NewzIntel.com

Category: Finance

  • MIL-OSI Russia: To the participants and guests of the 42nd plenary session of the Eurasian Group on Combating Money Laundering and Financing of Terrorism

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Dear Mr. Chairman!

    Dear delegates!

    I welcome you to Moscow at the plenary session of the Eurasian Group on Combating Money Laundering and Terrorism Financing. Russia currently chairs this authoritative association of states. And one of the significant events will be your session, in which representatives of international organizations are also participating.

    Today, integration in the Eurasian space is growing, which contributes to multifaceted development and progressive economic growth of the countries in the region. The introduction of high technologies helps to automate many processes and reduce costs. At the same time, against the backdrop of rapid digitalization, new challenges arise associated with the emergence of sophisticated forms of terrorist financing, including through the use of crypto assets for illegal purposes.

    The success of the fight against money laundering directly depends on the clear coordination of the actions of the agencies responsible for financial security. In this regard, it is impossible to overestimate the importance of the activities carried out by the Eurasian Group. Over 20 years, an effective model of interstate partnership has been built, allowing for the transparency of financial flows, timely identification and minimization of risks, and prompt response to them.

    It is important that the Group has created conditions for a substantive dialogue on a whole range of issues related to the protection of national and international financial systems. It is necessary to continue to build common approaches to legal regulation. To exchange experience and information, new technologies, best practices. And also to raise the level of knowledge about financial security among citizens.

    I am confident that this meeting will be another step in strengthening cooperation between our countries in such an important area. And the experts’ recommendations will find their practical application.

    I wish all participants constructive work.

    M. Mishustin

    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: Form 8.3 – AXA INVESTMENT MANAGERS: ALPHA GROUP INTERNATIONAL PL

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: AXA Investment Managers S.A.
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		  
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 Alpha Group International plc
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:  
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 28 May 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 0.2p ordinary
      Interests Short positions
      Number % Number %
    (1)   Relevant securities owned and/or controlled: 712,276 1.68    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 712,276 1.68    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/Sale Number of securities Price per unit
    0.2p ordinary Sale 2,340 GBP 30.11

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
             

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
                   

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit
             

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
           

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”
    None

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”
    None

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 29 May 2025
    Contact name: Anthony GILSOUL
    Telephone number*: +33 1 44 45 97 54

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    *If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel’s Market Surveillance Unit.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI: Defiance Launches CVNX: The First 2X Long ETF for Carvana Co.

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, May 29, 2025 (GLOBE NEWSWIRE) — Defiance ETFs introduces CVNX, the Defiance Daily Target 2X Long CVNA ETF (CVNX), a 2X leveraged single-stock ETF designed to provide amplified exposure to Carvana Co. (NYSE: CVNA). This ETF offers traders a way to pursue enhanced upside potential in Carvana without the need for a margin account.

    CVNX seeks daily investment results, before fees and expenses, of two times (200%) the daily percentage change in the share price of Carvana Co., a trailblazer in the digital transformation of used-car retail.

    “The Defiance Daily Target 2X Long CVNA ETF (CVNX) unleashes the full throttle of Carvana’s meteoric rise—up nearly 200% in the last year with Q1 2025 revenue smashing $4.23 billion. This ETF is built for savvy traders ready to amplify their stake in a company that’s rewriting the rules of used-car retail. With CVNA’s relentless growth, we’re giving investors the tools to seize this moment and ride the wave of automotive disruption.”
    — Sylvia Jablonski, CEO and CIO, Defiance ETFs

    For more information, visit DefianceETFs.com.

    The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. The Fund pursues a daily leveraged investment objective, which means that the Fund is riskier than alternatives that do not use leverage because the Fund magnifies the performance of the Underlying Security. The Fund is not suitable for all investors. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2X) investment results, understand the risks associated with the use of leverage, and are willing to monitor their portfolios frequently. For periods longer than a single day, the Fund will lose money if the Underlying Security’s performance is flat, and it is possible that the Fund will lose money even if the Underlying Security’s performance declines over a period longer than a single day. An investor could lose the full principal value of their investment within a single day.

    An investment in CVNX is not an investment in Carvana Co.

    About Defiance ETFs

    Founded in 2018, Defiance is at the forefront of ETF innovation. Defiance is a leading ETF issuer specializing in thematic, income, and leveraged ETFs. Our first-mover leveraged single-stock ETFs empower investors to take amplified positions in high-growth companies, providing precise leverage exposure without the need to open a margin account.

    IMPORTANT DISCLOSURES

    Defiance ETFs LLC is the ETF sponsor. The Fund’s investment adviser is Tidal Investments, LLC (“Tidal” or the “Adviser”).

    The Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contain this and other important information about the investment company. Please read the prospectus and / or summary prospectus carefully before investing. Hard copies can be requested by calling 833.333.9383.

    Investing involves risk. Principal loss is possible. As an ETF, the funds may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. A portfolio concentrated in a single industry or country, may be subject to a higher degree of risk.

    There is no guarantee that the Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment.

    Total return represents changes to the NAV and accounts for distributions from the fund.

    CVNA Risks: The Fund invests in swap contracts and options that are based on the share price of CVNA. This subjects the Fund to certain of the same risks as if it owned shares of CVNA even though it does not.

    Indirect Investment Risk. CVNA is not affiliated with the Trust, the Fund, or the Adviser, or their respective affiliates and is not involved with this offering in any way and has no obligation to consider your Shares in taking any corporate actions that might affect the value of Shares.

    Trading Risk. The trading price of the Fund may be subject to volatility and could experience wide fluctuations due to various factors. Short sellers may also play a significant role in trading CVNA, potentially affecting the supply and demand dynamics and contributing to market price volatility. Public perception and external factors beyond the company’s control may influence CVNA’s stock price disproportionately.

    Performance Risk. CVNA may fail to meet publicly announced guidelines or other expectations about its business, which could cause the price of CVNA to decline.

    Automotive Industry Risk. The automotive retail industry is subject to significant risks that can impact both profitability and competitiveness. The industry is highly dependent on consumer demand, which can be influenced by various factors such as economic conditions, consumer confidence, fuel prices, and preferences for particular vehicle types.

    Additional Risks:

    Compounding and Market Volatility Risk. The Fund has a daily leveraged investment objective and the Fund’s performance for periods greater than a trading day will be the result of each day’s returns compounded over the period, which is very likely to differ from two times (200%) the Underlying Security’s performance, before the Fund’s management fee and other expenses.

    Leverage Risk. The Fund obtains investment exposure in excess of its net assets by utilizing leverage and may lose more money in market conditions that are adverse to its investment objective than a fund that does not utilize leverage. An investment in the Fund is exposed to the risk that a decline in the daily performance of the Underlying Security will be magnified.

    Derivatives Risk. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risks related to the market, leverage, imperfect daily correlations with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation, and legal restrictions.

    Swap Agreements. The use of swap transactions is a highly specialized activity, which involves investment techniques and risks different from those associated with ordinary portfolio securities transactions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in derivatives which exposes the Fund to the risk that the counterparty will not fulfill its obligation to the Fund.

    Fixed Income Securities Risk. When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed-income securities owned by the Fund.

    Liquidity Risk. Some securities held by the Fund may be difficult to sell or be illiquid, particularly during times of market turmoil. Markets for securities or financial instruments could be disrupted by a number of events, including, but not limited to, an economic crisis, natural disasters, epidemics/pandemics, new legislation, or regulatory changes inside or outside the United States.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Diversification does not ensure a profit nor protect against loss in a declining market. Brokerage Commissions may be charged on trades.

    Distributed by Foreside Fund Services, LLC

    Contact Information
    David Hanono
    info@defianceetfs.com
    833.333.9383

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f9cbde05-7266-4bc8-9d94-24ec43e4a822

    The MIL Network –

  • MIL-OSI: Heron Power Raises $38M Series A to Accelerate an All-Electric Future

    Source: GlobeNewswire (MIL-OSI)

    Today’s electricity infrastructure can’t meet surging energy demand, holding back the electric economy and driving energy bills higher

    Founded by longtime Tesla SVP and backed by leading VCs, Heron Power is developing cheaper, faster and smarter hardware solutions for renewable energy and data centers to connect to the grid 

    SCOTTS VALLEY, Calif., May 29, 2025 (GLOBE NEWSWIRE) — Heron Power, an energy infrastructure company, today announced that it raised $38 million in Series A funding led by Capricorn Investment Group’s Technology Impact Fund, with participation from Breakthrough Energy Ventures, Energy Impact Partners, Gigascale Capital, Powerhouse Ventures, Valor Equity Partners, Tesla co-founder JB Straubel, and former Tesla CFO Zach Kirkhorn. The round brings the total funding raised by Heron Power to $43 million. The company is developing industrial power electronics purpose-built for the 21st-century grid, helping the electricity sector to grow faster with scalable, reliable and software-integrated infrastructure. Heron Power will use the new funding to expand its team and complete engineering of the Heron Link, a solid-state transformer solution displacing legacy transformers and power converters.

    Over the last decade, technologies like solar, batteries, and data centers have scaled faster than anyone imagined—growing from a few gigawatts in 2014 to more than 500 GW in 2024, equivalent to roughly two-thirds of the U.S. peak demand. But while energy technologies have leapt forward, the equipment connecting them to the grid hasn’t changed in a century.

    Today’s outdated medium-voltage transformers (MVTs) are massive, built with 10 tons of grain-oriented electrical steel and copper submerged in oil, and designed for a one-way, analog grid. They offer no real-time control, can’t regulate voltage or frequency, and can’t adapt to dynamic grid conditions. Now, as energy demand surges, transformers have become a critical bottleneck: lead times stretch up to 24 months, U.S. manufacturing meets less than 20% of demand, and prices have spiked 60-80% since 2020.

    “We’re at an inflection point where clean, abundant energy is ready to come online—but grid interconnection challenges hold us back,” said Drew Baglino, Founder and CEO of Heron Power. “Heron Power aims to bridge that gap. With electrification on a path to triple electricity demand and AI’s exponential need for power, we’re moving fast on the opportunity to modernize the grid with more capable hardware.”

    Heron Power’s first product, the Heron Link, deletes the legacy transformer and connects directly to medium voltage. It is a modular megawatt-scale power converter built on the latest advances in wide-bandgap semiconductors. Designed for high power density and ease of maintenance, it offers greater reliability and lower costs for renewable, energy storage, and data center developers. With integrated voltage and frequency regulation, Heron Link also enhances grid stability—helping to prevent cascading outages like the one in Spain in early 2025.

    Heron Power has partnerships with major energy and datacenter developers. The company is targeting an internal pilot in 2026, partner installations in early 2027, and plans to manufacture Heron Link in the US. The team brings deep technical expertise, having collectively designed and deployed over 80 gigawatts of grid-connected power electronics over the past decade. 

    “Power electronics innovation brings the power of ‘Moore’s law’ to energy,” said Dipender Saluja, co-managing partner of Capricorn’s Technology Impact fund. “For two decades, we’ve sought out and invested in transportation, aviation, electronics, materials and energy companies with innovative power electronics at the core of their products. Heron Power’s team is singularly impressive: they have the technical depth, execution experience, and clarity of intention to reinvent utility-scale power electronics.”

    About Heron Power

    Heron Power Electronics Company is developing industrial power electronics purpose-built for the 21st-century grid, helping the electricity sector to grow faster with scalable, reliable and software-integrated infrastructure. Its modular solid state transformer technology enables renewable energy, storage, and datacenter developers to directly connect to medium voltage transmission without the use of a transformer. Led by founder and CEO Drew Baglino, the Scotts Valley, CA-based company combines expertise in power electronics, software, and high-volume manufacturing. For more information, visit www.heronpower.com.

    Media Contact

    press@heronpower.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1ce02aff-c8e9-47f7-a919-f99d440e7ea2

    The MIL Network –

  • MIL-OSI United Kingdom: Pension plan to double £25 billion+ megafunds, boost investment and improve returns for savers

    Source: United Kingdom – Executive Government & Departments 3

    Press release

    Pension plan to double £25 billion+ megafunds, boost investment and improve returns for savers

    Millions of workers are set to retire with bigger pension pots as the Government confirms plans to double the number of UK pension megafunds by 2030, unlocking billions to invest in Britain’s future.

    • Move secures over £50 billion investment in UK infrastructure, new homes and fast-growing businesses, as pension funds reverse decades of declining domestic investment. 
    • Average earner could get £6,000 boost to their pension pots at retirement from consolidation alone – with further increases expected through the Pension Schemes Bill. 
    • £1 billion a year of costs could be saved through consolidation and better governance, ensuring savings deliver for working people and the economy.

    Reforms set to be introduced through the Pension Schemes Bill will mean all multi-employer Defined Contribution pension schemes and Local Government Pension Scheme pools operate at megafund level, managing at least £25 billion in assets by 2030. Evidence from Australia and Canada shows that this size allows pension funds to invest in big infrastructure projects and private businesses, boosting the economy while potentially driving higher returns for savers. 

    These changes will drive more investment directly into the UK economy for new homes and promising scale-up businesses, with over £50 billion secured through the recent voluntary commitment from pension funds to invest 5 percent of assets in the UK and new local investment targets for Local Government Pension Scheme authorities. 

    This tackles the gradual decline in domestic investment from UK pension funds, where around 20 per cent of Defined Contribution assets are currently invested compared to over 50 per cent in 2012, as the Government goes further and faster to drive growth, create jobs and put more money into people’s pockets through the Plan for Change. More than 50 scale-up businesses have signed a joint letter to the Chancellor welcoming the reforms as a ‘significant milestone in ensuring British institutions back British businesses at the scale required to generate growth, employment and wealth.’ 

    New figures from the final report of the Pensions Investment Review published today also show that these reforms will drive higher returns for savers, in part by cutting waste in the system. By 2030 these schemes could be saving £1 billion a year through economies of scale and improved investment strategies. As a result, an average earner who saves over their career could see a £6,000 boost to their Defined Contribution pension pot at retirement through the creation of megafunds – with even better returns expected to be generated through changes in the upcoming Pension Schemes Bill.

    Chancellor of the Exchequer, Rachel Reeves, said: 

    We’re making pensions work for Britain. These reforms mean better returns for workers and billions more invested in clean energy and high-growth businesses – the Plan for Change in action.

    Deputy Prime Minister, Angela Rayner said:  

    The untapped potential of the £392 billion Local Government Pension Scheme is enormous. Through these reforms we will make sure it drives growth and opportunities in communities across the country for years to come – delivering on our Plan for Change.

    Today’s pensions announcements follow a month of major delivery milestones for the Plan for Change: new trade deals with India, the US and the EU, UK growth the highest in the G7, and the fourth interest rate cut since last summer after the government secure the economy’s foundations. 

    Multi-employer defined contribution pension schemes will be required to operate at megafund level, managing £25 billion or more in assets, and the full investment might of the £392 billion Local Government Pension Scheme (LGPS) will be unleashed by consolidating assets currently split over 86 administering authorities into just 6 pools.  

    Defined Contribution schemes will be given more freedom through legislation to move savers into better performing funds, enabling bulk transfer of assets into the megafunds while ensuring savers’ interests are always protected. Schemes worth over £10 billion that are unable to reach the minimum size requirement by the end of the decade will be allowed to continue operating, as long as they can demonstrate a clear plan to reach £25 billion by 2035. 

    The Mansion House Accord shows DC schemes are voluntarily investing more in infrastructure and businesses. To provide additional certainty that individual schemes will not lose business by investing in private markets, which offer the potential for higher returns but are expensive to invest in upfront, the Government will take a reserve power in the Pension Schemes Bill to set binding asset allocation targets. 

    The Pensions Investment Review confirms the March 2026 deadline for LGPS asset pooling, with a backstop power set to be taken in the Pension Schemes Bill to protect the interests of LGPS members and local taxpayers where necessary by directing an Administering Authority to participate in a specific investment pool.  

    Local investment targets will be agreed with LGPS authorities for the first time, securing £27.5 billion for local priorities. LGPS authorities will work with regional mayors, Welsh Authorities and councils to back the projects that matter most to the 6.7 million public servants – most of whom are low-paid women – whose savings they manage.

    Minister for Pensions, Torsten Bell, said: 

    Our economic strategy is about delivering real change, not tinkering around the edges. When it comes to pensions, size matters, so our plans will double the number of £25 billion plus megafunds. These reforms will mean bigger, better pension schemes, delivering a better retirement for millions and high investment in Britain.

    Irene Graham OBE, CEO ScaleUp Institute said:

    This represents a significant milestone in ensuring British institutions back British business – at the scale required – to generate growth, employment and wealth. UK pension funds are central to achieving this goal and addressing the UK’s longstanding growth capital gap that have held back growth ambitions. 

    The ScaleUp Institute, and the broad representatives of the scaleup economy across the UK, have written to the Chancellor today to welcome the Government’s final report on the Pensions Investment Review and the Government’s commitment to double the number of UK pension megafunds by 2030, thereby unlocking billions of patient capital to scaling businesses across the country.

    The changes come as London CIV has become the first LGPS pool to announce its intention to work with the British Business Bank on the launch of the British Growth Partnership (BGP), joining Aegon UK and NatWest Cushon, who last year announced their intention to collaborate on the BGP and invest in fast-growing businesses. These three funds manage a combined £274 billion in assets. 

    The upcoming Pension Schemes Bill will continue the Government’s fundamental reset of our pensions landscape, including by tackling the small pots problem, allowing Defined Benefit surpluses to be safely released, requiring every scheme to deliver value for money, and ensuring all savers are offered a default retirement income product. 

    Countries like Canada and Australia show how powerful pension consolidation can be – having built megafunds that invest in assets that boost their economies. Today’s reforms put the UK on the same path.

    More information

    • The final report of the Pensions Investment Review will be here. Further detail on all calculations and assumptions will be contained in the analytical annex. 

    • Just over 50% of DC assets were invested domestically in 2012 which has gradually declined to just over 20% by 2023. 

    • The £50 billion investment figure combines the Mansion House Accord commitment to invest 5% of assets in the UK (£25 billion by 2030), and the estimate for Local Government Pension Scheme local investment (5% of £550 billion by 2030). 

    • The £6,000 boost to retirement pots is from the impact of consolidation alone, which we estimate to deliver at least a 6-basis point reduction in fees as well as increase allocations to productive assets such as infrastructure projects. This means an average (median) earner saving into a DC pension, who is 22 and saves for their entire career until State Pension Age will see a £6,000 boost to their retirement pot before other measures in the Pension Schemes Bill are factored in. 

    • The £1 billion savings figure for DC schemes is based on a 12 basis point reduction in costs applied to £800 billion assets under management by 2030 – delivering a £960m saving. The Pension Investment Review consultation responses suggested consolidation of pension providers could lead to reduced charges by up to 10-20bps over the longer term and Australia had around a 12bp cost reduction through scale. 

    • The government’s response to the Options for Defined Benefit schemes consultation, also published today sets out how Government will unlock some of the £160 billion of surplus funds from well-funded Defined Benefit (DB) pension schemes, to benefit employers, members and the economy. It also sets out that the Government is continuing to consider a consolidator for DB schemes, run by the Pensions Protection Fund. The response is here: Options for Defined Benefit schemes – GOV.UK

    • The joint letter from scale up businesses can be found here

    Irene Graham OBE, CEO ScaleUp Institute, said:

    The ScaleUp Institute, and the broad representatives of the scaleup economy across the UK, have written to the Chancellor today to welcome the Government’s final report on the Pensions Investment Review and the Government’s commitment to double the number of UK pension megafunds by 2030, thereby unlocking billions of patient capital to scaling businesses across the country.

    This represents a significant milestone in ensuring British institutions back British business – at the scale required – to generate growth, employment and wealth. UK pension funds are central to achieving this goal and addressing the UK’s longstanding growth capital gap that have held back growth ambitions. 

    To deliver tangible impacts on the ground we must now see the intent in these reforms, alongside the recently augmented Mansion House Accord, turn into practical institutional investment outcomes in every part and sector of the country, including our rapidly growing innovation and industrial sectors.

    That is why it is so important that the Government’s plans today remain focussed on making sure these reforms are enacted swiftly, and that will place powers into the Pension Scheme Bill to enable compliance.

    The ScaleUp ecosystem across the country looks forward to working with the government and industry partners to ensure the ambitions of this review are fully realised and deliver lasting impact. Thereby ensuring that UK businesses with global ambition get access to the local funding needed to scale, build, and stay in the UK.

    Michael Moore, BVCA Chief Executive, said: 

    These reforms are a real win-win for UK scaleups and pension savers. 

    Countries like Canada and Australia show that when pension funds invest in private capital, you help the national economy and deliver better retirement outcomes. The government should be applauded for learning from their example.

    Megafunds will have the scale needed to develop the expertise required to invest in private capital funds, which will support the development of fast growing businesses and generate stronger returns for pensions savers.

    Jamie Jenkins, Director of Policy & Technical, Royal London said: 

    Today’s announcement sets out a long-term, strategic approach for pension provision in the UK, improving value for savers, and providing greater certainty for employers and their advisers.

    The Lord Mayor of London, Alastair King, said:

    As joint architects of the Mansion House Accord, we welcome the Government’s final Pension Investment Review report as a vital next step in delivering on our shared ambition to unlock capital for growth. This landmark agreement will facilitate the injection of over £25 billion into the UK economy, supporting crucial capital for high-growth businesses and infrastructure projects. With greater consolidation, scale, and alignment between pensions and the real economy, we now have the opportunity to secure better outcomes for savers and long-term investment in the future of the UK. To ensure the best investment outcomes, it is essential that pension funds maintain the autonomy to allocate assets optimally, thereby maximising returns for the savers whose interests they safeguard.

    Updates to this page

    Published 29 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Arkansas’ Credit Rating Rises Under Gov. Sanders’ Leadership

    Source: US State of Arkansas

    Arkansas’ Credit Rating Rises Under Gov. Sanders’ Leadership

    S&P raises to AA+, highest since 1966

    LITTLE ROCK, Ark. – S&P Global Ratings and Moody’s Ratings both released their outlook on the State of Arkansas’ creditworthiness. S&P raised its long-term rating on state general obligation bonds to AA+ – the highest since 1966 – and affirmed the state’s stable outlook. Moody’s affirmed Arkansas’ Aa1 issuer rating.

    These strong ratings from two of the world’s leading credit rating agencies emphasize Arkansas’ steady budget management and make it more affordable for the State to issue bonds.
     
    “Good leadership matters, and when Arkansas is able to cut taxes, invest in priorities, and grow our reserve funds – all at the same time – it just proves that our conservative economic agenda is working,” said Governor Sanders. “Today’s announcement is more than just a seal of approval on our financial discipline; it also shows potential investors that we are an excellent state for their business.”
     
    “In our conversations with both S&P and Moody’s we pointed to the strength of the state’s balance sheet, including the addition of the $1 billion Arkansas Reserve Fund, Governor Sander’s leadership in cutting taxes by more than 20% in just two years, our growing steel and lithium industries, and the booming metropolitan area in Northwest Arkansas,” said Department of Finance and Administration Secretary Jim Hudson. “S&P’s and Moody’s ratings tell us that we are on the right track in Arkansas.”
     
    S&P and Moody’s favorable ratings will have an immediate benefit to the state in connection with a planned $25 million bond issuance through the Arkansas Natural Resources Commission for irrigation, water, and wastewater projects.      
     
    A full list of state credit ratings from S&P Global is available here.
     
    A full list of state credit ratings from Moody’s is here.

    ###

    MIL OSI USA News –

  • MIL-OSI: Himax Subsidiary Liqxtal Technology Pro-Eye Vision Care Display Makes its Medical Taiwan 2025 Debut

    Source: GlobeNewswire (MIL-OSI)

    TAINAN, Taiwan, May 29, 2025 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, and Liqxtal Technology Inc. (“Liqxtal”), a subsidiary of Himax dedicated to developing various liquid crystal optical components with exceptional design expertise, today jointly unveiled the industry’s first patented vision care display — the Liqxtal® Pro-Eye will be showcased at Medical Taiwan 2025, the premier medical and healthcare technology exhibition in the Asia-Pacific region taking place June 5 – 7 at the Taipei Nangang Exhibition Center, Hall 2. Liqxtal® Pro-Eye has already been deployed in multiple engineering projects with leading industry partners targeting applications addressing age-related presbyopia and slowing the progression of myopia for school-aged children, as well as eye comfort during extended viewing times. Alongside the Pro-Eye display, several other products will also be on display that integrate cutting-edge imaging and liquid crystal-based smart optical technologies.

    Liqxtal® Pro-Eye employs patented electrically tunable liquid crystal technology to break beyond the typical 20 to 24-inch viewing distance of conventional computer monitors, projecting a virtual image roughly 16 feet away. This effectively relieves ciliary muscle fatigue, dramatically alleviating eye strain and creating a comfortable, low-effort virtual viewing distance, redefining the interactive experience of personalized displays. Liqxtal’s patented technology is especially suited for seniors and school-age children. It not only eases near-vision strain and eye dryness for individuals with presbyopia but also reduces the risk of axial elongation in children from prolonged close-range reading, thereby helping to delay myopia progression and support vision health.

    Liqxtal® Pro-Eye – Cutting-Edge Patented Vision Care Display

    Dr. Hung Shan Chen, President of Liqxtal, will give a speech entitled “Presbyopia Savior! The Most Comfortable Vision-Care Display for Seniors,” on June 7 at 1:30 p.m. at the main stage where he will dive into the core technologies behind the Liqxtal® Pro-Eye and its revolutionary application scenarios.

    Liqxtal will also showcase a range of other products that combine innovative imaging and smart optical technologies. Among them is the Liqxtal® Dim adaptive lens, which integrates Liqxtal’s exclusive pixelated light valve control with Himax’s WiseEye ultralow power AI sensing technology. Liqxtal® Dim can detect ambient light in real time and adaptively adjust light tuning, making it ideal for smart sunglasses and vision training devices, significantly improving user comfort in both bright sunlight and dim indoor conditions.

    “Liqxtal has been relentlessly advancing liquid crystal-based optical technologies and expanding applications particularly in display and wearable applications. The Pro-Eye display showcased at Medical Taiwan is a prime example,” said Dr. Hung Shan Chen, President of Liqxtal. “With our patented electrically tunable liquid crystal technology, Pro-Eye significantly alleviates the fatigue and dryness associated with extended viewing, delivering unprecedented comfort and visual clarity. Whether for seniors, schoolchildren, or anyone who spends long hours in front of a screen, this truly is a tangible innovation in visual wellness for our digital age.”

    Himax and Liqxtal warmly invite all interested media and professionals to visit Booth P0430 in the “Digital Health Pavilion” first floor of Hall 2 at the Taipei Nangang Exhibition Center. Come experience the Liqxtal® Pro-Eye display and other cutting-edge technologies firsthand and see how liquid crystal-based optics is transforming health-focused display applications.

    About Liqxtal Technology Inc.

    Liqxtal Technology Inc. is a Taiwan based company that has been focused on exploring opportunities with liquid crystal (“LC”) beyond just displays since the company’s inception. With a distinguished track record in liquid crystal optics, Liqxtal has developed liquid crystal based optical components such as LC lens for ophthalmic application, LC diffuser for 3D sensing and LC retarder for light sensing. Additionally, Liqxtal designed and released LQ001, a high voltage & tunable frequency LC driver with a 1mm x 2mm footprint, which is particularly ideal for portable products. As a subsidiary of Himax Technologies, Liqxtal also integrates novel display solutions such as tunable backlight with local dimming capability powered by FPGA for niche applications. Lastly, Liqxtal is dedicated to novel vision eyewear technology and strives to innovate and advance useful optical solutions to the world.

    About Himax Technologies, Inc.

    Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEyeTM Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,603 patents granted and 389 patents pending approval worldwide as of March 31, 2025.

    http://www.himax.com.tw

    Forward Looking Statements

    Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2024 filed with the SEC, as may be amended.

    Liqxtal Contact:
    Henry Hung, Deputy Director of Market & Sales Division
    Liqxtal Technology Inc.
    Tel: +886-6-505-0880
    Email: info@liqxtal.com

    Himax Contacts:
    Karen Tiao, Head of IR/PR
    Himax Technologies, Inc.
    Tel: +886-2-2370-3999
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

    Mark Schwalenberg, Director
    Investor Relations – US Representative
    MZ North America
    Tel: +1-312-261-6430
    Email: HIMX@mzgroup.us 
    www.mzgroup.us

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a129e586-9c5f-4f5f-998a-e831ea57972e

    The MIL Network –

  • MIL-OSI: XenDex Presale Extension: $XDX Token Still Selling As The Project Team Reveals Investors’ Request For Presale Extension

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, May 29, 2025 (GLOBE NEWSWIRE) — In a dramatic turn of events, XenDex has announced a short extension to its presale following overwhelming requests from late investors. With less than 7% of the $XDX allocation remaining and growing demand, this short extension gives stragglers one last chance to secure tokens before listings go live. The timing is impeccable considering Ripple’s acquisition of Circle and Volatility Shares’ launch of the XRPI Futures ETF have intensified institutional interest in XRP, setting a bullish tone across the ecosystem.

    Buy $XDX Before Listing On Exchanges Soon

    As major buyers scramble to grab the last batch of tokens, the team has confirmed that the presale will not be extended again. $XDX is in discussion to be listed on Binance, BitMart, Gate.io, MagneticX, and FirstLedger, and investors who delay now risk buying at significantly higher post-launch prices.

    What is XenDex on XRP Blockchain?

    XenDex is the first all-in-one decentralized exchange (DEX) built entirely on the XRP Ledger. Designed for speed, security, and scalability, XenDex merges advanced DeFi tools into a clean, user-friendly interface.

    Purchase XDX And Earn Rewards

    Features and Problems XenDex Aims to Solve on XRPL

    XenDex brings long-awaited DeFi functionality to XRP, including:

    • AI Copy Trading – Auto-mirror expert traders and minimize loss
    • Lending & Borrowing – Lend or borrow crypto without intermediaries
    • Cross-Chain Trading – Swap XRP across other blockchain on Solana, Ethereum, BNB, etc.
    • DAO Governance – Token holders vote on upgrades via $XDX

    Why Should I Buy $XDX?

    Holding $XDX gives users:

    • rewards through Staking and liquidity provision
    • Platform fee discounts
    • Early access to features, airdrops, and listings
    • Voting power on future platform decisions and upgrades

    Where Can I Trade $XDX?

    After the presale, $XDX is expected to be available for trading on major exchanges, with active discussions currently underway with Binance, Gate.io, MEXC, BitMart, MagneticX, and FirstLedger

    Purchase $XDX At Its Cheapest Price Before Going Public

    Is XenDex a Legit Project on XRP?

    Yes. Developed by blockchain veterans with roots in Cardano and SUI, XenDex is undergoing full smart contract audits and integrates with Xaman, XRP Toolkit, and Github.

    How Do I Buy $XDX?

    Visit: https://xendex.net/presale
    Rate: 1.25 XRP = 10 XDX
    Minimum Buy: 150 XRP
    Detailed Guide On How To Buy $XDX: https://xdxdocs.gitbook.io

    XenDex Presale Details

    • Soft Cap: Reached
    • Hard Cap: 93% SoldTime Left: 72-Hour Grace Period Only
    • Presale Rate: 150 XRP = 1200 $XDX

    Buy XDX At A Discount Before Pumping Upon Listing on Exchanges: https://xendex.net/presale

    Join XenDex Community Below

    Website: https://xendex.net
    Presale: https://xendex.net/presale
    Telegram: https://t.me/xendexcommunity
    Twitter/X: https://x.com/xendex_xrp
    Docs: https://xdxdocs.gitbook.io

    Contact:
    Frank Richards
    Frank@xendex.net

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

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/90def1a0-c55a-45eb-868a-c8c3060f6431

    The MIL Network –

  • MIL-OSI NGOs: The EU offer is not going to deliver the ambition needed for Sevilla

    Source: Oxfam –

    Today civil society organisations in Brussels are calling on European countries to raise their ambition after the release of a “deeply disappointing” collective EU position in the Council Conclusions “ahead of the 4th International Conference on Financing for Development”, taking place in Spain next month. 

    The Conference will bring together governments from around the world to tackle issues such as sovereign debt, international development cooperation and international financial architecture reform. 

    Jean Saldanha, Director at the European Network on Debt and Development (Eurodad) said: “The world is facing the worst debt crisis ever, and the aid budgets of OECD countries are being slashed. Many Global South governments are calling for decision-making to shift from forums dominated by wealthy countries like the OECD and the G20 to the UN, where everyone has a seat at the table. Instead of backing these proposals, today’s Conclusions show the EU defending the status quo. But it is not yet too late for EU countries to back outcomes that will deliver a better future for the world’s poorest people.”

    On the sovereign debt crisis, which has led lower-income countries to spend more on servicing their debt than they do on education and healthcare, the EU position is woefully inadequate. The Conclusions call for an annual dialogue, dominated by creditors, with UN institutions and a few borrowing countries. Borrowing countries need and have been calling for an inclusive and comprehensive process where debtors and creditors would negotiate on an equal footing instead. 

    Javier García de la Oliva, Head of Country Engagement and Transformation Europe and Americas at ActionAid International, said: “The EU blockage to borrowing countries’ proposal for an intergovernmental process to establish a UN framework convention on debt is the most striking evidence of their preference for the undemocratic creditor creditor-dominated status quo. The EU wrongly claims that such a process would be duplicative, but then proposes the creation of a useless and duplicative talk shop involving the UN in an attempt to deflect criticism.”

    On development cooperation, the EU “recalls the collective commitment” to fulfil their “respective ODA commitments” to deliver 0.7 per cent of gross national income as foreign aid. Yet, the 2024 figures show that ODA fell by 8.6 per cent among EU members compared to 2023. And, these figures are just the tip of the iceberg, as in 2025, the situation will be even worse, following significant announcements of aid budget cuts. Moreover, the EU falls back again on the Global Gateway, an investment initiative that barely scratches the surface of the challenges the poorest countries in the world are facing.

    Hernan Saenz, Oxfam International’s FfD Global Lead, said: “European leaders have been stating their commitment to international development, but their collective position published today is rich in rhetoric but poor in commitments. It is no more than the bare minimum, with proposals that relegate the responsibility to deliver on private finance instead of raising public ambition. Restating previous ODA commitments is meaningless, if this is not followed by concrete actions.” 

    Jean Saldanha, Director at the European Network on Debt and Development (Eurodad), said:  “Wealthy countries both set and monitor the rules that govern aid and development cooperation more broadly, through the OECD, which is an exclusive space. Several governments in the global south and CSOs from across the world are demanding a greater role for the UN in the governance and norm-setting of international development cooperation. While the Council states that it ‘is in favour of enhancing the international development cooperation architecture’, its support to processes that do not share the buy-in or ownership of the full UN membership is disappointing.” 

    Jean Saldanha, Director at the European Network on Debt and Development (Eurodad), said: It is too early for the Global Gateway to be a credible offer for countries in the global south. There is a significant risk that the focus on creating opportunities for European businesses in the global south is prioritised over development objectives such as poverty reduction.” 

    The negotiations towards the Financing for Development Conference are set to continue next month. 

    Hernan Saenz, Oxfam International’s FfD Global Lead, said: “The EU knows Sevilla could be a turning point – a chance to make sure that global cooperation works for people. But instead of choosing a side, the EU is playing safe. They walk the middle road even though it is crumbling beneath them. The EU must choose: stand with a decaying, unequal world or choose a new world that puts people, planet, and the fight against inequality at its core. It’s shocking. In a world where the gap between the rich and poor has never been so big, when aid cuts are the new norm and debt is piling up, the EU turns a blind eye to real solutions – like supporting the taxing of the super-rich and backing the UN’s Tax Convention push for fairer global tax rules.”

    Javier García de la Oliva, Head of Country Engagement and Transformation Europe and Americas at ActionAid International, said: “While the global south pushes for a fairer multilateral system, the EU clings to outdated privileges and broken governance models. This stance not only fails the planet and the most vulnerable—it undermines the EU’s own credibility, its Treaty commitments to democracy and multilateralism, and its (self-proclaimed) leadership on sustainable development. We call on the most ambitious Member States to lead by example and push for greater ambition when they next meet in New York, in the preparatory negotiations, and in Sevilla itself for this pivotal conference.”

    MIL OSI NGO –

  • MIL-OSI Africa: African Mining Week (AMW) 2025 to Unpack the Democratic Republic of the Congo’s (DRC) Cobalt Market Prospects, Global Significance

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

    CAPE TOWN, South Africa, May 29, 2025/APO Group/ —

    As the Democratic Republic of the Congo (DRC) seeks to maximize the financial and economic returns from its cobalt reserves – considered some of the largest worldwide -, the upcoming African Mining Week will spotlight the country’s expanding investment opportunities across the cobalt value chain.

    Taking place October 1-3, 2025, in Cape Town, the event is Africa’s premier gathering of mining stakeholders. A dedicated panel discussion, titled Cobalt Opportunity: DRC’s Strategic Position in the EV Revolution, will unpack the DRC’s pivotal role in the global cobalt market, detailing how the nation is boosting value addition, addressing global demand while creating lucrative prospects for international investors.

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

    A key ingredient for lithium-ion batteries, cobalt is witnessing a surge in demand as countries worldwide accelerate the deployment of energy transition technologies such as renewable energy, electric vehicles (EV) and energy storage. The World Bank posits that global cobalt consumption could increase to 344,000 tons in 2030, representing a 9.6% annual increase between 2017 and 2030. Accounting for 70% of global cobalt production, the DRC is strategically positioned to leverage its comparative advantage in the industry to increase revenue, drive development and consolidate its position as a global cobalt supplier.

    Given this potential, the country is enhancing its role in the global EV value chain by promoting local value addition and establishing direct supply agreements. The country partnered with Zambia and the African Export-Import Bank to develop regional Special Economic Zones (SEZs) for EV manufacturing, leveraging local cobalt resources to build a competitive industrial base. Supporting this vision is the creation of the Congolese Battery Council, which facilitates SEZ development, and a $350 million cobalt smelting plant under development in partnership with U.S.-based Delphos International. Similarly, Congolese firm Buenassa – backed by $3.5 million in initial funding from the government – is also constructing a hydrometallurgical plant in Lualaba province, set to produce 30,000 tons of copper cathode and 5,000 tons of cobalt sulphate annually by 2027.

    In addition to infrastructure advancements, the DRC is proving an attractive environment for foreign investment. Ivanhoe Mines reported revenues of $973 million in Q1, 2025 – a 57% year-on-year increase – at its Kamoa-Kakula Copper-Cobalt mine, demonstrating the potential for strong returns within the country. Meanwhile, China’s CMOC Group, the world’s top cobalt producer, achieved record-breaking production in 2024 from its Tenke Fungurume and Kisanfu mines and is on track to exceed those volumes in 2025, further strengthening the DRC’s global footprint in the EV revolution.

    Amid these developments, African Mining Week will connect global investors with the DRC’s rapidly evolving cobalt sector and its broad array of high-return opportunities. The panel discussion will outline investment opportunities, challenges and upcoming initiatives.

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Over £7.4 million put back in working people’s pockets by employers

    Source: United Kingdom – Government Statements

    Press release

    Over £7.4 million put back in working people’s pockets by employers

    Employers who have left workers over £7.4 million out of pocket by failing to pay the National Living and National Minimum Wage named.

    • More money put into the pockets of hardworking people, as government delivers the biggest upgrade to worker’s rights in a generation, as part of the Plan for Change
    • Workers will be paid over £7.4 million by employers after nearly 60,000 workers have been left out of pocket.
    • Action builds on recent uplift to the National Living and National Minimum Wage which puts £1,400 into the pockets of workers and families across the UK

    Nearly 60,000 workers who have been left out of pocket will be repaid over £7.4 million the Government has announced today [Thursday 29th May] in its latest move to Make Work Pay.

    This follows a significant uplift to the National Living Wage and National Minimum Wage – putting £1,400 into the pockets of full-time workers on NLW and supporting millions of families across the country – as well as the biggest upgrade to workers’ rights in a generation under the Employment Rights Bill.

    As part of the Plan for Change, this Government’s priority is to grow the economy and raise living standards. A strong economy can only be built when people have financial security whilst in work and robust enforcement action will be taken against employers who do not pay their staff correctly.

    The 518 employers and businesses named today have since paid back what they owe to their staff and faced financial penalties of up to 200% of their underpayment. The investigations by His Majesty’s Revenue and Customs (HMRC) concluded between 2015-2022.

    Minister for Employment Rights, Justin Madders said:

    There is no excuse for employers to undercut their workers, and we will continue to name companies who break the law and don’t pay their employees what they are owed.

    Ensuring workers have the support they need and making sure they receive a fair day’s pay for a fair day’s work is a key commitment in our Plan for Change. This will put more money in working people’s pockets, helping to boost productivity and ending low pay.

    Baroness Philippa Stroud, Chair of the Low Pay Commission, said:

    We welcome today’s publication. Underpayment leaves workers out of pocket and disadvantages the majority of employers who do abide by the rules.

    These naming rounds play an important part in ensuring that all workers receive their full wages and that they are aware there is support for them to ensure that they do.

    Putting more money into the pockets of the lowest paid increases workers’ financial security, offers stability to help increase staff retention and lowers recruitment costs for businesses in the long run.  Whilst not all minimum wage underpayments are intentional, the Government is clear that enforcement action will be taken against employers who do not pay their staff correctly.

    Ahead of permanently lowering tax rates for high street retail, hospitality, and leisure (RHL) from 2026/27, we have prevented the current RHL relief from ending this April, extending it for one year to ensure that over 250,000 RHL properties see a full 40 per cent reduction on their liability, and we have frozen the small business multiplier. 

    Notes to Editors:

    • If workers suspect they are being underpaid, they can visit gov.uk/checkyourpay to find out more about what they can do.
    • Workers can also call the Acas helpline on 0300 123 1100 or visit their website for free, impartial and confidential advice or complain to HMRC at Pay and work rights helpline and complaints
    • The minimum wage law applies to all parts of the UK.
    • Employers should always carry out the necessary checks – see the guidance: Calculating the Minimum Wage
    • HMRC consider all complaints from workers, so workers are being reminded to check their pay with advice available through the Check your pay website
    • National Living Wage and National Minimum wage rates:
    2024 rate 2025 rate
    National Living Wage (21 and over) £11.44 £12.21
    18 to 20 £8.60 £10.00
    Under 18 £6.40 £7.55
    Apprentice £6.40 £7.55
    1. Capita Business Services Ltd, City of London, EC2V, failed to pay £1,154,461.97 to 5,543 workers.
    2. Pizzaexpress (Restaurants) Limited, Croydon, CR0, failed to pay £760,701.61 to 8,470 workers.        
    3. Virtual Marketing Services (Gibraltar) Ltd, Birmingham, B3, failed to pay £478,282.71 to 41 workers.        
    4. L. Rowland & Company (Retail) Limited , Runcorn, WA7, failed to pay £307,342.87 to 2,293 workers.        
    5. Templar Corporation Limited, Lewisham, SE16, failed to pay £298,143.12 to 26 workers.        
    6. Lidl Great Britain Limited, Merton, SW19, failed to pay £286,437.18 to 3,423 workers.        
    7. British Airways PLC, Harmondsworth, UB7, failed to pay £231,276.10 to 2,165 workers.        
    8. Scottish Midland Co-operative Society Limited, Newbridge, EH28, failed to pay £186,883.56 to 1,795 workers.        
    9. Interserve (Facilities Management) Ltd, Lambeth, SE1, failed to pay £177,268.08 to 2,297 workers.        
    10. Prezzo Limited, Woodford Green, IG8, failed to pay £163,702.67 to 2,550 workers.        
    11. Halfords Ltd, Redditch, B98, failed to pay £140,829.79 to 4,341 workers.        
    12. The Southern Co-Operative Limited , Portsmouth, PO6, failed to pay £126,739.33 to 2,300 workers.        
    13. TUI UK Retail Limited, Luton, LU2, failed to pay £107,611.04 to 2,044 workers.        
    14. Heart Of England Co-Operative Society Limited, Coventry, CV6, failed to pay £90,870.95 to 1,017 workers.        
    15. CDS (Superstores International) Limited, Plymouth, PL6, failed to pay £89,158.47 to 1,648 workers.        
    16. Day Lewis PLC, Croydon, CR0, failed to pay £82,819.47 to 604 workers.        
    17. Petrogas Group UK Limited, Ampthill, MK45, failed to pay £63,026.69 to 602 workers.        
    18. Mr Guiseppe Caruso , London, W2, failed to pay £59,780.03 to 2 workers.        
    19. William Strike Limited, Carlisle, CA6, failed to pay £56,657.01 to 798 workers.        
    20. Property Management Services (NI) Limited, Belfast, BT3, failed to pay £54,852.44 to 414 workers.        
    21. Coghlan Lodges Limited, Uxbridge, UB8, failed to pay £52,062.45 to 45 workers.        
    22. Ant Marketing Limited, Sheffield, S2, failed to pay £46,260.65 to 340 workers.        
    23. Maclean Services (L) Limited, London, W2, failed to pay £43,583.26 to 781 workers.        
    24. ABM Aviation UK Limited, Hounslow, TW6, failed to pay £40,243.10 to 880 workers.        
    25. Malvern Tyres (Wholesale) Limited, Gloucester, GL1, failed to pay £39,012.15 to 158 workers.        
    26. Halfords Autocentres Limited, Redditch, B98, failed to pay £38,470.94 to 760 workers.        
    27. J M McGill Ltd, Doncaster, DN4, failed to pay £38,178.62 to 364 workers.        
    28. R.T. Stuart Limited, Methil, KY8, failed to pay £37,384.89 to 310 workers.        
    29. Deluxe Beds Ltd, Huddersfield, HD2, failed to pay £27,233.68 to 64 workers.        
    30. Freedom Hotels West Limited, Nr Fort William, PH49, failed to pay £26,814.06 to 37 workers.        
    31. Mytime Active, Orpington, BR6, failed to pay £26,414.51 to 414 workers.        
    32. Parkdean Resorts UK Limited, Newcastle Upon Tyne, NE12, failed to pay £26,360.91 to 291 workers.        
    33. Whitakers Chocolates Limited, Skipton, BD23, failed to pay £26,183.83 to 141 workers.        
    34. Suttons Tankers Limited, Widnes, WA8, failed to pay £25,631.33 to 35 workers.        
    35. Health Care Resourcing Group Limited, Prescot, L34, failed to pay £25,344.45 to 86 workers.        
    36. Veecare Ltd, Loughton, IG10, failed to pay £23,567.49 to 168 workers.        
    37. Meridian Marlow Ltd, Marlow, SL7, failed to pay £22,993.97 to 66 workers.        
    38. Managing Care Limited, Croydon, CR9, failed to pay £21,834.52 to 83 workers.        
    39. Mr Sri Krishna Ratnasinkam and Mrs Saraswathy Ratnasinkam , Ringmer, BN8, failed to pay £20,504.98 to 1 worker.        
    40. M Buckingham & Company Limited        
    , Maulden, MK45, failed to pay £20,361.01 to 3 workers.        
    41. Regency Hotel (Northern Ireland) Limited, Belfast, BT3, failed to pay £19,952.21 to 201 workers.        
    42. Baxters Food Group Limited, Fochabers, IV32, failed to pay £19,765.00 to 62 workers.        
    43. Thrive Childcare and Education Limited, Musselburgh, EH21, failed to pay £19,420.47 to 24 workers.        
    44. Hillgate Investments Limited, Rotherhithe , SE16, failed to pay £19,358.74 to 40 workers.        
    45. Hilton UK Hotels Limited, Watford, WD24, failed to pay £18,924.07 to 20 workers.        
    46. Oscar Mayer Limited, Chard, TA20, failed to pay £18,830.92 to 172 workers.        
    47. BA Cityflyer Limited, West Drayton, UB7, failed to pay £17,988.39 to 102 workers.        
    48. Crystal Property Cleaning Ltd, Twickenham, TW2, failed to pay £17,767.18 to 1 worker.        
    49. Key Care And Support Ltd, Manchester, M34, failed to pay £17,649.66 to 189 workers.        
    50. Sean Elliott, Ballymena, BT42, failed to pay £17,518.00 to 1 worker.        
    51. YTC Limited, Driffield, YO25, failed to pay £17,194.32 to 226 workers.        
    52. Virtual Marketing Services (Gibraltar) Ltd, Gibraltar, GX11, failed to pay £17,155.36 to 1 worker.        
    53. Wargrave Auto Centre Limited , Hounslow, TW5, failed to pay £17,114.70 to 37 workers.        
    54. Lawrence Davis Design Limited, Stoke On Trent, ST1, failed to pay £16,936.97 to 2 workers.        
    55. BJ Bright Day Nurseries Limited, Doncaster, DN5, failed to pay £16,759.85 to 19 workers.        
    56. Thorntons Limited, Alfreton, DE55, failed to pay £16,449.00 to 444 workers.        
    57. 24/7 Security and Events Ltd, Driffield, YO25, failed to pay £15,962.00 to 74 workers.        
    58. Winemark The Winemerchants Limited, Belfast, BT3, failed to pay £15,738.33 to 186 workers.        
    59. Anochrome Limited, Walsall, WS2, failed to pay £15,600.86 to 49 workers.        
    60. Allen Day Associates Limited, Bidwell, LU5, failed to pay £15,525.26 to 387 workers.        
    61. Equitas Solicitors Limited, Preston, PR2, failed to pay £15,412.15 to 72 workers.        
    62. Kingwood Limited, Wokingham, RG40, failed to pay £15,090.99 to 1 worker.        
    63. The Eastbury (Sherbourne) Limited, Sherborne, DT9, failed to pay £14,813.03 to 7 workers.        
    64. Elmoreton Limited, Belfast, BT7, failed to pay £14,782.81 to 391 workers.        
    65. Elliott Baxter & Company Limited , Farnborough, GU12, failed to pay £14,411.44 to 43 workers.        
    66. MA Bureau Limited, Croydon, CR0, failed to pay £13,226.91 to 6 workers.        
    67. Moto Hospitality Limited, Toddington, LU5, failed to pay £13,164.96 to 734 workers.        
    68. Slo Drinks Limited, Stockport, SK3, failed to pay £12,716.05 to 1 worker.        
    69. The Crown Hotel (Colne) Limited, Colne, BB8, failed to pay £12,642.18 to 2 workers.        
    70. EA Coaching Ltd, Birmingham, B34, failed to pay £12,378.25 to 18 workers.        
    71. Hydes’ Brewery Limited, Salford, M50, failed to pay £12,281.18 to 176 workers.        
    72. Elior UK PLC, Macclesfield, SK11, failed to pay £12,198.61 to 496 workers.        
    73. Savoy Tyres Limited, Kingston Upon Hull, HU8, failed to pay £11,921.60 to 6 workers.        
    74. PK Sales & Lettings Ltd, Greenwich, SE18, failed to pay £11,885.46 to 5 workers.        
    75. Quokka Solutions Ltd, Sunderland , SR5, failed to pay £11,605.84 to 15 workers.        
    76. Elix-Irr Consulting Services Limited, London, EC2V, failed to pay £11,101.13 to 21 workers.        
    77. Go To The Venue Limited, Oswestry, SY11, failed to pay £10,974.19 to 21 workers.        
    78. JWDW Limited, Doncaster, DN4, failed to pay £10,699.64 to 21 workers.        
    79. Mr Stuart Benson, Heywood, OL10, failed to pay £10,600.34 to 1 worker.        
    80. Philip Russell Limited, Belfast, BT6, failed to pay £10,507.58 to 111 workers.        
    81. Energy Kidz Ltd, Wokingham , RG41, failed to pay £10,479.36 to 199 workers.        
    82. ABC Pre-School Limited, Culcheth, WA3, failed to pay £10,393.39 to 16 workers.        
    83. YAM 110 Limited, Bradford, BD8, failed to pay £10,021.48 to 22 workers.        
    84. Lord Charles P Courtenay, Kenton, EX6, failed to pay £9,930.78 to 1 worker.        
    85. React Homecare Ltd, Mansfield, NG21, failed to pay £9,907.42 to 127 workers.        
    86. Lutonestateandlettings Ltd, Luton, LU3, failed to pay £9,887.66 to 4 workers.        
    87. Jill Birt, Bolton, BL5, failed to pay £9,819.79 to 3 workers.        
    88. The House That Jack Built (Day Nursery) Limited, Marlow, SL7, failed to pay £9,810.00 to 8 workers.        
    89. IWE Services Limited, Staxton, YO12, failed to pay £9,803.34 to 3 workers.        
    90. At Home – Specialists in Care Ltd, Pocklington, YO42, failed to pay £9,737.27 to 26 workers.        
    91. Mr Albert Cepa, Chesterfield, S40, failed to pay £9,677.33 to 4 workers.        
    92. Top Gas Heating & Plumbing Limited, Bristol, BS15, failed to pay £9,675.90 to 4 workers.        
    93. Brookfield Retail Ltd, Dewsbury, WF12, failed to pay £9,544.19 to 52 workers.        
    94. Clock House Farm Limited, Maidstone, ME17, failed to pay £9,384.53 to 69 workers.        
    95. Panic Deliveries Limited, Oldbury , B69, failed to pay £9,362.96 to 29 workers.        
    96. Steve Kane Painting & Decorating Limited, Doncaster, DN3, failed to pay £9,317.13 to 11 workers.        
    97. Wine Inns Limited, Belfast, BT3, failed to pay £9,295.35 to 103 workers.        
    98. SOS Homecare Ltd, Stretford, M32, failed to pay £9,186.36 to 293 workers.        
    99. Parkway Derby Limited, Derby, DE24, failed to pay £9,083.64 to 11 workers.        
    100. Lashes Nails and Brows Ltd, Thornton Heath, CR7, failed to pay £9,074.84 to 3 workers.        
    101. Mrs Carol Olsen , Bedlington, NE22, failed to pay £8,988.13 to 25 workers.        
    102. Teddy Bear Nursery Limited, Rochdale, OL16, failed to pay £8,982.22 to 32 workers.        
    103. R.H. Wilson (Chemists) Limited, Blackburn, BB1, failed to pay £8,925.53 to 11 workers.        
    104. Mr James Westcott, Newport, PO30, failed to pay £8,587.49 to 33 workers.        
    105. Mr Orhan Esen, Dumfries, DG1, failed to pay £8,513.17 to 5 workers.        
    106. Waterloo and Taunton Conservative Club, Ashton-Under-Lyne, OL7, failed to pay £8,468.51 to 3 workers.        
    107. Aramark Limited, Leeds, LS16, failed to pay £8,407.77 to 154 workers.        
    108. Mr Mario Wood, Stalybridge, SK15, failed to pay £8,040.26 to 3 workers.        
    109. Mr Paul S Clerehugh T/A , Henley-On-Thames, RG9, failed to pay £8,029.07 to 20 workers.        
    110. Waggon & Horses (Matley) Ltd, Stalybridge, SK15, failed to pay £8,016.08 to 57 workers.        
    111. Rice Solutions Limited, Southport, PR8, failed to pay £7,921.26 to 2 workers.        
    112. UK Hairdressers 2019 Limited, Birmingham, B16, failed to pay £7,870.93 to 13 workers.        
    113. LIBERTY MUSIC PR LTD, Brighton, BN1, failed to pay £7,663.84 to 3 workers.        
    114. Turkuaz Limited, Cheadle, SK8, failed to pay £7,655.93 to 3 workers.        
    115. Belgravia Mews Hotel Limited, South Kensington, SW5, failed to pay £7,646.84 to 14 workers.        
    116. Start Afresh Cleaning Limited, Ipswich, IP1, failed to pay £7,630.05 to 15 workers.        
    117. Mr Atul Patel & Mr Bhikhubhai Patel, Northampton, NN5, failed to pay £7,386.13 to 1 worker.        
    118. K J Curson Growers Limited, Wisbech, PE14, failed to pay £7,311.72 to 11 workers.        
    119. Artico Limited, Monmouth, NP25, failed to pay £7,306.40 to 1 worker.        
    120. Tristan HCW Ltd, Bedford, MK41, failed to pay £7,227.75 to 7 workers.        
    121. Mainstage Festivals Limited, Southwark, SE1, failed to pay £7,089.61 to 4 workers.        
    122. Talash Limited, CV32, failed to pay £7,053.17 to 53 workers.        
    123. J D Wetherspoon Plc, Watford , WD24, failed to pay £7,000.00 to 282 workers.        
    124. Aroma Expresso Bar Limited, London, NW4, failed to pay £6,967.02 to 2 workers.        
    125. Lymedale Motors Limited, Newcastle Under Lyme, ST5, failed to pay £6,859.90 to 3 workers.        
    126. Golders Green Hairdressing Limited, Finchley, NW11, failed to pay £6,846.53 to 10 workers.        
    127. Head Office Hair and Beauty (Scotland) Ltd., Glasgow, G61, failed to pay £6,803.01 to 2 workers.        
    128. The Stair Arms Hotel Ltd, Pathhead, EH37, failed to pay £6,787.54 to 1 worker.        
    129. Springfields Supported Services Limited, Barking, IG11, failed to pay £6,693.35 to 19 workers.        
    130. Network Tyre & Auto Limited, Dartford, DA1, failed to pay £6,529.19 to 7 workers.        
    131. Specialist Computer Centres Plc, Birmingham, B11, failed to pay £6,491.66 to 28 workers.        
    132. Treetops Childrens Nursery Ltd, Blackpool, FY2, failed to pay £6,450.52 to 45 workers.        
    133. McDonald & Munro Limited, Elgin, IV30, failed to pay £6,436.10 to 2 workers.        
    134. Suez Recycling and Recovery UK Ltd, Maidenhead, SL6, failed to pay £6,387.96 to 47 workers.        
    135. Woodhall Capital Limited, London, EC4N, failed to pay £6,294.25 to 1 worker.        
    136. Mr Steven Prested, Meadowfield, DH7, failed to pay £6,207.12 to 1 worker.        
    137. Best Social Enterprise Ltd, London, SE1, failed to pay £6,171.64 to 10 workers.        
    138. The Buck House Limited, Wrexham, LL13, failed to pay £6,101.67 to 1 worker.        
    139. Mahmoud Shaduman Ali , Derby , DE23, failed to pay £6,091.90 to 6 workers.        
    140. Get Your Mobi Limited, Lancaster, LA1, failed to pay £6,069.51 to 8 workers.        
    141. Robertson Facilities Management Limited, Elgin, IV30, failed to pay £5,864.37 to 51 workers.        
    142. Orion Group London Limited, Wandsworth, SW18, failed to pay £5,818.69 to 1 worker.        
    143. Dee Kay Knitwear Ltd, Leicester, LE4, failed to pay £5,801.65 to 38 workers.        
    144. Miss J J Smart, Southampton, SO31, failed to pay £5,778.65 to 1 worker.        
    145. Zhanna Horn, Torquay, TQ2, failed to pay £5,749.66 to 2 workers.        
    146. The Fernlea Hotel Limited, Lytham St Annes, FY8, failed to pay £5,698.56 to 4 workers.        
    147. Gogo and Fried Chicken Limited, Coventry, CV1, failed to pay £5,665.58 to 9 workers.        
    148. Chess People Limited, Alderley Edge, SK9, failed to pay £5,629.12 to 1 worker.        
    149. Building Blocks Day Nursery (NI) Ltd, Toome, BT41, failed to pay £5,576.45 to 45 workers.        
    150. Mr Christopher Owston, North Shields, NE29, failed to pay £5,571.27 to 1 worker.        
    151. LJ Care Homes Ltd, Lincoln, LN4, failed to pay £5,568.84 to 56 workers.        
    152. Crossgates Stop N Shop Ltd, Leeds, LS15, failed to pay £5,545.63 to 4 workers.        
    153. BLFL Services Ltd, Burnham on Crouch, CM0, failed to pay £5,496.06 to 3 workers.        
    154. Mr Nigel Ian Fisher, Romsey, SO51, failed to pay £5,442.49 to 1 worker.        
    155. Mr Mathew James Hicks, Whitchurch, RG28, failed to pay £5,439.43 to 3 workers.        
    156. Old Town Car Wash Ltd, Hastings, TN35, failed to pay £5,422.92 to 5 workers.        
    157. London Street Brasserie Limited, Reading, RG1, failed to pay £5,343.77 to 13 workers.        
    158. Coton Care Limited, Wolverhampton, WV4, failed to pay £5,342.58 to 47 workers.        
    159. Epilepsy Society, Chalfont St Peter, SL9, failed to pay £5,293.99 to 1 worker.        
    160. Premier Work Support Limited, Chatham, ME4, failed to pay £5,272.92 to 428 workers.        
    161. Power Leisure Bookmakers Limited, Hammersmith, W6, failed to pay £5,245.57 to 257 workers.        
    162. Star Lite Jobs Limited, Ilford, IG1, failed to pay £5,237.44 to 67 workers.        
    163. Vivienne Westwood Limited, Wandsworth, SW11, failed to pay £5,232.00 to 1 worker.        
    164. A.P.C. Panels Ltd, Barry, CF63, failed to pay £5,220.60 to 7 workers.        
    165. Ghani Systems Ltd, Glasgow, G42, failed to pay £5,209.68 to 15 workers.        
    166. Taylor Dental Laboratory Limited, Leicester, LE5, failed to pay £5,189.75 to 1 worker.        
    167. MEDS2U Limited, Barnsley, S73, failed to pay £5,057.78 to 8 workers.        
    168. Total Cleaning South Limited, Manston, CT12, failed to pay £5,054.94 to 218 workers.        
    169. Decorative Panels Furniture Limited , Elland, HX5, failed to pay £5,045.43 to 62 workers.        
    170. Supercar Italia Ltd, Westerham, TN16, failed to pay £4,997.94 to 1 worker.        
    171. Miss Gemma Tattersall, Horsham, RH13, failed to pay £4,886.88 to 3 workers.        
    172. Mr Muhammed Afzal Jabarkhail , Clydebank, G81, failed to pay £4,873.12 to 1 worker.        
    173. Mr Shamim Ahmed, Braunton, EX33, failed to pay £4,867.46 to 1 worker.        
    174. Canei International Limited, Nottingham, NG10, failed to pay £4,752.20 to 1 worker.        
    175. Kitty Café Leeds Limited, Leeds, LS1, failed to pay £4,745.99 to 10 workers.        
    176. DES Healthcare Limited, Lincoln, LN5, failed to pay £4,634.94 to 36 workers.        
    177. Lakeside Day Nursery Limited , Swansea, SA6, failed to pay £4,631.93 to 3 workers.        
    178. Zayani Limited, West Drayton, UB7, failed to pay £4,593.39 to 2 workers.        
    179. Eaton Electrical Systems Limited, Doncaster, DN2, failed to pay £4,576.09 to 24 workers.        
    180. Mr Fadhil Omar Ibrahim , Ripley, DE5, failed to pay £4,482.40 to 5 workers.        
    181. Central Garage (Chesham) Ltd, Hyde Heath, HP6, failed to pay £4,416.25 to 1 worker.        
    182. Imperial College of Science, Technology and Medicine, Exhibition Road, SW7, failed to pay £4,372.16 to 1 worker.        
    183. Penrhyn Inns Limited, Oldham, OL4, failed to pay £4,324.94 to 33 workers.        
    184. Everest Hotels Limited, Powys, NP8, failed to pay £4,274.77 to 4 workers.        
    185. Coastal Heating Ltd, Sheringham, NR26, failed to pay £4,267.76 to 1 worker.        
    186. UK Solutions Limited, Chelmsford, CM1, failed to pay £4,267.22 to 28 workers.        
    187. NEO Property Solutions Limited, Leeds, LS9, failed to pay £4,263.52 to 16 workers.        
    188. Mountford House Nursery Limited, Nottingham, NG5, failed to pay £4,195.32 to 1 worker.        
    189. Major Cleaning Services Limited, Potters Bar, EN6, failed to pay £4,194.74 to 25 workers.        
    190. Witham Valeting Ltd, Witham , CM8, failed to pay £4,166.48 to 8 workers.        
    191. Parsons Bakery Limited, Bristol, BS3, failed to pay £4,134.64 to 44 workers.        
    192. Mr Amir Rasool, Langholm, DG13, failed to pay £4,083.79 to 1 worker.        
    193. Grosvenor Concierge Limited  (previously GCS Facility Services Limited), Skegness, PE25, failed to pay £4,056.99 to 120 workers.        
    194. Industrial Cleaning Services (UK) Ltd, Camden, WC1N, failed to pay £4,048.91 to 41 workers.        
    195. Spring Cleaning Services Limited, Cheltenham, GL51, failed to pay £3,989.71 to 16 workers.        
    196. Sunlit Ltd, Lewisham, SE6, failed to pay £3,973.49 to 4 workers.        
    197. Blink Productions Limited, Holloway, N7, failed to pay £3,910.06 to 4 workers.        
    198. DSM Joinery Contractors Limited, Dunfermline, KY11, failed to pay £3,905.50 to 2 workers.        
    199. Fashion Fabric Transprinters Limited, Leicester, LE4, failed to pay £3,779.70 to 2 workers.        
    200. Mrs Imogen Katherine Wyvill, Mr Marmaduke D’Arcy William Wyvill and Mr Marmaduke Charles Astey Wyvill, Leyburn, DL8, failed to pay £3,724.37 to 16 workers.        
    201. Mrs Nalani Carr, Haverhill, CB9, failed to pay £3,702.83 to 1 worker.        
    202. Temple Farm Limited, Ramsgate, CT11, failed to pay £3,696.54 to 57 workers.        
    203. Walker Outboard Services Limited, Reading, RG4, failed to pay £3,647.76 to 1 worker.        
    204. Shah Foods Ltd, Newham, E16, failed to pay £3,638.69 to 2 workers.        
    205. City Office (NI) Ltd, Belfast, BT12, failed to pay £3,622.46 to 2 workers.        
    206. Ms Stacey Baker, Doune, FK16, failed to pay £3,582.87 to 1 worker.        
    207. Joarr Hot Food Emporium Limited, Southport, PR9, failed to pay £3,564.00 to 1 worker.        
    208. St John’s Road Garage Limited, Dartford, DA2, failed to pay £3,525.63 to 1 worker.        
    209. Alanya Catering Ltd, Nottingham, NG1, failed to pay £3,489.42 to 7 workers.        
    210. Care Direct Group Limited, Eastbourne, BN21, failed to pay £3,484.98 to 35 workers.        
    211. Baudelaire Limited, Alresford , SO24, failed to pay £3,454.06 to 1 worker.        
    212. House Of Glamour Limited, East Dulwich, SE22, failed to pay £3,433.06 to 1 worker.        
    213. Oshibori Scotland Ltd, Dundee, DD1, failed to pay £3,328.44 to 5 workers.        
    214. Yatab Company Ltd, Rainham, RM13, failed to pay £3,292.77 to 7 workers.        
    215. Cheeky Monkey Day Nurseries Limited, Birmingham, B15, failed to pay £3,272.93 to 22 workers.        
    216. S & W Developments Limited, Doncaster, DN5, failed to pay £3,253.46 to 1 worker.        
    217. The Lady Cleaner Ltd, Eastbourne, BN23, failed to pay £3,233.28 to 26 workers.        
    218. Mi Casa Care Ltd, Mansfield, NG19, failed to pay £3,221.07 to 23 workers.        
    219. SNC-LAVALIN RAIL & TRANSIT LIMITED, Epsom, KT18, failed to pay £3,212.78 to 11 workers.        
    220. Little Flowers Limited, Renfrew, PA4, failed to pay £3,162.05 to 1 worker.        
    221. Little Ducklings Day Nursery (Garstang) Limited, Preston, PR3, failed to pay £3,157.18 to 1 worker.        
    222. Fresh 75 Limited, Newport, PO30, failed to pay £3,132.90 to 1 worker.        
    223. Excel Parking Services Limited, Sheffield, S9, failed to pay £3,124.95 to 14 workers.        
    224. Mr Simon Foster and Mrs Jane Foster, Skipton, BD23, failed to pay £3,124.66 to 1 worker.        
    225. Mr Daniel Jenkinson , Preston, PR1, failed to pay £3,104.72 to 1 worker.        
    226. Spanners & Sparks (EK) Limited, Glasgow, G75, failed to pay £3,093.15 to 5 workers.        
    227. Central Electrical Contracts Limited, Wolverhampton, WV6, failed to pay £3,086.28 to 5 workers.        
    228. Branded Housewares Limited, Wolverhampton, WV2, failed to pay £3,066.72 to 4 workers.        
    229. Valerie Anne Sheen , Honiton, EX14, failed to pay £3,057.10 to 18 workers.        
    230. Rosebridge Private Day Nursery Limited, Wigan, WN1, failed to pay £3,056.94 to 19 workers.        
    231. Elite Motors Bodyshop Limited, Northampton, NN5, failed to pay £3,055.68 to 8 workers.        
    232. Roux Waterside Inn Limited, Bray, SL6, failed to pay £3,022.52 to 19 workers.        
    233. P.B Services (Wales) Limited, Mountain Ash, CF45, failed to pay £3,008.30 to 2 workers.        
    234. Lostock Hall Academy Trust, Preston, PR5, failed to pay £2,993.98 to 2 workers.        
    235. Taylor Shaw Limited, Macclesfield, SK11, failed to pay £2,958.43 to 2 workers.        
    236. Sage Hair Care (Salons) Limited, Cardiff, CF5, failed to pay £2,938.09 to 3 workers.        
    237. Mr Andrew Petrou, Walworth, SE17, failed to pay £2,907.33 to 1 worker.        
    238. Crystal Car Wash and Valeting Ltd, Loughborough, LE11, failed to pay £2,852.00 to 1 worker.        
    239. KEYSIGNS LIMITED, Bellshill, ML4, failed to pay £2,851.78 to 4 workers.        
    240. Centerplate UK Limited, Camden, WC1B, failed to pay £2,829.64 to 167 workers.        
    241. MN Support Services Limited, Queens Park, W10, failed to pay £2,829.17 to 294 workers.        
    242. Kirklees Active Leisure , Huddersfield, HD1, failed to pay £2,821.46 to 18 workers.        
    243. Marsden Healthcare Limited, Nelson, BB9, failed to pay £2,811.05 to 22 workers.        
    244. Mrs Michelle S Chandler, Birmingham, B44, failed to pay £2,806.72 to 2 workers.        
    245. Jamie Stevens (Kensington) Ltd, Kensington, W8, failed to pay £2,779.88 to 2 workers.        
    246. Filco Supermarkets Limited, Llantwit Major, CF61, failed to pay £2,772.41 to 118 workers.        
    247. AFH Ltd, Cardiff, CF24, failed to pay £2,771.99 to 4 workers.        
    248. Ms Philippa Funnell, Dorking, RH5, failed to pay £2,746.65 to 2 workers.        
    249. Kids at Heart (Harrogate) Limited, Knaresborough, HG5, failed to pay £2,746.08 to 3 workers.        
    250. Sparkle Cleaning Co. (London) Limited, Croydon, CR5, failed to pay £2,732.94 to 25 workers.        
    251. Lexington Catering Limited, Camden, EC4N, failed to pay £2,714.52 to 64 workers.        
    252. What A Hoot Day Nursery Limited, Blyth, NE24, failed to pay £2,712.53 to 4 workers.        
    253. Mr Andy B Fitzsimmons, Mr Ford B Fitzsimmons and Mrs Theresa G Fitzsimmons, Kilwinning, KA13, failed to pay £2,694.78 to 15 workers.        
    254. QSO Ltd, Leeds, LS4, failed to pay £2,675.41 to 10 workers.        
    255. Parkers Pets Limited, Southsea, PO5, failed to pay £2,665.49 to 2 workers.        
    256. Kazoku Restaurant Group Ltd, Sevenoaks, TN13, failed to pay £2,665.15 to 1 worker.        
    257. Madames Hair & Beauty Limited, Swindon, SN3, failed to pay £2,656.41 to 1 worker.        
    258. Acerta Group Limited , Warwick, CV34, failed to pay £2,629.00 to 13 workers.        
    259. London Auto Parts Limited, Wembley, HA0, failed to pay £2,622.17 to 2 workers.        
    260. Killan Structural Limited, Oldham, OL3, failed to pay £2,620.45 to 2 workers.        
    261. Sandersons (N.W.) Ltd, Blackpool, FY4, failed to pay £2,603.82 to 3 workers.        
    262. A & K Home Care Services Ltd, Napton, CV47, failed to pay £2,603.14 to 78 workers.        
    263. Chaplins Hotel Limited, Blackpool, FY1, failed to pay £2,586.56 to 2 workers.        
    264. Calmac Developments Limited, Dumfries, DG2, failed to pay £2,583.77 to 17 workers.        
    265. La Reserve Aparthotel (Manchester) Limited, Manchester, M1, failed to pay £2,567.66 to 13 workers.        
    266. Ultimate Stores Limited, London, NW1, failed to pay £2,560.34 to 4 workers.        
    267. Drayton Manor Resort Limited, Tamworth, B78, failed to pay £2,559.58 to 25 workers.        
    268. Community Foundation, Birmingham, B19, failed to pay £2,500.24 to 2 workers.        
    269. D and G Pub Company Limited, Darlington, DL3, failed to pay £2,498.17 to 35 workers.        
    270. Poplars Blossoms Nursery School Limited, Nottingham, NG5, failed to pay £2,494.39 to 1 worker.        
    271. Vonsung Limited, Islington, EC1Y, failed to pay £2,485.20 to 1 worker.        
    272. Cornish Premier Pasties Limited, Newquay, TR9, failed to pay £2,467.45 to 53 workers.        
    273. The Clansmans Rest Ltd, Glasgow, G40, failed to pay £2,417.22 to 3 workers.        
    274. Natural Care 53 Limited, Manchester, M12, failed to pay £2,412.03 to 1 worker.        
    275. TKE Landscaping Ltd, Wendens Ambo, CB11, failed to pay £2,403.16 to 3 workers.        
    276. Mockingbird Lane Ltd, Glasgow, G11, failed to pay £2,387.07 to 1 worker.        
    277. Mr Patrick G Neilan, Glasgow, G43, failed to pay £2,383.29 to 2 workers.        
    278. Brean Leisure Park Ltd, Berrow, Burnham-on-Sea, TA8, failed to pay £2,371.57 to 12 workers.        
    279. Davidsons Plumbing & Heating Limited , Bristol, BS5, failed to pay £2,349.54 to 4 workers.        
    280. Motor Body Centre Limited, Birmingham, B18, failed to pay £2,346.49 to 1 worker.        
    281. S & S Care (UK) Limited, Caergwrle, LL12, failed to pay £2,340.72 to 49 workers.        
    282. Kelton Nursery, Liverpool, L18, failed to pay £2,334.79 to 10 workers.        
    283. Asset India Limited, Harrow, HA1, failed to pay £2,334.54 to 2 workers.        
    284. Safegas UK Ltd, Swinton, M27, failed to pay £2,277.54 to 1 worker.        
    285. Mert GB 2 Limited, East Ham, E6, failed to pay £2,261.38 to 1 worker.        
    286. Hallwell Projects Ltd, Plymouth, PL1, failed to pay £2,211.32 to 3 workers.        
    287. Mr Andrew Roy Milward, Pembroke Dock, SA72, failed to pay £2,205.31 to 1 worker.        
    288. R & R Retail UK Limited, Luton, LU4, failed to pay £2,201.05 to 16 workers.        
    289. Salon IPS Ltd, Ipswich, IP4, failed to pay £2,189.12 to 1 worker.        
    290. Mr Narinder Kumar Nar, Birmingham, B18, failed to pay £2,173.86 to 2 workers.        
    291. Old Mill Holiday Park Limited, St Helens, PO33, failed to pay £2,172.06 to 1 worker.        
    292. Ms Caroline Wright, Birmingham, B43, failed to pay £2,170.63 to 1 worker.        
    293. Dolphin Care (IOW) Limited, Wroxall Ventnor, PO38, failed to pay £2,155.09 to 6 workers.        
    294. Whistledown Inn Limited, Newry, BT34, failed to pay £2,154.29 to 46 workers.        
    295. Renegade Hair Studio Limited, Leeds, LS2, failed to pay £2,148.74 to 1 worker.        
    296. Lethendy Cheltenham Limited, Cheltenham, GL53, failed to pay £2,144.90 to 44 workers.        
    297. Heminstone Estates Limited, Colchester, CO2, failed to pay £2,137.35 to 10 workers.        
    298. S Leicester Ltd, Leicester, LE5, failed to pay £2,127.17 to 38 workers.        
    299. GB Vape Limited, Heckmondwike, WF16, failed to pay £2,119.82 to 7 workers.        
    300. P McCarthy Limited, Brandon, IP27, failed to pay £2,108.75 to 9 workers.        
    301. K. Foley Limited, Great Blakenham, NR2, failed to pay £2,104.81 to 94 workers.        
    302. AGL Attractions Limited , Burnham-On-Sea, TA8, failed to pay £2,090.06 to 24 workers.        
    303. Techlogico Limited, Knottingley, WF11, failed to pay £2,056.43 to 6 workers.        
    304. Mr Iain Stewart Matheson, Paisley, PA1, failed to pay £2,036.50 to 6 workers.        
    305. GLASGOW WATERLOO LIMITED, Glasgow, G2, failed to pay £2,020.36 to 41 workers.        
    306. R J Ferguson Company Limited, Stewartstown, BT71, failed to pay £2,014.04 to 3 workers.        
    307. Ms Susan Meheux, Southampton, SO31, failed to pay £2,008.66 to 12 workers.        
    308. Mr David Odudu, Sheffield, S9, failed to pay £1,992.53 to 1 worker.        
    309. Mr Hazar Ibrahim Hamid, Doncaster, DN5, failed to pay £1,961.64 to 5 workers.        
    310. M&C Jones Building Contractors Limited, Rhyl, LL18, failed to pay £1,954.46 to 2 workers.        
    311. Hi-Spec Facilities Services Ltd, Dartford, DA2, failed to pay £1,938.75 to 96 workers.        
    312. Calibre Building & Decorating Services Limited, Lichfield, WS13, failed to pay £1,937.89 to 1 worker.        
    313. CPM Electrical Ltd, Omagh, BT79, failed to pay £1,937.71 to 4 workers.        
    314. Ashbrook Roofing & Supplies Limited, Nr Matlock, DE4, failed to pay £1,912.65 to 5 workers.        
    315. Mr Thomas Hutchison, Prestonpans, EH32, failed to pay £1,901.44 to 1 worker.        
    316. Mr Khalid Javid, Chester, CH2, failed to pay £1,891.42 to 1 worker.        
    317. South Golden Mountain Limited, Eastbourne, BN21, failed to pay £1,888.52 to 1 worker.        
    318. Oldbury Grange Nursing Home Ltd, Nuneaton, CV10, failed to pay £1,878.02 to 65 workers.        
    319. OC Electric Limited, Benton, NE12, failed to pay £1,869.32 to 1 worker.        
    320. Seagrave Decorations Limited, Kettering, NN16, failed to pay £1,847.76 to 4 workers.        
    321. Little Angels Fun Club and Nursery Limited, Bedlington, NE22, failed to pay £1,832.96 to 92 workers.        
    322. GAPJ Ivinghoe Ltd, Leighton Buzzard, LU7, failed to pay £1,828.25 to 5 workers.        
    323. Vapour C Co Ltd, Gillingham, ME7, failed to pay £1,822.57 to 2 workers.        
    324. Wide Range Services Limited, Hull, HU12, failed to pay £1,816.72 to 1 worker.        
    325. Hughes (Family Bakers) Holdings Limited, Bradford, BD18, failed to pay £1,811.57 to 26 workers.        
    326. A W Pettitt Limited, Windermere, LA23, failed to pay £1,810.90 to 5 workers.        
    327. Smartway Holding Limited, Holloway, N7, failed to pay £1,800.00 to 1 worker.        
    328. Beaux Health and Wellbeing Ltd, Taunton, TA1, failed to pay £1,791.96 to 1 worker.        
    329. Saggiomo Luxury Foods Limited, Croydon, CR0, failed to pay £1,787.60 to 1 worker.        
    330. John Clark (Holdings) Limited , Aberdeen, AB12, failed to pay £1,785.63 to 5 workers.        
    331. Swiftclean (UK) Limited, Southend-on-Sea, SS2, failed to pay £1,761.48 to 5 workers.        
    332. Reachout Healthcare Limited, Stockport, SK5, failed to pay £1,757.42 to 31 workers.        
    333. Mr Ian T Henderson, Accrington, BB5, failed to pay £1,740.90 to 2 workers.        
    334. Clarke Group Construction Limited, Wyberton, PE21, failed to pay £1,736.49 to 1 worker.        
    335. MRB Cleaning Limited, Swansea, SA1, failed to pay £1,733.88 to 1 worker.        
    336. Mr John Fulton Allen & Mr John Gary King,  Strabane, BT82, failed to pay £1,725.59 to 1 worker.        
    337. Belmont Hotel (Leicester) Limited, Leicester, LE1, failed to pay £1,710.28 to 36 workers.        
    338. Mini Me Private Day Nursery Limited, Newport, NP19, failed to pay £1,708.33 to 15 workers.        
    339. Glow Trade Ltd, Leicester, LE5, failed to pay £1,706.46 to 20 workers.        
    340. Mr Jason Hearn, Taunton, TA1, failed to pay £1,706.12 to 2 workers.        
    341. Country Park Leisure Limited, Hessle, HU13, failed to pay £1,705.13 to 13 workers.        
    342. C & C Precision Engineering Services Limited, Rowley Regis, B65, failed to pay £1,704.30 to 1 worker.        
    343. Karen Jeffrey , Wishaw, ML2, failed to pay £1,683.58 to 4 workers.        
    344. DNA Cleaning Solutions Limited, Twickenham, TW2, failed to pay £1,670.29 to 25 workers.        
    345. Assured Care (Stockport) Ltd., Stockport, SK1, failed to pay £1,666.57 to 79 workers.        
    346. Graylaw International Freight Group Ltd, Skelmersdale, WN8, failed to pay £1,663.46 to 7 workers.        
    347. SPI Trading Limited, Lisburn , BT28, failed to pay £1,656.74 to 3 workers.        
    348. Executive Hire Ltd., Glasgow, G74, failed to pay £1,650.54 to 3 workers.        
    349. Accelerate Cleaning Solutions Ltd, Ipswich, IP7, failed to pay £1,650.38 to 106 workers.        
    350. LGH Plumbing & Heating Services Limited, Leigh, WN7, failed to pay £1,624.77 to 1 worker.        
    351. Samuel Eales Silverware Limited, Sheffield, S3, failed to pay £1,619.79 to 1 worker.        
    352. High Grove Beds Limited, Liversedge, WF15, failed to pay £1,610.43 to 8 workers.        
    353. Shakes n Cakes Aberdeen Ltd, Aberdeen, AB24, failed to pay £1,597.98 to 1 worker.        
    354. Bespoke Cuisine Ltd, Bethnal Green, EC1V, failed to pay £1,587.04 to 1 worker.        
    355. Mascallkelly Limited, Cleveland, TS12, failed to pay £1,576.59 to 19 workers.        
    356. Sher Gill Enterprises Limited, Dunoon, PA23, failed to pay £1,557.58 to 1 worker.        
    357. Ms Hiromi Sato, London, SW4, failed to pay £1,551.71 to 2 workers.        
    358. R.Loughlin Electrical Services Ltd, Castlederg, BT81, failed to pay £1,542.58 to 3 workers.        
    359. Papermoon Nurseries (Boultham Park) Limited, Lincoln, LN6, failed to pay £1,535.25 to 11 workers.        
    360. SB Rom Food Center Ltd, Hounslow, TW3, failed to pay £1,533.80 to 9 workers.        
    361. Mr Robert Pontefract, Stamford, PE9, failed to pay £1,531.55 to 1 worker.        
    362. Grant Leisure Group Limited, Blackpool, FY3, failed to pay £1,495.62 to 15 workers.        
    363. Everbright Lodge Ltd, Llangollen, LL20, failed to pay £1,475.07 to 25 workers.        
    364. Biscuit Clothing Ltd, Edinburgh, EH10, failed to pay £1,469.89 to 1 worker.        
    365. Brockencote Hall Hotel Limited, Leamington Spa, CV33, failed to pay £1,468.25 to 19 workers.        
    366. Mr Francis Joseph McParland and Mr Peter Liam McParland , Armagh, BT61, failed to pay £1,466.04 to 4 workers.        
    367. Colemans Garden Centre Ltd, Templepatrick, BT39, failed to pay £1,450.11 to 35 workers.        
    368. Southcoast Homecare Ltd, Chichester, PO19, failed to pay £1,438.93 to 9 workers.        
    369. Booth & Stirland Limited, Ripley, DE5, failed to pay £1,434.97 to 3 workers.        
    370. Grieve Decor Limited, Berwick Upon Tweed, TD15, failed to pay £1,415.11 to 2 workers.        
    371. Barry Tyre Centre Limited, Barry, CF63, failed to pay £1,408.88 to 1 worker.        
    372. Piddle Brewery Limited, Dorchester, DT2, failed to pay £1,407.79 to 1 worker.        
    373. Forseti Law Ltd, Bolton, BL1, failed to pay £1,403.87 to 1 worker.        
    374. Wash Me Clean Ltd, Bracknell, RG12, failed to pay £1,400.27 to 1 worker.        
    375. Colonnade (Operator) Limited, Little Venice, W9, failed to pay £1,385.11 to 1 worker.        
    376. Mario Gianni Limited, Stockport, SK7, failed to pay £1,378.94 to 3 workers.        
    377. Moyo’s Brothers Limited, Brighton, BN1, failed to pay £1,373.14 to 2 workers.        
    378. Atticus Cleaning Services Limited, Altrincham, WA14, failed to pay £1,364.89 to 1 worker.        
    379. Mrs Jane Boome and Miss Verity Jane Boome, Peterborough, PE7, failed to pay £1,360.84 to 13 workers.        
    380. Get Grip Auto Ltd, Cheltenham, GL53, failed to pay £1,348.25 to 2 workers.        
    381. Downs Holdings Limited, Yarm, TS15, failed to pay £1,339.48 to 8 workers.        
    382. Direct Cleaning Services (Oxford) Limited, Weston-Super-Mare, BS22, failed to pay £1,323.74 to 1 worker.        
    383. Viv Designs Ltd, Gravesend, DA12, failed to pay £1,317.95 to 1 worker.        
    384. Sycamore Farm Park Limited, Skegness, PE24, failed to pay £1,311.54 to 2 workers.        
    385. SMK Building & Joinery Contractors Ltd, Todmorden, OL14, failed to pay £1,297.16 to 1 worker.        
    386. Richard Tate Limited, Leeds, LS10, failed to pay £1,294.02 to 1 worker.        
    387. JDP Hotels Ltd, Wakefield, WF2, failed to pay £1,289.98 to 34 workers.        
    388. Miss Abby Fox, Widnes, WA8, failed to pay £1,270.35 to 10 workers.        
    389. Polish Village Bakery Ltd, Manchester , M17, failed to pay £1,267.37 to 43 workers.        
    390. ENERGY DUNDEE 4 U LTD , Dundee, DD4, failed to pay £1,263.65 to 15 workers.        
    391. Synvestment Ltd, High Wycombe, HP12, failed to pay £1,262.39 to 2 workers.        
    392. Peony Culture Communication Limited, Newcastle Upon Tyne, NE1, failed to pay £1,247.02 to 1 worker.        
    393. Easy Clean Contractors Limited, Peterborough, PE7, failed to pay £1,246.92 to 125 workers.        
    394. R Binks Construction Limited, Bolton, BL2, failed to pay £1,244.33 to 3 workers.        
    395. Mrs Julie Shaw, Knaresborough, HG5, failed to pay £1,231.68 to 20 workers.        
    396. Mrs Karaimjit Gill, Barry, CF63, failed to pay £1,230.73 to 1 worker.        
    397. Mcaleer & McGarrity Ltd, Cookstown, BT80, failed to pay £1,207.77 to 2 workers.        
    398. M.P.M Consumer Products Limited, Manchester, M11, failed to pay £1,205.73 to 32 workers.        
    399. K.L.N. Limited , Brent, NW6, failed to pay £1,203.83 to 2 workers.        
    400. GMD SERVICES LIMITED, Kingston Upon Hull, HU3, failed to pay £1,193.24 to 2 workers.        
    401. C.V.East Ltd, Colchester , CO1, failed to pay £1,185.68 to 7 workers.        
    402. Mr Jonathan Hope and Mr Charlie Hope, Slough, SL3, failed to pay £1,183.12 to 3 workers.        
    403. Belshaw Bookkeeping Services Limited, Bacup, OL13, failed to pay £1,179.76 to 1 worker.        
    404. D Allen Transport Limited, St Helens, WA9, failed to pay £1,178.73 to 4 workers.        
    405. Mrs S & Mr G Clough, Bradford, BD12, failed to pay £1,162.79 to 1 worker.        
    406. Golden Cue Snooker Club Limited, Bilston, WV14, failed to pay £1,147.43 to 1 worker.        
    407. South Wales Building and Construction Limited, Newport, NP11, failed to pay £1,135.47 to 2 workers.        
    408. Form Communal Maintenance Limited, Hartford, CW8, failed to pay £1,131.97 to 1 worker.        
    409. SMS Bars Limited, Stockport, SK1, failed to pay £1,115.11 to 2 workers.        
    410. Grace Construction and Management Ltd, Derby, DE1, failed to pay £1,113.49 to 1 worker.        
    411. Alveston House Hotel Limited, Thornbury, BS35, failed to pay £1,109.12 to 1 worker.        
    412. Mrs Pearl Moore, Blackpool, FY4, failed to pay £1,094.75 to 3 workers.        
    413. Think Wraps Ltd, Poole, BH12, failed to pay £1,053.08 to 1 worker.        
    414. Telebizz Ltd, Plymouth, PL7, failed to pay £1,048.56 to 72 workers.        
    415. Hill Top Day Nursery Limited, Swadlincote, DE12, failed to pay £1,041.04 to 2 workers.        
    416. W. Corbett & Co. (Galvanizing) Limited, Telford, TF7, failed to pay £1,039.53 to 36 workers.        
    417. Autocare (Benfleet) Limited, Stanford-Le-Hope, SS17, failed to pay £1,032.23 to 2 workers.        
    418. Pork Farms Limited, Nottingham, NG2, failed to pay £1,029.77 to 9 workers.        
    419. Galdin Limited, Hackney, N1, failed to pay £1,024.50 to 5 workers.        
    420. Trinity Park Nursery Ltd, Craigavon, BT67, failed to pay £1,020.97 to 17 workers.        
    421. Mr Thanabalasingam Ketheeswarathas and Mrs Sivasuki Ketheeswarathas, Ipswich, IP2, failed to pay £1,006.83 to 2 workers.        
    422. G P H Carpentry Limited, Newquay, TR8, failed to pay £1,003.04 to 2 workers.        
    423. Euro Car Wash (South East) Limited, Greenwich, SE7, failed to pay £992.56 to 3 workers.        
    424. Mrs Melanie Elizabet Brown, Kirkcaldy, KY1, failed to pay £986.58 to 1 worker.        
    425. A O Hand Car Wash & Valeting Ltd, Peckham, SE15, failed to pay £982.62 to 3 workers.        
    426. Dash-Cae Limited, Oxford, OX14, failed to pay £976.19 to 1 worker.        
    427. Janette Allen Limited, Braintree, CM77, failed to pay £976.18 to 1 worker.        
    428. Ms Sarah Balfour, York, YO10, failed to pay £967.87 to 1 worker.        
    429. Allied Industrial Products Limited, Salford, M5, failed to pay £955.78 to 1 worker.        
    430. Cummins Ltd, Darlington, DL1, failed to pay £954.04 to 11 workers.        
    431. Ramsbottom Cricket Club, Bury, BL0, failed to pay £931.67 to 2 workers.        
    432. Soughton Shoot Limited, Northop, Mold,, CH7, failed to pay £927.24 to 1 worker.        
    433. Mrs Penni Durdy, Doncaster, DN9, failed to pay £924.04 to 1 worker.        
    434. Friends Care Agency Limited, Sandy, SG19, failed to pay £923.84 to 20 workers.        
    435. French Connection UK Limited, Camden, NW1, failed to pay £917.95 to 57 workers.        
    436. Precision Workwear Limited, Stamford, PE9, failed to pay £916.35 to 1 worker.        
    437. Joinex Joinery Express Limited, Brentford, TW8, failed to pay £882.61 to 12 workers.        
    438. Yorkcloud Limited, Ulverston, LA12, failed to pay £872.20 to 2 workers.        
    439. KR Scotland Ltd, Edinburgh, EH3, failed to pay £849.21 to 3 workers.        
    440. The KLE (Berwick) Group Ltd, Berwick Upon Tweed, TD15, failed to pay £838.48 to 2 workers.        
    441. Zig Zag Day Nursery Limited, Peterborough, PE1, failed to pay £827.98 to 21 workers.        
    442. Birdies Day Nursery Limited, Lisburn, BT28, failed to pay £821.32 to 8 workers.        
    443. Sooty Olive Ltd, Waterside, BT47, failed to pay £819.24 to 33 workers.        
    444. Bright Bees Nursery Ltd, Leicester, LE4, failed to pay £817.06 to 1 worker.        
    445. What The Fish Limited, Richmond upon Thames, SW14, failed to pay £801.08 to 1 worker.        
    446. SFC (Edmonton) Limited, Enfield, N9, failed to pay £798.22 to 2 workers.        
    447. Fairytales Day Nursery Limited, Dudley, DY2, failed to pay £793.38 to 7 workers.        
    448. R.G.R. Garages (Cranfield) Limited, Bedford, MK43, failed to pay £791.65 to 1 worker.        
    449. Mad Goose Catering Limited, Ellington, PE28, failed to pay £788.54 to 3 workers.        
    450. Mr Grzegorz Biezunski, Trowbridge, BA14, failed to pay £787.80 to 1 worker.        
    451. Futurerate Limited, Loughborough, LE12, failed to pay £787.20 to 1 worker.        
    452. Kids Korner Day Nurseries Ltd, Belfast, BT6, failed to pay £779.81 to 23 workers.        
    453. Inter County Cleaning Services Limited, Rushden, NN10, failed to pay £754.38 to 106 workers.        
    454. Spring Clean Commercial Ltd, Norwich, NR16, failed to pay £753.17 to 107 workers.        
    455. Clean Living Services Limited, Lambeth, SW8, failed to pay £749.48 to 16 workers.        
    456. Le Petit Francais Ltd, Edinburgh, EH6, failed to pay £744.52 to 10 workers.        
    457. Playworks Childcare Limited, Caerphilly, CF83, failed to pay £743.64 to 5 workers.        
    458. Wickhambrook Stores Limited, Newmarket, CB8, failed to pay £729.88 to 1 worker.        
    459. Rothco Independent Mortgages Ltd, Alnwick, NE66, failed to pay £729.83 to 1 worker.        
    460. James David Segal, Hull, HU1, failed to pay £729.22 to 6 workers.        
    461. Daniel Thwaites Public Limited Company, Blackburn, BB2, failed to pay £724.73 to 23 workers.        
    462. HRUK Group of Companies Ltd, Leeds, LS8, failed to pay £719.11 to 1 worker.        
    463. Historic Hotels & Properties Ltd, Scarborough, YO11, failed to pay £707.11 to 5 workers.        
    464. Penge Car Care ltd, Croydon, SE25, failed to pay £682.48 to 2 workers.        
    465. Craig Gordon Building Services Ltd, Edinburgh, EH11, failed to pay £680.17 to 1 worker.        
    466. Mountview Hotels Ltd, Callander, FK17, failed to pay £672.60 to 1 worker.        
    467. Paragon Quality Foods Ltd, Doncaster, DN3, failed to pay £670.56 to 21 workers.        
    468. Core Electrical Solutions Ltd, Beckenham, BR3, failed to pay £658.78 to 2 workers.        
    469. Snacks Van Ltd, Watford, WD25, failed to pay £658.20 to 1 worker.        
    470. MacDonald Hotels (Management) Limited, Bathgate, EH48, failed to pay £648.78 to 1 worker.        
    471. Kelly Teggin Hairdressing Ltd, Knaresborough, HG5, failed to pay £647.19 to 1 worker.        
    472. Safe Gas (N.I.) Limited, Newtonabbey, BT36, failed to pay £639.10 to 1 worker.        
    473. Harrison Wade Ltd, Manchester, M1, failed to pay £636.04 to 2 workers.        
    474. Spectrum Energy Guard Ltd, Bournemouth, BH1, failed to pay £621.72 to 1 worker.        
    475. Gastronomy Foods UK Limited, Shrewsbury, SY1, failed to pay £618.76 to 51 workers.        
    476. Jobseekrs Limited, Manchester, M15, failed to pay £613.88 to 1 worker.        
    477. Stepping-Stones-Services Limited, Rochdale, OL11, failed to pay £611.13 to 19 workers.        
    478. Tramp Hair Boutique Limited, Stockport, SK1, failed to pay £610.40 to 1 worker.        
    479. Emporio Fashion Ltd, Leicester, LE5, failed to pay £608.85 to 18 workers.        
    480. Halton Concrete Ltd, Widnes, WA8, failed to pay £607.43 to 2 workers.        
    481. Kanto Stranmillis Limited, Belfast, BT9, failed to pay £590.15 to 1 worker.        
    482. Complete Payroll and Accountancy Limited, Altrincham, M33, failed to pay £584.24 to 1 worker.        
    483. Flawless Cleaning Ltd, Smethwick, B66, failed to pay £582.02 to 1 worker.        
    484. Al Halal Supermarket Limited , Bradford, BD7, failed to pay £581.64 to 7 workers.        
    485. Max & Molly Limited, Wigan, WN3, failed to pay £579.96 to 1 worker.        
    486. Happy Children Day Nursery Limited, Ballynahinch, BT24, failed to pay £573.74 to 12 workers.        
    487. Jagard Valeting & Cleaning Services Ltd, Wellingborough, NN8, failed to pay £573.47 to 2 workers.        
    488. 247 Convenience Store (Bury) Ltd, Bury, BL8, failed to pay £571.63 to 1 worker.        
    489. The Race Horses Hotel Limited, Skipton, BD23, failed to pay £566.05 to 2 workers.        
    490. Strategic Facilities Management Ltd, Leeds, LS17, failed to pay £561.18 to 3 workers.        
    491. Mr C Saudin & Mrs P Saudin, Canterbury, CT1, failed to pay £560.48 to 2 workers.        
    492. Golden Car Limited , Perivale, UB6, failed to pay £551.80 to 1 worker.        
    493. Your Friendly Local Limited, Rotherham, S60, failed to pay £549.95 to 6 workers.        
    494. Steven Boom, East Hunsbury, NN4, failed to pay £547.20 to 2 workers.        
    495. M A Fashions Ltd, Leicester, LE5, failed to pay £545.60 to 17 workers.        
    496. Comserv Contracting & Commercial Limited, Stoke-on-Trent, ST3, failed to pay £544.19 to 1 worker.        
    497. Bonner Studs Limited, Walsall, WS2, failed to pay £537.45 to 1 worker.        
    498. M & C Retail Limited, Darlington, DL1, failed to pay £537.36 to 4 workers.        
    499. Legacy Resorts Limited, Newton Stewart, DG8, failed to pay £536.69 to 1 worker.        
    500. E.K.S Living Clean Ltd, Norwich, NR6, failed to pay £533.58 to 5 workers.        
    501. SC HCW Ltd, Belfast, BT5, failed to pay £533.54 to 7 workers.        
    502. David Alexander Forbes, Inverurie, AB51, failed to pay £531.64 to 2 workers.        
    503. Arunagiri UK LTD, Rickmansworth, WD3, failed to pay £530.92 to 2 workers.        
    504. Millfield Haulage Limited, York, YO26, failed to pay £530.91 to 2 workers.        
    505. Ardmore (Co. Derry) Pre-Cast Concrete Limited, Ardmore, BT47, failed to pay £525.69 to 1 worker.        
    506. W1 Soho Ltd., Soho, W1D, failed to pay £523.20 to 1 worker.        
    507. Shree Siddhi Limited, Glasgow, G66, failed to pay £515.76 to 7 workers.        
    508. 41 Cars Hull Ltd, Hull, HU9, failed to pay £515.72 to 2 workers.        
    509. Felix Inns Ltd, Solihull, B92, failed to pay £514.09 to 20 workers.        
    510. Eastchurch Holiday Centre Limited, Eastchurch, ME12, failed to pay £511.70 to 1 worker.        
    511. Surf N Turf Limited, Leicester, LE2, failed to pay £511.63 to 2 workers.        
    512. Red House Garage Limited, St Helens, WA11, failed to pay £511.43 to 1 worker.        
    513. Classic Decorators (UK) Limited, Barry, CF63, failed to pay £511.43 to 1 worker.        
    514. John Codona’s Pleasure Fairs Limited, Aberdeen, AB24, failed to pay £505.82 to 3 workers.        
    515. Timberquay Limited, Derry, BT48, failed to pay £503.98 to 14 workers.        
    516. Ace Support FM Ltd, Barnet, N14, failed to pay £501.60 to 1 worker.        
    517. Sleepwell (Cumbria) Limited, Barrow In Furness, LA14, failed to pay £500.95 to 1 worker.        
    518. Blank Brixton Ltd, Brixton, SW2, failed to pay £287.31 to 1 worker.        

    Updates to this page

    Published 29 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Statement: UK and EU welcome Viet Nam JETP progress

    Source: United Kingdom – Government Statements

    Press release

    Statement: UK and EU welcome Viet Nam JETP progress

    The UK and EU welcome progress on Viet Nam’s Just Energy Transition Partnership as President Macron of France visits the country

    On behalf of the International Partners Group (IPG), the European Union and the United Kingdom – IPG co-leads for the Viet Nam Just Energy Transition Partnership (JETP) – warmly welcome French President Emmanuel Macron’s visit to Viet Nam, reaffirming support for Viet Nam’s goal to deliver a clean energy transition that is inclusive and rooted in sustainable growth on the pathway to ‘net zero’ emissions by 2050.  

    On 26th May, President Macron and President Lương Cường announced progress on two important JETP-supported investment projects:

    • A Credit Financing Agreement between Electricity of Vietnam National Power Transmission Corporation (EVN NPT) and Agence Française de Développement (AFD) of €67 million to build a 500kV transmission line and substations across the Binh Duong and Dong Nai provinces. This project will increase the national transmission network’s capacity to integrate renewable energy and deliver reliable electricity in key economic regions in southern Viet Nam.

    • A Memorandum of Understanding (MoU) between EVN and AFD as coordinator of six IPG Development Finance Institutions (AFD, EIB, JICA, KfW, CDP, and Proparco) and the EU, acknowledging €490 million for the construction of the first 1200 MW Pumped Storage Hydropower project in Vietnam located in Bac Ai, Ninh Thuan province. This large-scale energy storage project will improve grid resilience and enable further integration of variable renewable energy sources into Vietnam’s energy mix. This pilot project also contributes to the development of regulatory, financial, and investment approaches, paving the way for related future partnerships.

    France’s and IPG’s €547 million financial contribution to these two flagship energy transition projects marks an important step towards delivering the public finance commitments under the JETP.

    The EU and UK remain fully committed to the JETP as co-leads, working with Viet Nam as it continues to raise ambitions for tackling emissions, limiting coal and increasing the share of renewables as set out in the recently revised of National Power Development Plan (PDP8).

    In addition to mobilising project-specific finance, the IPG will continue to engage closely with the Government of Viet Nam, the Glasgow Financial Alliance for Net Zero (GFANZ), and wider JETP partners, to promote a strong enabling policy environment for developers and investors that drives Viet Nam’s future green growth ambition.

    What is the JETP ?

    The Just Energy Transition Partnership (JETP) is a cooperation initiative and related Political Declaration agreed in December 2022 between Viet Nam and the International Partners Group (IPG; now comprised of the European Union, the United Kingdom, Canada, Denmark, France, Germany, Italy, Japan, Denmark and Norway, and co-led by the EU and the UK. The overarching goal is to support the country’s energy transition trajectory towards its 2050 net zero emissions commitment. The JETP Political Declaration consequently sets out 3 main targets:

    1. Accelerate and cap the peaking of GHG emissions from the power sector at 170 million tons of CO₂ equivalent by 2030;
    2. Limit the installed capacity of coal-fired power plants to 30.2 gigawatts by 2030;
    3. Increase the share of renewable energy in the power mix to 47% by 2030, promoting investments in wind, solar, and other clean energy sources.

    In support of these targets, the JETP partners secured original funding commitments of $15.5 billion, including $7.5 billion public sector finance from IPG members (grants, concessional and commercial loans and instruments) and $7.5 billion private sector finance facilitated by the Glasgow Financial Alliance for Net Zero (GFANZ). 

    JETPs are also being implemented to support the energy transitions in South Africa, Indonesia and Senegal.

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Email the FCDO Newsdesk (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 29 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: President Lai meets US delegation led by Senator Tammy Duckworth

    Source: Republic of China Taiwan

    President Lai meets delegation led by US House Natural Resources Committee Chair Bruce Westerman”>Details
    2025-05-27
    President Lai meets delegation led by US House Natural Resources Committee Chair Bruce Westerman
    On the afternoon of May 27, President Lai Ching-te met with a delegation led by Chair of the Natural Resources Committee of the United States House of Representatives Bruce Westerman. In remarks, President Lai stated that Taiwan and the US enjoy close industrial exchanges and continue to explore new opportunities for investment and collaboration. The president said that Taiwan will continue to increase purchases from and together build non-red supply chains with the US, expressing hope that economic and trade relations grow even closer and that both work together to jointly safeguard peace and stability throughout the region. A translation of President Lai’s remarks follows: I am delighted to meet and exchange views with members of the US House Committee on Natural Resources today. Chair Westerman, the leader of this delegation, is an old friend of Taiwan. On behalf of the people of Taiwan, I extend a very warm welcome to the delegation. I also want to thank you all for your long-term close attention to Taiwan-related affairs and your strong support for Taiwan. Taiwan and the US enjoy close ties and share ideals and values. There is an excellent foundation for cooperation between us, particularly in such areas as energy, the economy and trade, agriculture and fisheries, environmental protection, and sustainable development. In recent years, Taiwan-US ties have grown closer and closer. The US has become Taiwan’s largest destination for overseas investment, accounting for over 40 percent of Taiwan’s outbound investment. Taiwan is also the seventh largest trading partner of the US and its seventh largest export market for agricultural products. The SelectUSA Investment Summit held in Washington, DC earlier this month was the largest in its history. Taiwan’s delegation, representing 138 enterprises, was once again the biggest delegation attending the event. This shows that Taiwan and the US enjoy close industrial exchanges and continue to explore new opportunities for investment and collaboration. Looking ahead, with the global landscape changing rapidly, Taiwan will continue to increase purchases from the US, including energy resources such as natural gas and petroleum, as well as agricultural products, industrial products, and even military procurement. This will not only help balance our bilateral trade, but also strengthen development for Taiwan in energy autonomy, resilience, the economy, and trade. Taiwan and the US are also well-matched in such areas as high tech and manufacturing. As the US pursues reindustrialization and aims to become a global hub for AI, Taiwan is willing to take part and play an even more important role. We will strengthen Taiwan-US industrial cooperation and together build non-red supply chains. In addition to bringing our economic and trade relations even closer, this will also allow Taiwanese industries to remain rooted in Taiwan while expanding their global presence, helping bolster the US, and marketing worldwide. As for military exchanges, we are grateful to the US government for continuing its military sales to Taiwan and backing our efforts to upgrade our self-defense capabilities. Taiwan will continue to work with the US to jointly safeguard peace and stability throughout the region. In closing, I thank our guests once again for making the long journey here, not only offering warm friendship, but also demonstrating the staunch bipartisan support for Taiwan in the US Congress. Chair Westerman then delivered remarks, saying that it is an honor for him and his colleagues to be in Taiwan to talk about the strong relationship between the US and Taiwan and how that relationship can continue to grow in the future. The chair pointed out that natural resources are foundational to any kind of economic development, whether it is energy, which is key to manufacturing, or whether it is mining, which provides rare earth elements and all the minerals and metals needed for manufacturing. He said that as for natural resources including fish, wildlife, or timber, all are foundational to any society, but this is especially so for agriculture, noting that the US produces a lot of food and fodder and is always looking for more friends to share that with. Chair Westerman indicated that they are excited about opportunities to work with Taiwan, adding that Taiwan’s investments in the US have been greatly appreciated. He said they also are excited about the talks with the Trump administration and the future going forward on how we can have a stronger trade relationship, a stronger bilateral relationship, and how we can work with each other to help both economies grow and prosper. Chair Westerman concluded his remarks by expressing thanks for the opportunity to visit, saying that they treasure Taiwan’s friendship and our long-term relationship, and are very excited to be able to discuss in more detail how our two countries can work together. The delegation also included US House Natural Resources Committee Representatives Sarah Elfreth, Harriet Hageman, Celeste Maloy, and Nick Begich. The delegation was accompanied to the Presidential Office by American Institute in Taiwan Taipei Office Director Raymond Greene.  

    Details
    2025-05-27
    President Lai meets and hosts luncheon for delegation led by Governor Lourdes A. Leon Guerrero of Guam
    On the morning of May 27, President Lai Ching-te met with a delegation led by Governor Lourdes A. Leon Guerrero of Guam and her husband, and hosted a luncheon for the delegation at noon. In remarks, President Lai noted that this is the governor’s first trip to Taiwan, fully demonstrating the Guam government’s support and high regard for Taiwan. The president said that Guam, being the closest United States territory to Taiwan, is an important bridge for collaboration between Taiwan and the US. He stated that aside from promoting tourism, we can also explore even more opportunities for collaboration in other areas to further advance industrial development for both sides. He said that, as we begin a new chapter, we look forward to working together to generate even more momentum in bilateral cooperation and exchanges. A translation of President Lai’s remarks follows: On behalf of the people of Taiwan, I extend a warm welcome to Governor Leon Guerrero and her delegation. Last year, I transited through Guam en route for visits to Taiwan’s diplomatic allies in the Pacific. The enthusiastic reception I received from the government, legislature, people, and members of our overseas community in Guam was very touching and left me with a deep impression. During the morning tea reception hosted by Governor Leon Guerrero, we joined in singing our respective national anthems, as well as the Fanohge CHamoru. I also received at the Guam Legislature a copy of a Taiwan-friendly resolution it passed on behalf of the people of Taiwan. And I still remember to this day the striking scenery of the governor’s house and the warm reception I received there. It is therefore a great pleasure to meet with all of you today here at the Presidential Office. This is Governor Leon Guerrero’s first trip to Taiwan. Your visit fully demonstrates the Guam government’s support and high regard for Taiwan. As we begin a new chapter, we look forward to working with you to generate even more momentum in bilateral cooperation and exchanges. Taiwan and Guam are like family. We share the Austronesian spirit and culture. Our wide-ranging and mutually-beneficial collaboration is very fruitful. And now, we are facing the challenges of climate change, public health and medicine, and regional security together. The world is rapidly changing and tensions in the Indo-Pacific continue to rise. But if we combine our strengths, come together as one, and enhance cooperation, we can maintain regional peace, stability, and prosperity. Last Tuesday, I delivered an address on my first anniversary of taking office. I mentioned that for many years, Taiwan, the US, and our democratic partners have actively engaged in exchange and cooperation. Taking a market-oriented approach, we will promote an economic path of staying firmly rooted in Taiwan and expanding the global presence of our enterprises while strengthening ties with the US. Guam is the closest US territory to Taiwan. It is an important bridge for collaboration between Taiwan and the US. Last month, we were pleased to see United Airlines officially launch direct flights between Taipei and Guam. I believe this will benefit tourism and economic and trade exchanges for both sides. In the area of health care, many hospitals in Taiwan already offer referral services to patients from Guam. Both Governor Leon Guerrero and I have backgrounds in medicine. It is my hope that Taiwan and Guam can continue to work hand in hand to create even more positive outcomes from cooperation in public health and medical services. During the governor’s visit, aside from promoting tourism, we can also explore even more opportunities for collaboration in other areas. There is potential for more exchanges in aquaculture, food processing, hydroculture, manufacturing, pharmaceuticals, and recycling. This will further advance industrial development in Taiwan and Guam. In closing, I thank Governor Leon Guerrero and all our distinguished guests for backing Taiwan. I wish you all a smooth and successful visit.  Governor Leon Guerrero then delivered remarks, saying that she is very happy to come to Taiwan. She said that after learning during President Lai’s visit to Guam last year that he is a medical doctor, she felt more relaxed because healthcare colleagues are one in their endeavor to help enhance the health and well-being of people. She then expressed her heartfelt appreciation for the invitation to Taiwan.  Governor Leon Guerrero said that as they learn more about opportunities for collaboration with Taiwan, they are humbled by the hospitality they have experienced. In both of our islands, she said, hospitality is more than just a custom – it forms a part of our identities. She noted that despite being nearly 2,000 miles apart, we are connected by the Pacific Ocean and common roots, and our ancestors both value family, community, and tradition. That is why being here today, she said, she feels a strong sense of familiarity, like reconnecting with old friends. The governor remarked that Taiwan has evolved so quickly in all areas of essential life, sustenance, economy, and prosperity, adding that Taiwan’s resources in such areas as health, education, data, AI, advanced technology, aquaculture, agriculture, and commerce enhance our economic stability. She stated her belief that in collaboration and support, and working with each other, we can gain prosperity, maintain freedom and democracy, and live in peace.  Governor Leon Guerrero stated that their delegation is here to see how they can partner with Taiwan to help raise the quality of life for both our peoples, mentioning that one special concern of theirs is tourism. Tourism, she said, is the most influential engine and driver for the economy and quality of life in Guam, but they cannot have a vibrant economy and tourism without air connectivity. She added that they are prepared to help in any way to provide incentives and low-cost fees so that they can get more airlines from Taiwan to establish permanent flight schedules to Guam, so as to drive development in Guam’s tourism industry. Governor Leon Guerrero then proceeded to introduce each of the members of her delegation before remarking that while they have been very busy on this visit they are always reminded of the freedom and democracy that the people must protect. She said she looks forward to a great, strong relationship between Taiwan and Guam in cooperation on social and economic issues, in culture, marketing, tourism, and freedom and democracy. Among those in attendance were First Gentleman Jeffrey A. Cook, Chief of Staff Jon Junior Calvo, Director of the Department of Administration Edward Birn, General Manager of the Guam Visitors Bureau Regine Biscoe Lee, Deputy Executive Manager of the Guam International Airport Authority Artemio “Ricky” Hernandez, Board of Directors Chairman of the Guam International Airport Authority Brian J. Bamba, Deputy General Manager of the Guam Economic Development Authority Carlos Bordallo, Director of Landscape Management Systems Guam Bob Salas, Chairperson of the Guam Chamber of Commerce Tae Oh, President of the University of Guam Anita Borja Enriquez, and Director of the Guam Taiwan Office Felix Yen (嚴樹芬). After the meeting, President Lai, accompanied by Vice President Bi-khim Hsiao, hosted a luncheon for Governor Leon Guerrero, her husband, and the delegation.

    Details
    2025-05-27
    President Lai meets delegation from European Parliament
    On the morning of May 27, President Lai Ching-te met with a delegation from the European Parliament. In remarks, President Lai thanked the European Parliament for continuing to pay close attention to peace and stability across the Taiwan Strait and voice support for Taiwan. The president expressed hope for an even closer relationship and diversified cooperation between Taiwan and the European Union. The president said that Taiwan and the EU can work together in such areas as semiconductors, AI, and green energy to create more resilient supply chains for global democracies and contribute to global prosperity and development. A translation of President Lai’s remarks follows: I warmly welcome our guests to the Presidential Office. After being elected last year, MEPs Reinis Pozņaks and Beatrice Timgren are making their first visits to Taiwan, demonstrating support for Taiwan through concrete action. On behalf of the people of Taiwan, I extend my sincerest welcome and appreciation. I would also like to take this opportunity to thank the European Parliament for continuing to pay close attention to peace and stability across the Taiwan Strait. Just last month, the European Parliament adopted resolutions with regard to annual reports on the implementation of the European Union’s Common Foreign and Security Policy and Common Security and Defence Policy. These resolutions reaffirmed the EU’s steadfast commitment to maintaining the status quo across the Taiwan Strait. The European Parliament also condemned China for continuing to take provocative military actions against Taiwan and emphasized that Taiwan is a key democratic partner in the Indo-Pacific region. It called on the EU and its member states to continue working closely with Taiwan to strengthen economic, trade, and investment ties. Once again, I thank the European Parliament for voicing support for Taiwan. Just as MEPs Pozņaks and Timgren are visiting Taiwan to strengthen Taiwan-EU exchanges, our Minister of Economic Affairs Kuo Jyh-huei (郭智輝) also led a delegation to Europe last year, marking the first in-person dialogue between high-ranking economic and trade officials of Taiwan and the EU. Moving ahead, we look forward to bringing Taiwan-EU ties even closer and to diversifying our cooperation. The EU is Taiwan’s largest source of foreign investment. Both sides are highly complementary in such areas as semiconductors, AI, and green energy. Through our joint efforts, we can create more resilient supply chains for global democracies and further contribute to global prosperity and development. Looking ahead, I hope that MEPs Pozņaks and Timgren will continue to make the case in the European Parliament for the signing of a Taiwan-EU economic partnership agreement. This would not only yield mutually beneficial development, but also consolidate economic security and boost international competitiveness for both sides. In closing, I am sure that you will gain a deeper understanding of Taiwan through this visit. Please feel welcome to come back as often as possible as we continue to elevate Taiwan-EU ties.  MEP Pozņaks then delivered remarks, saying that it is a great honor to be here and thanking everybody involved in arranging this trip that allows them the opportunity to better know Taiwan. He added that it is definitely not the last time they will be here, as Taiwan is a very beautiful country. MEP Pozņaks mentioned that he comes from Latvia, and despite their being on the other side of the world, they know how the Taiwanese people feel, because they also have a big neighbor who is claiming that Latvia belongs to them. Unfortunately, he said, there is already war in Europe, but he is confident that their situation is similar to Taiwan’s, adding that they have a neighbor who uses disinformation attacks. MEP Pozņaks said that we live in very challenging times, and that our choices will define the future of the world, asking whether it will be a world where the rule of law prevails or where physical power and aggression succeeds. Coming from a small country, he said he clearly understands that for them there is no other possibility; they must protect the world where the rule of law prevails. That is why now, he emphasized, it is very crucial for all democracies around the world to stick together to protect our freedoms, values, and democracy. MEP Timgren then delivered remarks, thanking President Lai for meeting with them and saying it is a big honor. Noting that they arrived here two days ago and that while she really loves Taiwan, its food, and the good weather, she stated that the reason they are here is because of the values that we share, our good relationships, and solidarity with other democratic countries in the world, which is important for them in Europe and in Sweden. MEP Timgren, referring to MEP Pozņaks’s earlier remarks, said that they face a big threat from Russia that is discernible even in the European Parliament. Actually, she pointed out, there is a war inside Europe that shows us how important it is that we support one another. She said that the Russian people thought it would be easy to take over Ukraine, but it was not, because all European countries stepped up and provided weapons and support. And that is why, MEP Timgren said, it is important that democratic countries maintain good relationships and let China and Russia see that we have good relationships, because a part of defense is solidarity. In closing, she expressed her gratitude for having the honor to be here in this beautiful country.

    Details
    2025-05-20
    President Lai hosts state banquet for President Surangel Whipps Jr. of Republic of Palau
    On the evening of May 20, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, hosted a state banquet at the Presidential Office in honor of President Surangel Whipps Jr. of the Republic of Palau and his wife. In remarks, President Lai said that he looks forward to working closely with President Whipps to promote tourism exchanges and sports cooperation so that Taiwan and Palau shine brightly together on the international stage. A translation of President Lai’s remarks follows: It is a pleasure to host this banquet tonight at the Presidential Office for President Whipps, First Lady Valerie Whipps, and the esteemed members of their delegation. Welcome to Taiwan. During my trips to Palau in 2022 and last year, President and First Lady Whipps received me with great hospitality. Wearing my island shirt, I enjoyed a very friendly reception from the people of Palau. It felt warm and friendly, just like being welcomed back home. The first time I visited Palau, President Whipps and I piloted a boat to the Milky Way lagoon. We both tried volcanic mud facial masks. We also fished together and enjoyed the breeze as we walked on the beach. Last year, on my second visit to Palau, I was honored to be invited to address the National Congress. I also observed the results of the close bilateral cooperation between our two nations. Due to its world-famous ocean scenery, Palau is sometimes referred to as “God’s aquarium.” And it is even possible to snorkel with sharks. It leaves a deep impression. Nothing compares to seeing Palau firsthand. During the COVID-19 pandemic, Taiwan and Palau launched a travel bubble that created a safe means of travel. Now, with the pandemic behind us, I hope that even more Taiwanese can tour Palau and gain a greater understanding of our diplomatic ally. In addition to tourism exchanges, I mentioned on my visit to Palau last year that I hoped Taiwan and Palau could promote sports cooperation by providing training away from home. Next month, Palau will be holding the Pacific Mini Games. And right now, Palau’s national baseball and table tennis teams are holding training sessions here in Taiwan. We will do our utmost to support Palau’s national players and we hope they stand out and achieve outstanding results in the events. I look forward to working closely with President Whipps so that Taiwan and Palau shine brightly together on the international stage. Thank you! Mesulang! President Whipps then delivered remarks, saying that it is truly an honor to be here once again one year after President Lai’s inauguration. Mentioning that this is his first state visit after being reelected to a second term, he said that it is important to be here among friends, and that we are more than friends, we are family. He thanked President Lai for the generous words and, most importantly, Taiwan’s enduring support. He remarked that our relationship continues to get stronger in each passing year. President Whipps said that President Lai’s diplomacy initiative, leadership, and vision deeply resonate with them. Diplomacy must be rooted in our shared values, he said, and an unwavering support for our allies and a commitment to a sustainable, inclusive development are all deeply appreciated by their people. President Whipps emphasized that, as we look into the future and the challenges that we face, from security to climate change, it is so important that we are united. He added that it is important for the world, and especially important for them in Palau, that they stand up for Taiwan, so that Taiwan can participate on international fora that address climate change, security, and health, because they know the world is better when Taiwan has a seat at the table. Mentioning that Palau will host the Pacific Islands Forum next year, President Whipps said that Palau remains committed to working closely with Taiwan to ensure a successful event, and that they will continue to speak up for Taiwan’s indispensable contributions as we stand together against any efforts to silence or isolate democratic partners. President Whipps said that our nations have navigated challenges and emerged stronger, bound by a partnership that is built on trust, respect, and hope for a better world. Whether it is in clean energy, education, smart medicine, or tourism, our shared journey is just beginning, he said, and we are stronger together.  Also in attendance at the banquet were Palauan Minister of State Gustav Aitaro, Minister of Public Infrastructure and Industries Charles Obichang, Minister of Human Resources, Culture, Tourism and Development Ngiraibelas Tmetuchl, Senate Floor Leader Kerai Mariur, House of Delegates Floor Leader Warren Umetaro, High Chief of Ngiwal State Elliot Udui, Governor of Peleliu State Emais Roberts, and Governor of Koror State Eyos Rudimch.

    Details
    2025-05-20
    President Lai and President Surangel S. Whipps, Jr. of Palau hold bilateral talks and witness signing of cooperation agreements  
    On the afternoon of May 20, following a welcome ceremony with military honors for President Surangel S. Whipps, Jr. of the Republic of Palau and his wife, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, held bilateral talks with President Whipps at the Presidential Office. The two leaders also jointly witnessed the signing of a technical cooperation agreement and an agreement on diplomatic staff training cooperation. In remarks, President Lai thanked Palau for standing firm in its backing of Taiwan’s international participation as geopolitical tensions continue to increase in the Pacific region. He added that he looks forward to the cooperative ties between Taiwan and Palau continuing to expand into even broader areas, allowing our economies and societies to further progress as we jointly advance peace, stability, and prosperity in the Indo-Pacific region. A translation of President Lai’s remarks follows: I welcome our guests to Taiwan once again. Last year on May 20, President Whipps led a delegation to attend the inauguration ceremony for myself and Vice President Hsiao. I am delighted, on the anniversary of my first year in office, to meet with old friends of Taiwan again, as President Whipps returns for this visit. Taiwan-Palau relations have grown even closer in recent years thanks to the strong support of President Whipps. In 2022, during my term as vice president, I led a delegation to Palau as a demonstration of how our nations were together boosting tourism development as we jointly faced the challenges of the COVID-19 pandemic. Every time I visit Palau, and every time I meet with President Whipps, I feel very deeply that Taiwan and Palau are like family. We are both maritime nations and share a common Austronesian heritage and culture. We are also staunch partners in upholding such values as freedom, democracy, and respect for human rights. Last December, when I went on my first overseas trip since taking office, one of the nations I visited was Palau. We celebrated the 30th anniversary of Palau’s independence and 25 years of diplomatic relations, underscoring our friendly ties. Taiwan and Palau enjoy close exchanges and cooperation in a range of areas, including climate change, education, agriculture and fisheries, healthcare, humanitarian assistance, sports, and culture. After this meeting, President Whipps and I will witness the signing of a technical cooperation agreement and an agreement on diplomatic staff training cooperation, demonstrating once again our diverse collaboration and strong friendship. I believe that by working together, Taiwan and Palau can contribute to each other’s development and overcome the regional and global challenges we currently face. In particular, as geopolitical tensions continue to increase in the Pacific region, Palau has wisely and courageously upheld democratic values and stood firm in its backing of Taiwan’s international participation. Palau has never stopped voicing support for Taiwan, including at the United Nations General Assembly, the World Health Organization, the UN Framework Convention on Climate Change Conference of the Parties, and the UN Ocean Conference. We have been deeply moved by this support. I thank President Whipps again for his high regard and support for Taiwan. I look forward to the cooperative ties between our nations continuing to expand into even broader areas. This will allow our economies and societies to further progress as we jointly advance peace, stability, and prosperity in the Indo-Pacific region. President Whipps then delivered remarks, saying that it is a great honor for him to be here, standing in this historic place – a symbol of strength, resilience, and the democratic spirit of the Taiwanese people. On behalf of the government of Palau, President Whipps extended heartfelt gratitude to President Lai and the people of Taiwan for the warm welcome and gracious hospitality toward him and his delegation. President Whipps then extended sincere thanks for President Lai’s visit to Palau in December – his second visit to Palau – and for having Minister of Foreign Affairs Lin Chia-lung (林佳龍) attend his inauguration as a special envoy. He added that this also marks his third visit to Taiwan since President Lai took office, saying that this demonstrates the strength of our growing relationship. President Whipps indicated that the increased engagements and numerous entrepreneurs that President Lai has brought from Taiwan to Palau have resulted in fruitful visits, and that President Lai’s leadership represents hope, unity, and continued advancement of democracy and freedom, not only for Taiwan, but for the broader Indo-Pacific region. President Whipps went on to say that this visit to Taiwan reaffirms our deep friendship and shared values between our two nations. He emphasized that Palau and Taiwan are bound not by proximity, but by purpose, in that both are island nations and believe in human dignity, the rule of law, and the right of our people to determine their own futures. President Whipps stated that although we are celebrating 26 years of diplomatic relations, Taiwan has been a steadfast partner of Palau for decades, and that one of the MOUs they are signing further extends the relationship that began in December of 1984. From healthcare and medical missions, to education, agriculture, renewable energy, infrastructure, the private sector, tourism development, and climate resilience, he said, our cooperation has improved lives and strengthened our communities. The president also indicated that during the COVID-19 pandemic, Taiwan stood with Palau, noting that both sides began the tourism bubble, and that President Lai came to Palau to reopen the two weekly direct flights that have now been increased to four. That solidarity will never be forgotten, he said. As the world faces growing uncertainty and complex challenges from climate change to global tensions, President Whipps said, this friendship becomes even more vital. The president concluded his remarks by expressing hope that both nations continue to stand together, work together, and advocate together for peace, prosperity, and for the right of small nations to be seen, heard, and respected. After the bilateral talks, President Lai and President Whipps witnessed the signing of the technical cooperation agreement and the agreement on diplomatic staff training cooperation by Minister Lin and Palauan Minister of State Gustav Aitaro. The delegation also included Palauan Minister of Public Infrastructure and Industries Charles Obichang, Minister of Human Resources, Culture, Tourism and Development Ngiraibelas Tmetuchl, Senate Floor Leader Kerai Mariur, House of Delegates Floor Leader Warren Umetaro, High Chief of Ngiwal State Elliot Udui, Governor of Peleliu State Emais Roberts, and Governor of Koror State Eyos Rudimch.  

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

    MIL OSI Asia Pacific News –

  • MIL-OSI: Futu Announces First Quarter 2025 Unaudited Financial Results

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, May 29, 2025 (GLOBE NEWSWIRE) — Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, today announced its unaudited financial results for the first quarter ended March 31, 2025.

    First Quarter 2025 Operational Highlights

    • Total number of funded accounts1 increased 41.6% year-over-year to 2,673,119 as of March 31, 2025.
    • Total number of brokerage accounts2 increased 30.0% year-over-year to 4,955,319 as of March 31, 2025.
    • Total number of users3 increased 16.8% year-over-year to 26.3 million as of March 31, 2025.
    • Total client assets increased 60.2% year-over-year to HK$829.8 billion as of March 31, 2025.
    • Daily average client assets were HK$790.4 billion in the first quarter of 2025, an increase of 64.7% from the same period in 2024.
    • Total trading volume in the first quarter of 2025 increased by 140.1% year-over-year to HK$3.22 trillion, in which trading volume for U.S. stocks was HK$2.25 trillion, and trading volume for Hong Kong stocks was HK$916.0 billion.
    • Margin financing and securities lending balance increased 33.7% year-over-year to HK$50.3 billion as of March 31, 2025.

    First Quarter 2025 Financial Highlights

    • Total revenues increased 81.1% year-over-year to HK$4,694.6 million (US$603.4 million).
    • Total gross profit increased 85.9% year-over-year to HK$3,945.7 million (US$507.2 million).
    • Net income increased 107.0% year-over-year to HK$2,142.7 million (US$275.4 million).
    • Non-GAAP adjusted net income4 increased 97.7% year-over-year to HK$2,216.9 million (US$285.0 million).

    Mr. Leaf Hua Li, Futu’s Chairman and Chief Executive Officer, said, “We started 2025 on a strong note, adding approximately 262 thousand funded accounts in the first quarter, up 47.8% year-over-year and 21.9% quarter-over-quarter. Total funded accounts reached 2.7 million, representing a 41.6% increase year-over-year and a 10.9% increase quarter-over-quarter. Hong Kong remained the top contributor to new funded accounts, as our marketing initiatives effectively leveraged the Hong Kong market rally and IPO boom. We believe that brokers with leading brand equity, product experience and execution capabilities will gain outsized benefits from strong equity market performance. Malaysia posted the fastest sequential growth in new funded accounts among all seven markets. After a year of rapid market share gain in Malaysia, we think there is ample headroom for further growth and will continue to invest in our product and our brand. In Japan, new funded accounts enjoyed robust growth and reached a historic high, as we solidified our position as the go-to broker for U.S. stock trading. Funded account growth accelerated in the U.S. as we enhanced our offerings for active traders and our high-profile advertising campaigns boosted brand visibility. With one-third of our full-year target already achieved, we remain firmly on track to meet our guidance of 800 thousand net new funded accounts in 2025.”

    “Total client assets reached HK$829.8 billion, up 60.2% year-over-year and 11.6% quarter-over-quarter, thanks to record net asset inflow. In Singapore, total client assets rose 11.4% quarter-over-quarter, sustaining its streak of double-digit sequential growth. Average client assets in Canada and Australia also logged five straight quarters of sequential increase. Margin financing and securities lending balance at quarter end remained largely stable at HK$50.3 billion, due to lower risk appetite in the second half of the quarter amid market pullback.”

    “Total trading volume was HK$3.22 trillion, up 140.1% year-over-year and 11.4% quarter-over-quarter. U.S. stock trading volume grew 8.2% sequentially to HK$2.25 trillion, bolstered by clients’ bottom fishing of technology and semiconductor names. Hong Kong stock trading volume increased 21.4% quarter-over-quarter to HK$916.0 billion, as DeepSeek-induced market rally reignited investor interest.”

    “We continued to drive product innovation, empowering retail investors with cutting-edge investment tools and seamless investment experience. In Hong Kong, we unveiled Futubull AI, our proprietarily trained, AI-powered investment assistance, and revealed a new desktop version with more intuitive tools and advanced features. In Japan, we continued to enhance our U.S. stock offerings as we rolled out U.S. fractional shares trading in the first quarter and subsequently launched U.S. options trading in April.”

    “Wealth management client assets were HK$139.2 billion as of quarter end, up 117.7% year-over-year and 25.6% quarter-over-quarter. 29% of funded accounts held wealth management products, a further climb from 28% in the previous quarter. Money market funds remained the primary driver of asset inflow given the seek for stable returns amid market volatility. In Hong Kong and Singapore, we broadened our structured product suite with FX-linked notes in the first quarter. We also onboarded equity funds in Malaysia and money market funds in Japan.”

    “We had 498 IPO distribution and IR clients as of quarter end, up 15.8% year-over-year. During the quarter, we served as joint lead manager for several high-profile Hong Kong IPOs, including those of Bloks Group and Guming Holdings. For both of these transactions, we were the exclusive online broker for IPO distribution. Notably, in the MIXUE Group IPO, more than 70 thousand clients contributed to over HK$1 trillion in subscription amount, putting us first among all brokers in number of subscribers and total subscription amount.”

    First Quarter 2025 Financial Results

    Revenues

    Total revenues were HK$4,694.6 million (US$603.4 million), an increase of 81.1% from HK$2,592.5 million in the first quarter of 2024.

    Brokerage commission and handling charge income was HK$2,310.2 million (US$296.9 million), an increase of 113.5% from the first quarter of 2024. This was mainly due to higher trading volume, partially offset by the decline in blended commission rate.

    Interest income was HK$2,070.5 million (US$266.1 million), an increase of 52.9% from the first quarter of 2024. The increase was mainly driven by higher interest income from securities borrowing and lending business, margin financing and bank deposits.

    Other income was HK$313.9 million (US$40.4 million), an increase of 101.0% from the first quarter of 2024. The increase was primarily attributable to higher fund distribution service income and currency exchange income.

    Costs

    Total costs were HK$749.0 million (US$96.3 million), an increase of 59.3% from HK$470.2 million in the first quarter of 2024.

    Brokerage commission and handling charge expenses were HK$143.5 million (US$18.4 million), an increase of 138.0% from the first quarter of 2024. This increase was roughly in line with the growth of our brokerage commission and handling charge income.

    Interest expenses were HK$469.3 million (US$60.3 million), an increase of 50.0% from the first quarter of 2024. The increase was primarily due to higher expenses associated with our securities borrowing and lending business and higher margin financing interest expenses.

    Processing and servicing costs were HK$136.1 million (US$17.5 million), an increase of 40.2% from the first quarter of 2024. The increase was primarily due to higher market information and data fee for enhanced market data coverage.

    Gross Profit

    Total gross profit was HK$3,945.7 million (US$507.2 million), an increase of 85.9% from HK$2,122.2 million in the first quarter of 2024. Gross margin was 84.0%, as compared to 81.9% in the first quarter of 2024.

    Operating Expenses

    Total operating expenses were HK$1,260.4 million (US$162.0 million), an increase of 35.6% from HK$929.5 million in the first quarter of 2024.

    Research and development expenses were HK$386.0 million (US$49.6 million), an increase of 15.1% from the first quarter of 2024. This increase was primarily driven by investment in AI capabilities and related technology initiatives.

    Selling and marketing expenses were HK$459.2 million (US$59.0 million), an increase of 56.9% from HK$292.7 million in the first quarter of 2024. This was mainly driven by strong growth of new funded accounts.

    General and administrative expenses were HK$415.2 million (US$53.4 million), an increase of 37.8% from the first quarter of 2024. The increase was primarily due to an increase in general and administrative personnel to support overseas market development.

    Income from Operations

    Income from operations increased by 125.1% to HK$2,685.3 million (US$345.2 million) from HK$1,192.7 million in the first quarter of 2024. Operating margin increased to 57.2% from 46.0% in the first quarter of 2024 mainly due to strong topline growth and operating leverage.

    Net Income

    Net income increased by 107.0% to HK$2,142.7 million (US$275.4 million) from HK$1,035.1 million in the first quarter of 2024. Net income margin for the first quarter of 2025 increased to 45.6% from 39.9% in the year-ago quarter.

    Non-GAAP adjusted net income increased by 97.7% to HK$2,216.9 million (US$285.0 million) from the first quarter of 2024. Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses. For further information, see “Use of Non-GAAP Financial Measures” at the bottom of this press release.

    Net Income per ADS

    Basic net income per American Depositary Share (“ADS”) was HK$15.44 (US$1.98), compared with HK$7.53 in the first quarter of 2024. Diluted net income per ADS was HK$15.28 (US$1.96), compared with HK$7.46 in the first quarter of 2024. Each ADS represents eight Class A ordinary shares.

    Conference Call and Webcast

    Futu’s management will hold an earnings conference call on Thursday, May 29, 2025, at 7:30 AM U.S. Eastern Time (7:30 PM on the same day, Beijing/Hong Kong Time).

    Please note that all participants will need to pre-register for the conference call, using the link

    https://register-conf.media-server.com/register/BIb0180ca92acc4f49b995ccdec654eeb4.

    It will automatically lead to the registration page of “Futu Holdings Ltd First Quarter 2025 Earnings Conference Call”, where details for RSVP are needed.

    Upon registering, all participants will be provided in confirmation emails with participant dial-in numbers and personal PINs to access the conference call. Please dial in 10 minutes prior to the call start time using the conference access information.

    Additionally, a live and archived webcast of this conference call will be available at https://ir.futuholdings.com/.

    About Futu Holdings Limited

    Futu Holdings Limited (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering fully digitalized financial services. Through its proprietary digital platforms, Futubull and moomoo, the Company provides a full range of investment services, including trade execution and clearing, margin financing and securities lending, and wealth management. The Company has embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders. The Company also provides corporate services, including IPO distribution, investor relations and ESOP solution services.

    Use of Non-GAAP Financial Measures

    In evaluating the business, the Company considers and uses non-GAAP adjusted net income, a non-GAAP measure, as a supplemental measure to review and assess its operating performance. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines non-GAAP adjusted net income as net income excluding share-based compensation expenses. The Company presents the non-GAAP financial measure because it is used by the management to evaluate the operating performance and formulate business plans. Non-GAAP adjusted net income enables the management to assess the Company’s operating results without considering the impact of share-based compensation expenses, which are non-cash charges. The Company also believes that the use of the non-GAAP measure facilitates investors’ assessment of its operating performance.

    Non-GAAP adjusted net income is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. This non-GAAP financial measure has limitations as analytical tools. One of the key limitations of using non-GAAP adjusted net income is that it does not reflect all items of expense that affect the Company’s operations. Share-based compensation expenses have been and may continue to be incurred in the business and is not reflected in the presentation of non-GAAP adjusted net income. Further, the non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

    The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance.

    For more information on this non-GAAP financial measure, please see the table captioned “Unaudited Reconciliations of Non-GAAP and GAAP Results” set forth at the end of this press release.

    Exchange Rate Information

    This announcement contains translations of certain HK dollars (“HK$”) amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from HK$ to US$ were made at the rate of HK$7.7799 to US$1.00, the noon buying rate in effect on March 31, 2025 in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the HK$ or US$ amounts referred could be converted into US$ or HK$, as the case may be, at any particular rate or at all.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from the management team of the Company, contain forward-looking statements. Futu may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Futu’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Futu’s goal and strategies; Futu’s expansion plans; Futu’s future business development, financial condition and results of operations; Futu’s expectations regarding demand for, and market acceptance of, its credit products; Futu’s expectations regarding keeping and strengthening its relationships with borrowers, institutional funding partners, merchandise suppliers and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Futu’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Futu does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For investor inquiries, please contact:

    Investor Relations
    Futu Holdings Limited
    ir@futuholdings.com

    ___________________________

    1 The number of funded accounts refers to the number of brokerage accounts with Futu that have a positive account balance. Multiple funded accounts by one client are counted as one funded account.
    2 Multiple brokerage accounts by one client are counted as one brokerage account.
    3 The number of users refers to the number of user accounts registered with Futu.
    4 Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses.

    FUTU HOLDINGS LIMITED

    UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

    (In thousands, except for share and per share data)
      As of December 31,   As of March 31,
      2024   2025   2025
      HK$   HK$   US$
    ASSETS          
    Cash and cash equivalents 11,688,383   6,495,155   834,864
    Cash held on behalf of clients 68,639,816   88,246,095   11,342,832
    Restricted cash 1,121   7,857   1,010
    Term deposit 4,990   5,240   674
    Short-term investments 2,411,074   2,659,746   341,874
    Securities purchased under agreements to resell 316,301   468,788   60,256
    Loans and advances-current (net of allowance of HK$85,252 thousand and HK$133,380 thousand as of December 31, 2024 and March 31, 2025, respectively) 49,695,691   48,552,818   6,240,802
    Receivables:          
    Clients 534,077   717,361   92,207
    Brokers 17,224,387   17,913,085   2,302,483
    Clearing organizations 3,277,063   8,189,215   1,052,612
    Fund management companies and fund distributors 1,210,472   1,773,358   227,941
    Interest 597,483   624,324   80,248
    Amounts due from related parties 61,200   –   –
    Prepaid assets 63,497   68,993   8,868
    Other current assets 160,330   753,181   96,811
    Total current assets 155,885,885   176,475,216   22,683,482
               
    Operating lease right-of-use assets 253,212   390,760   50,227
    Long-term investments 573,190   698,183   89,742
    Loans and advances-non-current 18,805   18,843   2,422
    Other non-current assets 2,025,841   3,055,412   392,730
    Total non-current assets 2,871,048   4,163,198   535,121
    Total assets 158,756,933   180,638,414   23,218,603
    LIABILITIES          
    Amounts due to related parties 79,090     154,011     19,796  
    Payables:          
    Clients 72,379,135     95,452,151     12,269,072  
    Brokers 43,697,746     38,246,431     4,916,057  
    Clearing organizations 503,396     357,842     45,996  
    Fund management companies and fund distributors 507,076     1,509,340     194,005  
    Interest 86,964     69,180     8,892  
    Borrowings 5,702,259     9,897,658     1,272,209  
    Securities sold under agreements to repurchase 2,574,659     929,084     119,421  
    Lease liabilities-current 144,357     132,750     17,063  
    Accrued expenses and other current liabilities 4,936,805     3,316,253     426,259  
    Total current liabilities 130,611,487     150,064,700     19,288,770  
               
    Lease liabilities-non-current 132,924     275,538     35,418  
    Other non-current liabilities 8,061     8,058     1,035  
    Total non-current liabilities 140,985     283,596     36,453  
    Total liabilities 130,752,472     150,348,296     19,325,223  
               
               
    SHAREHOLDERS’ EQUITY          
    Class A ordinary shares 72     72     9  
    Class B ordinary shares 27     27     3  
    Additional paid-in capital 18,807,369     18,885,107     2,427,423  
    Treasury stock (5,199,257 )   (5,199,257 )   (668,294 )
    Accumulated other comprehensive loss (249,916 )   (184,687 )   (23,739 )
    Retained earnings 14,652,946     16,798,269     2,159,188  
    Total shareholders’ equity 28,011,241     30,299,531     3,894,590  
               
               
    Non-controlling interest (6,780 )   (9,413 )   (1,210 )
    Total equity 28,004,461     30,290,118     3,893,380  
    Total liabilities and equity 158,756,933     180,638,414     23,218,603  
               
    FUTU HOLDINGS LIMITED

    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

    (In thousands, except for share and per share data)
      For the Three Months Ended
      March 31,
    2024    		   March 31,
    2025    		   March 31,
    2025
      HK$   HK$   US$
    Revenues          
    Brokerage commission and handling charge income 1,082,107     2,310,220     296,947  
    Interest income 1,354,166     2,070,469     266,131  
    Other income 156,186     313,948     40,354  
    Total revenues 2,592,459     4,694,637     603,432  
    Costs          
    Brokerage commission and handling charge expenses (60,301 )   (143,505 )   (18,446 )
    Interest expenses (312,842 )   (469,333 )   (60,326 )
    Processing and servicing costs (97,103 )   (136,115 )   (17,496 )
    Total costs (470,246 )   (748,953 )   (96,268 )
    Total gross profit 2,122,213     3,945,684     507,164  
               
    Operating expenses          
    Research and development expenses (335,487 )   (385,979 )   (49,612 )
    Selling and marketing expenses (292,664 )   (459,202 )   (59,024 )
    General and administrative expenses (301,335 )   (415,245 )   (53,374 )
    Total operating expenses (929,486 )   (1,260,426 )   (162,010 )
               
    Income from operations 1,192,727     2,685,258     345,154  
               
    Others, net 31,741     (20,598 )   (2,648 )
               
    Income before income tax expense and share of loss from equity method investments 1,224,468     2,664,660     342,506  
               
    Income tax expense (185,641 )   (490,959 )   (63,106 )
    Share of loss from equity method investments (3,694 )   (30,997 )   (3,984 )
               
    Net income 1,035,133     2,142,704     275,416  
               
    Attributable to:          
    Ordinary shareholders of the Company 1,038,138     2,145,323     275,753  
    Non-controlling interest (3,005 )   (2,619 )   (337 )
      1,035,133     2,142,704     275,416  
    Net income per share attributable to ordinary shareholders of the Company          
    Basic 0.94     1.93     0.25  
    Diluted 0.93     1.91     0.24  
               
    Net income per ADS          
    Basic 7.53     15.44     1.98  
    Diluted 7.46     15.28     1.96  
               
    Weighted average number of ordinary shares used in computing net income per share          
    Basic 1,102,929,775     1,113,426,758     1,113,426,758  
    Diluted 1,114,429,420     1,126,352,076     1,126,352,076  
               
    Net income 1,035,133     2,142,704     275,416  
    Other comprehensive (loss)/income, net of tax          
    Foreign currency translation adjustment (29,441 )   65,215     8,382  
    Total comprehensive income 1,005,692     2,207,919     283,798  
               
    Attributable to:          
    Ordinary shareholders of the Company 1,008,732     2,210,552     284,136  
    Non-controlling interests (3,040 )   (2,633 )   (338 )
      1,005,692     2,207,919     283,798  
    FUTU HOLDINGS LIMITED

    UNAUDITED RECONCILIATIONS OF NON-GAAP AND GAAP RESULTS

    (In thousands)
      For the Three Months Ended
      March 31,
    2024    		   March 31,
    2025    		   March 31,
    2025
      HK$   HK$   US$
               
    Net income 1,035,133   2,142,704   275,416
    Add: Share-based compensation expenses 85,938   74,199   9,537
    Adjusted net income 1,121,071   2,216,903   284,953
               

    Non-GAAP to GAAP reconciling items have no income tax effect.

    The MIL Network –

  • Sikkim will shine in sports, tourism, and startups: PM Modi

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi today addressed the golden jubilee celebrations of Sikkim’s statehood via videoconferencing, marking 50 years since the northeastern state became part of the Indian Union. Themed ‘Sikkim@50: Where Progress Meets Purpose, and Nature Nurtures Growth’, the event celebrated the state’s remarkable journey of development, sustainability, and cultural preservation.

    Prime Minister Modi underscored the importance of positioning Sikkim as a global tourism destination. “The time has come for Sikkim to evolve beyond being just a hill station,” he said. “Sikkim’s potential is unmatched, offering a complete tourism package.” He pointed to the state’s natural beauty, spiritual significance, and cultural treasures such as its lakes, waterfalls, monasteries, and the Kanchenjunga National Park, a UNESCO World Heritage Site.

    The Prime Minister said that new infrastructure like the Golden Jubilee Project and the statue of Bharat Ratna Atal Bihari Vajpayee ji at Atal Amrit Udyan symbolized the new heights of progress Sikkim is achieving. “Sikkim has immense potential for adventure and sports tourism,” he remarked, stressing the growth of activities such as trekking, mountain biking, and high-altitude training.

    He expressed a clear vision of establishing Sikkim as a destination for conference tourism, wellness tourism, and concert tourism. “The Golden Jubilee Convention Center is an important step towards this future. I wish that global artists perform in Gangtok and experience the harmony of nature and culture that Sikkim represents,” said the Prime Minister.

    Referring to the recent Northeast Investment Summit held in Delhi, PM Modi said major investors are now showing strong interest in the region, including Sikkim, which will lead to employment generation and economic growth in the coming years. He said that bringing G-20 Summit meetings to the Northeast was a strategic step to showcase the region’s potential on the world stage and appreciated the Sikkim government’s proactive efforts in this regard.

    Highlighting India’s rise as a global economic force and a growing sporting power, the Prime Minister said that the youth of the Northeast, particularly Sikkim, will play a central role in realizing the country’s aspirations. He acknowledged the contribution of sports personalities such as Bhaichung Bhutia, Olympian Tarundeep Rai, and athlete Jaslal Pradhan. “Sports should not just be about participation but about winning with determination,” said the Prime Minister, adding that the new sports complex in Gangtok will serve as a training ground for future champions.

    He mentioned the Khelo India scheme, under which Sikkim is receiving focused support in talent identification, training, and organizing tournaments. “The energy and passion of Sikkim’s youth will propel India to Olympic glory,” he stated.

    Speaking on national unity and resilience, Prime Minister Modi condemned the recent attack in Pahalgam, calling it an attack on humanity. “The terrorists not only stole the happiness of many families but also attempted to divide the people of India,” he said. Referring to India’s firm response through ‘Operation Sindoor’, he asserted that the country gave a befitting reply by dismantling several Pakistani airbases, demonstrating its strategic capabilities.

    Reflecting on the future, PM Modi emphasized that Sikkim’s 50-year journey should inspire ambitious planning for its 75th year in 2047, coinciding with the centenary of India’s independence. “We must set clear goals for what Sikkim should look like by 2047. This includes boosting the state’s economy and shaping it into a ‘wellness state’,” he said.

    He urged the people to equip Sikkim’s youth with global skills, calling for a push in new areas of skill development, digital innovation, and global employment readiness. “Sikkim’s young generation must be prepared not just for local needs but also for global demands,” the Prime Minister stated.

    Calling for a collective commitment to Sikkim’s continued growth, PM Modi said, “Our dream is that Sikkim should become a Green Model State not only for India but for the entire world.” He outlined a vision of secure housing for all, solar-powered electricity for every household, and a strong identity in agro-startups, organic food exports, and tourism-based entrepreneurship. “The next 25 years are dedicated to achieving these ambitious goals and establishing Sikkim’s presence on the global stage,” he concluded.

    The event also saw the unveiling of a commemorative coin, souvenir coin, and postage stamp to mark 50 years of Sikkim’s statehood. The Prime Minister laid the foundation stone and inaugurated several developmental projects, including a 500-bedded District Hospital in Namchi worth over ₹750 crore, a passenger ropeway at Sangachoeling in Gyalshing district, and the statue of Atal Bihari Vajpayee in Gangtok.

  • MIL-OSI: Aurora Mobile Limited Announces First Quarter 2025 Unaudited Financial Results

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, May 29, 2025 (GLOBE NEWSWIRE) — Aurora Mobile Limited (“Aurora Mobile” or the “Company”) (NASDAQ: JG), a leading provider of customer engagement and marketing technology services in China, today announced its unaudited financial results for the first quarter ended March 31, 2025.

    First Quarter 2025 Financial Highlights

    • Revenues were RMB89.0 million (US$12.3 million), an increase of 38% year-over-year.
    • Cost of revenues was RMB30.1 million (US$4.2 million), an increase of 66% year-over-year.
    • Gross profit was RMB58.8 million (US$8.1 million), an increase of 27% year-over-year.
    • Total operating expenses were RMB60.6 million (US$8.3 million), an increase of 14% year-over-year.
    • Net loss was RMB1.6 million (US$0.2 million), compared with a net loss of RMB2.6 million for the same quarter last year.
    • Net loss attributable to Aurora Mobile Limited’s shareholders was RMB2.6 million (US$0.4 million), compared with a net loss attributable to Aurora Mobile Limited’s shareholders of RMB2.4 million for the same quarter last year.
    • Adjusted net loss (non-GAAP) was RMB1.2 million (US$0.2 million), compared with a RMB1.3 million adjusted net loss for the same quarter last year.
    • Adjusted EBITDA (non-GAAP) was RMB0.5 million (US$63 thousand), compared with RMB0.2 million for the same quarter last year.

    Mr. Weidong Luo, Chairman and Chief Executive Officer of Aurora Mobile, commented, “We have had a great start to 2025. Our Q1’2025 performance and numbers are very impressive.

    • Firstly, our EngageLab business had a “Monster Quarter” where we closed out more than RMB63 million worth of contract value in just one quarter. This brings the total cumulative EngageLab contract value in excess of RMB110 million by March 31, 2025.
    • Secondly, the Group’s revenue this quarter reached RMB89.0 million, achieving a remarkable 38% growth year-over-year. EngageLab’s recognized revenue also grew by 127% year-over-year.
    • Thirdly, our Financial Risk Management business had its best quarter in history, recording the highest quarterly revenue of RMB22.2 million, revenue grew by 64% year-over-year.
    • Fourthly, gross profit grew strongly by 27% year-over-year, achieving the highest gross profit for the past 9 quarters. Gross margin has also improved 520 basis points quarter-over-quarter!
    • Fifthly, we recorded another Adjusted EBITDA profit in this quarter. This marks the 7th consecutive quarterly positive Adjusted EBITDA we have had.

    With these numbers above, we are equally excited about 2025. This has no doubt set a great momentum for the rest of the 2025 ! The progress in our performance and our solid financial position enable us to invest more resources into the development of our enterprise AI agent platform and its global expansion.”

    Mr. Shan-Nen Bong, Chief Financial Officer of Aurora Mobile, added, “In Q1’2025, our revenue grew by 38% year-over-year, gross profit grew by 27% whilst operating expenses grew by 14%. Overall, we are pleased to see how the operating expenses have been trending in view of the revenue and gross profit growth. This is a sustainable growth model on a long-term basis.”

    First Quarter 2025 Financial Results

    Revenues were RMB89.0 million (US$12.3 million), an increase of 38% from RMB64.5 million in the same quarter of last year, attributable to a 39% increase in revenue from Developer Services and a 35% increase in revenue from Vertical Applications. In particular, the revenues from Value-Added Services within Developer Services increased by 269% compared to the same quarter of last year.

    Cost of revenues was RMB30.1 million (US$4.2 million), an increase of 66% from RMB18.2 million in the same quarter of last year. The increase was mainly due to a RMB5.6 million increase in media cost, a RMB1.6 million increase in short messaging cost, and a RMB4.7 million increase in other direct costs related to revenue generation.

    Gross profit was RMB58.8 million (US$8.1 million), an increase of 27% from RMB46.4 million in the same quarter of last year.

    Total operating expenses were RMB60.6 million (US$8.3 million), an increase of 14% from RMB53.0 million in the same quarter of last year.

    • Research and development expenses were RMB24.6 million (US$3.4 million), an increase of 8% from RMB22.7 million in the same quarter of last year, mainly due to a RMB0.9 million increase in personnel costs and a RMB0.8 million increase in cloud cost.
    • Sales and marketing expenses were RMB23.3 million (US$3.2 million), an increase of 34% from RMB17.4 million in the same quarter of last year, mainly due to a RMB5.2 million increase in personnel costs.
    • General and administrative expenses were RMB12.7 million (US$1.7 million), a decrease of 2% from RMB12.9 million in the same quarter of last year, mainly due to a RMB0.6 million decrease in share-based compensation expenses.

    Loss from operations was RMB1.5 million (US$0.2 million), compared with RMB5.1 million in the same quarter of last year.

    Net Loss was RMB1.6 million (US$0.2 million), compared with RMB2.6 million in the same quarter of last year.

    Adjusted net loss (non-GAAP) was RMB1.2 million (US$0.2 million), compared with RMB1.3 million in the same quarter of last year.

    Adjusted EBITDA (non-GAAP) was RMB0.5 million (US$63 thousand) compared with RMB0.2 million for the same quarter of last year.

    The cash and cash equivalents and restricted cash were RMB113.6 million (US$15.7 million) as of March 31, 2025 compared with RMB119.5 million as of December 31, 2024.

    Business Outlook

    For the second quarter of 2025, the Company expects the total revenue to be between RMB87.5 million and RMB90.5 million, representing year-over-year growth of approximately 10% to 14%.

    The above outlook is based on the current market conditions and reflects the Company’s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.

    Update on Share Repurchase

    As of March 31, 2025, the Company had repurchased a total of 295,179 ADS, of which 16,322 ADSs, or around US$170.5 thousand were repurchased during the first quarter in 2025.

    Conference Call

    The Company will host an earnings conference call on Thursday, May 29, 2025 at 7:30 a.m. U.S. Eastern Time (7:30 p.m. Beijing time on the same day).

    All participants must register in advance to join the conference using the link provided below. Please dial in 15 minutes before the call is scheduled to begin. Conference access information will be provided upon registration.

    Participant Online Registration:
    https://register-conf.media-server.com/register/BI47c63565ef284b3784a50da74dc4a38e

    A live and archived webcast of the conference call will be available on the Investor Relations section of Aurora Mobile’s website at https://ir.jiguang.cn/. 

    Use of Non-GAAP Financial Measures

    In evaluating the business, the Company considers and uses two non-GAAP measures, adjusted net (loss)/income and adjusted EBITDA, as a supplemental measure to review and assess its operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net (loss)/income as net loss excluding share-based compensation. The Company defines adjusted EBITDA as net loss excluding interest expense, depreciation of property and equipment, amortization of intangible assets, income tax expenses/(benefits) and share-based compensation.

    The Company believes that adjusted net (loss)/income and adjusted EBITDA help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in loss from operations and net loss.

    The Company believes that adjusted net (loss)/income and adjusted EBITDA provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making.

    The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using adjusted net (loss)/income and adjusted EBITDA is that they do not reflect all items of income and expense that affect the Company’s operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

    The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.

    Reconciliations of the non-GAAP financial measures to the most comparable U.S. GAAP measure are included at the end of this press release.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

    About Aurora Mobile Limited

    Founded in 2011, Aurora Mobile is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation.

    For more information, please visit https://ir.jiguang.cn/.

    For investor and media inquiries, please contact:

    Aurora Mobile Limited

    ir@jiguang.cn

    Christensen

    In China

    Ms. Xiaoyan Su

    Phone: +86-10-5900-1548

    E-mail: Xiaoyan.Su@christensencomms.com 

    In U.S.

    Ms. Linda Bergkamp

    Phone: +1-480-614-3004

    Email: linda.bergkamp@christensencomms.com 

    Footnote:

    This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.2567 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of March 31, 2025.

     
    AURORA MOBILE LIMITED
    UNAUDITED INTERIM CONDENSED CONSOLIDATED INCOME STATEMENTS
    (Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for number of shares and per share data)
                     
        Three months ended
        March 31, 2024   December 31, 2024   March 31, 2025
        RMB   RMB   RMB   US$
                     
    Revenues   64,524     93,153     88,961     12,259  
    Cost of revenues   (18,152 )   (36,468 )   (30,117 )   (4,150 )
    Gross profit   46,372     56,685     58,844     8,109  
    Operating expenses                
    Research and development   (22,681 )   (24,326 )   (24,607 )   (3,391 )
    Sales and marketing   (17,391 )   (24,583 )   (23,303 )   (3,211 )
    General and administrative   (12,932 )   (11,392 )   (12,676 )   (1,747 )
    Total operating expenses   (53,004 )   (60,301 )   (60,586 )   (8,349 )
    Other operating income   1,579     3,393     197     27  
    Loss from operations   (5,053 )   (223 )   (1,545 )   (213 )
    Foreign exchange (loss)/gain, net   (23 )   (62 )   38     5  
    Interest income   2,187     288     236     33  
    Interest expenses   (6 )   (42 )   (39 )   (5 )
    Other income/(loss)   15     (805 )   –     –  
    Gains from fair value change   23     45     38     5  
    Loss before income taxes   (2,857 )   (799 )   (1,272 )   (175 )
    Income tax benefits/(expenses)   244     105     (336 )   (46 )
    Net loss   (2,613 )   (694 )   (1,608 )   (221 )
    Less: net (loss)/income attributable to noncontrolling interests   (214 )   372     944     130  
    Net loss attributable to Aurora Mobile Limited’s shareholders   (2,399 )   (1,066 )   (2,552 )   (351 )
    Net loss per share, for Class A and Class B common shares:                
    Class A and B Common Shares – basic and diluted   (0.03 )   (0.01 )   (0.03 )   (0.00 )
    Shares used in net loss per share computation:                
    Class A Common Shares – basic and diluted   62,687,345     63,200,100     63,254,710     63,254,710  
    Class B Common Shares – basic and diluted   17,000,189     17,000,189     17,000,189     17,000,189  
    Other comprehensive income/(loss)                
    Foreign currency translation adjustments   78     1,357     (82 )   (11 )
    Total other comprehensive income/(loss), net of tax   78     1,357     (82 )   (11 )
    Total comprehensive (loss)/income   (2,535 )   663     (1,690 )   (232 )
    Less: comprehensive (loss)/income attributable to noncontrolling interests   (214 )   372     944     130  
    Comprehensive (loss)/income attributable to Aurora Mobile Limited’s shareholders   (2,321 )   291     (2,634 )   (362 )
                     
    AURORA MOBILE LIMITED
    UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
    (Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))
                 
        As of
        December 31, 2024   March 31, 2025
        RMB   RMB   US$
    ASSETS            
    Current assets:            
    Cash and cash equivalents   119,171     113,267     15,609  
    Restricted cash   376     375     52  
    Accounts receivable   50,804     54,071     7,451  
    Prepayments and other current assets   14,264     17,354     2,391  
    Total current assets   184,615     185,067     25,503  
    Non-current assets:            
    Long-term investments   113,506     113,458     15,635  
    Property and equipment, net   4,573     4,331     597  
    Operating lease right-of-use assets   17,146     15,892     2,190  
    Intangible assets, net   13,767     12,788     1,762  
    Goodwill   37,785     37,785     5,207  
    Deferred tax assets   131     167     23  
    Other non-current assets   6,510     6,503     895  
    Total non-current assets   193,418     190,924     26,309  
    Total assets   378,033     375,991     51,812  
    LIABILITIES AND SHAREHOLDERS’ EQUITY            
    Current liabilities:            
    Short-term loan   3,000     –     –  
    Accounts payable   32,691     34,114     4,701  
    Deferred revenue and customer deposits   147,111     156,929     21,625  
    Operating lease liabilities   4,461     4,152     572  
    Accrued liabilities and other current liabilities   74,370     66,407     9,151  
    Total current liabilities   261,633     261,602     36,049  
    Non-current liabilities:            
    Operating lease liabilities   13,376     12,292     1,694  
    Deferred tax liabilities   3,059     2,891     398  
    Other non-current liabilities   567     567     78  
    Total non-current liabilities   17,002     15,750     2,170  
    Total liabilities   278,635     277,352     38,219  
    Shareholders’ equity:            
    Common shares   50     51     7  
    Treasury shares   (1,674 )   (2,898 )   (399 )
    Additional paid-in capital   1,045,221     1,047,375     144,332  
    Accumulated deficit   (995,715 )   (998,267 )   (137,565 )
    Accumulated other comprehensive income   20,040     19,958     2,750  
    Total Aurora Mobile Limited’s shareholders’ equity   67,922     66,219     9,125  
    Noncontrolling interests   31,476     32,420     4,468  
    Total shareholders’ equity   99,398     98,639     13,593  
    Total liabilities and shareholders’ equity   378,033     375,991     51,812  
                 
    AURORA MOBILE LIMITED
    RECONCILIATION OF GAAP AND NON-GAAP RESULTS
    (Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))
                     
        Three months ended
        March 31, 2024   December 31, 2024   March 31, 2025
        RMB   RMB   RMB   US$
    Reconciliation of Net Loss to Adjusted Net (Loss)/Income:              
    Net loss   (2,613 )   (694 )   (1,608 )   (221 )
    Add:                
    Share-based compensation   1,268     795     407     56  
    Adjusted net (loss)/income   (1,345 )   101     (1,201 )   (165 )
    Reconciliation of Net Loss to Adjusted EBITDA:                
    Net loss   (2,613 )   (694 )   (1,608 )   (221 )
    Add:                
    Income tax (benefits)/expenses   (244 )   (105 )   336     46  
    Interest expenses   6     42     39     5  
    Depreciation of property and equipment   380     197     266     37  
    Amortization of intangible assets   1,369     1,052     1,019     140  
    EBITDA   (1,102 )   492     52     7  
    Add:                
    Share-based compensation   1,268     795     407     56  
    Adjusted EBITDA   166     1,287     459     63  
                     
    AURORA MOBILE LIMITED
    UNAUDITED SAAS BUSINESSES REVENUE
    (Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))
                     
                     
        Three months ended
        March 31, 2024   December 31, 2024   March 31, 2025
        RMB   RMB   RMB   US$
                     
    Developer Services   44,749     70,998     62,322     8,588  
    Subscription   42,351     54,687     53,467     7,368  
    Value-Added Services   2,398     16,311     8,855     1,220  
    Vertical Applications   19,775     22,155     26,639     3,671  
    Total Revenue   64,524     93,153     88,961     12,259  
    Gross Profits   46,372     56,685     58,844     8,109  
    Gross Margin   71.9%     60.9%     66.1%     66.1%  
                     

    The MIL Network –

  • PM Modi celebrates Sikkim@50, calls Sikkim “pride of the nation,” promises visit soon

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Thursday addressed the ‘Sikkim@50’ programme virtually. The event, held in Gangtok, marked the golden jubilee of Sikkim’s statehood under the theme “Where Progress Meets Purpose, and Nature Nurtures Growth.”

    Extending warm greetings to the people of Sikkim, the Prime Minister expressed his regret at not being able to attend in person due to adverse weather conditions. “I wanted to witness the fervor, energy, and enthusiasm of the people in person, but due to inclement weather, I could not be present. I promise to visit Sikkim soon and be part of your achievements and celebrations,” PM Modi said.

    Recalling the journey of the state over the past 50 years, the Prime Minister described the day as a moment to celebrate Sikkim’s many achievements. He lauded the efforts of Sikkim Chief Minister Prem Singh Tamang and his team for organizing a grand and memorable event.

    “Fifty years ago, Sikkim charted a democratic future for itself. The people of Sikkim not only connected with India’s geography but also with its soul,” the Prime Minister remarked. He emphasized the power of inclusive democracy, saying, “When every voice is heard and rights are secured, equal opportunities for development emerge.”

    He noted the strengthened trust among Sikkim’s families and highlighted the nation’s recognition of the state’s progress. “Sikkim is the pride of the nation,” he declared, acknowledging the state’s transformation into a model of development in harmony with nature.

    “Sikkim has become a vast sanctuary of biodiversity, achieved the status of a 100% organic state, and emerged as a symbol of cultural and heritage prosperity,” the Prime Minister said. He further highlighted that Sikkim is now among the states with the highest per capita income in the country, a reflection of the people’s capabilities and hard work.

    The Prime Minister also paid tribute to the many stars from Sikkim who have illuminated India’s horizon, recognizing the rich contributions of every community toward the state’s cultural and economic prosperity.

    Since 2014, PM Modi said, his government has been guided by the principle of Sabka Saath, Sabka Vikas — development for all, with collective support. “A developed India requires balanced progress, ensuring that no region is left behind while others advance,” he stressed.

    The Prime Minister underlined the special focus on the Northeast region over the last decade. “Every state and region of India has its own unique strengths. Keeping this in mind, the government has placed the Northeast at the center of development,” he stated, adding, “The government is advancing the ‘Act East’ policy with the spirit of ‘Act Fast’.”

    Recalling the recently held Northeast Investment Summit in Delhi, PM Modi said leading industrialists and investors announced significant investments across the region, including Sikkim. “These investments will generate numerous employment opportunities for the youth of Sikkim and the entire Northeast in the coming years,” he added.

     

  • MIL-OSI: Bitget Lists Ripple USD (RLUSD) to Expand Stablecoin Offerings on Spot Market

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, May 29, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of Ripple USD (RLUSD) on its spot trading platform. RLUSD, an enterprise-grade USD-backed stablecoin issued by Ripple, enters the Bitget ecosystem at a time when demand for secure and compliant digital assets continues to rise, particularly among institutional participants and developers focused on enterprise-grade blockchain use cases.

    As a stablecoin pegged 1:1 to the U.S. dollar, RLUSD is natively issued on both the XRP Ledger (XRPL) and Ethereum, leveraging the unique strengths of each blockchain. The asset is backed by a segregated reserve held in USD fiat and cash equivalents. Bitget’s decision to list RLUSD aligns with its strategy to support strong, high utility-driven assets across its growing spot market, which serves as a curated space for projects that advance blockchain adoption through real-world applications.

    “We’re excited to partner with Ripple, a team that has consistently pushed forward the adoption of crypto,” said Gracy Chen, CEO of Bitget. “RLUSD stands out as one of the few stablecoins issued by a NYDFS-chartered limited purpose trust company, placing it in a uniquely clear regulatory framework. This is particularly important for institutions seeking transparency and compliance in today’s evolving digital asset landscape. Listing RLUSD also aligns with our 2025 strategy to expand institutional offerings and build a more robust, trusted ecosystem.”

    The RLUSD listing on Bitget expanded access and offered a trusted trading venue for one of the industry’s most closely monitored digital assets.

    Bitget continues to scale its listings to support the increasing demand of the crypto market. The integration of RLUSD responds to the ongoing wave of stablecoins gaining popularity as critical tools in decentralized finance (DeFi), gaming, and tokenized asset ecosystems.

    With an extensive selection of over 900 crypto pairs and a commitment to broadening its offerings, Bitget connects users to various ecosystems, including Bitcoin, Ethereum, Solana, Base, and TON. The addition of RLUSD signals a strategic move to embrace regulated stablecoins’s becoming a gateway to trade innovative crypto projects.

    To know more about RLUSD on Bitget please visit here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

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

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

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

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

    About Ripple

    Ripple is the leading provider of digital asset infrastructure for financial institutions and other enterprises—delivering simple, compliant, reliable software that unlocks efficiencies, reduces friction, and enhances innovation in global finance. Ripple’s solutions leverage the XRP Ledger and its native digital asset, XRP, which was purpose-built to enable fast, low-cost, highly scalable transactions across developer and financial use cases. With a proven track record of working with regulators and policymakers around the world, Ripple’s payments, custody and stablecoin solutions are pioneering the digital asset economy—building credibility and trust in enterprise blockchain. Together with customers, partners and the developer community, we are transforming the way the world creates, stores, manages and moves value.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9cba8e14-64a1-4afa-b20e-1fb01bb7d4f6

    The MIL Network –

  • MIL-OSI Australia: Funding boost for local sporting clubs

    Source: Northern Territory Police and Fire Services

    The Tuggeranong BMX Club in Kambah is one recipient of the Scheme.

    In brief:

    • The ACT Government offers the Sport and Recreation Investment Scheme.
    • The scheme is providing funding to 38 local sport, recreation and community clubs.
    • Clubs will use the funding to improve their facilities and get more Canberrans involved in sport.

    The latest round of the ACT Government’s Sport and Recreation Investment Scheme provides funding for 38 local sporting and recreation clubs.

    It will help clubs develop places for sport and active recreation that are:

    • fit for purpose
    • sustainable
    • accessible.

    The investment aims to help more Canberrans get involved in sport.

    2025 funding recipients

    The ACT Water Ski Association is one club to receive funding.

    It will use the funds to upgrade its water ski clubhouse facilities at Molonglo Reach.

    This will include a refurbished kitchen and bathrooms.

    The Tuggeranong BMX Club in Kambah will replace its BMX start gate.

    Belconnen Netball Association in Charnwood will build:

    • a new female and male toilet
    • change facilities
    • a fully accessible toilet with shower
    • better storage space.

    “We are delighted to receive this investment from the ACT Government to upgrade our off-court facilities at Charnwood to ensure they are a more welcoming and inclusive environment for all our participants and supporters,”President of Belconnen Netball Association Kim Clarke said.

    “Our current toilet and storage facilities are not suitable to cater for up to 2,000 users on competition days and this support will ensure a safe, accessible and welcoming environment for everyone to play and attend our netball activities and competitions.”

    More information on the program

    The Scheme offers four funding options. These are:

    • The Community Sport Facilities Funding Program. This supports the development of new high-quality, sustainable facilities. It also covers the upgrade of existing facilities. The goal is to help maintain or increase physical activity in the community.
    • The Club Enhancement Program. This helps sporting and recreation groups to further develop their local services and programs. It can include:
      • buying equipment
      • upskilling coaches and officials
      • supporting improvements to club governance.
    • The State Organisation Support Program. This provides funding through three-year agreements. Funds are for improving organisational capacity and capability.
    • The Industry Partnership Program. This allows the ACT Government to co-invest with state sporting organisations in projects that are:
      • innovative
      • collaborative
      • scalable
      • sustainable.

    For more information visit the Sport and Recreation website.

    Read more like this

    Get ACT news and events delivered straight to your inbox, sign up to our email newsletter:


    MIL OSI News –

  • MIL-OSI Security: Two Washington Men Sentenced to 70 Years in Prison for Producing and Distributing Child Sexual Abuse Material

    Source: Office of United States Attorneys

    Spokane, Washington – Acting United States Attorney Richard R. Barker announced that on May 27, 2025, Tony J. Bolen, age 44, and Casey Allen Greer, age 48, were sentenced for Production of Child Pornography, Conspiracy to Produce Child Pornography, and Commission of a Felony Sex Offense by an Individual Required to Register as a Sex Offender. Greer was additionally sentenced for Distribution of Child Pornography, and Bolen was sentenced for Receipt and Transportation of Child Pornography. Bolen and Greer were convicted of these crimes on November 25, 2024, following a jury trial. United States District Judge Mary K. Dimke sentenced both men to 70 years in prison, followed by a life term of supervised release.  Judge Dimke also imposed a $5,000 assessment under the Justice for Victims of Trafficking Act, as to both men, and ordered Greer to pay $18,500 in restitution to victims.

    According to court documents and information disclosed at trial and sentencing, beginning in October 2021, and continuing to December 2021, Bolen and Greer worked together to produce image and video files depicting the sexual abuse of a young child that Greer had sexually abused as early as May 2021. Bolen and Greer discussed when Greer would have access to the minor and how Greer would medicate the victim to ensure the victim’s compliance during the sexual abuse. During one such communication, Greer advised that the medication he had administered to the victim had not worked.  He stated that he needed something like chloroform to keep the victim from fighting him.  Nonetheless, Greer repeatedly sent images and videos of the sexual abuse to Bolen. In written text messages, Bolen directed Greer to sexually abuse the victim in a specific way, record the abuse, and send it to him.

    Bolen and Greer both have prior Washington State convictions for Child Molestation. Because of these convictions, Bolen and Greer were required under state and federal law to register as sex offenders at the time of the above-listed offenses.

    At sentencing, Judge Dimke advised both defendants that the conduct they engaged in was heinous and victimized both the child involved, the child’s family, and the community at large.  She stated that the intention of the 70-year sentence imposed for each defendant is to ensure that neither man was ever released back into the community.  She spoke directly to the victim and the victim’s family, thanking them for their confidence and patience with the justice system.  Judge Dimke also spoke directly to the victim, stating, “You are strong.  You are brave…this does not define you.  You have a very bright future ahead of you.”

    “The defendants’ actions in this case were nothing short of horrific. They subjected a young child to unspeakable abuse, using sleep-inducing substances to control and exploit their victim,” stated Acting U.S. Attorney Barker. I am deeply grateful to Assistant United States Attorneys Ann Wick and Laurel Holland, whose tireless efforts and personal sacrifices were instrumental in bringing these offenders to justice. Trials like this one are emotionally grueling, but AUSAs Wick and Holland remained unwavering in their commitment to the victim and to the pursuit of justice. Because of this extraordinary dedication, Mr. Bolen and Mr. Greer will never again have the opportunity to harm another child.”

    AUSA Ann Wick, one of the lead prosecutors, added, “I am profoundly moved by the bravery of victims in cases like this one. Their courage in this case has ensured that two repeat sex offenders will no longer have the chance to harm innocent children. Justice was served because of the victim’s strength.”

    “These significant sentences represent a step toward justice for the immense harm these two individuals inflicted on the victim and their family,” said ICE Homeland Security Investigations Seattle acting Special Agent in Charge Matthew Murphy. “HSI and our partners remain steadfast in our commitment to protecting the most vulnerable, and we will continue to ensure that those who commit such heinous crimes are held fully accountable.”

    “Exceptional sentencing is appropriate for exceptionally heinous criminal acts.  Certainly, those who take sexual advantage of our young and vulnerable must be removed from our streets and communities and the Washington State Patrol appreciates the many agencies involved in the successful investigation, capture, and prosecution of these dangerous individuals,” stated Washington State Patrol Chief John Batiste. 

    This case was brought as part of Project Safe Childhood, a nationwide initiative to combat the growing epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and CEOS, 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. For more information about Project Safe Childhood, please visit https://www.justice.gov/psc.

    This case was investigated jointly by Homeland Security Investigations, the Washington State Patrol, and Spokane Police Department, as part of the Internet Crimes Against Children Task Force. This case was prosecuted by Assistant United States Attorneys Ann T. Wick and Laurel J. Holland.

    MIL Security OSI –

  • MIL-OSI Security: Greece pawn shop owner pleads guilty for his role in retail theft ring involving hundreds of thousands of dollars worth of stolen merchandise

    Source: Office of United States Attorneys

    ROCHESTER, N.Y.-U.S. Attorney Michael DiGiacomo announced today that Dominic Sprague, 41, of Greece, NY, pleaded guilty before Chief U.S. District Judge Elizabeth A. Wolford to conspiracy to transport stolen goods in interstate commerce. According to the plea agreement, Sprague faces up to 72 months in prison when sentenced. 

    Assistant U.S. Attorney Kyle P. Rossi, who is handling the case, stated that between December 2021 and October 17, 2024, Sprague, who was the owner and operator of the New York Gold Diamond Pawn Shop in Greece, engaged in a conspiracy with larcenists, Amanda Reeves, Shabon Banks, Chad Lewis, Jr., and pawn shop manager James Civiletti, to buy and sell stolen goods.

    As part of the scheme, Reeves, Banks, and Lewis stole new-in-box items from store shelves on a weekly and sometimes daily basis, both alone and in concert with one another. They then sold the stolen goods to the pawn shop, which was managed by Civiletti, for a fraction of their actual retail value. The pawn shop then resold the stolen merchandise on eBay at much higher prices, resulting in significant profits. In total, the New York Gold Diamond Pawn Shop purchased 37,936 stolen new-in-box items from Reeves, Banks, and Lewis on more than 670 occasions, for which they were paid $290,000.00, which was approximately 25% of the actual retail value of the stolen items. This resulted in actual losses to the victim-retailers of approximately $1,160,000.00.

    Banks, Reeves, Lewis and Civiletti were previously convicted and are awaiting sentencing.

    The plea is the result of an investigation by the Greece Police Department, under the direction of Chief Michael Wood; the Monroe County Sheriff’s Office, under the direction of Sheriff Todd Baxter; Homeland Security Investigations, under the direction of Special Agent in Charge Erin Keegan, and the Internal Revenue Service Criminal Investigations Division, under the direction of Special Agent in Charge Harry Chavis.     

    Sentencing is scheduled for September 23, 2025, before Judge Wolford.         

    # # # #

    MIL Security OSI –

  • MIL-OSI Security: Bloods Gang Leader Convicted of Narcotics Distribution Resulting in Three Overdoses

    Source: Office of United States Attorneys

    A federal jury yesterday in Central Islip convicted Gary Johnson, a Bloods gang leader, on 22 counts of a second superseding indictment charging him with narcotics distribution, including distribution that resulted in three non-fatal overdoses, as well as a firearms-related crime.  The verdict followed a four-week trial before United States District Judge Joan M. Azrack. When sentenced, Johnson faces a mandatory minimum sentence of 20 years in prison and up to life in prison.

    Joseph Nocella, Jr., United States Attorney for the Eastern District of New York; Christopher G. Raia, Assistant Director in Charge, Federal Bureau of Investigation, New York  Field Office (FBI); and Kevin Catalina, Commissioner, Suffolk County Police Department (SCPD), announced the verdict.

    “Johnson peddled his potentially lethal drugs across Long Island while lining his pockets with profits, causing life threatening injuries to several members of our community in the process,” stated United States Attorney Nocella.  “This Office, along with our law enforcement partners, remains committed to finding, arresting, and prosecuting the drug traffickers and gang members who seek to profit from the ongoing opioid crisis and stopping all of the devastating effects these narcotics have brought with them.”

    “For years, Gary Johnson, a Bloods gang leader, carelessly supplied potentially lethal quantities of heroin and fentanyl to turn a profit,” stated FBI Assistant Director in Charge Raia.  “By distributing highly addictive narcotics, Johnson demonstrated a disregard to communal health and endangered countless residents, even causing three individuals to overdose.  With the assistance from our law enforcement partners, the FBI will never cease its mission to disrupt all criminal enterprises poisoning our communities with dangerous drugs.”

    “While nothing can take away the suffering of those who experienced life-threatening impacts caused by Johnson’s greed, let this sentence bring some solace that his crimes will not go unpunished,” stated SCPD Commissioner Catalina. “We will continue to collaborate with our law enforcement partners to ensure narcotics trafficking is ceased.”

    As proven at trial and set forth in court filings, between June 2013 and November 2020, Johnson, a leader in the G-Shine set of the Bloods based in Suffolk County, sold fentanyl, cocaine, and heroin throughout Long Island.  The drugs the defendant sold resulted in multiple victims experiencing overdoses, including three overdoses in March and May 2020.  The jury returned a verdict convicting Johnson of multiple counts of distributing heroin, cocaine, and/or fentanyl.  In connection with the overdoses, Johnson was convicted of three counts of narcotics distribution resulting in serious bodily injury.

    Johnson was also convicted of being a felon in possession of a firearm.  This charge arose from evidence recovered from Johnson’s residence when law enforcement executed a search warrant and recovered a semi-automatic firearm.  

    The government’s case is being handled by the Criminal Section of the Long Island Division.  Assistant United States  Attorneys Meredith A. Arfa, Stephen Petraeus and Mark E. Misorek are in charge of the prosecution with assistance from Paralegal Specialists Dejah Turla, Rebecca Roth, and Adam Bernard, as well as Victim Witness Specialist Stephanie Marroquin.

    The Defendant:

    GARY JOHNSON
    Age:  41
    Bellport, New York

    E.D.N.Y. Docket No. 20-CR-518 (S-2) (JMA)

    MIL Security OSI –

  • MIL-OSI New Zealand: New Development Contributions Policy approved

    Source: Auckland Council

    A new Development Contributions Policy has today been adopted by Auckland Council’s Governing Body.

    The policy ensures the cost of growth-related infrastructure is fairly shared between developers and ratepayers.

    The Contributions Policy 2025 enables the council to recover development contributions from those undertaking development. The policy supports a 30-year plan for growth-related infrastructure in the investment priority areas in Auckland.

    Auckland Council Mayor Wayne Brown said council had a rational debate and sorted this one out fairly fast.

    “At the end of it, growth pays for growth; developers must pay their fair share of the cost of infrastructure,” said Mayor Brown. “Auckland ratepayers shouldn’t be expected to shoulder a disproportionate share of the cost of growth, especially during times when households are struggling. 

    “Given there are often complaints on both sides of this, and we received over 300 pages of robust advice to support our decisions, I’m confident we have landed in the right place. 

    “This is a very significant policy for council, one that enables approximately $10 billion of investment in priority areas across Auckland. We’re doing what we need to support growth in the right places, within the constraints in front of us.” 

    Matching pace and scale of growth

    Auckland Council financial strategy general manager Michael Burns said the council is grateful for feedback on the policy, as it has helped inform a final policy that will enable infrastructure investment to match the pace and scale of Auckland’s growth.

    “This is a complex but significant piece of policy that ultimately affects both current and future Aucklanders. It ensures the cost of new infrastructure is fairly shared between developers and ratepayers, and the council appreciates the feedback from a range of stakeholders that has helped get the balance right,” says Mr Burns.

    “The new policy is informed by our long-term plan adopted last year and also supports a 30-year, $10.3 billion infrastructure investment programme in parts of Auckland where significant growth is expected and delivers quality urban environments.”

    At today’s Governing Body, councillors endorsed a 30-year programme of infrastructure investment required to support the expected development in the identified Investment Priority Areas in Auckland, and adopted the new Contributions Policy 2025 – the two collectively enabling strategic infrastructure investment across Auckland.

    The plans help meet the needs of Auckland’s forecast population growth, as 200,000 more Aucklanders are expected by 2034 and a further 400,000 by 2054. The contributions policy helps fund stormwater, transport, parks and community facilities in new and existing developments.

    The 30-year programme focuses on investment in the Inner Northwest (Redhills, Westgate and Whenuapai), Drury, Māngere, Mount Roskill and Tāmaki.

    The proposed contributions policy was revised following feedback during consultation and takes account of updated information on project requirements, developer and central government plans.

    “Auckland has experienced substantial growth in the last decade and that is expected to continue. The scale of growth means the council needs to plan now for the investment required to support that growth and to plan how it will be funded,” says Mr Burns.

    Investment priority areas

    The increased investment the council is committing to is reflected in an increased development contributions price in some areas. This is particularly so in investment priority areas – Inner Northwest, Tamaki, Mt Roskill, Mangere and Drury – where the scale of growth requires aligned funding.

    Some feedback suggested that it would be fairer for development contribution prices to increase over time rather than remain flat. The council has considered this and agreed that, while still recovering the full costs of infrastructure over time, prices should start lower and increase at 2 per cent annually. This ensures earlier developers pay a similar cost, in real terms, as those who develop later on.

    On average, development contributions in the investment priority areas, paid in the 2025/2026 financial year, will be $48,000. This is down from the $68,000 that was consulted on.

    Development contributions across the rest of Auckland (outside of investment priority areas) will remain on average $20,000 per household equivalent for the 2025/2026 year, less than the $32,000 that was consulted on.

    The policy will come into effect on 1 July 2025.

    For more information, visit aucklandcouncil.govt.nz/developmentcontributions

    – ends –

    Further information

    What is the new pricing for development contributions?
    Development contributions pricing will vary depending on a range of factors, including location, timing and investment levels by area.

    Within the period of the Long-term Plan 2024-2034, areas outside of investment priority areas will see a $8.9 billion capital investment, with $1.5 billion from development contribution at $20,000 on average (per household unit equivalent).  

    Over a 30-year period, there is a $10.3 billion of capital investment in the investment priority areas, with $4.8 billion recovered from development contributions at $48,000 on average (per household unit equivalent).  

    The table below shows the development contribution prices.

    Development contribution costs

      Previous 2022 policy
    (average cost per household unit equivalent)    		 Consultation proposal
    (average cost per household unit equivalent)    		 New 2025 policy
    (average cost per household unit in 2026 financial year increasing by 2 per cent each year)
    Inner Northwest $25,000 $98,000 $72,000
    Tāmaki $31,000 $119,000 $71,000 (with a stormwater connection)$51,000 (without a stormwater connection)
    Mt Roskill $20,000 $52,000 $33,000
    Māngere $18,000 $29,000 $27,000
    Drury $70,000 $83,000 $64,000
    Elsewhere in the Auckland region $20,000 $32,000 $20,000

    MIL OSI New Zealand News –

  • MIL-OSI: NBPE – Transaction in Own Shares

    Source: GlobeNewswire (MIL-OSI)

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

    St Peter Port, Guernsey 29 May 2025

    NB Private Equity Partners (“NBPE” or the “Company”) today announces details of Class A Shares bought back pursuant to general authority granted by shareholders of the Company on 12 June 2024 and the share buy-back agreement with Jefferies International Limited.

    Transaction on London Stock Exchange

    Date of purchase of Shares 28 May 2025
    Number of Shares purchased 1,586 Class A Shares
    Highest price/lowest price paid £14.36 / £14.22
    ISIN for the Shares GG00B1ZBD492

    All Class A Shares bought back will be cancelled. Following the cancellation, the number of outstanding Class A Shares is 45,549,961‬. The Company also has 3,150,408 Class A shares held in treasury. For reporting purposes under the FCA’s Disclosure Guidance and Transparency Rules the market should use the figure of 45,549,961 voting rights when determining if they are required to notify their interest in, or a change to their interest in the Company.

    For further information, please contact:

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

    Kaso Legg Communications        +44 (0)20 3882 6644

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

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

    LEI number: 213800UJH93NH8IOFQ77

    About Neuberger Berman

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

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

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

    The MIL Network –

  • MIL-OSI: JuCoin Solves DeFi’s Accessibility Crisis with Breakthrough CeDeFi Solution

    Source: GlobeNewswire (MIL-OSI)

    Service-driven exchange JuCoin eliminates 65% user drop-off rate by removing wallet barriers and technical friction

    SINGAPORE, May 29, 2025 (GLOBE NEWSWIRE) — JuCoin, the world’s first service-driven cryptocurrency exchange, has launched its revolutionary CeDeFi solution, empowering users to trade publicly available blockchain tokens directly through their exchange accounts without the traditional requirements of external wallets, seed phrase management, or blockchain technical knowledge.

    This industry-leading innovation directly addresses crypto’s most significant adoption barrier: industry research reveals that 65% of users abandon decentralized applications after their first interaction due to overwhelming technical complexity and poor user experience design.

    “The numbers tell the story, when nearly two-thirds of people try DeFi once and never return, we’re not dealing with a user problem, we’re dealing with a design problem,” stated Sammi Li, CEO of JuCoin. “We’ve eliminated the technical gatekeeping that has kept mainstream users locked out of blockchain innovation. Now, investing in emerging tokens is as simple as trading Bitcoin on any exchange.”

    Democratizing Access to Blockchain Innovation

    JuCoin’s CeDeFi solution delivers unprecedented accessibility through:

    • Universal Blockchain Access: Direct trading of tokens from multiple networks without platform changes
    • Centralized Portfolio Management: All blockchain assets visible and manageable through JuCoin’s interface
    • One-Click Operations: Multi-step blockchain processes reduced to single actions
    • Institutional-Level Security: JuCoin’s security infrastructure protecting all decentralized interactions

    The solution breaks down the artificial barriers between centralized and decentralized finance, allowing users to explore the full spectrum of cryptocurrency innovation while maintaining the security, support, and familiarity of their trusted exchange platform.

    Executing the Service-Driven Philosophy

    This CeDeFi launch represents the culmination of JuCoin’s service-driven approach, which transforms exchanges from simple transaction processors into comprehensive financial service providers. Drawing from CEO Sammi Li’s expertise in luxury consumer experiences, JuCoin has consistently prioritized intuitive design and seamless functionality over technical showcasing.

    “We don’t measure our success by how many features we can cram into a platform, but by how effortlessly our users can achieve their financial goals,” Li noted. “Our CeDeFi solution embodies this principle. It’s the result of making sophisticated blockchain technology completely invisible to the user experience.”

    The innovation strengthens JuCoin’s comprehensive ecosystem approach, integrating with JuChain blockchain infrastructure, JuChat social platform, and JuOne hardware solutions to create a unified Web3 experience that prioritizes accessibility without sacrificing security or functionality.

    Immediate Availability and Growth Trajectory

    JuCoin’s CeDeFi solution is fully operational and available to all platform users starting today. The launch includes complete integration with Solana blockchain tokens, with additional network support planned for systematic deployment to expand access to the broader decentralized asset universe.

    Detailed user guides and educational content are available through the JuCoin platform to help users maximize the benefits of this groundbreaking technology.

    About JuCoin

    JuCoin has operated as a leading cryptocurrency exchange since 2013, evolving into the world’s first service-driven crypto platform serving over 12 million users globally across more than 30 countries. The company maintains an integrated digital ecosystem including JuChain (Layer 1 blockchain), JuOne (Web3 AI-encrypted smartphone), JuChat (Web3 super app), and JuCoin Labs (innovation hub), all unified through the JU token.

    The company’s service-driven philosophy focuses on removing complexity from cryptocurrency interactions, making advanced blockchain capabilities accessible to all users regardless of technical expertise or background.

    Contact:
    Nicolas Tang
    nicolas_t@jucoin.com

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

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9966f22e-9134-47fb-8c75-49cf846d7b51

    The MIL Network –

  • MIL-OSI New Zealand: Q&A: AI and Privacy: The Foundation You Can’t Ignore

    Source: Privacy Commissioner

    Question

    Answer

    What is a non-OneDrive example of where content stores are risky? 

    Shared file servers, Dropbox, and email inboxes are all non-OneDrive examples. From a governance standpoint, personal OneDrive should be treated as temporary storage for drafts, not for long-term collaboration.

    Wouldn’t AI assess value (also) based on date and on words like ‘draft’? Can it be told to e.g disregard a doc with ‘confidential’ in the title or filename?

    Yes, AI can be trained to factor in metadata like document age or certain keywords. But this approach is limited and unreliable on its own. A much safer and more robust method is to apply sensitivity labels and metadata rules that formally control how content is handled. For example, Microsoft 365 tools allow you to restrict AI access based on classification, file type, or protection labels – making it much easier to enforce privacy at scale.

    For your recruitment example, what about the situation where we ‘keep a CV on file for future opportunities’? Is that not really a realistic thing to do? 

    It’s a common practice, but it needs to be done with care. You should define a retention period (e.g. 12 months), communicate this to applicants, and allow them to request deletion after the recruitment process. Also consider legal hold requirements, in case the process is challenged. Ideally, this is built into your recruitment case file template with the default settings pre-applied but flexible for roles like a Chief Executive.

    How does one get buy-in from leadership to prioritise these strategies?

    Focus on risk. Identify the highest-risk content (e.g. HR, contracts, or customer data), quantify the potential fallout of a breach, and show how practical steps can reduce exposure. You could use this session’s video or invite an external review to present findings. Often, a short, high level assessment is enough to spark action, especially when linked to regulatory or reputational risk.

    Is Teams not safe? Is SharePoint safer to collaborate internally with staff?

    They work together. Teams stores files in SharePoint and OneDrive behind the scenes. Both can be made safe with the right setup: applying retention rules, sensitivity labels, metadata, and access controls. What matters is structure. For example, a recruitment team site can be tightly scoped with the right protections, so that only authorised people can access specific content and only for as long as it’s needed.

    Love the approach to start with high-risk areas for labelling etc. HR, Legal – where else should we start? 

    Start with areas that handle high-stakes personal or sensitive data. This often includes customer service (names, addresses, complaints), regulatory consultations, and internal incident management. The key is to understand what information is created and used as part of your core business processes and to apply structured governance there first.

    So AI can really access anything on OneDrive or Teams? Is this just within the organisation or external as well? Otherwise, why would anyone even use these platforms if they are so unsecure? 

    AI like Microsoft Copilot can only access what the individual user has permission to see – it doesn’t open up content to the outside world.But not all AI tools are created equal. If you’re using a third-party tool (like ChatGPT, Gemini, or Claude), and it’s trained on your inputs, there’s a much higher risk. Always confirm the scope, access, and data use policies of any AI platform you’re considering.

    Do you think the large number of apps and programs teams (sometime multiple to communicate across) use is exposing organisations to greater risk?

    Absolutely. Every new app increases your attack surface. But this isn’t just a Microsoft problem, the pre-Teams world was full of risky, unstructured tools too. The strength of Microsoft 365 lies in its potential to consolidate and govern information. The challenge is to use it well: with structured Teams templates, sensible defaults, and good training. Done right, it can significantly reduce risk.

    Thanks Sarah. Do you do any other lectures or information sessions? It’s great to get this wide view and ideas about where to start and how to progress.

    Yes! We have recorded sessions available on our website, and we’re running upcoming workshops (June–August) on managing “high-stakes content” – covering privacy, confidentiality, and governance in practice. Let us know if you’d like an invitation.

    Thanks for the presentation Sarah. What is an IPC Workspace? 

    It depends. Privacy Officers bring the compliance lens. IT provides the tools. HR, Finance, or Operations may own the business processes. Often, the best results come from collaboration across roles – sometimes led by a CISO, or through a digital transformation project. We’re often asked to create a scoping report first – identifying key risks and recommending a practical, cross-functional way forward.

    What do you think about using AI to help you to manage your content e.g., highlight risk, old info, differing information etc.

    There’s real promise here, especially in auto classifying content or flagging risk patterns. But you need to ensure the AI only sees your data and doesn’t feed it back into public training sets. We’re working with AI to assist classification and retention. That said, good design still matters. When workspaces are built with clear rules and defaults, risk is reduced without relying solely on AI.

    I also wonder about why we don’t explicitly reference commercial sensitivity in privacy conversations. Do these have different considerations?

    It’s a great point. While commercial sensitivity isn’t covered under the Privacy Act, the governance techniques are the same: structured storage, restricted access, retention rules, and labelling. These protect business secrets just as effectively as personal information.

    (Would) one of the risks for using AI would be misinformation and manipulation?

    Definitely. Especially when AI pulls from poor-quality or untrusted sources – or if it mixes draft and final content. That’s why it’s critical to structure what AI can access and ensure human review remains part of the workflow. At this point in time, AI should be helpful, not authoritative.

    Thanks Sarah, I was at the 7th Data conference, IM only got mentioned once when it came to AI… just the once, be good to get this message in front of that crowd if you can.

    Agreed!!!

    MIL OSI New Zealand News –

  • Market open in green; Sensex tops 81,500, Nifty near 24810

    Source: Government of India

    Source: Government of India (4)

    The Indian benchmark indices opened higher on Thursday amid positive global cues, as buying was seen in the IT and metal sectors in the early trade.

    At 9:29 am, the BSE Sensex was up 237.56 points or 0.29 per cent at 81,549.88, while the NSE Nifty rose 57 points or 0.23 per cent to trade at 24,809.45.

    Sectoral indices also showed strength, with the Nifty Bank gaining 86.95 points or 0.16 per cent to 55,503.95. The Nifty Midcap 100 index was up 105.80 points or 0.19 per cent at 57,247.20, and the Nifty Smallcap 100 rose by 85.20 points or 0.48 per cent to 17,869.20.

    Despite the Nifty declining for the past two sessions, analysts noted a drop in the India VIX, indicating a lack of demand for downside protection—typically not seen when investor sentiment is bearish.

    “The 24,462 level remains crucial to determine whether this is a temporary dip or the beginning of a deeper correction. As long as the Nifty holds above this level, it remains a buyer’s market,” said Akshay Chinchalkar, Head of Research at Axis Securities.

    Among the top performers in the Sensex pack were Infosys, Tata Steel, Tech Mahindra, Sun Pharma, HCL Tech, Tata Motors, HDFC Bank, Power Grid, TCS and L&T. Bajaj Finance was the only stock in the red during early trade.

    Asian markets also opened in the green, with indices in Hong Kong, Bangkok, Seoul, China, and Japan trading higher. Jakarta was the only notable exception, trading lower.

    On Wall Street, the previous session ended in losses. The Dow Jones closed at 42,098.70, down 244.95 points or 0.58 per cent. The S&P 500 fell 32.99 points or 0.56 per cent to 5,888.55, while the Nasdaq slipped 98.23 points or 0.51 per cent to 19,100.94.

    Market sentiment remained sensitive to global developments, including U.S. tariff-related news. “The U.S. Federal Court striking down the reciprocal tariffs sends a strong message—that the President cannot act unilaterally against the interests of the market and the economy,” said Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    On the institutional front, foreign institutional investors (FIIs) were net buyers on May 28, purchasing equities worth ₹4,662.92 crore. Domestic institutional investors (DIIs) also continued their buying spree, picking up stocks worth ₹7,911.99 crore.

    — IANS

  • MIL-OSI USA: Cantwell on Trade Court Decision Striking Down Trump’s Global Tariffs

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell

    05.28.25

    Cantwell on Trade Court Decision Striking Down Trump’s Global Tariffs

    EDMONDS, WA– Today, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Finance Committee, praised the U.S. Court of International Trade for striking down Donald Trump’s global tariffs, which amounted to massive new taxes on American consumers:

    “I am glad the Court of International Trade unanimously recognized that the President exceeded his authority. We need trade to flow through our ports. The remaining 10 percent global tariffs on Europe and 30 percent tariff on China should be lifted to lower prices for American families and to stabilize supply chains for US manufacturers. And Congress and the courts should take a close look at the other tariffs the president has planned.”

    MIL OSI USA News –

  • MIL-OSI USA: Senator Murray Tours Wenatchi Landing Site, Discusses Importance of Federal Investment

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    ***PHOTOS, B-ROLL FROM VISIT HERE***

    Wenatchee, WA — Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, visited the Wenatchi Landing site to hear an update on the project and discuss how federal investment can help support the mixed-use commercial development area. Senator Murray was joined by a number of local leaders and stakeholders including Douglas County Board of Commissioners Chair Marc Straub, Vice Chair Dan Sutton, and Commissioner Randy Agnew; Chelan Douglas Regional Port Authority Commissioners Mark Spurgeon, Alan Loebsack, and Jim Huffman; Douglas County Sewer District Commissioners Wayne Barnhardt, Greg Peterson, and Cheryl Sutton; WSDOT Regional Administrator Chris Keifenhiem; CEO of Chelan Douglas Regional Port Authority Jim Kunz; Executive Director of Chelan Douglas Transportation Council Jeff Wilkens; and Link Transit CEO Nick Covey.

    During her visit, Senator Murray was briefed on the status of the project at the Douglas County Public Services Building, and then the group headed out to tour the Wentachi Landing site. Wenatchi Landing is a 317-acre mixed-use development area on the east bank of the Columbia River, across the US-2 bridge from Sunnyslope and Wenatchee. The approved Master Site Plan envisions an array of mixed-use development and amenities in the area, including housing, offices, retail spaces, business parks, resort-style hospitality, and wineries—all with access to the region’s popular Apple Capital Loop trail network. Douglas County has applied for an $18 million BUILD (formerly RAISE) grant with the U.S. Department of Transportation (DOT) to fund completion of Phase 1 of the project, and Senator Murray recently sent a letter to DOT Secretary Sean Duffy supporting Douglas County’s BUILD grant application. Another potential avenue for the project to secure federal funding is through Congressionally Directed Spending (CDS)—funding Members of Congress can direct to projects in their states and districts to support local communities. CDS funding is part of the annual appropriations bills that Senator Murray helps write and negotiate as Vice Chair of the Senate Appropriations Committee.

    “The Wentachi Landing project means so much to Douglas County—it’s going to bring more jobs, new residents, and tourism to the area with the new development of everything from a regional job center to retail and housing,” said Senator Murray. “So, it was important for me to come here to see the site, learn about the path ahead, and hear what I can do to best support this work at the federal level. I’m already exploring all avenues to help secure the funding this project needs, whether that’s helping to support grant applications or securing funding through Congressionally Directed Spending in our appropriations bills. Federal investment is going to be essential to turning the vision for Wenatchi Landing into a reality, and you can bet I will be doing everything in my power to ensure this project moves forward.”

    Chair Marc Straub said, “On behalf of the Douglas County Board of Commissioners, we are grateful to Senator Murray for her steadfast and unwavering support of the Wenatchi Landing project and her ongoing efforts to champion federal investment in our region. Wenatchi Landing represents a transformative opportunity—not just for Douglas County, but for the entire region and Washington State. This project is poised to deliver significant economic growth, attract new businesses and jobs, and enhance transportation safety and connectivity along US-2/97. With Senator Murray’s support and advocacy, we are one step closer to realizing a vibrant, sustainable, and inclusive development that will leave a lasting legacy of growth and connection for generations to come.”

    As Vice Chair of the Senate Appropriations Committee, Senator Murray writes and negotiates the annual appropriations bills—which provide federal funding across government—with her Republican counterparts every year. Washington state benefits tremendously from the BUILD—formerly RAISE—grant program Murray established. In the last round of RAISE grants—for Fiscal Year 2024, awarded in June 2024—Washington state was awarded the most grants of any state and received the most in total funding, nearly $90 million. In January, Murray announced another $56 million in RAISE grants for Washington state. President Trump renamed the RAISE grant program to Better Utilizing Investments to Leverage Development (BUILD) at the beginning of his term. Washington state’s Democratic Congressional delegation helped secure $7.5 billion for the BUILD program in the Bipartisan Infrastructure Law and have advocated strongly for Washington state’s BUILD grant applicants.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Government Launches He Ara Whakahihiko Capability Fund

    Source: Ministry of Business Innovation and Employment (MBIE)

    The New Zealand Government has unveiled the He Ara Whakahihiko Capability Fund, a new investment initiative designed to accelerate the growth of the Māori economy through science, innovation, and technology.

    Formed through the merger of the Te Pūnaha Hihiko – Vision Mātauranga Capability Fund and the He Aka Ka Toro Navigation Fund, He Ara Whakahihiko represents a streamlined, future-focused approach to public investment. The fund aims to strengthen the capability of the science system and the Māori economy to collaborate as a powerful engine of economic growth.

    The fund will back science projects that foster effective partnerships between Māori-facing organisations and established research organisations, with a strong emphasis on commercialisation and measurable economic outcomes.

    He Ara Whakahihiko is structured around 2 focused funding streams:

    • Ara Whaihua – Impact Pathways for Research: Supporting 12-month, implementation-ready research programmes with a clear path to commercialisation.
    • Rangapū Rangahau – Research Partnerships: Investing in 2-year science initiatives that build enduring connections between Māori-facing organisations and the science and innovation ecosystem.

    Aligned with the Government’s broader vision for science investment, He Ara Whakahihiko is a bold step toward a more innovative and economically vibrant New Zealand.

    In parallel, an additional $1.982 million annually will be administered by the Health Research Council of New Zealand to grow Māori health research capability.

    More information about the fund is on the MBIE website:

    He Ara Whakahihiko Capability Fund

    Read the Minister’s announcement:

    New science fund to boost Māori economy(external link) — Beehive.govt.nz

    MIL OSI New Zealand News –