Category: Justice

MIL-OSI Russia: The expert group of the State University of Management has developed recommendations for interdepartmental cooperation in the implementation of youth policy

Translation. Region: Russian Federal

Source: Official website of the State –

An important disclaimer is at the bottom of this article.

On July 23, 2025, a public discussion of by-laws prepared as part of the implementation of the updated provisions of the Federal Law “On Youth Policy in the Russian Federation” took place in the House of Unions. Specialists from the State University of Management took part in the development of these by-laws.

The public discussion was attended by: Chairman of the State Duma Committee on Youth Policy, GUU graduate Artem Metelev, Deputy Minister of Science and Higher Education Olga Petrova, First Deputy Chairman of the State Duma Committee on Youth Policy Mikhail Kiselev, Deputy Chairman of the State Duma Committee on Science and Higher Education Ekaterina Kharchenko, Deputy Head of Rosmolodezh Yuri Leskin and other experts.

The agenda was outlined by the Chairman of the State Duma Committee on Youth Policy, Artem Metelev: “We have accumulated an agenda of three blocks, which we propose to discuss together today. The first: a set of measures for the patriotic education of youth and the spiritual and moral education of youth in the Russian Federation. The second: recommendations for the implementation of the main directions of youth policy in Russia, including the logistical support for its implementation. And the third: recommendations for the organization of interdepartmental interaction between the executive bodies of the country’s constituent entities in the implementation of youth policy.”

Deputy Minister of Science and Higher Education Olga Petrova noted the activity of universities participating in the development and discussion of documents: “For our part, we have also sent all the necessary materials for consideration to the expert community of the Government of Russia and plan to present the documentary results within the next month.”

At the initiative of the Federal Agency for Youth Affairs, the Department of State and Municipal Administration, together with the Department of Youth Policy and Educational Work of the State University of Management, developed a draft of recommendations for organizing interdepartmental interaction between executive bodies of the constituent entities of the Russian Federation in implementing youth policy to ensure consistency, eliminate duplication of powers, and ensure the effectiveness and systematicity of the work of government bodies at all levels.

The project team included: – Advisor to the rector of the State University of Management, head of the department of state and municipal management Sergey Chuev; – Professor of the department of state and municipal management, doctor of economic sciences Vladimir Zotov; – Professor of the department of state and municipal management, doctor of pedagogical sciences Tatyana Korosteleva; – Professor of the department of state and municipal management, doctor of economic sciences Mikhail Shatokhin; – Associate Professor of the department of state and municipal management, candidate of economic sciences Mikhail Polyakov; – Deputy Director of the Institute of Social and Cultural Policy and Culture for educational work, candidate of psychological sciences Svetlana Grishaeva.

Vice-Rector of the State University of Management Pavel Pavlovsky reported to the public council: “As for the mechanism of interdepartmental cooperation, here we have a number of specific points: establishing a clear procedure for exchanging information and recommendations, obliging regional departments to prepare and implement comprehensive measures to support young specialists aimed at their professional growth and career. Here we also include the development of measures for the professional self-determination of young people, support for gifted children, the creation and implementation of educational programs for patriotism and civic responsibility among young people, the organization of internships and practice for graduates of educational institutions, ensuring their participation in real work projects.”

The expert group of the State University of Management also proposed to develop a system of joint participation of different branches of government, institutions and organizations in the implementation of youth projects, to ensure openness and accessibility of information about all existing support measures and possible events, for which it is necessary to create one-stop services and digital platforms where young people could resolve any issues that arise.

At the end of the meeting, Artem Metelev noted that if the recommendations are accepted and regulations are developed on their basis, this will seriously simplify the work of government bodies, which will have a clear line in working with young people.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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MIL OSI Russia News –

July 24, 2025

MIL-OSI: Nasdaq Reports Second Quarter 2025 Results; Double-Digit Net Revenue Growth Reflects Strong Momentum Across All Divisions

Source: GlobeNewswire (MIL-OSI)

NEW YORK, July 24, 2025 (GLOBE NEWSWIRE) — Nasdaq, Inc. (Nasdaq: NDAQ) today reported financial results for the second quarter of 2025.

Second quarter 2025 net revenue¹ was $1.3 billion, an increase of 13% over the second quarter of 2024, or up 12% on an organic² basis. This included Solutions³ revenue growing 10%.
Annualized Recurring Revenue (ARR)⁴ of $2.9 billion increased 10% over the second quarter of 2024, or up 9% on an organic basis. Annualized SaaS revenue increased 13%, or 12% on an organic basis, and represented 37% of ARR.
Financial Technology revenue of $464 million increased 10% over the second quarter of 2024.
Index revenue of $196 million grew 17%, with $88 billion of net inflows over the trailing twelve months and $20 billion in the second quarter of 2025.
GAAP diluted earnings per share grew over 100% in the second quarter of 2025. Non-GAAP⁵ diluted earnings per share grew 24% in the second quarter of 2025.
In the second quarter of 2025, the company returned $155 million to shareholders through dividends and $100 million through repurchases of common stock. The company also repaid $400 million of senior unsecured notes in the quarter.

Second Quarter 2025 Highlights

(US$ millions, except per share)	2Q25	YoY change %	Adjusted²YoY change %	Organic YoY change %
Solutions revenue	$991	10%	10%	10%
Market Services net revenue	$306	22%	21%	21%
Net revenue	$1,306	13%	12%	12%
GAAP operating income	$568	34%
Non-GAAP operating income	$721	16%	16%	16%
ARR	$2,931	10%	9%	9%
GAAP diluted EPS	$0.78	103%
Non-GAAP diluted EPS	$0.85	24%		24%

Note: Adjusted and organic change for 2Q25 as compared to 2Q24 are equivalent as they include the same period over period adjustments. Refer to the footnotes to this press release for more information.

Adena Friedman, Chair and CEO said, “Nasdaq delivered an excellent second quarter performance amid a dynamic market environment. Our ability to deliver broad-based growth through cycles is testament to our role as a partner to our clients, helping them capture strategic opportunities, manage risk, and solidify their operational resilience.

Looking ahead, we remain well-positioned to enhance value for our clients and shareholders by driving innovation and deepening our client relationships through our One Nasdaq approach.”

Sarah Youngwood, Executive Vice President and CFO said, “Nasdaq’s financial results highlight the resilience of our business model and its ability to achieve exceptional revenue and earnings growth with strong free cash flow generation.

We are executing well on our capital allocation priorities, including repaying debt, and have surpassed our gross leverage milestone 16 months ahead of plan. We will optimize for long-term investor returns as we make organic growth investments and balance further deleveraging with opportunistic share repurchases.”

FINANCIAL REVIEW

Second quarter 2025 net revenue was $1,306 million, reflecting 13% growth versus the prior year period. Organic net revenue growth was 12%.
Solutions revenue was $991 million in the second quarter of 2025, up 10% versus the prior year period, reflecting strong growth from Index and Financial Technology.
ARR grew 10% year-over-year, or 9% on an organic basis, in the second quarter of 2025, with 12% ARR growth for Financial Technology, or 11% on an organic basis, and 7% ARR growth for Capital Access Platforms, or 6% on an organic basis.
Market Services net revenue was $306 million in the second quarter of 2025, up 22% versus the prior year period, or 21% on an organic basis.
Second quarter 2025 GAAP operating expenses were $738 million, in line with the prior year period. The quarter reflected lower restructuring costs, offset by higher compensation and benefits costs, merger and strategic initiative costs, and increased investments in technology and people to drive innovation and long-term growth.
Second quarter 2025 non-GAAP operating expenses were $585 million, reflecting 9% growth versus the prior year period, or 8% growth on an organic basis. The organic increase for the quarter reflected growth driven by increased investments in technology and people to drive innovation and long-term growth, partially offset by the benefit of synergies.
Cash flow from operations was $746 million for the second quarter, enabling the company to make continued progress on its deleveraging plan. In the second quarter of 2025, the company returned $155 million to shareholders through dividends and $100 million through repurchases of common stock. As of June 30, 2025, there was $1.5 billion remaining under the board authorized share repurchase program. The company also repaid $400 million of senior unsecured notes in the second quarter of 2025.

2025 EXPENSE AND TAX GUIDANCE UPDATE⁶

The company is updating its 2025 non-GAAP operating expense guidance to a range of $2,295 million to $2,335 million. The driver of the update is the impact of foreign exchange rates, which is offset in net revenue. The company is maintaining its 2025 non-GAAP tax rate guidance in the range of 22.5% to 24.5%.

STRATEGIC AND BUSINESS UPDATES

Financial Technology achieved solid revenue growth across each subdivision in a dynamic macro environment. Robust client demand drove double-digit revenue and ARR growth. FinTech delivered 57 new clients, 130 upsells, and a record 7 cross-sells. Second quarter highlights included:
- Financial Crime Management Technology is executing on its key growth initiatives. Second quarter results included three new enterprise client signings, including a cross-sell client and 2 upsells, reflecting continued progress on its enterprise client land and expand strategy. Nasdaq Verafin added 46 new small-and-medium bank clients in the second quarter. The business also signed its first proof of concept project with a European Tier 1 bank as part of its international expansion strategy.
- Regulatory Technology’s success with new client wins and upsells driving growth. AxiomSL signed a new client and a cross-sell. The business accelerated its momentum with existing clients in the second quarter with 34 upsells, including the renewal of a large bank. Surveillance signed 6 new clients in the quarter, including 2 market operators and a European regulator, as well as 3 cross-sells. The business closed 33 upsells in the quarter, including a strategic upsell to a large European bank.
- Solid momentum in Capital Markets Technology. Second quarter client demand was robust, supported by the ongoing market modernization mega trend. Calypso signed 2 new clients, 37 upsells, and a cross-sell. Market Technology secured 2 new clients, 24 upsells, and a cross-sell. In the second quarter, the business signed 3 clients to its fourth-generation marketplace technology platform, Nasdaq Eqlipse, including 2 fully managed services mandates where Nasdaq hosts and manages the clients’ entire trading environment and one AWS-hosted SaaS deployment.
Index ETP assets under management reached record levels and surpassed $700 billion at quarter-end. In the second quarter, Index had $20 billion in net inflows. ETP AUM was $745 billion at quarter-end, an all-time high. Nasdaq launched 33 new Index products in the second quarter, including 21 international products, 12 products in partnership with new Index clients, and 7 in the institutional insurance annuity space. Nasdaq and CME Group signed an extension through 2039 of CME Group’s exclusive license contract to offer futures and options on futures based on the Nasdaq-100 and other Nasdaq indexes, reflecting the companies’ shared commitment to delivering value through trusted benchmark products.
Nasdaq extended its listing leadership to 46 consecutive quarters. Nasdaq had the highest number of first half listings since 2021. New listings in the first half included 83 operating companies that raised more than $8 billion in total proceeds, contributing to a 81% win rate for eligible operating company listings. In the second quarter, the company welcomed 38 U.S. operating company IPOs that raised more than $3.5 billion in proceeds with a 79% win rate. Nasdaq maintained momentum in its switch program, attracting nearly $50 billion in market value in the second quarter and over $270 billion year-to-date, including Shopify, Thomson Reuters, and Kimberly Clark.
Market Services delivered record net revenue with record cash equities and derivatives revenue in the U.S. Nasdaq’s exchanges achieved record U.S. cash equities volumes in a quarter in which the industry achieved record volumes. During the Russell reconstitution, Nasdaq’s Closing Cross successfully executed 2.5 billion shares in 0.871 seconds across Nasdaq-listed securities that represented a record $102.5 billion dollars in notional value. Extending the first quarter’s trend, Nasdaq’s North American markets continued to experience exceptional message traffic in the second quarter, reaching a new record of more than 560 billion messages⁷ in a day. Nasdaq’s European equities business achieved sequential market share improvement in an elevated volume environment.
Nasdaq continues to execute on its 2025 strategic priorities — Integrate, Innovate, Accelerate — positioning the company to capitalize on opportunities for sustainable, scalable, and resilient growth.
- Integrate – Nasdaq is on track to action its $140 million expanded net expense efficiency program by year-end, with approximately $130 million actioned as of the end of the second quarter. In the second quarter, Nasdaq surpassed the 3.3x gross leverage milestone that was set following the Adenza acquisition, achieving this milestone 16 months ahead of plan.
- Innovate – Nasdaq continues to focus on innovating across the business. In July, Nasdaq Verafin announced the launch of its Agentic AI workforce. This suite of digital workers, now in beta testing, has the potential to address the most resource intensive anti-money laundering workflows. For example, when onboarded into a bank’s alert triage workflow, the Digital Sanctions Analyst automates the screening, documentation and acknowledgement processes, reducing alert review workload requiring human intervention by more than 80%. Beyond AI, Calypso announced a proof of concept that expands its industry-leading collateral management capabilities with digital assets. The use case demonstrates Nasdaq’s ability to integrate on-chain capabilities and help financial institutions manage collateral across asset classes in a more dynamic and efficient manner. Nasdaq became the exclusive distributor of Nasdaq Private Market’s Tape D^(R) API in the second quarter to deliver real-time private market data and valuation insights to investors.
- Accelerate – Nasdaq continued to deliver on its One Nasdaq strategy driving 7 cross-sell wins across Financial Technology in the quarter for a total of 26 cross-sells since the Adenza acquisition. Nasdaq remains on track to surpass $100 million in run-rate revenue from cross-sells by the end of 2027. At the end of the second quarter, cross-sells continued to account for over 15% of Financial Technology’s sales pipeline.

____________
¹ Represents revenue less transaction-based expenses.
² Adjusted and organic change for 2Q25 as compared to 2Q24 are equivalent as they include the same period over period adjustments. These changes are calculated by (i) removing the impact of period over period changes in foreign currency exchange rates (ii) adjusting for the impact of a divestiture and (iii) adjusting for the impact of AxiomSL on-premises contracts for ratable recognition for 2Q24, which was immaterial during that period. As it relates to ARR, organic changes only exclude the impacts of period over period changes in foreign currency exchange rates and a divestiture as the AxiomSL ratable recognition adjustment had no impact on ARR. Adjusted operating results also exclude the impact of the previously announced one-time revenue benefit in our Index business in 1Q24 ($16 million), which did not have an impact on our 2Q25 period over period change but does have an impact on year to date period over period results.
³ Constitutes revenue from our Capital Access Platforms and Financial Technology segments.
⁴ Annualized Recurring Revenue (ARR) for a given period is the current annualized value derived from subscription contracts with a defined contract value. This excludes contracts that are not recurring, are one-time in nature or where the contract value fluctuates based on defined metrics. ARR is currently one of our key performance metrics to assess the health and trajectory of our recurring business. ARR does not have any standardized definition and is therefore unlikely to be comparable to similarly titled measures presented by other companies. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those items. For AxiomSL and Calypso recurring revenue contracts, the amount included in ARR is consistent with the amount that we invoice the customer during the current period. Additionally, for AxiomSL and Calypso recurring revenue contracts that include annual values that increase over time, we include in ARR only the annualized value of components of the contract that are considered active as of the date of the ARR calculation. We do not include the future committed increases in the contract value as of the date of the ARR calculation. ARR is not a forecast and the active contracts at the end of a reporting period used in calculating ARR may or may not be extended or renewed by our customers.
⁵ Refer to our reconciliations of U.S. GAAP to non-GAAP net income attributable to Nasdaq, diluted earnings per share, operating income, operating expenses and organic impacts included in the attached schedules.
⁶ U.S. GAAP operating expense and tax rate guidance are not provided due to the inherent difficulty in quantifying certain amounts due to a variety of factors including the unpredictability in the movement in foreign currency rates, as well as future charges or reversals outside of the normal course of business.
⁷ Message count represents the number of records across Nasdaq’s U.S. options, U.S. and Canadian equities markets, trade reporting facilities, and bond exchange that are recorded into Nasdaq’s data warehouse on a daily basis.

ABOUT NASDAQ

Nasdaq (Nasdaq: NDAQ) is a global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

NON-GAAP INFORMATION

In addition to disclosing results determined in accordance with U.S. GAAP, Nasdaq also discloses certain non-GAAP results of operations, including, but not limited to, non-GAAP net income attributable to Nasdaq, non-GAAP diluted earnings per share, non-GAAP operating income, and non-GAAP operating expenses, that include certain adjustments or exclude certain charges and gains that are described in the reconciliation tables of U.S. GAAP to non-GAAP information provided at the end of this release. Management uses this non-GAAP information internally, along with U.S. GAAP information, in evaluating our performance and in making financial and operational decisions. We believe our presentation of these measures provides investors with greater transparency and supplemental data relating to our financial condition and results of operations. In addition, we believe the presentation of these measures is useful to investors for period-to-period comparisons of results as the items described below in the reconciliation tables do not reflect ongoing operating performance.

These measures are not in accordance with, or an alternative to, U.S. GAAP, and may be different from non-GAAP measures used by other companies. In addition, other companies, including companies in our industry, may calculate such measures differently, which reduces their usefulness as a comparative measure. Investors should not rely on any single financial measure when evaluating our business. This information should be considered as supplemental in nature and is not meant as a substitute for our operating results in accordance with U.S. GAAP. We recommend investors review the U.S. GAAP financial measures included in this earnings release. When viewed in conjunction with our U.S. GAAP results and the accompanying reconciliations, we believe these non-GAAP measures provide greater transparency and a more complete understanding of factors affecting our business than U.S. GAAP measures alone.

We understand that analysts and investors regularly rely on non-GAAP financial measures, such as those noted above, to assess operating performance. We use these measures because they highlight trends more clearly in our business that may not otherwise be apparent when relying solely on U.S. GAAP financial measures, since these measures eliminate from our results specific financial items that have less bearing on our ongoing operating performance.

Organic revenue and expense growth, organic change and organic impact are non-GAAP measures that reflect adjustments for: (i) the impact of period over period changes in foreign currency exchange rates, and (ii) the revenue, expenses and operating income associated with acquisitions and divestitures for the twelve month period following the date of the acquisition or divestiture and (iii) the impact of AxiomSL on-premises contracts for ratable recognition in comparable periods to align with current period presentation. Reconciliations of these measures are described within the body of this release or in the reconciliation tables at the end of this release.

Foreign exchange impact: In countries with currencies other than the U.S. dollar, revenue and expenses are translated using monthly average exchange rates. Certain discussions in this release isolate the impact of year-over-year foreign currency fluctuations to better measure the comparability of operating results between periods. Operating results excluding the impact of foreign currency fluctuations are calculated by translating the current period’s results by the prior period’s exchange rates.

Restructuring programs: In the fourth quarter of 2023, following the closing of the Adenza acquisition, our management approved, committed to and initiated a restructuring program to optimize our efficiencies as a combined organization. We further expanded this program in the fourth quarter of 2024 to accelerate our momentum and further optimize our efficiencies (efficiency program). We have incurred costs principally related to employee-related costs, contract terminations, asset impairments and other related costs and expect to incur additional costs in these areas in an effort to accelerate efficiencies through location strategy and enhanced AI capabilities. Actions taken as part of this program will be complete by the end of 2025, while certain costs may be recognized in the first half of 2026. We expect to achieve benefits primarily in the form of expense synergies. In October 2022, following our September announcement to realign our segments and leadership, we initiated a divisional realignment program with a focus on realizing the full potential of this structure. As of September 30, 2024, we completed our divisional realignment program. Costs related to the Adenza restructuring and the divisional realignment programs are recorded as “restructuring charges” in our condensed consolidated statements of income. We exclude charges associated with these programs for purposes of calculating non-GAAP measures as they are not reflective of ongoing operating performance or comparisons in Nasdaq’s performance between periods.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to (i) projections relating to our future financial results, total shareholder returns, growth, dividend program, trading volumes, products and services, ability to transition to new business models, taxes and achievement of synergy targets, (ii) statements about the closing or implementation dates and benefits of certain acquisitions, divestitures and other strategic, restructuring, technology, de-leveraging and capital allocation initiatives, (iii) statements about our integrations of our recent acquisitions, (iv) statements relating to any litigation or regulatory or government investigation or action to which we are or could become a party, and (v) other statements that are not historical facts. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These factors include, but are not limited to, Nasdaq’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, geopolitical instability, government and industry regulation, interest rate risk, U.S. and global competition. Further information on these and other factors are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q, which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

WEBSITE DISCLOSURE

Nasdaq intends to use its website, https://ir.nasdaq.com/, as a means for disclosing material non-public information and for complying with SEC Regulation FD and other disclosure obligations.

Media Relations Contact:

David Lurie
+1.914.538.0533
David.Lurie@Nasdaq.com

Investor Relations Contact:

Ato Garrett
+1.212.401.8737
Ato.Garrett@Nasdaq.com

-NDAQF-

Nasdaq, Inc.
Condensed Consolidated Statements of Income
(in millions, except per share amounts)
(unaudited)

		Three Months Ended						Six Months Ended
		June 30,			June 30,			June 30,			June 30,
			2025			2024			2025			2024

Revenues:
Capital Access Platforms		$	527		$	481		$	1,042		$	960
Financial Technology			464			420			896			813
Market Services			1,090			883			2,224			1,678
Other Revenues			9			8			18			18
	Total revenues		2,090			1,792			4,180			3,469
Transaction-based expenses:
Transaction rebates			(629	)		(483	)		(1,208	)		(965	)
Brokerage, clearance and exchange fees			(155	)		(150	)		(429	)		(227	)
Revenues less transaction-based expenses			1,306			1,159			2,543			2,277

Operating Expenses:
Compensation and benefits			352			328			681			669
Professional and contract services			39			39			75			72
Technology and communication infrastructure			79			69			156			135
Occupancy			30			27			58			56
General, administrative and other			23			30			29			58
Marketing and advertising			14			12			28			23
Depreciation and amortization			158			153			313			308
Regulatory			14			18			29			28
Merger and strategic initiatives			20			4			44			13
Restructuring charges			9			56			15			82
	Total operating expenses		738			736			1,428			1,444
Operating income			568			423			1,115			833
Interest income			12			6			24			12
Interest expense			(95	)		(102	)		(192	)		(211	)
Net gain on divestitures			39			—			39			—
Other income			1			12			—			13
Net income from unconsolidated investees			23			2			50			6
Income before income taxes			548			341			1,036			653
Income tax provision			96			119			190			198
Net income			452			222			846			455
Net loss attributable to noncontrolling interests			—			—			1			1
Net income attributable to Nasdaq		$	452		$	222		$	847		$	456

Per share information:
Basic earnings per share		$	0.79		$	0.39		$	1.47		$	0.79
Diluted earnings per share		$	0.78		$	0.38		$	1.46		$	0.79
Cash dividends declared per common share		$	0.27		$	0.24		$	0.51		$	0.46

Weighted-average common shares outstanding
for earnings per share:
Basic			574.1			576.4			574.6			575.9
Diluted			579.0			579.0			579.5			578.9

Nasdaq, Inc.
Revenue Detail
(in millions)
(unaudited)

				Three Months Ended						Six Months Ended
				June 30,			June 30,			June 30,			June 30,
					2025			2024			2025			2024

CAPITAL ACCESS PLATFORMS
	Data and Listing Services revenues			$	198		$	187		$	391		$	372
	Index revenues				196			167			388			336
	Workflow and Insights revenues				133			127			263			252
		Total Capital Access Platforms revenues			527			481			1,042			960

FINANCIAL TECHNOLOGY
	Financial Crime Management Technology revenues				81			67			157			131
	Regulatory Technology revenues				104			95			206			186
	Capital Markets Technology revenues				279			258			533			496
		Total Financial Technology revenues			464			420			896			813

MARKET SERVICES
	Market Services revenues				1,090			883			2,224			1,678
	Transaction-based expenses:
			Transaction rebates		(629	)		(483	)		(1,208	)		(965	)
			Brokerage, clearance and exchange fees		(155	)		(150	)		(429	)		(227	)
		Total Market Services revenues, net			306			250			587			486

OTHER REVENUES					9			8			18			18

REVENUES LESS TRANSACTION-BASED EXPENSES				$	1,306		$	1,159		$	2,543		$	2,277

Nasdaq, Inc.
Condensed Consolidated Balance Sheets
(in millions)

		June 30,			December 31,
			2025			2024
Assets		(unaudited)
Current assets:
	Cash and cash equivalents	$	732		$	592
	Restricted cash and cash equivalents		195			31
	Default funds and margin deposits		5,218			5,664
	Financial investments		84			184
	Receivables, net		896			1,022
	Other current assets		227			293
Total current assets			7,352			7,786
Property and equipment, net			656			593
Goodwill			14,328			13,957
Intangible assets, net			6,741			6,905
Operating lease assets			441			375
Other non-current assets			865			779
Total assets		$	30,383		$	30,395

Liabilities
Current liabilities:
	Accounts payable and accrued expenses	$	246		$	269
	Section 31 fees payable to SEC		411			319
	Accrued personnel costs		280			325
	Deferred revenue		848			711
	Other current liabilities		154			215
	Default funds and margin deposits		5,218			5,664
	Short-term debt		500			399
Total current liabilities			7,657			7,902
Long-term debt			8,678			9,081
Deferred tax liabilities, net			1,540			1,594
Operating lease liabilities			453			388
Other non-current liabilities			237			230
Total liabilities			18,565			19,195

Commitments and contingencies
Equity
Nasdaq stockholders’ equity:
	Common stock		6			6
	Additional paid-in capital		5,425			5,530
	Common stock in treasury, at cost		(706	)		(647	)
	Accumulated other comprehensive loss		(1,869	)		(2,099	)
	Retained earnings		8,955			8,401
Total Nasdaq stockholders’ equity			11,811			11,191
	Noncontrolling interests		7			9
Total equity			11,818			11,200
Total liabilities and equity		$	30,383		$	30,395

Nasdaq, Inc.
Reconciliation of U.S. GAAP to Non-GAAP Net Income Attributable to Nasdaq and Diluted Earnings Per Share
(in millions, except per share amounts)
(unaudited)


		Three Months Ended						Six Months Ended
		June 30,			June 30,			June 30,			June 30,
			2025			2024			2025			2024

U.S. GAAP net income attributable to Nasdaq		$	452		$	222		$	847		$	456
Non-GAAP adjustments:
	Amortization expense of acquired intangible assets ⁽¹⁾		122			122			243			244
	Merger and strategic initiatives expense ⁽²⁾		20			4			44			13
	Restructuring charges ⁽³⁾		9			56			15			82
	Net gain on divestitures ⁽⁴⁾		(39	)		—			(39	)		—
	Net income from unconsolidated investees ⁽⁵⁾		(23	)		(2	)		(50	)		(6	)
	Gain on extinguishment of debt ⁽⁶⁾		—			—			(19	)		—
	Legal and regulatory matters ⁽⁷⁾		1			13			4			16
	Pension settlement charge ⁽⁸⁾		—			—			—			23
	Other loss (income) ⁽⁹⁾		1			(10	)		1			(9	)
	Total non-GAAP adjustments		91			183			199			363
	Non-GAAP adjustment to the income tax provision ⁽¹⁰⁾		(24	)		(41	)		(70	)		(88	)
	Other tax adjustments ⁽¹¹⁾		(27	)		33			(27	)		33
	Total non-GAAP adjustments, net of tax		40			175			102			308
Non-GAAP net income attributable to Nasdaq		$	492		$	397		$	949		$	764

U.S. GAAP diluted earnings per share		$	0.78		$	0.38		$	1.46		$	0.79
	Total adjustments from non-GAAP net income above		0.07			0.31			0.18			0.53
Non-GAAP diluted earnings per share		$	0.85		$	0.69		$	1.64		$	1.32

Weighted-average diluted common shares outstanding for earnings per share:			579.0			579.0			579.5			578.9


(1) We amortize intangible assets acquired in connection with various acquisitions. Intangible asset amortization expense can vary from period to period due to episodic acquisitions completed, rather than from our ongoing business operations.
(2) We have pursued various strategic initiatives and completed acquisitions and divestitures in recent years that have resulted in expenses which would not have otherwise been incurred. These expenses generally include integration costs, as well as legal, due diligence and other third-party transaction costs. The frequency and the amount of such expenses vary significantly based on the size, timing and complexity of the transaction. For the three and six months ended June 30, 2025 and June 30, 2024, these costs included Adenza integration costs and other strategic initiative costs. For the three and six months ended June 30, 2024, these costs were partially offset by the recognition of a termination fee due to Nasdaq in the second quarter of 2024 related to the termination of the then proposed divestiture of our Nordic power futures business. For the three and six months ended June 30, 2025, these costs included a repayment of this fee due to the closing of the transaction with another buyer, as designated in the settlement agreement.
(3) For a description of our restructuring programs, see “Restructuring Programs” in the “Non-GAAP Information” section of this earnings release.
(4) For the three and six months ended June 30, 2025, we recorded pre-tax net gains on the sale of our Nordic power futures business and our Nasdaq Risk Modelling for Catastrophes business, which are included in net gain on divestitures in the Condensed Consolidated Statements of Income.
(5) We exclude our share of the earnings and losses of our equity method investments. This provides a more meaningful analysis of Nasdaq’s ongoing operating performance or comparisons in Nasdaq’s performance between periods.
(6) For the six months ended June 30, 2025, we recorded a gain on the extinguishment of debt. This gain is recorded in general, administrative and other expense in our Condensed Consolidated Statements of Income.
(7) For the three and six months ended June 30, 2025, this includes accruals relating to certain legal matters, which are recorded in professional and contract services in the Condensed Consolidated Statements of Income. For the three and six months ended June 30, 2024, these items primarily included the settlement of a Swedish Financial Supervisory Authority, or SFSA, fine, which is recorded in regulatory expense in the Condensed Consolidated Statements of Income.
(8) For the six months ended June 30, 2024, we recorded a pre-tax charge as a result of settling our U.S. pension plan. The plan was terminated and partially settled in 2023, with final settlement occurring during the first quarter of 2024. The loss was recorded in compensation and benefits in the Condensed Consolidated Statements of Income.
(9) For the three and six months ended June 30, 2024, other items primarily include net gains from strategic investments entered into through our corporate venture program, which are included in other income in our Condensed Consolidated Statements of Income.
(10) The non-GAAP adjustment to the income tax provision primarily includes the tax impact of each non-GAAP adjustment. For the six months ended June 30, 2025, this also includes a release of the prior year’s reserves following a favorable audit settlement.
(11) For the three and six months ended June 30, 2025, we recorded a tax benefit related to payments made to certain former Adenza employees. For the three and six months ended June 30, 2024, other tax adjustments also includes a one-time net tax expense of $33 million related to the completion of an intra-group transfer of certain IP assets to our U.S. headquarters.

Nasdaq, Inc.
Reconciliation of U.S. GAAP to Non-GAAP Operating Income and Operating Margin
(in millions)
(unaudited)

		Three Months Ended						Six Months Ended
		June 30,			June 30,			June 30,			June 30,
			2025			2024			2025			2024

U.S. GAAP operating income		$	568		$	423		$	1,115		$	833
Non-GAAP adjustments:
	Amortization expense of acquired intangible assets ⁽¹⁾		122			122			243			244
	Merger and strategic initiatives expense ⁽²⁾		20			4			44			13
	Restructuring charges ⁽³⁾		9			56			15			82
	Gain on extinguishment of debt ⁽⁴⁾		—			—			(19	)		—
	Legal and regulatory matters ⁽⁵⁾		1			13			4			16
	Pension settlement charge ⁽⁶⁾		—			—			—			23
	Other loss		1			2			1			2
	Total non-GAAP adjustments		153			197			288			380
Non-GAAP operating income		$	721		$	620		$	1,403		$	1,213

Revenues less transaction-based expenses		$	1,306		$	1,159		$	2,543		$	2,277

U.S. GAAP operating margin ⁽⁷⁾			44	%		36	%		44	%		37	%

Non-GAAP operating margin ⁽⁸⁾			55	%		53	%		55	%		53	%

Note: The current period percentages are calculated based on exact dollars, and therefore may not recalculate exactly using rounded numbers as presented in US$ millions.
(1) We amortize intangible assets acquired in connection with various acquisitions. Intangible asset amortization expense can vary from period to period due to episodic acquisitions completed, rather than from our ongoing business operations.
(2) We have pursued various strategic initiatives and completed acquisitions and divestitures in recent years that have resulted in expenses which would not have otherwise been incurred. These expenses generally include integration costs, as well as legal, due diligence and other third-party transaction costs. The frequency and the amount of such expenses vary significantly based on the size, timing and complexity of the transaction. For the three and six months ended June 30, 2025 and June 30, 2024, these costs included Adenza integration costs and other strategic initiative costs. For the three and six months ended June 30, 2024, these costs were partially offset by the recognition of a termination fee due to Nasdaq in the second quarter of 2024 related to the termination of the then proposed divestiture of our Nordic power futures business. For the three and six months ended June 30, 2025, these costs included a repayment of this fee due to the closing of the transaction with another buyer, as designated in the settlement agreement.
(3) For a description of our restructuring programs, see “Restructuring Programs” in the “Non-GAAP Information” section of this earnings release.
(4) For the six months ended June 30, 2025, we recorded a gain on the extinguishment of debt. This gain is recorded in general, administrative and other expense in our Condensed Consolidated Statements of Income.
(5) For the three and six months ended June 30, 2025, this includes accruals relating to certain legal matters, which are recorded in professional and contract services in the Condensed Consolidated Statements of Income. For the three and six months ended June 30, 2024, these items primarily included the settlement of a SFSA fine, which is recorded in regulatory expense in the Condensed Consolidated Statements of Income.
(6) For the six months ended June 30, 2024, we recorded a pre-tax charge as a result of settling our U.S. pension plan. The plan was terminated and partially settled in 2023, with final settlement occurring during the first quarter of 2024. The loss was recorded in compensation and benefits in the Condensed Consolidated Statements of Income.
(7) U.S. GAAP operating margin equals U.S. GAAP operating income divided by revenues less transaction-based expenses.
(8) Non-GAAP operating margin equals non-GAAP operating income divided by revenues less transaction-based expenses.

Nasdaq, Inc.
Reconciliation of U.S. GAAP to Non-GAAP Operating Expenses
(in millions)
(unaudited)

		Three Months Ended						Six Months Ended
		June 30,			June 30,			June 30,			June 30,
			2025			2024			2025			2024

U.S. GAAP operating expenses		$	738		$	736		$	1,428		$	1,444
Non-GAAP adjustments:
	Amortization expense of acquired intangible assets ⁽¹⁾		(122	)		(122	)		(243	)		(244	)
	Merger and strategic initiatives expense ⁽²⁾		(20	)		(4	)		(44	)		(13	)
	Restructuring charges ⁽³⁾		(9	)		(56	)		(15	)		(82	)
	Gain on extinguishment of debt ⁽⁴⁾		—			—			19			—
	Legal and regulatory matters ⁽⁵⁾		(1	)		(13	)		(4	)		(16	)
	Pension settlement charge ⁽⁶⁾		—			—			—			(23	)
	Other loss		(1	)		(2	)		(1	)		(2	)
	Total non-GAAP adjustments		(153	)		(197	)		(288	)		(380	)
Non-GAAP operating expenses		$	585		$	539		$	1,140		$	1,064


(1) We amortize intangible assets acquired in connection with various acquisitions. Intangible asset amortization expense can vary from period to period due to episodic acquisitions completed, rather than from our ongoing business operations.
(2) We have pursued various strategic initiatives and completed acquisitions and divestitures in recent years that have resulted in expenses which would not have otherwise been incurred. These expenses generally include integration costs, as well as legal, due diligence and other third-party transaction costs. The frequency and the amount of such expenses vary significantly based on the size, timing and complexity of the transaction. For the three and six months ended June 30, 2025 and June 30, 2024, these costs included Adenza integration costs and other strategic initiative costs. For the three and six months ended June 30, 2024, these costs were partially offset by the recognition of a termination fee due to Nasdaq in the second quarter of 2024 related to the termination of the then proposed divestiture of our Nordic power futures business. For the three and six months ended June 30, 2025, these costs included a repayment of this fee due to the closing of the transaction with another buyer, as designated in the settlement agreement.
(3) For a description of our restructuring programs, see “Restructuring Programs” in the “Non-GAAP Information” section of this earnings release.
(4) For the six months ended June 30, 2025, we recorded a gain on the extinguishment of debt. This gain is recorded in general, administrative and other expense in our Condensed Consolidated Statements of Income.
(5) For the three and six months ended June 30, 2025, this includes accruals relating to certain legal matters, which are recorded in professional and contract services in the Condensed Consolidated Statements of Income. For the three and six months ended June 30, 2024, these items primarily included the settlement of a SFSA fine, which is recorded in regulatory expense in the Condensed Consolidated Statements of Income.
(6) For the six months ended June 30, 2024, we recorded a pre-tax charge as a result of settling our U.S. pension plan. The plan was terminated and partially settled in 2023, with final settlement occurring during the first quarter of 2024. The loss was recorded in compensation and benefits in the Condensed Consolidated Statements of Income.

Nasdaq, Inc.
Reconciliation of Organic Impacts for Revenues less transaction-based expenses, Non-GAAP Operating Expenses,
Non-GAAP Operating Income, and Non-GAAP Diluted Earnings Per Share
(in millions, except per share amounts)
(unaudited)


	Three Months Ended				Total Variance				Other Impacts ⁽¹⁾				Adjusted/Organic Impact ⁽²⁾
	June 30, 2025		June 30, 2024		$		%		$		%		$		%
CAPITAL ACCESS PLATFORMS
Data and Listing Services revenues	$	198	$	187	$	11	6	%	$	3	2	%	$	8	5	%
Index revenues		196		167		29	17	%		—	—	%		29	17	%
Workflow and Insights revenues		133		127		6	5	%		1	1	%		5	5	%
Total Capital Access Platforms revenues		527		481		46	10	%		4	1	%		42	9	%

FINANCIAL TECHNOLOGY
Financial Crime Management Technology revenues		81		67		14	20	%		—	—	%		14	20	%
Regulatory Technology revenues		104		95		9	10	%		—	(1	)%		9	11	%
Capital Markets Technology revenues		279		258		21	8	%		—	—	%		21	8	%
Total Financial Technology revenues		464		420		44	10	%		—	—	%		44	10	%

Solutions revenues ⁽³⁾		991		901		90	10	%		4	—	%		86	10	%

Market Services, net revenues		306		250		56	22	%		4	2	%		52	21	%

Other revenues		9		8		1	5	%		—	3	%		1	1	%

Revenues less transaction-based expenses	$	1,306	$	1,159	$	147	13	%	$	8	1	%	$	139	12	%

Non-GAAP Operating Expenses	$	585	$	539	$	46	9	%	$	5	1	%	$	41	8	%

Non-GAAP Operating Income	$	721	$	620	$	101	16	%	$	3	1	%	$	98	16	%

Non-GAAP diluted earnings per share	$	0.85	$	0.69	$	0.16	24	%	$	—	—	%	$	0.16	24	%


Note: The current period percentages are calculated based on exact dollars, and therefore may not recalculate exactly using rounded numbers as presented in US$ millions. The sum of the percentage changes may not tie to the percentage change in total variance due to rounding.
(1) Reflects the impacts from changes in foreign currency exchange rates and the impact of a divestiture within Capital Markets Technology.
(2) Adjusted and organic period over period change are calculated by (i) removing the impact of period-over-period changes in foreign currency exchange rates (ii) adjusting for the impact of a divestiture and (iii) adjusting for the impact of AxiomSL on-premises contracts for ratable recognition for 2Q24, which was immaterial during that period. Adjusted operating results also exclude the impact of the previously announced one-time revenue benefit in our Index business in 1Q24 ($16 million), which did not have an impact on our 2Q25 period over period change but does have an impact on year to date period over period results. Adjusted and organic changes are equivalent as they include the same period over period adjustments.
(3) Represents Capital Access Platforms and Financial Technology segments.

Nasdaq, Inc.
Key Drivers Detail
(unaudited)

		Three Months Ended						Six Months Ended
		June 30,			June 30,			June 30,			June 30,
			2025			2024			2025			2024
Capital Access Platforms
	Annualized recurring revenues (in millions) ⁽¹⁾	$	1,315		$	1,226		$	1,315		$	1,226
	Initial public offerings
	The Nasdaq Stock Market ⁽²⁾		79			39			142			66
	Exchanges that comprise Nasdaq Nordic and Nasdaq Baltic		6			5			10			6
	Total new listings
	The Nasdaq Stock Market ⁽²⁾		194			84			364			163
	Exchanges that comprise Nasdaq Nordic and Nasdaq Baltic ⁽³⁾		6			10			15			12
	Number of listed companies
	The Nasdaq Stock Market ⁽⁴⁾		4,238			4,004			4,238			4,004
	Exchanges that comprise Nasdaq Nordic and Nasdaq Baltic ⁽⁵⁾		1,148			1,198			1,148			1,198
	Index
	Number of licensed exchange traded products ⁽⁶⁾		422			373			422			373
	Period end ETP assets under management (AUM) tracking Nasdaq indexes (in billions)	$	745		$	569		$	745		$	569
	Total average ETP AUM tracking Nasdaq indexes (in billions)	$	663		$	531		$	662		$	512
	TTM ⁽⁷⁾ net inflows ETP AUM tracking Nasdaq indexes (in billions)	$	88		$	53		$	88		$	53
	TTM ⁽⁷⁾ net appreciation ETP AUM tracking Nasdaq indexes (in billions)	$	88		$	115		$	88		$	115

Financial Technology
	Annualized recurring revenues (in millions) ⁽¹⁾
	Financial Crime Management Technology	$	308		$	258		$	308		$	258
	Regulatory Technology		376			338			376			338
	Capital Markets Technology		932			846			932			846
	Total Financial Technology	$	1,616		$	1,442		$	1,616		$	1,442

Market Services
	Equity Derivative Trading and Clearing
	U.S. equity options
	Total industry average daily volume (in millions)		52.5			42.1			53.0			42.7
	Nasdaq PHLX matched market share		9.6	%		9.9	%		9.4	%		10.1	%
	The Nasdaq Options Market matched market share		4.3	%		5.5	%		4.7	%		5.4	%
	Nasdaq BX Options matched market share		1.7	%		2.3	%		1.7	%		2.3	%
	Nasdaq ISE Options matched market share		6.6	%		6.9	%		6.7	%		6.6	%
	Nasdaq GEMX Options matched market share		4.4	%		2.6	%		4.0	%		2.6	%
	Nasdaq MRX Options matched market share		2.8	%		2.1	%		2.8	%		2.3	%
	Total matched market share executed on Nasdaq’s exchanges		29.4	%		29.3	%		29.3	%		29.3	%
	Nasdaq Nordic and Nasdaq Baltic options and futures
	Total average daily volume of options and futures contracts		223,450			251,677			240,133			246,527

	Cash Equity Trading
	Total U.S.-listed securities
	Total industry average daily share volume (in billions)		18.4			11.8			17.1			11.8
	Matched share volume (in billions)		158.4			119.3			295.5			236.0
	The Nasdaq Stock Market matched market share		13.5	%		15.6	%		13.8	%		15.7	%
	Nasdaq BX matched market share		0.3	%		0.3	%		0.3	%		0.3	%
	Nasdaq PSX matched market share		0.1	%		0.2	%		0.1	%		0.2	%
	Total matched market share executed on Nasdaq’s exchanges		13.9	%		16.1	%		14.2	%		16.2	%
	Market share reported to the FINRA/Nasdaq Trade Reporting Facility		47.7	%		42.9	%		47.9	%		42.2	%
	Total market share ⁽⁸⁾		61.6	%		59.0	%		62.1	%		58.4	%
	Nasdaq Nordic and Nasdaq Baltic securities
	Average daily number of equity trades executed on Nasdaq’s exchanges		804,121			663,897			796,426			665,183
	Total average daily value of shares traded (in billions)	$	5.7		$	4.7		$	5.5		$	4.7
	Total market share executed on Nasdaq’s exchanges ⁽⁹⁾		71.9	%		74.1	%		71.2	%		73.3	%


	(1) Annualized Recurring Revenue (ARR) for a given period is the current annualized value derived from subscription contracts with a defined contract value. This excludes contracts that are not recurring, are one-time in nature, or where the contract value fluctuates based on defined metrics. ARR is currently one of our key performance metrics to assess the health and trajectory of our recurring business. ARR does not have any standardized definition and is therefore unlikely to be comparable to similarly titled measures presented by other companies. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those items. For AxiomSL and Calypso recurring revenue contracts, the amount included in ARR is consistent with the amount that we invoice the customer during the current period. Additionally, for AxiomSL and Calypso recurring revenue contracts that include annual values that increase over time, we include in ARR only the annualized value of components of the contract that are considered active as of the date of the ARR calculation. We do not include the future committed increases in the contract value as of the date of the ARR calculation. ARR is not a forecast and the active contracts at the end of a reporting period used in calculating ARR may or may not be extended or renewed by our customers.
	(2) New listings include IPOs, issuers that switched from other listing venues, closed-end funds and separately listed ETPs. For the three months ended June 30, 2025 and 2024, IPOs included 41 and 8 SPACs, respectively. For the six months ended June 30, 2025 and 2024, IPOs included 59 and 13 SPACs, respectively.
	(3) New listings include IPOs and represent companies listed on the Nasdaq Nordic and Nasdaq Baltic exchanges and companies on the alternative markets of Nasdaq First North.
	(4) Number of total listings on The Nasdaq Stock Market for the three and six months ended June 30, 2025 and 2024 included 914 and 645 ETPs, respectively.
	(5) Represents companies listed on the Nasdaq Nordic and Nasdaq Baltic exchanges and companies on the alternative markets of Nasdaq First North.
	(6) The number of listed ETPs as of June 30, 2024 has been updated to reflect a revised methodology whereby an ETP listed on multiple exchanges is counted as one product, rather than formerly being counted per exchange. This change had no impact on reported AUM.
	(7) Trailing 12-months.
	(8) Includes transactions executed on The Nasdaq Stock Market’s, Nasdaq BX’s and Nasdaq PSX’s systems plus trades reported through the Financial Industry Regulatory Authority/Nasdaq Trade Reporting Facility.
	(9) European cash equities markets include cash equities exchanges of Sweden, Denmark, Finland, and Iceland. Minor adjustments to prior periods reflect data from a new consolidated data provider that accurately captures all primary trading venues and Multilateral Trading Facilities, or MTFs.

The MIL Network –

July 24, 2025

MIL-OSI Asia-Pac: Public alerted to fake tax emails

Source: Hong Kong Information Services

The Inland Revenue Department today issued an alert regarding fraudulent emails purportedly issued by the department, which invite recipients to claim tax refunds.

Each fraudulent email provides a hyperlink to a website that seeks to obtain the recipient’s personal particulars and credit card information.

Apart from stressing that it has no connection with such emails, the department said it reported the case to Police for further investigation.

It also reminded the public not to open suspicious emails or visit the attached hyperlinks.

MIL OSI Asia Pacific News –

July 24, 2025
MIL-OSI USA: President Donald J. Trump Approves Major Disaster Declaration for Indiana

Source: US Federal Emergency Management Agency

Headline: President Donald J

Trump Approves Major Disaster Declaration for Indiana

President Donald J

Trump Approves Major Disaster Declaration for Indiana

WASHINGTON — FEMA announced that federal disaster assistance is available to the state of Indiana to supplement recovery efforts in the areas affected by severe storms, straight-line winds, tornadoes and flooding from March 30 – April 9, 2025

Public Assistance federal funding is available to the state, tribal and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for emergency work and the repair and replacement of facilities damaged by the severe storms, straight-line winds, tornadoes and flooding in Bartholomew, Brown, Clark, Crawford, Decatur, Floyd, Franklin, Greene, Harrison, Jefferson, Lawrence, Madison, Marshall, Martin, Montgomery, Morgan, Orange, Owen, Perry, Switzerland, Vanderburgh, Warrick and Washington counties

Joseph P

Cirone has been named as the Federal Coordinating Officer for federal recovery operations in the affected area

Additional designations may be made at a later date if requested by the state and warranted by the results of further damage assessments

erika

suzuki
Wed, 07/23/2025 – 20:01

MIL OSI USA News –

July 24, 2025
MIL-OSI Russia: Financial news: Summary table of proposals and comments on the draft Bank of Russia instruction

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

Public discussion

Draft regulatory documents of the Bank of Russia for public discussion

Summary table of proposals and comments on the draft Bank of Russia instruction “On Amendments to Bank of Russia Instruction dated April 10, 2023 No. 6406-U”

Draft regulation of the Bank of Russia “On the requirements for targeted internal control rules to combat the legalization (laundering) of proceeds from crime, the financing of terrorism, extremist activity and the financing of the proliferation of weapons of mass destruction, on the qualification requirements for special officials responsible for the implementation of targeted internal control rules to combat the legalization (laundering) of proceeds from crime, the financing of terrorism, extremist activity and the financing of the proliferation of weapons of mass destruction, and on the procedure for informing organizations carrying out transactions with funds or other property that are members of a banking group or banking holding company, on the introduction of the ban specified in Part Two of Article 13 of Federal Law No. 115-FZ of August 7, 2001 “On Combating the Legalization (Laundering) of Proceeds from Crime and the Financing of Terrorism”

Draft Bank of Russia instruction “On the procedure for notification by a bank (other credit institution) of the opening or closing of an account, of a change in account details, of a change in account details in electronic form to the territorial body of the insurer”

Draft Bank of Russia Instruction “On Amending Bank of Russia Instruction No. 3701-U of June 29, 2015 “On the Procedure for Sending Requests and Receiving Information from the Central Catalog of Credit Histories by Submitting a Request through a Notary”

Draft Bank of Russia Instruction “On Amendments to Bank of Russia Instruction No. 135-I of April 2, 2010”

Draft Bank of Russia Instruction “On the cases and procedure for partial redemption of investment units of a closed-end mutual investment fund without the owner of the investment units submitting a request for their redemption”

Draft Bank of Russia Instruction “On Amendments to Bank of Russia Instruction No. 6568-U dated October 6, 2023”

Summary table of comments and suggestions on the draft Bank of Russia instruction “On Amendments to Bank of Russia Instruction dated September 18, 2017 No. 4533-U”

Summary table of comments, suggestions and questions on the draft Bank of Russia Instruction “On types of assets, characteristics of types of assets for which risk coefficient surcharges are established, and on the application of surcharges to the specified types of assets when credit institutions determine capital adequacy standards”

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

.

MIL OSI Russia News –

July 24, 2025
MIL-OSI United Nations: 24 July 2025 Departmental update WHO and UNODC release landmark report on contaminated medicines, urging action to protect patients from preventable harm
Source: World Health Organisation

The World Health Organization (WHO) and the United Nations Office on Drugs and Crime (UNODC) have jointly released a landmark report unveiling critical findings on the persistent and preventable threat of contaminated medicines which claimed the lives and compromised the health of countless patients, predominantly children, through the ingestion of medicines with dangerously high levels of toxic chemicals.

Over the past 90 years, at least 25 documented incidents of excipient contamination have resulted in more than 1300 deaths worldwide, many of them children. These incidents occur often due to systemic vulnerabilities in the global supply chain of pharmaceutical excipients, and they have disproportionately affected people in low- and middle-income countries (LMICs), where regulatory oversight and access to quality-assured medicines may be limited.

Titled “Contaminated medicines and integrity of the pharmaceutical excipients supply chain”, the report highlights a tragic and ongoing public health crisis: the contamination of medicines with industrial-grade toxic chemicals, notably diethylene glycol (DEG) and ethylene glycol (EG).

These substances are used as industrial solvents and antifreeze agents but can cause severe health issues and be fatal if ingested, even in small amounts, especially for children. They are often illegally substituted for pharmaceutical-grade excipients such as propylene glycol, glycerin, and sorbitol—ingredients used in the formulation of medicines, including cough and paracetamol syrups.

Since October 2022, WHO has issued 7 Medical Product Alerts concerning multiple batches of contaminated liquid oral medicines, many of which were marketed for paediatric use and exported widely to LMIC. WHO also issued 2 Alerts concerning falsified bulk chemicals masquerading as pharmaceutical quality excipients.

Following a particularly serious case in The Gambia, in which at least 66 children lost their lives, attention was once again focused on this issue. The case in The Gambia was quickly followed by similar incidents in Indonesia and Uzbekistan with a further 268 reported deaths and two further WHO Medical Product Alerts.

Most of the recent cases involve inexpensive oral liquid medicines that can be bought without a prescription. In most cases these medicines were marketed specifically for children and are registered medicines available in pharmacies, medicine stores or informal street markets.

Key findings

The report reveals how criminal networks exploit market volatility and regulatory gaps to introduce toxic substitutes into the supply chain. Key findings include:
- The use of falsified labels and substitution of toxic chemicals for legitimate excipients such as propylene glycol.
- The marketing of falsified excipients via online platforms, including e-commerce and social media.
- A lack of regulatory oversight for manufacturers and distributors of high-risk excipients.
- Deficiencies in post-market surveillance and enforcement mechanisms in both manufacturing and importing countries.
- Intentional criminal conduct, including deliberate falsification of excipients and documentation, contributing directly to multiple contamination incidents.
- Inadequate coordination and capacity among regulatory, customs and law enforcement authorities hindering timely investigations and prosecutions in some jurisdictions.
Call to action

The report calls for urgent global action to close regulatory gaps, strengthen oversight of excipient supply chains and protect all populations, especially the most vulnerable such as children, from preventable and deadly poisoning.

WHO has long played a central and proactive role in preventing, detecting, and responding to substandard and falsified medical products. This report reinforces the critical importance of strong and effective medicines regulatory systems to ensure access to safe, effective and quality-assured products.

Complementing this public health perspective, UNODC highlights the criminal dimension of the issue, documenting how organized criminal groups falsify documentation, substitute industrial-grade chemicals and exploit digital platforms to illegally infiltrate the global pharmaceutical supply chain with toxic and unregulated substances. Its contribution underscores the importance of criminal justice responses in parallel to regulatory action.

The report underscores the need for:
- Improved regulatory frameworks and enforcement mechanisms.
- Enhanced compliance by manufacturers and distributors.
- Greater transparency and traceability in the excipient supply chain.
- Stronger collaboration between health authorities, law enforcement and the private sector.
- Closer collaboration and timely information exchange between regulatory authorities, law enforcement and customs to support investigations and prosecutions.
- Greater enforcement of existing laws, including the application of sanctions in cases of critical non-compliance with regulations related to contaminated excipients.
- Improved investigation quality and prosecutorial capacity to address intentional acts of contamination and falsification of pharmaceutical excipients.
- Strengthened post-market surveillance mechanisms to detect and respond to incidents with potential criminal dimensions.
- Enhanced legal and operational frameworks to address the deliberate falsification of labels, certificates of analysis and excipient composition.
In many cases, contaminated medicines are the result of intentional criminal conduct. Addressing this threat requires coordinated efforts by all stakeholders, including law enforcement agencies, customs officials, prosecutors and anti-corruption bodies. The report calls for greater cross-border cooperation, investigative capacity and the use of international legal instruments such as the United Nations Convention against Transnational Organized Crime (UNTOC).

WHO and UNODC urge Member States, national regulatory authorities, criminal justice actors, law enforcement agencies, pharmaceutical manufacturers and excipient distributors to take immediate decisive action to prevent further avoidable tragedies. Failure to act now risks condemning future generations of children to the same unacceptable and avoidable harms.

A collaborative effort grounded in global partnership

This report is the result of a collaborative effort involving national regulatory authorities (NRAs) and global health partners. Its development was made possible through the generous support of the Fleming Fund and the Gates Foundation.

WHO and UNODC extend their sincere appreciation to all stakeholders who contributed to this important work, particularly the NRAs of The Gambia, Indonesia and Pakistan, whose experiences and insights were instrumental in shaping the report’s findings.

MIL OSI United Nations News –
July 24, 2025
MIL-OSI Europe: Study – Artificial Intelligence and Civil Liability – 24-07-2025

Source: European Parliament

This study, commissioned by the European Parliament’s Policy Department for Justice, Civil Liberties and Institutional Affairs at the request of the Committee on Legal Affairs, critically analyses the EU’s evolving approach to regulating civil liability for artificial intelligence systems. In order to avoid regulatory fragmentation between Member States, the study advocates for a strict liability regime targeting high-risk systems, structured around a single responsible operator and grounded in legal certainty, efficiency and harmonisation.

MIL OSI Europe News –

July 24, 2025
MIL-OSI United Kingdom: Milestone for city’s Dementia Hub

Source: City of Coventry

Coventry’s pioneering Dementia Hub celebrated its second anniversary this week.

The occasion was marked by a small celebration event which was attended by residents and partners from across the city. Attendees had the opportunity to hear from some of the people behind the Hub’s success and to reflect on its future.

Since opening in July 2023, the Coventry Dementia Partnership Hub has become a pillar of adult social care services in the city. Every year, the hub and its staff help around 4,000 people access essential support and guidance.

Beyond that support, the Coventry Dementia Partnership Hub also offers a safe, caring space for those living with Dementia where they can meet other people and take part in fun activities such as singing and dancing.

The hub involves a number of partners working together, including Admiral Nurses, Age UK, the Alzheimer’s Society, Carers’ Trust, Lions Club of Coventry Godiva, the Council, the Coventry Police Partnership Team, Dementia Champions, and more.

Speaking at the event Cllr Linda Bigham, Cabinet Member for Adult Social Care, reflected on the importance of the hub to the city.

She said: “Dementia is a lonely, isolating illness which impacts thousands of people across Coventry. That’s why we launched the hub, we wanted a place for people to come together, make friends and get the support they need.

“It’s so heart-warming to visit the building and hear first-hand the impact it’s been having on residents and their carers.

“None of this would be possible without our partners and staff. Without them this would just be a building but because of their commitment it’s a sanctuary for so many people.”

Stuart Jennings, Honorary Vice President of the Alzheimer’s Society, also attended the event.

He said:” This is a place where people find friendship, encouragement, advice and even manage to raise a smile.

“The hub is an example, not only across Coventry but nationally. It’s a model that, in my role, I hold up as a shining example for other cities to follow.”

[embedded content]

Find out more about the Hub by visiting the Council’s Website.

MIL OSI United Kingdom –

July 24, 2025
MIL-OSI Asia-Pac: Inland Revenue Department alerts public to fraudulent emails

Source: Hong Kong Government special administrative region

Inland Revenue Department alerts public to fraudulent emails
The IRD has no connection with the emails and has reported the case to the Police for further investigation.

The IRD reminded members of the public not to open suspicious emails or visit hyperlinks provided in such emails.
Issued at HKT 17:10

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CategoriesMIL-OSI

MIL OSI Asia Pacific News –

July 24, 2025
MIL-OSI Africa: Boys rescued from mountain cliffs near Mahlakwane village

Source: Government of South Africa

Thursday, July 24, 2025

Communities in Sekhukhune, Limpopo, have been urged to explore mountains cautiously and with proper guidance or supervision after four young boys went missing and required a search and rescue operation to be rescued.

On Monday, 21 July 2025, four boys from Mahlakwane village in Sekhukhune went to the mountain to hunt until late at night.

They failed to return home and the following day, family members went to the police station to report them missing.

“The report prompted the police to launch an immediate joint search operation conducted by Zaiplaas Vispol members, Burgersfort K9 unit, the Search and Rescue team, Emergency Medical Services personnel, fire department and community members.

“They then embarked on a search with a view to safely rescue the four young boys, aged between nine and 19, who were trapped in the cliffs on the mountain at Mahlakwana village,” said the police in a statement.

Three were successfully rescued, while the eldest one was found at his home after the operation.

Provincial Commissioner of Police in Limpopo, Lieutenant General Thembi Hadebe, cautioned communities to explore mountains safely.

“This warning aims to raise awareness to prevent similar incidents and ensure public safety. We urge parents and guardians to take extra care of their children and to ensure that they are aware of their whereabouts at all times,” said Hadebe. – SAnews.gov.za

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MIL OSI Africa –

July 24, 2025
MIL-OSI Africa: Gauteng welcomes arrests in high profile cases

Source: Government of South Africa

The Gauteng Provincial Legislature’s Portfolio Committee on Community Safety has commended the South African Police Service (SAPS) for their swift and decisive action in apprehending suspects linked to several high-profile crimes.

These cases include the tragic murder of City of Ekurhuleni Chief Auditor, Mpho Mafole, as well suspects linked to the murder of renowned DJ Sumbody, the killing of engineer Armand Swart, and the attempted murder of actress Tebogo Thobejane.

“These developments reflect the commitment and capability of law enforcement to pursue justice and dismantle criminal networks that threaten public safety and the rule of law.

“However, while these successes are commendable, the committee emphasises that all victims of crime, regardless of their public profile, deserve equal attention, protection and justice. The fight against crime must be consistent and inclusive,” Chairperson of the Portfolio Committee on Community Safety, Bandile Masuku, said on Thursday.

Mafole, who served as the Group Divisional Head for Corporate and Forensic Audits, was brutally gunned down in Kempton Park last month in an execution-style killing.

His death sent shockwaves across the province, while highlighting the grave risks faced by public servants committed to transparency and good governance.

“The committee welcomes the arrest of one suspect, who appeared in the Kempton Park Magistrate’s Court yesterday. However, the second suspect, Hlanganani Agripper Mncwango, remains at large. The committee urges law enforcement to intensify efforts and leave no stone unturned in ensuring his swift apprehension,” Masuku said.

The case was postponed to 15 August 2025 for further investigation.

“It is particularly alarming that the arrested suspect was reportedly out on bail for a similar murder charge at the time of Mafole’s killing. This raises serious concerns about the adequacy of bail conditions in cases involving violent crimes and calls for an urgent review of current judicial practices to prevent repeat offenses and safeguard communities.

“The committee also applauds SAPS for recent breakthroughs in other high profile cases, including the arrests of suspects linked to the murder of renowned DJ Sumbody, the killing of Swart, and the attempted murder of actress Thobejane. Crucially, the committee reiterates that trust between the police and the communities they serve is fundamental to effective policing.

“Building and maintaining this trust requires transparency, accountability, and ongoing engagement. Communities must feel confident that their safety is a priority and that their cooperation with law enforcement will lead to meaningful outcomes. Without this trust, efforts to combat crime will be severely undermined,” Masuku said. – SAnews.gov.za

MIL OSI Africa –

July 24, 2025
MIL-OSI Africa: Alleged Chinese fugitive arrested in SA

Source: Government of South Africa

Thursday, July 24, 2025

The International Criminal Police Organisation’s (INTERPOL) National Central Bureau (NCB) in Pretoria has arrested a 57-year-old Chinese fugitive, who is believed to be linked to a case of fraud reported in China.

According to a preliminary report, INTERPOL circulated a Red Notice to all member countries to locate and provisionally arrest the Chinese national.

This as wanted persons often flee to another country to evade their arrest.

“The suspect reportedly applied for a visa at the United States of America Embassy in Sandton when his fugitive status was flagged, leading to his arrest on Tuesday, 22 July 2025,” said the police in a statement.

The suspect made his first appearance in the Randburg Magistrate’s Court on Wednesday, 23 July 2025.

The police said the INTERPOL NCB continues to record commendable successes in dismantling transnational crime syndicates and arresting international fugitives in the country. – SAnews.gov.za

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MIL OSI Africa –

July 24, 2025
MIL-OSI Security: Smuggler of Firearms from Key West to Haiti Sentenced in D.C. to 30 Months in Prison

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

WASHINGTON – Jean Wiltene Eugene, 57, of Key West, Florida, was sentenced today in U.S. District Court to 30 months in prison and a $20,000 fine for his role in a gunrunning operation that illegally exported firearms to Haiti, announced U.S. Attorney Jeanine Ferris Pirro.

Eugene pleaded guilty on April 11, 2025, to one count of smuggling. In addition to the prison term, Judge Carl J. Nichols ordered Eugene to serve 24 months of supervised release.

Joining in the announcement of the sentence were Assistant Attorney General John A. Eisenberg of the Justice Department’s National Security Division, and FBI Acting Special Agent in Charge Justin Fleck of the Miami Field Office.

According to court documents, Eugene is a U.S. citizen who was born in Haiti and resides in Key West. On Sept. 23, 2021, Eugene knowingly exported more than two firearms from the United States to Haiti contrary to U.S. laws and regulations, including the prohibitions in the Export Administration Regulations and the Export Control Reform Act of 2018, knowing the firearms were intended for exportation contrary to such laws and regulations. In particular, Eugene exported the firearms without having first obtained the required license from the Bureau of Industry and Security, located in the District of Columbia. Anyone who violates the smuggling statute may be fined up to $250,000 and imprisoned for up to 10 years.

Eugene arranged to ship vehicles to Haiti through a Florida-based export company. Eugene signed the company’s terms and conditions of shipments, which required the shipper to affirm that the vehicles did not contain any firearms or ammunition. In a subsequent interview with law enforcement, Eugene admitted that, in 2020 and 2021, he shipped two vehicles to Haiti with firearms hidden inside. Eugene stated that he placed food and other items around the bins holding the firearms so border authorities would not find the weapons.

In a later interview with federal agents, Eugene stated that nine firearms he purchased in Key West under his name were currently located at his gas station in Haiti and that none of those firearms remained in the United States. He admitted that he knew it was illegal to ship weapons to Haiti when confronted by the federal agents.

Eugene was arrested May 4, 2024, in Key West.

This case was investigated by the FBI Miami Field Office with assistance from the Bureau of Alcohol, Tobacco, Firearms and Explosives and the Department of Commerce’s Office of Export Enforcement. It was prosecuted by Assistant U.S. Attorney Kimberly Paschall and Trial Attorney Beau Barnes of the National Security Division, as well as former Assistant U.S. Attorney Pravallika Palacharla. Substantial assistance was provided by the United States Attorney’s Office for the Southern District of Florida.

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MIL Security OSI –

July 24, 2025
MIL-OSI Security: Member of Frankford-Based Drug Gang Sentenced to 75 Years in Prison for Killing Philadelphia Police Sergeant James O’Connor, Kaseem Rogers, Tyrone Tyree, and Dontae Walker, and Additional Drug, Gun, and Violent Crimes

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

PHILADELPHIA – United States Attorney David Metcalf announced that Hassan Elliott, aka “Haz,” 26, of Philadelphia, Pennsylvania, was sentenced today by United States District Judge Juan R. Sánchez to 900 months in prison, five years of supervised release, and a special assessment of $2,500 for the fatal shootings of Philadelphia Police Sergeant James O’Connor, Kaseem Rogers, Tyrone Tyree, and Dontae Walker, and numerous other crimes arising from the defendant’s membership in a violent drug trafficking organization known by several names, including “SG1700” and “L-Block,” which operated in the Frankford section of Northeast Philadelphia.

Elliott, along with Khalif Sears, aka “Leaf” and “Lil Leaf,” 23, Kelvin Jimenez, aka “Nip,” 34, and Dominique Parker, aka “Dom,” 34, all of Philadelphia, were charged in March 2023 by superseding indictment with conspiracy to engage in a racketeer influenced corrupt organization (RICO), violent crimes in aid of racketeering, to include murder, stemming from the killings of victims Rogers, Walker, Tyree, and Sergeant O’Connor, and numerous related offenses.

Elliott and Sears pleaded guilty this January to RICO conspiracy, drug trafficking conspiracy, causing the death of Sergeant O’Connor by firearm, and multiple drug, gun, and violent offenses.

Jimenez and Parker were convicted at trial in March of all charges against them, including racketeering conspiracy, drug trafficking conspiracy, maintaining a drug-involved premises, assaults in aid of racketeering, firearms offenses, and related crimes. Jimenez was also convicted of the murder of Kaseem Rogers, and Parker of the murder of Dontae Walker.

On March 13, 2020, Elliott, Sears, and others previously indicted were inside a stash house on the 1600 block of Bridge Street, when Sergeant O’Connor and other members of the Philadelphia Police Department SWAT team arrived with an arrest warrant for Elliott for the March 2019 murder of Tyrone Tyree. As Sergeant O’Connor and his fellow officers ascended the staircase to the second floor of the residence and repeatedly announced their presence, Elliott fired a semiautomatic assault rifle 16 times, striking and killing Sergeant O’Connor.

Sears, Parker, and Jimenez will be sentenced at a later date.

“Hassan Elliott murdered a police officer who was protecting and serving his community,” said U.S. Attorney Metcalf. “Unfortunately, Philadelphia Police Department Sergeant James O’Connor is only one of many victims of SG1700’s rampage of violence. The punishment Mr. Elliott received today is justice for these outrageous crimes, and our efforts — past, present, and future — to prosecute anyone who harms law enforcement will forever honor the sacrifice of Sergeant O’Connor.”

“Hassan Elliott is now facing justice for the murder of Sergeant O’Connor and his other victims,” said Eric DeGree, Special Agent in Charge of the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) Philadelphia Field Division. “Criminal gang members can’t hide from the mayhem they inflict, especially when their violence turns against the law enforcement officers who protect our communities. Thanks to the diligent and meticulous work in partnership with the Philadelphia Police Department and U.S. Attorney’s Office, Elliott and those who enabled him are being held accountable for these heinous crimes.”

The case was investigated by the ATF and the Philadelphia Police Department and is being prosecuted by Assistant United States Attorneys Ashley Martin, Christopher Diviny, and Lauren Stram.

MIL Security OSI –

July 24, 2025
MIL-OSI Security: CONVICTED FELON CHARGED WITH POSSESSION OF A FIREARM

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

PENSACOLA, FLORIDA – Jason Wayne Coleman, 41, of Pensacola, Florida, has been indicted in federal court for two counts of possession of a firearm by a convicted felon. John P. Heekin, United States Attorney for the Northern District of Florida, announced the charges.

Coleman appeared before United States Magistrate Judge Zachary C. Bolitho at the United States Courthouse in Pensacola, Florida on July 22, 2025.

Coleman faces a maximum of 15 years’ imprisonment for each count.

The Bureau of Alcohol, Tobacco, Firearms and Explosives and the Escambia County Sheriff’s Office are investigating the case. Assistant United States Attorney Jessica S. Etherton is prosecuting the case.

An indictment is merely an allegation by a grand jury that a defendant has committed a violation of federal criminal law and is not evidence of guilt. All defendants are presumed innocent and entitled to a fair trial, during which it will be the government’s burden to prove guilt beyond a reasonable doubt at trial.

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

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

MIL Security OSI –

July 24, 2025
Supreme Court stays Bombay HC verdict acquitting 12 accused in 2006 Mumbai train blasts case

Source: Government of India

Source: Government of India (4)

The Supreme Court of India on Thursday stayed a Bombay High Court judgment that acquitted 12 men convicted in the 2006 Mumbai train bombings, after the Maharashtra government argued that the ruling could undermine ongoing cases under the Maharashtra Control of Organised Crime Act (MCOCA).

The court made it clear that its order would not affect the release of the 12 men, all of whom had already been freed following their acquittal.

A bench of Justices M.M. Sundresh and N. Kotiswar Singh also issued notices to all 12 acquitted individuals and sought their responses to the state’s appeal.

Solicitor General Tushar Mehta, representing the Maharashtra government, told the court that the state was not seeking to reverse the release of the accused but was concerned about the broader implications of the High Court’s findings. Accepting the argument, the bench said the Bombay High Court’s ruling would not carry precedential value until further orders.

The High Court, in its judgment delivered on July 21, had overturned the 2015 convictions of the 12 men by a special MCOCA court. Five of the accused had been sentenced to death and the rest to life imprisonment. The court found that the prosecution had failed to establish the charges beyond reasonable doubt, describing the investigation as flawed and marred by procedural lapses.

Additionally, the court found serious issues with the reliability of eyewitness accounts.

On July 11, 2006, seven bombs exploded in packed Mumbai local trains, bringing the city to a standstill within 11 minutes.

The coordinated terror attack left 189 dead and over 800 injured.

July 24, 2025
MIL-Evening Report: Israel waging ‘horror show’ starvation campaign in Gaza, says UN chief

This is Democracy Now!. I’m Amy Goodman.

More than 100 humanitarian groups are demanding action to end Israel’s siege of Gaza, warning mass starvation is spreading across the Palestinian territory.

The NGOs, including Amnesty International, Oxfam, Doctors Without Borders, warn, “illnesses like acute watery diarrhea are spreading, markets are empty, waste is piling up, and adults are collapsing on the streets from hunger and dehydration.”

Their warning came as the Palestinian Ministry of Health said the number of starvation-related deaths has climbed to at least 111 people.

This is Ghada al-Fayoumi, a displaced Palestinian mother of seven in Gaza City.

GHADA AL-FAYOUMI: “[translated] My children wake up sick every day. What do I do? I get saline solution for them. What can I do?

“There’s no food, no bread, no drinks, no rice, no sugar, no cooking oil, no bulgur, nothing. There is no kind of any food available to us at all.”

AMY GOODMAN: Thousands of antiwar protesters marched on Tuesday in Tel Aviv outside Israel’s military headquarters, demanding an end to Israel’s assault and a lifting of the Gaza siege. This is Israeli peace activist Alon-Lee Green with the group Standing Together.

ALON-LEE GREEN: “We are marching now in Tel Aviv, holding bags of flour and the pictures of these children that have been starved to death by our government and our army.

“We demand to stop the starvation in Gaza. We demand to stop the annihilation of Gaza. We demand to stop the daily killing of children and innocent people in Gaza.

“This cannot go on. We are Israelis, and this does not serve us. This only serves the Messianic people that lead us.”

AMY GOODMAN: This comes as the World Health Organisation has released a video showing the Israeli military attacking WHO facilities in central Gaza’s Deir al-Balah. A WHO spokesperson condemned the attack, called for the immediate release of a staff member abducted by Israeli forces.

TARIK JAŠAREVIĆ: “Male staff and family members were handcuffed, stripped, interrogated on the spot and screened at gunpoint.

“Two WHO staff and two family members were detained.”

AMY GOODMAN: Meanwhile, health officials in Gaza say Israeli attacks over the past day killed more than 70 people, including five more people seeking food at militarised aid sites. Amid growing outrage worldwide, UN Secretary-General António Guterres said on Tuesday the situation in Gaza right now is a “horror show”.

UN SECRETARY-GENERAL ANTÓNIO GUTERRES: “We need look no further than the horror show in Gaza, with a level of death and destruction without parallel in recent times.

“Malnourishment is soaring. Starvation is knocking on every door.”

AMY GOODMAN: For more, we’re joined by Michael Fakhri, the UN Special Rapporteur on the Right to Food. He is a professor of law at University of Oregon, where he leads the Food Resiliency Project.

[embedded content]
Israel waging ‘fastest starvation campaign’ in modern history Video: Democracy Now!

Dr Michael Fakhri, welcome back to Democracy Now! If you can respond to what’s happening right now, the images of dying infants starving to death, the numbers now at over 100, people dropping in the streets, reporters saying they can’t go on?

Agence France-Presse’s union talked about they have had reporters killed in conflict, they have had reporters disappeared, injured, but they have not had this situation before with their reporters starving to death.

DR MICHAEL FAKHRI: Amy, the word “horror” — I mean, we’re running out of words of what to say. And the reason it’s horrific is it was preventable. We saw this coming. We’ve seen this coming for 20 months.

Israel announced its starvation campaign back in October 2023. And then again, Prime Minister Netanyahu announced on March 1 that nothing was to enter Gaza. And that’s what happened for 78 days. No food, no water, no fuel, no medicine entered Gaza.

And then they built these militarised aid sites that are used to humiliate, weaken and kill the Palestinians. So, what makes this horrific is it has been preventable, it was predictable. And again, this is the fastest famine we’ve seen, the fastest starvation campaign we’ve seen in modern history.

AMY GOODMAN: So, can you talk about what needs to be done at this point and the responsibility of the occupying power? Israel is occupying Gaza right now. What it means to have to protect the population it occupies?

DR FAKHRI: The International Court of Justice outlined Israel’s duties in its decisions over the last year. So, what Israel has an obligation to do is, first, end its illegal occupation immediately. This came from the court itself.

Second, it must allow humanitarian relief to enter with no restrictions. And this hasn’t been happening. So, usually, we would turn to the Security Council to authorise peacekeepers or something similar to assist.

But predictably, again, the United States keeps vetoing anything to do with a ceasefire. When the Security Council is in a deadlock because of a veto, the General Assembly, the UN General Assembly, has the authority to call for peacekeepers to accompany humanitarian convoys to enter into Gaza and to end Israel’s starvation campaign against the Palestinian people.

AMY GOODMAN: People actually protested outside the house of UN Secretary-General António Guterres yesterday. People protested all over the world yesterday against the Palestinians being starved and bombed to death. Those in front of the UN Secretary-General’s house said they don’t dispute that he has raised this issue almost every day, but they say he can do more.

Finally, Michael Fakhri, what does the UN need to do — the US, Israel, the world?

DR FAKHRI: So, as I mentioned, first and foremost, they can authorise peacekeepers to enter to stop the starvation. But, second, they need to create consequences.

The world has a duty to prevent this starvation. The world has a duty to prevent and end this genocide. And as a result, then, what the world can do is impose sanctions.

And again, this is supported by the International Court of Justice. The world needs to impose wide-scale sanctions against the state of Israel to force it to end the starvation and genocide of civilians, of Palestinian civilians in Gaza today.

AMY GOODMAN: Well, I want to thank you so much for being with us, Michael Fakhri, UN Special Rapporteur on the Right to Food, speaking to us from Eugene, Oregon.

Article by AsiaPacificReport.nz

MIL OSI Analysis – EveningReport.nz –

July 24, 2025
MIL-OSI Submissions: Historic ruling finds climate change ‘imperils all forms of life’ and puts laggard nations on notice

Source: The Conversation – Global Perspectives – By Jacqueline Peel, Professor of Law and Director, Melbourne Climate Futures, The University of Melbourne

Hilaire Bule/Getty

Climate change “imperils all forms of life” and countries must tackle the problem or face consequences under international law, the International Court of Justice (ICJ) has found.

The court delivered its long-awaited advisory opinion overnight. The momentous case opens the door for countries impacted by climate disasters to sue major emitting countries for reparations.

And citizens could seek to hold governments to account for a failure to safeguard their human rights if their own or other countries fail to take adequate action to ensure a safe climate.

Here’s what the court ruled – and the global ramifications likely to flow from it.

Vanuatu’s Climate Change Minister Ralph Regenvanu delivers a speech at a demonstration before the International Court of Justice issued its first advisory opinion on state’s legal obligations to address climate change.
John Thys/AFP

Climate change breaches human rights

The ICJ case was instigated by law students at the University of the South Pacific in Vanuatu in 2019. They successfully launched a campaign for the court to examine two key issues: the obligations of countries to protect the climate from greenhouse gases, and the legal consequences for failing to do so.

The court found a clean, healthy and sustainable environment is essential for the enjoyment of many other human rights. As such, it found, the full enjoyment of human rights cannot be ensured without the protection of the climate system and other parts of the environment.

The ruling confirms climate change is much more than a legal problem. Rather, the justices concluded, it is an:

existential problem of planetary proportions that imperils all forms of life and the very health of our planet.

Most nations have signed up to global human rights agreements such as the International Covenant on Civil and Political Rights. The ICJ ruling means parties to those agreements must take measures to protect the climate system and other parts of the environment.

An advisory opinion from the International Court of Justice is not legally binding. But it is an authoritative description of the state of the law and the rights of countries to seek reparations if the law is breached. As such, it carries great legal weight.

Just as climate science assessments of the Intergovernmental Panel on Climate Change have become the gold standard for understanding the causes and impacts of climate change, the court’s ruling provides a clear baseline against which to assess countries’ action, or inaction, on climate change.

Keeping 1.5°C alive?

In recent years, many states’ emissions reduction targets under the Paris Agreement have seemed to “settle” at levels which would hold global temperature increases to 2°C at best.

But the International Court of Justice ruled the much more ambitious 1.5°C goal had become the scientifically based consensus target under the Paris Agreement.

Some countries argued formal emissions targets should be left to the discretion of each government. However, the court found against this. Rather, each nation’s targets had to be in line with – and make an adequate contribution to – the global goal of holding heating to 1.5°C.

The court found each state’s emissions reduction pledges should be judged against a stringent “due diligence” standard. The standard takes into account each country’s historical contributions to emissions, level of development and national circumstances, among other factors.

The ruling means rich countries, such as Australia, will be required under international law to make more ambitious emission-reduction pledges under the Paris Agreement, such as for the 2035 target currently under consideration by the Albanese government.

The court decision also provides a measure of climate justice for small island states, which have historically low emissions but face a much higher risk of damage from climate change than other nations.

Holding states accountable for inaction

Because climate change is global, it is difficult – but not impossible – to attribute damage from extreme weather to the actions of any one nation or group of nations.

On this question, the court said while climate change is caused by the cumulative impact of many human activities, it is scientifically possible to determine each nation’s total contribution to global emissions, taking into account both historical and current emissions.

If a nation experiences damage caused by the failure of another nation, or group of nations, to fulfil international climate obligations, the ruling means legal proceedings may be launched against the nations causing the harm. It may result in compensation or other remedies.

For small, climate-vulnerable nations such as those in the Alliance of Small Island States, this opens more legal options in their efforts to encourage high-emitting nations to properly address climate change.

Importantly, the court made clear nations can be legally liable even if damage from climate change comes from many causes, including from the activities of private actors such as companies.

That means nations cannot seek an exemption because others have contributed to the problem. They must also act to regulate companies and other entities under their jurisdiction whose activities contribute to climate change.

Pacific Island nations emit very little but face huge threats from climate change.
Luca Turati/Unsplash, CC BY-NC-ND

Paris Agreement quitters aren’t safe

One line of argument put to the court by Australia and other states was that climate treaties represented the only obligations to tackle climate change under international law.

But the court found this was not the case. Rather, other international laws applied.

The United States pulled out of the Paris Agreement earlier this year. The court’s opinion means the US and other nations are still accountable for climate harms under other international laws by which all countries are bound.

Could this lead to greater climate action?

The International Court of Justice has produced a truly historic ruling.

It will set a new baseline in terms what countries need to do to address climate change and opens up new avenues of recourse against high-emitting states not doing enough on climate change.

Jacqueline Peel receives funding from the Australian Research Council under her Australian Laureate Fellowship and Kathleen Fitzpatrick Award on ‘Transforming International Law for Corporate Climate Accountability’.

– ref. Historic ruling finds climate change ‘imperils all forms of life’ and puts laggard nations on notice – https://theconversation.com/historic-ruling-finds-climate-change-imperils-all-forms-of-life-and-puts-laggard-nations-on-notice-261848

MIL OSI –

July 24, 2025
MIL-Evening Report: Historic ruling finds climate change ‘imperils all forms of life’ and puts laggard nations on notice

Source: The Conversation (Au and NZ) – By Jacqueline Peel, Professor of Law and Director, Melbourne Climate Futures, The University of Melbourne

Hilaire Bule/Getty

Climate change “imperils all forms of life” and countries must tackle the problem or face consequences under international law, the International Court of Justice (ICJ) has found.

The court delivered its long-awaited advisory opinion overnight. The momentous case opens the door for countries impacted by climate disasters to sue major emitting countries for reparations.

And citizens could seek to hold governments to account for a failure to safeguard their human rights if their own or other countries fail to take adequate action to ensure a safe climate.

Here’s what the court ruled – and the global ramifications likely to flow from it.

Vanuatu’s Climate Change Minister Ralph Regenvanu delivers a speech at a demonstration before the International Court of Justice issued its first advisory opinion on state’s legal obligations to address climate change.
John Thys/AFP

Climate change breaches human rights

The ICJ case was instigated by law students at the University of the South Pacific in Vanuatu in 2019. They successfully launched a campaign for the court to examine two key issues: the obligations of countries to protect the climate from greenhouse gases, and the legal consequences for failing to do so.

The court found a clean, healthy and sustainable environment is essential for the enjoyment of many other human rights. As such, it found, the full enjoyment of human rights cannot be ensured without the protection of the climate system and other parts of the environment.

The ruling confirms climate change is much more than a legal problem. Rather, the justices concluded, it is an:

existential problem of planetary proportions that imperils all forms of life and the very health of our planet.

Most nations have signed up to global human rights agreements such as the International Covenant on Civil and Political Rights. The ICJ ruling means parties to those agreements must take measures to protect the climate system and other parts of the environment.

An advisory opinion from the International Court of Justice is not legally binding. But it is an authoritative description of the state of the law and the rights of countries to seek reparations if the law is breached. As such, it carries great legal weight.

Just as climate science assessments of the Intergovernmental Panel on Climate Change have become the gold standard for understanding the causes and impacts of climate change, the court’s ruling provides a clear baseline against which to assess countries’ action, or inaction, on climate change.

Keeping 1.5°C alive?

In recent years, many states’ emissions reduction targets under the Paris Agreement have seemed to “settle” at levels which would hold global temperature increases to 2°C at best.

But the International Court of Justice ruled the much more ambitious 1.5°C goal had become the scientifically based consensus target under the Paris Agreement.

Some countries argued formal emissions targets should be left to the discretion of each government. However, the court found against this. Rather, each nation’s targets had to be in line with – and make an adequate contribution to – the global goal of holding heating to 1.5°C.

The court found each state’s emissions reduction pledges should be judged against a stringent “due diligence” standard. The standard takes into account each country’s historical contributions to emissions, level of development and national circumstances, among other factors.

The ruling means rich countries, such as Australia, will be required under international law to make more ambitious emission-reduction pledges under the Paris Agreement, such as for the 2035 target currently under consideration by the Albanese government.

The court decision also provides a measure of climate justice for small island states, which have historically low emissions but face a much higher risk of damage from climate change than other nations.

Holding states accountable for inaction

Because climate change is global, it is difficult – but not impossible – to attribute damage from extreme weather to the actions of any one nation or group of nations.

On this question, the court said while climate change is caused by the cumulative impact of many human activities, it is scientifically possible to determine each nation’s total contribution to global emissions, taking into account both historical and current emissions.

If a nation experiences damage caused by the failure of another nation, or group of nations, to fulfil international climate obligations, the ruling means legal proceedings may be launched against the nations causing the harm. It may result in compensation or other remedies.

For small, climate-vulnerable nations such as those in the Alliance of Small Island States, this opens more legal options in their efforts to encourage high-emitting nations to properly address climate change.

Importantly, the court made clear nations can be legally liable even if damage from climate change comes from many causes, including from the activities of private actors such as companies.

That means nations cannot seek an exemption because others have contributed to the problem. They must also act to regulate companies and other entities under their jurisdiction whose activities contribute to climate change.

Pacific Island nations emit very little but face huge threats from climate change.
Luca Turati/Unsplash, CC BY-NC-ND

Paris Agreement quitters aren’t safe

One line of argument put to the court by Australia and other states was that climate treaties represented the only obligations to tackle climate change under international law.

But the court found this was not the case. Rather, other international laws applied.

The United States pulled out of the Paris Agreement earlier this year. The court’s opinion means the US and other nations are still accountable for climate harms under other international laws by which all countries are bound.

Could this lead to greater climate action?

The International Court of Justice has produced a truly historic ruling.

It will set a new baseline in terms what countries need to do to address climate change and opens up new avenues of recourse against high-emitting states not doing enough on climate change.

Jacqueline Peel receives funding from the Australian Research Council under her Australian Laureate Fellowship and Kathleen Fitzpatrick Award on ‘Transforming International Law for Corporate Climate Accountability’.

– ref. Historic ruling finds climate change ‘imperils all forms of life’ and puts laggard nations on notice – https://theconversation.com/historic-ruling-finds-climate-change-imperils-all-forms-of-life-and-puts-laggard-nations-on-notice-261848

MIL OSI Analysis – EveningReport.nz –

July 24, 2025
MIL-OSI USA: The Data Center Next Door: As Trump Eviscerates Guardrails, Senator Markey Hosts Roundtable Discussion on How AI Data Centers Can Harm Environment, Increase Costs to Households, and Threaten Public Health

US Senate News:

Source: United States Senator for Massachusetts Ed Markey

View Storybook (PDF)

Washington (July 23, 2025) – Senator Edward J. Markey (D-Mass.), a co-chair of the Environmental Justice Caucus and a member of the Environment and Public Works Committee and Health, Education, Labor, and Pensions Committee, today hosted a virtual roundtable discussion titled “The Data Center Next Door: Hidden Costs and Harms of Artificial Intelligence and Cryptomining.” Senator Markey was joined by Congressman Steve Cohen (TN-09), frontline advocates, and allies to discuss the effects of rapid data center development on climate and communities, including impacts on local air quality, water, grid reliability, health, and utility bills. Speakers highlighted how communities and allied organizations across the country are working to curb harms from data center build-out and how policymakers can more proactively address unsustainable data center development.

Today, Senator Markey also released a new storybook highlighting the personal experiences of individuals living near data center infrastructure.

“I have heard from people across the country whose stories make clear: unregulated, uncontrolled data center development is sucking our communities dry. Our environment doesn’t have to be a sacrificial lamb on the altar of innovation. We can have green growth—but not if we have Trump’s AI Inaction Plan as our Big Tech Bible. Lawmakers at all levels of government can and must ensure the Trump administration’s no-holds-barred approach to data center construction does not come at the cost of our health and welfare,” said Senator Markey. “We are not truly moving forward if we harm and leave people behind in the process. We owe it to our neighbors, near and far, to address these impacts at the federal level before we see a race to the bottom—one that could even disadvantage states and towns that try to do things right.”

“The heart of my district is seeing the environmental impacts of Artificial Intelligence (AI) first-hand, with the world’s biggest supercomputer beginning operations last year. It requires one million gallons of water each day to cool its components and uses the same amount of energy as all 250,000 households in Memphis combined. The continued development of AI will have a drastic effect on energy and water costs and consumption, and our environment as a whole,” said Congressman Cohen.

“Bitcoin mining is the most energy and water-intensive technology ever created. As long as the bitcoin mining algorithm is operating at scale, it is impossible to make the transition to a resilient, equitable, affordable, and renewable grid,” said Jackie Sawicky, member of the National Coalition Against Cryptomining (NCAC).

“Families across America are struggling to afford their soaring electric bills as a result of energy-guzzling AI data centers. We cannot afford to let AI fuel a new fossil fuel boom that raises our bills and destroys our environment,” said Ben Inskeep, Program Director at Citizens Action Coalition of Indiana.

“West Virginia has long borne the brunt of powering our country via the extraction of our natural resources. This legacy and continued pollution from fossil fuel industries worsened health disparities, increased our utility bills, and poisoned our air and water. The rapid growth of artificial intelligence development and the numerous proposals of fossil fuel powered data centers in our region simply carries on that toxic tradition of resource extraction, corporate exploitation, and harmful pollution for West Virginians,” said Morgan King, Climate and Energy Program Manager at West Virginia Citizen Action Group.

“What’s happening in Virginia is unsustainable and the desire to go even faster is irresponsible. The impacts are too great and the risks are too high, we must slow down and put better guardrails in place,” said Julie Bolthouse, AICP, Director of Land Use at Piedmont Environmental Council.

“Over the last year, xAI installed and operated dozens of unpermitted methane gas turbines at its Memphis data center, essentially building a power plant without any public oversight or input from nearby communities. These turbines pump out smog-forming pollution and harmful chemicals like formaldehyde and are located near predominantly Black communities that are already overburdened with a long history of environmental injustice. Families in South Memphis deserve transparency and clean air,” said Amanda Garcia, senior attorney in the Tennessee office of the Southern Environmental Law Center.

MIL OSI USA News –

July 24, 2025
Over 3.42 pilgrims had ‘Darshan’ in 21 days, Amarnath Yatra to cross officially expected 3.5-lakh mark today

Source: Government of India

Source: Government of India (4)

Since this year’s Amarnath Yatra started on July 3, more than 3.42 lakh yatris have had ‘darshan’ so far while a fresh batch of 3,500 pilgrims started their journey on Thursday from Jammu towards the two base camps, officials said.

Officials said that more than 3.42 lakh yatris have performed the ongoing Amarnath Yatra during the last 21 days as the huge rush of pilgrims continues unabated.

“The officially expected figure of 3.50 lakh yatris performing the Yatra this year is likely to be crossed on Thursday, while 17 days are still left for the conclusion of this year’s Yatra.”

“The Yatra has been going on peacefully, smoothly and this has encouraged the devotees to come in record numbers. As more than 3.42 lakh have had darshan in the last 21 days, we had another batch of 3,500 yatris, who left the Bhagwati Nagar Yatri Niwas in Jammu for the Valley on Thursday.”

“Of these, the first escorted convoy of 45 vehicles carrying 832 yatris left for the Baltal base camp at 3:25 a.m. while the second convoy of 95 vehicles carrying 2,668 yatris to the Pahalgam base camp left at 4:01 a.m.,” officials said.

The Bhumi Pujan of ‘Chhari Mubarak’ (Lord Shiva’s Holy Mace) was performed at Pahalgam on July 10. The Chhari Mubarak was then taken back to its seat at the Dashnami Akhara building.

It will start its final journey towards the cave shrine from Dashnami Akhara temple in Srinagar on August 4 and will reach the holy cave shrine on August 9, marking the official conclusion of the Yatra.

Authorities have made extensive multi-tier security arrangements for this year’s Amarnath Yatra, as it takes place after the cowardly attack of April 22 in which Pakistan-backed terrorists killed 26 civilians after segregating them based on faith in the Baisaran meadow of Pahalgam.

Additional 180 companies of Central Armed Police Forces have been brought in to augment the existing strength of the Army, BSF, CRPF, SSB and the local police.

The Army has deployed more than 8,000 special commandos to secure the passage of the pilgrims this year.

The Yatra started on July 3 and will end after 38 days on August 9, coinciding with Shravan Purnima and Raksha Bandhan.

Yatris approach the holy cave shrine situated ,888 metres above sea level in the Kashmir Himalayas either from the traditional Pahalgam route or the shorter Baltal route.

Those using the Pahalgam route pass through Chandanwari, Sheshnag and Panchtarni to reach the cave shrine, covering a distance of 46 km on foot.

This trek takes a pilgrim four days to get to the cave shrine.

Those using the shorter Baltal route have to trek 14 km to reach the cave shrine and return to the base camp the same day after having darshan.

No helicopter services are available to yatris this year due to security reasons.

The cave shrine houses an ice stalagmite structure that wanes and waxes with the phases of the moon.

Devotees believe that the ice stalagmite structure symbolises the mythical powers of Lord Shiva.

(IANS)

July 24, 2025
Lok Sabha to discuss Scheduled Tribes Reservation Bill for Goa, Merchant Shipping Bill today

Source: Government of India

Source: Government of India (4)

As the Monsoon Session of Parliament enters its fourth day, the Lok Sabha is scheduled to take up key legislative business on Thursday, including the Scheduled Tribes reservation bill for Goa and the Merchant Shipping Bill, 2024.

Union Law Minister Arjun Ram Meghwal will move The Readjustment of Representation of Scheduled Tribes in Assembly Constituencies of the State of Goa Bill, 2024 for consideration and passage. The Bill seeks to enable the reservation of seats for Scheduled Tribes in Goa’s Legislative Assembly, in line with Article 332 of the Constitution. It proposes the readjustment of assembly constituencies following the inclusion of certain communities in the Scheduled Tribes list for the state.

According to the official business list, the Bill aims to ensure “effective democratic participation of members of Scheduled Tribes” and make the necessary constituency changes to reflect this inclusion.

Also on the agenda is The Merchant Shipping Bill, 2024, which will be introduced by Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal. The legislation seeks to consolidate and modernise India’s maritime laws, aligning them with international treaties and obligations. The Bill aims to promote the development of Indian shipping and enhance the efficiency and maintenance of the country’s mercantile marine sector, while safeguarding national interests.

In addition to legislative matters, standing committees on Rural Development and Panchayati Raj, and Communications and Information Technology are expected to table reports on government actions taken in response to earlier recommendations made by the respective panels.

Parliament proceedings on Wednesday were disrupted due to continued protests by Opposition MPs over the Bihar Special Intensive Revision issue, leading to adjournments in both the Lok Sabha and Rajya Sabha until July 24.

The current Monsoon Session of Parliament is scheduled to continue until August 21. Both Houses will reconvene at 11 a.m. today.

(With agencies inputs)

July 24, 2025
MIL-OSI New Zealand: New Zealand joins fight against cybercrime
Source: New Zealand Government

New Zealanders will be better protected from cybercrime following legislation passing third reading in Parliament today, Justice Minister Paul Goldsmith says.

“11 per cent of New Zealanders were victims of fraud and cybercrime in 2024, and the National Cyber Security Centre estimates $1.6 billion was lost to online threats.

“The emotional and financial harm caused by cybercrime is significant, and such a quickly evolving threat warrants a coordinated response.

“The Budapest Convention, also known as the Council of Europe Convention on Cybercrime, is the only binding international treaty on cybercrime.

“It aligns member countries’ laws and makes it easier for them to cooperate on criminal investigations.

“By joining the convention, we are signalling to the other like-minded countries that we take cybercrime seriously and we are prepared to do our part to eliminate it.

“It will help our law enforcement agencies to protect New Zealanders, by providing the tools they need to detect, investigate, and prosecute criminal offending, even when it happens online.”

The Bill contains provisions to ensure our domestic laws meet the requirements of the Convention. These include;
- New ‘preservation directions’ in the Search and Surveillance Act, to enable law enforcement agencies to require companies to preserve records that could be evidence of offending.
- Amendments to the Mutual Assistance in Criminal Matters Act to enhance our ability to seek assistance from foreign countries for criminal investigations, and to provide assistance in return.
Minor amendments to the Crimes Act to ensure offences related to cybercrime and the use of computers are comprehensive and fully align with the Convention.

MIL OSI New Zealand News –
July 24, 2025
MIL-OSI Asia-Pac: HK fencer bags gold medal

Source: Hong Kong Information Services

Secretary for Culture, Sports & Tourism Rosanna Law today congratulated Hong Kong’s Ryan Choi on winning a gold medal in the Men’s Foil Individual event at the 2025 Fencing World Championships.

Miss Law lauded the 27-year-old foil fencer for delivering an impressive performance in the competition, demonstrating Hong Kong athletes’ charm and perseverance.

“We are thrilled by his achievement in winning Hong Kong’s first ever gold medal in the Fencing World Championships.

“I hope the Hong Kong China fencing team will continue to strive for excellence. I have faith in them to perform spectacularly again in the 15th National Games to be held in November.”

MIL OSI Asia Pacific News –

July 24, 2025
MIL-Evening Report: Australia says US beef will soon be welcome here again. It’s unlikely we’ll buy much of it

Source: The Conversation (Au and NZ) – By Felicity Deane, Professor of Trade Law and Taxation, Queensland University of Technology

DarcyMaulsby/Getty

The Albanese government has today confirmed it will lift biosecurity restrictions on beef imports from the United States. The timing of this decision has raised some eyebrows.

Back in April, US President Donald Trump had singled out what he characterised as an Australian “ban” on US beef as he announced 10% baseline tariffs on imports from Australia.

Responding to today’s announcement, Nationals leader David Littleproud said it appeared the restrictions have been “traded away to appease Donald Trump”.

But Trade Minister Don Farrell said there was “nothing suspicious about this”. And some Australian industry groups have since expressed their confidence in the decision.

So, has Australia’s beef industry been sold out for the benefit of a trade deal? Or is it just a poorly timed announcement at the end of a review into Australia’s restrictions?

Biosecurity concerns

Australia’s biosecurity rules, particularly around beef products, have long been a source of friction with the United States. These rules date back to the late 1990s and were strengthened following a US mad cow disease scare in 2003.

In 2019, a ban was lifted on beef products from cattle that had been born, raised and slaughtered in the US. However, a ban remained on any products from cattle originating in Mexico or Canada that had been slaughtered in the US.

This was a cause for some tension, because the traceability requirements in the US were not as stringent as in Australia. That meant it wasn’t always possible to determine the origins of US products. So the 2019 change effectively only applied to shelf-stable products – not fresh meat.

Last month, the Albanese government made assurances Australia’s biosecurity rules wouldn’t be compromised in trade negotiations. But it also confirmed a review of the rules was underway.

The National Farmers’ Federation acknowledged the government’s decision in a statement today:

The report released today is the result of a long-standing, science-based review by the Australian Government into the biosecurity risks posed by cattle raised in Canada and Mexico, but processed in and exported from the US.

Speaking on ABC Radio, Cattle Australia chief executive Will Evans acknowledged “a lot of people” may feel “blindsided” by the government’s decision, but expressed his confidence in the government’s process.

Boom times for Australian beef

Australians are some of the highest per-capita consumers of beef products in the world. But Australia is also the world’s second-largest beef exporter, trailing only Brazil.

In contrast, the US is the world’s second-largest importer of beef, behind only China.

That poses the question: how much do we actually need beef from the US? Is it even worth lifting this ban, if it will impact so few people?

The beef industry might be fair to question whether this is for the benefit of their industry, when it seems the existing 10% baseline tariffs have had no impact on the volumes of beef being exported from Australia. Quite the opposite.

In June, Australia’s beef exports broke an all-time monthly record, and the US continued to be our largest export market.

In addition, it is important to recognise the US tariffs on beef would theoretically be absorbed by the consumer, rather than the exporter.

The trade war rages on

Theory suggests that international trade is a good thing (though not everyone is a “winner”). Where there is trade between nations, competitive pricing is encouraged and consumers may enjoy more product variety.

Most restrictions on trade are viewed unfavourably by economists, but there are some notable exceptions. The health and safety of food products and assurance of biosecurity standards are such concerns.

Overnight, comments from the Trump administration suggest the 10% tariffs on imports from Australia could be raised, with a new baseline tariff rate of 15%.

To apply these to Australian beef is in direct conflict with the Australia and United States Free Trade Agreement (AUSFTA). This agreement progressively removed tariffs on Australian beef, with all tariffs eliminated by 2023.

Consequently, any new US tariff would violate these terms, threatening a trade relationship that has seen beef exports to the US flourish.

Is our reputation on the line?

It is important to note that the biosecurity rules in Australia and the traceability requirements for our producers are a point of national pride.

Central to Australia’s biosecurity framework is the Biosecurity Act 2015 and the National Livestock Identification System, which ensures traceability, food safety, disease control and animal welfare.

This imposes strict requirements on Australian beef producers – and as a result, imposes costs. It also means Australian beef is considered a premium product in much of the world.

Australians should hope the evidence from the government’s review fully supports this action.

Given the unpredictability of the Trump administration, it remains to be seen whether lifting these restrictions will win Australia any concessions on trade anyway.

Felicity Deane 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. Australia says US beef will soon be welcome here again. It’s unlikely we’ll buy much of it – https://theconversation.com/australia-says-us-beef-will-soon-be-welcome-here-again-its-unlikely-well-buy-much-of-it-261836

MIL OSI Analysis – EveningReport.nz –

July 24, 2025
MIL-OSI USA: Cassidy Secures $49 Million for Louisiana in FY 2026 Appropriations

US Senate News:

Source: United States Senator for Louisiana Bill Cassidy

WASHINGTON – U.S. Senator Bill Cassidy, M.D. (R-LA) announced that he successfully secured $49,102,00.00 in Congressionally Directed Spending (CDS) in the first Fiscal Year (FY) 2026 Appropriations bills advanced by the U.S. Senate Appropriations Committee. These projects will support critical Louisiana priorities, from military construction and public safety to university research.
“Whether it’s almost $1.4 million for Jefferson Parish to support criminal investigations, $500 thousand to the Northshore to address substance abuse and mental health issues, or multiple grants across the state to support first responders, this money works for the safety, security, and economic growth of Louisiana,” said Dr. Cassidy. Since taking office, Cassidy has emerged as one of the most effective U.S. Senators at directing federal dollars home to Louisiana, despite not serving on the Appropriations Committee. In FY2024, Roll Call reported that Cassidy was one of the top 20 senators in total funding secured for his state, and one of only five in that group who does not sit on the Appropriations Committee. That year, he secured a record $1.3 billion for Louisiana—the highest of any member of the state’s congressional delegation.
See below for a list of the funding secured by Senator Cassidy.

Funding Amount
Recipient
Project Description

$30,000,000.00
Fort Polk
This funding will support construction of the Rotational Unit Billeting Area, Phase 1.

$5,000,000.00
University of Louisiana at Lafayette
This funding will support purchase of equipment for the Silicon Bayou Semiconductor Technology Center.

$4,000,000.00
St. Bernard Parish
This funding will support construction of a new fire station.

$2,500,000.00
Louisiana State University
This funding will support LSU’s Electronic Microscopy Sight Initiative.

$1,500,000.00
City of Ruston Police Department
This funding will support development of a Real Time Intelligence Crime Center.

$1,395,000.00
Jefferson Parish Coroner’s Office
This funding will support purchase of advanced forensic equipment.

$1,350,000.00
University of New Orleans
This funding will support instrumentation upgrades in computing and chemical sciences.

$1,250,000.00
East Baton Rouge DA’s Office
This funding will support the Gun Intelligence Center Program.

$794,000.00
West Monroe Police Department
This funding will support purchase of safety equipment for officers.

$500,000.00
22nd Judicial District Court
This funding will support specialty courts for mental health and substance abuse treatment.

$300,000.00
Grant Parish Sheriff’s Office
This funding will support upgrades to local law enforcement services.

$263,000.00
Town of Farmerville
This funding will support renovations to the fire department.

$250,000.00
Tensas Parish Police Jury
This funding will support security equipment upgrades.

MIL OSI USA News –

July 24, 2025
MIL-OSI New Zealand: Deputy Commissioner of Police retires

Source: New Zealand Government

Police Minister Mark Mitchell today announced the retirement of statutory Deputy Commissioner of Police, Tania Kura.

Ms Kura has served in the statutory Deputy Police Commissioner role since her appointment on 18 April 2023.

Deputy Commissioner Kura notified the Governor-General yesterday of her intention to retire from the role and the New Zealand Police in November this year.

Ms Kura has served in the police for 37 years, graduating from the Royal New Zealand Police College in 1988. She started her career as a constable in Christchurch before working her way through the ranks to be Area Commander Hawkes Bay in 2012 and District Commander Eastern from 2017. She moved to Wellington in 2020 to be based at Police National Headquarters, taking up the role of Deputy Commissioner Leadership and Capability.

“I wish to acknowledge Deputy Commissioner Kura for her service, and I wish her and her family the best for the future,” Mr Mitchell says.

Statutory Deputy Commissioners of Police are appointed by the Governor-General on the recommendation of the Prime Minister. The Public Service Commission has started a recruitment process for both Deputy Commissioner positions

MIL OSI New Zealand News –

July 24, 2025
MIL-OSI Security: Muscatine Men Sentenced to Federal Prison Related to Events Surrounding Officer Involved Shooting

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

DAVENPORT, Iowa – Two Muscatine men were sentenced on July 22, 2025, to federal prison for drug and gun crimes, related to an officer involved shooting in Muscatine on May 29, 2024.

According to public court documents and evidence presented at sentencing, on May 29, 2024, Juan Aldo Beltran Delgado, 34, and Isidro Barajas, Jr., 30, drove to a residence in Muscatine, Iowa, to await the delivery of a package they expected to contain more than 4.5 pounds of methamphetamine. Law enforcement observed Beltran Delgado and Barajas pick up the package from the residence and attempted to stop their vehicle. Beltran Delgado was driving the vehicle and drove over 100 miles per hour through Muscatine, drove through multiple red lights, attempting to evade law enforcement. Ultimately, Beltran Delgado crashed into two other vehicles near Highway 61 and Cedar Street. After crashing, both Beltran Delgado and Barajas fled from the car on foot carrying firearms. Officers arrived in the area and Beltran Delgado shot at officers. Officers were able to take both Beltran and Delgado and Barajas into custody.

Beltran Delgado was sentenced to 35 years in federal prison, followed by a five-year term of supervised release, following his plea to conspiracy to possess with intent to distribute methamphetamine, attempted possession with intent to distribute methamphetamine, and carrying and discharging a firearm during an in relation to his drug trafficking. Barajas was sentenced to 32 years in federal prison, followed by a ten-year term of supervised release, following his plea to conspiracy to possess with intent to distribute methamphetamine, attempted possession with intent to distribute methamphetamine, carrying and displaying a firearm during an in relation to his drug trafficking, and being a felon in possession of a firearm. There is no parole in the federal system.

United States Attorney Richard D. Westphal of the Southern District of Iowa made the announcement. This case was investigated by the Muscatine County Sheriff’s Office, Iowa Department of Public Safety, Iowa Division of Criminal Investigations, Scott County Sheriff’s Office, Muscatine Police Department, Cedar County Sheriff’s Office, Muscatine County Drug Task Force, Johnson County Drug Taskforce, and the Bureau of Alcohol, Tobacco, Firearms, and Explosives.

This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results. For more information about Project Safe Neighborhoods, please visit Justice.gov/PSN.

MIL Security OSI –

July 24, 2025
MIL-OSI Security: TALLAHASSEE MAN RECEIVES 42 MONTHS FOR POSSESSION OF A MACHINEGUN

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

TALLAHASSEE, FLORIDA – Artaviyon Cornel Williams, 24, of Tallahassee, Florida, was sentenced in federal court for illegal possession of a machinegun. The sentence was announced by John P. Heekin, United States Attorney for the Northern District of Florida.

U.S. Attorney Heekin said: “Our brave law enforcement officers are increasingly encountering violent criminals and seizing firearms that have been illegally modified to fire as fully automatic machineguns. My office is committed to staunchly supporting law enforcement efforts to keep our communities safe from violent criminals.”

Court documents reflect that law enforcement obtained an arrest warrant for Williams for an aggravated assault that had occurred on June 28, 2024, outside the Table Lounge in Tallahassee. Witnesses advised Williams broke up a fight involving his girlfriend by brandishing a firearm, firing a round into the air, and pointing the firearm at one woman and telling her “I’ll kill you.” Officers located Williams on July 6, 2024, outside the Table Lounge and arrested him on the outstanding warrant. When arrested, Williams had a stolen Glock pistol in his waistband which had been illegally modified to fire as a machinegun. Williams had a second, loaded, extended-round magazine in a pocket.

Williams received a sentence of 42 months in prison, which will be followed by three years of supervised release.

“The Tallahassee Police Department remains committed to removing illegal firearms from our streets,” said Tallahassee Police Chief Lawrence Revell. “Modifying a weapon to function as a machine gun is not only illegal, but also reckless and puts innocent lives at risk. We’re proud to work alongside our federal partners to ensure those who engage in this kind of violent behavior are held accountable.”

The case involved an investigation by the Tallahassee Police Department and the Bureau of Alcohol, Tobacco, Firearms, and Explosives. Assistant United States Attorney James A. McCain prosecuted the case.

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

As part of its PSN strategy, the United States Attorney’s Office is encouraging everyone to lock their car doors, particularly at night. Burglaries from unlocked automobiles are a significant source of guns for criminals in the Northern District of Florida. Please do your part and protect yourself by locking your car doors.

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

MIL Security OSI –

July 24, 2025
MIL-OSI Russia: Ukraine has returned more than a thousand servicemen from Russian captivity

Translation. Region: Russian Federal

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

An important disclaimer is at the bottom of this article.

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

KYIV, July 24 /Xinhua/ — Ukraine has secured the release of more than a thousand servicemen as part of the agreements reached at peace talks in Istanbul, Turkey, the Ukrainian Coordination Headquarters for the Treatment of Prisoners of War reported on Telegram on Wednesday.

In total, Ukraine and Russia have conducted nine stages of prisoner exchanges under the Istanbul agreements. During the latest exchange, wounded and seriously ill servicemen were released.

Among those released are reportedly representatives of the Armed Forces of Ukraine, the State Border Service, the National Guard and the National Police. –0–

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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MIL OSI Russia News –

July 24, 2025

Category: Justice

Public discussion

Summary table of proposals and comments on the draft Bank of Russia instruction “On Amendments to Bank of Russia Instruction dated April 10, 2023 No. 6406-U”

Draft Bank of Russia instruction “On the procedure for notification by a bank (other credit institution) of the opening or closing of an account, of a change in account details, of a change in account details in electronic form to the territorial body of the insurer”

Draft Bank of Russia Instruction “On Amending Bank of Russia Instruction No. 3701-U of June 29, 2015 “On the Procedure for Sending Requests and Receiving Information from the Central Catalog of Credit Histories by Submitting a Request through a Notary”

Draft Bank of Russia Instruction “On Amendments to Bank of Russia Instruction No. 135-I of April 2, 2010”

Draft Bank of Russia Instruction “On the cases and procedure for partial redemption of investment units of a closed-end mutual investment fund without the owner of the investment units submitting a request for their redemption”

Draft Bank of Russia Instruction “On Amendments to Bank of Russia Instruction No. 6568-U dated October 6, 2023”

Summary table of comments and suggestions on the draft Bank of Russia instruction “On Amendments to Bank of Russia Instruction dated September 18, 2017 No. 4533-U”

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Could this lead to greater climate action?

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