Category: Finance

  • MIL-OSI: Markets4you Wins Two Major Awards at FX Daily Awards 2025

    Source: GlobeNewswire (MIL-OSI)

    ROAD TOWN, British Virgin Islands, March 24, 2025 (GLOBE NEWSWIRE) —

    Multi-asset broker Markets4you has announced its double win at the FX Daily Awards 2025, receiving Best Forex Broker APAC and Best Mobile App Trading Platform Global. These awards recognize Markets4you’s strong presence in the Asia-Pacific (APAC) region and its commitment to providing traders with a secure, fast, and reliable trading platform—both on desktop and mobile.

    The APAC region remains one of the fastest-growing markets for online trading. With over 3 million users, Markets4you has helped traders access a wide range of markets, including forex, stocks, indices, and more. The company continues to expand its local support teams, provide expert market insights, and offer educational resources to help traders make informed decisions.

    Markets4you’s mobile app also received recognition for its speed, user-friendly design, and full trading features. It allows users to open and manage trades, deposit, withdraw, and monitor the markets from anywhere with ease.

    Ms. Marina Strauss, CEO of Markets4you, shared: “These awards show our dedication to creating the best possible trading experience for our users. Whether it’s through our platform or mobile app, we’re committed to helping traders achieve their goals with the right tools, support, and market access.”

    Markets4you remains focused on continuous improvement, innovation, and delivering real value to traders around the world.

    About Markets4you
    Markets4you is an award-winning, multi-asset trading platform offering contracts for difference (CFDs) in a wide range of markets across various assets, including forex, stocks, commodities, and indices. For 18 years, Markets4you has been trusted by over 3 million traders and 100,000 partners worldwide.

    The award-winning broker has attained over 35 industry awards, including:
    International Business Magazine Awards 2024
    ● Best Partnership Program Asia
    ● Best Global Online Trading Platform
    ● Best Global Mobile Trading App

    Global Forex Awards 2024
    ● Best Affiliate Program – Asia
    ● Most Transparent Broker – Global

    Forex4you and Markets4you are registered trademarks of E-Global Trade & Finance Group, Inc.

    For more information, users can visit www.markets4you.com.

    Contact

    Marketing Manager
    Yew Chong
    Markets4you
    yew.chong@eglobal-group.com 

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b649e647-b1ac-4971-b15d-9256f289d1d1

    The MIL Network

  • MIL-OSI United Kingdom: British exports shine in African infrastructure and renewable energy deal

    Source: United Kingdom – Executive Government & Departments 4

    Press release

    British exports shine in African infrastructure and renewable energy deal

    A partnership with UK Export Finance (UKEF) has enabled British firm Dints to secure a £12.5 million contract for infrastructure and renewable energy operations

    Image: Dints International

    • Dints International wins contract to supply Angolan infrastructure and renewable energy operations
    • Contract made possible in part thanks to UK government guarantee
    • Boosting exports plays a vital role in growing the economy, a key part of the Plan for Change

    A partnership with UK Export Finance (UKEF) has enabled British firm Dints to secure a £12.5 million contract as supplier to MCA’s infrastructure and renewable energy operations in Angola.  

    Established 18 years ago, Dints is a London-based project integrator bringing together buyers, suppliers, logistics providers and funding partners.    

    A loan guarantee issued by UKEF to Apple Bank means that the Portuguese contractor operating in Angola, MCA, can now access finance to purchase more than £12.5 million in equipment through Dints. This will create opportunities for UK manufacturers to supply goods and services to the project. 

    Dints will provide vehicles, plant and machinery to support infrastructure and renewable energy projects in Angola. UKEF’s support helps companies like Dints to grow the economy, delivering on the Plan for Change.   

    Recent partnerships with Dints have helped to generate over £21 million in UK exports to markets including Peru, Guinea, Côte d’Ivoire and Botswana. These projects support jobs across the UK supply chain, as Dints’ suppliers come from regions including Leicestershire, Yorkshire and Humber, Staffordshire, County Armagh, Cambridgeshire, and Hertfordshire.

    Gareth Thomas, Minister for Exports, said:  

    This deal opens a wealth of opportunities for UK businesses, helping to increase exports, boost jobs and grow the economy.

    As part of our Plan for Change, we are firmly backing businesses to export around the world and reach new markets, and this deal is a shining example of just that.

    Geoffrey de Mowbray, Dints’ CEO, said:  

    It has been a pleasure to work with MCA on this transaction. By bringing together UK and international suppliers with the support of UKEF, AF Capital and Apple Bank, suppliers are paid as if selling to their domestic markets while unlocking global opportunities. This approach makes UK exports more accessible as well as facilitating critical infrastructure and renewable energy projects and demonstrates the value of a coordinated, transparent export model in driving sustainable development.

    Tim Reid, CEO of UK Export Finance, said:

    By providing a loan guarantee to Dints’ overseas client, we’re not only securing a substantial export opportunity for British suppliers but also helping to transform lives in Angola through improved access to critical infrastructure and renewable electricity. This is exactly the kind of win-win outcome we strive to achieve at UK Export Finance.

    Manuel Couto Alves, Founder & Chairman of MCA, said: 

    At MCA, we recognise the critical role that strategic partnerships play in driving meaningful and sustainable change. As we continue to expand our infrastructure operations and deliver world-class projects in Angola, it is clear that collaboration with financial institutions such as UK Export Finance and trusted suppliers like Dints is essential in achieving the ambitious goals of sustainable development.

    Stephen Peal, Group MP of Yorpower, a supplier on the project, said: 

    This has been an exciting opportunity for YorPower from the start. It is an honour to be supporting the energy transition in Angola, which is a new territory for us. Working along Dints has proven to be an outstanding route to new territories and opportunities across the world. We are able to grow and develop our brand without the complication export would normally present, by dealing locally in the UK with the experts at Dints.

    Charlie Style, Business Development Manager at King Trailers, a supplier on the project, said: 

    King Trailers is proud to support Dints in delivering projects contributing to the sustainable development of communities in Angola. Our specialized transport solutions will play a key role in ensuring the safe and efficient movement of essential equipment, reinforcing our commitment to supporting global infrastructure and renewable energy projects.

    This collaboration was made possible through the support of UK Export Finance (UKEF), which plays a crucial role in championing British manufacturing. UKEF’s backing not only enables companies like King Trailers to secure international contracts but also drives innovation and strengthens the UK supply chain. By providing financial support and export credit guarantees, UKEF helps safeguard skilled jobs at King Trailers and across the wider UK manufacturing sector, ensuring long-term growth and competitiveness on the global stage.

    UKEF issued the guarantee through its Standard Buyer Loan Guarantee product. By helping buyers to purchase UK exports more easily, loans from or guaranteed by UKEF secure export contracts with good payment terms for British businesses – including small businesses likely to need payment upfront before they can deliver a contract.

    Contact

    Media enquiries:

    Updates to this page

    Published 24 March 2025

    MIL OSI United Kingdom

  • MIL-OSI: AGF Investments Announces March 2025 Cash Distributions for Certain AGF ETFs and ETF Series

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 24, 2025 (GLOBE NEWSWIRE) — AGF Investments Inc. (AGF Investments) today announced the March 2025 cash distributions for AGF Enhanced U.S. Equity Income Fund*, AGF Total Return Bond Fund* and AGF Systematic Global Infrastructure ETF, which pay monthly distributions, as well as AGF Global Sustainable Growth Equity ETF and AGF Systematic Global Multi-Sector Bond ETF, which pay quarterly distributions. Unitholders of record on March 31, 2025 will receive cash distributions payable on April 4, 2025.

    Details regarding the final “per unit” distribution amounts are as follows:

    ETF Ticker Exchange Cash Distribution Per Unit ($)
    AGF Enhanced U.S. Equity Income Fund* AENU Cboe Canada Inc. $0.139911
    AGF Total Return Bond Fund* ATRB Cboe Canada Inc. $0.116000
    AGF Systematic Global Infrastructure ETF QIF Cboe Canada Inc. $0.140750
    AGF Global Sustainable Growth Equity ETF AGSG Cboe Canada Inc. $0.007818
    AGF Systematic Global Multi-Sector Bond ETF QGB Cboe Canada Inc. $0.061607


    *AGF Enhanced U.S. Equity Income Fund and AGF Total Return Bond Fund are mutual funds with an ETF series option.

    Further information about the AGF ETFs can be found at AGF.com.

    About AGF Management Limited

    Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.

    AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

    Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With nearly $54 billion in total assets under management and fee-earning assets, AGF serves more than 815,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

    About AGF Investments

    AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). The term AGF Investments may refer to one or more of these subsidiaries or to all of them jointly. This term is used for convenience and does not precisely describe any of the separate companies, each of which manages its own affairs.

    AGF Investments entities only provide investment advisory services or offers investment funds in the jurisdiction where such firm and/or product is registered or authorized to provide such services.

    AGF Investments Inc. is a wholly-owned subsidiary of AGF Management Limited and conducts the management and advisory of mutual funds in Canada.

    Media Contact

    Amanda Marchment
    Director, Corporate Communications
    416-865-4160
    amanda.marchment@agf.com  

    The MIL Network

  • MIL-OSI: In a First, LNG Cargo Trade Indexed to Abaxx LNG Futures

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 24, 2025 (GLOBE NEWSWIRE) — Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, majority shareholder of Abaxx Singapore Pte Ltd., the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), and producer of the SmarterMarkets™ Podcast, today announced the first over-the-counter (“OTC”) trade of an LNG cargo indexed to Abaxx LNG futures.

    Two Asia-based counterparties have agreed to trade an LNG cargo to be exported from the Gulf of Mexico (“GOM”) with the transaction price indexed to Abaxx GOM LNG futures. The adoption of Abaxx physically deliverable LNG futures as the price index for an OTC LNG cargo trade represents a significant milestone and advances their potential to become benchmarks in global LNG markets. On Friday, March 21, 2025, the Abaxx GOM LNG futures (May delivery) settled at $12.46/mmBtu¹, the Abaxx NWE LNG futures (May delivery) settled at $13.37/mmBtu, and the Abaxx NPA LNG Futures (May delivery) settled at $13.59/mmBtu.

    “This trade reflects the need for more precise LNG pricing as geopolitical shifts, including tariffs and trade disputes, continue to impact global commodities markets,” said Joe Raia, Chief Commercial Officer of Abaxx Exchange. “The use of Abaxx futures settlement prices for this high-value cargo gives the global LNG market confidence in the strength of our contracts and reinforces their role as a reliable tool for managing price risk with benchmarks that reflect real LNG market conditions more reliably than regional pipeline hubs or proxies.”

    About Abaxx Technologies Inc.

    Abaxx is building Smarter Markets — markets empowered by better financial technology and market infrastructure to address our biggest challenges, including the energy transition. In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is the majority-owner of Abaxx Exchange and Abaxx Clearing, subsidiaries recognized by MAS as an RMO and ACH, respectively.

    Abaxx Exchange and Abaxx Clearing are a Singapore-based commodity futures exchange and clearinghouse, introducing centrally-cleared, physically deliverable commodities futures and derivatives to provide better price discovery and risk management tools for the commodities critical to our transition to a lower-carbon economy.

    For more information please visit abaxx.tech, abaxx.exchange and smartermarkets.media.

    For more information about this press release, please contact:
    Steve Fray, CFO
    Tel: +1 647 490 1590

    Media and Investor inquiries:
    Abaxx Technologies Inc.
    Investor Relations Team
    Tel: +1 647 490 1590
    E-mail: ir@abaxx.tech

    ¹“Million British thermal units”, a thermal unit of measurement for natural gas.

    Cautionary Statement Regarding Forward-Looking Information

    This press release includes certain “forward-looking statements” which do not consist of historical facts. Forward-looking statements include estimates and statements that describe Abaxx’s future plans, objectives, or goals, including words to the effect that Abaxx expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “seeking”, “should”, “intend”, “predict”, “potential”, “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “continue”, “plan” or the negative of these terms and similar expressions. Since forward-looking statements are based on current expectations and assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Abaxx, Abaxx does not provide any assurance that actual results will meet respective management expectations. Risks, uncertainties, assumptions, and other factors involved with forward- looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information.

    Forward-looking information related to Abaxx in this press release includes, but is not limited to: Abaxx’s objectives, goals or future plans, introduction of new battery materials products; liquidity on Abaxx Exchange; the delivery of commodities subject to futures contracts; and the expected growth and positive impacts from global battery metal demand. Such factors impacting forward-looking information include, among others: risks relating to the global economic climate; dilution; Abaxx’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for Abaxx to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on Abaxx and the industry; acquiring and maintaining regulatory approvals for Abaxx’s products and operations; the ability to list Abaxx’s securities on stock exchanges in a timely fashion or at all; network security risks; the ability of Abaxx to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors which could impact future results of the business of Abaxx include but are not limited to: operations in foreign jurisdictions; protection of intellectual property rights; contractual risk; third-party risk; clearinghouse risk; malicious actor risks; third-party software license risk; system failure risk; risk of technological change; dependence of technical infrastructure; changes in the price of commodities; capital market conditions; and restriction on labor and international travel and supply chains in addition to the risk factors identified in the Company’s most recent management discussion and analysis filed on SEDAR+. Abaxx has also assumed that no significant events occur outside of Abaxx’s normal course of business.

    Abaxx cautions that the foregoing list of material factors is not exhaustive. In addition, although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Abaxx has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking statements and information contained in this press release represents the expectations of Abaxx as of the date of this press release and, accordingly, is subject to change after such date. Abaxx undertakes no obligation to update or revise any forward-looking statements and information, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements and information. Cboe Canada does not accept responsibility for the adequacy or accuracy of this press release.

    The MIL Network

  • MIL-OSI Africa: Minister leads G20 environment working group

    Source: South Africa News Agency

    Minister of Forestry, Fisheries and the Environment, Dr Dion George, will this week lead the Group of Twenty (G20) Environment and Climate Sustainability Working Group (ECSWG) as part of South Africa’s Presidency of the G20. 

    “It is expected that the outcome of this first virtual G20 ECSWG meeting will provide strategic direction and a common understanding amongst G20 Member States on the key environmental and climate change priorities and deliverables,” the Minister said on Sunday.

    Taking place under the theme: “Solidarity, Equality, and Sustainability,” the Minister is expected to open the meeting on Tuesday, by setting the scene for South Africa’s Presidency of the G20 ECSWG, provide an opportunity to discuss the five priorities and deliverables, and also present the proposed work plan for the G20 ECSWG for 2025.

    The priority focus areas for South Africa’s Presidency of the G20 ECSWG include:

    • Biodiversity and Conservation – Implementation of the Global Biodiversity Framework and the Biodiversity Economy;
    • Land Degradation, Desertification and Drought – Land Degradation Neutrality targets;
    • Chemicals and Waste Management – Sustainable Chemicals Management; Circular Economy; Waste Management; Waste to Energy; Extended Producer Responsibility (EPR) implementation;
    • Climate Change and Air Quality – Just Transition; Loss and Damage; Adaptation, including Climate Resilient Development (CRD); Climate Finance and Air Quality; and
    • Oceans and Coastal Management – Marine Spatial Planning – ocean governance; combatting marine plastic pollution.

    The G20 ECSWG aims to enhance cooperation amongst all G20 members and invitees to address environmental and climate change priorities. 

    The G20 comprises 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom and United States, as well as two regional bodies, namely the European Union and the African Union.

    The G20 members represent about two-thirds of the world population, approximately 85% of the global GDP and over 75% of the global trade. 

    This platform is considered as the leading forum for international economic cooperation and plays an important role in shaping and strengthening global architecture and governance on all major international economic issues.

    South Africa’s Presidency of the G20 commenced on 01 December 2024 and will continue until 30 November 2025. 

    The Presidency will build upon on the achievements of India (2023 Presidency) and Brazil (2024 Presidency), to ensure continuity in advancing the developmental agenda within the G20. 

    “South Africa’s G20 Presidency provides a unique opportunity for the country to champion the aspirations of emerging market economies and lead the developmental agenda of the African Continent within the framework of the G20.”

    A total of three G20 ECSWG meetings and one ECSWG Ministerial meeting will be held in South Africa, with the first virtual meeting scheduled to take place from 25 – 28 March 2025; followed by the second meeting from 14-18 July 2025 at Kruger National Park, and the final meeting in October 2025 at Cape Town.

    The Ministerial meeting will be held back-to-back with the third ECSWG meeting in October 2025.

    The department will also roll out outreach and awareness activities in the buildup to the three G20 ECSWG meetings throughout the country to amplify the messaging on the focus areas for the G20 ECSWG.

    “The department will leverage South Africa’s Presidency of the G20 to market and showcase the Kruger-Kirstenbosch-iSimangaliso Icon Status Strategy (KISS). Some of the meetings and activities will take place at these iconic world-class sites to showcase them on the global stage,” the Minister said. – SAnews.gov.za

    MIL OSI Africa

  • MIL-OSI Banking: ADB and Shriram Finance Sign Deal to Boost MSME and EV Financing in India

    Source: Asia Development Bank

    NEW DELHI, INDIA (24 March 2025) — The Asian Development Bank (ADB) and Shriram Finance Limited have signed a loan agreement for $150 million to boost access to finance for micro, small, and medium-sized enterprises (MSMEs) in India with a focus on business loans and for financing electric vehicles (EVs) and low-emission commercial vehicles for business purposes. The loan will particularly benefit women-owned MSMEs and those in lagging states.

    The transaction is part of a total $306 million financing package led by ADB as the mandated lead arranger and bookrunner, which includes a loan of $150 million from Japan International Cooperation Agency and INR 500 million from Export-Import Bank of India.

    Shriram Finance Limited is the flagship company of the Shriram Group and is one of India’s largest non-banking financial companies specializing in commercial vehicle financing and MSME lending.

    “This project underscores ADB’s commitment to supporting financial inclusion and sustainable development in India while addressing the significant financing gap faced by MSMEs,” said ADB Country Director for India Mio Oka. “By partnering with Shriram Finance Limited, we will empower MSMEs, particularly women entrepreneurs, and accelerate the transition to electric mobility, which is crucial for reducing air pollution and achieving India’s climate goals.”

    MSMEs play a vital role in India’s economy, contributing 30% of India’s GDP and employing over 123 million people. However, they face significant challenges in accessing formal credit, with only a quarter of the MSME market being served by financial institutions. Women entrepreneurs face additional barriers due to social norms and limited access to collateral. ADB’s loan will help bridge this gap by enhancing Shriram Finance’s ability to provide tailored financial solutions to MSMEs, enabling them to reach underserved segments particularly in rural, semi-urban areas and in lagging states, and provide economic opportunities for women-owned MSMEs. ADB’s loan also supports the government’s initiatives to reduce air pollution through the adoption of EVs and low-emission (Bharat Stage-VI compliant) vehicles. The government’s EV30@30 initiative targets 30% of all new vehicle sales to be electric by 2030.

    “We value ADB’s support and funding, which will enable us to expand our financing to underserved MSMEs and promote the adoption of electric vehicles,” said Shriram Finance Limited Executive Vice Chairman Umesh Revankar. “Our continued partnership with ADB aligns with our corporate mission to drive inclusive growth and support India’s transition to a greener economy. This facility strengthens our commitment to financial inclusion and economic development.”

    Founded in 1979, Shriram Finance has 3,196 branches and 79,405 employees serving over 9 million customers, with assets under management of INR 2.54 trillion and strong operations in rural and semi-urban areas. It is well-positioned to support underserved MSMEs and drive the adoption of electric and low-emission vehicles.

    ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—49 from the region.

    MIL OSI Global Banks

  • MIL-OSI Australia: Call for information – Ram raids – Greater Darwin Region

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Force is calling for information in relation to two ram raids in the Greater Darwin Region overnight.

    About 1:55am this morning, police received reports of a burglary at a licensed premises on Winnellie Road. It is alleged two males used a vehicle to ram the front doors of the premises before they entered and attempted to steal multiple items.

    A short time later at 2:35am, police received further reports that a ram raid occurred at a licenced premises in Humpty Doo where a quantity of alcohol was stolen.

    Strike Force Trident detectives reviewed CCTV and identified that the vehicle used in both ram raids was allegedly stolen from a residence in Roseberry. Police have since recovered the vehicle abandoned in Palmerston.

    Investigations remain ongoing to locate the offenders and police are urging anyone with information in relation to this incident to make contact on 131 444.

    You can anonymously report on Crimestoppers via 1800 333 000 or online at https://crimestoppersnt.com.au/. Please quote reference number P25080487.

    *This media release has been updated since initial release to clarify that two ram raids occurred*

    MIL OSI News

  • MIL-OSI: Rapid7 Appoints Three New Board Members

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, March 24, 2025 (GLOBE NEWSWIRE) — Rapid7, Inc. (NASDAQ: RPD), a leader in extended risk and threat detection, today announced that it will appoint three new members to its Board of Directors: Wael Mohamed, Mike Burns and Kevin Galligan. These appointments will expand Rapid7’s Board to comprise 11 directors. In addition, Rapid7 and JANA Partners Management, LP have entered into a cooperation agreement, which, among other things, provides that JANA Partners will support all of Rapid7’s director nominees at its upcoming annual shareholder meeting.

    Corey Thomas, Chairman and CEO of Rapid7, stated: “Rapid7 is entering an exciting new chapter of growth, and we are confident that adding Wael, Mike and Kevin to our Board will accelerate our ability to execute with greater speed, focus and impact. Each brings a wealth of expertise that will help us sharpen our strategy, strengthen execution and drive greater value creation for our shareholders.”

    Thomas continued, “With a differentiated security data platform and an expanding security operations ecosystem, we are delivering cutting-edge solutions in AI-driven threat detection and response, cloud security and exposure management — empowering organizations to secure their environments more effectively and efficiently. We are well-positioned within these markets to drive sustainable, profitable growth, and these strategic Board appointments reinforce our commitment to scaling our business, enhancing operational efficiency, and driving long-term shareholder returns.”

    Scott Ostfeld, Managing Partner of JANA Partners, added: “We are encouraged by the steps Rapid7 is taking to enhance its leadership and execution capabilities. We have appreciated our highly constructive dialogue with Rapid7 and look forward to working with management and the Board to capitalize on the significant opportunities ahead and to maximize value for shareholders.”

    A copy of the cooperation agreement will be included as an exhibit to the company’s Current Report on Form 8-K to be filed with the Securities and Exchange Commission.

    Advisors

    J.P. Morgan is serving as financial advisor, and Simpson Thacher & Bartlett LLP is serving as legal advisor, to Rapid7 in connection with the cooperation agreement.

    About Wael Mohamed

    Wael Mohamed has a unique combination of cybersecurity, digital transformation, and executive leadership expertise, which has enabled him to be a go-to advisor for boards and executives for more than 30 years. Mr. Mohamed is the co-founder and Managing General Partner of Global Forward Capital. Prior to that, Mr. Mohamed was an Operating Partner at Advent International and became the CEO of Forescout, an Advent International portfolio company. He previously served as President & COO and board member of Trend Micro Group. Mr. Mohamed received a Bachelor of Computer Science from Dalhousie University and the Executive Corporate Director Certificate from Harvard Business School.

    About Mike Burns

    Mike Burns has more than 25 years of senior leadership experience in finance and operations with high-growth public technology companies. Most recently, Mr. Burns served as Chief Financial Officer of Imperva, Inc. Previously he served as CFO of Gigamon as well as CFO of Volterra Semiconductor. Earlier in his career, Mr. Burns held senior finance roles at Intel Corporation. He earned his A.B. in Economics and M.S. in Industrial Engineering from Stanford University, and his MBA from the UC Berkeley Haas School of Business.

    About Kevin Galligan

    Kevin Galligan has 18 years of experience investing in companies and driving shareholder value. He is a Partner and Director of Research at JANA Partners, an investment firm specializing in enhancing shareholder value. Mr. Galligan joined JANA Partners in 2011 from Kohlberg Kravis Roberts & Company where he was a Principal in the North American Private Equity Group. Prior to that, he worked in the Mergers & Acquisitions Advisory Division of The Blackstone Group. Mr. Galligan holds a B.A. in Economics from Columbia University.

    About Rapid7

    Rapid7 (Nasdaq: RPD) is on a mission to create a safer digital world by making cybersecurity simpler and more accessible. We empower security professionals to manage a modern attack surface through our best-in-class technology, leading-edge research, and broad, strategic expertise. Rapid7’s comprehensive security solutions help more than 11,000 global customers unite cloud risk management and threat detection to reduce attack surfaces and eliminate threats with speed and precision. For more information, visit our website, check out our blog, or follow us on LinkedIn or X.

    Cautionary Language Concerning Forward-Looking Statements

    This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, the statements regarding the appointment of Wael Mohamed, Michael Burns, and Kevin Galligan, and the experiences and value that they will bring to the Board and Rapid7, Inc. (“Rapid7”). Our use of the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “will” and similar expressions are intended to identify forward-looking statements. The events described in our forward-looking statements are subject to a number of risks and uncertainties, assumptions and other factors that could cause actual results and the timing of certain events to differ materially from future results expressed or implied by the forward-looking statements. Risks that could cause or contribute to such differences include, but are not limited to, growing macroeconomic uncertainty, unstable market and economic conditions, fluctuations in our quarterly results, our ability to successfully grow our sales of our cloud-based solutions, including through the shift to a consolidated platform sales approach, effectiveness of our restructuring plan that was completed during fiscal year 2024, failure to meet our publicly announced guidance or other expectations about our business, our ability to sustain our revenue growth rate, the ability of our products and professional services to correctly detect vulnerabilities, renewal of our customer’s subscriptions, competition in the markets in which we operate, market growth, our ability to innovate and manage our growth, our sales cycles, our ability to integrate acquired companies, exposure to greater than anticipated tax liabilities, and our ability to operate in compliance with applicable laws as well as other risks and uncertainties that could affect our business and results described in our filings with the Securities and Exchange Commission (the “SEC”), including our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 28, 2025, particularly in the section entitled “Item 1.A Risk Factors,” and in the subsequent reports that we file with the SEC. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those expressed in any forward-looking statements we may make. Except as required by law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.

    Additional Information

    Rapid7 intends to file a proxy statement, together with a proxy card, with the SEC in connection with its solicitation of proxies for its 2025 Annual Meeting of Stockholders (the “2025 Annual Meeting”). Rapid7 stockholders are urged to read the proxy statement, together with the proxy card, and other relevant documents filed or to be filed with the SEC when they become available because they contain or will contain important information. Investors will be able to get copies of the proxy statement and other documents (including the proxy card) filled with the SEC by Rapid7 for free at the SEC’s website, www.sec.gov. Copies of those documents will also be available free of charge through the “Investors” section of Rapid7’s website, under Financials/SEC Filings, at www.rapid7.com.

    Participants in the Solicitation

    Rapid7, members of our Board of Directors and certain of our executive officers are “participants” in the solicitation of proxies from the Company’s stockholders in connection with the 2025 Annual Meeting. Information regarding the Company’s Board of Directors and executive officers and their respective interests in the Company, by security holdings or otherwise, is set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 28, 2025. To the extent such ownership interests have changed since such filings, such changes have been reflected on Statements of Change in Ownership on Form 4 filed with the SEC, and will be reflected in the Proxy Statement for the 2025 Annual Meeting when filed with the SEC. Security holders may obtain free copies of these documents as described above.

    Investor contact:
    Elizabeth Chwalk
    Vice President, Investor Relations
    investors@rapid7.com
    (617) 865-4277

    Press contact:
    Alice Randall
    Director, Global Corporate Communications
    press@rapid7.com
    (214) 693-4727 

    The MIL Network

  • MIL-OSI Economics: Piero Cipollone: Interview with Expansión

    Source: European Central Bank

    Interview with Piero Cipollone, Member of the Executive Board of the ECB, conducted by Andrés Stumpf

    24 March 2025

    The last ECB Governing Council meeting left the door open for a pause in interest rate cuts, or even stopping them all together. Would you be OK with rates remaining at their current level of 2.5%?

    At the time of our March meeting, markets were pricing in a reduction in interest rates over the coming months, including going below 2%, with rates stabilising around that level. To produce our macroeconomic projections we take as given the rate path being priced in by markets and, despite rates being on a downward trajectory, the projections showed inflation converging towards our target at the beginning of 2026, with slightly weaker growth.

    Since then, not only has this narrative been confirmed, but key issues have arisen that have strengthened the arguments in favour of continuing to lower rates. First, energy prices have fallen significantly. The upward revision to projected inflation for this year was based on increased energy costs, but the pressure has eased as this trend reverses. Second, the euro has appreciated and real rates have increased, which contributes to lower inflation.

    And if the United States were to impose tariffs on European exports, that would have a negative impact on demand, which would further strengthen the downward trend in inflation. In the same vein, trade tensions between China and the United States could lead to China redirecting its products to the European market, increasing the downward pressure on prices.

    So will you continue cutting rates?

    We will go into each meeting with an open mind, assessing the available data and taking decisions on a meeting-by-meeting basis. Each adjustment will depend on how the economy evolves and how the uncertainties are resolved, but current conditions make it conceivable that monetary policy will be less restrictive as, at the moment, the outlook remains consistent with our March projections.

    In fact, according to the data we have available, we are likely to reach our inflation objective sooner than our latest projections indicate.

    The ECB’s latest statement signalled that monetary policy is now “meaningfully less restrictive”. Does this solely refer to the rate cuts that have already happened, or might it give us some hints about your next moves?

    That phrase alludes to the fact that we have already come a long way. It doesn’t say anything about the future, and we will go into the next meeting with new data that we will have to assess. If the path and our narrative are confirmed, from my perspective there is room to relax our monetary policy further.

    Would additional rate cuts get us to the famous, much-debated “neutral rate”, which is neither expansionary nor contractionary?

    It’s an interesting theoretical concept, but not particularly useful for conducting monetary policy. At the ECB we have sophisticated models and economists who analyse projections and risks. Their work provides crucial information that enables the Governing Council to take decisions on the basis of sound evidence. The neutral rate sparks an engaging debate, but the range [from 1.75% to 2.25%] is so wide that, depending on where you fall within this apparent neutral range, you could be conducting a totally different monetary policy.

    Europe currently needs substantial investment to tackle the climate transition and the loss of competitiveness, and now also for defence. Can the ECB help to mitigate this challenge?

    The ECB will contribute by providing a stable environment. For us, price stability and the expectation of price stability are essential elements because they encourage long-term planning. Families and businesses can plan, invest and take decisions accordingly.

    We are considering climate change, competitiveness and security challenges and the associated financing needs from that angle, analysing their economic and financial impact from the perspective of price stability. Aside from that, we’re getting into areas that aren’t within the ECB’s mandate.

    In any case, it’s important to avoid monetary policy keeping GDP growth below potential if that isn’t necessary to control inflation. If we are continually growing below potential we will end up undermining that potential. Investment is essential for supporting and growing the economy, and unnecessarily reducing investment can hamper long-term growth and make the economy more vulnerable to shocks.

    So, in this sense, our main contribution will be maintaining price stability, securing a stable economic environment and avoiding unnecessary restrictions on GDP growth.

    Recently you have signalled that the ECB shrinking its balance sheet could make monetary policy more restrictive and demand larger rate cuts.

    It’s more complicated than that. The large asset purchases we carried out in the past lowered long-term sovereign bond yields by as much as 175 basis points. Now, because of the reduction in the size of our balance sheet, this figure is 75 basis points and falling.

    But there’s another important factor. It’s not just about the size of central bank reserves, it’s also about their composition. ECB research shows that the composition of these reserves is very important for banks’ lending ability. The research estimates that debt portfolio holdings (under the ECB’s asset purchase programme (APP) and pandemic emergency purchase programme (PEPP)) will decrease by around €500 billion in 2025. This is associated with a possible €75 billion decline in credit supply. To put this into perspective, it is roughly equivalent to the amount of loans that banks granted to non-financial corporations in 2024.

    Therefore, we should bear in mind that, if nothing else happens, the reduction of the central bank balance sheet is putting pressure on banks’ lending capacity. So we need to monitor this effect and take it into consideration when calibrating our monetary policy stance.

    Growth in Spain is stronger and inflation is somewhat higher. Is the country at risk from the interest rate cuts?

    Inflation in Spain is currently slightly higher due to energy prices, and the stronger growth is in part also driven by supply factors, such as the impact of migration on the labour market. I think Spain’s growth is healthy.

    In any case, there have always been differences between euro area economies, and between regions in individual countries. The important thing is that there is convergence in economic and financial conditions, and we are actually seeing that in many respects. For example, despite all the volatility, risk premia have remained relatively contained.

    What is the current status of the digital euro?

    We are progressing as planned with our preparation phase, which will come to an end in October this year. We have been working on selecting providers. We’ve carried out the procurement process with potential suppliers and are about to finalise it. We are also developing the rulebook, and we’re working on ways to engage more with users.

    In the meantime, we are waiting for the legislative process to be completed. That is a key component.

    Are you optimistic?

    We know that progress has been made and we hope that the process will be concluded within a reasonable amount of time.

    One factor is important: there is a growing sense of urgency. The situation outside the euro area is a source of pressure and demands greater consideration of the risks we face in payments as a result of our fragility and our extreme dependence on foreign providers. I have the impression that this increased sense of urgency has now reached the legislators.

    At the European Parliament, President Lagarde argued that the digital euro is a tool of sovereignty. Would you agree with that?

    I fully agree with that statement. The digital euro is a structural necessity for the European payments market, irrespective of recent developments in other countries. However, recent events further underline the urgent need to make progress in this direction.

    The digital euro is key to reducing our foreign dependence as regards Europeans’ everyday payments. In addition, having more solutions across Europe will make us more competitive, which will lead to lower prices, better services and greater innovation.

    At a time of tensions between the EU and the United States, don’t you think that a public initiative designed to compete with US payment systems could cause further friction?

    I don’t think so, because it’s logical to think that each jurisdiction should have its own infrastructure that it can rely on. Payments are like water or electricity – essential services that every economy needs to ensure are available. In developing a digital euro, we are not seeking a confrontation with anyone. Implementing a digital euro is something that we should have done irrespective of the circumstances. It is about ensuring the resilience of our economy and that we are the master of our own destiny.

    The United States has abandoned plans for a digital dollar and other countries have also put their projects on hold. Why do you think the digital euro should go ahead?

    Every country and every region has its particular characteristics. In Europe we are facing specific challenges, like a fragmented payments market and a dependence on foreign solutions. Other countries and regions do not have the same problems and so may not see the same need.

    In any case, in the United States, there is a proposal that would allow stablecoins to hold their reserves with the Federal Reserve. This could be marketed as a form of hybrid digital dollar. In fact, some stablecoins present themselves as the world’s digital dollar.

    When will people be able to pay with digital euro?

    It very much depends on when the legislative process is finalised. The technical preparations and developments will take time, both on our side and for banks and the market. This could take some two or two-and-a-half years from the moment the decision to issue a digital euro is taken, once the legislation is in place.

    Do you have an estimate of the cost of the project?

    As the legislation is still pending and the procurement phase has not yet been finalised, it is difficult to say what the final cost of the project will be. In the procurement documentation we gave an initial estimate for the elements that will be sourced externally. This was based on market research we had carried out previously. These costs are estimated to be €432 million, including both the infrastructure and the operation of the system for 10-15 years. On top of that there will also be internal development costs, especially for the ledger. The ECB would bear these costs in the same way as it does for the production and issuance of banknotes. And like for banknotes, these costs would be covered by the seigniorage income generated by the digital euro.

    MIL OSI Economics

  • MIL-OSI Asia-Pac: Mine Water Management by Coal and Lignite PSUs

    Source: Government of India (2)

    Posted On: 24 MAR 2025 1:03PM by PIB Delhi

    Coal and Lignite Public Sector Undertakings (PSUs), namely Coal India Limited (CIL), NLC India Limited (NLCIL), and Singareni Collieries Company Limited (SCCL), are implementing various measures to ensure the sustainable utilization of mine water for irrigation use. Excess mine water is gainfully utilized for industrial, and community use, including irrigation and domestic use, thereby reducing the need for groundwater extraction for such purposes. Regular monitoring and quality checks are conducted by accredited laboratories to ensure that the water meets the required standards for irrigation and domestic use. Rainwater harvesting and groundwater recharge measures are implemented alongside mine water utilization to maintain the groundwater balance. During FY 2024-25 (up to February 2025), Coal and Lignite PSUs have supplied approximately 3963 Lakh Kilo Liters (LKL) of treated mine water for domestic and irrigation use to local communities in and around coal and lignite mining areas in the respective states.

    Investment on infrastructure for mine water treatment has been made by Coal and Lignite PSUs on a regular basis in coal and lignite mining areas. Mine water treatment infrastructure forms an integral part of mining operations as per the statutory provisions mentioned in the Environment Clearance, Consent to Establish and Consent to Operate of the coal and lignite mining projects and includes such as effluent treatment plants for treating industrial discharge, water filter plants to ensure treated mine water meets quality standards, sedimentation tanks for filtration and settling of suspended particles, maintenance and upgradation of existing water treatment infrastructure to enhance efficiency and capacity, etc.

    An MoU has been executed between Western Coalfields Limited (WCL) and Maharashtra State Power Generation Corporation Limited for supplying treated mine water from Bhanegaon Open Cast Mine to Kapakheda Thermal Power Station. Due to this, water from the Irrigation Department, which was previously catering to the water requirements of the thermal power station is now available for domestic and irrigation purposes.

    This information was given by Union Minister of Coal and Mines Shri G. Kishan Reddy in a written reply in Rajya Sabha today.

    ****

    Shuhaib T

    (Release ID: 2114309) Visitor Counter : 126

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Removing the Restrictions on Coal Purchases for Power Plants

    Source: Government of India (2)

    Posted On: 24 MAR 2025 1:03PM by PIB Delhi

    Supply of coal to thermal power plants was earlier governed by New Coal Distribution Policy, 2007 (NCDP). The provisions of coal linkages of NCDP for power sector have been replaced by the Shakti Policy, 2017. Coal under these policies is supplied as per the commercial terms and conditions of the Fuel Supply Agreement (FSA) executed between the coal companies and the power plants. It has been decided by the Government in 2022 that the coal to meet the full Power Purchase Agreement (PPA) requirement of all the existing linkage holders of Power Sector shall be made available by the coal companies irrespective of the trigger and Annual Contracted Quantity (ACQ) levels. Coal Supply beyond the ACQ under the FSA has enabled supply of coal as per the requirement of the power plants. In addition, coal is also sold by the coal companies under the Single Window e-auctions, which caters to all the sectors including power sector.

    In case of coal supply under FSA, pricing of coal is done as per commercial terms, conditions of the FSA and the price notifications issued by Coal India Limited / Singareni Collieries Company Limited from time to time.

    The focus of the Government is on increasing the domestic production of coal to ensure sufficient availability of domestic coal. The country has witnessed highest ever coal production in the year 2023-24. The all-India coal production during the year 2023-24 was 997.826 Million Tonne (MT). In the current year 2024-25, the country has produced 929.15 MT (provisional) of coal (upto February, 2025) in comparison to 881.16 MT in the corresponding period of the last year 2023-24 with a growth rate of 5.45%.

    The steps taken by the Government to ensure adequate coal availability and enhance coal production in the country are as under:

    1. Regular reviews by Ministry of Coal to expedite the development of coal blocks.
    2. Enactment of Mines and Minerals (Development and Regulation) Amendment Act, 2021 [MMDR Act] for enabling captive mines owners (other than atomic minerals) to sell up to 50% of their annual mineral (including coal) production in the open market after meeting the requirement of the end use plant linked with the mine in such manner as may be prescribed by the Central Government on payment of such additional amount.
    3. Single Window Clearance portal for the coal sector to speed up the operationalization of coal mines.
    4. Project Monitoring Unit for hand-holding of coal block allottees for obtaining various approvals / clearances for early operationalization of coal mines.
    5. Auction of commercial mining on revenue sharing basis launched in 2020. Under commercial mining scheme, rebate of 50 % on final offer has been allowed for the quantity of coal produced earlier than scheduled date of production. Further, incentives on coal gasification or liquefaction (rebate of 50 % on final offer) have been granted.
    6. Terms and conditions of commercial coal mining are very liberal with no restriction on utilization of coal, allowing new companies to participate in the bidding process, reduced upfront amount, adjustment of upfront amount against monthly payment, liberal efficiency parameters to encourage flexibility to operationalize the coal mines, transparent bidding process, 100% Foreign Direct Investment (FDI) through automatic route and revenue sharing model based on the National Coal Index.

    In addition to the above, coal companies have also taken the following steps to increase domestic coal production:

    1. Coal India Limited (CIL) has adopted a number of measures to increase coal production. In its Underground (UG) mines, CIL is adopting Mass Production Technologies (MPT), mainly with Continuous Miners (CMs), wherever feasible. CIL has also planned Highwalls (HW) mines in view of the availability of Abandoned/ Discontinued mines. CIL is also planning large capacity UG mines wherever feasible. In its Opencast (OC) mines, CIL already has State-of-the- Art technology in its high-capacity Excavators, Dumpers and Surface Miners.
    2. Regular liaison is being undertaken by Singareni Collieries Company Limited (SCCL) for grounding of new projects and operation of existing projects. SCCL has initiated action for developing infrastructure for evacuation of coal like Coal Handling Plants (CHPs), Crushers, Mobile Crushers, Pre-weigh-bins etc.

    This information was given by Union Minister of Coal and Mines Shri G. Kishan Reddy in a written reply in Rajya Sabha today.

    ****

    Shuhaib T

    (Release ID: 2114310) Visitor Counter : 129

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: PARLIAMENT QUESTION: WATER SOURCES UNDER JJM

    Source: Government of India

    Since August, 2019, Government of India is implementing Jal Jeevan Mission (JJM) in partnership with States to make provision of potable tap water supply in adequate quantity, of prescribed quality and on regular & long-term basis to every rural household in the country.

    Water being a state subject, the responsibility of planning, approval, implementation, operation, and maintenance of drinking water supply schemes/ works, including those under the Jal Jeevan Mission, lies with State/UT Governments. The Government of India supports the States by providing technical and financial assistance.

    As reported by State Government of Andhra Pradesh, the details of the water sources utilized for water supply under the Jal Jeevan Mission (JJM), source type, State and district-wise in Andhra Pradesh, including those in Konaseema district, are at below.

    The number of tap connections receiving water supply from the above-mentioned sources in Konaseema district, water source-wise, are as under:

    Name of the District

    No.of Tap connections receiving water

    Ground Water Based

    Surface Water Based

    Ground Water & Surface Water both

    Konaseema

    1,28,558

    84,856

    72,537

     

    The details of Ground Water levels in meters (Below Ground level) in Konaseema district during last 5 years is enclosed at below.

    As reported by Government of Andhra Pradesh, assessment of variation of water levels of 1524 Summer Storage tanks in the state and 42 Summer Storage tanks in Konaseema District, fed from canals is being carried out through a mobile application developed for capturing photo and Geotagging of Summer Storage tanks and the supply is planned accordingly.

    Also, assessment of variation in Ground water levels is being done as per the data received Ground Water department and the supply is planned accordingly.

    Ministry of Jal Shakti does not monitor water levels for JJM sources. However, development of reliable drinking water sources and/ or augmentation of existing sources to provide long-term sustainability of water supply system in villages, is an integral part of JJM. To achieve this objective, following provisions have been made in operational guidelines for the implementation of JJM:

    i.) Any water supply scheme undertaken under JJM is approved only after the recommendation of a Source Finding Committee of the respective state government, to the effect that the identified water source through which the scheme is planned, has sufficient yield for sustaining water supply as per required norm, for the scheme design period.

    ii.) Development/ strengthening/ augmentation of drinking water sources and infrastructure for bulk transfer of water, treatment, and distribution systems in water deficit drought-prone and desert areas without dependable ground water sources apart from creation of in-village water supply infrastructure.

    iii.) Strengthening of drinking water sources in convergence with other schemes such as MGNREGS, Finance Commission grants to rural local bodies/ PRIs, MP & MLA’s Local Area Development Fund, District Mineral Development Fund, CSR fund, etc.

    Besides, National Water Mission (NWM) has developed a guidance document titled “Simple and Practical Methods of Artificial Recharge of Groundwater Augmentation” in the form of FAQs to provide technical support. Information, Education, and Communication (IEC) activities have also been undertaken to spread awareness about the initiative. A monitoring and evaluation framework has also been established through the Jal Sanchay Dashboard, which tracks progress with geo-tagged locations of recharge structures. CWC and CGWB also provide technical assistance for the creation and renovation of recharge structures to improve groundwater augmentation efforts.

    In so far as Government of Andhra Pradesh is concerned, State has taken number of steps towards monitoring of drinking water sources viz. Geo-tagging of sources and summer tanks, tracking water levels of summer storage tanks, feeding from canals through mobile application  for capturing photo.

    Also, State is constructing Ground Water Recharge Structures under MGNREGS programme to rejuvenate/improve ground water levels in villages near JJM sources. All the summer storage tanks are filled well before the canal closure period to ensure uninterrupted water supply to Households during summer.

    This information was provided by THE MINISTER OF STATE FOR JAL SHAKTI SHRI V. SOMANNA in a written reply to a question in Lok Sabha today.

    ****

    List of Sources in the State of Andhra Pradesh

    Sr. No.

    Name of the District

    No. of Sources

    Ground Water based

    Surface Water based

    Total

    1

    Alluri Sitharama Raju

    7356

    627

    7983

    2

    Anakapalli

    2958

    64

    3022

    3

    ANANTAPUR

    3468

    186

    3654

    4

    Annamayya

    7458

    353

    7811

    5

    Bapatla

    828

    463

    1291

    6

    Chittoor

    7803

    45

    7848

    7

    East Godavari

    1356

    28

    1384

    8

    Eluru

    3599

    1358

    4957

    9

    Guntur

    755

    618

    1373

    10

    Kakinada

    1346

    259

    1605

    11

    Konaseema

    637

    157

    794

    12

    Krishna

    1320

    405

    1725

    13

    Kurnool

    1976

    260

    2236

    14

    Nandyal

    2707

    121

    2828

    15

    NELLORE

    5426

    716

    6142

    16

    NTR

    1522

    129

    1651

    17

    Palnadu

    2511

    625

    3136

    18

    Parvathipuram Manyam

    3253

    190

    3443

    19

    Prakasam

    3637

    334

    3971

    20

    Sri Sathya Sai

    4544

    177

    4721

    21

    Srikakulam

    5237

    373

    5610

    22

    Tirupati

    6859

    247

    7106

    23

    Visakhapatanam

    540

    56

    596

    24

    Vizianagaram

    2215

    656

    2871

    25

    West Godavari

    679

    507

    1186

    26

    Y.S.R

    5598

    424

    6022

    Total

    85,588

    9,378

    94,966

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: PARLIAMENT QUESTION: DRINKING WATER PROJECTS UNDER JJM

    Source: Government of India

    Posted On: 24 MAR 2025 12:15PM by PIB Delhi

    Since August, 2019, Government of India is implementing Jal Jeevan Mission (JJM) in partnership with States to make provision of potable tap water supply in adequate quantity, of prescribed quality and on regular & long-term basis to every rural household in the country.

    At the launch of Jal Jeevan Mission in August 2019, only 3.23 Crore (16.8%) rural households in the country were reported to have tap water connections. Since then, as reported by States/ UTs, around 12.29 Crore additional rural households have been provided with tap water connections under JJM, as on 16.03.2025. Thus, as on 16.03.2025, out of total 19.37 Crore rural households in the country, more than 15.52 Crore (80.19%) households have been provided tap water connections.

    Water is a state subject. The responsibility of planning, approval, implementation, operation, and maintenance (O&M) of drinking water supply schemes lies with State/UT Governments. The Government of India supports the States by providing technical and financial assistance.

    To address the challenges in JJM implementation holistically and overcome these, Government of India has taken a number of steps, inter alia including implementation of Special Assistance to States for Capital Expenditure through M/o Finance for financial assistance as 50-year interest free loan for capital investment projects; nomination of a nodal officer in the Department for coordinating with Central nodal Ministries/ Departments/ agencies to facilitate the States in obtaining Statutory/ other clearances, etc. so as to avoid any unnecessary delays in project implementation.

    Development of reliable drinking water sources and/ or augmentation of existing sources to provide long-term sustainability of water supply system in villages, is an integral part of JJM. To achieve this objective, following provisions have been made in operational guidelines for the implementation of JJM:

    1. Any water supply scheme undertaken under JJM is approved only after the recommendation of a Source Finding Committee of the respective state government, to the effect that the identified water source through which the scheme is planned, has sufficient yield for sustaining water supply as per required norm, for the scheme design period.
    2. Development/ strengthening/ augmentation of drinking water sources and infrastructure for bulk transfer of water, treatment, and distribution systems in water deficit drought-prone and desert areas without dependable ground water sources apart from creation of in-village water supply infrastructure.
    3. Strengthening of drinking water sources in convergence with other schemes such as MGNREGS, Finance Commission grants to rural local bodies/ PRIs, MP & MLA’s Local Area Development Fund, District Mineral Development Fund, CSR fund, etc.

    A special initiative Jal Sanchay Jan Bhagidari (JSJB) under Jal Shakti Abhiyan (JSA): Catch the rain (CTR) campaign has been launched on September 6, 2024, which aims to promote collaborative community-driven water conservation efforts and focuses on enhancing water management through low-cost, scientifically designed artificial recharge structures, ensuring active participation from local communities, industries, and other stakeholders.

    Under the JJM, as per existing guidelines, Bureau of Indian Standards’ BIS:10500 standards are adopted as benchmark for quality of water being supplied through the piped water supply schemes.

    As reported by States on JJM-IMIS, as on date, there are 314 Arsenic and 251 Fluoride affected rural habitations in the country and all these habitations have been provided with safe drinking water through CWPPs/ IHPs. Thus, all habitation in rural area of the country are provided safe drinking water free from Arsenic and Fluoride contamination. Since the inception of JJM, 13,706 Arsenic affected and 7,745 fluoride affected habitations have been reported to be covered with pipe water supply.

    A Handbook on Drinking Water Treatment Technologies was released in March 2023 to disseminate information regarding new technologies available amongst all stakeholders to improve the performance and implementation of drinking water treatment plants using technologies that address local issues and challenges faced in water-quality affected villages.  The States may take up appropriate water treatment system depending upon techno-economic feasibility.

    In consultation with various stakeholders, “Concise Handbook for Monitoring Water Quality of Piped Drinking Water Supply to Rural Households” has been issued for guidance to States/ UT in December 2024. The Handbook recommends water quality testing methodology such as identifying sample collection points, testing parameters, testing frequency and number of samples, sample turnaround time, and remedial action for contamination.

    In respect of urban areas, under Atal Mission for Rejuvenation and Urban Transformation (AMRUT) of M/o Housing and Urban Affairs (MoHUA), 4,734 MLD Water Treatment capacity have been created. Similarly, projects covering 10,674 water treatment capacity, have been approved under AMRUT 2.0, so far.

    This information was provided by THE MINISTER OF STATE FOR JAL SHAKTI SHRI V. SOMANNA in a written reply to a question in Lok Sabha today.

    ***

    DHANYA SANAL K

    (Lok Sabha US Q3367)

    (Release ID: 2114287) Visitor Counter : 65

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: PARLIAMENT QUESTION: CURRENT STATUS OF JAL JEEVAN MISSION

    Source: Government of India

    Posted On: 24 MAR 2025 12:13PM by PIB Delhi

    Since August 2019, Government of India in partnership with States is implementing Jal Jeevan Mission (JJM) – Har Ghar Jal to make provision of potable water to every rural household of the country, through functional tap water connection i.e. at a service level of 55 litre per capita per day (lpcd), of prescribed quality (BIS:10500), on regular and long-term basis.

    At the start the Mission, only 3.23 Crore (16.7%) rural households were reported to have tap water connections. So far, as reported by States/ UTs as on 17.03.2025, under Jal Jeevan Mission (JJM) – Har Ghar Jal around 12.30 Crore additional rural households have been provided with tap water connections. Thus, as on 17.03.2025, out of 19.36 Crore rural households in the country, more than 15.53 Crore (80.20%) households are reported to have tap water supply in their homes and works for the remaining 3.83 Crore households are at various stages of completion as per saturation plan of the respective State/ UT.

    The initial estimated outlay of the Mission was Rs. 3.60 lakh Crore, out of which Central share was Rs. 2.08 lakh Crore. Almost entire Central share approved by the Cabinet has been utilized. Further, Hon’ble Finance Minister during her budget speech 2025- 26 has announced extension of Jal Jeevan Mission until 2028 with an enhanced total outlay.

    Water being a State subject, the responsibility of planning, approval, implementation, operation, and maintenance of drinking water supply schemes, lies with State/ UT Governments. States/ UTs have been advised, through numerous review meetings, field visits, etc., to ensure functionality of tap water connections provided inter alia including quality of water supplied as per JJM standards (BIS:10500).

    In addition, up to 2% of the allocation to States/ UTs for Water Quality Monitoring and Surveillance (WQM&S) activities which inter-alia includes setting up of and upgrading existing water quality laboratories at various levels, providing chemicals and consumables to laboratories, procurement of equipment’s, instruments, chemicals/ reagents, glassware, consumables, procurement of Field Test Kits (FTKs)/ H2S vials for chemical (including chloride) and bacteriological water quality surveillance at grass root level and NABL accreditation/ recognition  of laboratories,  etc.

    States have been advised to conduct water quality tests using FTKs/ bacteriological vials for common parameters along with area specific parameters including Arsenic and Fluoride at Schools, anganwadis and Gram Panchayat (GP) level for early identification of water borne risks. State to identify and train 5 women from local community to conduct water quality tests using FTKs/ bacteriological vials at Gram Panchayat (GP) level.

    Moreover, States/ UTs have also been advised to undertake testing of water quality on a periodic basis and take remedial action wherever necessary, to ensure that the water supplied to households is of prescribed quality.

    Year-wise reported details of drinking water samples tested in labs and using FTKs by the States/ UTs in last year and current year (till 17.03.2025) are as under:

    Year

    No. of samples tested

    Total no. of Samples Tested

    in labs

    using FTKs

    2023-24

    75,00,041

    1,08,54,196

    1,83,54,237

    2024-25

    77,40,369

    90,52,382

    1,67,92,751

     

    This information was provided by THE MINISTER OF STATE FOR JAL SHAKTI SHRI V. SOMANNA in a written reply to a question in Lok Sabha today.

    ****

    DHANYA SANAL K

    (Lok Sabha US Q3287)

    (Release ID: 2114280) Visitor Counter : 93

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: PARLIAMENT QUESTION: QUALITY OF DRINKING WATER UNDER JJM IN RURAL HOUSEHOLDS IN TAMIL NADU

    Source: Government of India

    Posted On: 24 MAR 2025 12:13PM by PIB Delhi

    The Jal Jeevan Mission (JJM) – Har Ghar Jal, is being implemented since August, 2019, in partnership with States, to make provision of potable tap water supply in adequate quantity, of prescribed quality and on regular & long-term basis to rural households. The Government of India supports the States including Tamil Nadu by providing technical and financial assistance. Under the Jal Jeevan Mission, as per existing guidelines, Bureau of Indian Standards’ BIS:10500 standards are adopted as benchmark for quality of water being supplied through the piped water supply schemes. Drinking Water being a State subject, the responsibility of Planning, Approval, Implementation, Operation & Maintenance of drinking water supply schemes, including those under the Jal Jeevan Mission, is vested with State/UT Governments.

    As per the Operational Guidelines, States/ UTs including Tamil Nadu can utilize up to 2% of their annual allocation of funds under JJM for Water Quality Monitoring & Surveillance (WQM&S) activities, inter-alia, which includes setting up and strengthening of water quality testing laboratories, procurement of equipment, instruments, chemicals, glassware, consumables, hiring of skilled manpower, surveillance by community using field test kits (FTKs), awareness generation, educational programmes on water quality, accreditation/recognition of laboratories, etc. To enable States/ UTs to test water samples for water quality, and for sample collection, reporting, monitoring and surveillance of drinking water sources, an online JJM – Water Quality Management Information System (WQMIS) portal has been developed. The State–wise details of water quality test reported through WQMIS are available in public domain on JJM Dashboard and can also be accessed at: https://ejalshakti.gov.in/WQMIS/Main/report

    In order to empower the communities to monitor the water quality States/ UTs have also been advised to identify and train 5 persons, preferably women, in every village to conduct water quality testing using Field Testing Kits (FTKs) at village level and report the same on the WQMIS portal. So far, as reported by States/UTs on WQMIS, as on date, more than 24.81 lakh women (including 62,898 in Tamil Nadu) have been trained for testing water using FTKs.

    As reported by States/UTs, as on date, there are 2,182 drinking water quality testing laboratories (including 113 in Tamil Nadu) at different levels viz. State, district, sub-division and/ or block level in the country. To encourage water quality testing to ensure potable drinking water supply, States/ UTs have opened water quality testing laboratories to general public for testing of their water samples at a nominal rate.

    As reported by States on JJM-IMIS, since the inception of JJM, 13,706 Arsenic affected, and 7,745 fluoride affected habitations have been reported to be covered with piped water supply schemes as on date. Further, there are 314 Arsenic and 251 Fluoride affected rural habitations in the country where the piped water supply schemes compliant to JJM standards are yet to be commissioned. However, all these habitations (314 for Arsenic and 251 for Fluoride) have been provided with safe drinking water through CWPPs/ IHPs purely as an interim measure. Thus, all habitation in rural area of the country are provided safe drinking water free from Arsenic and Fluoride contamination.

    The World Health Organization (WHO) has done study on the potential benefits of the JJM, estimating that achieving its goals could save over 5.5 crore hours daily in rural areas, which are inter alia spent on collecting water, predominantly by women without the intervention of JJM. This time savings translates into economic benefits and an improved quality of life for rural families. Furthermore, the WHO has projected that providing safely managed drinking water to all households could prevent nearly 4,00,000 deaths from diarrheal diseases and 14 million Disability Adjusted Life Years (DALYs) averted during the mission period. Adding to this, Nobel laureate Prof. Michael Kremer’s research paper suggests that universal access to safe water could lead to a nearly 30% reduction in mortality among children under five years old, potentially saving 1,36,000 young lives each year.

    The allocation of JJM Funds has given a weightage of 30% for the stated under Desert Development Programme (DDP), Drought Prone Area Programme (DPAP), Hill Area Development Plan (HADP) and special category hill states in terms of rural areas.  The year-wise details of Central fund allocated, drawn and utilization reported by the State/ UTs under JJM since 2019-20 to 2024-25 (as on 17.03.2025) for making provision of safe drinking water through household tap water connection to rural households including in water stressed and drought-prone areas is at below.

    Jal Jeevan Mission: Central fund allocated, drawn and reported utilization in 2019-20 to 2024-25

    (Amount in Rs. Crore)

    FY

    Central Share

    State Share Expenditure

    Opening Balance

    Allocated Funds

    Released Amount

    Expenditure

    2019-20

    2,436.37

    11,139.21

    9,951.81

    5,983.49

    4090.79

    2020-21

    6,447.36

    23,033.02

    10,917.86

    12,544.51

    7,905.45

    2021-22

    4,825.92

    92,308.77

    40,009.77

    25,326.67

    18,226.18

    2022-23

    19,510.05

    1,00,789.77

    54,742.30

    50,667.81

    40,147.74

    2023-24

    23,584.58

    1,32,936.83

    69,885.01

    82,295.58

    69,219.37

    2024-25*

    11,180.11

    69,926.68#

    22,341.74

    27,333.70

    33,616.09

    *As on 17.03.2025      Source: JJM-IMIS   # restricted to utilization of Rs. 22,694 Cr. only

    Apart from this, RLBs/ PRIs have been allocated Rs. 2,36,805 Crore rupees under 15th Finance Commission out of which 60% tied grants amounting to Rs. 1,42,084 Crore is to be spent on 1) Drinking Water Supply and 2) Sanitation.

    This information was provided by THE MINISTER OF STATE FOR JAL SHAKTI SHRI V. SOMANNA in a written reply to a question in Lok Sabha today.

    ***

    DHANYA SANAL K

    (Lok Sabha US Q3238)

    (Release ID: 2114281) Visitor Counter : 82

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: PARLIAMENT QUESTION: SETTING UP OF PM MITRA PARKS

    Source: Government of India (2)

    Posted On: 24 MAR 2025 12:09PM by PIB Delhi

    With a view to develop integrated large scale and modern industrial infrastructure facility for the entire value-chain of the textile industry, the Government has approved setting up of 7 (Seven) PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks in Greenfield/Brownfield sites with a scheme outlay of Rs. 4,445 crore for the period 2021-22 to 2027-28. The Government has finalised 7 sites for setting up PM MITRA Parks, details of which are as follow:

    Sl. No.

    Name of Site

    Category

    1

    Virudhnagar, Tamil Nadu

    Greenfield

    2

    Navsari, Gujarat

    Greenfield

    3

    Kalaburagi, Karnataka

    Greenfield

    4

    Dhar, Madhya Pradesh

    Greenfield

    5

    Lucknow, Uttar Pradesh

    Greenfield

    6

    Warangal, Telangana

    Brownfield

    7

    Amravati, Maharashtra

    Brownfield

    Once completed, it is expected that each PM MITRA Park will generate 3 lakh (direct/indirect) employment opportunities across all elements of the textile value chain. 

    Investment MoUs worth Rs. 18,500 crores have been signed by potential investors with different states so far.  SPVs have been incorporated in all 5 Greenfield states with Govt. of India contribution of     Rs. 4.90 crore per park and State Government(s) contribution of Rs. 5.10 per park. Work order for             Rs. 111 cr. has been issued and work initiated for infrastructure provision inside PM MITRA Park, Amravati, Maharashtra.

    This information was provided by THE MINISTER OF STATE FOR TEXTILES SHRI PABITRA MARGHERITA in a written reply to a question in Rajya Sabha today.

    ***

    DHANYA SANAL K

     (Rajya Sabha US Q2551)

    (Release ID: 2114277) Visitor Counter : 63

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Speech by FS at Milken Institute Global Investors’ Symposium Hong Kong (English only)

    Source: Hong Kong Government special administrative region

    Speech by FS at Milken Institute Global Investors’ Symposium Hong Kong (English only) 
    Laura (Executive Vice President of Milken Institute International, Ms Laura Deal Lacey), Robin (Chair of Asia, Milken Institute, Mr Robin Hu), distinguished guests, ladies and gentlemen,
     
    Good afternoon. I am delighted to join you once again for the Milken Institute Global Investors’ Symposium. Allow me first to express my sincere appreciation to the Milken Institute for bringing this exceptional platform back to Hong Kong for its second edition.
     
    Today, we welcome over 400 senior executives from a diverse array of industries and markets worldwide. The theme for the Symposium this year, “Connecting Global Markets: Partnerships for Resilience”, is particularly timely. In today’s complex global landscape, brimming with challenges and uncertainties, it is clear that we can build resilience and achieve mutual growth only by strengthening connections, forming partnerships and enhancing collaboration. And Hong Kong, as an international financial centre, is uniquely positioned to catalyse this endeavour.
     
    Hong Kong: a resilient city
     
    To begin with, allow me to share with you the remarkable resilience of Hong Kong’s economy and financial markets.
     
    Over the past year, despite external headwinds, Hong Kong’s economy continued to grow steadily, expanding by 2.5 per cent. Inflation remained low at 1.1 per cent. The latest unemployment rate is at 3.2 per cent.
     
    International confidence in our financial markets has evidently strengthened. Last year, bank deposits in Hong Kong rose by 7 per cent, i.e. about US$140 billion. Driven by investments by institutional investors seeking to rebalance their investment portfolio, as well as market enthusiasm ignited by recent tech breakthroughs led by DeepSeek and others, the Hang Seng Index has surged some 20 per cent within a span of three months. This was on top of the increase of 18 per cent in 2024. The average daily turnover of our stock market rose to over US$28 billion in the first two months of this year, a remarkable 70 per cent increase from that of last year.
     
    Our IPO (initial public offerings) market also made a comeback, raising some US$11 billion last year and ranking fourth globally. Now, more than 100 companies are in the pipeline for listing. This year, we are expecting to raise some US$17 to $20 billion.
     
    Just last week, Hong Kong again ranked third in the Global Financial Centres Index, with overall scores catching up to that of the champion New York. In particular, we ranked first globally in “investment management”, “insurance” and “finance”. In fintech, we leapt by five places to fourth in the world.
     
    Besides, Hong Kong was once again ranked as the freest economy in the world, and the fifth most competitive economy. We stay firm as a free port, open to business, and committed to supporting the rules-based multilateral trading system.
     
    Last year, the number of regional headquarters, regional offices and local offices operated by Mainland and overseas companies rose by nearly 10 per cent, reaching an all-time high to around 10 000.
     
    2024 was also a great year for inbound tourism, with visitor arrivals rebounded to 45 million, rising by 30 per cent year-on-year. The surge of visitors highlighted Hong Kong’s charm as a top-notch business and tourism destination.
     
    Beyond numbers, Hong Kong remains an open, vibrant and diverse city. This month marks our “Super March” – with an impressive array of world-class events: from the artistic vibrancy of Art Basel and the spectacular LIV Golf, to the electrifying Hong Kong Sevens and the innovation-driven ComplexCon. Alongside these events, we have global business gatherings such as the Wealth for Good Summit and, of course, this Symposium. These events celebrate and showcase Hong Kong as an international meeting point for finance, culture, sports, creativity and fun! I hope you all can stay a bit longer – until this Sunday – to enjoy these happenings.
     
    Overall, the Hong Kong economy is marching forward steadily with renewed momentum. Let me tell you why.
     
    New Frontiers in Finance
     
    First, we are implementing reforms to strengthen the vitality and competitiveness of our financial markets. Fund-raising is an important function of any IFC (international financial centre), and Hong Kong offers a full range of funding options, from angel investment to private equity to IPOs. We continue to review our listing regime, enhance product offerings and attract more quality issuers and new capital. The goal is clear: to create a more dynamic and attractive capital market that provides diversified opportunities for investors.
     
    Another key area is asset and wealth management. Hong Kong remains one of the world’s prime wealth management centres, managing approximately US$4 trillion in assets. The number of family offices in our city has gone beyond 2 700, with half of them managing assets exceeding US$50 million. By 2028, Hong Kong is anticipated to become the world’s largest cross-boundary wealth management centre. This year, we seek to further enhance the tax concessions for funds and single family offices.
     
    And insurance, too. Hong Kong has the highest insurance density in Asia. The gross premiums of insurers continue to grow, rising by 12 per cent and reaching US$62 billion in the first three quarters last year. What’s more, the Greater Bay Area offers tremendous business opportunities for insurers operating in Hong Kong.
     
    New Markets and New Capital
     
    Second, we are also opening up new markets and new capital channels. Many economies in the Global South have young populations, expanding middle classes and growing investment needs for ambitious infrastructure projects, digitalisation and green transition plans. While Hong Kong continues to treasure and reinforce the relationship with traditional partners in Europe and the Americas, we are forging closer partnerships with emerging economies.
     
    For example, last October we listed two ETFs (exchange-traded funds) tracking Hong Kong stocks on the Saudi Arabia Stock Exchange. We are collaborating with stock exchanges across ASEAN (Association of Southeast Asian Nations) and the Gulf Region to encourage more quality companies to pursue dual primary or secondary listing in this city.
     
    We believe there is also room to work with emerging economies on more cross-boundary, market connectivity arrangements akin to the Connect Schemes that we have established with the Mainland.
     
    The collaboration between Hong Kong and new markets extends well beyond finance. The tech prowess of Hong Kong and the GBA (Guangdong-Hong Kong-Macao Greater Bay Area) as a whole as well as startups are highly valued around the world. We endeavour to connect them with partners in the emerging economies to foster industry partnership.
     
    To support the matching of capital and projects, we will host the inaugural Hong Kong Global Financial and Industry Summit in June. The event will bring together hundreds of global enterprises, tech firms and funds to drive industrial collaboration through financial empowerment.
     
    And we are strategically placed to help Mainland companies go global. Many Mainland enterprises are realigning their industrial and supply chains across the Global South. They need project and trade financing, corporate treasury services as well as professional consultancy. Hong Kong is ready to offer all that – from global capital and talent, world-class professional services to extensive international connections.
     
    Tech innovation driven by AI (artificial intelligence)
     
    The third of our new economic impetus is innovation and technology, driven by AI in particular.
     
    The rapid development of AI is reshaping the global economic landscape. AI+, which emphasises the deep integration of AI across different industries, is transforming traditional production, businesses and consumption models, very much redefining the core competitiveness of economies worldwide.
     
    In the Government’s Budget delivered a few weeks ago, I outlined the vision for Hong Kong to establish AI as a core industry and to empower the transformation of traditional sectors. Hong Kong has all it takes to thrive on this front.
     
    A unique advantage of Hong Kong is that we serve as a convergence point of both Mainland and international data and talent. Coupled with strong research capabilities of five of our world’s leading universities, we have a strong foundation for cutting-edge AI research and applications. A case in point is the area of life science, where the integration of AI is particularly promising, as it enhances drug design, accelerates clinical trials, and improves patient outcomes through personalised medicine. 
     
    Hong Kong’s ambitions for innovation and technology are more hopeful with our deepening collaboration with the sister’s cities in the GBA, one of the world’s leading innovation ecosystems. The Northern Metropolis, bordering Shenzhen, will serve as the bridgehead for this collaboration. Home to a 300-hectare I&T cluster, it covers the “Loop”, or “Hetao”, where we will experiment with innovative policies that facilitate the safe and orderly flow of people, capital, goods, data and even bio samples with Shenzhen.
     
    To realise these ambitions, we are actively attracting strategic enterprises in four industries to set foot in Hong Kong. They are AI and data science, life and health technology, fintech, advanced manufacturing and new energy. So far we have attracted more than 80 such enterprises, and together they would invest some US$60 billion in our city, creating some 20 000 jobs. 
     
    We also recognise the importance of patient capital. That is why we have established the Hong Kong Investment Corporation (HKIC), which actively guides strategic investments into companies in key sectors at their nascent stage. The HKIC has already invested in more than 90 projects and formed a number of strategic partnerships. For every dollar it invested, it has mobilised four dollars of private capital. Riding on this positive momentum, we are optimistic that Hong Kong will be able to achieve more advancements in the realms of innovation and technology.
     
    Concluding remarks
     
    Ladies and gentlemen, Hong Kong remains one of the world’s most open, dynamic and globally connected financial centres. Our strong fundamentals, resilient economy, unique role as a gateway to the Chinese Mainland and Asia, as well as our great stride to develop financial services and the tech sector, continue to provide unparalleled opportunities for global investors.
     
    May I wish you all the best of business and health in the years to come. Thank you.
    Issued at HKT 14:16

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Video: World TB Day:A Look Back at the Fight AgainstTuberculosis | United Nations

    Source: United Nations (Video News)

    Tuberculosis (TB) has long been one of the world’s deadliest infectious diseases, and the fight against it has been relentless. This video brings
    together historic archival footage from the UN Audiovisual Library, featuring
    Hollywood actors in UN radio broadcasts and 16mm films from global TB
    testing and vaccination campaigns of the 1950s and 1960s.
    See the tireless efforts of organizations like the World Health Organization
    (WHO) and the UN Children’s Fund (UNICEF).
    Since 2000, global initiatives have saved an estimated 79 million lives, yet
    TB remains a major health threat, with 1.25 million fatalities in 2023. UNICEF
    has played a crucial role in tackling TB among children and adolescents, working alongside WHO and other global partners.
    This year’s World Tuberculosis Day theme, “Yes! We Can End TB: Commit, Invest, Deliver,” highlights the urgent need for global collaboration, increased investment, and high-quality care to eliminate TB. As we mark World TB Day 2025, this video serves as a powerful reminder of how far we’ve come — and the work that still lies ahead.
    Learn more about tuberculosis symptoms, prevention, treatment, and global efforts to end TB. Join the movement to eliminate TB worldwide! (who.int).
    #WorldTBDay #EndTB #Tuberculosis #TBHistory #GlobalHealth #WHO
    #UNICEF #UnitedNations
    #PublicHealth #TBPrevention
    #InfectiousDiseases #TBEradication
    #HealthForAll

    https://www.youtube.com/watch?v=APteekrB8Lw

    MIL OSI Video

  • MIL-OSI United Nations: The G20 prioritises strengthening disaster resilience in 2025

    Source: UNISDR Disaster Risk Reduction

    Marking its third year as a regular fixture in one of the world’s top economic forums, the first meeting of the Group of Twenty (G20) Disaster Risk Reduction Working Group, under the South African Presidency took place on 5 March. 

    In recognition of the role of disaster risk reduction in reducing growing disaster losses, the President of South Africa, Mr. Cyril Ramaphosa, declared at both the launch of South Africa’s Presidency in December 2024, as well as at the first G20 Finance Minister’s meeting in February 2025, that “our first priority is to take action to strengthen disaster resilience and response”. 

    This sense of urgency was echoed by the Minister of Cooperative Governance and Traditional Affairs (COGTA), Mr. Velenkosini Hlabisa, who officially opened the inaugural meeting of the Disaster Risk Reduction Working Group by stating that “disasters know no borders” and that efforts to prevent and mitigate them require “Solidarity and Global Cooperation”. 

    This is a core theme for the Working Group this year in line with the Presidency’s key pillars of “Solidarity, Equality, and Sustainability.” Minister Hlabisa also highlighted how this is a historic G20 as it is the first to be held on the African continent: “South Africa will bring the G20 to Africa and Africa to the G20”.

    Opening remarks were also provided by Mr Kamal Kishore, Special Representative of the UN Secretary-General for Disaster Risk Reduction and the Head of the United Nations Office for Disaster Risk Reduction (UNDRR), who thanked South Africa for entrusting UNDRR with the role of Secretariat for the Working Group. 

    Mr. Kishore also underscored how disasters are “becoming a larger threat to economic prosperity” while at the same time, “economic development that is not guided by an understanding of disaster risks can inadvertently lead to more disasters.”

    During the meeting, the South African Presidency presented their priorities and work plan for the year, as explained in their Issue Note. This was followed by the opening of the discussion for inputs and reflections from Member States and invited states and organisations, who were represented by 236 participants, reflecting a high turn for the inaugural meeting

    The meeting set a strong foundation for the work to come over the year, which will culminate with a ministerial-level meeting in October in South Africa. Until then, the next Working Group meeting is planned to take place in eThekwini Metropolitan Municipality on 8-11 April. 

    MIL OSI United Nations News

  • MIL-OSI: Intermediate Capital Group plc: Notification of Major Holdings (Correction)

    Source: GlobeNewswire (MIL-OSI)

    Intermediate Capital Group plc

    24 March 2025

    Notification of Major Holdings (Correction)

    On 20 March 2025, it was announced that JPMorgan Chase & Co. had notified Intermediate Capital Group plc (the “Company”) that its holding had increased above the minimum threshold for notification.

    JPMorgan Chase & Co. subsequently notified the Company on 21 March 2025 that the last notification it provided to the Company had been retracted.

    Accordingly, the TR1 notification published on 20 March 2025 should be disregarded and shareholders should instead refer to the TR1 notification published on 20 November 2024.

    Analyst / Investor enquiries:

    Chris Hunt
    Shareholder Relations, ICG
    +44 (0) 20 3545 2020

    Andrew Lewis
    Company Secretary, ICG
    +44 (0) 20 3545 1344

    The MIL Network

  • MIL-OSI: XploraDEX Aims to Transform How Liquidity Works on The XRP Ledger – $XPL Token Presale Now Open!

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, March 24, 2025 (GLOBE NEWSWIRE) — In a major leap for DeFi on the XRP Ledger, XploraDEX is introducing AI-powered liquidity automation, a game-changing solution designed to help traders, market makers, and liquidity providers unlock seamless trade execution with minimal slippage.

    The decentralized exchange, built natively on XRPL, is the first to deploy smart liquidity routing algorithms that automatically rebalance pools and adapt to volatile market conditions in real-time. Whether you’re trading large volumes or executing rapid-fire swaps, XploraDEX keeps liquidity deep, trading costs low, and profits maximized.

    And now, the gateway to this innovation, the $XPL Token is available to early adopters through its live presale Round.

    [GET XPL TOKENS NOW]

    The Problem: Fragmented Liquidity and Manual Management

    Traders on most DEX platforms face a frustrating set of problems:

    • Slippage on large trades due to low liquidity in pools
    • Delayed execution during market spikes
    • Poor capital efficiency for liquidity providers
    • Manual rebalancing and pool management

    XploraDEX solves these challenges with its self-adjusting liquidity system powered by AI.

    The XploraDEX Solution: Autonomous Liquidity Optimization

    By combining real-time blockchain data with AI-powered decision-making, XploraDEX introduces the following features:

    Smart Liquidity Routing – AI identifies the best paths across liquidity pools to ensure minimal slippage and optimized rates.

    Dynamic Pool Rebalancing – Liquidity shifts as needed based on trading patterns, demand, and volatility.

    Liquidity Farming Automation – Optimize yield generation through AI-managed staking strategies.

    Market Resilience – AI protects pools from becoming illiquid during periods of extreme volatility.

    This makes XploraDEX ideal for both active traders and passive liquidity providers looking to maximize efficiency and returns.

    BUY $XPL ON PRESALE

    The Role of $XPL Token

    The $XPL token plays a critical role in powering and governing this ecosystem:

    Access to AI Liquidity Tools and premium automation features

    Reduced Fees for traders and LPs using $XPL

    Staking & Reward Distribution from liquidity mining

    Voting Rights on pool incentives, AI strategy updates, and protocol improvements

    Holding $XPL = accessing the future of intelligent liquidity management on XRPL.

    $XPL Presale Is Live – Secure Your Position Early

    With XRPL growing rapidly as a hub for DeFi activity, XploraDEX is set to become the default platform for optimized, AI-managed liquidity solutions.

    Investors who join the presale now can:

    Buy $XPL token at discounted early-stage pricing: https://sale.xploradex.io

    Access exclusive LP and staking pools at launch

    Participate in community governance and platform direction.

    Don’t Miss Your Chance to Be Part of This Innovation

    Whether you’re a trader tired of slippage or a yield farmer looking to automate your strategy, XploraDEX is the intelligent solution DeFi on XRPL has been waiting for. And with the $XPL presale live now, early adopters can be first in line for everything this AI-powered platform has to offer.

    Secure your $XPL Tokens today: https://sale.xploradex.io

    AI + Liquidity = Smarter Trading. Welcome to XploraDEX.

    Stay connected and Join the XploraDEX AI Revolution

    Website | $XPL Token Presale | X | Telegram

    Contact:
    Oliver Muller
    oliver@xploradex.io
    contact@xploradex.io

    Disclaimer: This press release is provided by the XploraDEX. 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.

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    The MIL Network

  • MIL-OSI United Kingdom: Television personality Ant Middleton banned as company director over unpaid taxes

    Source: United Kingdom – Executive Government & Departments

    Press release

    Television personality Ant Middleton banned as company director over unpaid taxes

    His company owed more than £1 million in corporation tax and VAT when it went into liquidation

    • Television personality and adventurer Ant Middleton has been banned as a director after his Sway and Starting Limited company failed to pay more than £1 million in tax 

    • In the same period, more than £4.5 million was paid into the company’s accounts, indicating it had enough income to pay the tax it owed in full 

    • His wife, Emilie Middleton, has also been disqualified as a company director for four years following investigations by the Insolvency Service 

    • The pair ended up owing their company almost £3 million at the time of liquidation due to an overdrawn director’s loan account 

    Television personality Ant Middleton has been banned as a director after his company failed to pay more than £1 million in tax. 

    The former SAS: Who Dares Wins chief instructor was the director of Sway and Starting Limited along with his wife, Emilie Middleton. The company, which was described as offering media representation services, was set up to manage income from his television and media work. 

    But both the directors failed to ensure the company paid more than £300,000 in VAT and over £800,000 in corporation tax between 2019 and 2022. 

    This was despite more than £4.5 million being paid into the company’s accounts from 2020 to 2022. 

    The pair had also taken out almost £3 million from the company in the form of a director’s loan account by the time the company went into liquidation in December 2022.  

    Ant Middleton later agreed to repay £300,000 of the director’s loan as a full and final settlement with the liquidator. 

    The Middletons, both 44 and with correspondence addresses in Chelmsford, Essex, have been banned as company directors for four years. 

    Dave Magrath, Director of Investigation and Enforcement Services at the Insolvency Service, said: 

    Companies not paying the tax they should deprives the government of the money it needs to pay for the country’s defence services, our NHS, schools and universities, and transport systems. 

    Ant and Emilie Middleton had legal and financial duties as directors to ensure their company paid the corporation tax and VAT it owed. Instead, they were taking millions of pounds out of the company at that time. 

    This disqualification should serve as a deterrent to other directors that if you do not pay your taxes while directing money elsewhere, you are at risk of being banned.

    Ant Middleton formed Sway and Starting in September 2014, with his wife becoming a director of the company in May 2019. 

    The company, previously known as Middleton Global Limited, failed to pay any of the £869,351 in corporation tax it owed between September 2019 and March 2021. 

    Sway and Starting also only paid £267,443 in VAT out of a total of £651,961 it owed between March 2020 and September 2022, leaving £384,518 unpaid. 

    Insolvency Service analysis of the company’s bank accounts showed that £4,592,200 was paid into the company between April 2020 and November 2022. 

    By the time of the company’s liquidation, the pair also owed Sway and Starting at least £2,961,745 through their director’s loan account. 

    The Secretary of State for Business and Trade accepted disqualification undertakings from Ant and Emilie Middleton, and their bans started on Monday 24 March and Wednesday 19 March respectively. 

    It prevents them from being involved in the promotion, formation or management of a company, without the permission of the court. 

    Further information

    Updates to this page

    Published 24 March 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Women leaders gather in Leeds to help unlock SME business growth

    Source: United Kingdom – Executive Government & Departments

    Press release

    Women leaders gather in Leeds to help unlock SME business growth

    Female entrepreneurs, senior industry representatives and local leaders came together at the UKEF ‘Northern Women in Business’ reception in Leeds.

    Laura Murray, HSBC UK; Roxanne Goodman, Female Founder Finance; Helen Gibson MBE; Heba Bevan, Utterberry; Marie Hall, UKEF. Credit: Neil Spence.

    • Hosted by UK Export Finance, the event focused on breaking down barriers for women in business and encouraging more women-led businesses to take up international trade opportunities.

    • UKEF’s financing support for small businesses was worth over £570 million last year, while an independent review estimates around a quarter of a trillion pounds could be added to the UK economy if women received more business investment opportunities.

    Over 100 female entrepreneurs, banking representatives and government officials came together last night to celebrate the success of British businesswomen and to explore ways of reducing financial barriers for women-led firms seeking to grow their operations and export.

    Hosted at The Studio in Leeds by government department UK Export Finance (UKEF), the event welcomed speakers from prominent groups Female Founder Finance and the Invest in Women Taskforce.

    UKEF is a government department which helps businesses to export by offering financing guarantees and insurance – support which helps companies to fill their order-books, invest in growth and create wealth.

    In the 2023-24 financial year, UKEF’s backing for businesses contributed £3.3 billion to the UK economy and supported up to 41,000 jobs across the country. The department has set an objective to support more women-led businesses as part of its business plan. 

    While this is good news for firms across the country, according to the Rose Review, £250 billion could be added to the UK economy if women matched men in receiving business investment.

    Gareth Thomas, Minister for Exports, said: 

    One of the priorities for this government is to break down barriers that women in business face, which includes access to finance.

    UK Export Finance is working alongside the broker Female Founder Finance to ensure its suite of services reach more female business owners so they can secure new investment opportunities and grow their operations.

    UKEF recently signed a partnership with Female Founder Finance. Together, they will streamline the process for referring eligible businesses into one another’s financing programmes, therefore reducing missed opportunities for women owners.

    Roxanne Goodman, Founder of Female Founder Finance, added:

    The UKEF and Female Founder Finance partnership is a game-changer for women-led businesses looking to scale globally. Events like this reception are crucial for connecting female founders with the trade finance solutions they need to seize international opportunities.

    By breaking down barriers to funding, we’re empowering more women to succeed in international trade.

    UKEF’s support for women-led businesses complements the government’s priorities for economic growth and breaking down barriers for businesses across the UK as part of its Plan for Change.  

    The event comes after the Chancellor’s backing for the Invest in Women Taskforce – which aims to create one of the world’s largest investment funding pools for female founders – as part of this government’s mission to grow the economy.

    Contact

    Media enquiries:

    Updates to this page

    Published 24 March 2025

    MIL OSI United Kingdom

  • MIL-OSI Europe: REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) 2018/1806 as regards the revision of the suspension mechanism – A10-0035/2025

    Source: European Parliament

    DRAFT EUROPEAN PARLIAMENT LEGISLATIVE RESOLUTION

    on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) 2018/1806 as regards the revision of the suspension mechanism

    (COM(2023)0642 – C9‑0392/2023 – 2023/0371(COD))

    (Ordinary legislative procedure: first reading)

    The European Parliament,

     having regard to the Commission proposal to Parliament and the Council (COM(2023)0642),

     having regard to Article 294(2) and Article 77(2), point (a), of the Treaty on the Functioning of the European Union, pursuant to which the Commission submitted the proposal to Parliament (C9‑0392/2023),

     having regard to Article 294(3) of the Treaty on the Functioning of the European Union,

     having regard to Rule 60 of its Rules of Procedure,

     having regard to the report of the Committee on Civil Liberties, Justice and Home Affairs (A10-0035/2025),

    1. Adopts its position at first reading hereinafter set out;

    2. Calls on the Commission to refer the matter to Parliament again if it replaces, substantially amends or intends to substantially amend its proposal;

    3. Instructs its President to forward its position to the Council, the Commission and the national parliaments.

     

    Amendment  1

    Proposal for a regulation

    Recital 1 a (new)

     

    Text proposed by the Commission

    Amendment

     

    (1a) Visa-free travel brings significant benefits to the Union and third countries alike. Economic, social and cultural relations with third countries create prosperity and establish the Union as an open and free bloc. The Union’s common visa policy, in that regard, is a cornerstone of its engagement with third countries. At the same time, the evolving geopolitical context has brought new challenges linked to visa-free travel. Abuse of, and security risks resulting from, visa-free travel to the Union require a swift and adequate response. It is imperative that the Union be equipped to deal with those challenges accordingly.

    Amendment  2

    Proposal for a regulation

    Recital 2

     

    Text proposed by the Commission

    Amendment

    (2) The mechanism for the temporary suspension of the exemption from the visa requirement for the nationals of a third country listed in Annex II to Regulation (EU) 2018/1806 (‘the suspension mechanism’) should be strengthened for the Union to have at its disposal a more efficient safeguard aimed at preventing a wider range of irregular migration, public policy and security risks arising from the third countries listed in that Annex II, as well as the abuse of the visa exemption through the operation of investor citizenship schemes by those third countries.

    (2) In order to address the new challenges linked to visa-free travel, the mechanism for the temporary suspension of the exemption from the visa requirement for the nationals of a third country listed in Annex II to Regulation (EU) 2018/1806 (‘the suspension mechanism’) should be strengthened for the Union to have at its disposal a more efficient safeguard aimed at preventing a wider range of risks arising from the third countries listed in that Annex II, as well as the abuse of the visa exemption through the operation of investor citizenship schemes by those third countries.

    Amendment  3

    Proposal for a regulation

    Recital 3

     

    Text proposed by the Commission

    Amendment

    (3) In particular, the use of the suspension mechanism should be facilitated by broadening the possible grounds for suspension, adapting the relevant thresholds and procedures, and strengthening the Commission’s monitoring and reporting obligations.

    (3) In particular, the use of the suspension mechanism should be facilitated by broadening the possible grounds for suspension, making the relevant procedures more precise and strengthening the Commission’s monitoring and reporting obligations. Furthermore, the Commission should assess the overall impact of visa suspensions, including on reciprocity.

    Amendment  4

    Proposal for a regulation

    Recital 4

     

    Text proposed by the Commission

    Amendment

    (4) The Union has concluded a number of agreements on the short-stay visa waiver with countries listed in Annex II to Regulation (EU) 2018/1806 which may include different grounds for suspension or different procedures than the ones set out in the suspension mechanism, and may conclude further of those agreements in the future. As the Union respects international agreements and, thus, is bound by these agreements, the relevant different provisions set out in those agreements should be applied instead of the relevant provisions of the suspension mechanism.

    (4) The Union has concluded a number of agreements on the short-stay visa waiver with countries listed in Annex II to Regulation (EU) 2018/1806 which may include different grounds for suspension or different procedures than the ones set out in the suspension mechanism. It should be possible for the Union to suspend the visa-free regime established by those agreements by means of a generally applicable legal act of the Union. For that reason, the relevant grounds for suspension set out in those agreements should be included in the suspension mechanism. However, the use of the grounds for suspension set out in a short-stay visa waiver agreement should be limited to the scope of application of that agreement.

    Amendment  5

    Proposal for a regulation

    Recital 5

     

    Text proposed by the Commission

    Amendment

    (5) In its conclusions of 22 October 2021, the European Council invited the Commission to propose any necessary changes to the Union’s legal framework and concrete measures to ensure an immediate and appropriate response to hybrid threats in line with Union law and international obligations. Therefore, it should be possible to trigger the suspension mechanism in case of risks or threats to the public policy or internal security of the Member States arising from hybrid threats such as situations of state-sponsored instrumentalisation of migrants aimed at destabilising or undermining society and key institutions.

    (5) Due to a need to ensure an immediate and appropriate response to hybrid threats in line with Union law and international obligations, it should be possible to trigger the suspension mechanism in case of risks or threats to the public policy or internal security of the Member States arising from hybrid threats such as situations of state-sponsored instrumentalisation of migrants, as referred to in Regulation (EU) 2024/1359, which aim to destabilise or undermine society and key institutions.

    Amendment  6

    Proposal for a regulation

    Recital 6

     

    Text proposed by the Commission

    Amendment

    (6) Investor citizenship schemes operated by third countries listed in Annex II to Regulation (EU) 2018/1806 allow visa-free travel to the Union to third-country nationals that would otherwise be visa required. Under an investor citizenship scheme, citizenship is granted in return for pre-determined payments or investments without any genuine link to the third country concerned. While the Union respects the right of sovereign countries to decide on their own naturalisation procedures, visa-free third countries should be deterred from using visa-free access to the Union as a tool for leveraging individual investment in return for their citizenship. To prevent visa-free access to the Union being used for this purpose, it should be possible to suspend the visa exemption for a third country which chooses to operate such investor citizenship schemes, whereby citizenship is granted without any genuine link to the third country concerned.

    (6) Investor citizenship schemes operated by third countries listed in Annex II to Regulation (EU) 2018/1806 allow visa-free travel to the Union to third-country nationals that would otherwise be visa required. Under an investor citizenship scheme, citizenship is granted in return for pre-determined payments or investments without any genuine link to the third country concerned. While the Union respects the right of sovereign countries to decide on their own naturalisation procedures, visa-free third countries should be deterred from using visa-free access to the Union as a tool for leveraging individual investment in return for their citizenship. In addition, a lack of comprehensive security checks, vetting procedures and due diligence by such third countries with regard to investor citizenship schemes pose several serious security risks for Union citizens, such as those stemming from money laundering and corruption. To prevent visa-free access to the Union being used for this purpose, it should be possible to suspend the visa exemption for a third country which chooses to operate such investor citizenship schemes, whereby citizenship is granted without any genuine link to the third country concerned.

    Amendment  7

    Proposal for a regulation

    Recital 7

     

    Text proposed by the Commission

    Amendment

    (7) Where the visa policy of a third country listed in Annex II to Regulation (EU) 2018/1806 is not aligned with the visa policy of the Union as regards the list of third countries whose nationals are required to be in possession of a visa when crossing the external borders of the Member States, this could result in irregular migration to the Union, in particular where the concerned third country is in close geographic proximity to the Union. Therefore, it should be possible to trigger the suspension mechanism where, following an assessment, the Commission concludes that there is a risk of a substantial increase in the number of third-country nationals, other than nationals of that third country, who arrive legally in the territory of that third country and then irregularly enter the territory of the Member States.

    (7) Where the visa policy of a third country listed in Annex II to Regulation (EU) 2018/1806 is not aligned with the visa policy of the Union as regards the list of third countries whose nationals are required to be in possession of a visa when crossing the external borders of the Member States, this could result in irregular migration to the Union, in particular where the concerned third country is in close geographic proximity to the Union. Therefore, it should be possible to trigger the suspension mechanism where, following an assessment, the Commission concludes that there is a substantial increase in the number of third-country nationals, other than nationals of that third country, who arrive legally in the territory of that third country and then irregularly enter the territory of the Member States.

    Amendment  8

    Proposal for a regulation

    Recital 7 a (new)

     

    Text proposed by the Commission

    Amendment

     

    (7a) Refusing or failing to process readmission applications could include cases of a third country failing to assist, in a timely manner, in identifying third country nationals for whom a Member State has submitted readmission applications to that third country or otherwise creating persisting practical obstacles regarding the enforcement of readmission decisions.

    Amendment  9

    Proposal for a regulation

    Recital 8

     

    Text proposed by the Commission

    Amendment

    (8) The thresholds to trigger the suspension mechanism in case of a substantial increase in the number of nationals of a third country refused entry or found to be staying in the Member State’s territory without a right to do so, or in the number of asylum applications from the nationals of that third country for which the recognition rate is low, or in the number of serious criminal offences linked to the nationals of that third country, should be subject to a case-by-case assessment by the Commission. In particular, the Commission should be able to assess whether there are specific circumstances, in the cases notified by Member States or under its own analysis, which would justify the application of lower or higher thresholds than those indicated in relevant provisions of Regulation (EU) 2018/1806. The Commission’s assessment should take into account, for example, the number of unauthorised crossings of the external borders of the Member States, unfounded asylum applications or criminal offences in proportion to the number and size of Member States affected and the impact of those numbers on the overall migratory situation, functioning of the asylum systems or internal security of the Member States affected, as well as actions taken by the third country concerned to remedy the situation.

    (8) The thresholds to trigger the suspension mechanism in case of a substantial increase in the number of nationals of a third country refused entry or found to be staying in the Member State’s territory without a right to do so, or in the number of asylum applications from the nationals of that third country for which the recognition rate is low, should be clearly set out in order to avoid diverging interpretations and the risk of inconsistent practices. In particular, the Commission should assess whether there are specific circumstances, in the cases notified by Member States or under its own analysis, which would justify the application of the relevant provisions of Regulation (EU) 2018/1806. Additionally, taking into account the impact that a suspension of the exemption from the visa requirement might have on relations with the third country concerned and on the rights of its nationals, the Commission should thoroughly assess the necessity, proportionality and consequences of such a suspension before adopting the relevant act.

    Amendment  10

    Proposal for a regulation

    Recital 8 a (new)

     

    Text proposed by the Commission

    Amendment

     

    (8a) For the purpose of determining whether a recognition rate of asylum application is low, it is important that the Commission carry out a case-by-case assessment, taking into account the latest available yearly Union-wide average Eurostat data, the way in which relevant Union law on asylum is being implemented, and the specific circumstances of the third country concerned.

    Amendment  11

    Proposal for a regulation

    Recital 8 b (new)

     

    Text proposed by the Commission

    Amendment

     

    (8b) It should be possible to trigger the suspension mechanism in the event of serious breaches by a third country of the principles set out in the Charter of the United Nations or in the event of grave violations of the obligations deriving from international human rights law or international humanitarian law, violations of bilateral agreements between the Union and that third country, non-compliance or non-alignment with relevant Union sanctions, or hostile acts towards the Union or Member States which aim to destabilise or undermine society and key institutions for the public policy and internal security of the Member states and the Union. Such hostile acts could result from foreign interference in political processes, economic coercion, cyber operations, economic espionage or the sabotage of critical infrastructure.

    Amendment  12

    Proposal for a regulation

    Recital 8 c (new)

     

    Text proposed by the Commission

    Amendment

     

    (8c) Where the Commission considers suspending an exemption from the visa requirement on its own accord or following a notification by a Member State, the Commission should take into account, in its evaluation, the impact of the proposed suspension on the principles of visa reciprocity and non-discrimination and whether the proposed suspension represents an appropriate measure to remedy the situation. Special attention should be given to civil society, in particular where the human rights situation in the third country concerned has deteriorated.

    Amendment  13

    Proposal for a regulation

    Recital 9

     

    Text proposed by the Commission

    Amendment

    (9) For the purpose of notifying to the Commission the circumstances that may amount to a ground for suspension, Member States should be able to take into account reference periods longer than two months in order to identify not only sudden changes in the relevant situation, but also longer-term trends that may justify the use of the visa suspension mechanism.

    (9) For the purpose of notifying to the Commission the circumstances that may amount to a ground for suspension, Member States should take into account reference periods between two and twelve months in order to identify sudden changes in the relevant situation that may justify the use of the visa suspension mechanism. The suspension mechanism should only be triggered where the reasons for relying on the relevant ground are sufficient and clear. The Commission should fully and immediately inform the European Parliament and the Council of notifications it receives and decisions it takes as a result.

    Amendment  14

    Proposal for a regulation

    Recital 10

     

    Text proposed by the Commission

    Amendment

    (10) Whenever it considers it necessary, or upon request by the European Parliament or by the Council, the Commission should report on the outcome of its systematic monitoring of the visa-free regimes with all the third countries listed in Annex II to Regulation (EU) 2018/1806. The report should focus on those third countries which, according to the Commission’s analysis, present specific problems that, if not addressed, may lead to trigger the suspension mechanism. In particular, the Commission should consider reporting on countries which have been newly listed in Annex II without undergoing a visa liberalisation dialogue, where it considers it necessary and in particular in the first years following the entry into force of the visa exemption for those countries.

    (10) Whenever it considers it necessary, or upon request by the European Parliament or by the Council, the Commission should report on the outcome of its systematic monitoring of the visa-free regimes with all the third countries listed in Annex II to Regulation (EU) 2018/1806. The report should focus on those third countries which, according to the Commission’s analysis, present specific problems that, if not addressed, may lead to trigger the suspension mechanism. In particular, the Commission should report on countries which have been newly listed in Annex II without undergoing a visa liberalisation dialogue, where it considers it necessary and in particular in the first years following the entry into force of the visa exemption for those countries.

    Amendment  15

    Proposal for a regulation

    Recital 10 a (new)

     

    Text proposed by the Commission

    Amendment

     

    (10a) In light of the far-reaching consequences that the temporary suspension of an exemption from the visa requirement might have on the nationals of the third country concerned, the Commission should favour a targeted approach, applying the suspension first and foremost to selected individuals holding positions of responsibility, such as members of that third country’s official delegations, members of local, regional and national governments, members of parliaments or high-ranking public or military officials, while making every effort to minimise the adverse consequences on the general population of that third country. The Commission should continuously monitor whether the triggering of the suspension mechanism has achieved the intended result and regularly report thereon to the European Parliament and to the Council.

    Amendment  16

    Proposal for a regulation

    Recital 11

     

    Text proposed by the Commission

    Amendment

    (11) Where a decision to temporarily suspend the visa exemption for a third country has been taken, there should be an adequate timeframe for the enhanced dialogue between the Commission and the concerned third country aimed at remedying the circumstances that led to the suspension. For this purpose, the duration of the temporary suspension decided by a Commission implementing act should be 12 months in a first phase, with a possibility to extend it by a further 24 months with a delegated act in a second phase. Where no solution is found before the end of the period of validity of the delegated act and the Commission presents a legislative proposal to transfer the concerned third country from Annex II to Annex I of Regulation (EU) 2018/1806, the Commission should adopt a delegated act extending the temporary suspension until the entry into force of the adopted proposal.

    (11) Where a decision to temporarily suspend the visa exemption for a third country has been taken, there should be an adequate timeframe for the enhanced dialogue between the Commission and the concerned third country aimed at remedying the circumstances that led to the suspension. For this purpose, the duration of the temporary suspension decided by a Commission implementing act should be 12 months in a first phase, with a possibility to extend it by a further 24 months with a delegated act in a second phase. Where no solution is found before the end of the period of validity of the delegated act and the Commission presents a legislative proposal to transfer the concerned third country from Annex II to Annex I of Regulation (EU) 2018/1806, the Commission should adopt a delegated act extending the temporary suspension for a further six months or until the entry into force of the adopted proposal, whichever comes first.

    Amendment  17

    Proposal for a regulation

    Recital 12

     

    Text proposed by the Commission

    Amendment

    (12) The Commission should adopt immediately applicable implementing acts where, in duly justified cases related to the triggering of the suspension mechanism, imperative grounds of urgency require expedited action, in particular to prevent any abuse of visa-free travel causing a mass influx of third-country nationals arriving irregularly in the territory of the Member States or a serious damage to the public policy or internal security of Member States.

    (12) The Commission should adopt immediately applicable implementing acts where, in duly justified cases related to the triggering of the suspension mechanism, a serious threat to public policy or internal security of a Member State requires immediate action, in particular to prevent any abuse of visa-free travel causing a mass influx of third-country nationals arriving irregularly in the territory of the Member States or a serious damage to the public policy or internal security of Member States.

    Amendment  18

    Proposal for a regulation

    Recital 13

     

    Text proposed by the Commission

    Amendment

    (13) The temporary suspension should be lifted at any time where the circumstances that led to the suspension are remedied before the end of the period of the suspension. To this end, the Commission should adopt, respectively, an implementing act before the end of the period of suspension set out in the relevant implementing act, and a delegated act before the end of the period of suspension set out in the relevant delegated act.

    (13) The temporary suspension should be lifted at any time where the circumstances that led to the suspension are remedied before the end of the period of the suspension or where the suspension turns out to be ineffective for the purpose of remedying the situation. To this end, the Commission should adopt, respectively, an implementing act before the end of the period of suspension set out in the relevant implementing act, and a delegated act before the end of the period of suspension set out in the relevant delegated act.

    Amendment  19

    Proposal for a regulation

    Recital 14

     

    Text proposed by the Commission

    Amendment

    (14) As regards Iceland and Norway, this Regulation constitutes a development of the provisions of the Schengen acquis within the meaning of the Agreement concluded by the Council of the European Union and the Republic of Iceland and the Kingdom of Norway concerning the latters’ association with the implementation, application and development of the Schengen acquis, which fall within the area referred to in Article 1, points B, of Council Decision 1999/437/EC23.

    (14) As regards Iceland and Norway, this Regulation constitutes a development of the provisions of the Schengen acquis within the meaning of the Agreement concluded by the Council of the European Union and the Republic of Iceland and the Kingdom of Norway concerning the latters’ association with the implementation, application and development of the Schengen acquis, which fall within the area referred to in Article 1, points B and C, of Council Decision 1999/437/EC23.

    __________________

    __________________

    23 Council Decision 1999/437/EC of 17 May 1999 on certain arrangements for the application of the Agreement concluded by the Council of the European Union and the Republic of Iceland and the Kingdom of Norway concerning the association of those two States with the implementation, application and development of the Schengen acquis (OJ L 176, 10.7.1999, p. 31).

    23 Council Decision 1999/437/EC of 17 May 1999 on certain arrangements for the application of the Agreement concluded by the Council of the European Union and the Republic of Iceland and the Kingdom of Norway concerning the association of those two States with the implementation, application and development of the Schengen acquis (OJ L 176, 10.7.1999, p. 31).

    Amendment  20

    Proposal for a regulation

    Article 1 – paragraph 1 – point -1 (new)

    Regulation (EU) 2018/1806

    Article 7 – paragraph 1 – subparagraph 1 – point d

     

    Present text

    Amendment

     

    (-1) In Article 7 point (d) is replaced by the following:

    (d) the Commission shall, when considering further steps in accordance with point (e), (f) or (h), take into account the outcome of the measures taken by the Member State concerned with a view to ensuring visa-free travel with the third country in question, the steps taken in accordance with point (b), and the consequences of the suspension of the exemption from the visa requirement for the external relations of the Union and its Member States with the third country in question;

    “(d) the Commission shall, when considering further steps in accordance with point (e) or (h), take into account the outcome of the measures taken by the Member State concerned with a view to ensuring visa-free travel with the third country in question, the steps taken in accordance with point (b), and the consequences of the suspension of the exemption from the visa requirement for the external relations of the Union and its Member States with the third country in question;”

    Amendment  21

    Proposal for a regulation

    Article 1 – paragraph 1 – point 1

    Regulation (EU) 2018/1806

    Article 8 – paragraph 2

     

    Text proposed by the Commission

    Amendment

    2. In cases where an agreement on the short-stay visa waiver between the Union and a third country listed in Annex II includes provisions on different grounds or procedures for suspension, those provisions shall be applied instead of Articles 8a, 8e and 8f of this Regulation.

    2. In cases where an agreement on the short-stay visa waiver between the Union and a third country listed in Annex II has been concluded, Articles 8a, 8e and 8f of this Regulation shall apply without prejudice to the relevant provisions on grounds for suspension and procedures set out in the agreement.

    Amendment  22

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8a – paragraph 1 – introductory part

     

    Text proposed by the Commission

    Amendment

    The suspension mechanism may be triggered on the following grounds:

    The suspension mechanism may be triggered by any of the following grounds:

    Amendment  23

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8a – paragraph 1 – point d – point i

     

    Text proposed by the Commission

    Amendment

    (i) a substantial increase in serious criminal offences, linked to the nationals of that third country, substantiated by objective, concrete and relevant information and data provided by the competent authorities;

    (i) a substantial increase in serious criminal offences, linked to the nationals of that third country, substantiated by objective, concrete and relevant information and data provided by the competent authorities; or

    Amendment  24

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8a – paragraph 1 – point f

     

    Text proposed by the Commission

    Amendment

    (f) the non-alignment of the visa policy of a third country listed in Annex II, where, in particular because of the geographic proximity of that third country to the Union, there is a risk of a substantial increase in the number of third-country nationals, other than nationals of that third country, who enter irregularly the territory of the Member States after having stayed on, or transited through, the territory of that third country;

    (f) the non-alignment of the visa policy of a third country listed in Annex II, where, in particular because of the geographic proximity of that third country to the Union, there is a substantial increase in the number of third-country nationals, other than nationals of that third country, who enter irregularly the territory of the Member States after having stayed on, or transited through, the territory of that third country;

    Amendment  25

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8a – paragraph 1 – point g a (new)

     

    Text proposed by the Commission

    Amendment

     

    (ga) a deterioration in the Union’s external relations with a third country listed in Annex II caused by:

     

    (i) serious breaches by that third country of the principles set out in the Charter of the United Nations;

     

    (ii) grave violations by that third country of the obligations deriving from international human rights law or international humanitarian law;

     

    (iii) violations by that third country of bilateral agreements between it and the Union;

     

    (iv) that third country carrying out hostile acts against the Union or Member States with the aim of destabilising or undermining society or institutions which are key for the public policy and internal security of the Union or the Member States;

     

    (v) non-compliance or non-alignment by that third country with relevant Union sanctions.

    Amendment  26

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8a – paragraph 2

     

    Text proposed by the Commission

    Amendment

    2. For the purposes of paragraph 1, points (a), (b) and (d)(i), of this Article a substantial increase shall mean an increase exceeding a threshold of 50%, unless the Commission in accordance with Article 8b(4) or Article 8c(2) concludes that a lower or higher increase is applicable in the particular case.

    2. For the purposes of paragraph 1, points (a), (b) and (d)(i), and paragraph 4 of this Article a substantial increase shall mean an increase exceeding a threshold of 40 %, unless the Commission in accordance with Article 8b(4) or Article 8c(2) concludes that a lower or higher increase is applicable in the particular case. The Commission shall duly justify any such conclusion.

    Amendment  27

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8a – paragraph 3

     

    Text proposed by the Commission

    Amendment

    3. For the purposes of paragraph 1, point (b), of this Article a low recognition rate shall mean a recognition rate of asylum applications of less than 4%, unless the Commission in accordance with Article 8b(4) or Article 8c(2) concludes that a higher recognition rate is applicable in the particular case.

    deleted

    Amendment  28

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8a – paragraph 4

     

    Text proposed by the Commission

    Amendment

    4. For the purposes of paragraph 1, point (c), a decrease in cooperation on readmission with a third country listed in Annex II shall mean a substantial increase, substantiated by adequate data, in the refusal rate of readmission applications submitted by a Member State to that third country for its own nationals or, where a readmission agreement concluded between the Union or that Member State and that third country so provides, for third-country nationals having transited through that third country.

    4. For the purposes of paragraph 1, point (c), a decrease in cooperation on readmission with a third country listed in Annex II shall mean a substantial increase, substantiated by adequate data, in the refusal rate of readmission applications submitted by a Member State to that third country for its own nationals, or, where a readmission agreement concluded between the Union or that Member State and that third country so provides, for third-country nationals having transited through that third country, provided that it can be duly justified that the decrease in cooperation is the result of the action or inaction of that third country and is not attributable to the Member State that submitted the readmission applications.

    Amendment  29

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8a – paragraph 5 – point a

     

    Text proposed by the Commission

    Amendment

    (a) refusing or failing to process readmission applications in due time;

    (a) refusing or failing to process readmission applications;

    Amendment  30

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8a – paragraph 5 – point b

     

    Text proposed by the Commission

    Amendment

    (b) failing to issue travel documents in due time for the purposes of returning within the deadlines set out in the readmission agreement or refusing to accept European travel documents issued following the expiry of the deadlines set out in the readmission agreement;

    (b) failing to issue travel documents to its own nationals or persons recognised by the third country as having a right of residence in its territory for the purposes of returning within the deadlines set out in the readmission agreement or refusing to accept European travel documents issued following the expiry of the deadlines set out in the readmission agreement;

    Amendment  31

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8b – paragraph 1

     

    Text proposed by the Commission

    Amendment

    1. A Member State may notify the Commission if it is confronted, over a period of at least two months, compared with either the same period in the preceding year or the last two months prior to the implementation of the exemption from the visa requirement for nationals of a third country listed in Annex II, with one or more of the circumstances amounting to the grounds for suspension referred to in Article 8a(1), points (a), (b), (c), and (d)(i).

    1. A Member State may notify the Commission if it is confronted, over a period between two and twelve months, compared with either the same period in the preceding year or the last two months prior to the implementation of the exemption from the visa requirement for nationals of a third country listed in Annex II, with one or more of the circumstances amounting to the grounds for suspension referred to in Article 8a(1), points (a), (b), (c), and (d)(i).

    Amendment  32

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8b – paragraph 1 a (new)

     

    Text proposed by the Commission

    Amendment

     

    1a. A Member State may notify the Commission of the existence of any of the grounds for suspension referred to in Article 8a(1), points (d)(ii), (e), (f), (g) and (ga).

    Amendment  33

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8b – paragraph 2

     

    Text proposed by the Commission

    Amendment

    2. The notification referred to in paragraph 1 of this Article shall state the reasons on which it is based and shall include relevant data and statistics as well as a detailed explanation of the preliminary measures that the Member State concerned has taken with a view to remedying the situation. In its notification, the Member State concerned may specify the categories of nationals of the third country concerned which are to be covered by an implementing act under Article 8e(1), specifying the detailed reasons for doing so.

    2. The notification referred to in paragraphs 1 and 1a of this Article shall state the reasons on which it is based. Where relevant, that notification shall include relevant data and statistics as well as a detailed explanation of the preliminary measures that the Member State concerned has taken with a view to remedying the situation. In its notification, the Member State concerned may specify the categories of nationals of the third country concerned which are to be covered by an implementing act under Article 8e(1), specifying the detailed reasons for doing so.

    Amendment  34

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8b – paragraph 4 – introductory part

     

    Text proposed by the Commission

    Amendment

    4. The Commission shall examine any notification made pursuant to paragraph 1 of this Article, taking into account:

    4. The Commission shall examine any notification made pursuant to paragraphs 1 and 1a of this Article, taking into account:

    Amendment  35

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8b – paragraph 4 – point a

     

    Text proposed by the Commission

    Amendment

    (a) whether any of the circumstances amounting to the grounds referred to in Article 8a(1), points (a), (b), (c), or (d)(i) exist;

    (a) whether any of the circumstances amounting to the grounds referred to in Article 8a(1) exist;

    Amendment  36

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8b – paragraph 4 a (new)

     

    Text proposed by the Commission

    Amendment

     

    4a. As part of its examination pursuant to paragraph 4, the Commission shall also assess the necessity, proportionality and consequences of a suspension of the exemption from the visa requirement.

    Amendment  37

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8c – paragraph 2

     

    Text proposed by the Commission

    Amendment

    2. Where the Commission, taking into account the relevant data, reports and statistics, has concrete and reliable information on the existence of any of the grounds referred to in Article 8a(1) it shall inform the European Parliament and the Council of its analysis, and Article 8e and Article 8f shall apply.

    2. Where the Commission, taking into account the relevant data, reports and statistics, including data, reports and statistics from any relevant Union institution, body, office or agency, and after having carried out an assessment as referred to in Article 8b(4a), has concrete and reliable information on the existence of any of the grounds referred to in Article 8a(1) it shall inform the European Parliament and the Council of its analysis, and Article 8e and Article 8f shall apply.

    Amendment  38

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8d – paragraph 1

     

    Text proposed by the Commission

    Amendment

    1. The Commission shall report to the European Parliament and to the Council on the monitoring conducted in accordance with Article 8c(1) with regard to the third countries which have been listed in Annex II as a result of the successful conclusion of a visa liberalisation dialogue conducted between the Union and that third country, at least once a year and for a period of seven years after the date of entry into force of visa liberalisation for those third countries, and thereafter whenever the Commission considers it to be necessary, or upon request by the European Parliament or by the Council. The report shall focus on the third countries which the Commission considers, based on concrete and reliable information, as no longer complying with certain specific requirements, which are based on Article 1 and which were used to assess the appropriateness of granting visa liberalisation.

    1. The Commission shall periodically report to the European Parliament and to the Council on the monitoring conducted in accordance with Article 8c(1) with regard to the third countries which have been listed in Annex II, ensuring that each of those third countries is reported on at least once within a four-year period.

     

    1a. The Commission shall report on an annual basis for a period of seven years after the date of entry into force of visa liberalisation for those third countries which have been listed as a result of the successful conclusion of a visa liberalisation dialogue conducted between the Union and that third country.

     

    1b. Whenever the Commission considers it necessary, it shall report on the third countries which it considers, based on concrete and reliable information, as no longer complying with certain specific requirements, which are based on Article 1 and which were used to assess the appropriateness of granting visa liberalisation.

    Amendment  39

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8e – paragraph 1 – subparagraph 1

     

    Text proposed by the Commission

    Amendment

    Where, on the basis of the examination referred to in Article 8b(4), or the analysis referred to in Article 8c(2), and taking into account the consequences of a suspension of the exemption from the visa requirement for the overall external relations of the Union and its Member States with the third country concerned, while working in close cooperation with that third country to find alternative long-term solutions, the Commission decides that action is needed, or where a simple majority of Member States have notified the Commission of the existence of circumstances referred to in Article 8a(1), points (a), (b), (c) or (d)(i), the Commission shall adopt an implementing act temporarily suspending the exemption from the visa requirement for the nationals of the third country concerned for a period of 12 months.

    Where, on the basis of the examination referred to in Article 8b(4), or the analysis referred to in Article 8c(2), and taking into account the consequences of a suspension of the exemption from the visa requirement for the overall external relations of the Union and its Member States with the third country concerned, while working in close cooperation with that third country to find alternative long-term solutions, the Commission decides that action is needed, or where a simple majority of Member States have notified the Commission of the existence of circumstances referred to in Article 8a(1), points (a), (b), (c) or (d), the Commission shall adopt an implementing act temporarily suspending the exemption from the visa requirement for the nationals of the third country concerned for a period of 12 months.

    Amendment  40

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8e – paragraph 1 – subparagraph 1 a (new)

     

    Text proposed by the Commission

    Amendment

     

    Notwithstanding Article 6(1), point (a), where the Commission has adopted an implementing act under this paragraph which temporarily suspends the exemption from the visa requirement for nationals of the third country concerned who hold diplomatic passports, service/official passports or special passports, the Member States shall not provide for exceptions therefrom.

    Amendment  41

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8e – paragraph 1 – subparagraph 3 – point c

     

    Text proposed by the Commission

    Amendment

    (c) receiving the notification from a simple majority of Member States of the existence of grounds referred to in Article 8a(1), points (a), (b), (c) or (d)(i).

    (c) receiving the notification from a simple majority of Member States of the existence of grounds referred to in Article 8a(1), points (a), (b), (c) or (d).

    Amendment  42

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8e – paragraph 2

     

    Text proposed by the Commission

    Amendment

    2. On duly justified imperative grounds of urgency, the Commission shall adopt immediately applicable implementing acts in accordance with the procedure referred to in Article 11(4), temporarily suspending the exemption from the visa requirement for the nationals of the third country concerned for a period of 12 months.

    2. On duly justified imperative grounds of urgency, where a significant risk or imminent threat to public policy or internal security of a Member State as set out in Article 8a(1), point (d), requires immediate action, the Commission may adopt immediately applicable implementing acts in accordance with the procedure referred to in Article 11(4), temporarily suspending the exemption from the visa requirement for the nationals of the third country concerned for a maximum period of 12 months.

    Amendment  43

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8e – paragraph 2 – subparagraph 1 a (new)

     

    Text proposed by the Commission

    Amendment

     

    In cases as referred to in the first subparagraph, the Commission shall comprehensively and consistently inform the European Parliament and the Council throughout the procedure.

    Amendment  44

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8e – paragraph 3

     

    Text proposed by the Commission

    Amendment

    3. During the period of suspension, the Commission shall establish an enhanced dialogue with the third country concerned with a view to remedying the circumstances in question.

    3. During the period of suspension, the Commission shall establish an enhanced dialogue with the third country concerned with a view to remedying the circumstances in question and shall regularly report to the European Parliament and to the Council on the progress and outcome of the dialogue and on the effectiveness of the suspension.

    Amendment  45

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8f – paragraph 1 a new

     

    Text proposed by the Commission

    Amendment

     

    1a. The delegated act referred to in paragraph 1 shall be accompanied by a report to the European Parliament and to the Council detailing the outcome of the enhanced dialogue with the third country concerned, the measures adopted by that third country and by the Member States concerned, and the reasons for considering that the circumstances leading to the temporary suspension have not been remedied. 

    Amendment  46

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8f – paragraph 1 b new

     

    Text proposed by the Commission

    Amendment

     

    1b. Notwithstanding Article 6(1), point (a), where the Commission has adopted a delegated act under paragraph 1 of this Article the Member States shall not provide for exemptions as regards nationals of the third country concerned who hold diplomatic passports, service/official passports or special passports.

    Amendment  47

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8f – paragraph 2

     

    Text proposed by the Commission

    Amendment

    2. Without prejudice to the application of Article 6, during the period of suspension, the nationals of the third country concerned shall be required to be in possession of a visa when crossing the external borders of the Member States.

    2. Without prejudice to the application of Article 6 and paragraph 1b of this Article, during the period of suspension, the nationals of the third country concerned shall be required to be in possession of a visa when crossing the external borders of the Member States.

    Amendment  48

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8f – paragraph 3

     

    Text proposed by the Commission

    Amendment

    3. A Member State which, in accordance with Article 6, provides for new exemptions from the visa requirement for a category of nationals of the third country covered by the act suspending the exemption from the visa requirement shall communicate those measures in accordance with Article 12.

    3. A Member State which, in accordance with Article 6(1), points (b) to (f), Article 6(2) or Article 6(3), provides for new exemptions from the visa requirement for a category of nationals of the third country covered by the act suspending the exemption from the visa requirement shall communicate those measures in accordance with Article 12.

    Amendment  49

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8f – paragraph 4 – subparagraph 1

     

    Text proposed by the Commission

    Amendment

    Before the end of the period of validity of the delegated act adopted pursuant to paragraph 1 of this Article, the Commission shall submit a report to the European Parliament and to the Council.

    Before the end of the period of validity of the delegated act adopted pursuant to paragraph 1 of this Article, the Commission shall submit a report to the European Parliament and to the Council on the temporary application of the visa suspension, on the dialogue between the Commission and the third country concerned and on the measures taken to remedy the circumstances having led to the temporary suspension of the visa exemption.

    Amendment  50

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8f – paragraph 4 – subparagraph 2

     

    Text proposed by the Commission

    Amendment

    The report may be accompanied by a legislative proposal to amend this Regulation in order to transfer the reference to the third country concerned from Annex II to Annex I. In that case, the Commission shall adopt a further delegated act in accordance with Article 10, amending Annex II to extend the period of suspension of the exemption from the visa requirement from the end of the period of validity of the delegated act adopted pursuant to paragraph 1 of this Article until the entry into force of the amendment transferring the third country concerned to Annex I. The footnote shall be amended accordingly.

    The report may be accompanied by a legislative proposal to amend this Regulation in order to transfer the reference to the third country concerned from Annex II to Annex I. In that case, the Commission shall adopt a further delegated act in accordance with Article 10, amending Annex II to extend the period of suspension of the exemption from the visa requirement set by the delegated act adopted pursuant to paragraph 1 of this Article by a period of six months or until the entry into force of the amendment transferring the third country concerned to Annex I, whichever comes first. The footnote shall be amended accordingly.

    Amendment  51

    Proposal for a regulation

    Article 1 – paragraph 1 – point 2

    Regulation (EU) 2018/1806

    Article 8f a (new)

     

    Text proposed by the Commission

    Amendment

     

    Article 8fa

     

    Suspension of the possibility to provide for exceptions from the visa requirement as regards countries listed in Annex I

     

    1. In the event of a deterioration in the Union’s external relations of the kind referred to in Article 8a(1), point (ga), of this Regulation with a third country listed in Annex I to this Regulation[, and provided that that deterioration is of a significant and abrupt nature], or following the adoption of an implementing decision pursuant to Article 25a(5) of Regulation (EC) No 810/2009, the Commission may adopt an implementing act to suspend any exceptions from the visa requirement provided for by Member States pursuant to Article 6(1) of this Regulation as regards holders of diplomatic passports, service/official passports or special passports.

     

    2. The Commission shall continuously assess whether it is possible to achieve a substantial and sustained improvement in the Union’s external relations with the third country concerned or in the level of cooperation of the third country concerned as regards the readmission of irregular migrants. On the basis of that assessment, the Commission may adopt an implementing act to repeal or amend the implementing act referred to in the first paragraph.

     

    3. The implementing acts referred in paragraphs 1 and 2 of this Article shall be adopted in accordance with the examination procedure referred to in Article 11(2).

    EXPLANATORY STATEMENT

    1. Background

     

    One of the basic pillars of the EU visa policy is the Regulation (EU) 2018/1806 of the European Parliament and of the Council listing the third countries whose nationals must be in possession of visas when crossing the external borders of the Member States and those whose nationals are exempt from that requirement for stays of no more than 90 days in any 180-day period.

     

    It determines the basic principles for granting visa liberalisation, sets the so-called “positive” or visa exempt third countries and “negative” or visa required third countries lists, and it provides for safeguards when visa free regime could be suspended via two basic mechanisms, namely the reciprocity mechanism and the suspension mechanism, as well as the procedures for their triggering.

     

    Following the calls from both co-legislators on the need to revise the suspension mechanism in order to be more adapt to the emerging challenges, the European Commission presented in October 2023 targeted proposal for the revision of the suspension mechanism with the aim to strengthen and improve several elements of it. The proposed revision concerns the revision of Article 8 and includes several substantive amendments related to the possible grounds for suspension as well as to the procedures.

     

    This suspension mechanism was first introduced in 2013[1] with the main purpose to enable a temporary suspension of the visa exemption in case of a sudden and substantial increase in irregular migration. The mechanism was subsequently revised in 2017[2] by making it easier for Member States to notify circumstances leading to a possible suspension and by enabling the Commission to trigger the suspension mechanism on its own initiative.

     

    2. The proposed amendments to the suspension mechanism

     

    In its latest proposal, the Commission makes several changes to the current mechanism. New suspension ground are proposed related to hybrid threats such as situations of state-sponsored instrumentalisation of migrants aimed at destabilising or undermining society and key institutions, as well as new grounds specifically addressing investor citizenship schemes, which are currently operated by number of visa exempt third countries.

     

    A new suspension ground is also added to cover cases where the lack of visa policy alignment of a third country listed in Annex II with the visa policy of the Union, could lead to situations where third-country nationals, other than nationals of that third country, arrive legally in the territory of that third country and then enter irregularly the territory of the Member States.

     

    Also new with this proposal is the possibility for the Commission to consider different thresholds when deciding whether to suspend a visa exemption in cases of a substantial increase in irregular migration, unfounded asylum applications or serious criminal offences linked to the nationals of that third country, following a case-by-case assessment.

     

    The proposal also makes changes to the procedure and conditions for a Member State’s notification to the Commission when it is confronted by one or more circumstances amounting to a ground for suspension, and the procedure for the Commission’s examination of such a notification. It also modifies the reference period for identifying the existence of the circumstances which may lead to the suspension.

     

    The Commission will also have the obligation to monitor on a regular basis the existence of the grounds for suspension with regard to all third countries listed in Annex II, and the procedure to trigger the suspension mechanism based on the Commission’s own analysis of the existence of such grounds.

     

    This procedure is further amended by increasing the duration of the temporary suspension of the visa exemption from nine months to 12 months (for the first phase) and from 18 months to 24 months (for the second phase), as well as a new urgency procedure is introduced when the situation requires immediate action by the Commission.

     

    3. Position of the Rapporteur

     

    The expansion of the visa-free travel to several new third countries in recent years, as well as constantly new emerging challenges and crisis occurring around the world, the Rapporteur considers that the European Union needs effective and sufficient tools to respond to such challenges, including in the area of visa policy.

     

    The Rapporteur in that respect therefore largely supports the aim of the Commission and the need to strengthen and improve the visa suspension mechanism. It is worth noting that since its introduction in 2013, the suspension mechanism has only been triggered once. Namely in the case of Vanuatu due to EU’s concerns of its operation of investor citizenship schemes, for which a partial suspension has been adopted by the Council in March 2022, following by a full suspension in October of 2022, which is still in place.

     

    Due to ever changing world and evolution of the EU policies as well as the visa free regime, the Rapporteur believes that the revision of the suspension mechanism ought to look at the EU visa policy holistically considering all aspects.

     

    The Rapporteur therefore believes that there is an inherent gap between the conditions for the exemption from EU visa requirements, which are based on a case-by-case assessment of a variety of criteria, and the grounds allowing for the suspension from the said exemption. The Rapporteur considers as well that a discrepancy exists particular in relation to the Union’s external relations with the relevant third countries, including considerations of human rights and fundamental freedoms.

     

    In that regard, the Rapporteur is of the opinion that grounds for suspension of visa free regime with a third country must include considerations relating to Union’s or in certain cases Member States’ external relations with the relevant third country.

     

    Those grounds for suspension should include, among others: a) breaches or suspension of bilateral and multilateral agreements between the European Union or the European Union and its Member States, on the one hand, and the relevant third countries, on the other; b) serious breaches of international law and standards, including international humanitarian law, by the relevant third country, including non-compliance with the international court decisions and rulings; c) hostile acts or aggression against one or more Member States or the Union by the relevant third country; d) serious human rights violations, including criminalisation of abortion, LGBTQ+ persons, as well as the introduction or the use of death penalty by the relevant third country; and e) the non-compliance with the relevant EU sanctions.

     

    The Rapporteur also believes that the regular evaluation is needed of the continue fulfilment of the basic grounds for third countries benefiting from visa liberalisation which was not a result of the successful conclusion of a visa liberalisation dialogue. In that respect, the Rapporteur supports the Commission’s proposal as regards the monitoring the existence of the grounds for suspension for all third countries, however their consideration must undoubtedly include considerations relating to Union’s or in certain cases Member States’ external relations with the relevant third country.

     

    Since the current parliamentary term is quickly coming to an end, the Rapporteur wishes to quickly proceed with the adoption of the European Parliament’s negotiating mandate in order to secure a progressive text which should be reflected also in the EU visa policy going forward.

     

    MIL OSI Europe News

  • MIL-OSI: CLEAR, an Official TSA PreCheck® Enrollment Provider, Expands Enrollment and Renewal Options by Opening New Locations

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 24, 2025 (GLOBE NEWSWIRE) — CLEAR (NYSE: YOU), an official TSA PreCheck® enrollment provider, continues to expand locations to enroll and renew consumers in the Trusted Traveler program by opening five new locations.

    CLEAR now has 58 TSA PreCheck enrollment locations open across the U.S. The launch of the enrollment location at these five airports represent the ongoing expansion of CLEAR’s national TSA PreCheck enrollment footprint. Throughout 2025, CLEAR will continue delivering convenience to consumers by launching additional locations and extended hours of operation for enrollment and renewals.

    The five new airport locations include:

    • Sarasota Bradenton International Airport (SRQ)
    • Baltimore/Washington International Thurgood Marshall Airport (BWI)
    • Gerald R. Ford International Airport (GRR)
    • Phoenix Sky Harbor International Airport (PHX)
    • Portland International Airport (PDX)

    “TSA PreCheck through CLEAR provides a fast and efficient airport experience,” said CLEAR CEO Caryn Seidman Becker. “This is a win-win for U.S. travelers who will have access to more enrollment locations, expanded hours and other benefits.”

    TSA PreCheck members benefit from the convenience of keeping shoes, belts and light jackets on through the airport security checkpoint, and keeping laptops and 3-1-1 compliant liquids in carry-on bags. Members typically get through security screening much faster, with about 99% of members waiting less than 10 minutes at airport checkpoints nationwide.

    New TSA PreCheck applicants can pre-enroll or find an enrollment location by visiting the authorized CLEAR’s authorized TSA PreCheck website, https://tsaprecheckbyclear.tsa.dhs.gov/. Most existing TSA PreCheck members can renew directly on the website, regardless of the provider they enrolled with originally.

    A list of CLEAR enrollment locations for TSA PreCheck is included below, and on the CLEAR, TSA PreCheck website: https://tsaprecheckbyclear.tsa.dhs.gov/locations.

    CLEAR offers in-person TSA PreCheck enrollments and renewals at:

    • LaGuardia Airport (LGA) from Sunday through Friday from 6 a.m. ET to 8 p.m ET and Saturday from 6 a.m. ET to 6 p.m. ET
    • Salt Lake City International Airport (SLC) from 6 a.m. MT to 8 p.m. MT daily
    • Seattle-Tacoma International Airport (SEA) from 6 a.m. PT to 8 p.m. PT daily
    • Orlando International Airport (MCO) from 6 a.m. ET to 8 p.m. ET daily
    • Sacramento International Airport (SMF) from Sunday through Friday from 6 a.m. PT to 8 p.m. PT and Saturday from 6 a.m. PT to 6 p.m. PT
    • Newark Liberty International Airport (EWR) from 6 a.m. to 8 p.m. ET daily
    • Los Angeles International Airport (LAX) from Monday through Sunday from 6 a.m. PT to 8 p.m. PT
    • San Diego International Airport (SAN) from Monday through Sunday from 6 a.m. PT to 5 p.m. PT
    • Birmingham Shuttlesworth International Airport (BHM) from Sunday through Friday from 7 a.m CT to 6 p.m. CT and Saturday from 6 a.m. CT to 4 p.m. CT
    • Ronald Reagan Washington National Airport (DCA) from Sunday through Friday from 6 a.m. ET to 9 p.m. ET and Saturday from 6 a.m. ET to 8 p.m. ET
    • John F. Kennedy International Airport (JFK) from Monday through Sunday from 6 a.m. ET to 8 p.m ET daily
    • Harry Reid International Airport (LAS) from Monday through Sunday from 6 a.m. PT to 8 p.m. PT daily
    • Milwaukee Mitchell International Airport (MKE) from Monday through Sunday from 6 a.m. CT to 6 p.m. CT
    • Washington Dulles International Airport (IAD) from Monday through Sunday from 6 a.m. ET to 9 p.m. ET daily
    • San Francisco International Airport (SFO) from Monday through Sunday from 7 a.m. PT to 8 p.m. PT daily
    • Minneapolis–Saint Paul International Airport (MSP) from Monday through Sunday from 6 a.m. CT to 8 p.m CT
    • Louis Armstrong New Orleans International Airport from Monday through Sunday from 6 a.m. CT to 6 p.m. CT
    • William P. Hobby International Airport (HOU) from Sunday through Friday from 6 a.m. ET to 8 p.m. CT and Saturday from 6 a.m. CT to 5:30 p.m. CT
    • George Bush Intercontinental Airport (IAH) from Monday through Sunday from 6 a.m. CT to 6 p.m. CT daily
    • Long Beach Airport (LGB) from Monday through Sunday from 6 a.m. PT to 6 p.m. PT daily
    • Hartsfield-Jackson Atlanta International Airport (ATL) from Monday through Sunday from 6 a.m. ET to 8 p.m. ET daily
    • Austin-Bergstrom International Airport (AUS) from Monday through Sunday from 6 a.m. CT to 5:30 p.m. CT daily
    • Denver International Airport (DEN) from Monday through Sunday from 6 a.m. MT through 8 p.m. MT daily
    • Detroit Metropolitan Wayne County Airport (DTW) from Monday through Sunday from 6 a.m. ET to 8 p.m. ET daily
    • Rhode Island T.F. Green International Airport (PVD) from Monday through Sunday from 6 a.m. ET to 6 p.m. ET daily
    • San Jose Mineta International Airport (SJC) from Monday through Sunday from 6 a.m. PT to 8 p.m. PT daily
    • Luis Muñoz Marín International Airport (SJU) from Monday through Sunday from 6 a.m. AST to 8 p.m. AST daily
    • Boise Airport (BOI) from Monday through Sunday from 6 a.m. MT to 5 p.m. MT daily
    • Dallas Love Field Airport (DAL) from Monday through Friday and Sunday from 6 a.m. CT to 8 p.m. CT and Saturday from 6 a.m. MT to 7 p.m. MT
    • Chicago Midway International Airport (MDW) from Monday through Sunday from 6 a.m. CT to 8 p.m. CT daily
    • Ontario International Airport (ONT) from Monday through Sunday from 6 a.m. PT to 7 p.m. PT daily
    • Chicago O’Hare International Airport (ORD) from Monday through Sunday from 6 a.m. CT to 8 p.m. CT daily
    • Palm Springs International Airport (PSP) from Monday through Sunday from 6 a.m. PT to 5 p.m. PT daily
    • Boston Logan International Airport (BOS) from Monday through Sunday from 6 a.m. ET to 6 p.m. ET daily
    • John Glenn Columbus International Airport (CMH) from Monday through Sunday from 6 a.m. ET to 7:30 p.m. ET daily
    • Kansas City International Airport (MCI)from Monday through Sunday from 6 a.m. CT to 6 p.m. CT daily
    • Palm Beach International Airport (PBI) from Monday through Sunday from 6 a.m. ET to 6 p.m. ET daily
    • Cleveland Hopkins International Airport (CLE) from Monday through Sunday from 6 a.m. ET to 8 p.m. ET daily
    • Raleigh-Durham International Airport (RDU) from Monday through Sunday from 6 a.m. ET to 6 p.m. ET daily
    • Tulsa International Airport (TUL) from Monday through Sunday from 6 a.m. CT to 5 p.m. CT daily
    • Nashville International Airport (BNA) from Monday through Sunday from 6 a.m. CT to 6 p.m. CT daily
    • Pittsburgh International Airport (PIT) from Monday through Sunday from 6 a.m. ET to 7:30 p.m. ET daily
    • Cincinnati/Northern Kentucky International Airport (CVG) from Monday through Sunday from 6 a.m. ET to 7:30 p.m. ET daily
    • Greenville–Spartanburg International Airport (GSP) from Monday through Sunday from 6 a.m. ET to 6 p.m. ET daily
    • Will Rogers World Airport (OKC) from Sunday through Friday from 6 a.m. CT to 5 p.m. CT and Saturday from 6 a.m. CT to 4 p.m. CT
    • Dallas-Fort Worth International Airport (DFW) from Monday through Sunday from 6 a.m. CT to 6 p.m. CT daily
    • San Antonio International Airport (SAT) from Monday through Sunday from 6 a.m. CT to 7 p.m. CT daily
    • Bradley International Airport (BDL) from Monday through Sunday from 6 a.m. ET to 6 p.m. ET
    • Buffalo Niagara International Airport (BUF) from Monday through Sunday from 6 a.m. ET to 7 p.m. ET daily
    • Kahului International Airport (OGG) from Monday through Sunday from 6 a.m. HST to 2 p.m. HST daily
    • Daniel K. Inouye International Airport (HNL) from Monday through Sunday from 6 a.m. HST to 2 p.m. HST daily
    • Westchester County Airport (HPN) from Monday through Friday from 5 a.m. ET to 1 p.m. ET
    • St. Louis Lambert International Airport (STL) from Monday through Sunday from 6 a.m. CT to 7 p.m. CT
    • Portland International Airport (PDX) from Monday through Sunday from 7 a.m. PT to 5 p.m. PT
    • Gerald R. Ford International Airport (GRR) from Monday through Sunday from 7 a.m. ET to 3 p.m. ET
    • Portland International Airport (PDX) from Monday through Sunday from 7 a.m. PT to 5 p.m. PT
    • Baltimore/Washington International Thurgood Marshall Airport (BWI) from Monday through Sunday from 6 a.m. ET to 8 p.m. ET
    • Sarasota Bradenton International Airport (SRQ) from Monday through Sunday from 6 a.m. ET to 6 p.m. ET

    About TSA PreCheck®        
    TSA PreCheck is a Department of Homeland Security (DHS) Trusted Traveler program that allows enrolled travelers expedited screening through airport security. TSA PreCheck lanes are located at over 200 airports with nearly 90 airlines participating. Since TSA first launched the TSA PreCheck application program as a DHS Trusted Traveler Program for low-risk travelers in December 2013, active membership in the program has grown to more than 20 million members.

    About CLEAR
    CLEAR’s mission is to create frictionless experiences. With over 30 million Members and a growing network of partners across the world, CLEAR’s identity platform is transforming the way people live, work, and travel. Whether you are traveling, at the stadium, or on your phone, CLEAR connects you to the things that make you, you – making everyday experiences easier, more secure, and friction-free. CLEAR is committed to privacy done right. Members are always in control of their own information, and we never sell Member data. For more information, visit clearme.com.

    Forward-Looking Statements
    This release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any and such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments and events may differ materially from those in the forward-looking statements as a result of various factors, including those described in the Company’s filings within the Securities and Exchange Commission, including the sections titled “Risk Factors” in our Annual Report on Form 10- K. The Company disclaims any obligation to update any forward-looking statements contained herein.

    CLEAR
    media@clearme.com

    This press release was published by a CLEAR® Verified individual.

    The MIL Network

  • MIL-OSI: Trust Wallet Reaches 200 Million Downloads Milestone

    Source: GlobeNewswire (MIL-OSI)

    With this milestone, Trust Wallet cements its position as the #1 crypto wallet

    DUBAI, United Arab Emirates, March 24, 2025 (GLOBE NEWSWIRE) — Trust Wallet, the world’s leading self-custody Web3 wallet, has surpassed 200 million total downloads, marking a game-changing milestone in the industry. Trust Wallet stands as the most widely used non-custodial wallet globally for onchain users, cementing its role as a key gateway to Web3.

    Since its launch in 2017, Trust Wallet has played a pivotal role in onboarding millions into crypto. Initially introduced as an Ethereum wallet, it has evolved into a chain-agnostic, multi-chain Web3 hub, now supporting over 10 millions assets across 100+ blockchains, along with a suite of features that empower users to navigate their entire Web3 journey—from buying their first cryptocurrency to swapping, staking, exploring the decentralized web, and beyond.

    Eowyn Chen, CEO of Trust Wallet, commented on the achievement:

    “Reaching 200 million downloads is a real testament to the trust from the users. In a rapidly evolving industry, our mission has remained the same: empower people with freedom to own and access opportunities. We’re proud of this milestone, but even more humbled and excited about the future as we have many things on the roadmap for our global community. We got to work harder.”

    Trust Wallet has carved out a significant space for itself in the competitive landscape of cryptocurrency wallets. This success can be attributed to a combination of core principles that focus on user experience, community, trust and security.

    What’s Fuelling Trust Wallet’s Growth?

    With millions of users worldwide and a fast-growing community, Trust Wallet continues to expand its reach through compelling features, product innovations, and user-centric initiatives. Its recent growth and success points to a relentless focus on usability, innovation, and security. The wallet strikes a balance between onboarding new users and offering advanced tools for experienced users.

    Examples of Trust Wallet’s innovations include:

    • Enhanced user experience (UX): A streamlined interface designed for both newcomers and pros.
    • MEV Protection: Built-in safeguards to protect users from front-running attacks on crypto swaps. This also helps ensure fair swap pricing.
    • Support for 100+ blockchains: From Solana, Ethereum, BSC, and Base to Tron and beyond, Trust Wallet provides access to the most active ecosystems in Web3.
    • Industry-leading security features: A non-custodial approach that gives users full control of their digital assets—no middlemen, no compromises.

    Building a Future-Proof Web3: Trust Wallet’s Vision and Beyond

    As the on-chain economy evolves and AI-driven innovations take shape, Trust Wallet is focused on bridging the gap between Web2 simplicity and Web3 autonomy. The goal is to make decentralized finance (DeFi) and digital ownership more intuitive, secure, and accessible for millions of users.

    Web3 isn’t just about holding assets—it’s about seamless, intelligent, and secure interactions across decentralized applications (dApps), finance, gaming, and beyond. Trust Wallet continues to expand its capabilities to give users the tools and insights needed to navigate the decentralized world with confidence.

    Key Focus Areas for 2025:

    • Expanding Key Partnerships: Trust Wallet is working with blockchain ecosystems, dApps, and service providers to improve cross-chain capabilities, DeFi access, NFT utilities, and real-world asset tokenization.
    • AI-Powered Enhancements: AI-driven insights and automation will help users make safer, smarter crypto decisions. Features like personalized security alerts, intelligent transaction analysis, and adaptive user experiences will simplify Web3 interactions.
    • Strengthening Security & Compliance While Preserving Self-Custody: With a focus on true ownership and decentralization, Trust Wallet is enhancing security infrastructure, refining compliance where necessary, and ensuring that users maintain full control of their assets without intermediaries.

    By improving usability, security, and intelligence, Trust Wallet is ensuring that more people can explore and benefit from the decentralized economy with confidence.

    About Trust Wallet

    Trust Wallet is the secure, self-custody Web3 wallet and gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it easier, safer, and convenient for millions of people around the world to experience Web3, access dApps securely, store and manage their crypto and NFTs, as well as buy, sell, and stake crypto to earn rewards — all in one place and without limits.

    For media enquiries, contact:

    press@trustwallet.com

    Disclaimer: This press release is provided by Trust Wallet. 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. 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. 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.Speculate only with funds that you can afford to lose.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.

    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 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/2946c160-2cb0-45d9-9870-ae2f8e00cb44

    The MIL Network

  • MIL-OSI United Kingdom: Councillors to consider Highland Investment Plan update

    Source: Scotland – Highland Council

    Highland Councillors will be asked to consider a new approach on the future of the Highland Investment Plan (HIP). 

    Approval is being sought for the allocation of funding for the first phase of proposed projects for 2024/25 to 2029/30 which will help improve local public facilities and sustain local communities and population. 

    The Highland Investment Plan commits to the establishment of a new generation of integrated community facilities (PODs) which will be complimented by a refreshed operating model for services across Highland Council and with key partners, such as NHS Highland. 

    A report to the meeting of The Highland Council on 27 March will provide Councillors with an update on the progress of the Council’s ambitious Highland Investment Plan. The report outlines that the establishment of Community PODs is linked to plans to modernise service delivery and are a key driver for the future operating model of the Highland Community Planning Partnership.  

    The HIP commits £2.1 billion of capital funding over a twenty-year period based on the ring fencing of 2% council tax per annum, or an equivalent revenue stream. 

    The Plan will be used to tackle the major challenges that Highland Council faces with transport and roads; schools and community facilities; depots and public offices across Highland communities.   

    Highland Council Leader Cllr Raymond Bremner said: “Included in the recommendations to Council, will be that Hub North Scotland Ltd be taken forward as the chosen Highland Investment Plan delivery partner; and that a Commissioning Approval Board be set up and chaired by the Assistant Chief Executive – Place. He added: “The wider context of the HIP is to establish a prospectus of investible developments that can attract private sector partners and gain more leverage for public sector investment in local communities.” 

    The Committee will also be asked to agree the allocation of capital funding to the first group of Phase 1 projects at Beauly, Charleston, Dingwall, Dunvegan, Fortrose, Inverness High and Thurso and the proposed project delivery timescales. Councillors will also be asked to agree an option to move to a Community POD development for St Clement’s and Dingwall Primary schools, on the basis that this provides the greatest educational benefits for both schools, and the maximum economic benefit for the wider community. 

    The report to Councillors invites them to note that ‘the relocation of St Clement’s School will require a statutory consultation to locate a replacement building for St Clement’s School on the new Dingwall Community POD site. If approved, the new Community POD development is prioritised for the earliest possible delivery, with construction commencing early in 2027 and the new building being operational by the end of 2028/29. 

    Convener of the Council, Cllr Bill Lobban added: “All work to date by the Council on the Highland Investment Plan has taken into account the views of local people and local issues and priorities. Members will have the opportunity to discuss the report on Thursday and if the recommendations regarding St Clement’s and Dingwall Primary schools are agreed, the Council will immediately commence an informal consultation period of engagement with relevant stakeholders from both schools. In addition, if agreed by Council, work will also start on a Strategic Outline Case for Lochaber Adult Care Provision.” 

    Members will also be updated on the Thurso Place-Based review which will determine a preferred model for a Thurso Community POD. If agreed, this project’s recommendation is that it should be prioritised for the earliest possible delivery with an estimated operational timescale in 2029/30. 

    In addition to the ongoing development of the Tain Campus, Nairn Academy, Broadford and Tornagrain projects, five previously prioritised Phase 1 projects are being progress with the following earliest operational dates at: Beauly Primary (2027/28); Charleston Academy (2029/30); Dunvegan Primary (2027/28); Fortrose Academy (2029/30); Inverness High (2029/30). 

    Funding of the Highland Investment Plan formed part of the Council Tax and budget decisions on 6 March 2025 when Council agreed its revenue budget for 2025/26, within which 2% of council tax income was agreed to support the HIP. 

    The full report can be found here (Item 5).   

    More information on the Highland Investment Plan can be found on the Council’s website:  

    https://www.highland.gov.uk/highlandinvestmentplan

    MIL OSI United Kingdom

  • MIL-OSI: Danske Bank share buy-back programme: transactions in week 12

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 14 2025

    Danske Bank

    Bernstorffsgade 40

    DK-1577 København V

    Tel. + 45 33 44 00 00

    24/03/2025

    Page 1 of 1

    Danske Bank share buy-back programme: transactions in week 12

    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 12:

      Number of shares VWAP DKK Gross value DKK
    Accumulated, last announcement 125,000 236.8982 29,612,278
    17/03/2025 5,000 239.3872 1,196,936
    18/03/2025 5,000 243.3227 1,216,614
    19/03/2025 5,000 244.0602 1,220,301
    20/03/2025 5,000 241.3281 1,206,641
    21/03/2025 187,100 229.8545 43,005,777
    Total accumulated over week 12 207,100 231.0298 47,846,268
    Total accumulated during the share buyback programme 332,100 233.2386 77,458,546

    With the transactions stated above, the total accumulated number of own shares under the share buy-back programme corresponds to 0.039% of Danske Bank A/S’ share capital.

    Danske Bank

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

    Attachment

    The MIL Network

  • MIL-OSI: QuantaSing Group Extends Business Portfolio into Pop Toys Sector through Letsvan Investment

    Source: GlobeNewswire (MIL-OSI)

    BEIJING, March 24, 2025 (GLOBE NEWSWIRE) — QuantaSing Group Limited (NASDAQ: QSG) (“QuantaSing” or the “Company”), a leading lifestyle solution provider empowering adults to live better and longer, today announced that it entered into definitive agreements to invest in Shenzhen Yiqi Culture Co., Ltd. (“Letsvan”), a PRC-based company specializing in IP incubation, copyright commercialization, and the promotion and sales of pop toys. The transaction marks QuantaSing’s strategic entry into the pop toys market and broader consumer goods sector. Effective upon the completion of the investments pursuant to such agreements, Letsvan will become a controlled subsidiary of the Company, and its financial results will be consolidated into QuantaSing’s financial statements.

    According to Frost & Sullivan, the global and China character toy markets reached RMB345.8 billion and RMB40.3 billion in 2023, respectively, and are expected to grow at a CAGR of 9.3% and 17.7% to reach RMB540.7 billion and RMB91.1 billion in 2028, respectively. Character-based figurines, a key segment in Letsvan’s portfolio, have shown strong growth with a 17.8% CAGR from 2017 to 2023 and are projected to maintain 16.8% growth through 2027. Collectible toys have gained substantial popularity in international markets, with growing consumer enthusiasm for limited-edition releases and character-based merchandise across various age demographics.

    Letsvan has built a strong IP matrix featuring popular characters such as Wakuku, Ziyuli, and other distinctive IPs that have gained traction in the collectibles market. The company has achieved rapid channel expansion through partnerships with major retail chains, e-commerce platforms, and specialty toy stores, enhancing both online and offline distribution capabilities. International expansion is currently underway, including the establishment of Southeast Asian operations to capitalize on growing regional demand.

    Following this strategic investment, QuantaSing will implement an omni-channel strategy for Letsvan that integrates online and offline retail experiences for consumers. With market validation successfully completed, the company is positioned to transform Letsvan into a significant business unit. A dedicated, integrated team comprised of QuantaSing’s leadership and Letsvan’s core team will execute the growth strategy, led by Mr. Peng Li, the founder, Chairman, and CEO of QuantaSing.

    “This investment reflects our strategic approach to deploying our abundant cash reserves to capture structural opportunities in the consumer sector,” said Mr. Peng Li. “Having completed our market assessment, we are now advancing to the scaling phase by applying our digital marketing capabilities and operational know-how. We expect to drive growth in this segment while maintaining the financial discipline that has consistently delivered value to our shareholders.”

    “Joining QuantaSing opens tremendous growth opportunities for Letsvan,” said Huiyu (Zack) Zhan, CEO of Letsvan. “By combining our IP advantages with QuantaSing’s operational capabilities and entrepreneurial spirit, we aim to become a leading player in the pop toys industry. We remain committed to refining our products and delivering exceptional service, ensuring our customers enjoy continuous, joyful experiences with our brands.”

    About QuantaSing Group Limited

    QuantaSing is a leading lifestyle solution provider empowering adults to live better and longer. Leveraging its profound understanding of adult users and robust infrastructure, QuantaSing offers easy-to-understand, affordable, and accessible online courses to adult learners as well as consumer products and service in selected areas to address the senior users’ aspirations for wellness.

    For more information, please visit: https://ir.quantasing.com.

    Contact

    Investor Relations
    Leah Guo
    QuantaSing Group Limited
    Email: ir@quantasing.com
    Tel: +86 (10) 6493-7857

    Robin Yang, Partner
    ICR, LLC
    Email: QuantaSing.IR@icrinc.com
    Phone: +1 (212) 537-0429

    The MIL Network

  • MIL-OSI China: China’s finance minister vows more proactive fiscal policy

    Source: China State Council Information Office

    China will implement a more proactive fiscal policy this year and ensure its sustained strength and effectiveness, said Finance Minister Lan Fo’an at the ongoing China Development Forum 2025.

    Addressing current economic difficulties and challenges, Lan emphasized that China’s economic and fiscal strengths have grown significantly, and the country has accumulated richer experience in macroeconomic management and fiscal governance.

    He said the confidence in China’s economic development stems from its solid fundamentals, numerous advantages, strong resilience, and vast potential that underpin its long-term growth.

    The confidence also comes from a sober understanding of potential risks and the foresight to prepare accordingly, leaving ample fiscal room to respond to possible shocks and challenges, Lan added.

    The primary task of this year’s fiscal policy, Lan said, is to significantly boost consumption and enhance investment efficiency in an effort to expand domestic demand.

    “China has the world’s most promising super-sized market, with immense potential for consumption growth,” said Lan, adding that the central government is introducing measures on both the supply and demand sides to stimulate consumption.

    As part of these efforts, China is scheduled to issue a total of 1.3 trillion yuan (about 181 billion U.S. dollars) of ultra-long special treasury bonds in 2025, up 300 billion yuan from last year, official data showed.

    The government funding for the national consumer goods trade-in program will increase from 150 billion yuan last year to 300 billion yuan in 2025.

    To support the expansion of effective investment, Lan said a significant amount of fiscal funds has been arranged this year, with different funding channels coordinated to target specific areas.

    Accelerating the development of new quality productive forces is another fiscal priority, Lan added. The central government will ramp up support for education, science and technology, and talent development, promoting the deep integration of technological and industrial innovation.

    Speaking to global business leaders attending the forum, Lan also emphasized that China’s fiscal policy will support high-standard opening up. China will ensure equal treatment for all types of business entities and continue to improve the business environment.

    The China Development Forum 2025 is scheduled from March 23 to 24, with the theme “Unleashing Development Momentum for Stable Growth of Global Economy.”

    MIL OSI China News