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  • MIL-OSI Analysis: Uranium enrichment: A chemist explains how the surprisingly common element is processed to power reactors and weapons

    Source: The Conversation – USA – By André O. Hudson, Dean of the College of Science, Professor of Biochemistry, Rochester Institute of Technology

    Yellowcake is a concentrated form of mined and processed uranium. Nuclear Regulatory Commission, CC BY

    When most people hear the word uranium, they think of mushroom clouds, Cold War standoffs or the glowing green rods from science fiction. But uranium isn’t just fuel for apocalyptic fears. It’s also a surprisingly common element that plays a crucial role in modern energy, medicine and geopolitics.

    Uranium reentered the global spotlight in June 2025, when the U.S. launched military strikes on sites in Iran believed to be housing highly enriched uranium, a move that reignited urgent conversations around nuclear proliferation. Many headlines have mentioned Iran’s 60% enrichment of uranium, but what does that really mean?

    As a biochemist, I’m interested in demystifying this often misunderstood element.

    What is uranium?

    Uranium holds the 92nd position on the periodic table, and it is a radioactive, metallic element. Radioactivity is a natural process where some atoms – like uranium, thorium and radium – break down on their own, releasing energy.

    The German chemist Martin Heinrich Klaproth initially identified uranium in 1789, and he named it after the newly discovered planet Uranus. However, its power was not unlocked until the 20th century, when scientists discovered that uranium atoms could split via a process known as nuclear fission. In fission, the nucleus of the atom splits into two or more nuclei, which releases large amounts of energy.

    Uranium is found almost everywhere. It is in rocks, soil and water. There are even traces of uranium in plants and animals – albeit tiny amounts. Most of it is found in the Earth’s crust, where it is mined and concentrated to increase the amount of its most useful radioactive form, uranium-235.

    The enrichment dilemma

    Uranium-235 is an isotope of uranium, which is a version of an element that has the same basic identity but weighs a little more or less. Think about apples from the same tree. Some are big and some are small, but they are all apples – even though they have slightly different weights. Basically, an isotope is the same element but with a different mass.

    Unprocessed uranium is mostly uranium-238. It only contains approximately 0.7% uranium-235, the isotope that allows the most nuclear fission to occur. So, the enrichment process concentrates uranium-235.

    Enrichment can make uranium more useful for the development of nuclear weapons, since natural uranium doesn’t have enough uranium-235 to work well in reactors or weapons. The process usually contains three steps.

    Centrifuges spin the uranium to separate out its isotopes.

    The first step is to convert the uranium into a gas, called uranium hexafluoride. In the second step, the gas gets funneled into a machine called a centrifuge that spins very fast. Because uranium-235 is a little lighter than uranium-238, it moves outward more slowly when spun, and the two isotopes separate.

    It’s sort of like how a salad spinner separates water from lettuce. One spin doesn’t make much of a difference, so the gas is spun through many centrifuges in a row until the uranium-235 is concentrated.

    Uranium can typically power nuclear plants and generate electricity when it is 3%-5% enriched, meaning 3%-5% of the uranium is uranium-235. At 20% enriched, uranium-235 is considered highly enriched uranium, and 90% or higher is known as weapons-grade uranium.

    The enrichment level depends on the proportion of uranium-235 to uranium-238.
    Wikimedia Commons

    This high grade works in nuclear weapons because it can sustain a fast, uncontrolled chain reaction, which releases a large amount of energy compared with the other isotopes.

    Uranium’s varied powers

    While many headlines focus on uranium’s military potential, this element also plays a vital role in modern life. At low enrichment levels, uranium powers nearly 10% of the world’s electricity.

    In the U.S., many nuclear power plants run on uranium fuel, producing carbon-free energy. In addition, some cancer therapies and diagnostic imaging technologies harness uranium to treat diseases.

    Enriched uranium is used for nuclear power.
    Raimond Spekking/Wikimedia Commons, CC BY-SA

    In naval technology, nuclear-powered submarines and aircraft carriers rely on enriched uranium to operate silently and efficiently for years.

    Uranium is a story of duality. It is a mineral pulled from ancient rocks that can light up a city or wipe one off the map. It’s not just a relic of the Cold War or science fiction. It’s real, it’s powerful, and it’s shaping our world – from global conflicts to cancer clinics, from the energy grid to international diplomacy.

    In the end, the real power is not just in the energy released from the element. It is in how people choose to use it.

    André O. Hudson receives funding from the National Institutes of Health.

    – ref. Uranium enrichment: A chemist explains how the surprisingly common element is processed to power reactors and weapons – https://theconversation.com/uranium-enrichment-a-chemist-explains-how-the-surprisingly-common-element-is-processed-to-power-reactors-and-weapons-259646

    MIL OSI Analysis –

  • MIL-OSI Analysis: Israel bombed an Iraqi nuclear reactor in 1981 − it pushed program underground and spurred Saddam Hussein’s desire for nukes

    Source: The Conversation – Global Perspectives – By Jeffrey Fields, Professor of the Practice of International Relations, USC Dornsife College of Letters, Arts and Sciences

    The Osirak nuclear power research station in 1981. Jacques Pavlovsky/Sygma via Getty Images

    Israel, with the assistance of U.S. military hardware, bombs an adversary’s nuclear facility to set back the perceived pursuit of the ultimate weapon. We have been here before, about 44 years ago.

    In 1981, Israeli fighter jets supplied by Washington attacked an Iraqi nuclear research reactor being built near Baghdad by the French government.

    The reactor, which the French called Osirak and Iraqis called Tammuz, was destroyed. Much of the international community initially condemned the attack. But Israel claimed the raid set Iraqi nuclear ambitions back at least a decade. In time, many Western observers and government officials, too, chalked up the attack as a win for nonproliferation, hailing the strike as an audacious but necessary step to prevent Iraqi dictator Saddam Hussein from building a nuclear arsenal.

    But the reality is more complicated. As nuclear proliferation experts assess the extent of damage to Iran’s nuclear facilities following the recent U.S. and Israeli raids, it is worth reassessing the longer-term implications of that earlier Iraqi strike.

    The Osirak reactor

    Iraq joined the landmark Nuclear Non-Proliferation Treaty in 1970, committing the country to refrain from the pursuit of nuclear weapons. But in exchange, signatories are entitled to engage in civilian nuclear activities, including having research or power reactors and access to the enriched uranium that drives them.

    The International Atomic Energy Agency is responsible through safeguards agreements for monitoring countries’ civilian use of nuclear technology, with on-the-ground inspections to ensure that civilian nuclear programs do not divert materials for nuclear weapons.

    But to Israel, the Iraqi reactor was provocative and an escalation in the Arab-Israeli conflict.

    Israel believed that Iraq would use the French reactor – Iraq said it was for research purposes – to generate plutonium for a nuclear weapon. After diplomacy with France and the United States failed to persuade the two countries to halt construction of the reactor, Prime Minister Menachem Begin concluded that attacking the reactor was Israel’s best option. That decision gave birth to the “Begin Doctrine,” which has committing Israel to preventing its regional adversaries from becoming nuclear powers ever since.

    Israeli Prime Minister Menachem Begin addresses the press after the 1981 attack on the Osarik nuclear reactor.
    Israel Press and Photo Agency/Wikimedia Commons

    In spring 1979, Israel attempted to sabotage the project, bombing the reactor core destined for Iraq while it sat awaiting shipment in the French town of La Seyne-sur-Mer. The mission was only a partial success, damaging but not destroying the reactor.

    France and Iraq persisted with the project, and in July 1980 – with the reactor having been delivered – Iraq received the first shipment of highly enriched uranium fuel at the Tuwaitha Nuclear Research Center near Baghdad.

    Then in September 1980, during the initial days of the Iran-Iraq war, Iranian jets struck the nuclear research center. The raid also targeted a power station, knocking out electricity in Baghdad for several days. But a Central Intelligence Agency situation report assessed that “only secondary buildings” were hit at the nuclear site itself.

    It was then Israel’s turn. The reactor was still unfinished and not in operation when on June 7, 1981, eight U.S.-supplied F-16s flew over Jordanian and Saudi airspace and bombed the reactor in Iraq. The attack killed 10 Iraqi soldiers and a French civilian.

    Revisiting the ‘success’ of Israeli raid

    Many years later, U.S. President Bill Clinton commented: “Everybody talks about what the Israelis did at Osirak in 1981, which I think, in retrospect, was a really good thing. You know, it kept Saddam from developing nuclear power.”

    But nonproliferation experts have contended for years that while Saddam may have had nuclear weapons ambitions, the French-built research reactor would not have been the route to go. Iraq would either have had to divert the reactor’s highly enriched uranium fuel for a few weapons or shut the reactor down to extract plutonium from the fuel rods – all while hiding these operations from the International Atomic Energy Agency.

    As an additional safeguard, the French government, too, had pledged to shut down the reactor if it detected efforts to use the reactor for weapons purposes.

    In any event, Iraq’s desire for a nuclear weapon was more aspirational than operational. A 2011 article in the journal International Security included interviews with several scientists who worked on Iraq’s nuclear program and characterized the country’s pursuit of a nuclear weapons capability as “both directionless and disorganized” before the attack.

    Iraq’s program begins in earnest

    So what happened after the strike? Many analysts have argued that the Israeli attack, rather than diminish Iraqi desire for a nuclear weapon, actually catalyzed it.

    Nuclear proliferation expert Målfrid Braut-Hegghammer, the author of the 2011 study, concluded that the Israeli attack “triggered a nuclear weapons program where one did not previously exist.”

    In the aftermath of the attack, Saddam decided to formally, if secretively, establish a nuclear weapons program, with scientists deciding that a uranium-based weapon was the best route. He tasked his scientists with pursuing multiple methods to enrich uranium to weapons grade to ensure success, much the way the Manhattan Project scientists approached the same problem in the U.S.

    In other words, the Israeli attack, rather than set back an existing nuclear weapons program, turned an incoherent and exploratory nuclear endeavor into a drive to get the bomb personally overseen by Saddam and sparing little expense even as Iraq’s war with Iran substantially taxed Iraqi resources.

    From 1981 to 1987, the nuclear program progressed fitfully, facing both organizational and scientific challenges.

    As those challenges were beginning to be addressed, Iraq invaded Kuwait in 1990, provoking a military response from the United States. In the aftermath of what would become Operation Desert Storm, U.N. weapons inspectors discovered and dismantled the clandestine Iraqi nuclear weapons program.

    The Tammuz nuclear reactor was hit again during the 1991 Gulf War.
    Ramzi Haidar/AFP via Getty Images

    Had Saddam not invaded Kuwait over a matter not related to security, it is very possible that Baghdad would have had a nuclear weapon capability by the mid-to-late 1990s.

    Similarly to Iraq in 1980, Iran today is a party to the Nuclear Non-Proliferation Treaty. At the time President Donald Trump withdrew U.S. support in 2018 for the Joint Comprehensive Plan of Action, colloquially known as the Iran nuclear deal, the International Atomic Energy Agency certified that Tehran was complying with the requirements of the agreement.

    In the case of Iraq, military action on its nascent nuclear program merely pushed it underground – to Saddam, the Israeli strikes made acquiring the ultimate weapon more rather than less attractive as a deterrent. Almost a half-century on, some analysts and observers are warning the same about Iran.

    Jeffrey Fields receives funding from the Carnegie Corporation of New York and Schmidt Futures.

    – ref. Israel bombed an Iraqi nuclear reactor in 1981 − it pushed program underground and spurred Saddam Hussein’s desire for nukes – https://theconversation.com/israel-bombed-an-iraqi-nuclear-reactor-in-1981-it-pushed-program-underground-and-spurred-saddam-husseins-desire-for-nukes-259618

    MIL OSI Analysis –

  • MIL-OSI Analysis: Japanese prime minister’s abrupt no-show at NATO summit reveals a strained alliance with the US

    Source: The Conversation – Global Perspectives – By Craig Mark, Adjunct Lecturer, Faculty of Economics, Hosei University

    Japanese Prime Minister Shigeru Ishiba has sent a clear signal to the Trump administration: the Japan–US relationship is in a dire state.

    After saying just days ago he would be attending this week’s NATO summit at The Hague, Ishiba abruptly pulled out at the last minute.

    He joins two other leaders from the Indo-Pacific region, Australian Prime Minister Anthony Albanese and South Korean President Lee Jae-myung, in skipping the summit.

    The Japanese media reported Ishiba cancelled the trip because a bilateral meeting with US President Donald Trump was unlikely, as was a meeting of the Indo-Pacific Four (IP4) NATO partners (Australia, New Zealand, South Korea and Japan).

    Japan will still be represented by Foreign Minister Takeshi Iwaya, showing its desire to strengthen its security relationship with NATO.

    However, Ishiba’s no-show reveals how Japan views its relationship with the Trump administration, following the severe tariffs Washington imposed on Japan and Trump’s mixed messages on the countries’ decades-long military alliance.

    Tariffs and diplomatic disagreements

    Trump’s tariff policy is at the core of the divide between the US and Japan.

    Ishiba attempted to get relations with the Trump administration off to a good start. He was the second world leader to visit Trump at the White House, after Israeli Prime Minister Benjamin Netanyahu.

    However, Trump’s “Liberation Day” tariffs imposed a punitive rate of 25% on Japanese cars and 24% on all other Japanese imports. They are already having an adverse impact on Japan’s economy: exports of automobiles to the US dropped in May by 25% compared to a year ago.

    Six rounds of negotiations have made little progress, as Ishiba’s government insists on full tariff exemptions.

    Japan has been under pressure from the Trump administration to increase its defence spending, as well. According to the Financial Times, Tokyo cancelled a summit between US and Japanese defence and foreign ministers over the demand. (A Japanese official denied the report.)

    Japan also did not offer its full support to the US bombings of Iran’s nuclear facilities earlier this week. The foreign minister instead said Japan “understands” the US’s determination to prevent Iran from acquiring nuclear weapons.

    Japan has traditionally had fairly good relations with Iran, often acting as an indirect bridge with the West. Former Prime Minister Shinzo Abe even made a visit there in 2019.

    Japan also remains heavily dependent on oil from the Middle East. It would have been adversely affected if the Strait of Hormuz had been blocked, as Iran was threatening to do.

    Unlike the response from the UK and Australia, which both supported the strikes, the Ishiba government prioritised its commitment to upholding international law and the rules-based global order. In doing so, Japan seeks to deny China, Russia and North Korea any leeway to similarly erode global norms on the use of force and territorial aggression.

    Strategic dilemma of the Japan–US military alliance

    In addition, Japan is facing the same dilemma as other American allies – how to manage relations with the “America first” Trump administration, which has made the US an unreliable ally.

    Earlier this year, Trump criticised the decades-old security alliance between the US and Japan, calling it “one-sided”.

    “If we’re ever attacked, they don’t have to do a thing to protect us,” he said of Japan.

    Lower-level security cooperation is ongoing between the two allies and their regional partners. The US, Japanese and Philippine Coast Guards conducted drills in Japanese waters this week. The US military may also assist with upgrading Japan’s counterstrike missile capabilities.

    But Japan is still likely to continue expanding its security ties with partners beyond the US, such as NATO, the European Union, India, the Philippines, Vietnam and other ASEAN members, while maintaining its fragile rapprochement with South Korea.

    Australia is now arguably Japan’s most reliable security partner. Canberra is considering buying Japan’s Mogami-class frigates for the Royal Australian Navy. And if the AUKUS agreement with the US and UK collapses, Japanese submarines could be a replacement.

    Ishiba under domestic political pressure

    There are also intensifying domestic political pressures on Ishiba to hold firm against Trump, who is deeply unpopular among the Japanese public.

    After replacing former prime minister Fumio Kishida as leader of the Liberal Democratic Party (LDP) last September, the party lost its majority in the lower house of parliament in snap elections. This made it dependent on minor parties for legislative support.

    Ishiba’s minority government has struggled ever since with poor opinion polling. There has been widespread discontent with inflation, the high cost of living and stagnant wages, the legacy of LDP political scandals, and ever-worsening geopolitical uncertainty.

    On Sunday, the party suffered its worst-ever result in elections for the Tokyo Metropolitan Assembly, winning its lowest number of seats.

    The party could face a similar drubbing in the election for half of the upper house of the Diet (Japan’s parliament) on July 20. Ishiba has pledged to maintain the LDP’s majority in the house with its junior coalition partner Komeito. But if the government falls into minority status in both houses, Ishiba will face heavy pressure to step down.

    Craig Mark 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. Japanese prime minister’s abrupt no-show at NATO summit reveals a strained alliance with the US – https://theconversation.com/japanese-prime-ministers-abrupt-no-show-at-nato-summit-reveals-a-strained-alliance-with-the-us-259694

    MIL OSI Analysis –

  • MIL-OSI Analysis: Oil shocks in the 1970s drove rapid changes in transport. It could happen again if Middle East tensions continue

    Source: The Conversation – Global Perspectives – By Hussein Dia, Professor of Future Urban Mobility, Swinburne University of Technology

    The Image Bank/Getty

    As the world watches the US–Iran situation with concern, the ripple effect from these events are reaching global oil supply chains – and exposing their fragility.

    If Iran closes the Strait of Hormuz as it is considering, it would restrict the global oil trade and trigger energy chaos.

    Petrol in some Australian cities could hit A$2.50 a litre according to some economists. As global instability worsens, other experts warn price spikes are increasingly likely.

    What would happen next? There is a precedent: the oil shocks of the 1970s, when oil prices quadrupled. The shock drove rapid change, from more efficient cars to sudden interest in alternative energy sources. This time, motorists would likely switch to electric vehicles.

    If this crisis continues or if another one flares up, it could mark a turning point in Australia’s long dependence on foreign oil.

    What would an oil shock mean?

    Australia currently imports 80% of its liquid fuels, the highest level on record. If the flow of oil stopped, we would have about 50 days worth in storage before we ran out.

    Our cars, buses, trucks and planes run overwhelmingly on petrol and diesel. Almost three-quarters (74%) of these liquid fuels are used in transport, with road transport accounting for more than half (54%) of all liquid fuels. Australia is highly exposed to global supply shocks.

    The best available option to reduce dependence on oil imports is to electrify transport.

    How does Australia compare on EVs?

    EV uptake in Australia continues to lag behind global leaders. In 2024, EVs accounted for 9.65% of new car sales in Australia, up from 8.45% in 2023.

    In the first quarter of 2025, EVs were 6.3% of new car sales, a decline from 7.4% in the final quarter of 2024.

    Norway remains the global leader, with battery-electric passenger cars making up 88.9% of sales in 2024. The United Kingdom also saw significant growth – EVs hit almost 20% of new car registrations in 2024.

    In China, EVs made up 40.9% of new car sales in 2024. The 12.87 million cars sold represent three-quarters of total EV sales worldwide.

    One reason for Australia’s sluggishness is a lack of reliable public chargers. While charging infrastructure is expanding, large parts of regional Australia still lack reliable access to EV charging.

    Until recently, Australia’s fuel efficiency standards were among the weakest in the OECD. Earlier this year, the government’s new standards came into force. These are expected to boost EV uptake.

    Could global tensions trigger faster action?

    If history is any guide, oil shocks lead to long-term change.

    The 1970s oil shocks triggered waves of energy reform.

    When global oil prices quadrupled in 1973–74, many nations were forced to reconsider where they got their energy. A few years later, the 1979 Iranian Revolution caused another major supply disruption, sending oil prices soaring and pushing much of the world into recession.

    Huge increases in oil prices drove people to look for alternatives during the 1970s oil shocks.
    Everett Collection/Shutterstock

    These shocks drove the formation of the International Energy Agency in 1974, spurred alternative energy investment and led to advances in fuel-efficiency standards.

    Much more recently, Russia’s invasion of Ukraine pushed the European Union to face up to its reliance on Russian gas and find alternatives by importing gas from different countries and accelerating the clean energy shift.

    Clearly, energy shocks can be catalysts for long-term structural change in how we produce and consume energy.

    The new crisis could do the same, but only if policy catches up.

    If fuel prices shot up and stayed there, consumer behaviour would begin to shift. People would drive less and seek alternate forms of transport. Over time, more would look for better ways to get around.

    But without stronger support such as incentives, infrastructure and fuel security planning, shifting consumer preferences could be too slow to matter.

    A clean-energy future is more secure

    Cutting oil dependency through electrification isn’t just good for the climate. It’s also a hedge against future price shocks and supply disruptions.

    Transport is now Australia’s third-largest source of greenhouse gas emissions. Now that emissions are falling in the electricity sector, transport will be the highest emitting sector emissions source as soon as 2030.

    Building a cleaner transport system also means building a more resilient one. Charging EVs on locally produced renewable power cuts our exposure to global oil markets. So do biofuels, better public transport and smarter urban planning.

    Improving domestic energy resilience isn’t just about climate targets. It’s about economic stability and national security. Clean local energy sources reduce vulnerability to events beyond our control.

    What can we learn from China?

    China offers a compelling case study. The nation of 1.4 billion faces real oil security challenges. In response, Beijing has spent the past decade building a domestic clean energy ecosystem to reduce oil dependency and cut emissions.

    This is now bearing fruit. Last year, China’s oil imports had the first sustained fall in nearly two decades. Crude oil imports fell 1.5%, while oil refinery activity also fell due to lower demand.

    China’s rapid uptake of EVs has clear energy security benefits.
    pim pic/Shutterstock

    China’s green energy transition was driven by coordinated policy, industrial investment and public support for clean transport.

    China’s rapid shift to EVs and clean energy shows how long-term planning and targeted investment can pay off on climate and energy security.

    What we do next matters

    The rolling crises of 2025 present Australian policymakers a rare alignment of interests. What’s good for the climate, for consumers and for national security may now be the same thing.

    Real change will require more than sustained high petrol prices. It demands political will, targeted investment and a long-term vision for clean, resilient transport.

    Doing nothing has a real cost – not just in what we pay at the service station, but in how vulnerable we remain to events a long way away.

    Hussein Dia receives funding from the Australian Research Council, the iMOVE Australia Cooperative Research Centre, Transport for New South Wales, Queensland Department of Transport and Main Roads, Victorian Department of Transport and Planning, and Department of Infrastructure, Transport, Regional Development, Communications and the Arts.

    – ref. Oil shocks in the 1970s drove rapid changes in transport. It could happen again if Middle East tensions continue – https://theconversation.com/oil-shocks-in-the-1970s-drove-rapid-changes-in-transport-it-could-happen-again-if-middle-east-tensions-continue-259670

    MIL OSI Analysis –

  • MIL-OSI Video: 80th anniversary of the signing of the UN Charter – Commemoration at the General Assembly

    Source: United Nations (video statements)

    A commemorative plenary meeting to celebrate the 80th anniversary of the signing of the UN Charter, emphasizing its foundational importance to achieving peace, development and human rights for “we the peoples”.

    Opening Segment 
    Musical Performance  
    Plenary

    The President of the 79th session of the UN General Assembly convenes a commemorative plenary meeting to celebrate the 80th anniversary of the signing of the UN Charter, emphasizing its foundational importance to achieving peace, development and human rights for “we the peoples”.

    A meeting of the General Assembly to observe the 80th anniversary of the signing of the UN Charter. The meeting will serve as a moment to revive the spirit of San Francisco and once again embrace the ideals that united humanity during its darkest hour, reaffirming our commitment to those values into the future.

    The commemoration of the 80th anniversary will include an extensive communications campaign that will spotlight the Charter and its signing, as well as highlight milestones and successes of the United Nations and its Member States over the past 80 years. This campaign will also feature video testimonials by world leaders from June to September 2025.

    A High-Level meeting of the General Assembly for Heads of State and Government to mark the 80th anniversary is scheduled for 22 September 2025, during the UNGA High-Level Week.

    https://www.youtube.com/watch?v=tG_zb7CNB6g

    MIL OSI Video –

  • MIL-OSI Asia-Pac: Winnie Ho tours housing project

    Source: Hong Kong Information Services

    Secretary for Housing Winnie Ho attended the Asia-Pacific Network for Housing Research (APNHR) 2025 Conference at Tsinghua University and visited the Qingtangwan public rental housing project in Beijing today.

    The APNHR is an international organisation focusing on housing issues in the Asia-Pacific region. The conference was held at Tsinghua University this year with the theme “Towards Resilience and Inclusivity: Adapting to Multifaceted Challenges in the Asia-Pacific Region”.

    The conference convened experts and scholars in the fields of architecture, urban planning, sociology, environmental studies, and others from the Asia-Pacific region to have in-depth exchanges on the housing development and challenges in the region, and to jointly explore ways to promote innovative housing construction and development directions.

    At the conference’s roundtable session this morning, Ms Ho shared the opportunities and challenges in housing development faced by the Hong Kong Special Administrative Region Government Housing Bureau (HB) and the Hong Kong Housing Authority (HKHA).

    She said that the current-term Hong Kong SAR Government has actively addressed Hong Kong’s housing problems since taking office, overcoming livelihood issues and addressing people’s concerns by identifying sites and enhancing the quantity, speed, efficiency and quality of public housing construction.

    The HB is working full steam ahead on implementing groundbreaking innovative policy initiatives, such as Light Public Housing (LPH) and Basic Housing Units, to tackle the long-standing, big and difficult issue that has plagued Hong Kong for many years and to provide the grassroots with options to improve their living environment and quality of life.

    Ms Ho highlighted that the HB and the HKHA have been making use of various innovative construction technologies, such as Modular Integrated Construction, construction robots and smart project management platforms, to enhance construction efficiency and build LPH expeditiously, so as to improve the living conditions of those who are inadequately housed as soon as possible.

    She also introduced at the conference the “well-being design” guide launched by the HB and the HKHA last year, which serves as a reference for the future design of new public housing and the improvement works of existing public rental housing estates.

    Apart from housing construction, the HKHA has also continued to enhance the management efficiency and service quality of its nearly 200 public rental housing estates by actively promoting smart estate management and introducing new technologies to optimise estate management and building maintenance services, to provide a better living environment for its residents.

    In the afternoon, Ms Ho visited the Qingtangwan public rental housing project in Beijing. This project is a green residential area that adopted the use of prefabricated components and environmental monitoring platforms. It also implements smart community management through community apps.

    Afterwards, Ms Ho met Deputy Director-General of the Bureau of International Cooperation of the State-owned Assets Supervision & Administration Commission of the State Council Xie Hui to exchange views on housing design and planning.

    She also shared the adoption of advanced construction technologies from the Mainland in Hong Kong and the outcomes.

    Yesterday, Ms Ho visited the Better House Living Tech Lab and was briefed on the practice of combining housing design concepts of quality homes and technologies on the Mainland.

    The housing chief will continue her Beijing visit tomorrow before returning to Hong Kong.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Bitget’s Proof of Reserves Highlights 199% Coverage Ratio in June 2025

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, June 26, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has released its June 2025 Proof of Reserves (PoR), revealing a total reserve ratio of 199%, an increase from 192% in May. This continued rise shows the platform’s ability to maintain a reserve well above the industry-standard 1:1 ratio, effectively covering all user-held assets with significant overcollateralization.

    According to the June audit, the platform holds 28,286.53 BTC against 6,593.8 BTC in user liabilities, marking a 429% reserve ratio. For USDT, Bitget maintains 1.75 billion tokens in reserve versus 1.61 billion in user holdings, yielding a coverage of 108%. ETH assets show a similar trend, with 219,917.71 ETH held against 148,754.3 ETH in user accounts, resulting in a 148% ratio. USDC holdings recorded the highest increase, with 138.88 million USDC backing just over 51.44 million in user assets—a, a 270% reserve ratio. These numbers reflect a consistent strengthening in asset management and surplus reserves across the board since last month.

    The reserve data is generated using Merkle tree technology, with the June snapshot reflecting 27 layers and over 40 million individual asset records. This mechanism allows users to independently verify the existence and adequacy of reserves through Bitget’s open-source tool, MerkleValidator, available on GitHub.

    Bitget first implemented the Proof of Reserves mechanism in December 2022. Since then, the platform has maintained monthly updates to ensure full transparency and real-time assurance to its user base. Alongside PoR, Bitget also operates a US$600 million Protection Fund, aimed at enhancing user security by offering a safeguard in the event of extreme market conditions or unforeseen asset risks.

     “Maintaining reserves well above security, it’s about building infrastructure that can withstand volatility and maintain user trust during periods of uncertainty. Security is a design choice, and our reserve model shows a long-term approach to protecting users at all times,” said Gracy Chen, CEO at Bitget.

    With the June update showing stronger reserves across all major assets, Bitget continues to lead among centralized exchanges in publishing independent, verifiable, and surplus-backed Proof of Reserves.

    To check the updated proof-of-reserves, please visit here.

    About Bitget

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

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

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

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

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9e8ef724-3fb7-4e02-8aa4-164d45ac15ad

    The MIL Network –

  • MIL-OSI: Canadian Life Companies Split Corp. Completes Overnight Offering

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 26, 2025 (GLOBE NEWSWIRE) — Canadian Life Companies Split Corp. (“the Company”) is pleased to announce it has completed the overnight offering of Preferred Shares and Class A Shares of the Company. Total gross proceeds of the offering were $40.0 million, bringing the Company’s net assets to approximately $217.9 million.

    The shares will begin trading on the Toronto Stock Exchange under the existing symbols of LFE.PR.B (Preferred Shares) and LFE (Class A Shares).

    The Preferred Shares were offered at a price of $10.55 per Preferred Share to yield 6.64% and the Class A Shares were offered at a price of $6.35 per Class A Share to yield 18.90%.

    The offering was led by National Bank Financial Inc.

    The net proceeds of the offering will be used by the Company to invest in an actively managed portfolio primarily consisting of four publicly traded Canadian life insurance companies as follows: Great‐West Lifeco Inc., Industrial Alliance Insurance & Financial Services Inc., Manulife Financial Corporation and Sun Life Financial Inc.

    Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Investors should read the prospectus supplement to the Company’s short form base shelf prospectus dated May 1, 2024 before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. Please read the Company’s publicly filed documents which are available at www.sedarplus.com.

    Investor Relations: 1-877-478-2372
    Local: 416-304-4443
    www.lifesplit.com
    info@quadravest.com

    The MIL Network –

  • MIL-OSI China: Chinese state councilor stresses bolstering employment, boosting consumption

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

    CHANGSHA, June 26 — Chinese State Councilor Shen Yiqin has called for efforts to stabilize the employment of key groups such as college graduates and further boost culture, tourism and sports-related consumption.

    Shen made the remarks during an inspection tour in central China’s Hunan Province from Monday to Thursday.

    Shen urged placing greater importance on employment, and called for supportive measures to strengthen the job opportunities for key groups including college graduates, migrant workers and those who have shaken off poverty.

    Enterprises should receive more support to aid in the creation of more job opportunities, said Shen, who called for the launch of large-scale vocational training programs in key sectors to improve labor force skills.

    Shen also called for efforts to continue increasing the supply of high-quality products and services, and to accelerate the integration of culture, tourism and sports with science and technology, to better meet people’s growing demand. 

    MIL OSI China News –

  • MIL-OSI China: Documentary “Xi Jinping’s Cultural Story” premieres on major Italian media

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

    In celebration of the 55th anniversary of the establishment of diplomatic ties between China and Italy, a launch event for the documentary “Xi Jinping’s Cultural Story,” produced by China Media Group, was held in Rome on Wednesday.

    Starting from June 25, the program will be broadcast across more than 30 mainstream Italian media outlets, including Alma TV, Donna TV, Travel TV, Lazio TV, Lombardia City TV, Roma Corona TV, Milan Pavia TV, and the website of Milano Finanza, among others.

    “Xi Jinping’s Cultural Story” features vivid stories that reflect Chinese President Xi Jinping’s deep concern for the inheritance and development of culture. It showcases his profound reflections on the idea that “our country will thrive only if our culture thrives, and our nation will be strong only if our culture is strong,” as well as his deep affection for cultural heritage and his dedication to preserving historical continuity. The program explains to international audiences the essence of Xi Jinping Thought on Culture and the solid cultural foundation underpinning his philosophy of governance.

    The documentary includes on-site visits to places where Xi has worked or conducted inspections, such as Zhengding in Hebei Province, Xiamen in Fujian Province, Hangzhou in Zhejiang Province, and Dunhuang in Gansu Province. Through a variety of narrative forms — including video footage and in-depth interviews — it vividly presents China’s practical efforts in the new era to trace the origins of civilization and protect cultural heritage, highlighting the profound, far-reaching, inclusive and ever-evolving nature of Chinese culture.

    MIL OSI China News –

  • MIL-OSI Banking: RBI imposes monetary penalty on The Karnataka Co-operative Bank Limited, Muddebihal, Karnataka

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated June 23, 2025, imposed a monetary penalty of ₹1 lakh (Rupees One Lakh only) on The Karnataka Co-operative Bank Limited, Muddebihal, Karnataka (the bank) for non-compliance with certain directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’ and ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice and oral submissions made during the personal hearing, RBI found, inter alia, that the following charges against the bank were sustained, warranting imposition of monetary penalty:

    The bank had:

    1. breached the prudential inter-bank (gross) and counterparty exposure limits; and

    2. failed to upload the KYC records of customers onto Central KYC Records Registry within the prescribed timeline.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/600

    MIL OSI Global Banks –

  • MIL-OSI Banking: Secretary-General of ASEAN meets with the Director-General of Casablanca Finance City (CFC)

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, met with Mr. Said Ibrahimi, Director-General of Casablanca Finance City (CFC), in Casablanca, Morocco, on 26 June 2025. SG Dr. Kao shared ASEAN’s progress in financial integration, financial inclusion, and sustainable finance and exchanged views on possible areas of cooperation with Morocco in financial sector.

    The post Secretary-General of ASEAN meets with the Director-General of Casablanca Finance City (CFC) appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI Europe: Pride march in Budapest: Ministers Aurore Bergé and Benjamin Haddad reaffirm France’s support for LGBT+ people’s rights (26 June 2025)

    Source: Republic of France in English
    The Republic of France has issued the following statement:

    On the occasion of the Budapest Pride march on 28 June 2025, France reaffirms its commitment to the freedom, protection and rights of LGBT+ people within the European Union.

    Held as part of Pride month, Pride marches are a legacy of the historic struggles that began with the Stonewall riots in New York on 28 June 1969, the founding event of the contemporary movement for LGBT+ people’s rights. In France, in Europe and all over the world, the marches are a reminder that those rights are the result of collective battles against discrimination, criminalization, pathologization and violence.

    Banned by the Hungarian Government but supported by the Mayor of Budapest, the Budapest Pride march will be held amid a worrying national decline in individual freedoms. LGBT+ people there are facing an increasingly hostile political and social climate, fomented by hate speech and discriminatory policies that fuel an environment of fear and exclusion.

    In this regard, France wants to reiterate its deep commitment to respect for the European Union’s basic values, as set out in Article 2 of the Treaty on European Union: “The Union is founded on the values of respect for human dignity, freedom, democracy, equality, the rule of law and respect for human rights, including the rights of persons belonging to minorities. These values are common to the Member States in a society in which pluralism, non-discrimination, tolerance, justice, solidarity and equality between women and men prevail.”

    France calls for heightened vigilance in the face of legislative and social changes in the various Member States, in order to guarantee respect for basic rights, defend the principles of the European Union and ensure consistency in its values, particularly in terms of equality and non-discrimination.

    At the ministers’ request, M. Jean-March Berthon, Ambassador for the Rights of LGBT+ People, will officially represent the French Government at the march, as a sign of France’s support and commitment.

    What is playing out in Hungary is a reminder of a global reality: the rights of LGBT+ people are far from being guaranteed and remain profoundly fragile. No victory is irreversible.

    Everywhere, reactionary and fundamentalist onslaughts are seeking to restrict equality and wipe out existences. What can be won through struggles can be destroyed through inaction. In the face of this global threat, visibility, international solidarity and commitment remain more essential than ever.

    “Respect for and protection of human rights must apply everywhere, all the time, and to everyone. LGBT+ citizens can in no way be an exception to this basic principle, on which France will never compromise. The slightest relapse in terms of public freedoms within the European Union itself is unacceptable. Combating all forms of regression is a necessity, building a world without violence is an imperative, and furthering human rights is France’s commitment,” said Aurore Bergé, Minister Delegate for Gender Equality and the Fight against Discrimination.

    “My colleague Aurore Bergé and I pay tribute to the advocacy work of the activists, journalists and nongovernmental organizations working to ensure that Hungarians enjoy equal treatment and full legal protection, regardless of their sexual orientation or gender expression. The Budapest Pride march is an important moment both for LGBTQI+ people and for all those committed to freedom. France will remain a powerful champion of a Europe where everyone is guaranteed the opportunity to express their basic freedoms freely and safely,” said Benjamin Haddad, Minister for Europe.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Welfare vote a test of ‘moral backbone’ for Scottish Labour

    Source: Scottish Greens

    26 Jun 2025 Equality

    Scottish Greens call on Labour MPs to vote against Starmer’s Welfare Bill

    More in Equality

    An upcoming vote on social security cuts at Westminster will be a test of Scottish Labour’s moral backbone, says Scottish Green’s social justice spokesperson Maggie Chapman.

    Next Tuesday, Westminster is due to vote on the controversial changes to social security, which would see financial support for disabled people slashed in an effort to save £5 billion from the UK Government’s welfare bill.

    A number of Labour MPs have now supported an amendment to reject the Bill outright, warning that the proposals lack consultation, ignore any real impact assessment, and will deepen inequality. However, the vast majority of Scottish MPs have not signed up.

    The Government’s own impact assessment stated that these proposals could push up to 250,000 people, including 50,000 children, into poverty. Recent research from the Trussell Trust states that 300,000 Scots could lose £500 a year in crucial disability support payments if the cuts are voted through.

    The Scottish Greens are urging all Scottish Labour MPs and MSPs to clearly oppose the dangerous cuts to social security, and oppose this new wave of austerity inflicted on Scotland.

    Commenting, Maggie said:

    “It’s clear to anyone who’s looking that the brutal welfare cuts put forward by Labour at Westminster will push disabled folk across the UK into poverty. The Government’s own assessment of the proposals tells us that. 

    “Supporting these turbo-charged austerity measures – while the evidence of the harms they will cause is so painfully obvious – is completely inexcusable. This is not leadership, it is cowardice and cruelty dressed up as pragmatism.

    “Next week’s vote will be a crucial moral test for all Scottish Labour politicians. Will they choose to back a Prime Minister who is once again ploughing ahead with deeply unpopular and harmful cuts to our communities, or will they do the right thing and stand up for their constituents in Scotland?

    “There is no excuse for silence here in Holyrood or Westminster. Now is the time to show solidarity and moral leadership – not to hide behind party lines.

    “The public deserves better than a Labour Party that promises change but delivers cuts.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Massive annual increase in private jet traffic in Scotland shows urgent need to tax the rich

    Source: Scottish Greens

    26 Jun 2025 Climate Transport

    Prestwick Airport has seen a 32% annual increase in private jet flights

    More in Climate

    A 32% year-on-year increase in private jet flights to just one Scottish airport is a sign that we urgently need to tax the super-rich, says Scottish Greens MSP Ross Greer.

    The statistic comes from an investigation from Oxfam Scotland, which revealed that Scottish Government-owned Prestwick Airport saw a huge 32% increase in private jet flights from 2023 to 2024.

    Oxfam Scotland’s investigation also highlighted that some private jets can emit 20 or even 30 times more carbon emissions than flying economy class.

    The Scottish Greens have long campaigned for a Private Jet Tax in Scotland by increasing the rate of Air Departure Tax (ADT) on non-commercial jets. However, an ongoing stalemate between the Scottish Government and the UK Government over the introduction of ADT has delayed progress.

    The party is now calling for the Scottish Government to show clear leadership and to tax the super-rich by introducing a departure and arrival levy on private jet flights at Government-owned airports, namely Prestwick and the eleven airports owned via Highlands and Islands Airports Limited (HIAL).

    While Prestwick Airport sees substantial private jet traffic, often associated with golf events, HIAL airports are also regularly used by international elites who own large estates in Scotland.

    Ross said:

    “An obscene amount of wealth is being hoarded by a tiny number of elites who fly across the globe in their climate-wrecking private jets.

    “These jets have a huge impact on our environment, and while their super-rich occupants fly between their golf courses and superyachts, it’s Scottish taxpayers left paying to clean up their mess.

    “We all know that we urgently need to reduce pollution from planes to combat the climate emergency. One of the easiest ways to do that is to reduce private jet use, which is twenty times more polluting than regular commercial flights.

    “That’s why the Scottish Greens are proposing a private jet tax, which would raise money for our public services and keep the super-rich and their destructive toys on the ground.

    “We’ve waited for years for the Scottish and UK Governments to deliver the devolution of Air Departure Tax in Scotland, as they agreed to do over a decade ago.

    “Delays to the devolution of ADT aren’t a get out of jail free card for the Scottish Government. They can introduce a charge on private jets at the dozen airports they own right now, raising cash for public services and taking action to tackle the climate emergency.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Urgent warning to pet owners as toxic chemicals found in fake flea treatments

    Source: United Kingdom – Executive Government & Departments

    Press release

    Urgent warning to pet owners as toxic chemicals found in fake flea treatments

    Pet owners urged to be wary of dangerous fake treatments discovered on e-commerce sites.

    Main developments are:

    • urgent government warning issued after toxic insecticide discovered in counterfeit flea treatments – one cat required emergency surgery after severe poisoning

    • fake pet medicines lack essential ingredients while containing dangerous chemicals that trigger vomiting, seizures and potential death

    • warning signs include poor packaging, spelling mistakes, unusual smells and suspiciously low prices

    • new figures show three quarters of consumers wrongly believe fake goods are of similar quality to genuine products

    • pet owners should only buy from trusted sources and immediately report suspicious products

    The Intellectual Property Office (IPO) and Veterinary Medicine Directorate (VMD) are urging pet owners to take caution when purchasing common medicines, including common flea treatments and wormers. 
     
    The alert comes after toxic pesticide traces were found in a fake flea treatment that caused a pet cat to become seriously ill, prompting the owner to have the product tested. Laboratory tests confirmed the presence of Pirimiphos-methyl, a dangerous insecticide toxic to cats. 
     
    Officials are urging pet owners to recognise signs of counterfeit products, avoid using suspicious items, and know how to report concerns.  

    Counterfeit animal medicines deliberately copy the appearance, packaging and branding of genuine veterinary products to deceive pet owners. Like all counterfeits, they are illegal to sell in the UK.   

    These fakes typically lack proper active ingredients, making them ineffective. Worse still, they may also contain harmful substances, causing severe reactions including vomiting, muscle tremors, breathing difficulties, seizures and potentially death.

    Pet owners seeking bargains, or a quick purchase online may unknowingly purchase these dangerous counterfeits.  
     
    The VMD and IPO are urging owners to check for warning signs including poor packaging, spelling errors, missing information, and unusual smells. 

    Last year alone, the VMD issued 122 seizure notices for the selling of unauthorised animal medicines and supplements, preventing around 18,000 illegal items from reaching consumers. 

    After purchasing what appeared to be genuine FRONTLINE ® flea treatment online for his cat, Smokey, Alan Wall from Preston was devastated when Smokey became very unwell. The condition was so severe that Smokey required emergency intestinal surgery to survive. This was followed by a week-long stay at the veterinary surgery and significant bills to support his recovery.

    Alan Wall said:

    Smokey is more than just a pet, he’s a member of our family. When he became ill after using what we believed was a genuine flea treatment, we were terrified. Watching him suffer, not knowing whether he would pull through, was heartbreaking. It’s taken a huge emotional toll on all of us. Without the support of our vets and the extensive surgery they performed we know Smokey wouldn’t be with us today. We want to warn other pet owners about these fake products so that no one else has to endure what we’ve been through.

    Images of Smokey the cat – receiving treatment, and when healthier

    A Veterinary Medicines Directorate Veterinary Surgeon and Efficacy Assessor, Dr Heilin-Anne Leonard-Pugh, explains:

    Pirimiphos-methyl is toxic to cats. Exposure to this insecticide can prevent the cat’s body from breaking down a substance called acetylcholine, leading to an overstimulation of the cat’s nervous system. This can cause symptoms such as vomiting, uncoordinated gait, muscle tremors, weakness, paralysis, increased sensitivity to touch, difficulty breathing, restlessness, urinary incontinence, low heart rate and seizures. In some cases, even death can sadly occur. If you suspect your pet has been exposed to a counterfeit medicine, seek veterinary advice immediately.  

    Sue Horseman from Bristol also purchased what appeared to be FRONTLINE® flea treatment online for her cat, but quickly became suspicious that the product wasn’t genuine.  
     
    Sue explained that the product was difficult to open and had a distinct smell of white spirit and paraffin, whereas the genuine flea treatment has no smell.  When she reported this to Trading Standards, experts confirmed that the treatment was a counterfeit. 

    While the online platform has removed the seller, they had already managed to sell 211 batches of suspected counterfeit pet medicines and supplements, including fake FRONTLINE Flea and Tick Treatment and PRO PLAN FortiFlora Probiotic Sachets for dogs and cats. 
     
    New counterfeit goods research (Wave 4) shows that counterfeit goods of all types are frequently purchased via global e-commerce websites. The figures also show that in 2024, nearly-one-in-five (17%) consumers unknowingly purchased goods later found to be fake, with 60% of purchasers also saying that ‘ease of purchasing’ influenced their decision.  Saving money is a strong motivator for buying fakes, with around three quarters (72%) of purchasers saying price was an important factor in their decision. Worryingly, around three-quarters (72%) wrongly believed the products would be of a similar quality to the genuine item.

    The IPO’s Deputy Director of Enforcement Helen Barnham, said:

    We are a nation of animal lovers, and criminals dealing in counterfeits are targeting pet owners with complete disregard for the animal’s wellbeing.  This can have some distressing consequences, as they may contain toxic chemicals that are harmful to our pets. We are urging pet owners to be vigilant when purchasing any type of animal treatment, and beware of any offers that ‘look too good to be true’.   

    Counterfeiting is anything but a victimless crime and this latest discovery confirms this. If you suspect that any goods offered for sale may be counterfeit, you should always report this to your local Trading Standards or Crimestoppers Online.

    Caroline Allen, RSPCA Chief Veterinary Officer said: 

    We are very concerned about counterfeit vet treatments on sale which can be highly toxic to pets and we would always urge pet owners to seek professional veterinary advice if they have any health concerns.  

    We appreciate financial pressures can lead to some owners to look for cheaper treatments online but they could be unwittingly putting their beloved pets in serious danger by inadvertently buying these counterfeit goods and would urge them to take on board this government advice.

    Nina Downing, Vet Nurse from PDSA, a vet charity and a leading authority on pet health in the UK, said:

    Counterfeit veterinary medicines can pose a serious threat to our pets ‘ health and wellbeing. While legitimate medications play a vital role in keeping our pets healthy, counterfeit products can cause severe harm or even be fatal. These fake medicines may contain incorrect ingredients or dangerous substances that can make pets extremely ill – leading to symptoms like twitching, swelling, breathing difficulties, vomiting, diarrhoea, collapse, coma and even death.

    We always recommend that you only give your pet medication which has been prescribed by your vet. When fulfilling a prescription online, source them from reputable companies that are on the Register of online retailers, brought to you by the Veterinary Medicines Directorate. If you suspect your pet is reacting badly to any medication, contact your vet immediately.

    When examining the counterfeit FRONTLINE® flea treatment, experts from the University of Bath also identified telling packaging flaws. Most notably, the label used ‘GATTI’ (Italian for cats) instead of the English ‘CAT’, alongside multiple spelling errors – common indicators of counterfeit products.

    Image: Packaging featuring spelling mistakes and mixed languages

    Pet owners should check the packaging and always be cautious of third-party sellers when shopping on e-commerce sites for any type of pet medication. 

    The IPO and VMD are offering advice for consumers to help spot fake animal medicines, and what to do if they believe they may have purchased them or seen them offered for sale.

    How to identify fake animal medicines online:

    1. Warning signs of fake medicines. Look out for: 

    • poor quality or damaged packaging
    • spelling or grammar errors
    • missing leaflets or expiry dates
    • instructions not provided in English
    • suspicious smell, colour or texture
    • poor quality tablets, capsules, vials or pipettes – homemade appearance

    Be wary of any retailer selling prescription only products without asking for your prescription. This is illegal. 

    All online sellers of prescription only animal medicines must be registered with the VMD. If in any doubt, you can check retailers on the VMD’s Register of Online Retailers.

    2. Always shop safely online. Be cautious of:

    • heavily discounted goods and flash sales. Question the price if much cheaper than elsewhere. Whether buying online or in person, always think about the price
    • a seller asking for sensitive information or requesting payment by bank transfer
    • fake websites and social media profiles. These can contain original brand names – confirm the website is authentic and check seller details and reviews before purchasing
    • any deal or offer that looks ‘too good to be true’ 

    What you can do

    If you have you been personally affected by a poisoning case, you should report through the Veterinary Poisons Information Service (VPIS) questionnaire. 

    If you see these goods being offered for sale, whether on a website, social media post or on the high street, contact your local Trading Standards or Crimestoppers online or by calling 0800 555 111. 

    If you encounter suspicious veterinary medicines or retailers, please also report them to the VMD Enforcement Team. (You can do so anonymously if preferred): 

    Additional information

    1. All veterinary medicines sold in the UK must be authorised. If the brand looks unfamiliar, ensure its authorised before purchasing. To know if the medicine is UK- approved, you should look for English labelling and a valid Marketing Authorisation number (e.g. Vm 12345/4001). You can check if the medicine you are buying is authorised in the UK by searching the VMD’s Product Information Database.

      Using ant unauthorised medicine poses a serious risk to the welfare of your pet. These medicines have not been assessed by the Veterinary Medicines Directorate and their safety, quality and efficacy cannot be guaranteed.  

    2. Online retailers of low-risk, general sale veterinary medicines that can be sold by anyone without a prescription (known as AVM-GSL medications) don’t need to register. When buying these medicines always shop from a trusted source. 

    3. The Intellectual Property Office (IPO) is the UK government body responsible for responsible for intellectual property (IP) rights including patents, designs, trade marks and copyright. IPO is an executive agency, sponsored by the Department for Science, Innovation and Technology.  

    4. The Veterinary Medicines Directorate (VMD) is an executive agency of the Department for Environment, Food and Rural Affairs (DEFRA) and the UK Competent Authority for veterinary medicines regulation. The VMD protects public health, animal health, and the environment and promotes animal welfare by assuring the safety, quality, and efficacy of veterinary medicines.  

    5. The IPO regularly conducts research to understand consumer behaviour in relation to the purchasing of and attitudes toward counterfeit goods. The most recent Counterfeit Goods Research report (published Tuesday 17 May 2025) show the main motivations for those who purchase counterfeits: 

    • similar/ the same quality – 72.3%
    • wanting to reduce spending/outgoings - 72%
    • the real product was out of your budget/ price range - 70.9%
    • the fake product was cheaper  – 72%
    • hearing from family or friends that the ‘fake’ products were good - 64.8%
    • similar/the same design – 64.6%
    • being able to purchase ‘fake’ or counterfeit products easily – 60.5%

    Updates to this page

    Published 26 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Growth and local jobs top of the agenda as Cardiff Capital Region Investment Zone advances

    Source: United Kingdom – Government Statements

    Press release

    Growth and local jobs top of the agenda as Cardiff Capital Region Investment Zone advances

    Investment Zone to drive innovation and growth in advanced manufacturing, digital and technology sectors

    • Zone will develop semiconductor hub in Newport and science and tech park in Cardiff as part of the government’s transformative Industrial Strategy announced today
    • Expected to attract £500m private sector investment and create 4000 new jobs as part of the government’s Plan for Change

    The Cardiff Capital Region Investment Zone has taken a major step forward with the announcement of its industrial and key sites, giving a huge boost to regional investment and job creation.

    The Investment Zone – a joint initiative between the UK and Welsh Governments – will drive innovation and growth across the advanced manufacturing and digital and technology sectors, with a focus on the region’s world-class compound semiconductor cluster. 

    Backed by £160m of UK Government funding, the Zone will develop the semiconductor hub in Newport, where key businesses including KLA, IQE and Vishay are located, and develop a science and technology park to become the focus point for R&D activity and investment in Cardiff. 

    The Investment Zone – one of two planned for Wales – is expected to attract £500m of private sector investment, create 4000 new jobs and unlock 3m square feet of manufacturing, R&D and innovation capacity. 

    UK Minister for Building Safety, Fire and Local Growth Alex Norris said: 

    Unleashing the potential of our cities and regions is at the heart of the Industrial Strategy and the Plan for Change. 

    The Cardiff Capital Region Investment Zone Investment Zone, which we’re backing with £160m of funding, will build on the region’s industrial strengths to shape an exciting future for local people – creating new skilled jobs and driving economic growth locally and across Wales.

    Welsh Secretary Jo Stevens said:

    This step forward for the Cardiff Capital Region Investment Zone is a huge boost for the world-class business and industry within the area.

    It will drive growth, create 4,000 jobs and build on the talent and expertise that already exists in this part of Wales.

    Working alongside Welsh Government we are building the economy of the future and delivering for working people across the country.

    Welsh Government Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said: 

    The Cardiff and Newport Investment Zone marks a transformative step forward for South East Wales and demonstrates our firm commitment to establishing the region as a global powerhouse in compound semiconductors.

    We will continue working closely with the South East Wales Corporate Joint Committee and the UK Government to build on the region’s strengths, attract significant private investment, strengthen regional partnerships and deliver real benefits that people across Wales will feel in their everyday lives.

    Cllr Mary Ann Brocklesby, Leader, Monmouthshire Council, and Chair, Cardiff Capital Region said: 

    This is a tremendous step forward for the Investment Zone. We look forward to building upon our strong industrial base and world-class research in semiconductors to drive innovation in emerging technologies, and fast-growing markets, whilst working together with UK and Welsh Government.

    By aligning our efforts with the region’s unique assets and fostering collaboration across sectors, we aim to create a dynamic environment where new ideas thrive, investment is attracted, and meaningful impact is delivered to people and places across the region.

    The news comes as part of the Industrial Strategy announcement today (Monday).

    As set out in the strategy, advanced manufacturing and digital and technology are two key growth-driving sectors.

    The news follows the confirmation of the industrial and geographic focuses of two Investment Zones in Scotland earlier this month, and the Wrexham and Flintshire Investment Zone earlier this year.

    ENDS

    Updates to this page

    Published 26 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Dmitry Chernyshenko: 94% of young people are proud that they are citizens of Russia

    Translation. Region: Russian Federal

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

    Representatives of government bodies and public organizations involved in the implementation of youth policy summed up the results of Rosmolodezh’s activities in 2024 and announced plans for 2025.

    Dmitry Chernyshenko noted that one of the key results of 2024 was the adoption of the Strategy for the implementation of youth policy in Russia until 2030.

    “Youth policy occupies a special place in the system of public administration. It is aimed at realizing the potential of each person, developing their talents, and raising patriotic, socially responsible citizens. This is a national goal set by our President Vladimir Vladimirovich Putin. According to surveys, today more than 86% of young people believe in the possibility of self-realization in Russia, and 94% of young people are proud to be its citizens. These are good indicators. They mean that we are creating conditions for every young person in our country to find their path and reveal their talent,” the Deputy Prime Minister emphasized.

    Dmitry Chernyshenko noted that at the Government meeting chaired by Mikhail Mishustin, an action plan for the Strategy for the Implementation of Youth Policy was adopted: “The plan contains about 90 different initiatives from 30 ministries and departments. It contains sections on such important areas as creating favorable conditions for young families aimed at increasing the birth rate, and forming a system of values for a healthy lifestyle among young people.”

    As part of the strategy’s implementation, special attention is also paid to expanding youth infrastructure. In 2024, 18 year-round educational youth centers were opened, 11 of which were opened with the participation of the President. Separate executive authorities have been formed in 87 constituent entities of the Russian Federation, and the “Movement of the First” has united a quarter of all children and young people in the country.

    Dmitry Chernyshenko emphasized that an important area is the involvement of SVO veterans in the implementation of youth policy, where they occupy key positions. International youth cooperation is also actively developing, as evidenced by the World Youth Festival held in Russia.

    The volunteer movement is also growing. Thus, the number of volunteers on the Dobro.RF platform has increased by one and a half million people in six months.

    In his report, the chairman of the board, head of Rosmolodezh Grigory Gurov, announced the results of the agency’s activities for 2024.

    “Today, the board summed up the results of the department’s activities and outlined priority tasks for the future. Since this year, on the instructions of the President, we have been implementing the national project “Youth and Children”. Its measures cover all areas of young people’s lives – from the creation of educational infrastructure and modern youth spaces to projects aimed at self-realization of young people and support for their initiatives. We measure the results of our work not by the number of events held, but by changes in the consciousness of young people – strengthening the sense of pride in their country, faith in the possibilities of self-realization in Russia. Today, 86.1% of young people believe in these possibilities, and 94% of young people feel pride in the country. This work is being carried out together with specialized departments, public associations and institutions, educational institutions. It is very valuable that our friends and partners were present at the board meeting today. Together we are creating a unified educational space so that every young person can realize their dreams in Russia – the land of opportunity,” emphasized the head of Rosmolodezh Grigory Gurov.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Marat Khusnullin: About 3.2 thousand km of the regional backbone road network will be updated under the national project “Infrastructure for Life” this year

    Translation. Region: Russian Federal

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

    The road Astrakhan – Krasny Yar – the border of the Republic of Kazakhstan, Astrakhan region.

    As part of the national project “Infrastructure for Life”, work is underway to reconstruct and repair road sections throughout the country. This year, it is planned to bring about 3.2 thousand km of regional and inter-municipal roads included in the backbone network into regulatory condition.

    “The backbone network as the key transport framework of our country covers about 82 million people. By 2030, the task is to ensure that about 120 million people are in the backbone network zone. By that time, the share of backbone network roads in the standard should increase to 85%. These highways not only connect regional capitals with municipal districts, but also lead to large cities, industrial centers, and the borders of neighboring states. It is along them that the main freight and passenger flow moves. The good condition of such roads also contributes to an increase in the quality of life of citizens by reducing travel time and making travel more comfortable. This year, under the federal project “Regional and Local Road Network” of the national project “Infrastructure for Life”, we will bring 3.2 thousand km of backbone network roads up to standard,” said Deputy Prime Minister Marat Khusnullin.

    Let us recall that in 2023, the concept of “backbone road network” was enshrined in Russian legislation for the first time. The corresponding law was signed by President Vladimir Putin.

    “Today, the total length of the backbone road network is 140.8 thousand km. Of this amount, 74.3 thousand km are roads of regional or inter-municipal significance and 66.5 thousand km are federal. Thanks to the interaction of the federal center and regional project teams, by the end of 2024, the share of backbone road network in the standard was 73.18%,” emphasized Minister of Transport Roman Starovoit.

    The positive experience of previous years will contribute to the implementation of the tasks set before road workers.

    “In 2024, over 3.5 thousand km of the backbone network were updated under the federal project “Regional and Local Road Network” of the national project “Safe High-Quality Roads”. This work is actively continuing in the regions today thanks to the national project “Infrastructure for Life”, – noted Deputy Head of the Federal Road Agency Igor Kostyuchenko.

    Thus, in the Ryazan region, major repairs are underway on a section of the regional highway Tambov-Shatsk, which connects the subject with the neighboring Tambov region. The length of the facility is 15.8 km.

    The same road is being renovated in the Tambov region. In 2025, 20.1 km of the road surface will be repaired under the national project. In particular, in the area of the villages of Serpovoye and Khlystovo, the asphalt concrete surface will be replaced, and near the village of Algasovo, road workers will lay the foundation for 2 km, lay the lower and upper layers of the road surface.

    In the Novosibirsk region this season 50 km of the Novosibirsk-Kochki-Pavlodar highway will be renewed. It provides fast communication with the regional center for residents of five districts and more than a hundred settlements, and is also a transport corridor to the Republic of Kazakhstan.

    The work is being carried out in five districts of the region at once. The largest is in Novosibirsk. Here, reconstruction of a section near the villages of Krasny Vostok and 8 Marta, 3.2 km long, has begun. The road will be widened to 4 lanes, 7 adjoining sections will be built, 4 stops and 2 overground pedestrian crossings will be equipped.

    In the Astrakhan region, a 12-kilometer section of the Astrakhan-Krasny Yar-border with the Republic of Kazakhstan highway has already been put into operation after repairs. The highway plays an important role in the economic and social development of the region, as it provides transport links with the neighboring state – the Republic of Kazakhstan.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Saudi Arabia: Concluding Statement of the 2025 Article IV Mission

    Source: IMF – News in Russian

    June 26, 2025

    A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

    The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.

    Washington, DC: Saudi Arabia’s economy has demonstrated strong resilience to shocks, with non-oil economic activities expanding, inflation contained, and unemployment reaching record-low levels. While lower oil proceeds and investment-linked imports led to the emergence of twin deficits, external and fiscal buffers remain ample. A higher-than-budgeted fiscal stance in 2025 remains appropriate to prevent procyclicality that could exacerbate the growth impact of lower oil prices. Addressing strong credit growth and associated funding pressures will be crucial in mitigating risks to systemic financial stability. Given the current heightened global uncertainty, continued efforts on structural reform are essential to sustain non-oil growth and drive economic diversification.

    RECENT ECONOMIC DEVELOPMENTS[1]

    Saudi Arabia’s economy has been resilient to shocks. In 2024, non-oil real GDP grew by 4.2 percent, primarily driven by private consumption and non-oil private investment, with retail, hospitality, and construction leading growth. Repeated extensions of the OPEC+ production cuts have kept oil output at 9 million barrels per day (mb/d)—the lowest level since 2011— resulting in a 4.4 percent decline in oil GDP and an overall real growth rate of 1.8 percent. The composite PMI indicates sustained activity in Q1 2025, with the latest Q1 GDP estimate showing non-oil activities expanding by 4.9 percent year-on-year.

    The labor market’s strong momentum continues. The unemployment rate for Saudi nationals has declined to a record low of 7 percent in 2024, surpassing the original Vision 2030 target, which has now been revised down to 5 percent. The improvement is broad-based, with both youth and female unemployment halved over a four-year period. Private sector employment surged by 12 percent on average in 2024, while public sector hiring continued to slow, reflecting a redeployment to non-government entities.

    Inflation is contained as rent inflation decelerates. Despite a small pick-up to 2.3 percent in April 2025, headline inflation remains low, helped by high real interest rates. Declining prices for transport and communication helped offset housing rent inflation, which has decelerated for the 6th consecutive month to 8.1 percent y-o-y (the lowest annual rise since February 2023). Real wages have remained stable, albeit with some pickup for highly skilled workers.   

    The current account shifted to a narrow deficit, transitioning from a surplus of 2.9 percent of GDP in 2023 to a deficit of 0.5 percent of GDP in 2024. This shift mainly reflects a decline in oil export proceeds, higher imports of machinery and equipment, and stronger remittance outflows—factors that more than offset a surge in tourism inflows. The current account deficit has been financed through external borrowing and reduced FX asset accumulation. As a result, the Saudi Central Bank’s (SAMA) net foreign assets (NFA) holdings stabilized at $415 billion by end-2024—equivalent to 15 months of imports and 187 percent of the IMF’s reserve adequacy metric. 

    While spending overruns increased the overall fiscal deficit, the fiscal stance—as measured by the non-oil primary balance—showed a slight improvement in 2024. Additional expenditures related to project financing—partly linked to an accelerated implementation of Vision 2030—and flat oil revenue widened the overall fiscal deficit to 2.5 percent of GDP, approximately 0.8 percentage points above the budgeted target. However, driven by stronger non-oil revenue, the non-oil primary deficit improved, decreasing by 0.6 percentage points of GDP in 2024 compared to 2023. Central government debt rose to 26.2 percent of GDP as Saudi Arabia became the largest emerging market dollar debt issuer in 2024. However, Saudi Arabia remains amongst the lowest indebted nation globally and net debt is relatively low at approximately 17 percent of GDP.

    ECONOMIC OUTLOOK AND RISKS

    Robust domestic demand—including from government-led projects—will continue to drive growth despite heightened global uncertainty and a weakened commodity price outlook. Non-oil real GDP growth is projected at 3.4 percent in 2025, about 0.8 percentage points lower than in 2024. This reflects the continued implementation of Vision 2030 projects through public and private investment, as well as strong credit growth, which would help sustain domestic demand and mitigate the impact of lower oil prices. The direct impact of rising global trade tensions is limited, as oil products—comprising 78 percent of Saudi Arabia’s goods exports to the U.S. in 2024—are exempt from U.S. tariffs, while non-oil exports to the U.S. only account for 3.4 percent of Saudi Arabia’s total non-oil exports. Over the medium term, domestic demand—including momentum ahead of Saudi Arabia’s hosting of large-scale international events—is expected to push non-oil growth closer to 4 percent in 2027 before stabilizing at 3.5 percent by 2030. Supported by the OPEC+ production cut phase-out schedule, overall GDP growth will accelerate to 3.5 percent in 2025 and 3.9 percent in 2026 before stabilizing at approximately 3.3 percent over the medium term.

    Inflation would remain anchored around 2 percent, supported by a credible peg to the U.S. dollar, domestic subsidies, and an elastic supply of expatriate labor, notwithstanding a projected moderate positive output gap over the medium term. Imported inflation from increased tariffs worldwide is expected to remain contained.

    The external position will weaken. Investment-linked imports and remittance outflows from an expanding expatriate labor force are expected to widen the current account deficit, which is projected to peak at about 3.9 percent of GDP by 2027 before converging to about 3.4 percent of GDP in 2030. Rising non-oil exports and robust inbound tourism will have a partial offsetting effect. The deficit will be increasingly financed through deposit drawdowns, less FX asset accumulation abroad, and external borrowing. International reserve coverage would remain adequate at about 11-12 month import coverage over the medium term, with foreign assets held by the Public Investment Fund (PIF) and other government-related entities offering strong additional buffers.

    Risks to the outlook are mainly to the downside. Weaker oil demand, driven by heightened uncertainty, an escalation of global trade tensions, and deepening geoeconomic fragmentation could dampen oil proceeds. This, in turn, would lead to higher fiscal deficits and debt and costlier financing. An abrupt decrease in spending by the government (including projects recalibration below its baseline) or a slowdown in reform implementation in response to lower oil prices could further hinder private investment growth. Conversely, higher-than-expected oil production/prices and accelerated implementation of reforms could yield stronger or earlier-than-expected growth dividends.

    POLICIES

    Fiscal Policy

    The 2025 fiscal stance—resulting in a deficit twice the budget target—remains appropriate. Given past overruns and the ongoing transformational projects tied to Vision 2030, staff anticipates higher current expenditures than budgeted. Combined with lower oil prices and minimal performance-linked dividends from Aramco, this will bring the overall fiscal deficit to 4.3 percent of GDP. However, this outcome still represents a 3.6 percentage points of non-oil GDP improvement in the non-oil primary balance, effectively frontloading part of the adjustment required by 2030 to uphold intergenerational equity. Given the upfront adjustment and ample fiscal buffers available, staff believes that additional spending restraint in 2025—triggered by lower-than-budgeted oil prices—is not necessary as it would make fiscal policy procyclical and exacerbate the impact on growth.

    Over the medium term, the overall fiscal deficit is expected to narrow. After peaking at 4.3 percent of GDP in 2025, it will decline to approximately 3.3 percent of GDP by 2030, driven by ongoing wage bill containment and spending efficiency measures. Under this baseline scenario, the non-oil primary deficit would shrink by about 4.2 percent of non-oil GDP from 2025 to 2030. The fiscal deficit would primarily be financed by borrowing, including through debt issuances, syndicated loans or facilities from export credit agencies, leading to an increase in the public debt-to-GDP ratio to about 42 percent by 2030.

    A gradual fiscal consolidation will remain necessary over the medium term to achieve intergenerational equity. To avoid disruptive adjustments and build buffers, an additional 3.3 percent of non-oil GDP must be generated over the 2026-30 period, mainly through:

    • Non-oil revenue mobilization. Plans to increase the tax rate on underdeveloped land, introduce a tax on vacant land, and broadening the VAT base (e.g., for e-commerce transactions) are welcome. Additional efforts—including through new tax policy measures and continued efforts to strengthen revenue administration—would be needed. The temporary tax penalty waiver introduced repeatedly since Covid, should not be renewed when it expires in June as it fuels moral hazard and could undermine compliance.
    • Removing energy subsidies. Staff welcomes the ongoing energy price adjustments—including a doubling of diesel prices since January 2024—which combined with lower international oil prices have reduced fuel subsidies to 3½ percent of GDP (down from 5½ percent in 2022). With retail fuel prices closer to international oil prices and the envisaged scaling up of the well-targeted Damaan social support program, efforts should be accelerated to reduce energy subsidies, including by removing the cap on gasoline prices.
    • Rationalizing other spending. The mission welcomes ongoing spending reviews—including recent assessments on project execution by various government entities—to identify areas for potential savings and efficiency gains. Further rationalization should prioritize reducing current expenditures with a low fiscal multiplier, while preserving medium-term, growth-enhancing infrastructure plans. Greater transparency on how spending prioritization and recalibration aligns with the authorities’ announced investment plans will support investor confidence.

    Given the high global uncertainty, staff welcomes the authorities’ contingency planning to safeguard fiscal sustainability in the event of a severe shock. In a scenario where oil prices decline significantly, a more aggressive fiscal consolidation strategy would be necessary. Identifying and prioritizing projects that can be extended or cut, if further adjustments are required, represents a prudent approach to maintaining fiscal sustainability. Staff recommends a partial drawdown of fiscal buffers in the event of a temporary oil price shock, which would help smooth the transition to a steady state and mitigate the impact of short-term oil price fluctuations.

    Sustaining the authorities’ ongoing efforts to strengthen fiscal institutions will be crucial in supporting the fiscal adjustment and Saudi Arabia’s Vision 2030 objectives. Enhancing the Medium-Term Fiscal Framework remains a priority, particularly through better integration of its multiyear projections into annual budget preparations to align spending ceilings with fiscal forecasts, including commitments from multi-year contracts. Operationalizing and ensuring compliance with an expenditure-based fiscal rule would help anchor the fiscal stance over the medium term.

    Prudent debt management and a proper sovereign asset liability management (SALM) framework becomes increasingly important in a lower oil price environment. The mission encourages the authorities to assess the complex trade-offs between making greater use of central government deposits (currently at around 9¼ percent of GDP) and new bond issuances. The mission also supports the ongoing efforts toward operationalizing a comprehensive SALM framework to enhance the oversight of sovereign balance sheet exposures, which publication alongside the budget statement would support the drive for greater transparency and provide additional tools for fiscal policy analysis and formulation. Additionally, contingent liabilities—such as financing obligations for giga projects, debt guarantees, and Public-Private Partnerships—should be closely monitored.

    Monetary and Exchange Rate Policy

    SAMA has continued to refine its liquidity management framework to help reduce  overall liquidity volatility. Bank funding conditions in Saudi Arabia are influenced by persistently strong double-digit credit growth, with periodic spikes in the SAIBOR-SOFR spread reflecting episodes of liquidity pressures. SAMA’s standard market-based monetary operations should continue to remain focused on smoothing short-term liquidity imbalances without fueling asset/credit growth. The recent data-sharing arrangement between SAMA and the Ministry of Finance regarding expected government transactions is anticipated to improve the accuracy of liquidity forecasting and should be effectively implemented. Additionally, further enhancements to the reserve requirement framework would strengthen effective liquidity management and monetary policy transmission.

    The currency peg to the U.S. dollar remains appropriate. It has provided a credible anchor for monetary policy and is backed by ample external buffers. With an open capital account, it is essential that SAMA’s policy rate continues to align with the Fed’s policy rate.

    Financial Sector Policies

    The banking sector remains resilient, demonstrating strong capitalization and profitability despite rising funding costs. As of end-2024, the sector’s solvency ratio stood at 19.6 percent. Despite higher funding costs—driven by the increasing share of time and saving deposits—bank profitability is high, with an average return on assets of 2.2 percent in 2024. Non-performing loans have reached their lowest levels since 2016, reinforcing overall financial stability. Liquidity indicators are adequate and within regulatory thresholds, although the ratio of liquid assets to short-term liabilities has been declining, and the regulatory loan-to-deposit ratio has been on an upward trend.

    Strong credit growth is leading to funding pressures and a change in the funding mix of Saudi banks. As credit growth—mostly to corporates and for mortgages—outpaces deposit growth, banks diversify their liabilities by increasing reliance on other forms of financing, especially external borrowings in the form of bonds, bilateral or syndicated loans, and certificates of deposit. High external borrowing turned banks’ Net Foreign Assets (NFA) negative in 2024 for the first time since 1993. This trend is expected to continue in the near term as several banks are in the process of securing additional external funding. However, banks’ exposure to foreign exchange risk remains low.

    Addressing strong credit growth and associated funding pressures would help mitigate risks to systemic financial stability. The mission welcomes SAMA’s ongoing efforts to review its existing prudential toolkits to counter risks stemming from persistent double-digit credit growth amid a credit-to-deposit growth gap and the increased resort to short-term external wholesale funding. As loan demand is expected to remain high relative to deposit-based funding, setting prudential requirements commensurate with the evolving risks is essential. In that regard, the mission welcomes the introduction in May 2025 of a 100 basis points countercyclical capital buffer, which will be effective within a year. Vulnerabilities would be further mitigated by: (i) narrowing loan-to-value and debt burden ratios, which remain elevated relative to international standards; and (ii) tightening loan-to-deposit ratio to discourage excessive short-term foreign exchange funding. The mission welcomes SAMA’s proactive approach to monitoring the Liquidity Coverage Ratio and Net Stable Funding Ratio in foreign currency and encourages consideration of setting these ratios as regulatory requirements, should circumstances warrant.

    SAMA’s continued efforts to enhance regulatory and supervisory frameworks are commendable. The new Banking Law has been submitted for legislative approval, a risk-based supervisory framework is being refined, and a monitoring system has been introduced for large construction and infrastructure projects. Additionally, SAMA’s bank resolution function is being operationalized. The authorities have also made good progress in establishing a crisis management framework that includes an emergency liquidity assistance framework, which should be completed without undue delay. Furthermore, improvements in enhancing the effectiveness of AML/CFT supervision—including through thematic inspections—are welcome.

    Deepening the capital market is essential to help diversify funding and reduce reliance on bank financing. Although the capital market remains dominated by the large government-related issuers and the trading volumes are low, the recent and ongoing initiatives, such as the Investment Law that came into effect in February 2025 and the ongoing pension and savings reforms, should improve market liquidity and increase foreign participation in the Saudi capital markets. Greater use of asset-backed securities will create a new asset class and contribute to expanding funding in the banking system. The deepening of the domestic capital markets would also help improve the monetary policy transmission mechanism.

    Structural Policies

    The current environment of heightened uncertainty underscores the importance of continued structural reform efforts to sustain non-oil growth and economic diversification. Since 2016, Saudi Arabia has implemented significant and wide-ranging reforms, particularly in business regulations, governance, labor and capital markets. Several new laws that took effect in 2025—including the updated Investment Law, Labor Law amendments, and the new Commercial Registration Law—will enhance contractual certainty for investors and businesses, while also supporting productivity gains.

    The reform momentum should continue irrespective of oil price developments. Ongoing work to strengthen the anti-corruption framework—including by building on the recent Ultimate Beneficial Ownership Rules and By Laws of Nazaha—remains crucial. Equally important is enhancing human capital by aligning the skills of Saudi nationals with evolving labor market needs, improving access to finance and fostering digitalization, all of which are key to advancing the Kingdom’s economic diversification goals that are further enhanced with the integration of AI in government services. In addition to stronger fiscal institutions, pursuing these reforms will help Saudi Arabia build further resilience to oil price volatility.

    Targeted interventions through industrial policies should complement—not replace— structural reforms and must avoid crowding out private sector investment. Interventions by the PIF and public entities should continue to focus on areas where private investment is limited, market failures exist, or where they can play a catalytic role in attracting private capital, rather than potentially displacing domestic and foreign investors.  Industrial Policies should have clear exit criteria, claw-back mechanisms, and sunset clauses, to ensure they do not remain in place beyond their intended objective.

    **************************

    The mission team would like to thank the Saudi Arabian authorities and the people they met outside the government sector for their close collaboration, candid and informative discussions, and warm hospitality.

    [1] Numbers referred in percent of GDP are based on the authorities’ new rebasing GDP published in May 2025. The new methodological update is generally consistent with international best practices and the UN’s system of national accounts,

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Wafa Amr

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

    https://www.imf.org/en/News/Articles/2025/06/25/saudi-arabia-concluding-statement-of-the-2025-article-iv-mission

    MIL OSI

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  • MIL-OSI USA: UConn Health Recognized for Responsible Antibiotic Use

    Source: US State of Connecticut

    A commitment to responsible use of antibiotics earns UConn Health’s John Dempsey Hospital the designation of “Antimicrobial Stewardship Center of Excellence” from the Infectious Diseases Society of America.

    Certificate from the Infectious Diseases Society of America

    With this designation, the IDSA recognizes institutions that have established stewardship programs, led by infectious diseases physicians and pharmacists, to advance science in antimicrobial resistance, and that have surpassed high standards aligned with evidence-based national guidelines.

    “Evolving antimicrobial resistance patterns and the introduction of new therapeutics have made antibiotic prescribing more challenging than ever,” says Kevin Chamberlin, UConn Health’s chief pharmacy officer. “This Center of Excellence designation is a testament to the sound antimicrobial stewardship we practice that protects our limited options for our most vulnerable patients.”

    John Dempsey Hospital is one of four hospitals in Connecticut designated as an Antimicrobial Stewardship Center of Excellence, and among fewer than 200 hospitals in the world that have earned the distinction since the ISDA started this program in 2017.

    Core criteria include implementation of stewardship protocols by integrating best practices to slow the emergency of resistance, optimize the treatment of infections, reduce adverse events associated with antibiotic use, and address other challenging areas of antimicrobial stewardship.

    “This shows that we are using multidisciplinary collaboration to ensure that we’re using antibiotics in the most quality way and optimizing those antibiotics across care, both on the inpatient and outpatient side,” says Gillian Kuszewski ’03 (PHARM), ’05 Pharm.D., university director of UConn Health’s pharmacy residency programs.

    Kuszewski co-leads UConn Health’s antibiotic stewardship program with Dr. David Banach ’06 MD, MPH, infectious diseases physician and UConn Health’s hospital epidemiologist, and Jeffrey Aeschlimann ’93 (PHARM), a UConn School of Pharmacy faculty member and clinician in UConn Health’s pharmacy practice.

    From left: Dr. David Banach, Gillian Kuszewski, and Jeffrey Aeschlimann lead UConn Health’s antibiotic stewardship program. (Photo by Chris DeFrancesco, UConn Health)

    “Antibiotic stewardship is a global health priority,” Banach says. “The goal of using the right antibiotic for the right patient at the right time for the right duration is really becoming recognized as a key public health measure, both for reducing resistance and also reducing antibiotic-associated side effects and adverse events like C. diff.”

    C. diff, or Clostridioides difficile infection, is one of the most common health care-associated infections. It is highly contagious and difficult to treat.

    “One of the important things the stewardship program does is minimize unnecessary use of broad-spectrum antibiotics, which has been shown to also decrease C. diff rates in hospitals and health care settings,” Aeschlimann says.

    While this is the first time UConn Health has applied for this ISDA designation, antimicrobial stewardship has been a priority going back more than a decade, predating regulatory requirements. Aeschlimann and Dr. Kevin Dieckhaus, who today is chief of UConn Health’s Division of Infectious Diseases, started the antibiotic stewardship committee in 2013. Since then, it has grown to include representation from throughout the institution, including microbiology lab professionals, nurses, pharmacists, physicians, informatics specialists, infection preventionists, and students, residents and fellows.

    “We’ve always been doing these things along the way, and we felt now was the right time to sit down and formally submit an application,” Kuszewski says. “We’ve always done extremely well with our program when regulatory bodies like the Joint Commission come to visit. From a regulatory perspective, we’ve consistently received really good feedback from them on our antimicrobial stewardship activities.”

    She says the committee has established protocols, policies, and workflows to guide and support front-line providers in making the best choices.

    “We’ve supported, for example, processes to make sure that even after the patient leaves the emergency department, they’re on the right antibiotic based on follow-up information that we get from cultures,” Kuszewski says.

    “We have the collaborations between those who prescribe antibiotics and those who have expertise to offer and help support optimal prescribing,” Banach says.

    And the committee’s guidance has made its way into the electronic health record system to provide an additional resource for prescribers.

    “We try to develop either order sets or clinical pathways or popups, whatever we think might work best, to guide clinicians to pick the right antibiotic choice,” Aeschlimann says.

    Another strategy is to prioritize documentation of allergies to help inform prescribing decisions.

    “They can choose an antibiotic with the least risk of a negative outcome,” Kuszewski says. “Penicillin allergy documentation often leads to unnecessary use of certain antibiotics that come with greater risks. Perhaps a penicillin might cause some temporary stomach upset for a patient and is not really a true allergy. Clarifying this documentation in a patient’s medical record can help providers determine which antibiotic carries the least risk in treating an infection.”

    Kuszewski notes that UConn Health leadership has been supportive of the antimicrobial stewardship efforts since the beginning.

    “Not only are we following standards, but we’re also seeing better outcomes,” she says. “We also have results that show that we’re using less broad-spectrum antibiotics than what we’re expected to use, and our C. diff rates are down. The outcomes are actually tangible. It’s not just what we say we’re doing, but we’re seeing good results.”

    MIL OSI USA News –

  • MIL-OSI USA: Making Electronic Devices Faster, More Powerful, and Better at Staying Cool

    Source: US State of Connecticut

    When electronic devices overheat, they can slow down, malfunction, or stop working altogether. This heat is mainly caused by energy lost as electrons move through a material—similar to friction in a moving machine.

    Most devices today use silicon (Si) as their semiconductor material. However, engineers are increasingly turning to alternatives like gallium nitride (GaN) for longer lifetime use and higher performance. This includes products such as LEDs, compact laptop chargers, and 5G phone networks. For even more extreme applications—such as high-voltage systems or harsh environments—researchers are exploring ultrawide bandgap (UWBG) materials like gallium oxide (Ga2O3), aluminum gallium nitride (AlGaN), and even diamond.

    Pictured in center, Georges Pavlidis, assistant professor of mechanical engineering, and School of Mechanical, Aerospace, and Manufacturing Engineering Ph.D. candidates Francis Vásquez, at left, and Dominic Myren, are co-authors of a “Perspectives” paper published in Applied Physics Letters. Together, they’re exploring thermal management strategies in ultra side bandgap semiconductor devices. (Sarah Richmond/UConn Photo)

    The key difference between these materials lies in their electronic bandgap—the energy needed to get electrons to flow through the material. Wider bandgaps allow companies to reduce the size of their electronics and make them more electrically efficient.

    “UWBG materials can resist up to 8,000 volts and can operate at temperatures over 200 °C (392°F), making them promising for the next generation of electronics in the energy, health, and communication sectors,” explains Georges Pavlidis, assistant professor of mechanical engineering.

    While these materials offer promising advantages, they also come with challenges. They’re currently expensive, difficult to manufacture, and their thermal behavior is hard to measure precisely. As electronics become more powerful and in smaller dimensions, the heating in the device becomes more localized and can generate a heat flux greater than the sun, Pavlidis explains.

    “Chip manufacturers need new methods to measure temperature in smaller dimensions,” he says.

    Pavlidis, along with UConn’s School of Mechanical, Aerospace, and Manufacturing Engineering Ph.D. candidates Dominic Myren and Francis Vásquez, collaborated with colleagues from the U.S. Naval Research Laboratory over the past year to tackle the challenge of measuring the heat output. Their work resulted in a “Perspectives” paper published in Applied Physics Letters.

    “A ‘Perspectives’ paper is intended to be an outline of what’s coming soon, get people excited about what’s coming, and encourage other researchers to start looking into similar topics,” says Myren, a National Defense Science and Engineering Graduate Fellow who has seven years of industrial R&D experience in fuel systems, internal combustion, and engine controls and holds patents related to electromagnetic actuators and engine controls. “The push right now is for the development of thermal management strategies in wide and ultra-wide bandgap semiconductor devices. We have a lot of open questions, and we’re working hard on them over in Dr. Pavlidis’ lab, but the cross pollination of ideas is how academic circles thrive.”

    Titled “Emerging Thermal Metrology for Ultrawide Bandgap Semiconductor Devices,” the co-authors discuss the pros and cons of using UWBG material for semiconductors, and outline several innovative techniques for measuring temperature at the microscale. These methods could help engineers design faster, more powerful electronic devices—without the risk of overheating.

    After the paper ran online in late May, the co-authors received an unexpected note from the editors at Applied Physics Letters. “[We] felt that your article is noteworthy, and have chosen it to be promoted as an Editor’s Pick. It will be posted on the journal homepage, and a badge will be displayed next to the title.”

    “It is no small feat for a publication to be chosen as an Editor’s Pick in the highly regarded Applied Physics Letters that publishes more than 2,000 articles a year,” says JC Zhao, dean of the UConn College of Engineering. “I congratulate Professor Pavlidis and his group on this recognition and I am very proud of their accomplishment.”

    Members of the Pavlidis Lab prepare to measure the heat produced by a GaN-on-diamond transistor. This advanced semiconductor technology combines gallium nitride (GaN) with a diamond substrate to improve thermal management in electronic devices. “We shine light through the microscope and it reflects off the sample and travels up to the camera. That’s how we measure temperature,” Pavlidis explains. (Sarah Richmond/UConn Photo)

    Vásquez’s particular research interests are thermal management for high-power and radio-frequency (RF) power electronics. In Pavlidis’s lab, he enjoys the combination of research and meaningful application where the group solves real challenges in electronics and photonics that directly impact energy efficiency, reliability, and performance.

    “What makes the experience truly special is the lab culture,” Vásquez says. “Professor Pavlidis is incredibly supportive and patient, especially when we hit difficult knowledge to explain, and he always encourages us to stay curious. His approach pushes us to explore new ideas, test them rigorously, and think about how our work can translate into real-world innovations. It’s that mix of intellectual freedom and high standards to make an impact that keeps me excited every day in the lab.”

    In the paper, the researchers explore several options to measure temperature in UWBG devices. They suggest using optical methods like Raman spectroscopy and thermoreflectance, which use light to measure temperature dependent properties. Electrical methods use electric signals to detect temperature, and scanning probe methods, like scanning thermal microscopy, touch the surface to feel the heat.

    The researchers also describe exciting new ideas, like combining thermal images created from different colors of light to see heat in nitride-based devices, or measuring how light is absorbed in material defects to calculate the temperature in gallium oxide electronics. They’re even working on a new kind of microscope that can see very tiny heat patterns using deep ultraviolet light.

    “These proposed methods provide a solution to measuring the peak temperature in future electronics which is the primary indicator of when the device will fail. Providing the industry with accurate metrology will lower the barrier to commercialization and enable engineers to develop new thermal management strategies,” Pavlidis says.

    The group’s research is supported by Microelectronics Commons, a program specifically created to commercialize UWBG devices for power electronics. The Commons program established the Northeast Microelectronics Coalition Hub, a network of more than 200 organizations, academic institutions, commercial and defense companies, and federally funded centers concentrated in eight northeast states. The idea for the paper stemmed from a project Pavlidis worked on last summer as an Office of Naval Research Fellow.

    Moving forward, Pavlidis—who was promoted to a Senior Member of Institute of Electrical and Electronics Engineers (IEEE) this month—aims to work with semiconductor partners in developing affordable strategies to reduce the temperature in power electronics. By pushing the resolution limits of temperature measurements, the lab plans to extend their methods to improve other technologies such as quantum computing and photonic circuits. They’ve already worked with colleagues at the University of Maryland to design photonic hardware for next-generation data storage. (View the study in this May 2025 Nature Conversations paper.)

    “We hope our work has laid the foundation for the thermal design of the next generation of UWBG devices,” Pavlidis says.

    MIL OSI USA News –

  • MIL-OSI USA: Science in Seconds: Eating Away at Disease

    Source: US State of Connecticut

    Groups of cells called phagocytes are like the clean-up crews of our body – eating and clearing away debris or foreign particles. UConn Health immunologist Kai Li has developed a unique system called PhagoPL to capture and study how phagocytes feel, taste, digest and respond to their “meal.” Understanding this process is relevant to developing treatments for many diseases, such as lupus, sepsis or cancer.

    MIL OSI USA News –

  • MIL-OSI: Reliance Global Group Highlights Strong Q1 Results from Spetner Associates

    Source: GlobeNewswire (MIL-OSI)

    LAKEWOOD, NJ, June 26, 2025 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (Nasdaq: RELI) (“Reliance,” “we,” “us,” “our” or the “Company”) today highlighted the strong preliminary unaudited financial results of Spetner Associates, Inc. (“Spetner”) for the first quarter ended March 31, 2025. As previously announced, Reliance has entered into a definitive agreement to acquire Spetner, and the transaction continues to advance toward closing.

    Spetner’s Q1 2025 Financial Highlights (Unaudited):

    • Revenue increased by more than 95% year-over-year to approximately $5.16 million, compared with $2.64 million in Q1 2024.
    • Operating income margin grew by 29% year-over-year to 74% from 46% in Q1 2024.
    • Net income grew by 220% to approximately $2.98 million, more than triple the approximately $0.9 million reported for Q1 2024.
    • Cash flows from operating activities increased by 112% to $2.6 million, more than double the $1.2 million generated in Q1 2024.

    Ezra Beyman, CEO of Reliance Global Group, commented, “We’re thrilled with Spetner’s impressive first quarter results, illustrating full alignment with our strategy of acquiring and integrating high-performing cash-generating synergistic insurance distribution platforms. Combined with Reliance’s scalable operating model and technology-driven platform, the combined organization will be well positioned to generate consistent significant profits, returns and cash flows.”

    About Reliance Global Group, Inc.

    Reliance Global Group, Inc. (NASDAQ: RELI) is an InsurTech pioneer, leveraging artificial intelligence (AI), and cloud-based technologies, to transform and improve efficiencies in the insurance agency/brokerage industry. The Company’s business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies an entire suite of business development tools, enabling them to effectively compete with large-scale national insurance agencies, whilst reducing back-office cost and burden. The Company’s business-to-consumer platform, 5minuteinsure.com, utilizes AI and data mining, to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance.  In addition, the Company operates its own portfolio of select retail “brick and mortar” insurance agencies which are leaders and pioneers in their respective regions throughout the United States, offering a wide variety of insurance products. Further information about the Company can be found at https://www.relianceglobalgroup.com.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by terminology such as “may,” “should,” “could,” “would,” “will,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “continue,” “potential,” and similar expressions. Forward-looking statements in this press release include, without limitation, statements regarding:

    • Our expectation that the acquisition of Spetner Associates, Inc. will close as planned or at all and continue to advance toward completion, including obtaining any necessary regulatory or shareholder approvals;
    • Our objective to acquire and integrate high-performing, cash-generating synergistic insurance distribution platforms that align with our scalable, technology-driven model to drive shareholder value;
    • Our intention to pursue disciplined, accretive growth opportunities across the InsurTech and insurance agency sectors; and
    • Other statements regarding our plans, strategies, expectations and intentions concerning future operations, financial performance, and service offerings of either us, Spetner or the potentially combined company thereof.

    These forward-looking statements are based on a number of assumptions, including the assumptions that: the LOI will not be terminated prior to execution of definitive purchase agreements; due diligence and documentation negotiations will proceed without material adverse findings; the Fortman sale and the Spetner acquisition will both close as expected; our revenue and EBITDA projections for Spetner are attainable; integration risks will be managed successfully; and there will be no material adverse changes in market, economic or regulatory conditions affecting our businesses. There can be no assurance that any of these assumptions will prove correct.

    There are numerous risks and uncertainties that may cause actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These include, among others: the risk that the Fortman buyer may withdraw or renegotiate the terms of the LOI; delays or failure to complete either the Fortman sale or the Spetner acquisition; unanticipated liabilities or integration challenges in connection with Spetner; our inability to realize the projected revenue or EBITDA benefits; competition in the InsurTech and agency brokerage industry; changes in insurance regulation or Nasdaq listing requirements; general economic or financial market conditions; and the other risks and uncertainties described in the “Risk Factors” section of our Registration Statement on Form S-1 and our periodic reports filed with the Securities and Exchange Commission.

    You should carefully review our Annual Report on Form 10-K for the year ended December 31, 2024, as amended, and the other reports we have filed or will file with the SEC for a more complete discussion of risks and uncertainties. tExcept as required by law, Reliance Global Group, Inc. disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Crescendo Communications, LLC
    Tel: +1 (212) 671-1020
    Email: RELI@crescendo-ir.com 

    The MIL Network –

  • MIL-OSI: KraneShares KOID ETF: Humanoid Robot Rings Nasdaq Opening Bell

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 26, 2025 (GLOBE NEWSWIRE) — Krane Funds Advisors, LLC (“KraneShares”), a global asset management firm recognized for its innovative investment solutions, celebrated the launch of the KraneShares Global Humanoid and Embodied Intelligence Index ETF (Ticker: KOID). The historic event featured the first-ever humanoid robot to ring the iconic Nasdaq Opening Bell.

    “We are thrilled to bring the first humanoid to ring the opening bell at Nasdaq to celebrate our Global Humanoid ETF: KOID,” said Jonathan Krane, CEO of KraneShares. “This event is a testament to the rapid advancements in robotics and artificial intelligence that could transform our world.”

    Humanoid robots are already demonstrating impressive performance in human tasks in both factory and home settings. The Morgan Stanley Global Humanoid Model projects that there could be 1 billion humanoids and $5 trillion in annual revenue by 2050.1

    “Today’s historic bell ringing by a humanoid robot marks a new era for investing in robotics and AI,” said Giang Bui, Head of Equities and ETFs at Nasdaq. “Nasdaq is proud to support KraneShares and the launch of KOID as we celebrate innovation at the heart of global finance.”

    The humanoid robot featured in the bell-ringing ceremony is the Unitree G1 Ultimate, supplied by RoboStore, the official partner of Unitree. RoboStore has been collaborating with Unitree for several years to drive the distribution and development of robotics within the U.S. education system.

    “Robotics, especially humanoids, are on the verge of widespread adoption. The people accelerating this shift include educators and research teams like OpenMind, a Stanford-based group developing open-source robotics software,” said Teddy Haggerty, a representative from RoboStore. “Our goal at RoboStore is to get this technology into the hands of major universities, empowering the next generation of innovators.”

    RoboStore and OpenMind jointly customized the robot, named “Iris,” for the occasion. Iris runs on OM1, OpenMind’s open-source operating system for embodied artificial intelligence, demonstrating advanced autonomy and human interaction. OM1 is set to be integrated into educational curricula nationwide through RoboStore’s programs.

    The Nasdaq Opening Bell Ringing by a Humanoid Robot was a first for the exchange and a testament to the growing impact of robotics across industries.

    For more information on the KraneShares Global Humanoid and Embodied Intelligence Index ETF (Ticker: KOID), please visit https://kraneshares.com/koid or consult your financial advisor.

    About KraneShares

    KraneShares is a specialist investment manager focused on China, Climate, and Alternatives. KraneShares seeks to provide innovative, high-conviction, and first-to-market strategies based on the firm and its partners’ deep investing knowledge. KraneShares identifies and delivers groundbreaking capital market opportunities and believes investors should have cost-effective and transparent tools for attaining exposure to various asset classes. The firm was founded in 2013 and serves institutions and financial professionals globally. The firm is a signatory of the United Nations-supported Principles for Responsible Investment (UN PRI).

    Citations:

    1. “Humanoids: 1bn Robots and $5tn Revenues by 2050, China is in Pole Position” Morgan Stanley Research, 4/28/2025.

    Carefully consider the Funds’ investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Funds’ full and summary prospectus, which may be obtained by visiting www.kraneshares.com/koid. Read the prospectus carefully before investing.

    Risk Disclosures:

    Investing involves risk, including possible loss of principal. There can be no assurance that a Fund will achieve its stated objectives. Indices are unmanaged and do not include the effect of fees. One cannot invest directly in an index.

    This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change. Certain content represents an assessment of the market environment at a specific time and is not intended to be a forecast of future events or a guarantee of future results; material is as of the dates noted and is subject to change without notice.

    The Fund may invest in derivatives, which are often more volatile than other investments and may magnify the Fund’s gains or losses. A derivative (i.e., futures/forward contracts, swaps, and options) is a contract that derives its value from the performance of an underlying asset. The primary risk of derivatives is that changes in the asset’s market value and the derivative may not be proportionate, and some derivatives can have the potential for unlimited losses. Derivatives are also subject to liquidity and counterparty risk. The Fund is subject to liquidity risk, meaning that certain investments may become difficult to purchase or sell at a reasonable time and price. If a transaction for these securities is large, it may not be possible to initiate, which may cause the Fund to suffer losses. Counterparty risk is the risk of loss in the event that the counterparty to an agreement fails to make required payments or otherwise comply with the terms of the derivative.

    AI-exposed companies face profitability challenges due to high research costs, competition, IP reliance, and regulatory risk. Product failures or safety concerns could be detrimental. Identifying AI companies accurately is complex. Tech firms face risks of product failure, obsolescence, regulatory impact, and uncertain profitability due to technological advancements and government policies. Certain tech investments may lack current profitability and future success is uncertain. The Fund is subject to non-U.S. issuers risk, which may be less liquid than investments in U.S. issuers, may have less governmental regulation and oversight, are typically subject to different investor protection standards than U.S. issuers, and the economic instability of the non-U.S. countries. Fluctuations in currency of foreign countries may have an adverse effect to domestic currency values. The Fund may invest in Initial Public Offerings (IPOs). Securities issued in IPOs have no trading history, and information about the companies may be available for very limited periods. In addition, the prices of securities sold in IPOs may be highly volatile. In addition, as the Fund increases in size, the impact of IPOs on the Fund’s performance will generally decrease.

    Neither MerQube, Inc. nor any of its affiliates (collectively, “MerQube”) is the issuer or producer of KraneShares Global Humanoid & Embodied Intelligence Index ETF (the “Fund”) and MerQube has no duties, responsibilities, or obligations to investors in The Fund. The index underlying the The Fund is a product of MerQube and has been licensed for use by Krane Funds Advisors, LLC and its affiliates. Such index is calculated using, among other things, market data or other information (“Input Data”) from one or more sources (each a “Data Provider”). MerQube® is a registered trademark of MerQube, Inc. These trademarks have been licensed for certain purposes by Krane Funds Advisors, LLC and its affiliates in its capacity as the issuer of the The Fund. The Fund is not sponsored, endorsed, sold or promoted by MerQube, any Data Provider, or any other third party, and none of such parties make any representation regarding the advisability of investing in securities generally or in The Fund particularly, nor do they have any liability for any errors, omissions, or interruptions of the Input Data, MerQube Global Humanoid and Embodied Intelligence Index, or any associated data. Neither MerQube nor the Data Providers make any representation or warranty, express or implied, to the owners of the shares of The Fund or to any member of the public, of any kind, including regarding the ability of the MerQube Global Humanoid and Embodied Intelligence Index to track market performance or any asset class. The MerQube Global Humanoid and Embodied Intelligence Index is determined, composed and calculated by MerQube without regard to Krane Funds Advisors, LLC and its affiliates or the The Fund. MerQube and Data Providers have no obligation to take the needs of Krane Funds Advisors, LLC and its affiliates or the owners of The Fund into consideration in determining, composing or calculating the MerQube Global Humanoid and Embodied Intelligence Index. Neither MerQube nor any Data Provider is responsible for and have not participated in the determination of the prices or amount of The Fund or the timing of the issuance or sale of The Fund or in the determination or calculation of the equation by which The Fund is to be converted into cash, surrendered or redeemed, as the case may be. MerQube and Data Providers have no obligation or liability in connection with the administration, marketing or trading of The Fund. There is no assurance that investment products based on the MerQube Global Humanoid and Embodied Intelligence Index will accurately track index performance or provide positive investment returns. MerQube is not an investment advisor. Inclusion of a security within an index is not a recommendation by MerQube to buy, sell, or hold such security, nor is it considered to be investment advice.

    NEITHER MERQUBE NOR ANY OTHER DATA PROVIDER GUARANTEES THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE MERQUBE GLOBAL HUMANOID AND EMBODIED INTELLIGENCE INDEX OR ANY DATA RELATED THERETO (INCLUDING DATA INPUTS) OR ANY COMMUNICATION WITH RESPECT THERETO. NEITHER MERQUBE NOR ANY OTHER DATA PROVIDERS SHALL BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. MERQUBE AND ITS DATA PROVIDERS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND THEY EXPRESSLY DISCLAIM ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY KRANE FUNDS ADVISORS, LLC AND ITS AFFILIATES, OWNERS OF THE THE FUND, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE MERQUBE GLOBAL HUMANOID AND EMBODIED INTELLIGENCE INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL MERQUBE OR DATA PROVIDERS BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THE FOREGOING REFERENCES TO “MERQUBE” AND/OR “DATA PROVIDER” SHALL BE CONSTRUED TO INCLUDE ANY AND ALL SERVICE PROVIDERS, CONTRACTORS, EMPLOYEES, AGENTS, AND AUTHORIZED REPRESENTATIVES OF THE REFERENCED PARTY.

    Large capitalization companies may struggle to adapt fast, impacting their growth compared to smaller firms, especially in expansive times. This could result in lower stock returns than investing in smaller and mid-sized companies. In addition to the normal risks associated with investing, investments in smaller companies typically exhibit higher volatility. The Fund is new and does not yet have a significant number of shares outstanding. If the Fund does not grow in size, it will be at greater risk than larger funds of wider bid-ask spreads for its shares, trading at a greater premium or discount to NAV, liquidation and/or a trading halt. Narrowly focused investments typically exhibit higher volatility. The Fund’s assets are expected to be concentrated in a sector, industry, market, or group of concentrations to the extent that the Underlying Index has such concentrations. The securities or futures in that concentration could react similarly to market developments. Thus, the Fund is subject to loss due to adverse occurrences that affect that concentration.

    A large number of shares of the Fund are held by a single shareholder or a small group of shareholders. Redemptions from these shareholders can harm Fund performance, especially in declining markets, leading to forced sales at disadvantageous prices, increased costs, and adverse tax effects for remaining shareholders. KOID is non-diversified.

    ETF shares are bought and sold on an exchange at market price (not NAV) and are not individually redeemed from the Fund. However, shares may be redeemed at NAV directly by certain authorized broker-dealers (Authorized Participants) in very large creation/redemption units. The returns shown do not represent the returns you would receive if you traded shares at other times. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns. Beginning 12/23/2020, market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates the current NAV per share. Prior to that date, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of 4:00 PM Eastern Time.

    The KraneShares ETFs and KFA Funds ETFs are distributed by SEI Investments Distribution Company (SIDCO), 1 Freedom Valley Drive, Oaks, PA 19456, which is not affiliated with Krane Funds Advisors, LLC, the Investment Adviser for the Funds, or any sub-advisers for the Funds.

    Contact:
    KraneShares Investor Relations
    info@kraneshares.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ceb61dcd-df25-411a-a2fb-a19d618441cc

    The MIL Network –

  • MIL-OSI: 3D Systems Advances Regenerative Medical Solutions for First-of-its-Kind Peripheral Nerve Repair

    Source: GlobeNewswire (MIL-OSI)

    • Collaboration with French MedTech company, TISSIUM, has resulted in FDA approval for unique 3D-printed polymeric solution for repair of peripheral nerve damage
    • 3D Systems’ bioprinting system enabled production of a 3D-printed bioabsorbable medical device leveraging TISSIUM’s proprietary biomorphic programable polymers—a major industry milestone that sets new standard for high resolution elastomeric 3D-printed medical implants
    • Builds on 3D Systems’ pioneering work to develop additive manufacturing solutions for regenerative medicine applications
    • 3D Systems’ solutions accelerating additive manufacturing use in bioprinting—total market anticipated to reach more than $2 billion by end of 2029

    ROCK HILL, South Carolina, June 26, 2025 (GLOBE NEWSWIRE) — Today, 3D Systems (NYSE: DDD) announced that its 3D bioprinting technologies have enabled FDA approval for the regenerative repair of peripheral nerve damage. For the last several years, 3D Systems has partnered with TISSIUM, a French MedTech company that is a pioneer in the development of biomorphic programmable polymers for tissue reconstruction, to develop a bespoke 3D printing solution for the repair of damaged peripheral nerves. Combining TISSIUM’s expertise and proprietary biomorphic programable polymers with 3D Systems’ ground-breaking regenerative medicine bioprinting technologies has resulted in the successful development of a fully bioabsorbable 3D-printed medical device for nerve repair utilizing a unique photopolymer. This device, called COAPTIUM® CONNECT with TISSIUM Light, is a first-of-its-kind, atraumatic, sutureless solution for the repair of peripheral nerves. Earlier this week, TISSIUM announced that the U.S. Food and Drug Administration (FDA) has granted De Novo marketing authorization for this solution. This milestone validates the polymer’s clinical potential and paves the way for its use across a broad spectrum of transformative applications. Its unique polymer characteristics enable the production of high-resolution, elastomeric biodegradable implants that are unique in the industry.

    “This is a significant advancement in patient care,” said Scott Turner, vice president, advanced systems, 3D Systems. “It has been tremendously rewarding to work alongside the talented team at TISSIUM to design a complete 3D bioprinted solution that offers the potential for patients to recover from peripheral nerve damage. I truly believe this will redefine treatment paradigms and offer hope to individuals that have suffered from the effects of nerve damage in regaining their quality of life.”

    This milestone is yet another proof point of 3D Systems’ nearly decade-long leadership position in bioprinting. In 2017, 3D Systems entered into a joint development program with United Therapeutics Corporation, the goal of which is to establish an unlimited supply of human lungs, requiring no immunosuppression, allowing all patients with end-stage lung disease to receive transplants which will enable them to enjoy long and active lives. 3D Systems has focused primarily on establishing the 3D printing technology to produce scaffolds meeting the extreme precision and resolution requirements for a functional human lung and to do so in a manner that yields the physical, mechanical, and biocompatibility performance to influence cell behavior and reproduction required for extended use in the human body. Its Print to Perfusion™ process enables 3D printing of high-resolution scaffolds, which can be perfused with living cells to create tissues. Through the combination of bioprinting technology, biocompatible 3D printing materials, and a broad range of cell types including patient-derived cells, the Company’s biomedical engineers can construct patient-specific living tissues.

    “Over the past several years, we have made phenomenal progress building upon Chuck Hull’s invention of 3D printing, and pushing its capabilities into new frontiers,” said Dr. Jeffrey Graves, president & CEO, 3D Systems. “Whether in our medical device business through the production of patient-specific implants and surgical solutions, or through the work our regenerative medicine team is doing, 3D Systems is making a profound impact not only on how healthcare is delivered, but on the quality of patients’ lives, and continues to solidify what I believe is an unparalleled role we play in advancing medicine with additive manufacturing applications. This latest accomplishment by TISSIUM, enabled by our unique 3D printing technology, is one more example of how 3D Systems is transforming patient care for a better future.”

    According to Markets and Markets1, the global 3D bioprinting market was valued at $1.3 billion in 2024, and is expected to reach $2.4 billion in 2029. Nearly 40 years ago, 3D Systems created the innovation of 3D printing and reimagined the approaches and processes for product development, parts manufacturing, and personalized healthcare through additive manufacturing solutions. The Company’s additive manufacturing solutions are transforming how healthcare is delivered. As a pioneer in personalized healthcare solutions, 3D Systems has worked with surgeons for over a decade to plan more than 150,000 patient-specific cases and additively manufacture more than two million implants and instruments for 100+ CE-marked and FDA-cleared devices from its world-class, FDA-registered, ISO 13485-certified facilities in Littleton, Colorado, and Leuven, Belgium. 3D Systems is leveraging this experience to innovate bioprinting technologies to transform patient care. By enabling the fabrication of living tissues, the Company believes its bioprinting technology will unlock the promise and potential — to develop new therapeutics, and to improve patient lives.

    Forward-Looking Statements
    Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by terms such as “believes,” “belief,” “expects,” “may,” “will,” “estimates,” “intends,” “anticipates” or “plans” or the negative of these terms or other comparable terminology. Forward-looking statements are based upon management’s beliefs, assumptions, and current expectations and may include comments as to the company’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings “Forward-Looking Statements” and “Risk Factors” in the company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved. The forward-looking statements included are made only as of the date of the statement. 3D Systems undertakes no obligation to update or review any forward-looking statements made by management or on its behalf, whether as a result of future developments, subsequent events or circumstances or otherwise, except as required by law.

    About 3D Systems
    For nearly 40 years, Chuck Hull’s curiosity and desire to improve the way products were designed and manufactured gave birth to 3D printing, 3D Systems, and the additive manufacturing industry. Since then, that same spark continues to ignite the 3D Systems team as we work side-by-side with our customers to change the way industries innovate. As a full-service solutions partner, we deliver industry-leading 3D printing technologies, materials and software to high-value markets such as medical and dental; aerospace, space and defense; transportation and motorsports; AI infrastructure; and durable goods. Each application-specific solution is powered by the expertise and passion of our employees who endeavor to achieve our shared goal of Transforming Manufacturing for a Better Future. More information on the company is available at www.3dsystems.com.

    Investor Contact: investor.relations@3dsystems.com
    Media Contact: press@3dsystems.com

    1 Markets and Markets, 3D Bioprinting Market: Growth, Size, Share, and Trends (May 2024).

    The MIL Network –

  • MIL-OSI: Increasing Adoption of Drones in Commercial Sectors Leading to a Revolution in Big Data Cloud Services

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., June 26, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The increasing adoption of drones in commercial sectors is leading to a revolution in big data cloud services. Launching a drone to capture images is the preliminary step in the drone information acquisition process. The captured images then require correction, calibration, processing, storage, and efficient evaluation. The increasing need to evaluate imagery is a key factor driving the adoption of drone imagery software and cloud-based applications, which possess the ability to upload, share, store, and process aerial images. Moreover, there has been a steep increase in the use of cloud-based in-memory computing platform amongst businesses as it accelerates analytics, processes, and predictive capabilities. The global drone data service market size is expected to reach USD 15.05 billion by 2030, expanding at a CAGR of 39.0% through 2030, according to a new report by Grand View Research, Inc. The growth can be attributed to the growing usage of information acquired by drones in operational and big data analytics. The increasing need for UAV imagery analysis is presumed to impact the global drone imagery processing software industry positively and add a new horizon in imagery storage technologies. The report said: “By gathering information on a larger scale, service providers can now process unprecedented levels of detailed information and turn it into actionable information. UAV companies, such as PrecisionHawk, are transforming their business processes to enhance their focus on drone data processing rather than UAV manufacturing.” Active Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), Draganfly Inc. (NASDAQ: DPRO), Safe Pro Group Inc. (NASDAQ: SPAI), Teledyne Technologies Incorporated (NYSE: TDY), and AgEagle Aerial Systems Inc. (NYSE: UAVS).

    The article continued: The global drone data service market size is expected to reach USD 15.05 billion by 2030, expanding at a CAGR of 39.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth can be attributed to the growing usage of information acquired by drones in operational and big data analytics. The increasing need for UAV imagery analysis is presumed to impact the global drone imagery processing software industry positively and add a new horizon in imagery storage technologies. The increasing adoption of drones in commercial sectors is leading to a revolution in big data cloud services. Launching a drone to capture images is the preliminary step in the drone information acquisition process. The captured images then require correction, calibration, processing, storage, and efficient evaluation.

    ZenaTech (NASDAQ:ZENA) Signs Offer to Acquire North Carolina Land Surveying Company to Expand State Operations and Government Customers – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drone, Drone as a Service (DaaS), enterprise SaaS, announces it has signed an offer to acquire a well-established North Carolina-based land surveying company with a strong government customer base. The proposed acquisition expands operations in the state when combined with a previously announced proposed land survey acquisition with operations in North Carolina. With over three decades of success serving government agencies, municipal governments, construction companies, and real estate developers, this strategic acquisition would significantly advance the company’s regional market penetration as well as growth in the US Southeast.

    “This proposed acquisition aligns with our strategy to build a robust, scalable, national Drone as a Service business while empowering strong regional and local hubs and recurring revenue opportunities,” said Shaun Passley, Ph.D., ZenaTech CEO. “We plan to embed AI-powered drone technology into critical land survey workflows providing unparalleled speed and precision. Land surveys are a first step to innovating multiple legacy businesses and inefficient processes with our DaaS model and our drones.”

    The land survey company offers comprehensive services include boundary surveys, topographic and site planning surveys, ALTA (American Land Title Association) / ACSM (American Congress on Surveying and Mapping) surveys, construction staking, and other essential survey solutions for permitting, financing, and construction across city, county, and commercial sectors.

    ZenaTech’s Drone as a Service (DaaS) business model offers both business and government customers reduced costs and convenience to utilize drones to streamline legacy processes and manual tasks such as inspections, surveying, maintenance, precision agriculture and inventory management , there is no need to purchase drone hardware and software, find a drone pilot, manage maintenance and operation, or acquire regulatory approvals. The model also offers scalability to use more often or less often based on business needs and utilizes ZenaDrone’s multifunction AI autonomous drones.

    The company has closed five acquisitions across the US to date as part of its DaaS business model and strategy and has announced it plans to complete 20 more acquisitions in the next 12 months. Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/

    Other recent developments in the markets include:

    TB2 Aerospace LLC, in collaboration with Draganfly Inc. (NASDAQ: DPRO), a drone solutions, and systems developer, recently said it is proud to announce the successful deployment and performance of the Drone Recharging Operational Payload System (DROPS) during the U.S. Army’s Sustainment Modernization Experiment 2025 (SMEX25).

    Throughout SMEX25’s week-long field exercises, the DROPS system, integrated with Draganfly’s Commander 3XL, achieved a 100% success rate in autonomously deploying, recovering, and recharging TB2’s tactical resupply pods. The event provided an opportunity to validate real-world operational performance in austere and high-demand scenarios, drawing praise from defence evaluators and technology observers alike.

    “The successful deployment of DROPS at SMEX25 underscores our commitment to advancing autonomous logistics solutions,” said Hank Scott, CEO of TB2 Aerospace. “Our system’s performance in a live operational environment validates its potential to revolutionize military tactical resupply and contested logistics.”

    Safe Pro Group Inc. (NASDAQ: SPAI), a leader in AI-powered security solutions, is honored to recently be featured in a recent investigative piece by Grist Magazine, titled “How 3 Years of War Have Ravaged Ukraine’s Forests, and the People Who Depend on Them.”

    Safe Pro AI is helping lead a critical technological response to one of the war’s deadliest and most enduring legacies: land mines and unexploded ordnance (UXO). Utilizing AI and drone-based remote sensing, Safe Pro is working alongside humanitarian organizations and government partners to rapidly detect, map, and facilitate the safer and more efficient removal of UXO. This technology can be especially valuable in areas where land mines have triggered catastrophic wildfires, endangering both people and the environment. According to a report published by the United Nations Economic Commission for Europe, Ukraine has experienced profound socio-economic disruption due to the conflict’s impact on key sectors including timber production with losses amounting to approximately €447.73 million. The primary damages involve the destruction of infrastructure, equipment, and substantial harm to protected natural areas, estimated at over €2.3 billion. Restoring this potential will require considerable effort and resources.

    Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSE: TDY) recently announced that its Black Hornet® 4 Personal Reconnaissance System has successfully completed the required NDAA and cyber security verification process and been approved for the Blue UAS List with an Authority to Operate.

    Led by the Defense Innovation Unit (DIU), Blue UAS vets and verifies commercial drone technology for the Department of Defense and U.S. government. The Blue UAS List gives users access to a wide range of drone systems that can meet their diverse needs. In February, Teledyne FLIR announced that Black Hornet 4 was selected by DoD operators from among more than 35 uncrewed aerial system (UAS) products, all rigorously tested during DIU’s ‘Blue UAS Refresh’ event.

    “We are honored to see Black Hornet 4 added to the Blue UAS List, knowing that more operators across our military and federal government will be able to benefit from this one-of-a-kind drone and its distinct capabilities,” said Dr. JihFen Lei, president of Teledyne FLIR Defense. “DIU is filling a critical national need in meeting mission requirements by executing a more expansive Blue UAS program, and we have valued our partnership with them throughout the verification process.”

    AgEagle Aerial Systems Inc. (NYSE: UAVS), a leading provider of advanced drone and aerial imaging solutions, recently announced the sale of two additional eBee X drones to South Korea, expanding the country’s installed base of AgEagle’s eBee drones to more than 100 units. This milestone strengthens AgEagle’s strategic partnership with South Korea and reinforces its position as a leader in the Asia-Pacific drone market.

    The eBee X, AgEagle’s flagship fixed-wing mapping drone, is engineered for high-precision geospatial data collection and is ideally suited for applications including surveying, mapping, and photogrammetry. This latest sale builds on a well-established fleet, further strengthening AgEagle’s reputation as a trusted provider of cutting-edge unmanned aerial systems.

    About FN Media Group:

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    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

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    SOURCE: FN Media Group

    The MIL Network –

  • MIL-OSI: VERB’s MARKET.live Tapped to Produce Walmart Livestream for Popular Wellness Brand BelliWelli

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, June 26, 2025 (GLOBE NEWSWIRE) — Verb Technology Company, Inc. (Nasdaq: VERB) (“VERB” or the “Company”), Transforming the Landscape of Social Commerce, Social Telehealth and Social Crowdfunding with MARKET.live; VANITYPrescribed; GoodGirlRx; and the GO FUND YOURSELF TV Show, today announced its MARKET.live division will produce and host a high-profile Walmart livestream shopping event for gut-health brand BelliWelli.

    The exclusive livestream will air on Walmart.com on Tuesday, July 1, 2025, at 4:00 PM PT, marking BelliWelli’s debut on the platform. The event will be broadcast live from MARKET.live Studios in Los Alamitos, California, utilizing MARKET’s full-service technical production team to deliver a premium livestream shopping experience.

    Katie Wilson, Founder and CEO of BelliWelli, tapped MARKET.live to work with TalkShop Live who has traditionally produced Walmart livestream shopping events. Ms. Wilson will appear live from the MARKET.live studios for the event.

    “We’ve worked with the MARKET.live team before and they always bring the energy, creativity, and technical excellence we need to execute big moments,” said Katie Wilson. “I couldn’t be more excited to bring our Walmart audience along for this exclusive launch — especially with a surprise mystery flavor!”

    “We’re thrilled to support BelliWelli’s Walmart launch by producing the top-tier livestream experience our MARKET.live studio team delivers,” said Rory J. Cutaia, CEO of VERB. “This event with Walmart and BelliWelli is just part of the unprecedented ongoing growth our business is currently experiencing and reinforces our position as the go-to destination for brands looking to scale through interactive video social commerce.”

    The event is part of a growing trend in retail, as major brands and retailers turn to livestream shopping to increase engagement and conversion rates, creating a more dynamic and personalized customer experience. 

    About VERB

    Verb Technology Company, Inc. (Nasdaq: VERB), is transforming the landscape of social commerce, social telehealth and social crowdfunding with MARKET.live, LyveCom, VANITYPrescribed, GoodGirlRx, and the GO FUND YOURSELF TV Show. The Company operates multiple business units, each of which leverages the Company’s social commerce technology and video marketing expertise.

    MARKET.live, together with recently acquired AI social commerce technology innovator LyveCom, is a multi-vendor, livestream social shopping platform that allows brands and merchants to deliver a true omnichannel livestream shopping experience across their own websites, apps, and social platforms. Advanced AI capabilities power real-time user-generated-content creation, automated video content repurposing for high conversion video ads, and AI-powered virtual live shopping hosts that are virtually indistinguishable from human hosts, capable of real-time audience engagement. Brands utilize the Company’s proprietary AI model trained on tens of thousands of video commerce interactions to automate content creation and intelligent tools designed to optimize merchandising strategies and increase conversion rates.

    GO FUND YOURSELF TV Show is a revolutionary interactive social crowd funding platform for public and private companies seeking broad-based exposure for their crowd-funded Regulation CF and Regulation A offerings. The platform combines a ground-breaking interactive national TV show with MARKET.live’s back-end capabilities allowing viewers to tap, scan or click on their screen to facilitate an investment, in real time, as they watch companies presenting before the show’s panel of “Titans”. Presenting companies that sell consumer products are able to offer their products directly to viewers during the show in real time through shoppable onscreen icons.

    VANITYPrescribed.com and GoodGirlRx.com are telehealth portals, intended to redefine telehealth by offering a seamless, digital-first experience that empowers individuals to take control of their healthcare needs. They were designed and developed to disrupt the traditional healthcare model by providing tailored healthcare solutions at affordable, fixed prices – without hidden fees, membership costs, or inflated pharmaceutical markups. GoodGirlRx.com, a partnership with Savannah Chrisley, a well-known lifestyle personality and advocate for health and wellness, offers customers access to convenient, no-hassle telehealth services and pharmaceuticals, including the new weight-loss drugs, with fixed pricing regardless of dosage, breaking away from the industry’s traditional model of excessive pricing and pharmaceutical gatekeeping. 

    The Company is headquartered in Las Vegas, NV and operates full-service production and creator studios in the Los Angeles, California vicinity.

    For more information, please visit: www.verb.tech 

    Follow VERB here: 
    Facebook: https://www.facebook.com/VerbTechCo 
    X: https://twitter.com/VerbTech_Co 
    LinkedIn: https://www.linkedin.com/company/verb-tech 
    YouTube: https://www.youtube.com/channel/UC0eCb_fwQlwEG3ywHDJ4_KQ 
    Sign up for E-mail Alerts here: https://ir.verb.tech/news-events/email-alerts

    FORWARD-LOOKING STATEMENTS
    Statements contained in this press release that are not statements of historical fact are forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, these forward-looking statements can be identified by words such as “anticipate,” “designed,” “expect,” “may,” “will,” “should” and other comparable terms. Forward-looking statements include statements regarding VERB’s intentions, beliefs, projections, outlook, analyses or current expectations and the other risk factors and other cautionary statements included in VERB’s Annual Report on Form 10-K for the year ended December 31, 2024, and its subsequent filings with the Securities and Exchange Commission, including subsequent periodic reports on Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. All forward-looking statements made in this press release speak only as of the date of this press release and are based on management’s assumptions and estimates as of such date. Except as required by law, VERB undertakes no obligation to update or revise forward-looking statements to reflect new information, future events, changed conditions or otherwise after the date of this press release.

    Investor Relations Contact: investors@verb.tech 
    Media Contact: info@verb.tech 

    The MIL Network –

  • MIL-OSI: Syncfusion® Drives AI-Powered Automation in Its Customer Support Platform, BoldDesk®

    Source: GlobeNewswire (MIL-OSI)

    RESEARCH TRIANGLE PARK, N.C., June 26, 2025 (GLOBE NEWSWIRE) — Syncfusion®, Inc., the enterprise technology provider of choice, today announced significant updates to BoldDesk®, its customer service and help desk ticketing platform. This release includes new, AI-driven automation features that shorten response time, reduce manual work, and give developers greater control over customer-support data.

    “BoldDesk began as an in-house project built by our own engineers to organize the daily support queue, and that personal experience shapes every iteration,” said Daniel Jebaraj, CEO of Syncfusion. “The latest enhancements focus on harnessing AI to do the busywork, while preserving the transparency, governance, and open-API flexibility support teams expect.”

    These enhancements advance the BoldDesk Team’s goal to leverage AI for everyday support tasks and streamline agent workflows without adding complexity. The release centers on three themes: action-oriented AI; frictionless ticketing; and unified, omnichannel data. New features include:

    • AI actions execute tasks for you: Copilot can cancel orders, update licenses, and call external APIs directly from a ticket or chat.
    • AI-suggested replies in notifications: The AI can insert a context-aware suggestion into the automatic email sent to customers when they submit a ticket.
    • Live chat speeds up conversations: AI-written summaries and subject lines and service-level agreement (SLA) timers help agents close chats faster.
    • Drag-and-drop ticket forms: Group fields, preview attachments, and share links so agents reach the correct info faster.
    • No-code workflows gain safeguards: New business-hour conditions and execution logs improve workflows. A new draft mode lets admins test automations before launch.
    • Deeper integrations: Two-way Salesforce sync, new voice apps, and ticket automerging bring omnichannel context into a single view.
    • Usage dashboards and new languages: AI-specific analytics, persistent layouts, and six additional UI languages show ROI and support global teams.

    In addition to these updates, BoldDesk continues to deliver its signature value: unlimited agents for a single flat fee, ticket resolutions up to three times faster than siloed inboxes, and a centralized workspace that scales with growing teams. BoldDesk customers can enable these new features today from the platform’s admin center. For more information, visit bolddesk.com.

    About Syncfusion, Inc.
    Headquartered in the technology hub of Research Triangle Park, N.C., Syncfusion, Inc.® delivers an award-winning ecosystem of developer control suites, embeddable BI platforms, and business software. Syncfusion was founded in 2001 with a single software component and a mission to support businesses of all sizes—from individual developers and start-ups to Fortune 500 enterprises. Though its pilot product, the Essential Studio® suite, has grown to over 1,900 developer controls, its mission remains the same. With offices in the U.S., India, and Kenya, Syncfusion prioritizes the customer experience by providing feature-rich solutions to help developers and enterprises solve complex problems, save money, and build high-performance, robust applications.

    Contact: Brittany Kearns
    Phone: 571-271-7211
    Email: brittany@crossroadsb2b.com

    The MIL Network –

  • MIL-OSI: Syncfusion® Drives AI-Powered Automation in Its Customer Support Platform, BoldDesk®

    Source: GlobeNewswire (MIL-OSI)

    RESEARCH TRIANGLE PARK, N.C., June 26, 2025 (GLOBE NEWSWIRE) — Syncfusion®, Inc., the enterprise technology provider of choice, today announced significant updates to BoldDesk®, its customer service and help desk ticketing platform. This release includes new, AI-driven automation features that shorten response time, reduce manual work, and give developers greater control over customer-support data.

    “BoldDesk began as an in-house project built by our own engineers to organize the daily support queue, and that personal experience shapes every iteration,” said Daniel Jebaraj, CEO of Syncfusion. “The latest enhancements focus on harnessing AI to do the busywork, while preserving the transparency, governance, and open-API flexibility support teams expect.”

    These enhancements advance the BoldDesk Team’s goal to leverage AI for everyday support tasks and streamline agent workflows without adding complexity. The release centers on three themes: action-oriented AI; frictionless ticketing; and unified, omnichannel data. New features include:

    • AI actions execute tasks for you: Copilot can cancel orders, update licenses, and call external APIs directly from a ticket or chat.
    • AI-suggested replies in notifications: The AI can insert a context-aware suggestion into the automatic email sent to customers when they submit a ticket.
    • Live chat speeds up conversations: AI-written summaries and subject lines and service-level agreement (SLA) timers help agents close chats faster.
    • Drag-and-drop ticket forms: Group fields, preview attachments, and share links so agents reach the correct info faster.
    • No-code workflows gain safeguards: New business-hour conditions and execution logs improve workflows. A new draft mode lets admins test automations before launch.
    • Deeper integrations: Two-way Salesforce sync, new voice apps, and ticket automerging bring omnichannel context into a single view.
    • Usage dashboards and new languages: AI-specific analytics, persistent layouts, and six additional UI languages show ROI and support global teams.

    In addition to these updates, BoldDesk continues to deliver its signature value: unlimited agents for a single flat fee, ticket resolutions up to three times faster than siloed inboxes, and a centralized workspace that scales with growing teams. BoldDesk customers can enable these new features today from the platform’s admin center. For more information, visit bolddesk.com.

    About Syncfusion, Inc.
    Headquartered in the technology hub of Research Triangle Park, N.C., Syncfusion, Inc.® delivers an award-winning ecosystem of developer control suites, embeddable BI platforms, and business software. Syncfusion was founded in 2001 with a single software component and a mission to support businesses of all sizes—from individual developers and start-ups to Fortune 500 enterprises. Though its pilot product, the Essential Studio® suite, has grown to over 1,900 developer controls, its mission remains the same. With offices in the U.S., India, and Kenya, Syncfusion prioritizes the customer experience by providing feature-rich solutions to help developers and enterprises solve complex problems, save money, and build high-performance, robust applications.

    Contact: Brittany Kearns
    Phone: 571-271-7211
    Email: brittany@crossroadsb2b.com

    The MIL Network –