Category: Housing Sector

MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for June 26, 2025

ER Report: Here is a summary of significant articles published on EveningReport.nz on June 26, 2025.

‘Do not eat’: what’s in those little desiccant sachets and how do they work?
Source: The Conversation (Au and NZ) – By Kamil Zuber, Senior Industry Research Fellow, Future Industries Institute, University of South Australia towfiqu ahamed/Getty Images When you buy a new electronic appliance, shoes, medicines or even some food items, you often find a small paper sachet with the warning: “silica gel, do not eat”. What exactly

‘I’m dreading birthing in such a system’: what Indigenous women globally think of birth care and what they’d like to see instead
Source: The Conversation (Au and NZ) – By Nina Sivertsen, Associate Professor, College of Nursing and Health Sciences, Flinders University Pregnancy and having a baby can be a special time. And families want to feel safe and trust their maternity care. But when we reviewed the evidence, we found many Indigenous families globally face unfair

Iran accuses US over ‘torpedoed diplomacy’ – passes bill to halt UN nuclear watchdog cooperation
BEARING WITNESS: By Cole Martin in occupied Bethlehem Kia ora koutou, I’m a Kiwi journo in occupied Bethlehem, here’s a brief summary of today’s events across the Palestinian and Israeli territories from on the ground. At least 79 killed and 391 injured by Israeli forces in Gaza over the last 24 hours, including 33 killed

Parenthood or podium? It’s time Australian athletes had the support to choose both
Source: The Conversation (Au and NZ) – By Jasmine Titova, PhD Candidate, CQUniversity Australia When tennis legend Serena Williams retired in 2022, she stated: If I were a guy, I wouldn’t be writing this because I’d be out there playing and winning while my wife was doing the physical labour of expanding our family. Many

Papua New Guinea police blame overrun system for prison breakouts
By Margot Staunton, RNZ Pacific senior journalist Police in Papua New Guinea say the country’s overrun courts and prisons are behind mass breakouts from police custody. Chief Superintendent Clement Dala made the comment after 13 detainees escaped on Tuesday in Simbu Province, including eight who were facing murder charges. Dala said an auxiliary policeman who

Stable public housing in the first year of life boosts children’s wellbeing years down the track – new research
Source: The Conversation (Au and NZ) – By Jaimie Monk, Research Fellow, Motu Economic and Public Policy Research Phil Walter/Getty Images New Zealand’s unaffordable housing market means low-income families face big constraints on their accommodation options. This involves often accepting housing that is insecure, cold, damp or in unsuitable neighbourhoods. But little is known about

From HAL 9000 to M3GAN: what film’s evil robots tell us about contemporary tech fears
Source: The Conversation (Au and NZ) – By Adam Daniel, Associate Lecturer in Communication, Western Sydney University © 2025 Universal Studios. All Rights Reserved. Filmgoers have long been captivated by stories about robots. We are fascinated by their utopian promise, their superhuman intelligence and, in the case of the cyborg, their often uncanny resemblance to

Yes, Victoria’s efforts to wean households off gas have been dialled back. But it’s still real progress
Source: The Conversation (Au and NZ) – By Trivess Moore, Associate Professor in Property, Construction and Project Management, RMIT University MirageC/Getty On the question of gas, Victoria’s government faces pressure from many directions. The Bass Strait wells supplying Australia’s most gas-dependent state are running dry. Gas prices shot up in 2020 and have stayed high.

From HAL 9000 to ME3AN: what film’s evil robots tell us about contemporary tech fears
Source: The Conversation (Au and NZ) – By Adam Daniel, Associate Lecturer in Communication, Western Sydney University © 2025 Universal Studios. All Rights Reserved. Filmgoers have long been captivated by stories about robots. We are fascinated by their utopian promise, their superhuman intelligence and, in the case of the cyborg, their often uncanny resemblance to

Remote cave discovery shows ancient voyagers brought rice across 2,300km of Pacific Ocean
Source: The Conversation (Au and NZ) – By Hsiao-chun Hung, Senior Research Fellow, School of Culture, History & Language, Australian National University Ritidian beach, Guam. Hsiao-chun Hung In a new study published today in Science Advances, my colleagues and I have uncovered the earliest evidence of rice in the Pacific Islands – at an ancient

500,000 Australians live with mental illness but don’t qualify for the NDIS. A damning new report says they need more support
Source: The Conversation (Au and NZ) – By Sebastian Rosenberg, Associate Professor, Health Research Institute, University of Canberra, and Brain and Mind Centre, University of Sydney stellalevi/Getty Half a million Australians are living with moderate to severe mental illness, but they don’t qualify for the National Disability Insurance Scheme (NDIS) and cannot access the support

‘I’m not going to give up’: how to help more disadvantaged young people go to uni and TAFE
Source: The Conversation (Au and NZ) – By Lucas Walsh, Professor and Director of the Centre for Youth Policy and Education Practice, Monash University Oliver Rossi/ Getty Images On Wednesday, Education Minister Jason Clare hailed an increase in the numbers of Australians starting a university degree. In 2024, there was a 3.7% increase in Australian

New climate reporting rules start on July 1. Many companies are not ready for the change
Source: The Conversation (Au and NZ) – By Rachel Baird, Senior Lecturer , University of Tasmania PaeGAG/Shutterstock A new financial year starts on July 1. For Australia’s large companies, that means new rules on climate-related disclosures come into force. These requirements are the culmination of years of planning to ensure companies disclose climate-related risks and

Whose story is being told — and why? 4 questions museum visitors should ask themselves this school holidays
Source: The Conversation (Au and NZ) – By Olli Hellmann, Associate Professor of Political Science, University of Waikato The winter school holidays will mean families across Aotearoa New Zealand will be looking for indoor activities to entertain children. With millions of visitors each year, museums focused on the country’s history will inevitably play host to

Philly psychology students map out local landmarks and hidden destinations where they feel happiest
Source: The Conversation (Au and NZ) – By Eric Zillmer, Professor of Neuropsychology, Drexel University Rittenhouse Square Park in Center City made it onto the Philly Happiness Map. Matthew Lovette/Jumping Rocks/Universal Images Group via Getty Images What makes you happy? Perhaps a good night’s sleep, or a wonderful meal with friends? I am the director

Macron invites all New Caledonia stakeholders for Paris talks
By Patrick Decloitre, RNZ Pacific correspondent French Pacific desk French President Emmanuel Macron has sent a formal invitation to “all New Caledonia stakeholders” for talks in Paris on the French Pacific territory’s political and economic future to be held on July 2. The confirmation came on Thursday in the form of a letter sent individually

Opposition starts on challenge of crafting (yet another) energy policy
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra The opposition is commencing the challenging task of framing a new energy policy, including deciding whether to stick by its commitment to net zero emissions by 2050. Liberal leader Sussan Ley, appearing at the National Press Club, announced a Coalition

Election flows reveal nearly 90% of Greens preferenced Labor ahead of Coalition
Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne Minor party preference flows for the federal election have been released, with Labor winning Greens preferences by 88.2–11.8, while the Coalition won One Nation preferences by 74.5–24.5.

Australia’s native bees struggled after the Black Summer fires – but a world-first solution brought them buzzing back
Source: The Conversation (Au and NZ) – By Kit Prendergast, Postdoctoral Researcher, Pollination Ecology, University of Southern Queensland Kit Prendergast (@bee.babette_performer) After a devastating bushfire, efforts to help nature recover typically focus on vertebrates and plants. Yet extreme fires can threaten insects, too. After the Black Summer fires of 2019–20, I embarked on world-first research

Wild swings in the oil price make the Reserve Bank’s job harder
Source: The Conversation (Au and NZ) – By John Hawkins, Head, Canberra School of Government, University of Canberra It looks, at least for now, as though tensions in the Middle East are easing somewhat. It appears much less likely Iran will try to close the Strait of Hormuz, through which flows about a fifth of

MIL OSI Analysis – EveningReport.nz –

June 26, 2025
MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for June 26, 2025

ER Report: Here is a summary of significant articles published on EveningReport.nz on June 26, 2025.

‘Do not eat’: what’s in those little desiccant sachets and how do they work?
Source: The Conversation (Au and NZ) – By Kamil Zuber, Senior Industry Research Fellow, Future Industries Institute, University of South Australia towfiqu ahamed/Getty Images When you buy a new electronic appliance, shoes, medicines or even some food items, you often find a small paper sachet with the warning: “silica gel, do not eat”. What exactly

‘I’m dreading birthing in such a system’: what Indigenous women globally think of birth care and what they’d like to see instead
Source: The Conversation (Au and NZ) – By Nina Sivertsen, Associate Professor, College of Nursing and Health Sciences, Flinders University Pregnancy and having a baby can be a special time. And families want to feel safe and trust their maternity care. But when we reviewed the evidence, we found many Indigenous families globally face unfair

Iran accuses US over ‘torpedoed diplomacy’ – passes bill to halt UN nuclear watchdog cooperation
BEARING WITNESS: By Cole Martin in occupied Bethlehem Kia ora koutou, I’m a Kiwi journo in occupied Bethlehem, here’s a brief summary of today’s events across the Palestinian and Israeli territories from on the ground. At least 79 killed and 391 injured by Israeli forces in Gaza over the last 24 hours, including 33 killed

Parenthood or podium? It’s time Australian athletes had the support to choose both
Source: The Conversation (Au and NZ) – By Jasmine Titova, PhD Candidate, CQUniversity Australia When tennis legend Serena Williams retired in 2022, she stated: If I were a guy, I wouldn’t be writing this because I’d be out there playing and winning while my wife was doing the physical labour of expanding our family. Many

Papua New Guinea police blame overrun system for prison breakouts
By Margot Staunton, RNZ Pacific senior journalist Police in Papua New Guinea say the country’s overrun courts and prisons are behind mass breakouts from police custody. Chief Superintendent Clement Dala made the comment after 13 detainees escaped on Tuesday in Simbu Province, including eight who were facing murder charges. Dala said an auxiliary policeman who

Stable public housing in the first year of life boosts children’s wellbeing years down the track – new research
Source: The Conversation (Au and NZ) – By Jaimie Monk, Research Fellow, Motu Economic and Public Policy Research Phil Walter/Getty Images New Zealand’s unaffordable housing market means low-income families face big constraints on their accommodation options. This involves often accepting housing that is insecure, cold, damp or in unsuitable neighbourhoods. But little is known about

From HAL 9000 to M3GAN: what film’s evil robots tell us about contemporary tech fears
Source: The Conversation (Au and NZ) – By Adam Daniel, Associate Lecturer in Communication, Western Sydney University © 2025 Universal Studios. All Rights Reserved. Filmgoers have long been captivated by stories about robots. We are fascinated by their utopian promise, their superhuman intelligence and, in the case of the cyborg, their often uncanny resemblance to

Yes, Victoria’s efforts to wean households off gas have been dialled back. But it’s still real progress
Source: The Conversation (Au and NZ) – By Trivess Moore, Associate Professor in Property, Construction and Project Management, RMIT University MirageC/Getty On the question of gas, Victoria’s government faces pressure from many directions. The Bass Strait wells supplying Australia’s most gas-dependent state are running dry. Gas prices shot up in 2020 and have stayed high.

From HAL 9000 to ME3AN: what film’s evil robots tell us about contemporary tech fears
Source: The Conversation (Au and NZ) – By Adam Daniel, Associate Lecturer in Communication, Western Sydney University © 2025 Universal Studios. All Rights Reserved. Filmgoers have long been captivated by stories about robots. We are fascinated by their utopian promise, their superhuman intelligence and, in the case of the cyborg, their often uncanny resemblance to

Remote cave discovery shows ancient voyagers brought rice across 2,300km of Pacific Ocean
Source: The Conversation (Au and NZ) – By Hsiao-chun Hung, Senior Research Fellow, School of Culture, History & Language, Australian National University Ritidian beach, Guam. Hsiao-chun Hung In a new study published today in Science Advances, my colleagues and I have uncovered the earliest evidence of rice in the Pacific Islands – at an ancient

500,000 Australians live with mental illness but don’t qualify for the NDIS. A damning new report says they need more support
Source: The Conversation (Au and NZ) – By Sebastian Rosenberg, Associate Professor, Health Research Institute, University of Canberra, and Brain and Mind Centre, University of Sydney stellalevi/Getty Half a million Australians are living with moderate to severe mental illness, but they don’t qualify for the National Disability Insurance Scheme (NDIS) and cannot access the support

‘I’m not going to give up’: how to help more disadvantaged young people go to uni and TAFE
Source: The Conversation (Au and NZ) – By Lucas Walsh, Professor and Director of the Centre for Youth Policy and Education Practice, Monash University Oliver Rossi/ Getty Images On Wednesday, Education Minister Jason Clare hailed an increase in the numbers of Australians starting a university degree. In 2024, there was a 3.7% increase in Australian

New climate reporting rules start on July 1. Many companies are not ready for the change
Source: The Conversation (Au and NZ) – By Rachel Baird, Senior Lecturer , University of Tasmania PaeGAG/Shutterstock A new financial year starts on July 1. For Australia’s large companies, that means new rules on climate-related disclosures come into force. These requirements are the culmination of years of planning to ensure companies disclose climate-related risks and

Whose story is being told — and why? 4 questions museum visitors should ask themselves this school holidays
Source: The Conversation (Au and NZ) – By Olli Hellmann, Associate Professor of Political Science, University of Waikato The winter school holidays will mean families across Aotearoa New Zealand will be looking for indoor activities to entertain children. With millions of visitors each year, museums focused on the country’s history will inevitably play host to

Philly psychology students map out local landmarks and hidden destinations where they feel happiest
Source: The Conversation (Au and NZ) – By Eric Zillmer, Professor of Neuropsychology, Drexel University Rittenhouse Square Park in Center City made it onto the Philly Happiness Map. Matthew Lovette/Jumping Rocks/Universal Images Group via Getty Images What makes you happy? Perhaps a good night’s sleep, or a wonderful meal with friends? I am the director

Macron invites all New Caledonia stakeholders for Paris talks
By Patrick Decloitre, RNZ Pacific correspondent French Pacific desk French President Emmanuel Macron has sent a formal invitation to “all New Caledonia stakeholders” for talks in Paris on the French Pacific territory’s political and economic future to be held on July 2. The confirmation came on Thursday in the form of a letter sent individually

Opposition starts on challenge of crafting (yet another) energy policy
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra The opposition is commencing the challenging task of framing a new energy policy, including deciding whether to stick by its commitment to net zero emissions by 2050. Liberal leader Sussan Ley, appearing at the National Press Club, announced a Coalition

Election flows reveal nearly 90% of Greens preferenced Labor ahead of Coalition
Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne Minor party preference flows for the federal election have been released, with Labor winning Greens preferences by 88.2–11.8, while the Coalition won One Nation preferences by 74.5–24.5.

Australia’s native bees struggled after the Black Summer fires – but a world-first solution brought them buzzing back
Source: The Conversation (Au and NZ) – By Kit Prendergast, Postdoctoral Researcher, Pollination Ecology, University of Southern Queensland Kit Prendergast (@bee.babette_performer) After a devastating bushfire, efforts to help nature recover typically focus on vertebrates and plants. Yet extreme fires can threaten insects, too. After the Black Summer fires of 2019–20, I embarked on world-first research

Wild swings in the oil price make the Reserve Bank’s job harder
Source: The Conversation (Au and NZ) – By John Hawkins, Head, Canberra School of Government, University of Canberra It looks, at least for now, as though tensions in the Middle East are easing somewhat. It appears much less likely Iran will try to close the Strait of Hormuz, through which flows about a fifth of

MIL OSI Analysis – EveningReport.nz –

June 26, 2025
MIL-Evening Report: Stable public housing in the first year of life boosts children’s wellbeing years down the track – new research

Source: The Conversation (Au and NZ) – By Jaimie Monk, Research Fellow, Motu Economic and Public Policy Research

Phil Walter/Getty Images

New Zealand’s unaffordable housing market means low-income families face big constraints on their accommodation options. This involves often accepting housing that is insecure, cold, damp or in unsuitable neighbourhoods.

But little is known about the impact of housing type early in life on children’s wellbeing over time.

Using data from nearly 6,000 children in the Growing Up in New Zealand study, our new research compared outcomes for children provided with public housing support during the crucial earliest years (pregnancy through to nine months) with those in other types of housing.

What we found supports ongoing investment in secure, quality housing as a way to reduce inequalities in New Zealand – particularly for those with very young children.

Importantly, by the age of 12, children who started life in public housing had higher levels of wellbeing than some of their peers.

Tracking wellbeing

For our project, we used data on the type of housing at nine months of age, as well as mothers’ assessments of children’s social and emotional development across the period when the children were two to nine years old.

The final data we used were the children’s own responses regarding their quality of life at 12 years old.

Housing was categorised into four types: private ownership (52.3% of children), public rental (9.1%), private rental (35.8%) or other (2.9%).

The New Zealand government provides housing subsidies to approximately 7% of the population. Public housing comprises around 4% of the country’s housing stock.

Demand for help has remained high, with 20,300 people on the waitlist for social housing in December 2024. At the same time, Kāinga Ora has axed 212 housing projects because they did not stack up financially, or were in the wrong locations.

Housing influences behaviour

Throughout our research, we found children who began life in public housing were the group facing the most disadvantage. They exhibited higher levels of behavioural difficulties in early childhood than those in other housing types.

These behavioural difficulties include conduct, hyperactivity and emotional or peer relationship problems. However, their difficulty scores declined more steeply over time, getting closer to their peers by age nine.

In contrast, children’s trajectories of prosocial behaviour, such as being kind and helpful, were the same for each group.

By 12, self-reported wellbeing for children who started life in public housing was at or above that of their peers in private rentals, despite being in the most disadvantaged group in their early years.

These results are different to the outcomes seen in similar research from Australia which found children in public housing had widening gaps in wellbeing compared with their peers in privately owned houses.

In New Zealand, factors such as strong relationships with important adults such as parents and teachers, and reduced exposure to bullying, were found to be more strongly associated with quality of life at this age than housing type or frequency of moving house.

The importance of a stable home

Our work focuses on the early years of a child’s life where security, financial stability and a warm, dry home are important for children’s healthy development. Public housing filled this need for many low-income families.

Despite the positive results seen at 12, gaps in behavioural development between children from the public housing group and their peers were apparent when children started school.

These differences in school readiness mean these children are likely to need wider support to ensure they can make the most of long-term educational opportunities.

But overall, having access to public housing in infancy appears to have cumulative benefits for vulnerable children in New Zealand, providing a stable base for families as children start their lives.

Jaimie Monk received funding from the Ministry of Business, Innovation and Employment Endeavour Programme for this research and has previously received funding from the Ministry of Social Development.

– ref. Stable public housing in the first year of life boosts children’s wellbeing years down the track – new research – https://theconversation.com/stable-public-housing-in-the-first-year-of-life-boosts-childrens-wellbeing-years-down-the-track-new-research-259534

MIL OSI Analysis – EveningReport.nz –

June 26, 2025

MIL-OSI Europe: REPORT on the proposal for a Council decision on the adoption by Bulgaria of the euro on 1 January 2026 – A10-0113/2025

Source: European Parliament

DRAFT EUROPEAN PARLIAMENT LEGISLATIVE RESOLUTION

on the proposal for a Council decision on the adoption by Bulgaria of the euro on 1 January 2026

(COM(2025)0304 – C10‑0110/2025 – 2025/0158(NLE))

(Consultation)

The European Parliament,

– having regard to the Commission proposal to the Council (COM(2025)0304),

– having regard to Article 140(2) of the Treaty on the Functioning of the European Union, pursuant to which the Council consulted Parliament (C10‑0110/2025),

– having regard to the Commission Convergence Report 2025 and the European Central Bank Convergence Report of June 2025,

– having regard to Rule 108 of its Rules of Procedure,

– having regard to the report of the Committee on Economic and Monetary Affairs (A10-0113/2025),

1. Approves the Commission proposal;

2. Calls on the Council to notify Parliament if it intends to depart from the text approved by Parliament;

3. Asks the Council to consult Parliament again if it intends to substantially amend the text approved by Parliament;

4. Instructs its President to forward Parliament’s position to the Council, the Commission, the European Central Bank, the Eurogroup and the governments of the Member States.

EXPLANATORY STATEMENT

Bulgaria joining the euro area sends a strong political and economic signal of confidence in the enduring viability and appeal of the European Union’s single currency. More than two decades after the euro’s introduction, Bulgaria’s readiness to adopt the euro on 1 January 2026 reaffirms the Union’s cohesion and the euro’s role as a global symbol of stability and unity. Bulgaria has achieved substantial progress towards full economic convergence, making it well-positioned to become the twenty-first member of the euro area.

Bulgaria introduced its currency board framework on 1 July 1997, pegging the Bulgarian lev to the German mark and subsequently to the euro. Since its EU accession in 2007, Bulgaria has held the status of a “Member State with a derogation,” subject to regular convergence assessments by the European Commission and the European Central Bank.

At the European Parliament level, the Euro Accession Countries Working Group was established by a decision of the ECON Coordinators on 18 November 2019. It remained active throughout the entire 9th legislative term, scrutinising Bulgaria’s readiness to join the euro area and holding four dedicated sessions with experts, as well as Bulgarian Deputy Prime Ministers and Ministers of Finance.

On 25 February 2025, Bulgaria submitted a request for a convergence assessment. The ECB and Commission reports of 4 June 2025 include an examination of the compatibility between Bulgaria’s national legislation, notably the statute of its national central bank, with Articles 130 and 131 of the Treaty and the Statute of the ESCB and of the ECB. The reports also examine whether a high degree of sustainable convergence has been achieved, by reference to the fulfilment of the convergence criteria, and take account of several other factors required under the final sub-paragraph of Article 140(1) of the Treaty.

Based on its own convergence report and that of the ECB, the Commission proposed that Bulgaria adopt the euro as of 1 January 2026. In accordance with Article 140(2) TFEU, the Council shall decide, by qualified majority and on a proposal from the Commission, which Member States with a derogation meet the necessary conditions for adopting the euro, as defined in Article 140(1) TFEU. This decision is to be made following consultation with the European Parliament and on the basis of the Commission and ECB reports. The Parliament is thus consulted on the legislative proposal for a Council decision to allow Bulgaria to adopt the euro on 1 January 2026.

On the Convergence Criteria under Article 140(1) of the TFEU, the Rapporteur observes:

1. Compatibility of National Legislation with Articles 130 and 131 TFEU and the Statutes of the ECB

Bulgaria’s national legislation, including the Law on the Bulgarian National Bank, is fully aligned with EU requirements. The law guarantees the independence of the national central bank and of the members of its decision-making bodies, the prohibition of monetary financing and privileged access, and ensures compliance with the objectives of the ESCB as formulated in Article 127 of the Treaty.

2. Achievement of a High Degree of Price Stability

Over the 12 months to April 2025, Bulgaria recorded an average inflation rate of 2.7%, below the reference value of 2.8%. An analysis of a broad set of indicators reveals no concerns regarding the sustainability of price stability. The reference value is calculated as the average inflation rate of the three best-performing EU Member States in terms of price stability, plus 1.5 percentage points. For the period from May 2024 to April 2025, the reference value of 2.8% is based on the inflation rates of Ireland (1.2%), Finland (1.3%), and Italy (1.4%). No Member States were considered statistical outliers in this calculation, as none showed inflation deviations significantly above the euro area average due to country-specific factors.

3. Sustainability of the Government Financial Position

Bulgaria is currently not subject to a Council Decision on the existence of an excessive deficit. Its general government budget deficit stood at 3.0% of GDP in 2024, i.e. at the level of the 3% reference value, and its general government gross debt-to-GDP ratio stood at 24.1%, i.e. well below the 60% reference value since 2007.

4. Compliance with the Normal Fluctuation Margins of the EMS’s Exchange Rate Mechanism (ERM II) for at least the past 2 years

The Bulgarian lev participated in ERM II in the two-year reference period from 20 May 2023 to 19 May 2025. Over the reference period, the lev did not exhibit any deviation from the central rate. Bulgaria has fulfilled nearly all of its post-entry commitments under ERM II. Further efforts are needed related to anti-money laundering and counter terrorist financing (AML/CFT) measures.

5. Durability of Convergence, as Reflected in Long-Term Interest Rate Levels

In the twelve months ending April 2025, Bulgaria’s average long-term interest rate was 3.9%, well below the reference value of 5.1%. The reference value for April 2025 is calculated as the simple average of the average long-term interest rates in Ireland (2.8%), Finland (2.9%) and Italy (3.7%) plus 2 percentage points, yielding a reference value of 5.1%.

6. Economic Integration and Convergence (Article 140(1), Second Subparagraph TFEU)

In accordance with Article 140 TFEU, the Commission’s assessment must also consider additional factors relevant to economic integration and convergence, as these provide insight into a Member State’s capacity to join the euro area without significant difficulties. These include developments in the balance of payments and product, labour, and financial market integration.

In this context, Bulgaria’s external position has improved, with its combined current and capital account close to balance in 2024. The country is well integrated with the euro area through trade and investment, benefiting from increased banking and financial integration and access to the broader euro area market. Bulgaria continues to make progress but further actions are needed to address the rule of law, anti-corruption efforts, and regulatory quality.

While the financial sector is small and bank-dominated, it is well embedded in the euro area, supported by Bulgaria’s participation in the banking union since 2020. Market-based financing remains underdeveloped, but potential financial stability risks are being mitigated by the Bulgarian National Bank’s conservative macroprudential policy and the robustness of the banking system. The Commission’s 2025 Alert Mechanism Report found no need for an in-depth imbalance review, but emphasized the importance of closely monitoring developments in competitiveness, the housing market, and credit growth.

Bulgaria’s Recovery and Resilience Plan (RRP), supported by €5.7 billion in EU grants (2021–2026), targets structural reforms, competitiveness, and reducing regional disparities. A revised RRP was submitted in April 2025 to accelerate implementation, especially in decarbonisation, governance, and business environment. Cohesion policy funds (€10.7 billion for 2021–2027) further support competitiveness, the green transition, social inclusion, and education, with implementation progressing overall, despite some remaining challenges.

7. Note regarding Consultation of the European Parliament

In accordance with Rule 108 of the Rules of Procedure, when Parliament is consulted pursuant to Article 140(2) of the Treaty on the Functioning of the European Union, the committee responsible shall submit a report to Parliament advocating approval or rejection of the proposed act on the basis of which Parliament shall deliberate. Parliament shall take a single vote on the proposed act, to which no amendments may be tabled, which shall apply also to the vote in committee. On 19 March 2025, ECON Coordinators agreed the file to be treated swiftly with plenary vote in July and to allocate the rapporteurship on this file as soon as possible.

Based on the above, the Rapporteur recommends that the derogation be lifted and Bulgaria adopts the euro on 1 January 2026.

ANNEX: ENTITIES OR PERSONS FROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT

Pursuant to Article 8 of Annex I to the Rules of Procedure, the rapporteur declares that she received input from the following entities or persons in the preparation of the draft report, prior to the adoption thereof in committee:

Entity and/or person

Commissioner for Economy and Productivity; Implementation and Simplification

Minister of Finance of the Republic of Bulgaria

Permanent Representation of the Republic of Bulgaria to the European Union

Chair of the Committee on Budget and Finance in the National Assembly of the Republic of Bulgaria

Association of Banks in Bulgaria

Governor of the Bulgarian National Bank

Prime Minister of the Republic of Bulgaria

Bulgarian Commission for Consumer Protection

The list above is drawn up under the exclusive responsibility of the rapporteur.

Where natural persons are identified in the list by their name, by their function or by both, the rapporteur declares that she has submitted to the natural persons concerned the European Parliament’s Data Protection Notice No 484 (https://www.europarl.europa.eu/data-protect/index.do), which sets out the conditions applicable to the processing of their personal data and the rights linked to that processing.

MINORITY POSITION

MEP Rada Laykova

Minority position under Rule 56(4) of the Rules of Procedure

Proposal for a Council decision on the adoption by Bulgaria of the euro on 1 January 2026

The supposed job of the EP is to scrutinize the Commission´s assessment on behalf of the people, as they will pay the price of the ignored Maastricht criteria – mathematical rules to ensure no Ponzi scheme happens to the Euro.

However, what did it do?

• Ignore incoherence between findings within the Commission report and its final assessment, which strongly suggests a political decision that ignores Maastricht criteria and math to the detriment of the people;

• ignore the suspicious Bulgarian budget data sent to the Commission with absurd income projections and concealed expenses;

• ignore the suppressed referendum in Bulgaria;

• replace the scrutiny by a gleeful statement cheerleading Bulgaria´s boarding of the “Eurotanic”, ignoring the obvious state of the Euro, which shows several classic terminal signs of a flat currency. A short statement like “shared sorrow is half sorrow” would have been more honest.

The lack of diligence might have serious and far-reaching consequences for the people in the Eurozone or Bulgaria as it recreates certain aspects of Greece´s accession into the Euro.

Here, the EU´s “democracy in action” was “democracy in name only” and the people will pay the price, as evidenced in the past.

MIL OSI Europe News –

June 26, 2025

MIL-OSI Global: Moving Notting Hill Carnival to Hyde Park would wrench it from the community and history at its heart

Source: The Conversation – UK – By Maggie Inchley, Reader in Contemporary Theatre and Performance, Queen Mary University of London

Shutterstock/JessicaGirvan

Today’s Notting Hill Carnival, first held in its streets in 1966 when it was led by a Trinidadian steel band, is a glorious cultural blend. It’s a hotch-potch of traditions, music, dancing and food which commemorates the history of black British communities and integrates others.

But the future of Notting Hill Carnival is now in doubt amid concerns that the event doesn’t have the funding to ensure the safety of attendees.

One touted solution is to move the carnival to another location. Writing in the Guardian last year, retired black Met superintendent Leroy Logan recommended a more open space, such as Hyde Park. Policing would be far easier there, with walled boundaries removing escape routes for potential “trouble makers”.

But holding the carnival in Hyde Park could alter the way that the carnival is enjoyed in ways that would be fundamental to the community it comes from.

My research in creative performance with communities explores the joy that comes from participating in events and activities that celebrate our collective strengths and differences. I look at the important issues of lived experiences and cultural heritage in events like Carnival.

This article is part of our State of the Arts series. These articles tackle the challenges of the arts and heritage industry – and celebrate the wins, too.

The Russian philosopher Mikhail Bakhtin (1895-1975) wrote of a “carnival sense of the world”. For Bakhtin, carnival was an unleashing of energies, in which hierarchies disappeared, and people were free to mix with each other.

For his critics, the liberating energy that Bakhtin describes can be too easily co-opted to dominant cultures, especially where carnival can be made to serve the market’s insatiable appetite. While the democratising dynamics of carnival are valuable, it is also important to consider the particular histories and places in which its traditions and practices have developed. Even joy is contingent on place and context.

The Notting Hill Carnival is currently free to over 1.5 million visitors. Controlling access would severely contract its size and almost certainly lead to commercial exploitation, reducing its renowned inclusivity.

What’s more, the right to be publicly seen and heard carries intense symbolic significance for the Caribbean community. This is profoundly important in the wake of the 2018 Windrush scandal, in which the government tried to remove many black citizens who had lawfully lived and worked in Britain for decades under the terms of the British Nationality act of 1948.

Read more:
Unravelling the Windrush myth: the confidential government communications that reveal authorities did not want Caribbean migrants to come to Britain

Many of this Windrush generation, a large number of whom lived in Notting Hill and north Kensington, made a huge contribution to the rebuilding of the British economy, having been invited to the country in the wake of the second world war. In their daily lives however, they suffered racism and harassment which undermined the right they had to make their homes as British citizens.

The history of the carnival

It is important to recognise that the sights and sounds of the Notting Hill Carnival are tied to the history of black people’s displacement and exploitation by white enslavers and colonialists. An exuberant street presence is a culturally distinctive statement of resistance and heritage.

Author Dan Hancox has written about the fact that enslaved people in the Caribbean were not permitted to take part in the European colonialists’ Mardis Gras balls.

Crowds at the Notting Hill Carnival.
Shutterstock/Turgut Cetinkaya

In 18th century Trinidad, a ritual called Cannes Brulees (sugarcane burning), in which sticks were used to perform the rhythms of African drumming, reconnected these transplanted peoples with their places of origin, and sounded an act of resistance.

Liberation is still enacted today in the right to make music and dance through the streets. Interviewed by Hancox in 2023, CEO of the Notting Hill Carnival Trust, Matthew Philip, pointed to the significance of the newly emancipated black presence in Trinidad’s streets, from which they had been banned by their colonial masters, and their joyful mockery of the white governing class.

Any considerations of safety at the Notting Hill Carnival must also consider how – despite this exuberantly joyful community celebration of black diasporic culture – the event has been commonly portrayed as a flash-point of racial tensions.

Social geographer Peter Jackson has pointed to the racialised media representation of “black youth” after unrest in 1976, during which carnival goers clashed violently with a heavy police presence.

Steve McQueen’s 2020 drama Mangrove portrayed the tensions with the police in the 1970s. In a notable scene outside Trinidadian immigrant Frank Crichlow’s restaurant, the film captured the combination of resistance and joy expressed in West Indian music and dancing. Crichlow was part of the Mangrove Nine, the group of black activists who were tried in 1971 at the Old Bailey for inciting a riot, after repeated police raids on Crichlow’s restaurant.

The trailer for Mangrove.

The group’s acquittal was an important milestone in the history of the rights of black people to live and work without harassment in the London area they were trying to make their home under difficult conditions.

When West Indian migrants came to Notting Hill they were housed in slum conditions. They were charged extortionate rents, often in dilapidated properties once built for the wealthy. Having lived through this and built a thriving community, black residents have in recent decades been forced to move out following the area’s “regentrification”. The trend again points to the displacement of black and working class populations, this time at the housing market’s convenience.

To relocate the carnival from the streets of Notting Hill would risk continuing these histories of displacement of black communities, and ignore the huge symbolic significance of street celebration to black people in Britain and beyond.

Unquestionably, the government must act in the interest of public safety. As it considers the best ways to protect attendees, it will no doubt also assess the carnival’s considerable social and economic benefits

To guarantee these, officials must work with communities whose heritage and citizenship is bound up with the carnival. They need to balance issues of safety with those of access and heritage, and with the need to express a joy that emerges not entirely spontaneously, but from long and complex histories of displacement, relocation and resistance.

Maggie Inchley does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Moving Notting Hill Carnival to Hyde Park would wrench it from the community and history at its heart – https://theconversation.com/moving-notting-hill-carnival-to-hyde-park-would-wrench-it-from-the-community-and-history-at-its-heart-259587

MIL OSI – Global Reports –

June 26, 2025
MIL-OSI: Embassy Bank Appoints Adrienne Kwiatek-Holub to Vice President of Business Banking

Source: GlobeNewswire (MIL-OSI)

BETHLEHEM, Pa., June 25, 2025 (GLOBE NEWSWIRE) — Embassy Bank is proud to announce the appointment of Adrienne Kwiatek-Holub to Vice President of Business Banking. A seasoned professional with over 30 years of experience in commercial banking, Adrienne brings a wealth of knowledge, leadership, and a deep commitment to the Lehigh Valley community.

A native of Lehigh Valley, Adrienne earned her bachelor’s degree from Franklin & Marshall College, and her MBA from Lehigh University. Throughout her career, she has been a passionate advocate for local businesses and a dedicated community leader.

Adrienne is a former President of Commercial Real Estate Women (CREW) Lehigh Valley and currently serves on the Legacy and Inclusion Committees. She is actively involved in several nonprofit boards and is known for her enthusiastic support of youth programs as a proud “Band Parent” and “Scout Mom.”

Her professional and community contributions have earned her numerous accolades, including the SUITS Award from Equi-librium Inc., and recognition as a 2024 Women of Influence by Lehigh Valley Business. She has written articles that have been featured in Network Magazine and Lehigh Valley Business.

“We are thrilled to welcome Adrienne to the Embassy Bank team,” said David M. Lobach, Jr., Chairman, President and CEO, Embassy Bank. “Her experience, leadership, and deep roots in the Lehigh Valley make her an outstanding addition to our business banking group.”

About Embassy Bank

Embassy Bank For the Lehigh Valley is a full-service community bank operating ten branch offices in the Lehigh Valley area of Pennsylvania. The Bank is the largest Lehigh Valley headquartered community bank and, as of June 30, 2024, the Federal Deposit Insurance Corporation’s Summary of Deposits indicates that the Bank holds the 4^th spot in deposit market share in Lehigh and Northampton Counties combined. For more information, visit www.embassybank.com.

Contact:
David M. Lobach, Jr.
Chairman, President and CEO
(610) 882-8800

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e688509f-3896-4118-8a63-9f9dedaf06be

The MIL Network –

June 26, 2025
MIL-OSI Canada: Landlords and property managers: agreeing with competitors on rental prices is illegal
Source: Government of Canada News (2)

June 25, 2025 – GATINEAU (Québec), Competition Bureau

The Competition Bureau is aware that some landlords and property managers may be engaging with their competitors, including through discussion groups on social media.

While some discussions between competitors may be justified, others could be illegal. Landlords and property managers must understand the difference between conversations that are harmless and conversations that they should steer clear from.

Agreements between landlords to “make the most of the booming rental housing market” or “find ways to ensure that all players benefit from the strong demand equally” raise concerns under the law and could be illegal.

It is illegal for competitors to agree about:
- Rental prices, including any increases or surcharges.
- The terms of their leases, including amenities and services.
- Restricting the housing supply by artificially reducing the availability of rental units.
Engaging in illegal agreements with competitors, such as price-fixing, market allocation, restricting supply, or wage-fixing and no-poaching agreements, is a criminal offence under the Competition Act, with potential prison sentences of up to 14 years and hefty fines at the discretion of the court.

Landlords and property managers can stay on the right side of the law by:
- Deciding on their own prices, price increases, surcharges and the terms of leases.
- Explaining and negotiating the terms of leases with their tenants only.
The Bureau encourages the reporting of any suspicious activity through the Bureau’s Information Centre and online form. Those who believe that the company they work for has entered into an illegal agreement with its competitors can provide information anonymously through the Bureau’s Whistleblowing Initiative. Parties that engaged in anticompetitive activity can also come forward to seek immunity or leniency in return for their cooperation with the Bureau’s investigations.

MIL OSI Canada News –
June 26, 2025
MIL-OSI USA: Transforming Factories into Mixed-Use Housing

Source: US State of New York

overnor Kathy Hochul today announced the opening of Wood and Brooks the Lofts in the Town of Tonawanda. The $23 million mixed-use project transformed 98,370 square feet of space inside a former piano key factory into 55 apartments, and a commercial hub anchored by The Plan Room — a first of its kind, coworking space in Western New York that caters to businesses and individuals in the construction industry.

“We are working to address the housing crisis with each project we support, by creating the types of modern and sustainable homes that uplift communities and allow families to grow all over the state, including in Erie County,” Governor Hochul said. “We as a state need to build more housing in order to drive down housing affordability, and revitalizing and rehabilitating long-vacant buildings for housing and workforce development is one way we can get that done. This is another great example of what’s possible when municipalities and the state work in true partnership with nonprofits and private developers.”

This historic renovation project is located within an industrial neighborhood in the Town of Tonawanda bordering the City of Buffalo. The Wood and Brooks piano key factory at 2075 Kenmore Avenue opened in the early 1910s and was renowned for its production of ivory keys. It also played a pivotal role in manufacturing Higgins boat landing crafts during World War II. The location, which is listed in the State and National Registers of Historic Places, has been revitalized by the Wopperer family and their extended relatives, who have held ownership of the property since 1972. The building was once known for a since-removed giant elephant head on the roof, a reference to the ivory used to make the keys.

Wood and Brooks the Lofts offers a range of high-end amenities including a fitness center, on-site café, dog park and wash station, co-working and lounge areas, and 24/7 maintenance services — all designed to enhance the quality of life for residents and commercial tenants. In addition, the project promotes sustainability and preservation through participation in the New York State Brownfield Cleanup Program and utilization of federal and state historic tax credits.

A centerpiece of the development is The Plan Room, a collaborative initiative with the Construction Exchange of Buffalo & WNY. Designed for small contractors ready to move beyond working from home but not yet in need of a full-scale office, The Plan Room provides private offices, shared meeting rooms, high-speed internet, showers, a shared workshop, and large storage lockers. With capacity for over 50 construction-related businesses, it is the first dedicated coworking space of its kind in the region. The Construction Exchange, a not-for-profit organization serving the Western New York construction industry since 1981, continues its mission of supporting business growth through access to information, education, and networking. To learn more about The Plan Room, visit www.wnyplanroom.com.

Wood and Brooks Properties President Michael Wopperer said, “We are incredibly grateful to Empire State Development for their financial investment and belief in this project. The transformation of the historic Wood and Brooks factory into modern apartments and flexible workspace would not have been possible without their investment. This project is not only about restoring a landmark—it’s about creating opportunity, housing, and long-term impact in a neighborhood we’ve been proud to be part of for over 50 years.”

Empire State Development is assisting the Wood and Brooks project with a $1 million Western New York Regional Economic Development Council capital grant towards the commercial portion of the project. The New York State Office of Parks, Recreation and Historic Preservation has facilitated the use of Federal and State Historic Rehabilitation Tax Credits, providing nearly $7.88 million in equity for the project.

Empire State Development President, CEO and Commissioner Hope Knight said, “This project will deliver vital housing and catalyze economic growth through a dynamic mix of residential, workforce training and food amenities. The adaptive reuse of this long vacant former factory into high-quality homes is another step forward in the revitalization of Tonawanda. Governor Hochul understands that transforming communities into economic hubs requires housing that is accessible for all New Yorkers and is in proximity to jobs and transportation. The Wood and Brooks project is the latest demonstration of how we renew neighborhoods and increase housing opportunities.”

New York State Office of Parks, Recreation and Historic Preservation Commissioner Pro Tempore Randy Simon said, “Pairing our historic buildings with state and federal historic rehabilitation tax credit programs can generate exciting new projects along our former industrial corridors. Through partnerships and collective vision, these buildings are reborn into active spaces that look to the future while linking us to a shared past. We are honored to be part of these efforts here in Tonawanda and across the state.”

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “By turning a former piano key factory into 55 beautiful, quality apartments and a hub for coworking, this project is not only providing the homes that families need, but also cultivating a vibrant community where residents and businesses can flourish. The Wood and Brooks development is another example of Governor Hochul’s commitment to honoring New York’s history and putting existing resources to work to increase housing supply, grow local economies, and create a stronger New York.”

The Wood and Brooks project complements Governor Hochul’s economic development vision by making strategic investments in communities across the State which revitalize the economy and create more opportunities for New Yorkers. The FY26 Budget invests $100 million for the Downtown Revitalization Initiative and $100 million for NY Forward. These programs help municipalities promote quality of life, foster socio-economic development and create walkable, livable and safer neighborhoods in every corner of the state. The Budget also includes funding for the state’s Regional Economic Development Council initiative; new this year, the 10 councils will compete, in part, for $150 million in funding as part of the new ACHIEVE initiative to advance catalytic economic development projects backed by enhanced implementation funding to jump-start regional growth.

WNYREDC Co-Chair and Campus Labs Co-Founder Eric Reich said, “Today’s ribbon cutting marks the transformation of a long-vacant building into a vibrant, mixed-use development designed to support and uplift the Town of Tonawanda. Thanks to Governor Hochul’s vision, this former brownfield site has been reimagined as a beautiful residence that also includes an incubator for construction contractors who will be the driving force behind future building projects in the region.”

WNYREDC Co-Chair and Canisius University President Steve Stoute said, “Through the Regional Economic Development Council initiative, Western New York has worked to regrow its economy by increasing the level of building trades training for skilled jobs in our region. The WNYREDC appreciates added value created by the partnership between the project developer and the Construction Exchange of Buffalo & WNY, to help train future contractors and improve the skills of people already working in the field.”

ECIDA President and CEO John Cappellino said, “On behalf of the ECIDA I congratulate Wood and Brooks Properties on completing this transformational redevelopment of the former Wood and Brooks piano factory. The project was approved for sales tax and Mortgage Recording Tax benefits under ECIDA’s Adaptive Reuse program, which helps developers finance the otherwise cost-prohibitive revitalization of our region’s abandoned historic commercial properties. The project will also create much-needed workforce-affordable housing, including setting aside 10 percent of the housing units for households earning 80 percent or less of the Area Median Income.”

Assemblymember William Conrad said, “Wood and Brooks the Lofts is a truly transformational project, both in terms of the development team’s reimagination of this historic site, and because of its expansive impact on the housing market in the Town and Buffalo, including for working families seeking affordability. I had the pleasure of touring the property last year, and I was so impressed by the attention to detail, innovation, and quality in the apartments, amenities, and workspace. I thank Governor Hochul and Empire State Development for their faith in this effort and for their continued investment in the growth of Western New York.”

Tonawanda Supervisor Joseph Emminger said, “The Wood and Brooks project is one that never would have happened without the vision of Michael Wopperer and his family, and the critical support from Governor Hochul, Empire State Development, and the ECIDA. The Town of Tonawanda is proud to have played a role in making this a reality and we look forward to working with Mr. Wopperer in continuing his vision in enhancing this historic property!”

About Empire State Development

Empire State Development is New York’s chief economic development agency, and promotes business growth, job creation, and greater economic opportunity throughout the state. With offices in each of the state’s 10 regions, ESD oversees the Regional Economic Development Councils, supports broadband equity through the ConnectALL office, and is growing the workforce of tomorrow through the Office of Strategic Workforce Development. The agency engages with emerging and next generation industries like clean energy and semiconductor manufacturing looking to grow in New York State, operates a network of assistance centers to help small businesses grow and succeed, and promotes the state’s world class tourism destinations through I LOVE NY. For more information, please visit esd.ny.gov, and connect with ESD on LinkedIn, Facebook and X.

MIL OSI USA News –

June 25, 2025

MIL-OSI: CIRI Announces 2025 Annual General Meeting Voting Results

Source: GlobeNewswire (MIL-OSI)

TORONTO, June 24, 2025 (GLOBE NEWSWIRE) — The Canadian Investor Relations Institute (CIRI) is pleased to report that, at its Annual Meeting of Shareholders held on June 19, 2025, 15 nominees were elected as Directors. Scott Parsons, Senior Vice President, Corporate Development & Investor Relations, Alamos Gold Inc., was appointed Chair for a two-year term, and Adam Borgatti, Senior Vice President, Corporate Development & Investor Relations, Aecon Group Inc., was appointed Past Chair for a one-year term.

“Scott’s blend of capital markets, investor relations and corporate development experience will be beneficial as CIRI responds to the evolving needs of investor relations professionals. His expertise, coupled with his strong leadership skills, will serve CIRI well as we continue to advance the stature of the profession,” commented Adam Borgatti, Past Chair, CIRI Board of Directors.

Scott Parsons, Chair, CIRI Board of Directors, commented: “I am very excited to be taking on the role of Chair. With the support of Nathalie and the rest of this talented and diverse Board, I look forward to contributing to CIRI’s strategic direction, continuing to raise the awareness of investor relations in Canada and further promoting CIRI’s mandate to contribute to the transparency and integrity of the Canadian capital market.”

Scott Parsons is joined by four new Directors: Annemarie Brissenden, Director, Investor Relations, Refined Substance.; Brenda Dayton, Vice President, Investor Relations, Bunker Hill Mining Corporation; Stacey Pavlova, Vice President, Investor Relations & Communications, Faraday Copper Corp.; and Sarah Zapotichny, Vice President, Western Canada, Peterson Capital.

“It gives me great pleasure to announce that four accomplished individuals – Brenda, Annemarie, Stacey and Sarah – will be joining the CIRI Board. They bring extensive investor relations and capital markets expertise that will be an asset to the organization as we work together to advance the investor relations profession,” commented Scott Parsons, Chair, CIRI Board.

Annemarie Brissenden is an experienced investor relations professional and accomplished communicator who is passionate about empowering shareholders to make educated investment decisions. Over the past 25 years as an investor relations professional, she has played lead roles in several financings, an initial public offering and a spin-out. She has advised on shareholder activism, rebranded several public companies and worked on a transformative corporate merger. Annemarie is currently a member of CIRI’s Issues Committee, contributes to CIRI’s IR leader publication, and has served on two not-for-profit boards. She is a Certified Professional in Investor Relations (CPIR) and has a degree in English Literature (with Distinction) from McGill University.

Brenda Dayton is an accomplished executive with experience in corporate governance, communications and investor relations within the mining sector. Currently, Brenda serves as Vice President, Investor Relations at Bunker Hill Mining Corp., where she develops and executes marketing strategies to enhance the company’s visibility and market recognition, and manages direct communications with shareholders, stakeholders and media organizations. Brenda holds a Bachelor of Arts degree from the University of Calgary, where she received the Charles S. Noble Leadership Award and the Outstanding Graduate Award. She has completed advanced studies in negotiation, mining, capital markets and corporate governance, including the Canadian Securities Course and the Women Get on Board – Getting Board Ready Program.

Stacey Pavlova is a finance professional with 15 years of experience in the mining industry, specializing in investor relations, corporate communications, finance, and metal sales. She is currently Vice President, Investor Relations and Communications at Faraday Copper Corp., a TSX-listed exploration company advancing its flagship Copper Creek Project in the United States. In this role, Stacey leads the company’s strategic communications and investor engagement, supporting capital markets initiatives and corporate growth. Stacey serves on the Board of Directors of NiCAN Ltd., a TSX-V listed nickel exploration company, and has held several leadership roles with the Canadian Investor Relations Institute, including Board Member, Audit Committee Member, and Chair of the British Columbia Chapter. She holds the Chartered Financial Analyst designation and earned her Master’s in Finance from the University of Denver.

Sarah Zapotichny has over 20 years of experience in investor relations and corporate communications. In her current role as VP of Western Canada at Peterson Capital, she provides capital markets retail advisory to public companies across a diverse range of industries. Sarah holds a BA (Hons) in Criminology and Psychology from Simon Fraser University and has specialized training in Mediation and Third-Party Intervention from the Justice Institute of British Columbia. She has also completed the Canadian Securities Course (CSC) and the Certified Professional in Investor Relations (CPIR) program from the Rotman School of Management. Sarah serves as Chair of the Canadian Investor Relations Institute (CIRI), Alberta Chapter, where she champions excellence in investor relations and is deeply committed to mentoring the next generation of business leaders.

The following 15 individuals will serve as Directors of CIRI:

Adam Borgatti, CFA, CPIR, ICD.D	Senior Vice President, Corporate Development & Investor Relations, Aecon Group Inc.
Annemarie Brissenden, CPIR	Director, Investor Relations, Refined Substance
Brenda Dayton	Vice President, Investor Relations, Bunker Hill Mining Corporation
Bruno Di Genova, MBA	Vice President, Sales, Digicast
David Frost, LLB	Partner, McCarthy Tétrault LLP
Kevin Hallahan, CPA, CMA	Vice President, Marketing & Investor Relations, Linamar Corporation
Claire Mahaney, CFA	Vice President, Investor Relations & ESG, Primaris Real Estate Income Trust
Jennifer McCaughey, F.CIRI	Director, Investor Relations, Calian Group Ltd.
Nathalie Megann, CPIR, ICD.D	President & CEO, CIRI
Scott Parsons, CFA	Senior Vice President, Investor Relations & Corporate Development, Alamos Gold Inc.
Stacey Pavlova, CFA	Vice President, Investor Relations and Communications, Faraday Copper Corp.
Mahsa Rejali, MBA	Vice President, Corporate Development & Investor Relations, Cineplex Inc.
Quentin Weber, CPIR	Senior Advisor, Investor Relations, WSP Global Inc.
Ann Wilkinson	Vice President, Investor Relations, Mineros SA
Sarah Zapotichny	Vice President, Western Canada, Peterson Capital

The Board looks forward to engaging with fellow members and continuing to deliver value through professional development events, resources, networking opportunities and issues education and advocacy.

Curtis Pelletier, Director, Investor Relations, Graham Corporation, is retiring from the Board. Curtis has dedicated his time volunteering for the organization and has made a tremendous contribution.

“I want to thank our outgoing Board member – Curtis Pelletier – for his active involvement on the CIRI Board. He has been instrumental in advancing CIRI’s mandate, and his counsel will be missed,” said Scott Parsons, Chair, CIRI Board of Directors.

About CIRI
CIRI is a professional, not-for-profit association of executives responsible for communication between public corporations, investors and the financial community. CIRI contributes to the transparency and integrity of the Canadian capital markets by advancing the practice of investor relations, the professional competency of its members and the stature of the profession. With over 300 members and four Chapters across the country, CIRI is the voice of IR in Canada. For further information, please visit CIRI.org.

For further information, please contact:
Nathalie Megann, CPIR, ICD.D
President & CEO
Canadian Investor Relations Institute
(416) 364-8200 ext. 101
nmegann@ciri.org

The MIL Network –

June 25, 2025

MIL-OSI USA: Nation’s Largest Property Management Company to Pay Over $1.4M for Unlawful Charges on Military Servicemembers

Source: US State of North Dakota

The Justice Department announced today that Greystar Real Estate Partners LLC will pay over $1.4 million to resolve allegations that it violated the Servicemembers Civil Relief Act (SCRA) when it imposed illegal fees on military servicemembers who terminated their leases after receiving military relocation orders.

The Department alleged that Greystar, the nation’s largest property management company with over 800,000 housing units under management, relied on software that it knew would automatically impose early termination charges on SCRA-protected servicemembers.

Greystar will set aside $1.35 million to pay affected military members and their co-tenants and will pay a $77,370 civil penalty. Greystar will pay triple damages to the servicemembers who paid the early termination charges. The company will also make changes to its policies and training, including adopting SCRA-compliant software and forms at all its properties.

“We honor the service and sacrifices of our military by defending their rights under the law,” said Assistant Attorney General Harmeet K. Dhillon of the Justice Department’s Civil Rights Division. “We are aggressively enforcing all laws, including the Servicemembers Civil Relief Act, to protect our military servicemembers and veterans.”

“America’s servicemembers devote their lives to defending our nation and must be able to do so without undue burdens,” said U.S. Attorney Bryan Stirling for the District of South Carolina. “The Servicemembers Civil Relief Act protects our military families from unfair hardships such as penalties for terminating a housing lease to fulfill military orders. We will continue to defend and support those who keep our country safe.”

The Department’s enforcement of the SCRA is conducted by the Civil Rights Division’s Housing and Civil Enforcement Section in partnership with U.S. Attorneys’ Offices throughout the country. Since 2011, the Department has obtained over $483 million in monetary relief for over 148,000 servicemembers through its enforcement of the SCRA. For more information about the department’s SCRA enforcement efforts, please visit www.servicemembers.gov.

Servicemembers and their dependents who believe that their rights under the SCRA may have been violated should contact the nearest Armed Forces Legal Assistance Program Office. Office locations can be found at legalassistance.law.af.mil.

MIL OSI USA News –

June 25, 2025
MIL-OSI USA: Nation’s Largest Property Management Company to Pay Over $1.4M for Unlawful Charges on Military Servicemembers

Source: US State of North Dakota

The Justice Department announced today that Greystar Real Estate Partners LLC will pay over $1.4 million to resolve allegations that it violated the Servicemembers Civil Relief Act (SCRA) when it imposed illegal fees on military servicemembers who terminated their leases after receiving military relocation orders.

The Department alleged that Greystar, the nation’s largest property management company with over 800,000 housing units under management, relied on software that it knew would automatically impose early termination charges on SCRA-protected servicemembers.

Greystar will set aside $1.35 million to pay affected military members and their co-tenants and will pay a $77,370 civil penalty. Greystar will pay triple damages to the servicemembers who paid the early termination charges. The company will also make changes to its policies and training, including adopting SCRA-compliant software and forms at all its properties.

“We honor the service and sacrifices of our military by defending their rights under the law,” said Assistant Attorney General Harmeet K. Dhillon of the Justice Department’s Civil Rights Division. “We are aggressively enforcing all laws, including the Servicemembers Civil Relief Act, to protect our military servicemembers and veterans.”

“America’s servicemembers devote their lives to defending our nation and must be able to do so without undue burdens,” said U.S. Attorney Bryan Stirling for the District of South Carolina. “The Servicemembers Civil Relief Act protects our military families from unfair hardships such as penalties for terminating a housing lease to fulfill military orders. We will continue to defend and support those who keep our country safe.”

The Department’s enforcement of the SCRA is conducted by the Civil Rights Division’s Housing and Civil Enforcement Section in partnership with U.S. Attorneys’ Offices throughout the country. Since 2011, the Department has obtained over $483 million in monetary relief for over 148,000 servicemembers through its enforcement of the SCRA. For more information about the department’s SCRA enforcement efforts, please visit www.servicemembers.gov.

Servicemembers and their dependents who believe that their rights under the SCRA may have been violated should contact the nearest Armed Forces Legal Assistance Program Office. Office locations can be found at legalassistance.law.af.mil.

MIL OSI USA News –

June 25, 2025
MIL-OSI Security: Nation’s Largest Property Management Company to Pay Over $1.4M for Unlawful Charges on Military Servicemembers

Source: United States Attorneys General

The Justice Department announced today that Greystar Real Estate Partners LLC will pay over $1.4 million to resolve allegations that it violated the Servicemembers Civil Relief Act (SCRA) when it imposed illegal fees on military servicemembers who terminated their leases after receiving military relocation orders.

The Department alleged that Greystar, the nation’s largest property management company with over 800,000 housing units under management, relied on software that it knew would automatically impose early termination charges on SCRA-protected servicemembers.

Greystar will set aside $1.35 million to pay affected military members and their co-tenants and will pay a $77,370 civil penalty. Greystar will pay triple damages to the servicemembers who paid the early termination charges. The company will also make changes to its policies and training, including adopting SCRA-compliant software and forms at all its properties.

“We honor the service and sacrifices of our military by defending their rights under the law,” said Assistant Attorney General Harmeet K. Dhillon of the Justice Department’s Civil Rights Division. “We are aggressively enforcing all laws, including the Servicemembers Civil Relief Act, to protect our military servicemembers and veterans.”

“America’s servicemembers devote their lives to defending our nation and must be able to do so without undue burdens,” said U.S. Attorney Bryan Stirling for the District of South Carolina. “The Servicemembers Civil Relief Act protects our military families from unfair hardships such as penalties for terminating a housing lease to fulfill military orders. We will continue to defend and support those who keep our country safe.”

The Department’s enforcement of the SCRA is conducted by the Civil Rights Division’s Housing and Civil Enforcement Section in partnership with U.S. Attorneys’ Offices throughout the country. Since 2011, the Department has obtained over $483 million in monetary relief for over 148,000 servicemembers through its enforcement of the SCRA. For more information about the department’s SCRA enforcement efforts, please visit www.servicemembers.gov.

Servicemembers and their dependents who believe that their rights under the SCRA may have been violated should contact the nearest Armed Forces Legal Assistance Program Office. Office locations can be found at legalassistance.law.af.mil.

MIL Security OSI –

June 25, 2025
MIL-OSI Economics: Existing Home Sales Forecast Revised Lower in Latest Outlook

Source: Fannie Mae

WASHINGTON, DC – Existing single-family home sales are forecast at 4.14 million units for 2025, down slightly from last month’s forecast of 4.24 million units, according to the June 2025 Economic and Housing Outlook from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group. Revisions to the home sales forecast were driven in part by the ESR Group’s higher expectations for mortgage rates, which are now predicted to end 2025 and 2026 at 6.5% and 6.1%, respectively. The latest outlook also projects real gross domestic product growing at 1.4% in 2025 and 2.2% in 2026 on a Q4/Q4 basis.

Visit the Economic and Strategic Research site at fanniemae.com to read the full June 2025 Economic and Housing Outlook, including the Economic Developments Commentary, Economic Forecast, and Housing Forecast. To receive email updates with other housing market research from Fannie Mae’s Economic and Strategic Research Group, please click here.

Opinions, analyses, estimates, forecasts, beliefs, and other views of Fannie Mae’s Economic and Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, beliefs, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, beliefs, and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.

About the ESR Group
Fannie Mae’s Economic and Strategic Research Group, led by Chief Economist Mark Palim, studies current data, analyzes historical and emerging trends, and conducts surveys of consumer and mortgage lenders to inform forecasts and analyses on the economy, housing, and mortgage markets.

MIL OSI Economics –

June 24, 2025
MIL-OSI: Federal Home Loan Banks Publish Comprehensive 2024 Impact Report
Source: GlobeNewswire (MIL-OSI)

WASHINGTON, June 23, 2025 (GLOBE NEWSWIRE) — The Federal Home Loan Banks (FHLBanks), member-owned cooperatives that power communities, announced today the release of their 2024 Impact Report, highlighting their continued reliability as a liquidity provider and a landmark year of support for housing affordability and community development across the United States. Together, the 11 regional FHLBanks ended the year with more than $737 billion in advances outstanding, nearly $220 billion in outstanding letters of credit, and nearly $70 billion in mortgage loans held. They also committed more than $1.2 billion to housing programs and voluntary initiatives – setting a new high-water mark in the System’s 90+ year history. The Affordable Housing Program alone supported projects representing an estimated $8.9 billion in total development costs in 2024, demonstrating the integral role the FHLBanks play in expanding housing supply and economic opportunity.

In 2024, the FHLBanks continued to deliver on their mission to provide reliable liquidity to nearly 6,500 financial institution members, while promoting access to safe, affordable housing in urban, suburban, and rural communities alike, transforming capital into community impact.

“We are proud to be a dependable partner for America’s housing finance system and a critical component of our nation’s economic vitality,” said Ryan Donovan, president and CEO of the Council of Federal Home Loan Banks, the public voice of the FHLBank System. “The results demonstrated by our impact in 2024 reflect our deep-rooted commitment to expanding opportunity through responsible funding, innovative partnerships, and community-led solutions. When local financial institutions thrive, so do the communities they serve, and we provide the stability and strategic support our members depend on to stimulate economic opportunity.”

Key 2024 Highlights:
- $737 billion in advances outstanding to member institutions at year-end, ensuring the flow of affordable credit to local economies, especially during times of economic uncertainty.
- $220 billion in total notional amount of outstanding letters of credit, helping members attract municipal deposits, keeping local funds in the community.
- $70 billion in mortgage loans held at year-end, with nearly $15 billion in new mortgage loans purchased in 2024, 28% of which assisted low-income families.
- $752 million in Affordable Housing Program (AHP) funding expensed, enabling the creation or preservation of over 26,000 housing units, 83% of which were multifamily developments.
- $528 million in voluntary contributions for housing and economic development, including down payment assistance, disaster recovery, and regional capacity-building efforts.
- Over 14,000 first-time homeowners supported through AHP grants.
- $9.2 billion in Community Investment Program (CIP) advances for housing outstanding at year-end and $2.4 billion in Community Investment Cash Advances (CICA) for economic development outstanding at year-end, preserving over 12,500 jobs.
As the housing market continues to evolve, the FHLBanks remain committed to addressing persistent affordability challenges and ensuring that local lenders have the capital and tools needed to serve their communities effectively.

For an introductory video and to read the full 2024 Impact Report click here.

About: The FHLBanks are 11 regionally based, wholesale suppliers of lendable funds to financial institutions of all sizes and many types, including community banks, credit unions, commercial and savings banks, insurance companies, and community development financial institutions. The FHLBanks are cooperatively owned by member financial institutions in all 50 states and U.S. territories. The steady supply of lendable funds from FHLBanks helps U.S. lenders invest in local needs including housing, jobs, and economic growth. The Council of FHLBanks represents all 11 FHLBanks.

CONTACT INFORMATION
Council of FHLBanks
Peter E. Garuccio
202-955-0002 ext. 14
pgaruccio@cfhlb.org

The MIL Network –
June 24, 2025
MIL-OSI: Federal Home Loan Banks Publish Comprehensive 2024 Impact Report
Source: GlobeNewswire (MIL-OSI)

WASHINGTON, June 23, 2025 (GLOBE NEWSWIRE) — The Federal Home Loan Banks (FHLBanks), member-owned cooperatives that power communities, announced today the release of their 2024 Impact Report, highlighting their continued reliability as a liquidity provider and a landmark year of support for housing affordability and community development across the United States. Together, the 11 regional FHLBanks ended the year with more than $737 billion in advances outstanding, nearly $220 billion in outstanding letters of credit, and nearly $70 billion in mortgage loans held. They also committed more than $1.2 billion to housing programs and voluntary initiatives – setting a new high-water mark in the System’s 90+ year history. The Affordable Housing Program alone supported projects representing an estimated $8.9 billion in total development costs in 2024, demonstrating the integral role the FHLBanks play in expanding housing supply and economic opportunity.

In 2024, the FHLBanks continued to deliver on their mission to provide reliable liquidity to nearly 6,500 financial institution members, while promoting access to safe, affordable housing in urban, suburban, and rural communities alike, transforming capital into community impact.

“We are proud to be a dependable partner for America’s housing finance system and a critical component of our nation’s economic vitality,” said Ryan Donovan, president and CEO of the Council of Federal Home Loan Banks, the public voice of the FHLBank System. “The results demonstrated by our impact in 2024 reflect our deep-rooted commitment to expanding opportunity through responsible funding, innovative partnerships, and community-led solutions. When local financial institutions thrive, so do the communities they serve, and we provide the stability and strategic support our members depend on to stimulate economic opportunity.”

Key 2024 Highlights:
- $737 billion in advances outstanding to member institutions at year-end, ensuring the flow of affordable credit to local economies, especially during times of economic uncertainty.
- $220 billion in total notional amount of outstanding letters of credit, helping members attract municipal deposits, keeping local funds in the community.
- $70 billion in mortgage loans held at year-end, with nearly $15 billion in new mortgage loans purchased in 2024, 28% of which assisted low-income families.
- $752 million in Affordable Housing Program (AHP) funding expensed, enabling the creation or preservation of over 26,000 housing units, 83% of which were multifamily developments.
- $528 million in voluntary contributions for housing and economic development, including down payment assistance, disaster recovery, and regional capacity-building efforts.
- Over 14,000 first-time homeowners supported through AHP grants.
- $9.2 billion in Community Investment Program (CIP) advances for housing outstanding at year-end and $2.4 billion in Community Investment Cash Advances (CICA) for economic development outstanding at year-end, preserving over 12,500 jobs.
As the housing market continues to evolve, the FHLBanks remain committed to addressing persistent affordability challenges and ensuring that local lenders have the capital and tools needed to serve their communities effectively.

For an introductory video and to read the full 2024 Impact Report click here.

About: The FHLBanks are 11 regionally based, wholesale suppliers of lendable funds to financial institutions of all sizes and many types, including community banks, credit unions, commercial and savings banks, insurance companies, and community development financial institutions. The FHLBanks are cooperatively owned by member financial institutions in all 50 states and U.S. territories. The steady supply of lendable funds from FHLBanks helps U.S. lenders invest in local needs including housing, jobs, and economic growth. The Council of FHLBanks represents all 11 FHLBanks.

CONTACT INFORMATION
Council of FHLBanks
Peter E. Garuccio
202-955-0002 ext. 14
pgaruccio@cfhlb.org

The MIL Network –
June 24, 2025
MIL-OSI Security: Jacksonville Property Management Company to Pay Compensation and Penalties for Imposing Unlawful Charges on U.S. Military Servicemembers

Source: United States Attorneys General

The Justice Department resolved an enforcement matter against JWB Real Estate Management for violating the Servicemembers Civil Relief Act (SCRA) when it imposed illegal early termination charges on military servicemembers who terminated their leases after receiving military relocation orders.

JWB Property Management, a property management company based in Jacksonville, Florida, imposed early termination fees on at least six members of the U.S. military after they attempted to terminate their leases in accordance with the SCRA.

As a result of the Department’s enforcement, JWB will be required to pay over $39,000 in compensation to the affected servicemembers, as well as a $25,000 civil penalty. The company will also make changes to its policies and training to ensure that it complies with the SCRA in the future.

“Our military families already shoulder the burden of military-ordered moves and deployments,” said Assistant Attorney General Harmeet K. Dhillon of the Justice Department’s Civil Rights Division. “We will not allow them to be penalized by landlords for answering the call of duty for service.”

“The U.S. Attorney’s Office for the Middle District of Florida is committed to protecting the rights of all our servicemembers,” said U.S. Attorney Gregory W. Kehoe for the Middle District of Florida. “Our servicemembers make tremendous sacrifices to protect the rights and freedoms of our citizens and we will combat all forms of discrimination against them to help ensure that they are able to fulfill their military obligations.”

The Department’s enforcement of the SCRA is conducted by the Civil Rights Division’s Housing and Civil Enforcement Section. Since 2011, the Department has obtained over $483 million in monetary relief for over 148,000 servicemembers through its enforcement of the SCRA. For more information about the department’s SCRA enforcement efforts, please visit www.servicemembers.gov.

Servicemembers and their dependents who believe that their rights under the SCRA may have been violated should contact the nearest Armed Forces Legal Assistance Program Office. Office locations can be found at legalassistance.law.af.mil.

MIL Security OSI –

June 24, 2025
MIL-OSI USA: Jacksonville Property Management Company to Pay Compensation and Penalties for Imposing Unlawful Charges on U.S. Military Servicemembers

Source: US State of North Dakota

The Justice Department resolved an enforcement matter against JWB Real Estate Management for violating the Servicemembers Civil Relief Act (SCRA) when it imposed illegal early termination charges on military servicemembers who terminated their leases after receiving military relocation orders.

JWB Property Management, a property management company based in Jacksonville, Florida, imposed early termination fees on at least six members of the U.S. military after they attempted to terminate their leases in accordance with the SCRA.

As a result of the Department’s enforcement, JWB will be required to pay over $39,000 in compensation to the affected servicemembers, as well as a $25,000 civil penalty. The company will also make changes to its policies and training to ensure that it complies with the SCRA in the future.

“Our military families already shoulder the burden of military-ordered moves and deployments,” said Assistant Attorney General Harmeet K. Dhillon of the Justice Department’s Civil Rights Division. “We will not allow them to be penalized by landlords for answering the call of duty for service.”

“The U.S. Attorney’s Office for the Middle District of Florida is committed to protecting the rights of all our servicemembers,” said U.S. Attorney Gregory W. Kehoe for the Middle District of Florida. “Our servicemembers make tremendous sacrifices to protect the rights and freedoms of our citizens and we will combat all forms of discrimination against them to help ensure that they are able to fulfill their military obligations.”

The Department’s enforcement of the SCRA is conducted by the Civil Rights Division’s Housing and Civil Enforcement Section. Since 2011, the Department has obtained over $483 million in monetary relief for over 148,000 servicemembers through its enforcement of the SCRA. For more information about the department’s SCRA enforcement efforts, please visit www.servicemembers.gov.

Servicemembers and their dependents who believe that their rights under the SCRA may have been violated should contact the nearest Armed Forces Legal Assistance Program Office. Office locations can be found at legalassistance.law.af.mil.

MIL OSI USA News –

June 24, 2025
MIL-OSI United Kingdom: Developer appointed for 51 affordable homes in Littlemore

Source: City of Oxford

Oxford City Council’s housing company, OX Place, will work with Equans to build 51 sustainable council and shared ownership homes off Sandy Lane West in Littlemore.

This includes 27 flats let at social rent for people on the housing register, and 24 flats for shared ownership.

Social rent levels mean council tenants will typically pay around 40% of the rent a private landlord would charge for the same home. Shared ownership is a flexible option which helps a range of people onto the housing ladder in one of the UK’s most unaffordable cities.

OX Place and Equans working together for sustainable homes

The new partnership allows enabling works to begin on the site of the former Northfield Hostel, a SEND school that closed in 2014 and was demolished last year. It is expected that groundbreaking will happen later this summer.

In addition to the 51 homes already planned, the Council is exploring planning permission for a further 10 homes on the hostel’s adjacent sports field, which has been boarded up since the school closed. These would be built once the 51 flats are completed.

Equans has extensive experience working with local authorities to deliver vibrant, efficient and sustainable communities, using integrated energy and decarbonisation measures that make a real difference to people’s lives.

Comment

“Oxford needs homes, and this partnership marks the first step towards over 50 new affordable and sustainable ones for the people of Oxford.

“It is good that after a decade when it has been underused, we are exploiting this site for a development where the majority of homes will be much needed social housing.

“I look forward to work getting underway and new homes being delivered.”

Councillor Nigel Chapman, Cabinet Member for Citizen Focused Services and Council Companies

“OX Place and Equans are both experts at delivering great, sustainable developments and I’m confident this partnership will do just that.”

Kevin Lowry, Interim Managing Director at OX Place

“We are thrilled to be underway with the Northfield project for our valued client, OX Place, on behalf of Oxford City Council.

“Delivering 53 much-needed, sustainable homes in Littlemore presents a fantastic opportunity to make a real difference in one of the UK’s most challenging housing markets. This marks an exciting new chapter in our strong, trusted partnership with OX Place, built over the past three years.

“We’re proud to play a part in creating high-quality homes that meet both community needs and environmental goals.”

Rob Young, Regional Managing Director, Equans

MIL OSI United Kingdom –

June 23, 2025
MIL-OSI Australia: Budget supports more homes for Canberrans
Source: Northern Territory Police and Fire Services
- This article outlines the various measures being supported by the Budget.
The 2025-26 ACT Budget supports the delivery of more homes for Canberrans.

Practical initiatives will:
boost supply
increase affordability
deliver diverse housing to suit different stages of life.
As well as investing in affordable homes now, the Budget lays the foundations for more equitable housing in future.

Key initiatives include:
an increase to the stamp duty concession threshold to above $1 million for all eligible purchasers
85 new public housing dwellings delivered through community housing providers under the Housing Australia Future Fund Facility (HAFFF)
additional funding for the Affordable Housing Project Fund
300 affordable Build-to-Rent homes
seven new social housing townhouses acquired in Coombs under the Social Housing Accelerator
ongoing investment in the Growing and Renewing Public Housing Program to maintain and expand Canberra’s public housing portfolio.
Stamp duty concessions

Stamp duty concessions will be expanded.

This makes it easier for Canberrans to enter the market and find a home that suits their needs.

From 1 July 2025, the Government will also increase the price threshold for the Home Buyer Concession Scheme, the Pensioner Duty Concession Scheme and the Disability Duty Concession Scheme.

Price thresholds will be indexed annually to the Canberra Consumer Price Index. In 2025-26, the threshold will be $1.02 million.

In 2025–26, eligible Canberrans looking to buy a new apartment, townhouse or a unit-titled property off-the-plan or in a suburban area (RZ1) for $1.02 million or less may be exempt from paying stamp duty.

This exemption aims to support development of dual occupancy properties on RZ1 blocks, contributing to more housing choice, access and affordability in our suburbs.

Reducing stamp duty will help to lower barriers to Canberrans seeking to fulfil their goal of home ownership.

Boosting the housing supply pipeline

The ACT Government is committed to enabling 30,000 new homes by 2030.

This is in partnership with the Australian Government.

Budget investment will kickstart a significant pipeline of new housing. A range of policy initiatives and industry incentives will support this.

The Housing Supply and Land Release Program
The release of Government land will support nearly 26,000 homes over the next five years.
Direct investment will build social and affordable housing.
It’s expected new planning reforms will allow thousands more homes to be delivered on leased land.
Housing where and how Canberrans want to live

Budget investment will make it easier for people to find the home they need.

It will help Canberrans at all stages of life, whether they’re buying their first home, raising a family, ageing in place, or in need of supported housing.

This includes:
direct investment in new social and affordable homes
modernising the planning system to support medium-density supply
targeted reforms to improve fairness and choice in the housing market.
Streamlining planning in the ACT

The ACT Government is also continuing the planning work needed to ensure Canberra grows in a smart, inclusive and sustainable way.

This includes:
planning for new housing and community facilities in well-located areas. This applies particularly to those around town centres, local shops and public transport corridors.
funding to support the Construction Productivity Agenda for the ACT of the new Planning Act. This is aimed at streamlining approvals and making things clearer for developers and the community.
Supporting apprentices in the construction industry

The ACT Government is also investing in construction skills and trades and productivity.

The Budget supports an increase to apprenticeship subsidies for training in six key construction trades.

Subsidies will rise to 90 per cent. This increase builds on existing investment in electrotechnology apprenticeships.

Investing in industry training will shape the workforce needed to build more homes.

Developing a future construction workforce

The ACT Government is also investing in measures to further build the workforce needed to meet housing targets. These include:
an increase in training subsidies to 90 per cent for carpenters, plumbers, tilers, bricklayers and other critical construction trades
the Try-a-Trade program in ACT public high schools to support more young women to enter the construction industry
a $250 cost-of-living payment to apprentices and trainees
an extra $250 for first-year apprentices and trainees. This complements the $10,000 payments available under the Commonwealth’s residential construction training incentive.
The Government will also continue to progress missing middle housing reforms, as well as supporting more well-located homes close to transport, services and jobs.
Get ACT news and events delivered straight to your inbox, sign up to our email newsletter:

MIL OSI News –
June 23, 2025
MIL-OSI Australia: ACT Budget 25-26: 30,000 new homes to provide more housing for Canberrans
Source: Northern Territory Police and Fire Services

As part of ACT Government’s ‘One Government, One Voice’ program, we are transitioning this website across to our . You can access everything you need through this website while it’s happening.
Released 23/06/2025 – Joint media release

The Government is supporting the delivery of more homes for Canberrans where and how they want to live.

The Territory Budget will invest more than $145 million to kickstart a significant pipeline of homes for our growing city. This supply pipeline will be supported through a range of policy initiatives and industry incentives.

In partnership with the Australian Government, and our commitments under the national housing accord, the ACT Government has a clear plan to enable 30,000 new homes by 2030.

The Housing Supply and Land Release Program released today demonstrates how the Government will achieve this target, with government land release to support nearly 26,000 homes over the next five years, direct investment to build social and affordable housing, and thousands more homes expected to be delivered on leased land enabled by new planning reforms.

The investments through the Budget will make it easier for Canberrans to find the home they need, whether they’re buying their first home, raising a family, ageing in place, or in need of supported housing.

This includes direct investment in new social and affordable homes, modernising the planning system to support medium-density supply, and targeted reforms to improve fairness and choice in the housing market.

At the same time, the Government will be increasing apprenticeship subsidies for training in six key construction trades to 90 per cent, building on our existing investment in electrotechnology apprenticeships.

This significant investment in training for the construction industry will shape the workforce Canberra needs to build more homes for a generation.

The Budget supports a wide range of practical initiatives to boost supply, increase affordability and deliver homes that suit different stages of life:
- Increasing eligibility for stamp duty concessions for all eligible purchasers’ price threshold above $1 million.
- 85 new public housing dwellings delivered through Community Housing Providers under the Housing Australia Future Fund Facility (HAFFF).
- $20 million additional funding for the Affordable Housing Project Fund, increasing the total to $100 million.
- 300 affordable Build-to-Rent homes.
- 17 new social housing townhouses acquired in Coombs under the Social Housing Accelerator.
- Ongoing investment in the Growing and Renewing Public Housing Program to maintain and expand Canberra’s public housing portfolio.
In addition to new home construction, the ACT Government is continuing the planning work needed to ensure Canberra grows in a smart, inclusive and sustainable way.

This includes:
- Planning for new housing and community facilities in well-located areas, particularly around town centres, local shops and public transport corridors.
- Funding to support the Construction Productivity Agenda for the ACT of the new Planning Act, aimed at streamlining approvals and increasing clarity for developers and the community.
To support our plans to enable 30,000 homes by 2030, the Budget supports the development of a future construction workforce, including:
- An increase in training subsidies to 90% for carpenters, plumbers, tilers, bricklaying and other critical construction trades.
- The Try-a-Trade program in ACT public high schools to support more young women to enter the construction industry.
- $250 cost-of-living payments to apprentices and trainees, including an extra $250 for first year apprentices, building on the $10,000 payments available under the Commonwealth’s residential construction training incentive.
Chief Minister Andrew Barr said housing remains a central investment priority as Canberra grows.

“Canberrans need homes where they want to live that are affordable, sustainable and well-designed,” the Chief Minister said.

“This Budget brings together land release, planning reform, housing delivery and tax reform to meet the needs of a changing city and enable 30,000 new homes by 2030.”

Deputy Chief Minister Yvette Berry said the Budget delivers both practical results and a pathway to lasting change.

“We’re investing in affordable homes now and laying the foundations for a more equitable, more liveable city,” Minister Berry said.

“A stable home is essential for a good life, which is why we’re partnering with the Commonwealth Government to get more homes built than ever before.”

Treasurer Chris Steel said that the Budget demonstrates how the ACT Government is taking action on housing supply from all sides to support 30,000 new homes and making Canberra a more affordable place to live.

“Housing is a key priority for our Government in the Budget. These targets will be achieved through budget investment to build more social and affordable homes, undertaking the next stages of planning reform, further land release and investment in supporting infrastructure,” Minister Steel said.

“We will continue to progress missing middle housing reforms, as well as supporting more well-located homes close to transport, services and jobs.

“The investment in construction skills, trades and productivity will make a real difference to getting more quality homes built more quickly, boosting our economy and helping to reduce inequality.”

Finance Minister Rachel Stephen-Smith said reforms to stamp duty are part of the Government’s broader approach to making housing more accessible.

“By expanding stamp duty concessions to more homebuyers, we’re making it easier for Canberrans to enter the market and find a home that suits their needs.”

Minister for Skills, Training and Industrial Relations Michael Pettersson said that the ACT Government was delivering on election commitments to strengthen Canberra’s construction workforce.

“We promised to make training in the construction trades more accessible for Canberrans who want to develop the skills they need to get a good, secure job – and now we’re delivering.”

– Statement ends –

Andrew Barr, MLA | Yvette Berry, MLA | Chris Steel, MLA | Rachel Stephen-Smith, MLA | Michael Pettersson, MLA | Media Releases

«ACT Government Media Releases | «Minister Media Releases
MIL OSI News –
June 23, 2025
MIL-OSI USA: Rep. Mike Levin Introduces Bipartisan Legislation to Support Access to Affordable Military Housing

Source: United States House of Representatives – Representative Mike Levin (CA-49)

June 20, 2025

Washington, D.C.—Today, Reps. Mike Levin (CA-49) and Jen Kiggans (VA-02) introduced the bipartisan Service Member Housing Relief Act, which would give the Secretary of Defense greater flexibility to respond to cost-of-living spikes in Military Housing Areas (MHAs) nationwide. This would help service members afford to live in San Diego and Orange counties.

In recent years, the Secretary of Defense has been temporarily authorized to increase the basic allowance for housing (BAH) where cost of living rises more than 20% over the previous year. Yet, service members and their families continue to report significant cost-of-living spikes at their assigned duty stations around the country, often with some costs rising more quickly and frequently than BAH can account for.

The bill would reduce the threshold for granting mid-year temporary BAH increases from 20% to 15% of the overall increase in cost of living from the previous year. It also makes the Secretary of Defense’s authority permanent. In effect, the bill would give service members and their families more affordable and accessible housing options to avoid excessively long commutes, potentially hazardous living conditions, and ultimately better fit their needs.

“This bipartisan bill addresses housing affordability issues facing service members across the country, including those stationed at Marine Corps Base Camp Pendleton,” said Rep. Levin. “It increases the resources available to pay for housing and expands military housing options to ensure service members and their families are able to live and work in close proximity. I look forward to pushing this bill through the legislative process and garnering more bipartisan support for our men and women in uniform.”

“As a Navy veteran, I know firsthand how critical stable, affordable housing is to our military families’ quality of life and mission readiness,” said Rep. Kiggans. “The Service Member Housing Relief Act is a commonsense, bipartisan solution to address the rising cost of living in many military communities. By lowering the threshold for BAH adjustments and making DoD’s authority permanent, we can ensure our servicemembers aren’t forced to choose between safe housing and supporting their families. I’m proud to support this bill because our military families deserve better—and we owe them nothing less.”

“MFAN’s research—alongside data from the Department of Defense and other leading organizations—consistently demonstrates that the Basic Allowance for Housing (BAH) falls short in many housing markets across the country,” said Shannon Razsadin, CEO of the Military Family Advisory Network (MFAN). “In fact, our 2023 Military Family Support Programming Survey found that 52.5% of active-duty families spent more than $250 out-of-pocket each month beyond their housing allowance. The data makes clear: housing insecurity is directly linked to broader challenges, including food insecurity, mental health, retention, and propensity to recommend military service. We applaud this bipartisan initiative. Military families don’t get to choose when or where they move—those decisions are made for them in service to our country. The very least we can do is ensure their compensation keeps pace with the real costs of providing a safe place for their family to call home.”

The bill is supported by: Military Family Advisory Network (MFAN).

Full text of the bill can be found here.

##

MIL OSI USA News –

June 21, 2025
MIL-OSI Africa: Call for Entries: Africa Property Investment Awards 2025 Submit Your Applications by 30 June!

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

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

Why enter the API Awards?

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

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

Spotlight on 2024 winners: Success stories that inspire

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

AlleyRoads: Best Affordable Housing Development 2024

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

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

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

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

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

REdimension Capital: Dealmakers of the Year 2024

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

Says Clark and Marshall:

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

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

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

Submit Your Entry Today – Deadline Extended to 30 June 2025

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

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

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

Distributed by APO Group on behalf of API Events.

Distributed for API Events by Dmix:
API Events
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Email: Murray@apievents.com
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MIL OSI Africa –

June 21, 2025
MIL-OSI United Kingdom: First students graduate from Aberdeen and South China Normal University joint institute The first cohort of students from the University of Aberdeen and South China Normal University’s Joint Institute have graduated at a special ceremony.

Source: University of Aberdeen

The first cohort of students from the University of Aberdeen and South China Normal University’s Joint Institute have graduated at a special ceremony.
Around 180 students from the Aberdeen Institute of Data Science and Artificial Intelligence at South China Normal University (SCNU) received their degrees during the event held in Guangdong Province on June 19.
The students graduated from three four-year undergraduate BSc programmes in Artificial Intelligence, Computing Science, and Business Management and Information Systems while friends and family watched on.
The Joint Institute, located on SCNU’s vibrant Foshan campus, was the result of long-established links between the two universities, having collaborated on joint programmes in Real Estate, Finance and Computing Science over almost 20 years.

The Joint Institute was set up after years of successful collaboration and partnership with SCNU and supports the University of Aberdeen’s ambitions to expand our international networks and partnerships.” Professor Siladitya Bhattacharya

The Joint Institute has experienced rapid growth since its inception in 2021 reflecting its commitment to high-standard education and cutting-edge research.
Professor Peter Edwards, Acting Senior Vice-Principal said: “Having been involved from the earliest days of the design and planning of the Aberdeen Institute of Data Science and Artificial Intelligence at South China Normal University, and as a Computer Scientist myself, it was wonderful to be able to join our new graduates as they celebrated the outcome of four years of hard work.”
Professor Siladitya Bhattacharya, Vice-Principal (Global Engagement) said: “The Joint Institute was set up after years of successful collaboration and partnership with SCNU and supports the University of Aberdeen’s ambitions to expand our international networks and partnerships.
“We have already seen excellent growth here, with students attracted to our collaborative, interdisciplinary approach and industry engagement which ensures our graduates are well-prepared to tackle global challenges and drive future technological advancements. We look forward to its continuing success.”

Related Content

MIL OSI United Kingdom –

June 20, 2025
MIL-OSI Africa: Accor Signs Novotel Victoria Falls, Marking Strategic Market Entry into Zimbabwe

Accor (www.Group.Accor.com), a world-leading hospitality group, has announced the signing of Novotel Victoria Falls, a landmark project set within Victoria Falls – a UNESCO World Heritage Site and one of the Seven Natural Wonders of the World.

The agreement, signed during the Future Hospitality Summit (FHS) Africa, marks Accor’s market entry into Zimbabwe, leveraging a first-mover advantage in one of Africa’s most iconic destinations and underscoring the Group’s commitment to pioneering development in emerging markets.

Scheduled to open in 2028, the 111-key new-build property will be developed under a management agreement with Eagle Real Estate Investment Trust, a Development REIT focused on high-quality assets across tourism, hospitality, health, retail, and residential sectors.

Located in the Eagle Heights precinct, in a prime location overlooking the Masuwe River, the hotel will blend natural beauty with Novotel’s modern, family-friendly hospitality. Guests will enjoy a thoughtfully designed experience, with facilities including an outdoor swimming pool, kids’ club, all-day dining restaurant, and destination bar – designed to meet the needs of modern travellers seeking comfort, connection, and local discovery.

Known locally as Mosi-oa-Tunya or “The Smoke That Thunders”, Victoria Falls is not only a dramatic natural wonder but also a world-renowned hub for adventure tourism, offering white-water rafting, bungee jumping, and scenic helicopter flights.

“This signing represents a bold step forward in our development strategy for Sub-Saharan Africa,” said Maya Ziade, Chief Development Officer, Premium, Midscale & Economy Division, Middle East, Africa & Türkiye at Accor. “Victoria Falls is one of the world’s most extraordinary destinations, and we are proud to bring the Novotel brand experience to Zimbabwe for the very first time. As a first mover, we see this project as a gateway to long-term sustainable growth in the country.”

The signing signals a strategic entry for Accor into a destination with growing regional and domestic tourism and a limited presence of global hotel brands.

Bevin Ngara, Managing Director of Eagle Asset Managers, the Eagle REIT Fund Managers, added: “We are delighted to partner with Accor to bring an international standard of hospitality to Victoria Falls. This project reflects our vision of investing in transformative developments that elevate tourism and deliver value to local communities and investors alike.”

Novotel, with over 590 hotels across 68 countries and 180+ more in the pipeline, champions balanced living for both business travellers and families. As the first internationally branded Novotel in Zimbabwe, the hotel will meet the rising demand for high-quality yet accessible accommodation in Victoria Falls supporting the city’s evolution into a year-round destination for families, nature lovers, and adventure seekers.

Distributed by APO Group on behalf of Accor.

Contacts media relations:
Cybelle Daou Khadij
Director PR & Communications
Middle East, Africa and Türkiye
Cybelle.daou@accor.com

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About Accor:
Accor is a world-leading hospitality group offering stays and experiences across more than 110 countries with over 5,600 hotels and resorts, 10,000 bars & restaurants, wellness facilities and flexible workspaces. The Group has one of the industry’s most diverse hospitality ecosystems, encompassing more than 45 hotel brands from luxury to economy, as well as Lifestyle, with Ennismore. ALL Accor, the booking platform and loyalty program embodies the Accor promise during and beyond the hotel stay and gives its members access to unique experiences. Accor is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity, and inclusivity. Accor’s mission is reflected in the Group’s purpose: Pioneering the art of responsible hospitality, connecting cultures, with heartfelt care. Founded in 1967, Accor SA is headquartered in France. Included in the CAC 40 index, the Group is publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information, please visit www.Group.Accor.com.

About Eagle Real Estate Investment Trust (Eagle REIT):
Eagle REIT is Zimbabwe’s first dollar-denominated Development REIT focusing on developing high-impact real estate assets across the hospitality, healthcare, and residential sectors. It is also the first REIT to be listed on the Victoria Falls Stock Exchange (VFEX), a member of the International Financial Services Center. The REIT is managed by Eagle Asset Management, a licensed investment manager and a subsidiary of Zimre Holdings Limited.

MIL OSI Africa –

June 20, 2025
MIL-OSI Economics: Olaf Seijpen: Financial stability – it’s not glamorous, but it matters

Source: Bank for International Settlements

Good morning and welcome to the 9th Annual Macroprudential Conference. It is a pleasure to see so many distinguished representatives from central banks, regulatory institutions, the financial sector, and academia gathered here today. And welcome to our newly renovated building-a space designed not only for policy but also for people. Our new building is now partly open to the general public. As a central bank, we want to be transparent and accessible, and we wanted our new building to reflect that. And you know, people really take an interest. And I can imagine people are really excited to see so many macroprudential policy stars in person today.

This conference has always been a collaborative effort. From the very beginning, it has been jointly organized by the Deutsche Bundesbank, the Sveriges Riksbank and De Nederlandsche Bank. A macroprudential rock band if you will. And this year, we’re thrilled to welcome a new band member: the Central Bank of Ireland. I would also like to extend my sincere thanks to the Scientific Committee for their dedication in shaping this year’s programme. Your work behind the scenes makes all of this possible.

In these volatile times, transparency and accessibility are more important than ever. Macroprudential policy may seem like a niche field, reserved for specialists. But its impact is universal. Financial stability affects households, businesses, governments-and ultimately, the trust that underpins our economies. And all the topics that we cover in this conference the coming two days, in all their diversity and richness and technical complexity – they are somehow related to this simple fact. Be it income-based tools to mitigate housing market risks, or QE and the bond market, or bank governance, to name just a few topics in the program.

Safeguarding that stability requires three things: patience, commitment and cooperation.

Let me begin with patience. The road to financial stability is long and often winding. It is not paved with quick wins or instant results. After the global financial crisis, governments, regulators and banks worked hard on a comprehensive reform of banking regulation that would boost buffers and make the financial sector more resilient. That has served us well. During the Covid pandemic, for example. Thanks to stronger buffers, banks were able to absorb losses and continue extending credit when the economy took a hit as a result of the lockdowns.

And it continues to serve us well. Especially now in these times of fundamental uncertainty. A resilient financial sector can help the economy to withstand shocks from trade barriers and geopolitical events. But it takes patience and hard work.

That brings me to the second theme: commitment. Financial stability seems like a natural state. We take out our phone and we pay. And the bread that we buy costs the same as it did last week. And when we wake up in the morning our savings are still in our bank account. Financial stability is something that seems to be just there, unconditionally. But it really isn’t. It is something we must continuously work for. It demands vigilance, coordination, and above all, the political will to act before the crisis hits.

Lately, there have been calls for simplifying banking regulation. I have sympathy for that. Banking regulation has indeed become very complex. This is certainly something we should look into.

But we should be careful not to confuse simplification with deregulation. Deregulation means effectively lowering buffers by relaxing the rules. That would increase both vulnerability in the banking system and the likelihood of financial crises. It would be a big mistake.

We should be wary of undoing the hard work that has gone into strengthening the financial system over the past decade and a half. Especially now, in this time of unusually high uncertainty, both on the economic and political front.

This requires commitment from regulators and governments. Because the system of international rules we have built to support financial stability and to create a level playing field is only as strong as our commitment to it.

Finally, cooperation. Financial stability is an international public good. Almost every challenge we face in our highly interconnected financial system is global in nature. And so must be our response. No country can safeguard financial stability alone.

If we want to meet today’s challenges to financial stability, we have to continue to work together. And we need to stay committed to the institutions we have built to underpin that cooperation, such as the Basel Committee and the FSB. Global cooperation is harder in a fragmented world. But it is also more essential. During the global financial crisis, policymakers acted swiftly and in unison. We must preserve that capacity.

Patience, commitment, and cooperation. Let us use this conference to reaffirm these principles. Let us learn from each other, challenge each other, and inspire each other. But above all: let us enjoy the conference. And if you remember just one thing from this speech, let it be this: macroprudential policy may not be glamorous, it may not attract big crowds, you may not even make it to the support act. But it matters, and it is never boring.

MIL OSI Economics –

June 19, 2025

MIL-OSI USA: SCHUMER, GILLIBRAND ANNOUNCE $12+ MILLION IN FEDERAL FUNDING FOR PROJECTS ACROSS UPSTATE NEW YORK THROUGH THE NORTHERN BORDER REGIONAL COMMISSION

US Senate News:

Source: United States Senator for New York Charles E Schumer

Communities From North Country, Finger Lakes, CNY, Capital Region Win Funding For Critical Community Projects Such As Upgrading Wastewater Infrastructure, Expanding Access To Healthcare & More

Schumer, Gillibrand: Fed $$ Is Flowing To Improve Upstate NY Infrastructure, Expand Healthcare & Create Jobs!

U.S. Senator Chuck Schumer and U.S. Senator Kirsten Gillibrand today announced $12,349,291 in federal funding for 14 projects across Upstate New York through the Northern Border Regional Commission (NBRC), which the senators recently fought to reauthorize and expand. Schumer and Gillibrand said these projects will help address critical needs across the region, including upgrading wastewater infrastructure, expanding access to healthcare services, and more to improve quality of life and spur economic development in the region.

“From expanding wastewater systems in the Finger Lakes Region to boosting access to healthcare in the North Country, this $12+ million in federal money via the excellent Northern Border Regional Commission will support major infrastructure upgrades and increase in vital services in Upstate New York. These federal investments will help create new jobs, strengthen our infrastructure, expand healthcare and boost quality of life across the region,” said Senator Schumer. “I have long fought to secure and increase funding for the Northern Border Regional Commission and expand this important federal support because it has played a unique and pivotal role in spurring economic development, upgrading infrastructure, improving quality of life, and creating jobs in communities across Upstate New York. I’m proud to have delivered this critical funding to help families and communities lay the foundation for a better future here in Upstate New York.”

“These federal investments will support essential upgrades to infrastructure, expand access to health care, create jobs, and drive economic growth across Upstate New York,” said Senator Gillibrand. “The Northern Border Regional Commission has already backed more than 75 projects in our state, and this additional $12 million will build on that progress and help communities thrive. I’m proud to have helped secure this funding, and I’ll keep fighting to protect the NBRC to ensure our families, workers, and small businesses have the resources they need to succeed.”

A full list of projects can be found below:

Recipient	Region	County	Amount	Description
Town of Hunter	Capital Region	Greene	$1,000,000	The Town of Hunter will design, construct, and equip the Mountaintop Community Hall, supporting workforce development, business incubation, community programming, and emergency preparedness.
Village of Whitehall	Capital Region	Washington	$1,000,000	The Village of Whitehall will upgrade its water infrastructure following a State of Emergency due to water supply disruptions. This project will safeguard drinking water for residents and businesses by enhancing the Pine Lake reservoir and Village Water Treatment Plant with modern monitoring and control systems.
East Hill Family Medical, Inc	Central NY	Cayuga	$1,000,000	East Hill Family Medical, Inc will transform a newly acquired site in Sennett, NY into a state-of-the-art healthcare facility. The project will improve access to primary care, behavioral health, and dental services, serving an estimated 4,500 additional patients and addressing regional provider shortages.
Town of Schroeppel	Central NY	Oswego	$80,000	The Town of Schroeppel will conduct a comprehensive water infrastructure feasibility study, ensuring long-term access to safe and reliable water for residents and businesses.
Town of Webb	Mohawk Valley	Herkimer	$485,000	The Town of Webb will modernize its aging wastewater collection system, addressing critical infrastructure deficiencies and environmental risks. This project will rehabilitate high-risk sewer lines, improve wastewater conveyance, and enhance treatment facility operations.
Lake Champlain-Lake George Regional Planning Board	North Country	Essex	$240,000	The Lake Champlain-Lake George Regional Planning Board will identify development sites, conduct buildout analyses, and complete pre-development work for workforce housing in four Essex County communities. This initiative will address housing shortages while supporting workforce growth, economic stability, and community sustainability in the region.
City of Plattsburgh	North Country	Clinton	$100,000	The City of Plattsburgh will conduct a feasibility study of its wastewater system in the Rugar Street corridor, ensuring capacity for future development. This study will assess infrastructure needs to support 150 new workforce housing units, additional commercial growth, and industrial expansion at the former Clinton County airport.
Lake Placid Association for Music, Drama and Art	North Country	Essex	$1,000,000	Lake Placid Association for Music, Drama and Art will renovate and modernize a 52-year-old theatre, enhancing accessibility, energy efficiency, and performance capabilities. This revitalization will transform the auditorium, expand stage space, upgrade theatre technology, and improve visitor experience, ensuring the venue remains a vital hub for cultural tourism and community engagement.
United Cerebral Palsy Association of the North Country, Inc.	North Country	St.Lawrence	$615,625.72	United Cerebral Palsy Association of the North Country, Inc. will expand pediatric healthcare services at its Federally Qualified Health Centers in Canton and Ogdensburg, NY. This project will increase clinic capacity by constructing exam rooms, improving patient flow, and enhancing access to preventive care, vaccinations, and chronic disease management for children in medically underserved communities.
Village of Waddington	North Country	St.Lawrence	$793,000	The Village of Waddington will replace deteriorating water mains in its downtown district, ensuring reliable access for residents and businesses while preventing further economic decline.
Livingston County Water and Sewer Authority	Rochester Finger-Lakes	Livingston	$1,000,000	Livingston County Water and Sewer Authority will implement the LCWSA/Geneseo Water Interconnection Project, enhancing water system capacity, resiliency, and regional connectivity across multiple municipalities in Livingston County, NY.
Village of Dansville	Rochester-Finger Lakes	Livingston	$1,979,586.00	The Village of Dansville will construct a public sewer extension, pedestrian infrastructure, and ADA-accessible playground equipment, improving community health and economic development. This project will provide wastewater service to Noyes Memorial Hospital and the planned YMCA, facilitating expansion and workforce growth, while new sidewalks, a walking trail, and a pedestrian bridge will enhance accessibility and safety.
Village of Waterloo	Rochester-Finger Lakes	Seneca	$3,000,000	Village of Waterloo will improve storm sewer infrastructure, road drainage, sidewalks, and curbing, ensuring resilience against frequent flooding and supporting downtown revitalization efforts. These upgrades complement the Village’s recent $10 million Downtown Revitalization Initiative (DRI) funding, enhancing economic stability, pedestrian safety, and stormwater management.
Genesee Finger Lakes Regional Planning Commission	Rochester-Finger Lakes	Wyoming	$56,080	The Genesee Finger Lakes Regional Planning Commission will conduct a Housing Needs Assessment and Market Analysis, evaluating demographic and economic trends to inform comprehensive housing strategies. This study will identify gaps in the housing market and guide planning for projects that address the needs of low-to-moderate-income households, seniors, veterans, and individuals with disabilities.

After years of advocacy, Schumer and Gillibrand announced late last year that they had successfully reauthorized the Northern Border Regional Commission (NBRC) for another 5 years, increasing funding and expanding the critical grant program that has delivered tens of millions of dollars for the North Country and Upstate NY. Despite the wide bipartisan support to reauthorize the NBRC, President Trump’s recent budget for Fiscal Year 2026 calls for the elimination of this program, an effort that the senators are actively pushing back against to ensure NBRC continues to be funded to provide critical investment to Upstate NY. From 2010-2024, the NBRC has invested in over 78 projects, totaling more than $48 million in federal funding for Upstate New York. Schumer introduced the Northern Border Regional Commission (NBRC) Reauthorization Act of 2023 which paved the way for these key changes.

In addition to reauthorizing the NBRC for an additional 5 years, the bill that passed into law at the end of last year also increased funding for the program from $33 million to $40 million. The bill made critical enhancements to the range of projects the NBRC is able to support to foster growth in the region, including a new program focused on addressing childcare and healthcare needs, increasing support for addiction treatment, and new support for capacity building for business retention, job training, and job creation. The NBRC reauthorization was included as part of the Economic Development Administration reauthorization in the bipartisan, bicameral Water Resources Development Act.

Schumer and Gillibrand have a long history of championing the Northern Border Regional Commission and its positive economic impacts on Upstate New York. In 2021, the senator successfully secured $150 million for the NBRC, over triple its funding from previous years, through the Bipartisan Infrastructure Investment & Jobs Act.

Established in 2008, the NBRC is a federal-state partnership focused on the economic revitalization of communities across the Northern Border region, which includes New York, Maine, New Hampshire, and Vermont. The Commission is composed of the governors of the four Northern Border states and a federal co-chair and provides financial and technical assistance to communities in the region to support entrepreneurs, improve water, broadband, and transportation infrastructure, and promote other initiatives to improve the region’s economy. The northern border region of New York State currently includes 30 counties: Cayuga, Clinton, Essex, Franklin, Fulton, Genesee, Greene, Hamilton, Herkimer, Jefferson, Lewis, Livingston, Madison, Montgomery, Niagara, Oneida, Orleans, Oswego, Rensselaer, Saratoga, Schenectady, Schoharie, Seneca, St. Lawrence, Sullivan, Washington, Warren, Wayne, Wyoming, and Yates.

MIL OSI USA News –

June 19, 2025

MIL-OSI Russia: IMF Executive Board Concludes 2025 Article IV Consultation with Iceland

Source: IMF – News in Russian

June 18, 2025

Growth decelerated in 2024 but is expected to rise to 1.6 percent in 2025 and 2.2 percent in 2026, while inflation is projected to decline to the Central Bank of Iceland’s 2.5 percent target in the second half of 2026. The direct impact of escalating global trade tensions is projected to be limited.
The authorities’ plans to turn the fiscal deficit in 2024 into a surplus by 2028 are appropriate given the need to rebuild buffers; details on the planned fiscal measures to achieve these targets have enhanced the credibility of the consolidation. Monetary policy is suitably tight given still elevated inflation, but the monetary stance should be reduced as inflation declines. Efforts to raise foreign exchange reserve coverage are welcome.
Investments in physical and human capital, alongside continued efforts to promote innovation and reduce skills mismatches are needed to support medium-term growth. Taxation can play a supportive role in reducing housing market imbalances.

Washington, DC: The Executive Board of the International Monetary Fund (IMF) completed the Article IV Consultation for Iceland.[1] The authorities have consented to the publication of the Staff Report prepared for this consultation.[2]

The economy decelerated in 2024 to 0.5 percent due largely to weak exports from a disappointing fishing season and constraints on energy supply that curtailed aluminum production. Growth is expected to rebound to 1.6 percent in 2025 and 2.2 percent in 2026, driven by a recovery in exports, higher real wages, and continued monetary easing that more than offsets the impact of a moderately contractionary fiscal impulse. The impact of escalating global trade tensions is projected to be limited given that most goods exports are destined for Europe. Inflation is expected to gradually decline to the Central Bank of Iceland’s 2.5 percent target in the second half of 2026. Medium-term prospects are favorable, with continued diversification of the economy toward higher value-added export-oriented sectors anticipated to bolster productivity growth and inflows of foreign labor expected to support a modest increase in employment growth.

Risks to growth are tilted to the downside while risks to inflation are broadly balanced. In particular, the impact of rising global trade tensions could be larger than anticipated if tariffs are extended to currently exempted items (e.g., pharmaceuticals) or if a reduction in travel to and from the US negatively affects tourism. Inflation could increase if trade tensions trigger supply disruptions or capital outflows, if a premature loosening of monetary policy further de-anchors inflation expectations, or as result of second-round effects from higher wage growth. Conversely, capital inflows could result in an appreciation of the exchange rate that would weaken competitiveness and put downward pressure on inflation.

Executive Board Assessment[3]

Executive Directors agreed with the thrust of the staff appraisal. They welcomed the prudent macroeconomic policies, which have helped to reduce imbalances. While noting that medium‑term growth prospects are favorable, Directors observed that risks are tilted to the downside, notably from rising trade tensions. They emphasized the need to ensure macroeconomic stability and gradually rebuild fiscal buffers, while supporting stronger growth and reducing vulnerability to shocks.

Directors welcomed the ambitious fiscal targets and the improved transparency and credibility around the planned consolidation. They highlighted that increased infrastructure spending would help to close gaps in transport and energy and bolster growth prospects. Directors saw merit in implementing additional measures, if necessary, to achieve fiscal objectives. Noting the need to reduce procyclicality in fiscal policy, Directors supported the planned activation of revised fiscal rules in 2026. They also recommended measures to strengthen the Fiscal Council and increase the coverage and frequency of fiscal data.

Directors noted that price pressures remain elevated and agreed that tight monetary policy remained appropriate. They encouraged the Central Bank of Iceland (CBI) to gradually loosen the policy stance as inflation declines towards target and expectations become reanchored. Directors saw merit in transitioning to a more forecast‑based inflation targeting framework as uncertainty declines. Noting the importance of increasing reserves to more prudent levels, Directors welcomed the CBI’s decision to commence regular purchases of foreign exchange.

Directors welcomed that systemic risks in the financial sector are contained. They highlighted the need to remain vigilant to potential vulnerabilities in the housing market and the corporate sector, and to continue strengthening operational resilience. Directors saw scope to ease macroprudential policies should systemic risks recede as anticipated. While welcoming the progress on implementing FSAP recommendations, Directors urged further efforts to enhance pension fund governance, strengthen AML/CFT supervision of banks, and safeguard the independence and effectiveness of the CBI’s supervisory activities.

Directors emphasized the importance of reforms to bolster productivity and diversify the economy, including by improving infrastructure and supporting innovation. Important measures include reducing skill mismatches, maximizing the efficiency of R&D incentives, and promoting AI while mitigating related risks. Directors welcomed plans to increase housing supply and improve housing affordability.

It is expected that the next Article IV consultation with Iceland will be held on the standard 12‑month cycle.

Table 1. Iceland: Selected Economic Indicators, 2024–30
	2024	2025	2026	2027	2028	2029	2030
		Proj.	Proj.	Proj.	Proj.	Proj.	Proj.
	(Percentage change unless otherwise indicated)
National Accounts (constant prices)
Gross domestic product	0.5	1.6	2.2	2.4	2.4	2.4	2.4
Total domestic demand	2.3	1.5	0.6	2.2	2.4	2.4	2.3
Private consumption	0.6	2.2	2.4	2.5	2.6	2.6	2.6
Public consumption	2.5	1.5	1.3	1.0	1.0	1.0	1.0
Gross fixed investment	7.5	4.1	-3.2	2.8	3.2	3.2	3.2
Net exports (contribution to growth)	-1.8	-0.3	1.6	0.3	0.1	0.0	0.2
Exports of goods and services	-1.2	3.3	3.0	3.3	3.1	3.0	3.2
Imports of goods and services	2.7	3.9	-0.7	2.7	2.9	2.9	2.9
Output gap (percent of potential output)	1.0	0.2	0.0	0.0	0.0	0.0	0.0

Selected Indicators
Unemployment rate (percent of labor force)	3.4	3.9	4.0	4.0	4.0	4.0	4.0
Employment	4.1	0.4	0.9	1.1	1.1	1.1	1.1
Labor productivity	-3.3	1.2	1.3	1.3	1.3	1.3	1.3
Real wages	0.5	1.4	1.3	1.3	1.3	1.3	1.3
Nominal wages	6.4	4.9	4.4	3.8	3.8	3.9	3.8
Consumer price index (average)	5.9	3.5	3.0	2.5	2.5	2.5	2.5
Consumer price index (end period)	4.7	3.6	2.5	2.5	2.5	2.5	2.5
ISK/€ (average)	164	…	…	…	…	…	…

Money and Credit (end period)
Credit to nonfinancial private sector	8.1	5.6	5.6	5.6	5.6	5.6	5.7
Central bank 7 day term deposit rate 1/	8.50	7.50	…	…	…	…	…
	(Percent of GDP unless otherwise indicated)
General Government Finances 2/	(Percent of GDP unless otherwise indicated)
Revenue	42.8	43.2	42.4	42.4	42.4	42.5	42.6
Expenditure	46.3	44.5	43.2	42.9	42.8	42.7	42.7
Overall balance 3/	-3.5	-1.3	-0.7	-0.5	-0.3	-0.2	-0.1
Cyclically-adjusted primary balance	-1.5	0.7	0.9	1.2	1.4	1.6	1.7
Structural primary balance 4/	0.7	1.1	1.1	1.3	1.4	1.6	1.7
Gross debt	59.1	47.7	45.4	43.6	41.7	39.9	38.1

Balance of Payments
Current account balance	-2.5	-2.6	-0.5	0.0	0.4	0.7	1.0
Gross external debt	67.0	65.4	61.6	58.5	55.4	52.4	49.5
Sources: Central Bank of Iceland; Ministry of Finance; Statistics Iceland; and IMF staff projections.
1/ For 2025, policy rate as of May.
2/ In April 2025, an agreement was reached on the settlement of remaining outstanding liabilities in the IL Fund (HFF).
3/ For 2024, the deficit now includes 1.2 percent of GDP in costs related to the purchase of houses in Grindavík that in the 2024 Article IV were classified below the line due to uncertainty about the correct statistical treatment.
4/ Cyclically-adjusted primary balance excluding one offs.

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

[2] Under the IMF’s Articles of Agreement, publication of documents that pertain to member countries is voluntary and requires the member consent. The staff report will be shortly published on the www.imf.org/iceland page.

[3] At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summings up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.

IMF Communications Department

MEDIA RELATIONS

PRESS OFFICER: Boris Balabanov

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

https://www.imf.org/en/News/Articles/2025/06/18/pr-25201-iceland-imf-executive-board-concludes-2025-article-iv-consultation

MIL OSI

MIL OSI Russia News –

June 19, 2025

MIL-OSI: NexQloud Closes $2.3M Pre-Seed Round, Surpasses 1,850 NanoServers Deployed, Outpaces Traditional Data Centers in Efficiency—and Pursues FedRAMP for Public Sector Expansion
Source: GlobeNewswire (MIL-OSI)

PALO ALTO, Calif., June 18, 2025 (GLOBE NEWSWIRE) — NexQloud, a startup in decentralized cloud computing infrastructure, today announced the successful close of its $2.3 million Pre-Seed funding round under a Reg CF exemption. The raise, completed with fully audited financials, marks a significant milestone and confirms market appetite for decentralized computing solutions that reward individuals and organizations for contributing their hardware to the cloud.

The company now enters a new phase of growth, backed by a 12-month runway and plans to launch a $5 million Seed Round to accelerate proof of market fit for its Distributed Kubernetes Service (DKS) and expand into three additional cloud service verticals designed to serve the growing demand from AI organizations, SaaS providers, and DevOps teams.

“This funding validates what we’ve always believed — that the future of cloud computing is decentralized, energy efficient, and eco-friendly,” said Mauro Terrinoni, CEO of NexQloud. “With over 1,850 NanoServers live, we’ve demonstrated not only demand but global scalability. Now, we’re focused on unlocking enterprise and federal adoption with even greater ambition.”

1,850+ NanoServers Now Deployed Across 10 Countries

Since its last milestone announcement of 1,250 units, NexQloud has rapidly expanded to over 1,850 NanoServers across ten countries, including the United States, United Kingdom, Canada, Belgium, Australia, Vietnam, Switzerland, Germany, India, and Jamaica. This marks a 48% growth since its last update, demonstrating strong contributor momentum and global adoption.

Built on mobile CPU architecture, each NanoServer operates with just 12% of the energy consumed by traditional rackmount servers. The result: 88% energy savings with identical computational performance. These energy-efficient devices operate 24/7 with minimal cooling or infrastructure overhead, creating a sustainable, community-powered alternative to centralized data centers.

To date NexQloud’s Distributed Compute Platform (DCP) now comprises:
- 54,820 virtual CPUs (vCPUs) — powering compute-intensive enterprise workloads
- 158.83 terabytes of RAM — supporting large-scale, memory-driven applications
- 849 AI-capable GPUs — enabling real-time machine learning, inference, and analytics
NexQloud’s DCP Matches Enterprise Data Center Power—Without the Real Estate

To contextualize the scale of its current infrastructure, NexQloud’s DCP now delivers the performance equivalent of a mid-sized enterprise-grade data center, comprising approximately 70 traditional server racks. The platform can support between 500,000 and 750,000 concurrent users for web-based applications, while simultaneously powering tens of thousands of containerized workloads across its Distributed Kubernetes Service (DKS).

In addition, NexQloud’s GPU infrastructure can support hundreds of parallel AI inference, training, and rendering tasks, enabling enterprise-scale AI computing at a fraction of typical cost. Remarkably, this level of compute was achieved without building a single data center— and with new devices coming online daily, NexQloud’s DCP will continue to grow in scale and resilience.

Eliminating Infrastructure Costs, Saving Energy, Reducing Emissions

If built traditionally, this infrastructure would require an estimated $7.5 million in capital expenditures. NexQloud eliminates these costs entirely by leveraging decentralized ownership and contributor-operated devices, with the potential to deliver:
- Annual electricity savings: Over 6.94 million kWh, equal to $832,550 in avoided energy costs
- CO₂ emissions avoided: Approximately 2,895 metric tons per year, equivalent to removing 640 cars from the road
- Environmental impact: Comparable to planting 133,000 mature trees annually
“This is more than cloud infrastructure — it’s a major shift in how compute is produced, powered, and rewarded,” added Terrinoni. “With the theoretical ability to add millions of devices, we are poised to do for computing what the internet did for information —decentralize it, distribute it, and redefine it.”

Pursuing FedRAMP to Unlock Government Cloud Contracts

Lastly, the company announces its intent to pursue FedRAMP certification to unlock opportunities with U.S. government agencies. As one of the largest consumers of traditional cloud infrastructure, the U.S. government represents a high-value target. NexQloud’s pursuit of FedRAMP is a strategic move to access public sector contracts and expand into one of the most regulated and defensible segments of the cloud market.

About NexQloud

NexQloud is redefining cloud infrastructure by combining blockchain, AI, and a global network of energy-efficient NanoServers into a scalable, secure, and environmentally responsible computing platform. Through its NXQ token economy and Distributed Kubernetes Service (DKS), NexQloud offers individuals and enterprises an inclusive alternative to centralized hyperscale providers.

Media Contact:
Mauro Terrinoni, CEO
Email: mterrinoni@nexqloud.io
Phone: +1 669 241 0916
Website: www.nexqloud.io

The MIL Network –
June 19, 2025

MIL-OSI: BlackRock® Canada Announces June Cash Distributions for the iShares® ETFs

Source: GlobeNewswire (MIL-OSI)

TORONTO, June 18, 2025 (GLOBE NEWSWIRE) — BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE: BLK), today announced the June 2025 cash distributions for the iShares ETFs listed on the TSX or Cboe Canada which pay on a monthly, quarterly, or semi-annual basis. Unitholders of record of the applicable iShares ETF on June 25, 2025 will receive cash distributions payable in respect of that iShares ETF on June 30, 2025.

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

Fund Name	Fund Ticker	Cash Distribution Per Unit
iShares 1-10 Year Laddered Corporate Bond Index ETF	CBH	$0.049
iShares 1-5 Year Laddered Corporate Bond Index ETF	CBO	$0.051
iShares S&P/TSX Canadian Dividend Aristocrats Index ETF	CDZ	$0.128
iShares Equal Weight Banc & Lifeco ETF	CEW	$0.066
iShares Global Real Estate Index ETF	CGR	$0.293
iShares International Fundamental Index ETF	CIE	$0.462
iShares Global Infrastructure Index ETF	CIF	$0.592
iShares Japan Fundamental Index ETF (CAD-Hedged)	CJP	$0.294
iShares 1-5 Year Laddered Government Bond Index ETF	CLF	$0.032
iShares 1-10 Year Laddered Government Bond Index ETF	CLG	$0.036
iShares US Fundamental Index ETF	CLU	$0.181
iShares US Fundamental Index ETF	CLU.C	$0.238
iShares Global Agriculture Index ETF	COW	$0.922
iShares S&P/TSX Canadian Preferred Share Index ETF	CPD	$0.058
iShares Canadian Fundamental Index ETF	CRQ	$0.198
iShares US Dividend Growers Index ETF (CAD-Hedged)	CUD	$0.102
iShares Convertible Bond Index ETF	CVD	$0.072
iShares Emerging Markets Fundamental Index ETF	CWO	$0.623
iShares Global Water Index ETF	CWW	$0.442
iShares Global Monthly Dividend Index ETF (CAD-Hedged)	CYH	$0.078
iShares Canadian Financial Monthly Income ETF	FIE	$0.040
iShares ESG Balanced ETF Portfolio	GBAL	$0.334
iShares ESG Conservative Balanced ETF Portfolio	GCNS	$0.304
iShares ESG Equity ETF Portfolio	GEQT	$0.397
iShares ESG Growth ETF Portfolio	GGRO	$0.356
iShares U.S. Aerospace & Defense Index ETF	XAD	$0.107
iShares U.S. Aggregate Bond Index ETF	XAGG	$0.105
iShares U.S. Aggregate Bond Index ETF⁽¹⁾	XAGG.U	$0.076
iShares U.S. Aggregate Bond Index ETF (CAD-Hedged)	XAGH	$0.096
iShares Core MSCI All Country World ex Canada Index ETF	XAW	$0.362
iShares Core MSCI All Country World ex Canada Index ETF⁽¹⁾	XAW.U	$0.266
iShares Core Balanced ETF Portfolio	XBAL	$0.239
iShares Core Canadian Universe Bond Index ETF	XBB	$0.079
iShares S&P/TSX Global Base Metals Index ETF	XBM	$0.150
iShares Core Canadian Corporate Bond Index ETF	XCB	$0.069
iShares ESG Advanced Canadian Corporate Bond Index ETF	XCBG	$0.121
iShares U.S. IG Corporate Bond Index ETF	XCBU	$0.122
iShares U.S. IG Corporate Bond Index ETF⁽¹⁾	XCBU.U	$0.088
iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged)	XCD	$0.305
iShares Canadian Growth Index ETF	XCG	$0.122
iShares China Index ETF	XCH	$0.258
iShares Semiconductor Index ETF	XCHP	$0.164
iShares Global Clean Energy Index ETF	XCLN	$0.327
iShares Core Conservative Balanced ETF Portfolio	XCNS	$0.186
iShares S&P/TSX SmallCap Index ETF	XCS	$0.156
iShares ESG Advanced MSCI Canada Index ETF	XCSR	$0.464
iShares Canadian Value Index ETF	XCV	$0.390
iShares Core MSCI Global Quality Dividend Index ETF	XDG	$0.074
iShares Core MSCI Global Quality Dividend Index ETF⁽¹⁾	XDG.U	$0.044
iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged)	XDGH	$0.057
iShares Core MSCI Canadian Quality Dividend Index ETF	XDIV	$0.115
iShares Genomics Immunology and Healthcare Index ETF	XDNA	$0.159
iShares Global Electric and Autonomous Vehicles Index ETF	XDRV	$0.180
iShares ESG Advanced MSCI EAFE Index ETF	XDSR	$0.926
iShares Core MSCI US Quality Dividend Index ETF	XDU	$0.064
iShares Core MSCI US Quality Dividend Index ETF⁽¹⁾	XDU.U	$0.046
iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged)	XDUH	$0.055
iShares Canadian Select Dividend Index ETF	XDV	$0.108
iShares J.P. Morgan USD Emerging Markets Bond Index ETF (CAD-Hedged)	XEB	$0.059
iShares Core MSCI Emerging Markets IMI Index ETF	XEC	$0.334
iShares Core MSCI Emerging Markets IMI Index ETF⁽¹⁾	XEC.U	$0.245
iShares Core MSCI EAFE IMI Index ETF	XEF	$0.712
iShares Core MSCI EAFE IMI Index ETF⁽¹⁾	XEF.U	$0.523
iShares S&P/TSX Capped Energy Index ETF	XEG	$0.182
iShares MSCI Europe IMI Index ETF (CAD-Hedged)	XEH	$0.633
iShares S&P/TSX Composite High Dividend Index ETF	XEI	$0.136
iShares MSCI Emerging Markets Index ETF	XEM	$0.272
iShares MSCI Emerging Markets ex China Index ETF	XEMC	$0.476
iShares Jantzi Social Index ETF	XEN	$0.239
iShares Core Equity ETF Portfolio	XEQT	$0.267
iShares ESG Aware MSCI Canada Index ETF	XESG	$0.224
iShares S&P/TSX Energy Transition Materials Index ETF	XETM	$0.464
iShares MSCI Europe IMI Index ETF	XEU	$0.611
iShares Exponential Technologies Index ETF	XEXP	$0.147
iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged)	XFH	$0.578
iShares Core Canadian 15+ Year Federal Bond Index ETF	XFLB	$0.112
iShares Flexible Monthly Income ETF	XFLI	$0.190
iShares Flexible Monthly Income ETF⁽¹⁾	XFLI.U	$0.140
iShares Flexible Monthly Income ETF (CAD-Hedged)	XFLX	$0.184
iShares S&P/TSX Capped Financials Index ETF	XFN	$0.169
iShares Floating Rate Index ETF	XFR	$0.050
iShares Core Canadian Government Bond Index ETF	XGB	$0.050
iShares S&P/TSX Global Gold Index ETF	XGD	$0.143
iShares Global Government Bond Index ETF (CAD-Hedged)	XGGB	$0.041
iShares S&P Global Industrials Index ETF (CAD-Hedged)	XGI	$0.372
iShares Core Growth ETF Portfolio	XGRO	$0.235
iShares Cybersecurity and Tech Index ETF	XHAK	$0.011
iShares Canadian HYBrid Corporate Bond Index ETF	XHB	$0.075
iShares Global Healthcare Index ETF (CAD-Hedged)	XHC	$0.396
iShares U.S. High Dividend Equity Index ETF (CAD-Hedged)	XHD	$0.077
iShares U.S. High Dividend Equity Index ETF	XHU	$0.074
iShares U.S. High Yield Bond Index ETF (CAD-Hedged)	XHY	$0.084
iShares Core S&P/TSX Capped Composite Index ETF	XIC	$0.292
iShares India Index ETF	XID	$0.000
iShares U.S. IG Corporate Bond Index ETF (CAD-Hedged)	XIG	$0.075
iShares 1-5 Year U.S. IG Corporate Bond Index ETF (CAD-Hedged)	XIGS	$0.106
iShares MSCI EAFE® Index ETF (CAD-Hedged)	XIN	$0.523
iShares Core Income Balanced ETF Portfolio	XINC	$0.165
iShares S&P/TSX Capped Information Technology Index ETF	XIT	$0.000
iShares Core Canadian Long Term Bond Index ETF	XLB	$0.062
iShares S&P/TSX Capped Materials Index ETF	XMA	$0.072
iShares S&P U.S. Mid-Cap Index ETF	XMC	$0.144
iShares S&P U.S. Mid-Cap Index ETF⁽¹⁾	XMC.U	$0.106
iShares S&P/TSX Completion Index ETF	XMD	$0.159
iShares S&P U.S. Mid-Cap Index ETF (CAD-Hedged)	XMH	$0.117
iShares MSCI Min Vol EAFE Index ETF	XMI	$0.667
iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged)	XML	$0.472
iShares MSCI Min Vol Emerging Markets Index ETF	XMM	$0.273
iShares MSCI Min Vol USA Index ETF (CAD-Hedged)	XMS	$0.106
iShares MSCI USA Momentum Factor Index ETF	XMTM	$0.054
iShares MSCI Min Vol USA Index ETF	XMU	$0.238
iShares MSCI Min Vol USA Index ETF⁽¹⁾	XMU.U	$0.175
iShares MSCI Min Vol Canada Index ETF	XMV	$0.317
iShares MSCI Min Vol Global Index ETF	XMW	$0.416
iShares MSCI Min Vol Global Index ETF (CAD-Hedged)	XMY	$0.255
iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged)	XPF	$0.065
iShares High Quality Canadian Bond Index ETF	XQB	$0.054
iShares MSCI USA Quality Factor Index ETF	XQLT	$0.060
iShares NASDAQ 100 Index ETF (CAD-Hedged)	XQQ	$0.073
iShares NASDAQ 100 Index ETF	XQQU	$0.090
iShares NASDAQ 100 Index ETF⁽¹⁾	XQQU.U	$0.066
iShares S&P/TSX Capped REIT Index ETF	XRE	$0.062
iShares ESG Aware Canadian Aggregate Bond Index ETF	XSAB	$0.048
iShares Core Canadian Short Term Bond Index ETF	XSB	$0.071
iShares Conservative Short Term Strategic Fixed Income ETF	XSC	$0.054
iShares Conservative Strategic Fixed Income ETF	XSE	$0.046
iShares ESG Aware MSCI EAFE Index ETF	XSEA	$0.473
iShares ESG Aware MSCI Emerging Markets Index ETF	XSEM	$0.216
iShares Core Canadian Short Term Corporate Bond Index ETF	XSH	$0.061
iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF	XSHG	$0.120
iShares 1-5 Year U.S. IG Corporate Bond Index ETF	XSHU	$0.137
iShares 1-5 Year U.S. IG Corporate Bond Index ETF⁽¹⁾	XSHU.U	$0.099
iShares Short Term Strategic Fixed Income ETF	XSI	$0.056
iShares Core Canadian Short-Mid Term Universe Bond Index ETF	XSMB	$0.101
iShares S&P U.S. Small-Cap Index ETF	XSMC	$0.152
iShares S&P U.S. Small-Cap Index ETF (CAD-Hedged)	XSMH	$0.127
iShares Core S&P 500 Index ETF (CAD-Hedged)	XSP	$0.300
iShares S&P 500 3% Capped Index ETF (CAD-Hedged)	XSPC	$0.173
iShares S&P/TSX Capped Consumer Staples Index ETF	XST	$0.119
iShares ESG Aware Canadian Short Term Bond Index ETF	XSTB	$0.048
iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged)	XSTH	$0.103
iShares 0-5 Year TIPS Bond Index ETF	XSTP	$0.121
iShares 0-5 Year TIPS Bond Index ETF⁽¹⁾	XSTP.U	$0.089
iShares U.S. Small Cap Index ETF (CAD-Hedged)	XSU	$0.155
iShares ESG Aware MSCI USA Index ETF	XSUS	$0.109
iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged)	XTLH	$0.113
iShares 20+ Year U.S. Treasury Bond Index ETF	XTLT	$0.131
iShares 20+ Year U.S. Treasury Bond Index ETF⁽¹⁾	XTLT.U	$0.102
iShares Diversified Monthly Income ETF	XTR	$0.040
iShares Core S&P U.S. Total Market Index ETF (CAD-Hedged)	XUH	$0.117
iShares Core S&P 500 Index ETF	XUS	$0.243
iShares Core S&P 500 Index ETF⁽¹⁾	XUS.U	$0.178
iShares S&P 500 3% Capped Index ETF	XUSC	$0.216
iShares S&P 500 3% Capped Index ETF⁽¹⁾	XUSC.U	$0.159
iShares S&P U.S. Financials Index ETF	XUSF	$0.173
iShares ESG Advanced MSCI USA Index ETF	XUSR	$0.175
iShares S&P/TSX Capped Utilities Index ETF	XUT	$0.110
iShares Core S&P U.S. Total Market Index ETF	XUU	$0.147
iShares Core S&P U.S. Total Market Index ETF⁽¹⁾	XUU.U	$0.108
iShares MSCI USA Value Factor Index ETF	XVLU	$0.151
iShares MSCI World Index ETF	XWD	$0.603

⁽¹⁾ Distribution per unit amounts are in U.S. dollars for XAGG.U, XAW.U, XCBU.U, XDG.U, XDU.U, XEC.U, XEF.U. XFLI.U, XMC.U, XMU.U, XQQU.U, XSHU.U, XSTP.U, XTLT.U, XUS.U, XUSC.U, XUU.U

Estimated June Cash Distributions for the iShares Premium Money Market ETF

The June cash distributions per unit for the iShares Premium Money Market ETF are estimated to be as follows:

Fund Name	Fund Ticker	Estimated Cash Distribution Per Unit
iShares Premium Money Market ETF	CMR	$0.129

BlackRock Canada expects to issue a press release on or about June 24, 2025, which will provide the final amounts for the iShares Premium Money Market ETF.

Further information on the iShares Funds can be found at http://www.blackrock.com/ca.

About BlackRock
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @BlackRockCA

About iShares ETFs
iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1500+ exchange traded funds (ETFs) and US$4.3 trillion in assets under management as of March 31, 2025, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.

iShares^® ETFs are managed by BlackRock Canada.

Commissions, trailing commissions, management fees and expenses all may be associated with investing in iShares ETFs. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.

Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”). Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). TSX is a registered trademark of TSX Inc. (“TSX”). All of the foregoing trademarks have been licensed to S&P Dow Jones Indices LLC and sublicensed for certain purposes to BlackRock Fund Advisors (“BFA”), which in turn has sub-licensed these marks to its affiliate, BlackRock Asset Management Canada Limited (“BlackRock Canada”), on behalf of the applicable fund(s). The index is a product of S&P Dow Jones Indices LLC, and has been licensed for use by BFA and by extension, BlackRock Canada and the applicable fund(s). The funds are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, any of their respective affiliates (collectively known as “S&P Dow Jones Indices”) or TSX, or any of their respective affiliates. Neither S&P Dow Jones Indices nor TSX make any representations regarding the advisability of investing in such funds.

MSCI is a trademark of MSCI, Inc. (“MSCI”). The ETF is permitted to use the MSCI mark pursuant to a license agreement between MSCI and BlackRock Institutional Trust Company, N.A., relating to, among other things, the license granted to BlackRock Institutional Trust Company, N.A. to use the Index. BlackRock Institutional Trust Company, N.A. has sublicensed the use of this trademark to BlackRock. The ETF is not sponsored, endorsed, sold or promoted by MSCI and MSCI makes no representation, condition or warranty regarding the advisability of investing in the ETF.

Contact for Media:
Sydney Punchard
Email: Sydney.Punchard@blackrock.com

The MIL Network –

June 18, 2025

MIL-OSI United Kingdom: UK House Price Index for April 2025

Source: United Kingdom – Executive Government & Departments

Press release

UK House Price Index for April 2025

The UK HPI shows house price changes for England, Scotland, Wales and Northern Ireland.

1000 Words/Shutterstock.com

The April data shows:

on average, house prices have fallen 2.8% since March 2025
there has been an annual price rise of 3.5% which makes the average property in the UK valued at £265,000

England

In England the April data shows, on average, house prices fell by 3.7% since March 2025. The annual price rise of 3% takes the average property value to £286,000.

London experienced the most significant monthly increase with a movement of 2.6%
The North East saw the biggest monthly price fall, with a reduction of -8.1%
The North East experienced the greatest annual price rise, up by 6.4%
The South West saw the lowest annual price growth, with a rise of 0.9%

The regional data for England indicates that:

Price change by region for England

Region	Average price April 2025	Annual change % since April 2024	Monthly change % since March 2025
East Midlands	£237,000	3.8	-3.6
East of England	£332,000	2	-3.8
London	£567,000	3.3	2.6
North East	£156,000	6.4	-8.1
North West	£205,000	3.1	-6.4
South East	£380,000	3	-2
South West	£301,000	0.9	-3.8
West Midlands	£240,000	2.6	-4.6
Yorkshire and the Humber	£200,000	4	-6.1

Repossession sales by volume for England

The lowest number of repossession sales in February 2025 was in the South West.

The highest number of repossession sales in February 2025 was in the North East.

Repossession sales	February 2025
East Midlands	5
East of England	2
London	10
North East	22
North West	9
South East	10
South West	1
West Midlands	11
Yorkshire and the Humber	9
England	79

Average price by property type for England

Property type	April 2025	April 2024	Difference %
Detached	£467,000	£447,000	4.5
Semi-detached	£283,000	£270,000	4.7
Terraced	£234,000	£229,000	2.2
Flat/maisonette	£222,000	£223,000	-0.4
All	£286,000	£278,000	3

Funding and buyer status for England

Transaction type	Average price
April 2025	Annual price change % since April 2024	Monthly price change % since March 2025
Cash	£272,000	2.2	-4
Mortgage	£292,000	3.4	-3.5
First-time buyer	£239,000	2.7	-4.7
Former owner occupier	£350,000	3.5	-2.4

Building status for England

Building status*	Average price February 2025	Annual price change % since February 2024	Monthly price change % since January 2025
New build	£446,000	26.5	12.1
Existing resold property	£286,000	4.3	0.5

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

London

London shows, on average, house prices increased by 2.6% since March 2025. House prices have shown an annual price increase of 3.3% meaning the average price of a property is £567,000.

Average price by property type for London

Property type	April 2025	April 2024	Difference %
Detached	£1,189,000	£1,108,000	7.3
Semi-detached	£729,000	£680,000	7.2
Terraced	£638,000	£609,000	4.8
Flat/maisonette	£449,000	£445,000	0.9
All	£567,000	£548,000	3.3

Funding and buyer status for London

Transaction type	Average price
Apr 2025	Annual price change % since April 2024	Monthly price change % since March 2025
Cash	£617,000	3.5	5.4
Mortgage	£556,000	3.3	1.8
First-time buyer	£481,000	2.2	0.9
Former owner occupier	£716,000	1.2	5.4

Building status for London

Building status*	Average price February 2025	Annual price change % since February 2024	Monthly price change % since January 2025
New build	£596,000	19.1	10.3
Existing resold property	£555,000	1.2	-1.3

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

Wales

Wales shows, on average, house prices rose by 0.3% since March 2025. An annual price increase of 5.3% takes the average property value to £210,000.

There were 5 repossession sales for Wales in February 2025.

Average price by property type for Wales

Property type	April 2025	April 2024	Difference %
Detached	£330,000	£313,000	5.5
Semi-detached	£211,000	£197,000	7.1
Terraced	£166,000	£159,000	4.9
Flat/maisonette	£128,000	£128,000	-0.1
All	£210,000	£200,000	5.3

Funding and buyer status for Wales

Transaction type	Average price April 2025%	Annual price change % since April 2024	Monthly price change % since March 2025
Cash	£208,000	4	-0.4
Mortgage	£211,000	5.9	0.6
First-time buyer	£180,000	5.5	-0.3
Former owner occupier	£251,000	5.1	1

Building status for Wales

Building status*	Average price
February 2025	Annual price change % since February 2024	Monthly price change % since January 2025
New build	£377,000	25.6	10.8
Existing resold property	£204,000	3.4	-0.6

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

UK house prices

UK house prices rose by 3.5% in the year to April 2025, down from the revised estimate of 7% in the 12 months to March 2025. On a non-seasonally adjusted basis, average house prices in the UK decreased by 2.7% between March 2025 and April 2025, compared with a increase of 0.5% from the same period 12 months ago (March 2024 and April 2024).

The UK Property Transactions Statistics showed that in April 2025, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 65,000. This is 28% lower than a year ago (April 2024). Between March 2025 and April 2025, UK transactions decreased by 63.5% on a seasonally adjusted basis.

The highest house price monthly increase was in London, where prices rose by 2.6% since March 2025. The highest annual growth was in the the North East, where prices increased by 6.4% in the year to April 2025.

See the economic statement.

The UK HPI is based on completed housing transactions. Typically, a house purchase can take 6 to 8 weeks to reach completion. As with other indicators in the housing market, which typically fluctuate from month to month, it is important not to put too much weight on one month’s set of house price data.

Access the full UK HPI.

Background

We publish the UK House Price Index (HPI) on the second or third Wednesday of each month with Northern Ireland figures updated quarterly. We will publish the May 2025 UK HPI at 9:30am on Wednesday 16 July 2025. See the calendar of release dates.
We have made some changes to improve the accuracy of the UK HPI. We are not publishing average price and percentage change for new builds and existing resold property as done previously because there are not currently enough new build transactions to provide a reliable result. This means that in this month’s UK HPI reports, new builds and existing resold property are reported in line with the sales volumes currently available.
The UK HPI revision period has been extended to 13 months, following a review of the revision policy (see calculating the UK HPI section 4.4). This ensures the data used is more comprehensive.
Sales volume data is available by property status (new build and existing property) and funding status (cash and mortgage) in our downloadable data tables. Transactions that require us to create a new register, such as new builds, are more complex and require more time to process. Read revisions to the UK HPI data.
Revision tables are available for England and Wales within the downloadable data in CSV format. See about the UK HPI for more information.
HM Land Registry, Registers of Scotland, Land & Property Services/Northern Ireland Statistics and Research Agency and the Valuation Office Agency supply data for the UK HPI.
The Office for National Statistics (ONS) and Land & Property Services/Northern Ireland Statistics and Research Agency calculate the UK HPI. It applies a hedonic regression model that uses the various sources of data on property price, including HM Land Registry’s Price Paid Dataset, and attributes to produce estimates of the change in house prices each month. Find out more about the methodology used from the ONS and Northern Ireland Statistics & Research Agency.
We take the UK Property Transaction statistics from the HM Revenue and Customs (HMRC) monthly estimates of the number of residential and non-residential property transactions in the UK and its constituent countries. The number of property transactions in the UK is highly seasonal, with more activity in the summer months and less in the winter. This regular annual pattern can sometimes mask the underlying movements and trends in the data series. HMRC presents the UK aggregate transaction figures on a seasonally adjusted basis. We make adjustments for both the time of year and the construction of the calendar, including corrections for the position of Easter and the number of trading days in a particular month.
UK HPI seasonally adjusted series are calculated at regional and national levels only. See data tables.
The first estimate for new build average price (April 2016 report) was based on a small sample which can cause volatility. A three-month moving average has been applied to the latest estimate to remove some of this volatility.
The UK HPI reflects the final transaction price for sales of residential property. Using the geometric mean, it covers purchases at market value for owner-occupation and buy-to-let, excluding those purchases not at market value (such as re-mortgages), where the ‘price’ represents a valuation.
HM Land Registry provides information on residential property transactions for England and Wales, collected as part of the official registration process for properties that are sold for full market value.
The HM Land Registry dataset contains the sale price of the property, the date when the sale was completed, full address details, the type of property (detached, semi-detached, terraced or flat), if it is a newly built property or an established residential building and a variable to indicate if the property has been purchased as a financed transaction (using a mortgage) or as a non-financed transaction (cash purchase).
Repossession sales data is based on the number of transactions lodged with HM Land Registry by lenders exercising their power of sale.
For England, we show repossession sales volume recorded by government office region. For Wales, we provide repossession sales volume for the number of repossession sales.
Repossession sales data is available from April 2016 in CSV format. Find out more information about repossession sales.
We publish CSV files of the raw and cleansed aggregated data every month for England, Scotland and Wales. We publish Northern Ireland data on a quarterly basis. They are available for free use and re-use under the Open Government Licence.
HM Land Registry is a government department created in 1862. Its vision is: “A world-leading property market as part of a thriving economy and a sustainable future.”
HM Land Registry’s purpose is: “We protect your land ownership and provide services and data that underpin an efficient and informed property market.”
HM Land Registry safeguards land and property ownership valued at £8 trillion, enabling over £1 trillion worth of personal and commercial lending to be secured against property across England and Wales. The Land Register contains more than 26.5 million titles showing evidence of ownership for more than 89% of the land mass of England and Wales.
For further information about HM Land Registry visit www.gov.uk/land-registry.
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Contact

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Published 18 June 2025

MIL OSI United Kingdom –

June 18, 2025

Category: Housing Sector

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Comment

Key initiatives include:

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IMF Communications Department

MEDIA RELATIONS

UK House Price Index for April 2025

England

Price change by region for England

Repossession sales by volume for England

Average price by property type for England

Funding and buyer status for England

Building status for England

London

Average price by property type for London

Funding and buyer status for London

Building status for London

Wales

Average price by property type for Wales

Funding and buyer status for Wales

Building status for Wales

UK house prices

Background

Contact

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