NewzIntel.com

Category: Switzerland

  • MIL-OSI: 8th Wall Studio Wins Best Developer Tool Award at AWE USA 2025

    Source: GlobeNewswire (MIL-OSI)

    LONG BEACH, Calif., June 12, 2025 (GLOBE NEWSWIRE) — 8th Wall, the 3D Engine for the AI era, has been awarded Best Developer Tool for 8th Wall Studio at the prestigious Auggie Awards, held during Augmented World Expo (AWE) USA 2025, the world’s largest event dedicated to augmented and virtual reality. The award recognizes excellence in empowering creators and developers to build groundbreaking immersive content, highlighting 8th Wall’s role as a leader in the XR development landscape.

    8th Wall Studio disrupts the legacy game engine model with a streamlined, browser-based platform designed to accelerate 3D and XR development. Developers can now build immersive experiences with AI-powered tools, real-time editing, and one-click deployment across web and native apps for mobile, desktop, and XR headsets.

    This recognition comes just as 8th Wall officially launched the general availability of Studio, a next-generation 3D development platform that marks a significant leap forward for developers. Newly released features include the AI-native Asset Lab, which allows creators to instantly generate images, 3D models, and animated characters using integrated generative AI tools such as OpenAI’s GPT Image 1 and Meshy. Studio’s native app export capability now supports Android, with iOS and other platforms coming soon, giving developers true cross-platform freedom.

    “Studio represents a new era in 3D and XR development, one where AI accelerates creativity, and cross-platform deployment is seamless,” said Erik Murphy-Chutorian, Founder of 8th Wall. “Winning this award at AWE reinforces our belief that the future of immersive content will be built in the browser, powered by AI, and accessible to everyone.”

    8th Wall is also pleased to recognize ARKx, Saatchi & Saatchi Germany, and Form&Fun Studio for winning Best Campaign for the OREO x PAC-MAN: The SuperMarcade AR experience powered by 8th Wall. Also a Webby and Cannes Lions winner, this immersive activation transformed supermarkets into real-life AR PAC-MAN mazes.

    Held annually, AWE USA draws over 5,000 attendees, 250 exhibitors, and 450 speakers across the XR ecosystem. Now in its 16th year, the event is focused on the AI+XR imperative, spotlighting how artificial intelligence is accelerating the adoption and potential of extended reality.

    Developers can start building with 8th Wall for free at www.8thwall.com. For the month of June, new signups get 50 additional bonus credits to do even more with 8th Wall’s new advanced features such as Asset Lab and native app export.

    About 8th Wall
    8th Wall is an award-winning 3D & XR development platform that makes it possible to build interactive, immersive content that can be experienced on any device. 8th Wall supports billions of devices globally and has been used by developers, agencies and creative studios to create 3D/AR activations for brands across industry verticals including retail, food and beverage, travel and tourism, automotive, fashion, sports and entertainment. 8th Wall has powered WebAR experiences for top brands such as Nike, Porsche, Sony Pictures, Burger King, General Mills, British Gas, Heineken, McDonald’s, Swiss Airlines, Toyota, Red Bull, Adidas, COACH and more. 8th Wall, LLC is a subsidiary of Niantic Spatial, Inc. Learn more about 8th Wall at www.8thwall.com.

    Media Contact
    Joel Udwin
    press@8thwall.com

    The MIL Network –

  • MIL-OSI China: 14th China-Switzerland defense policy coordination dialogue held in Beijing 2025-06-12 The 14th China-Switzerland defense policy coordination dialogue was held in Beijing on June 12, 2025.

    Source: People’s Republic of China – Ministry of National Defense

      BEIJING, June 12 — The 14th China-Switzerland defense policy coordination dialogue was held in Beijing on June 12, 2025.

      Leader of the Office for International Military Cooperation of China’s Ministry of National Defense co-chaired the dialogue with the Deputy State Secretary of the State Secretariat for Security Policy (SEPOS) and head of SEPOS’s Strategy and Cooperation Division, the Federal Department of Defence, Civil Protection and Sports (DDPS), Switzerland.

      The two sides had view exchanges on China-Switzerland relations, military-to-military ties, international and regional situations, and other issues of common concern.

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    MIL OSI China News –

  • MIL-OSI United Nations: IOM Reaches Milestone as 100,000 Migrants Return Home from Libya

    Source: International Organization for Migration (IOM)

    Geneva/Tripoli, 12 June 2025 – In a significant milestone, the International Organization for Migration (IOM) has helped over 100,000 migrants voluntarily return home from Libya since launching its Voluntary Humanitarian Return (VHR) programme in 2015. This figure reflects a decade of efforts to offer a lifeline to migrants stranded in precarious conditions across the country. 

    To date, tens of thousands of migrants have returned safely and voluntarily to 49 countries of origin across Africa and Asia, including Nigeria, Mali, Niger, Bangladesh and The Gambia. Of those assisted, nearly 73,000 were men, close to 17,000 women, and over 10,000 children – some of whom were unaccompanied – a reflection of the diversity and vulnerability of Libya’s migrant population.

    “In a context where protection risks remain high and regular pathways are limited, VHR offers a crucial, life-saving option for those who wish to return home,” said Nicoletta Giordano, IOM Libya Chief of Mission. “While we continue to provide humanitarian aid to vulnerable populations, we are also working to support more sustainable, long-term solutions.”

    The programme has served as a lifeline for migrants seeking to go home voluntarily. In a context where protracted instability, limited regular pathways, and protection risks leave many migrants stranded in precarious conditions, VHR offers a safe, dignified, and rights-based alternative.

    VHR covers a comprehensive package of pre-departure and post-return assistance, including protection services, health screenings, mental health and psychosocial support, travel document facilitation, and reintegration assistance.

    IOM ensures that every return is voluntary and based on informed consent, even when migrants are faced with constrained options, in line with the Organization’s return, readmission, and reintegration policy and its due diligence process. The programme also includes robust monitoring and evaluation mechanisms, including return and reintegration assessments, to strengthen accountability and improve service delivery. 

    Last week alone, five return flights were organized, two from Benghazi, two from Sebha, and one from Misrata, underscoring the programme’s broad operational reach.

    Among those recently assisted are John and Temnaia, a married Nigerian couple who met in Libya. As they tried to build a life together, challenges mounted, especially after the birth of their daughter, who had no access to education. “We didn’t see a future for her here,” John explained. Their story echoes that of many others who turn to VHR as a pathway toward safety and a chance to begin again in more stable conditions.

    While VHR provides critical support for many, IOM remains deeply concerned about the persistent challenges and risks faced by migrants along the Central Mediterranean Route. The Organization remains committed to facilitating safe, dignified, and rights-based solutions for migrants who choose to return home, while continuing to engage with partners to ensure protection and pursue durable outcomes for all.

    IOM’s Voluntary Humanitarian Return programme in Libya is funded primarily by the European Union, with additional support from the governments of Italy, the United Kingdom, Norway, Denmark, and Switzerland.

    For more information, please contact IOM Media Centre.

    MIL OSI United Nations News –

  • MIL-OSI Australia: Public country-by-country (CBC) reporting

    Source: New places to play in Gungahlin

    WARNING!

    Public CBC reporting and country-by-country (CBC) reporting are different measures. For information about CBC reporting, go to Country-by-country reporting

    What is Public CBC reporting

    Public country-by-country (CBC) reporting is a regime (the regime) that requires certain large multinational enterprises to publish selected tax information to the public. This information must be reported either on a CBC basis or on an aggregated basis. Under the regime, the parent entity generally has the reporting obligation, rather than the Australian subsidiary (Public CBC reporting parent).

    The regime applies for reporting periods starting from 1 July 2024. For a Public CBC reporting parent with a reporting period end of 30 June, this will be from 1 July 2024. Reports are due within 12 months of the end of the reporting period.

    If a Public CBC reporting parent has a reporting period that does not end on 30 June, the regime will first apply from the start of the relevant period that occurs after 1 July 2024. For example, if a Public CBC reporting parent’s reporting period is from 1 April to 31 March, the regime will first apply for its reporting period starting 1 April 2025, with the first report due before 31 March 2027.

    The Public CBC reporting parent publishes their Public CBC report by providing selected tax information to the ATO in the approved form. We then facilitate the publication of the information on an Australian Government website.

    Public CBC reporting provides information to the public and enables better assessment of whether an entity’s economic presence in a jurisdiction aligns with the amount of tax they pay in that jurisdiction.

    Public CBC reporting requires disclosures about:

    • the revenues, profits and income taxes of the global group
    • the activities of the global group
    • an entity’s international related party dealings.

    Note: Public CBC reporting and country-by-country (CbC) reporting are different measures. For information about CBC reporting, go to Country-by-country reporting.

    Who is required to report

    An entity must report for a reporting period if all of the following apply:

    • it is a CBC reporting parent for the preceding period
    • it is an entity of the type specified
    • it satisfies the requirements for that reporting period.

    An entity is of the specified type if it is any one of the following:

    • constitutional corporation
    • trust, provided each of the trustees is a constitutional corporation
    • partnership, provided each of the partners is a constitutional corporation.

    ‘Constitutional corporation’ means a foreign corporation (one not formed within Australia), or a trading or financial corporation formed within the limits of the Commonwealth.

    An entity satisfies the requirements for a reporting period if all of the following apply:

    • it was a CBC reporting parent for a period that includes the whole or a part of the preceding reporting period
    • it was a member of a CBC reporting group at any time during the reporting period
    • at any point during the reporting period, it, or a member of its CBC reporting group, was an Australian resident or a foreign resident operating an Australian permanent establishment
    • $10 million or more of its aggregated turnover for the reporting period was Australian-sourced
    • it was not an exempt entity or included in a class of exempt entities.

    An entity is a CBC reporting parent for a reporting period if all of the following apply:

    • it is not an individual
    • if it is a member of a CBC reporting group at the end of the period; it is not controlled by any other member of the CBC reporting group at the end of the period
    • its annual global income for the period is $1 billion or more.

    Registration by Public CBC reporting parents

    Registration by Public CBC reporting parents allows for more efficient processing and helps to simplify the process of:

    • giving the Public CBC report to the ATO
    • requesting an extension of time to provide the Public CBC report
    • requesting an exemption from reporting obligations for a reporting period.

    The registration process doesn’t differentiate between resident and non-resident Public CBC reporting parents. A non-resident Public CBC reporting parent without an ATO reference number (ARN) will be automatically issued with an ARN as part of this registration process.

    Registration is also beneficial as it enables a Public CBC reporting parent entity to provide authorisation for representatives to act on its behalf. This includes having representatives satisfy its obligations, such as lodging the Public CBC report or applying for a Public CBC reporting exemption. Representatives can include:

    • designated officers or employees of the CBC reporting parent
    • an authorised representative of the Australian subsidiary
    • an adviser
    • other nominated person.

    The Public CBC registration form is in a fillable portable document format (PDF), and lodgment is via email. Upon lodgment, we will send an email acknowledging receipt.

    To get the form, see Public country-by-country (CBC) registration form (NAT 75645). You can also read the Instructions to complete Public country-by-country registration.

    Public CBC reporting obligations

    The reporting obligation is on the Public CBC reporting parent (whether located overseas or in Australia) to report selected tax information to us.

    An Australian subsidiary of a foreign entity generally does not have any reporting obligation of its own for a reporting period. An exception to that general principle is if a foreign entity does not include the Australian subsidiary in its group’s consolidated accounts, and the Australia subsidiary qualifies as a Public CBC parent entity in its own right.

    The Public CBC reporting parent entity must give the Public CBC report electronically in the approved form to the ATO within 12 months after the end of the relevant reporting period.

    An update to correct any material errors must be given to us within 28 days of the Public CBC reporting parent identifying or otherwise becoming aware of that error.

    Penalties apply for non-compliance.

    What is jurisdictional reporting

    For Australia and specified jurisdictions determined by the Minister, particular information must be published on a CBC basis.

    For operations in other jurisdictions, the Public CBC reporting parent has the choice to publish information on either a CBC basis or an aggregated basis.

    Specified jurisdictions list

    The Minister’s determination of jurisdictions for Public CBC reporting is provided by legislative instrument. The specified jurisdictions are outlined in the Taxation Administration (Country by Country Reporting Jurisdictions) Determination 2024External Link.

    Specified jurisdictions

    Specified jurisdictions that have a comprehensive international tax agreement with Australia:

    • Singapore
    • Switzerland.

    Other specified jurisdictions

    Other specified jurisdictions:

    • Andorra
    • Anguilla
    • Antigua and Barbuda
    • Aruba
    • Barbados
    • Bahamas
    • Bahrain
    • Belize
    • Bermuda
    • British Virgin Islands
    • Cayman Islands
    • Cook Islands
    • Curacao
    • Dominica
    • Gibraltar
    • Grenada
    • Guernsey
    • Hong Kong
    • Isle of Man
    • Jersey
    • Liberia
    • Mauritius
    • Monaco
    • Montserrat
    • Nauru
    • Niue
    • Panama
    • Republic of the Marshall Islands
    • Saint Kitts and Nevis
    • Saint Lucia
    • Saint Maarten (Dutch Part)
    • Saint Vincent & the Grenadines
    • Samoa
    • San Marino
    • Seychelles
    • Turks and Caicos Islands
    • US Virgin Islands
    • Vanuatu.

    Public CBC information to be reported

    The Public CBC reporting parent is required to publish the following information:

    • its own legal name
    • the names of each entity in the CBC reporting group
    • a description of the CBC reporting group’s approach to tax
    • information about Australia and specified jurisdictions, on a CBC basis
    • information about its other jurisdictions, either on a CBC or aggregated basis.

    Information required to be reported

    If the Public CBC reporting parent chooses to report on a CBC basis for all jurisdictions in which the group operates, it doesn’t need to publish any information on an aggregated basis.

    However, if the Public CBC reporting parent only publishes information on a CBC basis for Australia and the specified jurisdictions, it must publish information for all other jurisdictions on an aggregated basis.

    Australia and specified jurisdictions

    The Public CBC reporting parent is required to report the following information for Australia and specified jurisdictions:

    • name of the jurisdiction
    • description of main business activities
    • number of employees (on a full-time equivalent basis) at the end of the reporting period
    • revenue from unrelated parties
    • revenue from related parties that are not tax residents of the jurisdiction
    • profit or loss before income tax
    • book value at the end of the reporting period of tangible assets, other than cash and cash equivalents
    • income tax paid (on a cash basis)
    • income tax accrued (current year)
    • reasons for the difference between income tax accrued (current year) and the amount of income tax due if the income tax rate applicable to the jurisdiction were applied to profit and loss before income tax
    • currency used in calculating and presenting the above information.

    Other jurisdictions (aggregated information)

    The Public CBC reporting parent is required to report the following information on an aggregated basis for all other jurisdictions in which the group operates:

    • description of main business activities in those jurisdictions
    • number of employees (on a full-time equivalent basis) at the end of the reporting period
    • revenue from unrelated parties
    • revenue from related parties that are not tax residents of the jurisdiction in which that revenue is being derived
    • profit or loss before income tax
    • book value at the end of the reporting period of tangible assets, other than cash and cash equivalents
    • income tax paid (on a cash basis)
    • income tax accrued (current year)
    • the currency used in calculating and presenting the above information.

    Guidance

    The information required to be reported has been adopted from the Global Reporting Initiative (GRI) 207: Tax 2019 (GRI 207) reporting standard. The GRI 207 may be used as a source of guidance in interpretating the publishing requirements. Greater detail on the interpretation of terms is contained in the BEPS Action 13 Guidance and OECD Transfer Pricing Guidelines.

    For further detail, see:

    Publishing the information

    The Public CBC reporting parent is required to publish the information on an Australian Government website by giving the information in the approved form to the ATO. The approved form is in XML Schema format, and lodgment is via email. Upon lodgment, we will send an email acknowledging receipt.

    Instructions on the approved form are currently under development and will be available in the second half of 2025.

    The ATO’s role

    We will facilitate the publication of the reported information as soon as practicable on the Australian Government website.

    The first publication is expected to be released in late 2026.

    Extension of time to provide the Public CBC report

    The Public CBC report is due within 12 months after the end of the relevant reporting period. For example, for the reporting period ending 30 June 2025, the Public CBC report is due by 30 June 2026.

    A Public CBC reporting parent may apply to the ATO for an extension of time to provide the Public CBC report. The Public CBC reporting parent can submit their request for deferral to us via email.

    Correcting errors

    If a Public CBC reporting parent becomes aware of a material error in any of the published information, they must rectify the error by providing the corrected information to the ATO. The entity must provide the corrected Public CBC report in its entirety to us by email.

    A correction of a material error is required within 28 days after the entity becomes aware of the error. For example, we will consider an entity aware of a material error once its accountant or tax manager realises the error and prepares an amendment to the entity’s income tax return, necessitating an amendment to its Public CBC report.

    For a non-material error, the entity may choose to rectify the error by providing the corrected Public CBC report in its entirety to us by email.

    If a material or non-material error is rectified by the Public CBC reporting parent, we will publish the corrected information on the Australian Government website as soon as practicable. 

    Penalties apply for non-compliance.

    Exemptions to Public CBC reporting

    The purpose of the Public CBC reporting regime is to enhance tax transparency. However, a Public CBC reporting parent may seek an exemption from reporting obligations from the ATO. We have the discretion, for a single reporting period, to grant an entity a:

    • full exemption
    • partial exemption specifying that it is exempt from publishing information of a particular kind.

    Guidance on how we will administer the exemption will be made available in mid-2025. For updates, see [4148] Public country-by-country reporting transparency measure and exemption discretions.

    Government-related entities

    Government-related entities may be relieved from the Public CBC reporting regime.

    The following are government-related entities:

    • a department of the State of the Commonwealth
    • a Department of the Australian Parliament established under the Parliamentary Services Act 1999
    • an executive agency or statutory agency, within the meaning of the Public Service Act 1999
    • department of state of a state or territory
    • an organisation that satisfies all of the following
      • is either established by the Commonwealth, a state or territory (whether under a law or not) to carry on an enterprise or established for a public purpose by an Australian law
      • can be separately identified by reference to the nature of the activities carried on through the organisation or the location of the organisation
    • a local government body established by or under a state or territory law.

    A government-related entity that is a CBC reporting entity can be relieved from the regime for one or more reporting periods by written notice from the ATO.

    We will provide further guidance for government-related entities in late 2025.

    MIL OSI News –

  • MIL-OSI Global: You’re probably richer than you think because of the safety net – but you’d have more of that hidden wealth if you lived in Norway

    Source: The Conversation – USA – By Robert Manduca, Assistant Professor of Sociology, University of Michigan

    You may be wealthier than you realize. Deagreez/iStock via Getty Images Plus

    How wealthy are you?

    Like most people, you probably would do some math before answering this question. You would add up the money in your bank accounts, the value of your investments and any equity in a home you own, then subtract your debts, such as mortgages and car loans.

    But many economists believe this approach, known as calculating your net worth, leaves out a big chunk of your wealth: the benefits you’ll get in the future from Social Security, if you live in the United States, or similar government benefits programs that help retirees pay their bills in other countries.

    As a sociologist who studies income and wealth inequality, I wanted to figure out just how much government safety net programs are worth to their recipients, and whether they truly can substitute for private savings.

    A $40 trillion trove

    A team of researchers recently estimated that future Social Security payments amounted to more than US$40 trillion as of 2019 – about $123,000 for everyone in the U.S. That huge number, which is not adjusted for inflation, was nearly one-third of the $110 trillion of Americans’ collective net worth in that year.

    In a recent peer-reviewed study, published in April 2025 in Socio-Economic Review, I found that even this expanded definition of wealth leaves some important things out: unemployment insurance, the child tax credit and other widely available benefits. People who have access to these programs don’t have to dip into their savings as much when unexpected costs come up.

    Social Security is by far the largest of these programs. As of 2019, the typical worker nearing retirement had banked about $412,000 in future Social Security benefits, I found – nearly as much as the $472,000 in private retirement savings such workers had. This estimate doesn’t include Social Security benefits to orphans, widows or people with disabilities.

    The value of Social Security retirement benefits varies according to workers’ income and work history, ranging from $271,000 for the poorest 10% of recipients to $669,000 for the richest 10%.

    Benefits from smaller safety net programs can also add up. Because some programs differ by state, I analyzed California and Texas, the two largest states. In California, I calculated that the average 45-year-old worker can count on almost $12,000 in unemployment insurance over 26 weeks, while in Texas the same worker would be eligible for more than $15,000 over the same period.

    Meanwhile, under current law, many families having a child in 2025 can expect to receive about $29,000 through the federal child tax credit over the course of that kid’s lifetime.

    Texas doesn’t mandate paid family leave, but California requires that each parent receive eight weeks of their salary. That’s worth another $13,000 to a family earning $90,000 a year – the median in my study – and more if the parents have higher incomes.

    Where there’s even more hidden wealth

    These somewhat hidden sources of wealth are worth far more in many other countries, especially Scandinavian ones. Norway provides a useful contrast.

    The typical Norwegian worker retires with more than $510,000 in public pension wealth, I calculated. The exact amount they collect will vary depending on what they’ve earned and how long they live, as is the case with Social Security. But, unlike in the U.S., if they get sick, Norwegians are eligible for a up to a year of paid sick leave – worth about $57,000 to the median worker.

    Norwegians can get unemployment insurance benefits for almost two years, amounting to $70,000 for the average worker, depending on their wages. And the combination of Norway’s child benefit and parental leave is worth between $60,000 and $80,000 from the time each child is born until they turn 18, depending on the parents’ exact income.

    In the past few years, researchers have estimated the wealth value of public pensions – though not other government benefits – in several countries, including Australia, Austria, Germany, Poland and Switzerland, among others.

    In many nations, this value rivals or exceeds that of all stocks, real estate and other private assets held by their residents combined.

    Because so many people are eligible for Social Security or its equivalent public pension programs in other countries, there is also much less inequality in total retirement wealth than in standard measures of net worth.

    Wealth vs. income

    Wealth is much more unequally distributed than income just about everywhere. In the United States, for example, the richest 5% of the population has 32% of all income, but 70% of all wealth.

    Wealth inequality has grown over time, and the Black-white wealth gap in the United States is particularly large. While typical Black families have incomes that are about 56% of what white families earn, they own only 18% as much wealth as the typical white family.

    For these reasons, many politicians, scholars and activists have proposed ambitious policies to reduce inequality in private wealth, such as a wealth tax. Another idea gaining in popularity is to start issuing “baby bonds,” which give each newborn a prefunded savings account.

    Wealth embedded in government benefits offers a complementary method of addressing wealth inequality. Even today, when Social Security and similar pension programs in other places are counted alongside private savings, inequality in retirement wealth is much lower than in privately held wealth alone.

    Less flexible source of wealth

    To be sure, the wealth you’re eventually due through Social Security and other government programs isn’t the same as the private assets you might own.

    You can’t sell or borrow against your future Social Security benefits to meet an unexpected expense or make a down payment on a home. And if you die before reaching retirement age, you won’t receive any payments from the Social Security system yourself, although your spouse or heirs may be eligible for survivor benefits.

    Also, government programs are not set in stone. Eligibility requirements can change, and benefit levels can be cut.

    For instance, if the Social Security trust fund is depleted, retirees could see their benefits decline. But private wealth is also never guaranteed to last: Stock values can fluctuate wildly, and inflation erodes the value of any cash you’ve saved over time.

    For these reasons, having a combination of private savings and government benefits offers the most promising way for everyone to prepare for their future. This can also help society address wealth inequality.

    Robert Manduca has received funding from the Washington Center for Equitable Growth.

    – ref. You’re probably richer than you think because of the safety net – but you’d have more of that hidden wealth if you lived in Norway – https://theconversation.com/youre-probably-richer-than-you-think-because-of-the-safety-net-but-youd-have-more-of-that-hidden-wealth-if-you-lived-in-norway-255833

    MIL OSI – Global Reports –

  • MIL-OSI United Nations: Human Rights Council to Hold its Fifty-Ninth Regular Session from 16 June to 9 July 2025

    Source: United Nations – Geneva

    The United Nations Human Rights Council will hold its fifty-ninth regular session from 16 June to 9 July 2025 at the Palais des Nations in Geneva. 

    The session will open at 10 a.m. on Monday, 16 June under the presidency of Ambassador Jürg Lauber of Switzerland.  The opening will be addressed by the United Nations High Commissioner for Human Rights, Volker Türk, who will present his annual report.  The Council will be meeting in room XX of the Palais des Nations.

    Over almost four weeks, the Council will consider more than 60 reports presented by the Secretariat of the United Nations and the High Commissioner for Human Rights, human rights experts and other investigative bodies on numerous topics and relevant to the situation of human rights in more than 40 countries.  In total, the Council will hold 32 interactive dialogues. 

    During the session, the Council will hold interactive dialogues with the High Commissioner on his annual report under agenda item two; on the Bolivarian Republic of Venezuela under agenda item four; and on Ukraine and Colombia under agenda item 10. 

    The Council will hold enhanced interactive dialogues under agenda item two with  the Special Rapporteur on the situation of human rights in Afghanistan and on the oral update of the Fact-Finding Mission on the human rights situation in the eastern Democratic Republic of the Congo.  Under agenda item four, the Council will hold an enhanced interactive dialogue with the High Commissioner on the situation of human rights in Myanmar, with the participation of the Special Rapporteur on the situation of human rights in Myanmar.

    On climate change, the Council will hold its annual panel on the adverse impacts of climate change on human rights, followed by an interactive dialogue with the Special Rapporteur on climate change. The Council will also hold its annual panel on technical cooperation and capacity-building. 

    Under agenda item three, the Council will hold its annual panel discussion on women’s rights, and a panel on safe drinking water and sanitation.  It will also hold interactive dialogues on summary executions, freedom of expression, peaceful assembly, transnational corporations, education, health, leprosy (Hansen’s disease), sexual orientation and gender identity, migrants, internally displaced persons, prevention of genocide, trafficking, extreme poverty, discrimination against women and girls, violence against women and girls, judges and lawyers, and international solidarity.   

    The Council will also hear the presentation of the Secretary-General’s interim report on the temporarily occupied Autonomous Republic of Crimea and the city of Sevastopol, Ukraine, under agenda item 10. Further, it will hold interactive dialogues with the Special Rapporteur on the situation of human rights in Eritrea and the Commission of Inquiry on the Occupied Palestinian Territory, including East Jerusalem and in Israel, under agenda item two; and with the Special Rapporteur on the situation of human rights in Belarus and the Special Rapporteur on the situation of human rights in Burundi under agenda item four. The Council will also hear oral updates from the Fact-Finding Mission for Sudan under agenda item two and from the Commission of Inquiry on Syria under agenda item four. 

    Additionally, the Council will hold interactive dialogues under agenda item seven with the Special Rapporteur on the situation of human rights in the Palestinian territories occupied since 1967, and under agenda item nine with the Special Rapporteur on contemporary forms of racism, racial discrimination, xenophobia and related intolerance.  Under agenda item 10, it will hold an interactive dialogue with the Independent Expert on the situation of human rights in the Central African Republic. 

    The final outcomes of the Universal Periodic Review of 14 States will also be considered, namely those of Italy, El Salvador, Gambia, the Plurinational State of Bolivia, Fiji, San Marino, Kazakhstan, Angola, the Islamic Republic of Iran, Madagascar, Iraq, Slovenia, Egypt, and Bosnia and Herzegovina.

    A detailed agenda and further information on the fifty-ninth session can be found on the session’s web page.  Reports to be presented are available here. All meetings of this session are broadcast on UN Web TV. 

    First Week of the Session

    The fifty-ninth regular session will open on Monday, 16 June under the presidency of Ambassador Jürg Lauber. After the opening, the Council will begin considerations under agenda item two, and the High Commissioner for Human Rights, Volker Türk, will present his annual report.  Subsequently, the Council will hold an enhanced interactive dialogue with the Special Rapporteur on the situation of human rights in Afghanistan, and an interactive dialogue with the Special Rapporteur on the situation of human rights in Eritrea. This will be followed by an enhanced interactive dialogue on the oral update of the Fact-Finding Mission on the human rights situation in the eastern Democratic Republic of the Congo. 

    On Tuesday, 17 June, the Council will hold an interactive dialogue on the High Commissioner’s annual report, followed by an interactive dialogue with the Independent International Commission of Inquiry on the Occupied Palestinian Territory, including East Jerusalem and in Israel.  At the end of the day, it will hear the presentation of an oral update by the Independent International Fact-Finding Mission for Sudan. 

    On Wednesday, 18 June, the Council will commence discussions under agenda item three on the promotion and protection of all human rights, holding interactive dialogues with the Special Rapporteur on extrajudicial, summary or arbitrary executions, the Special Rapporteur on the promotion and protection of the right to freedom of opinion and expression, and the Special Rapporteur on freedom of peaceful assembly and of association, which will conclude on Thursday, 19 June. This will be followed by interactive dialogues with the Working Group on the issue of human rights and transnational corporations and other business enterprises, the Special Rapporteur on the right to education, and the Special Rapporteur on the right of everyone to the enjoyment of the highest attainable standard of physical and mental health. 

    On Friday, 20 June, the Council will hold interactive dialogues with the Special Rapporteur on the elimination of discrimination against persons affected by leprosy (Hansen’s disease) and their family members, the Independent Expert on protection against violence and discrimination based on sexual orientation and gender identity, the Special Rapporteur on the human rights of migrants, and the Special Rapporteur on the human rights of internally displaced persons. 

    Second Week of the Session

    In its second week, the Council will conclude its interactive dialogue with the Special Rapporteur on the human rights of internally displaced persons on Monday, 23 June.  It will then hold interactive dialogues with the Special Advisor on the Prevention of Genocide, the Special Rapporteur on trafficking in persons, especially women and children, and the Special Rapporteur on extreme poverty and human rights.

    The Council will start Tuesday, 24 June, with the first part of its annual discussion on women’s rights, focusing on gender-based violence against women and girls in conflict, post-conflict and humanitarian settings.  This will be followed by an interactive dialogue with the Working Group on discrimination against women and girls.  In the afternoon, the second part of the annual discussion on women’s rights will be held, focusing on the commemoration of the International Day of Women in Diplomacy and on overcoming barriers to women’s leadership in peace processes.

    On Wednesday, 25 June, the Council will hold interactive dialogues with the Special Rapporteur on violence against women and girls, its causes and consequences, the Special Rapporteur on the independence of judges and lawyers, and the Independent Expert on human rights and international solidarity. 

    The Council will start Thursday, 26 June, with a panel discussion on the realisation of the human rights to safe drinking water and sanitation, followed by the presentation of reports under agenda item three.  In the afternoon, it will start its consideration of reports under agenda item four on human rights situations that require the Council’s attention, hearing the presentation of an oral update by the Independent International Commission of Inquiry on the Syrian Arab Republic, followed by interactive dialogues with the Special Rapporteur on the situation of human rights in Belarus, and on the oral update of the Special Rapporteur on the situation of human rights in Burundi. 

    On Friday, 27 June, the Council will hold an enhanced interactive dialogue on the report of the High Commissioner on the situation of human rights in Myanmar, and the oral update of the Special Rapporteur on the situation of human rights in Myanmar.  This will be followed by an interactive dialogue on the High Commissioner’s report on the situation of human rights in the Bolivarian Republic of Venezuela, and the presentation of the High Commissioner’s oral update on the situation of human rights in Nicaragua.

    Third Week of the Session

    The Council will begin its third week on Monday, 30 June, with its annual panel discussion on the adverse impacts of climate change on human rights, focusing on facilitating just transitions in the context of addressing the impacts of climate change on human rights.  This will be followed by an interactive dialogue with the Special Rapporteur on the promotion and protection of human rights in the context of climate change.  It will then hear the presentation of the report of the Working Group on the issue of human rights and transnational corporations and other business enterprises on the thirteenth session of the Forum on Business and Human Rights under agenda item five on human rights bodies and mechanisms.

    The Council will next start its consideration under item six of the outcomes of the Universal Periodic Review of Italy, El Salvador, Gambia, the Plurinational State of Bolivia, Fiji, San Marino, Kazakhstan, Angola, the Islamic Republic of Iran, Madagascar, Iraq, Slovenia, Egypt, Bosnia and Herzegovina, which will conclude at the end of the day on Wednesday, 2 July. 

    On Thursday, 3 July, the Council will hold an interactive dialogue with the Special Rapporteur on the situation of human rights in the Palestinian territories occupied since 1967, under agenda item seven on the human rights situation in Palestine and other occupied Arab territories.  This will be followed by an interactive dialogue with the Special Rapporteur on contemporary forms of racism, racial discrimination, xenophobia and related intolerance, under agenda item nine on racism, racial discrimination, xenophobia and related forms of intolerance. 

    In the afternoon, the Council will begin discussions under item 10 on technical assistance and capacity-building, with interactive dialogues on the oral presentation of the High Commissioner regarding his Office’s periodic report on the situation of human rights in Ukraine, and on the interim report of the Secretary-General on the situation of human rights in the temporarily occupied Autonomous Republic of Crimea and the city of Sevastopol, Ukraine.  This will be followed by an interactive dialogue on the High Commissioner’s report on the enhancement of technical assistance and capacity-building to assist Colombia in the implementation of the recommendations made by the Commission for the Clarification of Truth, Coexistence and Non-Repetition. 

    On Friday, 4 July, the Council will hold its annual panel discussion on technical cooperation and capacity-building, focusing on the role of technical cooperation and capacity-building in strengthening national structures which play a role in promoting and safeguarding human rights, particularly national human rights institutions and national mechanisms for implementation, reporting and follow-up. 

    This will be followed by an interactive dialogue on the oral update of the Independent Expert on the situation of human rights in the Central African Republic.

    In the afternoon, the Council will hear the presentation of the report of the High Commissioner relating to cooperation with Georgia.  It will then start taking action on draft resolutions and decisions. 

    Fourth Week of the Session

    The final week of the Council will be devoted to taking action on draft resolutions and decisions and the appointment of a member of the Expert Mechanism on the Right to Development and a member of the Working Group on arbitrary detention.  The session will conclude on Wednesday, 9 July.

    The Human Rights Council

    The Human Rights Council is an inter-governmental body within the United Nations system, made up of 47 States, which is responsible for strengthening the promotion and protection of human rights around the globe.  The Council was created by the United Nations General Assembly on 15 March 2006 with the main purpose of addressing situations of human rights violations and making recommendations on them.

    The composition of the Human Rights Council at its fifty-ninth session is as follows: Albania (2026); Algeria (2025); Bangladesh (2025); Belgium (2025); Benin (2027); Bolivia (2027); Brazil (2026); Bulgaria (2026); Burundi (2026); Chile (2025); China (2026); Colombia (2027); Costa Rica (2025); Côte d’Ivoire (2026); Cuba (2026); Cyprus (2027); Czechia (2027); Democratic Republic of the Congo (2027); Dominican Republic (2026); Ethiopia (2027); France (2026); Gambia (2027); Georgia (2025); Germany (2025); Ghana (2026); Iceland (2027); Indonesia (2026); Japan (2026); Kenya (2027); Kuwait (2026); Kyrgyzstan (2025); Malawi (2026); Maldives (2025); Marshall Islands (2027); Mexico (2027); Morocco (2025); Netherlands (2026); North Macedonia (2027); Qatar (2027); Republic of Korea (2027); Romania (2025); South Africa (2025); Spain (2027); Sudan (2025); Switzerland (2027); Thailand (2027); and Viet Nam (2025).

    The term of membership of each State expires in the year indicated in parentheses.

    The President of the Human Rights Council in 2025 is Jürg Lauber (Switzerland).  The four Vice-Presidents are Tareq Md Ariful Islam (Bangladesh), Razvan Rusu (Romania), Claudia Puentes Julio (Chile), and Paul Empole Losoko Efambe (Democratic Republic of the Congo).  Mr. Efambe also serves as Rapporteur of the Geneva-based body. 

    The dates and venue of the fifty-ninth session are subject to change.

    Information on the fifty-ninth session can be found here, including the annotated agenda and the reports to be presented.

    For further information, please contact Pascal Sim (simp@un.org), Matthew Brown (matthew.brown@un.org) and David Díaz Martín (david.diazmartin@un.org)

    ___________

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

     

    HRC25.006E

    MIL OSI United Nations News –

  • Piyush Goyal concludes successful visit to Switzerland, begins economic diplomacy in Sweden

    Source: Government of India

    Source: Government of India (4)

    Union Commerce and Industry Minister Piyush Goyal concluded a two-day official visit to Switzerland from June 9 to 10, and has commenced the Sweden leg of his European tour aimed at strengthening economic ties and fostering innovation-driven partnerships.

    The Switzerland visit focused on advancing India-Switzerland economic cooperation and operationalising the Trade and Economic Partnership Agreement (TEPA) signed earlier this year between India and the European Free Trade Association (EFTA). Goyal held high-level meetings with Swiss government officials and industry leaders to chart a roadmap for TEPA implementation and explore new opportunities for trade and investment.

    During the visit, Goyal met with Federal Councillor Guy Parmelin, Head of the Federal Department of Economic Affairs, Education and Research, and State Secretary Helene Budliger Artieda. Discussions centred on regulatory cooperation, skills development, innovation partnerships, and measures to facilitate faster investment decision-making.

    The minister also engaged with Swiss industry leaders across sectors including biotechnology, pharmaceuticals, healthcare, precision engineering, defence, and emerging technologies. In sectoral roundtables and bilateral meetings, Goyal highlighted India’s growing economic strength, policy stability, infrastructure expansion, and the government’s efforts to create a conducive ecosystem for global investors. Swiss companies welcomed India’s expanding domestic market and policy reforms, viewing the country as a key destination for growth and manufacturing.

    A key highlight was Goyal’s participation at the 18th Swissmem Industry Day held in Zurich, attended by over 1,000 delegates representing Switzerland’s mechanical, electrical, and metal industries. In his keynote address, the minister invited Swiss companies, including SMEs and deep-tech innovators, to scale up investments in India by leveraging TEPA. He emphasised India’s demographic advantage, engineering talent, and robust supply chains, encouraging Swiss industry to anchor research and development, establish manufacturing bases, and co-create technologies for emerging markets.

    An immediate outcome of the visit was the swift resolution of a facilitation request from Endress+Hauser, a global process automation firm with a presence in India. The company had raised concerns about land availability near its Maharashtra facility. The issue was resolved within hours through coordinated efforts by the minister and Indian authorities, demonstrating the government’s commitment to investor-friendly governance.

    Goyal also held one-on-one meetings with several Swiss companies exploring expansion strategies, localisation, talent development, and MSME linkages. Interest was especially strong in sectors such as advanced manufacturing, industrial automation, clean technology, and healthcare innovation.

    The minister was accompanied by a high-level delegation from Indian industry bodies including ASSOCHAM, CII, and FICCI, reflecting a whole-of-government and whole-of-industry approach to economic diplomacy. In a meeting with the Switzerland chapter of the Institute of Chartered Accountants of India, Goyal appreciated their contribution to enhancing India’s reputation for financial excellence.

    The visit concluded on a note of shared optimism, with Swiss stakeholders reaffirming confidence in India’s rise as a global economic powerhouse and welcoming the government’s collaborative and reform-oriented approach.

    Moving on to Sweden, Goyal will co-chair the 21st session of the Indo-Swedish Joint Commission for Economic, Industrial and Scientific Cooperation with Sweden’s Minister for International Development Cooperation and Foreign Trade, Benjamin Dousa.

    He is also scheduled to hold bilateral meetings with Benjamin Dousa and Håkan Jevrell, State Secretary to the Minister of Development Cooperation and Foreign Trade. These discussions aim to reinforce the strong economic relationship and identify new opportunities aligned with India’s long-term economic objectives.

    Key engagements will include an India-Sweden business leaders’ round table and meetings with leading Swedish companies such as Ericsson, Volvo Group, IKEA, Sandvik, Alfa Laval, and SAAB. The discussions will focus on sectors where Sweden excels, including advanced manufacturing, green technologies, and sustainable solutions.

    Goyal will also meet members of the Indian diaspora and address media interactions to strengthen people-to-people ties and communicate India’s vision for the bilateral partnership.

  • MIL-OSI: EBC Financial Group Launches over a 100 U.S. ETF CFDs, Strengthening Diversification for Global Clients

    Source: GlobeNewswire (MIL-OSI)

    LONDON, June 11, 2025 (GLOBE NEWSWIRE) — EBC Financial Group (EBC) has announced the launch of over 100 new U.S.-listed Exchange-Traded Fund (ETF) CFDs, expanding its multi-asset product suite and offering global client’s deeper access to diversified, thematic trading opportunities. The rollout highlights EBC’s ongoing commitment to delivering institutional-grade tools across asset classes, underpinned by flexibility, transparency, and efficiency.

    The new offering includes ETFs listed on the NYSE and NASDAQ, issued by leading asset managers such as Vanguard, iShares (BlackRock), and State Street Global Advisors. Thematic coverage spans a wide range of global macro and sectoral narratives.

    “This expansion reflects our vision to bridge intelligent product design with market relevance,” said David Barrett, CEO of EBC Financial Group (UK) Ltd. “The new products are a natural evolution for traders seeking targeted exposure with greater strategic flexibility. At EBC, we’re building an ecosystem that empowers both precision and performance.”

    Thematic Access Meets Tactical Flexibility

    The additional ETF-linked instruments cover a variety of market exposures, including geographic allocations like the iShares MSCI Brazil ETF; fixed income-focused strategies such as the iShares iBoxx $ High Yield Corporate Bond Fund; and sector- or commodity-based indices including the United States Oil Fund LP and the Vanguard Health Care ETF. Other themes include dividend-related baskets, mid-cap equities, and style-based index tracking.

    These developments reflect wider industry interest in instruments that mirror trends in asset allocation without direct ownership of the underlying securities. Across many markets, sector-tilted and style-based index products are gaining relevance as participants seek flexible ways to align with global narratives.

    Historically, ETFs tracking specific economic cycles—such as commodity recoveries or emerging market rebounds—have demonstrated performance differentiation. The iShares MSCI Brazil ETF, for example, notably outperformed the S&P 500 during the post-pandemic recovery period in 2021, highlighting how thematic instruments can diverge from broad indices depending on market cycles.

    These additions serve as both stand-alone trade ideas and complementary instruments alongside EBC’s existing product lineup, enabling advanced portfolio structuring and thematic trading.

    Smarter Exposure: Leverage, Shorting, and Cost Efficiency in One Product

    Compared to direct ETF investments, it presents several key advantages as traders benefit from a simplified cost structure, with no traditional fund management fees or broker commissions. The flexibility to take both long and short positions allows for strategic trading regardless of market direction, while the use of leverage enhances capital efficiency and return potential. These trades are executed in real time via EBC’s recognised platforms, providing seamless access to market opportunities.

    During key market cycles, for example the post-pandemic V-shaped recovery of 2021—certain thematic ETFs, like the iShares MSCI Brazil ETF, significantly outperformed broader indices such as the S&P 500. Our portfolio enables traders to participate in similar trends, adapting quickly to shifting market dynamics with precision and speed.

    Getting Started

    These products can be accessed by registering on www.ebc.com to begin simulated or live trading.

    About EBC Financial Group  
    Founded in London’s esteemed financial district, EBC Financial Group (EBC) is a global brand known for its expertise in financial brokerage and asset management. Through its regulated entities operating across major financial jurisdictions—including the UK, Australia, the Cayman Islands, Mauritius, and others—EBC enables retail, professional, and institutional investors to access a wide range of global markets and trading opportunities, including currencies, commodities, shares, and indices.

    Recognised with multiple awards, EBC is committed to upholding ethical standards and is licensed and regulated within the respective jurisdictions. EBC Financial Group (UK) Limited is regulated by the UK’s Financial Conduct Authority (FCA); EBC Financial Group (Cayman) Limited is regulated by the Cayman Islands Monetary Authority (CIMA); EBC Financial Group (Australia) Pty Ltd, and EBC Asset Management Pty Ltd are regulated by Australia’s Securities and Investments Commission (ASIC);  EBC Financial (MU) Ltd is authorised and regulated by the Financial Services Commission Mauritius (FSC).  

    At the core of EBC are a team of industry veterans with over 40 years of experience in major financial institutions. Having navigated key economic cycles from the Plaza Accord and 2015 Swiss franc crisis to the market upheavals of the COVID-19 pandemic. We foster a culture where integrity, respect, and client asset security are paramount, ensuring that every investor relationship is handled with the utmost seriousness it deserves.   

    As the Official Foreign Exchange Partner of FC Barcelona, EBC provides specialised services across Asia, LATAM, the Middle East, Africa, and Oceania. Through its partnership with United to Beat Malaria, the company contributes to global health initiatives. EBC also supports the ‘What Economists Really Do’ public engagement series by Oxford University’s Department of Economics, helping to demystify economics and its application to major societal challenges, fostering greater public understanding and dialogue.  

    https://www.ebc.com/ 

    Media Contact:
    Savitha Ravindran
    Global Public Relations Manager
    savitha.ravindran@ebc.com

    Michelle Siow
    Brand & Communications Director
    michelle.siow@ebc.com

    The MIL Network –

  • Piyush Goyal bolsters economic ties with Switzerland and Sweden, advances TEPA implementation

    Source: Government of India

    Source: Government of India (4)

    Union Commerce and Industry Minister Piyush Goyal wrapped up a productive two-day visit to Switzerland on June 9-10, and began official engagements in Sweden on Tuesday, reinforcing India’s strategic economic partnerships with both nations.

    “The Switzerland leg of the visit focused on advancing India–Switzerland economic cooperation and operationalising the Trade and Economic Partnership Agreement (TEPA) signed earlier this year between India and the European Free Trade Association (EFTA),” the Commerce Ministry said in a statement.

    During the visit, Goyal held high-level talks with Swiss leaders, including Federal Councillor Guy Parmelin, Head of the Federal Department of Economic Affairs, Education, and Research, and State Secretary Helene Budliger Artieda. The discussions focused on a roadmap for TEPA implementation, prioritizing regulatory cooperation, skill development, and innovation to enhance trade and investment.

    In Zurich, Goyal addressed over 1,000 European industry leaders at the 18th Swissmem Industry Day. He invited Swiss firms, including SMEs and deep-tech innovators, to invest in India, highlighting India’s demographic dividend, engineering talent, and robust supply chains. He positioned India as a global hub for manufacturing and R&D.

    Engagements with Swiss industries covered biotech, pharma, precision engineering, defense, and emerging technologies. Goyal emphasized India’s stable policies and infrastructure growth, urging firms to establish local manufacturing and co-develop technologies for the Global South. A standout outcome was the rapid resolution of a land availability issue for Endress+Hauser in Maharashtra, resolved within hours through coordinated efforts, earning praise as a model of responsive governance.

    Accompanied by representatives from ASSOCHAM, CII, and FICCI, Goyal underscored India’s whole-of-government approach. He also met the Switzerland Chapter of the Institute of Chartered Accountants of India, commending their role in elevating India’s global financial reputation.

    In Sweden, Goyal is set to co-chair the 21st Indo-Swedish Joint Commission for Economic, Industrial, and Scientific Cooperation (JCEISC) with Benjamin Dousa, Sweden’s Minister for International Development Cooperation and Foreign Trade. The session aims to deepen ties in advanced manufacturing, green technologies, and sustainable solutions.

    Bilateral meetings with Dousa and Håkan Jevrell, State Secretary for Development Cooperation and Foreign Trade, alongside an India-Sweden Business Leaders’ Round Table, focus on expanding partnerships with companies like Ericsson, Volvo Group, IKEA, Sandvik, Alfa Laval, and SAAB. Goyal will also engage with the Indian diaspora and media to strengthen people-to-people ties and promote the India-Sweden vision.

    Reflecting on his Switzerland visit, Goyal in a post on X, wrote, “Wrapping up a successful two-day visit to the beautiful city of Bern, with warmth, fond memories & new partnerships. Highly impressed with the curiosity, interest, and trust of industry leaders in India’s growth story. Exciting opportunities lie ahead.”

  • MIL-OSI: Europe Builds AI Infrastructure With NVIDIA to Fuel Region’s Next Industrial Transformation

    Source: GlobeNewswire (MIL-OSI)

    • France, Italy and the United Kingdom Support Regional Technology and Cloud Providers Domyn, Mistral AI, Nebius and Nscale to Deploy More Than 3,000 Exaflops of NVIDIA Blackwell Systems for Sovereign AI
    • NVIDIA to Build AI Factory in Germany to Accelerate Industrial Manufacturing Applications in Europe
    • European Telcos Fastweb, Orange, Swisscom, Telefónica and Telenor Build AI Infrastructure With NVIDIA, Enabling Enterprises to Adopt and Build Agentic AI Applications
    • European Enterprises, Startups and Public Sector to Harness Regional NVIDIA Infrastructure to Develop and Deploy Agentic and Physical AI
    • NVIDIA Establishes AI Technology Centers Across Continent to Advance Research, Upskill Workforces and Accelerate Scientific Breakthroughs

    PARIS, June 11, 2025 (GLOBE NEWSWIRE) — —NVIDIA GTC Paris at VivaTech—NVIDIA today announced it is working with European nations, and technology and industry leaders, to build NVIDIA Blackwell AI infrastructure that will strengthen digital sovereignty, support economic growth and position the continent as a leader in the AI industrial revolution.

    France, Italy, Spain and the U.K. are among the nations building domestic AI infrastructure with an ecosystem of technology and cloud providers, including Domyn, Mistral AI, Nebius and Nscale, and telecommunications providers, including Orange, Swisscom, Telefónica and Telenor.

    These deployments will deliver more than 3,000 exaflops of NVIDIA Blackwell compute resources for sovereign AI, enabling European enterprises, startups and public sector organizations to securely develop, train and deploy agentic and physical AI applications.

    NVIDIA is establishing and expanding AI technology centers in Germany, Sweden, Italy, Spain, the U.K. and Finland. These centers build on NVIDIA’s history of collaborating with academic institutions and industry through the NVIDIA AI Technology Center program and NVIDIA Deep Learning Institute to develop the AI workforce and scientific discovery throughout the regions.

    “Every industrial revolution begins with infrastructure. AI is the essential infrastructure of our time, just as electricity and the internet once were,” said Jensen Huang, founder and CEO of NVIDIA. “With bold leadership from Europe’s governments and industries, AI will drive transformative innovation and prosperity for generations to come.”

    “France is committed to investing in AI to strengthen our economy, benefit our citizens and uphold our values,” said Emmanuel Macron, president of the French Republic. “By working closely with our nation’s leading technology innovators and NVIDIA, we are equipping researchers, entrepreneurs and public institutions with the tools they need to explore new ideas, tackle complex challenges and help shape the future of AI for France.”

    “Just as coal and electricity once defined our past, AI is defining our future,” said U.K. Tech Secretary Peter Kyle. “NVIDIA’s expansion of its technology center here in the U.K. will be vital in helping us to deliver on our AI ambitions, and their partnership in building the capabilities that will transform our AI Growth Zones into engines of opportunity. This is our Plan for Change in action, bringing together leading innovators to build the compute infrastructure that will drive growth across every region and secure the U.K.’s place as a global AI leader in the age of AI.”

    “This agreement represents a strategic step toward strengthening Italy’s technological sovereignty and ensuring that our businesses have secure and competitive access to data management,” said Minister of Enterprise and Made in Italy Adolfo Urso. “The collaboration with top-tier partners such as NVIDIA and Domyn confirms the government’s commitment in supporting high-level alliances to foster innovation and the competitiveness of the national production system.”

    Building Europe’s Foundation for AI Infrastructure and Innovation
    Building AI infrastructure requires strategic investment in advanced systems, land and facilities, sustainable energy access, skilled experts and partnerships. To accelerate the development of these national resources, NVIDIA is working with leaders across France, the U.K., Germany and Italy.

    In France, Mistral AI is working with NVIDIA to build an end-to-end cloud platform powered by 18,000 NVIDIA Grace Blackwell systems in the first phase, with plans to expand across multiple sites in 2026. This infrastructure will enable organizations across Europe to quickly develop and deploy AI using optimized Mistral AI models and validated AI factory designs, accelerating the adoption of agentic AI applications.

    In the U.K., NVIDIA is collaborating with NVIDIA Cloud Partners Nebius and Nscale to unlock advanced AI capabilities for enterprises and businesses of all sizes. At London Tech Week, the cloud providers announced the first phase of their AI infrastructure development plans to deploy 14,000 NVIDIA Blackwell GPUs to power new data centers, making scalable, secure AI infrastructure widely accessible across the U.K.

    In Germany, NVIDIA and its partners are building the world’s first industrial AI cloud for European manufacturers. This AI factory will be powered by NVIDIA DGX™ B200 systems and NVIDIA RTX PRO™ Servers featuring 10,000 NVIDIA Blackwell GPUs to enable Europe’s industrial leaders to accelerate every manufacturing application, from design, engineering and simulation to factory digital twins and robotics.

    In Italy, NVIDIA is working with Domyn and the government to advance the nation’s sovereign AI capabilities. Domyn is developing its Domyn Large Colosseum reasoning model on its supercomputer, Colosseum, with NVIDIA Grace Blackwell Superchips, in alignment with its mission to support regulated industries in adopting AI.

    European Telcos Build AI Infrastructure With NVIDIA for Regional Enterprises
    NVIDIA is also working with leading European telecommunications providers — including Orange, Fastweb, Swisscom, Telefónica and Telenor — to develop secure, scalable sovereign AI infrastructure across the region.

    • Orange is accelerating the development of enterprise-grade AI, including agentic AI, large language models and personal AI assistants, using Orange Business’ Cloud Avenue, built on high-performance NVIDIA infrastructure.
    • Fastweb introduced MIIA — an Italian language model to support generative AI applications — trained and running on its NVIDIA DGX AI supercomputer.
    • Telenor is expanding its sovereign AI infrastructure in Norway with a new, renewable-powered data center, in addition to hosting a partner’s multilingual AI translation service, available in over 100 languages.
    • Swisscom is launching new AI services, including GenAI Studio and AI Workhub hosted on its sovereign AI NVIDIA DGX SuperPOD™-based infrastructure, empowering Swiss enterprises to rapidly build and scale AI applications.
    • Telefónica is piloting a distributed edge AI fabric across Spain with hundreds of NVIDIA GPUs to deliver low-latency, privacy-focused AI services.

    These collaborations enable enterprises to develop and deploy customized AI models and agentic applications at scale, tapping into telcos’ extensive networks and trusted role as critical infrastructure providers.

    NVIDIA AI Technology Centers Fuel Research, Upskilling and Scientific Progress
    NVIDIA is establishing and expanding technology centers in Germany, Sweden, Italy, Spain, the U.K. and Finland to accelerate AI skills development, research and infrastructure for the continent’s enterprises and startups.

    • The Bavarian AI center in Germany, intended to be established in collaboration with the Bayern KI consortium, will advance research in fields including digital medicine, stable diffusion AI and open-source robotics platforms to foster global collaboration.
    • The Sweden AI center will advance world-class AI research with support from NVIDIA experts and hands-on NVIDIA Deep Learning Institute training to help with upskilling.
    • The Italy AI center will expand to include new AI factory deployments with the CINECA consortium.
    • The Spain AI center will expand to include a new AI factory with the Barcelona Supercomputing Center.
    • The U.K. AI center will accelerate the U.K.’s most groundbreaking research in embodied AI, materials science and Earth systems modeling.
    • The Finland AI center enables researchers to accelerate AI research and applications for computer vision, machine learning and AI for science.

    These strategic initiatives across Europe build on NVIDIA investments in building AI infrastructure worldwide, including in Taiwan and the Middle East.

    Watch the NVIDIA GTC Paris keynote from Huang at VivaTech, and explore GTC Paris sessions.

    About NVIDIA
    NVIDIA (NASDAQ: NVDA) is the world leader in accelerated computing.

    For further information, contact:
    Corporate Communications
    NVIDIA Corporation
    press@nvidia.com

    Certain statements in this press release including, but not limited to, statements as to: with bold leadership from Europe’s governments and industries, AI driving transformative innovation and prosperity for generations to come; technology development in European nations; the benefits, impact, performance, and availability of NVIDIA’s products, services, and technologies; expectations with respect to NVIDIA’s third party arrangements, including with its collaborators and partners; expectations with respect to technology developments; and other statements that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections based on management’s beliefs and assumptions and on information currently available to management and are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic and political conditions; NVIDIA’s reliance on third parties to manufacture, assemble, package and test NVIDIA’s products; the impact of technological development and competition; development of new products and technologies or enhancements to NVIDIA’s existing product and technologies; market acceptance of NVIDIA’s products or NVIDIA’s partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of NVIDIA’s products or technologies when integrated into systems; and changes in applicable laws and regulations, as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

    © 2025 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, DGX, NVIDIA DGX SuperPOD and NVIDIA RTX PRO are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries. Other company and product names may be trademarks of the respective companies with which they are associated. Features, pricing, availability and specifications are subject to change without notice.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1aeac85d-7ea3-4ada-98c2-c199a10e8d84

    The MIL Network –

  • MIL-OSI New Zealand: Unions take pay equity fight to the ILO

    Source: NZCTU

    New Zealand Council of Trade Unions Te Kauae Kaimahi Secretary Melissa Ansell-Bridges has taken the pay equity fight to the International Labour Organisation (ILO) conference in Geneva, Switzerland. The ILO is a United Nations agency whose mandate is to advance social and economic justice by setting international labour standards.

    “I spoke about the recent pay equity changes at the ILO to highlight that Christopher Luxon’s Government has abandoned what was world-leading pay equity legislation,” said Ansell-Bridges.

    “It was important to inform the 187 member states that despite not being signalled in the last election, reforms to severely undermine the legislation were passed under urgency without any consultation with workers or their unions.

    “Overnight this world-leading system was gutted and what remained in its place is a series of roadblocks, impossible thresholds and obstacle courses masquerading as pay equity.

    “180,000 workers, mostly women, many of whom are some of the most vulnerable and lowest paid workers in New Zealand, had their claims cancelled and years of work thrown away.

    “Our response to massive undervaluation of pay in female-dominated industries must be how do we fix this, not how do we shirk these costs, having benefited so long from underpaying women.

    “We could once be proud on the world stage for making progress towards correcting this blatant sexism – it is shameful that we now have a government that has such low regard for the right to be free from gender discrimination.

    “I assured the conference that the union movement in Aotearoa New Zealand will continue to push for a genuine pay equity system and will not rest until women’s work is properly valued and workers everywhere are paid equitably regardless of their gender,” said Ansell-Bridges.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Legal Issues – Unions take pay equity fight to the ILO – CTU

    Source: New Zealand Council of Trade Unions Te Kauae Kaimahi

    New Zealand Council of Trade Unions Te Kauae Kaimahi Secretary Melissa Ansell-Bridges has taken the pay equity fight to the International Labour Organisation (ILO) conference in Geneva, Switzerland. The ILO is a United Nations agency whose mandate is to advance social and economic justice by setting international labour standards.

    “I spoke about the recent pay equity changes at the ILO to highlight that Christopher Luxon’s Government has abandoned what was world-leading pay equity legislation,” said Ansell-Bridges.

    “It was important to inform the 187 member states that despite not being signalled in the last election, reforms to severely undermine the legislation were passed under urgency without any consultation with workers or their unions.

    “Overnight this world-leading system was gutted and what remained in its place is a series of roadblocks, impossible thresholds and obstacle courses masquerading as pay equity.

    “180,000 workers, mostly women, many of whom are some of the most vulnerable and lowest paid workers in New Zealand, had their claims cancelled and years of work thrown away.

    “Our response to massive undervaluation of pay in female-dominated industries must be how do we fix this, not how do we shirk these costs, having benefited so long from underpaying women.

    “We could once be proud on the world stage for making progress towards correcting this blatant sexism – it is shameful that we now have a government that has such low regard for the right to be free from gender discrimination.

    “I assured the conference that the union movement in Aotearoa New Zealand will continue to push for a genuine pay equity system and will not rest until women’s work is properly valued and workers everywhere are paid equitably regardless of their gender,” said Ansell-Bridges.

    MIL OSI New Zealand News –

  • MIL-OSI Global: Some economists have called for a radical ‘global wealth tax’ on billionaires. How would that work?

    Source: The Conversation – Global Perspectives – By Venkat Narayanan, Senior Lecturer – Accounting and Tax, RMIT University

    Rudy Balasko/Shutterstock

    Earlier this year, I attended a housing conference in Sydney. The event’s opening address centred on the way Australia seems to be becoming like 18th-century England – a country where inheritance largely determines one’s opportunities in life.

    There has been a lot of media coverage of economic inequities in Australian society. Our tax system has been partly blamed for this problem. The case for long-term, visionary tax reform has never been stronger. And one area of tax reform could be a wealth tax.

    First, let’s be clear about one thing. Unlike the superannuation tax reforms currently being debated for those with more than A$3 million in superannuation, the wealth tax we’re talking about would apply to a very different cohort: billionaires.

    A recent article in the Financial Times re-examined a proposal to impose such a tax on the world’s highest-net-worth individuals. It also pointed out these efforts would need to be globally coordinated.

    Such taxes could collect significant sums of money for governments. It’s previously been estimated a billionaire tax could raise US$250 billion (more than A$380 billion) globally if just 2% of the net worth of the world’s billionaires was taxed each year.

    The case for a wealth tax

    Inequality is on the rise and the argument for a wealth tax can’t be ignored – not least here at home. According to the Australia Institute, the wealth of Australia’s richest 200 people has soared as a percentage of our national gross domestic product (GDP) – from 8.4% in 2004 to 23.7% in 2024.

    If that sounds dramatic, the picture is far worse in the United States. So, what would a wealth tax look like in Australia (noting that in reality a globally coordinated effort would be needed)?

    The starting point for this is understanding of why high-net-worth individuals seemingly pay very low taxes.

    High net worth, low tax rate

    Income taxes only take into account any amounts that are received in the hands of the taxpayer – whether that is a company, a person or a trust.

    Most high-net-worth individuals do not receive much income directly but “store” their wealth in companies and other corporate structures.

    In Australia, the maximum applicable tax rate for companies is 30%. Note that the highest tax rate in Australia for individuals is 45% plus the 2% medicare levy, effectively 47%.

    Assets such as real estate may also be held by companies or trusts, and the increase in value of these assets is not taxed until they are sold (through capital gains tax).

    Even then, those gains may not be paid out directly to the high-net-worth individual who owns these entities.

    Unrealised gains

    So, how do we tax wealth that is sitting in various businesses (company structures) or other entities, but isn’t taxed at present because the “income” or “gains” from these are not taxable in the hands of the wealthy individuals who own them?

    This goes into the murky area of taxation of unrealised gains. Here, we need to tread very carefully. But we also need to recognise that we already do this, albeit rather subtly, and most of us are not billionaires.

    In your rates notice from your local council, for example, the increase in value of your residence or investment property is used to calculate your rates.

    The real difficulty, to carry on with this example, is that your residence or investment property is typically held in your name and so the tax can be directly levied on you.

    A luxury residence in Miami Beach, Florida, owned by Jeff Bezos, founder of Amazon. The US is home to the most billionaires of any country in the world.
    Felix Mizioznikov/Shutterstock

    Making tax unavoidable

    As we’ve already explained, the bulk of the assets or net worth of wealthy individuals is not directly attributable to them. Does this mean we should give up altogether?

    Not quite. UNSW professor Chris Evans has pointed out that while we may not be able to effectively tax all the net worth of the wealthy, there are some things we can tax and they can’t avoid it.

    An obvious example is real estate. You can pack your bags and bank accounts and move to a low-tax country, but you can’t move your mansion overlooking Sydney Harbour.

    Real estate, both residential and commercial, provides one clear way in which we could implement a partial wealth tax. This method (which also has fewer valuation issues than value stored in a company in the form of retained profits) also counters the argument that the wealthy will simply move to other jurisdictions that won’t tax them.

    There is plenty of academic research looking at various wealth tax initiatives in other countries. We should learn from these, including the experience in Switzerland and Sweden.

    In Sweden, for instance, research found the behavioural effects of wealth taxation were less pronounced than those of income taxation, but the system had so many loopholes that evasion was an option for some people.

    Change faces headwinds

    In a very uncertain world that features ongoing wars and an unpredictable US president, any change that seeks to address issues of inequity is going to be met with resistance by those who hold power.

    Some billionaires in the US, however, have expressed their support for being taxed more in a letter signed by heirs to the Disney and Rockefeller fortunes. That offers some hope, and suggests the discussion about wealth taxes should not be relegated to the “too hard” basket.

    Some steps towards taxing the uber-rich would be better than the status quo.

    Venkat Narayanan 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. Some economists have called for a radical ‘global wealth tax’ on billionaires. How would that work? – https://theconversation.com/some-economists-have-called-for-a-radical-global-wealth-tax-on-billionaires-how-would-that-work-257632

    MIL OSI – Global Reports –

  • MIL-OSI China: Tome names Spain squad for Women’s Euros

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

    There were few surprises as Spain women’s team coach Montse Tome on Tuesday announced the 23-player squad for next month’s Women’s European Championships.

    Spain travels to Switzerland as the reigning world and UEFA Nations League champion, and will play Portugal, Belgium and Italy in the group stage.

    “The players have done an incredible job to be here, I am happy with the selection and I also remember the players who have been with us, who haven’t made the 23, but I was thinking about what will be needed in the Euros,” said Tome.

    Tome has included 10 players from FC Barcelona in her squad, including Aitana Bonmati and Alexia Putellas, along with goalkeeper Cata Coll and defender Irene Paredes.

    “We have experience at club and international level and also young players, so I don’t worry about a lack of experience, we have players who can play in different positions and I think we have the capacity to do well,” added the coach, who insisted she was confident the players would arrive in good condition for the tournament.

    One player who missed out is Jenni Hermoso, who made headlines after the 2023 World Cup after she was the victim of an unsolicited kiss by former Spanish Football Federation President Luis Rubiales.

    “I have spoken to her and with her coach and we carried out the work we did with the other players. We have looked at our season and we valued what we need and what we don’t need.”

    “Every squad is difficult and this is the hardest for me as coach and the technical staff,” revealed Tome. 

    MIL OSI China News –

  • MIL-OSI: 8th Wall disrupts the legacy game engine model with the official launch of AI-native 3D development platform

    Source: GlobeNewswire (MIL-OSI)

    PALO ALTO, Calif., June 10, 2025 (GLOBE NEWSWIRE) — Today, 8th Wall announced the general release of 8th Wall Studio, a 3D game engine purpose-built for the AI era. Designed from the ground up for modern development, 8th Wall eliminates the bloat and limitations of legacy engines to deliver a faster, smarter way to build immersive content.

    Studio graduates from beta with a powerful new feature set designed to accelerate 3D and XR development. From AI-generated assets to native app builds, developers can go from concept to app store with more speed, flexibility, and scale than ever.

    8th Wall has been a pioneer in creating 3D and AR web apps that are instantly accessible in the browser. It is now reaching beyond this foundation to enable iOS, Android, desktop and headset native app development. Beginning today, developers can deploy their content as Android apps with other platforms coming soon. This gives developers the flexibility to meet their audience wherever they are and significantly increases their reach.

    “Today changes what developers can expect from a modern 3D engine,” said Erik Murphy-Chutorian, Founder of 8th Wall. “8th Wall now provides a departure from legacy game engines that originated decades ago. With the launch of our AI and native export features, we are ushering in a new era of game development, one that truly embraces cross-platform and integrates AI as a core part of the creation process.”

    The new 8th Wall Asset Lab gives developers the ability to generate images, 3D models and rigged and animated character models using GenAI and instantly add them to their scene. The system is designed to deliver cutting-edge AI asset creation faster than any other solution on the market. It seamlessly integrates best-in-class generative models, including OpenAI’s GPT Image 1, Flux.1 Kontext, Trellis 3D, Hunyuan3D, and Meshy, into an automated workflow from generation to import. This new capability makes prototyping feel a whole lot more like production by replacing grey boxes and cubes with real content.

    A Media Snippet accompanying this announcement is available by clicking on this link.

    “AI is changing how developers prototype and build content. By equipping developers with AI-first tools, we believe they will be able to create high-quality prototypes and games faster than ever before,” said Joel Udwin, Director of Product at 8th Wall. “This is just the beginning of 8th Wall becoming an AI-first game engine. Developers should soon expect to go beyond assets to be able to use prompts to generate scenes and watch as their experience takes shape in our visual editor.”

    All of these new capabilities and more are now live in 8th Wall. The use of advanced features such as AI-generated assets and native app export require the use of credits. Free plan users get 50 credits every month. Existing developers and anyone who signs up in June get an extra 50 bonus credits to kick things off.

    Developers can build, prototype and publish 3D and XR experiences for free on 8th Wall by visiting 8thwall.com.

    About 8th Wall

    8th Wall is an award-winning 3D & XR development platform that makes it possible to build interactive, immersive content that can be experienced on any device. 8th Wall supports billions of devices globally and has been used by developers, agencies and creative studios to create 3D/AR activations for brands across industry verticals including retail, food and beverage, travel and tourism, automotive, fashion, sports and entertainment. 8th Wall has powered WebAR experiences for top brands such as Nike, Porsche, Sony Pictures, Burger King, General Mills, British Gas, Heineken, McDonald’s, Swiss Airlines, Toyota, Red Bull, Adidas, COACH and more. 8th Wall, LLC is a subsidiary of Niantic Spatial, Inc. Learn more about 8th Wall at www.8thwall.com.

    Media contact

    Joel Udwin
    press@8thwall.com

    The MIL Network –

  • MIL-OSI: Giftbit Expands Global Footprint, Emphasizes Ease

    Source: GlobeNewswire (MIL-OSI)

    SEATTLE and CALGARY, Alberta, June 10, 2025 (GLOBE NEWSWIRE) — Giftbit, a digital payouts and gift card platform for businesses, has launched new features to improve reward management and expand its international offering. Highlights include one-click add-to-wallet functionality for prepaid Visa® cards, enhanced reporting, and a major expansion of its global gift card catalog.

    One-Click Add-to-Wallet Feature

    Recipients of prepaid Visa rewards can now instantly add their balance to Apple Pay, Google Pay, or Samsung Pay with a single click. No apps, logins, or manual data entry required.

    “Smooth activation matters,” said Leif Baradoy, Giftbit’s CEO and founder. “Other vendors make people jump through hoops which lead to frustration and user fatigue. We’re focused on a seamless cardholder experience.”

    The update also includes PIN support for spending at gas stations and convenience stores.

    Reward Management a Breeze With New Reporting Dashboard

    Giftbit is proud to launch one of its most highly requested features: an intuitive reward history dashboard. Customers can now easily view, sort, and filter sent rewards by date, status, brand, or campaign, all within the Giftbit web application. This update helps program managers track unclaimed rewards, resend with ease, and monitor contact list health, making it easy to find key details and take action across multiple orders all in one place.

    “The new Rewards History view has made it so much easier for us to stay on top of undeliverable rewards,” said Giftbit customer Hunter Lisenby of United Communications. “We can quickly spot bad contact email addresses and fix the issue without digging through individual orders.” 

    Expanded Global Reach

    Giftbit believes incentive programs should have the ability to reach entire audiences no matter where they reside. That’s why it’s proud to support local currency rewards in over 30 countries, enabling businesses to send payouts in the recipient’s currency for a more personal and seamless experience.

    Supported regions now include:

    Australia, Austria, Belgium, Brazil, Canada, China, Czechia, Denmark, Finland, France, Germany, Great Britain, Greece, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, Netherlands, New Zealand, Norway, Philippines, Poland, Romania, Singapore, South Korea, Spain, Sweden, Switzerland, Thailand, United States.
    (Prepaid Mastercard®available globally wherever Mastercard is accepted)

    Strategic Partnerships Expand Catalog Offering

    New partnerships make Giftbit’s gift card catalog more reliable and diverse. Built-in backups prevent outages and strengthen a smooth end-to-end reward experience.

    “A strong catalog is key,” said Nat Salvione, Giftbit’s Chief Commercial Officer. “These partnerships help us deliver stable rewards anytime, anywhere.”

    In addition, Giftbit has upgraded their funding and payment processes to allow customers to fund their accounts in their preferred currency for easier operational control.

    Simplifying Global Rewards, Now and Ahead

    Giftbit continues to invest in the future of global digital rewards. The platform now supports:

    • 1,000+ payout products
    • 30+ local currencies
    • 25 funding currencies
    • Regional brand support in 40+ countries
    • Global prepaid card options in 100+ countries

    These enhancements make it easier than ever for businesses to scale their reward programs across borders with built-in flexibility, choice, and regional support.

    About Giftbit

    Giftbit helps companies send digital payouts and rewards at scale. Its platform offers branded gift cards, prepaid cards, and global payout options, making it easy to incentivize and reward employees, customers, and partners anytime, anywhere.

    Learn more at: www.giftbit.com.

    Media Contact: Zoe North — pr@giftbit.com

    The MIL Network –

  • Piyush Goyal deepens India–Switzerland trade ties, urges Swiss firms to invest under TEPA

    Source: Government of India

    Source: Government of India (4)

    Union Commerce and Industry Minister Piyush Goyal met with top Swiss business leaders in Bern on Monday to boost bilateral economic ties. The discussions, held under the framework of the recently signed Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA), focused on expanding cooperation in innovation, technology transfer, and sustainable manufacturing.

    During his visit, Goyal interacted with senior leadership from some of Switzerland’s most prominent companies spanning sectors such as biotechnology, precision engineering, healthcare, defence, and emerging technologies. The Minister extended an open invitation for Swiss firms to expand their footprint in India, highlighting the vast potential of India’s rapidly growing economy, youthful talent base, and favorable investment climate.

    Reaffirming India’s commitment to enabling global business, Goyal assured Swiss companies of a transparent regulatory framework, a robust intellectual property rights regime, and investor-friendly policies. He urged businesses to view India not merely as a large consumer market, but as a strategic hub for manufacturing, innovation, and global value chain integration.

    Goyal chaired two sector-focused roundtable discussions with Swiss industry leaders. The first session spotlighted Biotech, Pharma, and Healthcare, while the second addressed Precision Engineering, Defence, and Emerging Technologies. Both events were hosted with support from the Indian Embassy in Switzerland and showcased India’s growing reputation as a destination for affordable innovation and scalable production.

    The Minister highlighted the role of the EFTA Desk at Invest India, set up to provide facilitation support and handholding to potential Swiss investors. He emphasized India’s openness to working towards regulatory harmonization and mutual recognition agreements, further smoothing the path for Swiss-Indian partnerships.

    Beyond business interactions, Goyal also met with members of the Switzerland Chapter of the Institute of Chartered Accountants of India (ICAI). He praised the chapter for its efforts in promoting India’s professional excellence abroad and strengthening the India–Switzerland economic and professional networks.

    Swiss business leaders expressed robust confidence in India’s economic trajectory and its potential as a global innovation powerhouse. Commending India’s growing middle class, skilled workforce, and strong R&D capabilities, companies from a range of sectors voiced their intent to deepen engagement with India. Discussions touched on potential joint ventures, manufacturing localization, and co-development of high-tech solutions across fields such as cell sciences, cancer research, fibre optics, industrial automation, space technology, and cybersecurity.

    Many Swiss companies acknowledged India as a natural partner, describing the bilateral economic relationship as one of strategic alignment and long-term commitment. For them, India represents both a key market and a springboard for accessing international customers through integrated supply chains and co-created technologies.

  • MIL-OSI United Nations: Kamal Kishore: We can celebrate success, but the real work starts now

    Source: UNISDR Disaster Risk Reduction

    Last week the Global Platform for Disaster Risk Reduction brought together an amazing, devoted community of disaster risk reduction practitioners from all around the world.

    Over the past four decades, since the early days of the Decade for Disaster Risk Reduction, this community has really stuck together. It’s a caring community: sensitive, solutions-oriented, increasingly inclusive.

    It’s fantastic that we can come together every few years to take stock of what we’re achieving, where we are falling short, and what we could do more of.

    Throughout the week they have shown us solutions from every corner of the world – from remote communities in Nepal to small island nations across the Pacific, Caribbean, and Indian Ocean, to flood- or drought-prone regions across the globe.

    There’s so much happening – and that is a real cause for optimism. It provides me with determination to do more.

    After reflecting on all that I’ve learnt, the discussions I’ve had and listened to, and the immense collection of experience, perspectives and wisdom that were assembled, I want to highlight three things:

    First: we are succeeding

    Disaster mortality is down 50% decade on decade.

    Over 130 countries have DRR strategies.

    That’s a scale of progress we haven’t seen in any other area of development practice. We are succeeding – and that’s rare.

    But success is fragile: Yes, fewer lives are lost – but the newer risks are shifting. Mortality risk from intensifying hazards like heatwaves, and low-frequency high-impact geophysical hazards such as earthquakes and tsunamis continues to be a cause for concern.

    We still have work to do on Target A – to reduce disaster mortality – and Target E – to put in place national and local DRR strategies.

    Strategies exist; but are they backed by funding? By legislation? Are their effects felt at local level? We must ask these tough questions – to ourselves, our communities, and our governments – so that we can find and fill the gaps.

    Success is not guaranteed to last. We need to consolidate our progress and remain alert. We have to do more.

    Second: we need to get serious about financing 

    This is the next leap: we – as DRR practitioners, as governments, as the international community – still need serious resourcing for disaster risk reduction.

    After 35 years, we still haven’t cracked this problem, and no country is immune. We need to ask, why?

    The evidence shows the value of DRR investments, but we need to make it more robust and granular, and framed in ways that can persuade potential financiers.

    In our quest for more resources, we must look at all sources: national budgets, private capital, insurance, climate finance, development aid. The investments benefit everyone, so the money must come from everywhere.

    But that raises an equally important question: how do we use this money? Do we have the systems to allocate it effectively? Very few countries have national infrastructure investment plans that are informed by risk data.

    Switzerland – our GP 2025 host – is a standout. The Swiss Government and private sector invest billions every year in disaster risk reduction and measuring outcomes. And the returns of this investment are clear: just last week, when the village of Blatten was obliterated by a landslide, triggered by glacial melting, nearly all the population, plus their livestock, were evacuated to safety thanks to early warnings and robust risk management.

    We must continue to focus on infrastructure investment planning. This Platform brought together finance ministers and planners from several countries— but let’s go further. Next time we should bring 70 finance ministers, and ask them: “What is your infrastructure investment strategy, and how is it risk-informed?”

    We must go even further, and take the discussion beyond top-level conversations, down to sector-by-sector planning, and ask, “where is the risk?”

    Our 2025 Global Assessment Report can help show where the risk is; now we need to translate those findings into strategic investments, at scale. Otherwise, our development gains will be continuously eroded.

    This next leap is also about mainstreaming risk-informed development — something we’ve talked about for two decades, but we still haven’t done enough. This means investing in humble infrastructure – homes, schools, hospitals – and not just in power, water, transport, and telecoms.

    During the GP we had a ministerial roundtable on school safety. We know how to make schools safer: in Nepal, after the 2015 earthquake, every one of the 150 retrofitted schools in Kathmandu Valley remained usable.

    And in doing all this, we must keep our promise to the Small Island Developing States, who are at the frontline of increasing climate disasters.

    Third: there is inspiration all around us

    My third point is about inspiration. What has been really inspiring at this Platform is the work of community groups, women’s groups, youth groups, local governments.

    The innovative work is happening at local levels. We need to capture and elevate these initiatives – not just to circulate in reports, but to give legitimacy, voice, and funding so these actions can be scaled.

    The future of disaster risk reduction is not just national. It’s in cities, towns, and villages.

    If we don’t reduce risk at the local level, we won’t succeed. Local actors are already taking action – they are not waiting for the UN or national governments. We must scale this work.

     

    Watch some examples of inspiring initiatives 

    To sum up: If we consolidate our progress – without taking it for granted; if we fast-track financing for DRR; and if we elevate local action, we will go far. In five years, we will be celebrating not just disaster risk reduction, but human flourishing.

    The slogan for the 2025 Global Platform has been ‘Every day counts: act for resilience today.’ We must all take that call to heart.

    The work starts now.

    We have the eight-point Geneva Call for Disaster Risk Reduction to guide us, outlined in the Global Platform Co-Chairs’ Summary.

    When asked how the Global Platform was, I say: I’ll tell you in six months – because the discussions and pledges made this week are only as good as the follow-up.

    Finally, I’d like to thank everyone who put in so much hard work that contributed to the success of the 2025 Global Platform: The Government of Switzerland and the Canton of Geneva for hosting, the Member States and ministers, UN partners, my UNDRR team, and most of all, the dedicated and tireless DRR community who joined us in Geneva and remotely.

    MIL OSI United Nations News –

  • MIL-OSI United Nations: The Geneva Call for Disaster Risk Reduction: The Co-Chairs’ Summary of the Global Platform

    Source: UNISDR Disaster Risk Reduction

    The eighth session of the Global Platform for Disaster Risk Reduction took place from 2 to 6 June 2025 in Geneva, Switzerland. It was co-chaired by Ambassador Patricia Danzi, Director-General of the Swiss Agency for Development and Cooperation, and Kamal Kishore, Special Representative of the Secretary-General for Disaster Risk Reduction and the Head of the United Nations Office for Disaster Risk Reduction.

    This edition of the Global Platform was the first since the Midterm Review of the Implementation of the Sendai Framework for Disaster Risk Reduction 2015-2030. Since 2015, countries have made significant progress, but challenges remain. Recognising this, the Global Platform was organised under the theme of “Every Day Counts, Act for Resilience Today.”

    The 8th Global Platform’s outcome document, the Co-Chairs’ Summary, is titled the “Geneva Call for Disaster Risk Reduction.” It aims to serve as a guide and a rallying call to governments and stakeholders to accelerate the implementation of the Sendai Framework in the remaining five years until 2030. The Summary concludes with an eight-point call to action: The Geneva Call for Disaster Risk Reduction:

    The Geneva Call for Disaster Risk Reduction

    Successes over the last ten years in the implementation of the Sendai Framework are a cause for optimism, especially as local actors and communities are inspiring the world with examples of how they are managing risks. As the cost of disasters increases and international assistance dwindles, urgent, more concrete actions are needed in the next five years to sustain progress towards achieving the expected outcome and goal of the Sendai Framework by 2030, thereby contributing to meeting the goals of the 2030 Agenda, and post-2030 considerations.

    1. Better data to understand risk: The collection, analysis and application of risk information should underlie all resilience-building measures. Countries need to collect and share historical data, track disaster impacts, broken down by sex, age, disability and income, and conduct predictive analyses. The use of the disaster tracking system and the Sendai Framework Monitor should be scaled up.
    2. Use technology to leapfrog progress: All countries and communities can benefit from the ethical use of emerging technologies, such as artificial intelligence, to accelerate disaster risk reduction. Technology access should be facilitated for developing countries and ‘last mile’ communities in all countries.
    3. Promote integrated risk governance and cooperation: The growing complexity of risk demands breaking institutional and policy silos and integrate plans across To that end, a comprehensive risk management approach should be pursued to integrate the implementation of climate change adaptation, disaster risk reduction, and social and environmental protection. International and regional cooperation needs to be enhanced to address transboundary and emerging risks, such as glacial lake outburst floods, sea-level rise and sand and dust storms, as well as extreme heat in line with the UN Secretary-General’s Call to Action on Extreme Heat.
    4. Invest in prevention: Increasing funding for disaster risk reduction is crucial to generate benefits across the development, humanitarian and climate agendas. This includes funds from domestic public budgets and climate finance, also leveraging innovative mechanisms with the private The Fourth International Conference on Financing for Development is an opportunity to scale this up. International funding and technical assistance, as mutually agreed, should be enhanced for the most at-risk developing countries, as well as countries in fragile and conflict settings. Capacity building for disaster risk management can be reinforced through the Santiago network.
    5. Risk-inform all investments: When disaster risks are ignored, even the most ambitious development projects are likely to Public and private investments should be guided by a thorough understanding of disaster risk. For example, investment in the resilience of the education sector has a multiplier effect. Implementing the Comprehensive School Safety Framework will help protect children and youth from disasters.
    6. Scale-up early warning systems: Despite their value in reducing disaster deaths, nearly half of the world still lacks MHEWS. Achieving ‘Early Warnings for All’ requires increased international support and national ownership. Moreover, investing in anticipatory action, social safety nets and combating inequality can minimise disaster impacts and expedite
    7. Leave no one behind: All members of society can be leaders and agents for resilience. Governments and stakeholders should ensure full-scale implementation of the Sendai Gender Action Plan, the Global Children and Youth Call to Action and recommendations for accelerating disability inclusion.
    8. Prepare to ‘Build Back Better’: The Priority Actions to Enhance Readiness for Resilient Recovery provide a guide for countries to better plan how they will Build Back Better after Moreover, recovery efforts should be inclusive to address social and cultural needs.

    Download the Co-Chairs’ Summary 

    MIL OSI United Nations News –

  • India building alternative rare earth supply chain amid curbs China curbs: Piyush Goyal

    Source: Government of India

    Source: Government of India (4)

    Commerce and Industry Minister Piyush Goyal on Monday described China’s rare earth export restrictions as a global “wake-up call,” underscoring India’s efforts to build alternative supply chains and position itself as a reliable partner for international businesses seeking to reduce dependence on Chinese suppliers.

    Speaking to reporters during his official visit to Switzerland—where he met with Swiss government officials and business leaders—Goyal acknowledged that China’s export curbs would pose short-term challenges for India’s automotive and white goods sectors.

    However, he expressed confidence that collaborative efforts among the government, industry, and innovators would turn these challenges into long-term opportunities.

    The minister outlined a multi-pronged strategy to address the crisis. This includes diplomatic engagement through ongoing dialogue between the Indian embassy and Chinese authorities, as well as the commerce ministry’s push to identify alternative sources. The government is also strengthening Indian Rare Earths Limited by providing resources to accelerate domestic production.

    “This situation serves as a wake-up call for all those who have become over-reliant on certain geographies,” Goyal said. “It’s a wake-up call for the whole world—you need trusted partners in your supply chain.”

    India’s automotive industry has requested the government’s assistance in expediting the approval process for importing rare earth magnets from China—critical components used in passenger vehicles and various automotive applications.

    China currently controls over 90% of global magnet production capacity, creating substantial vulnerabilities across industries. These materials are essential to sectors ranging from automobiles and home appliances to clean energy systems.

    The new Chinese regulations, effective April 4, require special export licenses for seven rare earth elements and related magnetic products.

    “There are clearly issues around the suspension of permanent magnet supplies from China to India, which will particularly affect our auto sector and several white goods manufacturers,” Goyal explained. “Some companies have submitted their applications, and we hope pragmatic considerations will prevail, allowing them to receive the necessary approvals.”

    Asked about possible government support through production-linked incentive (PLI) schemes, Goyal shared that discussions with automotive manufacturers have been encouraging.

    The companies have expressed strong confidence in addressing supply chain challenges through partnerships with domestic innovators and startups.

    “They are actively engaging with our innovators and startups, indicating their willingness to provide funding or pricing adjustments to accelerate growth in this sector,” the minister said.

    Goyal also praised the evolving mindset of Indian industry, noting a shift away from reliance on government subsidies.

    “More and more Indian businesses are moving beyond the old belief that subsidies alone will sustain operations. They are becoming bigger and bolder in their approach,” he said.

    The minister highlighted emerging technologies being developed in India as potential alternatives to Chinese rare earth supplies.

    “There are some technologies that India is developing,” he noted, stressing the importance of the collaborative approach among government, industry, startups, and innovators. “We are all working as a team and remain confident that, while short-term challenges exist, we will emerge as winners in the medium to long term.”

    Goyal concluded by framing the current disruption as a strategic opportunity for India’s manufacturing ecosystem. He believes it will accelerate the push for self-reliance and the formation of trustworthy global supply chain partnerships.

    “There is opportunity even in this crisis,” he said. “More and more companies and people in India will realise the importance of being self-reliant and having trusted partners in supply chains. The world increasingly wants India to be a part of their supply chains, because we are seen as a trusted partner.”

    (ANI)

  • MIL-OSI: EBC Financial Group and Brokeree Solutions Forge Strategic Knowledge Partnership to Empower Global Trading Community

    Source: GlobeNewswire (MIL-OSI)

    LONDON, June 09, 2025 (GLOBE NEWSWIRE) — EBC Financial Group (EBC), a global leader in financial brokerage and asset management, is proud to announce a strategic knowledge partnership with Brokeree Solutions, a cutting-edge technology provider serving multi-asset brokers worldwide. This collaboration marks a significant milestone in EBC’s mission to build a transparent, education-driven investment community, bringing together two industry leaders to share expertise, innovative technologies, and actionable insights for the benefit of traders and investors around the globe.

    At the heart of this partnership is a joint commitment to knowledge sharing, with a strong focus on copy trading, a fast-evolving space that empowers both novice and seasoned traders. EBC and Brokeree will co-develop educational content and practical insights tailored to traders, brokers, and signal providers, helping them apply effective risk management tools, adopt best practices, and enhance their overall trading performance.

    “At EBC Financial Group, our mission is to build a transparent, inclusive investment community where traders are empowered through access to the right tools, insights, and education,” said David Barrett, CEO of EBC Financial Group (UK) Ltd. “This knowledge partnership with Brokeree Solutions goes beyond technology — it’s about leveraging shared expertise to create a more confident, results-driven trading environment. Together, we’re building a platform where both new and experienced traders can learn, grow, and thrive.”

    A Technology-Backed Knowledge Partnership

    Brokeree Solutions contributes its turnkey Social Trading investment system, enabling users to register as either professional traders or followers directly through a broker’s platform. The system features advanced stop-loss/take-profit controls, proportional trade copying, and symbol-specific signal filtering, all designed to support safe, flexible trading.

    EBC complements this with its global market expertise, investor-centric approach, and commitment to transparency, helping traders understand and apply copy trading as an educational tool, especially valuable in today’s complex financial landscape. By making professional-level tools accessible to a wider audience, the partnership transforms copy trading into a gateway for skill development and market participation.

    Content and Webinar Series to Strengthen Trading Knowledge

    As part of this knowledge-driven collaboration, EBC and Brokeree are introducing a monthly article series starting this May, covering a wide range of trading and investment topics. These insights will be designed to address real-world challenges faced by traders and provide actionable strategies to improve performance, risk control, and decision-making. Each article will tap into the shared expertise of both companies and will be published across digital channels to benefit the wider trading community.

    Additionally, the partnership will feature a quarterly webinar series, bringing traders, brokers, and signal providers together for deep-dive discussions on high-impact topics. The first webinar, launching soon, will explore Risk Management, a critical area for both individual and institutional traders. The session will examine practical techniques, platform-level risk tools, and best practices to help participants strengthen their trading discipline and capital protection.

    These initiatives aim not only to educate but also to foster engagement and dialogue within the trading community, ensuring that knowledge flows both ways, from experts to users, and from the front lines of trading back to those shaping the technology and strategy.

    “We value our clients’ trust in our technology and expertise. The partnership will provide traders and signal providers worldwide to examine advanced copy trading features that will help adjust copy trading strategy and increase the efficiency of risk management tools applied,” said Tatiana Pilipenko, Regional Head of Business Development (APAC, UK, Americas) at Brokeree Solutions. “This platform empowers brokers to cultivate a more inclusive and risk-informed trading environment, ultimately driving growth and strengthening relationships with trading communities.”
    This knowledge partnership underscores the shared vision of EBC and Brokeree: a future where technology, education, and transparency converge to empower traders worldwide. As financial markets grow increasingly complex, the collaboration aims to equip every trader – from beginners to experts – with the tools, confidence, and understanding they need to make smarter, more informed decisions.

    Through these collaborations, EBC and Brokeree are not just advancing the future of copy trading, they are laying the foundation for a more informed, connected, and resilient investment community.

    For more information on EBC and Brokeree, please visit https://www.ebc.com. and brokeree.com.

    Disclaimer:

    Trading Contracts for Difference (CFDs) entails a substantial risk of swift financial loss due to leverage, rendering it inappropriate for all investors; thus, a thorough evaluation of your investment objectives, expertise, and risk appetite is imperative prior to engagement.

    About EBC Financial Group  
    Founded in London’s esteemed financial district, EBC Financial Group (EBC) is renowned for its expertise in financial brokerage and asset management. With offices in key financial hubs—including London, Sydney, Hong Kong, Singapore, the Cayman Islands, Bangkok, Limassol, and emerging markets in Latin America, Asia, and Africa—EBC enables retail, professional, and institutional investors to access a wide range of global markets and trading opportunities, including currencies, commodities, shares, and indices.   

    Recognised with multiple awards, EBC is committed to upholding ethical standards and these subsidiaries are licensed and regulated within their respective jurisdictions. EBC Financial Group (UK) Limited is regulated by the UK’s Financial Conduct Authority (FCA); EBC Financial Group (Cayman) Limited is regulated by the Cayman Islands Monetary Authority (CIMA); EBC Financial Group (Australia) Pty Ltd, and EBC Asset Management Pty Ltd are regulated by Australia’s Securities and Investments Commission (ASIC);  EBC Financial (MU) Ltd is authorised and regulated by the Financial Services Commission Mauritius (FSC).  

    At the core of EBC are a team of industry veterans with over 40 years of experience in major financial institutions. Having navigated key economic cycles from the Plaza Accord and 2015 Swiss franc crisis to the market upheavals of the COVID-19 pandemic. We foster a culture where integrity, respect, and client asset security are paramount, ensuring that every investor relationship is handled with the utmost seriousness it deserves.   

    As the Official Foreign Exchange Partner of FC Barcelona, EBC provides specialised services across Asia, LATAM, the Middle East, Africa, and Oceania. Through its partnership with the UN Foundation and United to Beat Malaria, the company contributes to global health initiatives. EBC also supports the ‘What Economists Really Do’ public engagement series by Oxford University’s Department of Economics, helping to demystify economics and its application to major societal challenges, fostering greater public understanding and dialogue.  

    https://www.ebc.com/ 

    About Brokeree Solutions

    Founded in 2013, Brokeree Solutions has consistently enhanced the technologies for multi-asset brokers worldwide. Leveraging extensive experience, the company contributed to the fintech area of the online trading industry by developing innovative solutions, streamlining operational procedures, and setting up advanced risk management systems.

    Brokeree’s flagship offerings include cross-platform Social Trading, Prop Pulse, Liquidity Bridge, and cross-server PAMM. Additionally, Brokeree provides over 50 solutions and tools designed to help brokers enhance their operations in areas such as account management, risk management, and liquidity management, accessible to brokers using MT4, MT5, cTrader, and DXtrade CFD trading platforms.

    brokeree.com

    Media Contact:
    Savitha Ravindran
    Global Public Relations Manager
    savitha.ravindran@ebc.com

    Michelle Siow
    Brand & Communications Director
    michelle.siow@ebc.com  

    The MIL Network –

  • MIL-OSI: BEN Reports First Quarter 2025 Results and Business Highlights

    Source: GlobeNewswire (MIL-OSI)

    WILMINGTON, Del., June 09, 2025 (GLOBE NEWSWIRE) — Brand Engagement Network Inc. (BEN) (NASDAQ: BNAI), an innovator in AI-driven customer engagement solutions, today announced its results and key business highlights for the first quarter ended March 31, 2025.

    “Q1 marked a strong start to 2025, as we launched our iSKYE platform and deepened strategic partnerships that demonstrate the growing demand for secure, scalable AI solutions,” said Paul Chang, CEO of Brand Engagement Network. “We’ve enhanced our platform with features that deliver greater accuracy and relevance for users, while providing the control and engagement enterprise clients want. Looking ahead, iSKYE’s modular architecture positions us to easily support new industries and applications. This flexibility opens doors to larger opportunities and broader AI-powered engagement across diverse sectors.”

    Q1 2025 Key Business Highlights:

    • iSKYE AI Platform Launch: BEN has officially launched the iSKYE platform, offering businesses a customizable, scalable solution to integrate AI with existing business processes, inject a rules engine to manage the interactions, and provide full control of the user experience. Key capabilities include customizable 3D avatars, low-cost deployment, enterprise-grade security, and the ability to mitigate AI hallucinations while integrating seamlessly into existing systems.
    • Global AI Insurance Partnership with Swiss Life: BEN partnered with Swiss Life Global Solutions to deliver secure, scalable generative AI solutions that enhance digital health, mental health, and financial wellbeing services. The collaboration aims to streamline insurance sales, reduce call center volume, and improve member services with AI-powered tools.
    • Expanded Partnership with Vybroo and Grupo Siete: BEN expanded its partnership with Vybroo and Grupo Siete to deploy AI-powered brand ambassadors and voice agents across Latin America and Southern Europe, enhancing its digital media presence and unlocking new revenue opportunities in high-growth markets.
    • Advocating for Responsible AI Privacy Standards: BEN supported and advised on California Assembly Member Carl DeMaio’s proposed AI data privacy legislation bill, which aims to prevent the offshore storage of sensitive user data and underscores the Company’s commitment to secure, closed-loop AI systems focused on trust and compliance.

    Conference Call and Webcast Information
    The Company will host a conference call and webcast tomorrow, Tuesday, June 10, 2025, at 6:00 p.m. ET. CEO Paul Chang and CFO and COO Walid Khiari will lead the call and provide an overview of the company’s financial performance, key business highlights, and strategic outlook.

    Participants can register here to access the live webcast of the conference call. Those who prefer to join the call via phone can register using this link to receive a dial-in number and unique PIN.

    The webcast will be archived for one year following the conference call and can be accessed on BEN’s investor relations website at https://investors.beninc.ai/.

    About Brand Engagement Network (BEN)
    Brand Engagement Network Inc. (NASDAQ: BNAI) innovates in AI-powered customer engagement, delivering safe, intelligent, and scalable solutions. Its proprietary Engagement Language Model (ELM™) and Retrieval-Augmented Generation (RAG) architecture enable highly personalized interactions supported by customers’ curated data in closed-loop environments. BEN develops AI-driven engagement solutions for the life sciences, automotive, and retail industries, featuring AI-powered avatars for outbound campaigns, inbound customer service, and real-time recommendations. With a global AI research and development team, BEN provides secure cloud-based or on-premises deployments, granting complete control of the technology stack and ensuring compliance with GDPR, CCPA, HIPAA, and SOC 2 Type 1 standards. The company holds 21 patents, with 28 pending, demonstrating its commitment to advancing AI-driven consumer engagement. For more information, visit www.beninc.ai.

    Forward-Looking Statements
    This communication contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are not historical facts, and involve risks and uncertainties that could cause actual results of BEN to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “anticipates,” “believes,” “continue,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “projects,” “should,” “will,” or “would,” or, in each case, their negative or other variations or comparable terminology.
    These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside BEN’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: uncertainties as to the timing of the acquisition with Cataneo Gmbh (the “Acquisition”); the risk that the Acquisition may not be completed on the anticipated terms in a timely manner or at all; (the failure to satisfy any of the conditions to the consummation of the Acquisition, including the ability to obtain financing to fund the Acquisition on terms that are acceptable or at all; the possibility that any or all of the various conditions to the consummation of the Acquisition may not be satisfied or waived; the occurrence of any event, change or other circumstance that could give rise to the termination of the purchase agreement; the effect of the announcement or pendency of the transactions contemplated by the purchase agreement on the Company’s ability to retain and hire key personnel, its ability to maintain relationships with its customers, suppliers and others with whom it does business, or its operating results and business generally; risks related to diverting management’s attention from the Company’s ongoing business operations; uncertainty as to the timing of completion of the Acquisition; risks that the benefits of the Acquisition are not realized when and as expected; risks relating to the uncertainty of the projected financial information with respect to BEN; uncertainty regarding and the failure to realize the anticipated benefits from future production-ready deployments; the attraction and retention of qualified directors, officers, employees and key personnel; our ability to grow our customer base; BEN’s history of operating losses; BEN’s need for additional capital to support its present business plan and anticipated growth; technological changes in BEN’s market; the value and enforceability of BEN’s intellectual property protections; BEN’s ability to protect its intellectual property; BEN’s material weaknesses in financial reporting; BEN’s ability to navigate complex regulatory requirements; the ability to maintain the listing of BEN’s securities on a national securities exchange; the ability to implement business plans, forecasts, and other expectations; the effects of competition on BEN’s business; and the risks of operating and effectively managing growth in evolving and uncertain macroeconomic conditions, such as high inflation and recessionary environments. The foregoing list of factors is not exhaustive.
    BEN cautions that the foregoing list of factors is not exclusive. BEN cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. BEN does not undertake nor does it accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, and it does not intend to do so unless required by applicable law. Further information about factors that could materially affect BEN, including its results of operations and financial condition, is set forth under “Risk Factors” in BEN’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q subsequently filed with the Securities and Exchange Commission.

    Media Contact 
    Amy Rouyer
    P: 503-367-7596
    E: amy@beninc.ai

    Investor Relations
    Susan Xu
    P: 778-323-0959
    E: sxu@allianceadvisors.com

    The MIL Network –

  • MIL-OSI Economics: New handhelds combine the power of Xbox with the freedom of Windows 11

    Source: Microsoft

    Headline: New handhelds combine the power of Xbox with the freedom of Windows 11

    Together, we’ve combined our strengths and technical expertise to introduce something entirely new: the ROG Xbox Ally and ROG Xbox Ally X. These handhelds are built to make it easier than ever to access your favorite games—from Xbox, Battle.net, and other leading PC storefronts—all from a single device.

    This holiday, with ASUS, players can discover another way to play as we combine the power of Xbox with the freedom you expect from Windows. And this is only the beginning.

    Meet the ROG Xbox Ally and ROG Xbox Ally X

    • ROG Xbox Ally: The essential handheld at a great value for everyone from the casual player to the avid enthusiast.
    • ROG Xbox Ally X: The ultimate high-performance handheld, built for the most demanding players.

    Both handhelds allow players to play natively, via the cloud, or remotely with their Xbox console in another room.

    Next-Level Features Designed for Play Anywhere

    With the Xbox Ally and Xbox Ally X, players can look forward to an approachable gaming experience that travels with you wherever you go, featuring several new and first-of-their kind features on both devices—from an immersive Xbox full screen experience, an aggregated gaming library with access to installed games from leading PC storefronts, and more.

    We’ve optimized Windows 11 to be easy to use on the Xbox Ally and Xbox Ally X from the moment you power on. Game Bar makes it easy to return home, browse your library, launch or quit games, chat with friends, open apps, adjust settings, and more. Now, with the integration of ASUS’s innovative Armoury Crate, Game Bar also gives you streamlined access to advanced device and input controls. Details like the lock screen and task switcher have also been adjusted for easy navigation with a controller.

    Because these handhelds run Windows, you have access to games you can’t get elsewhere, so you can enjoy the full freedom and versatility of PC gaming—download games from your favorite storefront, run apps like Discord, watch your favorite streamers on Twitch, and play with your favorite mods—all straight from the Xbox experience. The choice is yours.

    Introducing the Xbox Experience for Handheld

    When you power on your Xbox Ally, you’ll boot directly into the Xbox full screen experience, a new feature optimized specifically for handheld gaming. With new modifications that minimize background activity and defer non-essential tasks, more system resources are dedicated specifically to gameplay. That means more memory, higher framerates, and a fully immersive experience for players—all made possible by the versatility and freedom of Windows.

    The Xbox Ally has more familiar Xbox touches, including:

    • Xbox button: With a dedicated Xbox button, players have access to chat, apps, and settings through an enhanced Game Bar overlay, allowing you to quickly switch between running apps and games.
    • Contoured grips: Created with player comfort in mind, and using the same design principles as Xbox Wireless Controllers, the Xbox Ally and Xbox Ally X feature contoured handgrips to accommodate a wider range of hand sizes.
    • Accessibility features: Game Bar and the Xbox app have also been optimized for handheld use, bringing along familiar accessibility features from Xbox consoles and Windows PCs, with much more to come in future.

    Easy Access to Games from Xbox, Leading PC Storefronts, and More

    Locating and accessing games across multiple channels can be a challenge —navigating through various browsers, storefronts, and login credentials can sometimes make gaming feel anything but fun. But with the Xbox Ally and Xbox Ally X, getting into the fun is easier and faster than ever.

    Within the Xbox full screen experience, players will see their aggregated gaming library, giving them quick access to games from Xbox, Game Pass, Battle.net, and other leading PC storefronts. With this new feature, your Xbox library, hundreds of Game Pass titles (membership required), and all your installed games from other PC game stores are always at your fingertips.

    We’re also making handheld gaming more seamless through our investment in Xbox Play Anywhere. With support for over 1,000 games, a single purchase means you can play with Xbox, including your progress and achievements, across Xbox console, PC and Xbox Ally—at no additional cost. And when you power on your Xbox Ally or Xbox Ally X, your favorite games are already there, ready to play. Whether you’ve been gaming on Xbox console, Xbox on PC, or in the cloud, everything syncs effortlessly. With Xbox Cloud Gaming (Beta) or Remote Play, you can access your full Xbox console library and keep playing—wherever you are.

    And yes…there’s still even more to come:

    • We’re excited to partner with Roblox for the launch of Xbox Ally. For the first time ever, Roblox will be playable natively and optimized for gaming handhelds, enabling players to play with millions of people and discover a variety of immersive games on day one.
    • We are working closely with our game developer partners on a brand-new program designed to help players easily identify which games have been optimized for handhelds, including the Xbox Ally and Xbox Ally X. We will share more details soon. 
    • Players who purchase an Xbox Ally or Xbox Ally X and are new to Game Pass will also be able to get started at no additional cost, accessing hundreds of games like Balatro, Gears Tactics, Vampire Survivors and more, straight from your device.
    • Players on either device will be able to tap into Gaming Copilot via Game Bar, a personalized gaming companion that helps you get to your favorite games faster, improve your skills, and connect you with your friends and communities.

    Two Great Choices & A First Look at Specs

    The Xbox Ally and Xbox Ally X are perfect for players looking to take an approachable gaming experience with you during travels— whether it’s between airports, or between the comfiest chairs in the living room.

    Both handhelds run on AMD processors that deliver premium gaming performance, immersive visuals, and more.

    The Xbox Ally offers great value for anyone looking to take their favorite games wherever they want to play, whether it’s Clair Obscur: Expedition 33, Gears of War: Reloaded, Lies of P, South of Midnight, or many more. It’s powered by the AMD Ryzen Z2 A Processor—balancing performance and power consumption to maximize battery life without sacrificing gameplay quality—16GB of RAM and 512GB of SSD storage.

    The Xbox Ally X offers more for players looking to get the best level of performance and visual settings from their favorite games on a handheld. It features the AMD Ryzen AI Z2 Extreme processor—allowing us to power the latest AI features as they are introduced— double the storage to have more native games at your fingertips, and 24GB of high-speed RAM that more demanding games crave. The Xbox Ally X also features impulse triggers for more immersive play.

    Here’s how the specs compare between the Xbox Ally and Xbox Ally X:

        ROG Xbox Ally   ROG Xbox Ally X  
    Operating System   Windows 11 Home   Windows 11 Home  
     Comfort & input    Contoured grips inspired by Xbox Wireless Controllers deliver all-day comfort. ABXY buttons / D-pad / L & R Hall Effect analog triggers / L & R bumpers / Xbox button / View button / Menu button / Command Center button / Library button / 2x assignable back buttons / 2x full-size analog sticks / HD haptics / 6-Axis IMU   Contoured grips inspired by Xbox Wireless Controllers deliver all-day comfort, complete with impulse triggers for enhanced control.  ABXY buttons / D-pad / L & R impulse triggers / L & R bumpers / Xbox button / View button / Menu button / Command Center button / Library button / 2x assignable back buttons / 2x full-size analog sticks / HD haptics / 6-Axis IMU  
    Processor   AMD Ryzen Z2 A Processor   AMD Ryzen AI Z2 Extreme Processor  
    Memory   16GB LPDDR5X-6400   24GB LPDDR5X-8000  
    Storage   512GB M.2 2280 SSD for easier upgrade   1TB M.2 2280 SSD for easier upgrade  
    Display   7” FHD (1080p) IPS, 500 nits, 16:9  
    120Hz refresh rate  
    FreeSync Premium  
    Corning Gorilla Glass Victus + DXC Anti-Reflection     		 7” FHD (1080p) IPS, 500 nits, 16:9  
    120Hz refresh rate  
    FreeSync Premium  
    Corning Gorilla Glass Victus + DXC Anti-Reflection 
    I/O Ports   2x USB 3.2 Gen 2 Type-C with DisplayPort 1.4 / Power Delivery 3.0   1x USB4 Type-C with DisplayPort 2.1 / Power Delivery 3.0, Thunderbolt 4 compatible  
    1x UHS-II microSD card reader (supports SD, SDXC and SDHC)   1x USB 3.2 Gen 2 Type-C with DisplayPort 2.1 / Power Delivery 3.0  
    1x 3.5mm Combo Audio Jack   1x UHS-II microSD card reader (supports SD, SDXC and SDHC; UHS-I with DDR200 mode)  
        1x 3.5mm Combo Audio Jack  
    Network and Communication   Wi-Fi 6E (2 x 2) + Bluetooth 5.4   Wi-Fi 6E (2 x 2) + Bluetooth 5.4  
    Dimensions   290.8*121.5*50.7mm   290.8*121.5*50.7mm  
    670g   715g  
    Battery   60Wh   80Wh  
    Included   ROG Xbox Ally  65W charger  Stand   ROG Xbox Ally X  65W charger  Stand  

    Pre-orders, Pricing, Accessories and More – Coming Soon

    At launch this holiday, the Xbox Ally and Xbox Ally X will be available in Australia, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, Korea, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, Saudi Arabia, Singapore, Spain, Sweden, Switzerland, Thailand, Turkey, the United Arab Emirates, the United Kingdom, and the United States, with availability to follow for other markets where ROG Ally series products are sold today.

    But that’s not the only thing to look forward to. In the coming months, we’ll share even more details about the Xbox Ally and Xbox Ally X, including pricing, compatible accessories, and pre-orders. Interested in pre-ordering? Please sign up here to be notified when pre-orders go live.

    We can’t wait to share more about the Xbox Ally and Xbox Ally X. Thank you for joining us on this journey as we continue to fulfil our vision of delivering a consistent, approachable gaming experience anywhere—and meeting more players where you want to be.

    MIL OSI Economics –

  • MIL-OSI Banking: New handhelds combine the power of Xbox with the freedom of Windows 11

    Source: Microsoft

    Headline: New handhelds combine the power of Xbox with the freedom of Windows 11

    Together, we’ve combined our strengths and technical expertise to introduce something entirely new: the ROG Xbox Ally and ROG Xbox Ally X. These handhelds are built to make it easier than ever to access your favorite games—from Xbox, Battle.net, and other leading PC storefronts—all from a single device.

    This holiday, with ASUS, players can discover another way to play as we combine the power of Xbox with the freedom you expect from Windows. And this is only the beginning.

    Meet the ROG Xbox Ally and ROG Xbox Ally X

    • ROG Xbox Ally: The essential handheld at a great value for everyone from the casual player to the avid enthusiast.
    • ROG Xbox Ally X: The ultimate high-performance handheld, built for the most demanding players.

    Both handhelds allow players to play natively, via the cloud, or remotely with their Xbox console in another room.

    Next-Level Features Designed for Play Anywhere

    With the Xbox Ally and Xbox Ally X, players can look forward to an approachable gaming experience that travels with you wherever you go, featuring several new and first-of-their kind features on both devices—from an immersive Xbox full screen experience, an aggregated gaming library with access to installed games from leading PC storefronts, and more.

    We’ve optimized Windows 11 to be easy to use on the Xbox Ally and Xbox Ally X from the moment you power on. Game Bar makes it easy to return home, browse your library, launch or quit games, chat with friends, open apps, adjust settings, and more. Now, with the integration of ASUS’s innovative Armoury Crate, Game Bar also gives you streamlined access to advanced device and input controls. Details like the lock screen and task switcher have also been adjusted for easy navigation with a controller.

    Because these handhelds run Windows, you have access to games you can’t get elsewhere, so you can enjoy the full freedom and versatility of PC gaming—download games from your favorite storefront, run apps like Discord, watch your favorite streamers on Twitch, and play with your favorite mods—all straight from the Xbox experience. The choice is yours.

    Introducing the Xbox Experience for Handheld

    When you power on your Xbox Ally, you’ll boot directly into the Xbox full screen experience, a new feature optimized specifically for handheld gaming. With new modifications that minimize background activity and defer non-essential tasks, more system resources are dedicated specifically to gameplay. That means more memory, higher framerates, and a fully immersive experience for players—all made possible by the versatility and freedom of Windows.

    The Xbox Ally has more familiar Xbox touches, including:

    • Xbox button: With a dedicated Xbox button, players have access to chat, apps, and settings through an enhanced Game Bar overlay, allowing you to quickly switch between running apps and games.
    • Contoured grips: Created with player comfort in mind, and using the same design principles as Xbox Wireless Controllers, the Xbox Ally and Xbox Ally X feature contoured handgrips to accommodate a wider range of hand sizes.
    • Accessibility features: Game Bar and the Xbox app have also been optimized for handheld use, bringing along familiar accessibility features from Xbox consoles and Windows PCs, with much more to come in future.

    Easy Access to Games from Xbox, Leading PC Storefronts, and More

    Locating and accessing games across multiple channels can be a challenge —navigating through various browsers, storefronts, and login credentials can sometimes make gaming feel anything but fun. But with the Xbox Ally and Xbox Ally X, getting into the fun is easier and faster than ever.

    Within the Xbox full screen experience, players will see their aggregated gaming library, giving them quick access to games from Xbox, Game Pass, Battle.net, and other leading PC storefronts. With this new feature, your Xbox library, hundreds of Game Pass titles (membership required), and all your installed games from other PC game stores are always at your fingertips.

    We’re also making handheld gaming more seamless through our investment in Xbox Play Anywhere. With support for over 1,000 games, a single purchase means you can play with Xbox, including your progress and achievements, across Xbox console, PC and Xbox Ally—at no additional cost. And when you power on your Xbox Ally or Xbox Ally X, your favorite games are already there, ready to play. Whether you’ve been gaming on Xbox console, Xbox on PC, or in the cloud, everything syncs effortlessly. With Xbox Cloud Gaming (Beta) or Remote Play, you can access your full Xbox console library and keep playing—wherever you are.

    And yes…there’s still even more to come:

    • We’re excited to partner with Roblox for the launch of Xbox Ally. For the first time ever, Roblox will be playable natively and optimized for gaming handhelds, enabling players to play with millions of people and discover a variety of immersive games on day one.
    • We are working closely with our game developer partners on a brand-new program designed to help players easily identify which games have been optimized for handhelds, including the Xbox Ally and Xbox Ally X. We will share more details soon. 
    • Players who purchase an Xbox Ally or Xbox Ally X and are new to Game Pass will also be able to get started at no additional cost, accessing hundreds of games like Balatro, Gears Tactics, Vampire Survivors and more, straight from your device.
    • Players on either device will be able to tap into Gaming Copilot via Game Bar, a personalized gaming companion that helps you get to your favorite games faster, improve your skills, and connect you with your friends and communities.

    Two Great Choices & A First Look at Specs

    The Xbox Ally and Xbox Ally X are perfect for players looking to take an approachable gaming experience with you during travels— whether it’s between airports, or between the comfiest chairs in the living room.

    Both handhelds run on AMD processors that deliver premium gaming performance, immersive visuals, and more.

    The Xbox Ally offers great value for anyone looking to take their favorite games wherever they want to play, whether it’s Clair Obscur: Expedition 33, Gears of War: Reloaded, Lies of P, South of Midnight, or many more. It’s powered by the AMD Ryzen Z2 A Processor—balancing performance and power consumption to maximize battery life without sacrificing gameplay quality—16GB of RAM and 512GB of SSD storage.

    The Xbox Ally X offers more for players looking to get the best level of performance and visual settings from their favorite games on a handheld. It features the AMD Ryzen AI Z2 Extreme processor—allowing us to power the latest AI features as they are introduced— double the storage to have more native games at your fingertips, and 24GB of high-speed RAM that more demanding games crave. The Xbox Ally X also features impulse triggers for more immersive play.

    Here’s how the specs compare between the Xbox Ally and Xbox Ally X:

        ROG Xbox Ally   ROG Xbox Ally X  
    Operating System   Windows 11 Home   Windows 11 Home  
     Comfort & input    Contoured grips inspired by Xbox Wireless Controllers deliver all-day comfort. ABXY buttons / D-pad / L & R Hall Effect analog triggers / L & R bumpers / Xbox button / View button / Menu button / Command Center button / Library button / 2x assignable back buttons / 2x full-size analog sticks / HD haptics / 6-Axis IMU   Contoured grips inspired by Xbox Wireless Controllers deliver all-day comfort, complete with impulse triggers for enhanced control.  ABXY buttons / D-pad / L & R impulse triggers / L & R bumpers / Xbox button / View button / Menu button / Command Center button / Library button / 2x assignable back buttons / 2x full-size analog sticks / HD haptics / 6-Axis IMU  
    Processor   AMD Ryzen Z2 A Processor   AMD Ryzen AI Z2 Extreme Processor  
    Memory   16GB LPDDR5X-6400   24GB LPDDR5X-8000  
    Storage   512GB M.2 2280 SSD for easier upgrade   1TB M.2 2280 SSD for easier upgrade  
    Display   7” FHD (1080p) IPS, 500 nits, 16:9  
    120Hz refresh rate  
    FreeSync Premium  
    Corning Gorilla Glass Victus + DXC Anti-Reflection     		 7” FHD (1080p) IPS, 500 nits, 16:9  
    120Hz refresh rate  
    FreeSync Premium  
    Corning Gorilla Glass Victus + DXC Anti-Reflection 
    I/O Ports   2x USB 3.2 Gen 2 Type-C with DisplayPort 1.4 / Power Delivery 3.0   1x USB4 Type-C with DisplayPort 2.1 / Power Delivery 3.0, Thunderbolt 4 compatible  
    1x UHS-II microSD card reader (supports SD, SDXC and SDHC)   1x USB 3.2 Gen 2 Type-C with DisplayPort 2.1 / Power Delivery 3.0  
    1x 3.5mm Combo Audio Jack   1x UHS-II microSD card reader (supports SD, SDXC and SDHC; UHS-I with DDR200 mode)  
        1x 3.5mm Combo Audio Jack  
    Network and Communication   Wi-Fi 6E (2 x 2) + Bluetooth 5.4   Wi-Fi 6E (2 x 2) + Bluetooth 5.4  
    Dimensions   290.8*121.5*50.7mm   290.8*121.5*50.7mm  
    670g   715g  
    Battery   60Wh   80Wh  
    Included   ROG Xbox Ally  65W charger  Stand   ROG Xbox Ally X  65W charger  Stand  

    Pre-orders, Pricing, Accessories and More – Coming Soon

    At launch this holiday, the Xbox Ally and Xbox Ally X will be available in Australia, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, Korea, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, Saudi Arabia, Singapore, Spain, Sweden, Switzerland, Thailand, Turkey, the United Arab Emirates, the United Kingdom, and the United States, with availability to follow for other markets where ROG Ally series products are sold today.

    But that’s not the only thing to look forward to. In the coming months, we’ll share even more details about the Xbox Ally and Xbox Ally X, including pricing, compatible accessories, and pre-orders. Interested in pre-ordering? Please sign up here to be notified when pre-orders go live.

    We can’t wait to share more about the Xbox Ally and Xbox Ally X. Thank you for joining us on this journey as we continue to fulfil our vision of delivering a consistent, approachable gaming experience anywhere—and meeting more players where you want to be.

    MIL OSI Global Banks –

  • MIL-Evening Report: Some economists have called for a radical ‘global wealth tax’ on billionaires. How would that work?

    Source: The Conversation (Au and NZ) – By Venkat Narayanan, Senior Lecturer – Accounting and Tax, RMIT University

    Rudy Balasko/Shutterstock

    Earlier this year, I attended a housing conference in Sydney. The event’s opening address centred on the way Australia seems to be becoming like 18th-century England – a country where inheritance largely determines one’s opportunities in life.

    There has been a lot of media coverage of economic inequities in Australian society. Our tax system has been partly blamed for this problem. The case for long-term, visionary tax reform has never been stronger. And one area of tax reform could be a wealth tax.

    First, let’s be clear about one thing. Unlike the superannuation tax reforms currently being debated for those with more than A$3 million in superannuation, the wealth tax we’re talking about would apply to a very different cohort: billionaires.

    A recent article in the Financial Times re-examined a proposal to impose such a tax on the world’s highest-net-worth individuals. It also pointed out these efforts would need to be globally coordinated.

    Such taxes could collect significant sums of money for governments. It’s previously been estimated a billionaire tax could raise US$250 billion (more than A$380 billion) globally if just 2% of the net worth of the world’s billionaires was taxed each year.

    The case for a wealth tax

    Inequality is on the rise and the argument for a wealth tax can’t be ignored – not least here at home. According to the Australia Institute, the wealth of Australia’s richest 200 people has soared as a percentage of our national gross domestic product (GDP) – from 8.4% in 2004 to 23.7% in 2024.

    If that sounds dramatic, the picture is far worse in the United States. So, what would a wealth tax look like in Australia (noting that in reality a globally coordinated effort would be needed)?

    The starting point for this is understanding of why high-net-worth individuals seemingly pay very low taxes.

    High net worth, low tax rate

    Income taxes only take into account any amounts that are received in the hands of the taxpayer – whether that is a company, a person or a trust.

    Most high-net-worth individuals do not receive much income directly but “store” their wealth in companies and other corporate structures.

    In Australia, the maximum applicable tax rate for companies is 30%. Note that the highest tax rate in Australia for individuals is 45% plus the 2% medicare levy, effectively 47%.

    Assets such as real estate may also be held by companies or trusts, and the increase in value of these assets is not taxed until they are sold (through capital gains tax).

    Even then, those gains may not be paid out directly to the high-net-worth individual who owns these entities.

    Unrealised gains

    So, how do we tax wealth that is sitting in various businesses (company structures) or other entities, but isn’t taxed at present because the “income” or “gains” from these are not taxable in the hands of the wealthy individuals who own them?

    This goes into the murky area of taxation of unrealised gains. Here, we need to tread very carefully. But we also need to recognise that we already do this, albeit rather subtly, and most of us are not billionaires.

    In your rates notice from your local council, for example, the increase in value of your residence or investment property is used to calculate your rates.

    The real difficulty, to carry on with this example, is that your residence or investment property is typically held in your name and so the tax can be directly levied on you.

    A luxury residence in Miami Beach, Florida, owned by Jeff Bezos, founder of Amazon. The US is home to the most billionaires of any country in the world.
    Felix Mizioznikov/Shutterstock

    Making tax unavoidable

    As we’ve already explained, the bulk of the assets or net worth of wealthy individuals is not directly attributable to them. Does this mean we should give up altogether?

    Not quite. UNSW professor Chris Evans has pointed out that while we may not be able to effectively tax all the net worth of the wealthy, there are some things we can tax and they can’t avoid it.

    An obvious example is real estate. You can pack your bags and bank accounts and move to a low-tax country, but you can’t move your mansion overlooking Sydney Harbour.

    Real estate, both residential and commercial, provides one clear way in which we could implement a partial wealth tax. This method (which also has fewer valuation issues than value stored in a company in the form of retained profits) also counters the argument that the wealthy will simply move to other jurisdictions that won’t tax them.

    There is plenty of academic research looking at various wealth tax initiatives in other countries. We should learn from these, including the experience in Switzerland and Sweden.

    In Sweden, for instance, research found the behavioural effects of wealth taxation were less pronounced than those of income taxation, but the system had so many loopholes that evasion was an option for some people.

    Change faces headwinds

    In a very uncertain world that features ongoing wars and an unpredictable US president, any change that seeks to address issues of inequity is going to be met with resistance by those who hold power.

    Some billionaires in the US, however, have expressed their support for being taxed more in a letter signed by heirs to the Disney and Rockefeller fortunes. That offers some hope, and suggests the discussion about wealth taxes should not be relegated to the “too hard” basket.

    Some steps towards taxing the uber-rich would be better than the status quo.

    Venkat Narayanan 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. Some economists have called for a radical ‘global wealth tax’ on billionaires. How would that work? – https://theconversation.com/some-economists-have-called-for-a-radical-global-wealth-tax-on-billionaires-how-would-that-work-257632

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Bellarium Network Launches to Redefine the Future of Decentralized Finance

    Source: GlobeNewswire (MIL-OSI)

    Zurich, Switzerland, June 09, 2025 (GLOBE NEWSWIRE) — A new era in decentralized finance (DeFi) begins with the official launch of Bellarium Network, a blockchain-powered ecosystem focused on providing accessible, secure, and scalable DeFi solutions. With the growing demand for financial autonomy, digital asset control, and global accessibility, Bellarium emerges as a comprehensive platform built to meet the evolving needs of users worldwide.

    A New Standard for DeFi Platforms

    Bellarium Network introduces a streamlined, all-in-one platform designed to unify multiple decentralized services under a single ecosystem. At its core, Bellarium is dedicated to enhancing the usability, reliability, and accessibility of decentralized finance, offering a suite of services that include digital asset management, decentralized trading, crypto payment processing, and future-ready DeFi debit card integration. Unlike fragmented DeFi applications that often confuse users with siloed functionality, Bellarium takes a different approach—one that emphasizes fluid interaction between services, frictionless user experience, and full transparency through blockchain technology.

    Key Features of the Bellarium Ecosystem

    The Bellarium platform is composed of multiple interlinked products and services, each crafted to solve specific challenges faced by users in the decentralized economy. These include:

    Multi-Chain DeFi Wallet: A non-custodial wallet supporting multiple blockchains, allowing users to securely store, manage, and transfer digital assets while retaining full control over private keys.

    Swap Aggregator: Bellarium’s integrated swap feature aggregates the best prices across major decentralized exchanges (DEXs), helping users execute trades at optimal rates without manually comparing platforms.

    AI-Powered P2P Lending: A peer-to-peer lending system enhanced with AI analytics that matches borrowers and lenders efficiently based on real-time risk analysis, credit scoring, and historical transaction data.

    Futures and Options Trading: The platform supports decentralized perpetual futures and options trading, enabling users to engage in hedging and leverage strategies directly from the Bellarium interface.

    Bellarium Pay: A secure, merchant-ready crypto payment gateway that allows online businesses to accept payments in various cryptocurrencies with minimal transaction fees.

    DeFi Debit Cards (Coming Soon): Bellarium plans to introduce virtual and physical DeFi debit cards that will enable users to spend their crypto balances at millions of merchants worldwide, online and in person.

    The Utility of the $BEL Token

    At the heart of the Bellarium Network lies the $BEL token, a utility token designed to power all activities within the ecosystem. From covering transaction fees to providing staking rewards and enabling governance participation, $BEL plays a central role in aligning user incentives with platform growth.

    Token holders will also have the ability to vote on proposals related to the protocol’s future direction, feature development, and ecosystem upgrades—ensuring Bellarium evolves in response to its growing community.

    Commitment to Transparency and Security

    Bellarium’s infrastructure is designed around trustless interactions and user-first architecture. The platform is built using battle-tested smart contracts, audited for security vulnerabilities and optimized for gas efficiency. Moreover, the platform’s roadmap emphasizes continual improvement, with upcoming milestones including multi-chain integrations, merchant onboarding, and further decentralization of governance mechanisms.

    As part of its commitment to transparency, Bellarium provides open access to protocol data, smart contract addresses, and platform metrics. Users are encouraged to engage with the platform through secure wallet connections, without the need for KYC or third-party data sharing. 

    Why Bellarium Stands Out

    While many DeFi projects promise innovation, Bellarium focuses on delivering a real-world user experience that simplifies the often complex world of decentralized finance. By combining essential tools like swapping, lending, and payments under one interface, Bellarium reduces user friction and promotes long-term platform sustainability.

    In addition, Bellarium is built to scale. With its modular architecture and multi-chain compatibility, the network is well-equipped to adapt to changing blockchain standards and user demands. The platform’s use of AI and smart automation further streamlines financial interactions for both retail users and institutional participants.

    Looking Ahead

    The roadmap for Bellarium outlines a clear vision: to become a one-stop destination for anyone seeking intuitive and secure access to decentralized finance. In the months ahead, the platform will continue building strategic partnerships with blockchain infrastructure providers, DEX aggregators, and fintech merchants to expand the reach of Bellarium Pay and increase utility for $BEL holders.

    Through community-driven governance, Bellarium also plans to launch ecosystem incentive programs aimed at rewarding early adopters, liquidity providers, and developers contributing to open-source innovations within the protocol.

    Join the Bellarium Ecosystem

    Bellarium invites users, developers, and DeFi enthusiasts to join its mission to democratize financial access through decentralized infrastructure. Whether you’re managing assets, trading tokens, or seeking to spend your crypto in the real world, Bellarium offers a secure and powerful gateway into the decentralized economy.

    Learn more at www.bellarium.network and follow Bellarium on Twitter for the latest updates.

    The MIL Network –

  • Piyush Goyal begins official visit to Switzerland and Sweden to strengthen trade ties

    Source: Government of India

    Source: Government of India (4)

    Union Minister of Commerce and Industry, Piyush Goyal, commenced his official visit to Switzerland today as part of a five-day tour of Switzerland and Sweden from June 9 to 13. The visit aims to deepen India’s strategic and economic engagements with key European partners, with a focus on promoting trade, investment, and sustainable growth.
     
    The Minister’s visit to Switzerland includes high-level meetings with global CEOs, senior government officials, and prominent Swiss industry leaders. Sector-specific engagements are scheduled in key areas such as pharmaceuticals, life sciences, precision engineering, machine tools, and high-tech manufacturing. Goyal is also set to meet Federal Councillor Guy Parmelin to further bolster bilateral trade and diplomatic ties.
     
    During his stay in Switzerland, Goyal will hold one-on-one discussions with representatives of major Swiss companies. Indian industry leaders will also be part of these meetings, facilitating direct interaction and exploring collaboration opportunities. The Minister will participate in the Swissmem Industry Day and a Business Round Table with the Swiss Mechanical and Electrical (MEM) Industry, where deliberations will focus on the potential of the India-EFTA Trade and Economic Partnership Agreement (TEPA). In addition, he will interact with the ICAI Zurich Chapter and engage with members of the Indian media.
     
    Following his engagements in Switzerland, Shri Goyal will travel to Sweden to co-chair the 21st session of the Indo-Swedish Joint Commission for Economic, Industrial and Scientific Cooperation (JCEISC) alongside Sweden’s Minister for International Development Cooperation and Foreign Trade, Benjamin Dousa.
     
    The visit to Sweden includes bilateral meetings with Dousa and Håkan Jevrell, State Secretary to the Minister of Development Cooperation and Foreign Trade. 
     
    In Sweden, Goyal will also participate in the India-Sweden Business Leaders’ Round Table and engage in one-on-one meetings with top Swedish companies across sectors such as innovation, green technologies, sustainable solutions, and advanced manufacturing. Companies with a strong presence in India or ongoing interest, including Ericsson, Volvo Group, IKEA, Sandvik, Alfa Laval, and SAAB, are expected to take part in these interactions.
     
     

  • MIL-OSI Asia-Pac: Chris Sun attracts talent in Germany

    Source: Hong Kong Information Services

    Secretary for Labour & Welfare Chris Sun concluded a six-day visit to Europe by arriving in Munich to start the final day of his visit to Germany, where he attended pitch event.

    On June 8, Mr Sun officiated at the prize presentation ceremony of the pitch event co-organised by Hong Kong Talent Engage (HKTE) and a local youth entrepreneurship organisation.

    In delivering his remarks, Mr Sun praised the candidates for their business proposals ingeniously integrating with Hong Kong’s strengths and targeting the Asian markets. He highlighted that technology as well as talent are key engines driving the economy and society towards high-quality development.

    As Asia’s world city, Hong Kong is proactively attracting international high-calibre talent to tie in with the development under the strategic positioning of the “eight centres”, so as to inject new impetus into its high-quality development, he added.

    Last November, HKTE visited Germany and established a partnership network with a student association from the Technische Universität München and a local youth entrepreneurship organisation.

    Thereafter, the HKTE collaborated with the organisation to launch the pitch event targeting students from eligible universities under the Top Talent Pass Scheme and young entrepreneurs, inviting talent in Germany with entrepreneurial ambitions and intentions to develop in Asia.

    Nearly 580 proposals for the pitch event were received across various fields, including artificial intelligence, deep tech, climate and sustainability. Twelve winners were selected and will be arranged to tour Hong Kong and other cities in the Guangdong-Hong Kong-Macao Greater Bay Area in September to explore the region’s innovation and technology ecosystem, industry support and entrepreneurial opportunities.

    The HKTE delegation’s visit to Europe also encompasses Switzerland and France. In Switzerland, the delegation exchanged with representatives from three of the world’s top 100 universities, namely the Université de Genève, École Polytechnique Fédérale de Lausanne and EHL Hospitality Business School, and invited two representatives from the hospitality sector in Hong Kong to share insights on the city’s tourism development and opportunities.

    In France, the HKTE co-hosts an event with the Institut Européen d’Administration des Affaires to proactively recruit talent in the finance and commerce sectors to pursue development in Hong Kong.

    During his stay in Germany, Mr Sun also had lunch with the Junior Chamber International Germany and a group of foreign students. He learnt about their lives, introduced Hong Kong’s latest developments and invited them to consider pursuing their development in the city.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: SLW visits Germany to attract I&T talent to Hong Kong (with photos)

    Source: Hong Kong Government special administrative region

         The Secretary for Labour and Welfare, Mr Chris Sun, arrived in Munich to start the final day of his visit to Germany on June 8 (Munich time), concluding the six-day visit to Europe.

         In the afternoon, Mr Sun attended a pitch event co-organised by the Hong Kong Talent Engage (HKTE) and a local youth entrepreneurship organisation, where he officiated at the prize presentation ceremony.

         In delivering his remarks, Mr Sun praised the candidates for their business proposals ingeniously integrating with Hong Kong’s strengths and targeting the Asian markets. He highlighted that technology as well as talent are key engines driving the economy and society towards high-quality development. As Asia’s world city, Hong Kong is proactively attracting international high-calibre talent to tie in with the development under the strategic positioning of the “eight centres”, so as to inject new impetus into its high-quality development.

         Last November, the HKTE visited Germany and established a partnership network with a student association from the Technische Universität München and a local youth entrepreneurship organisation. Thereafter, the HKTE collaborated with the organisation to launch the pitch event targeting students from eligible universities under the Top Talent Pass Scheme and young entrepreneurs, inviting talent in Germany with entrepreneurial ambitions and intentions to develop in Asia.

         Nearly 580 proposals for the pitch event were received across various fields, including artificial intelligence, deep tech, climate and sustainability, as well as health and biotechnology. After two rounds of shortlisting, 25 candidates competed in the finals. The judging panel of the finals included representatives from the Humboldt-Universität zu Berlin and start-up organisations, as well as an innovation and technology (I&T) expert and an angel investor from Hong Kong. Twelve winners were selected and will be arranged to tour Hong Kong and other cities in the Guangdong-Hong Kong-Macao Greater Bay Area in September to explore the region’s I&T ecosystem, industry support and entrepreneurial opportunities.

         The HKTE delegation’s visit to Europe also encompasses Switzerland and France. In Switzerland, the delegation exchanged with representatives from three of the world’s top 100 universities, namely the Université de Genève, École Polytechnique Fédérale de Lausanne and EHL Hospitality Business School, and invited two representatives from the hospitality sector in Hong Kong to share insights on the city’s tourism development and opportunities. In France, the HKTE co-hosts an event with the Institut Européen d’Administration des Affaires (INSEAD) to proactively recruit talent in the finance and commerce sectors to pursue development in Hong Kong.

         During his stay in Germany, Mr Sun also had lunch with the Junior Chamber International Germany and a group of foreign students in Germany. He learned about their lives, introduced the latest development in Hong Kong, and invited them to consider pursuing their development in the city.

         Mr Sun will return to Hong Kong in the evening.

    MIL OSI Asia Pacific News –

  • MIL-OSI: 33/2025・Trifork Group: Weekly report on share buyback

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 33 / 2025
    Schindellegi, Switzerland – 9 June 2025

    Trifork Group: Weekly report on share buyback

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

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

            Number of shares        Average purchase price (DKK)        Transaction value (DKK)
    Total beginning 99,074 87.27 8,646,363
    2 June 2025 1,600 92.95 148,720
    3 June 2025 1,800 92.98 167,364
    4 June 2025 1,800 92.42 166,356
    5 June 2025     Market closed
    6 June 2025 1,800 93.49 168,282
    Accumulated 106,074 87.65 9,297,085

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

    Since the share buyback program was started on 4 March 2025, the total number of repurchased shares is 106,074 at a total amount of DKK 9,297,085.
    On 25 March, 25 April and 23 May 2025, 4,370 shares acquired through the share buyback program were utilized for the Executive Management’s monthly fixed salary, representing a change from cash payment to payment partly in shares (refer to company announcement no. 1 of 21 January 2025). On 1 April 2025, 19,943 shares acquired through the share buyback program were utilized to serve the RSU plan of Executive Management and certain employees.

    With the transactions stated above, Trifork holds a total of 338,090 treasury shares, corresponding to 1.7%. The total number of registered shares in Trifork is 19,744,899. Adjusted for treasury shares, the number of outstanding shares is 19,406,809.


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

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

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    The MIL Network –