Category: Finance

  • MIL-OSI: Elite Capital & Co. Appointed as Exclusive Manager of NextGen Industrial Development Fund in Landmark 10-Year Tenure

    Source: GlobeNewswire (MIL-OSI)

    LONDON, May 27, 2025 (GLOBE NEWSWIRE) — Mr. George Matharu, President and CEO of Elite Capital & Co. Limited, announced today that Elite Capital & Co. has been appointed as the exclusive manager of the NextGen Industrial Development Fund® for the next decade, effective 1st May 2025. This strategic transition follows a rigorous evaluation by the Fund’s Board of Trustees, underscoring Elite Capital’s proven expertise in large-scale industrial financing and sustainable development.

    “This partnership marks a pivotal shift in how industrial growth is catalysed across the MENA region and beyond. By merging NextGen’s innovative equity-based model with our global financial acumen, we are redefining risk-sharing and entrepreneurial empowerment. Our ISO triple-certified governance (ISO 9001, 27001, and 37001) ensures transparency, security, and anti-bribery compliance, critical for fostering trust in high-stakes industrial projects,” Mr. George Matharu said.

    A paradigm shift in industrial financing, the NextGen Fund’s unique “equity-not-debt” approach eliminates traditional barriers like collateral requirements and predatory loans, which historically contribute to a 72% failure rate among industrial startups in emerging markets (World Bank, 2023). Under Elite Capital’s stewardship, the Fund will scale its mission to:

    1. Build factories via shared-equity partnerships, covering land, infrastructure, and licensing.
    2. Leverage MENA’s logistical edge, reducing supply chain costs by 30% compared to Asia-Europe routes (McKinsey, 2024).
    3. Fast-track bureaucratic processes, cutting 18-month licensing delays through government alliances (IMF data).

    Dr. Faisal Khazaal, Chairman of Elite Capital & Co. Limited and Head of the Government Future Financing 2030 Program®, added, “This aligns with our vision of ‘finance without sovereignty burdens.’ Just as the Government Future Financing 2030 Program funds 80% of national projects without sovereign debt, NextGen’s model allows entrepreneurs to thrive without personal guarantees. Our partnership with MENA governments ensures factories are co-owned by local stakeholders, blending public oversight with private innovation.”

    Decade of transformation, Elite Capital’s tenure will focus on:

    – Risk-sharing: Partners retain 100% of early profits; losses are mutual.
    – Cross-border solutions: NextGen’s trusted partner USD/EUR accounts mitigate forex risks for international sales.
    – Sustainability: Factories engineered for ESG compliance, from energy grids to R&D hubs.

    Mr. George Matharu concluded his statement by saying: “To every entrepreneur who has been told “your sector isn’t bankable”, NextGen is proof otherwise. We don’t just fund factories; we build legacies. The industrial revolution of the 21st century begins here.”

    NextGen Industrial Development Fund – Contact Details –

    Suite RA01, 64 Nile Street
    London, N1 7SR
    United Kingdom

    Website: nidfund.org

    Elite Capital & Co. – Contact Details –

    Elite Capital & Co. Limited
    33 St. James Square
    London, SW1Y4JS
    United Kingdom

    Telephone: +44 (0) 203 709 5060
    SWIFT Code: ELCTGB21
    LEI Code: 254900NNN237BBHG7S26

    Website: ec.uk.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/576e981b-b506-4054-9f2d-83c7f6a7da0b

    The MIL Network

  • MIL-OSI Russia: South Korean police impose foreign travel ban on former prime minister and vice prime minister

    Translation. Region: Russian Federal

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

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

    SEOUL, May 27 (Xinhua) — South Korean police have imposed an overseas travel ban on former Prime Minister Han Deok-soo and former Vice Prime Minister and Finance Minister Choi Sang-mok as part of an investigation into an alleged coup, local media reported Tuesday.

    According to them, the former high-ranking officials are suspected of mutiny. The ban on their foreign travel came into force in mid-May.

    The police’s special investigation unit summoned Han Duk-soo and Choi Sang-mok, as well as former Interior Minister Ri Sang-min, who was barred from leaving the country last December, for questioning on Monday.

    Three former government officials are suspected of involvement in a failed attempt by former President Yoon Seok-yeol, who was ousted in April, to impose martial law. –0–

    MIL OSI Russia News

  • MIL-OSI Economics: Secretary-General of ASEAN holds bilateral meeting with President of AIIB

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today held a bilateral meeting with President of the Asian Infrastructure Investment Bank (AIIB), H.E. Jin Liqun, on the sidelines of the 46th ASEAN Summit and Related Summits, in Kuala Lumpur, Malaysia.
     
    The meeting exchanged views on key initiatives such as the ASEAN Power Grid (APG) and the development of the ASEAN Connectivity Strategic Plan, as well as other potential areas of further cooperation in infrastructure connectivity and resilience.

    The post Secretary-General of ASEAN holds bilateral meeting with President of AIIB appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI: Annexus and North American Expand Partnership With the Launch of Secure Horizon Indexed Universal Life Insurance

    Source: GlobeNewswire (MIL-OSI)

    SCOTTSDALE, Ariz., May 27, 2025 (GLOBE NEWSWIRE) — Annexus, a leading retirement product design company, has announced its continued collaboration with North American Company for Life and Health Insurance®, one of the largest issuers of life insurance and annuity products in the United States. The two companies launched Secure HorizonSM Indexed Universal Life Insurance (Secure Horizon IUL), a breakthrough life insurance product designed to provide death benefit protection alongside a suite of supplemental retirement benefits and strong accumulation potential.

    “The launch of Secure Horizon IUL represents the next evolution of our partnership with Annexus and our shared commitment to innovation,” said Jerry Blair, president of Sammons Life Insurance Group. “Together with Annexus, we are reimagining the untapped possibilities in life insurance product design.”

    Secure Horizon IUL features strong death benefit protection and accumulation potential through index options including the S&P PRISM®Index, the best-performing live smart beta index in the IUL industry since 2018,1 and the Research Affiliates®Global Multi-Asset Index, which provides diversified exposure to global stocks, bonds and commodities while using a proprietary risk management process to manage volatility. Both indices are available in 1-, 2- and 3-year strategy terms with participation rates as high as 410%. In addition, Secure Horizon IUL will feature an S&P 500®Index Trigger strategy and a Dual Trigger Strategy that provides the opportunity to credit interest in up, flat and even some down markets.

    “We are excited to launch Secure Horizon IUL, a new product that includes some truly innovative benefits designed to help protect against major risks in retirement,” said Ron Shurts, co-founder and CEO of Annexus. “This is the first time an IUL will offer a Longevity Benefit Base that can be used to provide guaranteed lifetime income, a benefit if social security is reduced, and an enhanced death benefit that could be greater than the policy’s death benefit.”

    The SecureStage Supplemental Benefits EndorsementSM (SecureStage) is automatically included on all Secure Horizon IUL policies. SecureStage is powered by an industry-first Longevity Benefit Base that grows by 150% of the net credited interest.2 The Longevity Benefit Base can be used for any of the following three benefits:

    • LifePay Income Benefit: provides a stream of guaranteed lifetime income clients cannot outlive
    • PlanGap®Benefit: the first solution within an IUL designed to help offset a potential future reduction in social security benefits3
    • Enhanced Death Benefit: a legacy benefit that may be greater than the death benefit offered under the policy payable over five years

    Secure Horizon IUL also offers living benefits through the Accelerated Death Benefit Endorsement, which enables policyowners to use a portion of the death benefit if diagnosed with a qualifying critical, chronic or terminal illness.4, 5 Together these supplemental benefits can help address six of the major risks clients face in retirement.

    Advisors, Registered Investment Advisors (RIAs), and insurance professionals seeking access to this product should contact their Annexus-affiliated Independent Distribution Company. If you are a consumer interested in learning about Secure Horizon IUL, ask your financial professional for more information.

    About Annexus

    For nearly two decades, Annexus has developed market-leading fixed indexed annuities, registered indexed-linked annuities, and indexed universal life insurance products that help Americans grow and protect their retirement savings. The company has built strategic relationships with the industry’s top insurance carriers and some of the world’s largest investment banks. For more information, visit Annexus.

    About North American Company for Life and Health Insurance
    North American Company for Life and Health Insurance® is a member of Sammons® Financial Group, Inc. They offer a comprehensive portfolio of term and indexed universal life insurance products, as well as a wide variety of traditional fixed and fixed index annuities. Learn more about North American.

    1 Based on all 5% volatility control smart beta live performance indices in the Indexed Universal Life market as of 4/15/25. Index performance from 12/31/2017 – 12/31/2024.

    2 Net credited interest is any index credit and interest credit minus Index Credit and interest credit attributed to interest bonus on fixed interest participating loans.

    3 The PlanGap® Benefit is known as the Income Gap Benefit in the contract. The PlanGap® Benefit is not a replacement for Social Security benefits but provides a benefit designed to mitigate a reduction. For purposes of this Endorsement, reduction means a reduction in Social Security benefits due to a change implemented by the Social Security Administration or other federal law or regulation. It does not include reductions in your Social Security benefits based upon your actions (including any elections under Social Security or changes to your Social Security elections) or change in circumstances. PlanGap® is a registered trademark of PlanGap, LLC and is used pursuant to a license. The Benefit can be elected if the Income Gap Benefit Index is reduced by more than 3%. Limited to the insured’s policy age being between age 62 and 85 and waiting period of 10 years for issue ages 0-59, and 5 years for issue ages 60+.

    North American Company for Life and Health Insurance® is not affiliated with PlanGap® or the Social Security Administration. North American’s product(s) are not sponsored, endorsed, sold, or promoted by the Social Security Administration, and they make no representation regarding the advisability of purchasing of the product(s).

    4 Payment of accelerated death benefits paid under the endorsement is intended for favorable tax treatment under Section 101(g) of the Internal Revenue Code.

    5 Accelerated death benefits subject to eligibility requirements. An administrative fee may be required at the time of election. The death benefit will be reduced by the amount of the death benefit accelerated. Since benefits are paid prior to death, a discount will be applied to the death benefit accelerated. As a result, the actual amount received will be less than the amount of the death benefit accelerated.

    The “S&P 500®” and “S&P PRISM” (“the Indices”) are products of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and have been licensed for use by North American Company for Life and Health Insurance® (“the Company”). S&P®, S&P 500®, US 500, The 500, iBoxx®, iTraxx® and CDX® are trademarks of S&P Global, Inc. or its affiliates (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). It is not possible to invest directly in an index. The Company’s Product is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or any of their respective affiliates (collectively, “S&P Dow Jones Indices”). S&P Dow Jones Indices does not make any representation or warranty, express or implied, to the owners of the Company’s Product or any member of the public regarding the advisability of investing in securities generally or in the Company’s Product particularly or the ability of the Indices to track general market performance. Past performance of an index is not an indication or guarantee of future results. S&P Dow Jones Indices’ only relationship to the Company with respect to the Indices is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The Indices are determined, composed and calculated by S&P Dow Jones Indices without regard to the Company or the Company’s Product. S&P Dow Jones Indices has no obligation to take the needs of the Company or the owners of the Company’s Product into consideration in determining, composing or calculating the Indices. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of the Company’s Product. There is no assurance that investment products based on the Indices will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment adviser, commodity trading advisory, commodity pool operator, broker dealer, fiduciary, “promoter” (as defined in the Investment Company Act of 1940, as amended), “expert” as enumerated within 15 U.S.C. § 77k(a) or tax advisor. Inclusion of a security, commodity, crypto currency or other asset within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, commodity, crypto currency or other asset, nor is it considered to be investment advice or commodity trading advice.

    S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE INDICES OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY THE COMPANY, OWNERS OF THE COMPANY’S PRODUCT, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDICES OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. S&P DOW JONES INDICES HAS NOT REVIEWED, PREPARED AND/OR CERTIFIED ANY PORTION OF, NOR DOES S&P DOW JONES INDICES HAVE ANY CONTROL OVER, THE COMPANY’S PRODUCT REGISTRATION STATEMENT, PROSPECTUS OR OTHER OFFERING MATERIALS. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND THE COMPANY, OTHER THAN THE LICENSORS OF S&P DOWJONES INDICES.

    The Research Affiliates® Global Multi-Asset Index (the “Index”) is a service mark of RAFI Indices, LLC or its affiliates (collectively, “RAFI”) and has been licensed for certain use by North American Company for Life and Health Insurance® (“the Company”). The intellectual and other property rights to the Index are owned by or licensed to RAFI. Use and distribution of the Index or any included data and RAFI’s service marks requires RAFI’s written permission. This IUL (the “Product”) is not sponsored, endorsed, sold or promoted by RAFI or any of its third-party service providers or suppliers including data licensors and index calculators (“RAFI and its suppliers”).

    The Index is an excess return index and does not allocate to any interest-bearing cash rate allocations. Because of this, an excess return version of an index will have lower performance than a total return version of the same index would, especially in high interest rate environments.

    Past performance of an index is not an indicator of or a guarantee of future results. Hypothetical and simulated examples have inherent limitations and are generally prepared with the benefit of hindsight. There are often differences between simulated results and the actual results. There are numerous factors related to the markets in general or the implementation of any specific investment strategy, which cannot be fully accounted for in the preparation of simulated results and all of which can adversely affect actual results. RAFI and its suppliers make no representations or warranties regarding the advisability of investing in the Product or the ability of the Index to provide any particular market performance. RAFI is not acting as an investment adviser to you and has no fiduciary duties to you in connection with the Index or the Product. RAFI and its suppliers are not responsible for and have not participated in the (i) development, marketing, issuance or management of the Product, (ii) the determination of the timing of, prices, at or quantities of the Product to be issued, or (iii) calculation of the equation by which the Product is redeemable.

    RAFI and its suppliers have no obligation or liability to the owners of the Product and any decision to purchase or invest in the Product is at your own risk. RAFI and its suppliers obtain information from sources they consider reliable but do not guarantee the accuracy, completeness or completeness of the Index or any data included therein, all of which are provided on an “as is” basis.

    RAFI and its suppliers make no warranty as to the results that may be obtained by the Company, the Company’s customers and counterparties, owners of the Product or anyone else from the use of the Index or included data as licensed or for any other use. RAFI and its suppliers disclaim all warranties and representations, including any warranties of merchantability or fitness for a particular purpose or use, with respect to the Index or any included data. In no event will RAFI or its suppliers be liable for any damages, including direct, indirect, special, punitive and consequential damages (including lost profits), even if notified of the possibility of such damages.

    The term financial professional is not intended to imply engagement in an advisory business in which compensation is not related to sales. Financial professionals that are insurance licensed will be paid a commission on the sale of an insurance product.

    Secure Horizon IUL is issued on form P100/ICC22P100 (policy), E100/ICC22E100, E101/ICC22E101, E103/ICC22E103, E104/ICC22E104, E105/ICC22E105, E109/ICC22E109, E110/ICC22E110, E111/ICC22E111, E115/ICC24E115, E117, R100/ICC23R100, R101/ICC23R101, R102/ICC23R102, R103/ICC23R103, R106/ICC22R106, (riders/endorsements) or appropriate state variation by North American Company for Life and Health Insurance®, West Des Moines, IA. Products, features, endorsements, riders or issue ages may not be available in all states. Limitations or restrictions may apply.

    Sammons Financial® is the marketing name for Sammons® Financial Group, Inc.’s member companies, including North American Company for Life and Health Insurance®. Annuities and life insurance are issued by, and product guarantees are solely the responsibility of, North American Company for Life and Health Insurance.

    The MIL Network

  • MIL-OSI: Bitget Expands into Real-World Assets with BGUSD, Offering Daily Yields and High Liquidity

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, May 27, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced the launch of BGUSD, a yield-bearing stable asset certificate designed to enhance capital efficiency and provide passive income opportunities for users worldwide. BGUSD is fully integrated into the platform’s trading and wealth management infrastructure, offering a multifaceted utility layer backed by real-world assets. BGUSD is redeemable for USDC at a 1:1 ratio and can be subscribed using USDC or USDT. Holding BGUSD provides users with an annualized yield starting at 4%, credited daily to their spot accounts based on their minimum daily balance. For the first 30 days following launch, a promotional APY of 5% will apply.

    The asset derives its yield from a diversified basket of tier 1 tokenized real-world assets, including high-grade money market funds and tokenized US Treasury products. This disciplined yield structure is supported by a diversified asset allocation, institutional-grade infrastructure, and partnerships with multiple leading tokenization service providers, including Superstate (via their tokenized treasury fund USTB).

    “At Bitget, our mission has always been to prioritize our users’ needs — whether they come from the crypto-native community, institutional circles, or traditional finance. With BGUSD, we are delivering a solution that bridges the best of both worlds: the transparency and innovation of crypto with the stability and yield opportunities traditionally found in real-world assets. We’ve built BGUSD to unlock passive income and make yield generation as seamless as holding a stablecoin. This launch is a new step in how we connect traditional finance’s strengths with the agility of Web3 — and it’s just the beginning,” said Gracy Chen, CEO at Bitget.

    This structure positions BGUSD as a secure, yield-generating alternative within the platform, minimizing exposure to crypto market volatility while maintaining full liquidity through redemption options. Users can opt for instant redemptions, fulfilled from Bitget’s reserve pool, or standard redemptions with settlement within three business days. Subscription and redemption fees are fixed at 0.1%.

    More than a tool for preservation, BGUSD is built for active deployment and fully supports Bitget’s broader ecosystem. It can be used as lending collaterals, futures margin, Launchpool, and PoolX. The asset’s full-scenario usability contributes to enhanced capital retention and supports platform-level strategies aimed at generating stable, risk-adjusted returns. Through self-managed allocation and collaborations with reputable financial institutions, the product ensures diversification and mitigates concentration risk. By bridging traditional finance instruments with on-chain accessibility, BGUSD delivers a resilient solution in contrast to existing offerings, combining stable returns with full transparency.

    For more information on BGUSD, 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.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/179b25fe-1d19-467b-a3b2-bae3d42a37df

    The MIL Network

  • MIL-OSI United Kingdom: London man convicted of possession of two forged SIA licences

    Source: United Kingdom – Executive Government & Departments

    Press release

    London man convicted of possession of two forged SIA licences

    A man found in possession of 2 forged SIA licences has pleaded guilty to fraud and been ordered to pay £2,600 in fines and costs.

    On 14 May 2025, Charles Ibikunle pleaded guilty at Highbury Corner Magistrates’ Court to 2 counts of fraud in relation to a pair of forged SIA licences found in his possession.

    The Metropolitan Police stopped Mr Ibikunle while he was driving a vehicle, at which point they found the 2 licences which were later confirmed to be forged. The Metropolitan Police then referred this case to the SIA.

    The SIA invited Mr Ibikunle to attend an interview about the forged licences, which he declined to attend. This resulted in a court summons.

    In response to his guilty plea, the court ordered Mr Ibikunle to pay a fine of £1,000 for each offence, as well as a victim surcharge of £400 and prosecution costs of £200, totalling £2,600.

    Tara Moutray, SIA Criminal Investigations Manager, said:

    Charles Ibikunle put the public at risk by forging SIA licences. Being responsible for other people’s security is a significant responsibility and requires dedicated training that Mr Ibikunle did not have. I am happy to see that the court imposed a sizeable financial penalty as a result of these offences.

    We’re grateful to our partners in the Metropolitan Police for their support, not just in this case but for the SIA’s work as a whole.

    Background

    By law, security operatives working under contract must hold and display a valid SIA licence. Information about SIA enforcement and penalties can be found on GOV.UK/SIA.

    The offence relating to the Fraud Act 2006 that is mentioned above is: 

    • Section 6 – Possession of articles for use in fraud

    The SIA is the organisation responsible for regulating the private security industry in the UK, reporting to the Home Secretary under the terms of the Private Security Industry Act 2001. The SIA’s main duties are the compulsory licensing of individuals undertaking designated activities and managing the voluntary Approved Contractor Scheme (ACS).

    Media enquiries

    For media enquiries only, please contact:

    SIA press office

    Updates to this page

    Published 27 May 2025

    MIL OSI United Kingdom

  • MIL-OSI Africa: Ivanhoe Mines President and Chief Financial Officer (CFO) to Speak at African Mining Week 2025

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

    CAPE TOWN, South Africa, May 27, 2025/APO Group/ —

    Marna Cloete, President and Chief Financial Officer (CFO) of Canadian mining firm Ivanhoe Mines will speak at the upcoming African Mining Week.

    During the event, Cloete will participate in the Women in Leadership Forum, Highlighting the vital role women are playing in driving sustainability, innovation, and inclusive growth within the mining sector. African Mining Week serves as a critical platform for advancing gender inclusivity in the sector, uniting policymakers, investors, academics, and mining stakeholders to foster a sustainable future for the industry.

    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.

    Cloete will join a high-level panel discussion titled Mergers, Acquisitions, and Partnerships: Building Resilience in a Consolidating Industry, exploring the role of partnerships in ensuring supply chain resilience. Under Cloete’s financial leadership, Ivanhoe Mines has achieved several milestones, including partnerships with global players such as Zijin Mining, CITIC Metal, and Itochu; raising $490 million through equity in December 2023; and securing a $750 million debt package in early 2024 to support expansion.

    Her leadership has also been instrumental in the advancement of Ivanhoe Mines’ flagship projects, including the Kamoa-Kakula Copper Complex – the world’s highest-grade copper project – in the Democratic Republic of Congo (DRC). Ivanhoe Mines also reopened the Kipushi Mine, one of the largest copper deposits globally, in the DRC while expanding its African footprint by entering Zambia’s copper-rich North-Western Province and developing the Flatreef platinum group metals project in South Africa. Ivanhoe’s $75 million exploration budget for 2025, with a strong focus on Africa, further underscores its commitment to unlocking the continent’s mineral potential.

    African Mining Week represents an ideal platform for Cloete to share Ivanhoe Mines’ strategic investment approach, champion partnerships, and discuss the firm’s ongoing contribution to African economic growth, employment, and industrialization. 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.

    MIL OSI Africa

  • MIL-OSI Economics: Bangladesh and New Development Bank Co-Host High-Level Seminar on Accountability and Learning in Development

    Source: New Development Bank

    Dhaka, Bangladesh, 26 May 2025: The Economic Relations Division (ERD) of Bangladesh’s Ministry of Finance and the New Development Bank’s (NDB) Independent Evaluation Office (IEO), Internal Audit Department and Compliance and Investigations Department co-hosted a high-level seminar in Dhaka focused on embedding accountability, evaluation, and integrity at the heart of development projects—key pillars for delivering on Bangladesh’s growth priorities.

    The seminar, titled “Transforming Development: Building a Culture of Accountability through Evaluation, Auditing, and Ethics” highlighted NDB’s approach to sustainable development through integrated evaluation, audit, and compliance systems. With over 150 participants—including senior level policymakers, development experts, private sector leaders and others—it served as a dynamic platform for cross-learning among emerging economies.

    Opening the event, His Excellency Dr. Salehuddin Ahmed, Honourable Adviser of the Ministry of Finance, underscored Bangladesh’s commitment to strengthening governance in public investment: “The foundation of sustainable development rests on three pillars: accountability, transparency, and ethical governance. These are not abstract ideals-they are practical necessities. Evaluation, auditing, and compliance are the tools that help us build these pillars. They ensure that our policies and projects do not merely exist on paper, but deliver real, tangible benefits to our citizens.”

    Mr. Md. Shahriar Kader Siddiky, Secretary of the Economic Relations Division, added: “We must learn from international experiences and adapt global best practices to our own context. The presence of distinguished experts and partners from the New Development Bank, as well as from key ministries and agencies, is a valuable opportunity for dialogue and knowledge exchange.”

    The one-day event featured keynote addresses from global leaders in development policy. Nobel Laureate Professor Abhijit Banerjee, of the Massachusetts Institute of Technology, emphasised the value of evidence-based policymaking and timely impact evaluations in ensuring that development investments deliver real results.

    H.E. Dr. Rania A. Al-Mashat, Egypt’s Minister of Planning, Economic Development and International Cooperation, and NDB Governor, shared her country’s efforts to strengthen project transparency through digital monitoring platforms, offering insights relevant to fast-growing economies like Bangladesh.

    Participants also explored key themes including the role of evaluation in accelerating the achievement of the United Nations’ Sustainable Development Goals (SDGs), private sector engagement in development interventions, risk-based internal auditing, and ethical standards in development finance. These sessions were led by senior officials from NDB and enriched by perspectives from international partners such as the Asian Development Bank, the Department of Planning, Monitoring and Evaluation of South Africa, the Ministry of Finance, Brazil, and the International Fund for Agricultural Development.

    “Good development isn’t just about how much is built, but how well it lasts—economically, socially, and institutionally,” said Mr. Henrique Pissaia, Principal Professional Specialist at NDB’s Independent Evaluation Office. “This seminar showed that accountability and learning are catalysts for better results. Bangladesh’s leadership in this space reflects our shared commitment to making learning, ethics, and South-South knowledge exchange central to impact-driven development.”

    The seminar signalled growing cooperation between NDB and Bangladesh, which joined the Bank in 2021 – the first non-BRICS country to do so. As the Government of Bangladesh continues to scale up its infrastructure ambitions, today’s discussions underscored the importance it places on good governance, evaluability and long-term sustainability, as well as NDB’s commitment to working closely with Bangladesh, financing infrastructure and sustainable development projects that support its national development objectives and commitments under the SDGs.

    MIL OSI Economics

  • MIL-OSI Asia-Pac: SFST visits Toronto and calls on enterprises to develop wealth management and family businesses in Hong Kong (with photos)

    Source: Hong Kong Government special administrative region

    SFST visits Toronto and calls on enterprises to develop wealth management and family businesses in Hong Kong Issued at HKT 11:38

    The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his five-day visit to Canada on May 26 (Toronto Time). His first stop was Toronto, where he met with representatives of two banks and an insurance group immediately after his arrival in the city.

    Mr Hui arrived in Toronto in the afternoon. He started his itinerary with a meeting with the Group Head, RBC Wealth Management, Mr Neil McLaughlin, and Executive Vice President and Global Head, Strategy, Products and Digital Investing, Mr Stuart Rutledge, of the Royal Bank of Canada. He then proceeded to Scotiabank to meet with its Group Head for Global Wealth Management, Ms Jacqui Allard, and Vice President, Strategic Cultural Segments, Mr Amit Brahme.

    Both banks are deeply interested in the development of the wealth management business in Hong Kong. Mr Hui shared that Hong Kong is currently the largest cross-border wealth management hub in Asia, and some anticipate that Hong Kong will leap into first place globally by 2028. The family office business is an important segment of the asset and wealth management sector in Hong Kong. As of end-2023, the size of private banking and private wealth management business attributed to family offices and private trusts clients reached US$185.2 billion (HK$1,452 billion), providing huge business opportunities for the asset and wealth management sector and other related professional services (such as legal and accounting services). Mr Hui also highlighted the diversity of financial products in Hong Kong and the latest passage of the stablecoins legislation, providing investors with numerous investment options. The banks were encouraged to utilise the developmental strengths of Hong Kong’s asset and wealth management industry and establish their presence in Hong Kong.

    Mr Hui also met with the Group Vice President and Head of Asia of Power Corporation of Canada, Mr Henry Liu, this evening. He introduced to him the facilitation and concession provided by the Government to family offices looking to set up or expand their business in Hong Kong, such as no licence being required for a single family office under the Securities and Futures Ordinance if it does not carry on a business of regulated activity in Hong Kong. Single family offices can also enjoy profit tax exemption for qualifying transactions. Mr Hui highlighted the Government’s efforts in enhancing the preferential tax regimes for funds, single family offices and carried interest, including expanding the scope of “fund” under the tax exemption regime, increasing the types of qualifying transactions eligible for tax concessions for funds and single family offices and enhancing the tax concession arrangement on the distribution of carried interest by private equity funds. The Government targets working out the details of the proposals by this year and submitting the legislative proposals to the Legislative Council for consideration in 2026, striving to implement the relevant measures from the year of assessment 2025/26. Mr Hui called on the company to leverage the ideal business environment with stability and predictability to set up family offices in Hong Kong. Power Corporation of Canada operates a wide range of businesses covering North America, Europe and Asia, including insurance, wealth management and investment businesses.

    On May 27 (Toronto Time), Mr Hui will visit two insurance companies, meet with the Hong Kong-Canada Business Association (Toronto Chapter) and attend a business luncheon with financial leaders in Toronto. He will also pay a courtesy call to the Consul-General of the People’s Republic of China in Toronto.

    Ends/Tuesday, May 27, 2025
    Issued at HKT 11:38

    MIL OSI Asia Pacific News

  • MIL-OSI Europe: France: Treefrog Therapeutics secures €30 million from EIB marking a significant milestone in the company’s journey to accelerate the field of cell therapy

    Source: European Investment Bank

    EIB

    • €30 million financing with mix of dilutive and venture debt financing
    • Funds to advance Parkinson’s disease cell therapy program to the clinic and further develop their internal pipeline of cell therapies
    • Deal benefits from guarantee under European Commission’s Invest EU program

    TreeFrog Therapeutics, a French biotech specializing in cell therapy has secured a €30 million financing from the European Investment Bank (EIB). The financing will support the advancement of their lead cell therapy program in Parkinson’s Disease to the clinic. Funds will also be used to reinforce their internal pipeline in other disease areas with large unmet needs.

    Regenerative medicine holds immense potential to revolutionize healthcare to treat or cure some of the world’s unmet needs in diseases of the major organs, such as the heart, lungs, pancreas and brain. Parkinson’s disease is the second most common neurodegenerative disorder and the fastest growing with more than 10 million people worldwide suffering from the disease. Prevalence doubled in the last 25 years and is expected to double again before 2050. Current solutions treat symptoms only. The cell therapy in development at TreeFrog has the potential to be a best-in-class treatment due to its unique 3D format microtissues, developed from induced pluripotent cells (iPSC). The program is on track to be ready for a first-in-human trial in 2027. 

    The €30 million financing will be available in 3 tranches of €10 million each, with TreeFrog benefiting from a new vehicle from the EIB, mixing dilutive financing, hence no principal repayment required for the initial two tranches and venture debt for the last tranche. The initial €10 million will be withdrawn during the second quarter of 2025. EIB’s investment aligns with the InvestEU objective of fostering research, development and innovation.

    Ambroise Fayolle, vice-president of the EIB, said: “Regenerative medicine is a field that has growing importance as life expectancy rises and some diseases are still untreated. This EIB is keen to support young, dynamic European and French companies that focus on research, development and product innovation. Support from InvestEU is testimony of a wider European interest in TreeFrog’s business model and new solutions for the health sector”.

    Jaime Arango, Chief Finance Officer, TreeFrog Therapeutics, said: “We are delighted to receive this support from EIB which bolsters our cash visibility trajectory and enables us to bring our Parkinson’s cell therapy to the clinic, while also reinforcing our internal pipeline of cell therapies in other disease areas.”

    TreeFrog’s success in attracting investment and partners to date is based on their proprietary technology platform, C-Stem . This platform addresses some of the major challenges by producing high quality cells, efficiently, at commercial scale. C-Stem combines microfluidics and stem cell biology to mimic the natural environment for cells. The cells are encapsulated in alginate capsules seeded with iPSCs. These capsules protect the cells, allowing them to do what they do naturally – self-organise and grow. The protected cells are nurtured and nourished, expand exponentially and can be turned into any type of cell in large-scale bioreactors without damage and stress. This results in 3D microtissues that have unique benefits in terms of quality and functionality and integrate well after transplant.

    Background information

    About EIB

    The European Investment Bank (EIB), whose shareholders are the Member States of the European Union (EU), is the EU’s long-term financing institution. Across eight major priorities, we support investments in climate action and the environment, digital transition and technological innovation, security and defense, cohesion, agriculture and the bioeconomy, social infrastructure, capital markets union, and a stronger Europe in a more peaceful and prosperous world. In 2024, the EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing in support of more than 900 projects in Europe and worldwide. In France, the EIB Group signed over a hundred operations in 2024 for a total amount of €12.6 billion. Nearly 60% of the EIB Group’s annual financing supports projects contributing to climate change mitigation and adaptation, as well as the creation of a healthier environment.

    About TreeFrog Therapeutics

    TreeFrog Therapeutics is a French-based regenerative medicine biotech set to unlock access to cell therapies for millions of patients. TreeFrog is unique in its approach to cell therapy development, bringing together biophysicists, cell biologists and bioproduction engineers to address the challenges of the industry – producing and differentiating cells of quality at unprecedented scale, cost-effectively. To succeed in their mission of Cell Therapy for all, TreeFrog operates a business model that includes its own therapeutic programs and partnerships with leading biotech and industry players. Since 2021, the company has raised $82 million to advance a pipeline of stem cell-based therapies in regenerative medicine.

    MIL OSI Europe News

  • MIL-OSI: XRP News: Buy $XDX By XenDex On XRP Ledger As Ripple Acquires Circle While Volatility Shares Launches XRPI Futures ETF

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, May 27, 2025 (GLOBE NEWSWIRE) — XenDex is moving to end its presale in about 24 hours, and top crypto analysts have confirmed that the $XDX token with its utility, has the potential of attaining various all time high and great profits for its holders because of the massive adoption it witnessed in the XRP community. With its unique features, and problems it aims to solve, XenDex is positioning itself to be the next go-to DeFi on the Ripple blockchain, and their spokesperson has confirmed that the pre token sale will end in about 24 hours. To buy and hold some $XDX tokens, please visit XenDex Docs.

    Buy $XDX Before Listing On Binance

    While Ripple (XRP) is once again making headlines after reports emerged that it’s in talks to acquire Circle, the issuer of the popular USDC stablecoin, and the bullish momentum of the launch of Volatility Shares’ XRPI Futures ETF, the first of its kind, signaling rising institutional appetite for XRP, XenDex is positioning itself as the most promising decentralized exchange (DEX) on the XRP Ledger.

    What is XenDex On XRP Blockchain?

    XenDex is the first all-in-one decentralized exchange (DEX) built natively on the XRP Ledger (XRPL). The platform offers secure, fast, and low-fee trading, combined with advanced DeFi tools like AI copy trading, non-custodial lending & borrowing, and cross-chain swaps, all from a clean, intuitive dashboard built for mass adoption.

    Purchase $XDX At A low Price

    Features And Problems XenDex Aims To Solve on XRP Ledger?

    • AI Copy Trading – Automatically mimic trades from top-performing wallets, and minimize losses
    • Lending & Borrowing – Lend or borrow crypto assets on XenDex without intermediaries
    • Cross-Chain Trading – Swap XRP with tokens across Ethereum, Solana, and BNB Chain
    • DAO Governance – Let $XDX holders vote on upgrades and listings

    Why Should I Buy $XDX?

    Asides from making profits from potential pump upon listing on various exchanges, holding $XDX gives you:

    • Voting rights over platform upgrades
    • Staking and liquidity rewards
    • Reduced trading, lending and borrowing fees
    • Access to exclusive platform features & airdrops

    Where Can I Trade $XDX?

    After presale, $XDX will be listed on: Binance, Gate.io, MEXC, BitMart, FirstLedger, MagneticX

    Is XenDex A Legit Project On XRP?

    Purchase XDX And Earn Rewards

    Yes. XenDex is backed by experienced developers and is undergoing third-party smart contract audits. It’s already integrated with top XRPL tools like Xaman, XRP Toolkit, and Gitbook.

    How Do I Buy $XDX?

    XenDex Presale Details

    • Soft Cap: Reached
    • Hard Cap: Almost Filled
    • Time Left: Only 1 Day Remaining

    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/ea571100-e2a3-405e-9bcc-65422870842a

    The MIL Network

  • MIL-OSI: Castellum, Inc. Announces Information Concerning 2025 Annual Stockholders Meeting

    Source: GlobeNewswire (MIL-OSI)

    VIENNA, Va., May 27, 2025 (GLOBE NEWSWIRE) — Castellum, Inc. (NYSE-American: CTM) (“Castellum” or “CTM”), a cybersecurity, electronic warfare, and software engineering services company focused on the federal government, reminds stockholders that its 2025 annual meeting of stockholders (“2025 Annual Meeting”) will be held on Wednesday, May 28, 2025 at 10:00 a.m. (Eastern Time) and that stockholders of record on the close of business on March 21, 2025, will be entitled to notice of, and to vote at, the 2025 Annual Meeting and any adjournment or postponement thereof.

    The 2025 Annual Meeting will be held at the offices of Pillsbury Winthrop Shaw Pittman LLP, 7900 Tysons One Place, Suite 500, Tysons, VA 22102, and will be conducted in person and virtually via live audio conference call. Stockholders interested in accessing the live audio conference call may dial 1 (800) 715-9871 or 1 (646) 307-1963. The conference identification number is 9842123.

    After adjourning the 2025 Annual Meeting, members of CTM’s management will conduct an informal presentation followed by a question-and-answer session. A copy of the informal presentation is posted to the Company’s website under the “Investor” tab at https://investors.castellumus.com/events-and-presentations/default.aspx. Investors are encouraged to download a copy of the presentation on Tuesday morning when available, as it will not be presented live.

    About Castellum, Inc. (NYSE-American: CTM):

    Castellum, Inc. (NYSE-American: CTM) is a cybersecurity, electronic warfare, and software engineering services company focused on the federal government – https://castellumus.com/.

    Cautionary Statement Concerning Forward-Looking Statements:

    This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent the Company’s expectations or beliefs concerning future events and can generally be identified by the use of statements that include words such as “estimate,” “project,” “believe,” “anticipate,” “shooting to,” “intend,” “plan,” “foresee,” “likely,” “will,” “would,” “appears,” “goal,” “target” or similar words or phrases. Forward-looking statements include, but are not limited to, statements regarding the Company’s expectations for revenue growth and new customer opportunities, improvements to cost structure, and profitability. Forward-looking statements include, but are not limited to, statements regarding the Company’s expectations for revenue growth and new customer opportunities and other customers, improvements to cost structure, and profitability. These forward-looking statements are subject to risks, uncertainties, and other factors, many of which are outside of the Company’s control, that could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, including, among others: the Company’s ability to compete against new and existing competitors; its ability to effectively integrate and grow its acquired companies; its ability to identify additional acquisition targets and close additional acquisitions; the impact on the Company’s revenue due to a delay in the U.S. Congress approving a federal budget, operating under a prolonged continuing resolution, government shutdown, or breach of the debt ceiling, as well as the imposition by the U.S. government of sequestration in the absence of an approved budget; the ability of the U.S. federal government to unilaterally cancel a contract with or without cause, and more specifically, the potential impact of the U.S. DOGE Service Temporary Organization on government spending and terminating contracts for convenience. For a more detailed description of these and other risk factors, please refer to the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission (“SEC”) which can be viewed at www.sec.gov. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. The Company expressly disclaims any intent or obligation to update any of the forward-looking statements made in this release or in any of its SEC filings except as may be otherwise stated by the Company.

    Contact:

    Glen Ives
    President and Chief Executive Officer
    Phone: (703) 752-6157
    info@castellumus.com
    https://castellumus.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/50f4abcc-d3ff-42eb-aabc-339704b54996

    The MIL Network

  • MIL-OSI United Kingdom: First stage Central Library improvements completed paving way for Adult Education works

    Source: City of Wolverhampton

    The 1970s extension to the rear of the library has been internally remodelled, providing 2 new first floor offices, along with WCs, a kitchenette and ground floor space for booking deliveries, sorting and collections.

    This paves the way for further works to be undertaken by contractor Speller Metcalfe, with Adult Education Wolverhampton’s Alan Garner Building on Old Hall Street set to undergo internal remodelling and refurbishment, plus the construction of a 2 storey glazed link building to connect it directly to Central Library’s 1930s extension.

    Ongoing works on the restoration of the building façade and roof of the Grade II* listed library started in November, with a new rear entrance lobby and landscaping also in the pipeline.

    The overall redevelopment will create a modernised, reconfigured and accessible, digitally enabled Central Library for the public and an expanded centralised Adult Education provision that meets post-16 learner and employer demands.

    The improved Central Library and Adult Education Wolverhampton facilities will sit alongside a new state of the art education facility for City of Wolverhampton College currently being constructed by McLaughlin & Harvey on the site of the college’s former Metro One campus and land on the corner of Garrick Street and Bilston Street, where the Faces nightclub building once stood.

    Central Library and Adult Education Wolverhampton are continuing to operate throughout the works, which are expected to be completed during the winter.

    The council’s Cabinet Member for City Development, Jobs and Skills, Councillor Chris Burden, said: “The improvement works to Central Library and our Adult Education facilities are integral to our City Learning Quarter vision alongside the new college campus being developed.

    “Together they will provide state of the art facilities in the city centre and improve life chances for people of all ages through learning, apprenticeship and employment offers.

    “The restoration and development of the Grade II* listed library and Adult Education building will enhance the offer for current users of these services and attract new users, providing an inspirational learning environment that is easy to reach by bus, rail, tram and bicycle.”

    Ninder Johal, Chair of Wolverhampton’s City Investment Board, said: “Excellent progress is being made in delivering Wolverhampton City Learning Quarter.

    “This regeneration will ensure the city’s Central Library and Adult Education facilities are the best they can be to support the delivery of an outstanding education and skills offer and enhanced public facilities.”

    The exciting City Learning Quarter proposals were initially supported by investment from the council with a further £49 million coming through UK Government funding, plus additional government grants and contributions from the college and council.

    It will pave the way for City of Wolverhampton College to move from its 1960s Paget Road site, which has been identified as land to build much needed housing.

    The college forecasts that over a 10 year period approximately 45,000 people will benefit from learning at the City Learning Quarter and around 7,500 apprenticeships will be started.

    Its central location and close proximity to the new £150 million transport interchange will make it easily accessible. It will also boast environmental benefits in line with council’s climate emergency agenda.

    MIL OSI United Kingdom

  • MIL-OSI Asia-Pac: President Lai meets and hosts luncheon for delegation led by Governor Lourdes A. Leon Guerrero of Guam

    Source: Republic of China Taiwan

    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.

    Details
    2025-05-13
    President Lai interviewed by Japan’s Nikkei  
    In a recent interview with Japan’s Nikkei, President Lai Ching-te responded to questions regarding Taiwan-Japan and Taiwan-United States relations, cross-strait relations, the semiconductor industry, and the international economic and trade landscape. The interview was published by Nikkei on May 13. President Lai indicated that Nikkei, Inc. is a global news organization that has received significant recognition both domestically and internationally, and that he is deeply honored to be interviewed by Nikkei and grateful for their invitation. The president said that he would like to take this rare opportunity to thank Japan’s government, National Diet, society, and public for their longstanding support for Taiwan. Noting that current Prime Minister Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio have all strongly supported Taiwan, he said that the peoples of Taiwan and Japan also have a deep mutual affection, and that through the interview, he hopes to enhance the bilateral relationship between Taiwan and Japan, deepen the affection between our peoples, and foster more future cooperation to promote prosperity and development in both countries. In response to questions raised on the free trade system and the recent tariff war, President Lai indicated that over the past few decades, the free economy headed by the Western world and led by the US has brought economic prosperity and political stability to Taiwan and Japan. At the same time, he said, we have also learned or followed many Western values. The president said he believes that Taiwan and Japan are exemplary students, but some countries are not. Therefore, he said, the biggest crisis right now is China, which exploits the free trade system to engage in plagiarism and counterfeiting, infringe on intellectual property rights, and even provide massive government subsidies that facilitate the dumping of low-priced goods worldwide, which has a major impact on many countries including Japan and Taiwan. If this kind of unfair trade is not resolved, he said, the stable societies and economic prosperity we have painstakingly built over decades, as well as some of the values we pursue, could be destroyed. Therefore, President Lai said he thinks it is worthwhile for us to observe the recent willingness of the US to address unfair trade, and if necessary, offer assistance. President Lai emphasized that the national strategic plan for Taiwanese industries is for them to be rooted in Taiwan while expanding their global presence and marketing worldwide. Therefore, he said, while the 32 percent tariff increase imposed by the US on Taiwan is indeed a major challenge, we are willing to address it seriously and find opportunities within that challenge, making Taiwan’s strategic plan for industry even more comprehensive. When asked about Taiwan’s trade arrangements, President Lai indicated that in 2010 China accounted for 83.8 percent of Taiwan’s outbound investment, but last year it accounted for only 7.5 percent. In 2020, he went on, 43.9 percent of Taiwan’s exports went to China, but that figure dropped to 31.7 percent in 2024. The president said that we have systematically transferred investments from Taiwanese enterprises to Japan, Southeast Asia, Europe, and the US. Therefore, he said, last year Taiwan’s largest outbound investment was in the US, accounting for roughly 40 percent of the total. Nevertheless, only 23.4 percent of Taiwanese products were sold to the US, with 76.6 percent sold to places other than the US, he said.  The president emphasized that we don’t want to put all our eggs in one basket, and hope to establish a global presence. Under these circumstances, he said, Taiwan is very eager to cooperate with Japan. President Lai stated that at this moment, the Indo-Pacific and international community really need Japan’s leadership, especially to make the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) excel in its functions, and also requested Japan to support Taiwan’s CPTPP accession. The president said that Taiwan hopes to sign an Economic Partnership Agreement (EPA) with Japan to build closer ties in economic trade and promote further investment, and that we also hope to strengthen relations with the European Union, and even other regions. Currently, he said, we are proposing an initiative on global semiconductor supply chain partnerships for democracies, because the semiconductor industry is an ecosystem. The president raised the example that Japan has materials, equipment, and technology; the US has IC design and marketing; Taiwan has production and manufacturing; and the Netherlands excels in equipment, saying we therefore hope to leverage Taiwan’s advantages in production and manufacturing to connect the democratic community and establish a global non-red supply chain for semiconductors, ensuring further world prosperity and development in the future, and ensuring that free trade can continue to function without being affected by dumping, which would undermine future prosperity and development. The president stated that as we want industries to expand their global presence and market internationally while staying rooted here in Taiwan, having industries rooted in Taiwan involves promoting pay raises for employees, tax cuts, and deregulation, as well as promoting enterprise investment tax credits. He said that we have also proposed Three Major Programs for Investing in Taiwan for Taiwanese enterprises and are actively resolving issues regarding access to water, electricity, land, human resources, and professional talent so that the business community can return to Taiwan to invest, or enterprises in Taiwan can increase their investments. He went on to say that we are also actively signing bilateral investment agreements with friends and allies so that when our companies invest and expand their presence abroad, their rights and interests as investors are ensured.  President Lai mentioned that Taiwan hopes to sign an EPA with Japan, similar to the Taiwan-US Initiative on 21st-Century Trade and the Economic Prosperity Partnership Dialogue, or the Enhanced Trade Partnership arrangement with the United Kingdom, or similar agreements or memorandums of understanding with Canada and Australia that allow Taiwanese products to be marketed worldwide, concluding that those are our overall arrangements. Looking at the history of Taiwan’s industrial development, President Lai indicated, of course it began in Taiwan, and then moved west to China and south to Southeast Asia. He said that we hope to take this opportunity to strengthen cooperation with Japan to the north, across the Pacific Ocean to the east, and develop the North American market, making Taiwan’s industries even stronger. In other words, he said, while Taiwan sees the current reciprocal tariffs imposed by the US as a kind of challenge, it also views these changes positively. On the topic of pressure from China affecting Taiwan’s participation in international frameworks such as the CPTPP or its signing of an EPA with Japan, President Lai responded that the key point is what kind of attitude we should adopt in viewing China’s acts of oppression. If we act based on our belief in free trade, he said, or on the universal values we pursue – democracy, freedom, and respect for human rights – and also on the understanding that a bilateral trade agreement between Taiwan and Japan would contribute to the economic prosperity and development of both countries, or that Taiwan’s accession to the CPTPP would benefit progress and prosperity in the Indo-Pacific region, then he hopes that friends and allies will strongly support us. On the Trump administration’s intentions regarding the reciprocal tariff policy and the possibility of taxing semiconductors, as well as how Taiwan plans to respond, President Lai said that since President Trump took office, he has paid close attention to interviews with both him and his staff. The president said that several of President Trump’s main intentions are: First, he wants to address the US fiscal situation. For example, President Lai said, while the US GDP is about US$29 trillion annually, its national debt stands at US$36 trillion, which is roughly 124 percent of GDP. Second, he went on, annual government spending exceeds US$6.5 trillion, but revenues are only around US$4.5 trillion, resulting in a nearly US$2 trillion deficit each year, about 7 percent of GDP. Third, he said, the US pays nearly US$1.2 trillion in interest annually, which exceeds the US$1 trillion defense budget and accounts for more than 3 percent of GDP. Fourth, President Trump still wants to implement tax cuts, aiming to reduce taxes for 85 percent of Americans, he said, noting that this would cost between US$500 billion and US$1 trillion. These points, President Lai said, illustrate his first goal: solving the fiscal problem. President Lai went on to say that second, the US feels the threat of China and believes that reindustrialization is essential; without reindustrialization, the US risks a growing gap in industrial capacity compared to China. Third, he said, in this era of global smart technology, President Trump wants to lead the nation to become a world center of AI. Fourth, he aims to ensure world peace and prevent future wars, President Lai said. In regard to what the US seeks to achieve, he said he believes these four areas form the core of the Trump administration’s intentions, and that is why President Trump has raised tariffs, demanded that trading partners purchase more American goods, and encouraged friendly and allied nations to invest in the US, all in order to achieve these goals. President Lai indicated that the 32 percent reciprocal tariff poses a critical challenge for Taiwan, and we must treat it seriously. He said that our approach is not confrontation, but negotiation to reduce tariffs, and that we have also agreed to measures such as procurement, investment, resolving non-tariff trade barriers, and addressing origin washing in order to effectively reduce the trade deficit between Taiwan and the US. Of course, he said, through this negotiation process, we also hope to turn challenges into opportunities. The president said that first, we aim to start negotiations from the proposal of zero tariffs and seek to establish a bilateral trade agreement with the US. Second, he went on, we hope to support US reindustrialization and its aim to become a world AI hub through investment, while simultaneously upgrading and transforming Taiwan’s industries, which would help further integrate Taiwan’s industries into the US economic structure, ensuring Taiwan’s long-term development.  President Lai emphasized again that Taiwan’s national industrial strategy is for industries to stay firmly rooted in Taiwan while expanding their global presence and marketing worldwide. He repeated that we have gone from moving westward across the Taiwan Strait, to shifting southbound, to working closer northward with Japan, and now the time is ripe for us to expand eastward by investing in North America. In other words, he said, while we take this challenge seriously to protect national interests and ensure that no industry is sacrificed, we also hope these negotiations will lead to deeper Taiwan-US trade relations through Taiwanese investment in the US, concluding that these are our expectations. The president stated that naturally, the reciprocal tariffs imposed by the US will have an impact on Taiwanese industries, so in response, the Taiwanese government has already proposed support measures for affected industries totaling NT$93 billion. In addition, he said, we have outlined broader needs for Taiwan’s long-term development, which will be covered by a special budget proposal of NT$410 billion, noting that this has already been approved by the Executive Yuan and will be submitted to the Legislative Yuan for review. He said that this special budget proposal addresses four main areas: supporting industries, stabilizing employment, protecting people’s livelihoods, and enhancing resilience. As for tariffs on semiconductors, President Lai said, Taiwan Semiconductor Manufacturing Company (TSMC) has committed to investing in the US at the request of its customers. He said he believes that TSMC’s industry chain will follow suit, and that these are concrete actions that are unrelated to tariffs. However, he said, if the US were to invoke Section 232 and impose tariffs on semiconductors or related industries, it would discourage Taiwanese semiconductor and ICT investments in the US, and that we will make this position clear to the US going forward. President Lai indicated that among Taiwan’s exports to the US, there are two main categories: ICT products and electronic components, which together account for 65.4 percent. These are essential to the US, he said, unlike final goods such as cups, tables, or mattresses. He went on to say that what Taiwan sells to the US are the technological products required by AI designers like NVIDIA, AMD, Amazon, Google, and Apple, and that therefore, we will make sure the US understands clearly that we are not exporting end products, but the high-tech components necessary for the US to reindustrialize and become a global AI center. Furthermore, the president said, Taiwan is also willing to increase its defense budget and military procurement. He stated that Taiwan is committed to defending itself and is strongly willing to cooperate with friends and allies to ensure regional peace and stability, and that this is also something President Trump hopes to see. Asked whether TSMC’s fabs overseas could weaken Taiwan’s strategic position as a key hub for semiconductor manufacturing, and whether that could then give other countries fewer incentives to protect Taiwan, President Lai responded by saying that political leaders around the world including Japan’s Prime Minister Ishiba and former Prime Ministers Abe, Suga, and Kishida have emphasized, at the G7 and other major international fora, that peace and stability in the Taiwan Strait are essential for global security and prosperity. In other words, he explained, the international community cares about Taiwan and supports peace and stability in the Taiwan Strait because Taiwan is located in the first island chain in the Indo-Pacific, directly facing China. He pointed out that if Taiwan is not protected, China’s expansionist ambitions will certainly grow, which would impact the current rules-based international order. Thus, he said, the international community willingly cares about Taiwan and supports stability in the Taiwan Strait – that is the reason, and it has no direct connection with TSMC. He noted that after all, TSMC has not made investments in that many countries, stressing that, on that point, it is clear. President Lai said that TSMC’s investments in Japan, Europe, and the US are all natural, normal economic and investment activities. He said that Taiwan is a democratic country whose society is based on the rule of law, so when Taiwanese companies need to invest around the world for business needs, the government will support those investments in principle so long as they do not harm national interests. President Lai said that after TSMC Chairman C.C. Wei (魏哲家) held a press conference with President Trump to announce the investment in the US, Chairman Wei returned to Taiwan to hold a press conference with him at the Presidential Office, where the chairman explained to the Taiwanese public that TSMC’s R&D center will remain in Taiwan and that the facilities it has already committed to investing in here will not change and will not be affected. So, the president explained, to put it another way, TSMC will not be weakened by its investment in the US. He further emphasized that Taiwan has strengths in semiconductor manufacturing and is very willing to work alongside other democratic countries to promote the next stage of global prosperity and development. A question was raised about which side should be chosen between the US and China, under the current perception of a return to the Cold War, with East and West facing off as two opposing blocs. President Lai responded by saying that some experts and scholars describe the current situation as entering a new Cold War era between democratic and authoritarian camps; others assert that the war has already begun, including information warfare, economic and trade wars, and the ongoing wars in Europe – the Russo-Ukrainian War – and the Middle East, and the Israel-Hamas conflict. The president said that these are all matters experts have cautioned about, noting that he is not a historian and so will not attempt to define today’s political situation from an academic standpoint. However, he said, he believes that every country has a choice, which is to say, Taiwan, Japan, or any other nation does not necessarily have to choose between the US and China. What we are deciding, he said, is whether our country will maintain a democratic constitutional system or regress into an authoritarian regime, and this is essentially a choice of values – not merely a choice between two major powers. President Lai said that Taiwan’s situation is different from other countries because we face a direct threat from China. He pointed out that we have experienced military conflicts such as the August 23 Artillery Battle and the Battle of Guningtou – actual wars between the Republic of China and the People’s Republic of China. He said that China’s ambition to annex Taiwan has never wavered, and that today, China’s political and military intimidation, as well as internal united front infiltration, are growing increasingly intense. Therefore, he underlined, to defend democracy and sovereignty, protect our free and democratic system, and ensure the safety of our people’s lives and property, Taiwan’s choice is clear. President Lai said that China’s military exercises are not limited to the Taiwan Strait, and include the East China Sea, South China Sea, and even the Sea of Japan, as well as areas around Korea and Australia. Emphasizing that Taiwan, Japan, Australia, and the Philippines are all democratic nations, the president said that Taiwan’s choice is clear, and that he believes Japan also has no other choice. We are all democratic countries, he said, whose people have long pursued the universal values of democracy, freedom, and respect for human rights, and that is what is most important. Regarding the intensifying tensions between the US and China, the president was asked what roles Taiwan and Japan can play. President Lai responded that in his view, Japan is a powerful nation, and he sincerely hopes that Japan can take a leading role amid these changes in the international landscape. He said he believes that countries in the Indo-Pacific region are also willing to respond. He suggested several areas where we can work together: first, democracy and peace; second, innovation and prosperity; and third, justice and sustainability. President Lai stated that in the face of authoritarian threats, we should let peace be our beacon and democracy our compass as we respond to the challenges posed by authoritarian states. Second, he added, as the world enters an era characterized by the comprehensive adoption of smart technologies, Japan and Taiwan should collaborate in the field of innovation to further drive regional prosperity and development. Third, he continued, is justice and sustainability. He explained that because international society still has many issues that need to be resolved, Taiwan and Japan can cooperate for the public good, helping countries in need around the world, and cooperating to address climate change and achieve net-zero transition by 2050. Asked whether he hopes that the US will continue to be a leader in the liberal democratic system, President Lai responded by saying that although the US severed diplomatic ties with the Republic of China, for the past few decades it has assisted Taiwan in various areas such as national defense, security, and countering threats from China, based on the Taiwan Relations Act and the Six Assurances. He pointed out that Taiwan has also benefited, directly and indirectly, in terms of politics, democracy, and economic prosperity thanks to the US, and so Taiwan naturally hopes that the US remains strong and continues to lead the world. President Lai said that when the US encounters difficulties, whether financial difficulties, reindustrialization issues, or becoming a global center for AI, and hopes to receive support from its friends and allies to jointly safeguard regional peace and stability, Taiwan is willing to stand together for a common cause. If the US remains strong, he said, that helps Taiwan, the Indo-Pacific region, and the world as a whole. Noting that while the vital role of the US on the global stage has not changed, the president said that after decades of shouldering global responsibilities, it has encountered some issues. Now, it has to make adjustments, he said, stating his firm belief that it will do so swiftly, and quickly resume its leadership role in the world. Asked to comment on remarks he made during his election campaign that he would like to invite China’s President Xi Jinping for bubble tea, President Lai responded that Taiwan is a peace-loving country, and Taiwanese society is inherently kind, and therefore we hope to get along peacefully with China, living in peace and mutual prosperity. So, during his term as vice president, he said, he was expressing the goodwill of Taiwanese society. Noting that while he of course understands that China’s President Xi would have certain difficulties in accepting this, he emphasized that the goodwill of Taiwanese society has always existed. If China reflects on the past two or three decades, he said, it will see that its economy was able to develop with Taiwan as its largest foreign investor. The president explained that every year, 1 to 2 million Taiwanese were starting businesses or investing in China, creating numerous job opportunities and stabilizing Chinese society. While many Taiwanese businesses have profited, he said, Chinese society has benefited even more. He added that every time a natural disaster occurs, if China is in need, Taiwanese always offer donations. Therefore, the president said, he hopes that China can face the reality of the Republic of China’s existence and understand that the people of Taiwan hope to continue living free and democratic lives with respect for human rights. He also expressed hope that China can pay attention to the goodwill of Taiwanese society. He underlined that we have not abandoned the notion that as long as there is parity, dignity, exchange, and cooperation, the goodwill of choosing dialogue over confrontation and exchange over containment will always exist. Asked for his view on the national security reforms in response to China’s espionage activities and infiltration attempts, President Lai said that China’s united front infiltration activities in Taiwan are indeed very serious. He said that China’s ambitions to annex Taiwan rely not only on the use of political and military intimidation, but also on its long-term united front and infiltration activities in Taiwanese society. Recently, he pointed out, the Taiwan High Prosecutors Office of the Ministry of Justice prosecuted 64 spies, which is three times the number in 2021, and in addition to active-duty military personnel, many retired military personnel were also indicted. Moreover, he added, Taiwan also has the Chinese Unification Promotion Party, which has a background in organized crime, Rehabilitation Alliance Party, which was established by retired military personnel, and Republic of China Taiwan Military Government, which is also composed of retired generals. He explained that these are all China’s front organizations, and they plan one day to engage in collaboration within Taiwan, which shows the seriousness of China’s infiltration in Taiwan. Therefore, the president said, in the recent past he convened a high-level national security meeting and proposed 17 response strategies across five areas. He then enumerated the five areas: first, to address China’s threat to Taiwan’s sovereignty; second, to respond to the threat of China’s obscuring the Taiwanese people’s sense of national identity; third, to respond to the threat of China’s infiltrating and recruiting members of the ROC Armed Forces as spies; fourth, to respond to the threat of China’s infiltration of Taiwanese society through societal exchanges and united front work; and fifth, to respond to the threat of China using “integration plans” to draw Taiwan’s young people and Taiwanese businesses into its united front activities. In response to these five major threats, he said, he has proposed 17 response strategies, one of which being to restore the military trial system. He explained that if active-duty military personnel commit military crimes, they must be subject to military trials, and said that this expresses the Taiwanese government’s determination to respond to China’s united front infiltration and the subversion of Taiwan. Responding to the question of which actions Taiwan can take to guard against China’s threats to regional security, President Lai said that many people are worried that the increasingly tense situation may lead to accidental conflict and the outbreak of war. He stated his own view that Taiwan is committed to facing China’s various threats with caution. Taiwan is never the source of these problems, he emphasized, and if there is an accidental conflict and it turns into a full-scale war, it will certainly be a deliberate act by China using an accidental conflict as a pretext. He said that when China expanded its military presence in the East China Sea and South China Sea, the international community did not stop it; when China conducted exercises in the Taiwan Strait, the international community did not take strong measures to prevent this from happening. Now, he continued, China is conducting gray-zone exercises, which are aggressions against not only the Taiwan Strait, the South China Sea, and the East China Sea, but also extending to the Sea of Japan and waters near South Korea. He said that at this moment, Taiwan, the Philippines, Japan, and even the US should face these developments candidly and seriously, and we must exhibit unity and cooperation to prevent China’s gray-zone aggression from continuing to expand and prevent China from shifting from a military exercise to combat. If no action is taken now, the president said, the situation may become increasingly serious. Asked about the view of some US analysts who point out that China will have the ability to invade Taiwan around 2027, President Lai responded that Taiwan, as the country on the receiving end of threats and aggression, must plan for the worst and make the best preparations. He recalled a famous saying from the armed forces: “Do not count on the enemy not showing up; count on being ready should it strike.” This is why, he said, he proposed the Four Pillars of Peace action plan. First, he said, we must strengthen our national defense. Second, he added, we must strengthen economic resilience, adding that not only must our economy remain strong, but it must also be resilient, and that we cannot put all our eggs in the same basket, in China, as we have done in the past. Third, he continued, we must stand shoulder to shoulder with friends and allies such as Japan and the US, as well as the democratic community, and we must demonstrate the strength of deterrence to prevent China from making the wrong judgment. Fourth, he emphasized, as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China and seek cross-strait peace and mutual prosperity through exchanges and cooperation. Regarding intensifying US-China confrontation, the president was asked in which areas he thinks Taiwan and Japan should strengthen cooperation; with Japan’s Ishiba administration also being a minority government, the president was asked for his expectations for the Ishiba administration. President Lai said that in the face of rapid and tremendous changes in the political situation, every government faces considerable challenges, especially for minority governments, but the Japanese government led by Prime Minister Ishiba has quite adequately responded with various strategies. Furthermore, he said, Japan is different from Taiwan, explaining that although Japan’s ruling party lacks a majority, political parties in Japan engage in competition domestically while exhibiting unity externally. He said that Taiwan’s situation is more challenging, because the ruling and opposition parties hold different views on the direction of the country, due to differences in national identity. The president expressed his hope that in the future Taiwan and Japan will enjoy even more comprehensive cooperation. He stated that he has always believed that deep historical bonds connect Taiwan and Japan. Over the past several decades, he said, when encountering natural disasters and tragedies, our two nations have assisted each other with mutual care and support. He said that the affection between the people of Taiwan and Japan is like that of a family. Pointing out that both countries face the threat of authoritarianism, he said that we share a mission to safeguard universal values such as democracy, freedom, and respect for human rights. The president said that our two countries should be more open to cooperation in various areas to maintain regional peace and stability as well as to strengthen cooperation in economic and industrial development, such as for semiconductor industry chains and everyday applications of AI, including robots and drones, adding that we can also cooperate on climate change response, such as in hydrogen energy and other strategies. He said our two countries should also continue to strengthen people-to-people exchanges. He then took the opportunity to once again invite our good friends from Japan to visit Taiwan for tourism and learn more about Taiwan, saying that the Taiwanese people wholeheartedly welcome our Japanese friends.  

    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: Golar LNG Limited Interim results for the period ended March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    Highlights and subsequent events

    • Golar LNG Limited (“Golar” or “the Company”) reports Q1 2025 net income attributable to Golar of $8 million, Adjusted EBITDA1 of $41 million and Total Golar Cash1 of $678 million.
    • Concluded the 20-year charter of FLNG Hilli for Southern Energy S.A. (“SESA”) in Argentina.
    • Signed definitive agreements for a 20-year charter for the MKII FLNG to SESA. Combined with the FLNG Hilli charter, the project will be for 5.95 mtpa of nameplate capacity – one of the world’s largest FLNG development projects.
    • FLNG Gimi in final stages of commissioning on the GTA field, Commercial Operations Date (“COD”) expected within Q2.
    • MKII FLNG conversion vessel Fuji LNG arrived at the shipyard for conversion works, conversion project on schedule for Q4 2027 delivery.
    • FLNG Hilli maintained market-leading operational track record and delivered its 132nd LNG cargo since contract start-up.
    • Sold minority shareholding in Avenir LNG Limited.
    • Completed exit from LNG shipping segment with sale of Golar Arctic.
    • Declared dividend of $0.25 per share for the quarter.
    • Progressed FLNG growth opportunities with commercial leads, shipyard availability and long lead equipment timing.

    FLNG Hilli: Maintained leading operational track record with 132 cargoes offloaded to date and over 9 million tons of LNG produced since operations commenced.

    Final Investment Decision (“FID”) for the 20-year redeployment of FLNG Hilli to Southern Energy in Argentina concluded (further details provided in the SESA charter agreements section). A dedicated team has progressed detailed work on Hilli’s re-deployment scope, vessel upgrade and transit to her new location.

    Following the conclusion of FLNG Hilli’s re-deployment contract, we will initiate discussions for debt optimization that reflects the strong earnings visibility for the FLNG unit.

    FLNG Gimi: In January 2025, the bp operated FPSO provided feedgas from the GTA field allowing for full commissioning to commence, triggering the final upward adjustment to the commissioning rate under the commercial reset agreed in August 2024. First LNG was achieved in February and in April 2025, FLNG Gimi completed the offload of its first full LNG cargo. This introduced Mauritania and Senegal as LNG exporters to the international gas market and triggered the final pre-COD milestone bonus payment to Golar under the terms of the commercial reset. COD, which remains on schedule for Q2 2025, triggers the start of the 20-year Lease and Operate Agreement that unlocks the equivalent of around $3 billion of Adjusted EBITDA backlog1 (Golar’s share) and recognition of contractual payments comprised of capital and operating elements in both the balance sheet and income statement.

    As of May 2025, Golar has invoiced $195.9 million of pre-COD fees under the commercial reset arrangements, with this amount currently recognized on the balance sheet.

    On March 20, 2025, a $1.2 billion debt facility to refinance FLNG Gimi was signed with a consortium of leading Chinese leasing companies. The contemplated sale and leaseback facility features a tenor of 12 years and a 17-year amortization profile. Upon closing and repayment of the existing debt facility, Gimi MS Corporation is expected to generate net proceeds of approximately $530 million. This amount includes the release of existing interest rate swaps. Golar stands to benefit from 70% of these proceeds, equivalent to approximately $371 million. The transaction remains subject to customary closing conditions and third party stakeholder approvals. Golar has also progressed a rating process to further evaluate debt optimization alternatives for the vessel during the quarter.

    MKII FLNG 3.5 MTPA conversion: Conversion work on the $2.2 billion MKII FLNG is proceeding to schedule. The conversion vessel Fuji LNG entered CIMC’s Yantai yard in February 2025 and in April the vessel was successfully separated into forward and aft sections. A mid-ship section housing the liquefaction unit will be inserted between and attached to the refurbished forward and aft sections later in the conversion process. Fabrication of the topsides for the mid-ship section is also underway. As of March 31, 2025, Golar has spent $0.7 billion on the MKII FLNG conversion, all of which is equity funded. The MKII FLNG is expected to be delivered in Q4 2027.

    With a definitive agreement that contemplates a 2H 2025 FID now secured, Golar will consider alternatives for asset level MKII FLNG financing.

    Southern Energy charter agreements: On May 2, 2025, Golar announced a FID for the 20-year charter of FLNG Hilli. The vessel will be chartered to SESA offshore Argentina. Golar and SESA also signed definitive agreements for a 20-year charter of the MKII FLNG. The MKII FLNG charter remains subject to FID and the same regulatory approvals as those granted to the FLNG Hilli project, expected within 2025.

    Key commercial terms for the respective 20-year charter agreements include:

    • FLNG Hilli (nameplate capacity of 2.45mtpa): Expected contract start-up in 2027, expected  Adjusted EBITDA1 to Golar of $285 million per year, plus a commodity linked tariff component of 25% of Free on Board (“FOB”) prices in excess of $8/MMBtu; and,
    • MKII FLNG (nameplate capacity of 3.5mtpa): Expected contract start-up in 2028, expected  Adjusted EBITDA1 to Golar of $400 million per year, plus a commodity linked tariff component of 25% of FOB prices in excess of $8/MMBtu.

    The two FLNG agreements are expected to add $13.7 billion in Adjusted EBITDA backlog1 to Golar over 20 years, before inflationary adjustments (30% of U.S. CPI from year 6) to the charter hire, and before the commodity linked tariff upside. Where achieved FOB prices exceed the $8/MMBtu reference price, Golar will receive 25% of the excess amount (this reference price is subject to the same 30% US CPI adjustment from year 6). The commodity linked element in the FLNG charter provides an upside of $70 million per year to Golar for every $ 1/MMBtu the achieved FOB price is higher than the USD 8/MMBtu reference price. The upside calculation is based on monthly achieved FOB prices.

    While the commodity linked tariff component is upside oriented, the Company has also agreed to a mechanism where the charter hire can be partially reduced for FOB prices below $7.5/MMBtu, down to a floor of $6/MMBtu. Under this mechanism, the maximum accumulated discount over the life of both contracts has a cap of $210 million, and any outstanding discounted charter hire amounts will be recovered through additional upside sharing if FOB prices return to levels above $7.5/MMBtu. Golar is not exposed to further downside in the commodity linked FLNG charter mechanism. The upside calculation is based on monthly achieved FOB prices, whilst the downside adjustment is based on annual average achieved FOB prices. The downside mechanism is based on annual average achieved FOB prices.

    SESA, a company formed to export Argentinian LNG, is owned by a consortium of leading Argentinian gas producers including Pan American Energy (30%), YPF (25%), Pampa Energia (20%), Harbour Energy (15%) and Golar (10%). The four gas producers have committed to supply their pro-rata share of natural gas to the FLNGs under Gas Sales Agreements at a fixed price per MMBtu. Golar’s 10% shareholding in SESA provides additional commodity exposure. The 10% equity stake equates to approximately $28 million in annual additional commodity exposure to Golar for every $1/MMBtu change in achieved FOB prices versus SESA’s cash break even.

    With the combination of the fixed charter hire with 30% of U.S. CPI inflation from year 6, operating expenses pass through, 25% commodity exposure in the FLNG tariff for FOB prices above $8/MMBtu and Golar’s 10% shareholding in SESA, Golar believes it has secured a highly attractive risk-reward in the SESA charters. For every $1 FOB price above $8/MMBtu, Golar’s total commodity upside is approximately $100 million, versus approximately $28 million in downside for every $1/MMBtu that realized FOB prices are below SESA’s cash break even.

    Located offshore in close proximity of each other in Rio Negro’s Gulf of San Matias, the FLNG’s will monetize gas from the Vaca Muerta formation, the world’s second largest shale gas resource, located onshore in Argentina’s Neuquen province. FLNG Hilli will initially utilize spare volumes from the existing pipeline network. SESA intends to facilitate the construction of a dedicated pipeline from Vaca Muerta to the Gulf of San Matias to supply gas to the FLNGs and the project expects to benefit from significant operational efficiencies and synergies from two FLNGs in the same area.

    The charters are also subject to strong legal and regulatory protections including:

    • both charter agreements are subject to English Law with dispute resolution pursuant to ICC arbitration in Paris, France;
    • hire and other payments under both contracts are fully paid in U.S. dollars;
    • SESA has obtained Argentina’s first ever 30-year non-interruptible LNG export license for FLNG Hilli, providing security of exports, necessary for the significant upstream and midstream investments, as well as securing offtake contracts; and
    • MKII FLNG is expected to obtain a similar term export license within 2025.

    FLNG Hilli has been approved for adherence to the Large Investments Incentive Scheme (“RIGI”), as a Long-Term Strategic Export project. The RIGI was implemented by the current administration of President Milei to incentivize large investments in Argentina. Under the RIGI, there are incentives and protections granted to the project company (SESA), with Golar benefiting as an international asset provider and investor, mostly notably:

    • guaranteed legal certainty and regulatory stability for the duration of the project, covering taxes, customs, duties, and foreign exchange controls;
    • any new national, provincial, or municipal taxes or restrictions would not apply to RIGI projects beyond those existing when the project was approved; and
    • freedom to repatriate profits, dividends, and capital including exemption from potential Central Bank restrictions on access to foreign exchange for repatriation purposes.

    If Argentina breaches the RIGI framework (e.g. by purporting to change the regime unilaterally), the beneficiary of the RIGI status can:

    • bring legal action against the National or Provincial Government (as applicable) under ICC arbitration, or elect to challenge the revocation through administrative channels; and
    • challenge the constitutionality of enacted law which breaches the RIGI protections.

    Business development: Detailed discussions for FLNG opportunities continue. With limited yard capacity for FLNG delivery before the 2030s, and with the current Golar fleet committed, we see firming demand for the remaining available 2020s deliveries. Progress is being made on FLNG projects ranging from MKI, MKII and MKIII FLNG developments. We target FLNG opportunities with competitive wellhead gas to secure attractive base tariff and commodity upside participation. We are also in commercial negotiations with potential charterers seeking equity participation in the FLNG to align project stakeholders.

    On the back of the recent commitments for the existing fleet and with ongoing detailed commercial discussions, we are working with shipyards and topside equipment providers to firm-up prices and schedules for potential ordering of additional unit(s) within 2025. Any growth initiatives are planned to be funded with recycled liquidity from debt optimization of the existing FLNG fleet on the back of their long term charters.

    Corporate/Other: Operating revenues and costs under corporate and other items are comprised of two FSRU operate and maintain agreements in respect of the LNG Croatia and Italis LNG together with the  Golar Arctic up to her point of sale in March 2025, for $24 million, and the Fuji LNG, up to the point she entered CIMC’s yard in February 2025 for FLNG conversion.

    In February 2025, Golar also closed the sale of its non-core 23.4% interest in Avenir LNG Limited, for $39 million.

    Shares and dividends: As of March 31, 2025, 104.7 million shares are issued and outstanding. Golar’s Board of Directors approved a total Q1 2025 dividend of $0.25 per share to be paid on or around June 10, 2025. The record date will be June 3, 2025.

    Financial Summary

    (in thousands of $) Q1 2025 Q1 2024 % Change Q4 2024 % Change
    Net income 12,939 66,495 (81)% 15,037 (14)%
    Net income attributable to Golar LNG Ltd 8,197 55,220 (85)% 4,494 82%
    Total operating revenues 62,502 64,959 (4)% 65,917 (5)%
    Adjusted EBITDA 1 40,936 63,587 (36)% 59,168 (31)%
    Golar’s share of Contractual Debt 1 1,494,615 1,209,407 24% 1,515,357 (1)%

    Financial Review 

    Business Performance:

      2025 2024
    (in thousands of $) Jan-Mar Oct-Dec Jan-Mar
    Net income        12,939        15,037        66,495
    Income taxes              179            (504)              138
    Net income before income taxes        13,118        14,533        66,633
    Depreciation and amortization        12,638        13,642        12,476
    Impairment of long-term assets                —        22,933                —
    Unrealized loss/(gain) on oil and gas derivative instruments        25,001        14,269        (2,148)
    Other non-operating loss                —          7,000                —
    Interest income        (8,699)        (9,866)      (10,026)
    Loss/(gain) on derivative instruments, net          6,795        (8,711)        (6,202)
    Other financial items, net          2,292          1,153          2,640
    Net (income)/loss from equity method investments      (10,209)          4,215              214
    Adjusted EBITDA 1        40,936        59,168        63,587
      2025 2024
      Jan-Mar Oct-Dec
    (in thousands of $) FLNG Corporate and other Total FLNG Corporate and other Total
    Total operating revenues        55,688          6,814        62,502        56,396          9,521        65,917
    Vessel operating expenses      (18,785)        (9,685)      (28,470)      (19,788)        (8,121)      (27,909)
    Voyage, charterhire & commission expenses                —                —                —                —           (446)           (446)
    Administrative expenses           (588)        (8,999)        (9,587)           (264)        (7,241)        (7,505)
    Project development expenses        (2,351)           (968)        (3,319)        (3,624)        (1,236)        (4,860)
    Realized gain on oil and gas derivative instruments (2)        21,213                —        21,213        33,502                —        33,502
    Other operating income                —        (1,403)        (1,403)             469                —             469
    Adjusted EBITDA 1        55,177      (14,241)        40,936        66,691        (7,523)        59,168

    (2) The line item “Realized and unrealized (loss)/gain on oil and gas derivative instruments” in the Unaudited Consolidated Statements of Operations relates to income from the Hilli Liquefaction Tolling Agreement (“LTA”) and the natural gas derivative which is split into: “Realized gain on oil and gas derivative instruments” and “Unrealized (loss)/gain on oil and gas derivative instruments”.

      2024
      Jan-Mar
    (in thousands of $) FLNG Corporate and other Total
    Total operating revenues               56,368                  8,591               64,959
    Vessel operating expenses              (18,784)                (7,078)              (25,862)
    Voyage, charterhire & commission expenses                       —                (1,770)                (1,770)
    Administrative expenses                   (471)                (6,604)                (7,075)
    Project development expenses/(income)                (1,085)                     273                   (812)
    Realized gain on oil and gas derivative instruments               34,147                       —               34,147
    Adjusted EBITDA 1               70,175                (6,588)               63,587

    Golar reports today Q1 2025 net income of $13 million, before non-controlling interests, inclusive of $32 million of non-cash items1, comprised of:

    • TTF and Brent oil unrealized mark-to-market (“MTM”) losses of $25 million; and
    • A $7 million MTM loss on interest rate swaps.

    The Brent oil linked component of FLNG Hilli’s fees generates additional annual cash of approximately $3.1 million for every dollar increase in Brent Crude prices between $60 per barrel and the contractual ceiling. Billing of this component is based on a three-month look-back at average Brent Crude prices. During Q1 2025, we recognized a total of $21 million of realized gains on FLNG Hilli’s oil and gas derivative instruments, comprised of a: 

    • $12 million realized gain on the Brent oil linked derivative instrument; and
    • $9 million realized gain in respect of fees for the TTF linked production.

    We also recognized $25 million of non-cash losses in relation to FLNG Hilli’s oil and gas derivative assets, with corresponding changes in the fair value in its constituent parts recognized on our unaudited consolidated statement of operations as follows:

    • $13 million loss on the Brent oil linked derivative asset; and
    • $12 million loss on the TTF linked natural gas derivative asset. 

    Balance Sheet and Liquidity:

    As of March 31, 2025, Total Golar Cash1 was $678 million, comprised of $522 million of cash and cash equivalents and $156 million of restricted cash. 

    Golar’s share of Contractual Debt1 as of  March 31, 2025 is $1,495 million. Deducting Total Golar Cash1 of $678 million from Golar’s share of Contractual Debt1 leaves a net debt position of $817 million. 

    Assets under development amounts to $2.5 billion, comprised of $1.8 billion in respect of FLNG Gimi and $0.7 billion in respect of the MKII FLNG. The carrying value of LNG carrier Fuji LNG, previously included under Vessels and equipment, net in Q4 2024 was transferred to Assets under development in Q1 2025.

    Non-GAAP measures

    In addition to disclosing financial results in accordance with U.S. generally accepted accounting principles (US GAAP), this earnings release and the associated investor presentation contains references to the non-GAAP financial measures which are included in the table below. We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business and measuring our performance.

    This report also contains certain forward-looking non-GAAP measures for which we are unable to provide a reconciliation to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside of our control, such as oil and gas prices and exchange rates, as such items may be significant. Non-GAAP measures in respect of future events which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied to Golar’s unaudited consolidated financial statements.

    These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures and financial results calculated in accordance with GAAP. Non-GAAP measures are not uniformly defined by all companies and may not be comparable with similarly titled measures and disclosures used by other companies. The reconciliations as at March 31, 2025 and for the three months ended March 31, 2025, from these results should be carefully evaluated.

    Non-GAAP measure Closest equivalent US GAAP measure Adjustments to reconcile to primary financial statements prepared under US GAAP Rationale for adjustments
    Performance measures
    Adjusted EBITDA Net income/(loss)  +/- Income taxes
    + Depreciation and amortization
    + Impairment of long-lived assets
    +/- Unrealized (gain)/loss on oil and gas derivative instruments
    +/- Other non-operating (income)/losses
    +/- Net financial (income)/expense
    +/- Net (income)/losses from equity method investments
    +/- Net loss/(income) from discontinued operations
    Increases the comparability of total business performance from period to period and against the performance of other companies by excluding the results of our equity investments, removing the impact of unrealized movements on embedded derivatives, depreciation, impairment charge, financing costs, tax items and discontinued operations.
    Distributable Adjusted EBITDA Net income/(loss)  +/- Income taxes
    + Depreciation and amortization
    + Impairment of long-lived assets
    +/- Unrealized (gain)/loss on oil and gas derivative instruments
    +/- Other non-operating (income)/losses
    +/- Net financial (income)/expense
    +/- Net (income)/losses from equity method investments
    +/- Net loss/(income) from discontinued operations
    – Amortization of deferred commissioning period revenue
    – Amortization of Day 1 gains
    – Accrued overproduction revenue
    + Overproduction revenue received
    – Accrued underutilization adjustment
    Increases the comparability of our operational FLNG Hilli from period to period and against the performance of other companies by removing the non-distributable income of FLNG Hilli, project development costs, the operating costs of the Gandria (prior to her disposal) and FLNG Gimi.
    Liquidity measures
    Contractual debt 1 Total debt (current and non-current), net of deferred finance charges  +/-Variable Interest Entity (“VIE”) consolidation adjustments
    +/-Deferred finance charges
    During the year, we consolidate a lessor VIE for our Hilli sale and leaseback facility. This means that on consolidation, our contractual debt is eliminated and replaced with the lessor VIE debt.

    Contractual debt represents our debt obligations under our various financing arrangements before consolidating the lessor VIE.

    The measure enables investors and users of our financial statements to assess our liquidity, identify the split of our debt (current and non-current) based on our underlying contractual obligations and aid comparability with our competitors.

    Adjusted net debt Adjusted net debt based on
    GAAP measures:
    -Total debt (current and
    non-current), net of
    deferred finance
    charges
    – Cash and cash
    equivalents
    – Restricted cash and
    short-term deposits
    (current and non-current)
    – Other current assets (Receivable from TTF linked commodity swap derivatives)
    Total debt (current and non-current), net of:
    +Deferred finance charges
    +Cash and cash equivalents
    +Restricted cash and short-term deposits (current and non-current)
    +/-VIE consolidation adjustments
    +Receivable from TTF linked commodity swap derivatives
    The measure enables investors and users of our financial statements to assess our liquidity based on our underlying contractual obligations and aids comparability with our competitors.
    Total Golar Cash Golar cash based on GAAP measures:

    + Cash and cash equivalents

    + Restricted cash and short-term deposits (current and non-current)

    -VIE restricted cash and short-term deposits We consolidate a lessor VIE for our sale and leaseback facility. This means that on consolidation, we include restricted cash held by the lessor VIE.

    Total Golar Cash represents our cash and cash equivalents and restricted cash and short-term deposits (current and non-current) before consolidating the lessor VIE.

    Management believe that this measure enables investors and users of our financial statements to assess our liquidity and aids comparability with our competitors.

    (1) Please refer to reconciliation below for Golar’s share of contractual debt

    Adjusted EBITDA backlog (also referred to as “earnings backlog”): This is a non-GAAP financial measure and represents the share of contracted fee income for executed contracts or definitive agreements less forecasted operating expenses for these contracts/agreements. Adjusted EBITDA backlog should not be considered as an alternative to net income / (loss) or any other measure of our financial performance calculated in accordance with U.S. GAAP.

    Non-cash items: Non-cash items comprised of impairment of long-lived assets, release of prior year contract underutilization liability, MTM movements on our TTF and Brent oil linked derivatives, listed equity securities and interest rate swaps (“IRS”) which relate to the unrealized component of the gains/(losses) on oil and gas derivative instruments, unrealized MTM (losses)/gains on investment in listed equity securities and gains on derivative instruments, net, in our unaudited consolidated statement of operations.

    Abbreviations used:

    FLNG: Floating Liquefaction Natural Gas vessel
    FSRU: Floating Storage and Regasification Unit
    MKII FLNG: Mark II FLNG
    FPSO: Floating Production, Storage and Offloading unit

    MMBtu: Million British Thermal Units
    mtpa: Million Tons Per Annum

    Reconciliations – Liquidity Measures

    Total Golar Cash

    (in thousands of $) March 31, 2025 December 31, 2024 March 31, 2024
    Cash and cash equivalents             521,434           566,384           547,868
    Restricted cash and short-term deposits (current and non-current)           172,879           150,198             92,159
    Less: VIE restricted cash and short-term deposits            (16,745)            (17,472)            (17,933)
    Total Golar Cash           677,568           699,110           622,094

    Contractual Debt and Adjusted Net Debt

    (in thousands of $) March 31, 2025 December 31, 2024 March 31, 2024
    Total debt (current and non-current) net of deferred finance charges        1,418,816        1,452,255        1,195,063
    VIE consolidation adjustments           251,728           241,666           213,042
    Deferred finance charges             20,946             22,686             22,337
    Total Contractual Debt        1,691,490        1,716,607        1,430,442
    Less: Keppel’s and B&V’s share of the FLNG Hilli contractual debt                     —                     —            (32,035)
    Less: Keppel’s share of the Gimi debt         (196,875)         (201,250)         (189,000)
    Golar’s share of Contractual Debt        1,494,615        1,515,357        1,209,407

    Please see Appendix A for a capital repayment profile for Golar’s Contractual Debt.

    Forward Looking Statements

    This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflects management’s current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as “if,” “subject to,” “believe,” “assuming,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “will,” “may,” “should,” “expect,” “could,” “would,” “predict,” “propose,” “continue,” or the negative of these terms and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, Golar undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise. Other important factors that could cause actual results to differ materially from those in the forward-looking statements include but are not limited to:

    • our ability and that of our counterparty to meet our respective obligations under the 20-year lease and operate agreement (the “LOA”) with BP Mauritania Investments Limited, a subsidiary of BP p.l.c. (“bp”), entered into in connection with the Greater Tortue Ahmeyim Project (the “GTA Project”), including the commissioning and start-up of various project infrastructure. Delays to FLNG commissioning works and the start of operations for our FLNG Gimi (“FLNG Gimi”) could result in incremental costs to both parties to the LOA;
    • our ability to meet our obligations under our commercial agreements, including the liquefaction tolling agreement (the “LTA”) entered into in connection with the FLNG Hilli Episeyo (“FLNG Hilli”);
    • our ability to meet our obligations to SESA in connection with the recently signed agreement to deploy FLNG Hilli in Argentina, and SESA’s ability to meet its obligations to us;
    • our ability to meet our obligations to SESA in connection with the recently signed definitive agreement to deploy our FLNG in conversion, MKII FLNG in Argentina, including reaching a final investment decision, and SESA’s ability to meet its obligations to us;
    • our ability to obtain additional financing or refinance existing debt on acceptable terms or at all including the satisfaction of the conditions precedent to the consummation of the FLNG Gimi sale leaseback transaction;
    • global economic trends, competition, and geopolitical risks, including U.S. government actions, trade tensions or conflicts such as between the U.S. and China, related sanctions, a potential Russia-Ukraine peace settlement and its potential impact on liquefied natural gas (“LNG”) supply and demand;
    • a material decline or prolonged weakness in tolling rates for FLNGs;
    • failure of shipyards to comply with schedules, performance specifications or agreed prices;
    • failure of our contract counterparties to comply with their agreements with us or other key project stakeholders;
    • an increase in tax liabilities in the jurisdictions where we are currently operating, have previously operated, or expect to operate;
    • continuing volatility in the global financial markets, including commodity prices, foreign exchange rates and interest rates and global trade policy, particularly the recent imposition of tariffs by the U.S. government;
    • changes in general domestic and international political conditions, particularly where we operate, or where we seek to operate;
    • changes in our ability to retrofit vessels as FLNGs, including the availability of vessels to purchase and in the time it takes to build new vessels or convert existing vessels;
    • continuing uncertainty resulting from potential future claims from our counterparties of purported force majeure under contractual arrangements, including our future projects and other contracts to which we are a party;
    • our ability to close potential future transactions in relation to equity interests in our vessels or to monetize our remaining equity method investments on a timely basis or at all;
    • increases in operating costs as a result of inflation or trade policy, including salaries and wages, insurance, crew provisions, repairs and maintenance, spares and redeployment related modification costs;
    • claims made or losses incurred in connection with our continuing obligations with regard to New Fortress Energy Inc. (“NFE”), Energos Infrastructure Holdings Finance LLC (“Energos”), Cool Company Ltd (“CoolCo”), and Snam S.p.A. (“Snam”);
    • the ability of NFE, Energos, CoolCo, and Snam to meet their respective obligations to us, including indemnification obligations;
    • changes to rules and regulations applicable to FLNGs or other parts of the natural gas and LNG supply chain;
    • rules on climate-related disclosures promulgated by the European Union, including but not limited to disclosure of certain climate-related risks and financial impacts, as well as greenhouse gas emissions;
    • actions taken by regulatory authorities that may prohibit the access of FLNGs to various ports and locations; and
    • other factors listed from time to time in registration statements, reports or other materials that we have filed with or furnished to the Commission, including our annual report on Form 20-F for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission on March 27, 2025 (the “2024 Annual Report”).

    As a result, you are cautioned not to rely on any forward-looking statements. Actual results may differ materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless required by law.

    Responsibility Statement

    We confirm that, to the best of our knowledge, the unaudited consolidated financial statements for the three months ended March 31, 2025, which have been prepared in accordance with accounting principles generally accepted in the United States give a true and fair view of Golar’s unaudited consolidated assets, liabilities, financial position and results of operations. To the best of our knowledge, the report for the three months ended March 31, 2025, includes a fair review of important events that have occurred during the period and their impact on the unaudited consolidated financial statements, the principal risks and uncertainties and major related party transactions.

    May 27, 2025
    The Board of Directors
    Golar LNG Limited
    Hamilton, Bermuda
    Investor Questions: +44 207 063 7900
    Karl Fredrik Staubo – CEO
    Eduardo Maranhão – CFO

    Stuart Buchanan – Head of Investor Relations

    Tor Olav Trøim (Chairman of the Board)
    Benoît de la Fouchardiere (Director)
    Carl Steen (Director)
    Dan Rabun (Director)
    Lori Wheeler Naess (Director)
    Mi Hong Yoon (Director)
    Niels Stolt-Nielsen (Director)

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

    The MIL Network

  • MIL-OSI: Indonesia Energy Provides Update on its Strategic Vision and Dedication to the Future of Energy Development in Indonesia

    Source: GlobeNewswire (MIL-OSI)

    Follow IEC’s vision through its multi-weekly updates on LinkedIn and its website

    JAKARTA, INDONESIA AND DANVILLE, CA, May 27, 2025 (GLOBE NEWSWIRE) — Indonesia Energy Corporation (NYSE American: INDO) (“IEC”), an oil and gas exploration and production company focused on Indonesia, issued today a letter to shareholders from the company’s senior management outlining IEC’s strategic vision and dedication to playing a key role in energy development in Indonesia as well as the country’s future in general.

    You can follow IEC’s vision through its multi-weekly updates on LinkedIn or at our website at the following link: https://ir.indo-energy.com/linkedin-updates/

    “Dear Fellow Indonesia Energy Shareholders:

    We are pleased to share an important update in the evolution of Indonesia Energy Corporation’s corporate vision, one that reaffirms our commitment to the future of Indonesia and complements our company’s role in supporting energy, resources, and sustainable growth for this dynamic region.

    Since our inception, IEC has remained committed to delivering energy security through our oil and gas exploration and production activities. While these core operations will continue to be a fundamental part of our strategy, we recognize that the definition of energy must evolve to meet the demands of a changing world, particularly in Indonesia.

    The time has come for IEC to expand our vision beyond traditional hydrocarbons and embrace a broader, more sustainable portfolio. This strategic focus will position IEC to unlock new value, enhance resilience, and capitalize on emerging opportunities in sectors that are inherently interconnected with energy.

    INDONESIA ENERGY: The Energy Driving Indonesia’s Future

    Indonesia, the world’s fourth most populous nation, is undergoing a demographic, economic, and technological transformation. With over 280 million people, nearly 70% under the age of 45, and an economy that has grown around 5% annually, the nation is on a clear path to becoming a growing force on the world stage.

    The government of Indonesia’s “Golden Indonesia 2045” vision aspires to position Indonesia among the world’s top five economies. To achieve this, the country is focusing on three fundamental pillars: energy, technology, and food security—the very elements that define human civilization and economic success.

    For IEC to play an important role in this transformation, we must recognize that energy is more than just oil and gas—it is the foundation of all progress. Throughout history, economies have grown, industries have thrived, and societies have advanced by harnessing energy in its many forms. But at its core, all energy that drives life and industry can be traced back to a single source—the Sun. From oil and gas to wind, hydropower, and even the food we eat, nearly all forms of energy originate from the Sun’s immense power. Fossil fuels are simply solar energy stored in organic matter over millions of years, while bioenergy, agriculture, and even wind patterns exist because of the Sun’s influence. Hydropower is made possible by the water cycle, driven by solar radiation. In essence, the energy that sustains economies, fuels innovation, and supports communities is a continuous transformation of sunlight into different usable forms.

    There are few exceptions, including deep geothermal energy, nuclear power, and tidal forces, which arise from the Earth’s internal heat, atomic forces, and the gravitational pull of the Moon and Sun. Yet, for nearly everything else, it is the Sun that provides the energy that shapes our world.

    This perspective reinforces IEC’s evolving mission. We are not just an oil and gas company; we are part of the larger system that transforms energy into progress, innovation, and prosperity in Indonesia. Our role is to harness and direct this energy—where it is needed most—to power Indonesia’s future. By embracing a new definition of energy, IEC is positioning itself at the heart of Indonesia’s transformation into a global economic power. As the country continues to grow, innovate, and secure its future, IEC will be there—as the energy that enables this progress.

    This is just the beginning of an exciting new chapter for IEC. Our evolving corporate vision will seek to accomplish three main goals:

    • First, our particular focus on supporting the future of Indonesia, which positions us as the purest U.S. public company play on Indonesia.
    • Second, our continuing drive to efficiently, effectively and sustainably develop and capitalize on our current oil and gas assets in Indonesia, Kruh and Citarum, which efforts have the strong support of the Government of Indonesia.
    • Finally, our passion for the future of Indonesia is leading us to explore other ways we can invest in the country’s infrastructure, whether that be energy related or other initiatives that we have the ability support given our management’s deep ties to Indonesia. We believe the potential to diversify our energy or other revenue streams will not only help Indonesia but also create the potential to drive value for our shareholders. We plan on sharing more details as this year unfolds and as our strategies solidify.

    Meanwhile, even as we are contemplating our expansion, this week we will be providing important updates on our key oil and gas assets, including an approximate 60% increase in proved reserves in our Kruh Block and the exciting results from a just competed geochemical survey on our potential billion-barrel equivalent Citarum Block, where we have a path to potentially move directly to drilling operations.

    We remain excited about our business and the future of Indonesia, so stay tuned for more details. Thank you as always for your continued trust and support,

    Sincerely,

    Dr Wirawan Jusuf, Chairman & CEO
    Frank Ingriselli, President
    James Huang, Director and Chief Investment Officer”

    About Indonesia Energy Corporation Limited

    Indonesia Energy Corporation Limited (NYSE American: INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (195,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

    Cautionary Statement Regarding Forward-Looking Statements

    All statements in this press release, and related statements of Indonesia Energy Corporation Limited (“IEC”) and its management that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, the words “potential,” “could,” “estimates,” “believes,” “hopes,” “expects,” “intends,” “future”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. In this press release, forward-looking statements include, without imitation those related to IEC’s future strategic plans, including its plans for drilling at Kruh Block at Citarum Block, as well as any future evolution in IEC’s business vision and strategies. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of significant risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2024, filed on April 29, 2025, and other filings with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov and IEC’s website at https://ir.indo-energy.com/sec-filings/. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Company Contact:

    Frank C. Ingriselli
    President, Indonesia Energy Corporation Limited
    Frank.Ingriselli@Indo-Energy.com

    The MIL Network

  • MIL-OSI: RYVYL Receives Extension to Comply with Nasdaq Listing Rule 5550(b)

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, CA, May 27, 2025 (GLOBE NEWSWIRE) — RYVYL Inc. (NASDAQ: RVYL) (“RYVYL” or the “Company”), a leading innovator of payment transaction solutions leveraging electronic payment technology, announced today that it has received an extension from The Nasdaq Stock Market LLC to regain compliance with Nasdaq Listing Rule 5550(b), which requires minimum stockholders’ equity of $2.5 million, $35 million market value of listed securities, or $500,000 net income from operations, for continued listing on the Nasdaq Capital Market.

    On April 8, 2025, RYVYL received a notification from Nasdaq indicating that, based on the company’s reported stockholders’ equity of negative $1.5 million as of December 31, 2024, it was no longer in compliance with the minimum stockholders’ equity requirement. Following this, RYVYL submitted a compliance plan to Nasdaq outlining its strategy to address the deficiency. 

    Nasdaq has accepted this plan and granted the company an extension until October 6, 2025, to demonstrate compliance with the listing requirement.

    About RYVYL

    RYVYL Inc. (NASDAQ: RVYL) was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business, and peer-to-peer payment transactions. By leveraging electronic payment technology for diverse international markets, RYVYL is a leading innovator of payment transaction solutions reinventing the future of financial transactions. Since its founding as GreenBox POS in 2017 in San Diego, RYVYL has developed applications enabling an end-to-end suite of turnkey financial products with enhanced security and data privacy, world-class identity theft protection, and rapid speed to settlement. As a result, the platform can log immense volumes of immutable transactional records at the speed of the internet for first-tier partners, merchants, and consumers around the globe. www.ryvyl.com

    Cautionary Note Regarding Forward-Looking Statements

    This press release includes information that constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the Company’s current beliefs, assumptions and expectations regarding future events, which in turn are based on information currently available to the Company. Such forward-looking statements include statements that are characterized by future or conditional words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate” and “continue” or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information.

    By their nature, forward-looking statements address matters that are subject to risks and uncertainties. A variety of factors could cause actual events and results to differ materially from those expressed in or contemplated by the forward-looking statements. Risk factors affecting the Company are discussed in detail in the Company’s filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

    IR Contact:

    David Barnard, Alliance Advisors Investor Relations, 415-433-3777, ryvylinvestor@allianceadvisors.com

    The MIL Network

  • MIL-OSI: nexxbuild Announces Strategic Merger with Investcorp Europe Acquisition Corp I (IVCBF:US)

    Source: GlobeNewswire (MIL-OSI)

    WILMINGTON, Del., May 27, 2025 (GLOBE NEWSWIRE) — In a move aiming to change the construction materials distribution landscape, nexxbuild is thrilled to announce its strategic merger (the “Merger”) with Investcorp Europe Acquisition Corp I (IVCBF:US) (“IVCB”). This partnership signifies a step in nexxbuild’s mission to unify independent local distributors under a cohesive nationwide platform, enhancing their service capabilities and expanding their market reach.

    “Today marks the beginning of an exciting future for local distributors across the country,” stated Nav Rau, CFO of nexxbuild. “As we launch nexxbuild, we are dedicated to revolutionizing the construction materials distribution sector through a ‘people first, tech forward’ vision.” This vision reflects a commitment to integrating cutting-edge technology while keeping the focus on the personal relationships, which are the cornerstones of nexxbuild’s approach.

    Vikas Mittal, Director, Chief Executive, and Financial Officer of Investcorp European Acquisition Corp echoed this sentiment, emphasizing the unique advantages that come with the merger. “nexxbuild’s platform offers a compelling vision—one that respects the independence of local distributors while aiming to enhance their capabilities through shared resources, technology, and scale. The objective is for local distributors to maintain their unique identities while also benefiting from the support, strength, and reach of a nationwide network, allowing for each local distributor to thrive independently and at the same time to be a part of something much larger. If successful, the Merger could position nexxbuild to deliver greater operational efficiency and improved service across its markets, while creating long-term value for all stakeholders involved.”

    The merger with IVCB will empower nexxbuild to significantly expand its offerings and enhance its service capabilities, positioning the company for growth.

    Key Highlights:

    • Empowerment of Local Distributors: nexxbuild is committed to fostering growth while preserving the identities, cultures, and relationships of local distributors.
    • People-First, Technology-Forward: The company is dedicated to being both people-focused and technology-driven, providing access to innovative digital tools that enhance the growth and relevance of the nexxbuild family of brands.
    • Elevated Service and Product Offerings: nexxbuild aims to elevate service and product offerings for vendors and customers alike, ensuring an enhanced experience across the board.

    Advisors

    Advisors to the transaction include Maxim Group LLC, which is serving as exclusive financial advisor to nexxbuild. Duane Morris is serving as counsel to nexxbuild. Edelman Legal Advisory PLLC is serving as counsel to Investcorp Europe Acquisition Corp I.

    About nexxbuild:

    Nexx HoldCo, LLC (“nexxbuild”) brings together the strengths of independent local distributors, forming a unified nationwide platform servicing the construction industry. Where personalized service and local expertise are vital, nexxbuild focuses on empowering these businesses, allowing them to thrive on their own terms while being supported by the comprehensive resources of a national network.

    About Investcorp Europe Acquisition Corp I (IVCBF:US):

    Investcorp Europe Acquisition Corp I (IVCBF:US) is a special purpose acquisition company that seeks to leverage its expertise to create value and drive growth in the construction materials sector.

    Participants in Solicitation 

    IVCB, nexxbuild, and their respective directors, executive officers, other members of management and employees may be deemed participants in the solicitation of proxies from IVCB’s shareholders with respect to the Merger. Investors and securityholders may obtain more detailed information regarding the names and interests in the Merger of the directors and officers of each of IVCB and nexxbuild with respect to the Merger in the proxy statement/prospectus for the Merger when available and in such companies’ respective filings with the Securities and Exchange Commission (the “SEC”), the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus, amendments and supplements, and other documents filed with the SEC. Such information with respect to nexxbuild’s managers and executive officers will also be included in the proxy statement/prospectus. You may obtain free copies of these documents as described below under the heading “Additional Information and Where to Find It.”

    No Offer or Solicitation 

    This press release is not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the Merger. The press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities of IVCB or nexxbuild in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

    Forward-Looking Statements 

    This press release includes forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between nexxbuild and IVCB. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “think,” “strategy,” “future,” “opportunity,” “potential,” “plan,” “seeks,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties.

    These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including but not limited to: (i) the risk that the transactions may not be completed in a timely manner or at all; (ii) the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement; (iii) the failure to achieve the minimum amount of cash available following any redemptions by IVCB’s stockholders; (iv) redemptions exceeding anticipated levels or the failure to meet initial listing standards in connection with the consummation of the transactions; (v) the effect of the announcement or pendency of the transactions on nexxbuild business relationships, operating results, and business generally; (vi) changes in the markets in which nexxbuild competes, including with respect to its competitive landscape, technology evolution, or regulatory changes; (vii) changes in domestic and global general economic conditions; (viii) costs related to the transactions and the failure to realize anticipated benefits of the transaction or to realize estimated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions; (ix) the ability to recognize the anticipated benefits of the transactions and to achieve its commercialization and development plans, and identify and realize additional opportunities, which may be affected by, among other things, competition, the ability of nexxbuild to grow and manage growth economically and hire and retain key employees and to develop and acquire other construction supply platforms; (x) the risk that nexxbuild may fail to keep pace with rapid technological developments to provide new and innovative products and services; and (xi) those factors discussed in IVCB’s filings with the SEC and that that will be contained in the proxy statement/prospectus relating to the transactions.

    The foregoing list of factors is not exhaustive. And forward-looking statements speak only as of the date of this press release. Accordingly, these forward-looking statements should not be relied upon as representing IVCB or nexxbuild assessments as of any date after the date of this press release. Further, readers are cautioned not to put undue reliance on forward-looking statements. While IVCB and nexxbuild may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law. Neither of IVCB nor nexxbuild gives any assurance that IVCB or nexxbuild, or the combined company, will achieve its expectations. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of IVCB and/or nexxbuild. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the “Risk Factors” section of the proxy statement/prospectus and the amendments, the definitive proxy statement/prospectus to be filed in connection with the transactions, and other documents to be filed by IVCB from time to time with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on April 11, 2024 and any subsequent filings. All forward-looking statements are expressly qualified in their entirety by such factors. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Copies will be available on the SEC’s website, www.sec.gov.

    All forward-looking statements are expressly qualified in their entirety by such factors. IVCB does not undertake any duty to update any forward-looking statement except as required by law. 

    Additional Information and Where to Find It 

    In connection with the Merger, IVCB intends to file with the SEC a registration statement on Form S-4 (the “Registration Statement”), which will be both the proxy statement to be distributed to the shareholders of IVCB in connection with IVCB’s solicitation of proxies for the vote by its shareholders with respect to the proposed transaction and other matters as may be described in the definitive proxy statement/prospectus, as well as a prospectus relating to the offer and sale of the securities to be issued in the proposed transaction. Shareholders are encouraged to read the Registration Statement, when available, as it will contain important information.

    This press release does not contain any information that should be considered by IVCB’s shareholders or nexxbuild’s members concerning the proposed transaction and is not intended to constitute the basis of any voting or investment decision in respect of the proposed transaction or the securities of the combined company. The respective shareholders of IVCB and nexxbuild and other interested persons are advised to read, when available, Registration Statement and documents incorporated by reference therein filed in connection with the Merger, as these materials will contain important information about IVCB, nexxbuild, and the Merger. 

    When available, the definitive proxy statement/prospectus and other relevant materials for the Merger will be mailed to shareholders of IVCB as of a record date to be established for voting on the Merger. Shareholders of IVCB will also be able to obtain copies of the Registration Statement, the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus and other documents filed with the SEC, without charge, once available, at the SEC’s web site at www.sec.gov or by directing a request to IVCB at Century Yard, Cricket Square, Elgin Avenue, P.O. Box 1111, George Town, Grand Cayman KY1-1102, Cayman Islands.

    Contact

    IVCB

    Century Yard, Cricket Square, Elgin Avenue, P.O. Box 1111,
    George Town, Grand Cayman KY1-1102, Cayman Islands
    Attn: Vikas Mittal
    212-207-0090

    The MIL Network

  • MIL-OSI: Xtract One Teams Up with MLB’s Colorado Rockies to Deploy SmartGateway at Coors Field, Bringing Frictionless Screening to Fans this Season

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 27, 2025 (GLOBE NEWSWIRE) — Xtract One Technologies (TSX: XTRA)(OTCQX: XTRAF)(FRA: 0PL) (“Xtract One” or the “Company”) today announced it has signed an agreement with the Colorado Rockies (“Rockies”) of Major League Baseball (MLB) to use SmartGateway at their home ballpark, Coors Field. This joint development project seeks to introduce frictionless, streamlined screening and entry to fans and patrons this baseball season.

    “We are thrilled to work with the Colorado Rockies on this deployment to showcase how SmartGateway can help create a safe and secure environment for every fan, player, and ballpark personnel who enters the venue,” said Peter Evans, CEO of Xtract One. “This collaboration reflects our continued commitment to advancing stadium security across major organizations like MLB. We look forward to contributing to a positive, worry-free experience for everyone entering Coors Field all season long.”

    With a capacity of 50,398 at Coors Field, the Colorado Rockies were seeking an advanced screening system to replace traditional walk-through metal detectors. SmartGateway reduces the time spent in long security lines, allowing individuals to walk through security checks up to seven times faster than the average walk-through metal detector allows. Aligning with the Rockies’ mission to conduct business with integrity, service, quality, and trust, the deployment of SmartGateway’s innovative system will enhance guests’ safety and overall game-day experience. This strategic deployment will introduce SmartGateway to Coors Field’s visitors, showcasing innovative technology that unobtrusively scans patrons with AI-powered sensors, minimizes entry line wait times, and contributes to optimized venue operations.

    “As the world keeps innovating, we want to make sure we’re bringing fans the best possible experience,” said Kevin Kahn, Chief Customer Officer & Vice-President, Ballpark Operations of the Colorado Rockies. We look forward to showcasing SmartGateway to fans entering Coors Field, delivering frictionless screening and entry processes, and contributing to an overall better game-day experience.”

    Xtract One’s SmartGateway unobtrusively scans patrons to detect prohibited items, enhancing safety without sacrificing experience. The system uses AI-powered sensors to quickly and accurately scan patrons, seamlessly detecting threats without invading guests’ privacy. SmartGateway reduces wait times and enables faster entry, while providing data-driven security insights that shift security operations from reactive to proactive. Each lane is equipped with the capacity to screen up to 2,400 patrons per hour. The Company’s Multi-Sensor Gateway portfolio has been awarded the U.S. Department of Homeland Security DHS SAFETY Act Designation as a Qualified Anti-Terrorism Technology (QATT), highlighting the efficacy of Xtract One’s innovative security solutions in safeguarding public spaces against modern threats.

    To learn more, visit www.xtractone.com.

    About Xtract One
    Xtract One Technologies is a leading technology-driven provider of threat detection and security solutions leveraging AI to deliver seamless and secure experiences. The Company makes unobtrusive weapons and threat detection systems that are designed to assist facility operators in prioritizing- and delivering improved “Walk-right-In” experiences while enhancing safety. Xtract One’s innovative portfolio of AI-powered Gateway solutions excels at allowing facilities to discreetly screen and identify weapons and other threats at points of entry and exit without disrupting the flow of traffic. With solutions built to serve the unique market needs for schools, hospitals, arenas, stadiums, manufacturing, distribution, and other customers, Xtract One is recognized as a market leader delivering the highest security in combination with the best individual experience. For more information, visit www.xtractone.com or connect on Facebook, X, and LinkedIn.

    About Threat Detection Systems
    Xtract One solutions, when properly configured, deployed, and utilized, are designed to help enhance safety and reduce threats. Given the wide range of potential threats in today’s world, no threat detection system is 100% effective. Xtract One solutions should be utilized as one element in a multilayered approach to physical security.

    Forward-Looking Statements
    This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements”. Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. Such risks and uncertainties include, but are not limited to, the risks detailed from time to time in the continuous disclosure filings made by the Company with securities regulations. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.

    For further information, please contact:
    Xtract One Inquiries: info@xtractone.com, http://www.xtractone.com
    Investor Relations: Chris Witty, Darrow Associates, cwitty@darrowir.com, 646-438-9385
    Media Contact: Kristen Aikey, JMG Public Relations, kristen@jmgpr.com, 212-206-1645

    The MIL Network

  • MIL-OSI: MEXC Announces the Listing of Sophon (SOPH) with $40,000 in SOPH and 50,000 USDT Prize Pool

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, May 27, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, will list Sophon (SOPH) on May 28, 2025(UTC).To celebrate the listing, MEXC is launching a special event for new and existing users, featuring a total prize pool of $40,000 in SOPH and 50,000 USDT.

    Sophon Network (SOPH) bridges the gap in blockchain mainstream adoption by delivering user-friendly blockchain applications that seamlessly integrate into everyday digital life. As the ecosystem matures, the project leverages Validium technology within the ZKsync Elastic Chain to offer high performance and a smooth user experience, two essentials for widespread adoption.

    SOPH is the native utility token of the Sophon Network ecosystem, used for gas fee payments and rewarding node operators. With a fixed total supply of 10 billion tokens, SOPH forms the core economic model of the platform, enabling users to engage with a variety of consumer-focused blockchain applications.

    The Sophon (SOPH) Airdrop+ event runs from May 27, 2025, 11:00 (UTC) to June 6, 2025, 11:00 (UTC) and includes the following benefits:

    • Benefit 1: New users who deposit SOPH will share $30,000 in SOPH.
    • Benefit 2: All users can participate in the Futures Challenge to share 50,000 USDT in Futures bonuses.
    • Benefit 3: All users can invite new users to share $10,000 in SOPH.

    MEXC has established itself as an industry leader by consistently providing users with early access to promising crypto projects. According to the latest TokenInsight report, MEXC led the industry with an impressive 461 spot listings. During each bi-weekly period, MEXC maintained a high listing frequency, consistently ranking among the top six exchanges and demonstrating its ability to capture market trends quickly. To date, MEXC has listed more than 3,000 digital assets. MEXC will maintain its industry-leading listing efficiency, innovate, and expand its offerings, ensuring users can access the best opportunities in the ever-evolving crypto landscape.

    For full event details and participation rules, please visit here.

    About MEXC
    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 40 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
    MEXC Official WebsiteXTelegramHow to Sign Up on MEXC

    Risk Disclaimer:
    The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions.

    Source

    Contact:
    Lucia Hu
    lucia.hu@mexc.com

    Disclaimer: This is a paid post and is provided by MEXC. 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/aff4c8ac-321b-4bbf-bbb6-c7fcc0b36854

    The MIL Network

  • Fintech driving growth for MSMEs and merchants, says FM Sitharaman

    Source: Government of India

    Source: Government of India (4)

    Union Finance Minister Nirmala Sitharaman on Tuesday said that India’s fintech companies are playing a crucial role in expanding the country’s Digital Public Infrastructure (DPI) and empowering merchants as well as micro, small, and medium enterprises (MSMEs).

    The Finance Minister visited the office of Pine Labs, a digital fintech company based in Noida, and interacted with its employees and staff members.

    She acknowledged “India’s fintech firms’ contribution to expanding the country’s Digital Public Infrastructure (DPI) and in enabling seamless, secure, and inclusive financial services for merchants and MSMEs,” the Finance Minister’s Office said in a post on X.

    B. Amrish Rau, CEO of Pine Labs, shared his excitement in a post on X, saying that it was “an exciting and unbelievable day… It was a full house and our FM was completely immersed in her interactions and tech discussions.”

    Pine Labs is a merchant commerce omnichannel platform operating across India, the Middle East, and Southeast Asia. The company focuses on simplifying digital payments and helping businesses scale their fintech solutions.

    Meanwhile, UPI QR codes have shown the fastest growth in India’s digital payments infrastructure in the financial year 2024–25, registering a 91.5 percent increase over the previous year, reaching 657.9 million.

    The number of banks going live on UPI continues to rise, reaching a total of 668 in April, which is expected to boost the value of transactions, according to data from the Reserve Bank of India (RBI).

    UPI has emerged as the dominant method for digital transactions in India. Nearly four out of every five digital payments in the country during FY24 were conducted via UPI, according to the RBI’s annual report.

    The RBI has also introduced greater flexibility in revising transaction limits for in-person UPI merchant payments. The National Payments Corporation of India (NPCI) can now adjust limits based on user needs, with appropriate safeguards—making UPI even more convenient for users.

    India’s digital payments ecosystem witnessed a significant surge in the second half of 2024, driven by the increased use of the Unified Payments Interface (UPI), mobile payments, and cards, according to Worldline India’s Digital Payments Report.

    IANS

  • Sensex soars 640 points, Nifty crosses 25,000 mark on positive sentiment

    Source: Government of India

    Source: Government of India (4)

    The Indian stock market opened on a strong note Monday, buoyed by positive investor sentiment following India’s ascent to the fourth spot in the global economy rankings.

    By 9:32 a.m., the BSE Sensex had rallied 640.3 points, or 0.78%, to trade at 82,361.46. Meanwhile, the NSE Nifty was up 187.39 points, or 0.75%, at 25,040.45.

    The broader market also saw an upward trend. The Nifty Bank index gained 408.25 points, or 0.74%, reaching 55,806.50. The Nifty Midcap 100 rose 426.60 points to 57,114.35, while the Nifty Smallcap 100 advanced 145.90 points to 17,789.25, registering a 0.83% gain.

    Analysts attributed the early rally to the news of India becoming the world’s fourth-largest economy, calling it a morale booster for markets in the short term. Additionally, the Reserve Bank of India’s record dividend payout to the central government—exceeding budget estimates—is expected to aid in containing the fiscal deficit at 4.4% for FY26.

    “This, in turn, can help sustain the current low inflation trend and a declining interest rate environment, both of which are supportive of equity markets. While foreign institutional investors (FIIs) were strong buyers earlier in May, the trend has turned erratic recently, suggesting profit booking at higher levels,” said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    In the Sensex basket, top gainers included M&M, PowerGrid, NTPC, Tata Motors, ICICI Bank, SBI, Tech Mahindra, L&T, Asian Paints, and Axis Bank. Eternal was the only notable loser in early trade.

    In Asia, markets traded mixed. Indices in Bangkok, Seoul, and Tokyo were in the green, while markets in China, Hong Kong, and Jakarta saw declines.

    Globally, the last trading session in the U.S. ended lower. The Dow Jones Industrial Average closed at 41,603.07, down 256.02 points or 0.61%. The S&P 500 dropped 39.19 points (0.67%) to 5,802.82, and the Nasdaq declined 188.53 points (1.00%) to settle at 18,737.21.

    On the institutional investment front, FIIs were net buyers, purchasing equities worth ₹1,794.59 crore on May 23. Domestic institutional investors (DIIs) also bought stocks worth ₹299.78 crore.

    Looking ahead, key economic data such as India’s GDP figures, the U.S. Federal Reserve’s meeting minutes, and U.S. inflation numbers are expected to influence market sentiment this week.

    “Geopolitical uncertainties, the ongoing corporate earnings season, institutional capital flows, and the upcoming derivatives expiry are currently driving volatility in Indian equity markets,” said Devarsh Vakil, Head of Prime Research at HDFC Securities.

     
    -IANS
  • MIL-OSI: Bitget Lists World Liberty Financial’s USD1 (USD1) Token for Spot Trading

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, May 26, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of USD1, adding it to spot trading. World Liberty Financial’s USD1 is a fiat-backed stablecoin pegged 1:1 with US Dollars. Trading for USD1/USDT and USD1/USDC trading pair will begin on 26 May 2025, 10:00 (UTC), with withdrawals available on 27 May 2025, 11:00 (UTC).

    The USD1, issued by the Trump family-affiliated World Liberty Financial, is designed to streamline digital transactions by enabling seamless conversion between fiat currency and digital assets. Its recent integration and growing popularity marks a major step toward broader adoption, allowing the stablecoin to operate across multiple blockchains. Through strategic partnerships, USD1 is accelerating its integration within the decentralized finance ecosystem.

    As Bitget continues to curate unique and influential assets within its innovation zone, the listing of USD1 signifies growing demand for stablecoin ecosystems.

    Bitget continues to expand its offerings, positioning itself as a leading platform for cryptocurrency trading. The exchange has established a reputation for innovative solutions that empower users to explore crypto within a secure CeDeFi ecosystem. With an extensive selection of over 800 cryptocurrency pairs and a commitment to broaden its offerings to more than 900 trading pairs, Bitget connects users to various ecosystems, including Bitcoin, Ethereum, Solana, Base, and TON.

    The addition of USD1 into Bitget’s portfolio marks a significant step toward expanding its ecosystem by embracing niche communities and fostering innovation in decentralized economies, further strengthening its role as a gateway to diverse Web3 projects.

    For more details on USD1, visit here.

    About Bitget

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

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

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

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

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a3dccde4-3a2a-4131-8c07-59dbf02e4c59

    The MIL Network

  • MIL-OSI Asia-Pac: Christopher Hui departs for Canada

    Source: Hong Kong Information Services

    Secretary for Financial Services & the Treasury Christopher Hui will depart for Canada today to visit Toronto, Ottawa, and Vancouver.

     

    During his visit, Mr Hui will attend the premier Web Summit Vancouver, a key event, where he will share the latest fintech developments and opportunities in Hong Kong with thousands of tech entrepreneurs, investors and leaders.

     

    He will also join several business networking events organised by the Hong Kong Economic & Trade Office (Toronto) and Invest Hong Kong (Canada) to introduce Hong Kong’s advantages in areas such as the financial market, wealth management and fintech, along with the policy support and concessions offered to boost relevant developments and applications.

     

    In addition to conferring with government financial officials of Canada, Mr Hui plans to meet representatives from trade associations and think tanks. He will also visit a number of banks and insurance companies.

     

    Mr Hui is scheduled to return to Hong Kong on May 31. During his absence, Under Secretary for Financial Services & the Treasury Joseph Chan will be Acting Secretary.

    MIL OSI Asia Pacific News

  • MIL-OSI: 31/2025・Trifork Group: Weekly report on share buyback

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 31 / 2025
    Schindellegi, Switzerland – 26 May 2025

    Trifork Group: Weekly report on share buyback

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

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

            Number of shares        Average purchase price (DKK)        Transaction value (DKK)
    Total beginning 88,874 86.74 7,709,372
    19 May 2025 1,300 92.53 120,289
    20 May 2025 1,200 91.89 110,268
    21 May 2025 1,200 91.57 109,884
    22 May 2025 1,200 91.53 109,836
    23 May 2025 1,200 90.93 109,116
    Accumulated 94,974 87.06 8,268,765

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

    Since the share buyback program was started on 4 March 2025, the total number of repurchased shares is 94,974 at a total amount of DKK 8,268,765.
    On 25 March, 25 April and 23 May 2025, 4,370 shares acquired through the share buyback program were utilized for the Executive Management’s monthly fixed salary, representing a change from cash payment to payment partly in shares (refer to company announcement no. 1 of 21 January 2025). On 1 April 2025, 19,943 shares acquired through the share buyback program were utilized to serve the RSU plan of Executive Management and certain employees.

    With the transactions stated above, Trifork holds a total of 326,016 treasury shares, corresponding to 1.7%. The total number of registered shares in Trifork is 19,744,899. Adjusted for treasury shares, the number of outstanding shares is 19,417,909.


    Investor and media contact

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

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

    Attachment

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  • MIL-OSI: Periodic announcement on the acquisition of the Bank‘s own shares and its results (week 3)

    Source: GlobeNewswire (MIL-OSI)

    This announcement contains information on transactions of the acquisition of own shares of AB Artea bankas (the Bank) carried during the period specified below under the Bank’s own share buy-back programme announced on 30 April 2025. 

     

    The period during which the acquisition of the Bank’s own shares under the programme was carried out – 05.05.2025 – 23.05.2025. 

     

    Period covered by this periodic report – 19.05.2025 – 23.05.2025. 

     

    Other information: 

    Transaction overview 

    Date 

    Total number of shares purchased on the day ( units) 

    Weighted average price (EUR) 

    Total value of transactions (EUR) 

    2025.05.19

    100,000

    0.88

    88,000.00

    2025.05.20

    100,000

    0.877

    87,700.00

    2025.05.21

    100,000

    0.877

    87,650.03

    2025.05.22

    100,000

    0.88

    88,000.00

    2025.05.23

    100,000

    0.879

    87,900.01

    Total acquired during the current week 

    500,000

    0.879

    439,250.04

    Total acquired during the programme period 

    1,500,000

    0.881

    1,322,088.16

     

     

     

     

     

    The Bank’s own bought-back shares: 11,597,749  units.  

     

    Following the above transactions, the Bank will own a total of 12,097,749 units of own shares representing 1.82 % of the Bank’s issued shares. 

     

    Further detailed information on the transactions is attached. 

     

    This information is also available at: www.artea.lt   

     

    Additional information:
    Tomas Varenbergas
    Head of Investment Management Division
    tomas.varenbergas@artea.lt, +370 610 44447

    Attachment

    The MIL Network

  • MIL-OSI United Kingdom: Faster cancer treatment thanks to new radiotherapy machines

    Source: United Kingdom – Executive Government & Departments

    Press release

    Faster cancer treatment thanks to new radiotherapy machines

    Thousands of cancer patients will see faster treatment thanks to new radiotherapy machines

    • Cutting-edge machines will cut waiting times and help 4,500 more patients get treatment faster

    • Upgraded tech being rolled out at 28 hospitals can cut the rounds of radiotherapy needed and reach cancers in harder to treat areas like chest, abdomen and pelvis

    • Rollout is backed by £70 million provided by government as part of its mission to improve cancer care through its Plan for Change

    Thousands of patients will benefit from faster and safer cancer treatment thanks to new cutting-edge radiotherapy machines being rolled out to every region in the country. 

    The government has paid for new linear accelerator (LINAC) machines at 28 hospitals, which use modern technology to reduce delays to treatment and, in some cases, could reduce the number of hospital visits a patient needs to make by half, helping to cut waiting lists faster.  

    Replacing these older machines will save as many as 13,000 appointments from being lost to equipment breakdown.

    The machines will be rolled out at hospitals across the country from August, funded by a £70 million government investment as part of its plans to improve cancer care through the Plan for Change. 

    By March 2027, up to 27,500 additional treatments per year will be delivered, including up to 4,500 receiving their first treatment for cancer within 62-days of referral, helping to treat more cancer patients in faster time.

    Equipped with cutting-edge technology, the machines are safer for patients and can more precisely target tumours, causing less damage to surrounding healthy tissues. They are particularly effective at targeting cancers in harder to treat areas, such as the chest, abdomen and pelvis.  

    Health and Social Care Secretary, Wes Streeting said: 

    There is a revolution taking place in medical technology which can transform treatment for cancer patients. But NHS hospitals are forced to use outdated, malfunctioning equipment thanks to 14 years of underinvestment under the previous government.

    Thanks to the investment this government is making in our NHS, we will provide more cancer patients with world-class, cutting-edge care.

    By reducing the number of hospital visits required and preventing cancelled appointments, these state of the art radiotherapy machines free up capacity so that thousands more patients are treated on time.

    As a cancer survivor, I know just how important timely treatment is. These machines are part of the investment and modernisation that will cut waiting times for patients, through our Plan for Change.

    The tech is being prioritised in hospitals which are currently using outdated treatment machines older than 10 years, meaning patients can be treated faster and reducing cancelled appointments due to faults. 

    It will also increase the availability of Stereotactic Ablative Radiotherapy (SABR) cancer treatments, which can more precisely target tumours.  

    NHS national clinical director for cancer Professor Peter Johnson said:  

    Radiotherapy is essential for many cancer patients, so it’s great news that the investment in new machines means that some will need fewer rounds of treatment, as we bring in more sophisticated techniques. 

    These machines will deliver more precise treatment for patients, which helps them to recover sooner, as well as enabling the NHS to treat people more efficiently as we continue in our efforts to catch and treat more cancers faster.

    The new LINAC radiotherapy machines were allocated across England by Specialised Commissioning teams at NHS England, which will help to improve health inequalities by ensuring every radiotherapy service has the modern equipment needed to offer innovative radiotherapy treatments.

    Alongside turbocharging treatment for patients, significant work is being carried out to get cancers diagnosed more quickly than ever before.  

    Improved performance against the Faster Diagnosis Standard has led to the equivalent of 4,000 extra patients given the all-clear or a definitive cancer diagnosis within 4 weeks in March 2025 compared to the same time the year before, to reach over 217,000 in total in March 2025.

    Patients are also getting easier access to vital tests, checks and scans, with Community Diagnostic Centres delivering almost 2.5 million on high streets and at other convenient locations in March. 

    Senior policy manager at Cancer Research UK, Matt Sample, said: 

    All cancer patients, no matter where they live, should have access to the best treatment, so it’s great to see investment in cutting-edge equipment for hospitals across the country. 

    Modern LINAC machines can offer more efficient, targeted treatment with less side-effects for patients, which is why it’s vital that there is sustained funding to replace them routinely.  

    The government has a huge opportunity in its upcoming National Cancer Plan for England to tackle unequal access to optimal treatment, and we look forward to working with them to help give every patient the care they deserve.

    Kate Seymour, Head of External Affairs at Macmillan Cancer Support says:

    Today marks an exciting step forward for cancer treatment in England. Many people across the country are facing long delays for care but today proves that better is possible.

    Investment in cutting edge technology is essential to bring down waiting times and help more people with cancer get the best care the UK has to offer, whoever and wherever they are.

    The investment in this new technology follows on from the government rolling out 13 new DEXA scanners across the country which will allow 29,000 extra bone scans per year will be delivered for patients as part of the Plan for Change.

    The government’s Plan for Change will continue to put patients first as it works to end the misery felt by millions up and down the country who have been denied the care they need for too long. 

    Over 3 million appointments have already been delivered since the end of June 2024, smashing the government’s target of delivering 2 million extra operations, scans and appointments. This is alongside over 8.3 million more appointments each year becoming available as 1,000 doctors surgeries receive a bricks and mortar upgrade to modernise practices and expand capacity.

    NOTES TO EDITORS 

    The 28 trusts receiving an upgraded scanner are: 

    – Mid and South Essex NHS Foundation Trust
    – Sheffield Teaching Hospitals NHS Foundation Trust
    – Northampton General Hospital NHS Trust
    – United Lincolnshire Hospitals NHS Trust
    – University Hospitals Plymouth NHS Trust
    – Royal Free London NHS Foundation Trust
    – Cambridge University Hospitals NHS Foundation Trust
    – Hampshire Hospitals NHS Foundation Trust
    – The Royal Marsden NHS Foundation Trust
    – Worcestershire Acute Hospitals NHS Trust
    – Lancashire Teaching Hospitals NHS Foundation Trust
    – The Newcastle Upon Tyne Hospitals NHS Foundation Trust
    – East Suffolk and North Essex NHS Foundation Trust
    – Royal Berkshire NHS Foundation Trust
    – Imperial College Healthcare NHS Trust
    – Maidstone and Tunbridge Wells NHS Trust
    – University Hospitals Bristol and Weston NHS Foundation Trust
    – South Tees Hospitals NHS Foundation Trust
    – The Christie NHS Foundation Trust
    – Gloucestershire Hospitals NHS Foundation Trust
    – Nottingham University Hospitals NHS Trust
    – Royal Cornwall Hospitals NHS Trust
    – The Clatterbridge Cancer Centre NHS Foundation Trust
    – University Hospitals of Derby and Burton NHS Foundation Trust
    – Guy’s and St Thomas’ NHS Foundation Trust
    – University College London Hospitals NHS Foundation Trust
    – Barts Health NHS Trust
    – Royal Surrey NHS Foundation Trust

    Updates to this page

    Published 26 May 2025

    MIL OSI United Kingdom

  • MIL-OSI: CIC Lyonnaise de Banque -Notice of Early Redemption-(ISIN Code: FR0000047789)

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT (SEE “DISCLAIMER” BELOW).

    Paris, May, 26th, 2025

    Notice of Early Redemption

    To : (i)      The Noteholders of the below mentioned Notes;
    (ii)      Euronext Paris
    (iii)      Fiscal Agent.

    Dear Sirs,

    CIC Lyonnaise de Banque
    “Titres Participatifs” Variable Rate Notes issued on 28 May 1985 (the ‘’Notes”)

    (ISIN Code: FR0000047789)

    CIC Lyonnaise de Banque is the issuer (the Issuer’’) of the Notes.

    In accordance with the terms and conditions of the Notes (the ‘’Conditions’’), the Issuer hereby gives notice that it is exercising in whole its right to redeem the Notes pursuant to the provision Redemption (‘’Remboursement’’) of the Listing Particulars (“Issuer Call Option”) of the Notes.

    We, the Issuer, instruct you as Fiscal Agent, to authorise the French Central Securities Depository to cancel the Notes redeemed on 30 June, 2025 (“Early Redemption Date”).

    For the purposes of the Issuer Call:

    (i) the Issuer Call Date will be 30 June, 2025; and
    (ii) the Optional Redemption Amount(s) or Early Redemption Amount excluding accrued interest is: EUR 300.68 per Denomination.

    Unless otherwise defined in this notice, capitalised terms used in this notice shall have the meaning given to them in the Listing Particulars (‘’Note d’Information’’) dated 1st June, 1985, as applicable, relating to the Notes.

    Yours faithfully,

    For and on behalf of

    CIC Lyonnaise de Banque

    By:

    Duly authorised

    DISCLAIMER
    This press release does not constitute an offer to purchase, or the solicitation of an offer to sell, the Instruments in the United States, Canada, Australia, or Japan or in any other jurisdiction, including France. The distribution of this press release in certain jurisdictions may be restricted by law. Persons into whose possession this press release comes are required to inform themselves and observe any such restrictions. No communication may be distributed to the public in any jurisdiction in which registration or approval is required. No action has been or will be taken in any jurisdiction where such action would be required; CIC Lyonnaise de Banque disclaims any liability for any violation by any person of such restrictions.

    Contacts
    Corporate Communications and Press Relations Department: +33 (0)1 53 48 26 00 – compresse@cic.fr
    Investor Relations: bfcm-web@creditmutuel.fr

    About CIC Lyonnaise de Banque

    A leading bank in the South-Eastern quarter of France, CIC Lyonnaise de Banque has a network of nearly 300 branches and 3,000 employees for its 1.3 million customers. To meet the needs of all economic players and to build a constantly performing offer on a daily basis, he combines the professions of finance, insurance, telephony and advanced technological services with a great financial strength reinforced by CIC Group and the Group parent company, Crédit Mutuel Alliance Fédérale. More information on CIC.fr

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  • MIL-OSI: Bitget Delivers A Knockout Experience: VIP Access to Karate Combat’s KC54 Dubai UFC Fight

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, May 26, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, brought the heat to Token2049 with an exclusive ringside experience at Karate Combat KC54 in Dubai on May 2nd. Think high-octane strikes, VIP treatment, and a night so wild, even the blockchain felt the impact.

    This year, Bitget raised the stakes by offering a premium experience that put crypto enthusiasts right at the heart of the action. Bitget’s esteemed VIPs witnessed world-class fighters trade blows while enjoying gourmet food and premium beverages in an exclusive VIP section reserved just for Bitget’s key opinion leaders and special guests.

    With a crowd of 4,000-5,000 roaring fight fans, the energy in Dubai’s premier venue was electric. Bitget COO Vugar Usi Zade perfectly captured the spirit of the event: “Crypto trading and combat sports demand the same qualities—quick reflexes, strategic thinking, and nerves of steel. We’re thrilled to give our community this exclusive opportunity to experience world-class competition up close. Whether you’re analyzing charts or analyzing fight techniques, this is where champions are made.”

    Robert Bryan, CEO of Karate Combat, remarked, “KC54 marked a significant milestone in our journey, and having Bitget as a sponsor amplified our commitment to innovation in combat sports. Their support helped us deliver an unforgettable experience that blended tradition with cutting-edge technology.

    Asim Zaidi, President of Karate Combat, also added, “Partnering with Bitget for KC54 was a game-changer. Their involvement not only elevated the event’s profile but also underscored the synergy between martial arts and the evolving digital landscape.”

    The event marked another strategic partnership for Bitget in the combat sports world, following their successful collaborations with professional combat athletes such as Wrestling World Champion, Buse Tosun Çavuşoğlu, and Boxing Gold Medalist Samet Gümüş (Boxing). By creating these exclusive live experiences, Bitget continues to build meaningful connections between the crypto community and high-profile sporting events.

    Jyotsna Hirdyani, Bitget’s South Asia head, who orchestrated the event, shared insights. “This is the future. From blockchain to sports, crypto is changing the game forever. This is what happens when sports & entertainment meet blockchain technology. It’s a cultural shift where you will see more & more cross-plays of sports x crypto, the ultimate cross-over.”

    This partnership underscores Bitget’s commitment to delivering unique, high-value experiences to its community. Just as in trading, timing is everything, and May 2nd in Dubai was when crypto met combat in what turned out to be an unforgettable showdown. Bitget’s focus remains on creating tangible value for the crypto community beyond digital interfaces.

    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 Karate

    Karate Combat is the world’s premier full-contact karate league, renowned for its innovative approach to combat sports entertainment. Known for its distinctive, fast-paced fighting style – essentially MMA without ground fighting, Karate Combat delivers high-energy bouts, with nearly half ending in knockouts. With over 7 million followers, hundreds of millions of views monthly, and over 100,000 active app users, Karate Combat is at the forefront of blending sports, technology community-driven experiences.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/c42afdf6-d6ba-4c86-9956-11a55ab53e57

    https://www.globenewswire.com/NewsRoom/AttachmentNg/7491be04-23bb-4a08-adea-298413bc3465

    https://www.globenewswire.com/NewsRoom/AttachmentNg/11cf807e-3ef9-44f5-8645-11265a51e617

    https://www.globenewswire.com/NewsRoom/AttachmentNg/3b65cc5e-9dd9-4842-9b2c-cb12d08b16d6

    The MIL Network

  • MIL-OSI: Danske Bank share buy-back programme: transactions in week 21

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 26 2025

    Danske Bank

    Bernstorffsgade 40

    DK-1577 København V

    Tel. + 45 33 44 00 00

    26 May 2025

    Page 1 of 1

    Danske Bank share buy-back programme: transactions in week 21

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

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

    The following transactions on Nasdaq Copenhagen A/S were made under the share buy-back programme in week 21:

      Number of shares VWAP DKK Gross value DKK
    Accumulated, last announcement 6,021,965 225.3747 1,357,198,355
    19 May 2025 50,000 252.6524 12,632,620
    20 May 2025 50,000 255.7486 12,787,430
    21 May 2025 89,501 256.4140 22,949,309
    22 May 2025 55,000 254.4755 13,996,153
    23 May 2025 60,000 253.8853 15,233,118
    Total accumulated over week 21 304,501 254.8387 77,598,630
    Total accumulated during the share buyback programme 6,326,466 226.7928 1,434,796,985

    With the transactions stated above, the total accumulated number of own shares under the share buy-back programme corresponds to 0.758% of Danske Bank A/S’ share capital.

    Danske Bank

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

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

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