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Category: Finance

  • MIL-OSI Russia: IMF and South Sudan Reach Staff-Level Agreement on a Nine-Month Staff-Monitored Program

    Source: IMF – News in Russian

    June 20, 2025

    Staff-Monitored Programs (SMPs) are informal arrangements between national authorities and IMF staff to monitor the authorities’ economic program. As such, they do not entail endorsement by the IMF Executive Board. SMP Staff reports are issued to the Board for information.

    • IMF staff and the South Sudanese authorities have reached a staff-level agreement on a nine-month Staff-Monitored Program (SMP), which is expected to start in August 2025, pending approval from the IMF’s Management.
    • The SMP aims to support South Sudan in designing and implementing policies and key reforms to strengthen its economic resilience to shocks, enhance macroeconomic stability, restore sustainability, and improve governance and transparency.
    • The South Sudanese economy is projected to start recovering as oil production has resumed from the oil pipeline damaged in February 2024 due to the war in Sudan. This disruption had halted oil exports, fiscal revenues, and foreign exchange (FX) proceeds for over a year, leading to liquidity and financing constraints. The recovery is expected to be gradual and hinges on continued improvement in the security environment and political stability.

    Washington, DC: Upon request from the authorities, an International Monetary Fund (IMF) staff team, led by Ms. Mame Astou Diouf, held meetings in Juba, South Sudan, from June 11 to 20, 2025 to negotiate a Staff-Monitored Program (SMP) in support of the authorities’ economic and financial reform program. This SMP request follows the conclusion of South Sudan’s Staff Monitored Program with Board Involvement (PMB) on November 15, 2024 (See Press Release No. 24/434).

    At the end of the mission, Ms. Diouf issued the following statement:

    “The South Sudanese authorities and the IMF team have reached a staff-level agreement on the economic and structural policies and reforms that will underpin a nine-month SMP, pending approval by the IMF’s Management.

    “Since early 2014, South Sudan has faced severe shocks that have exacerbated the country’s post-conflict fragility and humanitarian situation. Due to the war in Sudan, the country’s main oil pipeline was damaged in February 2024, halting related oil exports, fiscal revenues, and FX proceeds for over a year. The conflict also triggered a large influx of refugees, compounding an already-dire social and humanitarian situation caused by recurrent floodings, agricultural production losses, widespread food insecurity, and large-scale population displacement. The recent steep decline in international aid flows risks exacerbating the humanitarian challenges facing the country.

    “The short- and medium-term economic outlook is moderately favorable and improving, contingent on a continuously improving security environment and political stability. The resumption of oil exports through the main pipeline since April 2025 is promising. While real GDP growth is projected to have contracted during FY2024/25 due to the lower oil production, it is expected to recover in FY2025/2026 as oil exports gradually strengthen. The rebound in oil exports is expected to significantly improve the current account balance, helping rebuild external buffers. The parallel foreign exchange (FX) market premium stood at 30.8 percent on June 11, 2025.

    “While the budget execution of FY2024/2025 has been constrained by the financing constraints, non-oil domestic revenue collection was strong. This has allowed the resumption of government salary payments. However, structural bottlenecks partly hinder the effective distribution of salaries to civil servants due to cash shortages. For FY2025/2026, oil revenue is expected to recover substantially. Non-oil revenue will remain strong, benefiting from the continued implementation of tax policy reforms approved under the FY2024/2025 budget and broader revenue administration improvements. This will gradually ease liquidity constraints and provide some fiscal space for cautious repayment of salary arrears and a gradual increase of priority social spending and debt service repayments, while maintaining prudent fiscal management and cautious investment plans, given the continued risks to the outlook.

    “Inflation has remained high. Average inflation is projected at about 143 percent in FY2024/2025, and expected to slow down in FY2025/26, thanks to ongoing tight monetary policy and a reduction in monetary financing. The debt-to-GDP ratio is forecast at about 58 percent of GDP in FY2024/2025, with large debt vulnerabilities. With the easing liquidity constraints, debt sustainability is projected to strengthen.

    “Against this background, the South Sudanese authorities have requested a nine-month SMP to help strengthen economic resilience to shocks and foster macroeconomic stability through sound and prudent policies conducive to sustained growth. Key priorities under the SMP include:

    “Restoring fiscal and public debt sustainability in the near term and laying the groundwork for positive medium-term prospects through prudent debt management and improved domestic revenue mobilization to increase fiscal space for priority spending, including salary and social programs. Enhancing spending efficiency, including through public financial and investment management reforms, will support public service delivery against the backdrop of high spending needs and limited availability of domestic and external financing.

    “Maintaining a tight monetary policy stance to curb inflationary pressures and exchange rate depreciation. This includes containing monetary financing and continuing liquidity mop-up operations. While the official exchange rate has gradually decreased since August 2024 to narrow the parallel FX market premium, further policy adjustment is required to unify the official and parallel FX markets and increase FX reserves.

    “Steadfast implementation of the governance and accountability reform agenda will be critical to addressing the country’s sources of fragility and creating an environment conducive to strong, diversified, and sustained growth and improved living standards. This includes the governance and transparency of oil-related investment programs.

    “The mission met His Excellency, Dr. Benjamin Bol Mel, Vice President and Chairperson of the Economic Cluster, the Minister of Finance and Planning, Honorable Dr. Marial Dongrin Ater, the Governor of the Bank of South Sudan, Dr. Addis Ababa Othow, and other senior government officials, as well as representatives from civil society, private sector, and development partners.

    “The mission takes the opportunity to thank the authorities and stakeholders for their warm hospitality, strong cooperation, and for open and productive discussions.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Wafa Amr

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

    https://www.imf.org/en/News/Articles/2025/06/20/pr-25200-south-sudan-imf-and-south-sudan-reach-agreement-on-9-month-staff-monitored-program

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Security: Former Haitian Mayor and Human Rights Violator Sentenced to Nine Years in Prison for Lying about Past Involvement in Political Violence

    Source: United States Attorneys General

    Note: See indictment here.

    Jean Morose Viliena, the former Mayor of Les Irois, Haiti, was sentenced today to nine years in prison followed by three years of supervised release by Chief Judge F. Dennis Saylor IV for the District of Massachusetts for possessing and using a Permanent Resident Card he had fraudulently obtained by falsely stating that he had not ordered, carried out, or materially assisted in extrajudicial and political killings and other acts of violence against the Haitian people. A federal jury convicted Viliena in March 2025 of three counts of visa fraud.

    “In Haiti, Jean Morose Viliena was involved in the violent killings, beatings, and assaults of whomever he believed threatened his power as mayor,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “His lies to U.S. immigration authorities allowed him to unlawfully enter this country and obtain lawful permanent resident status. Individuals who commit violent crimes in their home countries should take note: we do not tolerate human rights abusers who lie to take refuge here. We will find you, investigate you, and prosecute you to ensure that you are held accountable to the maximum extent of U.S. law for your heinous criminal conduct.”

    “Jean Morose Viliena built a life in the United States by burying the truth about his violent past – a past marked by political persecution, bloodshed and the silencing of dissent in Haiti,” said U.S. Attorney Leah B. Foley for the District of Massachusetts. “For more than a decade, he lived freely and comfortably in this country while the victims of his brutality lived in fear, exile and pain. Today’s sentence brings a measure of justice for the lives he shattered and sends a clear message: the United States will not be a safe haven for human rights abusers. Lying to gain entry into this country and then lying again under oath to avoid accountability strikes at the heart of our immigration and legal systems. I commend the tremendous courage of the victims and witnesses who stood up and spoke the truth despite the risks and made this outcome possible.”

    “Today’s sentencing underscores the commitment of Homeland Security Investigations to ensuring that individuals who commit heinous acts of violence and fraud are held accountable, regardless of where those crimes were committed,” said Special Agent in Charge Michael J. Krol of U.S. Immigration and Customs Enforcement Homeland Security Investigations (HSI) New England. “Jean Morose Viliena’s actions were not only a gross violation of human rights but also a betrayal of the trust placed in him by his community. HSI will continue to work tirelessly with our partners to bring justice to victims and protect the American people from foreign criminals seeking to escape justice in their home countries.”

    Viliena, 53, was the Mayor of Les Irois, Haiti, from December 2006 until February 2010. As a candidate and as mayor, Viliena was backed by Korega, a political machine that used armed violence to exert power throughout the southwestern region of Haiti. Viliena personally supervised his mayoral staff and other armed supporters aligned with Korega and directed them to engage in armed violence to quash opposition to his authority.

    According to evidence presented at trial, on July 27, 2007, Viliena violently retaliated against an activist who had previously spoken at a judicial proceeding on behalf of a neighbor whom Viliena had assaulted. In a brutal act of reprisal, that evening, Viliena led an armed group to the activist’s home, where Viliena and his associates shot and killed the activist’s younger brother and then smashed the brother’s skull with a large rock before a crowd of bystanders.

    Viliena committed another act of violent retribution in April 2008, when he and his associates attacked community members who had founded a radio station that Viliena opposed. According to multiple witnesses’ testimony, Viliena mobilized armed members of his staff and supporters to forcibly shut down the radio station and seize its broadcasting equipment. Viliena distributed firearms to his men, some of whom also carried machetes and picks. According to the evidence presented at trial, during this incident, Viliena beat one man and ordered an associate to shoot him when he tried to flee. As a result, the man’s leg was later amputated above the knee. Viliena also beat a student who was at the radio station; when the student tried to flee, a bullet struck his face, leaving him permanently blind in one eye.

    Less than two months after the radio station attack, Viliena presented himself at the U.S. Embassy Consular Office in Port au Prince, Haiti, where he applied for a visa to enter the United States. The visa application specifically requires an applicant to state whether they are a member of any class of individuals excluded from admission into the United States, including those who have “ordered, carried out or materially assisted in extrajudicial and political killings and other acts of violence against the Haitian people.” Viliena falsely responded “no,” indicating that this category did not apply to him. Viliena thereafter swore to and affirmed before a U.S. Consular Officer that the contents of the application were true and signed the application.

    Based on Viliena’s false representations, the United States approved his visa application and permitted him to enter the country. The United States later granted Viliena lawful permanent resident status and a Permanent Resident Card, also known as a “Green Card.” For years, through the use of his fraudulently obtained Green Card, Viliena enjoyed a job; sufficient income; a comfortable home; a safe community; the ability to visit his family in Les Irois at any time; and the privilege of raising and educating a son who is now a U.S. citizen by birth.

    The HSI Boston Field Office investigated the case, with coordination provided by the Human Rights Violators and War Crimes Center (HRVWCC). Established in 2009, the HRVWCC furthers the government’s efforts to identify, locate, and prosecute human rights abusers in the United States, including those who are known or suspected to have participated in persecution, war crimes, genocide, torture, extrajudicial killings, female mutilation, and the use or recruitment of child soldiers. Invaluable assistance was also provided by U.S. Customs and Border Protection from Boston Logan Airport.

    Trial Attorney Alexandra Skinnion of the Criminal Division’s Human Rights and Special Prosecutions Section (HRSP) and Assistant U.S. Attorney Laura J. Kaplan for the District of Massachusetts prosecuted the case, with assistance from HRSP Historian/Analyst Dr. Christopher Hayden.

    Members of the public who have information about former human rights violators in the United States are urged to contact U.S. law enforcement through the HSI tip line at 1-866-DHS-2-ICE or its online tip form at www.ice.gov/exec/forms/hsi-tips/tips.asp. 

    MIL Security OSI –

  • MIL-OSI Security: HUMAN TRAFFICKING CONSPIRACY SPANNING FLORIDA PANHANDLE AND SOUTHERN ALABAMA DISMANTLED

    Source: United States Department of Justice (Human Trafficking)

    TALLAHASSEE, FLORIDA – Kimberly Robinson Gandy, 47, of Gulfport, Mississippi, was found guilty on Wednesday afternoon, June 18, 2025, by a federal jury, of: Conspiracy to Commit Sex Trafficking by Force, Fraud, or Coercion; Sex Trafficking by Force, Fraud, or Coercion; and Money Laundering. Her codefendant, Chad Cornelius Seymore, 49, of Dothan, Alabama, pled as charged, on Monday, June 9, 2025, immediately prior to the scheduled trial, to: Conspiracy to Commit Sex Trafficking by Force, Fraud, or Coercion; Sex Trafficking by Force, Fraud, or Coercion; Receiving Benefits From Sex Trafficking; Interstate Travel In Aid of Racketeering; and Money Laundering. The guilty plea and verdict were announced by John P. Heekin, United States Attorney for the Northern District of Florida.

    U.S. Attorney Heekin said: “Thanks to the tireless efforts of our local, state, and federal law enforcement partners who investigated this case, and the tenacious work of the federal prosecutors and support staff in my office, we have dismantled this sex trafficking conspiracy and obtained justice on behalf of its victims.  My office is committed to fulfilling the promise of President Donald J. Trump and Attorney General Pam Bondi to aggressively prosecute those who prey upon and profit from human trafficking victims. This outcome is a testament to the outstanding collaborative work of the Capital City Human Trafficking Task Force.”

    Court documents reflect that over a four-year period Seymore conspired with others to bond adult women out of county jail and then force them to commit commercial sex acts in Alabama and North Florida. Seymore recruited women suffering from drug addictions at hotels and through online advertisements. He threatened and physically abused his sex trafficking victims.  Gandy conspired with Seymore to traffic women in Panama City Beach and Destin. They used online money exchange platforms to transfer funds received from commercial sex acts.  

    Sentencing for Chad Seymore is scheduled for August 15, 2025, at 2:00 p.m.  Kim Gandy will be sentenced on September 15, 2025, at 1:30 p.m.   The defendants will be sentenced at the United States Courthouse in Tallahassee before Chief United States District Judge Alan C. Winsor.

    The convictions were the result of a joint investigation by the Leon County Sheriff’s Office, Homeland Security Investigations, the Federal Bureau of Investigation, the Dothan, Alabama Police Department, the Panama City Beach Police Department, the Panama City Police Department, with assistance from the United States Marshal’s Service, the Bay County Sheriff’s Office, the Manatee County Sheriff’s Office, the Wakulla County Sheriff’s Office, the Walton County Sheriff’s Office, and the United States Attorney’s Office for the Middle District of Alabama. The case is being prosecuted by First Assistant United States Attorney Michelle Spaven.

    This case is part of Operation Take Back America (https://www.justice.gov/dag/media/1393746/dl?inline ) a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

    The United States Attorney’s Office for the Northern District of Florida is one of 94 offices that serve as the nation’s principal litigators under the direction of the Attorney General.  To access public court documents online, please visit the U.S. District Court for the Northern District of Florida website. For more information about the United States Attorney’s Office, Northern District of Florida, visit http://www.justice.gov/usao/fln/index.html.

    MIL Security OSI –

  • MIL-OSI Security: HUMAN TRAFFICKING CONSPIRACY SPANNING FLORIDA PANHANDLE AND SOUTHERN ALABAMA DISMANTLED

    Source: United States Department of Justice (Human Trafficking)

    TALLAHASSEE, FLORIDA – Kimberly Robinson Gandy, 47, of Gulfport, Mississippi, was found guilty on Wednesday afternoon, June 18, 2025, by a federal jury, of: Conspiracy to Commit Sex Trafficking by Force, Fraud, or Coercion; Sex Trafficking by Force, Fraud, or Coercion; and Money Laundering. Her codefendant, Chad Cornelius Seymore, 49, of Dothan, Alabama, pled as charged, on Monday, June 9, 2025, immediately prior to the scheduled trial, to: Conspiracy to Commit Sex Trafficking by Force, Fraud, or Coercion; Sex Trafficking by Force, Fraud, or Coercion; Receiving Benefits From Sex Trafficking; Interstate Travel In Aid of Racketeering; and Money Laundering. The guilty plea and verdict were announced by John P. Heekin, United States Attorney for the Northern District of Florida.

    U.S. Attorney Heekin said: “Thanks to the tireless efforts of our local, state, and federal law enforcement partners who investigated this case, and the tenacious work of the federal prosecutors and support staff in my office, we have dismantled this sex trafficking conspiracy and obtained justice on behalf of its victims.  My office is committed to fulfilling the promise of President Donald J. Trump and Attorney General Pam Bondi to aggressively prosecute those who prey upon and profit from human trafficking victims. This outcome is a testament to the outstanding collaborative work of the Capital City Human Trafficking Task Force.”

    Court documents reflect that over a four-year period Seymore conspired with others to bond adult women out of county jail and then force them to commit commercial sex acts in Alabama and North Florida. Seymore recruited women suffering from drug addictions at hotels and through online advertisements. He threatened and physically abused his sex trafficking victims.  Gandy conspired with Seymore to traffic women in Panama City Beach and Destin. They used online money exchange platforms to transfer funds received from commercial sex acts.  

    Sentencing for Chad Seymore is scheduled for August 15, 2025, at 2:00 p.m.  Kim Gandy will be sentenced on September 15, 2025, at 1:30 p.m.   The defendants will be sentenced at the United States Courthouse in Tallahassee before Chief United States District Judge Alan C. Winsor.

    The convictions were the result of a joint investigation by the Leon County Sheriff’s Office, Homeland Security Investigations, the Federal Bureau of Investigation, the Dothan, Alabama Police Department, the Panama City Beach Police Department, the Panama City Police Department, with assistance from the United States Marshal’s Service, the Bay County Sheriff’s Office, the Manatee County Sheriff’s Office, the Wakulla County Sheriff’s Office, the Walton County Sheriff’s Office, and the United States Attorney’s Office for the Middle District of Alabama. The case is being prosecuted by First Assistant United States Attorney Michelle Spaven.

    This case is part of Operation Take Back America (https://www.justice.gov/dag/media/1393746/dl?inline ) a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

    The United States Attorney’s Office for the Northern District of Florida is one of 94 offices that serve as the nation’s principal litigators under the direction of the Attorney General.  To access public court documents online, please visit the U.S. District Court for the Northern District of Florida website. For more information about the United States Attorney’s Office, Northern District of Florida, visit http://www.justice.gov/usao/fln/index.html.

    MIL Security OSI –

  • MIL-OSI Security: Nearly 2 dozen charged in large drug and money laundering operation spanning multiple jurisdictions

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    Operations Red Ranger, Borrowed Time, and Resurrection lead to seizure of drugs and millions in illicit proceeds

    HOUSTON – A total of 23 people are now in custody for various drug trafficking, firearms and money laundering charges following major law enforcement operations in Houston/Galveston and Rio Grande Valley areas of Texas this week, announced U.S. Attorney Nicholas J. Ganjei.

    Some of those arrested have already begun to make their appearances U.S. Magistrate Judges Christina Bryan in Houston, Andrew Edison in Galveston and Nadia Medrano in McAllen. Others are in state custody on related charges and expected in federal court in the near future. 

    Grand juries in Houston and McAllen returned the five separate, but related indictments in May. The charges allege crimes that occurred as early as January 2023 for some and between May 2024 and December 2024 for others and involve cocaine, heroin and methamphetamine trafficking, firearms-related offenses and money laundering.

    The charges allege some of the individuals were truck drivers delivering drugs north. According to information presented to the court, 10 kilograms of cocaine had been taken to Georgia and money returned to pay drivers and other expenses.

    The arrests are the culmination of multiple months-long Organized Crime Drug Enforcement Task Forces (OCDETF) investigations dubbed Operation Red Ranger, Borrowed Time and Resurrection. During the investigation and operations, law enforcement also seized over 170 kilograms of cocaine and heroin, over two thousand kilograms methamphetamine, more than 100 firearms and nearly $3 million as well as four properties valued at $1.2 million.

    If convicted, many charged with drug trafficking offenses face up to life in federal prison and could pay millions in fines. Those charged with money laundering offenses face up to 20 years, while the firearms convictions carry up to 10 or 15 years in federal prison.

    The Drug Enforcement Administration, Immigration and Customs Enforcement – Homeland Security Investigations and Bureau of Alcohol, Tobacco, Firearms and Explosives conducted the OCDETF operations with the assistance of U.S. Marshals Service; Texas Department of Public Safety; sheriff’s offices in Fort Bend, Galveston, Chambers, Hidalgo, Harris and Kleberg counties; Texas Attorney General’s Office – Money Laundering Unit; West Tennessee Drug Task Force and police departments in Houston, Katy and Galveston as well as Houston and South Texas High Intensity Drug Trafficking Area programs. 

    Assistant U.S. Attorneys Leo J. Leo III, Patricia Cook Profit, Michael Day and Roberto Lopez are prosecuting the cases.

    This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s OCDETF and Project Safe Neighborhood.

    An indictment is a formal accusation of criminal conduct, not evidence. A defendant is presumed innocent unless convicted through due process of law. 

    MIL Security OSI –

  • MIL-OSI Security: U.S. Attorney’s Office Filed 116 Border-Related Cases the Week of June 13

    Source: US FBI

    SAN DIEGO – Federal prosecutors in the Southern District of California filed 116 border-related cases this week, including charges of bringing in aliens for financial gain, reentering the U.S. after deportation, and importation of controlled substances.

    The U.S. Attorney’s Office for the Southern District of California is the fourth-busiest federal district, largely due to a high volume of border-related crimes. This district, encompassing San Diego and Imperial counties, shares a 140-mile border with Mexico. It includes the San Ysidro Port of Entry, the world’s busiest land border crossing, connecting San Diego (America’s eighth largest city) and Tijuana (Mexico’s second largest city).

    In addition to reactive border-related crimes, the Southern District of California also prosecutes a significant number of proactive cases related to terrorism, organized crime, drugs, white-collar fraud, violent crime, cybercrime, human trafficking and national security. Recent developments in those and other significant areas of prosecution can be found here.

    A sample of border-related arrests this week:

    • On June 9, Alejandro Garcia Rivera and Angel Bel Tran Zamora, both Mexican citizens, were arrested and charged with Attempted Bringing in Aliens for Financial Gain and Aiding and Abetting after they were intercepted by the U.S. Coast guard off Point Loma as alleged captains of a smuggling boat; Gerardo Bejarano-Velazquez – who was also aboard the boat and had been previously deported to Mexico in 2018 in Nogales, Arizona – was arrested and charged with Attempted Entry After Deportation. Two other passengers were being held as material witnesses.
    • On June 10, 2025, Jose Pablo Lopez Lopez, a Mexican citizen, was arrested and charged with Importation of a Controlled Substance. According to a complaint, when the defendant attempted to cross the border in his vehicle at the Tecate Port of Entry, Customs and Border Protection Officers found 113 packages containing 122 pounds of methamphetamine concealed in the door panels, spare tire, firewall and passenger seats.
    • On June 10, Juan Moreno Morales, a Mexican citizen, was arrested and charged with Attempted Entry after Deportation. According to a complaint, he tried to enter the U.S. at the San Ysidro Port of Entry aboard an ambulance. The defendant eventually admitted to using a bogus medical emergency as a scheme to enter the United States illegally. Moreno Morales was previously removed from the United States in 2000 and 2023.

    Also recently, a number of defendants with criminal records were convicted by a jury or sentenced for border-related crimes such as illegally re-entering the U.S. after previous deportation. Here are a few of those cases:

    • On June 9, Reymond Arias Valdez, a national of the Dominican Republic, who has multiple felony convictions for narcotics distribution in Massachusetts, was sentenced in federal court to 18 months in custody for illegally entering the U.S. In addition, Arias-Valdez has a previous felony unlawful reentry of a deported alien conviction from 2020.
    • On June 13, Carlos Fernando Gallegos-Camacho, a Mexican national who was previously convicted of being a deported alien found in the United States in 2022 and 2010, was sentenced in federal court to nine months in custody for again reentering the U.S. illegally.
    • On June 13, 2025, Monica Valdivia Ramirez, a Mexican national, was sentenced to 56 months in prison for importation of over 86,000 fentanyl pills into the United States, with an estimated street value of more than $800,000. She was found guilty by a federal jury in February.
    • On June 13, 2025, Francisco Luevano-Casillas – a Mexican national who was previously convicted of felony cocaine trafficking – was sentenced in federal court to 15 months in custody for illegally reentering the U.S. after deportation in May 2008. For the 2008 drug offense, Luevano-Casillas was sentenced to 96 months in prison.

    Pursuant to the Department’s Operation Take Back America priorities, federal law enforcement has focused immigration prosecutions on undocumented aliens who are engaged in criminal activity in the U.S., including those who commit drug and firearms crimes, who have serious criminal records, or who have active warrants for their arrest. Federal authorities have also been prioritizing investigations and prosecutions against drug, firearm, and human smugglers and those who endanger and threaten the safety of our communities and the law enforcement officers who protect the community.

    The immigration cases were referred or supported by federal law enforcement partners, including Homeland Security Investigations (HSI), Immigration and Customs Enforcement’s Enforcement and Removal Operations (ICE ERO), Customs and Border Protection, U.S. Border Patrol, the Drug Enforcement Administration (DEA), the Federal Bureau of Investigation (FBI), the U.S. Marshals Service (USMS), and the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), with the support and assistance of state and local law enforcement partners.

    Indictments and criminal complaints are merely allegations and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI –

  • MIL-OSI Security: Largest Ever Seizure of Funds Related to Crypto Confidence Scams

    Source: US FBI

    United States Files Civil Forfeiture Complaint Against $225 Million in Funds Involved in Cryptocurrency Investment Fraud Money Laundering

                WASHINGTON – The U.S. Attorney’s Office filed a civil forfeiture complaint in U.S. District Court for the District of Columbia against more than $225.3 million in cryptocurrency. According to the complaint, the U.S. Secret Service and the FBI used blockchain analysis and other investigative techniques to determine that the cryptocurrency is connected to the theft and laundering of funds from victims of cryptocurrency investment fraud schemes, commonly referred to as cryptocurrency confidence scams.

                The civil action was announced by U.S. Attorney Jeanine Ferris Pirro, Matthew R. Galeotti, Head of the Justice Department’s Criminal Division, U.S. Secret Service Special Agent in Charge Shawn Bradstreet of the San Francisco Field Office, and FBI Special Agent in Charge Sanjay Virmani of the San Francisco Field Office.

                The complaint alleges that the cryptocurrency addresses that held the over $225.3 million in cryptocurrency were part of a sophisticated blockchain-based money laundering network that executed hundreds of thousands of transactions and was used to conceal the nature, source, control, and ownership of proceeds derived from cryptocurrency investment fraud. The scam operators dispersed proceeds across an extensive group of cryptocurrency addresses and accounts on the blockchain to conceal the source of the illicitly obtained funds.

                As part of the investigation of the laundering network, dozens of victims across the country were confirmed to have lost funds through the belief that they were making legitimate cryptocurrency investments, with more than 400 suspected victims around the world. The complaint discussed millions of dollars in victim losses.

                “Under my leadership, with the support of President Trump and Attorney General Bondi, the U.S. Attorney’s office for the District of Columbia is taking a leading role in the fight against crypto-confidence scams, partnering with law enforcement throughout the country to seize and forfeit stolen funds and rip them from the hands of foreign criminals, all with the eye toward making victims whole,” said U.S. Attorney Pirro.

                “Today’s civil forfeiture complaint is the latest action taken by the Department to protect the American public from fraudsters specializing in cryptocurrency-based scams, and it will not be the last,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “These schemes harm American victims, costing them billions of dollars every year, and undermine faith in the cryptocurrency ecosystem. Our investigators and prosecutors are relentlessly pursuing these scammers and their ill-gotten gains, and we will relentlessly pursue recovery of victim funds.”

                “This seizure of $225.3 million in funds linked to cryptocurrency investment scams marks the largest cryptocurrency seizure in U.S. Secret Service history,” said Special Agent in Charge Shawn Bradstreet of the U.S. Secret Service’s San Francisco Field Office. “These scams prey on trust, often resulting in extreme financial hardship for the victims. The U.S. Secret Service, FBI, and our private partners worked diligently to trace these illicit transactions, identify victims and seize these funds so that they can eventually be returned to their rightful owners.”

                “Cryptocurrency investment schemes can have devastating and long-lasting consequences for victims, far beyond just financial losses,” said FBI Special Agent in Charge Sanjay Virmani of the San Francisco Field Office. “In this case, hundreds of victims lost millions of dollars to an elaborate scheme, and I commend the work of the FBI San Francisco investigative team and the United States Secret Service, San Francisco Office who worked tirelessly to return stolen assets to the victims. The FBI continues to aggressively pursue the criminals behind these heartless frauds, working alongside our federal partners and the private sector to disrupt malicious networks and recover funds for those targeted.”  

                According to the FBI Internet Crime Complaint Center’s 2024 Internet Crime Report, cryptocurrency investment fraud caused more than $5.8 billion in reported losses in 2024 alone.

                This investigation is being handled by the U.S. Secret Service San Francisco Field Office and the FBI San Francisco Field Office. The Department of Justice thanks Tether for its proactive assistance in this investigation.

                This case is being handled by Assistant U.S. Attorneys Kevin Rosenberg and Rick Blaylock, Jr., of the U.S. Attorney’s Office for the District of Columbia, and Trial Attorneys Stefanie Schwartz and Ethan Cantor of the Justice Department’s Computer Crime & Intellectual Property Section (CCIPS).

                Members of the public who believe they are victims of cryptocurrency investment fraud and other cyber-enabled crime should contact the FBI Internet Crime Complaint Center at https://www.ic3.gov. If you believe you may be a victim of one of the scams alleged in the government’s complaint, add the code “BT06182025” in the narrative of your complaint, and if you have previously filed a related complaint, make note of the prior complaint in the narrative.

    MIL Security OSI –

  • MIL-OSI Security: Waterbury Woman Pleads Guilty, Admits Multiple Fraud Schemes

    Source: US FBI

    David X. Sullivan, United States Attorney for the District of Connecticut, announced that MARLENIN VITO, 46, of Waterbury, pleaded guilty today in New Haven federal court to an offense stemming from multiple fraud schemes.

    According to court documents and statements made in court, Vito was employed as Medicaid Coordinator at an assisted living facility (“Company A”) located in Stamford.  Vito’s responsibilities included assisting the residents in applying for nursing home level Medicaid reimbursements, monitoring the residents’ patient trust accounts, and ensuring compliance with Medicaid regulations.  She was also responsible for keeping journal entries for the residents’ trust accounts and to credit their accounts when funds were received, and for debiting patient accounts when payments were made on behalf of the residents or when cash was given to residents for incidental expenses.

    Between approximately December 2019 and May 2021, Vito defrauded Company A and its residents by generating checks from Company A’s system, forging a fellow employee’s signature on the checks, negotiating the fraudulent checks purportedly to give the cash proceeds to certain residents, and keeping the cash for her own use.  Vito then made false entries into Company A’s accounting ledger by debiting the fraudulently obtained cash from the residents’ respective trust accounts.  Many of the residents were not healthy enough or mentally capable of tracking their own expenses or monitoring the balances of their own trust accounts.

    In certain instances, Vito cancelled residents’ supplemental health insurance coverage, but continued to deduct funds from the trust accounts and took the funds for herself.  Also, when certain residents’ trust accounts were credited with Economic Impact Payments (“COVID-19 stimulus payments”), Vito took the funds for herself and then debited the residents’ accounts at a rate of approximately $60 a day until the stimulus funds were depleted.

    During the scheme, Vito fraudulently negotiated approximately 500 checks, stealing approximately $310,820.  When she was confronted by family members of certain residents, Vito created and provided to those family members false account statements that misrepresented the balances in the residents’ trust accounts.

    After she was terminated by Company A, Vito obtained employment as a bookkeeper and scheduler at an alarm company (“Company B”) located in White Plains, New York.  Vito stole from the company by making false representations about overtime for herself and her daughter, and by using company funds to order more than $10,000 worth of products to be delivered to her Waterbury residence.  Company B was defrauded of approximately $23,558 through these schemes.

    After she was terminated by Company B, Vito was employed as a bookkeeper at a law firm in Hartford (“Company C”).  Vito took fraudulently generated checks drawn on Company C’s bank account and issued as “Pay to the Order of ‘Petty Cash, ’” forged the signature of an authorized employee on the checks, cashed the checks, and kept the funds for herself.  She then recorded the fraudulently negotiated checks in Company C’s books and records as “Petty Cash.”  Vito stole approximately $27,179 from Company C.

    Vito pleaded guilty to one count of wire fraud, an offense that carries a maximum term of imprisonment of 20 years.  She is scheduled to be sentenced on September 10.

    Vito is released on a $25,000 bond pending sentencing.

    This investigation is being conducted by the Federal Bureau of Investigation, with the assistance of the Stamford Police Department, Hartford Police Department, Ridgefield Police Department, and the Putnam County (N.Y.) Sheriff’s Office.  The case is being prosecuted by Assistant U.S. Attorneys Michael S. McGarry and Nathan J. Guevremont.

    MIL Security OSI –

  • MIL-OSI Security: Previously Convicted Sex Offender Sentenced to 45 Years in Federal Prison for Exploiting Minors via Snapchat

    Source: US FBI

    INDIANAPOLIS— Darren Ringenberg, 30, of Louisville, Kentucky, a registered sex offender, was sentenced to 45 years in federal prison, followed by ten years of supervised release, after being convicted of two counts of sexual exploitation of a child while required to register as a sex offender.

    According to court documents, in 2019, Ringenberg was previously convicted in Kentucky of twenty counts of Possession of Matter Portraying a Sexual Performance by a Minor and was required to register as a sex offender for life.

    Then, after his release from the Kentucky offense, in June 2023, Ringenberg, using the Snapchat username “devil_hell6969,” communicated with a nine-year old girl living in Monroe County, Indiana and coerced her to send sexually explicit images and videos, threatening to hack into her social media accounts and remove all her friends if she did not comply. Ringenberg directed her as to what images to send, how to take the photos and told her that they could meet in person in the future. He also falsely claimed to be sixteen years old and would screen-record and save many of the images and conversations without the child’s knowledge.

    After receiving a tip about his illicit behavior online, law enforcement conducted judicially authorized searches of both Ringenberg’s Snapchat account and his residence in Louisville. Investigators found text messages, many of which were sexual in nature, between Ringenberg and various other unidentified minors, including the nine-year-old girl. Also located on his cell phone camera roll were many Snapchat screen recordings of minor victims engaged in sexually explicit conduct.

    “Sex offenders often use manipulation and threats to sexually exploit children with utter disregard for the lasting trauma they inflict. I urge parents and guardians to talk to the children in their lives about what they’re doing online and make sure they have trusted adults they can turn to for help,” said John E. Childress, Acting United States Attorney for the Southern District of Indiana. “I commend the FBI and the Bloomington Police Department for their work to seek justice for this victim and protect other children from this online predator.”

    “This case is a tragic reminder that with today’s technology, predators can reach across state lines with a few clicks. While the distance didn’t help protect this child from harm, it did not stop the offender from being brought to justice,” said FBI Indianapolis Special Agent in Charge Timothy J. O’Malley. “The FBI and our law enforcement partners remain committed to protecting children and holding offenders accountable – no matter where they are.”

    The FBI and Bloomington Police Department investigated this case. The sentence was imposed by Chief U.S. District Judge Tanya Walton Pratt.

    Acting U.S. Attorney Childress thanked Assistant U.S. Attorney MaryAnn T. Mindrum, who prosecuted this case.

    This case was brought as part of Project Safe Childhood, a nationwide initiative launched in May 2006 by the Department of Justice to combat the growing epidemic of child sexual exploitation and abuse. Led by U.S. Attorneys’ Offices and the Child Exploitation and Obscenity Section, Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend and prosecute individuals who exploit children via the internet, as well as to identify and rescue victims.

    If you are a victim of child sexual exploitation, please contact your local police department. Resources for victims of child exploitation can be found on our website at https://www.justice.gov/usao-sdin/project-safe-childhood

    ###

    MIL Security OSI –

  • MIL-OSI Russia: HSE at SPIEF: Investments in Electric Power, the Role of Women in the Economy, and the “Russian Engineer”

    Translation. Region: Russian Federal

    Source: State University Higher School of Economics – State University Higher School of Economics –

    © Roman Kitashov / Roscongress Foundation

    Should we increase electricity generation and what should be the role of the state here? What economic effect does involving women in the economy provide? How can we train personnel to ensure technological leadership? HSE representatives, together with other experts, sought answers to these and other questions at the St. Petersburg International Economic Forum. In addition, HSE signed a number of cooperation agreements.

    Blood for the economy

    Investments in the electric power industry have a significant multiplier effect on the economy, they contribute to the development of regions and related industries, believes Ilya Dolmatov, Director Institute of Economics and Regulation of Infrastructure Industries HSE. However, against the backdrop of increased availability of electricity, the volume of investment in this area has decreased, he noted, speaking at the session “Investments in the Electric Power Industry on the Horizon up to 2050.”

    Meanwhile, today the economy is transforming, many industries are digitalizing and, in fact, deeper electrification is taking place. “In this sense, we can definitely say that if we do not provide investments for the growth of new capacities, we will face the fact that the economy will not grow. We already see that we have to introduce certain restrictions on electricity consumption, connecting new consumers,” says Ilya Dolmatov. At the same time, in the current macroeconomic realities, the expert believes, it is impossible to do without state support, especially in infrastructure. “The state must determine priority projects and, accordingly, measures to support them,” he believes.

    “Russia is currently one of the top four countries in terms of electricity consumption,” said Deputy Minister of Energy of the Russian Federation Petr Konyushenko. The department expects electricity consumption to grow by about a third of the current level by 2050. To cover the projected growth, it is planned to increase generating capacity, and a number of large construction projects in the electric grid economy will be launched in the near future. These are global federal projects to connect the East with Siberia, to build a direct current line that will connect the Novovoronezh nuclear power plant with Moscow, and a power transmission line from Krasnoyarsk Krai to Buryatia.

    The tasks of industry, in turn, are to help power engineers solve their problems, noted Deputy Minister of Industry and Trade Mikhail Ivanov. Over the course of 10 years, demand for power engineering has grown threefold, and the capabilities of our production have grown fourfold, he shared the figures. But it is still necessary to correctly “balance the capabilities of engineering with the modernization of electric power facilities.”

    The head of Yakutia, Aisen Nikolaev, noted that “everyone needs energy, it is like lifeblood for the economy.” But, according to him, companies all unanimously say that without state support, it is simply impossible to implement energy investment projects as desired. “We also need support from development institutions, which are much talked about. This is preferential lending first and foremost, especially in our conditions. These are direct government investments, these are tax breaks, which have already been discussed today. Well, and balanced tariff regulation,” the speaker noted.

    The session was also attended by Pavel Snikkars, CEO of PJSC T Plus, Alexandra Panina, member of the board of PJSC Inter RAO, Kirill Komarov, First Deputy CEO, Director of the Development and International Business Block of Rosatom, Alexey Molsky, member of the board, Deputy CEO for Investments and Capital Construction of PJSC Rosseti, Eldar Muslimov, First Deputy CEO of MKOOO EN HOLDING, and bank representatives.

    Ilya Dolmatov signed an agreement between the HSE and Rosvodokanal at the SPIEF. The parties agreed to develop cooperation in the field of training and retraining of personnel, research and development, and technology implementation activities. On behalf of Rosvodokanal, the signature was made by the company’s CEO Sergey Krzhanovsky.

    International Women’s Cooperation

    Victoria Panova, Vice-Rector of the National Research University Higher School of Economics, Head of BRICS Expert Council – Russia, Russia’s Sherpa in the Women’s Twenty, took part in the session of the Eurasian Women’s Forum “International Cooperation of Women in the Interests of Economic Development” within the framework of the SPIEF.

    According to Victoria Panova, scientific research has shown that more active involvement of women in employment can add about 7 trillion dollars to the global GDP in the coming decades. More active participation of women in the economy and development of female education will also contribute to the growth of labor productivity by 35%. “Women are more likely to reinvest income from entrepreneurial activity in health care, food security and education, which increases the sustainability of the country’s development and ensures stability and overall prosperity,” said Victoria Panova.

    The Vice-Rector also stressed the importance of strengthening expert and scientific interaction among women researchers. She proposed creating a regularly updated depository of measures to expand the legal and economic opportunities of women in the association countries in BRICS.

    Priority is technological leadership

    HSE Vice-Rector Dmitry Zemtsov moderated the session “Training Personnel to Ensure Russia’s Technological Sovereignty” at the Ministry of Education and Science stand.

    Deputy Minister of Science and Higher Education of the Russian Federation, graduate of the Master’s program “Management in Higher Education» Olga Petrova of the Higher School of Economics spoke about synchronizing personnel training with business demands and solving the problem of achieving technological leadership. One of the key projects was the Advanced Engineering Schools project. “The project has become a powerful tool for synchronizing efforts so that the very “Russian engineer” in the broad sense emerges from the walls of the university,” said Olga Petrova. According to her, another flagship program for personnel training, Priority 2030, of which the HSE is a participant, has been reconfigured for technological leadership.

    The session featured the following speakers: Rector of Peter the Great St. Petersburg Polytechnic University Andrey Rudskoy, Rector of MEPhI Vladimir Shevchenko and other speakers.

    The topic of what specialists will be in demand on the global market was also discussed at the session “Preparing Personnel for the International Market of the Future.” Its moderator was Irina Karelina, Vice President of the National Research University Higher School of Economics.

    The Russian Ministry of Education and Science stand also hosted a session entitled “The Rights of Young Scientists to Their Developments: How Not to Drown in Bureaucracy?” The director of the Institute for Enterprise and Market Analysis HSE University Anton Kazun. In particular, he spoke about the experience of transforming the results of fundamental research into applied projects (using the example of the recommendation system for selecting lawyers “Zastupnik”) and the possibilities of developing a model of technology transfer centers in various universities of the Russian Federation (based on the experience of HSE University), including regular exchange of experience between universities (for example, within the framework of the “Priority-2030” program). Anton Kazun also took part in the discussion of the proposal to legislatively enshrine the exemption from VAT when implementing the rights to use all types of RIAs, exclusive rights to which are held by universities.

    Dmitry Zemtsov also signed a number of agreements concluded by the HSE within the framework of the St. Petersburg International Economic Forum.

    An agreement was reached with the Russian State University for the Humanities on joint scientific research related to historical and cultural identity, traditional values, preservation of cultural heritage, as well as on holding scientific events and student expeditions within the framework of the project “Rediscovering Russia”. In addition, the plans include formulating proposals for socio-economic development that will be included in youth policy programs in Russia. The documents were signed by Rector of the Russian State University for the Humanities Andrey Loginov and Dmitry Zemtsov.

    Cooperation agreements were also signed between the ANO “University of Entrepreneurs” and universities participating in the program, including the National Research University Higher School of Economics. The parties agreed to create and develop entrepreneurial workshops, where more than 350 senior students will begin developing at least 50 business projects as early as 2025.

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

    MIL OSI Russia News –

  • MIL-OSI USA: ICE and federal partners arrest 17 illegal aliens during worksite inspection in Bethlehem, Pa.

    Source: US Immigration and Customs Enforcement

    BETHLEHEM, Pa. – On June 11, 2025, U.S. Immigration and Customs Enforcement’s Homeland Security Investigations Philadelphia Allentown office and federal law enforcement partners, served a Notice of Inspection at the Five 10 Flats apartment complex, 510 East 3rd Street, Bethlehem, Pennsylvania. During the inspection, 17 illegal aliens who were working at the property were encountered and administratively arrested for immigration violations. Those arrested included 13 citizens of Venezuela, two citizens of Mexico, one citizen of Ecuador and one citizen of Nicaragua.

    “Ensuring worksite compliance is a fundamental responsibility of Homeland Security Investigations,” said Special Agent in Charge of HSI Philadelphia Edward V. Owens. “Our commitment to safeguarding public safety, national security, and economic stability is unwavering. Inspections like these are critical in targeting illegal employment practices that undermine American workers, destabilize labor markets, and expose our critical infrastructure to exploitation.”

    This location is currently under restoration, with workers provided by a subcontractor, and not occupied by any tenants.

    Participating law enforcement partners included Enforcement and Removal Operations Philadelphia; Bureau of Alcohol, Tobacco, Firearms and Explosives Allentown; Drug Enforcement Administration Allentown; Internal Revenue Service, and the Federal Bureau of Investigations.

    ICE is tasked with enforcing the business community’s compliance with federal employment eligibility requirements and conducts comprehensive worksite enforcement initiatives targeting employers who violate employment laws. During these operations, any alien determined to be in violation of U.S. Immigration laws may be subject to arrest, detention, and, if removable by final order, removal from the United States.

    Members of the public with information about suspected immigration violations or related criminal activity are encouraged to contact the ICE Tip Line at 866-DHS-2-ICE (866-347-2423) or submit information online via the ICE Tip Form.

    MIL OSI USA News –

  • MIL-OSI: Apollo Commits to £4.5 Billion Financing for Électricité de France, Marking the Largest Sterling-Denominated Private Credit Transaction

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 20, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Apollo-managed affiliates, funds, and strategic accounts have signed an agreement to invest up to £4.5 billion in fixed-rate callable notes issued by Électricité de France (“EDF”) pursuant to its €50 billion Euro Medium Term Note (“EMTN”) program. Proceeds from the financing will be used primarily to finance EDF projects in the United Kingdom, most notably the Hinkley Point C nuclear power station. This transaction represents one of the largest sterling-denominated note issuances on record.

    Apollo Partner Jamshid Ehsani said, “Apollo is pleased to provide this bespoke, large-scale financing to EDF in support of its vital role in advancing European energy sovereignty and power infrastructure, including in the UK.”

    Ehsani continued, “This landmark transaction highlights our deepening partnership with the French government and EDF and reaffirms our commitment to being a premier capital provider to leading European companies. This is the largest-ever capital funding transaction executed by EDF and the largest private credit transaction in the sterling market.”

    This investment also builds on Apollo’s longstanding history of investing in French companies for nearly three decades. Notably, Apollo has provided €2.5 billion of High-Grade Capital Solutions across three transactions to Air France-KLM in recent years.

    Since 2020, under its High-Grade Capital Solutions strategy, Apollo has originated over $100 billion of bespoke capital solutions for leading companies such as Intel, Air France-KLM, BP, Sony, AB InBev, Vonovia, and more.

    Latham & Watkins, LLP and Kirkland & Ellis LLP acted as legal counsel to Apollo while Apollo Capital Solutions Europe B.V. is providing structuring and arrangement services in connection with the transaction. BNP Paribas and Hogan Lovells, LLP acted as financial and legal advisors, respectively, to EDF.

    About Apollo
    Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2025, Apollo had approximately $785 billion of assets under management. To learn more, please visit www.apollo.com.

    Apollo Contacts

    Noah Gunn
    Global Head of Investor Relations
    Apollo Global Management, Inc.
    (212) 822-0540
    IR@apollo.com

    Joanna Rose
    Global Head of Corporate Communications
    Apollo Global Management, Inc.
    (212) 822-0491
    Communications@apollo.com / europeanmedia@apollo.com

    The MIL Network –

  • MIL-OSI: Apollo Commits to £4.5 Billion Financing for Électricité de France, Marking the Largest Sterling-Denominated Private Credit Transaction

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 20, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Apollo-managed affiliates, funds, and strategic accounts have signed an agreement to invest up to £4.5 billion in fixed-rate callable notes issued by Électricité de France (“EDF”) pursuant to its €50 billion Euro Medium Term Note (“EMTN”) program. Proceeds from the financing will be used primarily to finance EDF projects in the United Kingdom, most notably the Hinkley Point C nuclear power station. This transaction represents one of the largest sterling-denominated note issuances on record.

    Apollo Partner Jamshid Ehsani said, “Apollo is pleased to provide this bespoke, large-scale financing to EDF in support of its vital role in advancing European energy sovereignty and power infrastructure, including in the UK.”

    Ehsani continued, “This landmark transaction highlights our deepening partnership with the French government and EDF and reaffirms our commitment to being a premier capital provider to leading European companies. This is the largest-ever capital funding transaction executed by EDF and the largest private credit transaction in the sterling market.”

    This investment also builds on Apollo’s longstanding history of investing in French companies for nearly three decades. Notably, Apollo has provided €2.5 billion of High-Grade Capital Solutions across three transactions to Air France-KLM in recent years.

    Since 2020, under its High-Grade Capital Solutions strategy, Apollo has originated over $100 billion of bespoke capital solutions for leading companies such as Intel, Air France-KLM, BP, Sony, AB InBev, Vonovia, and more.

    Latham & Watkins, LLP and Kirkland & Ellis LLP acted as legal counsel to Apollo while Apollo Capital Solutions Europe B.V. is providing structuring and arrangement services in connection with the transaction. BNP Paribas and Hogan Lovells, LLP acted as financial and legal advisors, respectively, to EDF.

    About Apollo
    Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2025, Apollo had approximately $785 billion of assets under management. To learn more, please visit www.apollo.com.

    Apollo Contacts

    Noah Gunn
    Global Head of Investor Relations
    Apollo Global Management, Inc.
    (212) 822-0540
    IR@apollo.com

    Joanna Rose
    Global Head of Corporate Communications
    Apollo Global Management, Inc.
    (212) 822-0491
    Communications@apollo.com / europeanmedia@apollo.com

    The MIL Network –

  • MIL-OSI: Kvika banki hf.: Assessment of the impact of the potential implementation of CRR III

    Source: GlobeNewswire (MIL-OSI)

    Kvika banki has prepared for the upcoming implementation of Regulation (EU) No. 2024/1623 of the European Parliament and of the Council (CRR III). Based on the assumptions currently available, Kvika banki estimates that the implementation will lead to around 14% reduction in the bank’s risk-weighted exposure amount, based on data as of May 31st, 2025.

    This reduction is mainly due to changes in the risk weights of property-backed loans and calculations related to capital requirements for operational risk.

    For further information, please contact Kvika banki’s Investor Relations at fjarfestatengsl@kvika.is or by phone at +354 540 3200. 

    The MIL Network –

  • MIL-OSI: Kvika banki hf.: Assessment of the impact of the potential implementation of CRR III

    Source: GlobeNewswire (MIL-OSI)

    Kvika banki has prepared for the upcoming implementation of Regulation (EU) No. 2024/1623 of the European Parliament and of the Council (CRR III). Based on the assumptions currently available, Kvika banki estimates that the implementation will lead to around 14% reduction in the bank’s risk-weighted exposure amount, based on data as of May 31st, 2025.

    This reduction is mainly due to changes in the risk weights of property-backed loans and calculations related to capital requirements for operational risk.

    For further information, please contact Kvika banki’s Investor Relations at fjarfestatengsl@kvika.is or by phone at +354 540 3200. 

    The MIL Network –

  • MIL-OSI: Senvest Capital Inc. Announces Voting Results from its 2025 Annual Meeting of Shareholders

    Source: GlobeNewswire (MIL-OSI)

    MONTREAL, June 20, 2025 (GLOBE NEWSWIRE) — Senvest Capital Inc. (the “Corporation”) (TSX: SEC) is pleased to announce the voting results from its annual meeting of shareholders held on June 20, 2025 (the “Meeting”).

    Election of Directors

    The following six director nominees, proposed by management, were elected at the Meeting:

    Name of Nominee   Votes For   Percent   Votes Against   Percent
    Victor Mashaal   1,438,146   99.98 %   246   0.02 %
    David E. Basner   1,438,266   99.99 %   126   0.01 %
    Eileen Bermingham   1,438,266   99.99 %   126   0.01 %
    Frank Daniel   1,438,146   99.98 %   246   0.02 %
    Jeffrey Jonas   1,438,366   99.99 %   26   0.01 %
    Richard Mashaal   1,438,146   99.98 %   246   0.02 %

    Appointment of Auditors

    PricewaterhouseCoopers LLP were reappointed as the Corporation’s auditors.

    About Senvest

    Senvest and its subsidiaries have business activities in merchant banking, asset management, real estate and electronic security.

    For more information, please contact Mr. George Malikotsis, Vice President, Finance of Senvest Capital Inc., at (514) 281-8082.

    The MIL Network –

  • Amit Shah inaugurates bew MACCIA headquarters in Mumbai; highlights Maharashtra’s role in India’s economic growth

    Source: Government of India

    Source: Government of India (4)

    Union Home Minister and Minister of Cooperation Amit Shah inaugurated the newly constructed headquarters of the Maharashtra Chamber of Commerce, Industry and Agriculture (MACCIA) in Mumbai today. The event also featured a state-level cooperative industrial conference, with Maharashtra Chief Minister Devendra Fadnavis, Union Minister of State for Cooperation Murlidhar Mohol, and other dignitaries in attendance.

    Shah reflected on the enduring legacy of Seth Walchand, a pioneering industrialist whose contributions have continued to benefit Maharashtra and the nation. Shah emphasized that institutions celebrating a centenary must not only take pride in their legacy but also use the occasion for introspection and renewal.

    He remarked that in the century since MACCIA’s founding, the global and national economic landscape has undergone transformative changes. With globalization reshaping commerce, industry, and agriculture, Shah called on Chambers of Commerce across the country to adapt their methods and reassess their relevance. He urged them to engage professional institutions to align operations with the evolving economic and policymaking frameworks of both state and central governments.

    Highlighting India’s economic trajectory, Shah said that the country has emerged as the world’s fourth-largest economy, overtaking former colonial powers. He credited policy reforms and their robust implementation under Prime Minister Narendra Modi’s leadership for this significant progress, including the rising global standing of the Indian passport.

    Shah said that Maharashtra has become a symbol of India’s industrial growth, hosting the country’s financial capital and contributing 39% of India’s total Foreign Direct Investment (FDI). He cited that the state also leads in startups, tourism, income tax filings by women, and infrastructure development — including the upcoming Vadhavan Port and the bullet train project.

    Addressing the development of Mumbai and its surrounding areas, Shah revealed that the central and state governments, operating under a “double-engine” governance model, are investing over ₹7 lakh crore in transformative projects. This effort, he said, is infusing Maharashtra with new energy and fostering long-term development.

    Drawing a comparison between two decades, Shah stated that Maharashtra received ₹1.91 lakh crore in central devolution and grants between 2004 and 2014, whereas this amount increased to ₹7.82 lakh crore during the Modi government’s tenure from 2014 to 2024.

    Emphasizing the importance of cooperative federalism, Shah said that Prime Minister Modi’s vision of “Team India” is central to the nation’s development. He added that the joint efforts of the Centre and the States, along with a constructive mindset, are driving the country’s rapid progress.

    MACCIA’s role, he added, remains crucial as it continues to raise demands for policy changes, infrastructure upgrades, and solutions for issues in trade, industry, and agriculture. Shah called upon all Chambers of Commerce to evolve with the times and continue contributing meaningfully to India’s economic journey.

  • MIL-OSI Canada: Saskatchewan Leads Provinces in Retail Trade

    Source: Government of Canada regional news

    Released on June 20, 2025

    Province Ranks First for Retail Trade Growth

    Saskatchewan’s retail sector continues to grow, with a 2 per cent increase month-over-month in retail trade sales from March 2025 to April 2025 (seasonally adjusted). This places Saskatchewan first among the provinces.

    “These retail trade results show that consumer confidence in our businesses and industries remains high,” Trade and Export Development Minister Warren Kaeding said. “Every purchase made in Saskatchewan helps drive even more opportunity supporting jobs and encouraging investment, while bolstering our strong and growing economy.” 

    The total value of Saskatchewan’s retail trade reached $2.3 billion in April 2025.

    The Monthly Retail Trade Survey compiles data on sales, including e-commerce sales, and the amount of retail locations by province, territory and selected census metropolitan areas from a sample of retailers.

    Retail sales is a measure of total receipts at stores, or establishments, that sell goods and services to final consumers.

    Statistics Canada’s latest Gross Domestic Product (GDP) numbers indicate that Saskatchewan’s real GDP at basic prices reached an all-time high of $80.5 billion in 2024, increasing by $2.6 billion, or 3.4 per cent. This places Saskatchewan second in the nation for real GDP growth and above the national average of 1.6 per cent.

    Private capital investment in Saskatchewan increased last year by 17.3 per cent to $14.7 billion, ranking first among provinces. Private capital investment is projected to reach $16.2 billion in 2025, an increase of 10.1 per cent over 2024. This is the second highest anticipated percentage increase among the provinces.

    Last year, the Government of Saskatchewan unveiled its new Securing the Next Decade of Growth – Saskatchewan’s Investment Attraction Strategy. This strategy, combined with Saskatchewan’s trade and investment website, InvestSK.ca, contains helpful information for potential markets and solidifies the province as the best place to do business in Canada. 

    For more information, visit: InvestSK.ca.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI USA: AG Labrador Announces Arrest of North Idaho Man for Alleged Sexual Exploitation of a Child

    Source: US State of Idaho

    Home Newsroom AG Labrador Announces Arrest of North Idaho Man for Alleged Sexual Exploitation of a Child

    BOISE — Attorney General Raúl Labrador has announced investigators with his Idaho Internet Crimes Against Children (ICAC) Unit arrested sixty-seven-year-old Kenneth Ely on Wednesday, June 4, 2025, for alleged sexual exploitation of a child. Kenneth Ely was charged with ten counts of possession of child exploitation material.  “Protecting children from exploitation across the state is one of our most important responsibilities in the Office of the Attorney General,” said Attorney General Labrador. “We will pursue every lead and work with our law enforcement partners across North Idaho to thoroughly investigate these allegations and ensure that those who allegedly harm children are held accountable under the law.” The Latah County Sheriff’s Office, Coeur d’Alene Police Department, Kootenai County Sheriff’s Office, Federal Bureau of Investigation, Lewiston Police Department, United States Secret Service, and the Moscow Police Department assisted the Idaho ICAC Task Force in the arrest. Anyone with information regarding the exploitation of children is encouraged to contact local police, the Attorney General’s ICAC Unit at 208-947-8700, or the National Center for Missing and Exploited Children at 1-800-843-5678.  The Attorney General’s ICAC Unit works with the Idaho ICAC Task Force, a coalition of federal, state, and local law enforcement agencies, to investigate and prosecute individuals who use the internet to criminally exploit children. Parents, educators, and law enforcement officials can find more information and helpful resources at the ICAC website, ICACIdaho.org. The charges listed above are merely accusations and the defendants are presumed innocent until and unless proven guilty.

    MIL OSI USA News –

  • Union Finance Minister releases fifth edition of National Time Release Study (NTRS) 2025

    Source: Government of India

    Source: Government of India (4)

    Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, on Friday released the fifth edition of the National Time Release Study (NTRS) during the CBIC Conclave held in the national capital. This flagship performance measurement tool, developed by the Central Board of Indirect Taxes and Customs (CBIC), offers a quantitative assessment of the time taken for cargo release, enabling evaluation of the efficiency and effectiveness of India’s clearance processes.

    Since its inception in 2019, the Time Release Study has covered 15 key locations, including seaports, Air Cargo Complexes (ACCs), Inland Container Depots (ICDs), and Integrated Check Posts (ICPs). A distinguishing feature of India’s TRS is its use of high-quality data sourced directly from the Customs Automated System, managed by the Directorate General of Systems and Data Management.

    Over the years, the TRS has evolved in both scope and methodology. Initially limited to assessing release times at gateway ports, it now includes transit cargo, courier shipments, and commodity-specific evaluations. The fifth edition has introduced advanced stage-wise and process-specific assessments, further enhancing the granularity and reliability of its findings. Notably, this year’s edition expanded its geographical reach with the addition of Kochi Seaport, Garhi Harsaru ICD, and Jaigaon Land Customs Station (LCS).

    In terms of import performance, the study reported a decline in Average Release Time (ART) between 2023 and 2025 at several major gateways. Seaports saw a reduction of approximately six hours, ACCs by five hours, and ICPs by 18 hours. However, ICDs experienced an increase of around 12 hours. Performance against the National Trade Facilitation Action Plan (NTFAP) 3.0 targets was also evaluated. The data showed that 93.33% of import cargo at ICPs met the 48-hour release target. This was followed by air cargo complexes with 55.03% of cargo released within 24 hours, seaports at 51.76%, and ICDs at 43.70%.

    The improvement in timelines is largely attributed to the “Path to Promptness” framework, which promotes advance filing, risk management system (RMS)-based facilitation, Authorised Economic Operator (AEO) accreditation, and Direct Port Delivery (DPD). However, certain bottlenecks were identified, including delays in duty payment, query resolution, Partner Government Agency (PGA) interventions, and post-clearance logistics.

    The study also examined export cargo timelines from arrival to final departure. Air cargo complexes and ICPs demonstrated the fastest regulatory clearance times, under four hours and approximately six hours respectively. In contrast, seaports averaged nearly 30 hours for regulatory clearance, with post-Let Export Order (LEO) logistics stretching up to 158 hours. ICDs showed regulatory clearance times of about 30 hours and improved post-LEO logistics to around 100 hours.

    Facilitation levels were high across the board, ranging from 87% to 93%. The report noted that cargo characteristics played a key role in determining release times. For example, refrigerated goods moved faster through air cargo facilities, and factory-stuffed containers were cleared more quickly than those stuffed at ICDs.

  • Union Finance Minister releases fifth edition of National Time Release Study (NTRS) 2025

    Source: Government of India

    Source: Government of India (4)

    Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, on Friday released the fifth edition of the National Time Release Study (NTRS) during the CBIC Conclave held in the national capital. This flagship performance measurement tool, developed by the Central Board of Indirect Taxes and Customs (CBIC), offers a quantitative assessment of the time taken for cargo release, enabling evaluation of the efficiency and effectiveness of India’s clearance processes.

    Since its inception in 2019, the Time Release Study has covered 15 key locations, including seaports, Air Cargo Complexes (ACCs), Inland Container Depots (ICDs), and Integrated Check Posts (ICPs). A distinguishing feature of India’s TRS is its use of high-quality data sourced directly from the Customs Automated System, managed by the Directorate General of Systems and Data Management.

    Over the years, the TRS has evolved in both scope and methodology. Initially limited to assessing release times at gateway ports, it now includes transit cargo, courier shipments, and commodity-specific evaluations. The fifth edition has introduced advanced stage-wise and process-specific assessments, further enhancing the granularity and reliability of its findings. Notably, this year’s edition expanded its geographical reach with the addition of Kochi Seaport, Garhi Harsaru ICD, and Jaigaon Land Customs Station (LCS).

    In terms of import performance, the study reported a decline in Average Release Time (ART) between 2023 and 2025 at several major gateways. Seaports saw a reduction of approximately six hours, ACCs by five hours, and ICPs by 18 hours. However, ICDs experienced an increase of around 12 hours. Performance against the National Trade Facilitation Action Plan (NTFAP) 3.0 targets was also evaluated. The data showed that 93.33% of import cargo at ICPs met the 48-hour release target. This was followed by air cargo complexes with 55.03% of cargo released within 24 hours, seaports at 51.76%, and ICDs at 43.70%.

    The improvement in timelines is largely attributed to the “Path to Promptness” framework, which promotes advance filing, risk management system (RMS)-based facilitation, Authorised Economic Operator (AEO) accreditation, and Direct Port Delivery (DPD). However, certain bottlenecks were identified, including delays in duty payment, query resolution, Partner Government Agency (PGA) interventions, and post-clearance logistics.

    The study also examined export cargo timelines from arrival to final departure. Air cargo complexes and ICPs demonstrated the fastest regulatory clearance times, under four hours and approximately six hours respectively. In contrast, seaports averaged nearly 30 hours for regulatory clearance, with post-Let Export Order (LEO) logistics stretching up to 158 hours. ICDs showed regulatory clearance times of about 30 hours and improved post-LEO logistics to around 100 hours.

    Facilitation levels were high across the board, ranging from 87% to 93%. The report noted that cargo characteristics played a key role in determining release times. For example, refrigerated goods moved faster through air cargo facilities, and factory-stuffed containers were cleared more quickly than those stuffed at ICDs.

  • MIL-OSI: Shaping a New Platform for Global Growth Discussed at Open Dialogue within SPIEF-2025

    Source: GlobeNewswire (MIL-OSI)

    MOSCOW, RUSSIA, June 20, 2025 (GLOBE NEWSWIRE) — The session “Shaping a New Platform for Global Growth”, based on the results of the Open Dialogue of the Russia National Centre, opened the St. Petersburg International Economic Forum business program on June 18.

    Recognised international experts from Russia, Cameroon, Spain, Azerbaijan, and Canada, as well as authors of the best essays from the Open Dialogue, participated in the discussion.

    Speakers discussed the changing world order, Africa’s potential, and trends in the future economy, including demographic changes and the implementation of breakthrough technologies.

    “This year, the St. Petersburg International Economic Forum is taking place against turbulent world events. This includes the situation in the Middle East and trade wars. Much time will be devoted to this current agenda at the forum. We must not forget which long-term trends and challenges led to the current situation, which trends are basic and defining. It is important to conduct an open dialogue about how we build the world of the future and how to form a new platform for global growth. In which countries does this global growth occur, on which technologies will it be built, and on which principles and cultural code? Our task is to ensure that forward movement benefits people in all countries that, like Russia, are working on the future. It is through open dialogue that our future and its understanding are built,” emphasised Maxim Oreshkin.

    A speaker from Spain, Juan Antonio de Castro de Arespacochaga, a doctor of economics and professor at Complutense University of Madrid, delivered a report on how the global majority of countries are changing reality.

    “Today, most countries are not just participating in global processes – they are changing reality. We see how an increasingly flexible and multipolar world order is forming. World trade is becoming fragmented, fast, and technological, while the international system is becoming a network of preferential agreements, which distorts the principles laid down in the foundation of GATT and WTO,” noted Juan Antonio de Castro de Arespacochaga.

    One of the main discussion topics was: “Africa – driver of the future economic order.” Chairman of the African Advisory Council Francois Ndengwe noted that demographic growth is transforming Africa into the future cradle of the global workforce.

    “This is not just statistics – this is human capital that can become a new driver of global growth. Those who invest in education today and build universities in Africa will tomorrow shape markets and set the game’s rules together with Africa,” said Francois Ndengwe.

    Sergei Ivanov, Executive Director and Member of the EFKO Group board of Directors, spoke about the business’s new responsibility in the modern world. The expert emphasised that business today is not just a profit generator but an active participant in social transformations.

    “What projects and technologies should we invest in today? Investment criteria are three conditions: qualitatively improving human life, being produced in harmony with nature, and being accessible, at a minimum, having mass potential. But what’s more important is not only what you produce, but also in what culture you do it. In 2012, the president spoke words that I’ve been quoting often lately. He said that the great mission of Russians is to unite, to bind civilisation with culture, language, and universal responsiveness. And so we try to build our culture and our ethics around this very universal responsiveness. To build capitalism with a human face,” said Sergei Ivanov.

    Another session’s focus, “Shaping a New Platform for Global Growth”, was on breakthrough technologies. As noted by Yuri Kozarenko, General Director of “Transport of the Future” LLC, today, automation has reached a level where robots create robots for the production of goods and services for humans.

    “This year has become significant, showing a leap in the technological development of artificial intelligence. Several centres, schools, and institutes have been opened in China to train robots in various specialities. We in Russia, in turn, are opening robot training centres based in the Samara region and Moscow, including the Institute of Unmanned Systems. We teach robots to bring social benefit in an economically efficient way,” emphasised Yuri Kozarenko.

    The expert added that technological innovations today directly affect social spheres, for example, helping to solve the demographic crisis.

    During the session, participants also discussed the report on the results of the Open Dialogue prepared by the Centre for Cross-Industry Expertise “Third Rome.” The conclusions of the session “Shaping a New Platform for Global Growth” became the foundation for the subsequent business program of SPIEF-2025. The session “Shaping a New Platform for Global Growth” recording can be viewed on the Russia National Centre website.

    Social Links

    Telegram: https://t.me/gowithrussia

    VK: https://vk.com/gowithrussia

    OK: https://ok.ru/gowithrussia

    DZen: https://dzen.ru/gowithrussia

    Contact for the media

    Brand: Russia National Centre

    Contact: Media team

    Email: Pressa@russia.ru

    Website: https://russia.ru

    The MIL Network –

  • MIL-OSI: Shaping a New Platform for Global Growth Discussed at Open Dialogue within SPIEF-2025

    Source: GlobeNewswire (MIL-OSI)

    MOSCOW, RUSSIA, June 20, 2025 (GLOBE NEWSWIRE) — The session “Shaping a New Platform for Global Growth”, based on the results of the Open Dialogue of the Russia National Centre, opened the St. Petersburg International Economic Forum business program on June 18.

    Recognised international experts from Russia, Cameroon, Spain, Azerbaijan, and Canada, as well as authors of the best essays from the Open Dialogue, participated in the discussion.

    Speakers discussed the changing world order, Africa’s potential, and trends in the future economy, including demographic changes and the implementation of breakthrough technologies.

    “This year, the St. Petersburg International Economic Forum is taking place against turbulent world events. This includes the situation in the Middle East and trade wars. Much time will be devoted to this current agenda at the forum. We must not forget which long-term trends and challenges led to the current situation, which trends are basic and defining. It is important to conduct an open dialogue about how we build the world of the future and how to form a new platform for global growth. In which countries does this global growth occur, on which technologies will it be built, and on which principles and cultural code? Our task is to ensure that forward movement benefits people in all countries that, like Russia, are working on the future. It is through open dialogue that our future and its understanding are built,” emphasised Maxim Oreshkin.

    A speaker from Spain, Juan Antonio de Castro de Arespacochaga, a doctor of economics and professor at Complutense University of Madrid, delivered a report on how the global majority of countries are changing reality.

    “Today, most countries are not just participating in global processes – they are changing reality. We see how an increasingly flexible and multipolar world order is forming. World trade is becoming fragmented, fast, and technological, while the international system is becoming a network of preferential agreements, which distorts the principles laid down in the foundation of GATT and WTO,” noted Juan Antonio de Castro de Arespacochaga.

    One of the main discussion topics was: “Africa – driver of the future economic order.” Chairman of the African Advisory Council Francois Ndengwe noted that demographic growth is transforming Africa into the future cradle of the global workforce.

    “This is not just statistics – this is human capital that can become a new driver of global growth. Those who invest in education today and build universities in Africa will tomorrow shape markets and set the game’s rules together with Africa,” said Francois Ndengwe.

    Sergei Ivanov, Executive Director and Member of the EFKO Group board of Directors, spoke about the business’s new responsibility in the modern world. The expert emphasised that business today is not just a profit generator but an active participant in social transformations.

    “What projects and technologies should we invest in today? Investment criteria are three conditions: qualitatively improving human life, being produced in harmony with nature, and being accessible, at a minimum, having mass potential. But what’s more important is not only what you produce, but also in what culture you do it. In 2012, the president spoke words that I’ve been quoting often lately. He said that the great mission of Russians is to unite, to bind civilisation with culture, language, and universal responsiveness. And so we try to build our culture and our ethics around this very universal responsiveness. To build capitalism with a human face,” said Sergei Ivanov.

    Another session’s focus, “Shaping a New Platform for Global Growth”, was on breakthrough technologies. As noted by Yuri Kozarenko, General Director of “Transport of the Future” LLC, today, automation has reached a level where robots create robots for the production of goods and services for humans.

    “This year has become significant, showing a leap in the technological development of artificial intelligence. Several centres, schools, and institutes have been opened in China to train robots in various specialities. We in Russia, in turn, are opening robot training centres based in the Samara region and Moscow, including the Institute of Unmanned Systems. We teach robots to bring social benefit in an economically efficient way,” emphasised Yuri Kozarenko.

    The expert added that technological innovations today directly affect social spheres, for example, helping to solve the demographic crisis.

    During the session, participants also discussed the report on the results of the Open Dialogue prepared by the Centre for Cross-Industry Expertise “Third Rome.” The conclusions of the session “Shaping a New Platform for Global Growth” became the foundation for the subsequent business program of SPIEF-2025. The session “Shaping a New Platform for Global Growth” recording can be viewed on the Russia National Centre website.

    Social Links

    Telegram: https://t.me/gowithrussia

    VK: https://vk.com/gowithrussia

    OK: https://ok.ru/gowithrussia

    DZen: https://dzen.ru/gowithrussia

    Contact for the media

    Brand: Russia National Centre

    Contact: Media team

    Email: Pressa@russia.ru

    Website: https://russia.ru

    The MIL Network –

  • MIL-OSI Africa: Petralon Energy Set to Shape Conversations on Nigeria’s Oil Future at African Energy Week (AEW) 2025

    African Energy Week (AEW) 2025: Invest in African Energies is honored to welcome Ahonsi Unuigbe, Founder and CEO of Petralon Energy, as a distinguished speaker at this year’s edition in Cape Town. A driving force behind one of Nigeria’s leading indigenous upstream oil and gas companies, Unuigbe will offer valuable perspectives on the role of independent operators in Africa’s energy future, as well as the opportunities arising from sector reforms, new fiscal incentives and major IOC divestments.

    Since its founding, Petralon Energy has positioned itself at the forefront of Nigeria’s upstream sector, with a mission to create value through indigenous ownership and technical excellence. In 2025, the company continues to make significant strides at the Dawes Island Field, where drilling and completion of a new well added 2,500 barrels of oil per day to Nigeria’s daily production, directly supporting national energy security and economic growth. Petralon is also pursuing strategic offshore investments through its non-operated interests in OML 127 and OML 130, part of a broader plan to strengthen its asset portfolio amid the shifting dynamics of Nigeria’s upstream sector.

    Beyond its operational achievements, Petralon Energy is focused on long-term capacity building. The company launched its Future Leaders Program in 2024, aimed at equipping young Nigerian engineers with the technical, leadership and problem-solving skills necessary to drive the sector forward. Petralon’s strategic partnership and joint investment agreement with engineering firm Julius Berger Nigeria, announced earlier this year, further reflects its commitment to delivering infrastructure solutions that support sustainable field development and enhance project delivery.

    At AEW 2025, Unuigbe will join key discussions on how African independents can leverage new fiscal frameworks, attract investment and form partnerships that maximize the potential of both mature and frontier assets. His participation will contribute to high-level dialogue around indigenous firms’ expanding role in shaping the continent’s energy landscape.

    “Companies like Petralon Energy represent the future of Nigeria’s oil and gas sector — a future where African companies take the lead in driving production, creating jobs and delivering energy security. We are proud to welcome them at AEW 2025, where we will celebrate and support the success of local firms like Petralon that are building Africa’s energy industry from the ground up,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.

    Petralon Energy’s participation in AEW 2025 embodies the conference’s core theme of African solutions for African energy challenges, and reflects the growing leadership of indigenous companies in delivering the continent’s energy future.

    Distributed by APO Group on behalf of African Energy Chamber.

    About African Energy Week (AEW):
    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 Russia: IMF Executive Board Concludes 2025 Article IV Consultation with Fiji

    Source: IMF – News in Russian

    June 20, 2025

    Washington, DC: On June 17, 2025, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Fiji, and considered and endorsed the staff appraisal without a meeting.

    The economic recovery continued in 2024. Staff estimates aggregate GDP growth in 2024 to have reached 3.7 percent. While employment has recovered to pre-pandemic levels, investment has recently been held back by labor shortages and supply-chain challenges. Inflation decelerated though 2024 as the impact of the 2023 value-added tax increase faded and the nominal exchange rate appreciated. The public debt-to-GDP ratio has continued to decline from the peak reached in 2022, but remains elevated, at 80 percent. Likewise, the current account balance has improved, but the deficit in 2024 is estimated to be around 6.7 percent.

    Monetary and financial conditions remain accommodative, while the fiscal stance has tightened. The Reserve Bank of Fiji (RBF) has maintained the policy rate at 0.25 percent since early 2020. The fiscal stance tightened in FY2024, with the overall deficit declining from 7.2 percent of GDP in FY2023 (August-July) to 3.5 percent of GDP in FY2024, compared to a budgeted deficit of 4.8 percent of GDP.

    Executive Board Assessment

    In concluding the 2025 Article IV consultation with Fiji, Executive Directors endorsed staff’s appraisal, as follows:

    The economy has been recovering from the pandemic but is facing new setbacks. Growth is expected to fall in 2025, to about 2.6 percent, mostly because of slowing external demand, and to take a couple of years to recover to its medium-term potential rate. The baseline projection implies that public debt would remain elevated. In addition, FX reserve coverage would fall, implying that the external position remains moderately weak. Growth would be higher with successful structural reforms, or should the external environment be more favorable than assumed. But the balance of risks appears to be mostly to the downside, both in the near term, if trade tensions were to worsen or their effects be more severe than assumed in the baseline, or over the medium term, mostly given vulnerabilities to natural disasters.

     

    Fiscal and monetary policies should focus on addressing macroeconomic imbalances.

    • Fiscal policy should focus on lowering public debt while continuing with growth-friendly fiscal consolidation, oriented toward capital spending. Significant progress has been achieved in recent years, but additional adjustment measures are needed to put public debt on a clear downward path. Targeted and temporary social protection measures should be used to protect the vulnerable. Fiscal tightening would also contribute to reducing external imbalances.
    • Over the medium term, given potential pressures on the exchange rate peg, monetary conditions should be gradually tightened, raising the policy rate and reducing excess liquidity.
    • Financial policy should be attentive to emerging credit risks and to safeguard against money laundering risks.
    • The authorities should avoid using exchange rate restrictions and CFMs in place of macroeconomic adjustment and focus on a gradual, sequenced capital account liberalization to support high long-run growth objectives.

    Raising potential growth calls for sustained structural reforms.

    • Progress has been achieved in enhancing the business environment and addressing near-term constraints to growth. Immediate concerns include addressing ageing infrastructure in electricity, water, and waste utilities, and improving the transport network and digital connectivity. Ongoing concerns include training and human capital. Successful measures would also encourage more foreign investment, ease external imbalances, and reduce “brain drain.”
    • As for other Pacific states, Fiji faces ongoing challenges from natural disasters and climate change. Increasing resilience adds to the motivation to shift away from current toward capital spending.

    Such issues require sustained political consensus and good governance. The government’s recognition of the importance of institutional reform, commitment to the rule of law, and reducing corruption and bribery is welcome. Recent legislative progress will need to be matched by proper enforcement and addressing capacity constraints in the civil service.

    Fiji: Selected Economic Indicators, 2022–30

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029

    2030

    Est.

    Proj.

    Output and prices (percent change)

    Real GDP

    19.8

    7.5

    3.7

    2.6

    2.8

    3.2

    3.2

    3.2

    3.2

    GDP deflator

    2.4

    4.1

    6.3

    3.2

    3.1

    3.2

    3.3

    3.4

    3.5

    Consumer prices (average)

    4.3

    2.3

    4.5

    3.2

    3.1

    3.2

    3.3

    3.4

    3.5

    Consumer prices (end of period)

    3.1

    5.1

    1.3

    3.1

    3.2

    3.3

    3.4

    3.5

    3.5

    Central government budget on fiscal-year basis (percent of GDP)

    Revenue and Grants

    21.4

    23.2

    27.4

    27.1

    27.1

    26.8

    26.8

    26.6

    26.5

    Expenditure

    33.5

    30.3

    31.0

    31.5

    31.2

    31.0

    31.0

    30.9

    30.9

    Overall balance

    -12.1

    -7.2

    -3.5

    -4.4

    -4.2

    -4.2

    -4.2

    -4.3

    -4.4

    Primary balance

    -8.5

    -3.3

    0.5

    -0.3

    -0.3

    -0.6

    -0.6

    -0.7

    -0.8

    Central government debt 

    90.4

    83.3

    79.5

    77.7

    77.7

    77.6

    77.3

    77.0

    76.8

    Central government external debt

    33.3

    30.6

    28.7

    26.5

    26.5

    26.4

    26.1

    25.8

    25.6

    External sector (percent of GDP)

    Current account balance

    -17.3

    -7.7

    -6.7

    -7.0

    -7.7

    -7.5

    -7.2

    -6.9

    -6.9

    Trade balance

    -32.9

    -32.7

    -30.0

    -29.1

    -27.7

    -27.3

    -27.3

    -26.9

    -26.4

    Services balance

    11.8

    20.4

    20.0

    19.9

    18.4

    17.8

    17.3

    17.1

    16.5

    Primary Income balance

    -5.3

    -5.7

    -6.4

    -6.8

    -6.6

    -6.4

    -6.0

    -5.9

    -5.9

    Secondary Income balance

    9.2

    10.3

    9.6

    9.0

    8.2

    8.5

    8.8

    8.9

    9.0

    Capital account balance

    0.1

    0.1

    0.1

    0.1

    0.1

    0.1

    0.1

    0.1

    0.1

    Financial account balance (-= inflows)

    -14.0

    -4.9

    -6.6

    -4.1

    -5.3

    -5.7

    -6.9

    -6.5

    -6.5

    FDI

    -1.8

    -1.1

    -1.6

    -4.5

    -5.4

    -6.1

    -7.3

    -7.1

    -7.2

    Portfolio investment

    0.5

    1.0

    1.7

    1.7

    1.7

    1.7

    1.7

    1.7

    1.7

    Other investment

    -12.7

    -4.8

    -6.7

    -1.3

    -1.5

    -1.3

    -1.3

    -1.1

    -1.0

    Errors and omissions

    5.1

    4.2

    0.0

    0.0

    0.0

    0.0

    0.0

    0.0

    0.0

    Change in reserve assets (-=increase)

    -2.1

    0.3

    0.1

    2.9

    2.3

    1.7

    0.3

    0.3

    0.4

    Gross official reserves (in months of prospective imports)

    5.5

    5.3

    5.2

    4.4

    3.7

    3.1

    2.9

    2.6

    …

    Money and credit (percent change)

    Net domestic assets of depository corporations

    4.9

    12.1

    8.0

    6.4

    6.1

    …

    …

    …

    …

    Claims on private sector

    6.7

    7.5

    11.4

    10.0

    8.0

    …

    …

    …

    …

    Broad money (M3)

    5.1

    9.1

    6.6

    4.1

    4.1

    …

    …

    …

    …

    Monetary base

    15.8

    -4.0

    7.5

    3.6

    1.4

    …

    …

    …

    …

    Central Bank Policy rate (end of period)

    0.25

    0.25

    0.25

    …

    …

    …

    …

    …

    …

    Commercial banks deposits rate (end of period)

    0.4

    0.4

    0.3

    …

    …

    …

    …

    …

    …

    Commercial banks lending rate (end of period)

    5.2

    4.8

    4.6

    …

    …

    …

    …

    …

    …

    Memorandum items

    Exchange rate, average (FJD/USD)

    2.2

    2.3

    2.3

    …

    …

    …

    …

    …

    …

    Real effective exchange rate, average

    108.2

    106.4

    108.3

    …

    …

    …

    …

    …

    …

    GDP at current market prices (in millions of Fiji dollars)

    10,940

    12,245

    13,494

    14,286

    15,148

    16,130

    17,193

    18,342

    19,594

    GDP at current market prices (in millions of U.S. dollars)

    4,970

    5,442

    5,949

    6,257

    6,564

    6,913

    7,284

    7,674

    8,089

    GDP per capita (in U.S. dollars)

    5,450

    5,933

    6,447

    6,740

    7,030

    7,359

    7,707

    8,072

    8,508

    Sources: Reserve Bank of Fiji; Ministry of Finance; and IMF Staff Estimates and Projections.

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

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pemba Sherpa

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

    https://www.imf.org/en/News/Articles/2025/06/20/pr-25208-fiji-imf-concludes-2025-article-iv-consultation

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI USA News: Pass the One Big Beautiful Bill to Safeguard America’s Sovereignty

    Source: US Whitehouse

    President Donald J. Trump has overseen a dramatic reversal in the nation’s border security — going from 62,000 illegal immigrants released into the country in a single month under the Biden Administration to zero under the Trump Administration and achieving the lowest-ever numbers of daily illegal crossings.

    Now, we’re at a defining crossroads: pass the One Big Beautiful Bill and fortify that extraordinary progress — or don’t, and risk jeopardizing the nation’s safety and sovereignty once again.

    Pass the One Big Beautiful Bill and we will:

    • Invest in securing our homeland. We will make the largest-ever one-time investment in border security — enough to detain and deport at least one million illegals every year and massively expand detention capacity.
    • Give a boost to our frontline heroes. We will not only give the men and women of Border Patrol and ICE a $10,000/year bonus in each of the next four years, we will also deliver needed reinforcements to finish the job — with funding for 10,000 new ICE personnel, 5,000 new customs officers, and 3,000 new Border Patrol agents.
    • Finish President Trump’s border wall. We will secure full operational control of our southern border by constructing hundreds of miles of border wall, river barriers, and vehicle and pedestrian barriers — critical for repelling future foreign invasion and maintaining our national security.

    Fail to act, and we risk squandering the historic gains we’ve achieved and setting the nation back on a course of chaos and vulnerability.

    MIL OSI USA News –

  • MIL-OSI USA: Making Sense of Financial Professional Designations: Investor Bulletin

    Source: Securities and Exchange Commission

    The Securities and Exchange Commission’s (SEC) Office of Investor Education and Advocacy, the North American Securities Administrators Association (NASAA), and the Financial Industry Regulatory Authority (FINRA) are issuing this Investor Bulletin to help investors better understand the designations financial professionals use.

    MIL OSI USA News –

  • MIL-OSI Africa: Call for Entries: Africa Property Investment Awards 2025 Submit Your Applications by 30 June!

    The countdown is on for the prestigious 9th Africa Property Investment (API) Awards 2025, part of the highly anticipated API Summit themed “Growth Through Adventure” taking place on 18 and 19 September 2025 at The Westin Hotel, Cape Town.  

    The deadline for submissions has been extended to 30 June 2025, giving developers, consultants, suppliers, professional teams, and property owners across Africa an exciting opportunity to showcase their excellence in the continent’s dynamic real estate sector. 

    Why enter the API Awards? 

    The API Awards are the continent’s definitive recognition platform celebrating outstanding achievements in African real estate. Open to a wide range of participants —from developers and consultants to suppliers and property owners— the awards highlight innovation, sustainability, and impactful growth in the industry.  

    Judged by a distinguished panel of over 20 industry experts and thought leaders, the awards ensure impartiality and credibility, making being named a finalist or winner a coveted accolade that significantly boosts brand exposure and credibility. This year, the judges will evaluate submissions across three key categories: Development; Personnel; Service, Technology, and Innovation.  These categories reflect the multifaceted nature of the real estate ecosystem. 

    Spotlight on 2024 winners: Success stories that inspire 

    The impact of winning an API Award is profound and far-reaching. Last year’s winners have not only gained industry recognition but have leveraged their awards to accelerate growth, attract investment, and amplify their influence across Africa’s property landscape. 

    AlleyRoads: Best Affordable Housing Development 2024 

    AlleyRoads, a South Africa-based developer, won the Best Affordable Housing Development award for their innovative Inkanyezi Village project in Katlehong, Gauteng. Ivan Pretorius, Founder and CEO of AlleyRoads, shared how the award has been transformative: 

    “Winning the Best Affordable Housing Development award has highlighted that AlleyRoads plays an important and instrumental role in affordable housing development across South Africa. It has attracted select investors to invest in our group and demonstrated our dedication to improving all aspects of affordable housing.” 

    Pretorius also emphasized the broader social impact of the Inkanyezi Village project that was recognised by the API Awards. Inkanyezi Village in Katlehong boasts 378 apartments that cater to lower-to-middle income households. The apartments are powered by solar panels and a battery system, ensuring supply of electricity even during load-shedding.  

    “The award raised significant awareness about affordable housing in Katlehong, particularly the innovative use of off-grid power systems. Traditionally a feature of high-end residential projects, off-grid power solutions designed for affordability have improved quality of life in the lower end of the affordable housing market,” says Pretorius.  

    This recognition has not only enhanced AlleyRoads’ reputation but also underscored the potential for sustainable, affordable housing solutions across the continent. 

    REdimension Capital: Dealmakers of the Year 2024 

    REdimension Capital, led by Peter Clark and Matt Marshall, was honoured as Dealmakers of the Year for their outstanding deal-making prowess in the South African property investment market. REdimension Capital is a South Africa based investment firm that funds early-stage technology companies improving real estate through innovation and sustainability. The API accolade has had a tangible impact on REdimension Capital.  

    Says Clark and Marshall:  

    “Receiving the Dealmakers of the Year award was a meaningful milestone recognizing the significant work we have undertaken. It has enhanced our visibility and credibility within the property and venture investment ecosystem, reinforcing our position as a trusted partner for real estate stakeholders and technology founders.” 

    The pair says the award has also opened new doors for REdimension Capital, helping the company with its capital-raising efforts and expansion of strategic networks.   

    “Since receiving the award, we have executed additional deals, deepened our pipeline, and been able to provide credible support for our portfolio companies as they add scale. It has also helped strengthen our position as a leader in driving innovation in the built environment—something we are deeply committed to as we continue to bridge the gap between traditional real estate and the next generation of technology-enabled solutions.” 

    Submit Your Entry Today – Deadline Extended to 30 June 2025 

    The API Awards 2025 are your platform to showcase excellence and innovation in African real estate. Whether you are a developer pushing boundaries in sustainable housing, a consultant delivering cutting-edge solutions, or a supplier enabling transformative projects, your achievements deserve to be celebrated on the continent’s biggest stage.   

    Don’t miss this chance to join the ranks of Africa’s most respected property leaders. Visit the official API Summit Awards page for detailed criteria and submission guidelines: https://apo-opa.co/45xWg1g

    The API Summit is Africa’s premier real estate investment event, bringing together industry leaders, investors, government officials, and innovators to explore opportunities and challenges shaping the continent’s property market.  

    Distributed by APO Group on behalf of API Events.

    Distributed for API Events by Dmix:  
    API Events  
    Murray Anderson-Ogle  
    Email: Murray@apievents.com   
    Contact: +27 71 890 77 39  

    Social Media: 
    Website: https://www.APIEvents.com/ 
    Facebook: https://apo-opa.co/4e6RtG4
    Instagram: @ APIsummit 
    LinkedIn: API Events 

    MIL OSI Africa –

  • MIL-OSI: BCC Mining Empowers Users to Mine Ripple (XRP) and Dogecoin (DOGE) Daily with Ease and Profitability

    Source: GlobeNewswire (MIL-OSI)

    London, UK, June 20, 2025 (GLOBE NEWSWIRE) —  In the ever-evolving world of digital currencies, Dogecoin (DOGE) and Ripple (XRP) continue to capture investor interest. While DOGE surged in popularity thanks to its vibrant community and celebrity endorsements, XRP remains a strong contender in the cross-border payments sector. However, as the market matures and regulations tighten, the performance of these two assets has begun to diverge.

    Recent analysis suggests XRP is currently consolidating between key levels after a strong rally, signaling potential loss in momentum. Meanwhile, DOGE’s technical indicators hint at possible short-term declines, despite large investors continuing to accumulate, reflecting long-term optimism.

    Enter BCC Mining: A Smarter Way to Earn with Crypto

    In response to market volatility, many investors are turning to cloud mining as a more stable and passive income stream. That’s where BCC Mining comes in, a global leader in cloud-based cryptocurrency mining.

    Why BCC Mining?

    BCC Mining eliminates the need for expensive hardware or complex setups. Instead, users can access cutting-edge mining infrastructure and earn daily, all from a secure and user-friendly platform.

    Platform Highlights:

    • Instant $15 sign-up bonus.
    • High-yield daily payouts.
    • No hidden fees or service charges.
    • Supports over 10 major cryptocurrencies (DOGE, BTC, ETH, LTC, USDC, USDT, BNB, BCH, SOL, XRP).
    • Lucrative referral program, earn up to 1 BTC in bonuses.
    • Enterprise-grade protection with McAfee® and Cloudflare® security, 100% uptime, and 24/7 live support.

    How to Get Started

    1. Sign Up
      Create your free account on the official BCC Mining platform.
    2. Choose a Mining Package
      Select a plan that aligns with your investment goals and budget.
    3. Start Mining
      Let BCC Mining’s infrastructure generate earnings on your behalf.
    4. Get Paid Daily
      Enjoy automated daily payments directly to your account.

    Special Offer:

    Mining Plans & ROI

    Mining Plan Investment       Total Return
    BTC (Canaan Avalon A1466) $100       $108
    DOGE (Goldshell Mini-DOGE Pro) $600       $643
    BTC (Antminer S19 XP) $2,500       $2,937
    DOGE (Goldshell LT6) $7,800       $10,770
    BTC (Antminer T21) $10,000       $16,600
    BTC/BCH (ANTSPACE HK3) $50,000       $85,000

    Earnings are credited starting the next day after purchase. Once your balance reaches $100, you can withdraw or reinvest in new contracts.

    Real Investment Example

    • Plan: BTC [Advanced Computing Power Contract]
    • Investment: $15,000
    • Daily ROI: 1.64%
    • Daily Profit: $246
    • Total Return in 36 Days: $15,000 + ($246 × 36) = $23,856

    Returns vary by plan, term, and computing power. For full contract options, visit the official site.

    Final Thoughts

    With increasing uncertainty around assets like DOGE and XRP, many investors are shifting to stable, low-maintenance income models like cloud mining. BCC Mining offers a secure, efficient, and rewarding alternative, perfect for both beginners and seasoned crypto enthusiasts.

    Official Website: https://bccmining.com
    Mobile App Available here:  (click to download the mobile APP)
    Email: info@bccmining.com
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    Attachment

    The MIL Network –

  • MIL-OSI Economics: Review of Priority Sector Lending norms – Small Finance Banks

    Source: Reserve Bank of India

    RBI/2025-26/61
    DOR.LIC.REC.36/16.13.218/2025-26

    June 20, 2025

    All Small Finance Banks

    Madam/ Dear Sir,

    Review of Priority Sector Lending norms – Small Finance Banks

    Please refer to the ‘Guidelines for Licensing of Small Finance Banks in Private Sector’ dated November 27, 2014 and the ‘Guidelines for ‘on-tap’ Licensing of Small Finance Banks in Private Sector’ released by Reserve Bank on December 5, 2019. In terms of paragraph II (9) of the aforesaid Licensing Guidelines, a small finance bank (SFB) is required to extend 75 per cent of its Adjusted Net Bank Credit (ANBC) to the sectors eligible for classification as priority sector lending (PSL) by the Reserve Bank. Further, while 40 per cent of its ANBC should be allocated to different sub-sectors under PSL as per the extant PSL prescriptions, the bank can allocate the balance 35 per cent to any one or more sub-sectors under the PSL where it has competitive advantage.

    Revised provisions

    2. On a review, it has been decided that financial year 2025-26 onwards, the additional component (35 per cent) of PSL shall be reduced to 20 per cent, thereby making the overall PSL target as 60 per cent of ANBC or Credit Equivalent of Off-Balance Sheet Exposures (CEOBE), whichever is higher. The SFB shall continue to allocate 40 per cent of its ANBC or CEOBE, whichever is higher, to different sub-sectors under PSL as per the extant PSL prescriptions, while the balance 20 per cent shall be allocated to any one or more sub-sectors under the PSL where the bank has competitive advantage.

    3. These instructions are issued in exercise of the powers conferred on the Reserve Bank of India under Section 22 (1) of the Banking Regulation Act, 1949.

    Yours faithfully,

    (Manoranjan Padhy)
    Chief General Manager

    MIL OSI Economics –