NewzIntel.com

Category: Trade

  • MIL-OSI USA: PHOTOS: Peters Tours Walker Tool & Die in Grand Rapids to Discuss Impact of Trump’s Tariffs with West Michigan Manufacturers

    US Senate News:

    Source: United States Senator for Michigan Gary Peters
    GRAND RAPIDS, MI – U.S. Senator Gary Peters (MI) visited Walker Tool & Die in Grand Rapids to discuss the impact of President Trump’s tariffs on West Michigan manufacturers. During a listening session, Peters heard directly from manufacturers and workers in the region about how Michigan companies are navigating the current tariff policies and what policies would better foster economic success.
    “President Trump’s tariffs have caused chaos and instability in our economy, and it’s critical to my job to hear directly from folks on the ground about how it is impacting their business,” said Senator Peters. “It was great to meet with local manufacturers and workers to hear their feedback and discuss how our trade policy can better support Michigan companies while creating good-paying jobs.” 
    Following the listening session, Peters toured the plant with Walker Tool & Die President Jeff Umlor. Walker Tool & Die produces high-precision metal stamping dies and tooling systems used to produce components of automobiles, appliances, office furniture, aerospace assets, and more.
    “I appreciate Senator Peters taking time to visit Walker Tool and Die today to discuss how the changing tariff policy, low-cost country tooling, and labor shortages, among other topics, are impacting our industries,” said Jeff Umlor, President of Walker Tool and Die. “Today’s event brought together a diverse group of manufacturers from across the region to share meaningful insight on the current challenges we face, so Senator Peters can continue to effectively advocate on behalf of the business community here in our state.”  
    To download photos from Peters’ event at Walker Tool & Die, click here.
    In April, Peters took to the Senate floor to speak out against the latest tariffs, calling them a “national sales tax” and highlighting how they fall short of a needed strategy to boost American manufacturing.  
    Peters, a lifelong advocate for Michigan workers and manufacturing, has also worked to support American innovation and help Michigan businesses compete in a global market. In an effort to outcompete our adversaries like China, Peters recently helped introduce the American Innovation and Jobs Act, bipartisan legislation that would expand and strengthen research and development incentives for American small businesses and startups. Peters also recently introduced the Trade Adjustment Assistance (TAA) Reauthorization Act of 2025 to support workers in Michigan and across the country who have lost their jobs due to harmful trade policies. 
    Peters also helped craft and pass into law the CHIPS and Science Act, which invested $170 billion in research and development for cutting-edge scientific advancements. This law also invested heavily in strengthening our domestic supply chains for critical semiconductor technologies to create good-paying American jobs and keep the U.S. competitive on the world stage. Peters additionally helped pass the Inflation Reduction Act, which will strengthen domestic manufacturing, onshore our supply chains, and create millions of American jobs.  

    MIL OSI USA News –

  • MIL-OSI: Nasdaq Resumes Trading in Damon Inc.

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 16, 2025 (GLOBE NEWSWIRE) — The Nasdaq Stock Market® (Nasdaq: NDAQ) announced that trading will resume in Damon Inc. (Nasdaq: DMN) at 9:00 a.m. Eastern Time on May 19, 2025. Trading in the company’s stock was halted on April 29, 2025 at 2:01:07 p.m. Eastern Time.

    For news and additional information about the company, please contact the company directly or check under the company’s symbol using InfoQuotesSM on the Nasdaq® Web site.

    For more information about The Nasdaq Stock Market, visit the Nasdaq Web site at http://www.nasdaq.com.

    NDAQO

    Nasdaq Media Contact:
    Sophia Weiss
    Sophia.Weiss@nasdaq.com

    The MIL Network –

  • MIL-OSI Global: Four lifestyle habits that might just help you live to 100

    Source: The Conversation – UK – By Bradley Elliott, Reader in Ageing Physiology, University of Westminster

    Resilience to stress is important when it comes to longevity. Sabrina Bracher/ Shutterstock

    A 115-year-old Surrey woman named Ethel Caterham has officially been handed the title of the oldest living human alive.

    Many people reading this news may wonder what Caterham’s secret is.

    While it isn’t usually a good idea to take health and longevity advice from supercentenarians (as they’re often the exception rather than the rule), there are some lifestyle pointers that we can take from research on groups of long-lived people that might help us increase our chances of living a longer life.

    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.

    1. Physical activity

    Physical activity is good for you – who knew? Research shows that people who are more physically active each day tend to live longer, healthier lives. One study found that going from no physical activity to about 75 minutes per week of brisk walking increased life expectancy by about two years.

    But perhaps less well known is just how bad inactivity is for your health and longevity. It’s a tad difficult to explain, but the positive effects of exercise are actually different from the negative effects of inactivity. That means that you can have a positive influence on your health by being both more active and avoiding being inactive.

    Yet as good as structured exercise is for you, it can’t by itself offset the harms of inactivity and sitting all day. Research even shows that being sedentary is associated with higher risk of premature death from any cause.



    Read more:
    Sitting is bad for your health and exercise doesn’t seem to offset the harmful effects

    If you want to live longer, you should try to avoid sitting for long periods of time if possible. Practical tips for this include standing up every 30 minutes, going to see someone in the office instead of calling or emailing them and standing on public transport during commuting. This, plus the aim to do about 30 minutes moderate exercise most days will help maximise your odds of a long, healthy life.

    2. Eat your veggies

    The advice many kids dread: eat your vegetables if you want to live a long time.

    A recent study that followed around 100,000 people over a 30 year period found that people who made it to 70 years of age in good health (meaning they had no chronic diseases) typically ate more fruits, vegetables, whole grains, nuts and legumes, and fewer trans-fats, red or processed meats, fried foods and sugary foods. Importantly, this study doesn’t say that you must be a vegan, or never eat red meats – it only identifies trends within diets associated with healthy ageing.

    A healthy diet may be key to healthy ageing.
    Tom Wang/ Shutterstock

    When and how much you eat may also play a role when it comes to ageing. Research on caloric restriction and intermittent fasting in animals has shown both can increase lifespan. Our preliminary work in humans has also shown that following a fasting diet for three weeks can cause similar, positive metabolic shifts that match what we’ve seen in animals that will live longer. However, larger studies over longer time-frames are needed to establish effects on healthspan and lifespan in humans.

    3. Sleep

    Regular, good quality sleep is also important for lifelong health and overall longevity.

    In a study of about 500,000 British people, irregular sleep patterns were associated with a 50% higher risk of early death compared to those with regular sleep patterns. Shift workers showed higher risk for strokes, and nurses who worked rotating shifts for decades were less healthy and had earlier deaths at retirement compared to nurses who didn’t work shifts.

    While this data suggests that good quality, regular sleep is important for good health, how much sleep you need and when you should go to bed appears to be highly individualistic. This makes giving population-wide recommendations difficult – which is why the NHS recommends adults get between 7-9 hours sleep.

    4. Stress

    Stress has many effects on your health.

    For instance, increasing evidence shows that early-life stressors (such as loss of a parent, neglect or abuse) can negatively affect health later in life – even down to a molecular and cellular level by increasing inflammation levels in ways that could increase the risk of poor health and premature death in older age.

    Conversely, older adults that show increased psychological resilience to stress are less likely to die from any cause. As little as eight weeks of regular yoga is enough to improve psychological resilience in older adults.

    Possibly linked is the effect of social connections. Those that live more socially active lives also tend to live longer. In fact, people over 65 who are socially active daily are three times more likely to live for five more years compared to those that almost never engage in social activities.

    It’s a common finding that strong social networks appear to enhance longevity. This may be due to the way social connections help us alleviate stressors in our lives.

    The role of genetics

    While there are many lifestyle habits we can change, one thing we can’t control when it comes to our lifespans is genetics. Some research suggests that naturally-occurring mutations in genes associated with longevity are more common in long-lived people.

    Although it’s hard to tease out the role of genetics versus lifestyle when it comes to lifespan, current predictions suggest that longevity is between 20-40% related to genetics.

    But good genetics aren’t everything. Although Ethel Caterham has made it to the remarkable age of 115 – and one of her sisters lived to be 104 – Caterham’s two daughters pre-deceased her at 71 and 83 years of age.

    And even if you do win the genetic jackpot and follow a good lifestyle, you would still be very lucky to make it to Caterham’s grand old age of 115. Cells mutate, clots form, biological luck runs out. Still, if you want to maximise your odds of living longer and staying as healthy as possible, aim to be more physically active each day, eat a good diet, get a good night’s sleep and keep stress levels low.

    Bradley Elliott receives funding from the Physiological Society, the British Society for Research on Ageing, the Altitude Centre, and private philanthropic individuals, and has consulted for industry and government on longevity research. He is on the Board of Trustees of the British Society for Research on Ageing.

    – ref. Four lifestyle habits that might just help you live to 100 – https://theconversation.com/four-lifestyle-habits-that-might-just-help-you-live-to-100-255789

    MIL OSI – Global Reports –

  • MIL-OSI USA: Commissioner Christy Goldsmith Romero Announces Departure from CFTC

    Source: US Commodity Futures Trading Commission

    On February 26, 2025, I announced that I will step down from the Commission and retire from federal service.  My final day at the Commission will be May 31.
    It has been a tremendous honor to conclude my 23 years of federal service at an agency with such an important mission to ensure that financial markets perform their critical role in the U.S. and global economies.  At my confirmation hearing, I testified that my highest priority would be to ensure that markets work well.  During my tenure, derivatives markets experienced significant growth, while remaining resilient and financially stable through times of market stress and volatility.  For that, I am most proud of the CFTC’s work.  I am also proud of the CFTC’s work to strengthen customer protection and market integrity.  I want to recognize the wonderful CFTC staff who are dedicated public servants, especially the Division of Enforcement, who worked with me to strengthen market integrity and protect customers.
    I wish to also recognize the members of the CFTC Technology Advisory Committee, which I sponsored, for their landmark reports and public forums on future of finance issues.  I reconstituted membership on TAC to focus on responsible innovation and emerging technology, adding well-regarded experts in artificial intelligence, cybersecurity, digital assets, and FinTech.  Under my sponsorship, TAC released landmark reports on Responsible AI in Financial Markets and on Decentralized Finance, and sponsored public forums on AI, cybersecurity, blockchain, digital identity, and digital assets.
    It has been a privilege and joy to work with my fellow Commissioners.  The same is true of my current and former staff in my office whose intellect, professionalism, and deep caring about the financial system and all who benefit from it were evident every day of their service. 
    Finally, I am grateful to President Biden for my multiple nominations, to the U.S. Senate for my two unanimous confirmations, and to the four Presidents under which I served.

    MIL OSI USA News –

  • MIL-OSI USA: King, Colleagues Demand Information on $400 Million Qatari Plane Bribe

    US Senate News:

    Source: United States Senator for Maine Angus King
    WASHINGTON, D.C. – U.S. Senator Angus King (I-ME) is joining his colleagues today in demanding the Department of Defense be transparent with them about the substantial national security risks of the $400 million Air Force One bribe from the Qatari royal family. Just days after Senator King told Scripps News that the jet transfer “poses a serious national security risk,” he signed a letter to Defense Secretary Pete Hegseth and Secretary of the Air Force Troy Meink, seeking answers about the unnecessary danger that an unsecure and unprotected Air Force One would present to the President.
    The Air Force has been working with Boeing to deliver two brand new 747 jets to be used as Air Force One. However, with the delivery date of the new aircraft not expected until 2027, the White House has proposed accepting the Qatari plane as a short-term alternative. Nevertheless, Article I of the Constitution, specifically the emoluments clause, bars anyone holding government office from accepting any gift or bribe from any “King, Prince, or foreign State,” without congressional consent.
    “[We] write today with alarm over the dangers to operational and national security presented by President Trump’s desire to execute an unconstitutional and unseemly acceptance of a $400 million gift from the Qatari royal family in the form of a luxury Boeing 747-8 aircraft. To serve as Air Force One during his administration, the U.S. Department of Defense would be required to accelerate a comprehensive upgrade to the aircraft, with the direct cost to the American taxpayer likely exceeding $1 billion. We are especially concerned about the operational security and counterintelligence risks of potentially using this aircraft for sensitive Presidential travel— and the massive cost to American taxpayers to identify and close critical vulnerabilities,” the lawmakers said.
    The Senators continued, “Having the President travel without the necessary security precautions or secure communications renders the aircraft an easy target for adversaries to gain access to sensitive Presidential-level discussions or classified information, impeding the success of ongoing military operations and endangering our servicemembers… President Trump is claiming that this ‘gift’ of an aircraft worth $400 million is saving taxpayers money, but in reality, his decision will force taxpayers to foot an unnecessary bill – potentially more than $1 billion—to convert a foreign-provided aircraft into the fortress necessary to protect him and his communications—all while taxpayers are already paying at least $3.9 billion for the contract for two aircraft currently being built by Boeing to add to the Air Force One fleet.”
      
    In addition to King, the letter is signed by U.S. Senators Tammy Duckworth (D-IL), Minority Leader Chuck Schumer (D-NY), Assistant Minority Leader Dick Durbin (D-IL), Michael Bennet (D-CO), Mazie Hirono (D-HI), Mark Kelly (D-AZ), Jacky Rosen (D-NV), Adam Schiff (D-CA), Elissa Slotkin (D-MI), Chris Van Hollen (D-MD) and Elizabeth Warren (D-MA).
    The full text of the letter can be found here and below.
    +++
    Dear Secretary Hegseth and Secretary Meink:
    We write today with alarm over the dangers to operational and national security presented by President Trump’s desire to execute an unconstitutional and unseemly acceptance of a $400 million gift from the Qatari royal family in the form of a luxury Boeing 747-8 aircraft. To serve as Air Force One during his administration, the U.S. Department of Defense would be required to accelerate a comprehensive upgrade to the aircraft, with the direct cost to the American taxpayer likely exceeding $1 billion. We are especially concerned about the operational security and counterintelligence risks of potentially using this aircraft for sensitive Presidential travel— and the massive cost to American taxpayers to identify and close critical vulnerabilities.
    This announcement alone could pose a threat to Presidential protection now and in the future. President Trump’s public statement on May 12 that the U.S. would accept the Qatari aircraft— before the aircraft was in our Nation’s custody—provides a dangerous opportunity to exploit for foreign intelligence agencies and adversaries seeking to do harm to the United States, who have a great incentive to gain access to the aircraft and individuals with sensitive knowledge and understanding of the Qatar royal family’s “Palace in the Sky.”
    Importantly, protecting Air Force One from compromise, attack or disruption is a critical mission of the Air Force and the entire U.S. Department of Defense. A threat to an Air Force One aircraft would not only endanger the President, but also the Air Force pilots and servicemembers in the 89th Airlift Wing who serve on or maintain the aircraft.
    We know that the Air Force One fleet has extensive technical requirements each aircraft must meet in order to protect the President from any threats during travel, ensure the aircraft can continue to operate at the ranges necessary (such as through refueling capabilities) and guarantee that the President can communicate continuously and securely, a capability that would prove essential in an unforeseen foreign or domestic crisis. One of the most consequential aspects of this mission is to ensure nuclear command and control remains intact even while the President travels—a cornerstone of our deterrent.
    It is unclear whether and how, if President Trump proceeds with this plan to accept this aircraft, the Department plans to ensure the aircraft can meet the necessary high standards for operational security, counterintelligence and Presidential protection under the hastened timeframe arbitrarily set by President Trump to use it for travel before the end of his term in 2029.
    An unsecure and unprotected Air Force One presents clear dangers to our national security. Having the President travel without the necessary security precautions or secure communications renders the aircraft an easy target for adversaries to gain access to sensitive Presidential-level discussions or classified information, impeding the success of ongoing military operations and endangering our servicemembers.
    This potential move also presents concerning indications of waste, fraud and abuse. Experts estimate that upgrading this unvetted aircraft to meet essential security specifications could cost upwards of $1 billion. President Trump is claiming that this “gift” of an aircraft worth $400 million is saving taxpayers money, but in reality, his decision will force taxpayers to foot an unnecessary bill – potentially more than $1 billion—to convert a foreign-provided aircraft into the fortress necessary to protect him and his communications—all while taxpayers are already paying at least $3.9 billion for the contract for two aircraft currently being built by Boeing to add to the Air Force One fleet.
    One expert speaking to Defense News said that, to achieve all the features of Air Force One with this unvetted plane, this option would “be a step backward.” Instead of accelerating delivery of a secure plane for Presidential travel, as the administration contends, “they’d have to start over again with what they’ve been working on with the other 747-8” under the existing Boeing program. “Starting over again with the same plane would take a lot longer.”
    This administration has been vocal about its commitment to efficiency and cost-savings in the federal government. But spending taxpayer money on efforts to upgrade this Qatari jet – when the President currently travels securely – is unnecessary and wasteful. We require answers to the following questions regarding the operational risks surrounding the President’s possible acceptance of this aircraft, either in writing or in a briefing to us no later than June 1, 2025. Please provide answers at whatever classification level necessary.
    Please detail the mitigation steps and counterintelligence countermeasures that the U.S. Department of Defense and the Intelligence Community would take to prevent foreign intelligence services from exploiting the aircraft before it is safely in U.S. custody.
    Which agencies will perform counterintelligence and technical surveillance countermeasures?
    What resources will be required for these agencies to perform these countermeasures?
    Please detail the certification procedures and standard technical requirements for Presidential protection, operational security, counterintelligence and secure communications required of Air Force One.
    Please provide a detailed plan for how the Air Force will retrofit this aircraft to certify that it meets these standard requirements.
    Which agencies will be responsible for certifying that there are no physical or cyber vulnerabilities?
    What resources will be required for these agencies to perform these certifications?
    Please provide a cost estimate and required timeline for retrofitting this aircraft, including certifying against vulnerabilities, installing secure communications and installing other protective or other equipment necessary to meet the security and counterintelligence requirements for the Air Force One fleet.
    What timeline has been directed for clearing the aircraft for Presidential use, and can the required certifications and preparations be conducted in such timeline?
    What risks have you been directed to accept?
    What vulnerabilities will remain as a result?
    What mitigation steps will you take to address these remaining vulnerabilities?
    How will these vulnerabilities impact the operations of the 89th Airlift Wing?
    How will these vulnerabilities impact other core missions of the Department of Defense, such Presidential command and control during crises and contingencies?
    Please provide a risk assessment, in coordination with the Intelligence Community, regarding if and how increased public scrutiny of Air Force One capabilities has affected threats to our Presidential protection procedures and capabilities.
    Please provide details and documentation of what analysis of alternative aircraft or options the U.S. Department of Defense undertook before settling on the proposal for the Qatari aircraft.
    Please provide copies of any communications between the Department of Defense and the Qatari government or its representatives regarding this proposal.
    Reports indicate that the U.S. Department of Defense may be considering “loosening” requirements of the contract with Boeing to deliver 747-8 aircraft to serve in the Air Force One fleet in order to accelerate delivery from 2029 to 2027. Please provide details 3 of any proposed or decided changes to these requirements and documentation of the Department of Defense’s analysis of tradeoffs of this desired acceleration.
    Please provide the assessed impacts of the Department’s plans vis a vis this aircraft on the planned delivery timelines for the existing contract for the other Boeing 747-8 aircraft currently in development, including the potential diversion of specialized DoD personnel to conduct or oversee these upgrades as opposed to work on the existing contract.
    The American people deserve to understand this administration’s plans for securing this aircraft, the vulnerabilities its use will present to our national security and the price tag they will be asked to pay for President Trump’s decision to integrate this aircraft into our most sensitive fleet.
    Sincerely,

    MIL OSI USA News –

  • MIL-OSI USA: Hoeven Outlines Efforts with EPA Administrator to Provide Regulatory Certainty, Respect Private Property Rights

    US Senate News:

    Source: United States Senator for North Dakota John Hoeven
    05.15.25
    Senator Stresses Importance of Improving Grid Reliability & Affordability, Rescinding Overreach by Biden Administration
    WASHINGTON – Senator John Hoeven this week urged Environmental Protection Agency (EPA) Administrator Lee Zeldin to provide regulatory certainty to the nation’s energy producers and ensure the federal government respects private property rights. In particular, Hoeven highlighted the importance of:
    Improving the reliability and affordability of the electrical grid.
    Hoeven pointed to reports from the Federal Energy Regulatory Commission (FERC) and North American Electric Reliability Corporation (NERC) showing that the loss of baseload power, including from the premature retirement of coal-fired electric plants, has undermined grid reliability.
    The senator urged Zeldin to follow through on rolling back regulatory overreach from the Biden administration, including reining in Biden-era rules like the Mercury and Air Toxics Standards (MATS) and Clean Power Plan 2.0 rules.

    Restoring the traditional definition of “waters of the U.S.” (WOTUS) to protect both private property rights and the role of states in managing the water within their borders.
    The expanded WOTUS definition, advanced by both the Obama and Biden administrations, sought to reach beyond the federal regulatory authority established under the Clean Water Act.
    These rules would have imposed unworkable mandates, burdensome new permitting requirements and compliance costs on landowners, energy and agriculture producers and other industries.
    Accordingly, Hoeven worked to protect against the implementation of the expansive WOTUS rules advanced by both the Obama and Biden administrations.
    The senator is supporting the Trump administration in providing regulatory certainty and bringing the WOTUS rule into compliance with the Supreme Court’s decision in Sackett v. EPA.

    “The Biden administration imposed a regulatory blizzard on this nation, overreaching its legal authority to advance rules that punished our coal, oil and gas producers and created new burdens impacting a wide range of industries,” said Hoeven. “As a result, we saw the premature retirement of baseload, coal-fired power plants, which are critical to the reliable operation of the electrical grid. This undermined our energy security and is absolutely the wrong approach for our nation. Instead, we need to empower technological innovation, like we’re doing with CCUS in North Dakota. At the same time, we will continue working with Administrator Zeldin and the Trump administration to roll back President Biden’s harmful policies, provide regulatory certainty and ensure the federal government respects private property rights. That’s how we can make the U.S. energy dominant while improving environmental stewardship.”

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: SCMA visits Hungary to promote development opportunities in GBA

    Source: Hong Kong Government special administrative region

    The Secretary for Constitutional and Mainland Affairs, Mr Erick Tsang Kwok-wai, and the Commissioner for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area, Ms Maisie Chan, are currently on duty visit to Hungary to promote the development opportunities of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
     
    Mr Tsang arrived in Budapest, Hungary on May 15 (Hungary time) and called on the Chinese Ambassador to Hungary, Mr Gong Tao. Today (May 16) he met with the State Secretary for Bilateral Relations at the Ministry of Foreign Affairs and Trade of Hungary, Ms Boglárka Illés, and Deputy Speaker of the National Assembly of Hungary Dr Lajos Oláh, to share views on issues relating to the promotion of exchange and collaboration between Hong Kong and Hungary.
     
    Mr Tsang also attended today the Guangdong-Hong Kong-Macao Greater Bay Area – Europe (Hungary) Economic and Trade Cooperation Exchange Conference jointly organised by the People’s Government of Guangdong Province, the Hong Kong Special Administrative Region Government and the Macao Special Administrative Region Government to promote the business opportunities brought about by the GBA to the European business community, and Hong Kong’s position as a GBA’s international entry point and roles as a “super connector” and “super value-adder”. Speaking at the conference, he encouraged enterprises and talents to capitalise on Hong Kong’s unique advantages of having staunch support of the motherland and being closely connected to the world by establishing foothold in the city and tapping into the huge market of the GBA, and to turn challenges into endless opportunities under the current international situation.

    Mr Tsang emphasised that under “one country, two systems”, Hong Kong would continue to maintain its status as a free port, implement a free trade policy, maintain the free flow of capital, goods, people and information, and firmly support a rules-based multilateral trading system.
     
    Mr Tsang will depart for Cairo, Egypt, on May 17 to attend the Guangdong-Hong Kong-Macao Greater Bay Area – Africa (Egypt) Economic and Trade Cooperation Exchange Conference to be held there. He will return to Hong Kong on May 19.

    MIL OSI Asia Pacific News –

  • MIL-OSI Africa: The International Islamic Trade Finance Corporation (ITFC) Signs a EUR 106 Million Facility Terms under the Master Murabaha Agreement with the Republic of Burkina Faso

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

    OUAGADOUGOU, Burkina Faso, May 16, 2025/APO Group/ —

    The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), the trade finance arm of the Islamic Development Bank (IsDB) Group, renewed its longstanding support to the Republic of Burkina Faso with the signing of a EUR 106 Million Facility terms under the Master Murabaha Agreement, with Société Burkinabè des Fibres Textiles (SOFITEX) as the executing agency.

    The facility provided aims to support the country’s cotton campaign, reinforcing ITFC’s longstanding commitment to enhancing agricultural productivity and economic stability in Burkina Faso.

    Commenting on the signing, Nazeem Noordali, COO of ITFC stated: “ITFC’s commitment to Burkina Faso’s economic development is once again demonstrated through this renewed financing facility. We recognize the critical role of the cotton sector in the economy and its impact on employment in Burkina Faso, which has been a key focus of our interventions since 2008. This partnership with SOFITEX aligns with our ongoing efforts to drive sustainable growth in the sector while ensuring its long-term resilience and prosperity.”

    Speaking on behalf of SOFITEX, the CEO, M. Bienvenu PARE, said: “We are delighted to strengthen our strategic partnership with ITFC through this facility. This financing will not only help boost cotton production but also create tangible impacts on rural livelihoods, strengthen value chains, and support the country’s sustainable economic growth. We look forward to the positive outcomes of this collaboration for Burkina Faso’s cotton sector and wider agriculture industry.”

    This signing is in line with the US$900 million Framework Agreement signed in May 2023 between ITFC and Burkina Faso. With this financing, ITFC continues to play a crucial role in supporting Burkina Faso’s agricultural sector and contributing to the country’s economic stability and agricultural productivity while advancing SDG Goal 1 “No Poverty” and SDG 2 “Zero Hunger”.

    Over the years, ITFC and the Republic of Burkina Faso have enjoyed a good and longstanding relationship with a total of US$3.3 billion approved in financing across 48 operations in Burkina Faso, mainly in the energy and agriculture sectors.

    MIL OSI Africa –

  • MIL-OSI Europe: Philip R. Lane: The communication of monetary policy decisions: incorporating risks and uncertainty

    Source: European Central Bank

    Remarks by Philip R. Lane, Member of the Executive Board of the ECB, at the Second Thomas Laubach Research Conference

    Washington, D.C., 16 May 2025

    In my remarks today I will focus on how the ECB communicates its monetary policy decisions, with a particular emphasis on the integration of risks and uncertainty into the monetary policy decision-making process.[1][2]

    Monetary policy meetings take place over two days. On Wednesday afternoon, there are presentations by ECB Executive Board members: Isabel Schnabel reports on the latest financial market developments and I review the global environment and the latest economic, monetary and financial developments in the euro area. This is followed by a general discussion of these topics by Governing Council members. On Thursday morning, I present a proposal for the monetary policy decision, which is then discussed by the Governing Council. After the monetary policy decision is made (typically by consensus), the monetary policy statement is finalised by the Governing Council, concluding the Thursday morning session.

    In the afternoon, a press release announcing the decision is published at 2:15 p.m. While this press release was quite succinct in the past, a summary explanation for the decision is now included, and — for the quarterly meetings — the main elements of the staff macroeconomic projections are reported.

    At the opening of the press conference at 2:45 p.m., President Lagarde reads out the monetary policy statement. The opening section matches the press release, while further sections go into more detail on economic activity, inflation, the risk assessment and monetary and financial developments. This is followed by a question-and-answer session. After the press conference, the quarterly forecast meetings also see the publication of a staff article that explains the new set of macroeconomic projections. About two weeks later, the Economic Bulletin is published, containing summaries of the preparatory analysis that was made available to the Governing Council prior to the meeting. An account of the meeting is published about a month after the meeting.

    The aim of the monetary policy statement is not only to explain the immediate decision but also to update the underlying narrative in terms of the overall orientation of the monetary stance, the main forces shaping the dynamics of the economy and the inflation process, the evolving risk assessment and monetary and financial developments. The discipline of limiting the length of the monetary policy statement (it was about 1,500 words in April) puts a premium on identifying the main issues that the Governing Council wishes to emphasise. At the same time, this length offers room for a sufficiently broad survey of these themes to underpin the monetary policy decision. Naturally, at the quarterly meetings, there is also considerable external interest in the details of the new staff macroeconomic projections: it makes sense to publish the staff article after the press conference. In that way, the initial focus in the monetary policy statement and the press conference is on the Governing Council’s overall assessment of the situation, whereas the technical details of the staff work follow thereafter.

    The publication of the meeting account summarises the presentations by Isabel and myself and the ensuing discussions among the members of the Governing Council. The account includes a section entitled “Monetary policy considerations and policy options” that provides the main features of the monetary policy proposal that I presented at the meeting. This typically includes considerations of how risk factors were taken into account in the proposal.[3] Especially since the Governing Council’s monetary policy decisions are typically consensual, the summary of the discussion provides valuable insights into the range of views expressed at the meeting.

    Taken together, the press release, the MPS, the press conference, the staff macroeconomic projections article, the Economic Bulletin and the meeting accounts provide a phased sequence of public information releases that helps external audiences to understand how we make our monetary policy decisions. In addition, in pursuing a multi-layered approach to public communication, a visual monetary policy statement is also released, which explains the monetary policy decision in short and easy-to-understand language, accompanied by a set of infographics to illustrate the main messages.[4]

    These decision materials are complemented by speeches and interviews by Executive Board and Governing Council members. The publication of an array of analytical contributions by staff (through the Economic Bulletin, the ECB Blog, working papers and occasional papers) also helps improve understanding of monetary policy formation, including in relation to the staff projections, which form a key analytical input into monetary policy meetings.

    In view of this rich information set, would it be a game changer if the Governing Council additionally published its conditional assessment of the most likely future rate path, as practised by some other central banks? Putting aside the logistical challenge of forming a consensus on the conditional future rate path among the twenty-six members of the Governing Council, it is my view that such an exercise would create unwarranted expectations about the future rate path. Moreover, it would distort the monetary policy decision-making process in view of the potential reputational costs associated with deviations of actual decisions from the previously-flagged path.[5] Procedurally, publishing a conditional rate path would also be awkward in the context of a staff-led projections exercise that is based on the market rate path.

    More fundamentally, publishing a conditional baseline for the future rate path would not well capture the sensitivity of future rate decisions to the evolving macroeconomic environment and shifts in the risk assessment. As part of the meeting preparations, the staff analyse a family of plausible future rate paths and it would convey excessive confidence if any one candidate rate path were to be singled out. In particular, staff simulation exercises show the sensitivity of rate paths to both the point-in-time macroeconomic projections and various underlying assumptions that underpin model-based optimal rate paths as well as “robust” rate paths that seek to minimise the risk of a policy error across a range of plausible scenarios. Importantly, all such rate path analyses are sensitive to the assumptions made about the preferences of policymakers.[6] Even if the rate path simulation exercises are highly valuable inputs into the internal development of the monetary policy proposal, it is preferable to take a meeting-by-meeting approach and focus the public communication on the immediate decision.[7]

    At the same time, to improve external understanding of how we make decisions, it is helpful set out the criteria guiding the reaction function to the main risk factors prevailing at any point in time.[8] This provides “reaction function” guidance in terms of the key inputs driving monetary policy decisions.[9] For instance, during the disinflation process over the last two years, the Governing Council has highlighted that measures of underlying inflation and the incoming evidence on the strength of monetary policy transmission were especially important in guiding decisions, in addition to the “standard” role of the inflation outlook (comprising both the baseline and the risks around it). The prominence of these specific risk proxies reflected the high uncertainty about the intrinsic persistence of the inflation surge (such that measures of underlying inflation provided important insights into the persistent component of inflation) and, similarly, the high uncertainty about the impact of the exceptionally fast pace of the cumulative rate hiking over 2022-2023 (such that monitoring the evidence on the strength of monetary transmission was crucial). Since both inflation persistence and the strength of monetary transmission are first order influences on the calibration of the rate path, the prominence given to these factors in our public communication have helped market participants to understand that the incoming information along these dimensions is central to our data-dependent monetary policy decisions. Looking to the future, the exact articulation of reaction function guidance should be periodically updated in line with the evolving risk environment: there is unlikely to be a fixed, timeless list of risk proxies.

    The risk assessment section of the monetary policy statement provides additional signals regarding the factors that might shape future rate decisions. The meeting-by-meeting list of upside and downside risks to growth and inflation help to shape market pricing of future rate decisions: as the evolution of these risks become more or less prominent between meetings, market participants can revise their views. Naturally, this risk assessment is informed by considerable staff analysis that identifies and calibrates material threats to the growth and inflation projections.

    Finally, alternative scenarios have been included in the staff macroeconomic projections exercise in the context of specific risk constellations. These include the onset of the pandemic in early 2020, the unjustified invasion of Ukraine by Russia in early 2022 and the elevation of geopolitical tensions in the Middle East in autumn 2023. In the near term, the ongoing uncertainty about US tariff policies means that alternative scenarios will also be included in the June macroeconomic projections exercise. These staff exercises are valuable in conveying the scale of revisions to the projected inflation and output paths that would be triggered under the realisation of the alternative scenarios.[10]

    In providing the risk assessment in the monetary policy statement and by staff publishing alternative macroeconomic projection scenarios in the context of specific risk constellations, there is extensive communication on how different risk factors might shape future decisions. Some might wish that the Governing Council lays out specific policy responses to these various risk profiles in order to “fill out” the distribution of future rate paths. However, as outlined above, the rich information set that is attached to each monetary policy decision together with reaction function guidance provides a sufficient foundation for market participants to assess how the realisation of various risks could affect the future rate path.

    An additional potential application of scenario analysis is to construct a limited set of specific “curated” alternative scenarios by combining selected alternative calibrations of the primary economic and financial judgements underpinning the baseline projections. Publishing such alternative scenarios can be helpful in conveying the difficult choices embedded in making forecasts and in capturing possible differences in policy preferences across policymakers. From a communications perspective, this can be particularly helpful in systems where policymakers have a collective responsibility to endorse the published forecast but retain individual responsibility in casting votes.

    Since the ECB relies on a staff-led projections exercise and has a strong preference for consensual decisions, the set of considerations in publishing such curated scenario analyses is different. In making sure monetary policy decisions are robust to non-baseline realisations, it is also not clear whether such a curated approach would be superior to a “many scenario” internal staff analysis (possibly augmented by machine learning algorithms) that explores robustness across the many combinations of shocks and modelling choices that are considered at each meeting. In addition, if the aim is to capture the main risk concerns of policymakers, selecting a limited set of curated alternative scenarios (out of very many possible scenarios) for each meeting would be logistically taxing for a twenty-six member Governing Council. A basic concern is that the selected curated scenarios might turn out to have shined the spotlight on risk factors that proved to be immaterial and might give the impression that the risk analysis was too narrow in scope.

    In any event, the specific methods used to convey how risks and uncertainty are incorporated into the monetary policy decision-making process are less important than the underlying commitment to articulate that policy decisions not only take into account the baseline but also the surrounding risk environment. Moreover, there is an active research agenda in academia and policy organisations on how best to incorporate uncertainty into monetary policy decisions and monetary policy communications: as this research bears fruit over time, central banks should adapt their practices.[11]

    In these remarks, I have focused on how we currently communicate our monetary policy decisions and the associated decision-making framework. How best to integrate risk and uncertainty into our monetary policy decisions and our communication is a key topic for our ongoing assessment of our monetary policy strategy.[12] We will publish our updated strategy in the second half of the year.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: More than 100 garages now available to rent for storage or parking

    Source: City of Norwich

    City Council garage

    Published on Friday, 16th May 2025

    For the first time, our garages can now officially be used for general storage as well as for parking vehicles, and there are currently 169 available.

    If you are looking for a garage to rent in a convenient part of the city, we can offer lots of choice. Perhaps you need to free up some space or declutter your house? If so, you can now store items such as furniture, carpets, toys and tools in our garages.

    Anyone can rent one of our garages at a competitive rate of £31.78 per week and there are discounts available so please see our website for details.

    Important restrictions remain to keep garage sites safe for everyone. Items that must not be stored include:

    • Flammable materials (such as petrol, diesel or gas canisters),
    • Electric scooters or e-bikes,
    • Refrigerators, freezers or perishable goods,
    • Fireworks or other explosive materials,
    • Any goods or activities that are illegal or likely to cause a nuisance to others.

    Garages also cannot be used as workshops, charging stations or living spaces.

    Councillor Beth Jones, cabinet member for housing, said:
    ” We know that many people are looking for extra storage space, whether that’s to free up a spare room, keep tools secure, or simply declutter. By allowing garages to be used for storage, we hope to offer a practical and affordable solution that suits a range of needs across the city.”

    For more information or to apply for a garage, visit: www.norwich.gov.uk/garagepolicy.

    MIL OSI United Kingdom –

  • MIL-OSI: Interfield Announces Delisting From Cboe Canada Exchange, Provides Update on Status of Failure-to-File Cease Trade Order and Announces Extension of MOU With Abhi Joint Venture

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, May 16, 2025 (GLOBE NEWSWIRE) — Interfield Global Software Inc.(the “Company”) announces that, further to its news release dated February 18, 2025, that the common shares of the Company (“Common Shares”) have been delisted from the Cboe Canada Exchange (the “Cboe”) as of the close of trading on May 12, 2025. The Company will remain a reporting issuer in Alberta, British Columbia and Ontario, and continues to work toward listing the Common Shares on the Canadian Securities Exchange (the “CSE”).

    Failure to File Cease Trade Order Update

    The Company also announces that due to delays in filing its annual audited financial statements, chief executive officer and chief financial officer certifications of the annual filings, accompanying management discussion and analysis and annual information form for the year ended December 31, 2024 (collectively, the “Annual Filings”), the Company anticipates that it will be delayed in filing its consolidated interim financial reports for the three months ended March 31, 2025 (the “Interim Filings”). On April 4, 2025, as a result of the delay in the Company completing the Annual Filings, the British Columbia Securities Commission as the principal regulator of the Company issued a failure-to-file cease trade order to the Company under ‎National Policy 11-207 Failure-To-File Cease Trade Orders And Revocations In Multiple Jurisdictions.

    The delay is a result of the Company’s auditors requiring additional time to complete their audit, which is required to be completed before the Interim Filings can be completed. The Company’s management continues to work diligently with its auditors, to complete the Annual Filings and expects to complete the Annual Filings on or before June 15, 2025. ‎The Company expects that it will complete the Interim Filings contemporaneously with the Annual Filings.

    The Company confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing on November 12, 2024 of the Company’s consolidated ‎interim financial reports for the period ended September 30, 2024‎. There are no insolvency proceedings involving the Company.

    Abhi Joint Venture Update

    Further to its news releases dated November 18, 2024, January 21, 2025 and February 18, 2025, the Company announces that it has made further progress towards the completion of its joint venture with Abhi Fintech Ltd. (“Abhi”), pending which Abhi and Interfield Solutions have extended the term of their previously announced MOU until October 31, 2025.

    About Abhi

    Abhi is a prominent fintech company, earning recognition as one of the Future 100 companies in the UAE. It was also the first to receive the Technology Pioneer 2023 Award by the World Economic Forum, making fintech history in the MENAP region. Abhi offers a comprehensive suite of products and services, including EWA, payroll solutions, and SME financing.

    About Interfield Global Software Inc.

    The Company is an unlisted reporting issuer and operates out of Dubai, U.A.E through its wholly owned subsidiary, Interfield Software Solutions LLC (“Interfield Solutions”).

    Interfield Solutions is a software company that services numerous industrial segments worldwide including oil and gas, mining and renewables. Interfield Solutions has two operating divisions, E-commerce and Software as a Service. Equipment Hound, the company’s flagship product of its E-commerce division, is an industrial equipment marketplace that connects buyers and suppliers around the globe. Equipment Hound manages a catalogue of equipment from various suppliers and provides procurement solutions for buyers. It includes features such as requests for quotes, logistics support and third-party verification. ToolSuite, the company’s flagship product of its Software as a Service division, is a cloud based data collection and management platform that digitizes industrial processes and provides real-time auditable data for clients.

    ON BEHALF OF THE BOARD OF DIRECTORS

    “Harold Hemmerich”

    Harold Hemmerich, Chief Financial Officer & Director

    Phone: +971 50 558 8349

    Forward-Looking Statements Disclaimer and Reader Advisory

    This news release contains “forward-looking information” within the meaning of applicable Canadian ‎securities legislation. All statements, other than statements of historical fact, included herein are forward-‎looking information. In particular, this news release contains forward-looking information regarding: the ‎filing of the Annual Filings and Interim Filings, including the timing for the filing of the Annual Filings and Interim Filings and the proposed listing of the Common Shares on the CSE. ‎There can be no assurance that such forward-looking information will prove to be ‎accurate, and actual results and future events could differ materially from those anticipated in such ‎forward-looking information. This forward-looking information reflects the Company’s current beliefs and is based on ‎information currently available to the Company and on assumptions the Company believes are reasonable. These ‎assumptions include, but are not limited to the ability of the Company to complete the Annual Filings in the noted ‎timeframe. Forward-looking information is subject to known and unknown risks, uncertainties and other factors ‎that may cause the actual results, level of activity, performance or achievements of the Company to be materially ‎different from those expressed or implied by such forward-looking information. Such risks and other ‎factors may include, but are not limited to: general business, economic, competitive, political and social ‎uncertainties; general capital market conditions and market prices for securities; delay or failure to receive ‎board or regulatory approvals; the actual results of future operations; competition; changes in legislation ‎‎affecting the Company; the timing and availability of external financing on acceptable terms; long-term capital ‎requirements and future developments in the Company’s markets and the markets in which it expects to ‎compete;‎ or loss of key individuals. A description of additional risk factors ‎that may cause actual results to differ materially from forward-looking information can be found in the Company’s ‎disclosure documents on the SEDAR+ website at www.sedarplus.com. Although the Company has attempted to identify ‎important factors that could cause actual results to differ materially from those contained in forward-‎looking information, there may be other factors that cause results not to be as anticipated, estimated or ‎intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further ‎cautioned not to place undue reliance on forward-looking information as there can be no assurance that ‎the plans, intentions or expectations upon which they are placed will occur. Forward-looking information ‎contained in this news release is expressly qualified by this cautionary statement. The forward-looking ‎information contained in this news release represents the expectations of the Company as of the date of this news ‎release and, accordingly, is subject to change after such date. However, the Company expressly disclaims any ‎intention or obligation to update or revise any forward-looking information, whether as a result of new ‎information, future events or otherwise, except as expressly required by applicable securities law.‎

    No securities regulatory authority has either approved or disapproved the contents of this news release. The Cboe Canada Exchange does not accept responsibility for the adequacy or accuracy of this news release.

    The MIL Network –

  • MIL-OSI: Bitcoin Breaks $100K — BexBack Launches 100% Deposit Bonus to Help Traders Seize the Volatility with 100x Leverage, No KYC Required

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, May 16, 2025 (GLOBE NEWSWIRE) — As Bitcoin prices soar past the historic $100,000 mark and global tariff tensions ease, market sentiment has turned decisively bullish. Analysts now predict a period of heightened volatility, where massive price swings are expected. For traders seeking to amplify their returns during this phase, high-leverage derivatives have become the preferred tool — and BexBack is leading the way.

    What Is 100x Leverage and Why It Matters Now?

    In simple terms, 100x leverage means a trader can control $100,000 worth of crypto with just $1,000 in capital. During periods of volatility, even a 1% price move can result in 100% profit or loss — providing a powerful tool for seasoned traders to maximize upside with minimal capital.

    Example: If BTC moves from $100,000 to $101,000 (a 1% increase)

    • With $1,000 and 100x leverage, you control 1 BTC → Profit = $1,000
    • With $1,000 spot investment, you hold 0.01 BTC → Profit = $10

    However, with higher potential rewards come higher risks, so proper risk management is essential.

    Double Your Capital with BexBack’s 100% Deposit Bonus

    To help traders unlock the full potential of leveraged trading, BexBack is offering a 100% deposit bonus:

    • Deposit 0.001 BTC or 100 USDT or more
    • Submit a bonus request
    • Instantly receive the same amount in bonus funds, usable as trading margin
    • Bonus funds cannot be withdrawn, but profits generated from them can be fully withdrawn

    This gives traders a bigger buffer against liquidation and the ability to open larger positions with the same capital.

    Why Trade Futures on BexBack?

    BexBack has rapidly gained popularity among crypto traders due to its innovative features and user-friendly approach:

    • 100x leverage on 50+ crypto contracts including BTC, ETH, SOL, XRP, ADA, and more
    • Zero spread & no slippage — execute trades at the price you see
    • No KYC required — register instantly with just an email
    • $50 Welcome Bonus for new users who deposit（Deposit greater than 0.001 BTC） and complete their first trade
    • Demo account with 10 BTC or 1M USDT virtual funds
    • Global access, 24/7 multilingual support, and mobile/web compatibility

    Who Is BexBack?

    BexBack is a next-generation cryptocurrency derivatives exchange headquartered in Singapore, with offices in Hong Kong, Japan, the U.S., and the U.K. It currently serves over 500,000 users worldwide. With its focus on speed, security, simplicity, and trader empowerment, BexBack is becoming the platform of choice for traders looking to profit in both bull and bear markets.

    Don’t Miss the Moment — Trade the Bull Run with Power

    If you’ve been waiting to enter the market or scale your trading, now is the time. With Bitcoin surpassing $100K and volatility on the rise, BexBack gives you the tools to trade fast, trade smart, and trade big — all with unmatched flexibility.

    Register today, claim your 100% deposit bonus and $50 welcome bonus, and experience the adrenaline of high-leverage crypto futures trading.

    Website: www.bexback.com

    Contact: business@bexback.com

    Contact:
    Amanda
    business@bexback.com

    Disclaimer: This content is provided by BexBack. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.

    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

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

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/73f0f943-b3d1-4704-81c9-7d34d1b89461

    https://www.globenewswire.com/NewsRoom/AttachmentNg/4d6b1a9c-f30b-4199-9c98-7e506c337f44

    https://www.globenewswire.com/NewsRoom/AttachmentNg/4dd67d09-2355-464b-88ba-b2268f670d0b

    https://www.globenewswire.com/NewsRoom/AttachmentNg/df470d7f-840e-4646-930d-6149f0297a7e

    https://www.globenewswire.com/NewsRoom/AttachmentNg/0f50e696-bf42-41e1-b97e-0ae60370dfee

    https://www.globenewswire.com/NewsRoom/AttachmentNg/fe424fb9-64b3-4277-8289-e1fa9b89a410

    The MIL Network –

  • India’s forex reserves surge by $4.5 billion to cross $690.6 billion mark

    Source: Government of India

    Source: Government of India (4)

    India’s foreign exchange reserves jumped by $4.5 billion to reach $690.62 billion for the week ended May 9, according to data released by the Reserve Bank of India (RBI) on Friday.
     
    Foreign currency assets, the largest component of the reserves, rose by $196 million to $581.37 billion. These assets, expressed in US dollar terms, reflect the impact of appreciation or depreciation in other currencies such as the euro, pound, and yen that are part of the reserves.
     
    Gold reserves also saw a modest increase, rising by $4.5 million to $86.33 billion during the reporting week.
     
    However, special drawing rights (SDRs) declined by $26 million to $18.53 billion, while India’s reserve position with the International Monetary Fund (IMF) fell by $134 million to $4.37 billion, the RBI data showed.
     
    A strengthening foreign exchange reserve position bolsters the rupee against the US dollar and reflects the strong fundamentals of the Indian economy. It also provides the RBI with greater flexibility to manage volatility in the currency markets.
     
    A robust forex kitty allows the central bank to intervene in the spot and forward markets by releasing dollars to curb excessive depreciation of the rupee. On the other hand, a declining reserve base limits the RBI’s ability to defend the currency during turbulent periods.
     
    Meanwhile, India’s external sector continues to gain momentum, with total exports of goods and services registering a strong 12.7% growth in April, reaching $73.80 billion, compared to $65.48 billion in the same month last year. This growth comes despite global economic uncertainties triggered by US tariff hikes, according to data released by the Commerce Ministry on Thursday.
     
    Merchandise exports alone grew by 9.03% to $38.49 billion, driven largely by high-value electronics and engineering goods, underscoring the expansion of India’s manufacturing sector.
     
    Electronic goods exports rose sharply by 39.51% to $3.69 billion in April, up from $2.65 billion a year ago. Engineering goods exports climbed by 11.28% to $9.51 billion, compared to $8.55 billion last April. Exports of gems and jewellery also increased by 10.74% to $2.5 billion, up from $2.26 billion in the corresponding period last year.
     
    — IANS

  • MIL-OSI Economics: APEC Trade Ministers Issue Joint Statement Jeju, Republic of Korea | 16 May 2025 Issued by the APEC Ministers Responsible for Trade The meeting in Jeju reflects APEC’s ongoing efforts to respond to global uncertainties with practical cooperation and forward-looking policy coordination.

    Source: APEC – Asia Pacific Economic Cooperation

    Trade ministers from the 21 APEC member economies met in Jeju, Republic of Korea, for the annual APEC Ministers Responsible for Trade Meeting, chaired by Korean Minister of Trade Cheong Inkyo.

    The meeting concluded with the issuance of a joint statement, reaffirming the commitment to addressing economic challenges facing the region and to creating a more resilient and prosperous Asia-Pacific through strengthened economic cooperation.

    The joint statement underscores APEC’s recognition of the importance of the World Trade Organization (WTO), commitment to advancing digital transformation and promotion of the prosperity through sustainable trade.

    Ministers emphasized the importance of APEC as the premier forum for regional economic cooperation and recognized its role in bringing economies together to address the economic challenges facing the region. They also recognized the importance of the WTO and the need for meaningful, necessary and comprehensive reform to improve all its functions.

    Ministers also discussed the role of artificial intelligence (AI) in trade facilitation, opportunities for deeper economic integration including through the work on Free Trade Area of the Asia-Pacific (FTAAP) agenda and the importance of sustainable supply chains.

    The meeting in Jeju reflects APEC’s ongoing efforts to respond to global uncertainties with practical cooperation and forward-looking policy coordination.

    Read the 2025 APEC Ministers Responsible for Trade Joint Statement

    Also read the 2025 APEC Ministers Responsible for Trade Statement of the Chair

    MIL OSI Economics –

  • MIL-OSI United Kingdom: ODS demonstrates significant economic and social impact

    Source: City of Oxford

    Friday, 16 May 2025

    ODS, the City Council wholly owned provider of essential and commercial services in Oxford and Oxfordshire, has released its 2023/24 Economic Impact Assessment.

    It reveals a total contribution of £65.6 million Gross Value Added (GVA) to the local economy and the support of over 1,150 jobs. 

    Established in 2018, the organisation provides a wide range of statutory and commercial services, including waste management, property maintenance, highways and fleet services. 

    The report, commissioned from SQW, details ODS’s economic, environmental, and social contributions to Oxford and the wider region. SQW are experts in public policy and work with clients to research, implement and evaluate social and economic development. For more details please visit their website. 

    Key findings include: 

    • employment and economic output: In 2023/24, ODS employed 560 people, generating £35.1m in direct GVA. The company’s operations supported a total of 1,154 jobs, including 728 in Oxford 

    Social value and community engagement 

    ODS embeds social impact through a clear commitment to inclusivity, workforce development, and local partnerships. Highlights include: 

    • community partnerships with local schools, charities, and rehabilitation programmes, including employment support for individuals with convictions. 

    Environmental leadership 

    As a holder of ISO 14001 and PAS2030 certifications, ODS is accelerating Oxford’s low-carbon future. Key initiatives include: 

    • maintenance of 900 acres of green spaces, and community education on sustainability through schemes like Podback, which collects and recycles Oxford residents’ coffee pods as part of their kerbside recycling and waste collections, and the Waste Education Programme. 

    Comment 

    “ODS is more than a service provider – it’s an engine for inclusive, sustainable growth in Oxford. This report shows how ODS is delivering economic value while putting social and environmental purpose at the heart of what it does.” 

    “ODS”s sustainability work is essential to support the ambition to make Oxford a greener city. Of course there is more to do. ODS’ Carbon Management Plan charts a path to net zero for the company through investment in clean energy, building decarbonisation, and cultural change.” 
    Councillor Nigel Chapman, Cabinet Member for Citizen Focused Services and Council Companies 

    “It’s great to see the excellent contribution ODS makes across a range of measures in Oxford and beyond as set out in this report by SQW. Our strap line is ODS – Doing Good – and we mean it.” 
    Simon Howick, Managing Director, ODS 

    To read the full report visit the ODS website. 

    About ODS 

    ODS is comprised of ODS Limited (ODSL) and ODS Trading Limited (ODSTL). ODSL delivers statutory services and maintains Oxford City Council’s housing stock. ODSTL offers commercial services to businesses and organisations across the Thames Valley. Together, ODS is a vital contributor to Oxford’s economic resilience, environmental goals, and inclusive community ambitions. 

    MIL OSI United Kingdom –

  • MIL-OSI: Champion Safe Company Supports Inaugural Buckeye Blast Benefiting The Light Foundation

    Source: GlobeNewswire (MIL-OSI)

    Delaware, OH, May 16, 2025 (GLOBE NEWSWIRE) — Champion Safe Company, a leading manufacturer of premium safes and wholly-owned subsidiary of American Rebel Holdings, Inc. (NASDAQ: AREB), America’s Patriotic Brand (americanrebel.com), proudly participated in the inaugural Buckeye Blast sporting clay fundraiser, held at Black Wing Shooting Center in Delaware, Ohio. The event benefited The Light Foundation, a nonprofit founded by former New England Patriots offensive tackle and Ohio native Matt Light.

    As a sponsor of the event, Champion Safe donated one of its top-tier safes as the grand prize for the raffle drawing, helping raise funds to support the Foundation’s mission of empowering young people to reach their highest potential.

    “We’re proud to support the Light Foundation and its mission to build stronger young leaders,” said Tom Mihalek, CEO of Champion Safe Company. “It was a privilege to contribute to such a meaningful event, and we’re thrilled that one of our safes could help generate excitement and support for a great cause.”

    The Buckeye Blast brought together outdoor enthusiasts, community leaders, and supporters of youth development for a day of camaraderie and competition. The funds raised will help The Light Foundation continue its impactful leadership programs, outdoor camps, and mentorship initiatives.

    Matt Light, who grew up in Greenville, Ohio, expressed his gratitude: “Having Champion Safe on board as a sponsor was a huge win for us. Their donation of a safe for the grand prize raffle added excitement to the event and helped us raise critical funds. It’s always great to see Ohio-based events supported by companies that share our values.”

    The event was hosted at Black Wing Shooting Center, a premier firearms and training facility and a proud American Rebel safe dealer.

    For more information about Champion Safe Company, visit championsafe.com. To learn more about The Light Foundation, visit mattlight72.com.

    Contact: ir@americanrebel.com

    About Champion Safe Company

    Champion Safe Company has been at the forefront of safe manufacturing for over 25 years, offering a range of high-quality safes designed for ultimate security and fire protection. With a commitment to craftsmanship and innovation, Champion Safes are trusted by homeowners, gun owners, and businesses across the nation. To learn more, visit: championsafe.com

    About American Rebel Holdings, Inc.

    American Rebel Holdings, Inc. (NASDAQ: AREB) has operated primarily as a designer, manufacturer and marketer of branded safes and personal security and self-defense products and has recently transitioned into the beverage industry through the introduction of American Rebel Beer. The Company also designs and produces branded apparel and accessories. To learn more, visit americanrebel.com and americanrebelbeer.com. For investor information, visit americanrebel.com/investor-relations.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include benefits of participating in the event, actual revenues for fiscal 2025, our ability to effectively execute our business plan, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2023. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

    The MIL Network –

  • MIL-OSI: Onfolio Holdings Inc. Announces First Quarter 2025 Financial Results and Provides Corporate Update

    Source: GlobeNewswire (MIL-OSI)

    WILMINGTON, Del., May 16, 2025 (GLOBE NEWSWIRE) — Onfolio Holdings Inc. (NASDAQ: ONFO, ONFOW) (OTC: ONFOP) (“Onfolio” or the “Company”), a company that primarily acquires and manages a portfolio of digital marketing and online education businesses, announces financial results for the first quarter ended March 31st 2025.

    Financial Highlights

    • First quarter revenue increased 77% to $2.81M vs. $1.58M in the prior year period and increased 12.8% from $2.49M in Q4 of 2024
    • First quarter gross profit increased 70% to $1.7M vs. $1M in the prior year period and increased 28% from $1.32M in Q4 of 2024
    • First quarter total operating expenses increased 71% to $2.49M vs. $1.45M in the prior year period and increased 23% from $2.01M in Q4 of 2024
    • First quarter net loss increased 72% to $0.80M vs. $0.47M in the prior year period and vs. a $0.14M gain in Q4 of 2024
    • Cash at 3/31/25 was $0.67M vs. $0.48M at 12/31/24

    “We substantially increased our revenue and gross profit during the first quarter of 2025. Our cash used in operations decreased to $0.14M, reflecting improvements in both operational discipline and revenue contribution,” said Onfolio Holdings CEO Dominic Wells.

    “While our net loss increased from $0.47M in Q1 2024, to $0.80M in Q1 2025, $0.27M of this was stock-based-compensation, most of which was a one-time expense, as well as $0.17M in higher amortization expense compared to the prior year. Taking these non-cash increases into account, our net loss improved year-on-year. During the first quarter of 2025, we continued our effort to improve operations within our portfolio companies, which has resulted in reduced cost, better efficiency, a renewed focus on organic growth and the development of new services.

    “During the first quarter of 2025, we also raised non-dilutive capital through the sale of our Series A Preferred Shares, which have consistently paid a 12% annual dividend for over four years. The additional capital was primarily used to strengthen our balance sheet and prepare for our next acquisition.

    “We remain highly focused on continued organic growth within our core digital marketing and online education business units and are pursuing strategic acquisitions to strengthen those businesses.

    “If we continue to execute well on our organic and strategic growth initiatives, we could achieve profitability during the second half of 2025,” concluded Dominic Wells.

    About Onfolio Holdings

    Onfolio Holdings acquires controlling interests in and actively manage small online businesses that we believe (i) operate in sectors with long-term growth opportunities, (ii) have positive and stable cash flows, (iii) face minimal threats of technological or competitive obsolescence and (iv) can be managed by our existing team or have strong management teams largely in place. Through the acquisition and growth of a diversified group of online businesses with these characteristics, we believe we offer investors in our shares an opportunity to diversify their own portfolio risk. Visit www.onfolio.com for more information.

    Forward-Looking Statements

    The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words “may” “will,” “should,” “plans,” “explores,” “expects,” “anticipates,” “continues,” “estimates,” “projects,” “intends,” and similar expressions. Examples of forward-looking statements include, among others, statements we make regarding expected operating results, such as revenue growth and earnings, and strategy for growth and financial results.

    Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing new customer offerings, changes in customer order patterns, changes in customer offering mix, continued success in technological advances and delivering technological innovations, delays due to issues with outsourced service providers, those events and factors described by us in Item 1A “Risk Factors” in our most recent Form 10-K and 10Q; other risks to which our Company is subject; other factors beyond the Company’s control. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Onfolio Holdings, Inc.
    Consolidated Balance Sheets
     
          March 31       December 31  
          2025       2024  
                     
    Assets                
    Current Assets:                
    Cash   $ 666,115     $ 476,874  
    Accounts receivable, net     688,763       755,804  
    Inventory     47,027       65,876  
    Prepaids and other current assets     200,763       138,007  
    Total Current Assets     1,602,668       1,436,561  
                     
    Intangible assets     3,022,099       3,323,211  
    Goodwill     4,203,145       4,210,557  
    Fixed Assets     4,707       5,135  
    Due from related party     128,385       126,530  
    Investment in unconsolidated joint ventures, cost method     213,007       213,007  
    Investment in unconsolidated joint ventures, equity method     269,140       268,231  
    Other assets     3,495       9,465  
                     
    Total Assets   $ 9,446,646     $ 9,592,697  
    Liabilities and Stockholders Equity                
                     
    Current Liabilities:                
    Accounts payable and other current liabilities   $ 1,018,752     $ 969,068  
    Dividends payable     105,468       100,797  
    Notes payable, current     526,010       702,634  
    Notes Payable – Related Party, current     –       400,000  
    Contingent consideration     308,943       981,591  
    Deferred revenue     654,971       589,913  
    Total Current Liabilities     2,614,144       3,744,003  
                     
    Notes payable     790,000       450,000  
    Notes payable – related parties     1,049,000       1,049,000  
    Due to joint ventures – long term     –       –  
    Total Liabilities     4,453,144       5,243,003  
                     
    Commitments and Contingencies                
                     
    Stockholders’ Equity:                
    Preferred stock, $0.001 per value, 5,000,000 shares authorized                
    Series A Preferred stock, $0.001 par value, 1,000,000 shares authorized, 165,260 and 134,460 issued and outstanding at March 31, 2025 and December 31, 2024     165       134  
    Common stock, $0.001 par value, 50,000,000 shares authorized, 5,127,395 issued and outstanding at March 31, 2025 December 31, 2024     5,128       5,128  
    Additional paid-in capital     23,459,650       22,316,751  
    Accumulated other comprehensive income     97,152       68,105  
    Accumulated deficit     (19,976,595 )     (19,078,287 )
    Total Onfolio Inc. stockholders equity     3,585,500       3,311,831  
    Non-Controlling Interests     1,408,002       1,037,863  
    Total Stockholders’ Equity     4,993,502       4,349,694  
                     
    Total Liabilities and Stockholders’ Equity   $ 9,446,646     $ 9,592,697  
                     
    The accompanying notes are an integral part of these consolidated financial statements  
       
    Onfolio Holdings, Inc.
    Consolidated Statements of Operations
     
             
        For the Three Months Ended March 31,
        2025   2024
             
             
    Revenue, services   $ 1,796,595     $ 723,551  
    Revenue, product sales     1,015,348       863,351  
    Total Revenue     2,811,943       1,586,902  
                     
    Cost of revenue, services     1,016,860       366,706  
    Cost of revenue, product sales     87,963       215,860  
    Total cost of revenue     1,104,823       582,566  
                     
    Gross profit     1,707,120       1,004,336  
                     
    Operating expenses                
    Selling, general and administrative     2,221,346       1,185,184  
    Professional fees     237,905       180,190  
    Acquisition costs     33,410       94,341  
    Impairment of goodwill and intangible assets     –       –  
    Total operating expenses     2,492,661       1,459,715  
                     
    Loss from operations     (785,541 )     (455,379 )
                     
    Other income (expense)                
    Equity method income (loss)     909       (5,154 )
    Dividend income     2,250       –  
    Interest income (expense), net     (100,720 )     (17,720 )
    Other income     4,983       427  
    Gain on change in fair value of contingent consideration     54,173       –  
    Impairment of investments     –       –  
    Gain on sale of business     –       –  
    Total other income     (38,405 )     (22,447 )
                     
    Loss before income taxes     (823,946 )     (477,826 )
                     
    Income tax (provision) benefit     17,518       –  
                     
    Net loss     (806,428 )     (477,826 )
                     
    Net loss attributable to noncontrolling interest     12,041       664  
    Net loss attributable to Onfolio Holdings Inc.     (794,387 )     (477,162 )
                     
    Preferred Dividends     (103,921 )     (81,645 )
    Net loss to common shareholders   $ (898,308 )   $ (558,807 )
                     
    Net loss per common shareholder                
    Basic and diluted   $ (0.18 )   $ (0.11 )
                     
    Weighted average shares outstanding                
    Basic and diluted     5,127,395       5,107,395  
                     
    The accompanying notes are an integral part of these consolidated financial statements  
       
    Onfolio Holdings, Inc.
    Consolidated Statements of Stockholders’ Equity
    For the Three Months Ended March 31, 2025 and 2024
     
        Preferred Stock,
    $0.001 Par value    		   Common Stock,
    $0.001 Par Value    		    Additional    Accumulated   Accumulated
    Other    		    Non    Stockholders’ 
        Shares   Amount   Shares   Amount   Paid-In Capital   Deficit   Comprehensive
    Income    		   Controlling
    Interest    		   Equity
                                         
    Balance, December 31, 2024     134,460     $ 134       5,127,395     $ 5,128     $ 22,316,751     $ (19,078,287 )   $ 68,105     $ 1,037,863     $ 4,349,694  
                          –       –               –       –       –       –  
    Sale of preferred stock for cash     28,000       28       –       –       699,972       –       –       –       700,000  
    Preferred stock and common stock options issued for payment of contingent consideration     2,800       3       –       –       169,997       –       –       –       170,000  
    Stock-based compensation     –       –       –       –       272,930       –       –       –       272,930  
    Payment of note payble by NCI                                                             400,000       400,000  
    Preferred dividends     –       –       –       –       –       (103,921 )     –       –       (103,921 )
    Foreign currency translation     –       –       –       –       –       –       29,047       –       29,047  
    Distribution to non-controlling interest                                                             (17,820 )     (17,820 )
    Net loss     –       –       –       –       –       (794,387 )     –       (12,041 )     (806,428 )
                                                                             
    Balance, March 31, 2025     165,260       165       5,127,395       5,128       23,459,650       (19,976,595 )     97,152       1,408,002       4,993,502  
                                                                             
    Balance, December 31, 2023     92,260       93       5,107,395       5,108       21,107,311       (16,957,854 )     182,465       –       4,337,123  
                                                                             
    Acquisition of Business     17,000       17       –       –       484,983       –       –       126,000       611,000  
    Sale of preferred stock for cash     400       –       –       –       10,000       –       –       –       10,000  
    Stock-based compensation     –       –       –       –       17,887       –       –       –       17,887  
    Preferred dividends     –       –       –       –       –       (81,645 )     –       –       (81,645 )
    Foreign currency translation     –       –       –       –       –       –       (39,134 )             (39,134 )
    Distribution to non-controlling interest     –       –       –       –       –       –       –       –       –  
    Net loss     –       –       –       –       –       (477,826 )     –       (664 )     (478,490 )
                                                                             
    Balance, March 31, 2024     109,660     $ 110       5,107,395     $ 5,108     $ 21,620,181     $ (17,517,325 )   $ 143,331     $ 125,336     $ 4,376,741  
                                                                             
    The accompanying notes are an integral part of these consolidated financial statements
     
    Onfolio Holdings, Inc.
    Consolidated Statements of Cash Flows
    For the Three Months Ended March 31, 2025 and 2024
     
             
          2025       2024  
                     
    Cash Flows from Operating Activities                
    Net loss   $ (806,428 )   $ (477,826 )
    Adjustments to reconcile net loss to net cash provided by operating activities:                
    Stock-based compensation expense     272,930       17,887  
    Equity method loss (income)     (909 )     5,154  
    Dividends received from equity method investment     –       –  
    Amortization of intangible assets     301,112       125,219  
    Depreciation expense     428          
    Impairment of intangible assets     –       –  
    Change in FV of contingent consideration     (54,173 )     –  
    Net change in:                
    Accounts receivable     67,041       (33,681 )
    Inventory     18,849       117  
    Prepaids and other current assets     (56,786 )     (81,328 )
    Accounts payable and other current liabilities     49,684       (33,390 )
    Due to joint ventures     (1,855 )     3,557  
    Deferred revenue     65,058       34,284  
    Due to related parties     –       9,000  
                     
    Net cash used in operating activities     (145,049 )     (431,007 )
                     
    Cash Flows from Investing Activities                
    Cash paid to acquire businesses     –       (240,000 )
    Investments in unconsolidated entities     –       (10,000 )
    Investment in cryptocurrency     –       –  
    Net cash used in investing activities     –       (250,000 )
                     
    Cash Flows from Financing Activities                
    Proceeds from sale of Series A preferred stock     700,000       10,000  
    Proceeds from exercise of stock options     –       –  
    Payments of preferred dividends     (99,250 )     (70,122 )
    Distributions to non-controlling interest holders     (17,820 )     –  
    Proceeds from notes payable     –       350,000  
    Payments on note payables     (176,624 )     (25,743 )
    Payments on acquisition note payables     –       –  
    Proceeds from notes payable – related parties     –       –  
    Payments on note payables – related parties     –       –  
    Payments on contingent consideration     (108,475 )     –  
                     
    Net cash provided by financing activities     297,831       264,135  
                     
    Effect of foreign currency translation     36,459       (35,612 )
                     
    Net Change in Cash     189,241       (452,484 )
    Cash, Beginning of  Period     476,874       982,261  
                     
    Cash, End of Period     666,115     $ 529,777  
                     
    Cash Paid For:                
    Income Taxes   $ –     $ –  
    Interest   $ 100,720     $ 18,360  
                     
    Non-cash transactions:                
    Preferred dividends accrued   $ 103,921     $ 81,645  
    Notes payable issued for asset acquisitions   $ –     $ 440,000  
    Preferred stock issued for acquisitions   $ –     $ 425,000  
    Settlement of contingent consideration   $ 510,000     $ –  
    Non-controlling interest issued for settlement of note payable   $ 400,000     $ –  
                     
    The accompanying notes are an integral part of these consolidated financial statements         

    The MIL Network –

  • MIL-OSI: Security National Financial Corporation Reports Financial Results for the Quarter Ended March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    SALT LAKE CITY, May 16, 2025 (GLOBE NEWSWIRE) — Security National Financial Corporation (SNFC) (NASDAQ symbol “SNFCA”) announced financial results for the quarter ended March 31, 2025.

    For the three months ending March 31, 2025, SNFC’s after tax earnings decreased approximately 42%, or $3.1MM, from $7,475,000 in 2024 to $4,338,000 in 2025. Pre Tax earnings decreased approximately 42%, or $4.05MM, to $5.571MM (please see the table below).

    Scott Quist, Chairman of the Board, President, and Chief Executive Officer of SNFC, said, “A decrease in quarterly income is never our goal and falls below our self-set standards. Despite the decrease in net income, I believe that as a Company we performed operationally pretty well. Our Insurance Segment had its second best Q1 out of the last 5 years and our Death Care Segment had its 3rd best Q1 out of the last 5 years, which time period, it is important to note, includes the pandemic. Speaking now of our decrease in net income, of the approximate $4.05MM decrease in pretax quarterly income (see the table below), about 75%, or roughly $3MM, is attributable to decreases in both our realized and unrealized investment income. Our investment income can be, and is, “lumpy” between quarters and years, primarily due to its close relationship to real estate activities (home closings/lot sales) and secondarily to public equity markets.

    Speaking to our $3MM decline in investment income, and referring to that portion directly related to real estate activities, roughly 56%, or $1.7MM, is related to decreased construction profits and decreased gains on the sale of residential lots from our builder relationships. We simply participated in fewer home closings in Q1 2025 than in Q1 2024. I believe it is fair to say that in Q1 2025 the builders with whom we have profit-sharing relationships had more homes in the process of being built, but fewer closings. Margins appear to be consistent with 2024’s experience, but margins are always in issue until a home sale closes. Lastly, as a general real estate market comment, housing inventories and “days on market” appear to have increased, but not to a degree that causes alarm.

    Roughly 42%, or $1.25MM of our $3MM investment income decline, is due to stock market declines in Q1. Generally speaking, we have chosen to not liquidate our positions, so the aforementioned loss is simply a recognized, but unrealized, stock market loss as of March 31, 2025.

    Roughly $900K, or 22%, of the $4.05MM decrease in pretax income is related to an increase in our bad debt expense as prescribed by the adoption of CECL (Current Expected Credit Losses) in Q1 2024. Arguments can be credibly made that this accounting rule is simply another element of our investment income. In my view, CECL is a very formulaic and forward-looking calculation that places a heavier weight on outside factors at the time an asset is acquired and less weight on the company’s experience over the course of time. Time will tell if the Company’s allowances are appropriate, but in my view CECL did change, and does have the potential to further change in the future, the Company’s bad debt allowances based on factors that are outside of its control.

    After accounting for the investment income and related decreases, the remaining elements causing the decrease in income are smaller in net impact and are much more numerous and nuanced. One element that probably merits comment is Personnel Costs. Personnel Costs rose 11.7%, or roughly $2.2MM, over 2024. Roughly speaking 5 percentage points of that increase relates to general annual compensation increases for both staff and management. We find it important to remain marketplace competitive in our compensation or our experienced staff are recruited away from us. The remaining increase relates to increased staffing, pretty much across all levels. We are constantly reviewing operational costs to ensure that we remain operationally efficient, but the majority of this increase represents very deliberate strategic hirings of high-quality, high-performing individuals to augment our sales and fulfillment staffs where we determined that we needed greater capability to reach our growth goals. Growth is expensive but is nevertheless our constant goal. We believe these increased Personnel Costs to be necessary investments which will yield returns in the years to come.

    Despite the decrease in income, many accomplishments were made in the first quarter. In our Death Care Segment we increased families served by 4%, in what we believe to be a flat to declining mortality climate. In our Insurance Segment we have improved our premium margin by several percentage points, reflecting the increased premium rates we have been implementing over the last several years. The full effect of those margin increases will not be apparent for several years hence. In our Mortgage Segment we increased volume by 11% in Q1 2025 over Q1 2024, with an improved mix of products. Importantly, our Mortgage Segment was both profitable and cash flow positive in March.”

    SNFC has three business segments. The following table shows the revenues and earnings before taxes for the three months ended March 31, 2025, as compared to 2024, for each business segment:

      Revenues   Earnings before Taxes
       2025    2024         2025       2024      
    Life Insurance $ 49,287,000   $ 49,971,000   (1.4%)   $ 5,327,000     $ 8,530,000     (37.5%)
                           
    Cemeteries/Mortuaries $ 8,119,000   $ 8,787,000   (7.6%)   $ 2,238,000     $ 3,053,000     (26.7%)
                           
    Mortgages $ 25,334,000   $ 22,430,000   12.9%   $ (1,994,000 )   $ (1,964,000 )   (1.5%)
                           
    Total $ 82,740,000   $ 81,188,000   1.9%   $ 5,571,000     $ 9,619,000     (42.1%)
                           

    Net earnings per common share was $.18 for the three months ended March 31, 2025, compared to net earnings of $.31 per share for the prior year, as adjusted for the effect of annual stock dividends. Book value per common share was $14.68 as of March 31, 2025, compared to $14.45 as of December 31, 2024.

    The Company has two classes of common stock outstanding, Class A and Class C. There were 23,601,718 Class A equivalent shares outstanding as of March 31, 2025.

    This press release contains statements that, if not verifiable historical fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to Security National Financial Corporation and its business. The predictions in the statements will involve risk and uncertainties and, accordingly, actual results may differ significantly from the results discussed or implied in such forward-looking statements.

    If there are any questions, please contact Mr. Garrett S. Sill or Mr. Scott M. Quist at:

    Security National Financial Corporation
    P.O. Box 57250
    Salt Lake City, Utah 84157
    Phone (801) 264-1060
    Fax (801) 265-9882

    The MIL Network –

  • MIL-OSI: FRO – Invitation to Q1 2025 Results Conference Call and Webcast

    Source: GlobeNewswire (MIL-OSI)

    Frontline plc.’s preliminary first quarter 2025 results will be released on Friday May 23, 2025, and a webcast and conference call will be held at 3:00 p.m. CET (9:00 a.m. U.S. Eastern Time). The results presentation will be available for download from the Investor Relations section at www.frontlineplc.cy ahead of the conference call.

    In order to attend the conference call you may do one of the following:

    a. Webcast
    Go to the Investor Relations section at www.frontlineplc.cy and follow the “Webcast” link, or access directly from the link below.

    Frontline plc Q1 2025 Webcast

    b. Conference Call
    Participants will need to register online prior to the conference call via the link below. Dial-in details will be available when registered.             

    Frontline plc Q1 2025 Conference Call

    A Q&A session will be held after the teleconference/webcast. Information on how to submit questions will be given at the beginning of the session.

    The presentation material which will be used in the teleconference/webcast can be downloaded from https://www.frontlineplc.cy/

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

    The MIL Network –

  • MIL-OSI: Prosafe SE: Extraordinary General Meeting completed

    Source: GlobeNewswire (MIL-OSI)

    16 May 2025 – An Extraordinary General Meeting (EGM) of Prosafe SE (the “Company“) was held today as a virtual meeting via Lumi. All proposals on the agenda were adopted in accordance with the notice of the EGM that was published by the Company on 25 April 2025.

    The minutes from the Extraordinary General Meeting are attached hereto and can be downloaded from http://www.newsweb.no and https://www.prosafe.com.

    For further information, please contact:

    Terje Askvig, CEO Phone: +47 952 03 886

    Reese McNeel, CFO Phone: +47 415 08 186

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

    Attachment

    The MIL Network –

  • MIL-OSI Russia: China-SCO E-Commerce Business Meeting Held in Qingdao

    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

    BEIJING, May 16 (Xinhua) — The China-SCO E-Commerce Business Meeting was held in Qingdao, east China’s Shandong Province, on Thursday, the Gongren Ribao (Workers’ Daily) newspaper reported.

    The event, held at the China-SCO Regional Economic and Trade Cooperation Demonstration Zone, attracted representatives from 40 e-commerce enterprises from Iran, Kazakhstan, Afghanistan and Belarus. Domestic e-commerce giants JD, Alibaba and 120 other companies also took part. The participants discussed issues related to agricultural products, manufacturing industry and digital platforms.

    E-commerce is considered one of the most promising areas of trade and economic cooperation between the SCO states. The purpose of the business meeting is to promote the establishment of multi-level, large-scale and institutionalized cooperation relations between enterprises of China and other countries of the said organization in the field of cross-border e-commerce.

    According to data released during the business meeting, by the end of 2024, the volume of online retail sales in the SCO member states reached USD 3.2 trillion. Its share in the world exceeded 50%.

    In particular, imports to China from other SCO member states through cross-border e-commerce last year amounted to US$53 million, up 34 percent year-on-year.

    The event was organized by the China International E-Commerce Center and the Shandong Provincial Commerce Department, with the support of the Ministry of Commerce of the People’s Republic of China and the SCO Secretariat. -0-

    MIL OSI Russia News –

  • MIL-OSI: XRP News: XenDex Almost Sells Out Presale Before DEX Launch As XRP Price Keeps Going Up, Buy $XDX Now And Make Profits When Listed On Exchange

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, May 16, 2025 (GLOBE NEWSWIRE) — As XRP gains major traction in global markets, XenDex is cementing its place as the most promising decentralized exchange on the XRP Ledger, and time is quickly running out to join early.

    The $XDX presale has already surpassed its soft cap, and with the hard cap now nearly filled, investor demand has pushed XenDex into the final phase of its presale. With token prices set to rise significantly upon listing, this is the last opportunity to secure $XDX at launch pricing.

    Buy $XDX Now Before Listing On Binance

    This surge in interest comes as XRP’s momentum explodes following a string of historic developments: the SEC’s lawsuit withdrawal, Judge Torres’ favorable rulings, and the approval of ProShares’ XRP Futures ETF. Combined with Brazil’s first XRP Spot ETF, market confidence is soaring and many now believe XRP could hit $1,000 in the long run.

    What Is XenDex?

    XenDex is building the first all-in-one DEX for XRPL, with Version 1 currently in development. A full platform mockup will be revealed soon, showcasing:

    • AI Copy Trading
    • Non-Custodial Lending & Borrowing
    • Cross-Chain Trading (BNB, Solana, Ethereum)

    Join XenDex Presale

    Only $XDX presale buyers will get early access to the XenDex platform upon launch.

    $XDX Presale Details

    • Price: 1.25 XRP = 10 XDX
    • Minimum Buy: 150 XRP

    Buy Now Before It’s Too Late: https://xendex.net/presale

    Exchange Listings Confirmed

    Post-presale, $XDX will be listed on:

    • Binance
    • Gate.io
    • MEXC
    • BitMart
    • FirstLedger
    • MagneticX

    Thousands have already joined the XenDex community across Telegram and X (Twitter), locking in their $XDX tokens before exchange listings go live. With the soft cap filled, token supply shrinking, and momentum building by the hour, this is your last best opportunity to buy before price pressure explodes.

    Buy XDX Token Now on XenDex

    With the XRP market booming as a result of the SEC’s lawsuit withdrawal, Judge Torres’ favorable rulings, and the approval of ProShares’ XRP Futures ETF, combined with Brazil’s first XRP Spot ETF, market confidence is soaring and many now believe XRP could hit $1,000 in the long run, XenDex is set to launch soon, this is your last chance to buy low before listings go live.

    Be among the first to use the platform. Join the DeFi revolution on XRP.

    Join the XenDex Movement

    Website: https://xendex.net
    Presale: https://xendex.net/presale
    Telegram: https://t.me/xendexcommunity
    Twitter/X: https://x.com/xendex_xrp
    Docs: https://xdxdocs.gitbook.io

    Contact:
    Frank Richards
    Frank@xendex.net

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

    Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.
    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/61ed758c-715d-4a82-9315-f1de9597bb74

    The MIL Network –

  • MIL-OSI: Zraox Secures U.S. SEC License, Enhancing Compliance and Private Equity Financing Channels

    Source: GlobeNewswire (MIL-OSI)

    GREENWOOD VILLAGE, Colo., May 16, 2025 (GLOBE NEWSWIRE) — Recently, the global digital asset exchange Zraox announced that its operating entity, Zraox Blockchain Trading LTD, has successfully obtained Regulation D (Reg D) approval from the U.S. Securities and Exchange Commission (SEC). This achievement signifies that, under certain conditions, Zraox Blockchain Trading LTD can conduct private securities offerings to specific investors, providing more flexible development opportunities for the deep integration of the Zraox platform within the compliant and professional investment market.

    Regulation D is a crucial provision in U.S. securities law, allowing companies to raise funds from specific investors (particularly accredited investors) without full registration. With this approval, Zraox Blockchain Trading LTD can conduct multi-scale and multi-type private offerings under Rule 504 and Rule 506. The former applies to smaller financings up to $5 million within 12 months, while the latter covers larger fundraising needs.

    This filing establishes a new foundation for the deep collaboration of Zraox with accredited investors, private equity funds, and family offices. Leveraging the exemptions provided by Regulation D, Zraox can more efficiently and diversely advance its private financing activities in the U.S. market, including digital token issuance, cross-border asset allocation, and institutional clearing.

    Anne Wagner, Chief Compliance Officer (CCO) of Zraox, stated: “The acquisition of Regulation D approval by Zraox Blockchain Trading LTD is a significant milestone in our private financing and securitized token issuance efforts. In the future, Zraox will maintain close communication with U.S. regulatory authorities and actively expand compliant products and services for institutional clients, hedge funds, and family offices.”

    This filing not only aids Zraox in offering more flexible financing options to high-net-worth clients and professional investors in the U.S. market but also further enhances the platform business layout in cross-border asset allocation, institutional settlement, and compliant token issuance.

    Looking ahead, Zraox plans to leverage this compliance qualification to synergize with its existing licenses, accelerating the development of institutional services and cross-border settlement functions, and exploring the practical applications of stablecoins and digital tokens in payment, clearing, and trading scenarios. By continuously improving the connection mechanisms between blockchain assets and traditional capital markets, Zraox is committed to creating a more comprehensive and innovative financing and trading ecosystem for global accredited investors and digital financial projects.

    The MIL Network –

  • MIL-OSI: Codere Online Reports Financial Results for the First Quarter 2025

    Source: GlobeNewswire (MIL-OSI)

    • Total revenue was €54.3 mm in Q1 2025, while net gaming revenue1 was €57.0 mm in the period, 8% above Q1 2024 (17% in constant currency terms).
    • Mexico revenue was €27.6 mm in Q1 2025, while net gaming revenue was €30.5 mm in the period, 15% above Q1 2024 (34% in constant currency terms).
    • Net loss was €0.7 mm in Q1 2025 versus a net income of €3.4 mm in Q1 2024.
    • Total cash position of €41.8 mm as of March 31, 2025.
    • Reiterating 2025 net gaming revenue outlook of €220-230 million and Adj. EBITDA2 outlook of €10-15 million.
    • Repurchased $0.5 million of the Company’s shares under the Company’s $5.0 million share buyback plan through May 15, 2025.

    Madrid, Spain and Tel Aviv, Israel, May 16, 2025 – (GLOBE NEWSWIRE) Codere Online (Nasdaq: CDRO / CDROW, the “Company”), a leading online gaming operator in Spain and Latin America, has released its preliminary unaudited3 financial results for the quarter ended March 31, 2025.

    Below are the main financial and operating metrics of the period.

      Quarter ended March 31
      2024 2025 Chg. %
           
    Net Gaming Revenue (EUR mm)1      
    Spain 22.3 21.9 (2%)
    Mexico 26.6 30.5 15%
    Other 4.1 4.5 10%
    Total 53.0 57.0 8%
           
    Avg. Monthly Active Players (000s)4      
    Spain 50.0 52.0 4%
    Mexico 62.5 82.0 31%
    Other 30.6 27.2 (11%)
    Total 143.2 161.3 13%

    Aviv Sher, CEO of Codere Online, stated, “We are off to a good start in 2025, with net gaming revenue reaching €57.0 million in the first quarter, an 8% increase compared to the same period last year. In Mexico, net gaming revenue grew 15% to €30.5 million, despite the 16% devaluation of the Mexican peso. Meanwhile, net gaming revenue in Spain was slightly below last year’s at €21.9 million.”

    Oscar Iglesias, CFO of Codere Online, commented, “We are very pleased with our performance in Mexico and the underlying trends in local currency. Also, our portfolio of active customers grew by an impressive 31% versus the prior year quarter which is quite encouraging”.

    Mr. Iglesias added, “Based on these results, we believe that we are on track to meet our net gaming revenue outlook of €220-230 million and Adj. EBITDA outlook of €10-15 million that we provided to investors earlier this year.”

    Recent Events

    Compliance with Nasdaq Listing Requirements

    • On May 1, 2025, the Company filed its 2023 annual report (ahead of the May 12th deadline) and on May 15th, Nasdaq informed the Company that it had regained compliance with applicable listing requirements.
    • The Company is actively working to complete the audit of its 2024 financial accounts and expects to file the 2024 annual report by the end of this month. However, as we did not file by May 15th (i.e. within the 15-day grace period provided for), we expect that a delisting notice from Nasdaq is forthcoming.
    • Upon receipt of said delisting notice, the Company will promptly request a hearing with the Nasdaq Hearings Panel and seek a stay of any trading suspension; however, the Company expects to file the 2024 annual report and regain compliance with Nasdaq requirements ahead of any hearing.

    Repurchases under the Share Buyback Plan

    • At a general meeting held on March 3, 2025, Codere Online shareholders authorized the repurchase of up to 1 million of the Company’s ordinary shares over a one-year period (for a total investment of up to $5.0 million, as approved by the Company’s Board of Directors).
    • The Company repurchased 68,384 shares at an average price of $6.63 under the authorized share buyback plan through May 15, 2025.

    Conference Call Information

    Codere Online’s management will host a conference call to discuss the results and provide a business update at 8:30 am US Eastern Time today, May 16, 2025. Dial-in details as well as the audio webcast and presentation will be accessible on Codere Online’s website at www.codereonline.com. A recording of the webcast will also be available following the conference call.

    Reconciliation of Revenue (IFRS) to Net Gaming Revenue (non-IFRS)

      Quarter ended March 31
    Figures in EUR mm 2024 2025 Chg. %
           
    Total      
           
    Revenue 50.4 54.3 4%
    (+) Accounting Adjustments5 2.6 2.6 69%
    Net Gaming Revenue 53.0 57.0 8%
           
    Spain      
           
    Revenue 22.3 21.9 (2%)
    (+) Accounting Adjustments5 – – n.m.
    Net Gaming Revenue 22.3 21.9 (2%)
           
    Mexico      
           
    Revenue 23.8 27.6 16%
    (+) Accounting Adjustments5 2.7 2.9 7%
    Net Gaming Revenue 26.6 30.5 15%
           
    Other      
           
    Revenue 4.3 4.8 (30%)
    (+) Accounting Adjustments5 (0.2) (0.3) n.m.
    Net Gaming Revenue 4.1 4.5 10%

    Reconciliation of Net Income (IFRS) to Adj. EBITDA (non-IFRS)6

      Quarter ended March 31
    Figures in EUR mm 2024 2025 Chg.
           
    Net Income (Loss) 3.4 (0.7) (3.4)
    (+/-) Provision for Corporate Income Tax 0.5 0.2 (0.1)
    (+/-) Interest Expense / (Income) (4.8) 1.1 5.8
    (+/-) Var. In Fair Value of Public Warrants 1.9 0.5 (1.4)
    (+) D&A 0.0 0.2 0.2
    EBITDA 0.9 1.3 1.1
    (+) Employee LTIP Expense 0.6 0.5 (0.6)
    (+/-) Other Accounting Adjustments 0.2 0.0 (0.4)
    Adj. EBITDA (Pre Non-Recurring Items) 1.7 1.8 0.1
    (+) Non-Recurring Items 0.0 0.0 0.0
    Adj. EBITDA 1.7 1.8 0.1

    About Codere Online

    Codere Online refers, collectively, to Codere Online Luxembourg, S.A. and its subsidiaries. Codere Online, launched in 2014 as part of the renowned casino operator Codere Group, offers online sports betting and online casino through its state-of-the art website and mobile applications. Codere Online currently operates in its core markets of Spain, Mexico, Colombia, Panama and Argentina; this online business is complemented by Codere Group’s physical presence in Spain and throughout Latin America, forming the foundation of the leading omnichannel gaming and casino presence.

    About Codere Group
    Codere Group is a multinational group devoted to entertainment and leisure. It is a leading player in the private gaming industry, with four decades of experience and with presence in seven countries in Europe (Spain and Italy) and Latin America (Argentina, Colombia, Mexico, Panama, and Uruguay).

    Note on Rounding. Due to decimal rounding, numbers presented throughout this report may not add up precisely to the totals and subtotals provided, and percentages may not precisely reflect the absolute figures.

    Forward-Looking Statements
    Certain statements in this document may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding Codere Online Luxembourg, S.A. and its subsidiaries (collectively, “Codere Online”) or Codere Online’s or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “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. Forward-looking statements in this document may include, for example, statements about Codere Online’s financial performance and, in particular, the potential evolution and distribution of its net gaming revenue; any prospective and illustrative financial information; and changes in Codere Online’s strategy, future operations and target addressable market, financial position, estimated revenues and losses, projected costs, prospects and plans as well as he Company’s expectations about the timing of completion and filing of the Form 20-F for the year ended December 31, 2024 (the “2024 Annual Report”), and statements related to the Company’s plan, timing and actions taken to regain compliance with the Listing Rule 5250(c)(1).

    These forward-looking statements are based on information available as of the date of this document and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing Codere Online’s or its management team’s views as of any subsequent date, and Codere Online does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

    As a result of a number of known and unknown risks and uncertainties, Codere Online’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements. There may be additional risks that Codere Online does not presently know or that Codere Online currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Some factors that could cause actual results to differ include (i) changes in applicable laws or regulations, including online gaming, privacy, data use and data protection rules and regulations as well as consumers’ heightened expectations regarding proper safeguarding of their personal information, (ii) the impacts and ongoing uncertainties created by regulatory restrictions, changes in perceptions of the gaming industry, changes in policies and increased competition, and geopolitical events such as war, (iii) the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities, (iv) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Codere Online operates, (v) the risk that Codere Online and its current and future collaborators are unable to successfully develop and commercialize Codere Online’s services, or experience significant delays in doing so, (vi) the risk that Codere Online may never achieve or sustain profitability, (vii) the risk that Codere Online will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all, (viii) the risk that Codere Online experiences difficulties in managing its growth and expanding operations, (ix) the risk that third-party providers, including the Codere Group, are not able to fully and timely meet their obligations, (x) the risk that the online gaming operations will not provide the expected benefits due to, among other things, the inability to obtain or maintain online gaming licenses in the anticipated time frame or at all, (xi) the risk that Codere Online is unable to secure or protect its intellectual property, (xii) the risk that Codere Online’s securities may be delisted from Nasdaq and (xiii) the possibility that Codere Online may be adversely affected by other political, economic, business, and/or competitive factors. Additional information concerning certain of these and other risk factors is contained in Codere Online’s filings with the U.S. Securities and Exchange Commission (the “SEC”). All subsequent written and oral forward-looking statements concerning Codere Online or other matters and attributable to Codere Online or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.

    Financial Information and Non-GAAP Financial Measures
    Codere Online’s financial statements are prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”), which can differ in certain significant respects from generally accepted accounting principles in the United States of America (“U.S. GAAP”).

    This document includes certain financial measures not presented in accordance with U.S. GAAP or IFRS (“non-GAAP”), such as, without limitation, net gaming revenue, Adjusted EBITDA and constant currency information. These non-GAAP financial measures are not measures of financial performance in accordance with U.S. GAAP or IFRS and may exclude items that are significant in understanding and assessing Codere Online’s financial results. Therefore, these measures should not be considered in isolation or as an alternative to revenue, net income, cash flows from operations or other measures of profitability, liquidity or performance under U.S. GAAP or IFRS. You should be aware that Codere Online’s presentation of these measures may not be comparable to similarly-titled measures used by other companies. In addition, the audit of Codere Online’s financial statements in accordance with PCAOB standards, may impact how Codere Online currently calculates its non-GAAP financial measures, and we cannot assure you that there would not be differences, and such differences could be material.

    Codere Online believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends in comparing Codere Online’s financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. These non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. Reconciliations of non-GAAP financial measures to their most directly comparable measure under IFRS are included herein.

    This document may include certain projections of non-GAAP financial measures. Codere Online is unable to quantify certain amounts that would be required to be included in the most directly comparable U.S. GAAP or IFRS financial measures without unreasonable effort, due to the inherent difficulty and variability of accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such comparable measures or such reconciliation that have not yet occurred, are out of our control, or cannot be reasonably predicted, ascertained or assessed, which could have a material impact on its future IFRS financial results. Consequently, no disclosure of estimated comparable U.S. GAAP or IFRS measures is included and no reconciliation of the forward-looking non-GAAP financial measures is included.

    Use of Projections
    This document contains financial forecasts with respect to Codere Online’s business and projected financial results, including net gaming revenue and adjusted EBITDA. Codere Online’s independent auditors have not audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this document, and accordingly, they did not express an opinion or provide any other form of assurance with respect thereto for the purpose of this document. These projections should not be relied upon as being necessarily indicative of future results. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. See “Forward-Looking Statements” above. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of Codere Online or that actual results will not differ materially from those presented in the prospective financial information. Inclusion of the prospective financial information in this document should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved.

    For further information on the limitations and assumptions underlying these projections, please refer to Codere Online’s filings with the SEC.

    Preliminary Information
    This document contains figures, financial metrics, statistics and other information that is preliminary and subject to change (the “Preliminary Information”). The Preliminary Information has not been audited, reviewed, or compiled by any independent registered public accounting firm. This Preliminary Information is subject to ongoing review including, where applicable, by Codere Online’s independent auditors. Accordingly, no independent registered public accounting firm has expressed an opinion or any other form of assurance with respect to the Preliminary Information. During the course of finalizing such Preliminary Information, adjustments to such Preliminary Information presented herein may be identified, which may be material. Codere Online undertakes no obligation to update or revise the Preliminary Information set forth in this document as a result of new information, future events or otherwise, except as otherwise required by law. The Preliminary Information may differ from actual results. Therefore, you should not place undue reliance upon this Preliminary Information. The Preliminary Information is not a comprehensive statement of financial results, and should not be viewed as a substitute for full financial statements prepared in accordance with IFRS. In addition, the Preliminary Information is not necessarily indicative of the results to be achieved in any future period.

    No Offer or Solicitation
    This document does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

    Trademarks
    This document may contain trademarks, service marks, trade names and copyrights of Codere Online or other companies, which are the property of their respective owners. Solely for convenience, some of the trademarks, service marks, trade names and copyrights referred to in this document may be listed without the TM, SM, © or ® symbols, but Codere Online will assert, to the fullest extent under applicable law, the rights of the applicable owners, if any, to these trademarks, service marks, trade names and copyrights.

    Industry and Market Data
    In this document, Codere Online relies on and refers to certain information and statistics obtained from publicly available information and third-party sources, which it believes to be reliable. Codere Online has not independently verified the accuracy or completeness of any such publicly-available and third-party information, does not make any representation as to the accuracy or completeness of such data and does not undertake any obligation to update such data after the date of this document. You are cautioned not to give undue weight to such industry and market data.

    Contacts:

    Investors and Media
    Guillermo Lancha
    Director, Investor Relations and Communications
    Guillermo.Lancha@codere.com
    (+34) 628.928.152

    1 Net Gaming Revenue is a non-IFRS measure; please see reconciliation of Net Gaming Revenue to Revenue at the end of the report.

    2 Adjusted EBITDA is a non-IFRS measure; please see reconciliation of Adjusted EBITDA to Net Income at the end of the report. Net gaming revenue and Adjusted EBITDA outlooks are forward-looking non-IFRS measures; please see important disclaimers at the end of the report.
    3 See “Preliminary Information” below.        

    4 Average Monthly Active Players include real money (i.e. exclude free bets) sports betting and casino actives.

    5 Figures primarily reflect differences in recognition of revenue related to certain partner and affiliate agreements in place in Colombia, VAT impact from entry fees in Mexico and the impact from the application of inflation accounting (IAS 29) in Argentina.

    6 Please refer to page 26 of our Q1 2025 Earnings Presentation for further details regarding this reconciliation.

    The MIL Network –

  • APEC highlights ‘fundamental challenges’ in global trade as tariffs overshadow meeting

    Source: Government of India

    Source: Government of India (4)

    The Asia-Pacific Economic Cooperation group adopted a statement on Friday that cited “fundamental challenges” facing the global trading system, but stopped short of discussing a joint response to U.S. tariffs looming large over its meeting.

    The annual gathering is the first major multilateral trade gathering since U.S. President Donald Trump’s announcement of sweeping tariffs that hit more than half of the 21 members of the bloc with U.S. import duties in excess of the 10% minimum.

    “We are concerned with the fundamental challenges faced by the global trading system,” APEC members said in the joint statement.

    They also said they remained committed to APEC as the main forum for regional economic cooperation and addressing the economic challenges facing the Asia-Pacific region.

    The statement expressed support for the continued role of the World Trade Organization, while noting its shortcomings.

    “We recognise the importance of the WTO to advance trade issues, and acknowledge the agreed-upon rules in the WTO as an integral part of the global trading system.”

    The statement also said that “the WTO has challenges and needs meaningful, necessary, and comprehensive reform to improve all its functions, through innovative approaches, to be more relevant and responsive in light of today’s realities”.

    The Trump administration views the WTO as a body that has enabled China to gain an unfair export advantage and has recently moved to suspend U.S. funding to the institution.

    Kim Yong Jin, a management professor at Sogang University in Seoul, said the joint statement reflected U.S. claims “they are at a disadvantage under WTO, and that needs to be fixed.”

    APEC warned at the start of the meeting that exports from a region that accounts for around half of world trade would slow sharply this year as a result of the U.S. tariffs.

    Earlier on Friday, some diplomats from member countries had expressed doubts the group would even be able to adopt a joint statement, although they said South Korea Minister for Trade, Cheong In-kyo, had pushed hard for some consensus.

    “There was new momentum created through these meetings to overcome a difficult situation … as APEC urged a trans-regional effort to break through uncertainties engulfing the global economy,” Cheong told a briefing.

    In February, a Group of 20 meeting of finance ministers and central bankers in Cape Town failed to agree a joint communique after top officials from several countries, including the United States, skipped it.

    Cheong said there was no “official” discussion about a joint response to U.S. tariffs, despite pressure from some members for such talks.

    “From our standpoint, it is difficult to jointly respond because each country is in a completely different situation,” he said.

    APEC is a non-binding regional economic forum established in 1989 to facilitate deepening ties in the Asia-Pacific region, with the United States, China, countries in Latin America and Southeast Asia, as well as Hong Kong and Taiwan among its member economies.

    BILATERAL MEETINGS

    For many of the member economies, the attendance of U.S. Trade Representative Jamieson Greer raised the stakes of the conference held on South Korea’s Jeju Island, ahead of a leaders’ summit scheduled later in the year.

    On the first day, many, if not all, of the representatives had or sought a meeting with Greer, according to host country officials.

    Greer met China’s Vice Commerce Minister Li Chenggang on Thursday, less than a week after their first face-to-face talks in Geneva on May 10-11, where they agreed to significantly lower tariffs for 90 days.

    Beijing’s commerce ministry spokesperson, He Yongqian, told a press conference that China was always open to discussing economic and trade relations with the United States through offline communication, but gave no details on the substance of the latest talks.

    According to a statement from the ministry, China’s Li said at the APEC meeting that in recent years individual economies had implemented so-called reciprocal tariffs, which provoked global trade frictions and strong dissatisfaction and opposition from many trading partners.

    Greer also spoke with South Korea’s Industry Minister Ahn Duk-geun, three weeks after Seoul and Washington held their opening round of trade talks, and ministers from Malaysia and Taiwan, yielding optimism that further talks would lead to reduced tariffs.

    (Reuters)

  • IIFT sets up first overseas campus in Dubai, marking historic step in global expansion

    Source: Government of India

    Source: Government of India (4)

    In a major stride towards internationalising Indian higher education, the Indian Institute of Foreign Trade (IIFT) has announced the establishment of its first overseas campus in Dubai, United Arab Emirates. The move marks a significant milestone in IIFT’s 62-year history and underscores India’s growing presence in the global education landscape.

    The announcement was made by the Ministry of Commerce and Industry on Friday. The new campus has received the necessary approvals from the Ministry of Education, along with No Objection Certificates from the Ministry of External Affairs, Ministry of Home Affairs, and the University Grants Commission (UGC).

    Union Commerce and Industry Minister Piyush Goyal hailed the development as a reflection of the National Education Policy (NEP) 2020’s vision of making India a global hub for education. “This truly reflects the spirit of NEP 2020, marking a new chapter in the internationalisation of Indian education and its growing role in shaping global thought leadership. It is also a testament to the strengthening India-UAE partnership,” he said.

    Commerce Secretary Sunil Barthwal described the Dubai campus as a turning point in IIFT’s journey. “This represents India’s emergence as a provider of world-class education, especially in the field of international trade,” he noted, while applauding the institute’s continued focus on aligning academic and research efforts with national priorities.

    Prof. Rakesh Mohan Joshi, Vice Chancellor of IIFT, expressed his gratitude to all stakeholders who supported the initiative. Reaffirming the institute’s commitment to excellence, he said, “We aim to transform IIFT into a world-class institution through our Dubai campus by excelling in education, training, and research in international trade.”

  • MIL-OSI Russia: Xinjiang’s foreign trade turnover increased by more than 20 percent in January-April

    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

    URUMQI, May 16 (Xinhua) — Northwest China’s Xinjiang Uygur Autonomous Region’s foreign trade turnover rose 20.2 percent year-on-year to 165.86 billion yuan (about 23.01 billion U.S. dollars) in the first four months of 2025, with the figure exceeding 57.7 billion yuan (up 30.4 percent) in April, according to Urumqi Customs data.

    According to the local customs, Xinjiang maintained trade relations with 216 countries and regions in the world from January to April, with Kazakhstan and Kyrgyzstan ranking first in terms of trade volume. Trade with Malaysia, Indonesia, Thailand and other countries participating in the Regional Comprehensive Economic Partnership demonstrated a high growth rate of 96.4 percent, accounting for 16.5 percent of Xinjiang’s foreign trade turnover during the period. Trade with countries in Africa, West Asia and Latin America increased by 70.4 percent, 104.8 percent and 96 percent, respectively.

    Almost half of the region’s foreign trade turnover – 42.2 percent /69.92 billion yuan/ – was provided by the Xinjiang Pilot Free Trade Zone, thus proving its competitive advantages in foreign trade, formed thanks to institutional innovations. -0-

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: HK seeking sustainable trade: SCED

    Source: Hong Kong Information Services

    Secretary for Commerce & Economic Development Algernon Yau gave a speech today at a session of the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) Meeting in Jeju, South Korea.

    At a session themed “Prosperity through Sustainable Trade”, Mr Yau said that supply chains are the driving force of today’s global economy but are also highly sensitive and vulnerable to external shocks.

    He outlined that Hong Kong, as an international shipping and logistics hub, has been implementing various measures to support sustainable supply chains, including “Hong Kong’s Climate Action Plan 2050” and a roadmap for sustainability disclosure.

    “In parallel, enabling initiatives have been rolled out to equip micro, small and medium-sized enterprises (MSMEs) with the means to manage their environmental footprint and encourage market participants to improve sustainable business practices,” he said. “Funding schemes and capacity-building programmes have also been put in place to encourage the adoption of digital technologies by MSMEs to facilitate the digital transformation of supply chains.”

    The commerce chief stressed that the issue of supply chains has always been an integral part of APEC discussions, adding that APEC’s role is even more important now than ever as cross-boundary trade and investments and supply chains face uncertainty and unprecedented challenges.

    Mr Yau said he believes the collective goal of strengthening sustainable supply chains should never be a trade-off between sustainability and trade, but rather a synergy between the two. He emphasised that Hong Kong is committed to working with all member economies to drive progress towards shared prosperity through sustainable trade.

    On the sidelines of the MRT Meeting, Mr Yau held a bilateral meeting with Japanese State Minister of Economy, Trade & Industry Ogushi Masaki to discuss various trade and economic issues.

    Mr Yau will return to Hong Kong tomorrow morning.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Bitget Gains Market Share in April 2025 Monthly Report Highlights

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, May 16, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, released its April 2025 Transparency Report, highlighting a month of growth, regulatory milestones, and continued momentum despite broader market uncertainties through consistent innovation and strong execution.

    In a month marked by market correction and investor caution, Bitget recorded a futures trading volume of $757.6 billion, representing 17.3% growth month-on-month. Spot trading volume also rose to $68.6 billion, defying the broader industry downturn. These gains contributed to Bitget’s rise as the 3rd largest crypto exchange by trading volume, with a market share of 7.2%, reflecting strong performance and continued momentum in a competitive market environment. According to Coingecko and WuBlockchain, Bitget defied broader exchange trends, gaining market share while others contracted. Bitget also surpassed 120 million users, signaling strong platform engagement and trust in its products and services.

    In April, Bitget made a major regulatory leap by securing both DASP and BSP licenses in El Salvador, allowing it to offer full crypto services—spot, derivatives, staking, and yield—under one of the world’s most forward-thinking digital asset frameworks.

    The month also marked the launch of Bitget Onchain, a feature that lets users trade on-chain assets directly through the Bitget app using USDT or USDC. This bridges the gap between centralized UX and decentralized access, making Web3 more approachable.

    To support institutional growth, Bitget upgraded its Liquidity Incentive Program with better maker-taker rates and faster onboarding, boosting liquidity across spot and derivatives markets.

    On the marketing front, Bitget teamed up with FC Barcelona star Raphinha in a global campaign spotlighting smart trading tools like Copy Trading, Launchpool, and Pre-market. This was paired with the “Your Team, Your Skin” initiative with LALIGA, letting users personalize their trading interface with team branding.

    Bitget Research Employment Report estimates blockchain could create 500,000 jobs by 2028, echoing the growth path of the AI sector and highlighting blockchain’s expanding impact.

    Finally, Bitget reinforced its global presence with immersive activations at TOKEN2049 Dubai and Paris Blockchain Week, including side events like Cryptoverse Dream Night, underscoring its commitment to community and innovation.

    Between regulatory wins, rapid user growth, and focus on accessibility and security, Bitget leads as one of the top players in the crypto industry’s evolution. As market sentiment begins to shift, Bitget is geared up to lead the next phase of crypto adoption and WEB3 integration.

    For the full transparency report, visit here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

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

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

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

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5bf1a171-5c5d-4536-b7ba-529f3be725b6

    The MIL Network –

  • MIL-OSI USA: NASA Welcomes Norway as 55th Nation to Sign Artemis Accords

    Source: NASA

    Following an international signing ceremony Thursday, NASA congratulated Norway on becoming the latest country to join the Artemis Accords, committing to the peaceful, transparent, and responsible exploration of space.
    “We’re grateful for the strong and meaningful collaboration we’ve already had with the Norwegian Space Agency,” said acting NASA Administrator Janet Petro. “Now, by signing the Artemis Accords, Norway is not only supporting the future of exploration, but also helping us define it with all our partners for the Moon, Mars, and beyond.”
    Norway’s Minster of Trade and Industry Cecilie Myrseth signed the Artemis Accords on behalf of the country during an event at the Norwegian Space Agency (NOSA) in Oslo. Christian Hauglie-Hanssen, director general of NOSA, and Robert Needham, U.S. Embassy Chargé d’Affaires for Norway, participated in the event. Petro contributed remarks in a pre-recorded video message.
    “We are pleased to be a part of the Artemis Accords,” said Myrseth. “This is an important step for enabling Norway to contribute to broader international cooperation to ensure the peaceful exploration and use of outer space.”
    In 2020, the United States, led by NASA and the U.S. Department of State, and seven other initial signatory nations established the Artemis Accords, the first set of practical guidelines for nations to increase safety of operations and reduce risk and uncertainty in their civil exploration activities.
    The Artemis Accords are grounded in the Outer Space Treaty and other agreements including the Registration Convention and the Rescue and Return Agreement, as well as best practices for responsible behavior that NASA and its partners have supported, including the public release of scientific data. 
    Learn more about the Artemis Accords at:
    https://www.nasa.gov/artemis-accords
    -end-
    Amber Jacobson / Elizabeth ShawHeadquarters, Washington202-358-1600amber.c.jacobson@nasa.gov / elizabeth.a.shaw@nasa.gov

    MIL OSI USA News –