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Category: Switzerland

  • MIL-OSI Russia: Chair’s Statement: Fifty-First Meeting of the IMFC – Mr. Mohammed Aljadaan, Minister for Finance of Saudi Arabia

    Source: IMF – News in Russian

    April 25, 2025

    In the context of the Fifty-First Meeting of the IMFC that took place in Washington, D.C. on 24th and 25th April, IMFC members welcomed the ongoing efforts to end wars and conflicts, recognizing that peace is essential to restoring stability and fostering sustainable growth. IMFC members underscored that all states must act in a manner consistent with the Purposes and Principles of the UN Charter in its entirety. They acknowledged, however, that the IMFC is not a forum to resolve geopolitical and security issues which are discussed in other fora.

    The world economy is at a pivotal juncture. Following several years of rising concerns over trade, trade tensions have abruptly soared, fueling elevated uncertainty, market volatility, and risks to growth and financial stability. Near-term growth is projected to slow and intensifying downside risks dominate the outlook. We will step up our efforts to strengthen economic resilience and build a more prosperous future. We underline the critical role of the IMF in helping us navigate this challenging environment, as a trusted advisor and champion of strong policy frameworks. We thank our Deputies for discussing the medium-term direction of the IMF during their meeting in Diriyah, Kingdom of Saudi Arabia on April 6-7, 2025, and we agree on the annexed Diriyah Declaration.

     

    1. The world economy is at a pivotal juncture. Following several years of rising concerns over trade, trade tensions have abruptly soared, fueling elevated uncertainty, market volatility, and risks to growth and financial stability. Near-term growth is projected to slow, while disinflation is expected to continue but at a slower pace. Intensifying downside risks dominate the outlook, in an already challenging context of weak growth and high public debt. Wars and conflicts impose a heavy humanitarian and economic toll. Transformative forces, such as digitalization/artificial intelligence, demographic shifts, and climate transitions are creating opportunities, but also challenges.
    1. We will step up our efforts to strengthen economic resilience and break from the low-growth, high-debt path, while harnessing transformative forces, to build a more prosperous future. Comprehensive and well calibrated, well sequenced, and well communicated reforms and policy actions are needed to boost private sector-led growth, productivity, and job creation. We will pursue sound macroeconomic policies and advance structural reforms to improve the business environment, streamline excessive regulation, fight corruption, and mobilize innovation and technology adoption. We will deepen our pivot toward growth-friendly fiscal adjustments to ensure debt sustainability and rebuild buffers where needed. Fiscal adjustments should be mindful of distributional impacts and underpinned by a credible medium-term consolidation plan, while strengthening the efficiency of public spending, protecting the vulnerable, and supporting growth-enhancing public and private investments, taking into account country circumstances. Central banks remain strongly committed to maintaining price stability, in line with their respective mandates, and will continue to adjust their policies in a data dependent and well-communicated manner. We will continue to closely monitor and, as necessary, tackle financial vulnerabilities and risks to financial stability, while harnessing the benefits of innovation. We will work together to improve the resilience of the world economy and build prosperity and ensure the stability and effective functioning of the international monetary system. We will also work together to address excessive global imbalances, support an open, fair and rules-based international economic order, and reinforce supply chain resilience. We reaffirm our April 2021 exchange rate commitments.
    1. We will continue to support countries as they undertake reforms and address debt vulnerabilities and debt service challenges. We acknowledge the specific challenges faced by low-income and vulnerable countries, including fragile and conflict-affected states (FCS) and small developing states (SDS), which are further compounded by recent decrease in official development assistance. We underline the importance of the Poverty Reduction and Growth Trust. We welcome the progress made on debt treatments under the G20 Common Framework (CF) and beyond. We remain committed to addressing global debt vulnerabilities in an effective, comprehensive, and systematic manner, including further stepping up the CF’s implementation in a predictable, timely, orderly, and coordinated manner, and enhancing debt transparency. We look forward to further work at the Global Sovereign Debt Roundtable on ways to address debt vulnerabilities and restructuring challenges. We encourage the IMF and the World Bank to help advance the implementation of the 3-pillar approach to address debt service pressures in countries with sustainable debt, including through supporting them to implement growth-enhancing reforms, mobilize domestic resources, and attract private capital. We look forward to the review of the Low-Income Country Debt Sustainability Framework (LIC-DSF).
    1. We welcome the Managing Director’s Global Policy Agenda.
    1. We support further sharpening the focus of surveillance based on analytical rigor, evenhandedness, and tailored policy advice. We welcome a strong focus on helping countries strengthen their economic resilience and achieve macroeconomic and financial stability and sustainable growth by increasing productivity, addressing macro-critical risks, reducing excessive imbalances, achieving debt sustainability, and mitigating disruptive capital flows and exchange rate volatility. We look forward to the Comprehensive Surveillance Review that will set future surveillance priorities and modalities; and the Review of Financial Sector Assessment Programs to keep financial surveillance in step with evolving financial stability risks.
    1. We look forward to the Review of Program Design and Conditionality to strengthen further the effectiveness of IMF-supported programs and to the Review of the Short-Term Liquidity Line. We also look forward to the assessment of the Global Financial Safety Net, including the role of Regional Financing Arrangements (RFAs), and its ability to safeguard global financial stability.
    1. We support efforts to further strengthen capacity development and to ensure the sustainability of financing. We welcome the IMF’s ongoing work with the World Bank on the Joint Domestic Resource Mobilization Initiative. We welcome a more flexible and tailored delivery, better integrated with policy advice and program design, as set out in the 2024 Capacity Development Strategy Review.
    1. We reaffirm our commitment to a strong, quota-based, and adequately resourced IMF at the center of the GFSN. We have advanced the domestic approvals for our consent to the quota increase under the 16th General Review of Quotas and we look forward to the finalization of this process as soon as possible. We recognize that realignment in quota shares should aim at better reflecting members’ relative positions in the world economy, while protecting the voice of the poorest members. We acknowledge, however, that building consensus among members on quota and governance reforms will require progress in stages. In this regard, we agree on the annexed Diriyah Declaration on the way forward.
    1. We underline the critical role of the IMF in helping us navigate the current challenging environment, as a trusted advisor and champion of strong policy frameworks. We reaffirm our commitment to the institution and look forward to discussing further ways to ensure the Fund remains agile and focused, working in collaboration with partners and other IFIs. We reiterate our appreciation for staff’s high-quality work and dedication to support the membership and continue to encourage further efforts to improve regional and women’s representation within staff positions, and women’s representation at the Executive Board and in Board leadership positions.
    1. Our next meeting is expected to be held in October 2025.

    Annexed Diriyah Declaration

    Recalling the October 2024 IMFC Chair’s Statement, which stated: “We reiterate our strong commitment to the Fund on its 80th anniversary and look forward to further discussing at our next meeting ways to ensure the Fund remains well-equipped to meet future challenges, in line with its mandate, and in collaboration with partners and other IFIs. We ask our Deputies to prepare for this discussion.”; and

    Drawing on the work advanced by our Deputies, who met in the historic town of Diriyah in the Kingdom of Saudi Arabia on April 6-7, 2025, to prepare for this discussion;

    We thank our Deputies and agree on the following Diriyah Declaration on the way forward with regard to IMFC processes and IMF quota and governance reforms.

    *****

    Enhancing IMFC Processes

    We agree that the IMFC plays a key role in the IMF’s governance structure, offering the IMF Board of Governors trusted advice and providing strategic direction to the work and policies of the Fund through structured, high-level, and consensus-driven policy guidance on all relevant issues.

    To enhance its effectiveness as a forum for effective engagement and consensus-building on complex challenges, we agree to further strengthen IMFC processes. To this end, we welcome recent improvements to the format of the Introductory IMFC session and the use of concise, accessible communiqués to effectively convey key IMFC messages to a broader audience. Moreover, we agree that deputy-level meetings focused on strategic rather than routine issues could support the work of IMFC principals.

    We appreciate the value of engagement across the international financial architecture, including with Regional Financing Arrangements (RFAs), to enhance cooperation and strengthen the resilience of the international monetary system.

     

    Strengthening IMF Governance

    We note that the world economy currently faces significant challenges and agree that the IMF makes a vital contribution to international cooperation, providing a long-established and trusted institution for policy discussions informed by rigorous analysis. We stress that the IMF’s mandate to promote macroeconomic and financial stability remains as relevant as ever, and its role to support members in addressing macroeconomic challenges through analysis and policy advice, capacity development, and financing where relevant, is key. We agree on the need to ensure that the institution remains strong, quota-based, adequately resourced, and efficiently managed to fulfil its mandate at the center of the global financial safety net.

    We agree that a strong, inclusive, and representative governance framework is fundamental to maintaining the Fund’s credibility and legitimacy among its diverse membership. Strengthening IMF governance will support its continued ability to effectively promote consensus among the membership in addressing global challenges. These efforts are also essential to fostering multilateralism and international cooperation.

    Given the strategic importance of governance reforms, we recognize that progress toward consensus should be made in stages. In this context, we agree to develop as a first step a set of general principles to guide future discussions and help foster convergence of views. Work on these principles should be completed in a timely manner to help ensure the efficient progression of future General Reviews of Quotas (GRQs), including under the 17th GRQ. Establishing these guiding principles would help ensure that governance changes are gradual, widely acceptable, and reflective of the interests of the entire membership, as well as maintain the Fund’s financial soundness.

    The Way Forward

    We agree that implementation of the 16th GRQ remains a priority. We recognize that realignment in quota shares should aim at better reflecting members’ relative positions in the world economy, while protecting the voice of the poorest members. To build consensus on future governance reforms, including under the 17th GRQ, we call on the Executive Board to develop, by the 2026 Spring Meetings, a set of principles to guide future discussions on IMF quotas and governance, drawing from the deliberations by IMFC Deputies during their meeting in Diriyah, Kingdom of Saudi Arabia on April 6-7, 2025. We look forward to a discussion of the status of advancement of this work at our next meeting. We ask our Deputies to prepare for this discussion.

    INTERNATIONAL MONETARY AND FINANCIAL COMMITTEE

     ATTENDANCE 

    Chair

    Mohammed Aljadaan, Minister of Finance, Saudi Arabia

    Managing Director

    Kristalina Georgieva

    Members or Alternates

    Ayman Alsayari, Governor of the Saudi Central Bank, Saudi Arabia (Alternate for Mohammed Aljadaan, Minister of Finance, Saudi Arabia)

    Mohammed bin Hadi Al Hussaini, Minister of State for Financial Affairs, United Arab Emirates

    Edgar Amador Zamora, Minister of Finance and Public Credit, Mexico

    Scott Bessent, Secretary of the Treasury, United States

    Edouard Normand Bigendako, Governor, Bank of the Republic of Burundi

    Luis Caputo, Minister of Economy, Argentina

    Tiff Macklem, Governor of the Bank of Canada (Alternate for Francois-Philippe Champagne, Minister of Finance, Canada)

    Sang Mok Choi, Deputy Prime Minister and Minister of Economy and Finance, Republic of Korea

    Giancarlo Giorgetti, Minister of Economy and Finance, Italy

    Gabriel Galipolo, Governor, Central Bank of Brazil (Alternate for Fernando Haddad, Minister of Finance, Brazil)

    Jan Jambon, Deputy Prime Minister and Minister of Finance, Pensions, National Lottery and Federal Culture Institutions, Belgium

    Katsunobu Kato, Minister of Finance, Japan

    Daniela Stoffel, State Secretary for International Finance, Federal Department of Finance, Switzerland (Alternate for Karin Keller-Sutter, Minister of Finance, Switzerland)

    Lesetja Kganyago, Governor, South African Reserve Bank, South Africa

    Jörg Kukies, Federal Minister of the Ministry of Finance, Germany

    François Villeroy de Galhau, Governor of the Bank of France (Alternate for Eric Lombard, Minister for the Economy, Finance and Industrial and Digital Sovereignty, France)

    Adebayo Olawale Edun, Minister of Finance and the Coordinating Minister of the Economy, Nigeria

    Gongsheng Pan, Governor of the People’s Bank of China

    Rachel Reeves, Chancellor of the Exchequer, H.M. Treasury, United Kingdom

    Pavel Snisorenko, Director, Department of International Financial Relations (Alternate for Anton Siluanov, Minister of Finance, Russian Federation)

    Sanjay Malhotra, Governor, Reserve Bank of India (Alternate for Nirmala Sitharaman, Minister of Finance, India)

    Mehmet Simsek, Minister of Treasury and Finance, Republic of Türkiye

    Salah-Eddine Taleb, Governor, Bank of Algeria

    Perry Warjiyo, Governor, Bank of Indonesia

    Ida Wolden Bache, Governor, Bank of Norway

    Observers

    Agustín Carstens, General Manager, Bank for International Settlements (BIS)

    Elisabeth Svantesson, Chair, Development Committee (DC) and Minister for Finance, Sweden

    Christine Lagarde, President, European Central Bank (ECB)

    Valdis Dombrovskis, Commissioner for Economy and Productivity, European Commission (EC)

    Klaas Knot, Chair, Financial Stability Board (FSB) and President of De Nederlandsche Bank

    Celeste Drake, Deputy Director-General, International Labour Organization (ILO)

    Mathias Cormann, Secretary-General, Organisation for Economic Co-operation and Development (OECD)

    Mohannad Alsuwaidan, Economic Analyst, Petroleum Studies Department, Organization of the Petroleum Exporting Countries (OPEC)

    Achim Steiner, UNDP Administrator, United Nations (UN)

    Rebeca Grynspan, Secretary-General, United Nations Conference on Trade and Development (UNCTAD)

    Ajay Banga, President of the World Bank Group, The World Bank (WB)

    Ngozi Okonjo-Iweala, Director-General, World Trade Organization (WTO)

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Wafa Amr

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

    https://www.imf.org/en/News/Articles/2025/04/25/pr-123-imfc-chairs-statement-fifty-first-meeting-of-the-imfc

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: RECEPTION HOSTED BY THE AMBASSADOR OF SWITZERLAND, HE VIKTOR VAVRICKA

    Source:

    REMARKS by the Prime Minister of the Independent State of Samoa, Honourable Fiame Naomi Mata’afa [Wednesday 9 April, 2025]

    Pastor Samoa Unoi,

    Your Excellency, Viktor Vavricka and your good lady,

    Members of the Diplomatic Corps,

    Ladies and Gentlemen,

    Talofa and a pleasant good evening to you all.

    It is a pleasure to join you this evening to celebrate the growing relations between Samoa and Switzerland. In that regard let me extend a very warm welcome to Your Excellency, Ambassador Viktor Vavricka and your good lady. I also congratulate you on your accreditation yesterday as the Ambassador of the Swiss Confederation to Samoa.

    We look forward to working closely with you to further strengthen the connections between our two nations.

    Samoa and Switzerland have enjoyed cordial relationship over four decades underpinned by mutual respect and our shared aspirations for sustainable development.

    Switzerland’s invaluable support has played a crucial role in advancing Samoa’s interests on the global stage. We acknowledge Switzerland’s financial assistance to support the establishment in 2022 of Samoa’s Embassy and Permanent Mission in Geneva, which serves as a vital platform for multilateral diplomacy to engage especially with UN agencies such as WTO, Human Rights, FAO and UNESCO.

    Your country’s generosity in this regard reflects its steadfast commitment to supporting small island developing states in amplifying their voices in the international arena.

    Switzerland’s contribution and investment in the Green Climate Fund GCF) and the Asian Development Bank (ADB) has benefitted Samoa through climate resilient projects for Small island developing states. These projects have continued to significantly assist Samoa in building resilience against climate change, promoting sustainable economic growth, and enhancing our disaster preparedness.

    Excellency, it would be remiss of me not to acknowledge the contribution made by Mrs. Sylvie Salanoa as the Swiss Honorary Consul to Samoa especially through Switzerland’s small grant aid which has benefitted our local community. Her dedication has added to fostering stronger ties between our two nations.

    Excellency, I am assured that your tenure as the Ambassador of Switzerland to Samoa will present new opportunities for collaboration and sustained progress in our relations.

    Ladies and gentlemen, please join me in proposing a toast: “To the close and enduring relations between Samoa and Switzerland”.

    Soifua and God bless.

    Photo by the Government of Samoa (Peseta Tusiga Taofiga)

    MIL OSI Asia Pacific News –

  • MIL-OSI: 23/2025・Trifork Group: Reporting of transactions made by persons discharging managerial responsibilities

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 23 / 2025
    Schindellegi, Switzerland – 25 April 2025

    Reporting of transactions made by persons discharging managerial responsibilities

    Pursuant to the Market Abuse Regulation Article 19, Trifork Group AG (Swiss company registration number CHE-474.101.854) (“Trifork”) hereby notifies receipt of information of the following transactions made by persons discharging managerial responsibilities in Trifork in connection with fixed salaries paid in shares. Reference is made to company announcement no. 1/2025 on 21 January 2025.

    1. Details of the person discharging managerial responsibilities/person closely associated
    a) Name Jørn Larsen
    2. Reason for the notification
    a) Position/status CEO
    b) Initial notification/
    Amendment    		 Initial notification
    3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
    a) Name Trifork Group AG
    b) LEI 8945004BYZKXPESTBL36
    4.1 Details of the transaction(s)
    a) Description of the financial instrument, type of instrument

    Identification code

    		 Shares

    ISIN CH1111227810
    b) Nature of the transaction A share of 25% of the fixed monthly salary is paid out in shares as described in the company announcement no. 1/2025.
    c) Price(s) and volume(s) Price(s) Volume(s)
    DKK 0 1,245
    d) Aggregated information
    —
    Aggregated volume —
    Price    		 N/A
    e) Date of the transaction 25 April 2025
    f) Place of the transaction Outside a trading venue
    1. Details of the person discharging managerial responsibilities/person closely associated
    a) Name Kristian Wulf-Andersen
    2. Reason for the notification
    a) Position/status CFO
    b) Initial notification/
    Amendment    		 Initial notification
    3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
    a) Name Trifork Group AG
    b) LEI 8945004BYZKXPESTBL36
    4.1 Details of the transaction(s)
    a) Description of the financial instrument, type of instrument

    Identification code

    		 Shares

    ISIN CH1111227810
    b) Nature of the transaction A share of 10% of the fixed monthly salary is paid out in shares as described in the company announcement no. 1/2025.
    c) Price(s) and volume(s) Price(s) Volume(s)
    DKK 0 332
    d) Aggregated information
    —
    Aggregated volume —
    Price    		 N/A
    e) Date of the transaction 25 April 2025
    f) Place of the transaction Outside a trading venue

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

    About Trifork
    Trifork is a pioneering global technology partner, empowering enterprise and public sector customers with innovative solutions. With 1,229 professionals across 73 business units in 16 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Labs, the Group’s R&D hub, drives innovation by investing in and developing synergistic and high-potential technology companies. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

    Attachment

    The MIL Network –

  • MIL-OSI USA: Founder and Former CEO of Biscayne Capital Sentenced to 10 Years in Prison for $130M Fraud Scheme

    Source: US State of California

    Roberto Gustavo Cortes Ripalda (Cortes), 58, the co-founder, co-owner, and CEO of international advisory firm Biscayne Capital, was sentenced earlier today in Brooklyn, New York to 10 years in prison for conspiracy to commit wire fraud. Cortes pleaded guilty to the charge in September 2023. Cortes was also ordered to pay $3.4 million in forfeiture and $103million in restitution to over 110 victims.

    “For more than five years, Roberto Cortes and his co-conspirators ran Biscayne Capital as a Ponzi scheme, lying to investors — including the defendant’s own friends and family members — and ultimately causing more than $155 million in investor losses,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “The sentence will hold Cortes accountable for his years of lies and deception. Thank you to our partners for their hard work and collaboration to achieve this result.”   

    “Today’s sentence reflects the seriousness of Roberto Cortes’s criminal conduct in orchestrating a years-long scheme with his co-conspirators to prop up a failing business while defrauding Biscayne Capital investors and clients around the globe,” said U.S. Attorney John J. Durham for the Eastern District of New York. “Using illegal Ponzi payments to their victims, Cortes and his co-conspirators were able to disguise and perpetuate this scheme for years until Biscayne Capital finally collapsed under the defendants’ lies. Today’s sentence demonstrates our Office’s commitment to holding accountable investment professionals who abuse the trust of their clients for personal profit.”

    “Regardless of the complexity of the investigation, IRS Criminal Investigation Special Agents and our law enforcement partners will utilize their skills and unique authorities to hold bad actors like the defendant accountable,” stated IRS-CI Executive Special Agent in Charge Kareem A. Carter.  “This was a brazen scheme of staggering proportions. Mr. Cortes and his co-conspirators prioritized their own greed, stealing $155 million from investors. Today’s sentencing sends a clear message that we remain vigilant and will vigorously pursue those who attempt to enrich themselves through fraudulent means.”

    According to court filings, Cortes and his co-defendant Ernesto Heraclito Weisson Pazmino (Weisson) founded Biscayne Capital in 2005 to support the financing of South Bay, their real estate development business focused on acquiring and demolishing properties to build luxury homes. After South Bay began experiencing financial trouble in 2007, Cortes and Weisson recruited investors to inject funds into South Bay’s operations. Rather than using those investor funds to fund South Bay’s real estate development projects, Cortes, Weisson, and their co-conspirators used the bulk of the funds to pay outstanding interest and principal debt obligations to other investors.

    Cortes and his co-conspirators took numerous steps to perpetuate and conceal the scheme, including distributing investment documents with false and misleading information, deceiving investors about the purpose, risk, return, and security of their investments, and creating and sending fake account statements to unsuspecting clients to conceal the scheme.  By the time the Biscayne Capital/South Bay Ponzi scheme collapsed and Biscayne Capital went into liquidation, Biscayne Capital clients had lost over $155 million.

    IRS-CI investigated the case.

    Bank Integrity Unit Deputy Chief Randall Warden and Trial Attorney Morgan Cohen of the Criminal Division’s Money Laundering and Asset Recovery Section and Assistant U.S. Attorneys Drew Rolle and Benjamin Weintraub for the Eastern District of New York are prosecuting the case. Trial Attorney Brandon Burkart of the Criminal Division’s Fraud Section assisted with the investigation.

    The Justice Department’s Office of International Affairs provided significant assistance in securing the arrest and extradition from Spain and obtaining evidence in this case. The Department of Justice also thanks the Governments of the Cayman Islands, Curaçao, Ecuador, Spain and Switzerland for their valuable support.

    MIL OSI USA News –

  • MIL-OSI Security: Founder and Former CEO of Biscayne Capital Sentenced to 10 Years in Prison for $130M Fraud Scheme

    Source: United States Attorneys General 1

    Roberto Gustavo Cortes Ripalda (Cortes), 58, the co-founder, co-owner, and CEO of international advisory firm Biscayne Capital, was sentenced earlier today in Brooklyn, New York to 10 years in prison for conspiracy to commit wire fraud. Cortes pleaded guilty to the charge in September 2023. Cortes was also ordered to pay $3.4 million in forfeiture and $103million in restitution to over 110 victims.

    “For more than five years, Roberto Cortes and his co-conspirators ran Biscayne Capital as a Ponzi scheme, lying to investors — including the defendant’s own friends and family members — and ultimately causing more than $155 million in investor losses,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “The sentence will hold Cortes accountable for his years of lies and deception. Thank you to our partners for their hard work and collaboration to achieve this result.”   

    “Today’s sentence reflects the seriousness of Roberto Cortes’s criminal conduct in orchestrating a years-long scheme with his co-conspirators to prop up a failing business while defrauding Biscayne Capital investors and clients around the globe,” said U.S. Attorney John J. Durham for the Eastern District of New York. “Using illegal Ponzi payments to their victims, Cortes and his co-conspirators were able to disguise and perpetuate this scheme for years until Biscayne Capital finally collapsed under the defendants’ lies. Today’s sentence demonstrates our Office’s commitment to holding accountable investment professionals who abuse the trust of their clients for personal profit.”

    “Regardless of the complexity of the investigation, IRS Criminal Investigation Special Agents and our law enforcement partners will utilize their skills and unique authorities to hold bad actors like the defendant accountable,” stated IRS-CI Executive Special Agent in Charge Kareem A. Carter.  “This was a brazen scheme of staggering proportions. Mr. Cortes and his co-conspirators prioritized their own greed, stealing $155 million from investors. Today’s sentencing sends a clear message that we remain vigilant and will vigorously pursue those who attempt to enrich themselves through fraudulent means.”

    According to court filings, Cortes and his co-defendant Ernesto Heraclito Weisson Pazmino (Weisson) founded Biscayne Capital in 2005 to support the financing of South Bay, their real estate development business focused on acquiring and demolishing properties to build luxury homes. After South Bay began experiencing financial trouble in 2007, Cortes and Weisson recruited investors to inject funds into South Bay’s operations. Rather than using those investor funds to fund South Bay’s real estate development projects, Cortes, Weisson, and their co-conspirators used the bulk of the funds to pay outstanding interest and principal debt obligations to other investors.

    Cortes and his co-conspirators took numerous steps to perpetuate and conceal the scheme, including distributing investment documents with false and misleading information, deceiving investors about the purpose, risk, return, and security of their investments, and creating and sending fake account statements to unsuspecting clients to conceal the scheme.  By the time the Biscayne Capital/South Bay Ponzi scheme collapsed and Biscayne Capital went into liquidation, Biscayne Capital clients had lost over $155 million.

    IRS-CI investigated the case.

    Bank Integrity Unit Deputy Chief Randall Warden and Trial Attorney Morgan Cohen of the Criminal Division’s Money Laundering and Asset Recovery Section and Assistant U.S. Attorneys Drew Rolle and Benjamin Weintraub for the Eastern District of New York are prosecuting the case. Trial Attorney Brandon Burkart of the Criminal Division’s Fraud Section assisted with the investigation.

    The Justice Department’s Office of International Affairs provided significant assistance in securing the arrest and extradition from Spain and obtaining evidence in this case. The Department of Justice also thanks the Governments of the Cayman Islands, Curaçao, Ecuador, Spain and Switzerland for their valuable support.

    MIL Security OSI –

  • MIL-OSI Economics: GlobalData highlights implications of US tariffs on IVD market

    Source: GlobalData

    GlobalData highlights implications of US tariffs on IVD market

    Posted in Medical Devices

    On April 2, the Trump administration announced tariffs on most US trading partners, including 125% on China, 31% on Switzerland, and 20% on the EU. Days later, Trump announced a 90-day pause on some tariffs, but a 10% baseline tariff remains. These tariffs are expected to impact all 510(k)-approved medical devices manufactured outside of the US (OUS). Thus, companies with OUS manufacturing will be affected by tariffs, while companies that exclusively manufacture in the US will not be impacted.  Therefore, to remain competitive in the US market, IVD manufacturers may need to absorb increased costs from tariffs or move manufacturing to the US, says GlobalData, a leading data and analytics company.

    Selena Yu, Senior Medical Analyst at GlobalData, comments: “Many IVD test kits have different components like primers, DNA probes, quality control reagents, tubes, and cartridges, that may be manufactured in other facilities in the US or OUS. Therefore, to remain competitive in the US market, IVD companies need to offset increased costs from tariffs. IVD companies that manufacture most of their tests in the US have an opportunity to increase their market share, as their products will remain unaffected by the tariffs.

    “Importantly, the goal is to improve patient care and patient outcomes. It’s unclear whether tariffs will affect product quality. This is because moving facilities, cutting potential costs added on by tariffs, etc., can lead to a decrease in product quality.”

    For example, according to GlobalData’s Sexual Health Tests SKU Tracker, the top-performing chlamydia and gonorrhea (CT/NG) dual tests in the US, based on sales volume, are Roche’s Cobas CT/NG test (44.3%) and Hologic’s Aptima Combo 2 assay (42.4%). Based on GlobalData’s MedSource Database, a database on the medical device supply chain, the Aptima test is exclusively manufactured in the US, whereas the Cobas test is partially manufactured OUS. Thus, the Hologic test is more “tariff-proof”.

    Yu continues: “There are numerous approaches for hospitals and manufacturers to take when looking at the impact of tariffs on the IVD market. There may be a shift towards the US-manufactured tests due to public sentiments about using more “American-grown” products. Alternatively, hospitals may continue to use the same products despite increased test costs due to tariffs.

    “The average selling price (ASP) of the Roche Cobas test is $3.41, while the Hologic Aptima assay is $9.32. This still allows for the Roche Cobas test to be at a competitive price in the market despite predicted price hikes due to tariffs. Another competitor, Cepheid XPERT CT/NG, has an ASP of $16.25 and is partially manufactured OUS; thus, the test is more at risk of losing market share due to tariffs.”

    The goal of high-quality, accessible testing for patients is a side thought in the tariffs in healthcare conversation. Currently, it is unclear whether tariffs will affect care quality. Various factors, including moving facilities and cutting potential costs added on by tariffs, can lead to a decrease in product quality. Additionally, this may create a barrier to entry for innovative OUS-manufactured IVD tests to enter the US market.

    Yu concludes: “The desire and necessity for a healthy population is a universal priority shared across the globe. Tariffs on diagnostic, screening, and monitoring tests can lead to patients not accessing care quickly enough if existing tests become scarce, unavailable, or too expensive in the US.”

    MIL OSI Economics –

  • MIL-OSI: Firefish Goes Global, Tapping Into Stablecoins to Offer Instant Non-Custodial Loans

    Source: GlobeNewswire (MIL-OSI)

    With over 10,000 users and 1,000 BTC collateralized, the company is empowering Bitcoin holders to unlock liquidity without having to sell their stack

    PRAGUE, April 24, 2025 (GLOBE NEWSWIRE) — Firefish, the leading open marketplace for Bitcoin-collateralized loans, now offers instant USDC loans to users in the U.S. and worldwide, delivering funds in as little as 15 minutes.

    After facilitating over $100M in value, Firefish now also supports USDC instant loans in over 50 countries, providing borrowers with liquidity in less than one hour. Loans in Euros and Swiss Francs are now also available for interested users in Europe and Switzerland.

    “This isn’t just a way for us to expand beyond Europe—it’s how we bypass the limitations of the fiat system,” said Martin Matejka, Firefish CEO and Co-Founder. “Stablecoins let our users receive instant payments regardless of location. With Firefish, you no longer have to wait days for a wire transfer to arrive.”

    The company recently crossed the 10,000-user mark and successfully collateralized over 1,000 BTC, recording triple-digit month-over-month growth in March 2025. Bitcoiners looking for loans and yield-seeking lenders are attracted to Firefish’s market-driven rates, compelling risk-reward profile, and a borrower-led model that lets lenders pick the best deal.

    Unlike centralized crypto lenders, Firefish does not hold user assets and never rehypothecates them. Bitcoin collateral is locked in on-chain escrow using multi-signature contracts, and fiat loans are settled directly between borrowers and lenders via standard bank transfers or stablecoins. Firefish’s advanced recovery feature allows for the Bitcoin collateral to still be recoverable in case of disastrous scenarios by using a pre-signed recovery transaction.

    With Firefish, institutional investors and high-net-worth individuals can deploy capital in bulk using fiat or stablecoins and be matched with qualified borrowers. These investments will soon be able to take place through traditional fund structures, which could enable even broader participation.

    “Lending is the natural next phase for Bitcoin adoption,” said Igor Neumann, Co-Founder and COO at Firefish. “Stablecoins enable millions of holders worldwide to use Bitcoin as a superior collateral asset and leverage its high liquidity, transparency, and borderless nature.”

    Firefish recently closed its seed round, with backing by prominent players such as Braiins and Miton C. Firefish’s roots are in the Czech Republic, a country with a great Bitcoin tradition that recently implemented favorable policies, including capital gains exemptions and discussions about adding Bitcoin to the central bank’s reserves. Companies such as SatoshiLabs, Braiins, General Bytes, Confirmo and Coinmate all trace back their origins to the Czech capital.

    About Firefish

    Firefish is the open marketplace for bitcoin-collateralized loans. Drawing on decades of experience in banking and capital markets, Martin Matejka and Igor Neumann founded Firefish to offer Bitcoin holders a simple and secure way to borrow cash against their Bitcoin without relying on a custodian. Using on-chain escrow and peer-to-peer matching, Firefish allows users to use their Bitcoin without having to sell and trigger capital gains taxes. Learn more at firefish.io

    Media Contact:
    Jesse Firefish
    press@firefish.io

    Disclaimer: This is a paid post and is provided by Firefish. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.
    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/961e11cc-e1af-4ada-9a62-cad36c509d83

    The MIL Network –

  • MIL-OSI: MYT Netherlands Parent B.V. (“Mytheresa”) and Richemont announce the successful completion of Mytheresa’s acquisition of YOOX NET-A-PORTER (“YNAP”)

    Source: GlobeNewswire (MIL-OSI)

    MYT Netherlands Parent B.V. (“Mytheresa”) and Richemont announce the successful completion of Mytheresa’s acquisition of YOOX NET-A-PORTER (“YNAP”)

    24 April 2025 – Mytheresa (NYSE:MYTE) successfully closed its acquisition of YNAP from Richemont (SWX:CFR), through its subsidiary Richemont Italia Holding S.P.A., following the fulfillment of all conditions including receipt of all unconditional approvals from the relevant regulatory authorities.

    Mytheresa is now YNAP’s sole shareholder which it will fully consolidate under the MYT Netherlands Parent B.V. umbrella. The company will be renamed “LuxExperience B.V.” and will continue to be listed on the New York Stock Exchange (NYSE) with the trade name “LuxExperience” and a new ticker symbol of “LUXE”, effective 1 May 2025.

    In exchange for all shares of YNAP and a net cash position of €555m and no financial debt, Richemont has received 49,741,342 shares in Mytheresa, representing 33% of Mytheresa’s fully diluted share capital post issuance of the consideration shares.

    Nora Aufreiter, Chair of the Supervisory Board of MYT Netherlands Parent B.V., said: “The successful acquisition marks a milestone in the great success story of Mytheresa. Our company will become a group that includes some of the best retail banners in digital luxury. We will use our proven strength to execute on our strategic plans and create even more value for our shareholders, brand partners, customers and employees. We are confident that in the course of the integration and restructuring we will become one of the strongest and most resilient global players in the digital luxury sector.”

    The store brands Mytheresa, NET-A-PORTER, MR PORTER, YOOX and THE OUTNET will be strengthened in their differentiated and complementary profiles. Significant synergies will be achieved primarily through a shared infrastructure and technology platform as well as operational efficiency improvements. The off-price division – consisting of YOOX and THE OUTNET – will be separated from the luxury division to enable a much simpler and more efficient operating model under the new roof. YNAP’s white label service business will be discontinued as soon as the Richemont Maisons’ online stores powered by YNAP have been migrated to their own chosen platforms.

    Forward-looking statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact or relating to present facts or current conditions included in this press release are forward- looking statements. Forward-looking statements give Mytheresa’s current expectations and projections relating to the completed transaction and the operation of the combined companies; its financial condition, results of operations, plans, objectives, future performance and business, including statements relating to financing activities, future sales, expenses, and profitability; future development and expected growth of our business and industry; our ability to execute our business model and our business strategy; having available sufficient cash and borrowing capacity to meet working capital, debt service and capital expenditure requirements for the next twelve months; and projected capital spending. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements contained in this press release are based on assumptions that Mytheresa has made in light of its industry experience and perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. As you read and consider this press release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (many of which are beyond Mytheresa’s control) and assumptions. Although Mytheresa believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect its actual operating and financial performance and cause its performance to differ materially from the performance anticipated in the forward-looking statements. Mytheresa believes these factors include, but are not limited to: the risk that the completed transaction and its announcement could have an adverse effect on the ability of YNAP to retain customers and retain and hire key personnel and maintain relationships with their brand partners and customers and on their operating results and businesses generally; the risk that problems may arise in successfully integrating the businesses of YNAP and Mytheresa, which may result in the combined company not operating as effectively and efficiently as expected; the risk that the combined company may be unable to achieve cost-cutting synergies or that it may take longer than expected to achieve those synergies; Mytheresa’s ability to effectively compete in a highly competitive industry; Mytheresa’s ability to respond to consumer demands, spending and tastes; general economic conditions, including economic conditions resulting from deteriorating geopolitical and macroeconomic conditions, such as the recent global trade war that escalated after the U.S. imposed tariffs on countries across the globe, and the adoption of retaliatory tariffs by those countries, that may adversely impact consumer demand; Mytheresa’s ability to acquire new customers and retain existing customers; consumers of luxury products may not choose to shop online in sufficient numbers; the volatility and difficulty in predicting the luxury fashion industry; Mytheresa’s reliance on consumer discretionary spending; and Mytheresa’s ability to maintain average order levels and other factors. Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove incorrect, Mytheresa’s actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements.

    Mytheresa undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

    The achievement or success of the matters covered by such forward-looking statements involves known and unknown risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, Mytheresa’s results could differ materially from the results expressed or implied by the forward-looking statements it makes.

    You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent Mytheresa’s management’s beliefs and assumptions only as of the date such statements are made.

    Further information on these and other factors that could affect Mytheresa’s financial results is included in filings it makes with the U.S. Securities and Exchange Commission (“SEC”) from time to time, including the section titled “Risk Factors” in its annual report on Form 20-F and on Form 6-K (reporting its quarterly results). These documents are available on the SEC’s website at www.sec.gov and on the SEC Filings section of the Investor Relations section of our website at: https://investors.mytheresa.com.

    About Mytheresa

    Mytheresa is one of the leading luxury multi-brand digital platforms shipping to over 130 countries. Founded as a boutique in 1987, Mytheresa launched online in 2006 and offers ready-to-wear, shoes, bags and accessories for womenswear, menswear, kidswear as well as lifestyle products and fine jewelry. The highly curated edit of up to 250 brands focuses on true luxury brands such as Bottega Veneta, Brunello Cucinelli, Dolce&Gabbana, Gucci, Loewe, Loro Piana, Moncler, Prada, Saint Laurent, The Row, Valentino, and many more. Mytheresa’s unique digital experience is based on a sharp focus on high-end luxury shoppers, exclusive product and content offerings, leading technology and analytical platforms as well as high quality service operations. The NYSE listed company reported € 913.6 million GMV in fiscal year 2024 (+7% vs. FY23).
    For more information, please visit https://investors.mytheresa.com/.

    “LuxExperience” will be the trade name for LuxExperience B.V., a Dutch company with limited liability, upon completion of the renaming of MYT Netherlands Parent B.V.

    About Richemont

    At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

    Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier, Van Cleef & Arpels and Vhernier; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian as well as Watchfinder & Co. Find out more at https://www.richemont.com/.

    Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. The ‘A’ shares are also traded on the Johannesburg Stock Exchange (JSE), Richemont’s secondary listing.

    Investor Relations Contacts
    Mytheresa.com GmbH
    Stefanie Muenz
    phone: +49 89 127695-1919
    email: investors@mytheresa.com

    Media Contacts for public relations
    Mytheresa.com GmbH
    Sandra Romano
    mobile: +49 152 54725178
    email: sandra.romano@mytheresa.com

    Media Contacts for business press
    Mytheresa.com GmbH
    Lisa Schulz
    mobile: +49 151 11216490
    email: lisa.schulz@mytheresa.com

    Media Contacts for business press
    BOC Consult GmbH
    Ruediger Assion
    mobile: +49 176 2424 7691
    email: ruediger.assion@boc-consult.com

    Richemont Contacts
    Investor / analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
    Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com

    Source: MYT Netherlands Parent B.V.

    Click here for a printer-friendly version in English (PDF)

    The MIL Network –

  • MIL-Evening Report: 5 ways to tackle Australia’s backlog of asylum cases

    Source: The Conversation (Au and NZ) – By Daniel Ghezelbash, Professor and Director, Kaldor Centre for International Refugee Law, UNSW Law & Justice, UNSW Sydney

    People who apply for asylum in Australia face significant delays in having their claims processed. These delays undermine the integrity of the asylum system, erode public confidence and cause significant distress to people seeking asylum.

    There are, at the time of writing, 28,691 applications for a protection visa awaiting a decision at the Department of Home Affairs. At least 43,308 applications await review at the Administrative Review Tribunal.

    For people seeking asylum who have their initial applications refused and seek review in the Administrative Review Tribunal and in the Federal Circuit and Family Court, the process can often take more than ten years.

    Whoever wins the upcoming election inherits the daunting task of addressing this issue.

    Our research evaluated data on Australia’s previous attempts to increase efficiency of asylum processing. We also examined international best practice for designing fair and fast procedures, including lessons from recent successful asylum reforms in Switzerland.

    Here are five ways to make Australia’s asylum process more efficient.

    1. Recognise fairness enhances efficiency

    In most countries with asylum systems, processing is neither fair nor fast.

    When trying to increase efficiency, many governments have limited the ability of a person seeking asylum to fairly put forward their case.

    Australia, the United States, and many countries across Europe have introduced accelerated or fast-track procedures that drop essential safeguards including:

    • the right to an interview
    • access to legal assistance, and
    • the opportunity to respond to information that undermines their claim for asylum.

    But these efforts don’t just undermine fairness. They also contribute to slower processing.

    Such measures tend to lead to more appeals, and more cases being overturned by courts and tribunals. This contributes to longer delays.

    Our research into Australia’s now-abolished fast-track procedures demonstrates this. This policy was introduced by the Coalition government in 2014, with the aim of speeding up processing and reducing the backlog of asylum applications.

    It included the creation of a new streamlined review process before the Immigration Assessment Authority. Applicants were generally not interviewed or allowed to put forward new information.

    The resulting system was not only unfair; it was also excruciatingly slow.

    Four in five cases were appealed to the court. About 37% of these were overturned. The delays created by increased litigation clearly counteracted any time saved.

    One of the best ways to improve the efficiency of asylum processing is to ensure applicants can present their cases effectively from the outset.

    2. Fund legal representation for those who can’t afford a lawyer

    Research shows legal assistance increases efficiency.

    Lawyers can help assist people to prepare and present their case properly, and ensure that they get a fair hearing (reducing the chance of a lengthy appeal).

    Promisingly, in 2023 the federal government announced A$48 million in funding for legal services for people seeking asylum.

    It’s crucial this funding is maintained, and is sufficient to meet demand.

    3. Invest in decision-makers

    Once a person lodges their claim for asylum, it’s first assessed by the Department of Home Affairs. If the application is denied, the applicant can seek review at the Administrative Review Tribunal, which reassesses the merits of the application.

    If the tribunal rejects the claim, the court can conduct a limited review focusing only on whether the decision was lawfully made.

    A fast process is only possible if we have enough of all these decision-makers across the system.

    This requires investment in training and hiring suitably qualified decision-makers who are equipped to handle the volume and complexity of asylum claims.

    This is underway. The federal government has invested $58 million in October 2023 towards hiring additional Administrative Review Tribunal members and Federal Circuit and Family Court judges for asylum cases. It’s also hiring more staff at the Department of Home Affairs.

    Australia’s next government should consider taking a data-driven approach to calculate the decision-making capacity required for existing and future caseload.

    4. Prioritise simple cases for faster processing

    Not all asylum cases are equally complex; some can be resolved relatively quickly.

    Australia needs a robust and transparent triaging system to identify and prioritise simpler cases for faster processing.

    This would significantly improve overall efficiency and allow decision-makers to focus on more complex cases.

    The Department of Home Affairs’ current approach to triaging is a “last in, first out” system that prioritises new asylum applications for rapid processing.

    However, this leads to substantial unfairness for applicants who lodged their claims earlier, who may face long processing delays.

    The department needs an approach to streaming based on case complexity, to ensure all cases are finalised as quickly as possible.

    5. Better coordination across decision-making bodies

    The various bodies involved in asylum processing – including the Administrative Review Tribunal, the Federal Circuit and Family Court and the Department of Home Affairs – need to coordinate to improve efficiency and cut delays.

    Any government reforms aimed at increasing the efficiency of asylum procedures must be system-wide.

    By taking a holistic view, we can ensure that increased efficiency at one stage does not inadvertently create bottlenecks or inefficiencies in another.

    A fundamental shift

    Overall, Australia needs a fundamental shift that recognises fairness contributes to, rather than detracts from efficiency.

    That shift is essential for developing a fair and fast asylum process that will serve the best interests of applicants, the government and the Australian public.

    Daniel Ghezelbash receives funding from the Australian Research Council and the Robert Bosch Foundation. He is a board member of Refugee Advice and Casework Services, Wallumatta Legal, and the Access to Justice and Technology Network. He is also a Special Counsel at the National Justice Project.

    Keyvan Dorostkar receives an Australian government Research Training Program (RTP) Scholarship.

    Mia Bridle receives an Australian government Research Training Program (RTP) Scholarship.

    – ref. 5 ways to tackle Australia’s backlog of asylum cases – https://theconversation.com/5-ways-to-tackle-australias-backlog-of-asylum-cases-254071

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Colorado Helps Lead Lawsuit to Stop Trump Administration’s Illegal Tariffs that Are Raising Prices, Causing Economic Uncertainty

    Source: US State of Colorado

    President Trump’s tariff tax disaster is creating uncertainty in the economy, and drying up investment by plunging markets into chaos

    COLORADO – Today, Governor Polis and Attorney General Phil Weiser announced that the state will take legal action against the Trump administration over its failed tariff taxes that are destroying our economy, increasing costs on Americans, plunging markets, and putting America on the track to a recession. Colorado joins Oregon, Arizona, Connecticut, Delaware, Illinois, Maine, Minnesota, Nevada, New Mexico, New York, and Vermont.

    “Tariffs are awful for Americans and our economy, and it’s important to use every legal tool possible to reduce trade barriers and increase prosperity. Today, Colorado is standing up against President Trump’s recessionary tariff tax increase, which has been disastrous and is jeopardizing both U.S. leadership and the world economy. Here in Colorado, tariffs are already hurting Colorado agriculture and small businesses. We will do everything we can legally to prevent tariffs that are bad for businesses and all Americans,” said Colorado Governor Jared Polis.

    Today, Governor Polis hosted Colorado-Mexico Friendship Day and has met with businesses across the state about the negative impacts of Trump’s tariffs on Colorado jobs and the economy.

    “Coloradans are already starting to feel the effects of the Trump tariffs, with rising prices to consumers and the State of Colorado resulting from them,” Weiser said. “Under the Constitution, only Congress has the power to tax and impose tariffs and there is no ‘emergency’ that justifies the Trump tariffs. We are challenging these tariffs in court because they are illegal and, as one study concluded, they will ‘increase inflation, result in nearly 800,000 lost jobs, and shrink the American economy by $180 billion a year’.”

    The lawsuit challenges President Trump’s executive orders calling for higher tariffs on most products worldwide. These tariffs impose a 25 percent tariff on most products from Canada and Mexico, and a 10 percent tariff on most products from the rest of the world. It also challenges President Trump’s plan to raise tariffs on imports from 46 other trading partners on July 9.

    Studies of the tariffs President Trump issued in his first term show that 95 percent of the cost of tariffs are paid by Americans. The Federal Reserve and the International Monetary Fund project that this round of tariffs will cause inflation.

    The lawsuit explains that under Article I of the Constitution, only Congress has the “Power To lay and collect Taxes, Duties, Imposts and Excises.” The executive orders cite the powers granted by the International Emergency Economic Powers Act (IEEPA), but that law applies only when an emergency presents “unusual and extraordinary threat” from abroad and does not give the President the power to impose tariffs. Congress enacted IEEPA in 1977. No President had imposed tariffs based on IEEPA until President Trump did so this year.

    The case is State of Oregon, et al., v. Trump, et al. and was filed in the U.S. Court of International Trade.

    The case is led by Oregon Attorney General Dan Rayfield and Arizona Attorney General Kris Mayes. Also joining the lawsuit are the attorneys general of Colorado, Connecticut, Delaware, Illinois, Maine, Minnesota, Nevada, New Mexico, New York, and Vermont.

    In 2024, Colorado exported a record $10.5 billion of goods to the world and imported $16.8 B in goods. Colorado’s top export partners are Mexico ($1.7B), Canada ($1.6B), China ($0.8B)  South Korea ($0.6B), and Malaysia ($0.6 B), accounting for half of all Colorado exports in 2024. Top export commodities include meat (17%); nuclear reactors, boilers, machinery (15%); electric machinery (13%); optic, photo, medical or surgical instruments (11%); and aircraft, spacecraft, and related parts (5%). In 2022, exports from Colorado supported an estimated 40 thousand jobs.

    Colorado in 2024 exported $500 million in aerospace, spacecraft, and related parts, accounting for roughly 4.8% of all Colorado exports. The European Union, Brazil, France, Canada and Mexico were the top five export destinations, accounting for 63% of Colorado’s aerospace exports. In 2024, Colorado imported $1 billion of aerospace, spacecraft and related parts, accounting for roughly 6.2% of all Colorado imports. Switzerland, the EU, Germany, Canada, and France were the top five import sources, accounting for over 90% of Colorado’s aerospace imports.

    An estimated 820,200 jobs in Colorado are supported by international trade, representing 20.8% of all jobs in the state. Colorado’s top import partners are Canada ($5.4 B), China ($1.8 B), Mexico ($1.1 B), Switzerland ($0.9 B) and Germany ($0.9 B), accounting for 60% of imports in 2024. Top import commodities include oil, mineral fuel (20%); electric machinery (14%); nuclear reactors, boilers, machinery (11%); optic, photo, medical or surgical instruments (8%); and aircraft, spacecraft and related parts (6%).

    In addition to the commodities traded, Colorado also trades services and runs a services trade surplus. In 2022, Colorado exported $16 B in services, supporting 97,260 jobs. Top services export markets were Canada ($1.3 B), the United Kingdom ($0.9 B), Mexico ($0.9 B), and China ($0.6 B). As a bloc, the EU was the top services export market with $3.8 B in services exports supporting over 18,900 jobs.

    ###
     

    MIL OSI USA News –

  • MIL-OSI USA: TRUMP EFFECT: A Running List of New U.S. Investment in President Trump’s Second Term

    US Senate News:

    Source: The White House
    Since President Donald J. Trump took office, his unwavering commitment to revitalizing American industry has spurred trillions of dollars of investments in U.S. manufacturing, production, and innovation — and the list only continues to grow.
    Here is a non-comprehensive running list of new U.S.-based investments in President Trump’s second term:
    Project Stargate, led by Japan-based Softbank and U.S.-based OpenAI and Oracle, announced a $500 billion private investment in U.S.-based artificial intelligence infrastructure.
    Apple announced a $500 billion investment in U.S. manufacturing and training.
    NVIDIA, a global chipmaking giant, announced it will invest $500 billion in U.S.-based AI infrastructure over the next four years amid its pledge to manufacture AI supercomputers entirely in the U.S. for the first time.
    Taiwan Semiconductor Manufacturing Company (TSMC) announced a $100 billion investment in U.S.-based chips manufacturing.
    Johnson & Johnson announced a $55 billion investment over the next four years in manufacturing, research and development, and technology.
    Roche, a Swiss drug and diagnostics company, announced a $50 billion investment in U.S.-based manufacturing and research and development, which is expected to create more than 1,000 full-time jobs and more than 12,000 jobs including construction.
    Eli Lilly and Company announced a $27 billion investment to more than double its domestic manufacturing capacity.
    United Arab Emirates-based ADQ and U.S.-based Energy Capital Partners announced a $25 billion investment in U.S. data centers and energy infrastructure.
    Novartis, a Swiss drugmaker, announced a $23 billion investment to build or expand ten manufacturing facilities across the U.S., which will create 4,000 new jobs.
    Hyundai announced a $21 billion U.S.-based investment — including $5.8 billion for a new steel plant in Louisiana, which will create nearly 1,500 jobs.
    Hyundai also secured an equity investment and agreement from Posco Holdings, South Korea’s top steel maker.

    United Arab Emirates-based DAMAC Properties announced a $20 billion investment in new U.S.-based data centers.
    France-based CMA CGM, a global shipping giant, announced a $20 billion investment in U.S. shipping and logistics, creating 10,000 new jobs.
    Merck announced it will invest $8 billion in the U.S. over the next several years after opening a new $1 billion North Carolina manufacturing facility.
    Clarios announced a $6 billion plan to expand its domestic manufacturing operations.
    Stellantis announced a $5 billion investment in its U.S. manufacturing network, including re-opening its Belvidere, Illinois, manufacturing plant.
    Regeneron Pharmaceuticals, Inc., a leader in biotechnology, announced a $3 billion agreement with Fujifilm Diosynth Biotechnologies to produce drugs at its North Carolina manufacturing facility.
    NorthMark Strategies, a multi-strategy investment firm, announced a $2.8 billion investment to build a supercomputing facility in South Carolina.
    ArcelorMittal, a steel manufacturer, announced a $1.2 billion investment to build an advanced manufacturing facility in Alabama.
    Chobani, a Greek yogurt giant, announced a $1.2 billion investment to build its third U.S. dairy processing plant in New York, which is expected to create more than 1,000 new full-time jobs.
    GE Aerospace announced a $1 billion investment in manufacturing across 16 states — creating 5,000 new jobs.
    Corning, Inc., a solar component producer, announced a $900 million investment to build a manufacturing plant in Michigan.
    Schneider Electric announced it will invest $700 million over the next four years in U.S. energy infrastructure.
    GE Vernova announced it will invest nearly $600 million in U.S. manufacturing over the next two years, which will create more than 1,500 new jobs.
    Abbott Laboratories announced a $500 million investment in its Illinois and Texas facilities.
    AIP Management, a European infrastructure investor, announced a $500 million investment to solar developer Silicon Ranch.
    London-based Diageo announced a $415 million investment in a new Alabama manufacturing facility.
    Dublin-based Eaton Corporation announced a $340 million investment in a new South Carolina-based manufacturing facility for its three-phase transformers.
    Germany-based Siemens announced a $285 million investment in U.S. manufacturing and AI data centers, which will create more than 900 new skilled manufacturing jobs.
    Clasen Quality Chocolate announced a $230 million investment to build a new production facility in Virginia, which will create 250 new jobs.
    Fiserv, Inc., a financial technology provider, announced a $175 million investment to open a new strategic fintech hub in Kansas, which is expected to create 2,000 new high-paying jobs.
    Paris Baguette announced a $160 million investment to construct a manufacturing plant in Texas.
    TS Conductor announced a $134 million investment to build an advanced conductor manufacturing facility in South Carolina, which will create nearly 500 new jobs.
    Switzerland-based ABB announced a $120 million investment to expand production of its low-voltage electrification products in Tennessee and Mississippi.
    Saica Group, a Spain-based corrugated packaging maker, announced plans to build a $110 million new manufacturing facility in Anderson, Indiana.
    Charms, LLC, a subsidiary of candymaker Tootsie Roll Industries, announced a $97.7 million investment to expand its production plant and distribution center in Tennessee.
    Toyota Motor Corporation announced an $88 million investment to boost hybrid vehicle production at its West Virginia factory, securing employment for the 2,000 workers at the factory.
    AeroVironment, a defense contractor, announced a $42.3 million investment to build a new manufacturing facility in Utah.
    Paris-based Saint-Gobain announced a new $40 million NorPro manufacturing facility in Wheatfield, New York.
    India-based Sygene International announced a $36.5 million acquisition of a Baltimore biologics manufacturing facility.
    Asahi Group Holdings, one of the largest Japanese beverage makers, announced a $35 million investment to boost production at its Wisconsin plant.
    Cyclic Materials, a Canadian advanced recycling company for rare earth elements, announced a $20 million investment in its first U.S.-based commercial facility, located in Mesa, Arizona.
    Guardian Bikes announced a $19 million investment to build the first U.S.-based large-scale bicycle frame manufacturing operation in Indiana.
    Amsterdam-based AMG Critical Minerals announced a $15 million investment to build a chrome manufacturing facility in Pennsylvania.
    NOVONIX Limited, an Australia-based battery technology company, announced a $4.6 million investment to build a synthetic graphite manufacturing facility in Tennessee.
    LGM Pharma announced a $6 million investment to expand its manufacturing facility in Rosenberg, Texas.
    ViDARR Inc., a defense optical equipment manufacturer, announced a $2.69 million investment to open a new facility in Virginia.
    That doesn’t even include the U.S. investments pledged by foreign countries:
    United Arab Emirates announced a $1.4 trillion investment in the U.S. over the next decade.
    Saudi Arabia announced it intends to invest $600 billion in the U.S. over the next four years.
    Japan announced a $1 trillion investment in the U.S.
    Taiwan announced a pledge to boost its U.S.-based investment.
    Last updated on April 23, 2025

    MIL OSI USA News –

  • MIL-OSI USA: President Trump’s Vision Fuels Major U.S. Production Boom

    US Senate News:

    Source: The White House
    President Donald J. Trump’s unrelenting commitment to revitalizing American manufacturing is continuing to deliver results, with another wave of companies announcing transformative investments in their U.S.-based operations — driving job creation and economic growth nationwide.
    In just the past few days:
    Roche, a Swiss drug and diagnostics company, announced a $50 billion investment in its U.S.-based manufacturing and R&D, which is expected to create more than 1,000 new full-time jobs and more than 12,000 jobs including construction.
    Regeneron Pharmaceuticals, Inc., a leader in biotechnology, announced a $3 billion agreement with Fujifilm Diosynth Biotechnologies to produce drugs at its North Carolina manufacturing facility.
    NorthMark Strategies, a multi-strategy investment firm, announced a $2.8 billion investment to build a supercomputing facility in South Carolina.
    Chobani, a Greek yogurt giant, announced a $1.2 billion investment to build its third U.S. dairy processing plant in New York, which is expected to create more than 1,000 new full-time jobs.
    Fiserv, Inc., a financial technology provider, announced a $175 million investment to open a new strategic fintech hub in Kansas, which is expected to create 2,000 new high-paying jobs.
    Toyota Motor Corporation, a Japanese automaker, announced an $88 million investment to boost hybrid vehicle production at its West Virginia factory, securing employment for the factory’s 2,000 workers.
    Hyundai Motor Group, a South Korean automaker, secured an equity investment and agreement from Posco Holdings, South Korea’s top steel maker, for the automaker’s planned steel plant in Louisiana.
    Cyclic Materials, a Canadian advanced recycling company for rare earth elements, announced a $20 million investment in its first U.S.-based commercial facility, located in Mesa, Arizona.
    Click here for more new investments secured in President Trump’s second term.

    MIL OSI USA News –

  • MIL-OSI: XRP News: XploraDEX Token Distribution Is Now Live—Only 6 Days Window Period Left to Join $XPL Presale

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, Switzerland, April 23, 2025 (GLOBE NEWSWIRE) — The race is on as the XploraDEX $XPL token distribution goes live, marking a major milestone in what is shaping up to be XRPL’s most innovative DeFi launch. With just 6 days remaining in the presale, early adopters are moving fast to secure their tokens before the window closes for good.

    Buy $XPL Token

    XploraDEX has gained massive traction for being the first AI-powered decentralized exchange built natively on the XRP Ledger. Designed to deliver intelligent trade execution, predictive analytics, and real-time automation, XploraDEX is reshaping what on-chain trading can look like for everyday users and advanced traders alike.

    Join $XPL Presale

    Token distribution began earlier this week and is now in full swing. Thousands of wallets are being funded with $XPL as part of the 7-day rollout plan. The response? Electric. From DeFi veterans to XRPL newcomers, the demand has reached new highs, and on-chain activity is surging.

    What’s Happening Now:

    • $XPL tokens are actively being distributed to early supporters
    • 98% of the token allocation has already been claimed
    • Final 6 days of the presale are live
    • Staking pools and governance modules launch post-distribution

    Participate in $XPL Presale

    The timing couldn’t be more perfect. As distribution rolls out and the platform prepares for public activation, the final window for presale access is rapidly closing. The next time $XPL hits the spotlight, it will be on live markets—and at a premium.

    If you’ve been watching from the sidelines, this is your moment. Token distribution is happening in real time. The presale ends in 6 days. And after that, the early entry advantage disappears forever.

    Join the $XPL Presale While It’s Still Open: https://sale.xploradex.io

    Live Updates on$XPL Token Launch: Website | $XPL Token Presale | X | Telegram

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

    Disclaimer: This press release is provided by the XploraDEX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.

    Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.

    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/53595e07-27e3-4413-8f20-c10b962ed929

    The MIL Network –

  • MIL-OSI: United Nations Alliance of Civilizations Meeting in Geneva Concludes with Key Recommendations on AI Governance and Launches HUMAN-AI-T: A Global Initiative to Integrate Humanity into Artificial Intelligence

    Source: GlobeNewswire (MIL-OSI)

    United Nations Alliance of Civilizations Meeting in Geneva Concludes with Key Recommendations on AI Governance and Launches HUMAN-AI-T: A Global Initiative to Integrate Humanity into Artificial Intelligence
    UNAOC AI for #OneHumanity: Human-Centered Artificial Intelligence

    Geneva, Switzerland – April 23, 2025 –WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, today announces that United Nations Alliance of Civilizations meeting in Geneva concludes with key recommendations on AI Governance and launches HUMAN-AI-T.

    Staying true to its founding motto “Many cultures, one humanity,” the United Nations Alliance of Civilizations (UNAOC), established in 2005 by then UN Secretary-General Kofi Annan, continues to promote cultural diversity, interfaith dialogue, and mutual respect. Today, these foundational principles are essential to shaping the future of artificial intelligence.

    At a high-level meeting held at the United Nations Office in Geneva, UNAOC and its public and private sector partners launched HUMAN-AI-T, a transformative global initiative designed to align the evolution of artificial intelligence with universal ethical values, cultural heritage, and human dignity.

    Building on the momentum of its two previous editions, the third “AI for #OneHumanity” summit gathered a diverse group of global actors—governments, international organizations, business leaders, innovators, academics, media, and civil society—to explore pathways toward inclusive and responsible AI development in the service of the common good.

    Organized by UNAOC in collaboration with the Onuart Foundation, the two-day forum featured thematic sessions on the role of AI in intercultural dialogue, sustainable development, and collective human progress, while addressing critical issues such as cultural bias, AI governance, and equitable access.

    Notable participants from Spain included:

    • José Manuel Albares, Minister of Foreign Affairs, European Union and Cooperation of Spain;
    • Miguel Ángel Moratinos, former Foreign Minister and current High Representative of UNAOC;
    • José Luis Rodríguez Zapatero, former Prime Minister of Spain and President of the Advisory Board of the Onuart Foundation.

    Key Points:

    1. Ethical AI Governance:
      Minister Albares emphasized the urgent need for ethical AI development rooted in human rights. He announced Spain’s intention to propose a national Artificial Intelligence Governance Law, aimed at ensuring AI applications respect fundamental rights and prioritize dignity, inclusion, and human-centered innovation through multilateral frameworks.
    2. Global Cooperation and Risks:
      Albares warned of the growing dangers of misinformation and the irresponsible use of autonomous military technologies. He called for greater UN involvement to ensure no one is left behind and to maintain a fair and balanced multilateral system in AI development and regulation.
    3. Moratinos’ Concerns:
      Miguel Ángel Moratinos highlighted the risk of AI deepening global inequality or undermining shared values. He stressed that AI is no longer a future issue—it is already at the heart of our communications, economies, and daily lives, and urgently requires global oversight guided by human dignity.
    4. Zapatero’s Message:
      In a video message, José Luis Rodríguez Zapatero expressed optimism about AI’s potential to address humanity’s most urgent needs: peace, democracy, and the eradication of poverty. “We are at a turning point,” he said. “Artificial intelligence must be a tool for peace and social justice. It must help us end hunger, combat inequality, and strengthen democratic values. Let’s ensure that AI, like every great human creation, serves to elevate the human spirit.”

    The opening session, titled “Towards One Humanity: Human-Centered Development Supported by AI,” featured remarks by Moratinos, Dr. José Luis Bonet Ferrer (President of the Onuart Foundation), and Rima Al-Chikh (UNOG), followed by opening addresses from Minister Albares, H.E. Burak Akçapar, Permanent Representative of Türkiye, and former President Zapatero.

    A main session on ethical and equitable AI included insights from David Carmona (VP & CTO of Microsoft), Carlos Moreira (CEO of WISeKey), Francisco Hortigüela (President of Ametic), Moulaye Bouamatou (President of Banque de Mauritanie), and Julian Isla (President of Fundación29), moderated by Fernando Zallo from the Onuart Foundation.

    Other panels focused on the inclusive future of AI, with contributions from Bilel Jamoussi (ITU), Jon Hernández, Enrique Arribas, Alberto Díez, Loida Peral, Matthew Griffin, Danilo McGarry, and Yujun Pian, moderated by Julie Ladanan of UNAOC.

    The session “Artificial Intelligence: Transforming Human Identity and Behavior in the Digital Age” featured video contributions from Dr. Rafael Yuste, Director of Columbia University’s NeuroTechnology Center and President of the NeuroRights Foundation, and Jared Genser, General Counsel of the same foundation. The session was moderated by Juan Carlos Gutiérrez of the Onuart Foundation.

    A complementary session on “AI and Media in the Information Age” addressed challenges such as disinformation and hate speech, with contributions from Catherine Bokonga-Fiankan (President of the Association of UN Correspondents in Geneva), Yfat Barak-Cheney (World Jewish Congress), Eduardo Solana (University of Geneva), Axel Hörger (former CEO of UBS Germany), Lluis Vilella (CEO of K-BOX), Sixtine Crutchfield (Art Director at WiseArt), filmmaker Devy Man, and music writer Soren Sorensen (aka Dorian Gray), moderated by Nihal Saad, Director of UNAOC.

    The HUMAN-AI-T initiative was presented as a secure and globally accessible digital platform to preserve humanity’s ethical, philosophical, and cultural legacy. Inspired by the Svalbard Global Seed Vault, it will function as an ethical digital vault, housing verified content—from religious texts and philosophical works to legal codes, international treaties, and indigenous knowledge—digitally signed and protected by post-quantum cryptographic technologies to ensure long-term trust, traceability, and integrity.

    As general artificial intelligence (AGI) and quantum computing advance, HUMAN-AI-T responds to the increasing ethical risks posed by superintelligent systems by anchoring AI development in shared human values and global moral frameworks. The initiative aligns with the UN General Assembly resolution on safe and trustworthy AI, aiming to make AI a platform for inclusion, cooperation, and ethical progress.

    “At the heart of AI must be the heart of humanity,” emphasized Miguel Ángel Moratinos. “This is not just a technological issue—it is a civilizational imperative. We must develop AI to serve people, not the other way around. That requires an inclusive model centered on dignity.”

    Dr. Bonet Ferrer added: “For AI to truly contribute to human progress, we must incorporate the spirit of One Humanity into its design and governance. Technology must unite us, honor our diversity, and strengthen our shared destiny.”

    Jared Genser also highlighted: “As neurotechnologies and AI converge, we must update human rights frameworks to protect mental sovereignty. HUMAN-AI-T is an urgent ethical safeguard anchoring these tools in principles from the outset.”

    Carlos Moreira, founder and CEO of WISeKey, concluded: “We are approaching a threshold where machines may surpass human intelligence. If we do not act now, we risk losing control over the values embedded in these systems. HUMAN-AI-T is our response: to ensure that the intelligence we build remains deeply human—now and for future generations.”

    Finally, Che Fu, founder and president of the World Public Economic Organization (WPEO) and president of the East-West Cultural Exchange Promotion Agency of Sichuan, remarked: “Artificial intelligence has a unique power to build bridges between civilizations. It is a new language of humanity—one that must be shaped with ethics and cultural understanding. We must come together, East and West, to ensure this technology connects us. I warmly invite the UN Alliance of Civilizations to hold the 4th AI for #OneHumanity Conference in China on January 20, 2026, where we can continue this global dialogue and strengthen our shared commitment to a human-centered digital future.”

    The event concluded with closing reflections from H.E. Mr. Moratinos and Dr. Bonet Ferrer, marking the beginning of a new chapter in the evolution of AI—one guided not only by algorithms and code, but by consciousness, cooperation, and compassion.

    #HUMANAIT #QuantumRisks #AGI #AIForGood #OneHumanity #TrustworthyAI #EthicalAI #China2026

    About WISeKey

    WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

    Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.

    Disclaimer
    This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

    This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

    Press and Investor Contacts

    WISeKey International Holding Ltd
    Company Contact: Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com     		 WISeKey Investor Relations (US) 
    The Equity Group Inc.
    Lena Cati
    Tel: +1 212 836-9611
    lcati@equityny.com

    The MIL Network –

  • MIL-OSI United Nations: Programme Management Officer (Deputy Chief of Regional Office), P-4, Cairo

    Source: UNISDR Disaster Risk Reduction

    Apply here

    Created in December 1999, the United Nations Office for Disaster Risk Reduction (UNDRR) is the designated focal point in the United Nations system for the coordination of efforts to reduce disasters and to ensure synergies among the disaster reduction activities of the United Nations and regional organizations and activities in both developed and less developed countries. Led by the United Nations Special Representative of the Secretary-General for Disaster Risk Reduction (SRSG), UNDRR has over 160 staff located in its headquarters in Geneva, Switzerland, and in regional offices. Specifically, UNDRR guides, monitors, analyses and reports on progress in the implementation of the Sendai Framework for Disaster Risk Reduction 2015-2030, supports regional and national implementation of the Framework and catalyses action and increases global awareness to reduce disaster risk working with U.N. Member States and a broad range of partners and stakeholders, including civil society, the private sector, parliamentarians and the science and technology community. 

    This position is located in the UNDRR Regional Office for Arab States in Cairo. The incumbent serves as the Deputy Chief of the Regional Office and reports directly to the Chief.

    Within delegated authority, the incumbent will be responsible for the following duties: 

    • Serves as Deputy to the Chief of the Regional Office for the Arab States (ROAS). Under the supervision of the Chief of Office, actively contributes to the formulation and implementation of the work plan for the Regional Office in line with the UNDRR Strategic Framework and Work Programme. Undertakes, upon delegation from the Chief of Office, programmatic/administrative tasks necessary for the functioning of the Regional office, including preparation of work plans and budgets, recruitment and promoting capacity development of staff, evaluation of staff performance (PAS) through regular dialogue and feedback, and monitoring and reporting on budget/programme performance in the context of results-based management. Ensures that the outputs produced by teams under his/her supervision meet high-quality standards; that reports are clear, objective and based on comprehensive data; and that they comply with relevant organizational mandates. 
    • Contributes to UNDRR’s global resource mobilization efforts by mobilizing resources from the region. Actively promotes a positive team culture across the Regional Office recognizing innovation, agility, learning, accountability and transparency. 
    • Supports the Chief of the Regional Office in the coordination and implementation of UN Plan of Action on Disaster Risk Reduction for Resilience in the region. Ensures the integration of risk reduction policies and programmes through cooperation with the relevant regional coordination mechanisms, Resident Coordinator system and UN Country Team. Identifies, builds and enhances strategic partnerships for national, sub regional and regional cooperation with Governments, regional organizations, the private sector, civil society, parliamentarians, and science and technology community at large to mobilize support for sound and coherent action related to disaster risk reduction, and to ensure meaningful involvement and participation of those stakeholders in the development and implementation of effective disaster risk reduction policies, frameworks and programmes. Represents the Chief of Regional Office and UNDRR senior leadership in relevant meetings on disaster risk reduction in the region. Provides programmatic/substantive expertise on an issue and holds programmatic/substantive and organizational discussions with representatives of other institutions. 
    • Under the supervision of the Chief of Office, takes the lead in coordinating the preparations for the Regional Platform for Disaster Risk Reduction; develops and implements an action plan; coordinates internal preparations and co-ordinates a core team of colleagues responsible for their respective areas of work; directs preparation and review of relevant documents and reports; identifies priorities, problems and issues to be addressed and proposes corrective actions; liaises with relevant parties; identifies and initiates follow-up actions. Ensures engagement of relevant external stakeholders as part of the preparatory process; ensures continuous dialogue with the country hosting the Regional Platform; takes the lead in preparing the host country agreement; establishes the budget requirements for the Regional Platform and contributes to mobilization of resources for the Regional Platform; coordinates with relevant intergovernmental organizations in the region as well as UN partners and other stakeholders. Develops a follow-up action plan following each Regional Platform and monitors its implementation and works in collaboration with the Senior Programme Officer in charge of the Global Platform to ensure connectivity and coherence between the Regional Platform and ensures effective lessons learned from each Regional and Global Platform inform future Regional Platforms and their preparatory and follow-up processes. 
    • Supports the development of local, national and regional strategies in line with the Sendai Framework; strengthen policy and advocacy in support of risk informed development and ensure review and analysis of trends for the implementation of national policies and strategies are undertaken. In this regard, liaises with the Senior Programme Officer located in Bonn responsible for coordinating policy guidance on disaster risk reduction and contributes information and analysis on regional needs and priority areas of interests related to policy guidance and contributes to the development of global policy guidance from a regional perspective. Under the supervision of the Chief of Office, coordinates the implementation of ROAS Disaster Risk Reduction financing and de-risking initiatives, including on resilient infrastructure, in the region and at national level, working in cooperation with HQ colleagues and external partners. 
    • Under the supervision of the Chief of Office, contributes to effective planning and monitoring at the regional and global levels, ensure effective interface with HQ and other regions, and propose proactively new solutions and approaches. Integrate UN 2.0 approaches (data, digital, innovation, behavioural science, foresight and culture change) into the programme and operations priorities of the Regional Office. Collaborate with colleagues across offices to identify data analytics needs and support data-driven projects. Communicate and interpret data analysis findings and insights in a clear and understandable manner. Identify and define opportunities for data-driven decision-making. 
    • Acts as Officer in Charge for the role of the Chief of Office, when needed.

    Professionalism: Demonstrated knowledge of data life cycle including data collection, data wrangling, analysis, visualization, deployment, monitoring, and reporting. Knowledge and understanding of theories, concepts and approaches relevant to disaster risk reduction, climate change adaptation, or other related specialized field. Ability to identify issues, analyze and participate in the resolution of issues/problems. Ability to conduct data collection using various methods. Conceptual analytical and evaluative skills to conduct independent research and analysis, including familiarity with and experience in the use of various research sources, including electronic sources on the internet, intranet and other databases. Ability to apply judgment in the context of assignments given, plan own work and manage conflicting priorities. Shows pride in work and in achievements. Demonstrates professional competence and mastery of subject matter. Is conscientious and efficient in meeting commitments, observing deadlines and achieving results. Is motivated by professional rather than personal concerns. Shows persistence when faced with difficult problems or challenges; remains calm in stressful situations. Takes responsibility for incorporating gender perspectives and ensuring the equal participation of women and men in all areas of work. 

    Planning and organizing: Develops clear goals that are consistent with agreed strategies. Identifies priority activities and assignments; adjusts priorities as required. Allocates appropriate amount of time and resources for completing work. Foresees risks and allows for contingencies when planning. Monitors and adjusts plans and actions as necessary. Uses time efficiently. 

    Technological awareness: Keeps abreast of available technology. Understands applicability and limitations of technology to the work of the office. Actively seeks to apply technology to appropriate tasks. Shows willingness to learn new technology. 

    Judgement/decision making: Identifies the key issues in a complex situation, and comes to the heart of the problem quickly. Gathers relevant information before making a decision. Considers positive and negative impacts of decisions prior to making them. Takes decisions with an eye to the impact on others and on the Organization. Proposes a course of action or makes a recommendation based on all available information. Checks assumptions against facts. Determines that the actions proposed will satisfy the expressed and underlying needs for the decision. Makes tough decisions when necessary.

    An advanced university degree (Master’s degree or equivalent degree) in business administration, management, economics or a related field is required. A first-level degree (Bachelor’s degree or equivalent) in combination with two additional years of qualifying experience may be accepted in lieu of the advanced degree.

    Not available.

    A minimum of seven years of progressively responsible experience in project or programme management, administration or related area is required. 

    Experience in building strategic alliances, partnerships and resource mobilization is required. 

    Work experience in an international organization such as the United Nations or similar is required. 

    Experience in disaster risk reduction is required. 

    Experience of sustainable finance initiatives, environmental, social and governance (ESG) criteria in banking, lending and investment practices as well as compliance and regulatory regime is desirable.

    Experience advocating with governments and other stakeholders on critical issues is desirable. 

    Two years of demonstrated skills in data storytelling and data visualization tools such as Tableau, Power BI, Qlik, and R is desirable.

    English and French are the working languages of the United Nations Secretariat. For this position, fluency in English and Arabic is required. Knowledge of French is desirable. Knowledge of another UN official languages is desirable.

    Evaluation of qualified candidates may include an assessment exercise which may be followed by competency-based interview.

    Special Notice

    At the United Nations, the paramount consideration in the recruitment and employment of staff is the necessity of securing the highest standards of efficiency, competence and integrity, with due regard to geographic diversity. All employment decisions are made on the basis of qualifications and organizational needs. The United Nations is committed to creating a diverse and inclusive environment of mutual respect. The United Nations recruits and employs staff regardless of gender identity, sexual orientation, race, religious, cultural and ethnic backgrounds or disabilities. Reasonable accommodation for applicants with disabilities may be provided to support participation in the recruitment process when requested and indicated in the application. The United Nations Secretariat is committed to achieving 50/50 gender balance and geographical diversity in its staff. Female candidates are strongly encouraged to apply for this position. In line with the overall United Nations policy, the UN Office for Disaster Risk Reduction encourages a positive workplace culture which embraces inclusivity and leverages diversity within its workforce. Measures are applied to enable all staff members to contribute equally and fully to the work and development of the organization, including flexible working arrangements, family-friendly policies and standards of conduct. Individual contractors and consultants who have worked within the UN Secretariat in the last six months, irrespective of the administering entity, are ineligible to apply for professional and higher, temporary or fixed-term positions and their applications will not be considered. Pursuant to section 7.11 of ST/AI/2012/2/Rev.1, candidates recruited through the young professionals programme who have not served for a minimum of two years in the position of their initial assignment are not eligible to apply to this position.

    United Nations Considerations

    According to article 101, paragraph 3, of the Charter of the United Nations, the paramount consideration in the employment of the staff is the necessity of securing the highest standards of efficiency, competence, and integrity. Candidates will not be considered for employment with the United Nations if they have committed violations of international human rights law, violations of international humanitarian law, sexual exploitation, sexual abuse, or sexual harassment, or if there are reasonable grounds to believe that they have been involved in the commission of any of these acts. The term “sexual exploitation” means any actual or attempted abuse of a position of vulnerability, differential power, or trust, for sexual purposes, including, but not limited to, profiting monetarily, socially or politically from the sexual exploitation of another. The term “sexual abuse” means the actual or threatened physical intrusion of a sexual nature, whether by force or under unequal or coercive conditions. The term “sexual harassment” means any unwelcome conduct of a sexual nature that might reasonably be expected or be perceived to cause offence or humiliation, when such conduct interferes with work, is made a condition of employment or creates an intimidating, hostile or offensive work environment, and when the gravity of the conduct warrants the termination of the perpetrator’s working relationship. Candidates who have committed crimes other than minor traffic offences may not be considered for employment. Due regard will be paid to the importance of recruiting the staff on as wide a geographical basis as possible. The United Nations places no restrictions on the eligibility of men and women to participate in any capacity and under conditions of equality in its principal and subsidiary organs. The United Nations Secretariat is a non-smoking environment. Reasonable accommodation may be provided to applicants with disabilities upon request, to support their participation in the recruitment process. By accepting a letter of appointment, staff members are subject to the authority of the Secretary-General, who may assign them to any of the activities or offices of the United Nations in accordance with staff regulation 1.2 (c). Further, staff members in the Professional and higher category up to and including the D-2 level and the Field Service category are normally required to move periodically to discharge functions in different duty stations under conditions established in ST/AI/2023/3 on Mobility, as may be amended or revised. This condition of service applies to all position specific job openings and does not apply to temporary positions. Applicants are urged to carefully follow all instructions available in the online recruitment platform, inspira, and to refer to the Applicant Guide by clicking on “Manuals” in the “Help” tile of the inspira account-holder homepage. The evaluation of applicants will be conducted on the basis of the information submitted in the application according to the evaluation criteria of the job opening and the applicable internal legislations of the United Nations including the Charter of the United Nations, resolutions of the General Assembly, the Staff Regulations and Rules, administrative issuances and guidelines. Applicants must provide complete and accurate information pertaining to their personal profile and qualifications according to the instructions provided in inspira to be considered for the current job opening. No amendment, addition, deletion, revision or modification shall be made to applications that have been submitted. Candidates under serious consideration for selection will be subject to reference checks to verify the information provided in the application. Job openings advertised on the Careers Portal will be removed at 11:59 p.m. (New York time) on the deadline date.

    No Fee

    THE UNITED NATIONS DOES NOT CHARGE A FEE AT ANY STAGE OF THE RECRUITMENT PROCESS (APPLICATION, INTERVIEW MEETING, PROCESSING, OR TRAINING). THE UNITED NATIONS DOES NOT CONCERN ITSELF WITH INFORMATION ON APPLICANTS’ BANK ACCOUNTS.

    Apply here

    MIL OSI United Nations News –

  • MIL-OSI: XRP News: XploraDEX Enters Day 2 of Token Distribution—Presale Still Open as Early Investors Rush to Join XRPL’s Smartest DEX

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, Switzerland, April 23, 2025 (GLOBE NEWSWIRE) — The second day of $XPL Token distribution is underway, and momentum is only accelerating. As wallets across the XRP community continue to receive their allocations, a final wave of investor activity is sweeping into the XploraDEX presale window—still open for a limited time.

    After kicking off its token distribution just 24 hours ago, XploraDEX has triggered a new surge of excitement across social media, wallet trackers, and trading circles. With over 76% of $XPL tokens already allocated, this moment marks the final phase of the presale and the official transition into XRPL’s first live AI-powered DEX ecosystem.

    Buy $XPL Token Now

    While early adopters are already seeing tokens in their wallets, new investors still have time to join at presale pricing—but not for long. This is the last stretch before $XPL lists on decentralized exchanges at a higher price point and staking, governance, and dashboard access go fully live.

    Here’s what’s happening today:

    • Batch 2 of $XPL token distribution is now in progress
    • Presale window remains open during the 7-day distribution phase
    • Thousands of wallets already activated for staking and governance
    • Community buzz and whale wallet activity continue to climb

    Participate in $XPL Presale

    XploraDEX isn’t just delivering tokens—it’s delivering access. The platform blends real-time AI insights with on-chain execution, giving users:

    • Automated trading strategies based on machine learning
    • Early access to Launchpad deals for new XRPL projects
    • Smart portfolio management and live performance alerts
    • Staking pools, rewards programs, and discounted trading fees

    With each day of distribution, the window to be early grows smaller. Traders joining now aren’t just buying into a vision—they’re gaining direct access to infrastructure already rolling out in real time.

    Join $XPL Presale

    Why this matters:

    Most projects wait until post-launch to deliver utility. XploraDEX is building in public—and distributing tokens while opening platform features step by step. Investors who secure $XPL during this window will have first-mover access to DeFi’s most intelligent trading protocol on XRPL.

    This is more than a presale update. It’s a countdown.

    Secure Your $XPL Tokens Before the Presale Closes: https://sale.xploradex.io

    Live Updates on Launch: Website | $XPL Token Presale | X | Telegram

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

    Disclaimer: This press release is provided by the XploraDEX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.

    Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.

    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3efe82bd-887c-4b49-99f2-7e444e3aee59

    The MIL Network –

  • MIL-OSI: WISeKey Expands Implementation of Digital Identity Solutions from Seychelles to Africa: Empowering Nations with Secure National ID Systems

    Source: GlobeNewswire (MIL-OSI)

    WISeKey Expands Implementation of Digital Identity Solutions from Seychelles to Africa: Empowering Nations with Secure National ID Systems

    Geneva, Switzerland – April 23, 2025 — WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, today announces that following the successful implementation of “SeyID” in the Seychelles, it is extending proven digital identity solutions to other African nations to help them modernize and secure their national identification systems.

    Since 2022, WISeKey has collaborated with the government of Seychelles to launch SeyID, a comprehensive, secure, and user-friendly digital ID platform. Designed to integrate seamlessly with both public and private sector services, SeyID is now serving as a model for other African nations looking to establish or upgrade their national identity infrastructure.

    A Blueprint for Digital Transformation

    The SeyID platform leverages WISeKey’s trusted WISeID digital identity technology, which provides citizens with a mobile-accessible, secure virtual ID linked to key public services. These include healthcare, government portals, and the tourism industry, vital economic pillars for Seychelles.

    Through SeyID, citizens are able to complement their traditional physical ID cards with a virtual identity stored securely on their smartphones, making authentication easier and services more accessible. Tourists visiting Seychelles can also generate a digital Tourist ID using SeyID, which offers a frictionless digital experience while allowing visitors to access local services. This innovation has positioned Seychelles as a digital pioneer in the African region, providing a strong example of how national digital identity platforms can support economic growth and government efficiency.

    Scaling the Model Across Africa

    WISeKey is now in discussions with several African governments to replicate the SeyID model, tailoring it to meet local needs and regulatory frameworks. These next-generation digital ID solutions aim to:

    • Promote Financial Inclusion by enabling secure digital onboarding and Know Your Customer (KYC) compliance for banking services;
    • Streamline Public Administration by digitizing identity verification for social programs, healthcare, and education;
    • Enhance Tourism and Cross-Border Travel with digital tourist ID systems similar to that of Seychelles; and,
    • Protect Citizen Data with robust Swiss-grade cybersecurity and encryption.

    Use Cases: National Digital IDs as Catalysts for Economic Growth

    1. Digital Financial Services:
      A national digital ID allows unbanked populations to open bank accounts, access credit, and use mobile payment platforms securely, boosting participation in the formal economy and reducing reliance on cash.
    2. e-Government Services:
      Digital IDs facilitate efficient delivery of public services such as tax filing, business registration, land ownership verification, and social welfare programs, increasing transparency and reducing corruption.
    3. Agricultural Supply Chains:
      Farmers can register digitally to receive subsidies, track inputs, and access markets. This fosters trust, increases productivity, and reduces fraud in government support schemes.
    4. Healthcare Access:
      Verified digital IDs help in creating unified health records, ensuring that citizens receive timely, targeted, and secure healthcare, even across borders through regional interoperability.
    5. Job Market Activation:
      With a verifiable identity, citizens can access vocational training, apply for jobs online, and participate in gig economy platforms, driving workforce participation and economic inclusion.
    6. Entrepreneurship & Innovation:
      Startups and SMEs can benefit from streamlined licensing and easier access to investment through identity-based digital platforms, reducing bureaucratic delays and stimulating innovation.
    7. Tourism Growth:
      Digital tourist IDs simplify visa issuance, hotel check-ins, and tourist service access, creating a smoother visitor experience and increasing tourism revenues.
    8. Education & Youth Empowerment:
      Digital IDs allow students to enroll in programs, access e-learning platforms, and validate academic credentials, enhancing skills development for the digital economy.
    9. A Human-Centered, Privacy-First Approach

    WISeKey’s approach is grounded in respecting human dignity and data privacy. All identities created under its platforms are anchored in the OISTE.ORG Root of Trust, a globally recognized cryptographic trust model that guarantees sovereign control over digital identities.

    With the support of international development agencies and local governments, WISeKey is set to deliver customized digital ID solutions that are interoperable, future-proof, and aligned with international standards for data protection and digital governance.

    As Africa accelerates its digital transformation, WISeKey’s expansion beyond Seychelles marks a critical step in ensuring that secure, inclusive, and innovative identity solutions are at the heart of the continent’s technological and economic future.

    For more information, visit www.wisekey.com or follow WISeKey on LinkedIn and Twitter.

    About WISeKey

    WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

    Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.

    Disclaimer
    This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

    This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

    Press and Investor Contacts

    WISeKey International Holding Ltd
    Company Contact: Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com     		 WISeKey Investor Relations (US) 
    The Equity Group Inc.
    Lena Cati
    Tel: +1 212 836-9611
    lcati@equityny.com

    The MIL Network –

  • MIL-OSI: OTC Markets Group Welcomes ONWARD Medical N.V. to OTCQX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 23, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced ONWARD Medical N.V. (Euronext Brussels: ONWD; OTCQX: ONWRF, ONWRY), a medical technology company creating innovative spinal cord stimulation therapies to restore movement, function, and independence in people with spinal cord injury (SCI) and other movement disabilities now trades on the OTCQX market.

    ONWARD Medical N.V. begins trading today on OTCQX under the symbols “ONWRF and ONWRY.” US investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

    “We are pleased to expand access to US investors, many of whom have expressed interest in supporting ONWARD after learning about our mission to help people with spinal cord injury,” said Dave Marver, CEO of ONWARD Medical. “Trading on OTCQX provides greater visibility and the opportunity for improved liquidity. We have also established a sponsored Level 1 ADR program to facilitate ease of trading for qualified US financial institutions, with our ADRs also trading on OTCQX. Broader US investor participation is an important step in our journey to a potential US IPO.”

    “We are proud to announce the addition of ONWARD Medical to the OTCQX Market,” said Jason Paltrowitz, EVP of Corporate Services at OTC Markets. “This milestone not only marks a significant achievement for the company but also highlights the interplay between the European capital markets and U.S. investors seeking new investment opportunities.”

    Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

    ONWARD has also established a Level 1 ADR program to facilitate trading by qualified financial institutions. BNY acts as the depositary bank and transfer agent for the Company’s ADR program, with one ADR representing one ordinary share. The Company’s ADRs can also be traded on OTCQX under the ticker symbol ONWRY.

    About OTC Markets Group Inc.

    OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.

    Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

    OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS™ are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

    To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

    Subscribe to the OTC Markets RSS Feed

    About ONWARD Medical

    ONWARD Medical is a medical technology company creating therapies to restore movement, function, and independence in people with SCI and other movement disabilities. Building on more than a decade of scientific discovery, preclinical research, and clinical studies conducted at leading hospitals, rehabilitation clinics, and neuroscience laboratories, the Company has developed ARC Therapy, which has been awarded ten Breakthrough Device Designations from the US Food and Drug Administration (FDA). The Company’s ARC-EX System is now cleared for commercial sale in the US. In addition, the Company is developing an investigational implantable system called ARC-IM with and without an implanted brain-computer interface (BCI).

    Headquartered in the Netherlands, the Company has a Science and Engineering Center in Switzerland and a US office in Boston, Massachusetts. The Company is listed on Euronext Paris, Brussels, and Amsterdam (ticker: ONWD).

    For more information, visit ONWD.com and connect with us on LinkedIn and YouTube.

    To be kept informed about the Company’s technologies, research studies, and the availability of therapies in your area, please complete this webform.

    Media Contacts:

    For OTC Markets Group Inquiries:
    media@otcmarkets.com
    +1 (212) 896-4428

    For ONWARD Media Inquiries:  
    media@onwd.com 

    For ONWARD Investor Inquiries: 
    investors@onwd.com

    The MIL Network –

  • MIL-OSI Banking: Project Promissa: blockchain for multilateral development

    Source: Bank for International Settlements

    • Project Promissa explored how to manage the financial commitments of member countries to multilateral development banks (MDBs) more efficiently.
    • The project developed a proof-of-concept (PoC) platform for tokenised promissory notes, which could replace the current paper-based notes and automate many manual processes.
    • The experiment demonstrated that the PoC is technically feasible and could provide substantial cost savings for MDBs, central banks, and Ministries of Finance alike.

    Project Promissa, a collaboration between the Bank for International Settlements’ Innovation Hub, the Swiss National Bank, and the World Bank, has demonstrated that paper-based promissory notes can be redesigned using distributed ledger technology (DLT) to address operational challenges that make the process time-consuming and cumbersome.

    A promissory note is a financial instrument that contains a written and signed commitment by one party to pay a specified sum of money to another over a predetermined period.

    Since their creation, MDBs like the World Bank and others have used promissory notes to track and encash multi-year financial commitments from member countries in a process that is overly complicated and requires constant reconciliation. The volume of promissory notes across MDBs is significant, representing a substantial portion of contributions pledged by member countries.

    Project Promissa developed a Proof of Concept (PoC) platform for tokenised promissory notes, enabling more efficient management of the notes throughout their lifecycle, from issuance to payment and archiving, thereby automating manual processes and reducing time and costs.

    Project Promissa is a clear example of how blockchain can be used for the public good. Paper-based promissory notes have been in place since the Bretton Woods institutions were established, helping to finance their important activities worldwide. The digital solutions tested by Promissa represent a significant step forward in modernising this process in a cost-effective manner.

    Morten Bech, Head of the BIS Innovation Hub’s Swiss Centre

    Project Promissa is a forward-looking initiative that contributes to the G20’s vision of better, and more effective multilateral development banks. The World Bank is proud to collaborate with the BIS Innovation Hub and the Swiss National Bank in shaping practical solutions that support transparency, trust, and scale in development finance. By exploring how member contributions can evolve through tokenised promissory notes, this project helps us reimagine a key part of our financial architecture and it is a powerful example of how blockchain can be harnessed for global good.

    Jorge Familiar, Vice President and Treasurer, World Bank

    As the custodian of Switzerland’s promissory notes, we value the digitisation of our operations through distributed ledger technology. Project Promissa points to a unique opportunity to modernise error-prone paper processes and establish a single source of truth, significantly reducing reconciliation needs and enhancing efficiency.

    Thomas Moser, Alternate Member of the Governing Board, Swiss National Bank

    The DLT platform ensures users have a single source of truth, enables multiparty signatures and guarantees confidentiality while maintaining each party’s ownership, control and decision-making power over its promissory notes. Participants from seven countries contributed to the testing and gave feedback to improve the PoC. The International Monetary Fund participated as an observer.

    The results published in the final report show that such a platform is technically feasible. It also demonstrated that the platform can be tailored to meet various requirements. More work would be required to make it operational.

    Note to editors:
    BIS Innovation Hub projects are typically experimental, aiming to investigate the technological and practical feasibility of new ideas.

    MIL OSI Global Banks –

  • MIL-OSI Asia-Pac: PRESENTATION OF CREDENTIALS OF THE AMBASSADOR OF THE SWISS CONFEDERATION TO THE INDEPENDENT STATE OF SAMOA

    Source:

    Share this:

    [PRESS RELEASE – TUESDAY 8 APRIL 2025] – His Excellency Mr. Victor Vavricker presented his Letters of Credence to the Head of State of the Independent State of Samoa, Afioga Tuimaleali’ifano Va’aletoa Sualauvi II, at a Credentials Ceremony held this morning at the Official Residence of the Head of State at Vailele, accrediting His Excellency as the Ambassador Extraordinary and Plenipotentiary of Switzerland to Samoa with residence in Wellington, New Zealand.

    Samoa and Switzerland have enjoyed cordial relations since the establishment of formal ties on 1 August 1981. Over the years, our collaboration has grown through shared values of multilateralism, sustainable development, and in addressing the challenges posed by climate change. Ambassador Vavricka reaffirmed Switzerland’s continued support for Samoa and the Pacific region, underscoring the importance of cooperation, respect for sovereignty, and shared development goals, as well as recognizing the vital role of Small Island Developing States (SIDS) in the global community.

    Afioga Tuimaleali’ifano Va’aletoa Sualauvi II welcomed the Ambassador and acknowledged the growing partnership between Samoa and Switzerland. The Head of State highlighted Switzerland’s contributions to international development initiatives, particularly those that align with Samoa’s national priorities. His Highness reaffirmed Samoa’s confidence in the strengthening of bilateral relations, noting that Ambassador Vavricka’s tenure would further enhance the strong and enduring partnership between the two countries. The Head of State also acknowledged the contributions of the Honorary Consul Mrs. Sylvie Salanoa in strengthening Samoa-Switzerland relations through small grant projects in the local community.

    H.E. Mr. Viktor Vavricka holds a licentiate in Law from the University of Zurich. He entered the service of the Federal Department of Foreign Affairs in 2002, where he was initially assigned as a stagiaire in Bern and Ottawa. Mr. Vavricka has held several senior positions within Switzerland’s foreign service, including heading the Human Rights and International Humanitarian Law Section in the Directorate of International Law and the Asset Recovery Task Force. He also held various diplomatic postings including as Deputy Head of Mission in Riyadh, Saudi Arabia, Bangkok, Thailand, and Berlin, Germany. In 2021, he was appointed Ambassador Extraordinary and Plenipotentiary of Switzerland to New Zealand with cross accreditation to Cook Islands, Fiji, Samoa, Tonga, and Tuvalu. He also serves as the Consul General to American Samoa.

    END

    Photo by the Government of Samoa (Jasmine Netzler-Iose)

    Share this:

    MIL OSI Asia Pacific News –

  • MIL-OSI NGOs: “Let us do our jobs” — Major aid groups in Gaza warn aid system is collapsing

    Source: Oxfam –

    After 18 months of war, a staggering toll on civilians and aid workers, and now a six-week total siege, the humanitarian aid system in Gaza is facing total collapse with the CEOs of 12 major aid organisations making an urgent plea: let us do our jobs. 

    A new humanitarian access survey of 43 international and Palestinian aid organisations working in Gaza found nearly all of them – 95% – have had to suspend or dramatically cut services since the ceasefire ended one month ago on 18 March, with widespread and indiscriminate bombing making it extremely dangerous to move around.

    The people of Gaza – particularly women and children – are paying the price. Families are living amongst the rubble of their destroyed homes.  Famine is not just a risk, but likely rapidly unfolding in almost all parts of Gaza. The UN has warned the humanitarian crisis in Gaza is the worst it has been in 18 months.

    Stripped of the means to keep people alive, hospitals have become morgues. More than 51,000 Palestinians have been reported killed. One of the last partially functioning hospitals, Al-Ahli Arab Hospital in northern Gaza, was bombed last Sunday.  

    “This is one of the worst humanitarian failures of our generation. Every single person in Gaza is relying on humanitarian aid to survive. That lifeline has been completely cut off since a blockade on all aid supplies was imposed by Israeli authorities on 2 March.  

    “We have supplies ready. We have trained medical staff. We have the expertise. What we don’t have is the access – or the guarantee by Israeli authorities that our teams can safely do their jobs.  

    “Survival itself is now slipping out of reach and the humanitarian system is at breaking point,” the CEOs of the 12 aid organisations said in their joint statement.  

    Twenty-four of the surveyed organisations reported increased movement restrictions in Gaza, impeding their ability to deliver aid.  Nineteen aid organisations reported having cargo stuck outside Gaza, totaling at least 9,000 pallets of aid supplies.  

    Gaza now holds the disastrous record of being the deadliest place on earth for humanitarian workers. We cannot operate under fire or stay silent while our staff are killed. 

    More than 400 aid workers and over 1,300 health workers have been reported killed in Gaza since October 2023, despite the requirement under international humanitarian law for humanitarian workers to be protected.  

    The recent killing of 15 Palestinian paramedics and rescue workers, whose bodies were found buried in a mass grave triggered global outrage, but many violations and attacks go unreported. 

    Despite hopes that the eight-week pause in hostilities would become a turning point, the violence against civilians and aid workers has only worsened. Since Israeli forces resumed bombardments, at least 14 organisations reported Israeli fire directly or indirectly hitting their staff or aid facilities.  

    Every day, aid workers – the majority of whom are Palestinian – are targeted, detained, obstructed or killed. Just as every day, rules meant to protect civilians in war are ignored with impunity.  When our staff and partners, our convoys, our offices, our warehouses are shelled, the message is loud and clear: even lifesaving aid is no longer protected. 

    This is unacceptable. 

    Meanwhile, Israeli authorities have proposed a new authorisation mechanism for the delivery of aid in Gaza that the UN Secretary-General has described as “limiting aid down to the last calorie and grain of flour.” This mechanism would set a dangerous new global precedent and eliminate any remaining space to deliver aid independent of military and political motivations. New NGO visa and registration rules, based on vague criteria, will censor humanitarian reporting and prevent us from fulfilling our mandate. 

    We call on all parties to guarantee the safety of our staff and to allow the safe, unfettered access of aid into and across Gaza through all entry points, and for world leaders to oppose further restrictions. 

    We call for the protection of civilians and civilian infrastructure including hospitals, schools and shelters and the immediate restoration of basic services – water, electricity, and sanitation as required under international law. 

    We call for the release of the hostages. 

    We call for the release of all Palestinians arbitrarily detained. 

    We call, yet again, resoundingly, for an immediate and permanent ceasefire. 

    Humanitarian aid must never be used as a political tool. Saving lives should not be controversial. Laws of war developed over centuries to govern conduct and protect civilians should not now be discarded. 

    Let us do our jobs.  

    INGER ASHING, CEO, Save the Children International 

    AMITABH BEHAR, Executive Director, Oxfam International 

    SEAN CARROLL, President and CEO, Anera

    STEVE CUTTS, interim Chief Executive Officer, Medical Aid for Palestinians (MAP)  

    NICOLAS DOTTA, CEO, Médecins du Monde Spain

    JAN EGELAND, Secretary General, Norwegian Refugee Council (NRC) 

    REENA GHELANI, CEO, Plan International

    MANUEL PATROUILLARD, Managing Director, Humanity & Inclusion – Handicap International  

    MORGANE ROUSSEAU, CEO, Médecins du Monde Switzerland

    REINTJE VAN HAERINGEN, Chair – Executive Committee, CARE International 

    JOEL WEILER, CEO, Médecins du Monde France

    ROB WILLIAMS, CEO, War Child Alliance

    MIL OSI NGO –

  • MIL-OSI: Philipp Rüede appointed CEO SCOR L&H and Member of SCOR’s Executive Committee

    Source: GlobeNewswire (MIL-OSI)

    Press release
    23 April 2025 – N° 08

    Philipp Rüede appointed CEO SCOR L&H 
    and Member of SCOR’s Executive Committee

    We are pleased to announce Philipp Rüede as the new CEO SCOR Life & Health and a Member of the Executive Committee. Philipp is replacing Frieder Knüpling who stepped down in July 2024. Philipp’s immediate priorities will be to drive the L&H new business strategy, to protect and deliver the in-force value, and to improve the cash profile of the L&H business, in line with the updated L&H strategy unveiled at our Investor Day in December 2024.

    Philipp Rüede, a dual Swiss and German citizen, is a graduate of the Ecole Polytechnique in Paris and holds a Master’s degree in Engineering from the Swiss Federal Institute of Technology (ETH Zürich). He has more than 20 years of experience in Banking and Reinsurance. Philipp began his career in 1999, in the Equity Derivatives Structuring and Trading department at Bank Vontobel in Zurich. From 2000 to 2010, he was Global Co-Head of Equity Derivatives Structuring at CS First Boston, splitting his time between the Zurich and Hong Kong offices. In 2010, he became a Partner at the Swiss electronic trading company Arbillon Capital AG. Moving into the reinsurance industry in 2013, he joined Swiss Re in Zurich as Head of Reinsurance Capital Management, overseeing the optimization of capital efficiency within the Group. From 2015 to 2019, he led a dedicated team of more than 75 professionals as Global Head of P&C Structured Solutions. In 2019, he was appointed Head of the newly formed Alternative Capital Partners team, collaborating across P&C and L&H (re)insurance lines to proactively manage risk limits and enhance the company’s flexible capital structure.

    Philipp will take up his position on 1 June 2025.

    Thierry Léger, Chief Executive Officer of SCOR, comments: “Philipp will bring very valuable and complementary skills to SCOR. With his extensive experience and wide-ranging expertise, Philipp has all the qualities required to continue the transformation of our L&H business, restore its profitability, and improve its cash profile. The whole Executive Committee joins me in welcoming Philipp and wishing him every success in his new responsibilities.”

    *

    *        *

    SCOR, a leading global reinsurer

    As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk,” SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society.

    The Group generated premiums of EUR 20.1 billion in 2024 and serves clients in more than 150 countries from its 37 offices worldwide.

    For more information, visit: www.scor.com

    		 Media Relations
    Alexandre Garcia
    media@scor.com

    Investor Relations
    Thomas Fossard
    InvestorRelations@scor.com

    Follow us on LinkedIn
     

    All content published by the SCOR group since January 1, 2024, is certified with Wiztrust. You can check the authenticity of this content at wiztrust.com.

    Attachment

    The MIL Network –

  • MIL-OSI: VERAXA Biotech and Voyager Acquisition Corp. Announce Business Combination Agreement to Create Nasdaq-Listed Biopharmaceutical Company Advancing a Pipeline of Next-Generation Cancer Therapies

    Source: GlobeNewswire (MIL-OSI)

    • VERAXA’s Novel BiTAC Platform has the Potential to Deliver Multiple Next-Generation Solid Tumor Cancer Therapies, Including Novel Antibody-Drug Conjugate (“ADC”) and Bispecific T-cell Engager (“TCE”) Candidates, with Strong and Differentiated Clinical Profiles
    • Company Pursuing Multiple Strategic Partnerships and Licensing Opportunities in 2025 and 2026
    • Transaction Values VERAXA at a Pre-money Equity Value of $1.3 Billion
    • Actively Working with Existing and New VERAXA Investors to Raise a Crossover Financing Round, which is Expected to Close Ahead of the Business Combination, Alongside up to $253 Million in Cash Held in Trust
    • Business Combination is Expected to be Completed in the Fourth Quarter of 2025
    • A Joint Investor Presentation Providing an Overview of the Proposed Transaction can be Viewed: https://dealroadshow.com/e/VER2025

    ZURICH, Switzerland, and BROOKLYN, New York, April 23, 2025 (GLOBE NEWSWIRE) — VERAXA Biotech AG (“VERAXA” or the “Company”), an emerging leader in designing novel cancer therapies, and Voyager Acquisition Corp., a Cayman Islands exempted company and special purpose acquisition company targeting the healthcare sector (NASDAQ: VACH, “Voyager” or the “SPAC”), announced today that they have entered into a definitive business combination agreement (the “Business Combination Agreement”). The proposed business combination (the “Business Combination”) would create a publicly traded, clinical-stage biopharmaceutical company focused on the development of a comprehensive pipeline of next-generation cancer therapies. Upon closing of the transaction, VERAXA Biotech AG is expected to list on NASDAQ under the proposed ticker symbol “VERX.”

    VERAXA Overview

    VERAXA is advancing a premier drug discovery and development engine for ADCs and other novel antibody-based therapy concepts. Through Bi-Targeted Antibody Cytotoxicity (“BiTAC”), a powerful and scalable proprietary technology platform that enables a highly specific dual-marker approach, the Company is accelerating a pipeline of next-generation cancer therapies that have the potential to expand the therapeutic window of current solid tumor standard of care treatments through improved safety and efficacy profiles.

    The Company has recently widened the scope of its AI-enabled technology platform and is now actively pursuing two major drug modalities:

    • Next-generation bispecific antibody drug conjugates, BiTAC ADCs and bsADCs, and
    • Bi-specific antibodies targeting key immune cells, also called T cell engagers, or TCEs.

    Both therapeutic modalities represent highly active and growing markets within the cancer therapy sector, respectively. The global TCE market is projected to reach $112 billion in 2030 with a CAGR of >44%. Similarly, the global ADC market size is projected to reach $57 billion by 2030 with a CAGR of close to 30%.

    “VERAXA is committed to developing and delivering the next wave of safe and highly efficacious cancer therapies. Our platform technologies can be applied to empower multiple therapeutic strategies spanning next-generation antibody-drug conjugates including our BiTAC ADCs and bi-specific BiTAC immune cell engagers,” stated Christoph Antz, Ph.D., CEO and Co-Founder of VERAXA. “Side effects too often limit today’s cancer therapies and prevent doctors from applying optimal dose levels. Our latest platform innovation, the BiTAC format, is designed to specifically address this issue and create first-in-class drug candidates with unprecedented safety and efficacy.”

    VERAXA’s pipeline currently comprises nine discovery and development programs at various stages in development, including an active Phase 1 program in leukemia. The Company’s most advanced clinical asset, VX-A901, is a highly differentiated Fc-enhanced therapeutic antibody targeting FLT3 and has shown potent anti-cancer activity. VX-A901 has backbone therapy potential addressing different patient groups across several treatment lines and settings with a complementary Mechanism of Action to currently available treatment options. Through a two-fold approach of pursuing both internal innovation and strategic partnerships, the Company anticipates having a robust pipeline by 2029, including three proprietary development programs in the clinic and a growing portfolio of licensed assets.

    VERAXA is led by an experienced team headed by Chief Executive Officer Christoph Antz, Ph.D and Chief Business Officer Heinz Schwer, Ph.D., MBA., both serial entrepreneurs and former venture capital investors. The leadership team is supported by international scientific advisors including Prof. Dr. Ralf C. Bargou, a renowned immuno-oncology expert whose scientific work has contributed to the successful development of the first FDA-approved bispecific cancer therapy with blinatumomab.

    VERAXA Biotech’s majority shareholders are Xlife Sciences AG (SIX: XLS), a Swiss-based publicly listed life science incubator fund, the European Molecular Biology Laboratory (“EMBL”), and its technology transfer arm EMBLEM.

    “Voyager’s mission is to identify innovative healthcare companies positioned for long-term success with strong business models and expansive total addressable markets. VERAXA exemplifies all these compelling characteristics, underscored by a steadfast commitment to bring transformative drug modalities to cancer patients through pursuing strategic global partnerships and advancing its proprietary pipeline,” stated Adeel Rouf, Chief Executive Officer and Director of Voyager Acquisition Corp. “We believe that the rapid change that ADCs and bispecific therapies have delivered and will continue to deliver to cancer therapy creates compelling opportunities for those with the vision to capitalize on them.”

    “The planned NASDAQ listing of VERAXA Biotech marks a pivotal milestone for both VERAXA and Xlife Sciences and exemplifies our mission of bringing groundbreaking science from the lab to life – and to the market,” stated Oliver Baumann, Acting Chairman of the VERAXA Board and CEO of Xlife Sciences. “The access to the U.S. capital markets provided by this combination will support the realization of Veraxa’s powerful technology platform and clinical assets, paving the way for potential significant value creation. We are proud to have supported VERAXA from its inception and, as one of the Company’s largest shareholders, we are confident that this transaction will significantly accelerate its ability to deliver first-in-class therapies to patients worldwide.”

    “We believe next-generation ADCs and bispecifics will continue to revolutionize oncology, due to their significant improvement over standard of care treatments and higher probability of technical and regulatory success compared to other oncology drugs, as evidenced by multiple deals in excess of $1 billion each since 2023 in this space,” stated Warren Hosseinion, M.D., Chairman of the Board of Voyager Acquisition Corp. “VERAXA’s robust pipeline of drug candidates was developed by leveraging its next-generation technology platform approach to drug discovery, development, and delivery, which we believe has the potential to dramatically cut development costs and time.”

    Transaction Overview

    Under the terms of the Business Combination Agreement, VERAXA’s equity value contribution into the Business Combination will amount to approximately $1.3 billion. Accordingly, VERAXA’s shareholders will receive approximately 130 million ordinary shares of the combined company in exchange for their existing VERAXA shares. Existing VERAXA shareholders and management will not receive any cash proceeds as part of the transaction and will roll over 100% of their equity into the combined company.

    Assuming a share price of $10.00 per share and no redemptions of Voyager’s shares by Voyager’s public shareholders, VERAXA (as a combined entity) is expected to have an implied pro forma equity value of approximately $1.64 billion at closing.

    Upon the closing of the Business Combination, VERAXA anticipates access to approximately up to $253 million in cash held in trust by Voyager, prior to the payment of transaction costs of VERAXA and Voyager, and assuming no redemptions by Voyager’s public shareholders.

    Additionally, VERAXA is actively raising a crossover financing round from existing and new investors, which the Company expects to close prior to the completion of the Business Combination. Net proceeds from this capital raise are expected to provide VERAXA with sufficient capital for the next two years, not including various potential partnering and co-development opportunities.

    The boards of directors of both Voyager and VERAXA have unanimously approved the Business Combination. Voyager and VERAXA expect the Business Combination to close in the fourth quarter of 2025. The transaction is subject to approval of Voyager’s and VERAXA’s shareholders and the satisfaction of certain other customary closing conditions.

    Additional information about the transaction will be provided in a Current Report on Form 8-K that will contain an investor presentation to be filed with the Securities and Exchange Commission (“SEC”) and will be available at www.sec.gov. In addition, VERAXA intends to file relevant materials with the SEC, including a registration statement on Form F-4 (the “Registration Statement”) to be filed with the SEC, which will include a proxy statement/prospectus of Voyager, and will file other documents regarding the Business Combination with the SEC. This communication Is not intended to be, and is not, a substitute for the proxy statement/prospectus or any other document that Voyager has filed or may file with the SEC in connection with the Business Combination.

    Advisors

    Anne Martina Group is acting as sole M&A advisor to VERAXA. Duane Morris LLP is acting as legal counsel to VERAXA. Winston & Strawn LLP is serving as legal counsel to Voyager.

    Transaction Presentation Details

    A presentation providing further details on the transaction can be found here: https://dealroadshow.com/e/VER2025

    About VERAXA Biotech

    At VERAXA Biotech, we are building a premier engine for the discovery and development of next-generation antibody-based therapeutics, including BiTAC antibody-drug conjugates (“BiTAC ADCs”), bispecific T cell engagers (“BiTAC TCEs”), and other innovative formats. Powered by a suite of transformative technologies and guided by rigorous quality-by-design principles, we are rapidly advancing our pipeline of ADCs and proprietary BiTAC formats into clinical development and beyond. VERAXA Biotech was founded on scientific breakthroughs made at the European Molecular Biology Laboratory (“EMBL”), a world-renowned institution known for pioneering life science research and cutting-edge technologies. For more information, please visit www.veraxa.com.

    About Voyager Acquisition Corp.

    Voyager Acquisition Corp. is a special purpose acquisition company with a bold mission: to revolutionize the healthcare sector through a merger, stock purchase, or business combination. Our team of experienced executives includes unparalleled expertise in investing, operations, and medical innovation, supported by a vast network of connections. With these strengths, we not only seek to drive success but commit to scaling companies to unprecedented heights in the healthcare industry. For more information, please visit https://www.voyageracq.com.

    About Xlife Sciences AG (SIX: XLS)

    Xlife Sciences is a Swiss company focused as incubator and accelerator on the value development and commercialization of promising research projects from universities and other research institutions in the life sciences sector, with the aim of providing solutions for high unmet medical needs and a better quality of life. The goal is to bridge research and development to healthcare markets. Xlife Sciences takes carefully selected projects in the four areas of technological platforms, biotechnology/ therapies, medical technology, and artificial intelligence/digital health to the next stage of development and participates in their subsequent performance. For more information, visit https://www.xlifesciences.ch/en/home

    Participants In the Solicitation

    Voyager, VERAXA, and their respective directors, executive officers, other members of management and employees may be deemed participants in the solicitation of proxies from Voyager’s stockholders with respect to the Business Combination. Investors and security holders may obtain more detailed information regarding the names and interests in the Business Combination of Voyager’s directors and officers in Voyager’s filings with the SEC, including, when filed with the SEC, the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus, amendments and supplements thereto, and other documents filed with the SEC. Such information with respect to VERAXA’s directors and executive officers will also be included in the proxy statement/prospectus. You may obtain free copies of these documents as described below under the heading “Additional Information and Where to Find It”.

    Non-Solicitation

    This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Voyager or VERAXA, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.

    Forward-Looking Statements

    This press release includes certain statements that may be considered forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include, without limitation, statements about future events or Voyager’s or VERAXA’s future financial or operating performance. For example, statements regarding VERAXA’s anticipated growth and the anticipated growth and other metrics, statements regarding the benefits of the Business Combination, and the anticipated timing of the completion of the Business Combination are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology.

    These forward-looking statements regarding future events and the future results of Voyager and VERAXA are based on current expectations, estimates, forecasts, and projections about the industry in which VERAXA operates, as well as the beliefs and assumptions of Voyager’s management and VERAXA’s management. These forward-looking statements are only predictions and are subject to, without limitation, (i) known and unknown risks, including the risks and uncertainties indicated from time to time in the final prospectus of Voyager relating to its initial public offering filed with the SEC, including those under “Risk Factors” therein, and other documents filed or to be filed with the SEC by Voyager; (ii) uncertainties; (iii) assumptions; and (v) other factors beyond Voyager’s or VERAXA’s control that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. They are neither statements of historical fact nor promises or guarantees of future performance. Therefore, VERAXA’s actual results may differ materially and adversely from those expressed or implied in any forward-looking statements and Voyager and VERAXA therefore caution against relying on any of these forward-looking statements.

    These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Voyager and its management, VERAXA and its management, as the case may be, are inherently uncertain and are inherently subject to risks, variability and contingencies, many of which are beyond Voyager’s or VERAXA’s control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement and any subsequent definitive agreements with respect to the Business Combination; (ii) the outcome of any legal proceedings that may be instituted against Voyager, VERAXA, or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (iii) the inability to complete the Business Combination due to the failure to obtain consents and approvals of the shareholders of Voyager, to obtain financing to complete the Business Combination or to satisfy other conditions to closing, or delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals required to complete the transactions contemplated by the Business Combination Agreement; (iv) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (v) projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, and the estimated implied enterprise value of VERAXA; (vi) VERAXA’s ability to scale and grow its business, and the advantages and expected growth of VERAXA; (vii) VERAXA’s ability to source and retain talent, the cash position of VERAXA following closing of the Business Combination; (viii) the ability to meet stock exchange listing standards in connection with, and following, the consummation of the Business Combination; (ix) the risk that the Business Combination disrupts current plans and operations of VERAXA as a result of the announcement and consummation of the Business Combination; (x) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of VERAXA to grow and manage growth profitably, maintain key relationships and retain its management and key employees; (xi) costs related to the Business Combination; (xii) changes in applicable laws, regulations, political and economic developments; (xiii) the possibility that VERAXA may be adversely affected by other economic, business and/or competitive factors; (xiv) VERAXA’s estimates of expenses and profitability; (xv) the failure to realize estimated shareholder redemptions, purchase price and other adjustments; and (xvi) other risks and uncertainties set forth in the filings by Voyager with the SEC. There may be additional risks that neither Voyager nor VERAXA presently know or that Voyager and VERAXA currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Any forward-looking statements made by or on behalf of Voyager or VERAXA speak only as of the date they are made. None of Voyager or VERAXA undertakes any obligation to update any forward-looking statements to reflect any changes in their respective expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

    Additional Information and Where to Find It

    In connection with the Business Combination, Voyager and/or VERAXA intend to file relevant materials with the SEC, including the Registration Statement, which will include a proxy statement/prospectus of Voyager, and will file other documents regarding the proposed transaction with the SEC. This communication is not intended to be, and is not, a substitute for the proxy statement/prospectus or any other document that Voyager has filed or may file with the SEC in connection with the proposed transaction. When available, the definitive proxy statement and other relevant materials for the proposed transaction will be mailed or made available to stockholders of Voyager as of a record date to be established for voting on the proposed transaction.

    Before making any voting or investment decision, investors and stockholders of Voyager are urged to carefully read, when they become available, the entire registration statement, the proxy statement/prospectus, and any other relevant documents filed with the SEC, as well as any amendments or supplements to these documents, and the documents incorporated by reference therein, because they will contain important information about Voyager, VERAXA, and the proposed transaction. Voyager’s investors and stockholders and other interested persons will also be able to obtain copies of the registration statement, the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus, other documents filed with the SEC that will be incorporated by reference therein, and all other relevant documents filed with the SEC by Voyager in connection with the Transaction, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to Voyager at the address set forth below.

    Contact

    The MIL Network –

  • MIL-OSI: Enphase Energy Reports Financial Results for the First Quarter of 2025

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., April 22, 2025 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, announced today financial results for the first quarter of 2025, which included the summary below from its President and CEO, Badri Kothandaraman.

    We reported quarterly revenue of $356.1 million in the first quarter of 2025, along with 48.9% for non-GAAP gross margin. We shipped approximately 1.53 million microinverters, or 688.5 megawatts DC, and 170.1 megawatt hours (MWh) of IQ® Batteries.

    Highlights for the first quarter of 2025 are listed below:

    • Completed IQ® Meter Collar testing with PG&E and four other U.S. utilities
    • Strong U.S. manufacturing: shipped approximately 1.21 million microinverters and 44.1 MWh of IQ Batteries
    • Revenue of $356.1 million
    • GAAP gross margin of 47.2%; non-GAAP gross margin of 48.9% with net IRA benefit
    • Non-GAAP gross margin of 38.3%, excluding net IRA benefit of 10.6%
    • GAAP operating income of $31.9 million; non-GAAP operating income of $94.6 million
    • GAAP net income of $29.7 million; non-GAAP net income of $89.2 million
    • GAAP diluted earnings per share of $0.22; non-GAAP diluted earnings per share of $0.68
    • Free cash flow of $33.8 million; ending cash, cash equivalents, restricted cash and marketable securities of $1.53 billion

    Our revenue and earnings for the first quarter of 2025 are provided below, compared with the prior quarter:

    (In thousands, except per share and percentage data)

      GAAP   Non-GAAP
      Q1 2025   Q4 2024   Q1 2024   Q1 2025   Q4 2024   Q1 2024
    Revenue $ 356,084     $ 382,713     $ 263,339     $ 356,084     $ 382,713     $ 263,339  
    Gross margin   47.2 %     51.8 %     43.9 %     48.9 %     53.2 %     46.2 %
    Operating expenses $ 136,319     $ 143,489     $ 144,607     $ 79,423     $ 83,322     $ 82,587  
    Operating income (loss) $ 31,922     $ 54,804     $ (29,099 )   $ 94,637     $ 120,434     $ 38,994  
    Net income (loss) $ 29,730     $ 62,160     $ (16,097 )   $ 89,243     $ 125,862     $ 47,956  
    Basic EPS $ 0.23     $ 0.46     $ (0.12 )   $ 0.68     $ 0.94     $ 0.35  
    Diluted EPS $ 0.22     $ 0.45     $ (0.12 )   $ 0.68     $ 0.94     $ 0.35  
                                                   

    Total revenue for the first quarter of 2025 was $356.1 million, compared to $382.7 million in the fourth quarter of 2024. Our revenue in the United States for the first quarter of 2025 decreased approximately 13%, compared to the fourth quarter. The decline was the result of seasonality and softening in U.S. demand, partially offset by safe harbor revenue of $54.3 million. Our revenue in Europe increased approximately 7% for the first quarter of 2025, compared to the fourth quarter. The increase in revenue was primarily due to higher battery sales as we ramped shipments of our IQ® Battery 5P with FlexPhase.

    Our non-GAAP gross margin was 48.9% in the first quarter of 2025, compared to 53.2% in the fourth quarter, primarily due to lower bookings of 45X production tax credits and product mix. Our non-GAAP gross margin, excluding net benefit from the Inflation Reduction Act (IRA), was 38.3% in the first quarter of 2025, compared to 39.7% in the fourth quarter, primarily due to product mix.

    Our non-GAAP operating expenses were $79.4 million in the first quarter of 2025, compared to $83.3 million in the fourth quarter. The decrease was the result of restructuring actions initiated in the fourth quarter of 2024. Our non-GAAP operating income was $94.6 million in the first quarter of 2025, compared to $120.4 million in the fourth quarter.

    We exited the first quarter of 2025 with $1.53 billion in cash, cash equivalents, restricted cash and marketable securities and generated $48.4 million in cash flow from operations in the first quarter. During the first quarter of 2025, we paid off the entire principal amount of $102.2 million in convertible senior notes that matured on March 1, 2025. Our capital expenditures were $14.6 million in the first quarter of 2025, compared to $8.1 million in the fourth quarter of 2024.

    In the first quarter of 2025, we repurchased 1,594,105 shares of our common stock at an average price of $62.71 per share for a total of approximately $100.0 million. We also spent approximately $12.1 million by withholding shares to cover taxes for employee stock vesting that reduced the diluted shares by 203,358 shares.

    We shipped 170.1 MWh of IQ Batteries in the first quarter of 2025, compared to 152.4 MWh in the fourth quarter. More than 10,900 installers worldwide are certified to install our IQ Batteries, compared to more than 10,300 installers worldwide in the fourth quarter of 2024.

    During the first quarter of 2025, we shipped approximately 1.21 million microinverters from our contract manufacturers in the United States that we booked for 45X production tax credits. We continued to ship our IQ8HC™ Microinverters, IQ8P-3P™ Commercial Microinverters, and IQ® Battery 5Ps from our contract manufacturers in the United States. When paired with other U.S.-made solar components, our products enable lease and power purchase agreement (PPA) providers to qualify for the domestic content bonus tax credit under the IRA.

    We continued to make progress with recent product introductions. We are now shipping our IQ Battery 5P with FlexPhase into Germany, Austria, Switzerland, Luxembourg, and Poland. Customers appreciate the reliable backup power the product delivers for both single-and three-phase installations. Our IQ® EV Charger 2, currently shipping to 14 countries in Europe, is our most advanced residential charger to date. This product can support up to 22 kW of three-phase charging and operate either as a standalone charger or fully integrated with Enphase microinverters and batteries. Finally, our customers are enjoying the plug-and-play simplicity of our IQ® PowerPack 1500, our first foray into the portable consumer market.

    In the second quarter of 2025, we expect to introduce our fourth-generation IQ® Battery 10C, IQ Meter Collar, and IQ® Combiner 6C products in the United States. Together, these products will make backup installations easy and help reduce costs. We also expect to launch our IQ® Balcony Solar Kit, a simple and efficient solution for harnessing solar energy from panels installed on apartment balconies, in Germany and Belgium.

    BUSINESS HIGHLIGHTS

    On April 8 and 9, 2025, Enphase Energy announced the launch of its IQ Battery 5P with FlexPhase with backup capability for customers in Luxembourg and Poland.

    On April 3, 2025, Enphase Energy announced the introduction of its IQ® System Controller in France and the Netherlands, enabling backup power.

    On April 1, 2025, Enphase Energy announced that more than 2,500 SunPower customers have transitioned to Enphase monitoring since SunPower’s bankruptcy filing in August 2024.

    On March 18, 2025, Enphase Energy welcomed Brazil’s ABNT NBR 17193 fire safety standard, which outlines stringent recommendations like rapid shutdown requirements for solar installations in all buildings.

    On March 11, 2025, Enphase Energy announced production shipments of its newest electric vehicle (EV) charger, the IQ EV Charger 2, in 14 European markets. 

    On March 3, 2025, Enphase Energy announced increased deployments of its solution for expanding legacy net energy metering (NEM) solar energy systems in California as utilities streamline their approval process. 

    On Feb. 11, 2025, Enphase Energy announced the launch of an expanded IQ Battery 5P product with support for both single-phase 120/208 V and split-phase 120/240 V, for new home projects in California. 

    On Feb. 6, 2025, Enphase Energy announced that it is expanding its support for grid services programs – or virtual power plants (VPPs) – in Puerto Rico, Colorado, and Nova Scotia, Canada, powered by the IQ Battery 5P.

    SECOND QUARTER 2025 FINANCIAL OUTLOOK

    For the second quarter of 2025, Enphase Energy estimates both GAAP and non-GAAP financial results as follows:

    • Revenue to be within a range of $340.0 million to $380.0 million, which includes shipments of 160 to 180 MWh of IQ Batteries. The second quarter of 2025 financial outlook includes approximately $40.0 million of safe harbor revenue. We define safe harbor revenue as any sales made to customers who plan to install the inventory over more than one year.
    • GAAP gross margin to be within a range of 42.0% to 45.0% with net IRA benefit, including approximately two percentage points of new tariff impact.
    • Non-GAAP gross margin to be within a range of 44.0% to 47.0% with net IRA benefit and 35.0% to 38.0% excluding net IRA benefit, including approximately two percentage points of new tariff impact. Non-GAAP gross margin excludes stock-based compensation expense and acquisition related amortization.
    • Net IRA benefit to be within a range of $30.0 million to $33.0 million based on estimated shipments of 1,000,000 units of U.S. manufactured microinverters.
    • GAAP operating expenses to be within a range of $136.0 million to $140.0 million.
    • Non-GAAP operating expenses to be within a range of $78.0 million to $82.0 million, excluding $58.0 million estimated for stock-based compensation expense, acquisition related expenses and amortization, restructuring and asset impairment charges.

    For 2025, Enphase expects a GAAP tax rate of 21-23% and a non-GAAP tax rate of 15-17%, including IRA benefits.

    Follow Enphase Online

    Use of non-GAAP Financial Measures

    Enphase Energy has presented certain non-GAAP financial measures in this press release. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (GAAP). Reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure can be found in the accompanying tables to this press release. Non-GAAP financial measures presented by Enphase Energy include non-GAAP gross profit, gross margin, operating expenses, income from operations, net income, net income per share (basic and diluted), net IRA benefit, and free cash flow.

    These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same captions and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies. In addition, these non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Enphase Energy’s results of operations as determined in accordance with GAAP. As such, these non-GAAP measures should be considered as a supplement to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Enphase Energy uses these non-GAAP financial measures to analyze its operating performance and future prospects, develop internal budgets and financial goals, and to facilitate period-to-period comparisons. Enphase Energy believes that these non-GAAP financial measures reflect an additional way of viewing aspects of its operations that, when viewed with its GAAP results, provide a more complete understanding of factors and trends affecting its business.

    As presented in the “Reconciliation of Non-GAAP Financial Measures” tables below, each of the non-GAAP financial measures excludes one or more of the following items for purposes of calculating non-GAAP financial measures to facilitate an evaluation of Enphase Energy’s current operating performance and a comparison to its past operating performance:

    Stock-based compensation expense. Enphase Energy excludes stock-based compensation expense from its non-GAAP measures primarily because they are non-cash in nature. Moreover, the impact of this expense is significantly affected by Enphase Energy’s stock price at the time of an award over which management has limited to no control.

    Acquisition related expenses and amortization. This item represents expenses incurred related to Enphase Energy’s business acquisitions, which are non-recurring in nature, and amortization of acquired intangible assets, which is a non-cash expense. Acquisition related expenses and amortization of acquired intangible assets are not reflective of Enphase Energy’s ongoing financial performance.

    Restructuring and asset impairment charges. Enphase Energy excludes restructuring and asset impairment charges due to the nature of the expenses being unusual and arising outside the ordinary course of continuing operations. These costs primarily consist of fees paid for cash-based severance costs, accelerated stock-based compensation expense and asset write-downs of property and equipment and acquired intangible assets, and other contract termination costs resulting from restructuring initiatives.

    Non-cash interest expense. This item consists primarily of amortization of debt issuance costs and accretion of debt discount because these expenses do not represent a cash outflow for Enphase Energy except in the period the financing was secured and such amortization expense is not reflective of Enphase Energy’s ongoing financial performance.

    Non-GAAP income tax adjustment. This item represents the amount adjusted to Enphase Energy’s GAAP tax provision or benefit to exclude the income tax effects of GAAP adjustments such as stock-based compensation, amortization of purchased intangibles, and other non-recurring items that are not reflective of Enphase Energy ongoing financial performance.

    Non-GAAP net income per share, diluted. Enphase Energy excludes the dilutive effect of in-the-money portion of convertible senior notes as they are covered by convertible note hedge transactions that reduce potential dilution to our common stock upon conversion of the Notes due 2025, Notes due 2026, and Notes due 2028, and includes the dilutive effect of employee’s stock-based awards and the dilutive effect of warrants. Enphase Energy believes these adjustments provide useful supplemental information to the ongoing financial performance.

    Net IRA benefit. This item represents the advanced manufacturing production tax credit (AMPTC) from the IRA for manufacturing microinverters in the United States, partially offset by the incremental manufacturing cost incurred in the United States relative to manufacturing in Mexico, India, and China. The AMPTC is accounted for by Enphase Energy as an income-based government grants that reduces cost of revenues in the condensed consolidated statements of operations.

    Free cash flow. This item represents net cash flows from operating activities less purchases of property and equipment.

    Conference Call Information

    Enphase Energy will host a conference call for analysts and investors to discuss its first quarter 2025 results and second quarter 2025 business outlook today at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time). The call is open to the public by dialing (833) 634-5018. A live webcast of the conference call will also be accessible from the “Investor Relations” section of Enphase Energy’s website at https://investor.enphase.com. Following the webcast, an archived version will be available on the website for approximately one year. In addition, an audio replay of the conference call will be available by calling (877) 344-7529; replay access code 9557806, beginning approximately one hour after the call.

    Forward-Looking Statements

    This press release contains forward-looking statements, including statements related to Enphase Energy’s expectations as to its second quarter of 2025 financial outlook, including revenue, shipments of IQ Batteries by MWh, gross margin with net IRA benefit and excluding net IRA benefit, estimated shipments of U.S. manufactured microinverters, operating expenses, and annualized effective tax rate with IRA benefit; its expectations regarding the expected net IRA benefit; its expectations on the timing and introduction of new products and updates to existing products, including the IQ Battery 10C, IQ Meter Collar, and IQ Combiner 6C products in the United States, and the IQ Balcony Solar Kit in Germany and Belgium; its expectations regarding the domestic content bonus tax credit for its product offerings; and the capabilities, advantages, features, and performance of its technology and products. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Enphase Energy’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties including those risks described in more detail in its most recently filed Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and other documents on file with the SEC from time to time and available on the SEC’s website at www.sec.gov. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

    A copy of this press release can be found on the investor relations page of Enphase Energy’s website at https://investor.enphase.com.

    About Enphase Energy, Inc.

    Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 81.5 million microinverters, and approximately 4.8 million Enphase-based systems have been deployed in over 160 countries. For more information, visit https://investor.enphase.com.

    © 2025 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, IQ8, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.

    Contact:
    Zach Freedman
    Enphase Energy, Inc.
    Investor Relations
    ir@enphaseenergy.com

     
    ENPHASE ENERGY, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (In thousands, except per share data)
    (Unaudited)
       
      Three Months Ended
      March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
    Net revenues $ 356,084     $ 382,713     $ 263,339  
    Cost of revenues   187,843       184,420       147,831  
    Gross profit   168,241       198,293       115,508  
    Operating expenses:          
    Research and development   50,174       50,390       54,211  
    Sales and marketing   48,948       51,799       53,307  
    General and administrative   34,035       31,901       35,182  
    Restructuring and asset impairment charges   3,162       9,399       1,907  
    Total operating expenses   136,319       143,489       144,607  
    Income (loss) from operations   31,922       54,804       (29,099 )
    Other income, net          
    Interest income   17,032       18,417       19,709  
    Interest expense   (2,047 )     (2,252 )     (2,196 )
    Other income (expense), net   (14 )     (1,270 )     87  
    Total other income, net   14,971       14,895       17,600  
    Income before income taxes   46,893       69,699       (11,499 )
    Income tax provision   (17,163 )     (7,539 )     (4,598 )
    Net income (loss) $ 29,730     $ 62,160     $ (16,097 )
    Net income (loss) per share:          
    Basic $ 0.23     $ 0.46     $ (0.12 )
    Diluted $ 0.22     $ 0.45     $ (0.12 )
    Shares used in per share calculation:          
    Basic   131,869       133,815       135,891  
    Diluted   136,208       138,128       135,891  
                           
     
    ENPHASE ENERGY, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (In thousands)
    (Unaudited)
           
      March 31,
    2025    		   December 31,
    2024
    ASSETS      
    Current assets:      
    Cash and cash equivalents $ 350,077     $ 369,110  
    Restricted cash   65,013       95,006  
    Marketable securities   1,116,780       1,253,480  
    Accounts receivable, net   225,625       223,749  
    Inventory   144,025       165,004  
    Prepaid expenses and other assets   295,725       220,735  
    Total current assets   2,197,245       2,327,084  
    Property and equipment, net   142,219       147,514  
    Intangible assets, net   37,408       42,398  
    Goodwill   212,359       211,571  
    Other assets   211,447       205,542  
    Deferred tax assets, net   305,408       315,567  
    Total assets $ 3,106,086     $ 3,249,676  
    LIABILITIES AND STOCKHOLDERS’ EQUITY      
    Current liabilities:      
    Accounts payable $ 115,374     $ 90,032  
    Accrued liabilities   212,169       196,887  
    Deferred revenues, current   167,771       237,225  
    Warranty obligations, current   33,298       34,656  
    Debt, current   630,677       101,291  
    Total current liabilities   1,159,289       660,091  
    Long-term liabilities:      
    Deferred revenues, non-current   333,704       341,982  
    Warranty obligations, non-current   170,149       158,233  
    Other liabilities   61,032       55,265  
    Debt, non-current   571,214       1,201,089  
    Total liabilities   2,295,388       2,416,660  
    Total stockholders’ equity   810,698       833,016  
    Total liabilities and stockholders’ equity $ 3,106,086     $ 3,249,676  
                   
     
    ENPHASE ENERGY, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (In thousands)
    (Unaudited)
       
      Three Months Ended
      March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
    Cash flows from operating activities:          
    Net income (loss) $ 29,730     $ 62,160     $ (16,097 )
    Adjustments to reconcile net income (loss) to net cash provided by operating activities:          
    Depreciation and amortization   19,915       20,665       20,137  
    Net accretion of premium (discount) on marketable securities   3,512       (7,490 )     2,825  
    Provision (benefit) for doubtful accounts   62       2,206       (130 )
    Asset impairment   27       4,702       332  
    Non-cash interest expense   1,679       2,188       2,132  
    Net gain from change in fair value of debt securities   (323 )     (3,697 )     (942 )
    Stock-based compensation   55,633       51,830       60,833  
    Deferred income taxes   8,560       (30,675 )     (8,292 )
    Changes in operating assets and liabilities:          
    Accounts receivable   1,760       2,684       77,359  
    Inventory   20,979       (6,167 )     5,702  
    Prepaid expenses and other assets   (75,553 )     (16,487 )     (10,897 )
    Accounts payable, accrued and other liabilities   54,232       (27,396 )     (66,284 )
    Warranty obligations   10,558       8,657       (11,923 )
    Deferred revenues   (82,357 )     104,112       (5,554 )
    Net cash provided by operating activities   48,414       167,292       49,201  
    Cash flows from investing activities:          
    Purchases of property and equipment   (14,608 )     (8,064 )     (7,371 )
    Investment in tax equity fund   (6,904 )     —       —  
    Purchases of marketable securities   (200,826 )     (93,138 )     (472,268 )
    Maturities and sale of marketable securities   335,398       351,843       497,373  
    Net cash provided by investing activities   113,060       250,641       17,734  
    Cash flows from financing activities:          
    Settlement of Notes due 2025   (102,168 )     —       (2 )
    Repurchase of common stock   (99,964 )     (199,666 )     (41,996 )
    Payment of excise tax on net stock repurchases   —       (2,773 )     —  
    Proceeds from issuance of common stock under employee equity plans   67       4,719       1,186  
    Payment of withholding taxes related to net share settlement of equity awards   (12,110 )     (5,012 )     (60,042 )
    Net cash used in financing activities   (214,175 )     (202,732 )     (100,854 )
    Effect of exchange rate changes on cash, cash equivalents and restricted cash   3,675       (7,410 )     (1,177 )
    Net increase (decrease) in cash and cash equivalents and restricted cash   (49,026 )     207,791       (35,096 )
    Cash, cash equivalents and restricted cash—Beginning of period   464,116       256,325       288,748  
    Cash, cash equivalents and restricted cash—End of period $ 415,090     $ 464,116     $ 253,652  
                           
     
    ENPHASE ENERGY, INC.
    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
    (In thousands, except per share data and percentages)
    (Unaudited)
       
      Three Months Ended
      March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
    Gross profit (GAAP) $ 168,241     $ 198,293     $ 115,508  
    Stock-based compensation   4,239       3,678       4,182  
    Acquisition related amortization   1,580       1,784       1,891  
    Gross profit (Non-GAAP) $ 174,060     $ 203,755     $ 121,581  
               
    Gross margin (GAAP)   47.2 %     51.8 %     43.9 %
    Stock-based compensation   1.2       0.9       1.6  
    Acquisition related amortization   0.5       0.5       0.7  
    Gross margin (Non-GAAP)   48.9 %     53.2 %     46.2 %
               
    Operating expenses (GAAP) $ 136,319     $ 143,489     $ 144,607  
    Stock-based compensation(1)   (50,885 )     (47,884 )     (56,651 )
    Acquisition related expenses and amortization   (2,849 )     (2,884 )     (3,462 )
    Restructuring and asset impairment charges(1)   (3,162 )     (9,399 )     (1,907 )
    Operating expenses (Non-GAAP) $ 79,423     $ 83,322     $ 82,587  
               
    (1)Includes stock-based compensation as follows:          
    Research and development $ 21,647     $ 20,951     $ 24,550  
    Sales and marketing   16,396       15,893       18,178  
    General and administrative   12,842       11,041       13,923  
    Restructuring and asset impairment charges   509       267       —  
    Total $ 51,394     $ 48,152     $ 56,651  
               
    Income (loss) from operations (GAAP) $ 31,922     $ 54,804     $ (29,099 )
    Stock-based compensation   55,124       51,563       60,833  
    Acquisition related expenses and amortization   4,429       4,668       5,353  
    Restructuring and asset impairment charges   3,162       9,399       1,907  
    Income from operations (Non-GAAP) $ 94,637     $ 120,434     $ 38,994  
               
    Net income (loss) (GAAP) $ 29,730     $ 62,160     $ (16,097 )
    Stock-based compensation   55,124       51,563       60,833  
    Acquisition related expenses and amortization   4,429       4,668       5,353  
    Restructuring and asset impairment charges   3,162       9,399       1,907  
    Non-cash interest expense   1,678       2,188       2,132  
    Non-GAAP income tax adjustment   (4,880 )     (4,116 )     (6,172 )
    Net income (Non-GAAP) $ 89,243     $ 125,862     $ 47,956  
               
    Net income (loss) per share, basic (GAAP) $ 0.23     $ 0.46     $ (0.12 )
    Stock-based compensation   0.42       0.39       0.45  
    Acquisition related expenses and amortization   0.04       0.03       0.04  
    Restructuring and asset impairment charges   0.02       0.07       0.01  
    Non-cash interest expense   0.01       0.02       0.02  
    Non-GAAP income tax adjustment   (0.04 )     (0.03 )     (0.05 )
    Net income per share, basic (Non-GAAP) $ 0.68     $ 0.94     $ 0.35  
               
    Shares used in basic per share calculation GAAP and Non-GAAP   131,869       133,815       135,891  
               
    Net income (loss) per share, diluted (GAAP) $ 0.22     $ 0.45     $ (0.12 )
    Stock-based compensation   0.42       0.39       0.44  
    Acquisition related expenses and amortization   0.04       0.04       0.04  
    Restructuring and asset impairment charges   0.03       0.07       0.01  
    Non-cash interest expense   0.01       0.02       0.02  
    Non-GAAP income tax adjustment   (0.04 )     (0.03 )     (0.04 )
    Net income per share, diluted (Non-GAAP) $ 0.68     $ 0.94     $ 0.35  
               
    Shares used in diluted per share calculation GAAP   136,208       138,128       135,891  
    Shares used in diluted per share calculation Non-GAAP   132,133       134,053       136,730  
               
    Income-based government grants (GAAP) $ 53,631     $ 68,040     $ 18,617  
    Incremental cost for manufacturing in U.S.   (15,773 )     (16,123 )     (4,882 )
    Net IRA benefit (Non-GAAP) $ 37,858     $ 51,917     $ 13,735  
               
    Net cash provided by operating activities (GAAP) $ 48,414     $ 167,292     $ 49,201  
    Purchases of property and equipment   (14,608 )     (8,064 )     (7,371 )
    Free cash flow (Non-GAAP) $ 33,806     $ 159,228     $ 41,830  
                           

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

    The MIL Network –

  • MIL-OSI Europe: EIB supports innovative climate action in emerging markets alongside private equity firm LeapFrog Investments

    Source: European Investment Bank

    EIB

    • EIB Global commits $60 million to Climate Investment Strategy of LeapFrog Investments alongside World Bank Group’s International Finance Corporation on margins of Spring Meetings in Washington.
    • LeapFrog aims to deploy $500 million for green technologies in Africa and Asia.
    • Other partners include the World Bank Group’s International Finance Corporation, Singaporean investment firm Temasek and the Swiss Development Finance Institution

    The European Investment Bank is accelerating the use of green technologies in Africa and Asia with a $60 million pledge for private equity firm LeapFrog Investments (LeapFrog). The pledge by the EIB, financial arm of the European Union,  is for a LeapFrog Climate Investment Strategy that has also drawn support from the World Bank Group’s International Finance Corporation (IFC), Singapore headquartered global investment companyTemasek and the Swiss Development Finance Institution (SIFEM).

    LeapFrog aims to deploy $500 million under its Climate Investment Strategy to scale green tools and technologies for consumers in Africa and Asia. Millions of people are expected to have access to better and greener transport, energy, food and housing as a result of the initiative.

    EIB Group President Nadia Calviño said: “Today’s announcement is an example of public-private partnership at its best, and a strong statement on Europe’s climate leadership. At the EIB, we are staying the course and consolidating our role as The Climate Bank.”

    Consumers in South Asia, Southeast Asia and Africa account for 25% of global emissions of greenhouse gases, a figure set to rise to as much as 73% by 2030 without a green transition. Directing capital in these markets to actions that counter climate change is key to fostering long-term and sustainable economic growth.

    An initial investment under LeapFrog’s Climate Investment Strategy supports Battery Smart, India’s largest battery-as-a-service provider for two and three wheelers, providing riders with low-carbon mobility. Other sectors of interest include rooftop solar and clean cooking.

     “The world’s four billion  consumers in emerging markets constitute half of humanity – they have every right to rise but, without green tools and technologies, their total emissions will blow through the world’s carbon budget. This is also where the greatest opportunities lie — investing to support  a generational  transition for the majority of global consumers and producers. We are grateful to have the support of our longstanding partners EIB, IFC and Temasek in achieving this mission,” said Dr Andy Kuper, CEO and Founder of LeapFrog Investments.

    LeapFrog’s Climate Investment Strategy was recognised today at the World Bank Group and International Monetary Fund Spring Meetings by the heads of the EIB Group, LeapFrog and by IFC Vice-President of Industries Mohammed Gouled and Temasek CEO Dilhan Pillay.

    Background information

    About the European Investment Bank Group:

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. 

    All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.   

    EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. We aim to support €100 billion of investment by the end of 2027 – around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through our offices across the world. High-quality, up-to-date photos of our headquarters for media use are available here. 

    About LeapFrog Investments

    LeapFrog invests in healthcare, financial services and climate solutions businesses in high-growth global markets. Its companies deliver distinctive impact and robust returns, growing revenues on average 23% a year. LeapFrog companies now reach 537 million people with essential services in 37 countries. The firm has raised billions of dollars from global institutional investors, including a $500m commitment by Temasek to LeapFrog and its growth equity funds. LeapFrog has twice been ranked by Fortune as one of the top Companies to Change the World, alongside Apple and Novartis, and was named inaugural Pioneer in Impact by the FT and IFC at the Transformational Business Awards.

    For more information, go to: www.leapfroginvest.com.

    EIB supports innovative climate action in emerging markets alongside private equity firm LeapFrog Investments
    EIB supports innovative climate action in emerging markets alongside private equity firm LeapFrog Investments
    ©EIB
    Download original

    MIL OSI Europe News –

  • MIL-OSI: Gradle, Inc. Joins Scala Center Advisory Board to Improve Scala Developer Experience

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, April 22, 2025 (GLOBE NEWSWIRE) — Gradle, Inc., the company behind Gradle Build Tool—one of the most used build systems in the world—and Develocity®, the leading developer toolchain observability platform, today announced it has joined the Scala Center Advisory Board. As a member, Gradle will be an active participant in discussions about improving the Scala ecosystem including how to best equip Scala developers with the right tools to enhance their experience and productivity.

    Scala is among the top 20 programming languages in the world and is used among hundreds of leading technology companies for major back-end systems across industries such as data science, machine learning, financial services and more. The language has a sophisticated type system and advanced features along with greater compile-time safety guarantees which can contribute to longer build times. The most popular build system used to build Scala applications—called sbt—would also benefit from more advanced observability and actionable build insights for developers. Regardless of these challenges, the Scala ecosystem has continued to grow steadily together with the increasing need for enterprise productivity solutions for development teams. Gradle’s decision to join the Scala Center Advisory Board is a testament to its commitment to change this and address critical pain points within the Scala community.

    “Multi-build system support is core to our mission and vision. We imagine a world where tools and strategies that improve the developer experience are available for all software development ecosystems, no matter the build system or framework,” said Hans Dockter, Gradle, Inc. co-founder and CEO. “Scala developers deserve to experience the same level of productivity support as the rest of the JVM ecosystem. By joining the Scala Center Advisory Board, we will be able to help assess critical pain points and bring more tools and solutions to this community.”

    Gradle’s support for the Scala community began in 2023 when the company acquired Triplequote, a Swiss-based software development technology provider, which allowed the company to gain expertise in Scala productivity tooling. Since then, Gradle announced Develocity support for the sbt build system, bringing the benefits of its developer productivity platform to the Scala and sbt user communities.

    “We’re thrilled to have the opportunity to collaborate with Gradle on improving the Scala developer experience,” said Professor Martin Odersky, creator of the Scala programming language and member of Gradle’s Technical Advisory Board. “We value their shared commitment to bringing advanced productivity tooling like Develocity to the Scala community to enhance the daily lives of developers and drive innovation.”

    As the leading technology-enablement platform for the practice of Developer Productivity Engineering (DPE), Develocity improves developer productivity by removing critical software development process bottlenecks like slow builds, inefficient troubleshooting, flaky tests, and a general lack of build and test process observability. Scala and sbt users can leverage Develocity’s core features to speed up feedback cycles and measure key performance metrics. For example, Build Scan® provides Scala developers with observability into each build and test cycle above console logs and Jenkins CI reports for the first time. Additionally, Build Cache for sbt has proven to accelerate Scala builds by up to 70%.

    In addition to sbt, Develocity supports Apache Maven, Android, Bazel, npm, Python, and Gradle Build Tool. For more information on Develocity for sbt, visit the Gradle website.

    About Gradle
    Gradle, Inc. is the award-winning developer productivity company behind Gradle Build Tool—one of the most used build systems in the world—and Develocity®, the leading developer toolchain observability platform. Develocity provides comprehensive observability, build and test acceleration technologies, and rapid troubleshooting features for Apache Maven, Android, Bazel, sbt, npm, Python, and Gradle Build Tool. Top companies like Netflix, LinkedIn, ASML, Airbnb, Microsoft, Nasdaq, and SAP use Develocity to deliver critical software faster at scale.

    Contact
    LaunchSquad for Gradle, gradle@launchsquad.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1f1fc211-ab66-4213-917d-c0eb5dc859cf

    The MIL Network –

  • MIL-OSI Global: Ukraine war: path to peace looks increasingly narrow as Kyiv’s western backers scramble to focus on their own interests

    Source: The Conversation – UK – By Stefan Wolff, Professor of International Security, University of Birmingham

    After more than three years of war, the prospects of peace for Ukraine remain slim. There is no obvious credible pathway even to a ceasefire, given Russia’s refusal to extend a brief and shaky truce over Easter. This, despite the US, UK and Ukraine all signalling their support for this idea.

    And even if the considerable hurdles impeding a ceasefire deal could be overcome, a more fundamental problem would remain. None of the key players in the conflict appear to have a plan for an agreement that is likely to be acceptable to Kyiv and Moscow.

    Previous plans, such as a joint proposal by China and Brazil in May last year which was supported by a Chinese-led “Friends of Peace” group were primarily focused on a ceasefire as a stepping stone to negotiations about an actual peace agreement.

    This and other plans were all light on detail of what a peace deal between Russia and Ukraine would entail but were nonetheless roundly rejected by Ukraine and its western allies as favouring Russia. Given that a ceasefire would simply freeze the front lines and very likely make them permanent with or without a subsequent peace agreement, this was not an unreasonable position.

    What Ukraine proposed instead, however – and what its western allies backed, at least rhetorically – was hardly more viable. The peace plan proposed by Ukrainian president Volodymyr Zelensky in December 2022 was already on life support at the time of the first “Summit on Peace in Ukraine” in Switzerland in June 2024.

    Only 84 of the 100 delegations attending the summit (out of 160 invited) supported a watered-down version of Zelensky’s plan in their final communique – and there was no agreement on a follow-up meeting. Ukraine’s peace plan was clearly dead in the water.

    Ukraine then proposed an “internal resilience plan”. With its its focus on ensuring that the country can survive a long war of attrition with Russia, this is anything but a peace plan.

    But it serves Kyiv’s needs to avoid an unconditional surrender to Moscow. This is also high on the agenda for Ukraine’s European allies who remain committed to supporting Kyiv.

    For the emerging European coalition of the willing, it is important to keep Ukraine in the fight while they build up their own defences. They face the possibility of a new international order in which the world might well be carved up into US, Russian and Chinese spheres of influence.

    Where the White House stands

    Such a carve-up is at the heart of efforts by the US president, Donald Trump. Trump is trying to secure a ceasefire between Russia and Ukraine as well as a deal that would give the US privileged access to Ukrainian resources.

    Having initially fallen apart during an extraordinarily acrimonious press conference in the White House on February 28, this deal now appears to be relatively close to conclusion.

    The ceasefire deal Trump appears to envisage would divide Ukraine itself into spheres of influence according to a plan recently suggested by Trump’s special envoy for Ukraine, Keith Kellogg. Yet even such a pro-Moscow arrangement that would offer Putin control of 20% of Ukraine continues to elude negotiators.

    At present, the Russian president has few incentives to settle for less than his maximum demands and stop a war that he thinks he is still able to win on the battlefield – particularly given Trump’s unwillingness to exert any meaningful pressure on Russia.

    At times, it now appears more likely that Trump will simply abandon his efforts to end the fighting in Ukraine. From a Russian perspective, this would be preferable to a ceasefire that freezes the conflict but doesn’t lead to a peace deal reflecting Moscow’s demands.

    The likely calculation in the Kremlin is that even if the 2026 mid-term elections in the US water down Trump’s power, that still leaves two more years to conquer more Ukrainian territory. Should Washington then make another push for a ceasefire, Moscow could claim any additional conquests as a price for Ukraine to pay for a settlement.

    Even if Trump does not walk away from the negotiations now, and even if his special envoy Steve Witkoff ultimately manages to cobble together a deal, this will more likely look like a ceasefire than like a peace agreement.

    Gulf remains between Russia and Ukraine

    The simple reason for this is that Russia’s and Ukraine’s positions on an acceptable outcome have not shifted. Putin remains committed to the full annexation of four complete Ukrainian regions as well as retaining Crimea. Zelensky has repeatedly ruled out territorial concessions and is broadly supported by Ukrainians in this stance.

    For the west, the reality that a peace agreement is close to impossible on terms satisfying all sides has become a self-fulfilling prophecy. To the extent that there are any joint efforts by Ukraine, the US and the European coalition of the willing, they are completely centred on a workable ceasefire.

    At a meeting of foreign ministers and high-level officials in Paris on April 17, discussions were focused on making such a ceasefire sustainable.

    While details of how this can be achieved remain unclear, the fact that there now appears to be a more inclusive negotiations track signals progress, at least on the process of negotiations. Whether this will lead to an actual breakthrough towards a sustainable ceasefire, however, will depend on their substance and whether Ukraine and Russia can ultimately agree on terms about disengagement of forces, monitoring, and guarantees and enforcement mechanisms.

    This is an already incredibly high bar, and the bar for a subsequent peace agreement is higher yet. In the current stage of Russia’s war of aggression against Ukraine, a ceasefire is clearly a precondition for a peace agreement. But the sole focus on the former will not make the latter any more likely.

    What’s more, given Russia’s track record of reneging on the Minsk ceasefire agreements of September 2014 and February 2015, investing everything in a ceasefire deal might turn out not just a self-fulfilling but a self-defeating prophecy for Ukraine and its supporters.

    Stefan Wolff is a past recipient of grant funding from the Natural Environment Research Council of the UK, the United States Institute of Peace, the Economic and Social Research Council of the UK, the British Academy, the NATO Science for Peace Programme, the EU Framework Programmes 6 and 7 and Horizon 2020, as well as the EU’s Jean Monnet Programme. He is a Trustee and Honorary Treasurer of the Political Studies Association of the UK and a Senior Research Fellow at the Foreign Policy Centre in London.

    Tetyana Malyarenko 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. Ukraine war: path to peace looks increasingly narrow as Kyiv’s western backers scramble to focus on their own interests – https://theconversation.com/ukraine-war-path-to-peace-looks-increasingly-narrow-as-kyivs-western-backers-scramble-to-focus-on-their-own-interests-254864

    MIL OSI – Global Reports –

  • MIL-OSI Asia-Pac: India Stakes Claim to the Top Leadership position at International Telecom Union (ITU)

    Source: Government of India

    India Stakes Claim to the Top Leadership position at International Telecom Union (ITU)

    Ms. M. Revathi Nominated as Indian Candidate for the post of Director at ITU’s Radiocommunication Bureau

    Posted On: 22 APR 2025 12:13PM by PIB Delhi

    India has nominated Ms. M. Revathi, Joint Wireless Advisor at the Department of Telecommunications (DoT), as its candidate for Director of the Radiocommunication Bureau at the International Telecommunication Union (ITU). This marks India’s most significant bid in decades to influence global radio spectrum governance.

    A specialized UN agency based in Geneva, the ITU ensures that the world’s communication systems work together, safely, securely, and fairly. The Radiocommunication Bureau of the ITU regulates the global radio frequencies and satellite orbits—crucial for 5G, 6G, space broadband, disaster response, managing these finite resources. As Director, Ms. Revathi would play a central role in shaping next-gen radiocommunication standards and ensuring equitable spectrum access.

    Her candidacy reflects India’s vision of Vasudhaiva Kutumbakam and its push for inclusive digital growth, particularly benefiting developing nations. If elected, she would become the first woman and the first representative from ITU Regions E (Asia/Australasia) and D (Africa) to lead the Bureau—representing more than half the world’s population.

    With nearly 30 years of experience in spectrum and satellite orbit management, Ms. Revathi is widely recognized for pioneering regulatory innovations. She currently serves on the ITU’s Radio Regulations Board, advocating global equity in spectrum use.

    India’s leadership in global telecom was also underscored by its successful hosting of the World Telecommunication Standardization Assembly (WTSA) in Oct 2024 in New Delhi, attended by the highest ever 3,700 delegates from 150+ countries. The adoption of eight landmark Resolutions at WTSA 2024 highlights India’s growing role in shaping the digital future.

    About ITU:

    ITU is the United Nations specialized agency for digital technologies (ICTs). ​The Organization is made up of a membership of 194​ Member States and more than 1000 companies, universities and international and regional organizations. Headquartered in Geneva, Switzerland, and with regional offices on every continent, ITU is the oldest agency in the UN family – connecting the world since the dawn of the telegraph in 1865.

    ITU coordinates the global telecom systems through its three sectors: ITU-T (Standardization), ITU-D (Development), and ITU-R (Radiocommunication). The Radiocommunication Bureau manages the global radio-frequency spectrum and satellite orbit resources, ensuring countries and technologies (like 5G, aviation, space missions, etc.) don’t interfere with one another. This coordination is crucial for everything from mobile networks to GPS, weather satellites, and broadcasting.

     

    ******

    Samrat : pibcomm[at]gmail[dot]com

    (Release ID: 2123374) Visitor Counter : 124

    MIL OSI Asia Pacific News –

  • MIL-OSI: Call for Nominations: 2025 Global Citizen Award

    Source: GlobeNewswire (MIL-OSI)

    LONDON, April 22, 2025 (GLOBE NEWSWIRE) — Leading international residence and citizenship advisory firm Henley & Partners, in partnership with Andan Foundation, a Swiss non-profit humanitarian organization, is pleased to announce the call for nominations for the 2025 Global Citizen Award.

    Created 11 years ago in 2014, the Global Citizen Award is a tribute that honors remarkable individuals working to advance any one of the global challenges affecting humanity today – challenges that transcend national boundaries and cannot be resolved by any one country acting alone.

    The 2025 laureate will be selected by a distinguished, independent committee and honored at the Global Citizen Award ceremony. This is a gala evening event which forms part of the annual Henley & Partners Global Citizenship Conference which is taking place this year at The Dorchester, London from 2–4 November 2025.

    Henley & Partners Chairman and Founder of the Andan Foundation, Dr Christian H. Kaelin, says the awardee’s work needs to demonstrate a positive impact on the lives of vulnerable social groups, particularly with a connection to migration-related issues. “The Global Citizen Award is open worldwide to those working in a field with a direct link to the issues they are looking to affect. The committee is looking for remarkable and inspirational individuals who demonstrate vision, courage, and innovation in driving global change, and whose actions and outlook contribute to a more just, peaceful, connected, and tolerant world.”

    The selection process is based on a majority decision of the Award Committee. The award itself consists of a bespoke sculptural medal designed by leading Italian artist Antonio Nocera, an award certificate signed by the Chairman of the Global Citizen Award Committee, and a monetary prize of USD 20,000, which goes towards supporting the awardee’s humanitarian efforts. In addition, Henley & Partners commits to working closely with the awardee for a period of one year, raising awareness of their work and supporting the selected project through the firm’s network of more than 60 offices worldwide.

    Since its inception, the Global Citizen Award has honored many remarkable individuals, including German entrepreneur Harald Höppner, who set up the refugee humanitarian aid project Sea Watch, Dr. Imtiaz Sooliman, Founder of the Gift of the Givers Foundation, Africa’s largest disaster relief organization and Monique Morrow, Co-Founder of The Humanized Internet, a digital identity project that aims to bring hope to the estimated 1.1 billion individuals in the world who cannot prove their legal identity.

    Diep Vuong, Co-Founder and President of the Pacific Links Foundation, was awarded for her work in Southeast Asia campaigning for the rights of those enslaved by human trafficking, while Prof. Dr. Padraig O’Malley received his Global Citizen Award in recognition of his work on conflict resolution and reconciliation in Northern Ireland, South Africa, and Iraq. Zannah Bukar Mustapha was recognized for the psychological, educational, spiritual and other developmental support provided to the children and widows affected by the insurgency in north-eastern Nigeria, and last year, Mohamed Nasheed, former President of the Maldives and the current Secretary-General of the Climate Vulnerable Forum, was acknowledged for his pioneering work as a human rights activist and advocate for climate action.

    Reflecting on the award’s legacy and impact, Dr. Kaelin explains that the ideals of global citizenship have always been central to Henley & Partners. Through its collaboration with the Andan Foundation, the firm extends vital support to individuals displaced by conflict, war, and climate-related crises. “Each of our Global Citizen Award recipients has moved us with their courage to tackle challenges many consider overwhelming,” he says. “Today’s global issues go far beyond individual communities or nations. More than ever, it’s essential to support those who are actively creating meaningful change in the lives of vulnerable communities worldwide.”

    Nominations close on Tuesday, 1 July 2025. You can submit your nomination online here or send it to gca@henleyglobal.com.

    Media Contact

    For further information, please contact:

    Sarah Nicklin
    Group Head of Public Relations
    sarah.nicklin@henleyglobal.com
    Mobile: +27 72 464 8965

    The MIL Network –

  • MIL-OSI: 22/2025・Trifork Group: Weekly report on share buyback

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 22 / 2025
    Schindellegi, Switzerland – 21 April 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. The buyback program will not be active from 9 to 15 April 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:

    Date      Number of shares        Average purchase price (DKK)        Transaction value (DKK)
    Total beginning 57,209 85.23 4,876,001
    14 April 2025     Pause
    15 April 2025     Pause
    16 April 2025 2,700 82.90 223,830
    17 April 2025     Market closed
    18 April 2025     Market closed
    Accumulated 59,909 85.13 5,099,831

    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 59,909 at a total amount of DKK 5,099,831. On 25 March 2025, 1,352 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 294,943 treasury shares, corresponding to 1.5%. The total number of registered shares in Trifork is 19,744,899. Adjusted for treasury shares, the number of outstanding shares is 19,449,956.

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

    About Trifork
    Trifork is a pioneering global technology partner, empowering enterprise and public sector customers with innovative solutions. With 1,229 professionals across 73 business units in 16 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Labs, the Group’s R&D hub, drives innovation by investing in and developing synergistic and high-potential technology companies. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

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    The MIL Network –