60 per cent to settle at 12.39, suggesting growing investor confidence in near-term market stability.

    -IANS

  • MIL-OSI: KE Holdings Inc. Announces Results of Annual General Meeting

    Source: GlobeNewswire (MIL-OSI)

    BEIJING, June 27, 2025 (GLOBE NEWSWIRE) — KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE; HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, today announced that each of the proposed resolutions submitted for shareholders’ approval (the “Proposed Resolutions”) as set forth in the notice of annual general meeting dated April 17, 2025 have been adopted at the meeting held in Beijing, China today.

    After the adoption of the Proposed Resolutions, all corporate authorizations and actions contemplated thereunder are approved, including, among other things, that (i) Mr. Jeffrey Zhaohui Li is re-elected as a non-executive director and Ms. Xiaohong Chen is re-elected as an independent non-executive director of the Company, and (ii) the directors of the Company are granted a general unconditional mandate to allot, issue and deal with additional Class A ordinary shares or equivalents and a general unconditional mandate to repurchase the Company’s own shares, respectively, on the terms and in the periods as set out in the notice of annual general meeting.

    About KE Holdings Inc.

    KE Holdings Inc. is a leading integrated online and offline platform for housing transactions and services. The Company is a pioneer in building infrastructure and standards to reinvent how service providers and customers efficiently navigate and complete housing transactions and services in China, ranging from existing and new home sales, home rentals, to home renovation and furnishing, and other services. The Company owns and operates Lianjia, China’s leading real estate brokerage brand and an integral part of its Beike platform. With more than 23 years of operating experience through Lianjia since its inception in 2001, the Company believes the success and proven track record of Lianjia pave the way for it to build its infrastructure and standards and drive the rapid and sustainable growth of Beike.

    Safe Harbor Statement

    This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Beike may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”) and The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about KE Holdings Inc.’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Beike’s goals and strategies; Beike’s future business development, financial condition and results of operations; expected changes in the Company’s revenues, costs or expenditures; Beike’s ability to empower services and facilitate transactions on Beike platform; competition in the industry in which Beike operates; relevant government policies and regulations relating to the industry; Beike’s ability to protect the Company’s systems and infrastructures from cyber-attacks; Beike’s dependence on the integrity of brokerage brands, stores and agents on the Company’s platform; general economic and business conditions in China and globally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in KE Holdings Inc.’s filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and KE Holdings Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For investor and media inquiries, please contact:

    In China:
    KE Holdings Inc.
    Investor Relations
    Siting Li
    E-mail: ir@ke.com

    Piacente Financial Communications
    Jenny Cai
    Tel: +86-10-6508-0677
    E-mail: ke@tpg-ir.com

    In the United States:
    Piacente Financial Communications
    Brandi Piacente
    Tel: +1-212-481-2050
    E-mail: ke@tpg-ir.com

    Source: KE Holdings Inc.

    The MIL Network

  • MIL-OSI: TC Energy commences collection of tolls on Southeast Gateway pipeline

    Source: GlobeNewswire (MIL-OSI)

    • Final project cost is approximately US$3.9 billion, 13 per cent under original cost estimate
    • Supplies affordable, reliable and sustainable natural gas to fuel Mexico’s economic growth

    CALGARY, Alberta, June 27, 2025 (GLOBE NEWSWIRE) — News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced that it has commenced the collection of tolls from the Comisión Federal de Electricidad (CFE) for the Southeast Gateway pipeline and has been paid by the CFE for the month of May, on time in accordance with our contract. We continue to work with the newly constituted Comisión Nacional de Energía (CNE) to obtain the approval of our regulated rates as soon as possible, which is required to provide service to potential future interruptible service users on Southeast Gateway other than the CFE.

    The Southeast Gateway pipeline, a 1.3 Bcf/d, 715-kilometre natural gas pipeline, was constructed approximately 13 per cent under the original cost estimate in less than three years from the project’s final investment decision. Southeast Gateway was the first significant energy infrastructure project constructed under our successful public-private partnership with the CFE.

    “The successful completion of the Southeast Gateway pipeline reflects the unwavering commitment of our team, the CFE and the Ministry of Energy (SENER) to support Mexico’s expanding energy demand and future economic development,” said François Poirier, TC Energy’s President and Chief Executive Officer.

    To advance Mexico’s economic growth and energy security, the Government of Mexico has announced plans to add approximately 8.5 gigawatts of newly installed capacity from natural gas power plants. The Southeast Gateway pipeline, along with the Company’s other assets in Mexico, is positioned to play a vital role in supporting this initiative and the transition to lower-emission, more reliable energy sources.

    About TC Energy
    We’re a team of 6,500+ energy problem solvers connecting the world to the energy it needs. Our extensive network of natural gas infrastructure assets is one-of-a-kind. We seamlessly move, generate and store energy and deliver it to where it is needed most, to homes and businesses in North America and across the globe through LNG exports. Our natural gas assets are complemented by our strategic ownership and low-risk investments in power generation.

    TC Energy’s common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. To learn more, visit us at TCEnergy.com.

    FORWARD-LOOKING INFORMATION
    This release contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as “anticipate”, “expect”, “believe”, “may”, “will”, “should”, “estimate”, “intend” or other similar words). Forward-looking statements in this document are intended to provide TC Energy security holders and potential investors with information regarding TC Energy and its subsidiaries, including management’s assessment of TC Energy’s and its subsidiaries’ future plans and financial outlook. All forward-looking statements reflect TC Energy’s beliefs and assumptions based on information available at the time the statements were made, and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-oriented information or financial outlooks for anything other than their intended purpose. We do not update our forward-looking information due to new information or future events, unless we are required to by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the most recent Quarterly Report to Shareholders and Annual Report filed under TC Energy’s profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission at www.sec.gov.

    -30-

    Media Inquiries:
    Media Relations
    media@tcenergy.com
    403-920-7859 or 800-608-7859

    Investor & Analyst Inquiries:
    Gavin Wylie / Hunter Mau
    investor_relations@tcenergy.com
    403-920-7911 or 800-361-6522

    PDF available: http://ml.globenewswire.com/Resource/Download/71eecfb6-0f18-4356-a066-6de39df05b1f

    The MIL Network

  • MIL-OSI: Bitget Wallet Introduces BTC Staking Initiative With Rhea Finance, Offering Up to 15% APY and 3 Million RHEA in Rewards

    Source: GlobeNewswire (MIL-OSI)

    SAN SALVADOR, El Salvador, June 27, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, the leading non-custodial crypto wallet, has worked with decentralized finance platform Rhea Finance to introduce a BTC staking initiative offering yields of up to 15% APY and 3 million RHEA token incentives. Running from June 27 to July 11, the initiative aims to increase participation in decentralized lending and support the growth of Rhea’s onchain ecosystem ahead of its upcoming token generation event.

    Rhea Finance is a decentralized, non-custodial protocol that allows users to supply assets to earn interest or borrow against them through a pool-based interest rate model. By staking BTC through Bitget Wallet, users gain access to competitive yield opportunities and token-based rewards. All incentives will be distributed following the launch of the RHEA token, with participation dependent on staking and completion of a set of engagement tasks.

    To qualify, users must stake at least $10 worth of BTC via Bitget Wallet and complete actions such as following Rhea on social channels and joining its community groups. Each user is limited to one wallet address and device, with a minimum wallet balance required at the close of the initiative. The program combines DeFi-native incentives with a non-custodial experience to drive broader awareness and adoption.

    “This collaboration with Rhea Finance reflects our commitment to enabling secure and accessible on-chain opportunities for everyday users,” said Jamie Elkaleh, CMO at Bitget Wallet. “By integrating high-yield staking directly into the wallet, we’re helping users benefit from DeFi without needing to navigate complex protocols or give up control of their assets.”

    Find out more on Bitget Wallet’s official channels.

    About Bitget Wallet
    Bitget Wallet is a non-custodial crypto wallet designed to make crypto simple and secure for everyone. With over 80 million users, it brings together a full suite of crypto services, including swaps, market insights, staking, rewards, DApp exploration, and payment solutions. Supporting 130+ blockchains and millions of tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges. Backed by a $300+ million user protection fund, it ensures the highest level of security for users’ assets. Its vision is Crypto for Everyone — to make crypto simpler, safer, and part of everyday life for a billion people.

    For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook

    For media inquiries, contact media.web3@bitget.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6d4da5e3-536a-4897-808f-e84e6d95eb30

    The MIL Network

  • MIL-OSI: Bitget Wallet Introduces BTC Staking Initiative With Rhea Finance, Offering Up to 15% APY and 3 Million RHEA in Rewards

    Source: GlobeNewswire (MIL-OSI)

    SAN SALVADOR, El Salvador, June 27, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, the leading non-custodial crypto wallet, has worked with decentralized finance platform Rhea Finance to introduce a BTC staking initiative offering yields of up to 15% APY and 3 million RHEA token incentives. Running from June 27 to July 11, the initiative aims to increase participation in decentralized lending and support the growth of Rhea’s onchain ecosystem ahead of its upcoming token generation event.

    Rhea Finance is a decentralized, non-custodial protocol that allows users to supply assets to earn interest or borrow against them through a pool-based interest rate model. By staking BTC through Bitget Wallet, users gain access to competitive yield opportunities and token-based rewards. All incentives will be distributed following the launch of the RHEA token, with participation dependent on staking and completion of a set of engagement tasks.

    To qualify, users must stake at least $10 worth of BTC via Bitget Wallet and complete actions such as following Rhea on social channels and joining its community groups. Each user is limited to one wallet address and device, with a minimum wallet balance required at the close of the initiative. The program combines DeFi-native incentives with a non-custodial experience to drive broader awareness and adoption.

    “This collaboration with Rhea Finance reflects our commitment to enabling secure and accessible on-chain opportunities for everyday users,” said Jamie Elkaleh, CMO at Bitget Wallet. “By integrating high-yield staking directly into the wallet, we’re helping users benefit from DeFi without needing to navigate complex protocols or give up control of their assets.”

    Find out more on Bitget Wallet’s official channels.

    About Bitget Wallet
    Bitget Wallet is a non-custodial crypto wallet designed to make crypto simple and secure for everyone. With over 80 million users, it brings together a full suite of crypto services, including swaps, market insights, staking, rewards, DApp exploration, and payment solutions. Supporting 130+ blockchains and millions of tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges. Backed by a $300+ million user protection fund, it ensures the highest level of security for users’ assets. Its vision is Crypto for Everyone — to make crypto simpler, safer, and part of everyday life for a billion people.

    For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook

    For media inquiries, contact media.web3@bitget.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6d4da5e3-536a-4897-808f-e84e6d95eb30

    The MIL Network

  • MIL-OSI United Kingdom: UKEF announces enhanced business support to supercharge international trade

    Source: United Kingdom – Executive Government & Departments

    Press release

    UKEF announces enhanced business support to supercharge international trade

    UK Export Finance introduces new products that offer enhanced support and security for smaller businesses when trading internationally

    Smaller businesses are set to benefit from extra government support to maximise orders from international buyers UK Export Finance (UKEF) unveils today, delivering on commitments set out in the government’s new Trade Strategy.  

    The export credit agency and government department plays a vital role in stimulating exports and enhancing accessibility for exporters of all sizes nationwide. 

    UKEF has enhanced its export insurance with a new Small Export Builder option, making export protection more accessible to smaller businesses seeking financial security when trading internationally. 

    The department is also introducing a ‘Repeat Order Guarantee’ so international buyers can easily keep accessing goods and services from their most trusted UK suppliers of all sizes and in a more streamlined way without the need of repeated applications, reducing red tape for business. This will help businesses to plan ahead and give greater assurance to UK-based supply chains. 

    Trade Minister Douglas Alexander said:

    This new hard-headed, data driven, and agile approach to trade policy is guided by our pragmatic patriotism. In this changed and challenging world, we will promote what we can and protect what we must to advance the UK’s national interest.   

    Through our Trade Strategy, we are supporting our businesses to expand and export with a wider range of trade tools that harness our high-growth industries of the future to deliver this government’s Plan for Change. 

    With its larger £80 billion remit, UKEF takes a central role in helping the government to achieve its trade objectives, and support exporters to fulfil orders, create jobs and get paid. 

    UK Export Finance CEO Tim Reid added:

    We’re focused on delivering measurable impact for our customers, placing their needs at the heart of everything we do.  

    UKEF supports businesses through providing financing, guarantees and insurance to support UK exports. We continue to focus on making our products more accessible and easier to use.  

    Our updated insurance offer and Repeat Order Guarantee are fantastic additions to our portfolio and underscore our efforts to support long-term export growth.

    The measures are announced ahead of UKEF’s 2024/25 annual report & accounts which will be published soon.  

    The results will build on the 2023/24 financial year in which UKEF provided over £8.8 billion of support to 650 businesses, supported up to 41,000 jobs in communities around the whole UK and the contribution of up to £3.3 billion to the overall economy. 

    Updates to this page

    Published 27 June 2025

    MIL OSI United Kingdom

  • MIL-OSI Australia: Contract signed for safer and faster journeys in Melbourne’s south east

    Source: Commonwealth Director of Public Prosecutions

    The Albanese and Allan Labor Governments are one step closer to delivering safer and faster journeys for people living in Clyde North, Cranbourne North and Berwick.

    The contract award to upgrade the Thompsons Road and Berwick-Cranbourne Road intersection in Melbourne’s south east has been announced.

    Victorian family owned and operated Whelans Group Investments was the successful bidder for the project that will cut congestion and improve traffic flow for the 47,000 motorists that use the busy intersection every day.

    The upgrade will remove the current roundabout and replace the intersection with traffic lights, and enhance bus infrastructure, improving driving conditions and motorists’ safety.

    Walking and cycling paths will also be built along the intersection upgrade, offering safer travel options for all road users.

    Over the coming months, crews will undertake site investigations, utility relocation and site establishment works, paving the way for major construction to begin later in the year and to be completed in mid-2027.

    The upgrade will benefit local jobs, creating 120 direct jobs and 297 indirect jobs during these works.

    The project is in addition to already completed projects in Melbourne’s south east, including upgrades to Narre Warren-Cranbourne Road, Pound Road West and Healesville-Koo Wee Rup Road and Hall Road which have all helped to cut congestion for motorists and busy families.

    Quotes attributable to Federal Minister for Infrastructure, Transport, Regional Development and Local Government Catherine King:

    “This busy roundabout will be transformed with traffic lights, bus bays and footpaths which will have a significant flow on effect for everyone using the intersection.”

    Quotes attributable to Acting Victorian Minister for Transport Infrastructure Sonya Kilkenny:

    “As Melbourne’s south east continues to grow, we are continuing to make critical investments on our road and rail networks to cut congestion and slash travel times for families.”

    Quotes attributable to Federal Member for Bruce Julian Hill:

    “Victoria was totally screwed for a decade by the Liberals on infrastructure funding.

    “The Federal Labor Government is treating Victorians fairly by investing in infrastructure projects that are priorities for local communities.”

    Quotes attributable to Federal Member for Holt Cassandra Fernando:

    “As someone who lives in this community, I know just how frustrating this intersection can be.

    “This upgrade will make a real difference for local families with safer, faster, and more reliable journeys through Clyde North.”

    Quotes attributable to State Member for Cranbourne Pauline Richards:

    “Clyde, Cranbourne and Narre Warren South are great destinations for young families to live in and this upgrade will ensure they’re able to get on with their lives instead of waiting in traffic.”

    Quotes attributable to State Member for Narre Warren South Gary Maas:

    “Works are set to begin to remove this intersection which will improve traffic flow and cut congestion.”

    MIL OSI News

  • MIL-OSI Australia: Outstanding local government achievements recognised

    Source: Commonwealth Director of Public Prosecutions

    Outstanding achievers in local government have been recognised today, with 13 category winners announced for the 2025 National Awards for Local Government. 

    Now in their 39th year, the awards celebrate inspirational service delivery, acknowledging the important role local government plays in improving the daily lives of Australians.

    Ninety-five local governing bodies across Australia made a total of 192 submissions for projects addressing critical topics such as regional growth, road safety and environmental sustainability.

    Joining these topics as a category for the first time this year was affordable housing, to recognise projects addressing housing needs for communities. 

    The outstanding rural and remote council category was also new this year, to honour the achievements of smaller remote or rural councils with a population of 15,000 people or less, who entered any of the other 12 award categories.   

    The list of this year’s category winners is below, with more details on each project available at www.infrastructure.gov.au/territories-regions-cities/local-government/national-awards-local-government.

    Quotes attributable to Minister for Regional Development and Local Government, Kristy McBain MP:

    “This year saw the most submissions ever received in the history of these awards, showcasing the hard work of local governments in delivering targeted, quality services to their communities – even in the face of adversity like natural disasters. 

    “I’d like to congratulate the category winners, and all the applicants, for this year’s local government awards. 

    “Your projects and the enormous efforts behind them are having real and positive impacts for communities, bringing them together and elevating local amenity.”  

    2025 National Awards for Local Government category winners:

    Category Winning Council Winning project name
    Aboriginal and Torres Strait Islander People’s Recognition West Arnhem Regional Council West Arnhem Youth Leadership Summit
    Addressing Violence against Women and Children City of Stirling Naala Djookan Healing Centre
    Affordable Housing Palm Island Aboriginal Shire Council Palm Island Housing Investment Scheme
    Arts and Culture City of Gosnells 2024 Fusion Food and Culture Festival
    Cohesive Communities City of Stirling Walking Together Local Convos
    Disaster Readiness and Recovery City of Wanneroo Mariginiup Bushfire – From preparedness to recovery, a community-first approach
    Environmental Sustainability Town of Victoria Park Bird Waterers – Cockitroughs
    Outstanding Rural and 
    Remote Council
    Parkes Shire Council Fleet Optimisation and Innovation – A smarter approach to asset management
    Productivity through Infrastructure City of Stirling Hamersley Public Golf Course Redevelopment
    Regional Growth Shire of Murray The Exchange Hotel, Pinjarra
    Road Safety Blacktown City Council Risks of NOT planting trees along our streets
    Women in Local Government City of Wanneroo Kirsten Thrush & Katie Russell – Leading the disaster recovery from Mariginiup Bushfire
    Workforce and Skills Burwood Council Breaking Barriers – Growing the Learn to Swim workforce

    Photographs from the award ceremony available here: https://communicationsgovau.box.com/s/j5ljark5bnehu4au5pn6zwlzx7k0vxlg

    MIL OSI News

  • MIL-OSI: Hyperscale Data Subsidiary Bitnile.com Now Accepting All Verified Solana-Based $SOL Tokens, Including Meme Coins

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, June 27, 2025 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced that its indirect wholly owned subsidiary Bitnile.com, Inc. (“Bitnile”) has begun accepting all verified Solana-based tokens as a payment method on its sweepstakes-based social-casino platform Bitnile.com. These include recently trending coins such as $BONK, $TRUMP, and many others on the Solana network. Bitnile reserves the right to not accept specific coins dependent on certain factors such as verification, liquidity and other factors.

    Key Highlights

    • Full support for all verified Solana-based tokens: Any verified token issued under the Solana Program Library standard.
    • Wallet integration for Solana users.
    • Fast, low-fee transactions through the Solana network.
    • Real-time compatibility with trending coins such as $BONK, $TRUMP, Jupiter, Raydium and more.

    The Solana ecosystem continues to expand as new projects are regularly launched across multiple verticals such as decentralized finance, non-fungible tokens, decentralized applications, gaming, and enterprise tools. By embracing this diversity, Bitnile positions itself to capture a wider user base by providing additional onboarding options.

    “Solana is one of the most powerful and vibrant ecosystems within the cryptocurrency world today,” stated Joe Spaziano, Chief Executive Officer of Bitnile. “By opening Bitnile up to every verified Solana-based token, we’re giving users the freedom to bring their communities with them while playing on the Bitnile.com platform. A goal of the team is to make Bitnile.com a highly inclusive and flexible social-casino platform, with opportunities for a large user base to enjoy the platform.”

    For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

    About Hyperscale Data, Inc.

    Through its wholly owned subsidiary Sentinum, Inc., Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence (“AI”) ecosystems and other industries. Hyperscale Data’s other wholly owned subsidiary, ACG, is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.

    Hyperscale Data hopes to divest itself of ACG on or about December 31, 2025 (the “Divestiture”). Upon the occurrence of the Divestiture, the Company would solely be an owner and operator of data centers to support HPC services, though it may at that time continue to operate in the digital asset space as described in the Company’s filings with the SEC. Until the Divestiture occurs, the Company will continue to provide, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an AI software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, ACG is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141.

    On December 23, 2024, the Company issued one million (1,000,000) shares of a newly designated Series F Exchangeable Preferred Stock (the “Series F Preferred Stock”) to all common stockholders and holders of the Series C Convertible Preferred Stock on an as-converted basis. The Divestiture will occur through the voluntary exchange of the Series F Preferred Stock for shares of Class A Common Stock and Class B Common Stock of ACG (collectively, the “ACG Shares”). The Company reminds its stockholders that only those holders of the Series F Preferred Stock who agree to surrender such shares, and do not properly withdraw such surrender, in the exchange offer through which the Divestiture will occur, will be entitled to receive the ACG Shares and consequently be stockholders of ACG upon the occurrence of the Divestiture.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

    Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at hyperscaledata.com.

    Hyperscale Data Investor Contact:
    IR@hyperscaledata.com or 1-888-753-2235

    The MIL Network

  • MIL-OSI: Hyperscale Data Subsidiary Bitnile.com Now Accepting All Verified Solana-Based $SOL Tokens, Including Meme Coins

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, June 27, 2025 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced that its indirect wholly owned subsidiary Bitnile.com, Inc. (“Bitnile”) has begun accepting all verified Solana-based tokens as a payment method on its sweepstakes-based social-casino platform Bitnile.com. These include recently trending coins such as $BONK, $TRUMP, and many others on the Solana network. Bitnile reserves the right to not accept specific coins dependent on certain factors such as verification, liquidity and other factors.

    Key Highlights

    • Full support for all verified Solana-based tokens: Any verified token issued under the Solana Program Library standard.
    • Wallet integration for Solana users.
    • Fast, low-fee transactions through the Solana network.
    • Real-time compatibility with trending coins such as $BONK, $TRUMP, Jupiter, Raydium and more.

    The Solana ecosystem continues to expand as new projects are regularly launched across multiple verticals such as decentralized finance, non-fungible tokens, decentralized applications, gaming, and enterprise tools. By embracing this diversity, Bitnile positions itself to capture a wider user base by providing additional onboarding options.

    “Solana is one of the most powerful and vibrant ecosystems within the cryptocurrency world today,” stated Joe Spaziano, Chief Executive Officer of Bitnile. “By opening Bitnile up to every verified Solana-based token, we’re giving users the freedom to bring their communities with them while playing on the Bitnile.com platform. A goal of the team is to make Bitnile.com a highly inclusive and flexible social-casino platform, with opportunities for a large user base to enjoy the platform.”

    For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

    About Hyperscale Data, Inc.

    Through its wholly owned subsidiary Sentinum, Inc., Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence (“AI”) ecosystems and other industries. Hyperscale Data’s other wholly owned subsidiary, ACG, is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.

    Hyperscale Data hopes to divest itself of ACG on or about December 31, 2025 (the “Divestiture”). Upon the occurrence of the Divestiture, the Company would solely be an owner and operator of data centers to support HPC services, though it may at that time continue to operate in the digital asset space as described in the Company’s filings with the SEC. Until the Divestiture occurs, the Company will continue to provide, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an AI software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, ACG is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141.

    On December 23, 2024, the Company issued one million (1,000,000) shares of a newly designated Series F Exchangeable Preferred Stock (the “Series F Preferred Stock”) to all common stockholders and holders of the Series C Convertible Preferred Stock on an as-converted basis. The Divestiture will occur through the voluntary exchange of the Series F Preferred Stock for shares of Class A Common Stock and Class B Common Stock of ACG (collectively, the “ACG Shares”). The Company reminds its stockholders that only those holders of the Series F Preferred Stock who agree to surrender such shares, and do not properly withdraw such surrender, in the exchange offer through which the Divestiture will occur, will be entitled to receive the ACG Shares and consequently be stockholders of ACG upon the occurrence of the Divestiture.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

    Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at hyperscaledata.com.

    Hyperscale Data Investor Contact:
    IR@hyperscaledata.com or 1-888-753-2235

    The MIL Network

  • MIL-OSI USA: Governor Newsom announces appointments 6.26.25

    Source: US State of California 2

    Jun 26, 2025

    SACRAMENTO – Governor Gavin Newsom today announced the following appointments:

    Kira Younger, of Fair Oaks, has been appointed Chief Financial Officer and Director of the Finance and Accounting Division at the California Department of Social Services. Younger has been Chief of Fiscal Forecasting at the California Department of Social Services since 2021, where she has held several roles since 2016, including Budget Officer and Staff Services Manager. She was Financial Manager at the California Office of Systems Integration from 2018 to 2019. Younger earned a Master of Business Administration degree in Strategic Management and a Bachelor of Business Administration degree in Accounting from Western Governors University. This position does not require Senate confirmation, and the compensation is $176,160. Younger is a Democrat. 

    Lauren Gavin Solis, of Los Angeles, has been appointed Deputy Director of the Office of Medicare Innovation and Integration at the Department of Health Care Services. Solis has been Acting Group Director for the Medicare-Medicaid Coordination Office at Centers for Medicare and Medicaid Services since 2025, where she has held several roles since 2013, including Team Lead and Health Insurance Specialist. She was a Health Policy Scholar at the National Coalition on Health Care from 2012 to 2013. Solis was a Presidential Management Fellow at the National Institutes of Health from 2011 to 2013. She held several roles at Triage Consulting Group from 2005 to 2010, including Legal Services Manager, Senior Associate, and Associate. Solis earned a Master of Public Health degree in Health Systems and Policy from Johns Hopkins University and a Bachelor of Arts degree in Psychology from the University of California, Davis. This position does not require Senate confirmation, and the compensation is $187,020. Solis is a Democrat. 

    Julia Parish, of Oakland, has been appointed Deputy Director of Legislation, Regulation, and Policy at the California Civil Rights Department. Parish has been a Senior Staff Attorney at Legal Aid at Work since 2019, where she has held multiple positions since 2011, including Staff Attorney, and Equal Justice Works AmeriCorps Legal Fellow. She was a Research Assistant to Professor David Oppenheimer at University of California, Berkeley School of Law in 2010. Parish earned a Juris Doctor degree from the University of California, Berkeley School of Law, a Master of Science degree in Education from Pace University, and a Bachelor of the Arts in Political Science and Spanish from University of California, Berkeley. This position does not require Senate confirmation, and compensation is $146,268. Parish is a Democrat.

    Juliet Michelson Wahleithner, of Fresno, has been appointed Director of Research, Evaluation, and Assessment at the Commission on Teacher Credentialing. Wahleithner has been a Special Consultant for the Office of Policy and Continuous Improvement at the Commission on Teacher Credentialing since 2025. Wahleithner has been an Associate Professor for Literacy Education at California State University, Fresno since 2021, where she has held several roles since 2015 including Director of Educator Preparation and Accreditation, Director of San Joaquin Valley Writing Project, and Assistant Professor. She held several roles at University of California, Davis School of Education from 2008 to 2015, including Postdoctoral Researcher, Lecturer, Accreditation coordinator, and Graduate Student Assistant. Wahleithner held several roles at Lodi Unified School District from 1999 to 2007, including Differentiated Instruction Curriculum Coach and an English and Journalism Teacher. She is a Member of the American Educational Research Association, California Council on Teacher Education, and Board of Directors of Saint Agnes Child Development Center. Wahleithner earned a Doctor of Philosophy degree in Education, a Master of Arts degree in Education, and a Bachelor of Arts degree in English from University of California, Davis. This position does not require Senate confirmation, and the compensation is $163,788. Wahleithner is a Democrat.

    Sophear Price, of Santa Rosa, has been appointed Skilled Nursing Facility Administrator at the Yountville Veterans Home of California. Price has been the Standards Compliance Coordinator at the Yountville Veterans Home of California since 2018. Price held multiple roles at the Sonoma Development Center from 2014 to 2017, including Community Programs Specialist II and Individual Programs Coordinator. She earned a Bachelor of Arts degree in Psychology from California State University, Sonoma. This position does not require Senate confirmation, and the compensation is $159,120. Price is registered without party preference. 

    Press releases, Recent news

    Recent news

    News What you need to know: La Passeggiata on Lindsey Street in Stockton is the latest site to be transformed from excess, underutilized state land into affordable housing under Governor Newsom’s executive order. STOCKTON — Today, state leaders broke ground on a new…

    News What you need to know: There are many disingenuous claims swirling about California gas prices “set to soar” – the truth is that gas prices won’t come anywhere close to increasing by 65 cents, as many would have you believe.   SACRAMENTO – California gas prices…

    News What you need to know: Governor Newsom announced $135 million is available for wildfire prevention grants – protecting communities from catastrophic wildfire at the same time as President Trump adds new strain to firefighting resources. SACRAMENTO – As President…

    MIL OSI USA News

  • MIL-OSI United Nations: Informed financing for a riskier future: Building resilience in the age of extremes

    Source: UNISDR Disaster Risk Reduction

    Time

    8:30 – 10:00 am (CET)

    About

    This high-level event will highlight the urgency of risk-informed financial governance, and foster dialogue among key stakeholders on how to scale up support for countries most in need for the implementation of the International Conference on Financing for Development (FFD4) outcome. The event will:

    1. Promote the integration of disaster and climate risk into national planning and budgeting, with regards to SDG-aligned frameworks including Integrated National Financing Frameworks (INFFs).

    2. Share good practices and success stories from governments, financial institutions, and development partners;

    3. Present the goals, structure, and expected impact of an initiative to support developing countries as they establish national financial systems for DRR, and explore opportunities for collaboration and resource mobilization;

    Background

    The 4th International Conference on Financing for Development (FFD4), is scheduled to take place from 30 June to 3 July 2025 in FIBES Sevilla Exhibition and Conference Centre, Spain.

    FFD4 aspires to build a renewed global financing framework that will unlock greater volumes of capital at a lower cost. In Sevilla, and through a renewed global financing framework, leaders are taking action to deliver an SDG investment push and to reform the international financial architecture to enable the transformative change that the world urgently needs.

    MIL OSI United Nations News

  • MIL-OSI New Zealand: Reti to represent NZ at UN development conference

    Source: New Zealand Government

    Pacific Peoples and Science, Innovation and Technology Minister Dr Shane Reti departs this week for visits to Spain and the United Kingdom.
    In Spain, Dr Reti will represent New Zealand at the 4th International Conference on Financing for Development. 
    “The Conference is an opportunity to reaffirm New Zealand’s commitment to the Sustainable Development Goals at a time where the Goals, and the international development cooperation system, are facing major challenges,” Dr Reti says. 
    “An important role as Minister for Pacific Peoples will be working with Pacific partners and other Small Island Developing States to prioritise their interests at the Conference.
    “While in Seville I will meet with counterparts from across the world to discuss how shifts in donor funding, and the deteriorating geostrategic environment, are affecting our efforts to realise the 2030 Agenda on Sustainable Development.”
    Dr Reti will then travel to London, United Kingdom to deepen science, innovation and technology ties.
    “Harnessing science, innovation and technology is a core pillar of the Government’s Going for Growth agenda, and the UK is a key partner for New Zealand,” Dr Reti says.
    UK and New Zealand researchers have strong collaborative relationships across a broad range of important areas such as medical and health science, physics, biological science, and engineering. 
    “While in London I will meet with counterparts to explore new areas of cooperation and ideas to reform and modernise New Zealand systems,” Dr Reti says. 
    Dr Reti will also take the opportunity to discuss approaches to census delivery with the UK. 
    New Zealand and the UK are both looking towards administrative data to support future census delivery and provide more relevant, useful, and timely information to support decision making. 
    Dr Reti departs New Zealand on Friday 27 June and returns on Sunday 6 July 2025.

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Reti to represent NZ at UN development conference

    Source: New Zealand Government

    Pacific Peoples and Science, Innovation and Technology Minister Dr Shane Reti departs this week for visits to Spain and the United Kingdom.
    In Spain, Dr Reti will represent New Zealand at the 4th International Conference on Financing for Development. 
    “The Conference is an opportunity to reaffirm New Zealand’s commitment to the Sustainable Development Goals at a time where the Goals, and the international development cooperation system, are facing major challenges,” Dr Reti says. 
    “An important role as Minister for Pacific Peoples will be working with Pacific partners and other Small Island Developing States to prioritise their interests at the Conference.
    “While in Seville I will meet with counterparts from across the world to discuss how shifts in donor funding, and the deteriorating geostrategic environment, are affecting our efforts to realise the 2030 Agenda on Sustainable Development.”
    Dr Reti will then travel to London, United Kingdom to deepen science, innovation and technology ties.
    “Harnessing science, innovation and technology is a core pillar of the Government’s Going for Growth agenda, and the UK is a key partner for New Zealand,” Dr Reti says.
    UK and New Zealand researchers have strong collaborative relationships across a broad range of important areas such as medical and health science, physics, biological science, and engineering. 
    “While in London I will meet with counterparts to explore new areas of cooperation and ideas to reform and modernise New Zealand systems,” Dr Reti says. 
    Dr Reti will also take the opportunity to discuss approaches to census delivery with the UK. 
    New Zealand and the UK are both looking towards administrative data to support future census delivery and provide more relevant, useful, and timely information to support decision making. 
    Dr Reti departs New Zealand on Friday 27 June and returns on Sunday 6 July 2025.

    MIL OSI New Zealand News

  • MIL-OSI Asia-Pac: President Lai confers decoration on former Japan-Taiwan Exchange Association Chairman Ohashi Mitsuo

    Source: Republic of China Taiwan

    Details
    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.

    Details
    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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    2025-06-05
    President Lai welcomes President Bernardo Arévalo of Republic of Guatemala with military honors  
    On the morning of June 5, President Lai Ching-te welcomed with full military honors President Bernardo Arévalo of the Republic of Guatemala and his wife, who are leading a delegation of cabinet members visiting Taiwan for the first time, demonstrating the deep and enduring alliance between our nations. In remarks, President Lai noted that over the past few years, bilateral cooperation between Taiwan and Guatemala has grown closer and more diverse, and said that moving forward, based on a foundation of mutual assistance for mutual benefit, we will continue to promote programs in line with international trends, spurring prosperity and development in both our nations. The military honors ceremony began at 10:30 a.m. in the Entrance Hall of the Presidential Office. After a 21-gun salute and the playing of the two countries’ national anthems, President Lai and President Arévalo each delivered remarks. A translation of President Lai’s remarks follows: Today, President Arévalo and First Lady Lucrecia Peinado are leading a delegation of cabinet members visiting Taiwan for the first time, demonstrating the deep and enduring alliance between our nations. On behalf of the people and government of the Republic of China (Taiwan), I want to extend my sincerest welcome. Last year, our two countries celebrated the 90th anniversary of diplomatic ties, providing mutual support all along the way. Especially over the past few years, bilateral cooperation has grown closer and more diverse. We have a long record of remarkable results, whether in terms of medicine and public health, education and culture, technological cooperation, or economic and trade exchanges. Moving forward, based on a foundation of mutual assistance for mutual benefit, Taiwan and Guatemala will continue to promote programs in line with international trends. We will continue to strengthen exchange and cooperation for young people, as well as scholarship programs, and actively cultivate high-tech and information and communications technology industry talent, spurring prosperity and development in both our nations. Although separated by a great distance, the peoples of both countries are closely connected by their ideals and values. I am confident that with President Arévalo’s support, bilateral exchanges and cooperation will become closer and more diverse, beginning a very promising new chapter. I wish the visiting delegation a smooth and successful trip. President Arévalo then delivered remarks, saying that on behalf of the government and people of Guatemala, he is honored to visit the Republic of China (Taiwan), this beautiful nation, and to receive full military honors, which reflects the mutual respect between our two nations as well as our solid friendship. Especially as this state visit comes as we celebrate 90 years of formal diplomatic ties, he said, he has brought the foreign minister, economics minister, private secretary to the president, and social communication secretary as members of his delegation, in the hope of our ties embarking on a new chapter. President Arévalo said that Guatemala-Taiwan ties have in recent years been growing steadily on a foundation of mutual understanding and cooperation, making significant progress, and that our peoples have also cultivated sincere friendships and cooperative relationships across many fields. Our nations are especially promoting public health, education, agricultural technology, and infrastructure, he said, key fields which are conducive to economic and social development. He expressed his hope that on such good foundations of the past, we can further strengthen our bilateral ties for the future. President Arévalo stated that through this state visit they not only want to reaffirm the good bilateral ties between our nations, but that they also hope to define a trajectory for the future of our cooperation in the direction of expanding economic cooperation, building economic and trade alliances, and facilitating investment to foster a Taiwan-Guatemala relationship that benefits both peoples. He then expressed gratitude to the people of Taiwan for helping Guatemala over the past 90 years and reaffirmed the unwavering support of Guatemala for the Republic of China (Taiwan). On the occasion of this visit, he said, he hopes to extend a friendly hand to the people of Taiwan, adding that he looks forward to our nations continuing to take major steps forward on the road of mutual assistance and prosperity. Also in attendance at the welcome ceremony were Dean of the Diplomatic Corps and Saint Vincent and the Grenadines Ambassador Andrea Clare Bowman, and members of the foreign diplomatic corps in Taiwan.  

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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