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Category: Trade

  • MIL-OSI Global: Cheaper food or a compromise on standards? Why the UK’s trade deal with the US is sounding alarm bells

    Source: The Conversation – UK – By Manoj Dora, Professor in Sustainable Production and Consumption, Anglia Ruskin University

    I Wei Huang/Shutterstock

    British farmers and food safety campaigners have been sounding the alarm over the recent deal struck between the UK and US. The agreement offers unprecedented access to US agricultural exports such as beef and ethanol into the UK market.

    While some hailed this as a breakthrough after previous talks stagnated under Joe Biden’s administration, critics argue it could undercut domestic producers, introduce lower standards for food and even compromise public health. With the cost of living remaining high, cheaper US imports may look appealing to British consumers. But many fear the products may come at a longer-term cost.

    The UK government has insisted it will not compromise on standards. Hormone-treated beef and chlorine-washed chicken remain banned. But critics are sceptical. At the White House, US trade officials suggested food rules should be based on science, hinting at renewed pressure to permit products currently excluded by UK law.

    But public opinion in the UK strongly supports high food standards. Surveys show most UK consumers reject hormone-fed beef and chlorinated chicken, valuing animal welfare and food safety. Given this, any shift toward US-style practices could trigger a backlash.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    The deal’s language – promising to “enhance agricultural market access” – raises concerns that this may be only the first step. Food safety advocates fear a slow erosion of standards under commercial pressure.

    Under the terms of the deal, the UK will allow in 13,000 tonnes of US beef tariff-free — a huge change from the 1,000-tonne cap (with a 20% tariff) previously in place. In exchange, the US will grant a matching quota for UK beef.

    The National Farmers’ Union (NFU) welcomed improved US market access. But domestically, many farmers feel exposed.

    They worry that cheap US beef, even if hormone-free, will undercut UK cattle raised under stricter welfare and environmental rules. Feedlot beef from the American Midwest is typically cheaper, prompting fears of price pressure.

    The NFU says this could be a “disaster” for British farming. Supermarkets including Tesco and Sainsbury’s say they will continue sourcing 100% British beef, but farmers fear US meat could enter the wholesale and catering sectors.

    There’s also concern about ethanol – a biofuel typically sourced from crops such as corn or wheat and used primarily as a petrol additive to reduce greenhouse gas emissions. The UK has eliminated a 19% tariff and opened a quota of 1.4 billion litres of US corn ethanol.

    But this threatens domestic bioethanol plants, which purchase millions of tonnes of British wheat each year for ethanol production. It plays a crucial role in supporting UK arable farming and rural economies.

    The NFU has warned that this could destabilise farm incomes, reduce local feed supplies and endanger the production of CO², which is used widely in food packaging, refrigeration and the carbonation of drinks across the UK industry. The NFU said the deal overlooked the complex role these plants play in the UK’s food system.

    UK consumers have been feeling the effects of rising food prices.
    Steve Travelguide/Shutterstock

    But cheaper imports could ease grocery bills in the UK, a welcome prospect given food price inflation peaked at more than 19% in 2023. Cheaper beef might help households increase their protein intake. For lower-income families, for example, small savings on staples could really improve nutrition.

    However, not all cheap calories are healthy. Britons are already encouraged to eat less red meat on health grounds. Increased access to cheaper beef could nudge intakes beyond recommended levels.

    Restaurateur Henry Dimbleby, the UK government’s former food strategy lead, has argued that undermining domestic standards for short-term savings risks health and environmental setbacks.

    Not just any commodity

    Food safety is another issue. While the government says all imports will meet UK standards, future trade negotiations could challenge that. Country-of-origin labelling and enforcement will be essential for consumer confidence.

    There’s also the risk of more ultra-processed food entering the UK. The deal may increase imports of US cereals, drinks and snack foods. While not inherently unsafe, many health advocates worry about worsening rates of obesity and diabetes if heavily processed products become cheaper and more common in the UK.

    Trade can bring benefits — but food isn’t just another commodity. It intersects with health, environment and rural life. The NFU warns that Britain’s high standards shouldn’t be quietly traded away under pressure from US agribusiness.

    The UK government claims it has preserved food protections while expanding trade. What will be key is whether consumers see real savings, as well as whether supermarkets stick to British meat. If not, it remains to be seen whether UK farmers can compete or if they will be squeezed out.

    Crucially, UK regulators must hold the line if the US pushes harder. A prosperous deal should not just mean more trade — but safer, healthier and fairer food for all.

    Manoj Dora 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. Cheaper food or a compromise on standards? Why the UK’s trade deal with the US is sounding alarm bells – https://theconversation.com/cheaper-food-or-a-compromise-on-standards-why-the-uks-trade-deal-with-the-us-is-sounding-alarm-bells-257755

    MIL OSI – Global Reports –

  • MIL-OSI Australia: Visit to France to advance Australia’s trade interests

    Source: Australian Attorney General’s Agencies

    This week, I will travel to France to lead Australia’s delegation to the OECD Ministerial Council Meeting and meet with counterparts to advance Australia’s trade interests and advocate for the rules-based trading system.

    The OECD Ministerial Council Meeting is an opportunity to discuss cooperation on open markets, the digital economy, and the building of sustainable and inclusive economic growth.

    On the sidelines of this meeting, Australia will host the annual informal gathering of World Trade Organization (WTO) Ministers. The meeting will provide an opportunity to build momentum for WTO reform and reinforce the importance of an open, rules-based global trading system.

    Australia will also host a meeting of Cairns Group Ministers to discuss how we can advance agricultural reform that brings us closer to a level playing field in agricultural trade.

    I look forward to meeting with a number of my counterparts, including EU Commissioner for Trade and Economic Security Maroš Šefčovič.

    The EU is the second-largest economy in the world, with a GDP of approximately AUD31 trillion in 2025. Concluding a free trade agreement with the EU is a priority, but we have been clear that a deal needs to deliver meaningful market access outcomes, including for Australian agriculture.

    MIL OSI News –

  • MIL-OSI: Chairman and CEO Stockholder Letter: Unanimous Supreme Court Ruling Builds the Case for Pre-Escalation and Widespread BolaWrap Adoption

    Source: GlobeNewswire (MIL-OSI)

    Barnes v. Felix expands window of liability to include the totality of circumstances—renewing focus on officer’s actions during the pre-escalation period.

    MIAMI, June 02, 2025 (GLOBE NEWSWIRE) — Wrap Technologies, Inc, (NASDAQ: WRAP) (“Wrap” or, the “Company”), a global leader in innovative public safety technologies and non-lethal tools, today issues a letter to stockholders from Founder and CEO, Scot Cohen.

    Chairman and CEO Letter to Stockholders

    Fellow Stockholders,

    Law-enforcement tools, technologies, and tactics are under constant scrutiny—not just for their effectiveness, but for how they’re viewed by the public we serve. As public perception and the legal landscape evolves, law enforcement officers and leaders are challenged to keep up, balancing their constitutional oath to protect and the reality of operational readiness against growing public expectations. As a result, law enforcement landscape of liability is evolving rapidly, shaped by new legal rulings, heightened public expectations, and new technologies.

    Wrap’s BolaWrap was designed to fill the critical gap between verbal commands and use-of-force options (e.g. guns, tasers, pepper spray, baton)—a space where too many incidents often escalate quickly. After hundreds of conversations with law enforcement leaders and thousands of hours of body worn camera reviews, we believe one thing is clear: in agencies that have fully integrated the BolaWrap 150 with proper training and policy, it has become the most-used tool on the belt. We believe it reliably and predictably shines and excels where liability is highest and safer alternatives are most needed.

    Supreme Court Ruling: The Case for Pre-Escalation

    The recent Supreme Court decision in Barnes v. Felix will likely have a seismic shift in how use-of-force incidents will be evaluated under federal civil rights law moving forward, which has the potential to change the way officers approach a scene. By expanding the analysis and calculus of the courts to include a new “totality of the circumstances” test, the decision broadens the scope of officer accountability beyond just the moment force is applied.

    This shift affirms what Wrap has believed since day one: that the best way to improve public safety, reduce liability, and drive better outcomes is to prevent escalation before it begins.

    In this new legal landscape, officers may be found liable not for how they used force, but for their actions in the pre-escalation period. Departments that lack pre-escalation tools, training, or tactics may face increased litigation risk, consent decrees, and community backlash. This may be especially true in cases where force is used against individuals experiencing mental or behavioral health crises. In its opinion, the Supreme Court acknowledged the growing legal and societal expectation that officers must exhaust de-escalation tactics before resorting to potentially lethal force. This ruling doesn’t merely challenge historical doctrine—it potentially redefines it.

    Aligning BolaWrap in a Post Barnes World

    We believe BolaWrap is uniquely positioned to meet this moment because we are one of the only non-lethal, non-pain-based-compliance device that can be rapidly deployed at the earliest stages of subject non-compliance —defining a new standard in “Pre-Escalation” policing. We believe the BolaWrap 150 offers officers a safer, more consistent, and constitutionally sound primary plan, especially as courts now evaluate individual officer liability based on the totality of circumstances.

    Building upon our product differentiation, we’ve filed federal trademark applications for two key public safety concepts: “Pre-Escalation” and the “WrapWindow.”

    • Pre-Escalation represents a newly defined phase in the use-of-force continuum—marking the period of time and opportunity for officers to act before a subject can escalate the event to greater conflict and risk.
    • The WrapWindow exists within the Pre-Escalation Period and defines a narrow but crucial time frame where an officer has the legal constitutional authority to place a subject into handcuffs and when verbal commands and presence are not effective. It’s in this WrapWindow of pre-escalation opportunity that we believe our flagship device, the BolaWrap 150, excels and has the opportunity to deliver a non-pain-based intervention at the most effective time with the least amount of risk to the officer or subject.

    While the BolaWrap™ 150 can be successfully deployed during other phases of a critical incident, included in conjunction with backup and lethal cover, its most effective use case is within the WrapWindow of the Pre-Escalation Period.

    These core principles form the foundation for the next generation of policing—defining and setting a new standard that aligns with the Supreme Court’s decision and the goal of law enforcement today. We intend to lay a roadmap of tools, technology, and tactical training within a public safety ecosystem to adopt and operationalize “Pre-Escalation” as the new standard in use-of-force decision-making.

    Ready for Widespread Adoption

    We are ready, with people and programs to meet the demand and accelerate our growth both domestically and abroad. Make no mistake, Wrap is entering a defining era. Defining “Pre-Escalation” and the “WrapWindow,” paired with our new ecosystem of solutions—WrapPlus, WrapTactics training, and WrapReady—we are positioned to scale. Delivering and defining exactly what today’s law enforcement environment demands: proactive, adaptive, and predictable tools. By aligning with the evolving legal liability landscape and expanding access through flexible pricing and agile deployment, we’re not just adapting to the future—we’re leading it. Existing BolaWrap programs will have priority access to this enhanced level of support which we believe will drive deployments to solidify its place as the most actively utilized tool in public safety.

    To our employees, partners, investors, and the officers who serve with courage and integrity: thank you for being part of the fastest-growing movement in public safety.

    Sincerely,

    Scot Cohen
    Founder, Chairman and CEO, WRAP Technologies, Inc.

    About Wrap Technologies, Inc.

    Wrap Technologies, Inc. (Nasdaq: WRAP) is a global leader in public safety solutions, bringing together cutting-edge technology with exceptional people to address the complex, modern day challenges facing public safety organizations.

    Wrap’s BolaWrap® solution is a safer way to gain compliance—without pain.

    This innovative, patented device deploys light, sound, and a Kevlar® tether to safely restrain individuals from a distance, giving officers critical time and space to manage non-compliant situations before resorting to higher-force options. The BolaWrap 150 does not shoot, strike, shock, or incapacitate—instead, it helps officers operate lower on the force continuum, reducing the risk of injury to both officers and subjects. Used by over 1,000 agencies across the U.S. and in 60 countries, BolaWrap® is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST), reinforcing Wrap’s commitment to public safety through cutting-edge technology and expert training.

    Wrap Reality™ VR is a fully immersive training simulator to enhance decision-making under pressure.

    As a comprehensive public safety training platform, it provides first responders with realistic, interactive scenarios that reflect the evolving challenges of modern law enforcement. By offering a growing library of real-world situations, Wrap Reality™ equips officers with the skills and confidence to navigate high stakes encounters effectively, leading to safer outcomes for both responders and the communities they serve.

    Wrap Intrensic is an advanced body-worn camera and evidence management system built for efficiency.

    Designed for efficiency, security, and transparency to meet the rigorous demands of modern law enforcement, Intrensic seamlessly captures, stores, and manages digital evidence, ensuring integrity and full chain-of-custody compliance. With automated workflows, secure cloud storage, and intuitive case management tools, it streamlines operations, reduces administrative burden, and enhances courtroom credibility.

    Trademark Information

    Wrap, the Wrap logo, BolaWrap®, Wrap Reality™ and Wrap Training Academy are trademarks of Wrap Technologies, Inc., some of which are registered in the U.S. and abroad. All other trade names used herein are either trademarks or registered trademarks of the respective holders.

    Cautionary Note on Forward-Looking Statements

    Safe Harbor Statement This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “anticipate,” “should”, “believe”, “target”, “project”, “goals”, “estimate”, “potential”, “predict”, “may”, “will”, “could”, “intend”, and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. The Company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the expected benefits of the acquisition of W1 Global, LLC, the Company’s ability to maintain compliance with the Nasdaq Capital Market’s listing standards; the Company’s ability to successfully implement training programs for the use of its products; the Company’s ability to manufacture and produce products for its customers; the Company’s ability to develop sales for its products; the market acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company’s product solutions; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties outside of the United States; the ability to obtain patents and defend intellectual property against competitors; the impact of competitive products and solutions; and the Company’s ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company’s most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company 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.

    Investor Relations Contact:
    (800) 583-2652
    ir@wrap.com

    The MIL Network –

  • MIL-OSI: Oxylabs Unveils First-of-its-kind YouTube Datasets to Power Responsible AI

    Source: GlobeNewswire (MIL-OSI)

    The datasets fast-track video data from creator consent to AI-readiness

    VILNIUS, Lithuania, June 2, 2025 – Oxylabs, a leading web intelligence platform and proxy provider, introduces industry-first YouTube datasets composed entirely of consent-based data. All of the millions of original videos in the datasets have the explicit consent of the creators to be used for AI training, allowing to bridge the gap between creators and innovators.

    “In the ecosystem aiming to find a fair balance between respecting copyright and facilitating innovation, YouTube streamlining consent giving for AI training and providing creators with flexibility is an important step forward. Many channel owners have already opted in for their videos to be used in developing the next generation of AI tools. This enables us to create and provide high-quality, structured video datasets. Meanwhile, AI developers have no trouble verifying the data’s legitimate origin,” said Julius Černiauskas, CEO at Oxylabs.

    All datasets offered by Oxylabs include videos, transcripts, and rich metadata. While such data has many potential use cases, Oxylabs refined and prepared it specifically for AI training, which is the use that the content creators have knowingly agreed to.

    Large volumes of high-quality video data are fundamental for developing multimodal AI, capable of seamlessly handling text, audio, and visual data when performing tasks or generating different types of content. Acquiring such data in a convenient way that establishes a transparent link between creators and AI companies is a challenge the industry is still trying to solve. Structured, AI-ready datasets from YouTube are now a part of this developing improved model for training AI on public data.

    Importantly, consent-based datasets also allow AI companies and creators to be on the same page regarding fair AI development. This development has been riddled with still unanswered questions about making copyrighted material fuel rather than stall innovation.

    “These datasets offer a breath of fresh air to a tense ecosystem in dire need of facilitating systematic cooperation between creators and AI companies based on mutual agreement. The next wave of tools that will shake the market can now be built on data that all can agree is right for AI training. Hopefully, this also marks a better, more sustainable way forward,” concluded Černiauskas.

    The release of ethically sourced YouTube datasets continues Oxylabs’ longtime mission to establish and promote ethical industry practices, previously marked by co-founding the Ethical Web Data Collection Initiative (EWDCI) and introducing an industry-first transparent tier framework for proxy sourcing.

    To learn more about creator-consent-based YouTube video datasets for AI training, visit the official website now.

    About Oxylabs

    Established in 2015, Oxylabs is a web intelligence platform and premium proxy provider, enabling companies of all sizes to utilise the power of big data. Constant innovation, an extensive patent portfolio, and a focus on ethics have allowed Oxylabs to become a global leader in the web intelligence collection industry and forge close ties with dozens of Fortune Global 500 companies. Oxylabs was named Europe’s fastest-growing web intelligence acquisition company in the Financial Times FT 1000 list for several consecutive years. For more information, please visit: https://oxylabs.io/

    Media Contacts

    Vytautas Kirjazovas
    Oxylabs.io
    Tel: +370 655 34419
    Email: press@oxylabs.io

    The MIL Network –

  • MIL-OSI: CERo Therapeutics Holdings, Inc. Announces Continued Enhancement of Intellectual Property Portfolio with Two Granted U.S. Patents and European Patent Application Allowance Regarding Company’s Lead Compound CER-1236

    Source: GlobeNewswire (MIL-OSI)

    Results in 18 Issued Patents and Allowed Patent Applications Internationally with Nine Total Patent Families

    SOUTH SAN FRANSCISCO, Calif., June 02, 2025 (GLOBE NEWSWIRE) — CERo Therapeutics Holdings, Inc., (Nasdaq: CERO) (“CERo” or the “Company”) an innovative immunotherapy company seeking to advance the next generation of  engineered T cell therapeutics that deploy phagocytic (i.e., target-cell eating) mechanisms alongside the array of built-in target cell destroying  mechanisms used by T cells, announces two previously announced U.S. patent applications have been granted by the U.S. Patent and Trademark Office (USPTO), and one European patent application has been allowed by  the European Patent Office, all of which significantly expand the Company’s intellectual property portfolio.

    The USPTO granted U.S. Patent No. 12,291,557, titled, “CHIMERIC TIM4 RECEPTORS AND USES THEREOF” on May 6, 2025.  The granted claims cover certain design aspects of CER-1236, the Company’s lead compound.  This patent provides composition of matter protection for a chimeric TIM4 receptor comprising a TIM4 binding domain and canonical T cell signaling domains.

    Additionally, the European Patent Office has allowed European Patent Application No. 1882166.7 titled, “CHIMERIC ENGULFMENT RECEPTOR MOLECULES AND METHODS OF USE”  on May 16, 2025.  The allowed claims encompass a chimeric engulfment receptor comprising a TIM4 binding domain and TLR2 signaling domain. The allowance of this European patent application expands protection of additional design aspects of CER-1236, which have already been granted in the U.S., Japan, and China.   

    Finally, the USPTO granted U.S. Patent No. 12,303,551, titled, “CELLULAR IMMUNOTHERAPY COMPOSITIONS AND USES THEREOF,” on May 20, 2025. This patent provides coverage for combination cellular immunotherapy compositions  and methods of use for CER-1236. The patent covers combination of a chimeric engulfment receptor CD4+ T cell (CD4+ CER-T cell) with a chimeric antigen receptor CD8+  T cell (CD8+ CAR-T cell) or T cell receptor CD8+ T cell (CD8+ TCR-T cell), and their use to treat cancer. This type of combination therapy could be an exciting avenue to complement the CER-T cell technology with other powerful anti-cancer therapies. CERo’s intellectual property portfolio now includes 9 total patent families with protection out to 2042 in the United States.

    With these additional granted patents and allowed application, CER-1236 and its platform technology is supported by 18 total issued patents and allowed patent application internationally.

    Chris Ehrlich, CERo Therapeutics CEO, commented, “We continue to aggressively expand our intellectual property portfolio, as it ensures CERo’s success in the market. These patents protect the core innovations of the CER-T technology that differentiate it from other cell therapies and demonstrate the true novelty of our design .  We continue to seek a robust range of patents across multiple geographies that cover this technology in general, and CER-1236 in particular. The appreciation of the novelty of the CER-T technology by the patent offices validates the innovation and therapeutic potential of this approach, and we believe that we will continue to grow the portfolio. In the near term, we anticipate updates on our clinical trial progress in AML, and the announcement of initiating human trials to treat ovarian and non-small cell lung cancers.”

    About CERo Therapeutics Holdings, Inc.

    CERo is an innovative immunotherapy company advancing the development of next generation engineered T cell therapeutics for the treatment of cancer. Its proprietary approach to T cell engineering, which enables it to integrate certain desirable characteristics of both innate and adaptive immunity into a single therapeutic construct, is designed to engage the body’s full immune repertoire to achieve optimized cancer therapy. This novel cellular immunotherapy platform is expected to redirect patient-derived T cells to eliminate tumors by building in engulfment pathways that employ phagocytic mechanisms to destroy cancer cells, creating what CERo refers to as Chimeric Engulfment Receptor T cells (“CER-T”). CERo believes the differentiated activity of CER-T cells will afford them greater therapeutic application than currently approved chimeric antigen receptor (“CAR-T”) cell therapy, as the use of CER-T may potentially span both hematological malignancies and solid tumors. CERo has commenced clinical trials for its lead product candidate CER-1236 for hematological malignancies.

    Forward-Looking Statements

    This communication contains statements that are forward-looking and as such are not historical facts. This includes, without limitation, statements regarding the financial position, business strategy and the plans and objectives of management for future operations of CERo. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this communication, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. When CERo discusses its strategies or plans, it is making projections, forecasts or forward-looking statements. Such statements are based on the beliefs of, as well as assumptions made by and information currently available to, CERo’s management.

    Actual results could differ from those implied by the forward-looking statements in this communication. Certain risks that could cause actual results to differ are set forth in CERo’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, and the documents incorporated by reference therein. The risks described in CERo’s filings with the Securities and Exchange Commission are not exhaustive. New risk factors emerge from time to time, and it is not possible to predict all such risk factors, nor can CERo assess the impact of all such risk factors on its business, or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements made by CERo or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. CERo undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    Contact:
    Chris Ehrlich
    Chief Executive Officer
    chris@cero.bio

    Investors:
    CORE IR
    investors@cero.bio

    The MIL Network –

  • MIL-OSI Global: Debunking 5 myths about when your devices get wet

    Source: The Conversation – USA – By Rachel Plotnick, Associate Professor of Cinema and Media Studies, Indiana University

    Consumer technologies get wet as a regular part of everyday life. Shuvro Mojumder/Unsplash , CC BY-SA

    Nearly everyone has encountered the unthinkable: Your smartphone landed in the toilet. Or you forgot to take off your smartwatch before jumping into the pool. Or maybe you meant to take those earbuds out of your pocket before running the laundry. What now?

    Internet forums are chock-full of advice to dry out that drenched device, but problematic myths about liquid protection and repair make it hard for consumers to separate fact from fiction.

    I’m a researcher who studies how technologies play a part in people’s everyday practices and experiences. My new book, “License to Spill: Where Dry Devices Meet Liquid Lives,” explores the wet-dry boundary in how people perceive and treat their electronic devices.

    Here are five common myths about getting devices wet:

    Myth 1: My device turned back on! It’s fine

    While it’s a relief to see your technology rise from the dead, what you can’t see are subtle processes occurring inside, like corrosion. The breakdown of your device’s metal parts due to moisture often happens over time, in a period that can take place days, weeks or months after the offending incident.

    That’s why even humidity from moist climates or your steamy shower can make a long-term impact, despite the fact that everything booted up right away after a splash or dunk.

    Myth 2: My ‘waterproof’ device can tolerate any kind of wetness

    The term “waterproof” is a controversial one – so controversial, in fact, that the Federal Trade Commission has strict rules about using the term in advertising, once even banning it from ad copy selling wristwatches.

    Given the vagueness of the term, it’s better to examine different water resistance standards, such as ingress protection, or IP, ratings and MIL-SPEC, or ISO in the case of watches, and to read the fine print about what those standards actually cover.

    Myth 3: My device has a great IP rating, so it’s been tested under real-world conditions

    Companies often advertise IP ratings as a way to entice consumers to purchase their products, but it’s important to know that these ratings are based on contact with fresh water. If you’re worried about Jacuzzi suds or that tipped-over can of beer, there’s no guarantee that a manufacturer has tested your device in these – often sticky – situations, and an IP rating won’t account for them.

    Myth 4: I’ve got some rice in the kitchen. I can fix this myself!

    It’s natural to panic and seek out the quickest household solution when a spill or dunk happens, and a cup of rice is still a commonly sought-out option.

    However, the rice hack doesn’t work very well, and rice particles can enter the device to cause even further damage. Aside from bringing your device to a professional repairer, you’re better off immediately powering down your product, removing its battery and plug if you can, and letting all the components dry over a day or two.

    Myth 5: Well, this device is broken, but I’ve got a warranty to replace it

    While you’re pulling your product from its watery grave, you might find relief in the fact that it came with a warranty. Not so fast.

    Most traditional consumer technology limited warranties don’t cover liquid damage. These days, you usually need to purchase an add-on warranty, often called Accidental Damage from Handling. Beware, though: Even those policies may limit how many wetness “incidents” or “events” you’re allowed per year.

    Air flow is the best way to dry a device that’s taken a dunk. Don’t expose your device directly to rice, cat litter or other particles.

    Keeping it realistic

    Water resistance features on devices like laptops, tablets, smartphones and smartwatches have recently improved, but the deck is still often stacked against consumers who must wade through the hype of advertising claims, mystifying classification systems and penalizing policies.

    That’s why it’s critical for manufacturers to think carefully and ethically about how their products are designed, marketed and serviced. In terms of design, water resistance is no longer a niche feature meant solely for industrial workers or outdoor adventurers. While it’s unrealistic to expect a device that’s designed to resist every hazard, it’s also unreasonable to ask consumers to tiptoe around the products that provide them with access to critical resources and social support.

    It’s important for manufacturers to avoid promising consumers the Moon. Samsung Australia, for instance, paid AU$14 million in penalties for exaggerating its phones’ protection for swimming. It’s certainly fun to watch commercials with Lil Wayne spray a smartphone with champagne or see him dunk it in a fish tank, but if manufacturers are advising against these practices, then they shouldn’t be romanticizing them.

    Sure, it’s probably common sense that your phone shouldn’t take a bath in champagne. Yet life is constantly happening around – and with – our devices, from the shower and the kitchen to the gym and the beach. This means that fairer policies around repair, like those promoted by the right-to-repair movement, and warranties should stop treating consumers like they’re “bad” users.

    After all, we’re each just one splash away from crying over spilled milk.

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

    – ref. Debunking 5 myths about when your devices get wet – https://theconversation.com/debunking-5-myths-about-when-your-devices-get-wet-257205

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: UK international risk status for BSE downgraded in huge boost to farm sector

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK international risk status for BSE downgraded in huge boost to farm sector

    World Organisation for Animal Health (WOAH) downgrades UK’s BSE risk rating to negligible

    The UK’s risk rating status for Bovine Spongiform Encephalopathy (BSE) has been downgraded to negligible by the World Organisation for Animal Health (WOAH).

    In a major boost for the food and farm sector, more avenues will now be open for trade with other countries as our improved risk status for beef and bovine products is recognised.  

    The abattoir and meat processing industry will be able to take advantage of changes to control measures, which will reduce operational burden and release financial savings for the abattoir and meat processing industry.

    The UK’s improved risk status is a reflection of the UK’s global reputation for having some of the highest standards in the world for biosecurity . 

    BSE, occasionally known as mad cow disease,  was a considerable public health concern in the 1980s leading to long-standing bans on British beef exports. The downgrading risk status marks a major step forward, reflecting decades of rigorous controls and opening the door to expanded trade and renewed confidence in UK beef.

    Farming Minister Zeichner said:

    Today’s announcement is a major step forward and will deliver a real boost to our hard-working cattle farmers, who will now have more avenues open for trading our excellent beef products.

    It is also a huge vote of confidence in this government’s commitment to rigorous animal health standards and biosecurity.

    UK Chief Veterinary Officer, Christine Middlemiss said: 

    WOAH’s recognition of the UK as negligible risk for BSE is a significant milestone and is a testament to the UK’s strong biosecurity measures and the hard work and vigilance of farmers and livestock keepers across the country who have all played their part in managing the spread of this disease.  

    This is the latest example of the UK’s global reputation as a world leader in biosecurity and our new status will improve UK trade for beef and bovine products and reduce the operational burden and create financial savings for the abattoir and meat processing industry.

    Natasha Smith, Deputy Director of Food Policy at the Food Standards Agency said:     

    This good news reflects that our strict controls in place to protect consumers such as controls on animal feed, and removal of the parts of cattle most likely to carry BSE infectivity,  have helped make sure there is no food safety risk.    

    Although the meat industry will be now able to use more of the carcass, consumers can be reassured that strict food safety controls remain in place.  Food Standards Agency Official Veterinarians and Meat Hygiene Inspectors working in all abattoirs in England and Wales will continue to ensure that the safety of consumers remains the top priority. 

    Nan Jones, British Meat Processors Association (BMPA) Technical Policy Manager said:

    This milestone is of significant value to the industry. To illustrate, the ability to recover mesenteric fat alone could generate value of approximately £10 million per year. Given the substantial benefits this change brings to our members, we hope that the improving UK–EU relationship offers an opportunity to seek earlier EU recognition of our status.

    Jonathan Eckley, Agriculture and Horticulture Development Board (AHDB) International Trade Development Director, said:

    This is welcome news for the UK beef sector. It highlights the strength of our animal health and food safety systems, reinforces the UK’s reputation for high-quality beef, and supports ongoing efforts to grow our export markets.

    Farmers and livestock owners are still urged to remain vigilant for BSE disease. BSE is a notifiable animal disease. If you suspect it, you must report it immediately by calling the Defra Rural Services Helpline on 03000 200 301. In Wales, contact 0300 303 8268. In Scotland, contact your local Field Services Office. Failure to do so is an offence. This applies to pet and small holder animals as well as commercial cattle.

    Updates to this page

    Published 2 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Prime Minister hails trade deal successes for Scotland

    Source: United Kingdom – Executive Government & Departments

    Press release

    Prime Minister hails trade deal successes for Scotland

    From the Highlands to the Borders, Scottish people are set to benefit from the UK’s landmark trade deals with India, US and EU announced in recent weeks.

    • Prime Minister visits historic distillery in Glasgow to discuss trade deal benefits for the Scotch Whisky industry 
    • Follows UK hat trick of trade deals with India, US and EU – improving people’s lives across the country 
    • Deals will help drive growth in Scotland and put more money in the pockets of the hardworking Scottish people

    From the Highlands to the Borders, Scottish people are set to benefit from the UK’s landmark trade deals with India, US and EU announced in recent weeks. 

    The Prime Minister discussed the huge growth opportunities and benefits for Scotland during a visit Clydeside Distillery in Glasgow today. 

    Visit comes after Prime Minister visited BAE Govan this morning to announce the Strategic Defence Review, which will see significant investment in Scotland . More than £2 billion a year is already spent by the Ministry of Defence with industry organisations of all sizes in Scotland, supporting over 25,000 skilled jobs in Scotland. 

    The world-renowned Scotch Whisky industry is set to boom globally – with the Scotch Whisky Association announcing they forecast £1 billion of extra exports in five years, plus 1,200 new jobs thanks to the tariff reductions as part of the UK-India Free Trade Agreement. 

    India is an important market for Scotland, with 457 Scottish businesses exporting a total of £610 million in goods there last year. 

    Under the India trade deal, tariffs have been cut on a range of iconic Scottish goods, from whisky tariffs halved from 150% to 75% and dropping to 40% after 10 years to salmon reduced from 33% to 0%. Iconic Scottish brands like Irn Bru and Scottish shortbread will also see reduced tariffs. 

    Scotland’s thriving life sciences and health tech hubs will be strengthened by IP commitments on areas such as trade secrets and copyright, helping companies export to India with confidence.

    Prime Minister Keir Starmer said:

    Our trade deals with India, US and the EU will slash tariffs on key industries and open markets set to help drive growth in Scotland and put money in the pockets of the hardworking Scottish people, delivering on our Plan for Change. 

    Scotland is home to some of the most world-renowned products, which can now be enjoyed across the globe – all whilst saving Scottish businesses money.  

    That is why we have secured these deals, and why we will continue to go further and faster to improve the lives of everyone in the UK.

    Secretary of State for Scotland Ian Murray said:

    Our trio of trade deals shows we are championing Scottish products and businesses on the global stage. From our world-renowned whisky distilleries to our cutting-edge green energy sector, Scotland has so much to offer international markets. But more importantly as part of our Plan for Change this means more money in people’s pockets.

    By securing better access to the European Union, United States and India, we’re creating real opportunities for Scottish businesses to grow, supporting jobs in communities from the Highlands to the Borders.

    Mark Kent, Chief Executive Officer of the Scotch Whisky Association, said: 

    As the UK’s largest food and drink export to 180 markets worldwide, Scotch Whisky producers welcome the work being done to reduce trade barriers around the world. The landmark UK-India free trade agreement will be transformational for the Scotch Whisky industry over the longer term and has the potential to increase exports to India by £1bn over the next 5 years and creating 1,200 jobs across the UK.

    It’s also constructive to see a potential reduction in the burden on exporters through the UK agreement with the EU. We continue to support the UK government’s efforts to address the issue of tariffs with the US and establish a pathway to return to the zero-for-zero tariff arrangement we have had with the US on spirits for more than 30 years.

    The new agreement with the European Union, the UK’s largest trading market, will directly address challenges faced by Scottish exporters since 2019. The Scottish salmon industry has estimated that between 2019 and 2023, Scottish Salmon export values experienced a net loss of around £75 million. The deal with the EU makes it significantly easier to sell Scottish goods to European markets.

    Updates to this page

    Published 2 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Disposable Vapes banned from 1 June 2025

    Source: City of Coventry

    Since 1 June 2025 it is illegal for businesses to sell, offer to sell or have in their possession for sale, all single-use or ‘disposable’ vapes.

    This applies to sales online and in shops and include all vapes, whether they contain nicotine or not.

    The Government has produced guidance for affected retailers which can be found by following this link: https://www.gov.uk/guidance/single-use-vapes-ban

    In preparation for the ban, retailers were contacted by Trading Standards and told to stop buying any new stock of single-use vapes, to sell through all existing affected stock and to only buy vapes that follow the new regulations. It is crucial that from now on, retailers source only vapes which are compliant with the new law.

    If any retailers do have any leftover single-use vaping products following 1 June cut-off, they will need to separate them from other goods, label them as unsellable and remove them from sale. Any affected vapes should be stored in vape bins only and be regularly collected for recycling. Unsafe storage can result in a significant fire risk.

    If retailers are found to be selling or supplying single-use vapes following the ban, Trading Standards will be able to take enforcement action. Affected stock can be seized by officers and sanctions can include a fixed penalty fine and / or applying to review or amend a premises licence. If a business continues to sell single-use vapes after being warned, the local authority may take further action which can result in higher fines and possible premises closure orders and / or prosecution being sought.

    The new regulations will require vapes to be rechargeable and refillable, or incorporate a pod system. Retailers are being warned that not all new devices on the market will automatically be compliant. New compliant products have already appeared on the market which clearly indicate they comply with the new law and retailers are again urged to check first before buying.

    If you suspect that someone is supplying single-use vapes, please feel free to report the matter via our anonymous online reporting page

    Monday, 2nd June 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Oportun Issues Letter to Stockholders and Mails Definitive Proxy Materials

    Source: GlobeNewswire (MIL-OSI)

    Highlights strong momentum in driving profitable growth and delivering stockholder value

    Urges stockholders to vote “FOR” Oportun’s two highly qualified nominees – Raul Vazquez and Carlos Minetti – on the GREEN proxy card

    Launches VoteForOportun.com, providing additional information for stockholders

    SAN CARLOS, Calif., June 02, 2025 (GLOBE NEWSWIRE) —  Oportun (Nasdaq: OPRT), a mission-driven financial services company, today issued a letter to stockholders detailing the progress Oportun’s experienced management team and Board of Directors have made in driving financial and operational performance.

    The letter highlights information critical for stockholders to know ahead of Oportun’s upcoming 2025 Annual Meeting of Stockholders (the “Annual Meeting”), including that:

    • Oportun’s decisive actions to improve credit outcomes, strengthen business economics and identify high-quality originations are yielding concrete results as reflected in the Company’s Q1 2025 performance:
      • Aggregate originations grew by nearly 40% year-over-year;
      • Adjusted operating expense ratio reached 13.3%, its second lowest ever as a public company; and
      • Strong credit metrics, including a fifth consecutive year-over-year decline in 30+ day delinquency rate.
    • The Company continues to expect 2025 adjusted EPS guidance of $1.10 to $1.30 reflecting year-over-year growth of 53% to 81%.
    • The Company’s strong momentum has translated to total stockholder returns that have significantly outperformed its peers and the broader markets year-to-date, over the last six months and over the past year.
    • Oportun’s Board is uniquely qualified to oversee continued value creation, with critical expertise in areas that are essential to Oportun’s business.
    • Findell Capital Management’s proposal to remove CEO Raul Vazquez from the Board would jeopardize the continuity, leadership and business insight needed to continue the Company’s significant progress, and would send a disruptive message to employees and stakeholders.
    • Compared to Mr. Vazquez’s proven leadership and deep understanding of Oportun’s business, Findell Capital’s nominee falls short of the necessary experience and expertise needed to effectively oversee the execution of the Company’s strategic objectives.

    Oportun also recently mailed its definitive proxy materials in connection with the Annual Meeting. Stockholders of record as of May 27, 2025 are entitled to vote at the Annual Meeting, which will be held on July 18, 2025.

    To ensure Oportun’s progress continues, Oportun’s Board urges stockholders to vote “FOR” Oportun’s two highly qualified nominees – Raul Vazquez and Carlos Minetti – using the GREEN proxy card or GREEN voting instruction form. The letter to stockholders, definitive proxy materials and other important information related to the Annual Meeting can be found at VoteForOportun.com.

    The full text of the letter to stockholders follows:

    Dear Fellow Stockholders,

    The 2025 Annual Meeting of Stockholders (the “Annual Meeting”) of Oportun Financial Corporation (“Oportun” or the “Company”) is scheduled to be held on July 18, 2025. You have an important decision to make to support the continued execution of Oportun’s strategy to drive profitable growth and deliver stockholder value.

    Enclosed you will find materials that describe Oportun’s strategy and the progress we have made to streamline the Company’s product portfolio, reduce costs and increase profitability, driven by our experienced management team and overseen by our Board of Directors (the “Board”).

    We encourage you to review these materials carefully and vote today FOR each of the Company’s nominees standing for election at the Annual Meeting — Raul Vazquez and Carlos Minetti — using the enclosed GREEN proxy card.

    Overview of Oportun & Our History

    Over the past 19 years, Oportun has been guided by our mission: to provide inclusive, affordable financial services that empower hardworking people to build better futures.

    By offering responsible credit at lower costs than typical alternatives, we serve individuals who are often overlooked and poorly served by traditional financial institutions. This has enabled us to extend over $20 billion in credit and help more than 1.3 million members build credit histories. Our strong customer loyalty is reflected in Net Promoter Scores consistently at or above 75 — well above industry norms.

    To provide some background on how our strategy has evolved, we saw a compelling opportunity to extend our impact across underserved communities, deepen our relationship with our loyal members and unlock long-term value for stockholders by expanding our offerings and growing our loan portfolio from $5 million in 2009 to approximately $3 billion today. Supported by robust customer demand for holistic financial solutions as well as favorable credit and market conditions — including low inflation, interest rates, oil prices and unemployment — we embarked on our growth strategy.

    We executed our growth strategy with discipline, expanding first into credit cards and then into secured personal loans before acquiring Digit in December of 2021, which added savings, investing and budgeting capabilities to our platform. We delivered strong growth and record aggregate originations in 2021, while maintaining some of the lowest net charge-off and 30+ day delinquency rates in our history.

    Beginning in early 2022, however, the world changed — rapidly and unexpectedly. The war in Ukraine triggered a sharp increase in oil and energy prices, and supply chain disruptions contributed to rising and sustained inflation. The Federal Reserve began a series of rate increases to tame inflation, which led to a higher cost of capital for financial services companies. As a result, many financial services companies faced significant pressure, with some going out of business altogether.

    Oportun was not immune to those headwinds. Our cost of capital increased significantly and many of our members, who typically have modest incomes and limited savings, were disproportionately affected by rising inflation and a higher cost of living, which impacted their ability to repay loans.

    Our Response to Significant Macroeconomic Disruption

    The management team and Board determined that our growth-focused strategy was no longer prudent under those economic conditions and took action to reposition the Company. We responded swiftly by shifting our focus from growth to profitability and predictability, realigning our business around our core strengths.

    After initially tightening credit in the third quarter of 2021, we proactively announced further significant credit actions during our second quarter 2022 earnings call — despite meeting or exceeding all guidance metrics, including credit. We also announced our intention to significantly reduce operating expense growth to flat in the second half of 2022 compared to the first.

    We continued to tighten credit in subsequent quarters, leading to an approximately 600 basis point reduction in first quarter 2025 losses for recent loan vintages compared to early 2022 vintages. We also took decisive steps to reduce our cost structure, including four reductions-in-force and targeted operational streamlining. Those initiatives — which also included non-personnel expense cuts, the exit of capital-intensive products and the sale of our credit card portfolio — eliminated approximately $240 million in annualized expenses.

    Today, Oportun is focused on three strategic priorities to drive sustainable, profitable growth:

    • Improving credit outcomes
    • Strengthening business economics
    • Identifying high-quality originations

    Our Business Transformation is Yielding Measurable Results

    While we recognize that there is more work to do, our team is executing well. Our progress across each of our strategic priorities is evident in our recent financial results.

    During the first quarter of 2025, we grew aggregate originations by nearly 40% year-over-year while delivering strong credit metrics, including our fifth consecutive year-over-year decline in 30+ day delinquency rate. Our adjusted operating expense ratio of 13.3% was also our second lowest ever as a public company, underscoring our ongoing focus on expense discipline.

    Supported by a more efficient cost structure and improved credit performance, we believe Oportun is well-positioned to deliver strong financial results in 2025. We continue to expect 2025 adjusted EPS guidance of $1.10 to $1.30 reflecting year-over-year growth of 53% to 81%.

    The market has recognized our progress: our total stockholder returns have significantly outperformed our peers and the broader markets year-to-date, over the last six months and over the past year.

    Today, Oportun is stronger, more resilient and more focused than it was three years ago. We are confident in our ability to deliver sustainable, profitable growth going forward.

    Our Board & Governance

    At this year’s Annual Meeting, Oportun is nominating two candidates for election to the Board: Raul Vazquez, Oportun’s CEO, and Carlos Minetti, one of our independent directors.

    As Oportun’s CEO, Mr. Vazquez has unique insight into the day-to-day operation of our business and has been instrumental in leading Oportun through its transformation as well as through several credit and economic cycles. As a significant stockholder, his interests are strongly aligned with those of our investors, reinforcing his commitment to long-term success.

    Mr. Minetti is one of the Board’s newest directors, having been appointed in February 2024. He has more than 35 years of experience in the financial services industry, including expertise in consumer lending and credit risk. He has held leadership roles at companies like Stripe, Discover and American Express.

    If elected, Mr. Vazquez and Mr. Minetti will serve alongside the Company’s six other directors, each of whom has played an important role in overseeing our progress. These directors bring critical expertise in areas that are essential to our business, including financial services, credit risk, consumer lending, government regulation, capital markets and technology.

    In addition to the election of directors, stockholders can also vote at this year’s Annual Meeting on proposals to amend the Company’s governing documents to declassify the Board and allow stockholders to amend and approve amendments to our governing documents with a simple majority vote. These two proposals reflect our ongoing commitment to effective oversight and governance and, if approved, would enhance stockholder rights and strengthen accountability.

    This Year’s Annual Meeting

    Despite the meaningful progress we have made, one of our stockholders, Findell Capital Management, LLC (together with its affiliates, “Findell”) is once again pursuing a proxy contest, this time seeking to remove our CEO from the Board and replace him with its own candidate.

    Over the last several years, we have engaged extensively with Findell in good faith. Since the beginning of 2023, members of the Board and management team have had dozens of interactions with Findell’s principal to understand his perspective and explore areas for alignment.

    We have objectively considered Findell’s suggestions and embraced more than a few of its recommendations, including recently when we determined to reduce the size of the Board and appoint a new Lead Independent Director after the Annual Meeting. We have also independently undertaken initiatives consistent with Findell’s feedback, including reducing expenses, streamlining our business and enhancing our corporate governance profile.

    We do not believe Findell’s nominee is a suitable replacement for Mr. Vazquez. Removing our CEO from the Board would jeopardize the continuity, leadership and business insight we need to continue the significant progress we’ve made, and would send a disruptive message to our employees and other stakeholders.

    Thank you for your support and investment in Oportun as we continue to work to create value on behalf of all stakeholders.

    Sincerely,
    The Oportun Financial Corporation Board of Directors

    Your Vote Is Important!

    Please vote on the GREEN proxy card “FOR” the Company’s two nominees, and “WITHHOLD” on Findell’s candidate, using one of the following options:

    • Online – Follow the instructions set forth on the enclosed GREEN proxy card to vote via the Internet,
    • Phone – Follow the instructions set forth on the enclosed GREEN proxy card to vote by telephone, or
    • Mail – Mark, sign and date the enclosed GREEN proxy card and return it in the postage-paid envelope provided.

    Remember, please discard and do not sign any white Findell proxy card. If you have already voted using a white proxy card, you may cancel that vote simply by voting again using the Company’s GREEN proxy card. Only your latest-dated vote will count!

    If you have any questions about how to vote your shares, please call the firm assisting us with the solicitation of proxies:

    INNISFREE M&A INCORPORATED
    Shareholders may call:
    (877) 800-5195 (toll-free from the U.S. and Canada) or
    +1 (412) 232-3651 (from other countries)

    About Oportun

    Oportun (Nasdaq: OPRT) is a mission-driven financial services company that puts its members’ financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than $20.3 billion in responsible and affordable credit, saved its members more than $2.4 billion in interest and fees, and helped its members set aside an average of more than $1,800 annually. For more information, visit Oportun.com.

    Cautionary Statement on Forward-Looking Statements 
    Certain statements in this communication are “forward-looking statements”. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this communication, including statements as to our future performance, financial position and our strategic initiatives, and the Annual Meeting, are forward-looking statements. These statements can be generally identified by terms such as “expect,” “plan,” “goal,” “target,” “anticipate,” “assume,” “predict,” “project,” “outlook,” “continue,” “due,” “may,” “believe,” “seek,” or “estimate” and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as “will,” “should,” “would,” “likely” and “could.” These statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events, financial trends and risks and uncertainties that we believe may affect our business, financial condition and results of operations. These risks and uncertainties include those risks described in our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K for the year ended December 31, 2024, as well as our subsequent filings with the SEC. These forward-looking statements speak only as of the date on which they are made and, except to the extent required by federal securities laws, we disclaim any obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as required by law. In light of these risks and uncertainties, there is no assurance that the events or results suggested by the forward-looking statements will in fact occur, and you should not place undue reliance on these forward-looking statements. 

    Non-GAAP Financial Measures 
    This communication includes the presentation and discussion of certain financial measures that are not calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).  

    Adjusted Net Income is a non-GAAP financial measure defined as net income adjusted to eliminate the effect of certain items. We believe that Adjusted Net Income is an important measure of operating performance because it allows management, investors, and our Board of Directors to evaluate and compare our operating results, including return on capital and operating efficiencies, from period to period, excluding the after-tax impact of non-cash, stock-based compensation expense and certain non-recurring charges. 

    Adjusted Earnings (Loss) Per Share is a non-GAAP financial measure defined as Adjusted Net Income divided by weighted average diluted shares outstanding. We believe Adjusted Earnings (Loss) Per Share is an important measure because it allows management, investors and our Board of Directors to evaluate the operating results, operating trends and profitability of the business in relation to diluted adjusted weighted-average shares outstanding. 

    Adjusted Operating Expense is a non-GAAP financial measure defined as total operating expenses adjusted to exclude stock-based compensation expense and certain non-recurring charges, such as expenses associated with our workforce optimization, and other non-recurring charges. Other non-recurring charges include litigation reserve, impairment charges, and debt amendment costs related to our corporate financing facility. We believe Adjusted Operating Expense is an important measure because it allows management, investors and our Board of Directors to evaluate and compare our operating costs from period to period, excluding the impact of non-cash, stock-based compensation expense and certain non-recurring charges. 

    Adjusted Operating Expense Ratio is a non-GAAP financial measure defined as Adjusted Operating Expense divided by Average Daily Principal Balance. We believe Adjusted Operating Expense Ratio is an important measure because it allows management, investors and our Board of Directors to evaluate how efficiently we are managing costs relative to revenue and Average Daily Principal Balance. 

    See below for a reconciliation of the 2025 non-GAAP figures provided in this document to the corresponding GAAP figure:  

    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
    (in millions, unaudited)
        Three Months Ended
    March 31,
    Adjusted Operating Expense Ratio   2025     2024  
    OpEx Ratio   13.9%     15.5%  
             
    Total Operating Expense   $92.7     $109.6  
    Adjustments:        
    Stock-based compensation expense    (2.8)     (4.0)  
    Workforce optimization expenses    0.1     (0.8)  
    Other non-recurring charges    (1.0)     (3.1)  
    Total Adjusted Operating Expense   $88.9     $101.7  
             
    Average Daily Principal Balance   $2,705.2     $2,851.7  
             
    Adjusted OpEx Ratio   13.3%     14.3%  
             

    Note: Numbers may not foot or cross-foot due to rounding. 

    RECONCILIATION OF FORWARD-LOOKING NON-GAAP FINANCIAL MEASURES
    (in millions, unaudited)
        FY 2025
    Adjusted Net Income and Adjusted EPS   Low   High
    Net income   $23.2   $33.4
    Adjustments:        
    Income tax expense (benefit)   6.3   9.0
    Stock-based compensation expense   13.7   13.7
    Other non-recurring charges   6.0   6.0
    Mark-to-market adjustment on ABS notes       23.5   23.5
    Adjusted income before taxes       $72.6
    		   $85.6
    Normalized income tax expense       19.6   23.1
    Adjusted Net Income       $53.0
    		   $62.5
             
    Diluted weighted-average common shares outstanding   48.0   48.0
             
    Diluted earnings per share   $0.48   $0.70
    Adjusted Earnings Per Share   $1.10   $1.30

    Note: Numbers may not foot or cross-foot due to rounding. 

    This non-GAAP information should be considered as supplemental in nature and is not meant to be considered in isolation from, or as a substitute for, the related financial information prepared in accordance with GAAP. In addition, this non-GAAP financial measure may not be the same as similar measures presented by other companies. We are unable to predict or estimate with reasonable certainty the ultimate outcome of certain items required for corresponding GAAP measures without unreasonable effort. Information about the adjustments that are not currently available to the Company could have a potentially unpredictable and significant impact on future GAAP results. 

    Investor Contact
    Dorian Hare
    (650) 590-4323
    ir@oportun.com

    Innisfree M&A Incorporated
    Scott Winter / Gabrielle Wolf / Jonathan Kovacs
    (212) 750-5833

    Media Contact
    FGS Global
    John Christiansen / Bryan Locke
    Oportun@fgsglobal.com

    The MIL Network –

  • MIL-OSI Economics: Dimitar Radev: Responding to policy volatility – the outlook for public investors

    Source: Bank for International Settlements

    The defining feature of our current environment is volatility. It dominates economic briefings, investment strategies and global outlooks.

    This volatility is not just market noise. It signals deeper, systemic shifts. We are no longer navigating temporary dislocations. We are operating in a fundamentally more uncertain world. Policy itself has become a source of volatility.

    This transformation has profound implications for how we think, plan and invest. To navigate this environment, we must rely on a strong conceptual framework – one grounded in economic reality and institutional adaptability.

    Five key assumptions

    My conceptual framework is based on five key assumptions.

    First, policy volatility is structural, not episodic. Geopolitical tensions are intensifying. Trade flows are becoming politicised. Financial sanctions are more frequent and increasingly targeted. These are not temporary disruptions – they are reshaping the global financial system.

    Second, in such an environment, strategic resilience must take precedence over tactical prediction. Diversification remains important, but it is no longer sufficient. We must embed optionality into our governance frameworks – ensuring that our policies and processes allow rapid adaptation to shifting conditions.

    Third, policy coordination is more essential than ever – both within institutions and externally. Reserve management cannot be isolated from monetary policy or financial stability. Our investment decisions must support, rather than complicate, broader policy objectives – especially during periods of stress. Externally, coordination with fiscal authorities and international institutions is critical. In a fragmented world, shared insight becomes a powerful source of stability.

    Fourth, we must re-examine the notion of strategic autonomy – not only at the European level but also nationally. In a climate of geopolitical uncertainty, it is not only what assets we hold, but whether we can access them when needed. This requires a renewed focus on exposures and counterparty risk, along with a serious evaluation of alternative reserve assets – including gold and exchange-traded funds – and a strategic effort to expand and strengthen regional currency arrangements, such as the euro area.

    Fifth, despite short-term noise, we must remain focused on the long term. Demographic aging, the climate transition and technological disruption are not distant threats – they are present investment realities. We must integrate these forces into public wealth management to preserve value and foster sustainable economic growth.

    Implications for Bulgaria and the CEE region

    The implications for Bulgaria may mirror broader trends across central and eastern Europe. While Bulgaria’s direct exposure to current trade tensions is limited, indirect effects could be significant. We are deeply integrated into European supply chains and heavily reliant on external demand from major euro area economies. A slowdown in these – driven by weakening global trade – poses real risks to our exports and investment flows.

    At the same time, the restructuring of global supply chains introduces uncertainty about future trade routes and production hubs. The full impact is difficult to quantify. But the risks are clearly tilted to the downside, with potential consequences for medium-term growth.

    One channel already in motion is commodities. Expectations of softer global demand – driven by trade tensions – have pushed oil prices down. For energy-intensive economies like Bulgaria, this has delivered a short-term disinflationary effect.

    However, the broader inflationary and investment implications of trade fragmentation remain uncertain and may evolve rapidly.

    Foreign exchange reserve management

    The optimal composition of foreign exchange reserves warrants renewed scrutiny. We now operate in an environment marked by heightened geopolitical tensions, weaker global growth, volatile capital flows and increased market instability

    Historically, confidence in the US economy and financial system has supported the dominance of the dollar. As of the end of 2024, there has been no major shift in global reserve currency allocations – the dollar remains dominant, underpinned by its liquidity, depth and perceived safety. Yet this may be beginning to change.

    Simultaneously, gold has re-emerged as a strategic reserve asset. Several central banks have significantly increased their gold holdings in recent years – not only as a hedge against financial risk, but also as protection against geopolitical shocks.

    These trends sharpen the focus on the euro’s role as a reserve currency – an increasingly relevant question.

    The euro and Bulgaria’s strategic path

    For Bulgaria, these developments make our long-standing ambition to join the euro area more relevant – and more urgent – than ever. This conclusion is clearly supported by the prevailing conceptual framework outlined here.

    Euro adoption will have five sets of repercussions. It will anchor Bulgaria’s monetary policy within the European Central Bank framework, and provide credibility, stability and predictability. Furthermore, it will reduce currency risk and protect the economy from speculative pressure; enhance investor confidence and deepen financial integration; and offer access to euro area mechanisms, such as the European Stability Mechanism.

    In a world where policy volatility is structural, euro area membership will strengthen Bulgaria’s strategic resilience – through institutional alignment and enhanced crisis response tools.

    Bulgaria’s reserve management strategy

    At present, the composition of Bulgaria’s foreign exchange reserves is shaped by our legal mandate and the operational logic of the currency board. About 90% of our reserves are held in euros, with the remaining 10% in gold.

    Credit and currency risks are tightly constrained. Eligible assets must carry a minimum AA– rating. This conservative, short-duration approach has served us well during periods of market stress.

    Looking ahead, euro area accession will mark a new phase in reserve management. The new law on the Bulgarian National Bank introduces greater flexibility. With the euro becoming our domestic currency, we will begin to diversify our foreign exchange reserves into other currencies.

    We are already laying the groundwork – developing new operational infrastructure, expanding our network of counterparties and building deeper market expertise.

    We will also adjust our risk framework, relaxing the credit threshold of the securities we hold from AA- to A- and extending the investment horizon from short-term to strategic, long-term. These reforms will broaden our investment universe – potentially including instruments such as ETFs. Naturally, any such instruments will be subject to rigorous assessment to ensure alignment with our core objectives: capital preservation and liquidity assurance.

    Central banks must adapt

    As global fragmentation becomes a defining feature of the international landscape, central banks must adapt. We must continue to uphold the core principles of reserve management – liquidity, safety and return – while increasingly addressing geopolitical and systemic risks.

    Strategic positioning will be just as important as financial fundamentals. For the Bulgarian National Bank, this means maintaining resilience under today’s currency board – while preparing for a more dynamic, risk-aware reserve management strategy in the very near future.

    The reforms ahead will require careful execution. But they also offer a timely opportunity to strengthen our capabilities, increase our adaptability and position ourselves for a more volatile, multipolar world.

    MIL OSI Economics –

  • PM Modi appreciates Paraguay President Peña’s condemnation of Pahalgam terror attack

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi held wide-ranging bilateral talks with Paraguayan President Santiago Peña Palacios at Hyderabad House in New Delhi on Monday, marking a key moment in India–Paraguay relations. The discussions focused on expanding cooperation across sectors including trade, defence, infrastructure, healthcare, and critical technologies.
     
    Prime Minister Modi began by expressing deep appreciation to Paraguay for its strong condemnation of the April 22 terrorist attack in Pahalgam, Jammu and Kashmir, and the solidarity shown with India.
     
    “President Peña’s visit comes shortly after the heinous attack in Pahalgam. I thank him and the people of Paraguay for their heartfelt condolences and support,” PM Modi said during the talks.
     
    P. Kumaran, Secretary (East) at the Ministry of External Affairs, said in a press briefing that both leaders unequivocally condemned terrorism and violent extremism in all its forms, reinforcing a shared commitment to global peace and security.
     
    President Peña, making his first visit to India, is on a State Visit from June 2 to 4. It marks only the second visit by a Paraguayan President to India—the previous one having taken place in 2012. He is accompanied by a high-level delegation that includes ministers, parliamentarians, provincial governors, and senior officials.
     
    During the talks, the two sides explored avenues to strengthen ties in key areas such as digital technology, pharmaceuticals, energy, mining, agriculture, defence, railways, and space cooperation. They also discussed enhancing trade under the existing Preferential Trade Agreement between India and MERCOSUR, the South American trade bloc of which Paraguay is a member.
     
    “India and Paraguay are both important voices of the Global South. We share similar aspirations and challenges. There is immense potential for growth through collaboration in emerging sectors,” said PM Modi.
     
    He further highlighted opportunities to deepen cooperation in tackling cybercrime, organized crime, and drug trafficking.
     
    Upon arrival in New Delhi, President Peña was given a ceremonial Guard of Honour at the Air Force Station in Palam. He later met with External Affairs Minister S. Jaishankar, who said the visit would open new pathways for India’s engagement with Paraguay and the broader Latin American region.
     
    “Appreciate President Peña’s positive sentiments and guidance. Confident his discussions with PM Modi will deepen our cooperation across multiple domains,” Jaishankar posted on X.
     
    The Paraguayan leader also paid floral tribute to Mahatma Gandhi at Rajghat and is scheduled to call on President Droupadi Murmu, who will host a state banquet in his honour.
     
    Paraguay has emerged as a strategic trade partner for India in Latin America. Indian pharmaceutical and automobile companies have established a presence in Paraguay, while Paraguayan firms are increasingly exploring joint ventures in India.
     
    As part of his itinerary, President Peña will travel to Mumbai on Tuesday, where he will meet political leaders, industry representatives, startups, and technology experts, signalling a growing focus on economic and innovation-driven cooperation.
     
    — IANS

  • MIL-OSI USA: Democratic Members call on Appropriators to protect ILAB funding, American workers

    Source: United States House of Representatives – Representative Ilhan Omar (DFL-MN)

    WASHINGTON – Education and Workforce Subcommittee on Workforce Protections Ranking Member Ilhan Omar (D-Minn.), Ways and Means Trade Subcommittee Ranking Member Linda T. Sánchez (D-Calif.), Congresswoman Hillary Scholten (D-Mich.), co-chair of the Child Labor Prevention Task Force and Congressman Steven Horsford (D-Nev.), co-chair of the Labor Caucus, led 68 of their colleagues in calling on the House Appropriations Subcommittee on Labor, Health and Human Services, Education and Related Agencies to protect Bureau of International Labor Affairs (ILAB) funding in fiscal year 2026 funding bill.

    ILAB promotes a fair global playing field for workers in the United States and around the world by enforcing trade commitments, strengthening labor standards and combating international child labor, forced labor and human trafficking.

    “ILAB plays a critical role in helping U.S. workers compete in a global economy,” the members wrote. “No other U.S. government agency has the expertise and mandate to effectively carry out this mission. We urge you to provide no less than the FY25 enacted level for ILAB so the Bureau can continue its mission to improve the working conditions and rights of workers around the world.”

     In addition to Sánchez, Omar, Scholten and Horsford, the letter was signed by Ways and Means Ranking Member Richard E. Neal (D-Mass.) and Representatives Yassamin Ansari (D-Nev.), Gabe Amo (D-R.I.), Nanette Barragán (D-Calif.), Donald Beyer (D-Va.), Brendan Boyle (D-Pa.), Julia Brownley (D-Calif.), Nikki Budzinski (D-Ill.), André Carson (D-Ill.), Greg Casar (D-Texas), Joaquin Castro (D-Texas), Sheila Cherfilus-McCormick (D-Fla.), Judy Chu (D-Calif.), Danny Davis (D-Ill.), Diana DeGette (D-Colo.), Mark DeSaulnier (D-Calif.), Suzi LeVine DelBene (D-Wash.), Lloyd Doggett (D-Texas), Dwight Evans (D-Pa.), Maxwell Frost (D-Fla.), Laura Friedman (D-Calif.), Chuy García (D-Ill), Jimmy Gomez (D-Calif.), Jahana Hayes (D-Conn.), Jared Huffman (D-Calif.), Jonathan Jackson (D-Ill.), Pramila Jayapal (D-Wash.), Hank Johnson (D-Ga.), Sydney Kamlager-Dove (D-Calif.), Robin Kelly (D-Ill.), Raja Krishnamoorthi (D-Ill.), Rick Larsen (D-Wash.), John Larson (D-Conn.), Summer Lee (D-Pa.), Seth Magaziner (D-R.I.), John Mannion (D-N.Y.), Sarah McBride (D-Del.), Morgan McGarvey (D-Ky.), James McGovern (D-Mass.), LaMonica McIver (D-N.C.), Gwen Moore (D-Wisc.), Donald Norcross (D-N.J.), Eleanor Norton (D-D.C.), Alexandria Ocasio-Cortez (D-N.Y.), Johnny Olszewski (D-Md.), Jimmy Panetta (D-Calif.), Ayanna Pressley (D-Mass.), Delia Ramirez (D-Ill.), Janice Schakowsky (D-Ill.), Bradley Schneider (D-Ill.), Mary Gay Scanlon (D-Pa.), Terri Sewell (D-Ala.), Mikie Sherrill (D-N.J.), Lateefah Simon (D-Calif.), Melanie Stansbury (D-N.M.), Haley Stevens (D-Mich.), Thomas Suozzi (D-N.Y.), Mark Takano (D-Calif.), Mike Thompson (D-Calif.), Bennie Thompson (D-Miss.), Rashida Tlaib (D-Mich.), Paul Tonko (D-N.Y.), Nikema Williams (D-Ga.) and Frederica Wilson (D-Fla.).

     Full text of the letter is available is available HERE and follows:

     

    May 22, 2025

     

    The Honorable Robert Aderholt

    Chair

    Subcommittee on Labor, Health and Human Services,

    Education, and Related Agencies

    House Committee on Appropriations

    H-310, The Capitol

    Washington, DC 20515

     

    The Honorable Rosa DeLauro

    Ranking Member

    Subcommittee on Labor, Health and Human Services,

    Education, and Related Agencies

    House Committee on Appropriations

    1036 Longworth House Office Building

    Washington, DC 20515

     

    Dear Chairman Aderholt and Ranking Member DeLauro,

    As the House Appropriations Subcommittee on Labor, Health and Human Services, Education and Related Agencies develops its Fiscal Year (FY) 2026 appropriations bill, we write to ask for your support in funding the Department of Labor (DOL)’s Bureau of International Labor Affairs (ILAB). We request no less than the Fiscal Year 2025 enacted level for ILAB to ensure that it can continue to carry out its congressionally mandated mission. We also urge you to encourage ILAB to continue allocating balanced funding for programs that address labor rights and promote freedom of association, as well as exploitative child labor and forced labor internationally.

    As you know, ILAB’s mission is to promote a fair global playing field for workers in the United States and around the world by enforcing trade commitments, strengthening labor standards, and combating international child labor, forced labor, and human trafficking. ILAB works to ensure that fully enforceable labor standards are at the core of our trade agreements and programs, and that trade partners’ laws and practices align with those commitments. The need to continue increasing these capacities across international supply chains and in workplaces around the world remains evident.

    The Government Accountability Office (GAO) in 2014 found that limited resources have prevented DOL from more proactively monitoring trade partner compliance under 14 U.S. free trade agreements with 20 countries and monitoring of trade preference programs with about 120 countries (GAO 15-160). As a result, GAO found that DOL “systematically monitor[s] and enforce[s] compliance with FTA labor provisions for only a few priority countries.” Moreover, GAO also found that ILAB lacks sufficient capacity to carry out the timely investigation of formal submissions regarding violations of trade agreements. The requested funding aims to continue to remedy the weaknesses identified by GAO and to address the historical imbalance in the allocation of ILAB programming activity.

    We also want to stress our support for ILAB’s work enforcing the USMCA. Through the novel Rapid Response Labor Mechanism (RRM), ILAB has taken labor enforcement actions and worked to ensure compliance of our USMCA partners, especially Mexico, with the commitments of the agreement. Further, ILAB’s labor attaché program is crucial in monitoring working conditions on the ground and ensuring trading partners uphold internationally recognized labor rights and comply with labor-related trade obligations. We hope ILAB will continue to spend at least $30 million annually of USMCA appropriated funds on worker organizing and union capacity building in Mexico. 

    USMCA’s implementing legislation included $180 million for ILAB over four years to support unprecedented reform of the labor justice system in Mexico, worker-focused capacity building, and other implementation efforts in addition to $30 million over eight years for ILAB to monitor compliance with USMCA labor obligations. Given this four-year annual appropriation expired in December 2023 and the increased workload for ILAB expected with the upcoming 2026 USMCA review, we stress the importance of robust funding for ILAB.

    We also reject attempts to cut ILAB’s program funding and reaffirm the critical role that ILAB plays in ensuring our trade relationships strengthen and uphold worker rights around the world. Gutting ILAB does not put America first. It undermines American workers, distorts markets in favor of unscrupulous businesses and regimes, strips our trade and customs officials of critical enforcement tools, and accelerates a global race to the bottom on workers’ rights. ILAB is one of the only U.S. government entities with the infrastructure, expertise, and on-the-ground partnerships necessary to effectively counter forced labor

    ILAB must continue to fulfill the various aspects of mission—enforcing our trade commitments, strengthening labor standards, and combating international child labor, forced labor, and human trafficking. Accordingly, we request inclusion of the following language in the committee report that will accompany the FY 2026 Labor, Health and Human Services, Education, and Related Agencies appropriations bill:

    Of amounts appropriated to the International Labor Affairs Bureau (ILAB), the Secretary is directed that the amount allocated in grants to promote labor rights and freedom of association, and to build the capacity of independent trade unions and countries to enforce labor rights and to promote a more level playing field for U.S. workers shall be at least equal to the amount allocated in grant funding for combatting child labor. ILAB is directed to continue its work on three key reports including DOL’s Findings on the Worst Forms of Child Labor; the List of Goods Produced by Child Labor or Forced Labor; and the List of Products Produced by Forced or Indentured Child Labor.

    ILAB plays a critical role in helping U.S. workers compete in a global economy. No other U.S. government agency has the expertise and mandate to effectively carry out this mission. We urge you to provide no less than the FY25 enacted level for ILAB so the Bureau can continue its mission to improve the working conditions and rights of workers around the world.

    Thank you for your consideration.

    Sincerely,

     ###

    MIL OSI USA News –

  • MIL-OSI Russia: Polytechnic students present development ideas for the Grand Canyon

    Translation. Region: Russian Federal

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    The final defense of projects prepared by students of the Polytechnic University took place in the Grand Canyon. They presented to the customer and received feedback from managers and curators.

    At the beginning of this year, SPbPU and the Grand Canyon development area signed a cooperation agreement. The parties agreed to develop programs that help students obtain relevant knowledge and skills that are in demand in the real sector of the economy.

    The project defense was attended by the creator of the Grand Canyon Mussa Ekzekov, manager Andrey Atamas and the owner’s advisor Larisa Magero. The curators of the student groups were the head of the Project Office Anastasia Bukhtina, the HR Director Ekaterina Kozlova, the manager of the Grand Canyon Hotel Oksana Grishaeva and the deputy chief engineer Sergey Cherepanov.

    It is always useful and important to get a fresh perspective from the outside, especially from young people who are not yet bound by rules and patterns, noted Musa Ekzekov.

    The Polytechnic University was represented by Vice-Rector for Educational Activities Lyudmila Pankova and Associate Professor of the Higher School of Service and Trade Elmira Kutyeva.

    Over the course of three months, student groups and their supervisors developed comprehensive proposals for the development of Grand Canyon. The work was conducted in four areas: marketing research for the shopping center, management of the Grand Canyon Hotel, a product for recording requests from the dispatch group for the real estate group operation unit, and administration of the complex.

    The main result of the internship is that the students applied their knowledge in practice and gained real experience working with a customer.

    The guys are great, they managed to study our work processes in a short period of time and immerse themselves in the specifics of the business, propose and defend their ideas, – shared Anastasia Bukhtina.

    Anastasia Zyablitseva from the Marketing Research team said that she was interested in feeling part of the corporate culture of a big business. The guys are sure that the experience they gained will help them in the future.

    After the presentation defenses, all participants received certificates of appreciation and gift sets.

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

    MIL OSI Russia News –

  • MIL-OSI Europe: Written question – Protecting circular steel production by adopting a legal definition of green steel and amending CBAM – E-002051/2025

    Source: European Parliament

    Question for written answer  E-002051/2025
    to the Commission
    Rule 144
    Flavio Tosi (PPE), Massimiliano Salini (PPE), Letizia Moratti (PPE)

    Presented in March 2025, the EU steel action plan aims to make the European steel industry more competitive, but does not provide a clear definition of the term ‘green steel’. The absence of objective criteria for production processes (their carbon footprint, the type of energy and raw materials they use) makes it impossible to introduce a labelling system that incentivises low-emission processes.

    This legal vacuum is also reflected in the current design of the EU’s Carbon Border Adjustment Mechanism (CBAM), which does not guarantee a level playing field between EU producers and importers. Basing CBAM on the Emissions Trading System’s (ETS) free allocation benchmarks – which unfortunately take into account the process used rather than the product’s actual carbon footprint – will grant seamless access to the European market to third country steel products made using gas and virgin raw materials (DRI-EAF). Such a state of affairs would put the companies that use recycled scrap and renewable energies – which have to buy ETS credits for all their emissions – at a disadvantage.

    In the light of the above:

    • 1.Will the Commission provide a legal basis for green steel that is based on a product’s actual carbon footprint?
    • 2.Will it amend CBAM to prevent any distortions that will harm circular steelmaking processes for flat and long products?
    • 3.How will the Commission push for decarbonised steel to be included in industrial policies and public tenders?

    Submitted: 21.5.2025

    Last updated: 2 June 2025

    MIL OSI Europe News –

  • MIL-OSI: RBC iShares Expands iShares Core Offering with Launch of New ETFs

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 02, 2025 (GLOBE NEWSWIRE) — Today, RBC iShares expands its iShares Core exchange traded fund (ETF) lineup with the launch of two iShares ETFs (each an ‘iShares Fund’ and collectively, the ‘iShares Funds’).

    The iShares Core S&P Total U.S. Stock Market Index ETF (XTOT) will provide investors with broad-based exposure to the total U.S. equity market, covering large-, mid-, small-, and micro-capitalized companies. The iShares Core S&P Total U.S. Stock Market Index ETF will also be available in a U.S.-dollar denominated class (XTOT.U).

    “We are pleased to expand our suite of low-cost, diversified core ETFs with the addition of the iShares Core S&P Total U.S. Stock Market Index ETF. This new ETF offers investors a convenient way to access broad-based exposure to the total U.S. equity market, making investing in global markets easier and more affordable for Canadians,” said Steven Leong, Head of Product at BlackRock Canada.

    The iShares Core Canadian Short-Mid Term Universe Bond Index ETF (XSMB) will provide investors with exposure to a broadly diversified range of Canadian domiciled bonds with maturities between 1 and 10 years, which may include any or all of federal, provincial, corporate (including certain qualifying asset-backed securities) and municipal bonds.

    “Canadians continue to embrace fixed income ETFs as efficient tools for building resilient, well-diversified portfolios. With this launch, we are excited to provide access to a broad portfolio of Canadian government and corporate bonds with 10 years remaining to maturity or less. This exposure allows investors to generate income while offering a source of portfolio stabilization amid volatility,” added Mr. Leong.

    The iShares Funds are listed in the table below and are expected to begin trading on the Toronto Stock Exchange (TSX) today; the iShares Funds are managed by BlackRock Asset Management Canada Limited (BlackRock Canada), an indirect wholly-owned subsidiary of BlackRock, Inc.

    Fund Name Ticker Annual
    Management
    Fee    1
    iShares Core S&P Total U.S. Stock Market Index ETF XTOT,
    XTOT.U    		 0.07%2
    iShares Core Canadian Short-Mid Term Universe Bond Index ETF XSMB 0.15%

    RBC iShares aims to help clients achieve their investment objectives by empowering them to build efficient portfolios and take control of their financial futures. RBC iShares is committed to delivering a truly differentiated ETF experience and positive outcomes for clients.

    For more information about RBC iShares, please visit https://www.rbcishares.com.

    About BlackRock

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

    About iShares

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

    iShares® ETFs are managed by BlackRock Asset Management Canada Limited.

    About RBC
    Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 97,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.

    We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/peopleandplanet.

    About RBC Global Asset Management
    RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC). RBC GAM is a provider of global investment management services and solutions to institutional, high-net-worth and individual investors through separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds and specialty investment strategies. RBC Funds, BlueBay Funds, PH&N Funds and RBC ETFs are offered by RBC Global Asset Management Inc. (RBC GAM Inc.) and distributed through authorized dealers in Canada. The RBC GAM group of companies, which includes RBC GAM Inc. (including PH&N Institutional) manage approximately $710 billion in assets and have approximately 1,600 employees located across Canada, the United States, Europe and Asia.

    RBC iShares ETFs are comprised of RBC ETFs managed by RBC Global Asset Management Inc. and iShares ETFs managed by BlackRock Asset Management Canada Limited. Commissions, trailing commissions, management fees and expenses all may be associated with investing in ETFs. Please read the relevant prospectus before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.

    ® / TM Trademark(s) of Royal Bank of Canada. Used under license. iSHARES is a registered trademark of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. Used under license. © 2025 BlackRock Asset Management Canada Limited and RBC Global Asset Management Inc. All rights reserved.

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

    1 As an annualized percentage of the iShares Fund’s daily net asset value.
    2 If applicable, BlackRock Canada or an affiliate is entitled to receive a fee for acting as manager of each iShares ETF in which this iShares Fund may invest (an “underlying product fee” and together with the management fee payable to BlackRock Canada, the “total annual fee”). As the underlying product fees are embedded in the market value of the iShares ETFs in which this iShares Fund may invest, any underlying product fees are borne indirectly by this iShares Fund. BlackRock Canada will adjust the management fee payable to it by this iShares Fund to ensure that the total annual fees paid directly or indirectly to BlackRock Canada and its affiliates by this iShares Fund will not exceed the percentage of the NAV set out above. The total annual fee is exclusive of HST. Any underlying product fees borne indirectly by this iShares Fund are calculated and accrued daily and are paid not less than annually.

    The MIL Network –

  • MIL-OSI: Global Net Lease Appoints Robert Kauffman as Board Chair

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 02, 2025 (GLOBE NEWSWIRE) — Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”) today announced the appointment of Robert Kauffman as Non-Executive Chairperson of its Board of Directors (the “Board”), effective immediately. Mr. Kauffman succeeds Sue Perrotty, who resigned from her position as Non-Executive Chairperson but will continue to serve on the Board as an independent director.

    Mr. Kauffman, a Co-Founder and former member of the Board of Directors of Fortress Investment Group, joined the GNL Board in March 2024.

    “We are excited that Rob Kauffman has become Chair of our Board at this transformative time for GNL,” said Michael Weil, CEO of GNL. “Since joining the Board, Rob has played an active role in our strategic initiatives – including our multi-tenant asset sale – and has added tremendous value through his extensive real estate and capital markets experience at Fortress, UBS and BlackRock. As we move toward a new era for GNL as a pure-play single-tenant net lease company, which we believe positions us to deliver additional value for shareholders, we look forward to benefiting from his leadership for years to come.”

    “Our entire Board thanks Sue Perrotty for her many years of dedication and leadership as Board Chair through a period of considerable evolution for GNL,” Mr. Weil added.

    “I am honored to step into this new role at such an important time for GNL,” said Mr. Kauffman. “GNL has taken significant steps over the last year to streamline its portfolio, strengthen its balance sheet, and enhance financial flexibility. I look forward to continuing to work closely with my fellow directors and GNL’s seasoned management team to capitalize on our strong momentum.”

    About Global Net Lease, Inc.

    Global Net Lease, Inc. (NYSE: GNL) is a publicly traded internally managed real estate investment trust that focuses on acquiring and managing a global portfolio of income producing net lease assets across the U.S., and Western and Northern Europe. Additional information about GNL can be found on its website at www.globalnetlease.com. 

    Important Notice

    The statements in this press release that are not historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. The words such as “may,” “will,” “seeks,” “anticipates,” “believes,” “expects,” “estimates,” “projects,” “potential,” “predicts,” “plans,” “intends,” “would,” “could,” “should” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the risks that any potential future acquisition or disposition (including the proposed closing of the encumbered properties portion of the multi-tenant portfolio) by the Company is subject to market conditions, capital availability and timing considerations and may not be identified or completed on favorable terms, or at all. Some of the risks and uncertainties, although not all risks and uncertainties, that could cause the Company’s actual results to differ materially from those presented in the Company’s forward-looking statements are set forth in the “Risk Factors” and “Quantitative and Qualitative Disclosures about Market Risk” sections in the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and all of its other filings with the U.S. Securities and Exchange Commission, as such risks, uncertainties and other important factors may be updated from time to time in the Company’s subsequent reports. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.

    Contacts:
    Investor Relations
    Email: investorrelations@globalnetlease.com
    Phone: (332) 265-2020

    The MIL Network –

  • India, Oman close to finalizing free trade agreement: Piyush Goyal

    Source: Government of India

    Source: Government of India (4)

    India is nearing the conclusion of a Free Trade Agreement (FTA) with Oman, with Commerce and Industry Minister Piyush Goyal indicating that an announcement could be made soon. The move is expected to significantly boost bilateral trade and investment flows between the two countries.

    “I think you will see some good news very soon on the Oman FTA,” Goyal told journalists during his ongoing official visit to France, where he is promoting Indian trade and investment interests. He is also scheduled to attend a ministerial meeting of the World Trade Organization (WTO) on Tuesday.

    Negotiations for the proposed India-Oman Comprehensive Economic Partnership Agreement (CEPA) began in November 2023. Goyal’s visit to Oman in late January 2025, where he co-chaired the 11th session of the India-Oman Joint Commission Meeting with Qais bin Mohammed Al Yousef, Oman’s Minister of Commerce, Industry, and Investment Promotion, marked a key step in advancing the talks.

    During the high-level meeting, both ministers reviewed bilateral relations and held in-depth discussions on cooperation in areas such as trade, investment, technology, food security, and renewable energy. They agreed to accelerate negotiations for the CEPA, with the aim of signing the agreement at the earliest.

    Describing the CEPA as a potential milestone in India-Oman relations, officials said the pact could significantly expand two-way trade and investments.

    Oman is India’s third-largest export destination among Gulf Cooperation Council (GCC) nations. In 2024-25, bilateral trade between the two countries stood at approximately USD 10.5 billion, with Indian exports worth USD 4 billion and imports valued at USD 6.54 billion.

    (With IANS inputs)

  • MIL-Evening Report: Will surging sea levels kill the Great Barrier Reef? Ancient coral fossils may hold the answer

    Source: The Conversation (Au and NZ) – By Jody Webster, Professor of Marine Geoscience, University of Sydney

    marcobriviophoto.com

    In the 20th century, global sea level rose faster than at any other time in the past 3,000 years. It’s expected to rise even further by 2100, as human-induced climate change intensifies. In fact, some studies predict a rise of up to 1.6 metres and possibly more due to the rapid melting of the Antarctic ice sheets.

    These changes will have huge impacts on coastal ecosystems around the world, including coral reefs. To understand these future impacts, it can be useful to understand similar events from history.

    Our new research, published today in Nature Communications, does just that. It reveals how the Great Barrier Reef in northern Australia responded to a dramatic rise in sea level some 13,000 to 10,000 years ago.

    A hotly debated event

    Several “meltwater pulse events” have been documented in the past. These occur when ice sheets disintegrate in a catastrophic fashion, resulting in a rapid surge in global sea levels.

    One of these events, known as “meltwater pulse 1B”, remains hotly debated. It occurred roughly 11,500 years ago.

    Early evidence from reef cores in Barbados suggested a sharp sea-level rise of approximately 14 metres between 11,450 and 11,100 years ago, with rates of roughly 40 millimetres per year.

    Remarkably, this rate is about ten times faster than the current global rise.

    However, this record conflicts with others, including from Tahiti and now from the Great Barrier Reef, which suggests a more gradual rise in sea levels.

    Learning from geological archives

    Somewhat paradoxically shallow-water reef systems can “drown” because corals, and other reef organisms, depend on light for photosynthesis. If the water gets too deep too fast, the reef will no longer keep up with the rise and it will drown.

    But drowning can also occur due to other factors, such as increased temperature, sediment and nutrients, which can also add extra environmental stress to the reef – again making it more difficult to grow vertically and keep up with sea level rise.

    Cores gathered from drowned fossil coral reefs preserved along the continental shelf edge of the Great Barrier Reef contain crucial information about historic corals, coralline algae and microbial reef structures known as microbialites. They offer a unique geologic time machine to better understand how past periods of rapid global sea level rise affected reef growth.

    These geological archives also provide important clues about how ice sheets behaved in response to rapid global warming.

    In 2010, an expedition of the Integrated Ocean Drilling Program used a geotechnical drill ship to sample below the seafloor and reconstruct the growth and demise of the Great Barrier Reef over the past roughly 30,000 years. Five distinct stages were identified in response to major global climatic and oceanographic disturbances.

    In this new study, we focused on a key reef stage called Reef 4. It formed between 13,000 and 10,000 years ago, just prior to the start of the modern reef as we know it.

    We refer to this reef as the “proto-Great Barrier Reef”. Once a shallow-water barrier reef system, it now exists in a fossilised form at roughly 50 metres water depth and is now the home to deeper reef communtites in the mesophotic zone 30 to 150 metres below the surface.

    The RV Great Ship Maya was used to recover fossil reef samples from the Great Barrier Reef in 2010.
    G.Tulloch/European Consortium for Ocean Research Drilling/Integrated Ocean Drilling Program

    An impressive ability to keep pace

    Our study shows the Great Barrier Reef didn’t drown during meltwater pulse 1B. In fact, it continued to thrive with clear evidence of healthy, shallow-water reef assemblages (living in waters less than ten metres deep) persisting right through the rise in sea levels.

    The reef not only survived but continued to grow upwards at rates between 4–6 millimetres per year. This rate of growth is comparable to modern healthy reef growth rates, demonstrating an impressive ability to keep pace.

    We also calculated that the maximum possible sea-level rise during meltwater pulse 1B was between 7.7 and 10.2 metres over roughly 350 years. This equates to between 23 and 30 millimetres per year, but was likely less.

    This is less than the Barbados estimate, and more consistent with observations from Tahiti where no sharp sea-level jump was found.

    Importantly, this indicates that even the upper sea level rise bounds are within the survival limits of resilient reef systems such as the Great Barrier Reef – especially when environmental stressors, such as ocean warming, ocean acidification and sedimentation are low.

    UNESCO’s World Heritage Committee recently expressed utmost concern about the current state of the Great Barrier Reef.
    Darkydoors/Shutterstock

    Limits to a reef’s resilience

    Although the Great Barrier Reef survived sea level rise roughly 11,000 years ago, the world was very different back then.

    Coral reefs faced less stress from human impacts. And ocean temperatures were rising more slowly.

    But today’s reefs are already struggling, with UNESCO’s World Heritage Committee recently expressing “utmost concern” about the state of the Great Barrier Reef in particular.

    This is due to warming, acidification and pollution. And these additional challenges decrease reefs’ ability to cope with rapid sea-level rise.

    Our findings suggest abrupt sea-level jumps of more than 11 metres are unlikely to occur without major instabilities in ice sheets. The fact that such collapses likely didn’t happen during meltwater pulse 1B offers some reassurance. But we’re in uncharted territory now, particularly with the Antarctic ice sheet displaying early signs of instability.

    Our study also shows the Great Barrier Reef has been remarkably resilient, adapting to changing sea levels and continuing to grow even as the ocean rose rapidly. This resilience, however, had limits. Ultimately, the reef we examined drowned roughly 10,000 years ago, likely due to a combination of environmental stressors, including increased sediment flux. At this time the shallow water reef ecosystem migrated landward to form the modern Great Barrier, leaving behind only deeper, mesophotic reef communities.

    The lessons from the past are clear: reefs can adapt to environmental changes but there are limits.

    Protecting modern reefs will require more than understanding their past. It means reducing emissions and limiting other environmental stresses such as sediment and nutrient runoff where possible.

    Jody Webster receives funding from the Australian Research Council and ANZIC IODP.

    Juan Carlos Braga receives funding from the Australian Research Council and Spanish Government.

    Marc Humblet receives funding from the Japan Society for the Promotion of Science.

    Stewart Fallon receives funding from the Australian Research Council and ANZIC IODP.

    Yusuke Yokoyama receives funding from the Japan Society for the Promotion of Science and Japan Science and Technology Agency.

    – ref. Will surging sea levels kill the Great Barrier Reef? Ancient coral fossils may hold the answer – https://theconversation.com/will-surging-sea-levels-kill-the-great-barrier-reef-ancient-coral-fossils-may-hold-the-answer-257830

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Asia-Pac: Professional Services Advancement Support Scheme invites new round of applications

    Source: Hong Kong Government special administrative region

    Professional Services Advancement Support Scheme invites new round of applicationsIssued at HKT 16:00

    The Main Programme under the Professional Services Advancement Support Scheme (PASS) is inviting a new round of applications for project proposals starting today (June 1) from non-profit-distributing organisations such as professional bodies, trade and industrial organisations and research institutes.

    PASS, with a total allocation of $200 million, aims at funding non-profit-making industry-led projects to increase exchanges and co-operation between Hong Kong’s professional services and external counterparts, promote relevant publicity activities, and enhance the standards and external competitiveness of Hong Kong’s professional services.

    The maximum grant for each approved project under the Main Programme of PASS is $3 million or 90 per cent of the total eligible project cost, whichever is lower. A wide range of professional services, such as accounting, legal and dispute resolution, architecture, engineering, healthcare, information and communications technology, design and technical testing and analysis, are eligible for the Main Programme. Sector-specific projects and cross-sectoral projects are both welcome. Expenses directly incurred for implementing a project, such as manpower costs, venue and set-up costs, production and promotion costs, and the project team and active participants’ travel and accommodation costs outside Hong Kong are typically eligible for funding support under the Scheme. Funding support may also be provided for travel and accommodation costs incurred by participants of relatively longer professional internships or attachment programmes outside Hong Kong which are funded by the Main Programme.

    Up to early May 2025, more than 120 projects had been funded under the Main Programme, including project deliverables in and outside Hong Kong. The deliverables include capacity-building programmes for enhancing the standards of local professionals, such as training programmes, workshops and study tours; outreach and promotional activities for showcasing the strengths of Hong Kong’s professional services, such as roadshows, promotional seminars and participation in exhibitions outside Hong Kong; exchange activities for deepening interaction between Hong Kong professionals and their external counterparts, such as visits to other economies and international conferences and seminars held in Hong Kong; and research projects on potential external markets for Hong Kong professional services and development of best practice guidelines and manuals for professionals. Details about the Main Programme and its funded projects are available at www.pass.gov.hk/main/en/home.

    Furthermore, with a view to stepping up the promotion of Hong Kong’s competitive edges and professional services to the Mainland and overseas markets, $50 million has been set aside for the Professionals Participation Subsidy Programme (PSP) under PASS to subsidise Hong Kong major professional bodies to participate in relevant activities organised by the Government (such as Hong Kong Economic and Trade Offices) and the Hong Kong Trade Development Council after the pandemic situation has stabilised. Details of the PSP and its list of activities are available at www.pass.gov.hk/psp. Hong Kong professionals from the eligible professional sectors under PASS may make use of the PSP subsidy to join the relevant activities.

    The Main Programme and the PSP receive applications for project and activity proposals all year round and they are processed on a quarterly basis. The deadline for the new round of applications is August 31, 2025. A briefing session will be held this month for organisations interested in applying for the PASS funding. One-on-one consultations are also available upon request for discussing preliminary project ideas or projects in the planning stage. To register for the briefing session, schedule a consultation, or for other enquiries, please contact the PASS Secretariat at 3655 5418 or pass@cedb.gov.hk.

    Ends/Sunday, June 1, 2025
    Issued at HKT 16:00

    MIL OSI Asia Pacific News –

  • MIL-OSI China: China’s westernmost border port goes 24/7 to boost Central Asia trade

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

    The Irkeshtam port in northwest China’s Xinjiang Uygur Autonomous Region launched a trial of 24-hour freight clearance operations on Sunday, making it the second land port in the region and the first in southern Xinjiang to adopt such a system. This move is aimed at enhancing trade logistics between China and Central Asia, according to the local immigration inspection station.

    As China’s westernmost land port, Irkeshtam serves as a critical gateway to Kyrgyzstan and a hub for Central and West Asia, with rising cross-border activity and robust transport demand.

    To support the round-the-clock operations, the Irkeshtam immigration inspection station optimized staffing through shift rotations and implemented “on-arrival inspection” for freight vehicles, which strikes a balance between security and efficiency.

    Jiang Zhidong, chairman of the Kashgar-based Xinjiang Jiujiuxi International Trade Co., Ltd., said that the system will significantly boost cargo efficiency, cut logistics costs, further energize port operations and unleash foreign trade potential.

    Statistics show that port traffic has surged this year at Irkeshtam, with the station handling over 105,800 trips and 98,500 vehicles by Sunday, up 80 percent and 79 percent year on year, respectively. 

    MIL OSI China News –

  • MIL-OSI China: Uzbekistan finalizes WTO accession talks with Britain

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

    Uzbekistan has finalized World Trade Organization (WTO) accession talks with Britain, Azizbek Urunov, special representative of the president of Uzbekistan on WTO issues, said on Saturday.

    Urunov announced the completion of bilateral negotiations with Britain on LinkedIn. “Since then we have gone through internal procedures to sign the Protocol on the margins of the 10th Working Party meeting in Geneva on June 12, 2025,” he wrote.

    Britain is the 24th country to finish bilateral market access negotiations with Uzbekistan, he added, noting that “a few more WTO members are left for the entire completion of bilaterals.”

    According to his press office, Uzbek President Shavkat Mirziyoyev on May 14 reviewed Uzbekistan’s efforts and gave specific instructions to accelerate and systematically organize the accession process.

    “As part of the bilateral track, negotiations have been held with 33 countries on market access, of which talks with 24 countries have already been successfully concluded,” the press service said. 

    MIL OSI China News –

  • MIL-OSI Europe: Strengthening Personal Data Protection Across Kyrgyzstan: Over 1,000 Officials Trained with OSCE Support

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: Strengthening Personal Data Protection Across Kyrgyzstan: Over 1,000 Officials Trained with OSCE Support

    Participants during the training on Enhancing Personal Data Protection. (OSCE) Photo details

    The OSCE Programme Office in Bishkek, in close partnership with the State Agency for Personal Data Protection under the Cabinet of Ministers of the Kyrgyz Republic, has helped raise national awareness and improve institutional knowledge in the field of personal data protection.
    Over the past three years, more than 1,000 public and municipal officials across the country have taken part in these efforts. Participants included representatives of local governments, district administrations, mayor’s offices, healthcare and education institutions, and school management bodies.
    The training sessions focused on:

    Understanding national laws on personal data protection
    Learning practical methods for secure data management
    Preventing data leaks and cyber threats

    As Kyrgyzstan continues to expand digital services, protecting sensitive information has become more important than ever. The rise of cybercrime and digital fraud means that both institutions and citizens face greater risks. That’s why building the capacity of public officials to handle data responsibly is essential for protecting privacy, increasing trust in digital tools, and boosting the country’s digital resilience.
    Participants also learned about:

    The national Register of Personal Data Holders (developed with OSCE support)
    Safe internet use and basic cyber hygiene
    Privacy protection in public service delivery
    Key elements of the draft Digital Code of the Kyrgyz Republic

    Importantly, the initiative promoted inclusive participation — with more than 50% of trainees being women, reflecting the OSCE’s commitment to gender equality in all its capacity-building efforts.
    This work forms part of the OSCE’s wider support to good governance, digital security, and the protection of individual rights in the Kyrgyz Republic.

    MIL OSI Europe News –

  • MIL-OSI Russia: Today, NSU opened an internship program for foreign specialists in the field of engineering InteRussia

    Translation. Region: Russian Federal

    Source: Novosibirsk State University – Novosibirsk State University –

    Today, June 2, NSU hosted the grand opening of the InteRussia 2025 internship program for foreign specialists. This is the second internship of this kind that is taking place at Novosibirsk State University. This time, 17 students from 14 countries, such as Chile, Jordan, India, Pakistan, Brazil, Albania, Serbia, Bangladesh, Turkmenistan, Belarus, Indonesia, Ecuador, Uzbekistan and Tanzania, came to NSU.

    The internship is conducted by the Gorchakov Fund, the Siberian Branch of the Russian Academy of Sciences, and the ANO “Mezhdunarodniki” with the support of the Directorate of the World Youth Festival and the Presidential Grants Fund.

    For a month — from June 2 to June 29 — young researchers will be trained at the university in the promising areas of “Artificial Intelligence and Medicine” and “Modern Quantum and Information Technologies in Electronics and Photonics”. The school participants will work in one of two groups in accordance with the chosen area. The event will result in the preparation and presentation of their own scientific project.

    — We are organizing the internship for the second time, but we already see that our program is in great demand — this year, more than 160 applications were submitted, so the competition was almost 10 people per place. As a result, the best students who passed a tough and competitive selection came here. This year, we decided to make only two directions, and not three, as it was a year ago. We left the direction “Artificial Intelligence and Medicine”, since the 2024 internship showed that this topic is very interesting and in demand. We also added a new promising direction related to quantum mechanics. Among other innovations, we increased the duration of the internship from three to four weeks, — said Evgeny Sagaydak, Head of the Education Export Department at NSU.

    Artur Pogosov, Professor of the Department of Semiconductor Physics, Faculty of Physics, NSU, Head of the Department of General Physics Physics Department of NSU, in his welcoming speech to the participants, he spoke a little about the specifics of Akademgorodok and the special atmosphere that characterizes this unique place. He also spoke in more detail about the program of the direction that he supervises – “Modern quantum and information technologies in electronics and photonics”. It will include both lectures from scientists of the SB RAS Research Institute and NSU teachers, and practical computer sessions, during which, using special computational and modeling methods, listeners will be able to delve deeper into quantum mechanics, explore new crystals and new compounds, and model the processes occurring in them.

    Evgeny Pavlovsky, Head of the Laboratory of Streaming Data Analytics and Machine Learning Faculty of Mechanics and Mathematics of NSU and head of the Artificial Intelligence and Medicine department, noted that the students will have the opportunity not only to expand their knowledge, but also to present their projects, since one of the school’s goals is to ensure that the participants continue their research after completing their internship.

    The audience of the program was greeted by the leading specialist of the A.M. Gorchakov Public Diplomacy Support Fund Ilya Demkin. He thanked the partners for their cooperation, spoke about the activities of the Fund and about the internship program for foreign specialists in various fields of InteRussia. In addition, he noted that for the audience, participation in this event is an excellent opportunity to gain new knowledge in one of the best Russian universities, take thematic courses from leading experts, take part in innovative professional master classes in one of two areas, and exchange experience with colleagues from different countries.

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Chief adviser to Bangladesh caretaker government urges Chinese investors to make the country their home and manufacturing hub

    Translation. Region: Russian Federal

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

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

    DHAKA, June 2 (Xinhua) — Chief Adviser to Bangladesh’s Caretaker Government Muhammad Yunus on Sunday called on Chinese investors to make the country their homeland and manufacturing hub.

    Speaking at the China-Bangladesh Investment and Trade Conference, M. Yunus said Chinese companies are masters of manufacturing and Bangladesh wants to be their partner.

    According to him, the interim government of Bangladesh is consistently implementing reforms, improving the investment climate, streamlining the legal framework and providing favorable conditions for business activities.

    M. Yunus suggested that Chinese investors explore the vast opportunities that Bangladesh offers in textile, pharmaceutical, food and agro-processing, fisheries and information technology.

    The conference was attended by more than 400 representatives from Chinese and Bangladeshi enterprises and business associations. –0–

    MIL OSI Russia News –

  • MIL-OSI Africa: African Petroleum Producers Organization (APPO) Secretary General Joins Angola Oil & Gas (AOG) 2025 Ahead of Energy Bank Launch

    Source: Africa Press Organisation – English (2) – Report:

    CAPE TOWN, South Africa, June 2, 2025/APO Group/ —

    Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers Organization (APPO), will speak at this year’s edition of the Angola Oil & Gas (AOG) conference – the country’s premier industry event, scheduled for September 3-4 in Luanda. Ibrahim’s return to the conference reflects his commitment to supporting oil and gas projects in the country and comes as the organization prepares to launch the Africa Energy Bank (AEB) – a financial institution created in partnership with the African Export-Import Bank (Afreximbank). 

    Established with the aim of improving access to financing for African oil and gas projects, the AEB is on track to commence operations in June 2025, with the finalization of key arrangements made in April 2025. Headquartered in Abuja, Nigeria, the bank will have an initial capitalization of $5 billion, supported by an $83 million commitment made by each APPO member state. As of March 2025, three member countries – Angola, Nigeria and Ghana – had contributed, reflecting the support from some of Africa’s biggest oil and gas producers. At AOG 2025, Ibrahim is set to share insight into the role the institution will play in markets such as Angola and how improved financing can support regional fuel security.

    AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

    As sub-Saharan Africa’s second largest oil producer, Angola strives to sustain oil production above one million barrels per day beyond 2027. In tandem, the country aims to bolster gas monetization, with its first non-associated gas project – led by the New Gas Consortium – coming online in late-2025 or early-2026. Through a multi-year strategy, improved fiscals and an upcoming Gas Master Plan, the country is incentivizing spending across the entire oil and gas value chain. The AEB will support these goals by offering project developers the requisite financing to accelerate exploration, production and project development.

    Operating as a development finance institution, the AEB will focus on Africa. The bank will have three classes of shareholders, with Class A featuring founding countries, APPO member states and Afreximbank; Class B consisting of other African countries, alongside their national oil companies; and Class C being reserved for individual and corporate investors outside of the continent. This structure offers access to a wide investment pool and reflects the drive by APPO and Afreximbank to support African oil and gas developments. AOG 2025 offers a strategic platform for project developers in Angola to gain insight into financing opportunities made possible through the AEB. Ibrahim’s participation will not only provide a greater understanding of the role the bank can play in the country but foster dealmaking in Angola as companies seek new financing mechanisms to expand their portfolios.

    MIL OSI Africa –

  • MIL-OSI Africa: African Mining Week to Highlight Coal’s Role in Regional Energy Security, Industrialization

    Source: Africa Press Organisation – English (2) – Report:

    CAPE TOWN, South Africa, June 2, 2025/APO Group/ —

    As Africa leverages coal to drive industrialization and support sustainable development, African Mining Week (AMW) – the continent’s premier platform for mining stakeholders – will highlight investment opportunities within the coal sector. Scheduled for October 1–3, 2025 in Cape Town, the event will unite project developers, investors, policymakers and technology providers to advance coal-focused deals and partnerships.

    A dedicated panel discussion, “Coal’s Indispensable Role: Powering Africa’s Downstream Processing and Manufacturing Boom,” will explore how coal contributes to energy security, economic growth and job creation across the continent.

    Coal remains a critical driver of energy security in Africa. The continent is expected to increase coal use by 6 million tons to 191 million tons per annum by 2027 under efforts to enhance the resilience of the electricity network, according to the International Energy Agency. In South Africa – Africa’s largest producer and the world’s sixth – the coal sector has been crucial in addressing load shedding, with a 7% increase in coal use in 2023 and 2024 strengthening the grid. On the global stage, African coal also plays an important role, accounting for over 3.5% of the world’s total production, with producers such as Mozambique, Zimbabwe, Zambia and Botswana kickstarting new projects and optimizing existing assets. South Africa exports 28% of its coal production and ranks as the world’s fourth largest coal exporting market.

    Glencore increased its South African coal production by 5% in Q1 2025 compared to the same period last year, reaching 4.2 million tons. In March 2025, Seriti Resources inaugurated the R500 million Naudesbank Colliery in Mpumalanga province, shortly after coal was designated a critical mineral by South Africa’s Ministry of Mineral and Petroleum Resources. Meanwhile, Canyon Coal is preparing to break ground on the R1.5 billion Sukuma Mine, targeting 7.2 million tons of annual output. In Zimbabwe, Contago Holdings’ Muchesu project – backed by Huo Investments – is ramping up production to meet both domestic and export demand.

    Recognizing coal’s strategic importance in shaping a just and inclusive energy transition and economic diversification, global public and private sector players are ramping up investment. In a landmark policy reversal in May 2025, the U.S. Export-Import Bank lifted its ban on financing overseas coal projects, opening new channels for international funding for African projects. South Africa’s Exxaro and Eskom have entered into a joint agreement to invest in emissions reduction technologies, supporting cleaner coal usage aligned with just energy transition objectives. In Mpumalanga, Blue Ammonia Production is progressing with its R31.5 billion Suiso Coal-to-Fertilizer project, poised to create 4,000 jobs and enhance regional agricultural productivity. Botswana is similarly advancing a $2.5 billion coal-to-liquids plant, designed to strengthen the country’s energy and fuel security. With African coal producers generating substantial revenue from coal exports, the industry will be crucial in funding the continent’s renewable energy deployment and energy mix diversification, facilitating a just and inclusive energy transition

    African Mining Week 2025 will serve as a strategic platform to explore these developments and examine coal’s evolving role in Africa’s industrial future. The event will place a strong emphasis on sustainable coal practices that balance development with environmental stewardship and long-term transition goals.

    African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

    MIL OSI Africa –

  • MIL-OSI Russia: Uzbekistan and the UK have completed bilateral negotiations on WTO accession

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    Tashkent, June 2 /Xinhua/ — Uzbekistan and the United Kingdom have completed bilateral negotiations on joining the WTO, the UzDaily.uz news portal reported on Sunday, citing the words of Uzbekistan’s chief negotiator Azizbek Urunov.

    “At the end of last month, we were in London to hold bilateral talks with the British side. Now I am happy to announce their completion,” A. Urunov noted. According to him, after returning to Tashkent, the Uzbek delegation carried out all the necessary internal procedures.

    It is noted that the UK has become the 24th country with which Uzbekistan has completed bilateral negotiations on market access.

    According to him, negotiations still need to be held with several WTO member countries to complete the entire process of bilateral agreements. The agreement reached with the UK is considered a significant step forward in the overall process of Uzbekistan’s accession to the international trading system. –0–

    MIL OSI Russia News –

  • MIL-OSI: DNO Contemplates Hybrid Bond Issue

    Source: GlobeNewswire (MIL-OSI)

    2 June 2025 – DNO ASA, the Norwegian oil and gas operator, today announced it has engaged Arctic Securities AS, DNB Carnegie (a part of DNB Bank ASA) and Pareto Securities AS as Joint Bookrunners to arrange fixed income investor meetings. Subject to inter alia market conditions and acceptable terms, a new subordinated hybrid bond issue may follow.

    –

    For further information, please contact:
    Media: media@dno.no
    Investors: investor.relations@dno.no

    –

    DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d’Ivoire and Yemen. More information is available at www.dno.no.

    This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange notice was published by Jostein Løvås, DNO ASA Communication Manager, on the time and date set out above.

    The MIL Network –

  • MIL-OSI: BW Offshore: First quarter results 2025

    Source: GlobeNewswire (MIL-OSI)

    First quarter results 2025

    HIGHLIGHTS

    • Q1 EBITDA USD of 91 million and operating cashflow of USD 57 million
    • Sale of BW Pioneer for USD 125 million
    • Received USD 36 million arbitration settlement in April, USD 21 million recognised in EBITDA
    • Robust balance sheet with an equity ratio of 30.9% and USD 542 million in available liquidity
    • Q1 cash dividend of USD 0.063 per share
    • BW Opal departed the shipyard in Singapore 28 May
    • Full-year 2025 EBITDA guidance maintained in the range of USD 220-250 million

    BW Offshore is nearing completion of the Barossa project well within the updated budget. On 28 May, the FPSO BW Opal departed the shipyard in Singapore and is currently enroute to the field where hook-up and connection will be undertaken. The FPSO is on track for first gas within the third quarter.

    The Board of Directors has declared a quarterly cash dividend of USD 0.063 per share. The shares will trade ex-dividend from 4 June 2025. Shareholders recorded in VPS following the close of trading on Oslo Børs on 3 June 2025, will be entitled to the distribution payable on or around 12 June 2025.

    “The BW Opal is on its way to the Barossa field to start producing gas under the 15-year contract, providing material earnings and cash flow to BW Offshore from later this year,” said Marco Beenen, CEO of BW Offshore. “At the same time, we continue to mature selected potential FPSO projects that meet our criteria, with solid counterparties and long-term investment horizons. Our growth strategy is supported by a strong balance sheet, high commercial uptime and robust cash generation from the existing fleet.”

    In late March, the Company completed the sale of FPSO BW Pioneer to Murphy Oil for USD 125 million and received an initial USD 100 million of the proceeds. The remaining USD 25 million was received in the second quarter upon meeting all conditions precedent. The two parties signed a five-year O&M contract, under which BW Offshore will continue to provide operations and maintenance services.

    In early April, BW Offshore received approximately USD 36 million including interest, after settling the arbitration with PRIO (formerly Petrorio) related to the FPSO Polvo lease dispute. This led to the recognition of USD 21 million of additional revenue and EBITDA in the first quarter accounts.

    FINANCIALS
    EBITDA for the first quarter of 2025 was USD 91.3 million (USD 71.9 million in Q4 2024), reflecting good operational performance and the arbitration settlement with PRIO.

    EBIT for the first quarter was USD 73.7 million (USD 30.8 million).

    Gain from sale of fixed assets was USD 14.8 million and relates to the sale of BW Pioneer.

    Net financial items were positive at USD 10.4 million (USD 19.4 million in Q4 2024). This included a net interest income of USD 1.1 million, which reflects USD 4.1 million of interest earned on the arbitration settlement with PRIO (net interest expense of USD 3.0 million). Both first quarter 2025 and fourth quarter 2024 were positively impacted by a valuation gain on the financial liability related to the Barossa project. This was driven by changes in the timing of expected future cash flows due to a later planned start-up of the facility, as well as a favourable mark-to-market adjustment on interest rate hedges.

    The share of loss from equity-accounted investments was USD 4.6 million, including a valuation adjustment on the Barossa finance receivable related to changes in timing of future expected cash flows (loss of USD 9.5 million).

    Tax expense was USD 17.3 million (tax income USD 0.1 million). The increase in tax expenses is mainly due to tax on the sale of BW Pioneer.

    Net profit for the first quarter increased to USD 62.2 million (USD 40.8 million).

    Total equity at 31 March 2025 was USD 1 271.7 million (USD 1 246.6 million) and the equity ratio was 30.9% at (30.8%).

    As a result of strong cash generation from the fleet and asset sales, the Company was net cash positive by USD 184.3 million at 31 March 2025 (USD 74.4 million net cash positive at the end of 2024).

    Available liquidity was USD 542 million, excluding consolidated cash from BW Ideol and including USD 100 million available under the corporate loan facility.

    FPSO OPERATIONS
    The FPSO fleet continued to deliver stable operations in the quarter with a weighted average fleet uptime of 100.0% (99.2% in the fourth quarter), including BW Pioneer.

    BW Adolo contributed positively through the volume-based tariff as production increased to approximately 39,000 barrels per day in the quarter and BW Catcher continued to maintain high commercial uptime.

    On 20 May 2025, BW Energy Gabon took over operations of the FPSO BW Adolo. BW Offshore continues to lease the unit under the same terms, excluding O&M services. A USD 100 million put-and-call option remains in place for 2028. The transition is ongoing and will be supported by both parties through 30 June 2025.

    FPSO PROJECT OPPORTUNITIES
    In January, BW Offshore was selected to perform the pre-FEED study for the Bay du Nord FPSO project by Equinor.

    The Company also progressed the FEED for Repsol’s Block 29 development in Mexico.

    Due to the current high activity related to FPSO-based development projects, BW Offshore recently acquired the FPSO Nganhurra. The vessel has a high-quality hull, well suited for installation of a new topside. Reusing existing energy production infrastructure reduces environmental impact, is cost efficient and enables shorter lead time from project sanction to first oil. The acquisition involves a limited upfront payment, with additional consideration linked to redeployment by June 2027. The unit enhances BW Offshore’s ability to respond to emerging project opportunities and strengthens its position in a supply-constrained market.

    FLOATING ENERGY TRANSITION SOLUTIONS
    BW Offshore is committed to contribute to the energy transition by leveraging FPSO expertise to deliver low-carbon energy and expand into new sectors, focusing on low-emission oil and gas, CO2 transport, gas-to-power and floating ammonia to meet evolving energy demands. The Company maintains a disciplined approach with selective and diligent allocation of capital and a commitment to creating shareholder value.

    BW Offshore owns 64% of BW Ideol, a leader in offshore floating wind technology and co-development with over 14 years of experience in the development of floating wind projects. A shareholder loan of EUR 6.7 million has been provided to support the company’s operations over the next 12 months.

    The 1 GW Buchan offshore wind project in Scotland recently held its third and final public consulting round as part of the preparation for the final consent application later this year. In France, work continued on the three floating substructures for the Eolmed floating wind pilot with installation of the transition pieces which will hold the wind turbines. Commissioning of the three floating turbines is expected by end of 2025.

    OUTLOOK
    Growing energy demand continues to drive interest in developing new infrastructure-type FPSO projects with long production profiles, low break-even costs, and a focus on lower emissions. Increased project complexity, combined with higher construction costs, necessitates financial structures with significant day rate prepayments during the construction period for new lease and operate projects. Alternatively, oil and gas majors may finance and own FPSOs, relying on FPSO specialists for the design, construction and installation scope, combined with operation and maintenance services. BW Offshore is well positioned to offer both solutions.

    In recent years, the number of sanctioned FPSO projects have lagged market expectations. Consequently, there is a growing number of projects at various stages of maturity, reflecting a pent-up demand for FPSOs. Increased FEED and tendering activity are a function of this, and BW Offshore expects that a number of the FPSO projects the Company is engaging with will reach a final investment decision over the next 36 months. These market dynamics, combined with the high level of expertise required for project execution, are expected to enable better risk-reward and improved margins for FPSO companies going forward.

    BW Offshore continues to selectively evaluate new projects that meet required return targets, offer contracts with no residual value risk after firm period, and provide a financeable structure with strong national or investment-grade counterparties.

    BW Offshore expects that the fleet will continue to generate significant cash flows in the time ahead, supported by the USD 5.4 billion firm contract backlog at the end of March 2025.

    Please see attached the Q1 Presentation. The earnings tables are available at:

    https://www.bwoffshore.com/ir/

    BW Offshore will host a webcast of the financial results 09:00 (CEST) today. The presentation will be given by CEO Marco Beenen and CFO Ståle Andreassen.

    Webcast information:
    You can follow the presentation via webcast with supporting slides and a Q&A module, available on:

    BW Offshore Limited – Q1 Presentation Webcast

    Please note, that if you follow the webcast via the above URL, you will experience a 30 second delay compared to the main conference call. The web page works best in an updated browser – Chrome is recommended.

    For further information, please contact:
    Ståle Andreassen, CFO, +47 91 71 86 55
    IR@bwoffshore.com or www.bwoffshore.com

    About BW Offshore:
    BW Offshore engineers innovative floating production solutions. The Company has a fleet of FPSOs with potential and ambition to grow. By leveraging four decades of offshore operations and project execution, the Company creates tailored offshore energy solutions for evolving markets world-wide. BW Offshore has around 1,100 employees and is publicly listed on the Oslo stock exchange.

    This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

    Attachment

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