Category: Trade

  • MIL-OSI Asia-Pac: CE begins Kuwait visit

    Source: Hong Kong Information Services

    Chief Executive John Lee met Kuwait’s local leaders and business representatives, as well as visited cultural facilities on the first day of his visit to the country.
     
    While leading a business delegation comprising representatives from Hong Kong and Mainland enterprises, Mr Lee met the Amir, head of state of Kuwait Meshal Al-Ahmad Al-Jaber Al-Sabah, Kuwait Crown Prince Sabah Al-Khaled Al-Hamad Al-Mubarak Al-Sabah and Kuwait Acting Prime Minister Fahad Yousuf Saud Al-Sabah in the morning to exchange views on strengthening co-operation between Hong Kong and Kuwait.
         
    Mr Lee then attended a roundtable meeting chaired by the Acting Prime Minister, engaging in in-depth discussions with senior officials of the Kuwait government on areas such as finance, trade, and innovation and technology (I&T).
     
    Mr Lee and the Acting Prime Minister witnessed the signing of Memoranda of Understanding by Invest Hong Kong and the Hong Kong Trade Development Council with the Kuwait Direct Investment Promotion Authority respectively. He and the delegation also participated in a luncheon hosted by the Acting Prime Minister.
     
    The Chief Executive noted that Kuwait is the first member of the Cooperation Council for the Arab States of the Gulf (GCC) to sign both an Investment Promotion & Protection Agreement and a Comprehensive Avoidance of Double Taxation Agreement with Hong Kong, establishing a robust framework and foundation for economic and trade co-operation between the two places.
     
    He pointed out that Kuwait has been actively developing a diversified economy in recent years, proposing Kuwait Vision 2035 to promote digital transformation and develop the country into a regional and international financial and trade centre.
     
    He highlighted that Hong Kong, as an international financial, shipping and trade centre with world-class professional services, has vast opportunities for co-operation with Kuwait in areas such as finance, investment, digital economy, and I&T, and can assist Kuwait in advancing its Vision 2035.
     
    Underscoring that Kuwait is the rotating President of the GCC currently, Mr Lee expressed his anticipation to strengthen co-operation between Hong Kong and Kuwait, adding that he looks forward to establishing closer economic, trade and cultural exchanges with more GCC member states.
     
    Additionally, Mr Lee emphasised that Hong Kong enjoys the advantage of connecting the country with the world under the “one country, two systems” principle. Hong Kong will fully leverage its role as a bridge to serve enterprises in going global and attracting external investment, complementing the strengths of Mainland enterprises while deepening international exchanges and co-operation.
     
    He welcomed the Kuwaiti Government and enterprises to utilise Hong Kong’s role as a super connector and super value-adder to explore new opportunities under the Belt & Road Initiative for mutual benefit.
     
    Later, Mr Lee and the delegation met representatives of a local corporation, Bukhamseen Group Holding Company, to learn about the latest developments in the company’s businesses in construction, real estate, financial services, and culture and tourism.
     
    Apart from introducing Hong Kong’s development opportunities and its highly internationalised and market-oriented business environment with its pool of professional services talent, Mr Lee also welcomed the company to use Hong Kong as a springboard to develop diversified businesses and tap into the Mainland market, better grasping the immense opportunities brought by the Belt & Road Initiative and the development of the Guangdong-Hong Kong-Macao Greater Bay Area.
     
    Afterwards, Mr Lee visited the Sheikh Abdullah Al Salem Cultural Centre to learn about Kuwait’s arts and culture projects and developments.
     
    Mr Lee made it clear that the Hong Kong Special Administrative Region Government is committed to developing Hong Kong into an East-meets-West centre for international cultural exchanges, with the West Kowloon Cultural District as one of the world’s largest arts and culture projects.
     
    He noted that both Hong Kong and Kuwait place importance on arts and culture development, and he looks forward to further deepening connections and co-operation in cultural exchanges between the two places.
     
    The delegation led by Mr Lee attended a dinner hosted by the Ambassador Extraordinary & Plenipotentiary of the People’s Republic of China to the State of Kuwait Zhang Jianwei.
     
    Mr Lee thanked the embassy for making meticulous arrangements for the visit and for its continued support to the Hong Kong SAR Government and the Hong Kong Economic & Trade Office in Dubai.
     
    The Hong Kong SAR Government will continue to promote economic, trade, and cultural exchanges between Hong Kong and Kuwait.

    MIL OSI Asia Pacific News

  • MIL-OSI Global: Russia-China ties on full display on Victory Day – but all is not as well as Putin is making out

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

    Chinese troops participating in Russia’s Victory Day parade in Red Square, Moscow, on May 9 is a clear indication that President Xi Jinping is fully committed to his “no-limits” partnership with his Russian counterpart, Vladimir Putin.

    Xi’s own attendance of the parade, which came as part of a state visit to Russia, underlines that China is not only supporting Russia. It signified that Beijing wants this support to be understood clearly in Kyiv, Washington and European capitals.

    Travelling to Moscow and having his troops goose-step down Red Square was not a last-minute decision by Xi. Nor was the multitude of agreements signed by the two leaders and their joint declaration anything but part of a well established pattern of deepening relations between Russia and China.

    This trend has accelerated since Russia launched its full-scale invasion of Ukraine in February 2022. But the breadth and depth of China’s commitment to Russia at this particular moment is undoubtedly related to the broader upheaval in the international order that has been worsened since Donald Trump’s return to the White House.


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    The Trump administration, possibly spooked by market wobbles, has taken steps to restore stability. China and the US have agreed a deal to slash the import tariffs they have imposed on each other. But uncertainty remains – above all about how the complex relationships in the triangle of Washington, Beijing and Moscow will work out and where this will leave the rest of the world.




    Read more:
    Trump, Xi and Putin: a dysfunctional love triangle with stakes of global significance


    On May 8, in the wake of Xi and Putin’s meetings in Moscow, Russia and China released a joint statement. It stressed the intention of the two leaders to “enhance the coordination of their approaches and to deepen the practical cooperation on maintaining and strengthening global strategic stability, as well as to jointly address common challenges and threats in this sphere”.

    They reiterated this determination in their press statements afterwards. Putin emphasised that he and Xi “personally control all aspects of [the] Russia-China partnership and do all we can to expand the cooperation on bilateral issues and the international agenda alike”.

    A Chinese read-out from the talks was similarly clear on the alignment between the countries. Xi reportedly said that “in the face of unilateralist countercurrents, bullying and acts of power politics, China is working with Russia to shoulder the special responsibilities of major countries and permanent members of the UN Security Council”.

    This unequivocal display of how close Moscow and Beijing are – as well as Putin and Xi personally – is important for both nations. For Russia, it remains important to demonstrate that western attempts at international isolation have not succeeded.

    For China, the very public consolidation of ties with Russia is above all a signal to the US. China is keen to stress that Trump’s efforts to engineer a split between Moscow and Beijing, which the American president described as necessary to “un-unite” the two nations during an interview with US talk show host Tucker Carlson in November 2024, have largely failed.

    However, beyond the glossy surface of the celebrations in Moscow, all is not as well for Russia as Putin is trying to make out. For all the public displays of friendship between Xi and Putin, the relationship between the two countries remains highly asymmetrical.

    Russia would not be able to continue to wage its war against Ukraine without Chinese support. Trade between Russia and China is critical to propping up the Russian war economy, reaching a record high of nearly US$250 billion (£190 billion) in 2024. Their trade has increased by more than 60% since 2021, yet it is only marginally up since 2023.

    China’s diplomatic clout is also helpful for Russia. If Beijing had taken an unequivocal stance opposing Moscow’s aggression, fewer leaders in the developing world would have sided with Putin.

    In this case, Russia would probably have lost organisations like the Shanghai Cooperation Organisation and the Brics group of emerging economies as platforms to further its broader agenda of restoring its erstwhile status as a great power.

    In that agenda, Putin has been moderately successful. But with South Africa and India’s leaders absent from Russia’s Victory Day commemorations, the list of attendees was shorter than at the Brics summit in Kazan, Russia, in October 2024.

    A doubled-edged sword

    Notably absent from the celebrations in Moscow was high-level representation from North Korea and Iran. These are two key allies of Russia with whom Moscow signed strategic partnership agreements in June 2024 and January 2025, respectively.

    Tehran simply sent its ambassador to Moscow to attend. However, it may have compensated Putin in a different and materially more significant way.

    According to reports, Iran is readying a delivery of launchers to enable Russia to use the short-range ballistic missiles already delivered last year. This would further add to Russia’s reliance on Iranian hardware in Ukraine, which has so far been most visible in the use of Iranian-made Shahed drones.

    North Korea dispatched a military delegation led by three-star general Kim Yong-bok. Kim is widely considered the commander of North Korean forces fighting alongside Russian troops in the Kursk region of western Russia, where Ukrainian forces seized territory in August 2024 as a possible bargaining chip in future negotiations with Russia.

    Putin officially acknowledged the participation of North Korean troops in this operation in a statement on April 28. This acknowledgment came two days after he had announced the defeat of Ukrainian forces there in a highly choreographed and televised meeting with his chief of general staff, Valery Gerasimov.

    The demonstration of Russia’s close relationships with its three core allies – China, Iran and North Korea – is a double-edged sword. On the one hand, it clearly indicates that Putin is far from isolated on the international stage.

    But it also signals that Russia has become a lot more dependent on these relationships than would befit Putin’s dreams of restoring Russia’s great-power status. Neither can be much comfort to Ukraine and its allies, unfortunately.

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

    ref. Russia-China ties on full display on Victory Day – but all is not as well as Putin is making out – https://theconversation.com/russia-china-ties-on-full-display-on-victory-day-but-all-is-not-as-well-as-putin-is-making-out-256385

    MIL OSI – Global Reports

  • MIL-OSI Global: Amazon’s new robot has a sense of touch, but it’s not here to replace humans

    Source: The Conversation – UK – By Kartikeya Walia, Lecturer, Department of Engineering, Nottingham Trent University

    Amazon has just unveiled its newest warehouse robot called Vulcan, which has a “sense of touch”. Designed to gently stow items using pressure-sensitive gripping and artificial intelligence (AI), Vulcan is now being tested in two Amazon facilities, in Spokane, Washington state, US, and Hamburg, Germany.

    The robot is part of Amazon’s long-term investment in warehouse automation. The inevitable question that always comes up is: will robots like this replace human workers? In short: not yet, and probably not completely. In fact, Vulcan is a good example of how robotics are being designed to work with people, not against them.

    Vulcan is designed to assist warehouse workers in stowing – the process of placing items into storage bins (called pods) before they’re picked, packed and shipped. Human pickers often work at different height levels when they’re stowing, with repetitive bending, reaching or climbing of steps.

    Amazon has divided the workspace into zones: the “kneel and lunge” zone (low height), the “power” zone (mid height), and the “ladder” zone (high height). Vulcan is designed to operate in the lowest and highest zones – the most physically demanding areas for humans – to reduce the risk of injury and improve efficiency.

    Amazon’s new Vulcan robot.

    The “sense of touch” comes from Vulcan’s force-sensitive gripper. This adjusts how firmly it should hold each item. Using AI, Vulcan can predict the right amount of force to use, squeezing gently for soft, squishy items, and more firmly for flat or rigid ones.

    It also uses a clever flat prong to make space inside the bins, packing things more
    efficiently, almost like playing a game of Tetris.

    Right now, Vulcan can match the speed of a human worker and operate for around 20 hours a day. The movements are fast, hence it still works behind a protective safety fence. However, it’s not flawless – it can only handle objects up to about 8lbs (3.6kg) and struggles with round items.


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    The human factor

    So, does this mean fewer jobs for humans? New technologies often raise concerns about job losses – and in some cases, with good reason. Some roles will inevitably disappear as robots become more commonplace, especially those that are dull, dirty, or dangerous. But that’s only part of the picture.

    From what I’ve seen in my own research and experience with robotics, automation
    doesn’t usually eliminate jobs entirely – it changes them. Amazon insists that
    Vulcan is being introduced not to replace staff, but to reduce the physical strain of repetitive tasks and support faster, safer warehouse operations.

    Importantly, Amazon also runs a Mechatronics and Robotics Apprenticeship Program – a free course for workers to upskill and move into more technical roles,
    often with a pay increase of up to 40%. The company also runs other upskilling programmes.

    Though it’s also worth repeating here that Amazon has been the subject of criticism and complaints from employees about its intensive working conditions (Amazon says its employees’ safety and health is its top priority and that some inaccurate information has gone around), these kinds of upskilling initiatives are key to the future of work in environments that use robots. As machines take over the repetitive tasks, humans will move into roles involving assembly, commissioning, maintenance, quick repair, and eventually, system reconfiguration.


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    In theory, a fully automated, 24/7 “lights-out” warehouse sounds like a dream for
    business – no breaks, no injuries, no wages. But in practice, completely removing
    humans from the shop floor is incredibly risky. Robots and automation systems,
    especially those that are used in an environment as complex as Amazon’s logistics and warehouse management chain, can break down.

    If even one component in the workflow fails – a sensor, a motor, or a software module – and there are no humans around to spot it or fix it quickly, the entire operation could grind to a halt. In high-volume environments like Amazon warehouses, even an hour of downtime could cost a fortune.

    Keeping humans in the loop provides the flexibility and quick thinking that complex
    systems still depend on. It’s a safety net no algorithm can yet replace. It’s also a way to adapt to changes quickly, something that rigid automation often can’t do.

    Vulcan isn’t Amazon’s first robot, and it won’t be the last. Earlier systems like Sparrow could handle about 60% of the company’s inventory. With Vulcan, that number jumps to 75%. That’s certainly progress, but it also shows the limits of automation.

    There’s still a long way to go before a robot can match the flexibility, judgement and care of a human worker. The future of robotics in warehouses won’t be about replacing people, it will be about working alongside them, easing physical strain, increasing efficiency, and creating new types of jobs.

    We’re already seeing shifts in the industry. Modular robots are built using a core set of hardware “modules” that can be combined and recombined to form a customised machine. These are making it easier to tailor automation.

    An example of a reconfigurable modular robot.

    At the same time, vendor lock-in – where companies rely on proprietary hardware and software from a single supplier – is becoming less common. Instead, firms like Amazon are increasingly developing their own bespoke components to better suit their operational needs. A shift towards in-house, self-deployable robotics would mean that companies will need more technically skilled workers who can assemble, modify, and maintain these systems.

    For now, Vulcan is a glimpse of what’s coming: smarter robots, safer work and
    hopefully, a future where technology supports people, not the other way around.

    Kartikeya Walia receives funding from the EPSRC and UKRI.

    ref. Amazon’s new robot has a sense of touch, but it’s not here to replace humans – https://theconversation.com/amazons-new-robot-has-a-sense-of-touch-but-its-not-here-to-replace-humans-256273

    MIL OSI – Global Reports

  • MIL-OSI Canada: Prime Minister announces new Ministry

    Source: Government of Canada – Prime Minister

    Today, the Prime Minister, Mark Carney, announced the members of Canada’s new Ministry.

    Canadians elected this new government with a strong mandate to define a new economic and security relationship with the United States, to build a stronger economy, to reduce the cost of living, and to keep our communities safe. This focused team will act on this mandate for change with urgency and determination.

    The new government will act to catalyze investment and build a new Canadian economy – one that creates higher-paying careers, raises incomes, and can withstand future shocks. They will work in collaboration with provinces, territories, and Indigenous Peoples to advance the nation-building investments that will support the government’s core mission of building one strong, united economy – the strongest economy in the G7.

    The new Cabinet is appointed as follows:

    • Shafqat Ali, President of the Treasury Board
    • Rebecca Alty, Minister of Crown-Indigenous Relations
    • Anita Anand, Minister of Foreign Affairs
    • Gary Anandasangaree, Minister of Public Safety
    • François-Philippe Champagne, Minister of Finance and National Revenue
    • Rebecca Chartrand, Minister of Northern and Arctic Affairs and Minister responsible for the Canadian Northern Economic Development Agency
    • Julie Dabrusin, Minister of Environment and Climate Change
    • Sean Fraser, Minister of Justice and Attorney General of Canada and Minister responsible for the Atlantic Canada Opportunities Agency
    • Chrystia Freeland, Minister of Transport and Internal Trade
    • Steven Guilbeault, Minister of Canadian Identity and Culture and Minister responsible for Official Languages
    • Mandy Gull-Masty, Minister of Indigenous Services
    • Patty Hajdu, Minister of Jobs and Families and Minister responsible for the Federal Economic Development Agency for Northern Ontario
    • Tim Hodgson, Minister of Energy and Natural Resources
    • Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions
    • Dominic LeBlanc, President of the King’s Privy Council for Canada and Minister responsible for Canada-U.S. Trade, Intergovernmental Affairs and One Canadian Economy
    • Joël Lightbound, Minister of Government Transformation, Public Works and Procurement
    • Heath MacDonald, Minister of Agriculture and Agri-Food
    • Steven MacKinnon, Leader of the Government in the House of Commons
    • David J. McGuinty, Minister of National Defence
    • Jill McKnight, Minister of Veterans Affairs and Associate Minister of National Defence
    • Lena Metlege Diab, Minister of Immigration, Refugees and Citizenship
    • Marjorie Michel, Minister of Health
    • Eleanor Olszewski, Minister of Emergency Management and Community Resilience and Minister responsible for Prairies Economic Development Canada
    • Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada
    • Maninder Sidhu, Minister of International Trade
    • Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario
    • Joanne Thompson, Minister of Fisheries
    • Rechie Valdez, Minister of Women and Gender Equality and Secretary of State (Small Business and Tourism)

    The Cabinet will be supported by 10 secretaries of State who will provide dedicated leadership on key issues and priorities within their minister’s portfolio.

    The new secretaries of State are appointed as follows:

    • Buckley Belanger, Secretary of State (Rural Development)
    • Stephen Fuhr, Secretary of State (Defence Procurement)
    • Anna Gainey, Secretary of State (Children and Youth)
    • Wayne Long, Secretary of State (Canada Revenue Agency and Financial Institutions)
    • Stephanie McLean, Secretary of State (Seniors)
    • Nathalie Provost, Secretary of State (Nature)
    • Ruby Sahota, Secretary of State (Combatting Crime)
    • Randeep Sarai, Secretary of State (International Development)
    • Adam van Koeverden, Secretary of State (Sport)
    • John Zerucelli, Secretary of State (Labour)

    Quote

    “Canada’s new Ministry is built to deliver the change Canadians want and deserve. Everyone is expected and empowered to show leadership – to bring new ideas, a clear focus, and decisive action to their work.”

    Associated Links

    MIL OSI Canada News

  • MIL-OSI Europe: Minister for Enterprise, Tourism and Employment Peter Burke leads a four-day US Midwest trade and investment mission

    Source: Government of Ireland – Department of Jobs Enterprise and Innovation

    • Minister for Enterprise embarks on ambitious US Trade Mission to the Midwest
    • The trip will also see him lead the largest ever delegation of Irish companies to Select USA, the US government-backed FDI summit

    Minister Peter Burke is embarking on a trade and investment mission to the Midwest of the US this week. Minister Burke will be accompanied by IDA Ireland CEO Michael Lohan and Department of Enterprise officials.

    IDA Ireland operates three offices in the region – Chicago, Atlanta and Austin. In 2024, the US Midwest and South Territory supported 313 headquartered companies operating in Ireland, employing a total of 67,879 people with 80% of the jobs located in regional locations.

    Ireland and the US enjoy a significant and mutually beneficial economic relationship. The economic benefits flow both ways, creating prosperity and jobs for large numbers of people on both sides of the Atlantic. The US continues to be Ireland’s largest trading and investment partner, and Ireland is the sixth largest source of foreign direct investment into the US, with more than 200,000 people employed directly by 770 Irish companies across all 50 States.

    Over the course of the week, the Minister will meet with some of IDA’s clients in Minneapolis and Chicago, highlighting the unique advantages of locating in Ireland to service a European marketplace of 450 million people.

    The Minister will also visit Washington DC where he will meet with a number of Enterprise Ireland client companies and attend the Select USA Investment summit. This year marks the biggest ever Irish delegation to Select USA by Irish companies, with over 25 companies travelling to partake. Strengthening and diversifying trade links in this context means working at the federal level, the State level and at regional levels, to promote and advocate the value of two-way trade.

    Minister Burke said:

    “During this trade mission I will be working to strengthen our trade links, promoting and advocating the value of our two-way trade relationship with some of our most important transatlantic businesses.  US companies employ over 210,000 people in Ireland and our value proposition to companies looking to do business here or expand continues to be strong, with companies based here having access to the European market of 450 million customers. It is important we invest in these partnerships with business leadership, and that we promote and encourage new business relationships into the future”.

    List of Enterprise Ireland Companies attending Select USA Summit:

    3C Global

    Kerry Group

    Amesto Global

    Konversational

    Bard Global

    MCS Tech

    Clark Hill

    Net Feasa

    Core Optimisation

    Nomad Analytics

    DAA International

    Nua Surgical

    FuturFaith

    OptaHaul

    Gasgon Medical

    Prodigy Learning

    iTARRA

    PRONAV Clinical

    Relate Care

    Reddy Architecture + Urbanism

    Sonolake

    VRAI

    Sisk

    Suretank

    ENDS

    MIL OSI Europe News

  • MIL-OSI USA: Ezell, Carter, Letlow Introduce Bipartisan Safer Shrimp Imports Act

    Source: United States House of Representatives – Congressman Mike Ezell (Mississippi 4th District)

    Representatives Mike Ezell (MS-04), Julia Letlow (LA-05), and Troy Carter (LA-02) today introduced the Safer Shrimp Imports Act, a bipartisan bill aimed at tightening federal inspection standards for imported shrimp and protecting American consumers and domestic seafood producers.

    Imported shrimp accounts for roughly 90% of the shrimp consumed in the United States, much of which comes from countries with weak food safety standards and inadequate oversight of harmful contaminants such as antibiotics, pesticides, and bacteria. The Safer Shrimp Imports Act would require the Food and Drug Administration (FDA) to significantly increase testing of imported shrimp and publicly report inspection results, giving consumers more confidence in the safety of what’s on their plates.

    “Growing up on Mississippi’s Gulf Coast, I know how important the shrimp industry is—not just to our economy, but to our way of life,” Ezell said. “Our local gulf coast shrimpers are playing by the rules while foreign producers are flooding the market with unsafe, low-quality products. This bill is about leveling the playing field and protecting our American producers, and keeping America healthy.”

    “As we work to restore an economy built on American sweat and labor, it’s vital that Congress stands up for our Gulf Coast shrimpers,” Letlow said. “Our Safer Shrimp Imports Act would hold foreign governments accountable for dumping inferior, subsidized shrimp into American markets, contaminating our food supply and undercutting our Louisiana shrimpers.”

    “This bill is a crucial step toward protecting Louisiana families and supporting Louisiana’s fishing industry. By holding foreign shrimp imports to the same safety standards as our domestic producers, this legislation will safeguard public health, promote fair trade, and guarantee consumers can trust what’s on their plates. I want to thank my colleagues Rep. Ezell and Rep. Letlow for standing with me and fighting for American shrimpers and the safety of our food supply,” Carter said.

    “The Safer Shrimp Imports Act is common sense legislation to ensure the safety of our nation’s most consumed imported seafood commodity, shrimp. For far too long, importing countries have dumped products into the American marketplace that are manufactured and processed without the same strict regulations that American producers must face,” Ryan Bradley, Executive Director of Mississippi Commercial Fisheries United said.

    “We are very grateful to Congressman Ezell for introducing this important legislation to ensure the safety of foreign shrimp imported into this country,” Armond Gollott III, the President of C.F. Gollott & Son Seafood, Inc. said. “As a fourth-generation shrimp processor, we are committed to producing the safest, best tasting gulf shrimp for our customers. It is only fair that foreign producers be required to meet the same health and safety standards as the domestic industry.”

    “The American Shrimp Processors Association strongly supports the Safer Shrimp Imports Act,” Trey Pearson, the president of the American Shrimp Processors Association (ASPA) said. “Imports account for over 90 percent of the shrimp that Americans eat, and for far too long domestic shrimp producers have been forced to compete with imports that do not have to comply with our health and safety rules. If foreign countries cannot show that they meet our food safety standards, their shrimp should not be in this country, period.”

    “We need the Safer Shrimp Imports Act to guarantee that foreign shrimp imports meet the same rules as domestic, gulf-caught shrimp,” Dean Blanchard, the owner of Dean Blanchard Seafood said. “The U.S. government inspects less than one percent of the 1.5 billion pounds of shrimp imported into our country each year, while our U.S. shrimp fishermen, docks, and processors must comply with strict health and safety rules. This bill will help ensure that imports meet the same standards as our Gulf shrimp industry.”

    “Under the USDA’s equivalency requirements, if you want to import catfish or pangasius into this country, there are just 42 companies in three countries approved to ship that fish to the United States. Under the FDA’s current system, if you want to import shrimp, you can do so from anyone, anywhere, at any time. That’s why the FDA refused shrimp from ‘Rudong Zhengxiong Trade Co., Ltd.’ shipped to our East Coast in March and then, a month later, refused shrimp from ‘Zhengxiong (Rudong) Trade Co., Ltd.’ shipped to our West Coast,” John Williams, executive director of the Southern Shrimp Alliance said. “The Safer Shrimp Imports Act sets a common-sense minimum standard for exporting shrimp to this country by requiring that our trading partners administer a food safety system that is equivalent to our own.”

    “FWC is pleased to support the Safer Shrimp Imports Act. For years, Florida shrimpers have been hurt by foreign companies that have been dumping their products into US markets while skirting safety standards. This bill brings more accountability to foreign companies and is an important step to helping US shrimpers and US customers,” Jessica McCawley, director, Division of Marine Fisheries Management at Florida Fish and Wildlife Conservation Commission said. 

    The legislation works to execute on President Trump’s and HHS Secretary Kennedy’s vision to keep America health and eradicate its public health crisis. This bill is supported by a coalition of Gulf Coast seafood industry groups and food safety advocates. This is the House companion to S. 667 introduced by Senator Hyde-Smith in the Senate. 

    ###

     

    MIL OSI USA News

  • MIL-OSI Global: HBC’s artworks and collections help us understand Canada’s origins — and can be auctioned off

    Source: The Conversation – Canada – By Norman Vorano, Associate Professor of Art History and Head of the Department of Art History and Art Conservation, Queen’s University, Ontario

    The proposed liquidation of many of the Hudson’s Bay Company’s (HBC) collections that together trace over three centuries of Indigenous and European interaction across this continent represents a profound threat to Canada’s collective memory and identity.

    An Ontario Superior Court judge ruled that the company could move forward with an auction of 4,400 items — including historic artifacts and artworks.

    Several government and non-government cultural agencies, including the Manitoba Museum and the Indigenous Council of the Canadian Museums Association, have expressed concern to HBC and the financial advisory firm it’s working with.

    First Nations leaders and scholars say many of the objects likely have profound significance to Indigenous Peoples and are calling for repatriaton.

    As an art history professor who has researched curatorial and museum practices, I can attest to the cultural and scholarly value of keeping documentary and cultural collections intact, rather than being scattered across the globe or disappearing into private hands.

    This situation exposes the reach and limits of Canada’s Cultural Property Export and Import Act (CPEIA). The act has provisions to delay or block export of cultural property, defined broadly as “any cultural or heritage object, regardless of its place of origin, which may be important from an archaeological, historical, artistic or scientific perspective.” Yet, this legislation offers no guarantees that the objects will end up in Canadian museums or under Indigenous stewardship.

    Importance for memory

    After moving its head office from London to Canada in 1970, HBC first loaned records to the Archives of Manitoba in 1974 and then donated them in 1994 to the province. The vast collection includes about 130,000 images and all minute books from meetings of HBC’s governor and committee from 1671 to 1970.

    The United Nations Educational, Scientific and Cultural Organization (UNESCO) designated a substantial part of that collection as part of the Memory of the World Register. Items with this designation are recognized as showcasing and preserving the most significant documents of human heritage.

    If the items heading to auction are similar, they, too, would be embedded with stories of political negotiation, cultural exchange and economic transformation that helped forge Canada over three centuries.

    Some HBC records have provided a window into Canada’s climate history and ecology, offering valuable long-term data to environmental researchers. Others show evidence of Indigenous trade, land occupation and cultural presence relevant to genealogical research, band membership documentation and land claims.

    The Assembly of Manitoba Chiefs, citing the United Nations Declaration on the Rights of Indigenous Peoples, has called for transparency and consultation in any discussion concerning the disposition of HBC items and stopping any sale or transfer of artifacts that “may belong to or be linked with First Nations.”

    1977 legislation

    Prior to Parliament passing the CPEIA legislation in 1977, the federal government had few legal mechanisms to safeguard cultural heritage at home or abroad.

    The 1951 Massey Report into the development of Canadian arts and culture acknowledged the sale and export of important collections, including Indigenous cultural belongings. It noted that some Canadian museums had been requesting “an embargo on the sale abroad of objects of particular national significance as well as for suitable grants to the museums which should preserve these objects ….”

    Global concern for cultural property

    An emerging global consensus on the need for a stronger cross-border regulatory system also shaped CPEIA’s development. The 1954 UNESCO Hague Convention for the Protection of Cultural Property in the Event of Armed Conflict was the first international legal framework for the protection of moveable “cultural property.” This was created in response to the Nazi looting of private and public collections.

    By the 1960s, Canada was studying British and French laws, particularly the U.K.’s 1952 Waverly Report, as models for export controls.
    Borrowing from the Waverly Report, CPEIA relied upon, in the words of Canadian diplomat Ian Christie Clark, a “co-operation of the collector-dealer fraternity” working together with the government to ensure compliance.

    The final push to develop national policies flowed from the 1970 UNESCO Convention on the Means of Prohibiting and Preventing the Illicit Import, Export and Transfer of Ownership of Cultural Property. This obliged signatory states to develop their own laws to protect cultural heritage and facilitate the return of illegally exported property. To claim the reciprocal benefits of the convention, Canada had to act.

    Relevance of the CPEIA

    An independent committee of specialists, established through the CPEIA, can designate parts, or the entirety, of the HBC collection as “of outstanding significance and national importance” if the HBC proposed to donate or sell items to a designated Canadian institution.




    Read more:
    More than a department store: The long, complicated legacy behind Hudson’s Bay Company


    In such a circumstance, the HBC, in tandem with a collecting institution, can request a review to unlock generous tax incentives if certified.

    This designation could also arise if the owner — either the HBC or a successful buyer — applied for an export permit to move the collection out of Canada. This application would be screened against CPEIA’s export control list, which covers everything from archaeological and scientific specimens to documentary records and artworks that exceed age and value thresholds.

    If those thresholds were met, and an export permit is denied, the works would be referred to an expert examiner for a full Canadian Cultural Property Export Review Board assessment. A private sale within Canada would not alone prompt the review.

    Receiving a cultural property designation would, at least temporarily, restrict the possibility of exporting items.

    Importantly, the delay would give federally designated institutions like public museums or archives, as well as Indigenous-led organization with the mandate to preserve and support Indigenous heritage, an opportunity to purchase cultural property that has been denied an export permit. For this, CPEIA offers grants and loans for designated institutions to match the appraised value. Those grants and loans can also be used to repatriate collections that are abroad.

    HBC’s historic archive is a prism through which we view Canada’s origins.

    Dispersing or exporting this collection would significantly diminish our understanding of Canada. While CPEIA may play a role in retaining it, it offers no certainties.

    Norman Vorano received funding from the Social Sciences and Humanities Research Council of Canada and the Pierre Elliott Trudeau Foundation.

    ref. HBC’s artworks and collections help us understand Canada’s origins — and can be auctioned off – https://theconversation.com/hbcs-artworks-and-collections-help-us-understand-canadas-origins-and-can-be-auctioned-off-256044

    MIL OSI – Global Reports

  • MIL-OSI USA: CFTC’s Energy and Environmental Markets Advisory Committee to Meet May 28

    Source: US Commodity Futures Trading Commission

    WASHINGTON, D.C. — CFTC Commissioner Summer K. Mersinger, sponsor of the Energy and Environmental Markets Advisory Committee, today announced that the EEMAC will hold a virtual public meeting Wednesday, May 28 from 12:00 p.m. to 1:00 p.m. EDT. Members of the public may also attend the meeting. 
    At this meeting, the EEMAC will discuss a report written and approved by EEMAC Role of Metals Markets in Transitional Energy Subcommittee. A committee vote to advance the subcommittee’s report to the Commission will follow. The EEMAC will also get a presentation of and discuss the EEMAC Physical Energy Infrastructure Subcommittee report. agenda for this meeting is forthcoming. For agenda updates and more information about this advisory committee, including its members, please visit EEMAC.
    “I am truly grateful to the members of both Subcommittees for their hard work and diligence in writing these reports.” said Commissioner Mersinger. “The issues and topics addressed by both Subcommittees are multifaceted and complex — having a direct impact on the everyday prices of the energy that we use and food we consume. The issues tackled in these reports affect every American household, highlighting the importance of the Subcommittees’ work over the last year.”
    Members of the public may watch a live webcast or listen to the meeting via conference call using a domestic or international number to connect to a live, listen-only audio feed. People requiring special accommodations to attend the meeting because of a disability should notify Lauren Fulks, the EEMAC Secretary, at (816) 787-6297 or [email protected].

    What:

    Energy and Environmental Markets Advisory Committee Meeting 

    Location
    (In-person/virtual):

    *Virtual instructions below
     

    When:
     

    Wednesday, May 28, 2025
    12:00 p.m. – 1:00 p.m. (EDT) 
     

    Viewing/Listening Instructions: To access the live meeting feed, use the dial-in numbers below or stream on CFTC.gov. A live feed can also be streamed through the CFTC’s YouTube channel. Call-in participants should be prepared to provide their first name, last name, and affiliation, if applicable. Materials presented at the meeting, if any, will be made on cftc.gov.

    Instructions:

    Domestic Toll-Free Numbers:
     
    Domestic Toll Numbers:

    1-833-568-8864 or 1-833-435-1820 
    +1 669 254 5252 US (San Jose)
    +1 646 828 7666 US (New York)
    +1 646 964 1167 US (US Spanish Line)
    +1 669 216 1590 US (San Jose)
    +1 415 449 4000 US (US Spanish Line)
    +1 551 285 1373 US (New Jersey)
       

    International Numbers:
    International Numbers

    Webinar ID:

    Passcode:

    160 295 4046

    762417

    Members of the public can submit written statements in connection with the meeting by June 4, 2025. Submit public comments at CFTC.gov. Follow the instructions for submitting comments through the Comments Online process. If you are unable to submit comments online, contact Lauren Fulks, EEMAC Secretary, via the contact information above to discuss alternative means to submit comments. Any statements submitted in connection with the committee meeting will be made available to the public, including publication on CFTC.gov. Written statements should have “Energy and Environmental Markets Advisory Committee” as the title on any statement. 
    There are five active advisory committees overseen by the CFTC. They were created to provide advice and recommendations to the Commission on a variety of regulatory and market issues that affect the integrity and competitiveness of U.S. markets. These advisory committees facilitate communication between the Commission and market participants, other regulators, and academics. The views, opinions, and information expressed by the advisory committees are solely those of the respective advisory committee and do not necessarily reflect the views of the Commission, its staff, or the U.S. government.

    MIL OSI USA News

  • MIL-OSI Asia-Pac: CE leads delegation to begin visit to Kuwait (with photos/ videos)

    Source: Hong Kong Government special administrative region

    CE leads delegation to begin visit to Kuwait (with photos/ videos) 
    In the morning, Mr Lee met with the Amir of Kuwait, Mr Meshal Al-Ahmad Al-Jaber Al-Sabah, who is the head of state of Kuwait; the Crown Prince of Kuwait, Mr Sabah Al-Khaled Al-Hamad Al-Mubarak Al-Sabah; and the Acting Prime Minister, Mr Fahad Yousuf Saud Al-Sabah, to exchange views on strengthening co-operation between Hong Kong and Kuwait. Mr Lee then attended a roundtable meeting chaired by the Acting Prime Minister, engaging in in-depth discussions with senior officials of the Kuwait Government on areas such as finance, trade, and innovation and technology (I&T). Mr Lee and the Acting Prime Minister witnessed the signing of Memoranda of Understanding by Invest Hong Kong and the Hong Kong Trade Development Council with the Kuwait Direct Investment Promotion Authority respectively. He and the delegation also participated in a luncheon hosted by the Acting Prime Minister.
     
    Mr Lee noted that Kuwait is the first member of the Cooperation Council for the Arab States of the Gulf (GCC) to sign both an Investment Promotion and Protection Agreement and a Comprehensive Avoidance of Double Taxation Agreement with Hong Kong, establishing a robust framework and foundation for economic and trade co-operation between the two places.
     
    He said that Kuwait has been actively developing a diversified economy in recent years, proposing Kuwait Vision 2035 to promote digital transformation and develop the country into a regional and international financial and trade centre. Hong Kong, as an international financial, shipping and trade centre with world-class professional services, has vast opportunities for co-operation with Kuwait in areas such as finance, investment, digital economy, and I&T, and can assist Kuwait in advancing its Vision 2035. Noting that Kuwait is the rotating President of the GCC currently, Mr Lee expressed his anticipation to strengthen co-operation between Hong Kong and Kuwait, adding that he looks forward to establishing closer economic, trade and cultural exchanges with more GCC member states.
     
    Mr Lee highlighted that Hong Kong enjoys the advantage of connecting the country with the world under the “one country, two systems” principle. Hong Kong will fully leverage its role as a bridge to serve enterprises in going global and attracting external investment, complementing the strengths of Mainland enterprises while deepening international exchanges and co-operation. He welcomed the Kuwaiti Government and enterprises to utilise Hong Kong’s role as a “super connector” and “super value-adder” to explore new opportunities under the Belt and Road Initiative for mutual benefit.
     
    Later, Mr Lee and the delegation met with representatives of a local corporation, Bukhamseen Group Holding Company, to learn about the latest developments in the company’s businesses in construction, real estate, financial services, and culture and tourism. Mr Lee introduced Hong Kong’s development opportunities and its highly internationalised and market-oriented business environment with its pool of professional services talent. He welcomed the company to use Hong Kong as a springboard to develop diversified businesses and tap into the Mainland market, better grasping the immense opportunities brought by the Belt and Road Initiative and the development of the Guangdong-Hong Kong-Macao Greater Bay Area.
     
    Mr Lee then visited the Sheikh Abdullah Al Salem Cultural Centre to learn about Kuwait’s arts and culture projects and developments. The Sheikh Abdullah Al Salem Cultural Centre, which opened in 2018, comprises eight buildings, six of which are museums with different themes, housing a total of 22 display halls.
     
    Mr Lee said that the Hong Kong Special Administrative Region (HKSAR) Government is committed to developing Hong Kong into an East-meets-West centre for international cultural exchanges, with the West Kowloon Cultural District as one of the world’s largest arts and culture projects. Both Hong Kong and Kuwait place importance on arts and culture development, and he said he looks forward to further deepening connections and co-operation in cultural exchanges between the two places.
     
    The delegation led by Mr Lee attended a dinner hosted by the Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the State of Kuwait, Mr Zhang Jianwei. Mr Lee expressed gratitude to the Embassy for making meticulous arrangements for this visit and for its continued support to the HKSAR Government and the Hong Kong Economic and Trade Office in Dubai. The HKSAR Government will continue to promote economic, trade, and cultural exchanges between Hong Kong and Kuwait.
     
    Mr Lee will lead the delegation to continue its visit to Kuwait tomorrow (May 14), meeting with local political and business leaders, and visiting enterprises.
    Issued at HKT 23:47

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Global: Tax Canadian movies? Why culture has always been at the centre of trade wars

    Source: The Conversation – Canada – By Sarah E.K. Smith, Canada Research Chair in Art, Culture & Global Relations and Associate Professor, Faculty of Information & Media Studies, Western University

    The United States government recently announced a plan to leverage a 100 per cent tariff on “foreign” films. President Donald Trump explained it was because he wanted to protect the U.S. film industry. He said other reasons include “national security” and “propaganda.”

    The current announcement may seem out of place in trade talks about steel and automobiles. But culture has long been a key part of North American trade relations.

    In my book, Trading on Art: Cultural Diplomacy and Free Trade in North America, I examine how culture became a vital tool for shaping relationships among Canada, Mexico and the United States. I focus on visual art — including exhibitions and museum initiatives — to show how culture is intertwined with the negotiation of free trade in North America.

    A history of cultural negotiations

    In the late 20th century, when Canada negotiated the Canada-United States Free Trade Agreement (later expanded into NAFTA), culture was central to free-trade debates.

    The period was charged with anxiety over American cultural imperialism and concerns about protecting Canadian cultural production. Ultimately, at Canada’s urging, culture was formally exempted from free-trade agreements, with limited provisions focused on cultural industries. But even though the cultural exemption in trade agreements may give the impression that culture has nothing to do with the histories of free trade, my research shows otherwise.

    This exemption isn’t just about protecting markets. Political scientist Patricia Goff says it also comes from a “desire to uphold …a distinct cultural identity.” Culture held a key place in the discussions about the impact of free trade. And it served as a means to construct new geopolitical identities, helping to introduce and reinforce the trade alliance.

    Culture was mobilized in different ways. It functioned as a unifying tool, but also a venue for critique.

    For example, following the creation of NAFTA, the online exhibition Panoramas: The North American Landscape in Art brought together art from Canada, Mexico and the U.S. The show offered a new transnational approach and explored landscapes across the continent.

    Other artworks such as Free Expression by Canadian activist-artists Carole Condé and Karl Beveridge articulated a critical response to impending free trade. Their piece depicts apprehension about the danger of U.S. cultural domination and speaks to the need to protect Canada’s cultural producers.

    Art as a diplomatic tool

    All three governments — of Canada, Mexico and the United States — used art exhibitions as a way to create and share stories about North American unity. While art has long been used for national narratives, this collaboration and these new stories about the North American region were a departure.

    For most of the 20th century, people did not think of North America as a unified or shared cultural entity. Most people saw the Americas as divided between Anglo and Latin America.

    Art was seen as a means to overcome this. It provided a way to support and depict the new alliance between Canada, Mexico and the United States under free trade. Exhibitions offered a way to depict North America in a new perspective. They presented concepts about continental unity to the public.

    During a trip to Canada, President Ronald Reagan, Nancy Reagan, Prime Minister Brian Mulroney and Mila Mulroney sing during a gala performance at Grand Théâtre de Québec in March 1985.
    (Ronald Reagan Library), CC BY

    How could Canada, Mexico and the United States understand themselves as part of a regional group? These art shows worked on many levels. They brought together work that helped make visual, thematic connections. They helped cultural professionals meet and make connections. They helped museums forge relationships.

    On top of that, the exhibitions also provided diplomatic spaces. Many openings celebrated specific moments in bi- and trilateral relationships, creating and facilitating social spaces for diplomatic and government connections.

    In this way, these exhibitions functioned as a form of cultural diplomacy. Some were initiated by governments to mark the economic integration of the continent. Others picked up on new understandings of the continent that were circulating. It was a process, according to American historian Nicholas Cull, by which international relationships became managed through the circulation of “cultural resources and achievements.”

    Art and cultural exchange gave people a meaningful and accessible way to see and understand the growing ties between the three countries. Art also offered a powerful and engaging way to tell the public about North American connections.

    Artistic resistance, critiques of free trade

    These were not the only messages circulating in this period. A body of contemporary art questioned and challenged free trade.

    For many Canadian artists, their work offered a means to question and critique increasing economic integration under free trade. In the 1980s and ‘90s, video art was a particularly active site for such work.

    An affordable medium that was easily disseminated, video art critiqued the media coverage of free trade, reflected on cultural nationalism and advanced experimental narratives about North America. Video art was also deeply tied to the anti-globalization protests that began at the start of the economic integration of North America under free trade.

    Video offered a space for creative expression and documentation of the protests. Video also enhanced protection for activists who were safer because they were recording their encounters with law enforcement. Beyond producing artworks, many artists joined other cultural producers, community and labour organizations to advocate against free trade.

    A behind-the-scenes image from the film shoot for ‘Acknowledgment’ (2020) by Jonathan Elliott.
    (Andrew Williamson for the City of Toronto/Toronto History Museums), CC BY-NC

    The role of culture

    Free-trade agreements radically reshaped the economies and public understandings of the western hemisphere in the late 20th century. Political scientist Guy Poitras argues that North America as a region was invented at this time.

    Culture is often overlooked when considering free-trade histories and dismissed as a form of “soft power.” But the cultural sphere does not sit apart from daily life and political economic concerns. Art and exhibitions from this period offer a rich vantage point on how free trade was perceived and contested. Examination of culture also reveals how it was used to construct a North American identity.

    Culture is not simply an entity to be instrumentalized for international relations, but a key venue in which these relations always play out. In the lead up to the renegotiation of the Canada-United States-Mexico Agreement and amid the current tariff war, the ties between Canada, Mexico and the United States seem fragile. We should pay attention to how culture will be used as a tool to support or fracture these connections.

    Sarah E.K. Smith receives funding from the Canada Research Chairs program, the Social Sciences and Humanities Research Council, and Western University. She is affiliated with the North American Cultural Diplomacy Initiative and the International Cultural Relations Research Alliance.

    ref. Tax Canadian movies? Why culture has always been at the centre of trade wars – https://theconversation.com/tax-canadian-movies-why-culture-has-always-been-at-the-centre-of-trade-wars-256022

    MIL OSI – Global Reports

  • MIL-OSI USA: Congressman Dan Goldman Introduces Legislation to Extend Student Loan Forgiveness to Volunteer Firefighters and First Responders

    Source: US Congressman Dan Goldman (NY-10)

    80,000 Volunteer Firefighters Across New York State, Nearly Half of NY EMS Agencies Rely Solely on Volunteers   

       

    PSLF Encourages Public Service Enrollment in Fields Where Limited Staffing Jeopardizes Emergency Response Efforts  

       

    Volunteer Firefighters Account for 65% of U.S. Firefighting Force  

       

    Read the HEROES Act of 2025 Here  

    Washington, DC – Congressman Dan Goldman (NY-10) introduced the Helping Emergency Responders Overcome Student Debt (HEROES) Act of 2025, which would expand eligibility for loan forgiveness under the Public Service Loan Forgiveness (PSLF) Program to include volunteer firefighters and volunteer EMTs.  

    “Volunteer firefighters and EMTs risk their lives every day to keep us safe, yet they’re too often denied the recognition and support granted to other public servants,” Congressman Dan Goldman said. “As the number of volunteer firefighters and EMTs continues to decline, we must prioritize the first responders who keep communities across our city, state, and country safe. Those who put their lives on the line deserve nothing less than the full support and resources afforded to all public servants.”

    The Firefighters Association of the State of New York (FASNY) said, “One of the biggest challenges facing volunteer response agencies is the critical need to attract new members. Including volunteer firefighters and EMS personnel in the Public Service Loan Forgiveness Program would be an effective addition to their recruitment toolbox. It would also assist them in retaining existing volunteers, who often work several jobs in addition to volunteering. We commend Congressman Goldman for recognizing the value of volunteer first responders and for his efforts to support them.”  

    Volunteer firefighters are estimated to save localities across the country nearly 47 billion dollars annually. The HEROES Act would not only provide crucial support to our dedicated first responders but also help address staffing shortages by incentivizing more individuals to volunteer their time.  

    Established to bolster recruitment and retention efforts in the public sector, the PSLF Program forgives borrowers’ student loans after they work for ten years in a qualifying public service and make 120 qualifying payments. Despite working in qualifying public services, however, volunteer EMTs and firefighters are currently excluded from the program. Nationwide, volunteer firefighters make up 65% of the firefighting force, with 19,000 fire stations relying on them exclusively.  

    In addition to expanding coverage to volunteer firefighters and EMTs, the HEROES Act would require the Department of Education, which oversees the PSLF program, to outline minimum volunteer time requirements for eligibility and develop regulations for tracking and verifying volunteer time.  

    Congressman Dan Goldman is committed to supporting first responders who dedicate their lives to the betterment of their communities.   

    This past February, Congressman Goldman introduced the ‘9/11 Responder and Survivor Health Funding Correction Act’ which would provide permanent and mandatory funding for the World Trade Center Health Program (WTCHP) and update an outdated funding formula to prevent a future funding shortfall, ensuring survivors and first responders don’t lose access to care.  
    In February, Congressman Goldman introduced the ‘Chief Herbert D. Proffitt Act,’ which would ensure the families of law enforcement officers who are killed as a result of their work on behalf of their communities are not unjustly denied benefits due to arbitrary retirement status restrictions. The legislation would amend the Public Safety Officers’ Benefits (PSOB) program to ensure the families of fallen officers receive the benefits they deserve.

    ###

    MIL OSI USA News

  • MIL-OSI: Bitcoin Breaks Out Again — BexBack Empowers Traders to Ride the Momentum with 100x Leverage, No KYC, and Double Deposit Bonuses

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, May 13, 2025 (GLOBE NEWSWIRE) — With Bitcoin now holding strong above the $100,000 mark and flashing renewed bullish momentum on the daily chart, the market is once again sending a clear message: the bull run isn’t over. MACD crossover signals, strong price support at $96,000, and aggressive follow-through candles suggest that the next leg higher may already be underway.

    As traders across the globe rush to capitalize on breakout opportunities, BexBack, a fast-growing cryptocurrency derivatives platform, is offering the tools, flexibility, and rewards that modern traders demand — including 100x leverage, no KYC, and over 50 tradable crypto contracts.

    “This chart tells the story — the bulls are back, and momentum is accelerating,” said David, Operations Director at BexBack. “We want to give traders the ability to take full advantage of market conditions, with high leverage, instant access, and powerful trading incentives.”

    Key Features of BexBack:

    • 100x Leverage on 50+ Crypto Contracts
      Maximize capital efficiency by trading BTC, ETH, ADA, SOL, XRP, and more with up to 100x leverage.
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      Make a deposit of at least 0.01 BTC or 1000 USDT and complete your first trade within one week to receive a $100 bonus — usable as margin.
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      Double your first deposit with BexBack’s 100% bonus offer. For example, deposit 1 BTC and get 1 BTC in bonus margin (non-withdrawable, but usable for trading).
    • Zero Spread Execution
      All trades execute at the displayed price — no spread, no slippage, no surprises.
    • Demo Account with Virtual Funds
      New to futures trading? Start risk-free with 10 BTC or 1M USDT in demo funds and test your strategy before going live.
    • Global Coverage + 24/7 Support
      BexBack operates in 200+ countries and regions, with multilingual customer support available around the clock.

    The Market Is Moving — Are You?

    Bitcoin’s chart is clear: upward momentum is building, and technical indicators are aligning with market sentiment. While many traders are stuck watching from the sidelines, BexBack gives you the edge to enter positions with confidence and scale.

    About BexBack

    BexBack is a leading cryptocurrency derivatives exchange headquartered in Singapore, offering perpetual contracts with up to 100x leverage on more than 50 digital assets. With its KYC-free registration, professional-grade infrastructure, and powerful bonus system, BexBack is trusted by over 500,000 traders worldwide. The platform is fully MSB-registered under U.S. FinCEN and is accessible across the U.S., Canada, Europe, and beyond.

    Start trading now at www.bexback.com Claim your 100% deposit bonus + $100 Trading bonus and join the next wave of crypto opportunity.

    Website: www.bexback.com

    Contact: business@bexback.com

    Contact:
    Amanda
    business@bexback.com

    Disclaimer: This content is provided by BexBack. he 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/4ed2149c-d1b2-492e-a516-215b8143e422

    https://www.globenewswire.com/NewsRoom/AttachmentNg/bbfcc703-a321-4444-9cc2-daaf313fde90

    https://www.globenewswire.com/NewsRoom/AttachmentNg/52c6f6ee-aa9a-441c-ae63-1c2ea0df002b

    The MIL Network

  • MIL-OSI: HUMAIN and NVIDIA Announce Strategic Partnership to Build AI Factories of the Future in Saudi Arabia

    Source: GlobeNewswire (MIL-OSI)

    RIYADH, Saudi Arabia, May 13, 2025 (GLOBE NEWSWIRE) — HUMAIN, the new full AI value chain subsidiary of Saudi Arabia’s Public Investment Fund, today announced a landmark strategic partnership with NVIDIA, the world leader in AI computing infrastructure, to drive the next wave of artificial intelligence development.

    The two organizations will leverage NVIDIA platforms and expertise to establish Saudi Arabia as a global leader in AI, GPU cloud computing and digital transformation to drive innovation and growth worldwide.

    The partnership underscores HUMAIN’s mission to position Saudi Arabia as an international AI powerhouse — combining cutting-edge infrastructure, frontier AI models, immersive digital platforms and human capital development.

    Powering AI Factories of Tomorrow

    HUMAIN is making a major investment to build AI factories in the Kingdom of Saudi Arabia with a projected capacity of up to 500 megawatts powered by several hundred thousand of NVIDIA’s most advanced GPUs over the next five years. The first phase of deployment will be an 18,000 NVIDIA GB300 Grace Blackwell AI supercomputer with NVIDIA InfiniBand networking.

    These hyperscale AI data centers will provide a secure foundational infrastructure for training and deploying sovereign AI models at scale, enabling industries across Saudi Arabia and worldwide to accelerate innovation and digital transformation.

    Unlocking the Era of Physical AI With NVIDIA Omniverse

    HUMAIN will deploy the NVIDIA Omniverse™ platform as a multi-tenant system to drive acceleration of the new era of physical AI and robotics through simulation, optimization and operation of physical environments by new human-AI-led solutions. This will allow industries such as manufacturing, logistics and energy to create fully integrated digital twins, boosting efficiency, safety and sustainability while fast-tracking the Kingdom’s journey toward Industry 4.0.

    Enabling the Kingdom’s AI Ecosystem Through Workforce Transformation

    To support this transformation, HUMAIN and NVIDIA will collaborate on large-scale upskilling and training initiatives, providing thousands of Saudi citizens and developers with hands-on experience in advanced AI, simulation, robotics and digital twin technologies. This effort will contribute to building a robust national AI ecosystem and align with Saudi Arabia’s Vision 2030 goals of economic diversification and digital leadership.

    “AI, like electricity and internet, is essential infrastructure for every nation,” said Jensen Huang, founder and CEO of NVIDIA. “Together with HUMAIN, we are building AI infrastructure for the people and companies of Saudi Arabia to realize the bold vision of the Kingdom.”

    “We thank NVIDIA for their strategic partnership with the Kingdom. This collaboration with HUMAIN marks a turning point, building the AI factories of the future, unlocking compute and powering the next era of physical AI,” said His Excellency Eng. Abdullah Alswaha, Minister of Communications and Information Technology. “This lays the groundwork for a new industrial revolution, anchored in advanced infrastructure, talent and global ambition. This is how Saudi Arabia continues to lead as a partner of choice in shaping the future of AI.”

    “Our partnership with NVIDIA is a bold step forward in realizing the Kingdom’s ambitions to lead in AI and advanced digital infrastructure,” said Tareq Amin, CEO of HUMAIN. “Together, we are building the capacity, capability and a new globally enabled community to shape a future powered by intelligent technology and empowered people.”

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

    About HUMAIN
    HUMAIN is a global artificial intelligence company delivering full-stack AI capabilities across four core areas — next-generation data centers, hyper-performance infrastructure and cloud platforms, advanced AI models, including the world’s most advanced Arabic multimodal LLMs, and transformative AI Solutions that combine deep sector insight with real-world execution.

    HUMAIN’s end-to-end model serves both public and private sector organizations, unlocking exponential value across all industries, driving transformation and strengthening capabilities through human-AI synergies. With a growing portfolio of sector-specific AI products and a core mission to drive IP leadership and talent supremacy world-wide, HUMAIN is engineered for global competitiveness and national distinction.

    HUMAIN is headquartered in Riyadh, Saudi Arabia with presence in the USA and Europe; offices opening soon.

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

    Charles Palmer, FTI
    charles.palmer@fticonsulting.com
    +44 7976 743360

    Certain statements in this press release including, but not limited to, statements as to: the benefits and impact of NVIDIA’s products, services, and technologies; the partnership between NVIDIA and HUMAIN and the impact and benefits thereof; and HUMAIN and NVIDIA building the AI infrastructure for the people and companies of Saudi Arabia to realize the bold vision of the Kingdom are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections and that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic conditions; our reliance on third parties to manufacture, assemble, package and test our products; the impact of technological development and competition; development of new products and technologies or enhancements to our existing product and technologies; market acceptance of our products or our partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of our products or technologies when integrated into systems; as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

    © 2025 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo and NVIDIA Omniverse are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries. Other company and product names may be trademarks of the respective companies with which they are associated.

    The MIL Network

  • MIL-OSI: Prosafe SE: Report from Nomination Committee published

    Source: GlobeNewswire (MIL-OSI)

    Prosafe SE (the “Company”) refers to the notice published on 30 April 2025 in respect of the Company’s Annual General Meeting to be held on 21 May 2025 at 08.30 a.m. CEST.

    The report from the Nomination Committee is now published and available on the Company’s website at: https://www.prosafe.com/investor-information/corporate-governance/general-meetings/

    Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The Company is listed on the Oslo Stock Exchange with ticker code PRS.

    For more information, please refer to www.prosafe.com (http://www.prosafe.com)

    Oslo, 13 May 2025

    Prosafe SE

    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.

    The MIL Network

  • MIL-OSI USA News: Fact Sheet: President Donald J. Trump Secures Historic $600 Billion Investment Commitment in Saudi Arabia

    Source: The White House

    STRENGTHENING STRATEGIC PARTNERSHIPS FOR ECONOMIC PROSPERITY:
    Today in Saudi Arabia, President Donald J. Trump announced Saudi Arabia’s $600-billion commitment to invest in the United States, building economic ties that will endure for generations to come. The first deals under the announcement strengthen our energy security, defense industry, technology leadership, and access to global infrastructure and critical minerals. 

    • The deals celebrated today are historic and transformative for both countries and represent a new golden era of partnership between the United States and Saudi Arabia.
    • From day one, President Trump’s America First Trade and Investment Policy has put the American economy, the American worker, and our national security first.
    • The following represent just a few of the many transformative deals secured in Saudi Arabia:
      • Saudi Arabian DataVolt is moving forward with plans to invest $20 billion in AI data centers and energy infrastructure in the United States.
      • Google, DataVolt, Oracle, Salesforce, AMD, and Uber are committing to invest $80 billion in cutting-edge transformative technologies in both countries.
      • Iconic American companies including Hill International, Jacobs, Parsons, and AECOM are building key infrastructure projects like King Salman International Airport, King Salman Park, The Vault, Qiddiya City, and much more totaling $2 billion in U.S. services exports.
      • Additional major exports include GE Vernova’s gas turbines and energy solutions totaling $14.2 billion and Boeing 737-8 passenger aircraft for AviLease totaling $4.8 billion.
      • In the healthcare sector, Shamekh IV Solutions, LLC will be investing $5.8 billion, including a plant in Michigan to launch a high-capacity IV fluid facility.
      • Investment partnerships include several sector-specific funds with a strong emphasis on U.S. deployment—such as the $5 billion Energy Investment Fund, the $5 billion New Era Aerospace and Defense Technology Fund, and the $4 billion Enfield Sports Global Sports Fund—each channeling substantial capital into American industries, driving innovation, and creating high-quality jobs across the United States.
    • Underscoring our commitment to strengthening our defense and security partnership, the United States and Saudi Arabia signed the largest defense sales agreement in history—nearly $142 billion, providing Saudi Arabia with state-of-the-art warfighting equipment and services from over a dozen U.S. defense firms.
      • The sales that we intend to complete fall into five broad categories: (1) air force advancement and space capabilities, (2) air and missile defense, (3) maritime and coastal security, (4) border security and land forces modernization, and (5) information and communication systems upgrades. 
      • The package also includes extensive training and support to build the capacity of the Saudi armed forces, including enhancement of Saudi service academies and military medical services.
      • This deal represents a significant investment in Saudi Arabia’s defense and regional security, built on American systems and training.
    • The United States and Saudi Arabia celebrate these and many other deals today as a result of the growing momentum of the last four months. The total package has quickly built to more than $600 billion–the largest set of commercial agreements on record between the two countries.

    UNLOCKING NEW OPPORTUNITIES THROUGH DEEPER ALLIANCES: The strategic partnership between the United States and Saudi Arabia has grown increasingly robust over the past eight decades since the meeting between King Abdulaziz Al Saud and President Franklin D. Roosevelt on board the USS Quincy, the 80th anniversary of which was celebrated earlier this year.

    • Saudi Arabia is one of the United States’ largest trading partners in the Middle East.
      • Saudi direct investment in the United States totaled $9.5 billion in 2023, focused on the transportation, real estate, and automotive sectors.
      • In 2024, U.S.-Saudi Arabia goods trade totaled $25.9 billion, with U.S. exports at $13.2 billion, imports at $12.7 billion, and a trade surplus in goods of $443 million. 
    • The United States and Saudi Arabia share a commitment to deeper economic integration, underscoring the Kingdom’s pledge of expanding cooperation in critical sectors such as health, energy, and science.
      • The U.S. Department of Energy and the Ministry of Energy of the Kingdom of Saudi Arabia have concluded an agreement for cooperation in the field of energy.  This agreement builds upon their strong existing relationship; it will focus collaboration on examining the potential for innovation, development, financing, and deployment of energy infrastructure.
      • The Ministry of Industry and Mineral Resources in the Kingdom of Saudi Arabia and the Department of Energy of the United States of America have signed a Memorandum of Cooperation to collaborate on mining and mineral resources.  The agreement contributes to economic development and the diversification and resilience of critical mineral supply chains.
      • NASA and the Saudi Space Agency have signed an agreement for a CubeSat to fly on NASA’s Artemis II test flight. Saudi Arabia’s CubeSat will measure aspects of space weather at a range of distances from Earth and deploy in high Earth orbit from a spacecraft adapter on the Space Launch System rocket after the Orion spacecraft is safely flying on its own with its crew of four astronauts.
      • The United States and Saudi Arabia recently agreed to modernize the Air Transport Agreement to allow U.S. airlines to carry cargo between Saudi Arabia and third countries without needing to stop in the United States, an important right for cargo hub operations. Saudi carriers will have the same rights to serve the United States.
    • The United States and Saudi Arabia further underscored their commitment to deeper cultural, educational, and scientific partnerships through the signing of agreements between the Smithsonian Institution’s National Museum of Asian Art and the Royal Commission for AlUla on collaborative research and an exhibition focused on artifacts from ancient Dadan in AlUla, and between the Smithsonian’s National Zoo and the Royal Commission for AlUla to support the conservation of the endangered Arabian leopard through creation of a dedicated exhibit in Washington, D.C.
    • Saudi Arabia remains our largest Foreign Military Sales partner with active cases valued at more than $129 billion.
      • Our defense relationship with the Kingdom of Saudi Arabia is stronger than ever under President Trump’s leadership, and the package signed today, the largest defense cooperation deal in U.S. history, is a clear demonstration of our commitment to strengthening our partnership.
      • The agreement opens the door for expanded U.S. defense industry participation and long-term sustainment partnerships with Saudi entities.
    • The deepening United States-Saudi Arabia partnership reflects a joint vision for long-term prosperity and employment opportunities in both nations.

    BUILDING ON A RECORD OF WINNING AT HOME AND ABROAD: President Trump is delivering on his promise to Make America Great Again by catalyzing investment and negotiating fair trade deals to accelerate American employment and prosperity.

    • President Trump is the dealmaker in chief, and he has once again secured a historic deal that strengthens America’s economic dominance and global influence. 
    • This comes just one week after President Trump announced a U.S.-UK trade agreement that levels the playing field, creates jobs, and opens market access with the United Kingdom.
    • Leading up to this historic deal, President Trump had already secured trillions in U.S.-based investments, setting the stage for a new era of American prosperity.
    • The $600 billion in Saudi investment in the United States builds on President Trump’s record in 2017 of securing billions in commercial deals and agreements with Saudi Arabia for the defense, energy, technology, and infrastructure sectors.

    MIL OSI USA News

  • MIL-OSI Canada: Province Lifts Moratorium on Seafood Buying, Processing Licences

    Source: Government of Canada regional news

    Nova Scotians can apply for seafood buyer and processor licences starting August 1, as the Province ends the moratorium that started in 2018.

    “Now, more than ever, we have the opportunity to reimagine the economic potential of our traditional and natural resources,” said Kent Smith, Minister of Fisheries and Aquaculture. “Accepting applications from new entrants, or established businesses that want to diversify or expand their products, will help drive the economy and grow our seafood sector.”

    Over the last seven years, the Province has consulted with industry representatives during a policy and regulation review, which is now complete. The moratorium was a temporary measure to maintain fair competition and to reduce speculation during the review period.

    Seafood is Nova Scotia’s primary export and generates significant economic return to the province, supporting about 20,000 jobs. Buyers purchase seafood after it has been caught, and processors produce seafood products such as fish fillets and frozen snow crab sections.

    About 50 per cent of the industry is in southwest Nova Scotia. Nova Scotia fish and seafood exports totalled $2.4 billion in 2024.

    The Province is also lifting the long-standing moratorium on issuing groundfish buying and processing licences, which has been in place since the 1994 collapse of the groundfish fisheries.

    The moratoriums will be lifted in two stages. The government will begin accepting applications for buyer and processor licences for most species on August 1. Following continued consultation with industry partners, the government will begin accepting applications for lobster buyer licences and snow crab buyer and processor licences on January 2, 2026.


    Quotes:

    “Today’s announcement demonstrates that the government has been listening to industry, and we look forward to continuing those conversations. Lifting the moratorium and ensuring new entrants are qualified will support continued diversification of the shore sector and provide strong measures to ensure that the multi-generational family enterprises that are the basis of this industry will continue to contribute to strengthen the provincial economy while also welcoming new entrants.”
    Kris Vascotto, Executive Director, Nova Scotia Seafood Alliance

    “As a market and customer-focused seafood company, Sea Star needs a flexible and responsive licensing system that allows me access to the licences that I need when I need them so that I can grow my business. The moratorium has been an artificial barrier to maximizing the value of Nova Scotia’s seafood sector. I fully support the Minister’s intention to lift the licensing moratorium, and I want to thank him and his team for bringing the long-standing policy review to a close so that we can all refocus on selling our fish to the world.”
    Kerry Cunningham, sales/procurement, Sea Star Seafoods

    “We are pleased with the Minister’s decision to lift the licensing moratorium. We strongly believe in a free market approach to fish buyer and fish processor licensing that is responsive to market conditions while also encouraging growth and innovation in the sector. We look forward to continuing our collaboration with the Minister and his Department as they set the regulatory conditions for our seafood sector to compete and thrive in the global seafood marketplace.”
    Ian McIsaac, President, Seafood Producers Association of Nova Scotia


    Quick Facts:

    • fish and seafood products were Nova Scotia’s largest export commodity in 2024, accounting for 36 per cent of the province’s export goods
    • 329 companies in Nova Scotia have buying and/or processing licences
    • there are 4,000 registered fishing vessels and more than 5,700 commercial fishing licence holders in Nova Scotia
    • harvest quotas are regulated by the federal government; lifting the moratorium on buyer and processor licences does not impact the volume of seafood harvested

    Additional Resources:

    Fish processors and fish buyer licence policy: https://novascotia.ca/fish/commercial-fisheries/licensing-leasing/

    Nova Scotia Seafood Export Directory: https://nsseafood.com/directory#&market_id=


    Other than cropping, Province of Nova Scotia photos are not to be altered in any way.

    MIL OSI Canada News

  • MIL-OSI: Champion Safe’s 2025 Trophy Series Attracts Strong Dealer Interest with Key Upgrades

    Source: GlobeNewswire (MIL-OSI)

    Provo, UT, May 13, 2025 (GLOBE NEWSWIRE) — Since its 2025 launch, the newly enhanced Trophy Series from 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) has been generating significant interest among dealers looking for a high-security, high-value safe that outperforms comparable offerings. With key design and security upgrades for 2025, the Trophy Series is proving to be an even stronger competitor in the marketplace.

    The Trophy Series has long been a trusted choice for customers who demand both strength and style, and the latest improvements further enhance its durability, usability, and visual appeal. This year’s updates include:

    NEW Chrome-Plated Pull Handle – A modern design upgrade that enhances both appearance and user comfort.

    NEW Radial Gear Drive Mechanism – Ensures smoother, more reliable operation.

    NEW Black and Gray Plush Interior – Adds a refined touch while maintaining maximum storage capacity.

    NEW ½” Radius Edges – A sleeker look that distinguishes Trophy from competing safes.

    Beyond its design enhancements, the Trophy Series remains one of the most rugged safes in its class. With a 4½-inch-thick double-plate door, a 10-gauge steel outer shell, and Champion’s exclusive Diamond-Embedded Armor Plate™, it offers a level of security that many competitor models can’t match. The 1200°F fire rating for two hours ensures industry-leading fire protection for firearms, valuables, and important documents.

    “We’re seeing strong interest from dealers who recognize that the Trophy Series offers a clear advantage over other safes in its class,” said Tom Mihalek, CEO of Champion Safe Company. “The combination of premium security features, improved usability, and a refined design makes it an even easier choice for both dealers and customers.”

    Available in multiple sizes and finishes, including high-gloss Black, Ivory, and Platinum, the 2025 Trophy Series is positioned as a top-tier safe at a competitive price.

    For more information about the Trophy Series and to find a dealer, visit ChampionSafe.com.

    #ChampionSafe #TrophySeries #BuiltToProtect #SecureYourLegacy

    About Champion Safe Company
    championsafe.com

    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.

    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 the 2025 product innovations, 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.

    Company Contacts
    ir@americanrebel.com

    The MIL Network

  • MIL-OSI: VEEA® Announces Acquisition of AI-Enabled Smart Spaces Provider Crowdkeep

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 13, 2025 (GLOBE NEWSWIRE) — Veea Inc. (NASDAQ: VEEA), a pioneer in edge computing and AI-driven solutions, announced today that it has acquired substantially all of the technology of Crowdkeep, Inc., a Delaware corporation (“Crowdkeep”) for shares of Veea’s common stock and other consideration.

    Crowdkeep develops and sells a comprehensive enterprise Internet of Things (IoT) platform that disrupts the traditional ways that organizations operate with a technology platform that collects real-time data to help improve the speed and accuracy of critical workplace operations, including schools, hospitals, hotels, manufacturing centers, office towers, construction sites, and virtually any building or campus that need to make fast and informed data-driven decisions about people, assets, and environments.

    Crowdkeep’s software platform will be integrated with Veea’s Edge Platform and utilize VeeaHub products, cameras and sensors with edge AI facilitating the tracking of valuable on-site assets, monitoring of equipment condition, eliminate manual processes associated with managing the workplace environment, while accounting for workers’ time, location, attendance and safety. With converged computing, communications, including 5G, AI inferencing and federated learning, distributed NVMe storage, real-time anomaly detection with ML toolchain, and scalable analytics with a serverless data warehouse platform, the combined solution provides for real-time management of the entire network with data privacy and enterprise-grade cybersecurity for both data-at-rest and data-in motion, as well as massive scalability for construction sites, hospitals, schools, smart buildings, hospitality, industrial warehouses and shipping yards, and many more market segments.

    This strategic acquisition will strengthen Veea’s market position as a leader in hybrid edge-cloud computing and communications solutions by enhancing its ability to deliver a more comprehensive end-to-end solution with AI-driven cybersecurity and cloud-based data and analytics platform allowing users to store, manage, report and analyze large volumes of data with time-to-insights and event notification for Smart Spaces and a wide range of digital transformations at the edge, ultimately benefitting Veea’s current customers and expanding Veea’s global market presence.

    Following the acquisition, Helder Antunes, the current CEO of Crowdkeep and a member of Veea’s board, will be joining Veea’s management team as an Executive Vice President and Chief Revenue Officer. Prior to Crowdkeep, Mr. Antunes was an executive of Cisco Systems for over twenty years, founder and first Chairman of the OpenFog Consortium. Mr. Antunes will drive the sales and marketing activities at Veea while overseeing a portfolio of strategic accounts with a focus on ensuring accurate and timely revenue recognition, aligning financial reporting with contractual obligations in close collaboration with the finance team.

    “This is an important transaction for both Veea and Crowdkeep, marking the beginning of an exciting new chapter. This transformative acquisition underscores Veea’s mission to provide innovative solutions that unlock the full potential of edge computing and AI, bridging the gap to a more connected, secure, and intelligent world,” said Allen Salmasi, Chief Executive Officer. “Together, we are combining our strengths to accelerate product innovation, expand our capabilities and addressable markets, while delivering unique capabilities that we believe no other platform currently offers.”

    “The need for massive data collection at the edge to safely, efficiently, and proactively manage today’s workplace is rapidly increasing,” said Helder Antunes, Chief Executive Officer of Crowdkeep. “The combined capabilities of Crowdkeep and Veea will provide users with real-time insights and actionable data at the edge that will enhance situational awareness, allow for quick decision-making, and enhance safety with AI-powered predictive intelligence.”

    About Veea

    Veea® has unified multi-tenant computing, multiaccess multiprotocol communications, edge storage and cybersecurity solutions through fully integrated cloud- and edge-managed products. Veea’s pioneering Multiaccess Edge Computing (MEC) product, developed from the ground up in several compact form factors, brings together the functionality typically provided for through any combination of servers, Network Attached Storage (NAS) devices, routers, firewalls, Wi-Fi Access Points (APs), IoT gateways, 4G or 5G wireless access, and cloud management by means of multiple hardware, software and systems integrated and maintained by IT/OT professionals. Veea Edge Platform offers application responsiveness, bolsters cybersecurity, data privacy and context awareness, and lowers data transport costs as well as total cost of ownership, while providing for easy installation, operations, monitoring and maintenance of edge networks.

    With Software Defined Networking (SDN), Network Function Virtualization (NFV), and network slicing over LAN, VeeaWare full-stack platform software uniquely provides for cellular-like subscription-based network-managed Wi-Fi and IoT devices over a connectivity and computing mesh network. It also enables application environment for a range of third-party ARM-based, x86-based and CUDA-based products that may incorporate GPUs, TPUs, DPUs, and/or NPUs that are all edge-managed through VeeaCloud.

    Veea was formed in 2014 and is headquartered in New York City with a rich history of major innovations in the development of advanced networking, wireless and computing technologies, along with over 122 granted and 25 pending patents in key aspects of hyperconverged edge computing technologies. For more information, visit veea.com and follow us on LinkedIn.

    About Crowdkeep

    Crowdkeep is an Internet of Things (IoT) platform that empowers users with real-time people and asset positioning to make fast, informed decisions about people, assets, and conditions throughout the workplace. Created out of a desire to introduce a comprehensive IoT platform that enables a safer and more efficient workplace, Crowdkeep looks to the future with agility and confidence to pioneer technologies that have staying power in the constantly evolving digital world.

    Crowdkeep is proud to lead a wave of digital transformation technologies that are changing the way businesses and organizations operate and make decisions. Crowdkeep takes aim at the ineffective and obsolete ways of doing things and offers customers cost effective solutions that are less complex, easy to deploy, and lead to insights and intelligent analysis that help the workplace become more productive and run safer. For more information visit crowdkeep.com.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”) as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “would,” “could,” “seek,” “intend,” “plan,” “goal,” “project,” “estimate,” “anticipate,” “strategy,” “future,” “likely” or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the Company’s strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements include, but are not limited to, risks and uncertainties including those regarding: the Company’s business strategies, and the risk and uncertainties described in “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Cautionary Note on Forward-Looking Statements” and the additional risk described in Veea’s Form 10-K for the year ended December 31, 2024 and any subsequent filings which Veea makes with the U.S. Securities and Exchange Commission. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements made in the press release relate only to events or information as of the date on which the statements are made in the press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.

    The Equity Group

    Devin Sullivan
    Managing Director
    dsullivan@equityny.com

    Conor Rodriguez
    Associate
    crodriguez@equityny.com

    The MIL Network

  • MIL-OSI Asia-Pac: Erick Tsang to visit Hungary, Egypt

    Source: Hong Kong Information Services

    Secretary for Constitutional & Mainland Affairs Erick Tsang will conclude his Beijing visit tomorrow and depart for Hungary and Egypt from May 15 to 20 to attend the Guangdong-Hong Kong-Macao Greater Bay Area Economic & Trade Cooperation Exchange Conferences.

    The conferences are 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 development opportunities of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

    While in Beijing, Mr Tsang led the Hong Kong SAR Government delegation to meet Vice Minister of Foreign Affairs Hua Chunying and leaders of various bureaus to deepen their understanding of the country’s foreign policies and the latest developments of the international situation.

    Mr Tsang thanked the Ministry of Foreign Affairs for its staunch and continuous support for the Hong Kong SAR Government.

    He hoped it would continue to provide support and guidance to the Hong Kong SAR Government in handling the city’s external affairs, to support Hong Kong in intensifying international interaction and co-operation, and to showcase the successful implementation of “one country, two systems” to the world.

    Mr Tsang also met the Hong Kong Basic Law Committee of the Standing Committee of the National People’s Congress and the Committee on Liaison with Hong Kong, Macao, Taiwan & Overseas Chinese of the National Committee of the Chinese People’s Political Consultative Conference, and toured the China Foreign Affairs University.

    Before leaving Beijing tomorrow, he will visit the Museum of Early Revolutionary Activities of the Communist Party of China in Beijing, meet Hong Kong students in Beijing, and call on the Office of the Hong Kong SAR Government in Beijing to receive briefings on its work.

    Mr Tsang will leave for Budapest, Hungary, in the early hours of May 15 to attend the Guangdong-Hong Kong-Macao Greater Bay Area – Europe (Hungary) Economic & Trade Cooperation Exchange Conference the next day.

    The conference aims to promote the enormous business opportunities brought about by the GBA to the Hungarian business community and how Hong Kong can play its important function as a “super connector” and “super value-adder” between the two places.

    During his stay in Hungary, Mr Tsang will meet local political and business representatives to learn about the latest developments in the region and explore ways to further strengthen co-operation between Hungary and Hong Kong, with a view to opening up new opportunities for enterprises of both places.

    He will depart for Cairo, Egypt, on May 17 for the Guangdong-Hong Kong-Macao Greater Bay Area – Africa (Egypt) Economic & Trade Cooperation Exchange Conference on May 19 to promote the GBA’s latest developments and the development potential as well as Hong Kong’s unique advantages under “one country, two systems”.

    During his stay, he will exchange views with representatives of the local political and business circles to understand the local development trends and promote interface between the industries of Hong Kong and Egypt.

    Mr Tsang will leave Egypt on the evening of May 19, returning to Hong Kong on May 20. During his absence, Under Secretary for Constitutional & Mainland Affairs Clement Woo will be Acting Secretary.

    Commissioner for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area Maisie Chan and Director-General of Investment Promotion Alpha Lau will join the visits.

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: Uzbekistan is preparing to cancel the double customs duty on a number of imported goods

    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

    Tashkent, May 13 /Xinhua/ — Uzbekistan is considering an initiative to abolish the double rate of customs duties on a number of imported goods, the UzDaily.uz news portal reported on Tuesday.

    As reported, the relevant bill, aimed at introducing amendments and additions to the Customs Code, was approved by deputies of the Legislative Chamber of the Oliy Majlis (lower house of parliament) in the second reading.

    It is indicated that the document proposes abandoning the practice of applying increased duties in cases of import of products from countries that do not have the most favoured nation treatment in trade and economic relations with Uzbekistan, as well as if the country of origin of the goods is not indicated.

    As the deputies noted, the draft law is aimed at eliminating existing gaps in legal regulation, creating a more favorable investment climate and actively attracting foreign investment. In addition, its adoption will bring national legislation closer to the standards of the World Trade Organization and will facilitate the expansion of the country’s foreign economic relations. –0–

    MIL OSI Russia News

  • MIL-OSI: Wearable Devices Receives U.S. Patent Notice of Allowance for Hybrid Voice and Gesture Control Innovation

    Source: GlobeNewswire (MIL-OSI)

    Newly allowed patent extends Wearable Devices’ innovative gesture technology into the domain of voice control

    YOKNEAM ILLIT, ISRAEL, May 13, 2025 (GLOBE NEWSWIRE) — Wearable Devices Ltd. (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), a technology growth company specializing in artificial intelligence (“AI”)-powered touchless sensing wearables, today announced that the United States Patent and Trademark Office has allowed its patent titled “Gesture and Voice-Controlled Interface Device.”

    This patent represents a significant advancement in the Company’s strategic intellectual property (“IP”) portfolio, strengthening global protection for its core innovations in wearable bio-potential sensors. The Company’s IP strategy includes patent families designed to protect a wide spectrum of future applications, ensuring agility in response to emerging global market needs.

    The newly allowed patent enables the integration of gesture recognition with voice control interfaces, introducing personalization features, and combining both neural and voice-based user authentication. This creates a more seamless, secure, and intuitive human-machine interaction.

    The patented technology enables intuitive, hands-free interaction across a wide range of applications. For example, users wearing AI-powered or augmented reality (“AR”) glasses can navigate maps, control audio, and access virtual assistants using natural gestures and voice commands. In smart home applications, a user can use their voice to select a home appliance to control – such as the TV volume or air conditioning temperature – and then use subtle gestures to fine-tune the settings. In multi-user environments, such as smart homes or shared AR systems, the device intelligently recognizes individual users through unique gesture and voice signatures, delivering personalized experiences. In clinical or surgical settings, medical professionals can interact with digital interfaces – scrolling, zooming, or switching views – without compromising sterility, using only in-air gestures and voice cues.

    “Voice control is an essential interface for smart environments, but it often lacks the precision, personalization and the security users need,” said Guy Wagner, President and Chief Scientific Officer of Wearable Devices. “By integrating voice and gesture-based interaction along with neural and voice-based user authentication, we’re bridging that gap, enabling users not only initiate actions by voice but also to fine-tune and personalize device behavior through intuitive gestures. This combination introduces a new dimension of seamless, secure, and intelligent human-computer interaction.”

    About Wearable Devices Ltd.

    Wearable Devices Ltd. is a pioneering growth company revolutionizing human-computer interaction through its AI-powered neural input technology for both consumer and business markets. Leveraging proprietary sensors, software, and advanced AI algorithms, the Company’s innovative products, including the Mudra Band for iOS and Mudra Link for Android, enable seamless, touch-free interaction by transforming subtle finger and wrist movements into intuitive controls. These groundbreaking solutions enhance gaming and the rapidly expanding AR/VR/XR landscapes. The Company offers a dual-channel business model: direct-to-consumer sales and enterprise licensing. Its flagship Mudra Band integrates functional and stylish design with cutting-edge AI to empower consumers, while its enterprise solutions provide businesses with the tools to deliver immersive and interactive experiences. By setting the input standard for the XR market, Wearable Devices is redefining user experiences and driving innovation in one of the fastest-growing tech sectors. Wearable Devices’ ordinary shares and warrants trade on the Nasdaq under the symbols “WLDS” and “WLDSW,” respectively.

    Forward-Looking Statements Disclaimer

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we discuss our IP strategy and the benefits and advantages of it, emerging global market needs and the benefits and advantages of newly patented technology. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. 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: the trading of our ordinary shares or warrants and the development of a liquid trading market; our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2024, filed on March 20, 2025 and our other filings with the SEC. 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.

    Investor Relations Contact
    Michal Efraty
    IR@wearabledevices.co.il

    The MIL Network

  • MIL-OSI: VERB Beats All Analysts Q1 2025 Financial Performance Estimates

    Source: GlobeNewswire (MIL-OSI)

    Management Delivers Impressive 80% Revenue Growth Quarter-Over-Quarter

    Beats All Revenue and EPS Estimates By A Wide Margin

    Q1 2025 Revenue Exceeds Entire 2024 Annual Revenue

    Closed $8.5 Million Acquisition Of AI Social Commerce Technology Platform Lyvecom

    $5 Million Cash Added To Balance Sheet In Non-Dilutive, Non-Convertible, Preferred Stock Deal

    Zero Debt – Strong Cash Position – Expected To Fund Operations Into 2028 And Beyond

    Increased Growth Projected For Q2 2025

    LAS VEGAS, May 13, 2025 (GLOBE NEWSWIRE) — Verb Technology Company, Inc. (Nasdaq: VERB) (“VERB” or the “Company”), Transforming the Landscape of Social Commerce, Social Telehealth and Social Crowdfunding with MARKET.live; VANITYPrescribed; GoodGirlRx; and the GO FUND YOURSELF TV Show, today filed its Form 10-Q reporting financial and operating results for the quarter ending March 31, 2025.

    Q1 Highlights

    For the Quarter Ended March 31, 2025

    • Total Q1 revenue$1.305 million, an increase of $582 thousand, or 80% over Q4 2024; and an increase of $1.298 million, or 18,543%, over the prior year comparable quarter. Represents the greatest amount of revenue generated since the strategic sale of the Company’s direct sales SaaS business unit in June 2023
    • Q1 2025 Revenue Exceeds Entire 2024 Annual Revenue
    • Net loss reduced by $1.0 million, represents an improvement of 29% over the prior year comparable quarter
    • Operating loss reduced by $558 thousand, represents an improvement of 17% over the prior year comparable quarter
    • General and Administrative expenses slight increase of $0.4 million, represents an increase of 12% over prior year; indicates that the Company’s current enhanced financial performance is attributable to increases in revenue – not excessive cost cutting measures
    • ZERO DEBT – All Remaining Debt retired in Q1
    • Closed Acquisition of AI Social Commerce Technology Platform Lyvecom in deal valued at $8.5 Million
    • Opportunistically Added $5 Million in Cash to the Company’s balance sheet through non-dilutive, non-convertible, non-voting, preferred stock deal – replenished all the cash used in Lyvecom acquisition and more
    • Strong Cash Position – expected to fund operations into 2028 and beyond

    Results of Operations

    Three Months Ended March 31, 2025 Compared to Three Months Ended March 31, 2024

    The following is a comparison of the results of our operations for the three months ended March 31, 2025 and 2024 (in thousands):

        Three Months Ended March 31,  
        2025     2024     Change  
                   
    Revenue   $ 1,305     $ 7     $ 1,298  
                         
    Costs and expenses                    
    Cost of revenue, exclusive of depreciation and amortization shown separately below     347       5       342  
    Depreciation and amortization     286       256       30  
    General and administrative     3,331       2,963       368  
    Total costs and expenses     3,964       3,224       740  
                         
    Operating loss from continuing operations     (2,659 )     (3,217 )     558  
                         
    Other income (expense)                    
    Interest income     121             121  
    Unrealized gain on short-term investments     83             83  
    Interest expense     (1 )     (225 )     224  
    Other income (expense), net     18       (3 )     21  
    Total other income (expense), net     221       (228 )     449  
                         
    Net loss   $ (2,438 )   $ (3,445 )   $ 1,007  


    Revenue

    Revenue was $1,305 for the three months ended March 31, 2025, as compared to $7 for the three months ended March 31, 2024. The revenue increase of $1,298, representing an increase of 18,543%, is primarily attributable to revenue received from our MARKET.live business unit services packages and from our Go Fund Yourself business unit which began its operations in July 2024. 

    The table below sets forth our quarterly revenues beginning with the quarter ended September 30, 2023 (the first quarter following the sale of our SaaS business unit) through the quarter ended March 31, 2025, which reflects the trend of revenue over the past seven fiscal quarters:

      Q3
    2023
    Q4
    2023
    Q1
    2024
    Q2
    2024
    Q3
    2024
    Q4
    2024
    Q1
    2025
    MARKET.live $       29 29 7 37 103 490 561
    GO FUND YOURSELF $    –  –  – 25 233 744
    CONSOLIDATED $          29 29 7 37 128 723 1,305

    Operating Expenses

    Depreciation and amortization expenses were $286 for the three months ended March 31, 2025, as compared to $256 for the three months ended March 31, 2024.

    General and administrative expenses including stock compensation expense were $3,331 for the three months ended March 31, 2025, as compared to $2,963 for the three months ended March 31, 2024.

    Other Income (Expense), net

    Other income, net, for the three months ended March 31, 2025 was $221, which was primarily attributable to interest income attributable to our short-term highly liquid investments.

    Three Months Ended March 31, 2025 Compared to Three Months Ended December 31, 2024

    The following is a comparison of the results of our operations for the three months ended March 31, 2025 and December 31, 2024 (in thousands):

         March 31,
    2025
        December 31,
    2024
        Change  
                       
    Revenue   $ 1,305       $ 723       $ 582    
                             
    Costs and expenses                        
    Cost of revenue, exclusive of depreciation and amortization shown separately below     347         134         213    
    Depreciation and amortization     286         279         7    
    General and administrative     3,331         4,020         (689 )  
    Total costs and expenses     3,964         4,433         (469 )  
                             
    Operating loss from continuing operations     (2,659 )       (3,710 )       1,051    
                             
    Other income (expense)                        
    Interest income     121         331         (210 )  
    Unrealized gain (loss) on short-term investments     83         (153 )       236    
    Interest expense     (1 )       (1 )          
    Other income (expense), net     18         164         (146 )  
    Total other income (expense), net     221         341         (120 )  
                             
    Net loss   $ (2,438 )     $ (3,369 )     $ 931    


    Revenue

    Revenue was $1,305 for the quarter ended March 31, 2025, as compared to $723 for the quarter ended December 31, 2024. The revenue increase of $582, representing an increase of 80%, is primarily attributable to growth from our MARKET.live business unit services packages and from tremendous growth in our Go Fund Yourself business unit.  

    Operating Expenses

    Depreciation and amortization expenses were $286 for the three months ended March 31, 2025, as compared to $279 for the three months ended December 31, 2024.

    General and administrative expenses including stock compensation expense were $3,331 for the three months ended March 31, 2025, as compared to $4,020 for the three months ended December 31, 2024.

    Use of Non-GAAP Measures – Modified EBITDA

    In addition to our results under generally accepted accounting principles (“GAAP”), we present Modified EBITDA as a supplemental measure of our performance. However, Modified EBITDA is not a recognized measurement under GAAP and should not be considered as an alternative to net income, income from operations or any other performance measure derived in accordance with GAAP or as an alternative to cash flow from operating activities as a measure of liquidity. We define Modified EBITDA as net income (loss), plus depreciation and amortization, share-based compensation, unrealized (gain) loss on short-term investments, interest expense, financing costs, and other (income) expense, and other non-recurring charges.

    Management considers our core operating performance to be that which our managers can affect in any particular period through their management of the resources that affect our underlying revenue and profit generating operations that period. Non-GAAP adjustments to our results prepared in accordance with GAAP are itemized below. You are encouraged to evaluate these adjustments and the reasons we consider them appropriate for supplemental analysis. In evaluating Modified EBITDA, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in this presentation. Our presentation of Modified EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items.

       
      Three Months Ended March 31,
    (in thousands)   2025       2024  
                   
    Net loss $ (2,438 )   $ (3,445 )
         
    Adjustments    
    Depreciation and amortization   286       256  
    Share-based compensation   958       378  
    Unrealized gain on short-term investments   (83 )      
    Interest expense   1       225  
    Other (income) expense, net   (18 )     3  
    Other costs (a)   256       84  
         
    Total EBITDA adjustments   1,400       946  
    Modified EBITDA $ (1,038 )   $ (2,499 )
                   

    (a) Represents a litigation accrual in 2024. Represents severance costs in addition to acquisition costs incurred for Lyvecom acquisition in 2025.

    We present Modified EBITDA because we believe it assists investors and analysts in comparing our performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. In addition, we use Modified EBITDA in developing our internal budgets, forecasts and strategic plan; in analyzing the effectiveness of our business strategies in evaluating potential acquisitions; and in making compensation decisions and in communications with our board of directors concerning our financial performance. Modified EBITDA has limitations as an analytical tool, which includes, among others, the following:

    • Modified EBITDA does not reflect our cash expenditures, or future requirements, for capital expenditures or contractual commitments;
    • Modified EBITDA does not reflect changes in, or cash requirements for, our working capital needs;
    • Modified EBITDA does not reflect future interest expense, or the cash requirements necessary to service interest or principal payments, on our debts; and
    • Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and Modified EBITDA does not reflect any cash requirements for such replacements.

    Liquidity and Capital Resources

    Overview

    As of March 31, 2025 and 2024, we had the following balances of cash, restricted cash, and highly liquid investments. 

        March 31,
    2025
        December 31,
    2024
     
                 
    Cash   $ 6,275     $ 7,617  
    Restricted Cash     880       878  
    Investments: Government-Backed Securities     3,884       3,731  
    Investments: Corporate Bonds     1,197       1,182  
    Total    $ 12,236     $ 13,408  


    Conference Call Information

    VERB CEO, Rory J. Cutaia will hold a conference call today, May 13, 2025, at 1:00 p.m. Eastern time to discuss the first quarter 2025 results and strategic plans for the remainder of 2025 and beyond. A telephonic replay of the conference call is available from 4:00 p.m. Eastern time today through May 27, 2025.

    VERB Q1 2025 Earnings Call
    Date: Tuesday, May 13, 2025
    Time: 1:00 p.m. Eastern time (10:00 a.m. Pacific time)

    To access by phone: Please call the conference telephone number 10-15 minutes prior to the start time. An operator will register your name and organization.

    Meeting Link: CLICK HERE
    Toll Free: 1-877-407-4018
    Toll/International: 1-201-689-8471
    Telephonic Replay: Available after 5:00 p.m. Eastern time on the same day through May 27, 2025 at 11:59 PM ET

    Toll-free replay number: 1-844-512-2921
    International replay number: 1-412-317-6671
    Replay ID: 13753877

    About VERB
    Verb Technology Company, Inc. (Nasdaq: VERB), is Transforming the Landscape of Social Commerce, Social Telehealth and Social Crowdfunding with MARKET.live; VANITYPrescribed; GoodGirlRx; and the GO FUND YOURSELF TV Show. The Company operates several business units, each of which leverages its social commerce technology and video marketing expertise. MARKET.live, together with recently acquired AI social commerce technology innovator Lyvecom, is a multi-vendor, livestream social shopping platform that allows brands and merchants to deliver a true omnichannel livestream shopping experience across their own websites, apps, and social platforms. Advanced AI capabilities power real-time user-generated-content creation, automated video content repurposing, and AI-powered virtual live shopping hosts that are virtually indistinguishable from human hosts, capable of real-time audience engagement. Brands utilize our proprietary AI model trained on tens of thousands of video commerce interactions to automate content creation and our intelligent tools designed to optimize merchandising strategies and increase conversion rates. GO FUND YOURSELF is a revolutionary interactive social crowd funding platform and TV show for public and private companies seeking broad-based exposure across social media channels for their crowd-funded Regulation CF and Regulation A offerings. The platform combines a ground-breaking interactive TV show with MARKET.live’s back-end capabilities allowing viewers to tap, scan or click on their screen to facilitate an investment, in real time, as they watch companies presenting before the show’s panel of “Titans”. Presenting companies that sell consumer products are able to offer their products directly to viewers during the show in real time through shoppable onscreen icons. VANITYPrescribed.com and GoodGirlRx.com are telehealth portals, intended to redefine telehealth by offering a seamless, digital-first experience that empowers individuals to take control of their healthcare needs. They were designed and developed to disrupt the traditional healthcare model by providing tailored healthcare solutions at affordable, fixed prices – without hidden fees, membership costs, or inflated pharmaceutical markups. GoodGirlRx.com, a partnership with Savannah Chrisley, a well-known lifestyle personality and advocate for health and wellness, offers customers access to convenient, no-hassle telehealth services and pharmaceuticals, including the new weight-loss drugs, with fixed pricing regardless of dosage, breaking away from the industry’s traditional model of excessive pricing and pharmaceutical gatekeeping.

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

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

    Follow VERB and MARKET.live here:
    VERB on Facebook: https://www.facebook.com/VerbTechCo
    VERB on Twitter: https://twitter.com/VerbTech_Co
    VERB on LinkedIn: https://www.linkedin.com/company/verb-tech
    VERB on YouTube: https://www.youtube.com/channel/UC0eCb_fwQlwEG3ywHDJ4_KQ

    Sign up for E-mail Alerts here: https://ir.verb.tech/news-events/email-alerts

    FORWARD-LOOKING STATEMENTS
    This communication contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties and include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance, or achievements. 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, those identified in our filings with the Securities and Exchange Commission (the “SEC”), including our annual, quarterly and current reports filed with the SEC and the risk factors included in our annual report on Form 10-K filed with the SEC today. Any forward-looking statement made by us herein 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 as a result of new information, future developments or otherwise.

    Investor Relations Contact: investors@verb.tech

    Media Contact: info@verb.tech

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2dafa316-c785-42b3-9d3c-7e43a0b4ce58

    The MIL Network

  • MIL-OSI Economics: US tariffs could accelerate supply chain diversification in medtech sector, says GlobalData

    Source: GlobalData

    US tariffs could accelerate supply chain diversification in medtech sector, says GlobalData

    Posted in Medical Devices

    The US Trade Representative’s (USTR) plan to reinstate Section 301 tariffs targets Class I and II medical devices, including orthopedic instruments frequently sourced from China. The move is expected to lead to a rise in cost pressures and supply chain risks in the medtech sector. As such, tariff pressures could accelerate supply chain diversification and regional manufacturing in the sector, according to GlobalData, a leading data and analytics company.

    The tariffs, part of a revived Trump-era trade strategy, aim to counter China’s economic influence and encourage domestic manufacturing. However, medtech leaders warn the move could raise healthcare costs and limit patient access to essential technologies.

    Zimmer Biomet has recently announced that proposed US tariffs on medical devices imported from China could reduce its 2025 profits by $60 million to $80 million. Zimmer Biomet’s update reflects the broader implications of geopolitical trade shifts on global healthcare. The global musculoskeletal healthcare company is evaluating mitigation strategies such as supplier diversification, logistics optimization, and potential reshoring.

    Graysen Vigneux, Medical Analyst at GlobalData, commented: “The impact of these tariffs is significant for globally integrated firms like Zimmer Biomet. While intended to boost US production, the immediate effect may be higher costs that ripple through to providers and patients.”

    Many of Zimmer Biomet’s orthopedic instruments, typically low-margin, high-volume products, fall under the tariff scope and cannot be easily transitioned to US manufacturing without major investment and regulatory delay.

    Vigneux concludes: “The US medtech industry, already facing inflation, labor shortages, and stricter regulation, now confronts added financial and strategic uncertainty. Companies must remain agile to navigate shifting trade policy without compromising access or quality.”

    MIL OSI Economics

  • MIL-OSI Global: Researchers uncovered hundreds of genes linked to OCD, providing clues about how it changes the brain − new research

    Source: The Conversation – USA – By Carol Mathews, Professor of Psychiatry, University of Florida

    No single gene causes OCD, but identifying the genetic markers linked to the condition can help clarify how it develops. Viktoria Ruban/iStock via Getty Images Plus

    Obsessive compulsive disorder has many unknowns, including what causes it, why symptoms can differ so much between people, how medication and therapy for it actually work, and why treatment is effective for some people and not for others. In our newly published research, my colleagues and I made a step toward unraveling some of these mysteries by shedding light on the genetics of OCD.

    Obsessive compulsive disorder is one of the most impairing illnesses worldwide. Affecting about 1 in 50 people globally, OCD is among the top 10 causes of years lost to disability, leading to harmful effects on a person’s ability to work and function in the world and on their family.

    Compared with people without OCD, a person with the condition has a 30% higher chance of dying prematurely from natural causes, such as infections or other illnesses, and a 300% higher chance of dying early from nonnatural causes, such as accidents or suicide.

    People with OCD experience obsessions – disturbing, recurrent and unwanted thoughts, fears or mental images – and compulsions, such as repetitive behaviors and rituals performed to ease the anxiety usually caused by obsessions. For example, someone might wash their hands dozens of times or in a specific way to get rid of germs, even if they know it’s excessive or illogical. Avoiding certain places or situations to reduce anxiety or prevent triggering obsessions and compulsions is also common.

    People with OCD have compulsions that interfere with their daily lives to a debilitating degree.
    Jena Ardell/Moment via Getty Images

    While the exact causes of OCD are unclear, researchers know that both genetic and environmental factors play a role in its development. OCD can run in families; studies attribute between 40% to 65% of OCD cases to genetic factors. OCD that begins in childhood has a stronger genetic influence than OCD that begins in adulthood.

    But unlike some genetic diseases caused by a single faulty gene, such as cystic fibrosis or Huntington’s disease, OCD is influenced by hundreds to thousands of genes that each play a small part in disease risk.

    My colleagues and I analyzed the DNA of over 53,000 people with OCD and over 2 million people without OCD, the largest study of this kind for this condition. We discovered hundreds of genetic markers potentially linked to OCD – data we hope will ultimately lead to improved ways of identifying people who are at risk for OCD and, down the line, to better treatments.

    How scientists study OCD genetics

    To find the genes involved in OCD risk, researchers use a method called a genome-wide association study, or GWAS. These studies compare the DNA of tens to hundreds of thousands of people with a disease of interest with the DNA of people without the disease, looking for tiny differences in the genetic material. These genetic markers may be linked to OCD or indicate the presence of other genes linked to the disease.

    In a GWAS, scientists carefully test each of the millions of genetic markers across the genome to identify those found more often in people with OCD than in people without OCD. They then determine which genes those markers are associated with, where in the body they are active and how they might contribute to the condition.

    GWAS studies look for genetic associations between different traits.

    We identified 30 areas in the genome linked to OCD, containing 249 genes of interest in total. Of those, 25 genes stood out as likely contributors to the development of OCD.

    The top three genes we found are also linked to other brain disorders such as depression, epilepsy and schizophrenia. Several other genes of interest for OCD were found in a region of the genome that plays a role in adaptive immunity and has been associated with other psychiatric disorders.

    Importantly, no single gene can predict or cause OCD on its own. Previous genetic studies have demonstrated that genes across all of the 23 pairs of chromosomes in people may contribute to OCD risk.

    Genetic insights into OCD

    Because the contribution of each genetic marker or gene to disease susceptibility is very small, GWAS are not useful for identifying genes that cause OCD for a given person. Rather, this kind of research helps scientists understand how the brain works in people with OCD and whether OCD shares genetic roots with conditions that commonly occur alongside it.

    For example, the genetic markers we found to be associated with OCD were highly active in several brain regions known to play a role in development of the condition. These brain areas are collectively involved in planning, decision-making, motivation, error detection, emotion regulation, and fear and anxiety, all of which can malfunction in OCD.

    We also found associations with a brain region called the hypothalamus, which converts emotions such as fear, anger, anxiety or excitement into physical responses. The hypothalamus has not been directly linked to OCD before, but it is part of a network of brain regions that may contribute to its symptoms.

    Additionally, we found that certain types of brain cells – particularly medium spiny neurons in a brain region called the striatum – were strongly linked to the OCD genes we identified. Medium spiny neurons play an important role in habit formation, the process by which a behavior becomes automatic and habitual – think compulsions. Specific receptors on medium spiny neurons are common targets for medications that are sometimes used to help treat OCD.

    Many people with OCD also suffer from anxiety.
    triocean/iStock via Getty Images Plus

    The results of our study can help researchers better understand the relationships between OCD and other conditions. We found genetic links between OCD and several other psychiatric disorders, especially anxiety, depression, anorexia and Tourette syndrome. People with OCD also showed lower genetic risk for conditions such as alcohol dependence and risk-taking behavior, aligning with what doctors see in clinics: Many people with OCD tend to be cautious and avoid risks.

    Surprisingly, we also found genetic overlaps between OCD immune-related conditions. While having OCD appears to be linked to an increased risk of asthma and migraines, it may also be linked to a reduced risk of inflammatory bowel disease. These findings may lead to new insights about the role the immune system and inflammation play in brain health.

    More effective OCD treatment

    OCD is a complex disorder that can look very different from person to person. Understanding the genetic and biological factors behind OCD helps researchers move closer to better diagnosis, treatment and possibly even prevention.

    As a practicing psychiatrist and researcher, I have spent my career working to understand the causes of OCD and to improve the lives of those who live with the condition. With larger studies and continued research, my team and I hope to better match specific biological patterns to individual symptoms.

    In time, this could lead to more personalized and effective treatments – improving the lives of millions of people living with OCD around the world.

    Carol Mathews receives funding from the National Institutes of Health. She is a member of the scientific advisory boards for the Family Foundation for OCD Research and the International OCD Foundation, and acts as a consultant for the Office of Mental Health for the State of New York.

    ref. Researchers uncovered hundreds of genes linked to OCD, providing clues about how it changes the brain − new research – https://theconversation.com/researchers-uncovered-hundreds-of-genes-linked-to-ocd-providing-clues-about-how-it-changes-the-brain-new-research-255572

    MIL OSI – Global Reports

  • MIL-OSI Russia: Since the beginning of this year, Chinese-Russian border trade in Manzhouli has brought in 1 million yuan in revenue for local residents.

    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 13 (Xinhua) — Since the beginning of this year, Chinese-Russian border trade in the city of Manzhouli has brought in 1 million yuan in revenue for local residents, the city’s people’s government said on Thursday.

    Manzhouli City, Inner Mongolia Autonomous Region, is located on the border with Russia’s Zabaikalsky Krai. It has a road and railway checkpoint. The local China-Russia Mutual Trade Zone is an important platform for expanding the city’s openness to the outside world. The trading platform in the zone was put into operation in 2016.

    According to current regulations, the value of tax-free goods purchased in the designated area must not exceed 8,000 yuan per person per day. In addition to meeting their own needs, local residents can also resell these goods on the domestic market.

    Local residents are reportedly actively expanding channels for importing goods from Russia and reselling them in China. The most popular Russian goods are consumer goods, handicrafts and agricultural products, including chumiza, flax seeds, sunflower seeds, etc. -0-

    MIL OSI Russia News

  • MIL-OSI Russia: Denmark: Staff Concluding Statement of the 2025 Article IV Mission

    Source: IMF – News in Russian

    May 13, 2025

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

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

    Copenhagen, Denmark:

    Denmark’s strong growth has continued, primarily driven by pharmaceutical exports, while domestic demand has remained relatively sluggish. Staff expects output growth to moderate in the near term as external demand weakens. Direct impacts from U.S. tariffs are expected to be limited, but heightened trade tensions and trade policy uncertainty pose risks to the outlook. Denmark’s robust institutions, competitive and relatively diversified economic structure, strong fiscal position, and highly educated workforce all reinforce its resilience to external shocks. In this context, the policy priorities are as follows.

    • Uphold fiscal sustainability amid rising defense and aging-related expenditures.
    • Ensure financial stability by vigilantly monitoring risks, maintaining a prudent capital-based macroprudential policy setting, and tightening borrower-based measures.
    • Further intensify structural reforms to support high levels of income and sustain the welfare state.

    Economic outlook and risks

    1. Staff anticipates a gradual moderation in GDP growth. Output growth is projected to decline from 3.7 percent in 2024 to 2.9 percent in 2025 and further to 1.8 percent in 2026. Export growth, including pharmaceutical exports, is expected to slow, while the full reopening of the Tyra natural gas and oil field will provide a temporary uplift. The U.S. is a key trading partner; however, exports produced in Denmark passing through customs account for only 3 percent of total exports, limiting the direct impact of U.S. tariffs on the Danish economy. Domestic demand is expected to gradually strengthen, driven by increased public expenditures and a modest recovery in private consumption due to improved consumer purchasing power. Beyond 2026, medium-term growth is projected at around 1.5 percent, reflecting a maturing pharmaceutical sector and a declining working-age population. Labor market pressures have eased, with inflation anticipated to stay around 2 percent.
    2. Risks to growth are on the downside. External risks dominate the outlook. A reversal of globalization, including higher trade barriers and deepening geoeconomic fragmentation, would put the Danish economy at risk. Global uncertainty, including the intensification of regional conflicts, would dampen consumer and business confidence, weighing on domestic demand. Upside risks to growth include a faster-than-expected resolution of trade and geopolitical tensions, as well as stronger pharmaceutical exports.

    Maintaining fiscal sustainability amid rising defense and aging-related spending

    1. The fiscal surplus is expected to decline significantly. In February, the authorities announced a temporary rise in defense spending from 2¼ percent of GDP in 2024 to 3¼ percent in 2025 and 2026, returning to 2¼ percent by 2033. This increase adds to already planned personal income tax cuts and increased expenditures related to health, long-term care, and climate. As a result, staff projects the overall surplus to fall from 4½ percent of GDP in 2024 to 1¼ percent in 2025 and further to ½ percent of GDP in 2026. Although labor market pressures have eased, and fiscal multipliers for the planned measures are likely to be low, the resulting fiscal stimulus could be stronger than warranted by macroeconomic circumstances. Given these risks, the authorities should continue to exercise robust spending controls and save any revenue above budget forecasts for the remainder of 2025.
    2. Given Denmark’s robust fiscal position, the announced temporary increase in defense spending is manageable from a public finance sustainability perspective. Denmark has long anticipated rising spending pressures from an aging population and has successfully reduced its debt-to-GDP ratio to below 30 percent, down from nearly 50 percent a decade ago. Furthermore, a significantly higher-than-expected fiscal surplus in 2024 provides additional room to accommodate the increased defense spending. In the staff’s baseline scenario, the structural balance is expected to remain above the -1 percent of GDP floor over the medium term, consistent with Denmark’s fiscal rules and a stable debt-to-GDP ratio.
    3. However, significantly higher and more persistent increases in defense spending would require adjustment measures to ensure long-term fiscal sustainability. These adjustment measures should be growth-friendly while ensuring fairness to preserve the welfare state. Specifically:
    • While both expenditure and revenue measures should be explored, given the already high tax burden, priority should be given to spending measures. To this end, an in-depth assessment of expenditures should be conducted to identify low-priority or inefficient spending, as well as the opportunity to enhance public administration efficiency by leveraging digitalization and AI.
    • Structural reform programs should be vigorously pursued to boost labor supply and enhance productivity. In this context, further raising the retirement age in line with improved life expectancy is vital to ensure fiscal sustainability.
    • The structural balance floor of -1 percent of GDP under current national fiscal rules should be respected.

    Safeguarding financial stability

    1. Although systemic risks have been contained, heightened global risks warrant continued vigilance in monitoring financial sector risks. Banks are well-capitalized, with strong profitability, asset quality, and liquidity. To further strengthen the resilience of the financial system, the authorities should (i) ensure that banks maintain robust provisioning practices for credit risks, including a thorough examination of International Financial Reporting Standards (IFRS) 9 modeling practices; (ii) complete the ongoing review of internal ratings-based models promptly, followed by supervisory actions based on the results, and implement the EU’s CRR III/CRD VI as planned; (iii) continue efforts to enhance resilience against cyberattacks; and (iv) ensure that the Financial Supervisory Authority is adequately staffed across a full range of skills and experiences to deliver its mandates.
    2. Capital-based macroprudential policy is broadly appropriate, but borrower-based measures should be tightened to address pockets of vulnerabilities. Given heightened global risks and the fragile commercial real estate (CRE) sector, the 2.5 percent countercyclical capital buffer (CCyB) and the 7 percent sector-specific systemic risk buffer, introduced in June 2024 to mitigate risks in the CRE sector, should remain in place for now. To address pockets of vulnerabilities in mortgages, the authorities should consider lowering the maximum loan-to-value ratio below the current 95 percent. In addition, incentives for bigger mortgages should be reduced by lowering the tax deductibility of mortgage interest expenses.
    3. The risks posed by non-bank financial institutions (NBFIs) should be closely monitored and assessed. The authorities have increased their focus on the NBFI sector in financial stability assessments. Given the considerable size and extensive interconnectedness of NBFIs within the financial system, as well as their susceptibility to market vulnerabilities, the authorities should continue strengthening the oversight framework for NBFIs. Key priorities include: (i) finalizing the supervisory order on the stress-testing framework for insurance and pension firms; (ii) developing a framework for systemic risk assessment that covers both banks and NBFIs; and (iii) ensuring that insurance and pension companies provide clear advice to clients about financial and longevity risks when selling non-guaranteed products.
    4. Addressing outstanding recommendations in the 2020 Financial Stability Assessment Program would further strengthen financial sector oversight and crisis management. The authorities have made significant strides in implementing numerous recommendations, especially in bank and insurance supervision and systemic liquidity. Important outstanding recommendations relate to systemic risk oversight and the governance of the resolution authorities.

    Pursuing structural reforms

    1. Structural reforms should be further intensified to sustain high levels of income, preserve fiscal space, and sustain the welfare state. Over the past several decades, Denmark has benefited significantly from globalization, including reduced trade barriers and expanded global value chains. However, these conditions may shift due to rising geopolitical and trade tensions. An aging population would also weigh on potential growth. All these concerns underscore the pressing need for Denmark to reinforce structural reform efforts. Specifically,
    • Strengthening policies to support entrepreneurship while harnessing the benefits of digitalization and Artificial Intelligence (AI). Staff welcomes the progress made in implementing a new entrepreneurship strategy launched in June 2024 to support start-ups and scale-ups. Denmark excels in digitalization and is well-positioned to leverage the benefits of AI. In this regard, the authorities should continue reviewing the legal and technical barriers to AI adoption while ensuring sound ethical principles. While Denmark’s flexicurity model is well-suited to facilitate possible labor reallocation across sectors, the implications of digital technologies on labor markets, including job displacement, should be closely monitored.
    • Continuing efforts to ensure a sufficient labor supply with the right skills, such as IT, health, and long-term care professionals. The authorities’ ongoing focus on labor market reforms is appropriate, including recent initiatives to (i) reform education curricula to equip students with digitalization skills; (ii) enhance vocational education and training; and (iii) make the active labor market policy framework more cost-effective while maintaining the strengths of the Danish flexicurity model. Other policy priorities include: (i) aligning the foreign worker recruitment schemes, especially the salary requirement limit and the positive list, with labor market needs; and (ii) ensuring the effectiveness of integration programs to help foreign workers and families successfully integrate into Danish society.
    1. A deeper EU single market could boost Denmark’s business dynamism and potential growth. The EU single market, Denmark’s most important trade area, is fragmented. Deepening EU integration will enhance the benefits of economies of scale and network effects, thus expanding the market for Danish businesses. Simultaneously, the authorities should make efforts to reduce domestic regulatory burdens on businesses (e.g., reporting requirements) while balancing the costs and benefits of these regulations. Denmark’s commitment to supporting multilateral and transparent trade policies that promote mutually beneficial cooperation in global trade, knowledge, and investment flows is commendable.
    2. Strengthening climate adaptation will support sustainable growth. Due to its coastal location and flat topography, Denmark is particularly vulnerable to sea level rise, storm surges, and coastal erosion, necessitating a well-designed long-term adaptation plan. The government is developing National Climate Adaptation Plan II, which focuses on enhanced coastal and groundwater protection, urban flood management, and the assessment of infrastructure needs, including financing responsibilities among central and local governments and the private sector. Simultaneously, the authorities are encouraged to reform the property insurance scheme (“Storm Surge Scheme”) to make insurance premiums risk-based.

    The mission thanks the authorities and private sector counterparts for their accommodative flexibility, warm hospitality, and candid and high-quality discussions. The IMF team is especially grateful to the Danmarks Nationalbank for its assistance with meeting and logistical arrangements.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Boris Balabanov

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

    https://www.imf.org/en/News/Articles/2025/05/12/mcs-denmark-staff-concluding-statement-of-the-2025-article-iv-mission

    MIL OSI

    MIL OSI Russia News

  • MIL-OSI USA: What They’re Saying: Investing in NYC Transportation

    Source: US State of New York

    overnor Kathy Hochul recently signed new legislation as part of the FY26 Enacted Budget to make transformative investments in transportation infrastructure. In keeping with her record of leading on pro-transit investments, the FY26 Enacted Budget includes historic investments in New York City’s public transportation system with the biggest capital investment in New York’s transportation history by fully funding the Metropolitan Transportation Authority’s (MTA) $68.4 billion 2025-29 Capital Plan.

    State Senator Jeremy Cooney said, “Millions of New Yorkers rely on the MTA every day, both passengers downstate and manufacturers upstate who rely on MTA contracts to support their employees. This budget is forward thinking about the future needs of the MTA and I’m grateful for Governor Hochul’s leadership in making these investments possible to create the kind of modern system New Yorkers deserve.”

    State Senator Brad Hoylman-Sigal said, “A functioning public transit system is essential to a functioning New York City and State. I applaud Governor Hochul, Majority Leader Stewart-Cousins, and Speaker Heastie for working together to fully fund the MTA’s $68.4 billion Capital Plan. Under this agreement we will be able to make more subway stations accessible, including many stations in my district, modernize the signal system to reduce wait times, and purchase more electric buses. These changes will make a tremendous difference to the millions of people across the tristate area who use our public transit system every single day.”

    State Senator Andrew Gounardes said, “It’s never been more important to invest in our transit system. With so much uncertainty in Washington, New Yorkers are looking to us to offer the safe, reliable, accessible service that they need and deserve. That means new trains, upgraded signals, and long-overdue investments in station elevators and other improvements. This is a long-term investment in the future of our city, our economy and our communities, and I’m glad to work with Governor Hochul and my colleagues in the legislature to deliver it.”

    State Senator Robert Jackson said, “Our subways and buses are not luxuries—they are lifelines. Fully funding the MTA’s Capital Plan is more than an investment in concrete and steel; it’s a commitment to working people, to mobility, to equity. For the essential workers who kept this city alive, for the students racing to class, for the elders who deserve dignity in every ride—this is what putting people first looks like. This robust investment will help the MTA deliver on that promise: expanding ADA accessibility at subway stations across the district I serve, upgrading to clean electric bus fleets, and strengthening the rails and roads that keep my constituents moving. I’m proud to support a plan that moves New Yorkers forward—not just in transit, but in justice.”

    State Senator Cordell Cleare said, “We are hoping that this funding will extend to much needed projects like the Second Avenue Subway expansion, and other long-requested and necessary MTA accessibility upgrades and transportation alternatives, plus efforts to comply with the Americans with Disabilities Act (ADA), and pressing forward with modernizing the subway system and improving overall air quality. My constituents in the 30th District are awaiting the implementation of these improvements.”

    State Senator Kristen Gonzalez said, “I’m proud to have advocated for the full funding of the $68 billion MTA Capital Plan. This pro-transit investment will result in infrastructure improvements that will benefit my constituents, including Midtown tunnel upgrades and Communications-Based Train Control (CBTC) modernization. I’m grateful to advocates, Majority Leader Stewart-Cousins, and Governor Hochul for this funding to move our city and state forward.”

    Assemblymember Deborah J. Glick said, “The MTA is vital not only to New York City residents who depend on it for their daily commute, but for the entire metro area. Many New Yorkers rely on the MTA to enter the city to work, dine, and recreate. Fully funding the MTA capital plan will provide the resources that are needed to expand and modernize services, while increasing the environmental benefits gained by supporting a reliable public transit system. I thank Governor Hochul for her work in securing this critical funding.”

    Assemblymember Rodneyse Bichotte-Hermelyn said, “Public transportation is critical for many of my constituents, and for the millions of New Yorkers (and beyond) who rely on MTA’s infrastructure to keep moving forward. I applaud Governor Hochul and my colleagues for passing this legislation to make critical, record-high investments to improve transit for all New Yorkers, with a fully-funded 2025-29 Capital Plan. These prudent policies and transformative investments will ensure New York City’s largest public transportation system is continually improving, modernizing, and making our commutes better – all while creating good-paying jobs.”

    Assemblymember Yudelka Tapia said, “This historic investment in our transit infrastructure is a game changer for the Bronx. Fully funding the MTA’s Capital Plan means safer and more reliable service for our residents who rely on public transportation every day. I’m proud to support a budget that delivers the resources our communities need.”

    Assemblymember Brian Cunningham said, “A fully funded MTA Capital Plan is an important step toward delivering the transit improvements our communities deserve. For residents in my district, systemwide investments in accessibility and upgraded infrastructure will mean more dependable service and stronger connections to opportunity. The Interborough Express will bring new, much-needed transit options to Brooklyn residents who have long lacked efficient cross-borough service. This plan lays the groundwork for meaningful improvements in my district of Crown Heights, Prospect Lefferts Gardens, Flatbush, as well as across New York City’s transit system.”

    Assemblymember Tony Simone said, “The 2025-2029 MTA Capital Plan is essential for both riders and our local economy. This historic investment by Governor Hochul and the Legislature will address the significant infrastructure issues our aging system faces, enabling it to make large strides towards becoming a truly 21st century system worthy of our great city.”

    Assemblymember George Alvarez said, “I want to thank Governor Hochul for her strong support for, and meaningful investment in, New York City’s public transit system. The Governor clearly understands that improvements in transit translate to more opportunity, a better quality-of-life, and a stronger economy for all New Yorkers.”

    New York City Comptroller Brad Lander said, “For decades, Albany underfunded the MTA and neglected the needs of our transit system, creating a multibillion-dollar backlog of deferred maintenance that led to several preventable system failures — most notably, the infamous ‘Summer of Hell’ in 2017. By fully funding the 2025-2029 Capital Plan, the FY2026 Budget brings much-needed stability to the MTA’s finances and will deliver billions in subway accessibility, safety, and state-of-good repair improvements. Thanks to the efforts of Governor Hochul and the Legislature, a more accessible, reliable, and safer transit system is finally within reach.”

    Manhattan Borough President Mark Levine said, “There is no New York City without mass transit, so I am thrilled that this year’s state budget will fully fund the MTA’s 2025-29 Capital Plan. This plan will improve service, safety, and reliability for the millions of New Yorkers who take transit every day, with investments like making at least 60 stations fully accessible, modernizing signals to speed up service, replacing 40+ year old subway cars, and more. I commend the Governor, legislature, and MTA for getting this done.”

    New York City Council Deputy Speaker Diana Ayala said, “I commend Governor Hochul for her leadership and commitment to strengthening public transit infrastructure across New York City. The full funding of the MTA’s $68.4 billion Capital Plan marks a historic investment that will directly benefit the people of East Harlem and the South Bronx—communities that rely heavily on our transit system every single day. This funding will improve service, accessibility, and safety, helping to close long-standing transit equity gaps and ensuring that our constituents can commute, work, and live with the reliability and dignity they deserve.”

    Council Member Gale Brewer said, “This investment in the MTA is a huge win for New Yorkers who rely on public transit every day. Fully funding the Capital Plan means safer, more reliable service, and long-overdue upgrades that will benefit every borough. I thank Governor Hochul for her leadership and continued commitment to a more equitable, accessible, and resilient transportation system.”

    Permanent Citizens Advisory Committee to the MTA Executive Director Lisa Daglian said, “The region’s riders have a lot to be thankful for in the state budget. Governor Hochul, Senate Majority Leader Stewart-Cousins and Assembly Speaker Heastie clearly understand the importance of the MTA to the millions of New Yorkers who use transit everyday, to our economy, and to employers across New York State. We are grateful for their steadfast support. Fully funding the 2025-29 MTA Capital Plan ensures the $1.5 trillion asset that keeps our region moving is kept in a state of good repair and brought into the 21st century – especially important in light of unwarranted threats to transportation programs from the federal government. Funding critical safety programs and support services will help riders feel and be safe underground — progressing what we have already begun to see. We look forward to continuing to work with Governor Hochul and the Legislature to advance more equitable access to affordable transit, especially for the New Yorkers who need it most.”

    Transportation Alternatives Executive Director Ben Furnas said, “A fully-funded MTA Capital Plan is existential for the future of our city. Congratulations to Governor Hochul and the legislature for their leadership. New York as we know it is only possible with mass transit. Our bridges and subways need to be brought into a state of good repair, and we need to be able to expand bus and train service in order to grow as a city without adding more cars to the road.”

    Brooklyn Center for Independence of the Disabled Executive Director Joe Rappaport said, “A fully funded 2025-2029 capital budget means the MTA will meet its legal requirement to add elevators at dozens of stations across the city. It will get the MTA closer to meeting its ultimate goal of making virtually all subway stations accessible, as it agreed to do as part of a 2022 settlement with disability advocates, including BCID. It’ll also pay for other improvements that all riders need, whether or not they have a disability. We applaud Gov. Hochul’s and the legislature’s vision in passing this vitally needed funding.”

    Regional Plan Association President and CEO Tom Wright said, “As RPA’s recent research has shown, the 2025-2029 MTA Capital Plan will enable the region’s 2.1 million riders who live in the MTA service area and regularly take transit to work to earn $187 billion in wages, powering the economy of the New York region. Thanks to the determination and dedication of Governor Hochul and the New York State Legislature, all the region’s riders will be able to rely on the vital infrastructure investments secured in this year’s New York State budget that will make taking transit more reliable, comfortable, safe, and accessible.”

    Riders Alliance Executive Director Betsy Plum said, “Public transit riders organized and Governor Hochul and the legislature heard us loud and clear. This budget builds on New York’s successful congestion relief program to keep fixing the subway that millions of us depend on every day. We’re grateful to the governor for her leadership in funding and maintaining a safe, affordable, reliable, accessible public transit system for all New Yorkers.”

    General Contractors Association of New York Executive Director Robert G. Wessels said, “We have worked hard in Albany, Washington, and right here in New York City to support funding for many MTA Capital Programs since its first five year plan in 1982, yet this one is particularly satisfying given its extraordinary level of investment. We commend the Governor for her efforts in getting this done, and our over 250 members and 25,000 skilled trades workers look forward to continuing to help New York rebuild and expand the nation’s premier transportation system.”

    New York Building Congress President and CEO Carlo Scissura said, “We are thrilled to see our partners in state government heed our industry’s call to ensure the MTA gets the funding it needs for the world class transit future New Yorkers deserve. Fully funding the MTA’s 2025–2029 Capital Program in the State Budget will generate over $106 billion in economic activity and support nearly 73,000 good-paying jobs across New York State, while delivering much-needed improvements to our transit infrastructure. The Capital Plan is essential to the continued growth of the region and is one of our strongest economic drivers. Building Congress members are ready to roll up their sleeves and get to work building a transportation network we can continue to be proud of. We thank Governor Hochul, Speaker Heastie, Majority Leader Stewart-Cousins, and the entire legislature for their leadership and commitment to New York’s future.”

    Felice Farber Executive Director Subcontractors Trade Association said, “We applaud Governor Hochul, Speaker Heastie, Majority Leader Stewart Cousins and the state legislature for their leadership in passing a budget that fully funds the MTA capital program. This critical investment not only ensures a safer, more reliable, and modernized transit system for millions of New Yorkers, but also fuels job growth and economic opportunity across the state. For subcontractors and small businesses, full funding means expanded access to projects, more predictable work pipelines, and a stronger foundation for long-term growth and innovation in the transportation infrastructure sector.”

    American Institute of Architects New York Chapter Executive Director Jesse Lazar said, “AIANY applauds Governor Hochul, Majority Leader Stewart-Cousins, Speaker Heastie, and the Members of the New York State Legislature for their demonstrated commitment to our public transportation system. This investment in the 2025-2029 Capital Plan will have critical impacts on the resiliency of our transit system with signal modernization and new rail cars as well as valuable expansion projects such as the Interborough Express. The design community is eager to continue its work with the MTA to ensure our region’s infrastructure is well-maintained and quality is prioritized.”

    Real Estate Board of New York President Jim Whelan said, “A world class transit infrastructure network is essential for attracting and retaining residents and businesses, and will help encourage investment for new real estate developments. REBNY commends the Governor and State Legislature for outlining a sustainable funding plan for the MTA as part of the budget.”

    Associated General Contractors of New York State President and CEO Mike Elmendorf said, “The fact that the enacted state budget fully funds the MTA Capital Program is welcome news for New York’s commuters and economy. This, coupled with the budget’s inclusion of increased funding for core NYSDOT capital needs and for local roads and bridges—highlights just how critical infrastructure is to our communities and economy. We commend Governor Hochul and the Legislature for recognizing this reality and for their forward-looking action.”

    American Council of Engineering Companies of New York President and CEO John T. Evers said, “New York’s economic future depends on the efficiency and effectiveness of our transportation systems, and that’s why we would like to applaud the steadfast leadership of Governor Kathy Hochul and our legislative leaders for their diligent work to significantly increase in the budget of $800 million for the state Department of Transportation’s Capital Plan and adopt the five-year MTA Capital Plan. This funding will enable necessary upgrades to our aging network of roads, bridges and tunnels statewide, ensuring millions of New Yorkers can move forward in a safer and more sustainable manner. Improving our infrastructure means improving our quality of life, and as leaders in design and engineering, our members commend our government partners for securing the funds to better protect generations to come.”

    MIL OSI USA News

  • MIL-OSI: Golar LNG Limited Q1 2025 results presentation – Date change

    Source: GlobeNewswire (MIL-OSI)

    Due to a newly scheduled official State visit to the GTA Hub in Mauritania and Senegal, which will be attended by senior management, Golar’s Q1 2025 results will be released before the NASDAQ opens on Tuesday, May 27, 2025. In connection with this the webcast presentation will be held at 1:00 P.M (London Time) on Tuesday May 27, 2025. The presentation will be available to download from the Investor Relations section at www.golarlng.com

    We recommend that participants join the conference call via the listen-only live webcast link provided. Sell-side analysts interested in raising a question during the Q&A session that will immediately follow the presentation should access the event via the conference call by clicking on this link. We recommend connecting 10 minutes prior to the call start. Information on how to ask questions will be given at the beginning of the Q&A session. There will be a limit of two questions per participant.

    a. Listen-only live webcast link
    Go to the Investors, Results Centre section at www.golarlng.com and click on the link to “Webcast”. To listen to the conference call from the web, you need to have a sound card on your computer, but no special plug ins are required to access the webcast. There is a “Help” link available on the webcast pages for anyone who may have issues accessing.

    b. Teleconference

    Conference call participants should register to obtain their dial in and passcode details. This process eliminates wait times when joining the call.

    When you log in, you can either dial in using the provided numbers and your unique PIN, or select the “Call me” option and type in your phone number to be instantly connected to the call. Use the following link to register.

    Please download the presentation material from www.golarlng.com (Investors, Results Centre) to view it while listening to the conference.

    If you are not able to listen at the time of the call, you can assess a replay of the event audio for a limited time on www.golarlng.com (Investors, Results Centre).

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

    The MIL Network

  • MIL-OSI Russia: Chinese company Mixue Bingcheng plans to increase imports from Brazil

    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

    ZHENGZHOU, May 13 (Xinhua) — Chinese beverage company Mixue Bingcheng plans to open its first single-origin coffee shop in Brazil this year and increase imports of agricultural products from the country, the company said Monday.

    According to a memorandum of understanding signed between the company and the Brazilian Trade and Investment Promotion Agency, the company will expand imports of coffee beans, fruit products and other agricultural products from Brazil.

    Mixue Bingcheng plans to purchase agricultural products from Brazil worth at least 4 billion yuan (about $550 million) over the next three to five years, said Tian Zezhong, head of the Chinese company’s Brazilian branch.

    In addition, Mixue Bingcheng plans to open a plant in Brazil, which will provide 25,000 jobs for local residents.

    Mixue Bingcheng was founded in 1997 and has 46,479 stores worldwide as of the end of 2024. The company’s entry into the Brazilian market is driven by growing demand for high-quality coffee beans and is an example of the growing and diversifying trade partnership between China and Brazil.

    China has been Brazil’s largest trading partner for many years. At the same time, Brazil is China’s number one trading partner in Latin America. Bilateral trade exceeded $180 billion in 2024.

    “Mixue Bingcheng reflects the growing trend of Chinese beverage companies going global. Through supply and distribution around the world, these brands offer consumers affordable premium beverages,” said Chen Zhenjie, deputy head of the China Food Industry Association. -0-

    MIL OSI Russia News

  • MIL-OSI: Abaxx to Launch Singapore Gold Kilobar Futures and Physically-Allocated Gold Pool on June 12, 2025

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 13, 2025 (GLOBE NEWSWIRE) — Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, indirect majority shareholder of Abaxx Singapore Pte Ltd. (“Abaxx Singapore”), the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), and producer of the SmarterMarkets™ Podcast, today announced that it will be expanding its product suite to include precious metals with the launch of Gold kilobar futures on June 12, 2025.

    Abaxx Singapore Gold Futures are purpose-built for the needs of Asia’s physical bullion trade, reflecting the region’s preferred kilobar format and supporting more accurate pricing by aligning futures settlement with physical market practices. The contract is designed to provide a globally accessible, regionally anchored benchmark that supports effective price discovery, reliable hedging, and physical delivery in one of the world’s leading gold trading hubs. Abaxx’s Gold Singapore Futures contract is a US dollar-denominated, kilobar-sized, physically-deliverable product, with delivery into approved vaults in Singapore.

    “Gold is one of the few assets trusted across all borders, yet its market infrastructure hasn’t kept pace with how and where it’s traded,” said Abaxx Founder, Josh Crumb. “By aligning physically-deliverable futures with the kilobar format and delivery location preferred by Asia’s bullion market, we’re eliminating structural mismatches that have long distorted pricing and impeded risk management. This contract reflects the way gold actually moves through the global system, and delivers the tools needed to hedge and settle accordingly.”

    Introducing Abaxx Spot

    Abaxx is also preparing to launch Abaxx Spot¹, a new physically-allocated (through the undivided interest structure) gold trading platform in Singapore. The platform is designed to align spot and futures gold markets in the same location, facilitate secure physical trading and efficient OTC transfer of kilobars, and aims to enhance market access and transparency through direct participation in a pre-funded central limit order book (CLOB).

    Initial services for Abaxx Spot will begin on June 12, 2025. Abaxx Spot is designed to allow participants to complete delivery obligations for Abaxx Exchange’s gold futures contracts, with the goal of establishing a more integrated and smarter infrastructure for gold markets.

    ¹Abaxx Spot Pte. Ltd. is a registered dealer under the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019 (PSPM Act), and is exempted from holding a spot commodities brokers license under the Commodity Trading Act 1992. Abaxx Spot Pte. Ltd. is not regulated by the Monetary Authority of Singapore as a financial institution, but operates in compliance with the regulatory framework established by the PSPM Act.

    About Abaxx Technologies
    Abaxx Technologies is building Smarter Markets: markets empowered by better tools, better benchmarks, and better technology to drive market-based solutions to the biggest challenges we face as a society, including the energy transition.

    In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is the indirect majority shareholder of Abaxx Singapore Pte. Ltd., the owner of Abaxx Exchange and Abaxx Clearing, and the parent company of wholly owned subsidiary Abaxx Spot Pte. Ltd., the operator of Abaxx Spot.

    Abaxx Exchange delivers the market infrastructure critical to the shift toward an electrified, low-carbon economy through centrally-cleared, physically-deliverable futures contracts in LNG, carbon, battery materials, and precious metals, meeting the commercial needs of today’s commodity markets and establishing the next generation of global benchmarks.

    For more information, visit abaxx.tech | abaxx.exchange | abaxxspot.com | basecarbon.com | smartermarkets.media

    For more information about this press release, please contact:

    Steve Fray, CFO
    Tel: +1 647-490-1590

    Media and investor inquiries:

    Abaxx Technologies Inc.
    Investor Relations Team
    Tel: +1 246 271 0082
    E-mail: ir@abaxx.tech

    Cautionary Statement Regarding Forward-Looking Information

    This press release includes certain “forward-looking statements” which do not consist of historical facts. Forward-looking statements include estimates and statements that describe Abaxx’s future plans, objectives, or goals, including words to the effect that Abaxx expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “seeking”, “should”, “intend”, “predict”, “potential”, “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “continue”, “plan” or the negative of these terms and similar expressions. Since forward-looking statements are based on current expectations and assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Abaxx, Abaxx does not provide any assurance that actual results will meet respective management expectations. Risks, uncertainties, assumptions, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information.

    Forward-looking information related to Abaxx in this press release includes, but is not limited to: Abaxx’s objectives, goals or future plans; completion and timing of the launch of its gold contracts; benefits of the introduction of its gold contracts; introduction of new precious metals products; and positive impacts from the growth of global precious metal demand. Such factors impacting forward-looking information include, among others: risks relating to the global economic climate; dilution; Abaxx’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for Abaxx to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on Abaxx and the industry; acquiring and maintaining regulatory approvals for Abaxx’s products and operations; the ability to list Abaxx’s securities on stock exchanges in a timely fashion or at all; network security risks; the ability of Abaxx to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors which could impact future results of the business of Abaxx include but are not limited to: operations in foreign jurisdictions; protection of intellectual property rights; contractual risk; third-party risk; clearinghouse risk; malicious actor risks; third- party software license risk; system failure risk; risk of technological change; dependence of technical infrastructure; and changes in the price of commodities, capital market conditions, restriction on labor and international travel and supply chains, and the risk factors identified in the Company’s most recent management discussion and analysis filed on SEDAR+. Abaxx has also assumed that no significant events occur outside of Abaxx’s normal course of business.

    Abaxx cautions that the foregoing list of material factors is not exhaustive. In addition, although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Abaxx has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking statements and information contained in this press release represents the expectations of Abaxx as of the date of this press release and, accordingly, is subject to change after such date. Abaxx undertakes no obligation to update or revise any forward-looking statements and information, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements and information. Cboe Canada does not accept responsibility for the adequacy or accuracy of this press release.

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