NewzIntel.com

Category: Trade

  • MIL-OSI Russia: Chinese checkpoints see surge in tourist flow over May Day holiday

    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 8 (Xinhua) — Cities with border checkpoints in China saw a significant increase in the number of foreign tourists crossing the border during the International Labor Day holiday, largely due to the relaxation of visa policies and improved services at checkpoints, according to the National Immigration Administration.

    From April 30 to May 3, foreign nationals passed through Beijing checkpoints 69,000 times, an increase of 52.1 percent year-on-year. The main purposes for entering the country were tourism, visiting relatives, and business trips.

    On May 2, an international flight from Paris landed at Beijing Capital International Airport. When an elderly couple was confused while completing their paperwork at the passport control hall, immigration officer Cui Zhongqing helped them through border control by explaining the rules in French. Cui Zhongqing speaks several foreign languages.

    At the main checkpoints of the Chinese capital, including the international airports of Beijing Capital and Daxing, highly qualified specialists like Cui Zhuqing provide more than 100 consultations per shift in foreign languages. Special corridors have been set up for the elderly, the sick, the disabled and pregnant women, and temporary entry permits and other procedures are processed through a “single window”.

    “It’s now much easier to get a temporary entry permit. You don’t even have to stand in line again. It’s as fast as riding the metro,” a Russian tourist shared.

    The southern Chinese city of Guangzhou recorded more than 154,000 entries and exits from May 1 to 3, up 23 percent year-on-year. “During peak hours, all 34 checkpoint windows were operating at full capacity to ensure travelers could pass through the inspection safely and efficiently,” said Lin Shunyue, an immigration officer at Baiyun Port.

    With the opening of the third phase of the 137th China Import and Export Fair (Guangzhou or Canton Fair), it was a busy period at Guangzhou Baiyun International Airport. At the arrivals hall, police officers worked with an AI-based consultation system to assist passengers at the designated corridor for exhibitors.

    “After the second phase, we went to Hong Kong, and now we are back for the third. The visa-free regime makes this process very convenient,” the Polish businessman noted.

    The immigration office at Chengdu Tianfu International Airport in southwest China’s Sichuan Province operated around the clock during the five-day holiday, allowing overseas arrivals to clear the immigration process immediately upon arrival.

    Thanks to the visa-free entry policy, the Spanish tourist was able to fully enjoy the local attractions, see pandas and taste Sichuan cuisine. “The unique charm of the city, the developed air network and efficient passport control made the trip to Chengdu unforgettable for me,” she said.

    According to the local border control department of Sichuan Province, as of May 3, 160,000 visa-free entries, more than 23,000 transit passengers taking advantage of the 24- or 240-hour visa-free stay rules, and more than 51,000 transit passengers passing through without border control have been registered through Chengdu checkpoints this year.

    China’s National Immigration Administration reported on May 6 that foreign nationals entered China 1.12 million times during the holiday period, up 43.1 percent from a year earlier.

    According to the above-mentioned department, it is especially noteworthy that over 380 thousand of these visits involved people entering China without a visa, which is 72.7 percent more than in the same period last year.

    China currently provides one-way visa-free entry to citizens of 38 countries. In addition, the visa-free transit period for passport holders of 54 countries was extended to 240 hours in December 2024. -0-

    MIL OSI Russia News –

  • MIL-OSI Submissions: Africa – The Islamic Development Bank (IsDB) Group Entities to Host the 13th Private Sector Forum in Algiers, Algeria (20-22 May 2025)

    SOURCE: Islamic Development Bank Group (IsDB Group)

    The forum will enhance public-private partnerships by strengthening collaboration between governments and private enterprises to drive economic diversification and sustainable development

    ALGIERS, Algeria, May 6, 2025/ — The Entities of the Islamic Development Bank (IsDB) Group (www.IsDB.org), including the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), and the International Islamic Trade Finance Corporation (ITFC), in collaboration with the Islamic Development Bank Group Business Forum (THIQAH), are pleased to announce the 13th edition of the Private Sector Forum (PSF 2025), taking place from May 20 to 22, 2025, at the Abdelatif Rahal International Conference Center in Algiers, Algeria. This prestigious event will take place on the sidelines of the IsDB Group Annual Meetings and is organized under the high patronage of His Excellency Abdelmadjid Tebboune, President of the People’s Democratic Republic of Algeria.

    Under the theme “Diversifying Economies, Enriching Lives” PSF 2025 aims to reinforce the pivotal role of the private sector in fostering sustainable economic growth, enhancing trade and investment flows, and unlocking opportunities for strategic partnerships across the IsDB member countries. The forum will provide an exclusive platform for key stakeholders to explore new business opportunities, exchange knowledge, and strengthen regional and international economic cooperation.

    PSF 2025 will promote investment and trade by highlighting emerging opportunities in key sectors such as infrastructure, energy, technology, healthcare, and finance while facilitating cross-border investments and trade.  The forum will enhance public-private partnerships by strengthening collaboration between governments and private enterprises to drive economic diversification and sustainable development. It will also empower entrepreneurs and startups by providing a dedicated platform to support innovative startups and SMEs through networking, capacity-building, and funding opportunities.  Additionally, it will facilitate business networking by organizing B2B and B2G meetings, fostering strategic alliances between businesses, investors, policymakers, and financial institutions.  Finally, it will showcase success stories and best practices by sharing real-world insights from industry leaders and experts to inspire growth, resilience, and transformation within member economies.

    The event is expected to attract over 1,500 participants, including high-level government officials, chairpersons, presidents, and CEOs of leading local and international companies, multilateral development institutions, chambers of commerce and industry, business associations, investment promotion agencies, individual investors, and entrepreneurs.

    In addition to insightful panel discussions and keynote speeches, PSF 2025 will feature a dedicated exhibition where partners can showcase their projects, services, and investment opportunities. It will include a startup competition designed to foster innovation and highlight groundbreaking business ideas. For the third time, the event will introduce the IsDB Group recognition awards, honoring distinguished organizations and individuals for their contributions to economic development and trade facilitation.

    The forum will welcome prominent speakers, including the Chief Executive Officers of the IsDB Group entities, Dr. Khalid Khalafalla, CEO of ICIEC and Acting CEO of ICD, and Eng. Adeeb Al Aama, CEO of ITFC. These leaders, along with industry experts, will share success stories, experiences, and best practices to further strengthen investment and trade across the IsDB member countries.

    For further details, please visit the event’s official website: www.IsDBG-PSF.org

    About Islamic Development Bank (IsDB):
    The Islamic Development Bank is a multilateral development bank that works to improve the lives of those it serves by promoting social and economic development in Muslim countries and communities around the world and making a difference at scale. Through collaborative partnerships between communities in its 57 member countries, the Bank seeks to equip communities to drive their own economic and social progress at scale, and put the infrastructure in place to enable them to realize their potential. The Bank’s new business model of “making markets work for development” contributes to enhancing the competitiveness of our member countries in strategic industries in order to improve participation and upgrading in global value chains. This is in the field of food and agricultural industries, textiles, clothing, leather, shoes, petrochemicals and petroleum, construction, and Islamic finance. The Bank also promotes innovative and sustainable solutions to the biggest development challenges in the world, and takes advantage of the scientific potential in technology and innovation as strategic drivers of economic growth, and we also work to achieve the United Nations sustainable development goals.

    About The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)
    About ICIEC:
    ICIEC commenced operations in 1994 to strengthen economic relations between OIC member countries and promote intra-OIC trade and investments by providing risk mitigation tools and financial solutions. The Corporation is uniquely the only Islamic multilateral insurer in the world. It has led from the front in delivering a comprehensive suite of solutions to companies and parties in its member countries. ICIEC, for the 17th consecutive year, maintained an “Aa3” insurance financial strength credit rating from Moody’s, ranking the Corporation among the top of the Credit and Political Risk Insurance (CPRI) Industry. Additionally, ICIEC has been assigned a First-Time “AA-” long-term Issuer Credit Rating by S&P with Stable Outlook.  ICIEC’s resilience is underpinned by its sound underwriting, reinsurance, and risk management policies. Cumulatively, ICIEC has insured more than US$121 billion in trade and investment. ICIEC activities are directed to several sectors – energy, manufacturing, infrastructure, healthcare, and agriculture.

    For more information, visit: http://ICIEC.IsDB.org ,

    About the Islamic Corporation for the Development of the Private Sector (ICD):
    The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral organization affiliated with the Islamic Development Bank (IsDB). It supports the economic development of its member countries by providing financial assistance to private sector projects in accordance with the principles of Shari’ah. It also mobilizes additional resources for projects and encourages the development of Islamic finance. ICD’s operations complement the activities of IsDB in member countries and also those of national financial institutions. ICD has 55 member countries and five public financial institutions as its shareholders and has an authorized capital of USD 4 billion.

    About the International Trade Finance Corporation (ITFC):
    The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided more than US$ 83 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools, which would enable them to successfully compete in the global market.

    About the Islamic Development Bank Group Business Forum (THIQAH):
    The Islamic Development Bank Group Business Forum (THIQAH) is the window of the IsDB Group that facilitate contact and coordination between entities concerned of the IsDB Group and private sector firms and related institutions in IsDB Group member countries. The main objective of THIQAH is to establish a unique platform for effective dialogue, cooperation and inclusive partnership for business leaders committed to partnering in promising investment opportunities. Through facilitation and catalyst roles, THIQAH will be leveraging IsDB Group’s resources to offer necessary services and confidence to investors and to establish strategic partnerships with the leaders of the private sector. The primary focus will be on maximizing cross-border investment among member countries to be supported by IsDB Group’s financial products and services. (www.IDBGBF.org)

    MIL OSI – Submitted News –

  • MIL-OSI: BadCreditLoans Reviewed: The Top Low Credit Lending Option for Payday Loans

    Source: GlobeNewswire (MIL-OSI)

    Tacoma, May 07, 2025 (GLOBE NEWSWIRE) —

    In This Article, You’ll Discover:

    • How BadCreditLoans.com connects borrowers with payday loans for bad credit using a secure online application system
    • The most common financial pain points faced by low credit borrowers and why traditional lenders often deny them
    • What makes BadCreditLoans a top-rated low credit lending option for emergency loans and same-day funding
    • A detailed breakdown of how the platform works — from eligibility checks to AI-powered loan matching and lender approval
    • Transparent insight into loan terms, interest rates (APR), repayment options, and application timelines
    • Real customer experiences and reviews highlighting ease of use, trustworthiness, and lender access
    • How Bad Credit Loans compares to other payday loan providers in the online lending space
    • Common concerns such as loan security, legitimacy, and data protection — with risk mitigation advice
    • Full pricing details, customer service contact information, and what to expect from the lending process in 2025
    • Important disclaimers regarding loan variability, APR, and pricing changes, with reminders to consult the official website

    TL;DR Summary:

    BadCreditLoans.com has emerged as a leading online solution for consumers searching for payday loans for bad credit and emergency funding with low credit scores. This comprehensive review explores how the platform works, who qualifies, and why it’s one of the top low credit lending options in 2025. From loan matching powered by fintech to flexible repayment terms and secure applications, BadCreditLoans connects borrowers to an expansive network of lenders without requiring perfect credit.

    Whether you’re looking for same-day funding, no credit check loans, or simply want to explore fast online payday loan options, this article outlines every key detail, including eligibility requirements, pricing, and borrower protections. Customer reviews and competitive comparisons are included to help you make an informed decision.

    Disclaimer: Loan offers, terms, and interest rates may vary by lender. Always confirm final pricing and conditions on the official website, as they are subject to change without notice.

    Introduction

    Bad Credit Loans: A Trusted Lifeline for Low-Credit Borrowers

    In today’s economic climate, more individuals than ever are struggling with limited credit access. Whether it’s due to past financial hardships, job loss, or emergency expenses, the reality is that a large segment of the population finds themselves turned away by traditional lenders. That’s where platforms like BadCreditLoans.com come in — a digital service built to help consumers with poor or no credit history connect with potential lenders for payday loans and other urgent cash needs.

    This review is designed for those facing financial uncertainty and wondering:

    Where can I turn when my credit score is low, and bills can’t wait?

    Understanding the Financial Struggles of Bad Credit Borrowers

    Why Borrowers with Bad Credit Face Unique Financial Barriers

    For millions of Americans, financial emergencies don’t wait for a perfect credit score. A single late payment, job loss, medical bill, or sudden expense can significantly lower your credit score, placing you in a category traditional banks often avoid: subprime or low-credit borrowers.

    Traditional lenders typically rely on strict credit scoring models that penalize individuals for missed payments, high credit utilization, or limited credit history. As a result, consumers in need of urgent financial relief, often searching for payday loans for bad credit or emergency loans with bad credit, are denied at the moment they need help most.

    Common Pain Points for Low-Credit Borrowers

    Low-credit borrowers frequently experience a frustrating loop:

    • Loan denial from traditional banks or credit unions, even for small amounts under $1,000
    • Predatory lenders charge extremely high APRs, trapping borrowers in cycles of debt
    • Stigma around credit score requirements, which prevents access to fair options
    • Limited access to short-term funding during medical, housing, or automotive emergencies

    This creates a financial bottleneck, where options become increasingly scarce, even as the need grows more urgent.

    Who’s Affected by These Barriers?

    The challenge of accessing affordable lending doesn’t only impact those with mismanaged finances. Many borrowers seeking low credit score loans are:

    • Gig workers or freelancers with inconsistent income
    • Students or recent graduates with little to no credit history
    • Individuals recovering from past financial hardships, such as divorce or bankruptcy
    • Seniors on fixed incomes who’ve fallen behind on bills
    • Households impacted by inflation or economic downturns

    This diverse group — often labeled “credit invisibles”—may not have extensive borrowing histories, but they do have legitimate, time-sensitive financial needs.

    When Traditional Credit Fails

    When banks say “no,” borrowers are often left with two choices:

    1. Delay essential expenses, risking utilities shut offs or eviction
    2. Turn to risky payday lenders or unregulated financial services

    This is where BadCreditLoans.com stands out. The platform acts as a secure bridge between borrowers and vetted lenders, offering a mobile-first lending experience designed to provide fast approvals, even for those with poor credit histories.

    Disclaimer: Loan approval through BadCreditLoans is not guaranteed. Lending decisions are made solely by third-party lenders, and terms will vary. Always review individual lender terms before accepting an offer.

    Why a Better Option Is Needed in 2025

    With rising costs of living, stagnant wages, and increased reliance on alternative income sources, more consumers are seeking online payday loans and same-day funding options. Unfortunately, the market is also seeing a rise in fraudulent or misleading financial offers.

    Borrowers today demand:

    • Transparent terms with no hidden fees
    • Access to no-credit-check loans or soft credit inquiries
    • Fast decisions and responsive customer support
    • Financial inclusion and flexible repayment plans

    BadCreditLoans.com addresses these concerns by offering a fintech lending platform that uses AI-powered loan matching, giving low-credit borrowers a safer and smarter alternative.

    Don’t wait! Apply now on BadCreditLoans.com and get matched with lenders offering up to $10,000—even with bad credit. Fast, secure, and 100% free!

    Introducing BadCreditLoans.com: A Beacon for Low-Credit Borrowers

    What Is BadCreditLoans.com?

    BadCreditLoans.com is not a direct lender — it’s an online loan aggregator platform that connects individuals with low credit scores to a wide network of potential lenders. The company has operated since 1998 and has established itself as a trusted digital lending gateway for consumers searching for payday loans for bad credit, emergency loans, and no credit check loan options.

    Rather than applying individually to multiple lenders — which can trigger repeated hard inquiries and further damage your credit — BadCreditLoans uses a single, secure online application to match you with lenders willing to work with borrowers in your credit range.

    A Fintech-Driven Solution to Modern Lending Needs

    The platform has adapted to meet the changing landscape of digital finance. Using AI-powered loan matching technology, BadCreditLoans analyzes borrower profiles in real time to pair users with lenders that align with their needs — offeringfast approval loans and same-day funding when available.

    This mobile-first lending experience ensures borrowers can apply and receive results conveniently from their smartphone, tablet, or desktop — 24/7.

    What Makes BadCreditLoans Different?

    Here’s what separates BadCreditLoans from other platforms in the subprime lending space:

    • Broad Network Access: The platform connects borrowers with dozens of reputable lenders, offering a variety of loan products, including personal loans, installment loans, and payday loans.
    • Soft Credit Checks Only: Your credit score will not be affected by the initial application. Many lenders rely on alternative credit scoring or income verification rather than traditional FICO scores.
    • No Fees to Use the Service: BadCreditLoans.com does not charge users for applying or for loan matching.
    • Flexible Loan Options: Loan amounts typically range from $500 to $10,000, with repayment terms from 3 to 60 months, depending on the lender.

    Disclaimer: BadCreditLoans.com is not a lender. All loan decisions, APRs, repayment terms, and eligibility criteria are determined by individual lenders. Always review any loan agreement carefully before accepting.

    A Secure Online Application You Can Trust

    In a digital age filled with scams and unreliable lenders, BadCreditLoans takes security seriously. The platform uses advanced encryption protocols to protect personal and financial information during the application process.

    Borrowers can submit applications confidently, knowing their data is safeguarded and shared only with potential lending partners within the BadCreditLoans network.

    Who Can Benefit Most?

    BadCreditLoans is ideal for:

    • Borrowers with poor or limited credit history
    • Individuals seeking short-term emergency funding
    • Applicants looking for no-credit-check payday loans
    • Consumers who want fast, hassle-free loan comparisons

    In short, if you’re searching for the best loans for bad credit in 2025, BadCreditLoans provides a streamlined, secure path forward — one built for convenience, transparency, and flexibility.

    Bills piling up? Get the funds you need today. Apply at BadCreditLoans.com for quick approval—even with bad credit or no credit. Start now!

    How BadCreditLoans.com Works: A Step-by-Step Guide

    Navigating the Application Process with Ease

    BadCreditLoans.com simplifies what is traditionally a stressful and time-consuming process. By offering a digital loan onboarding experience designed specifically for low-credit borrowers, the platform removes unnecessary friction and helps applicants connect with lenders in minutes.

    Let’s walk through the entire process — from application to funding.

    Step 1 — Submit the Online Application

    The first step is filling out a secure, no-cost online form directly on BadCreditLoans.com. This includes:

    • Full legal name, address, and contact information
    • Employment and income details
    • Bank account information (for direct deposit of funds)
    • Social Security number (used to conduct a soft credit inquiry)

    Unlike traditional banks, this initial application will not harm your credit score. It is designed for borrowers searching for no-credit-check loans or those with low credit scores who need quick funding options.

    Step 2 — Receive Loan Offers from Potential Lenders

    After submitting the application, BadCreditLoans uses AI-powered loan matching to compare your information with its network of partner lenders.

    You may receive multiple offers with varying:

    • Loan amounts (typically $500 to $10,000)
    • Repayment terms (3 months to 60 months)
    • Annual Percentage Rates (APR)
    • Fee structures (origination fees, if applicable)

    Each lender has its own criteria, but most are open to working with credit invisibles, freelancers, gig workers, and others who may have difficulty qualifying through conventional channels.

    Disclaimer: Loan availability, rates, and approval outcomes vary by lender and applicant profile. Always review each lender’s terms before proceeding.

    Step 3 — Review, Accept, or Decline Offers

    One of the platform’s most empowering features is transparency. There is no obligation to accept any offer. You’re free to:

    • Compare multiple offers
    • Read loan documents carefully
    • Ask questions directly to the lender
    • Decline an offer if the terms aren’t right

    BadCreditLoans encourages users to borrow responsibly — a key differentiator from many predatory payday lenders that pressure borrowers into accepting high-APR loans.

    Step 4 — Receive Your Funds

    Upon accepting a loan offer and completing any additional verification steps (such as confirming employment or banking details), many lenders offer:

    • Same-day or next-business-day funding
    • Direct deposit into your checking account

    This is especially valuable for users facing financial emergencies — such as medical bills, utility cutoffs, or urgent home repairs — who need fast approval loans.

    Step 5 — Repayment and Support

    Loan repayment is handled directly between the borrower and the selected lender. Repayment terms are set in advance and may include:

    • Fixed monthly payments
    • Automatic withdrawals from your bank account
    • Prepayment options, often without penalties

    Be sure to confirm:

    • Exact APR and total repayment cost
    • Payment dates and amounts
    • Late fees or grace periods

    Disclaimer: Always read the full loan agreement. Not all lenders allow early repayment without penalty. Terms and conditions vary.

    Why This System Works for Low-Credit Borrowers

    This step-by-step process is designed to provide structure and peace of mind for individuals who typically feel shut out of the lending system. With a mobile-first lending interface, transparent offers, and no upfront fees, BadCreditLoans.com is built to support financial inclusion, not exploitation.

    For users searching for online payday loans, bad credit personal loans, or emergency loans without a credit check, the platform offers a fast, secure, and user-friendly alternative in 2025’s evolving lending market.

    Get same-day payday loans with no upfront fees! BadCreditLoans.com connects you to lenders fast—even if your credit isn’t perfect. Apply now!

    Eligibility Criteria and Requirements

    Understanding who qualifies for a loan through BadCreditLoans.com is essential. The platform is designed to serve individuals who have historically been underserved by traditional financial institutions, including those with bad credit, limited credit history, or unconventional income sources.

    This section outlines the basic qualifications you’ll need to meet, as well as the inclusive approach BadCreditLoans takes in helping more people gain access to emergency funds.

    Who Can Apply?

    To be eligible for a loan offer through BadCreditLoans, you must meet the following minimum requirements:

    • Be at least 18 years old and a legal resident of the United States
    • Possess a valid checking account in your name
    • Have a steady source of income (employment, self-employment, benefits, etc.)
    • Provide a working phone number and email address

    These requirements are intentionally flexible to ensure that individuals in varying financial circumstances — including part-time workers, freelancers, and those recovering from financial setbacks — have an opportunity to apply.

    Credit History Requirements

    One of the most appealing features of BadCreditLoans is its accessibility to individuals with low or no credit scores. Many of the lenders in the network accept applicants who:

    • Have a poor FICO score or no FICO score at all
    • Have past bankruptcies, delinquencies, or charge-offs
    • They are labeled as credit invisibles due to a minimal borrowing history

    The use of soft credit inquiries ensures that submitting an application will not negatively affect your credit score, a crucial feature for those already navigating credit challenges.

    Alternative Approval Metrics

    Unlike traditional banks, many lenders connected through BadCreditLoans look at a broader picture when evaluating your application. They may consider:

    • Employment stability
    • Monthly income vs. existing obligations
    • Bank account activity
    • Alternative credit scoring methods (such as rent, utility, or phone bill payments)

    This inclusive underwriting process helps more people qualify for essential funding, even without a strong credit history. It aligns with emerging trends in fintech that prioritize real-time income verification and cash flow-based decision-making over legacy credit models.

    Designed for Financial Inclusion

    BadCreditLoans supports financial inclusion by helping underserved populations access transparent, regulated lending solutions, not high-interest payday traps. It fills a crucial gap in today’s lending market, providing fast approval options for people who may not have any other viable short-term alternatives.

    If you’ve searched for terms like “low credit score loans,” “bad credit loans online,” or “no credit check payday loans,” this platform is likely one of the most accessible paths forward.

    Disclaimer: Meeting the eligibility requirements does not guarantee loan approval. All loan offers are subject to individual lender evaluation and may vary based on your profile.

    Why wait? Apply now on BadCreditLoans.com to compare real loan offers in minutes—no obligation, no credit damage. Get funded fast!

    Loan Terms, Rates, and Repayment Options

    BadCreditLoans.com doesn’t issue loans directly but facilitates access to a broad range of lending options through its network of financial partners. The terms you receive will depend on the lender, your application details, and the type of loan product you pursue. Still, the platform provides a general structure for what borrowers can expect, giving users a clearer view of their options before committing.

    Loan Amounts

    Borrowers may be eligible for loans ranging from as little as $500 up to $10,000. These amounts can serve a variety of short-term or emergency needs — from utility bills and medical expenses to car repairs and rent payments. The flexibility in loan size ensures that users aren’t forced into borrowing more than they can reasonably afford.

    Interest Rates and APR

    Annual Percentage Rates (APR) typically fall between 5.99% and 35.99%, depending on the lender and the applicant’s financial profile. Factors that affect your APR include:

    • Type of loan selected (e.g., installment vs. payday)
    • Your verified income and monthly obligations
    • Repayment duration
    • Risk assessment performed by the lender

    While these rates are higher than those offered to borrowers with excellent credit, they are often more competitive and transparent than traditional payday loan storefronts.

    Disclaimer: APR ranges are determined by the individual lender and not BadCreditLoans.com. Your final APR will vary based on lender evaluation. Always review your loan offer carefully before accepting.

    Repayment Terms

    Repayment windows generally range from 3 months to 60 months. Short-term loans may require lump-sum repayment within a few weeks, while installment loans offer the convenience of scheduled monthly payments over a longer period.

    Some lenders may offer early payoff options without penalties, giving borrowers a chance to reduce interest by paying ahead of schedule.

    If you’re applying for a small loan to cover urgent costs, many users find repayment periods of 6 to 12 months to be a manageable middle ground, balancing affordability with speed.

    Transparency and Disclosures

    BadCreditLoans.com emphasizes lender transparency. Borrowers will be presented with:

    • Clear breakdowns of loan terms
    • Disclosure of fees, if applicable
    • Exact monthly payment obligations
    • Total repayment amount (including interest)

    There are no application or platform fees charged by BadCreditLoans. However, lenders may include origination fees, late payment penalties, or other costs in their individual agreements.

    Disclaimer: Loan fees, repayment flexibility, and total interest vary by lender. Be sure to read all terms before signing. Prepayment penalties may apply in some cases — always ask your lender directly if you’re unsure.

    Payment Collection Methods

    Most lenders automate repayment through scheduled bank account withdrawals. You’ll need to ensure sufficient funds are available on your agreed-upon payment dates to avoid overdraft fees or late penalties.

    In some cases, lenders offer web-based portals or mobile app support for tracking your repayment progress, updating payment information, or requesting due date changes.

    Who do These Loan Terms Benefit Most

    Borrowers looking for:

    • Flexibility in repayment schedules
    • Fast access to cash without extensive paperwork
    • Loans that don’t penalize poor credit history
    • A transparent agreement with no hidden clauses

    … will likely find these lending structures supportive and adaptive to real-life situations.

    For those seeking “bad credit loans online,” “emergency loans with bad credit,” or “fast approval loans” — this section of the process is where peace of mind starts.

    Disclaimer on Pricing: Loan costs, interest rates, and fees are determined by individual lenders. Pricing is subject to change at any time. Always check the official BadCreditLoans.com website or your lender’s site for the most up-to-date pricing and terms.

    Bad credit won’t hold you back! Submit your free BadCreditLoans.com application now and access emergency loans with flexible terms today!

    Comparing BadCreditLoans.com to Other Lending Platforms

    Borrowers exploring online lending options for bad credit quickly find that not all services deliver the same value. Some platforms are limited in scope, while others may impose hidden fees or fail to prioritize consumer protection. This section outlines how BadCreditLoans.com stands apart from competing services in the low-credit lending space.

    A Broader Network for More Loan Offers

    Unlike many payday loan sites that connect users to just one lender, BadCreditLoans.com gives applicants access to a network of vetted financial providers. This increases the chances of receiving multiple offers, helping users compare loan amounts, APRs, and terms. Borrowers seeking “best loans for bad credit” or “emergency loans with bad credit” benefit from this flexible structure.

    Zero Application Fees

    Many platforms charge upfront service or processing fees, especially those targeting low-credit borrowers. BadCreditLoans.com, in contrast, offers:

    • A free, no-obligation loan request process
    • No hidden fees for using the service
    • Full transparency during the loan-matching stage

    This fee-free approach makes it ideal for those already navigating tight budgets or financial emergencies.

    Credit-Sensitive Approval Model

    While some lenders require a hard credit pull upfront, BadCreditLoans uses a soft credit inquiry during the application process. This means:

    • No impact on your credit score
    • Broader lender participation for those with credit challenges
    • Increased chances of loan approval for credit invisibles or subprime borrowers

    Consumers who’ve faced multiple denials from banks or credit unions often find their first path forward here.

    Transparency and Borrower Control

    The platform gives users the ability to review, decline, or accept any offer without pressure. Each loan offer includes:

    • Clear repayment terms
    • Transparent APR breakdowns
    • Fee disclosures are where applicable
    • Direct access to the lender for further questions

    Borrowers researching “no credit check payday loans” or “safe online lending for bad credit” will appreciate this open, user-centric approach.

    Security and Trust

    BadCreditLoans employs advanced encryption to protect personal data. This is a major differentiator in a space where many digital loan platforms fall short on privacy practices. Data is only shared with verified lending partners, and the application is protected by secure protocols.

    Summary of Key Differentiators

    • BadCreditLoans.com only performs soft credit inquiries
    • Applicants receive multiple loan offers rather than being limited to a single lender
    • No platform fees or application charges are required to use the service
    • Loan terms are flexible and often include longer repayment windows
    • All disclosures and terms are provided upfront to encourage informed decisions
    • Data privacy and security protocols meet industry standards

    These features work together to create a platform that aligns with the needs of borrowers searching for “online payday loans for bad credit” and “fast approval loans with no hidden fees.”

    Disclaimer: Terms, availability, and borrower outcomes vary by lender. Always read individual loan offers carefully and verify details directly with the lender before proceeding.

    Strapped for cash? Apply at BadCreditLoans.com and see real offers in minutes. No fees, no pressure—just fast loan options made for you.

    Customer Testimonials and Reviews

    When evaluating any financial service, especially one tailored to individuals with bad credit, real user feedback is one of the most valuable sources of insight. While platform features and lender terms are important, the true test of a lending service’s effectiveness is how it performs in the real world for people in financial distress.

    BadCreditLoans.com has garnered a solid reputation over the years, largely because of its consistent delivery of fast, accessible, and transparent loan-matching services. This section captures what users are saying and why these experiences matter for those considering using the platform.

    What Customers Are Saying

    Many borrowers turn to BadCreditLoans after facing rejection from traditional banks. For these individuals, being matched with a lender who’s willing to work with a poor credit history is not just helpful — it’s essential.

    Users commonly report:

    • Quick and easy online application process
    • No unnecessary paperwork or hidden terms
    • Fast loan offers, sometimes within minutes
    • Same-day or next-day funding, depending on lender approval
    • Appreciation for being treated with respect despite a low credit score

    These first-hand accounts reveal a recurring theme: borrowers feel they’ve been given a second chance to stabilize their finances. For people who are used to being penalized for past mistakes, that access alone can be life-changing.

    Positive Experiences in Key Areas

    Beyond approval and funding speed, users consistently highlight the following:

    • The ability to compare multiple lenders without pressure to commit
    • Transparent breakdowns of repayment terms and total loan costs
    • No hard credit check required for initial loan inquiries
    • Helpful support when contacting customer service with questions

    This transparency and optionality stand in contrast to many “instant approval” payday loan sites that often steer applicants into rigid or expensive repayment structures without clarity.

    Constructive Criticism and Realistic Expectations

    While the platform has helped many, it’s important to mention that no lending service is without criticism. Some reviewers mention:

    • Higher interest rates from certain lenders
    • Confusion about repayment scheduling
    • Desire for more frequent lender updates after approval

    Most of these critiques are directed at the third-party lenders within the network, not BadCreditLoans itself. This highlights an important point: once a loan offer is accepted, the borrower’s relationship is with the individual lender, not the BadCreditLoans platform.

    Disclaimer: Loan experiences vary by borrower. All terms, communication, and funding schedules are set by third-party lenders. Always ask for clarification on repayment dates and APR prior to signing.

    Reputation in the Online Lending Industry

    BadCreditLoans is frequently listed among the top loan matching platforms for bad credit borrowers, especially those seeking payday loan alternatives. Its long-standing operation, transparent application flow, and no-fee structure continue to position it as a competitive and trustworthy option in the market.

    Borrowers who search for “trusted payday loan options in 2025” or “customer-reviewed bad credit loans” will likely encounter BadCreditLoans as a top result, and with good reason.

    Don’t let bad credit stop you. Get approved for payday loans today at BadCreditLoans.com. Fast, trusted, and secure. Apply now before it’s too late!

    Addressing Potential Concerns and Risks

    Borrowing money with a bad credit score can be intimidating — and with good reason. The lending industry is filled with providers who offer fast cash but bury harmful terms in the fine print. For borrowers seeking urgent funds, it’s easy to overlook the long-term impact of loan agreements made under pressure.

    BadCreditLoans.com is structured to reduce that risk. Still, it’s important to address the most common concerns borrowers have and explain how the platform helps mitigate them.

    Is BadCreditLoans a Scam?

    One of the most frequently asked questions from first-time users is whether BadCreditLoans is legitimate. The answer is yes — the platform has been operating since 1998 and functions as a loan matching service, not a lender.

    • It does not charge you to apply
    • It does not collect payment information for fees
    • It does not require loan acceptance to use the platform

    BadCreditLoans.com connects borrowers with lenders in a transparent, no-pressure environment and protects user information through secure encryption. For those searching “is BadCreditLoans legit or a scam,” this clarity is critical.

    Data Privacy and Security

    When entering personal financial details online, privacy is always a concern. BadCreditLoans uses industry-standard encryption and security protocols to ensure your application data is protected. Your information is shared only with the lenders considering your request.

    This is a major safeguard, especially compared to unregulated sites that may sell your data to marketing companies or unrelated third parties.

    APR and Repayment Risks

    Loan agreements provided by BadCreditLoans’ network of lenders can include a wide range of APRs — some exceeding 30%, depending on the applicant’s risk profile and loan type. While these are clearly disclosed during the offer stage, borrowers must remain cautious.

    Before accepting any offer:

    • Review the total cost of repayment
    • Understand the payment schedule and due dates
    • Confirm whether early repayment penalties apply
    • Contact the lender directly with any questions

    Disclaimer: APRs and fees vary by lender. Always read loan terms carefully. Declining a loan offer will not impact your ability to use the platform again.

    What Happens if You Miss a Payment?

    Missing a payment with any lender can result in late fees, additional interest charges, and possible credit reporting. Most lenders in the BadCreditLoans network offer automated withdrawals and email reminders, but it’s still your responsibility to ensure payments are made on time.

    If you foresee a problem:

    • Contact your lender in advance
    • Request a payment extension or an alternate plan if available
    • Avoid default by staying ahead of any upcoming issues

    This level of borrower control is another reason BadCreditLoans is often preferred over brick-and-mortar payday loan stores, where flexible repayment terms are rare.

    Recognizing Responsible Borrowing Practices

    BadCreditLoans emphasizes responsible borrowing through:

    • Transparent disclosures
    • Soft credit checks that don’t hurt your score
    • No-pressure comparisons between offers
    • No obligation to accept any loan

    These features give borrowers time to make informed decisions and avoid falling into a long-term cycle of high-interest debt.

    Bottom Line on Risk

    Any financial agreement comes with potential downsides. But for consumers seeking payday loans for bad credit or emergency cash options in 2025, BadCreditLoans offers a safer and more transparent alternative to many of the predatory lenders in the market.

    Disclaimer: Not all loan outcomes are ideal for every borrower. If you are unsure about a loan’s terms or repayment structure, consult a financial professional before signing.

    Pricing, Fees, and Contact Information

    When considering any financial product — especially in the subprime lending space — it’s critical to understand the full cost. One of the most valuable features of BadCreditLoans.com is its commitment to transparency: there are no hidden charges for using the platform, and all lender-provided fees are disclosed upfront before any agreement is made.

    Cost to Use the Platform

    There is no fee to submit a loan request through BadCreditLoans.com. You can:

    • Fill out the application for free
    • Receive multiple loan offers with no obligation to accept
    • Compare terms and rates from different lenders at no cost

    This distinguishes the platform from services that charge application or matching fees, often without improving the borrower’s outcomes.

    Possible Lender Fees

    Although the platform itself is free to use, individual lenders within the network may include:

    • Origination fees
    • Late payment penalties
    • Prepayment fees (less common, but possible)
    • Returned payment fees (e.g., due to insufficient funds)

    Lenders are required to disclose all costs, including the APR, total loan repayment amount, and fee structures, before you accept any offer. Reading this information thoroughly is essential to borrowing responsibly.

    Disclaimer: All loan fees and pricing are set by the individual lender, not BadCreditLoans.com. Always review the official loan agreement before accepting. Declining an offer does not cost anything.

    APR Ranges and Total Cost

    APR — or Annual Percentage Rate — is one of the most important numbers to consider. While rates vary, they typically range between 5.99% and 35.99%, depending on your income, credit profile, and loan amount.

    A higher APR means a higher cost of borrowing over time. However, lenders offering short-term payday loans for bad credit may still fall within this range, especially when compared to in-person payday storefronts, where APRs can exceed 400%.

    Disclaimer on Pricing: The lender provides all APRs, fees, and repayment terms. Pricing is subject to change at any time. Please refer to the official website or the individual lender’s page for the most accurate and current details.

    Transparency and Borrower Confidence

    Bad Credit Loans does not attempt to upsell, pressure, or manipulate users into accepting offers. You remain fully in control, and the platform’s fee-free approach makes it accessible to anyone seeking a secure and affordable way to explore bad credit loan options.

    For those researching “payday loans for bad credit” or “trusted bad credit loan providers,” knowing exactly what you’ll pay — and who to contact if you need help — is essential to making informed financial decisions.

    Facing a financial emergency? Apply at BadCreditLoans.com now and unlock low-credit payday loans with no risk to your score. It’s free to try!

    Is BadCreditLoans.com the Right Choice for You?

    Not every lending platform suits every borrower, but for those facing credit challenges, limited options, or urgent financial needs, BadCreditLoans.com is positioned as a strong contender in the online lending space. This section helps you evaluate whether the platform aligns with your situation, financial goals, and borrowing preferences.

    Who Benefits Most from This Platform?

    BadCreditLoans.com is ideal for individuals who:

    • Have a low credit score or limited credit history
    • Need access to emergency funding for bills, repairs, or medical expenses
    • Want to avoid predatory payday lenders or high-interest cash advance storefronts
    • Are you looking for no-pressure, no-fee online lending options
    • Prefer soft credit checks and the ability to compare multiple offers without commitment

    If you’ve been searching for “online payday loans for bad credit,” “fast approval loans with no credit check,” or “trusted lenders for low credit borrowers,” this platform is built with your profile in mind.

    Key Advantages That Set It Apart

    • No upfront fees or hidden platform costs
    • Secure online application with soft credit inquiries
    • Multiple lender offers based on real-time matching
    • Loan amounts from $500 to $10,000 with repayment terms from 3 to 60 months
    • Same-day or next-business-day funding in many cases
    • Support for financial inclusion, including those labeled as “credit invisibles”

    These features work together to provide access, transparency, and a higher degree of borrower control compared to traditional payday loan services.

    Important Considerations Before Applying

    While the platform is designed to simplify the lending process, you should still approach every loan decision with care:

    • Always review each lender’s terms, including APR, fees, and payment schedule
    • Make sure you can meet the monthly payment obligations
    • Only borrow what you need and can realistically repay within the loan window
    • Use the platform’s flexibility to compare offers, not commit to the first one you receive

    Borrowers who rush through this stage often overlook repayment costs or potential penalties, leading to unnecessary financial strain later on.

    Disclaimer: Loan terms, interest rates, and funding timelines are determined by individual lenders. Approval is not guaranteed. Always verify loan details directly with the lender before signing.

    Final Verdict

    BadCreditLoans.com provides a streamlined, secure, and user-focused way to explore financing when traditional options are unavailable. It empowers users to compare offers, maintain control over their decisions, and connect with lenders who understand the realities of bad credit borrowing.

    If you’re facing urgent financial pressure, need a low-credit loan, and want a platform that prioritizes transparency and trust, BadCreditLoans.com offers a compelling path forward.

    Need cash now? Get up to $10,000 even with bad credit. Apply free at BadCreditLoans.com and get lender offers in minutes. No credit harm. Start now!

    Frequently Asked Questions (FAQ)

    What is BadCreditLoans.com and how does it work?

    BadCreditLoans.com is an online loan matching platform that connects individuals with low credit scores to lenders offering payday loans, installment loans, and other short-term financial solutions. Instead of acting as a lender itself, it securely gathers your application information, performs a soft credit inquiry, and uses AI-powered loan matching to present you with offers from vetted lenders — all within minutes.

    Can I get a payday loan with bad credit?

    Yes. One of the key benefits of using Bad Credit Loans is its focus on helping individuals find payday loans for bad credit. Many lenders in the network specialize in working with borrowers who have low or no credit scores, offering flexible terms and approval based on income and other factors.

    Will using BadCreditLoans.com hurt my credit score?

    No. The platform only uses soft credit checks during the application process, which do not impact your credit score. However, if you choose to accept a loan offer, the lender may conduct a hard inquiry prior to finalizing approval.

    Are no credit check loans really available through BadCreditLoans?

    Some lenders in the BadCreditLoans network offer no credit check loans or rely on alternative credit evaluation methods such as income verification, employment history, and banking activity. While not all lenders skip traditional checks, borrowers searching for “no credit check payday loans” will find many accessible options here.

    How much money can I borrow?

    Loan amounts typically range from $500 to $10,000. The exact amount you’re eligible for depends on your application profile, income level, repayment ability, and the lender’s policies. Whether you need a small cash advance or a larger emergency loan, the platform can match you accordingly.

    How fast can I receive the funds?

    Many borrowers receive funds within one business day after accepting a loan offer. Some lenders may offer same-day deposit, especially for smaller amounts. This makes BadCreditLoans a useful option for emergency loans with bad credit when time is critical.

    Disclaimer: Funding timelines vary by lender and application completeness. Always confirm expected deposit dates directly with your lender.

    What are the interest rates and repayment terms?

    Annual Percentage Rates (APR) vary between 5.99% and 35.99%, depending on the lender and your financial profile. Repayment terms generally range from 3 to 60 months. Every loan offer includes detailed disclosures regarding the total repayment amount, monthly payments, and fees.

    Disclaimer: APRs and repayment terms are determined by individual lenders. Always review the full loan agreement before signing.

    Can I repay my loan early?

    Many lenders allow early repayment without penalty, potentially saving you money on interest. Always check your specific loan agreement or contact your lender to confirm prepayment terms.

    What if I miss a payment?

    Missing a payment can result in late fees and negatively impact your credit if the lender reports it. If you anticipate difficulty making a payment, contact your lender immediately. Some lenders may offer payment extensions or restructuring options.

    Is BadCreditLoans.com safe to use?

    Yes. The platform uses secure encryption protocols to protect your personal and financial data. Your information is shared only with lenders who are evaluating your loan request — never with unrelated third parties.

    Who should use BadCreditLoans?

    This platform is best suited for:

    • Individuals seeking low credit score loans
    • Borrowers needing emergency funds with fast approval
    • Consumers looking for payday loan alternatives with more flexible repayment options
    • Applicants who want to compare multiple lenders through one secure online application

    Is there a fee to use BadCreditLoans.com?

    No. The platform is completely free to use. You can apply, compare loan offers, and decline offers without paying any fees to BadCreditLoans.com. However, lenders may include fees in their offers, such as origination charges or late penalties.

    Low credit? No problem. Apply now at BadCreditLoans.com and get matched with lenders offering fast loans and flexible repayment. Start today!

    • Company: BadCreditLoans
    • Email: support@badcreditloans.com
    • Phone Support: 800-245-5626

    Legal Disclaimer and Affiliate Disclosure

    The information provided in this article is for general informational and educational purposes only and does not constitute financial, legal, or professional advice. Every effort has been made to ensure the accuracy, reliability, and timeliness of the content at the time of publication; however, no representations or warranties are made regarding the completeness, accuracy, or applicability of the information, including but not limited to any inadvertent errors, typographical mistakes, or outdated data. Neither the publisher, the authors, the content providers, nor any syndication partners shall be held liable for any direct, indirect, incidental, consequential, or punitive damages arising from the use, reliance upon, or interpretation of the information contained herein.

    The content does not guarantee loan approval, funding timelines, credit outcomes, or financial results. Readers are strongly encouraged to independently verify all information, consult directly with lenders or financial institutions, and seek advice from licensed professionals before making any financial decisions.

    The purpose of this website and its content is to connect potential borrowers with lenders and financial service providers who advertise on this website. The operator of this website is not a lender, broker, or financial institution, and does not make credit decisions or issue loans. This website solely collects information from consumers and transmits it to lenders and third-party providers who may offer loan products that match the consumer’s needs. For consumers who do not qualify for a personal loan, alternative lenders and providers may be recommended.

    This website shall not be construed as an offer or solicitation for a loan. There is no guarantee that a loan application will be approved or that an offer will be extended. The operator of this website does not charge consumers for the service provided and is not an agent or representative of any lender or third-party provider. The operator is compensated by lenders and third-party providers for advertising and marketing services. The time required to receive funds will vary by lender and may also depend on the policies of the borrower’s financial institution. Some lenders may require additional documentation, including faxed materials, before approving or funding a loan.

    This service and the associated lenders or third-party providers may not be available in all states. Availability of loan products is subject to change without notice and may be restricted by applicable laws or lender requirements. Consumers are advised to contact lenders directly with any questions regarding loan terms, conditions, fees, repayment schedules, or other specific details of any loan offer.

    Personal loans and other types of loans accessible through this platform should not be viewed as long-term financial solutions. They are intended to provide short-term financial assistance for immediate needs. Lenders and third-party providers may perform credit checks with one or more credit reporting agencies, which may affect a borrower’s credit score. By submitting a loan request, consumers authorize participating lenders and third-party providers to independently verify submitted information and evaluate creditworthiness. Failure to repay a loan may result in collection efforts, and lenders may report delinquent payment history to credit bureaus, potentially impacting future lending decisions.

    Nothing contained on this website or in this article shall constitute an offer or solicitation for a loan.

    Residents of certain U.S. states may not qualify for a loan due to lender-specific requirements or restrictions. Submission of a loan request form does not guarantee that a lender will offer a loan product or that an offer will be provided with rates or terms satisfactory to the borrower.

    Affiliate Disclosure: This article may contain affiliate links. If a reader clicks on such a link and completes a loan application or transaction, the publisher or associated parties may receive a commission or referral fee at no additional cost to the consumer. Any such affiliate relationship has no impact on the editorial integrity, research process, or opinions expressed in the article. The presence of affiliate links is disclosed in compliance with the Federal Trade Commission’s guidelines for endorsements and testimonials.

    All parties involved in the creation, publication, distribution, and syndication of this article shall be held harmless from any and all claims, damages, liabilities, or legal actions resulting from the use, reliance, or interpretation of the information provided. No warranties of any kind, express or implied, are made regarding the quality, accuracy, or completeness of the information or the services referenced.

    Readers accept full responsibility for evaluating and utilizing any product, service, or loan offer mentioned herein. All terms, conditions, availability, and loan details are subject to change at any time without notice. For the most current information, consumers should refer directly to the official website of the lending platform or individual lenders.

    The MIL Network –

  • MIL-OSI Asia-Pac: Highlights of Telecom Subscription Data as on 31st March, 2025

    Source: Government of India

    Posted On: 07 MAY 2025 4:41PM by PIB Delhi

    Particulars

    Wireless

    Wireline

    Total

    (Wireless+

    Wireline)

    Broadband Subscribers (Million)

    902.74*

    41.39

    944.12

    Urban Telephone Subscribers (Million)

    632.57*

    33.54

    666.11

        Net Addition in March, 2025 (Million)

    -1.64

    -0.39

    -2.03

         Monthly Growth Rate

    -0.26%

    -1.15%

    -0.30%

    Rural Telephone Subscribers (Million)

    531.18*

    3.50

    534.69

        Net Addition in March, 2025 (Million)

    4.86

    0.52

    5.38

         Monthly Growth Rate

    0.92%

    17.59%

    1.02%

    Total Telephone Subscribers (Million)

    1163.76*

    37.04

    1200.80

       Net Addition in March, 2025 (Million)

    3.21

    0.13

    3.35

         Monthly Growth Rate

    0.28%

    0.37%

    0.28%

    Overall Tele-density@(%)

    82.42%

    2.62%

    85.04%

         Urban Tele-density@(%)

    124.83%

    6.62%

    131.45%

         Rural Tele-density@(%)

    58.67%

    0.39%

    59.06%

    Share of Urban Subscribers

    54.36%

    90.55%

    55.47%

    Share of Rural Subscribers

    45.64%

    9.45%

    44.53%

     

    • In the month of March 2025, 13.54 million subscribers submitted their requests for Mobile Number Portability (MNP). With this, the cumulative MNP requests increased from 1105.39 million at the end of February-25 to 1118.94 million at the end of March-25, since implementation of MNP.
    • Number of active wireless (Mobile) subscribers (on the date of peak VLR#) in March 2025 was 1074.21 million.

    Note:

    1. *   Wireless includes 5G FWA subscription also. 
    2. @ Based on the projection of population from the ‘Report of the Technical Group on Population Projections for India and States 2011 – 2036’.   
    3. # VLR is acronym of Visitor Location Register. The dates of peak VLR for various TSPs are different in different service areas.
    4. The information in this Press Release is based on the data provided by the Service Providers.
    1. Broadband Subscribers
    • As per the information received from 1206 operators in March 2025, in comparison to 1189 operators in February 2025, the total Broadband Subscribers increased from 944.04 million at the end of February-25 to 944.12 million at the end of March-25 with a monthly growth rate of 0.009%. Segment-wise broadband subscribers and their monthly growth rates are as below: –

    Segment–wise Broadband Subscribers and Monthly Growth Rate in the month of March, 2025

    Segment

    Subscription

    Subscribers

    (in million)

    % Change

    Feb-25

    Mar-25

    Wired subscribers

    Fixed (wired) Broadband

    (DSL, FTTx, Ethernet/LAN, Cable Modem, ILL)

    41.20

    41.39

    0.44%

    Wireless Subscribers

    Fixed Wireless Broadband

    (FWA-5G, Wi-Fi, Wi-Max, Radio, Satellite)

    4.89

    4.89

    0.16%

    Mobile Broadband

    (Handset/Dongle based)

    897.95

    897.84

    -0.01%

    Total Broadband Subscribers

    944.04

    944.12*

    0.009%

     

      * This report is prepared considering the last reported (Nov 2024) internet subscription data submitted by M/s Reliance Jio Infocom Ltd. and M/s Bharti Airtel Ltd., as they did not submit the requisite data in the prescribed format for Dec-2024 and Jan, Feb & Mar-2025.

    As on 31st March 2025, top five Broadband

    (Wired + Wireless) Service providers

    S.N.

    Name of the Service Provider

    Subscriber base

    (In million)
    1.  

    Reliance Jio Infocomm Ltd

    476.58*
    1.  

    Bharti Airtel Ltd.

    289.31*
    1.  

    Vodafone Idea Ltd.

    126.41
    1.  

    Bharat Sanchar Nigam Ltd.

    34.57
    1.  

    Atria Convergence Technologies Limited

    2.29

    Market Share of Top Five Broadband (Wired+Wireless)

    98.41%

    *As per reported data of Nov-24

    • The graphical representation of the service provider-wise market share of broadband services is given below: –

    Service Provider-wise Market Share of Broadband

    (wired + wireless) Services as on 31st March, 2025

    As on 31st March, 2025, Top Five Fixed (Wired) Broadband Service providers

    S.N.

    Name of the Service Provider

    Subscriber base

    (In million)
    1.  

    Reliance Jio Infocomm Ltd

    11.48*
    1.  

    Bharti Airtel Ltd

    8.55*
    1.  

    Bharat Sanchar Nigam Ltd

    4.34
    1.  

    Atria Convergence Technologies Limited

    2.29
    1.  

    Kerala Vision Broadband Ltd

    1.31

    Market Share of Top Five Fixed (Wired) Broadband Service Providers

    67.57%

    *As per reported data of Nov-24

    As on 31st March, 2025, top five Wireless (Fixed wireless & mobile) Broadband Service providers

    S.N.

    Name of the Service Provider

    Subscriber base

    (In million)
    1.  

    Reliance Jio Infocomm Ltd

    465.10*
    1.  

    Bharti Airtel Ltd

    280.76*
    1.  

    Vodafone Idea Ltd

    126.40
    1.  

    Bharat Sanchar Nigam Ltd

    30.23
    1.  

    IBus Virtual Network Services Private Limited

    0.09

    Market Share of Top Five Wireless Broadband Service Providers

    99.98%

    *As per reported data of Nov-24

    1. Wireline Subscribers
    • Wireline subscribers increased from 36.91 million at the end of February-25 to 37.04 million at the end of March-25. Net increase in the wireline subscriber base was 0.13 million with a monthly rate of growth 0.37%.
    • The Overall wireline Tele-density in India remained same i.e. 2.62% at the end of March-25 which was at the of February-25. Urban and Rural Wireline Tele-density were 6.62% and 0.39%, respectively, during the same period.  The share of urban and rural subscribers in total wireline subscribers were 90.55% and 9.45% respectively at the end of March, 2025.
    • BSNL, MTNL, and APSFL, the three PSUs access service providers, held 27.87% of the wireline market share as on 31st March 2025. Detailed statistics of the Wireline subscriber base are available at Annexure-I.

     

    Access Service Provider-wise Market Share of wireline Subscribers

    as on 31st March, 2025

    Access Service Provider-wise Net Addition/Decline in wireline Subscribers during the month of March, 2025

    1. Wireless (Mobile+5G FWA) Subscribers

     

    • Total wireless (mobile+5G-FWA) subscribers increased from 1,160.33 million at the end of February-25 to 1,163.76 million at the end of March-25, thereby registering a monthly growth rate of 0.28%. Total Wireless subscription in urban areas decreased from 634 million on February-25 to 632.57 million on March-25 and the subscription in rural areas also increased from 526.33 million to 531.18 million during the same period. The monthly growth rate of urban and rural wireless subscriptions was  -0.26% and 0.92%, respectively.
    • The Wireless Tele-density in India increased from 82.23% at the end of Feb-25 to 82.42% at the end of Mar-25. The Urban Wireless Tele-density decreased from 125.30% at the end of Feb-25 to 124.83% at the end of Mar-25 however, the Rural Tele-density increased from 58.16% to 58.67% during the same period. The share of urban and rural wireless subscribers in the total number of wireless subscribers was 54.36% and 45.64%, respectively, at the end of March-25.
    • The details of Wireless (mobile) and Wireless (5G FWA) subscribers are detailed below: –

     

    (A) Wireless (Mobile) subscriber

     

    • Total wireless (Mobile) subscribers increased from 1,154.05 million at the end of Feb-25 to 1,156.99 million at the end of Mar-25, thereby registering a monthly growth rate of 0.25%. Wireless (Mobile) subscription in urban areas increased from 627.94 million at the end of Feb-25 to 628.31 million at the end of Mar-25 and wireless (Mobile) subscription in rural areas also increased from 526.11 million to 528.68 million during the same period. Monthly growth rate of urban and rural wireless (Mobile) subscription was 0.06% and 0.49% respectively.

             

    • The Wireless (Mobile) Tele-density in India increased from 81.79% at the end of Feb-25 to 81.94% at the end of Mar-25. The Urban Wireless Tele-density decreased from 124.10% at the end of Feb-25 to 123.99% at the end of Mar-25 however Rural Tele-density increased from 58.13% to 58.40% during the same period. The share of urban and rural wireless (Mobile) subscribers in total number of wireless (Mobile) subscribers was 54.31% and 45.69% respectively at the end of March 2025. Detailed statistics of wireless (Mobile) subscriber base is available at Annexure-II.

    •      As on 31st March 2025, the private access service providers held 92.04% market share of the wireless (Mobile) subscribers, whereas BSNL and MTNL, the two PSU access service providers, had a market share of only 7.96%.

    • The graphical representation of access service provider-wise market share and net additions in wireless (Mobile) subscriber base are given below: –

    Access Service Provider-wise Market Shares in term of Wireless (Mobile) Subscribers as on 31st March, 2025

    Net Addition/ Decline in Wireless (Mobile) Subscribers of Access Service Providers in the month of March, 2025

    Growth in Wireless (Mobile) Subscribers

    Major Access Service Provider-wise Monthly Growth/ Decline Rate of Wireless Subscribers in the month of March, 2025

     

    Service Area-wise Monthly Growth/ Decline Rate of Wireless (Mobile) Subscribers in the month of March, 2025

    • Except Tamil Nadu, Kerala, Andhra Pradesh and Kolkata all other service areas have showed growth in their wireless (Mobile) subscribers during the month of March-25.

     (B) Wireless (5G FWA) subscribers

     

    • Total wireless (5G FWA) subscribers increased from 6.27 million at the end of February-25 to 6.77 million at the end of March-25 with subscriptions in urban and rural areas of 4.26 million and 2.51 million, respectively

     

    • The share of urban and rural wireless (5G FWA) subscribers in the total number of wireless (5G FWA) subscribers was 62.97% and 37.03%, respectively at the end of March, 2025. Detailed statistics of the wireless (5G FWA) subscriber base is available at Annexure-V
    1. M2M cellular mobile connections

                              Number of M2M cellular mobile connections increased from 64.71 million at the end of February-25 to 66.54 million at the end of March-25.

     

         Bharti Airtel Limited has the highest number of M2M cellular mobile connections 34.82 million with a market share of 52.32% followed by Vodafone idea Limited, Reliance Jio Infocom Limited and BSNL with market share of 24.39%, 18.25% and 5.04% respectively.

    1.  Total Telephone Subscribers
    • The number of total telephone subscribers in India increased from 1,197.23 million at the end of Feb-25 to 1,200.80 million at the end of Mar-25, thereby showing a monthly growth rate of 0.28%. Urban telephone subscription decreased from 667.93 million at the end of Feb-25 to 666.11 million at the end of Mar-25 however the rural subscription increased from 529.31 million to 534.69 million during the same period. The monthly growth rates of urban and rural telephone subscription were -0.30% and   1.02% respectively during the month of March, 2025.  
    • The overall Tele-density in India increased from 84.85% at the end of Feb-25 to 85.04% at the end of Mar-25. The Urban Tele-density decreased from 132.01% at the end of Feb-25 to 131.45% at the end of Mar-25 however Rural Tele-density increased from 58.48% to 59.06% during the same period. The share of urban and rural subscribers in total number of telephone subscribers at the end of March-25 were 55.47% and 44.53% respectively.

    Overall Tele-density (LSA Wise) – As on 31st March, 2025

    • As may be seen in the above chart, eight LSA have less tele-density than the all-India average tele-density at the end of March-25. Delhi service area has maximum tele-density of 275.79% and the Bihar service area has minimum tele-density of 57.23% at the end of March-25.

    Notes: –

    1. Population data/projections are available state wise only.
    2. Tele-density figures are derived from the telephone subscriber data provided by the access service providers and the projection of population from the “Report of the Technical Group on Population Projections for India and States 2011 – 2036.
    3. Telephone subscriber data for Delhi, includes, apart from the data for the State of Delhi, wireless subscriber data for the areas served by the local exchanges of Ghaziabad & Noida (in Uttar Pradesh) and Gurgaon & Faridabad (in Haryana).
    4. Data/information for West Bengal includes Kolkata, Maharashtra includes Mumbai and Uttar Pradesh includes UPE & UPW service area(s).
    5. Data/information for Andhra Pradesh includes Telengana, Madhya Pradesh includes Chhatishgarh, Bihar includes Jharkhand, Maharashtra includes Goa, Uttar Pradesh includes Uttarakhand, West Bengal includes Sikkim and North-East includes Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland & Tripura States.

     

    1. Category-wise Growth in subscriber base

    Circle Category-wise Net Additions in Telephone Subscribers in the month March, 2025          

    Circle

    Category

    Net additions in the month of March, 2025

    Telephone Subscriber base as on 31st March, 2025

    Wireline segment

    Wireless* segment

    Wireline segment

    Wireless* segment

    Circle A

    61442

    161244

    14568246

    386538167

    Circle B

    63707

    1110993

    10199907

    471472982

    Circle C

    17156

    1470149

    2946671

    192267604

    Metro

    -7369

    469123

    9325910

    113476417

    All India

    134936

    3211509

    37040734

    1163755170

              *Wireless includes 5G FWA subscription also

    Circle Category-wise monthly and yearly Growth Rates in Telephone Subscribers in the month of March, 2025

    Circle Category

    Monthly growth rate (%)

    (February-25 to March-25)

    Yearly growth rate (%)

    (March-24 to March-25)

    Wireline Segment

    Wireless* Segment

    Wireline Segment

    Wireless* Segment

    Circle A

    0.42%

    0.04%

    10.69%

    -0.48%

    Circle B

    0.63%

    0.24%

    13.09%

    -0.41%

    Circle C

    0.59%

    0.77%

    11.88%

    1.74%

    Metro

    -0.08%

    0.42%

    3.88%

    -1.09%

    All India

    0.37%

    0.28%

    9.62%

    -0.15%

    *Wireless includes 5G FWA subscription also

    Note:  Circle Category-Metro includes Delhi, Mumbai and Kolkata. Data for Chennai has been included in Circle Category-A, as part of TamilNadu.

     

    • As can be seen in the above tables, in the wireless segment, during the month of March 2025, on monthly basis, all circles have registered  growth rate in their subscriber base. On a yearly basis, except Circle ‘C’, all other circles have registered a decline in their subscriber base.
    •  In the Wireline segment, during the month of March 2025, on monthly basis, except Circle ‘Metro’, all other circles have registered growth in their subscriber base. On yearly basis, all circles have registered growth in their subscriber.
    1.  Active Wireless (Mobile) Subscribers (VLR Data)
    • Out of the total 1156.99 million wireless subscribers, 1074.21 million wireless subscribers were active on the date of peak VLR in the month of March-25. The proportion of active wireless subscribers was approximately 92.85% of the total wireless subscriber base.
    • The detailed statistics on proportion of active wireless subscribers (also referred to as VLR subscribers) on the date of peak VLR in the month of March-25 is available at Annexure-III and the methodology used for reporting VLR subscribers is available at Annexure-IV.

    Access Service Provider-wise Percentage of VLR Subscribers

    in the month of March, 2025 

    • Reliance Communication has the maximum proportion 100% of its active wireless subscribers (VLR) as against its total wireless subscribers (HLR) on the date of peak VLR in the month of March-25 and MTNL has the minimum proportion of VLR 48.07% of its HLR during the same period.

    Service Area wise percentage of VLR Subscribers

    in the month of March, 2025

    1. Mobile Number Portability (MNP)
    • Intra-service area Mobile number portability (MNP) was implemented first in Haryana service area w.e.f. 25.11.2010 and in the rest of the country w.e.f. 20.01.2011. Inter-Service Area MNP has been implemented in the country w.e.f. 03.07.2015. Now, the wireless telephone subscribers can retain their mobile numbers when they relocate from one service area to another.
    • During the month of March-25, a total of 13.54 million requests were received for MNP.  Out of total 13.54 million, new requests received from Zone-I & Zone-II were 7.51 million and 6.03 million respectively. The cumulative MNP requests increased from 1105.39 million at the end of February-25 to 1118.94 million at the end of March-25, since the implementation of MNP. 
    • In MNP Zone-I (Northern and Western India), the highest number of requests till date have been received in Uttar Pradesh-East (about 111.89 million) followed by Maharashtra (about 90.87 million) service area.
    • In MNP Zone-II (Southern and Eastern India), the highest number of requests till date have been received in Madhya Pradesh (about 88.41 million) followed by Karnataka (about 73.53 million).

    Service Area Wise MNP Status

    Zone-I

    Zone–II

    Service Area

    Number of Porting Requests (in Million)

    Service Area

    Number of Porting Requests

    (in Million)

    Feb-25

    Mar-25

    Feb-25

    Mar-25

    Delhi

    52.65

    53.25

    Andhra Pradesh

    72.06

    72.69

    Gujarat

    75.20

    76.11

    Assam

    8.09

    8.20

    Haryana

    34.79

    35.19

    Bihar

    63.84

    64.93

    Himachal Pradesh

    4.64

    4.68

    Karnataka

    72.96

    73.53

    Jammu & Kashmir

    3.17

    3.23

    Kerala

    26.11

    26.34

    Maharashtra

    89.94

    90.87

    Kolkata

    20.00

    20.17

    Mumbai

    35.98

    36.23

    Madhya Pradesh

    87.16

    88.41

    Punjab

    36.01

    36.37

    North East

    2.52

    2.55

    Rajasthan

    73.85

    74.56

    Odisha

    19.26

    19.48

    U.P.(East)

    110.02

    111.89

    Tamil Nadu

    68.67

    69.33

    U.P.(West)

    82.68

    84.03

    West Bengal

    65.79

    66.88

    Total

    598.92

    606.43

    Total

    506.48

    512.51

    Total (Zone-I + Zone-II)

     

    		  

    1,105.39

    1,118.94

    Net Addition (March, 2025)

                                              13.54 million

     

    Contact details in case of any clarification: –

    Shri Vijay Kumar, Advisor (F&EA),

    Telecom Regulatory Authority of India                                                                 

    World Trade Centre, Tower-F,

    Nauroji Nagar, New Delhi – 110029

    Ph: 011-20907773                                                                       (D. Manoj)

    E-mail: advfea1@trai.gov.in                                                  Pr. Advisor (F&EA)

     

                            Note: Peak VLR figures in some circles of some of the service providers are more than their HLR  figures due to a large number of inroamers. 

    Annexure IV

    VLR Subscribers in the Wireless Segment

     

    Home Location Register (HLR) is a central database that contains details of each mobile phone subscriber that is authorized to use the GSM core network. The HLRs store details of every SIM card issued by the service provider. Each SIM has a unique identifier called an International Mobile Subscriber Identity (IMSI), which is the primary key to each HLR record. The HLR data is stored for as long as a subscriber remains with the service provider. HLR also manages the mobility of subscribers by means of updating their position in administrative areas. It sends the subscriber data to a Visitor Location Register (VLR).

    Subscriber numbers reported by the service providers is the difference between the numbers of IMSI registered in service provider’s HLR and sum of other figures as given below: –

     

    1

    Total IMSI’s in HLR (A)

    2

    Less: (B = a + b + c + d + e)

    a.

    Test/Service Cards

    b.

    Employees

    c.

    Stock in hand/in Distribution Channels (Active Card)

    d.

    Subscriber Retention period expired

    e.

    Service suspended pending disconnection

    3

    Subscribers Base (A-B)

    Visitor Location Register (VLR) is a temporary database of the subscribers who have roamed into the particular area, which it serves. Each base station in the network is served by exactly one VLR; hence a subscriber cannot be present in more than one VLR at a time.

    If subscriber is in active stage i.e. he is able to send/receive calls/SMSs he is available both in HLR and VLR. However, it may be possible that the subscriber is registered in HLR but not in VLR due to the reason that he is either switched-off or moved out of coverage area, not reachable etc. In such circumstances he will be available in HLR but not in VLR. This causes difference between subscriber number reported by the service providers based on HLR and numbers available in VLR.

    The VLR subscriber data calculated here is based on active subscribers in VLR on the date of Peak subscriber number in VLR of the particular month for which the data is being collected. This data is to be taken from the switches having the purge time of not more than 72 hours.

    ***

    Samrat

    (Release ID: 2127534) Visitor Counter : 28

    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: Written question – Israeli settlement products: alignment of EU policies with UN resolution – P-001801/2025

    Source: European Parliament

    Priority question for written answer  P-001801/2025
    to the Commission
    Rule 144
    Mounir Satouri (Verts/ALE)

    On 15 January 2025, in a written response, Commissioner for Trade and Economic Security Maroš Šefčovič stated that the ‘EU positions and policies are fully aligned’ with the UN General Assembly resolution of 13 September 2024[1].

    However, this resolution, recalling the conclusions of the 19 July 2024 advisory opinion of the International Court of Justice (ICJ), calls on all states ‘to take steps towards ceasing the importation of any products originating in the Israeli settlements’.

    • 1.In light of the UN resolution and the ICJ advisory opinion, does the Commission consider that the EU’s differentiation policy – which merely renders Israeli settlement products ineligible for trade preferences under the EU-Israel Association Agreement – is aligned with paragraph 5(b) of said resolution and paragraph 278 of the aforementioned advisory opinion? And if so, on what basis?
    • 2.Does the Commission consider that Member States are violating international law by continuing to allow the trade of Israeli settlement products within the EU market?
    • 3.How does the Commission plan to move forward with the ban on Israeli settlement products?

    Submitted: 5.5.2025

    • [1] https://www.europarl.europa.eu/doceo/document/E-10-2024-002150-ASW_EN.html
    Last updated: 7 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Fresh protests from European farmers – E-001000/2025(ASW)

    Source: European Parliament

    The Commission is fully aware of the challenges faced by farmers such as the drought conditions in Romania.

    To address these challenges, the Vision for Agriculture and Food presented on 19 February 2025[1] contains an ambitious roadmap and different work streams towards an agri-food system that is attractive, competitive, sustainable and fair for current and future generations, including trade and simplification.

    Trade agreements, like the EU-MERCOSUR Partnership Agreement, strike a balance between both the EU offensive and defensive interests of the agri-food sector.

    Trade agreements open new export opportunities for the EU agri-food sector, to the benefit of EU farmers income. At the same time the EU agri-food sector relies on imports from third countries.

    Moreover, imported products need to fully comply with EU sanitary and phyto-sanitary standards (SPS). These standards include the ban of hormones in cattle raising in both domestic and imported products.

    The current autonomous trade measures[2] for Ukraine include strengthened safeguards setting caps on imports of certain agricultural products from Ukraine. They helped stabilising markets and provide stability and predictability for farmers on both sides.

    Meanwhile, the Commission continues its efforts to simplify the delivery of the current Common Agricultural Policy (CAP) in view of reducing the administrative burden and providing more flexibility to farmers and national administrations. The second simplification package of the current CAP is expected for the second quarter of 2025.

    • [1]  https://agriculture.ec.europa.eu/vision-agriculture-food_en#:~:text=Shaping%20the%20future%20of%20farming%20and%20the%20agri-food,entire%20value%20chain%20within%20the%20EU%20and%20globally
    • [2]  Regulation (EU) 2024/1392 of the European Parliament and of the Council of 14 May 2024 on temporary trade-liberalisation measures supplementing trade concessions applicable to Ukrainian products under the Association Agreement between the European Union and the European Atomic Energy Community and their Member States, of the one part, and Ukraine, of the other part (ELI: http://data.europa.eu/eli/reg/2024/1392/oj).
    Last updated: 7 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Addressing the impact of the Carbon Border Adjustment Mechanism on the wind energy sector – E-000774/2025(ASW)

    Source: European Parliament

    The Carbon Border Adjustment Mechanism (CBAM) puts a carbon price on imports that is equivalent to that paid by EU producers under the EU Emissions Trading System (ETS).

    The CBAM thereby addresses the risk of carbon leakage, which could undermine the effectiveness of EU’s climate objectives. This makes the CBAM an essential tool for achieving a climate-neutral Union at the latest by 2050, in line with the Paris Agreement.

    As announced in the Steel and Metals Action Plan of 19 March 2025, the Commission will make a broad review of CBAM by the end of the year. As part of this review, it will make a first legislative proposal extending CBAM to certain downstream products for which there is a risk of carbon leakage.

    To mitigate the costs and administrative burden of the green transition as envisaged by the EU Green Deal, the Commission has taken measures to support EU industries.

    For instance, the Clean Industrial Deal, presented on 26 February 2025, highlights the importance of clean tech, which includes the wind energy sector, in driving future competitiveness, industrial transformation, and decarbonisation.

    The Clean Industrial Deal alone will mobilise over EUR 100 billion to support clean manufacturing in the EU.

    Further, the Commission presented on 26 February 2025 a package of CBAM simplifications, which will facilitate compliance with reporting requirements and simplify the authorisation of declarants, the calculation of emissions, and compliance with the financial liability.

    MIL OSI Europe News –

  • MIL-OSI Economics: DG Okonjo-Iweala: Broad agreement on WTO reform as “central priority” for MC14

    Source: WTO

    Headline: DG Okonjo-Iweala: Broad agreement on WTO reform as “central priority” for MC14

    “We are now in the midst of one of the largest disruptions in world trade in history,” the Director-General told members.  “But we are also now less than a year away from MC14, and we must think of what we need to do to maximize our chances for success there, including tackling some of the issues thrown up by this trade crisis.”
    Against this backdrop, DG Okonjo-Iweala said, she has spent the past few weeks engaging with members to discuss what might constitute a credible roadmap to MC14, which will begin on 26 March 2026 in Yaoundé, Cameroon.
    The Director-General said members stressed the importance of MC14 sending a clear political message reaffirming the WTO’s relevance and resilience amidst ongoing global uncertainty.  There was also strong support for prioritizing WTO repositioning and reform at MC14, she noted.
    In regard to substance, many members have proposed forward-looking corrective actions to inadequacies in the WTO’s existing rulebook, together with reforms across core functions, including monitoring and transparency, negotiations, and dispute settlement, she said.
    “The present disruption is seen as a vital opportunity to address the system’s weaknesses and reposition the WTO for the future,” the Director-General said.  “We must not waste a crisis.”
    As part of this, workstreams could be established on issues such as dispute settlement reform, how to ensure the current WTO agreements remain dynamic and relevant, and looking at future trade rules so that the WTO remains responsive to evolving needs, the Director-General said. 
    She proposed a phased approach, consisting of a facilitator-led scoping exercise prior to MC14, ministerial guidance at MC14 on actionable steps for moving forward, and post-MC14 implementation within the workstreams, with the view to presenting concrete outcomes for endorsement at the 15th Ministerial Conference or earlier.
    “We must seize this reform opportunity with seriousness and urgency,” the Director-General declared. Members “need to consider not what the organization can do for us, but what we are willing to give up to reform the organization so it can survive and thrive.”
    The Director-General noted other priority areas identified for MC14, including agriculture, the “second wave” of fisheries subsidies negotiations, the e-commerce work programme and moratorium, the incorporation of the Investment Facilitation for Development Agreement and the joint initiative e-commerce agreement into the WTO framework, and development issues.
    On all these issues, a stocktaking of the progress made will take place in July, and by December members “will need to make a clear decision on which negotiating issues are mature enough to be carried forward to MC14, and which are not,” the Director-General said.  “The overarching goal in all this is to enable productive and meaningful ministerial engagement in Yaoundé.”
    Reports from negotiating chairs
    Members received updates from the chairs of the ongoing WTO negotiations on agriculture, fisheries subsidies, trade and development, the establishment of a multilateral system of notification and registration of geographical indications for wines and spirits, trade and environment, and services.
    Reporting in his capacity as Chair of the agriculture negotiations, Ambassador Ali Sarfraz Hussain (Pakistan) noted his consultations with members and the first negotiating group meeting since his appointment as Chair earlier this year.  He said there was “broad recognition” that delivering an outcome on agriculture is “critical for reinforcing the credibility of the WTO” but acknowledged that on substance, “the main positions have not shifted significantly.”
    On the way forward, the Chair said he would first give proponents space to intensify their engagement and then hold targeted meetings with both proponents and non-proponents to explore ways forward. This would be followed by open-ended meetings of the negotiating group, whenever needed, to ensure full transparency and inclusivity.  This could lead to a stocktaking event in late September or early October after which members will collectively assess the progress made and decide on the best path forward, including the nature of any possible outcomes at MC14.
    Reporting in his capacity as the Chair of the fisheries subsidies negotiations, Ambassador Einar Gunnarsson (Iceland) noted that he led a series of bilateral consultations in late March/early April to hear views on the next steps.  In light of this, the Chair said he would organize meetings over the coming weeks to exchange views on the “second wave” negotiations as well as the entry into force and implementation of the Agreement on Fisheries Subsidies, where 14 acceptances are still needed.
    In regard to the former, the Chair said four focused sessions would take place to give members the opportunity to bring a new thinking into the negotiations that could unlock the current stalemate.  Noting that an existing draft text exists which embodies “painstaking negotiation and numerous hard-fought compromises,” the Chair said: “We need not reinvent the wheel … with the right level of engagement and flexibility, meaningful progress remains within reach.”
    Reporting in her capacity as Chair of the negotiations on trade and development, Ambassador Kadra Hassan (Djibouti) noted that work is continuing through the facilitator-led processes in three areas of work: sanitary and phytosanitary measures and technical barriers to trade; technology transfer; and trade-related investment measures.  She also noted the mandate from ministers at MC13 to continue work on the application of special and differential treatment provisions under various WTO agreements.  With MC14 drawing closer, the Chair called for “further flexibility, creativity and pragmatism from all delegations” in order to achieve outcomes.
    Ambassador Alfredo Suescum (Panama), Chair of the negotiations on the multilateral register for wines and spirits, said that no new proposals have been submitted and that members’ underlying positions remain unchanged. Ambassador Eunice M. Tembo Luambia (Zambia), Chair of the negotiations on trade and environment, said that her consultations with members made clear that WTO members “have no appetite to engage in negotiations on this topic at this time.” 
    Ambassador Adamu Mohammed Abdulhamid (Nigeria), Chair of the services negotiations, said he was in the process of consulting with members on the way forward in view of the built-in mandate to improve schedules of commitments, as well as the call by ministers at MC13 to reinvigorate work. 
    General Council Chair report on informal consultations
    The Chair of the General Council, Saqer Abdullah Almoqbel (Saudi Arabia, Kingdom of), reported on his recent informal consultations with members to explore the nexus between the current economic climate and its impact on the multilateral trading system.
    The assessment is clear, the Chair said: “The situation is challenging, but our resolve must be stronger. There is a firm belief that the WTO and the rules-based multilateral trading system it embodies must remain a cornerstone of our collective response to the challenges. Indeed, many members see this as an opportunity for the WTO to reaffirm its relevance and proactively address the current situation.”
    The Chair said he was considering convening an informal information session at the level of heads of delegations. This would start with a factual presentation on the current situation by WTO economists followed by a forward-looking exchange among heads of delegations on steps the WTO could take to address these impacts, particularly for the most vulnerable economies.

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    MIL OSI Economics –

  • MIL-OSI Economics: WTO members discuss pathways for sustainable agriculture in global trade

    Source: World Trade Organization

    In her opening remarks, Director-General Ngozi Okonjo-Iweala said that sustainable agriculture remains at the core of the WTO’s work and of critical importance to all members.

    “Agriculture is not merely another sector. It is the backbone of many economies, a huge employer in many countries, the lifeblood of rural development and the foundation of food security and nutrition. No society can be stable economically, financially or socially if its people are unable to reliably access affordable and nutritious food,” she said.

    The Chair of the General Council, Ambassador Saqer Abdullah Almoqbel of Saudi Arabia, underlined the importance of the retreat as the world stands at a critical juncture in global development.

    “With the world’s population expected to exceed 10 billion by 2050, the demand for food and resources is increasing exponentially. The intersection of trade and sustainable agriculture has never been more essential. It is key to achieving global food and livelihood security, promoting rural development, fostering economic growth and building environmental resilience,” he said.

    Experts from international and regional organizations shared insights on the foundational elements of sustainable agriculture, helping WTO members over the two-day retreat to engage, understand key issues, and appreciate diverse local and regional contexts.

    Takeaways from the retreat and suggestions from the chair will be circulated to members in the coming days.

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    MIL OSI Economics –

  • MIL-OSI Australia: Interview with ABC News Breakfast

    Source: Australian Attorney General’s Agencies

    James Glenday, Host: On federal politics, Don Farrell joins us now from Parliament House. Don, good morning and welcome back to News Breakfast.

    Trade Minister, Don Farrell: Good morning, James.

    Glenday: On the final sitting day, could you have imagined returning to Canberra knowing that you’d knocked off the Liberal Party’s leader, Peter Dutton, and the leader of The Greens, Adam Bandt as well?

    Minister Farrell: Well, the truth is, James, I don’t think anybody could have predicted that. I was confident, based on the work that we’d done over the previous three years, especially in my space, of trade, that we would be returned and returned with a majority. But even I couldn’t believe the results as they came in on Saturday night. I think the Greens have suffered because so many times in the last Parliament they blocked sensible policies of the Albanese Government. They voted with the Coalition in the Senate to block, for instance, legislation on housing, sensible housing policy, and I think they’ve paid the political price for that.

    Glenday: This outcome must be deeply satisfying for you. Personally, I just wonder, have you ever felt so satisfied after an election win? Where does this rank? Is it the sweetest victory, almost a fairytale for Labor?

    Minister Farrell: Look, it doesn’t, doesn’t get any better than this, James. When you’ve been involved in politics as long as I have, this has to be the sweetest victory of all.

    Glenday: There you go. Now there’s a trade war happening. I’m not sure where you’re going to end up, but if you are reinstalled as Trade Minister, you’ll have a lot on your plate. Do you know where you’ll head?

    Minister Farrell: First of all, look, we’ve got a number of objectives that we will need to prosecute and prosecute very quickly. On election night I got messages from my European colleagues, they’re very keen to re-engage and have another crack at an EU free trade agreement. The EU has 450 million people, and a $17 trillion economy. They’ll be very important if we can get a breakthrough there. The Indians also contacted me. We were very close to a new free trade agreement with them and I think we can move very quickly now to finalise that agreement. And of course, in the next few weeks, our new free trade agreement with the United Arab Emirates, which sends all of our products into the UAE tariff free, will come into force and that will be important. And of course we, we want to continue discussions with the United States. We believe in free and fair trade and that’s the argument we’ll be prosecuting with them.

    Glenday: I think it’ll be closely watched. Do you expect to head to either China or to the States first?

    Minister Farrell: Look, we’ll worry about that after we know who the new Trade Minister is next week.

    Glenday: That’s fair.

    Minister Farrell: But we will move very quickly to ensure that Australia’s interests are protected here. China, of course, is our largest trading partner. We’re concerned about the tariff war between China and the United States. We believe in free and fair trade and we think that those tariffs should be removed on China.

    Glenday: Okay. You are a factional leader of the Labor right. You were once unkindly referred to as a faceless man. Of course you do have a face. And here you are speaking to us. What are you asking the Prime Minister for though? You’ve got a lot of influence as these Ministerial portfolios are carved up.

    Minister Farrell: A face that a mother could love. And they do call me other things too, by the way. That’s not the only thing they call me. Look, I’m not going to give the Prime Minister any advice on what he should do. He’s won a fabulous victory here. He ran a flawless campaign. His strategy throughout the whole of the last term was about getting reelected and continuing the policies that we took to the election. I’m very happy to leave it all to him and to accept whatever he might wish me to do in the new government.

    Glenday: Ok, just before I let you go, I want to get you on an international issue that’s been developing. Has the Albanese government made any contact with India or Pakistan regarding these cross border strikes we’re seeing?

    Minister Farrell: Look, that’s an issue of course, that is in the hands of our very competent and successful Foreign Minister, Penny Wong. But of course we don’t want to see any conflict in our region. We’d like to see an end to the conflict in the Middle East, the conflict in Ukraine, Russia, and we certainly don’t want to see any conflict in our own region.

    Glenday: And Don, just one last one. We saw smoke this morning from the Vatican. You went to the Pope’s funeral. I’m not sure what that was like, but do you have a personal preference of who the next Pope should be or the direction of the Catholic Church? I’m guessing this is outside the bounds of your factional influence.

    Minister Farrell: Well, as a matter of fact, James, I do have a personal favourite in the Conclave at the moment. And that is the Australian – Ukrainian Cardinal, Cardinal Bychok. I was lucky enough to meet with him twice while I was in Rome. He’s a very, very fine man. A very holy man. I’d like to see him as the next pope. My wife, on the other hand, who’s Filipino, she would like to see Cardinal Tagle as the next pope. And we also had the opportunity of meeting him at the Vatican. So, there’s a couple of candidates for you, James.

    Glenday: There you go. Well, we’ll have to wait and see if you’ve backed a winner there, Don Farrell, the Trade Minister. Perhaps the continuing Trade Minister. We’ll wait and see for that as well. Thank you so much for joining News Breakfast this morning.

    Minister Farrell: Thanks, James.

    MIL OSI News –

  • MIL-OSI Australia: Doorstop, Canberra

    Source: Australian Attorney General’s Agencies

    Journalist: Thank you for joining us. Congratulations on Labor’s win. Firstly, it’s removed two leaders, Peter Dutton and Adam Bandt, at the last count. How are you feeling about the landslide?

    Trade Minister, Don Farrell: Well, very positive. I think it’s a very positive endorsement of Prime Minister Albanese and the flawless campaign that he ran. He had a vision for Australia. I don’t think any of the other candidates from the other parties had that vision. I think the Australian people have now overwhelmingly endorsed Anthony Albanese’s vision for the future of Australia.

    Journalist: And the Labor caucus will meet here tomorrow. Will you remain as Trade Minister?

    Minister Farrell: Look, that’s entirely in the hands of the Prime Minister. I’ll be putting myself forward this afternoon and tomorrow for the ministerial positions. What job I get in that new ministry will be entirely in the hands of the Prime Minister. Obviously, I really like the job as Trade Minister and I’d like to continue. But I’m happy to serve Prime Minister Albanese in any way he thinks I should.

    Journalist: I believe you are safe. That has been confirmed as the leadership team will stay the same. Where would your first trip be?

    Minister Farrell: Well, that’ll be up to the Prime Minister. I know he has some plans to visit some countries and I’d be very happy to go with him if he wanted me to do that. On election night, I got messages from both the Europeans and the Indians indicating that they’re very keen to continue with the discussions to get free trade agreements. Obviously, we’ve got the UAE free trade agreement coming up in a few weeks that will allow all Australian products to go into the UAE tariff-free. So, we’re in the business of supporting free and fair trade and arguing wherever we can that the best interests of Australia and the rest of the world is served by free and fair trade.

    Journalist: How are we going securing a tariff carve out with the Trump administration?

    Minister Farrell: Look, we’re continuing to prosecute that argument. Obviously, we’ve been in caretaker mode for the last five weeks, but our Ambassador, of course, Kevin Rudd, is doing a really good job in the United States prosecuting the argument on our behalf and will continue to do that.

    Journalist: And a difficult time between the United States and China, are we making any headway? How do you plan to tackle that relationship going forward?

    Minister Farrell: Our argument is very simple. The way to prosperity is through free trade. Tariffs are the wrong way to go and I think we’ll quickly see in the United States that inflation goes up, unemployment goes up and the share market goes down. None of those are good for working people. We want to prosecute the argument with the United States with China that tariffs are not the way to go and both countries should remove their tariffs. Thank you.

    Journalist: Thank you very much.

    MIL OSI News –

  • MIL-OSI New Zealand: Pre-Budget speech to BusinessNZ

    Source: NZ Music Month takes to the streets

    Good afternoon everyone. 

    Today my intention is to put this year’s Budget in context. 

    First, I want to speak briefly about our economic recovery here at home, and why I remain confident despite international uncertainty. 

    Then I’m going to make the case for the two big priorities of Budget 2025, fiscal consolidation and economic growth: why they matter and some steps we’re taking to make them happen.

    It’s fair to say Budget 2025 arrives against a challenging international backdrop. 

    Trade tensions overseas have seen growth forecasts revised down across the world, as exporters and consumers come under sustained pressure. 

    The sharp deterioration of financial markets in early April have somewhat recovered in recent days and weeks, but markets remain volatile. 

    Experts offshore are leaning into the uncertainty. 

    The Bank of Canada even chose to publish two separate scenarios in their latest statement, instead of one single set of forecasts.

    I don’t blame them for having a bob each way. 

    For a small, open economy like New Zealand, the international environment clearly matters a lot, but I remain confident about our recovery. 

    Inflation remains anchored below 3 per cent, and interest rates continue to fall, supporting households with the cost of living and providing the foundation for a domestic economic recovery. 

    The Official Cash Rate has fallen considerably, from 5.5 to 3.5 per cent, with economists picking further cuts are on the way soon. 

    I acknowledge for households, interest rate relief will be a slow and steady process.  

    For example, according to the Reserve Bank, average interest rates on outstanding mortgages have only now fallen for just 4 months in a row, having previously risen for 37 months in a row. 

    The good news is that financial relief for households will keep rolling, with around $60 billion of mortgages set to roll-over in just the next three months. 

    In short, the trend is our friend, even if I know many families and businesses won’t be feeling that relief quite yet. 

    At the same time, an export-led recovery is now well underway in regional New Zealand. 

    Dairy prices are strong, despite global headwinds, supporting farmers to pay down debt and put more money back into rural communities. 

    Fruit exports are booming, hitting $5 billion in value in the 12 months to March, driven by a big jump in kiwifruit sales. 

    The tourism industry is also growing rapidly, with visitor numbers continuing to recover, now hitting 86 per cent of pre-COVID levels. 

    Total tourism expenditure was up 23 per cent in 2024.

    It’s not surprising then that the recovery is looking brighter in regional New Zealand, and the South Island in particular.     

    Just last week Westpac highlighted that in Otago, Canterbury, and Southland, consumer confidence and growth in retail activity is outpacing the rest of the country. 

    Our government is working hard to support that rural recovery. 

    A steady diet of pro-growth deregulation, a strong focus on RMA reform, and fresh efforts to break into new markets offshore are highlights of that agenda so far. 

    We know the difference quality trade agreements can make to our growth prospects. For example, in the 12 months since the EU FTA came into force, exports to the European Union grew by 25 per cent.

    For exporters, that’s worth an additional $1 billion. 

    Whether it’s CER, the CPTPP, the China, UK, or more recent UAE and GCC FTAs, our farmers and exporters are blessed by a latticework of trade agreements, negotiated successively by Ministers and diplomats over many years.

    Clearly India will be an important next step, and it was positive to see Minister of Trade Todd McClay announce on Monday that the first formal round of FTA negotiations kicked off this week. 

    That brings me to this year’s Budget.

    It won’t surprise you to learn that lifting New Zealand’s long run economic performance has been our primary focus in designing Budget 2025. 

    Yes, that has shaped decisions we have made on individual initiatives, some of which I’ll touch on shortly. 

    But our fiscal strategy, including our desire to return to surplus, and the wider impact on inflation, interest rates, and growth has also been front of mind. 

    You might have seen Nicola Willis announce last week that this year’s operating allowance would be smaller than previously signalled, at just $1.3 billion. 

    That will be the smallest operating allowance in a decade and ensures Treasury can still forecast a surplus within the next four years. 

    That was the right decision for several reasons. 

    First, it represents a fresh commitment to necessary fiscal consolidation. 

    In recent years, New Zealand has been living beyond its means and that has come at a significant cost. 

    Since 2017, net core Crown debt has risen by around $120 billion.

    Put another way, that’s $60,000 in additional debt for every household in New Zealand. 

    As a proportion of the economy, debt has ballooned from just 21.6 per cent of GDP in 2017, to around 43 per cent of GDP today, higher than it has been at any time since the 1990s. 

    At the same time, the cost of servicing our national debt has more than doubled, from $3.5 billion in 2017, to almost $9 billion today.

    In some areas, spending more is the right thing to do. 

    In health, education, law and order, defence, and transport my government is prioritising significant new investments. 

    Each of those areas are a priority for New Zealanders and they require more funding to deliver the quality services Kiwis expect. 

    But that comes with trade-offs.  

    Spending more on everything, as some commentators have called for, would mean larger deficits, more debt, and ultimately fewer choices in future budgets as the cost of servicing our debt grows even larger and the prospect of returning to surplus evaporates. 

    Managing and responding to critical risks is also more challenging with high levels of public debt. 

    New Zealand was well served in the Global Financial Crisis, following the Christchurch Earthquake, and during COVID because successive Ministers of Finance made difficult choices to ensure New Zealand had low levels of public debt. 

    Our responsibility is to do what we can to leave a similar inheritance for future administrations. 

    Second, a smaller allowance supports lower interest rates and stronger business activity. 

    Sadly, recent experiences have forced us to re-learn the fundamentals of economics, including the reality that if governments borrow and spend too much, interest rates are forced higher to compensate, putting pressure on family budgets and private sector activity. 

    The good news is that the converse is also true. 

    More restrained fiscal policy supports interest rates to remain low, enabling businesses to grow and families to get ahead under their own steam. 

    ANZ’s initial estimate last week was that the smaller operating allowance would support interest rates being 5-10 basis points lower than otherwise. 

    Meanwhile, Treasury has estimated that with a tighter budget package, interest rates would be up to 30 basis points lower by the end of the forecast period. 

    For a family with a mortgage, or a farmer or entrepreneur taking on debt to grow their business, that means real financial relief and more opportunity to get ahead. 

    Careful spending, low interest rates, and robust private sector growth sits at the very heart of our government’s economic strategy, as we create jobs, boost exports, lift incomes, and promote innovation and investment.

    Prudent fiscal management also supports our economic reputation offshore. 

    For a small-open economy like New Zealand that’s critical. 

    It means we can borrow more affordably when we have to, and guarantees that even in periods of global turmoil, we are a trusted destination for trade and investment. 

    Third, the smaller operating allowance was the right call because keeping our word matters.  

    Nicola Willis has been consistent in her commitment to deliver a path back to surplus and to maintain debt at prudent levels. 

    Conditions can and do change, but it is a credit to her that Budget 2025 demonstrates a return to surplus, despite a challenging global backdrop.  

    That’s the result you expect when you anchor Budget decisions in your fiscal strategy, instead of allowing the pressures of the day to drag you off course. 

    I know there are some commentators calling for larger allowances and more spending. 

    They need to be honest that those decisions will mean more debt, more deficits, and an indefinite delay to New Zealand’s return to surplus. 

    More debt and more deficits is a fiscal strategy – but for a small, internationally-exposed country like New Zealand, it’s also an incredibly risky one. 

    At the same time, just as grey clouds bring silver linings, even tight Budgets present opportunities. 

    In Budget 2025, we will be taking further steps in our long-term mission to lift economic growth and boost productivity.  

    Earlier this year, we published our Government’s Going for Growth Agenda, which outlines a range of actions we are taking to get the New Zealand economy moving and realising its vast potential.

    Each of those actions fits into one of five pillars we have identified as critical to lifting economic growth and improving New Zealanders’ standard of living:

    Developing talent,
    Encouraging innovation, science, and technology,
    Introducing competitive business settings,
    Promoting global trade and investment,
    And delivering infrastructure for growth.

    Each of those pillars will have strong representation in Budget 2025. 

    Today I want to touch on just a few of them – and some small steps we are taking to underpin our growth mission. 

    Encouraging science, innovation, and technology is one of those key pillars. 

    In January at my State of the Nation, I spoke briefly about our vision for the sector. 

    I want to see a much sharper focus on commercialisation, stronger ties to the business community, and rapid access to ideas and innovation from overseas. 

    Capital investment will be critical to our growth journey, but New Zealand won’t achieve a step-change in our living standards if we invest more but continue to lag behind the global technological frontier. 

    In Budget 2025, we will be allocating the funding we need to give effect to the changes I announced earlier this year, including the establishment of three new Public Research Organisations. 

    I also know that following a review of the Research and Development Tax Incentive that kicked off last year, the business community has been looking for some certainty on the future of the programme.

    That review was required in law, and the final report has not yet been tabled in Parliament. 

    However, I can confirm today that we are retaining the RDTI in this year’s Budget so businesses have the certainty they need to keep investing and keep going for growth.

    Promoting global trade and investment has also been a focus of my government in 2025, even before the recent bout of uncertainty offshore. 

    As I said earlier, part of that task has been to bring fresh energy to New Zealand’s proud history of achieving trade agreements offshore, with Minister of Trade Todd McClay finalising two new trade agreements in the Middle East, while we continue to work hard towards a trade agreement with India. 

    But promoting New Zealand as an attractive destination for investment, and a shelter from the global storm, has also been a personal focus of mine. 

    In March, the government hosted an Investment Summit here in Auckland, with attendees representing an estimated $6 trillion in capital, as we showcased opportunities to partner with the Crown, Iwi, and the private sector.

    We are seeing some real progress, including an outstanding deal worth around $1 billion signed by Waikato Tainui and Brookfield Asset Management to further develop the Ruakura Inland Port.

    But of course, I want to see more. 

    Yes, that means getting the structural settings right, including rewriting the Overseas Investment Act, so major investments from offshore are consented faster and more reliably. 

    But for small countries – who have to compete hard for share of mind and share of wallet – we also need a team of national champions constantly making the case for New Zealand as an outstanding place to do business. 

    In January, I announced that team would be led by Invest NZ, an entity specifically responsible for attracting investment to New Zealand, and providing the critical concierge services that have allowed other countries like Ireland and Singapore to punch above their weight. 

    I can confirm today that funding will be allocated for Invest NZ in Budget 2025, ensuring they can crack on and get the job done. 

    Modern, reliable infrastructure – and my government’s efforts to deliver more of it to communities right across the country – will also play a major role in our Going for Growth plan.

    It’s why capital expenditure, including for frontline services like health and education, will be a priority in Budget 2025. 

    As I acknowledged earlier, the operating allowance in this year’s Budget will be a little smaller than previously signalled. 

    However, total capital expenditure allocated in the Budget is a little higher than forecast at $6.8 billion – split across health, education, defence, transport, and other portfolios. 

    When that is offset by savings identified in this year’s budget, it means the net capital allowance is $4 billion, compared to $3.6 billion previously signalled in the Budget Policy Statement. 

    For businesses, that investment represents an opportunity to develop critical skills and capability, promoting growth for many years to come. 

    For Kiwis, it will mean another big investment in the quality frontline services, like health and education, they deserve. 

    The two remaining pillars, our efforts to develop talent and to promote competitive business settings, will also feature prominently in the Budget, but I won’t be making be making announcements in those areas today.

    However, as Nicola Willis confirmed last week and I can confirm again today, there will be a small number of measures in this year’s Budget designed to make it easier for businesses to invest, whether they are based here or offshore.

    If we really want to create high-paying jobs, lift incomes, and make New Zealand a hub for innovation and investment, we need to make our business environment much more attractive. 

    I’m optimistic that Budget 2025 will take some positive steps in that direction. 

    The Minister of Finance was right last week to say Budget 2025 won’t be a lolly scramble.

    It’s not that we can’t afford it, although frankly we can’t. 

    It’s not that it wouldn’t feel good, because it might, for a little while. 

    No, it’s that we have a responsibility to stay disciplined and keep our eyes on the prize. 

    So far, we’re making real progress.

    Inflation is down, interest rates are falling, exports are rising, and the economy is growing. 

    For many New Zealanders, the prospect of a growing economy and rising incomes means a real shot at getting on top of the cost of living. 

    Now is not the time to put that risk. 

    In Budget 2025 that means staying focused, getting back to surplus, and maintaining a relentless focus on economic growth. 

    But for Kiwis, it’s about more than just the dollars and cents. 

    Lower inflation means less stress and less heartbreak, as prices stop skyrocketing and families finally stop falling behind. 

    Lower interest rates means a house becomes a home, not a source of pain and frustration as mortgage repayments crush weekly budgets. 

    And more economic growth means thriving local businesses, higher wages, more jobs, and ultimately more money in your back pocket.

    It means a chance to get ahead and beat the cost of living.  

    And it means we can have confidence that our best days lie ahead.

    New Zealand is the best country on Planet Earth.

    With the right choices, I think we can make it even better. 

    Thank you.

    MIL OSI New Zealand News –

  • MIL-OSI: MoneyMutual Under Review: Best Bad Credit Loan Provider for Short-Term Fast Cash Advance by Money Mutual

    Source: GlobeNewswire (MIL-OSI)

    Las Vegas, May 07, 2025 (GLOBE NEWSWIRE) —

    In This Article, You’ll Discover:

    • Why millions of Americans face rejection from traditional lenders due to bad credit, and the real-world consequences of poor credit scores
    • How Money Mutual connects borrowers with a trusted network of short-term loan providers for fast cash advances
    • The exact step-by-step process to apply for a bad credit loan through the MoneyMutual platform
    • Key features and benefits that make Money Mutual the best bad credit loan provider in 2025
    • Transparent insights into loan terms, lender practices, and security protections
    • Common use cases include rent emergencies, medical expenses, car repairs, and more, as well as what to consider before borrowing.
    • Disclaimers on medical and financial topics to ensure responsible borrowing decisions
    • Real user experiences and what you can expect when applying for a cash advance online through MoneyMutual
    • Frequently asked questions about bad credit loans, loan approvals, repayment terms, and state availability.
    • A final verdict on whether MoneyMutual is the right short-term loan solution for your situation

    TL;DR Summary

    MoneyMutual is widely considered one of the best bad credit loan providers in 2025, offering a fast and secure way for borrowers to connect with short-term lenders, even if they have poor or no credit. Through its online loan marketplace, MoneyMutual simplifies the application process and gives users access to a vast lender network ready to offer payday loans, installment loans, or fast cash advances in urgent situations.

    This article explores why borrowers with low credit scores often face barriers in traditional finance and how MoneyMutual helps address these challenges. We walk through how the loan process works, what fees and terms to look for, and how MoneyMutual maintains user privacy and security.

    With embedded disclaimers for medical and financial content, pricing transparency reminders, and practical use cases from rent payments to car repairs, this in-depth review helps you make an informed decision.

    Whether you’re navigating an emergency expense or seeking a more inclusive financial solution, this article will guide you step by step through what makes MoneyMutual a standout in the short-term lending space.

    Financial Emergency? Here’s a Trusted Solution

    Introduction to the Modern Financial Crisis

    In today’s fast-paced world, financial stability can feel increasingly out of reach. Rising housing costs, unpredictable job markets, healthcare expenses, and student loan debt are just a few of the daily realities pushing Americans closer to the edge. For many, a single unexpected bill or emergency expense can create a serious shortfall, especially if traditional lending options are unavailable due to credit score issues.

    Unfortunately, millions of people in the United States are denied personal loans simply because of a low credit score. Banks and credit unions tend to favor borrowers with excellent credit, leaving the rest scrambling for alternative funding solutions. This is especially frustrating when the need is urgent, such as rent, utilities, medical co-pays, or car repairs.

    If you’ve ever found yourself in this situation—pressing financial need and limited credit options—you’re not alone. But there is a solution tailored for individuals facing these challenges.

    MoneyMutual is an online loan marketplace that specializes in helping people find short-term loans, even if they have a bad credit history. By connecting borrowers with a network of trusted lenders, MoneyMutual provides an opportunity to get fast cash advances, often with same-day or next-day funding.

    This article is designed to help you understand exactly how MoneyMutual works, what makes it stand out in the world of bad credit loans, and how it might offer a financial lifeline during your time of need. We’ll cover everything from the emotional weight of financial stress to how MoneyMutual simplifies the borrowing process in a secure, user-friendly way.

    Disclaimer: MoneyMutual is not a direct lender and does not issue loans. This article is for informational purposes only and should not be considered financial advice. Always consult a qualified financial professional regarding your unique circumstances.

    Understanding the Pain: Why So Many Struggle with Bad Credit

    The Hidden Weight of a Low Credit Score

    For millions of Americans, financial challenges aren’t just occasional—they’re chronic. A low credit score can feel like a permanent roadblock, one that follows you into every financial decision. Whether you’re applying for an apartment, securing a mobile phone plan, or seeking a loan to handle an emergency expense, your credit report becomes the gatekeeper.

    But how did so many end up here? For most people, bad credit isn’t the result of irresponsible behavior—it’s often caused by life events outside of their control. Medical emergencies, job loss, sudden rent increases, divorce, or simply living paycheck to paycheck can send a credit score into a downward spiral.

    Key reasons why credit scores drop include:

    • Missed or late payments due to income gaps
    • Over-reliance on credit cards in times of need
    • Unexpected emergencies that require borrowing without immediate repayment ability
    • Limited credit history for younger borrowers or immigrants
    • High debt-to-income ratios that trigger score penalties

    The truth is, a bad credit score doesn’t reflect your character—it reflects your circumstances. And unfortunately, traditional banks and credit unions rely heavily on these scores when making decisions. That means people with poor credit are routinely denied access to affordable financial tools—even when they’re trying to recover and rebuild.

    This cycle creates a painful paradox: you can’t get a loan because your credit is poor, but you can’t improve your credit without responsible borrowing and repayment. It’s here that alternative lending options step in as a bridge, particularly platforms like MoneyMutual that offer fast, practical access to bad credit loans from vetted short-term loan providers.

    The Emotional Toll of Being Denied Financial Help

    Beyond the numbers, the emotional weight of repeated loan denials can’t be ignored. Financial stress is one of the leading causes of anxiety, depression, and tension within families. The feeling of being trapped—with bills piling up and no clear way out—can be paralyzing.

    People don’t just need money. They need dignity, speed, and trust. They want to know that someone is willing to give them a second chance, without judgment or red tape. That’s why platforms like MoneyMutual are gaining traction—because they’re structured to meet people where they are, not where the system thinks they should be.

    Disclaimers for Responsible Use

    MoneyMutual is not a credit repair service or a guaranteed approval platform. It connects borrowers to lenders who may be able to offer short-term financial support. Borrowers should review all loan terms thoroughly and borrow responsibly. This article does not constitute financial advice.

    Facing a cash emergency? Get matched with trusted lenders in minutes—apply through MoneyMutual now and access up to $5,000 fast, even with bad credit!

    What Is Money Mutual? A Complete Breakdown

    The Marketplace That Changed the Lending Game

    When you’re in need of fast funding and traditional lenders have turned you down, the search for a safe, trustworthy, and efficient loan solution can feel overwhelming. This is where Money Mutual stands out as a top-rated online loan marketplace specifically designed to help people with bad credit find short-term financial relief, without unnecessary delays or red tape.

    Unlike traditional banks or payday storefronts, Money Mutual doesn’t issue loans itself. Instead, it functions as a secure online platform that connects borrowers with a large network of lenders who are willing to work with individuals in urgent financial situations, even if they have a low credit score or no credit history at all.

    How Money Mutual Works

    The core of MoneyMutual’s value lies in its simplicity. The process is structured to be fast, accessible, and transparent:

    • Step 1: Submit a secure request form online. The platform asks for basic financial and personal information to match you with potential lenders.
    • Step 2: Review loan offers. Based on your input, you’re connected with lenders who are likely to approve your request. You can then review the terms of any offers, including the loan amount, fees, and repayment schedule.
    • Step 3: Accept and receive funds. Once you agree to a loan offer, the lender will disburse funds, often as quickly as the next business day.

    This streamlined system eliminates the need for lengthy interviews or in-person credit checks. In many cases, the process from application to funding takes less than 24 hours.

    Key Features That Set MoneyMutual Apart

    • Wide Lender Access: With over 60 lenders in its network, MoneyMutual offers access to a competitive marketplace.
    • No Upfront Fees: Using MoneyMutual to submit a loan request is completely free to the consumer.
    • No Credit Discrimination: Borrowers with bad credit, limited credit history, or prior loan denials can still find funding options.
    • Fast Turnaround Times: Some borrowers report same-day approval and funding by the next business day.
    • Fully Online Platform: There are no storefronts or paperwork—everything is handled securely online.
    • Data Encryption & Privacy: The platform uses bank-level encryption to ensure your personal and financial data stays protected.

    Disclaimer: MoneyMutual is not a lender and does not make credit decisions. It simply connects you to third-party lenders who make the final decision on loan offers and terms.

    Transparency and User Control

    One of the biggest advantages of MoneyMutual is that it gives borrowers control and visibility before they commit. Each lender outlines their own repayment schedule, fees, and terms, and borrowers are encouraged to take their time reviewing offers.

    There’s no obligation to accept a loan once you’re connected with a lender.This empowers consumers to make informed decisions based on what’s realistic for their income and repayment ability.

    Pricing & Offer Variability

    Because MoneyMutual works with a range of lenders, pricing and interest rates will vary from one offer to another. Factors that affect your loan terms may include:

    • The amount requested
    • State-specific regulations
    • Your income and employment history
    • The lender’s own underwriting policies

    Disclaimer: All loan terms, fees, and APRs are determined by the lender you choose. For the most accurate and updated pricing information, please visit the official MoneyMutual website. Pricing is subject to change at any time.

    Need rent or car repair help today? MoneyMutual connects you with real lenders ready to fund—start your free application now and get cash as soon as tomorrow!

    The Short-Term Loan Process Explained: Step-by-Step

    A Simple, Fast, and Transparent Application Journey

    Applying for a short-term loan can feel daunting, especially if you’ve been rejected before or have never used an online loan service. That’s why Money Mutual has focused on streamlining the borrower experience to ensure that users can access funds quickly, without sacrificing security or clarity.

    Let’s walk through the entire loan application process, from beginning to end, so you’ll know exactly what to expect.

    Step 1: Complete the Secure Online Request Form

    The process begins with a short, easy-to-complete form on the official MoneyMutual website. You’ll provide basic information such as:

    • Full name, address, and contact details
    • Employment status and income level
    • Banking information for direct deposit (used only if a loan is funded)
    • Desired loan amount and purpose (optional but helpful for lenders)

    The entire form is encrypted and protected by bank-grade security protocols, ensuring your information remains confidential.

    Step 2: Get Matched With Lenders

    Once your request is submitted, MoneyMutual uses its algorithm to connect you with one or more lenders in its private network who may be willing to extend an offer, regardless of your credit score. Unlike traditional lenders, these third-party providers often specialize in bad credit loans and understand the urgency behind short-term funding needs.

    If a match is found, you’ll be redirected to that lender’s offer page to review the proposed terms.

    Step 3: Review Your Loan Offer Carefully

    This is where transparency matters. Each matched lender provides you with detailed loan terms, including:

    • Loan amount
    • Estimated APR (Annual Percentage Rate)
    • Repayment schedule (e.g., due on your next payday or spread over several weeks)
    • Applicable fees and conditions

    You are under no obligation to accept any offer. If it doesn’t work for your situation, you can walk away without penalty.

    Disclaimer: MoneyMutual does not dictate or set loan terms. The lender you are connected with will determine the details of any potential offer.

    Step 4: Accept the Offer and Receive Funds

    If you choose to accept the loan offer, you’ll finalize the agreement directly with the lender, usually electronically. Most lenders provide fast funding, and in many cases, funds are deposited into your account by the next business day.

    Some borrowers have even reported same-day funding depending on when they submitted their request and how quickly the lender processed it.

    Step 5: Repay the Loan Based on the Agreed Terms

    Repayment is handled directly between you and the lender. Payments are typically debited from your bank account on the due date(s) outlined in your agreement. Many lenders offer flexible schedules and early repayment options.

    Borrower Tip: Read the Fine Print

    Before signing, always take time to read and understand the full loan agreement. Look for:

    • Late payment fees
    • Early repayment policies
    • Automatic renewal or rollover clauses

    These details affect the total cost of borrowing and can help you avoid surprises down the line.

    Disclaimer: Interest rates, repayment terms, and other conditions vary by lender and are subject to change. For current details, always check the official MoneyMutual site and the lender’s terms directly.

    Don’t let bad credit hold you back—MoneyMutual’s free service helps you find emergency loans fast. Apply now and get the financial relief you deserve!

    Why Money Mutual Is the Standout Choice

    What Sets It Apart From Other Bad Credit Loan Platforms

    When facing a financial emergency, your choice of lender—or loan marketplace—can significantly impact both your short-term relief and your long-term financial health. While many websites advertise quick cash loans or bad credit funding, few offer the transparency, ease-of-use, and borrower-first approach that MoneyMutual brings to the table.

    Here’s why MoneyMutual is consistently recognized as a top choice for bad credit loan solutions in 2025.

    A Trusted Network of Lenders

    MoneyMutual has built a reputable and vetted lender network that focuses specifically on consumers with limited credit options. Unlike sketchy loan sites or spam-heavy platforms, MoneyMutual only connects borrowers to legitimate lenders who follow compliance standards.

    With over 60 providers in its network, the platform allows you to compare offers and choose the best one, empowering you to make informed financial decisions, even when your credit score is less than ideal.

    No Fees to Use the Platform

    One of the most user-friendly aspects of MoneyMutual is that it’s completely free to use. You’ll never be asked to pay a fee to submit your loan request or access lender matches.

    Instead, MoneyMutual earns from its relationships with lenders, not borrowers, ensuring that you’re not charged simply for trying to get help.

    Disclaimer: While MoneyMutual doesn’t charge users, individual lenders may charge fees based on loan terms. Always review these terms before proceeding.

    High Approval Potential for Bad Credit Borrowers

    Traditional banks typically require strong credit scores and lengthy application processes. In contrast, MoneyMutual connects borrowers to lenders who understand that your score doesn’t always reflect your current ability to repay.

    With fewer barriers and no hard credit inquiry required to start, your odds of receiving a loan offer through MoneyMutual are significantly higher than through conventional lending channels.

    Even applicants with sub-600 credit scores, limited credit history, or recent financial hardship can often find same-day or next-day funding options.

    Lightning-Fast Turnaround Times

    In an emergency, time matters. That’s why many borrowers turn to MoneyMutual: the process from submission to funding can take as little as 24 hours.

    After you’ve been matched with a lender and approved, funds are typically deposited directly into your bank account, so you can handle urgent expenses like rent, car repairs, or overdue bills without delay.

    Full Transparency in the Loan Process

    Unlike other platforms that push aggressive marketing or bury loan terms in fine print, MoneyMutual ensures that:

    • You receive clear terms before accepting any loan
    • You’re free to walk away at any point before finalizing an agreement
    • There’s no obligation to accept any lender’s offer

    This level of transparency is one of the reasons Money Mutual consistently ranks among the best online marketplaces for bad credit loans.

    Disclaimer: All loan terms, fees, repayment periods, and interest rates are determined solely by the lender. For the most accurate and up-to-date information, visit the official Money Mutual website.

    Built for Mobile, Built for You

    In a mobile-first world, accessibility matters. Money Mutual’s platform is fully optimized for mobile and tablet users, making it possible to apply and respond to lender offers on the go. Whether you’re at work, at home, or in between, you’re never out of reach from the loan support you need.

    Apply today with MoneyMutual and skip the bank hassle—fast, secure, and 100% online access to lenders offering short-term loans with no upfront fees!

    Common Use Cases: Real Financial Relief

    Everyday Emergencies That Demand Quick Action

    One of the reasons MoneyMutual has become such a popular choice for borrowers is its ability to meet people where they are—at the intersection of urgency and limited credit options. Life doesn’t wait for a loan approval from a traditional bank. And when cash is tight, even minor disruptions can turn into full-blown crisis.

    MoneyMutual provides a streamlined way to obtain short-term loans that can help manage the most common—and often stressful—financial situations.

    Rent and Utility Bills

    Missing rent by just a few days can lead to eviction warnings or late fees. Similarly, unpaid utility bills can result in service interruptions. These are the types of scenarios that demand immediate access to emergency funds.

    With fast cash advance options from MoneyMutual’s network of lenders, qualified borrowers can potentially receive funding in time to stay in their home and keep the lights on.

    Medical Emergencies

    A trip to the ER, unexpected prescriptions, or urgent dental work can cost hundreds—or even thousands—of dollars. For individuals without sufficient health insurance or savings, this can be financially devastating.

    Disclaimer: MoneyMutual and its lending partners do not offer medical advice or cover healthcare services. The platform is a financial service provider. For medical issues, please consult a licensed healthcare professional.

    That said, the speed of funding provided through MoneyMutual can be a useful tool to help address unexpected medical costs, especially when traditional financing is not accessible.

    Car Repairs and Transportation Needs

    A vehicle breakdown can be more than just an inconvenience—it can be a job-threatening event. Whether it’s a flat tire, a dead battery, or a failed transmission, these costs often arise without warning.

    MoneyMutual’s same-day loan options allow you to get back on the road without having to wait weeks for a credit union’s approval or pawn off personal belongings to make ends meet.

    Groceries and Family Expenses

    When paychecks are delayed or hours are cut, covering basic needs like groceries, diapers, or school supplies becomes a struggle. A short-term loan can provide a critical buffer during these tight times, especially for parents balancing multiple responsibilities.

    Debt Consolidation or Catch-Up Loans

    In some cases, borrowers use MoneyMutual to consolidate smaller debts or catch up on payments that are just a few weeks behind. While these loans aren’t meant for long-term debt restructuring, they can offer some breathing room while you rework your finances.

    Disclaimer: Borrowers should not rely on short-term loans as a long-term financial strategy. These loans are best used for immediate needs and emergency expenses. Always review terms carefully and consider your ability to repay.

    Pricing, Terms & Transparency

    What to Expect Before You Borrow

    One of the biggest concerns for anyone seeking a loan—especially with bad credit—is knowing what the actual cost will be. Will there be hidden fees? Sky-high interest rates? Penalties for early repayment? MoneyMutual helps take the guesswork out by ensuring that borrowers can review the loan terms upfront before making any commitments.

    It’s important to note that MoneyMutual is not a direct lender. Instead, it serves as a connector to a wide network of short-term lenders—each with their own pricing models and terms.This means your individual experience may vary depending on the lender you’re matched with.

    Loan Amounts and Repayment Schedules

    Money Mutual’s lender partners typically offer short-term loans ranging from $200 to $5,000, although exact figures depend on your income, location, and state laws. Repayment is generally expected in full on your next payday or may be scheduled over a few installment payments, depending on the lender’s policies.

    • Short-Term Payday Loans: Typically due on your next payday, with a lump-sum repayment.
    • Installment Loans: Spread over weeks or months, with set monthly payments.
    • Cash Advances: Designed to cover immediate financial needs, often repaid in a few weeks.

    Interest Rates and APRs

    Because MoneyMutual works with a wide range of lenders, the Annual Percentage Rate (APR) you receive can vary greatly. Lenders factor in your income, credit history (if checked), and state lending limits.

    Typical APR ranges may fall between 200% to 650% for short-term payday loans—although this can fluctuate.

    Disclaimer: APRs and loan costs vary significantly between lenders. Always read the full terms of your offer carefully before accepting. For the most accurate and current pricing, please visit the official MoneyMutual website. Pricing is subject to change at any time.

    No Hidden Fees From the Platform

    Submitting a loan request through MoneyMutual is 100% free. The platform does not charge users for access or for getting matched with a lender. However, the lender you choose may charge origination fees, late fees, or other penalties based on the loan terms.

    That’s why MoneyMutual emphasizes transparency: all offers must include full cost disclosures, repayment terms, and fees, so you can make an informed choice.

    Borrower Protections and Opt-Out Flexibility

    One of the platform’s standout features is that you’re never locked in. You can walk away from any offer at any point before signing the loan agreement. This gives borrowers the chance to pause, review, and make thoughtful decisions without pressure.

    It’s also worth noting that MoneyMutual does not perform hard credit checks when you submit a request—so your credit score won’t be affected just by exploring options.

    Security, Support, and Privacy

    Why Trust Matters in Short-Term Lending

    In an industry often criticized for shady practices and predatory behavior, Money Mutual has earned a reputation for transparency, data security, and ethical borrower support. When you’re already navigating a financial crisis, the last thing you need is to worry about whether your personal information is safe.

    That’s why MoneyMutual has built its platform with a security-first infrastructure and a privacy policy that clearly outlines how your data is collected, stored, and shared.

    Secure Application Technology

    MoneyMutual uses bank-level encryption (SSL 256-bit) throughout its application process. When you enter your details—such as income, employment status, and banking information—they are securely transmitted and stored only as needed to complete the loan request process.

    Only the matched lender receives your data for consideration. There’s no data-sharing with third parties for marketing purposes, and your personal information isn’t sold or exposed to unauthorized parties.

    This level of encryption is the same standard used by major financial institutions to protect sensitive data, and it’s one of the reasons the platform has maintained consumer trust for over a decade.

    Borrower Support and Accessibility

    While Money Mutual is a digital-first platform, it also offers support features designed to guide borrowers through the loan process. Users can:

    • Access FAQs and educational resources via the website
    • Use clear navigation tools and prompts to avoid confusion during applications
    • Reach out to Money Mutual’s support team via web-based inquiries for assistance with technical issues

    Keep in mind that loan-specific questions (such as repayment dates or lender terms) are handled directly by the lender after an offer is accepted. However, MoneyMutual remains available to address platform-related concerns or issues with access.

    Mobile Optimization for On-the-Go Access

    MoneyMutual is fully mobile responsive, meaning you can securely apply for a short-term loan or review lender offers using your phone or tablet—ideal for borrowers managing emergencies while on the move.

    Whether you’re at work, in transit, or at home dealing with a financial hurdle, MoneyMutual ensures that safe access to fast cash offers is never more than a few taps away.

    No more loan denials! Join over 2 million users who found relief through MoneyMutual. Apply now and take control of your financial situation today.

    Potential Drawbacks and Warnings

    What to Know Before You Borrow

    While MoneyMutual offers a convenient and fast way to access short-term loans, it’s important to recognize that not every financial solution is right for every situation. As with any loan product—especially those involving bad credit or emergency funding—there are risks and limitations to keep in mind before proceeding.

    This section is designed to give you a realistic understanding of where potential issues can arise and how to navigate them responsibly.

    Short-Term Loans Can Carry High Interest

    Many of the lenders within MoneyMutual’s network offer payday loans or cash advances, which are typically due in full on your next payday. While this can provide fast access to funds, it also means a very short repayment window—often just 2 to 4 weeks.

    If you can’t repay the loan in full by the due date, some lenders may offer rollover or renewal options—but these can trigger additional fees and increase the total cost of the loan dramatically.

    Disclaimer: Short-term payday loans may carry high APRs and fees. These products are designed for emergency use only. Always read your loan terms carefully and assess your ability to repay before accepting an offer.

    Loan Terms Vary by Lender

    Because MoneyMutual is not a lender, it cannot guarantee loan terms, interest rates, or approval. All of these are decided solely by the third-party lender you’re matched with.

    This means:

    • Not everyone will qualify
    • Loan terms may vary widely
    • Offers may include origination or late fees based on lender policies

    It’s essential to treat every loan offer with the same caution you’d apply to a contract. Don’t rush to accept simply because you need funds urgently.

    Not a Long-Term Financial Strategy

    Money Mutual’s platform is built for short-term relief, not long-term financial management. If you’re facing persistent debt or income challenges, a debt management plan, credit counseling, or budget restructuring may be more sustainable.

    Disclaimer: Money Mutual’s services are not intended as a replacement for long-term financial planning. For ongoing financial hardship, seek guidance from certified financial advisors or nonprofit debt support programs.

    Real Customer Experiences and Testimonials

    What Borrowers Are Saying About Their MoneyMutual Experience

    When it comes to financial services—especially those targeting consumers with bad credit—trust is built not just on features, but on real-world outcomes. While every borrowing experience is unique, hearing how others navigated the process can help you make a more informed decision.

    While MoneyMutual does not host user reviews directly on its site, a scan of public forums, review aggregators, and financial blogs shows a range of authentic customer feedback, much of it centered around speed, simplicity, and access.

    Common Positive Experiences

    Across various review platforms, several themes continue to surface:

    • Fast response times: Many borrowers report being contacted by lenders within minutes of submitting their loan request through the MoneyMutual site.
    • Ease of application: Users with little or no experience in online lending highlight how intuitive and fast the form was to complete.
    • Relief during emergencies: Customers share stories of how they used MoneyMutual to cover rent shortfalls, car repairs, or unexpected family needs.
    • High approval odds: Even borrowers with credit scores below 600 mention receiving loan offers—something rarely experienced with banks.

    One reviewer noted, “I didn’t think I would get approved anywhere, but MoneyMutual matched me with a lender who funded $600 in my account by the next day. It helped me avoid eviction.”

    Another stated, “I’ve used it twice now. No one pressured me to accept anything, and I liked being able to compare lenders before making a decision.”

    Things to Watch For

    Some borrowers also point out areas to be cautious with:

    • Loan costs vary significantly: A few reviewers mentioned being surprised by high interest rates after clicking through to lender sites.
    • Lender communication quality: While MoneyMutual itself provides a smooth user experience, interactions can vary based on the lender you’re matched with.

    These accounts reinforce the importance of reading all terms thoroughly and understanding the true cost of the loan before accepting.

    Disclaimer: Individual results will vary. Testimonials are for illustrative purposes only and do not guarantee similar outcomes. Always review terms directly from the lender.

    Your emergency doesn’t wait—and neither should you. Start your free MoneyMutual application now and connect with lenders offering fast funding!

    Frequently Asked Questions

    Everything You Need to Know About Using Money Mutual

    If you’re exploring Money Mutual as a solution for bad credit loans or fast cash advances, these frequently asked questions address the most important concerns potential borrowers have before applying.

    Can I really get a loan with bad credit through Money Mutual?

    Yes. MoneyMutual specializes in helping borrowers with bad credit find short-term loan offers through a network of trusted lenders. Even if you’ve been denied elsewhere due to a low credit score, you may still qualify for a cash advance or installment loan using the platform.

    Disclaimer: Approval is not guaranteed. Loan decisions are made solely by third-party lenders.

    Is MoneyMutual a legitimate platform for fast loans?

    Yes. MoneyMutual is a well-established online loan marketplace that has helped over 2 million users connect with lenders offering emergency loans, payday loans, and bad credit personal loans. It uses encrypted technology and complies with industry standards to protect your information.

    How much money can I borrow through MoneyMutual?

    Loan offers typically range from $200 to $5,000, depending on your income, location, and lender qualifications. These loans are designed for short-term financial needs like rent, car repairs, or medical bills.

    Disclaimer: Final loan amounts, rates, and terms vary by lender. Always review your offer carefully.

    Does applying affect my credit score?

    No. When you submit a request through Money Mutual, it does not trigger a hard credit inquiry. Your credit score remains unaffected unless you accept a loan and the lender performs a check during their final approval process.

    How fast will I receive the funds?

    Many borrowers receive their loan funds within 24 hours, and in some cases, even on the same day. This makes MoneyMutual ideal for urgent financial situations requiring fast cash.

    Are there any fees to use Money Mutual?

    No. Submitting a loan request on MoneyMutual is completely free. You will never be charged to use the platform. Any fees or interest rates come from the lender directly.

    What types of loans are available?

    MoneyMutual helps users connect with lenders offering:

    • Payday loans
    • Installment loans
    • Cash advances
    • Emergency short-term loans

    These options can help manage unexpected expenses or financial gaps between paychecks.

    Is my personal information safe on the platform?

    Yes. Money Mutual uses bank-level encryption to protect all sensitive data submitted through its platform. Your privacy and data security are top priorities.

    Money tight? Get connected with a short-term lender now through MoneyMutual. Fast, private, and no cost to apply—get the help you need today.

    • Company: MoneyMutual
    • Address: 2510 E. Sunset Rd. Ste 6, #85 Las Vegas NV, 89120
    • Email: customerservice@moneymutual.com
    • Phone Support: 844-276-2063

    Disclaimer and Affiliate Disclosure

    The information contained in this article is provided for general informational and educational purposes only and does not constitute financial advice, legal advice, medical advice, or any other form of professional guidance. Readers are strongly encouraged to seek the counsel of a qualified financial advisor, legal professional, or healthcare provider before making any financial, legal, or medical decisions based on the content presented herein.

    While reasonable efforts have been made to ensure the accuracy, completeness, and reliability of the information at the time of publication, no representations or warranties, express or implied, are made regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any information contained in this article. The publisher, content distributors, syndication partners, and all affiliated entities expressly disclaim any liability for errors, omissions, typographical mistakes, outdated information, or misinterpretations that may occur within this content. All information is provided “as is” without warranty of any kind.

    Neither the publisher nor its syndication partners shall be held liable for any direct, indirect, incidental, consequential, or special damages arising from or in connection with the use of, or reliance upon, the information contained herein. By accessing or relying on this article, readers agree to hold harmless the publisher, its distribution partners, affiliated entities, and any contributors from any claims, losses, or damages related to the content or its dissemination.

    This article is not published by, affiliated with, or endorsed by MoneyMutual or any of its parent or related entities. All product names, trademarks, registered trademarks, and company names mentioned herein are the property of their respective owners and are used solely for identification purposes.

    Important Service Disclosure

    The operator of this website is not a lender, does not arrange, facilitate, or broker loans to lenders, and does not make short-term cash loans or credit decisions. It is not an agent, representative, arranger, facilitator, or broker of any lender, does not endorse any lender, and does not charge consumers for any service or product.

    This website does not constitute an offer or solicitation to lend. This platform allows users to submit their information to a lender in order for a lender to determine whether they may be able to offer a short-term loan. However, providing information on this website does not guarantee that a lender will work with the user or that the user will be approved for a short-term loan.

    Cash advances should be used solely for addressing immediate cash needs and should not be considered a long-term financial solution. Not all lenders are able to provide loans up to $5,000. Cash transfer times may vary between lenders and are subject to each borrower’s financial institution policies and procedures.

    For specific details, concerns, or questions regarding any short-term loan, users should contact their lender directly. Loan services and lender availability may vary based on state laws and individual lender requirements. This service is not available in Connecticut. Additionally, this service is not available in New York or to New York borrowers due to interest rate limits imposed by New York law.

    Credit checks, consumer credit reports, and other personal data may be obtained by some lenders from Experian, Equifax, TransUnion, or through alternative providers.

    Affiliate Disclosure

    This article may contain affiliate links. If a reader clicks on an affiliate link and proceeds to submit an application, complete a transaction, or make a purchase, the publisher or associated parties may receive compensation at no additional cost to the reader. This potential compensation does not influence the editorial integrity, opinions, evaluations, or recommendations expressed in this article.

    All recommendations, descriptions, and reviews are based on independent research, analysis, and information believed to be accurate at the time of publication. Readers are encouraged to conduct their own due diligence and verify any product, service, or offer directly with the official website or provider prior to engagement.

    The MIL Network –

  • MIL-OSI USA: Rep. Espaillat Highlights Slate of Congressional Efforts this Congress to Address Climate Change, Ensure Environmental Justice, and Bolster Climate Solutions

    Source: United States House of Representatives – Congressman Adriano Espaillat (NY-13)

    NEW YORK, NY — Today, Representative Adriano Espaillat (NY-13) issued the following statement in recognition of Earth Day 2025 and touted several pieces of legislation he leads during the 119th Congress: 

    “On Earth Day, we reaffirm our commitment to adopting climate solutions to save our planet,” said Espaillat. “The difference we make today will have resounding impacts throughout our communities and the future of our society. I am proud to sponsor many critical environmental bills this Congress and remain committed to ensuring a greener, more sustainable future for the next generation.” 

    • The Green Climate Fund Authorization Act — authorizes an additional $8 billion to the Green Climate Fund, supporting climate action projects globally. 
       
    • The Housing Survivors of Major Disasters Act – bipartisan legislation re-introduced with Congresswoman Young Kim (R-CA) in the wake of the California wildfires. The bill eliminates barriers for survivors of natural disasters when seeking housing assistance. 
       
    • Resolution Recognizing Cecil Corbin-Mark honors his significant contributions to the environmental justice movement, working with primarily vulnerable and disadvantaged communities. 
       
    • Secure Electronic Waste Export and Recycling Act– bipartisan legislation re-introduced with Congressman Mario Díaz-Balart (R-FL), which curbs the overwhelming flow of electronic waste (“e-waste”) exports from the United States, which bring about national security risks, harm the public health, and cause significant damage to the environment  
       
    • The Solid Waste Infrastructure for Recycling Grant Program (SWIFR) Reauthorization Act — reauthorizes and suggest an increase in funding for the EPA’s most important recycling grant program through 2035. 

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    Representative Espaillat is the first Dominican American to serve in the U.S. House of Representatives and his congressional district includes Harlem, East Harlem, West Harlem, Hamilton Heights, Washington Heights, Inwood, Marble Hill and the north-west Bronx. First elected to Congress in 2016, Representative Espaillat is serving his fifth term in Congress. Representative Espaillat currently serves as a member of the influential U.S. House Committee on Appropriations responsible for funding the federal government’s vital activities and serves as Ranking Member of the Legislative Branch Subcommittee of the committee during the 119th Congress. He is Chairman of the Congressional Hispanic Caucus (CHC), a member of the Congressional Progressive Caucus (CPC), and serves as a Senior Whip of the Democratic Caucus. To find out more about Rep. Espaillat, visit online at https://espaillat.house.gov/. 

    Media inquiries: Candace Person at Candace.Person@mail.house.gov 

    MIL OSI USA News –

  • MIL-OSI Security: Napa Valley Winery Owner Pleads Guilty To Aiding And Assisting In Filing Of False Tax Return

    Source: Office of United States Attorneys

    SAN FRANCISCO – Brian Fleury, 64, of Napa County, pleaded guilty in federal court today to aiding and assisting the preparation of a false tax return for the 2016 tax year.

    According to court documents and statements made in court, Fleury and his spouse owned Napa Valley winery Metropolitan Wines, LLC and several vineyards also located in Napa Valley.  For tax years 2014 through 2018, Fleury intentionally underreported income earned by Metropolitan Wines to his income tax preparer.  Fleury directed some customers to pay for their wine by writing checks directly to Fleury instead of to Metropolitan Wines.  Fleury wrote or directed his employees to write “OTB,” for “off the books,” on some of these customers’ invoices.  Fleury kept these payments for himself and did not report this as income earned by Metropolitan Wines.  Between 2014 and 2018, Fleury underreported his and his spouse’s income by $822,450.

    Fleury also admitted that from 2007 through 2019, he failed to pay federal excise tax that was due on brandy he received, possessed, and sold.  Fleury filed annual reports with the United States Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau (TTB) that falsely stated that no wine had been removed for distilling material, no wine had been produced with the addition of wine spirits, no distilled spirits were on hand, and no spirits had been sold or received in bond.  Fleury knew these statements were false.  

    In fact, in 2007, Fleury directed that 3,983 gallons of wine be transferred to a distilled spirits plant, and later that year, the plant returned 911.33 proof gallons of brandy to Metropolitan Wines.  Fleury also admitted that he had produced 2006, 2008, and 2009 vintage brandy, and that he bottled and sold brandy from 2013 through 2018 under the name “9 Fiddy” for $350 per 375 ml bottle in regular wine bottles to conceal his sale of brandy.  

    In total, Fleury caused a tax loss to the IRS and TTB of $211,092.

    Acting United States Attorney Patrick D. Robbins, IRS Criminal Investigation (IRS-CI) Special Agent in Charge of the Oakland Field Office Linda Nguyen, IRS-CI Special Agent in Charge of the Washington, D.C. Field Office Kareem Carter, and Anthony P. Gledhill, Assistant Administrator, Field Operations for TTB made the announcement.

    Fleury pleaded guilty to one count of aiding and assisting in the preparation of a false tax return in violation of 26 U.S.C. § 7206(2), which carries a maximum sentence of three years in prison.  He is scheduled to be sentenced on Aug. 13, 2025, before Senior U.S. District Judge Maxine M. Chesney. Any sentence will be imposed by the Court only after consideration of the U.S. Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. § 3553.

    Assistant U.S. Attorney Helen L. Gilbert is prosecuting the case with the assistance of Kathy Tat. The prosecution is the result of an investigation by IRS-CI and TTB, with assistance from the Federal Bureau of Investigation.
     

    MIL Security OSI –

  • MIL-OSI USA: Congressman Moore Reacts to Cleveland Cliffs Announcement About Future of Facility in Weirton

    Source: United States House of Representatives – Representative Riley Moore (WV-02)

    Washington, D.C. – Congressman Riley M. Moore issued the following statement on Cleveland-Cliff’s announcement about the future of their Weirton steel facility:

    “For generations, the Northern Panhandle of West Virginia has forged the steel that kept our country strong, prosperous, and free. Today’s announcement is nothing short of heartbreaking.

    “Last year I stood in front of the men and women of United Steelworkers Local 2911, laying out a vision to get the plant running again and the steel workers back on the job. Despite today’s disheartening news, Weirton remains one of the best places in America to produce steel because of our hardworking, skilled workforce with a century of experience in the industry.

    “I’ve had productive conversations about the future of this facility with people in the Trump Administration, neighboring members of Congress, the Congressional Steel Caucus, and our partners in the private sector. I’ll keep fighting for Weirton and to keep these good-paying union steel jobs in the Northern Panhandle.”

    Background: The tinplate steel facility operated by Cleveland-Cliffs in Weirton, West Virginia was idled during the Biden Administration after the International Trade Commission rejected anti-dumping duties, triggering large job losses. Then-State Treasurer Riley Moore helped secure $50 million in support from the West Virginia Economic Development Authority to retrofit the plant for electrical steel and transformer production.

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    MIL OSI USA News –

  • MIL-OSI New Zealand: Speech at the AML Summit 2025

    Source: NZ Music Month takes to the streets

    Good morning and a warm welcome to everyone, it’s a pleasure to be here.

    Let me start by thanking AML Solutions for giving me the opportunity to speak on the 10th anniversary of the AML Summit. 

    I know you have a busy and interesting schedule to look forward to over the next couple of days.  This year’s conference theme is aptly named “The evolution of Risk”.  I understand that the presentations will focus on supporting reporting entities to understand what best-practice compliance looks like under a reformed risk-based and flexible AML/CFT system. 

    This theme is future-focused – and touches on issues I have spent a lot of time thinking about and planning for since becoming responsible for the AML/CFT portfolio in my role as Associate Minister of Justice. 

    You will likely know that last year Cabinet approved my plans for an AML/CFT reform programme.  The objectives of legislative reform are to meet the objectives this government committed to in our coalition agreement: and that is to tackle organised crime and cut red tape.

    How can New Zealand reform AML/CFT regulation to reduce burden on industry and support a common-sense approach to compliance; while still ensuring we are well placed to tackle organised crime and protect our international reputation as a trusted place to do business? 

    How do we equip ourselves to deal with new and emerging challenges and threats in this space?  How can we harness new technologies to help us fight crime more effectively and make it easier and cheaper for businesses to defend themselves against money laundering? 

    How will we ensure that we, as a country, are doing our part in this inherently global fight – in a fractious world where the nexus of organised crime and international conflicts is growing? 

    Over the last year I have taken advice and considered many of the challenges facing the sector in detail.  Many of you in this room, or online, will have been involved in and contributed to this advice.  I am so grateful for your hard work and specialist contributions.  Your expertise is invaluable – it enables robust discussion and informed decision-making. 

    Now is the time to deliver on our coalition commitments.  The Act has now been in force for 11 years and we know the current system is not delivering as well as it could for New Zealanders, businesses, or for law enforcement. 

    This is because the laws and requirements are highly complex and not sufficiently risk based.  As a result, they can be repetitive and unnecessarily burdensome.  I have heard from many New Zealanders that the requirements are confusing, obstructive, and costly.

    Some of the examples they have given me illustrate how absurd these requirements can be. I ’ve heard from mothers who’ve told me they cannot open bank accounts for their child unless they are able to prove where their child lives. I’ve heard from elderly widows, who had relied on their husbands to take care of bills and are now unable to have a bank account in their own name because they have no written proof to say they live in their own home.  These are clear indications of how the system is failing to take a properly risk-based approach.

    Multiple reviews of the current system have also identified deficiencies that make it harder for the system to effectively deter and combat the criminal activity that we know is taking place in New Zealand. 

    At New Zealand’s latest mutual evaluation, the Financial Action Task Force (FATF) reported on several strengths in the New Zealand system but also highlighted that there is room for significant improvement. 

    I know you will be aware that compliance with international standards is incredibly important for New Zealand’s global reputation and financial standing.  We know that FATF recommendations are now tougher, and that there are still many actions from our last evaluation that we need to address.  Regulatory reform is needed to ensure we do well at our next evaluation. 

    But let’s not belabour what we already know about the deficiencies. Let’s instead focus on opportunities for the future and what we can achieve through this reform programme.  To me, reform presents a great opportunity to enhance the strengths of our system, and to address identified concerns. 

    We know, for example, that the wider Financial Crime Group do excellent work, especially relating to asset recovery.  We only need to cast our eyes to very recent news stories – I’m thinking of the announcement last September of the highly successful operation against the Comanchero gang which saw $5.8 million worth of assets restrained – to know law enforcement across the system is working hard and achieving remarkable successes through their work.  A look at the latest Police annual report shows that over $72 million of assets were restrained from organised and financial crime, and 379 money laundering investigations resulted in prosecution.

    We also know there is sound domestic cooperation and coordination on monitoring possible terrorist financing – the FATF told us so, at our latest mutual evaluation. 

    The FATF have also noted that we are known internationally for our high-quality responsiveness to cooperation requests. 

    In other words, New Zealand already does lots of things well.  Our focus is therefore on improving the AML/CFT system to enhance these strengths.  Let’s enable the system and its actors to achieve the intended outcomes: to detect and deter money laundering and terrorism financing.

    This Government is about quality regulation.  We want regulation that achieves intended outcomes, regulation that makes sense and is workable for all.  This means getting rid of unnecessary red-tape– if regulation isn’t providing the results we are after, there is no point to it. 

    In the case of the AML/CFT system, regulation needs to contribute to the fundamental purpose of the system: tackling crime.  To do that effectively, we need an agile, streamlined system that is laser focussed on real risk. 

    A truly risk-based system will better enable law enforcement to crack down on organised crime by providing the financial intelligence needed to go after criminal organisations.  A truly risk-based system is more aligned with international obligations and standards.  A truly risk-based system will provide regulatory relief for lower risk businesses and the public.

    My reform programme, therefore, will be undertaken in three parts.  The first phase is already well-advanced and will deliver immediate regulatory relief via two bills – the first, the Statutes Amendment Bill, has already been reported back from Select Committee to the House of Representatives, and is likely to come into effect in the coming months.  The second, the Anti-Money Laundering and Countering Terrorism Financing Amendment Bill, is currently before select committee. 

    The changes made through these bills include removing both address verification requirements for many customers, and relaxing enhanced customer due diligence requirements for lower-risk trusts.  This will help make it easier for mums and dads to set up bank accounts for their kids, and easier for vulnerable kiwis – including the elderly – to get access to essential financial services. 

    This first set of reforms aims to make immediate changes, to make the AML/CFT system more risk-based and ease the regulatory burden on businesses.

    These changes alone already represent the most significant regulatory relief in the history of the AML/CFT regime.  But we do not intend to stop there.

    The second phase of changes focuses on structural reforms for the regime. Cabinet has agreed that, as part of these structural reforms, we will be implementing a single AML/CFT supervisor structure within the Department of Internal Affairs.  This will replace the current three-supervisor model. 

    This move will create a more efficient, effective, and risk-based supervisory structure – one that reduces unnecessary compliance costs for lower-risk businesses and transactions, removes the need for multi-supervisor coordination efforts – thereby reducing costs – and streamlines decision-making.

    A single supervisor can be more resource responsive to the ever-changing risk environment.  A single supervisor will be better able to deliver consistent and timely guidance to support reporting entities. 

    This will help to ensure that businesses have the confidence to take a more flexible approach to implementing their AML/CFT obligations and lower the barrier to accessing financial services for low-risk customers. 

    A single supervisor with overview of the wider AML/CFT environment will also be better able to look for and realise opportunities as they arise.  For example, I’m sure we all agree that there are opportunities and benefits to be gained in the digital identity and open banking areas.  In addition, the emergence of AI could herald improved, and more cost effective, electronic Know Your Customer (eKYC) functions, risk assessments, and suspicious activity reporting.

    Everyone here will be aware that in a world of increasing demands, the AML/CFT system in New Zealand is currently underfunded.  My phase two structural reforms will also see us work towards introducing a sustainable funding model for the system. 

    The new hybrid funding model will establish an industry-levy.  I will ensure that this levy is designed in a way that distributes the costs in a risk appropriate and equitable way, so that it targets the highest risk sectors – such as large international banks – and does not place an undue burden on small businesses. 

    This hybrid funding model will provide sufficient resourcing for core regulatory functions and deliver substantial savings to the Crown.  This approach is in line with what has been done in other like-minded jurisdictions, like Australia, the United Kingdom and Canada.

    As part of the work on the funding model, a work programme and a National Strategy will be developed in partnership with industry and agreed by Cabinet to ensure that the system is focussed on industry priorities.  Any changes to the levy will also need to be informed by the AML/CFT National Strategy. 

    Now, I know that many of you in this room will have opinions and views on the approach we have taken to these structural reforms.  I look forward to engaging with you and drawing on your sector expertise as we get stuck into the detail of this change process.

    The structural changes in phase two of my reforms will result in an amendment Bill that I aim to have introduced by the middle of this year.  Officials are currently working on the details of developing and implementing the levy, but I expect that the earliest it would be in place is by 2027.

    The third phase of these reforms will deliver wider legislative changes to implement international standards outlined by the FATF.  This Bill will be introduced later in this Parliamentary term.

    Doing this international compliance work will have a natural flow on effect that improves New Zealand entities’ ability to carry on with business and sharpens our law enforcement tools.  Importantly, it includes amendments to provide further flexibility for businesses to take a more risk-based approach to their AML/CFT obligations.

    The work programme was designed to address specific areas that were identified through robust stakeholder consultation during the 2022 Statutory Review of the AML/CFT Act and further targeted engagement has been undertaken since then.

    I am aware there is room for improvement in other areas as well – and some of you may be disappointed that more statutory reforms are not currently being progressed. 

    In arriving at my current statutory reform programme, I have taken a pragmatic approach – the current fiscal environment dictates that we are smart and outcomes-focused with our reforms.  Right now, this means prioritising the changes that will give us the biggest bang for our buck in terms of regulatory relief, while ensuring compliance with international expectations and supporting law enforcement to tackle organised crime and delivering regulatory relief. 

    We need to prioritise this legislative work programme first to ensure that changes to the law are made and the system is properly set up to take a risk-based approach in time for our next mutual evaluation in 2028.  I am excited and proud that this reform programme is on track to deliver the most significant regulatory relief since the Act came into force in 2013.

    But, like you, I want to do more, if I can.  I am committed to look for opportunities to do just that, not only through reforms to legislation, but also through considering potential exemptions and regulations that will support a more risk-based AML/CFT system.

    I look forward to working with you all as we move forward with all the parts of this reform programme.  To me, the key to successfully strengthening the AML/CFT system through these reforms is collaboration and leveraging expertise in the sector. 

    I encourage you all to participate in consultation when these opportunities come up.  We need people with experience and knowledge to get involved – we need you.  I look forward to hearing your views on how we can make the laws work for you. 

    Thank you for having me today, it’s a pleasure to be here with you all.  Enjoy your time here at the conference.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Speech to TRENZ 2025

    Source: NZ Music Month takes to the streets

    Tēnā koutou, tēnā koutou, tēnā koutou katoa.

    Thank you for welcoming me here today, and for that lovely introduction from Rebecca Ingram from Tourism Industry Aotearoa.

    I appreciate the great working relationships I have across the tourism sector and how we are united in wanting the best for our country.

    It’s wonderful to be back in Rotorua – one of New Zealand’s best-known and best-loved tourism destinations.

    Rotorua is actually the birthplace of New Zealand tourism.

    In the 19th century, intrepid international tourists took a 75-day sea voyage from Britain to New Zealand, followed by a 200km steam train trip from Auckland to Tauranga, followed by a horse-drawn carriage ride to Lake Rotomahana via Rotorua (a distance over 100kms). All in pursuit of the famous pink and white geothermal terraces.

    Once there, they were greeted by New Zealand’s first tour guides. Māori women from Rotorua’s local iwi Te Arawa demonstrated fantastic entrepreneurial spirit, not only by warmly welcoming these tourists but by developing businesses out of showing them what was then known as the “eighth wonder of the world”.

    While the terraces were lost in a volcanic eruption in 1886, Rotorua’s geothermal attractions remain world-class. And its people remain some of the world’s best and most hospitable tourism operators.

    I urge you to take the opportunity to experience all the amazing tourism experiences that Rotorua has to offer while you are here.

    I was in Europe last week talking trade and security with our partners and also attending the Pope’s funeral, and I heard from people all around the world about how much they want to come visit New Zealand. 

    I can’t wait to work with all of you in the room today to welcome them here to experience all New Zealand has to offer.

    Before we start, I would also like to thank the Premier Sponsor Air New Zealand and Tourism New Zealand, as well as all the prestigious event partners and organisers for bringing us all together and make TRENZ possible.

    A special thanks to those who have travelled from overseas to understand and experience our tourism offerings. Your participation is essential to the success of TRENZ.

    Context of TRENZ

    Tourism is about people-to-people connection, and it is fantastic to welcome both the buyers and sellers to TRENZ.

    As an industry, you should feel proud of your achievements in rebuilding our tourism sector and making such a huge contribution to our economy as a major employer and innovator.

    You are our global ambassadors for New Zealand. And you foster thriving communities to live and work in.

    We value you and the work you do enormously.

    Importance of tourism to the New Zealand economy

    Our Government is obsessed with economic growth because it is the only way Kiwis get higher incomes, more money in their pockets, more jobs, a future for their kids and grandkids, and better public services like health and education.

    We can achieve this by playing to our strengths. New Zealanders are famous for our innovation and creativity – as demonstrated by those early Te Arawa tour guides. And we are also home to some of the most breathtaking scenery in the world. Snow-capped mountains and fjords, golden sandy beaches, subtropical forests, and volcanic plateaus.

    Mix those ingredients together and you have a recipe for world class tourism experiences.

    So, it’s no wonder that tourism is a lynchpin of our economy.

    Domestic and international tourism expenditure is now worth over $44 billion annually. Tourism contributed 7.5 per cent of New Zealand’s GDP and it continues to be our second highest export.

    More than four in five New Zealand residents (82 per cent of us) benefited from tourism activity in their local area last year. 

    But we have room for more.

    Last year, we welcomed over 3 million visitors to our country.

    Which is a 12 per cent increase on the previous year, but still fewer than pre-Covid.

    There is plenty of capacity for more international tourists to visit our shores.

    There is also more capability and opportunities to provide more premium attractions and experiences. This doesn’t necessarily mean more expensive – it means more high-value.

    As good as our recent growth has been, globally we are middle of the pack in terms of the productivity per capita, which is measured by total value of tourism divided by the number of people working in it.

    If we push ourselves and get into the top 10 per cent of the most productive tourism markets in the world, we can generate another $9 billion in value for the industry.

    I hope that provides you with the motivation you need to keep innovating and keep investing in your businesses and tourism experiences. 

    Because tourism is a competitive market, and our job is to make sure we’re at the top of people’s lists and that we are converting desire to travel into reality.

    Broader benefits of tourism

    Welcoming more visitors here means more full tables in our restaurants, more bookings for our local accommodation providers, and more people visiting our regions and attractions. 

    But it’s not just businesses that are directly connected to the industry that benefit from tourism. The benefits of tourism filters into so many aspects of our society and economy.

    I have already mentioned our beautiful natural environment which is the backdrop of so much tourism in New Zealand. 

    One of New Zealand’s great success stories has been our efforts to eradicate invasive pests which damage our environment. We are now world leaders in pest eradication and have developed technologies and methods which we export to the world. But our success is partly thanks to eco-tourism, which provides us with the commercial incentive and revenue needed to undertake conservation work.

    Great examples of this virtuous cycle exist right here in Rotorua. Rotorua Canopy Tours provides visitors with an exhilarating experience of ziplining through ancient, native forest and it helps fund local conservation efforts.

    Reasons like this are why we are rolling out the red carpet and making it easier than ever for the world to visit our beautiful country.

    Removing barriers and growing tourism

    We’re at a pivotal moment where bold, decisive actions are essential to reignite our tourism industry and propel it back to the heights of 2019—and beyond. 

    The Government is fully committed to this mission. 

    We have already invested more than $20 million in a Tourism Boost package and will shortly be launching the Tourism Growth Roadmap. 

    These investments are not just steps; they’re leaps forward in our broader Going for Growth strategy. We’re not just aiming to recover—we’re aiming to thrive.

    I know our Minister for Tourism and Hospitality, Louise Upston, has been working hard to identify ways we can boost international tourism in the short-term. 

    Last month, we announced over $13 million for Tourism New Zealand to further bolster our international marketing. 

    Our Government is also committed to enhancing airline connectivity, recognising that it’s the lifeline to strengthening our global ties and boosting tourism and trade.

    We are working hard to build better airline connectivity with important emerging markets such as India. When in India recently, I was proud to witness the signing of a MoU between Air New Zealand, Tourism New Zealand and Air India to encourage commencement of direct (non-stop) flight operations between the two countries.

    We’ve also relaxed our visitor visa rules to accommodate the modern traveller. Digital nomads can now work remotely for their overseas employers while exploring New Zealand.

    Our visa process is becoming more efficient too. In 2024, the average visitor visa was approved in only 7 working days, which was 2 days faster than in 2023. This means people can plan their New Zealand adventure with confidence, knowing that we’re here to make your journey as smooth as possible.

    And here’s more good news: the majority of visitors do not need a visa to come here and instead can travel on a New Zealand electronic Travel Authority, which are processed within 72 hours. And, we have visa waiver arrangements with 60 countries, which is more than most of our comparator countries.

    We pride ourselves on our user-friendly immigration and border services, ensuring the arrival is as welcoming as our stunning landscapes. We are open for visitors, and we continue to offer stability, consistency, and transparency in our offerings.

    Conclusion

    In closing, I want to thank you. Thank you for your passion and resilience and for the incredible experiences you offer visitors. Thank you again Kerry, Bex, and TIA. 

    2025 is our chance to strengthen the value of tourism and drive New Zealand to be a humming, vibrant country. Together we can continue our work on being a resilient and prosperous sector that provides high-quality experiences and services.

    But we have to be bold. 

    Let’s continue to push our boundaries to ensure that New Zealand remains a world leader. 

    Keep up the great work, I look forward to talking with more of you throughout the event.

    MIL OSI New Zealand News –

  • MIL-OSI USA: News 05/7/2025 Blackburn, Welch Introduce Bill to Safeguard Rideshare Passengers’ Privacy

    US Senate News:

    Source: United States Senator Marsha Blackburn (R-Tenn)
    WASHINGTON, D.C. – Today, U.S. Senators Marsha Blackburn (R-Tenn.) and Peter Welch (D-Vt.) introduced the Safe and Private Rides Act, which would require transportation network companies (TNCs) to notify passengers when their driver has a video recording device in the car and give passengers the opportunity to opt out of riding with a driver with a dashcam, preventing rideshare drivers from violating passengers’ privacy:
    “Passengers shouldn’t have to sacrifice their right to privacy the moment they step into a rideshare vehicle, and they deserve to know when they are being recorded,” said Senator Blackburn. “The Safe and Private Rides Act would increase transparency and ensure that both driver safety and passenger privacy are protected as more Americans take advantage of these services.”
    “Millions of people around the country rely on rideshare services for transportation every day, whether it’s to the doctor, work, or the airport. Folks using rideshare services deserve to have peace of mind about their digital privacy during a ride, which includes knowing if they will be filmed before calling a ride,” said Senator Welch. “Our bipartisan Safe and Private Rides Act gives passengers using rideshare services straightforward privacy protections by allowing the option to opt out of a rideshare using video recording devices that record passengers.”
    BACKGROUND
    Americans are increasingly using rideshare services as a form of transportation, and U.S. ridesharing profits are expected to generate $54 billion annually by 2027.
    In many American cities, rideshare drivers have expressed feeling uncomfortable and unsafe while driving and have turned to technology and dashcams to add a layer of safety. These dashcams, while beneficial for the driver, could present privacy concerns for passengers. In the past, some rideshare drivers have recorded their passengers and subsequently released the footage online, in a blatant violation of privacy. Passengers should ultimately have a right to know that they are being recorded and to opt out of riding in cars that utilize recording devices if they so choose.
    Rideshare companies have become a source of convenience and accessibility, and they are an example of American innovation. As they grow, their drivers should be able to use technology to protect themselves, and passengers should be able to make decisions to preserve their privacy.
    THE SAFE AND PRIVATE RIDES ACT
    The Safe and Private Rides Act would increase transparency by giving passengers choice while preserving the driver’s safety.
    Specifically, the Safe and Private Rides Act would: 
    Require TNCs to notify passengers when their driver has a video recording device in the car;
    Require TNCs to give passengers the opportunity to opt out of riding with a driver with a recording device in the car; and 
    Grant the Federal Trade Commission the authority to enforce these transparency requirements.
    Click here for bill text.

    MIL OSI USA News –

  • MIL-OSI: LNG Energy Group Announces Application for Management Cease Trade Order

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 07, 2025 (GLOBE NEWSWIRE) — LNG Energy Group Corp. (TSXV: LNGE) (TSXV: LNGE.WT) (OTCQB: LNGNF) (FWB: E26) (the “Company” or “LNG Energy Group”) announces that there will be a delay in filing its annual financial statements, management’s discussion and analysis, related officer certifications for the financial year ended December 31, 2024, and Form 51-101F1, Form 51-101F2 and Form 51-101F3, as required by National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (collectively, the “Required Filings”), which are required to be filed on or before April 30, 2025 (the “Filing Deadline”). The delay in filing the Required Filings is primarily a result of delays caused in getting its local operational audit completed, combined with recent departures of key Company personnel. The Company is continuing to work with its Canadian auditors to complete the Required Filings as soon as possible and expects to file them within two months of the Filing Deadline.

    In connection with the delay in filing, the Company has applied to the applicable Canadian securities regulators for the issuance of a management cease trade order which would restrict all trading in securities of the Company by the Company’s Chief Executive Officer and Chief Financial Officer.

    The Company intends to satisfy the provisions of the alternative information guidelines set out in sections 9 and 10 of National Policy 12-203 – Management Cease Trade Orders so long as the Required Filings remain outstanding. The Company confirms as of the date of this news release that there is no insolvency proceeding against it and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

    About LNG Energy Group

    The Company is focused on the acquisition and development of natural gas production and exploration assets in Latin America. For more information, please visit www.lngenergygroup.com.

    For more information please contact:

    Angel Roa, Chief Financial Officer LNG Energy Group Corp.
    Website: www.lngenergygroup.com
    Email: investor.relations@lngenergygroup.com

    Find us on social media:
    LinkedIn: https://www.linkedin.com/company/lng-energy-group-inc/ Instagram: @lngenergygroup
    X: @LNGEnergyCorp

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:

    This news release contains certain forward-looking information that reflect the current views and/or expectations of management of LNG Energy Group with respect to performance, business and future events. Forward-looking information can often be identified by words such as “may”, “will”, “would”, “could”, “should”, “believes”, “estimates”, “projects”, “potential”, “expects”, “plans”, “intends”, “anticipates”, “targeted”, “continues”, “forecasts”, “designed”, “goal”, or the negative of those words or other similar or comparable words. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which LNG Energy Group operates. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking information, readers should not place undue reliance on such information. The risks and uncertainties include, but are not limited to, whether LNG Energy Group will be able to obtain regulatory approval for the management cease trade order and the anticipating timing of filing the Required Filings. Forward-looking information is current as of the date it is made and is based on reasonable estimates and assumptions made by us at the relevant time in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. LNG Energy Group does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    The MIL Network –

  • MIL-OSI New Zealand: NZ Treasury – Interim Financial Statements of the Government of New Zealand for the nine months ended 31 March 2025

    Source: The New Zealand Treasury

    The Interim Financial Statements of the Government of New Zealand for the nine months ended 31 March 2025 were released by the Treasury today. The March results are reported against forecasts based on the Half Year Economic and Fiscal Update 2024 (HYEFU 2024), published on 17 December 2024, and the results for the same period for the previous year.

    The majority of the key fiscal indicators for the nine months ended 31 March 2025 were better than forecast. The Government’s main operating indicator, the operating balance before gains and losses excluding ACC (OBEGALx), showed a deficit of $6.6 billion. This was $0.5 billion smaller than forecast largely due to lower than forecast core Crown expenditure. Net core Crown debt was $2.1 billion lower than forecast at $182.0 billion, or 42.6% of GDP.

    Core Crown tax revenue, at $89.5 billion, was $0.2 billion (0.2%) higher than forecast. While GST and other individuals’ tax were both above forecast by $0.5 billion each, this was broadly offset by source deductions and corporate tax which were below forecast by $0.5 billion and $0.3 billion, respectively.

    Core Crown expenses, at $104.1 billion, were $0.6 billion (0.5%) below forecast. This variance included some significant offsetting variances and was mostly timing in nature. In particular, core government services expenses were $0.6 billion above forecast, while transport and housing expenses were $0.6 billion and $0.3 billion below forecast, respectively. The remaining variance was spread across a range of agencies.

    The OBEGALx was a deficit of $6.6 billion, $0.5 billion less than the forecast deficit. When including the revenue and expenses of ACC, the OBEGAL deficit was $8.4 billion, $0.4 billion less than the forecast deficit.

    The operating balance deficit of $4.5 billion was $0.8 billion higher than the forecast deficit. This reflected net unfavourable valuation movements along with the favourable OBEGAL result. Net gains on financial instruments were $4.0 billion lower than forecast, driven by the performance of the New Zealand Superannuation Fund (NZS Fund) and ACC’s investment portfolios. This unfavourable variance was partly offset by net losses on non-financial instruments being $2.6 billion less than forecast. This was largely owing to a $0.7 billion net actuarial gain on ACC’s outstanding claims liability compared to a forecast net loss of $1.0 billion, and the New Zealand Emissions Trading Scheme with net losses being $0.9 billion lower than forecast.

    The core Crown residual cash deficit of $5.3 billion was $1.7 billion lower than forecast. While net operating cash flows were broadly in line with forecast, net core Crown capital cash outflows were $1.5 billion lower than forecast. This variance is expected to be timing in nature, mainly owing to net purchases of investments and net increases in advances which were both below forecast by $0.6 billion and $0.7 billion, respectively.

    Net core Crown debt at $182.0 billion (42.6% of GDP) was $2.1 billion lower than forecast. This variance was largely due to the variance in core Crown residual cash deficit and the factors not impacting residual cash which improved net core Crown debt. Of these factors, the most significant was foreign exchange movements since the HYEFU 2024 forecast which have resulted in $0.5 billion of net gains improving net core Crown debt without impacting the core Crown residual cash indicator.

    Gross debt at $206.0 billion (48.3% of GDP) was $0.5 billion higher than forecast, largely owing to higher than forecast government stock, partially offset by lower than forecast Treasury bills.

    Net worth at $183.8 billion (43.1% of GDP) was $0.3 billion lower than forecast. The variance to forecast reflects a higher operating balance deficit discussed above, partially offset by net actuarial gains on retirement plan schemes ($0.5 billion). Net worth consisted of total Crown assets of $594.7 billion (in line with forecast) and total Crown liabilities of $410.9 billion ($0.3 billion higher than forecast).


          

      Year to date Full Year
    March
    2025
    Actual1
    $m    		 March 
    2025
    HYEFU 2024
    Forecast1
    $m    		 Variance2
    HYEFU 2024
    $m    		 Variance
    HYEFU 2024
    %    		 June
    2025
    HYEFU 2024
    Forecast3
    $m
    Core Crown tax revenue 89,478 89,278 200 0.2 120,623
    Core Crown revenue 99,124 99,152 (28) –  134,038
    Core Crown expenses 104,088 104,662 574 0.5 144,638
    Core Crown residual cash (5,297) (7,018) 1,721 24.5 (16,610)
    Net core Crown debt4 181,984 184,121 2,137 1.2 192,810
              as a percentage of GDP 42.6% 43.1%     45.1%
    Gross debt 205,997 205,456 (541) (0.3) 206,558
              as a percentage of GDP 48.3% 48.1%     48.3%
    OBEGAL excluding ACC (OBEGALx) (6,589) (7,118) 529 7.4 (12,868)
    OBEGAL (8,370) (8,774) 404 4.6 (17,317)
    Operating balance (excluding minority interests) (4,484) (3,656) (828) (22.6) (10,161)
    Net worth 183,815 184,118 (303) (0.2) 177,492
              as a percentage of GDP 43.1% 43.1%     41.5%
    1. Using the most recently published GDP (for the year ended 31 December 2024) of $426,925 million (Source: Stats NZ).
    2. Favourable variances against forecast have a positive sign and unfavourable variances against forecast have a negative sign.
    3. Using HYEFU 2024 forecast GDP for the year ending 30 June 2025 of $427,252 million (Source: The Treasury).
    4. Net core Crown debt excludes the NZS Fund and core Crown advances. Net core Crown debt may fluctuate during the year largely reflecting the timing of tax receipts.

    MIL OSI New Zealand News –

  • MIL-OSI Russia: Leaders of Belarus and Guinea-Bissau held talks in Minsk

    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

    MINSK, May 7 (Xinhua) — Belarusian President Alexander Lukashenko and Guinea-Bissau President Oumarou Sisoko Embalo held talks in Minsk on Wednesday. The Belarusian leader announced his readiness to establish cooperation with the African country in all areas. The corresponding information was published by the press service of the Belarusian head of state.

    According to A. Lukashenko, Belarus is ready to supply Guinea-Bissau with a wide range of necessary products, including food, clothing, footwear, and industrial goods. “I know that you really need to develop agriculture to the highest level. You probably understand very well that we are capable of providing you with the appropriate technological and technical support and services. You can count on us in this regard,” A. Lukashenko said.

    In turn, U. Sisoku Embalo noted that Belarus’s vast experience in developing the agro-industrial complex is of great interest to his country. “We know that Belarus has accumulated vast experience in the agro-industrial complex. We would like to take advantage of this experience and thus open a kind of door to the future. I very much count on cooperation with Belarus,” he emphasized.

    On the same day, representatives of Belarus and Guinea-Bissau signed documents aimed at strengthening bilateral cooperation. Among them is an intergovernmental agreement on the abolition of visas for holders of diplomatic, official and service passports. A memorandum of cooperation in the field of agriculture was also signed. In addition, the parties signed a memorandum of cooperation between the Ministry of Industry of Belarus and the Ministry of Trade and Industry of Guinea-Bissau. –0–

    MIL OSI Russia News –

  • MIL-OSI Canada: Prime Minister Carney concludes First Ministers’ Meeting

    Source: Government of Canada – Prime Minister

    Today, the Prime Minister, Mark Carney, met virtually with provincial and territorial premiers. He was joined by the Minister of International Trade and Intergovernmental Affairs and President of the King’s Privy Council for Canada, Dominic LeBlanc.

    The productive discussion focused on two pillars: the Canada-U.S. relationship and reinforcing Canada’s strength at home.

    First, the Prime Minister updated the premiers on his meeting with President Donald J. Trump in Washington, D.C. He emphasized Canada’s openness to building a new economic and security relationship with the United States – based on respect, built on common interests, and to the benefit of both nations.

    First Ministers also discussed building projects of national interest to diversify the economy, create higher-paying jobs, and build one Canadian economy instead of 13. They agreed to accelerate project approvals, including through a ‘one project, one review’ approach. The Prime Minister reaffirmed his commitment to table federal legislation to eliminate federal trade barriers by Canada Day.

    Prime Minister Carney will meet with the premiers again on June 2, 2025, in Saskatoon, Saskatchewan.

    Associated Links

    MIL OSI Canada News –

  • MIL-OSI: OTC Markets Group Reports First Quarter 2025 Financial Results Delivering Revenue and Operating Income Growth

    Source: GlobeNewswire (MIL-OSI)

    First Quarter 2025 Highlights:

    • Gross revenues of $30.4 million for the quarter, up 10% versus the prior year period
    • Operating income of $7.3 million for the quarter, up 9% versus the prior year period
    • Operating profit margin of 24.7%, versus 25.0% for the prior year period
    • Net income of $6.0 million, up 1% versus the prior year period, and quarterly diluted GAAP EPS of $0.50, up 2%
    • Total cash returned to shareholders during the quarter of $5.1 million, comprised of dividends of $2.2 million and repurchases of common stock of $2.9 million
    • Announcing second quarter 2025 dividend of $0.18 per share
    • 548 OTCQX®and 1,051 OTCQB®companies at quarter end
    • 14 graduates to a national securities exchange during the quarter
    • 116 subscribers to OTC Link ECN as of March 31, 2025, up 4 versus March 31, 2024
    • 141 unique OTC Link subscribers as of March 31, 2025, up 6 versus March 31, 2024
    • Approximately 56,000 average daily trades during the quarter versus approximately 34,000 during the prior year period
    • OTC Markets Group announced that in July 2025, it will launch OTCIDTM– a Basic Reporting Market for companies that meet a minimal current information standard and provide a management certification. The Pink Current Market will cease to exist

    NEW YORK, May 07, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced its financial results for the first quarter of 2025.

    “During the first quarter of 2025, we remained focused on overnight trading and the launch of the OTCID Basic Market,” said R. Cromwell Coulson, President and Chief Executive Officer. “We continued to certify and connect subscribers to MOON ATSTM and OTC OvernightTM, and open distribution channels for our overnight data feeds. We are in constant communication with issuers, advisors, investors and our broker-dealer community as we move towards the July 1st OTCID launch date. We believe these key initiatives will increase the value of our regulated trading platforms for broker-dealers and improve the quality of our markets for investors.”

    “Our first quarter results highlighted the value of our diversified revenue streams and synergistic business lines,” said Antonia Georgieva, Chief Financial Officer. “OTC Link revenues increased, supported by higher trading volume, with price increases and subscriber growth driving Market Data Licensing revenue growth. Our Corporate Services business saw sales improve but experienced a small decline in revenues due to a lower number of companies across our markets. We remain focused on our key initiatives and on driving growth in users and usage of our products.”

    First Quarter 2025 compared to First Quarter 2024

    Financial Highlights

        Three Months Ended March 31,        
    (in thousands, except shares and per share data)     2025       2024     % change   $ change
    OTC Link   $ 6,563     $ 5,397     22 %   1,166  
    Market data licensing     12,783       11,088     15 %   1,695  
    Corporate services     11,080       11,172     (1 %)   ( 92 )
    Gross Revenues     30,426       27,657     10 %   2,769  
    Net revenues     29,432       26,817     10 %   2,615  
    Revenues less transaction-based expenses     27,057       25,309     7 %   1,748  
    Operating expenses     19,783       18,610     6 %   1,173  
    Income from operations     7,274       6,699     9 %   575  
    Operating profit margin     24.7 %     25.0 %        
    Income before provision for income taxes     7,424       6,874     8 %   550  
    Net income   $ 6,040     $ 5,984     1 %   56  
                     
    Diluted earnings per share   $ 0.50     $ 0.49     2 %    
    Adjusted diluted earnings per share   $ 0.81     $ 0.76     7 %    
    Weighted-average shares outstanding, diluted     11,834,071       11,863,089     –      
                     
    • Gross revenues of $30.4 million, up 10% over the prior year quarter. Revenues less transaction-based expenses up 7%.
    • OTC Link revenues up 22%. Transaction-based revenues from OTC Link ECN and OTC Link NQB up 46% due to a higher volume of shares traded on those platforms. Contributing to the overall increase in OTC Link revenues were an increase in certain connectivity revenue due to growth in the number of connection licenses and higher QAP service revenue related to the higher volume of trading activity.
    • Market Data Licensing revenues up 15%. Redistributor-based revenues increased 19%, with professional user revenues increasing 20%, and non-professional user revenues increasing 45% quarter over quarter. Revenues from direct sold licenses increased 22% primarily due to price increases and growth in subscribers as well as certain one-time revenue recognized during the quarter. Revenues from data and compliance solutions declined slightly at 1%, with lower revenue from EDGAR Online partially offset by increases in revenues from data services and our Blue Sky data product.
    • Corporate Services revenues down 1%. Revenues from our OTCQB market declined 2%, reflecting a lower number of companies on the OTCQB market, offsetting price increases effective from the beginning of the year. Revenues from our OTCQX market and our Disclosure & News Service® (“DNS”) product increased 1% and 2%, respectively, in each case due to price increases offsetting a lower number of companies on the OTCQX markets or subscribing to DNS.
    • Operating expenses increased 6%. The increase was primarily driven by a 3% increase in compensation and benefits, 33% increase in professional and consulting fees, and 34% increase in general, administrative and other, primarily due to higher bad debt.
    • Operating income increased 9% and net income increased 1%, to $7.3 million and $6.0 million, respectively.
    • Adjusted EBITDA, which excludes non-cash stock-based compensation expense, increased 7% to $9.8 million, or $0.81 per adjusted diluted share.

    Dividend Declaration – Quarterly Cash Dividend

    OTC Markets Group announced today that its Board of Directors authorized and approved a quarterly cash dividend of $0.18 per share of Class A Common Stock. The quarterly cash dividend is payable on June 18, 2025, to stockholders of record on June 4, 2025. The ex-dividend date is June 4, 2025.

    Stock Buyback Program

    The Company is authorized to purchase shares from time to time on the open market, from employees and consultants, and through block trades, in compliance with applicable law. During the first quarter of 2025, the Company purchased 55,522 shares at an average price of $52.8575 per share.

    On March 11, 2025, the Board of Directors refreshed the Company’s stock repurchase program, giving the Company authorization to repurchase up to 300,000 shares of the Company’s Class A Common Stock.

    Non-GAAP Financial Measures

    In addition to disclosing results prepared in accordance with GAAP, the Company also discloses certain non-GAAP results of operations, including adjusted EBITDA and adjusted diluted earnings per share that either exclude or include amounts that are described in the reconciliation table of GAAP to non-GAAP information provided at the end of this release. Non-GAAP financial measures do not replace and are not superior to the presentation of GAAP financial results but are provided to improve overall understanding of the Company’s current financial performance. Management believes that this non-GAAP information is useful to both management and investors regarding certain additional financial and business trends related to the operating results. Management uses this non-GAAP information, along with GAAP information, in evaluating its historical operating performance.

    First Quarter 2025 Conference Call

    The Company will host a conference call and webcast on Thursday, May 8, 2025, at 8:30 a.m. Eastern Time, during which management will discuss the financial results in further detail. The call and webcast may be accessed as follows:

    Webcast:
    The conference webcast and management presentation can be accessed at the following link (replay available until May 7, 2026):

    https://edge.media-server.com/mmc/p/5vwtdq3q

    Live Call:
    Participants intending to ask a question during the live call and Q&A session should also register in advance at:

    https://register-conf.media-server.com/register/BI6b79867bad5f4586a7cd407f82eecd3b

    Upon registration, participants will receive a dial-in number along with a unique PIN number that can be used to access the live call. Live call participants may also select a “Call Me” option.

    The Quarterly Report, earnings release, transcript of the earnings call, and management presentation will also be available in the Investor Relations section of the corporate website at

    https://www.otcmarkets.com/about/investor-relations.

    About OTC Markets Group Inc.

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

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

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

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

    Investor Contact:

    Antonia Georgieva
    Chief Financial Officer
    Phone: (212) 220-2215
    Email: ir@otcmarkets.com

    Media Contact:

    OTC Markets Group Inc.
    Phone: (212) 896-4428
    Email: media@otcmarkets.com

           
    OTC MARKETS GROUP INC.
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (in thousands, except share and per share information)
           
      Three Months Ended March 31,
        2025       2024  
    OTC Link $ 6,563     $ 5,397  
    Market data licensing   12,783       11,088  
    Corporate services   11,080       11,172  
    Gross revenues   30,426       27,657  
    Redistribution fees and rebates   (994 )     (840 )
    Net revenues   29,432       26,817  
    Transaction-based expenses   (2,375 )     (1,508 )
    Revenues less transaction-based expenses   27,057       25,309  
    Operating expenses      
    Compensation and benefits   12,906       12,522  
    IT Infrastructure and information services   2,715       2,699  
    Professional and consulting fees   1,956       1,466  
    Marketing and advertising   343       263  
    Occupancy costs   638       585  
    Depreciation and amortization   660       653  
    General, administrative and other   565       422  
    Total operating expenses   19,783       18,610  
    Income from operations   7,274       6,699  
    Other income      
    Other income   150       175  
    Income before provision for income taxes   7,424       6,874  
    Provision for income taxes   1,384       890  
    Net Income $ 6,040     $ 5,984  
           
    Earnings per share      
    Basic $ 0.50     $ 0.50  
    Diluted $ 0.50     $ 0.49  
           
    Basic weighted average shares outstanding   11,756,815       11,705,383  
    Diluted weighted average shares outstanding   11,834,071       11,863,089  
           
           
    Non-GAAP Reconciliation      
      Three Months Ended March 31,
        2025       2024  
    Net Income $ 6,040     $ 5,984  
    Excluding:      
    Interest expense (income)   (149 )     (175 )
    Provision for income taxes   1,384       890  
    Depreciation and amortization   660       653  
    Stock-based compensation expense   1,881       1,826  
    Adjusted EBITDA $ 9,816     $ 9,178  
           
    Adjusted diluted earnings per share $ 0.81     $ 0.76  
           
    Note: We use non-GAAP financial measures of operating performance. Non-GAAP measures do not replace and are not superior to the presentation of our GAAP financial results, but are provided to improve overall understanding of the Company’s current financial performance.
           
    OTC MARKETS GROUP INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (in thousands, except share information)
           
      March 31,   December 31,
        2025       2024  
    Assets      
    Current assets      
    Cash and cash equivalents $ 29,016     $ 34,522  
    Short-term investments   3,871       4,513  
    Accounts receivable, net of allowance for credit losses of $462 and $326   9,268       8,097  
    Prepaid income taxes   430       244  
    Prepaid expenses and other current assets   2,771       2,237  
    Total current assets   45,356       49,613  
    Property and equipment, net   6,697       7,096  
    Operating lease right-of-use assets   10,597       10,951  
    Deferred tax assets, net   10,573       10,120  
    Goodwill   3,984       3,984  
    Intangible assets, net   6,684       6,829  
    Long-term restricted cash   1,606       1,606  
    Other assets   553       543  
    Total Assets $ 86,050     $ 90,742  
           
    Liabilities and stockholders’ equity      
    Current liabilities      
    Accounts payable $ 854     $ 1,175  
    Income taxes payable   1,457       54  
    Accrued expenses and other current liabilities   7,388       13,425  
    Deferred revenue   27,001       29,084  
    Total current liabilities   36,700       43,738  
    Income tax reserve   962       927  
    Operating lease liabilities   9,964       10,360  
    Total Liabilities   47,626       55,025  
    Commitments and contingencies      
    Stockholders’ equity      
    Common stock – par value $0.01 per share      
    Class A – 17,000,000 authorized, 12,904,727 issued, 12,013,295 outstanding at      
    March 31, 2025; 12,815,075 issued, 11,979,165 outstanding at December 31, 2024   129       128  
    Additional paid-in capital   36,889       35,127  
    Retained earnings   27,078       23,200  
    Treasury stock – 891,432 shares at March 31, 2025 and 835,910 shares at December 31, 2024   (25,672 )     (22,738 )
    Total Stockholders’ Equity   38,424       35,717  
    Total Liabilities and Stockholders’ Equity $ 86,050     $ 90,742  

    The MIL Network –

  • MIL-OSI: StoneX Group Inc. Reports Fiscal 2025 Second Quarter Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Quarterly Net Operating Revenues of $487.3 million, up 15%  

    Quarterly Net Income of $71.7 million, ROE of 15.7%

    Quarterly Diluted EPS of $1.41 per share, up 29%

    NEW YORK, May 07, 2025 (GLOBE NEWSWIRE) — StoneX Group Inc. (the “Company”; NASDAQ: SNEX), a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise, today announced its financial results for the fiscal year 2025 second quarter ended March 31, 2025.

    Sean O’Connor, the Company’s Executive Vice-Chairman of the Board, stated, “Our fiscal second quarter marked a continuation of StoneX’s sustained growth and success, with net income and diluted EPS up, 35% and 29%, respectively, driven by solid performance across a wide range of our products and segments. We believe this broad-based strength in our financial performance speaks to the resilience and adaptability of our business model in an ever-changing marketplace.

    Over the last several years, though we have benefited from a rising interest rate environment, volatility, a key driver of our business, has been generally muted. Since the beginning of this fiscal year, increased market volatility, coupled with our continued strong client acquisition and engagement, has helped offset the decline in short term interest rates. If a period of sustained volatility is ahead of us, we believe this will be yet another positive driver for the continued growth in our business.

    We recently announced that we reached a definitive agreement to acquire R.J. O’Brien, the oldest futures brokerage in the U.S., which we believe positions us as a market leader in global derivatives. RJO brings an attractive financial profile to StoneX, having generated approximately $766 million in revenue and approximately $170 million in EBITDA during calendar 2024. This acquisition, which we anticipate will close in the second half of 2025, is expected to enhance our margins, EPS and return on equity with the addition of nearly $6 billion in client float and approximately 190 million in annual listed derivative contract volumes.”

    StoneX Group Inc. Summary Financials

    Condensed consolidated financial statements for the Company will be included in our Quarterly Report on Form 10-Q to be filed with the Securities and Exchange Commission (the “SEC”). Upon filing, the Quarterly Report on Form 10-Q will also be made available on the Company’s website at www.stonex.com.

      Three Months Ended March 31,   Six Months Ended March 31,
    (Unaudited) (in millions, except share and per share amounts)   2025       2024     %
    Change    		     2025       2024     %
    Change
    Revenues:                      
    Sales of physical commodities $ 35,992.6     $ 21,321.9     69%   $ 63,043.7     $ 40,142.8     57%
    Principal gains, net   300.5       281.8     7%     609.4       575.6     6%
    Commission and clearing fees   164.3       136.2     21%     313.6       265.9     18%
    Consulting, management, and account fees   44.3       40.2     10%     92.1       78.7     17%
    Interest income   389.0       326.0     19%     767.2       616.1     25%
    Total revenues   36,890.7       22,106.1     67%     64,826.0       41,679.1     56%
    Cost of sales of physical commodities   35,934.7       21,287.9     69%     62,925.7       40,076.7     57%
    Operating revenues   956.0       818.2     17%     1,900.3       1,602.4     19%
    Transaction-based clearing expenses   91.8       78.5     17%     178.3       152.8     17%
    Introducing broker commissions   45.5       42.0     8%     89.8       81.1     11%
    Interest expense   316.6       259.2     22%     622.8       495.2     26%
    Interest expense on corporate funding   14.8       16.2     (9)%     30.0       29.4     2%
    Net operating revenues   487.3       422.3     15%     979.4       843.9     16%
    Compensation and other expenses:                      
    Variable compensation and benefits   146.7       123.7     19%     280.0       245.6     14%
    Fixed compensation and benefits   120.4       110.7     9%     239.6       206.9     16%
    Trading systems and market information   19.5       19.4     1%     39.5       38.1     4%
    Professional fees   16.5       19.3     (15)%     35.5       35.0     1%
    Non-trading technology and support   20.9       18.0     16%     40.6       34.9     16%
    Occupancy and equipment rental   13.1       13.6     (4)%     26.1       21.3     23%
    Selling and marketing   13.4       15.6     (14)%     25.4       27.3     (7)%
    Travel and business development   7.1       7.1     —%     15.5       14.2     9%
    Communications   2.1       2.3     (9)%     4.2       4.5     (7)%
    Depreciation and amortization   15.6       12.3     27%     31.3       23.5     33%
    Bad debts (recoveries), net   0.1       (0.4 )   n/m     1.9       (0.7 )   n/m
    Other   14.8       15.3     (3)%     31.5       32.2     (2)%
    Total compensation and other expenses   390.2       356.9     9%     771.1       682.8     13%
    Other gains   —       6.9     (100)%     5.7       6.9     (17)%
    Income before tax   97.1       72.3     34%     214.0       168.0     27%
    Income tax expense   25.4       19.2     32%     57.2       45.8     25%
    Net income $ 71.7     $ 53.1     35%   $ 156.8     $ 122.2     28%
    Earnings per share:(1)                      
    Basic $ 1.49     $ 1.12     33%   $ 3.26     $ 2.59     26%
    Diluted $ 1.41     $ 1.09     29%   $ 3.10     $ 2.51     24%
    Weighted-average number of common shares outstanding:(1)                      
    Basic   46,789,431       45,710,784     2%     46,602,574       45,529,236     2%
    Diluted   49,376,423       47,248,414     5%     48,981,445       47,060,608     4%
                           
    Return on equity (“ROE”)(1)   15.7 %     14.0 %         17.5 %     16.7 %    
    ROE on tangible book value(1)   16.5 %     14.8 %         18.3 %     17.7 %    
    n/m = not meaningful to present as a percentage
    (1)   The Company calculates ROE on stated book value based on net income divided by average stockholders’ equity. For the calculation of ROE on tangible book value, the amount of goodwill and intangibles, net is excluded from stockholders’ equity.
    (2)   On March 21, 2025, the Company effected a three-for-two stock dividend to stockholders of record as of March 11, 2025. The stock split increased the number of shares of common stock outstanding. All share and per share amounts have been retroactively adjusted for the stock split.

    The following table presents our consolidated operating revenues by segment for the periods indicated.

      Three Months Ended March 31,   Six Months Ended March 31,
    (in millions)   2025       2024     %
    Change    		     2025       2024     %
    Change
    Segment operating revenues represented by:                      
    Commercial $ 248.6     $ 200.5     24%   $ 480.9     $ 398.9     21%
    Institutional   561.2       463.4     21%     1,100.8       899.1     22%
    Self-Directed/Retail   93.4       102.0     (8)%     217.5       194.5     12%
    Payments   50.3       49.3     2%     108.4       109.9     (1)%
    Corporate   16.7       14.4     16%     27.8       23.6     18%
    Eliminations   (14.2 )     (11.4 )   25%     (35.1 )     (23.6 )   49%
    Operating revenues $ 956.0     $ 818.2     17%   $ 1,900.3     $ 1,602.4     19%

    The following table presents our consolidated income by segment for the periods indicated.

      Three Months Ended March 31,   Six Months Ended March 31,
    (in millions)   2025       2024     %
    Change    		     2025       2024     %
    Change
    Segment income represented by:                      
    Commercial $ 96.7     $ 85.6     13%   $ 198.9     $ 172.8     15%
    Institutional   86.5       61.3     41%     164.6       126.5     30%
    Self-Directed/Retail   22.0       33.2     (34)%     78.9       61.9     27%
    Payments   24.5       24.6     —%     58.6       59.6     (2)%
    Total segment income $ 229.7     $ 204.7     12%   $ 501.0     $ 420.8     19%
    Reconciliation of segment income to income before tax:            
    Segment income $ 229.7     $ 204.7     12%   $ 501.0     $ 420.8     19%
    Net operating loss within Corporate (1)   (8.6 )     (12.8 )   (33)%     (29.7 )     (28.4 )   5%
    Overhead costs and expenses   (124.0 )     (119.6 )   4%     (257.3 )     (224.4 )   15%
    Income before tax $ 97.1     $ 72.3     34%   $ 214.0     $ 168.0     27%
    (1)   Includes interest expense on corporate funding.

    Key Operating Metrics

    The tables below present operating revenues disaggregated across the key products we provide to our clients and select operating data and metrics used by management in evaluating our performance, for the periods indicated.

      Three Months Ended March 31,   Six Months Ended March 31,
        2025       2024     %
    Change    		     2025       2024     %
    Change
    Operating Revenues (in millions):                      
    Listed derivatives $ 128.4     $ 111.7     15%   $ 240.2     $ 220.9     9%
    Over-the-counter (“OTC”) derivatives   60.3       53.0     14%     96.9       97.5     (1)%
    Securities   426.7       340.7     25%     828.5       656.9     26%
    FX/Contracts for difference (“CFD”) contracts   70.9       80.3     (12)%     169.5       154.9     9%
    Payments   49.2       48.4     2%     106.0       107.8     (2)%
    Physical contracts   72.6       45.9     58%     165.2       97.3     70%
    Interest/fees earned on client balances   101.7       104.2     (2)%     209.3       202.6     3%
    Other   43.7       31.0     41%     92.0       64.5     43%
    Corporate   16.7       14.4     16%     27.8       23.6     18%
    Eliminations   (14.2 )     (11.4 )   25%     (35.1 )     (23.6 )   49%
      $ 956.0     $ 818.2     17%   $ 1,900.3     $ 1,602.4     19%
    Volumes and Other Select Data:                              
    Listed derivatives (contracts, 000’s)   61,153       53,805     14%     114,333       104,563     9%
    Listed derivatives, average rate per contract (“RPC”)(1) $ 2.02     $ 1.98     2%   $ 2.02     $ 2.01     —%
    Average client equity – listed derivatives (millions) $ 6,639     $ 6,064     9%   $ 6,630     $ 6,117     8%
    OTC derivatives (contracts, 000’s)   897       810     11%     1,756       1,625     8%
    OTC derivatives, average RPC $ 68.35     $ 65.66     4%   $ 55.87     $ 60.28     (7)%
    Securities average daily volume (“ADV”) (millions) $ 8,915     $ 7,473     19%   $ 8,822     $ 6,838     29%
    Securities rate per million (“RPM”) (2) $ 279     $ 239     17%   $ 258     $ 265     (3)%
    Average money market/FDIC sweep client balances (millions) $ 1,283     $ 1,047     23%   $ 1,240     $ 1,054     18%
    FX/CFD contracts ADV (millions) $ 11,539     $ 10,453     10%   $ 11,613     $ 10,685     9%
    FX/CFD contracts RPM $ 97     $ 120     (19)%   $ 115     $ 114     1%
    Payments ADV (millions) $ 77     $ 64     20%   $ 81     $ 69     17%
    Payments RPM $ 10,526     $ 12,327     (15)%   $ 10,466     $ 12,453     (16)%
    (1)   Give-up fee revenues, related to contract execution for clients of other FCMs, as well as cash and voice brokerage revenues are excluded from the calculation of listed derivatives, average rate per contract.
    (2)   Interest expense associated with our fixed income activities is deducted from operating revenues in the calculation of Securities RPM while interest income related to securities lending is excluded.

    Interest expense

      Three Months Ended March 31,   Six Months Ended March 31,
    (in millions)   2025       2024     %
    Change    		     2025       2024     %
    Change
    Interest expense attributable to:                      
    Trading activities:                      
    Institutional dealer in fixed income securities $ 232.6     $ 198.0     17%   $ 456.2     $ 370.1     23%
    Securities borrowing   21.4       14.0     53%     43.4       28.6     52%
    Client balances on deposit   31.1       31.4     (1)%     64.9       67.7     (4)%
    Short-term financing facilities of subsidiaries and other direct interest of operating segments   31.5       15.8     99%     58.3       28.8     102%
        316.6       259.2     22%     622.8       495.2     26%
    Corporate funding   14.8       16.2     (9)%     30.0       29.4     2%
    Total interest expense $ 331.4     $ 275.4     20%   $ 652.8     $ 524.6     24%

    The increase in interest expense attributable to fixed income securities and securities borrowing was principally due to the growth in the size of the security repo and securities lending businesses. The increase in other direct interest expense attributable to operating segments principally resulted from an increase in the activities of our physical precious metals and commodities businesses.

    Net Operating Revenues

    The table below presents a disaggregation of consolidated net operating revenues used by management in evaluating our performance, for the periods indicated:

      Three Months Ended March 31,   Six Months Ended March 31,
        2025       2024     %
    Change    		     2025       2024     %
    Change
    Net Operating Revenues (in millions):                      
    Listed derivatives $ 60.3     $ 48.2     25%   $ 110.2     $ 98.6     12%
    OTC derivatives   60.2       53.0     14%     96.8       97.4     (1)%
    Securities   120.8       88.6     36%     222.6       184.5     21%
    FX/CFD contracts   62.5       71.8     (13)%     152.8       138.0     11%
    Payments   46.5       45.9     1%     100.7       102.9     (2)%
    Physical contracts   48.6       36.8     32%     125.7       78.8     60%
    Interest, net / fees earned on client balances   74.5       74.0     1%     151.9       137.0     11%
    Other   22.5       16.8     34%     48.4       35.1     38%
    Corporate   (8.6 )     (12.8 )   (33)%     (29.7 )     (28.4 )   5%
      $ 487.3     $ 422.3     15%   $ 979.4     $ 843.9     16%


    Variable vs. Fixed Expenses
    The table below sets forth our variable expenses and non-variable expenses as a percentage of total non-interest expenses for the periods indicated.

      Three Months Ended March 31,   Six Months Ended March 31,
    (in millions)   2025     % of
    Total    		     2024     % of
    Total    		     2025     % of
    Total    		     2024     % of
    Total
    Variable compensation and benefits $ 146.7     28%   $ 123.7     26%   $ 280.0     27%   $ 245.6     27%
    Transaction-based clearing expenses   91.8     17%     78.5     16%     178.3     17%     152.8     16%
    Introducing broker commissions   45.5     9%     42.0     9%     89.8     9%     81.1     9%
    Total variable expenses   284.0     54%     244.2     51%     548.1     53%     479.5     52%
    Fixed compensation and benefits   120.4     23%     110.7     23%     239.6     23%     206.9     23%
    Other fixed expenses   123.0     23%     122.9     26%     249.6     24%     231.0     25%
    Bad debts (recoveries), net   0.1     —%     (0.4 )   —%     1.9     —%     (0.7 )   —%
    Total non-variable expenses   243.5     46%     233.2     49%     491.1     47%     437.2     48%
    Total non-interest expenses $ 527.5     100%   $ 477.4     100%   $ 1,039.2     100%   $ 916.7     100%


    Other Gains, net

    The results of the six months ended March 31, 2025 included nonrecurring gains of $5.7 million resulting from proceeds received from class action settlements.

    Segment Results

    Our business activities are managed through four operating segments, including Commercial, Institutional, Self-Directed/Retail and Payments.

    The tables below present the financial performance, a disaggregation of operating revenues, select operating data and metrics, and a disaggregation of net operating revenue used by management in evaluating the performance of our segments, for the periods indicated. Additional information on the performance of our segments will be included in our Quarterly Report on Form 10-Q to be filed with the SEC.
    Commercial

      Three Months Ended March 31,   Six Months Ended March 31,
    (in millions)   2025       2024     %
    Change    		     2025       2024     %
    Change
    Revenues:                      
    Sales of physical commodities $ 35,955.5     $ 21,310.0     69%   $ 62,989.2     $ 40,119.5     57%
    Principal gains, net   89.6       73.7     22%     156.8       150.8     4%
    Commission and clearing fees   54.3       47.0     16%     103.0       91.3     13%
    Consulting, management and account fees   6.6       7.1     (7)%     13.1       12.9     2%
    Interest income   46.0       41.3     11%     98.9       82.6     20%
    Total revenues   36,152.0       21,479.1     68%     63,361.0       40,457.1     57%
    Cost of sales of physical commodities   35,903.4       21,278.6     69%     62,880.1       40,058.2     57%
    Operating revenues   248.6       200.5     24%     480.9       398.9     21%
    Transaction-based clearing expenses   19.1       16.9     13%     36.7       32.7     12%
    Introducing broker commissions   13.1       10.9     20%     24.4       21.3     15%
    Interest expense   23.1       8.5     172%     37.3       17.3     116%
    Net operating revenues   193.3       164.2     18%     382.5       327.6     17%
    Variable compensation and benefits   53.4       44.9     19%     96.9       81.9     18%
    Net contribution   139.9       119.3     17%     285.6       245.7     16%
    Fixed compensation and benefits   19.7       16.5     19%     36.7       32.0     15%
    Other fixed expenses   23.8       24.0     (1)%     49.1       47.8     3%
    Bad debts (recoveries), net   (0.3 )     0.1     n/m     0.9       —     n/m
    Non-variable direct expenses   43.2       40.6     6%     86.7       79.8     9%
    Other gain   —       6.9     (100)%     —       6.9     (100)%
    Segment income   96.7       85.6     13%     198.9       172.8     15%
    Allocation of overhead costs   9.9       8.9     11%     19.6       17.7     11%
    Segment income, less allocation of overhead costs $ 86.8     $ 76.7     13%   $ 179.3     $ 155.1     16%
      Three Months Ended March 31,   Six Months Ended March 31,
        2025       2024     %
    Change    		     2025       2024     %
    Change
    Operating Revenues (in millions):                      
    Listed derivatives $ 75.5     $ 59.1     28%   $ 137.7     $ 118.5     16%
    OTC derivatives   60.3       53.0     14%     96.9       97.5     (1)%
    Physical contracts   71.4       43.9     63%     161.5       94.5     71%
    Interest/fees earned on client balances   34.7       38.1     (9)%     71.3       75.3     (5)%
    Other   6.7       6.4     5%     13.5       13.1     3%
      $ 248.6     $ 200.5     24%   $ 480.9     $ 398.9     21%
                           
    Volumes and Other Select Data:    
    Listed derivatives (contracts, 000’s)   11,434       9,635     19%     22,042       19,157     15%
    Listed derivatives, average RPC (1) $ 6.35     $ 5.91     7%   $ 6.02     $ 5.94     1%
    Average client equity – listed derivatives (millions) $ 1,737     $ 1,684     3%   $ 1,732     $ 1,692     2%
    OTC derivatives (contracts, 000’s)   897       810     11%     1,756       1,625     8%
    OTC derivatives, average RPC $ 68.35     $ 65.66     4%   $ 55.87     $ 60.28     (7)%
    (1)   Give-up fee revenues, related to contract execution for clients of other FCMs, as well as cash and voice brokerage revenues are excluded from the calculation of listed derivatives, average RPC.
      Three Months Ended March 31,   Six Months Ended March 31,
        2025       2024     %
    Change    		     2025       2024     %
    Change
    Net Operating Revenues (in millions):                      
    Listed derivatives $ 46.6     $ 34.3     36%   $ 83.9     $ 71.1     18%
    OTC derivatives   60.2       53.0     —%     96.8       97.4     (1)%
    Physical contracts   47.6       35.0     36%     122.4       76.3     60%
    Interest/fees earned on client balances   32.1       35.2     (9)%     65.9       69.5     (5)%
    Other   6.8       6.7     1%     13.5       13.3     2%
      $ 193.3     $ 164.2     18%   $ 382.5     $ 327.6     17%


    Institutional

      Three Months Ended March 31,   Six Months Ended March 31,
    (in millions)   2025       2024     %
    Change    		     2025       2024     %
    Change
    Revenues:                      
    Sales of physical commodities $ —     $ —     —%   $ —     $ —     —%
    Principal gains, net   107.9       97.6     11%     216.5       200.8     8%
    Commission and clearing fees   95.4       74.8     28%     181.1       148.1     22%
    Consulting, management and account fees   20.5       17.7     16%     40.8       35.0     17%
    Interest income   337.4       273.3     23%     662.4       515.2     29%
    Total revenues   561.2       463.4     21%     1,100.8       899.1     22%
    Cost of sales of physical commodities   —       —     —%     —       —     —%
    Operating revenues   561.2       463.4     21%     1,100.8       899.1     22%
    Transaction-based clearing expenses   67.1       56.0     20%     130.1       108.9     19%
    Introducing broker commissions   7.2       8.0     (10)%     15.3       15.7     (3)%
    Interest expense   295.9       249.6     19%     590.4       476.1     24%
    Net operating revenues   191.0       149.8     28%     365.0       298.4     22%
    Variable compensation and benefits   62.5       47.3     32%     118.7       95.7     24%
    Net contribution   128.5       102.5     25%     246.3       202.7     22%
    Fixed compensation and benefits   21.8       20.4     7%     40.4       36.8     10%
    Other fixed expenses   20.3       22.2     (9)%     42.7       41.2     4%
    Bad debts (recoveries), net   (0.1 )     (1.4 )   (93)%     (0.1 )     (1.8 )   (94)%
    Non-variable direct expenses   42.0       41.2     2%     83.0       76.2     9%
    Other gain   —       —     —%     1.3       —     n/m
    Segment income   86.5       61.3     41%   $ 164.6     $ 126.5     30%
    Allocation of overhead costs   15.1       13.3     14%     29.9       26.1     15%
    Segment income, less allocation of overhead costs $ 71.4     $ 48.0     49%   $ 134.7     $ 100.4     34%
      Three Months Ended March 31,   Six Months Ended March 31,
        2025       2024     %
    Change    		     2025       2024     %
    Change
    Operating Revenues (in millions):                      
    Listed derivatives $ 52.9     $ 52.6     1%   $ 102.5     $ 102.4     —%
    Securities   398.8       314.9     27%     772.3       608.5     27%
    FX contracts   7.9       7.6     4%     17.5       15.6     12%
    Interest/fees earned on client balances   66.4       65.4     2%     136.7       125.9     9%
    Other   35.2       22.9     54%     71.8       46.7     54%
      $ 561.2     $ 463.4     21%   $ 1,100.8     $ 899.1     22%
                           
    Volumes and Other Select Data:                    
    Listed derivatives (contracts, 000’s)   49,719       44,170     13%     92,291       85,406     8%
    Listed derivatives, average RPC (1) $ 1.02     $ 1.12     (9)%   $ 1.07     $ 1.12     (4)%
    Average client equity – listed derivatives (millions) $ 4,902     $ 4,380     12%   $ 4,898     $ 4,425     11%
    Securities ADV (millions) $ 8,915     $ 7,473     19%   $ 8,822     $ 6,838     29%
    Securities RPM (2) $ 279     $ 239     17%   $ 258     $ 265     (3)%
    Average money market/FDIC sweep client balances (millions) $ 1,283     $ 1,047     23%   $ 1,240     $ 1,054     18%
    FX contracts ADV (millions) $ 2,948     $ 4,065     (27)%   $ 3,524     $ 4,017     (12)%
    FX contracts RPM $ 41     $ 30     37%   $ 38     $ 32     19%
    (1)   Give-up fees, related to contract execution for clients of other FCMs, are excluded from the calculation of listed derivatives, average RPC.
    (2)   Interest expense associated with our fixed income activities is deducted from operating revenues in the calculation of Securities RPM, while interest income related to securities lending is excluded.
     
      Three Months Ended March 31,   Six Months Ended March 31,
        2025       2024     %
    Change    		     2025       2024     %
    Change
    Net Operating Revenues (in millions):                      
    Listed derivatives $ 13.7     $ 13.9     (1)%   $ 26.3     $ 27.5     (4)%
    Securities   114.5       82.8     38%     210.1       174.2     21%
    FX contracts   7.1       6.6     8%     15.6       13.5     16%
    Interest/fees earned on client balances   41.8       38.1     10%     84.7       66.1     28%
    Other   13.9       8.4     65%     28.3       17.1     65%
      $ 191.0     $ 149.8     28%   $ 365.0     $ 298.4     22%

    Self-Directed/Retail

      Three Months Ended March 31,   Six Months Ended March 31,
    (in millions)   2025       2024     %
    Change    		     2025       2024     %
    Change
    Revenues:                      
    Sales of physical commodities $ 37.1     $ 11.9     212%   $ 54.5     $ 23.3     134%
    Principal gains, net   50.2       61.8     (19)%     129.7       117.4     10%
    Commission and clearing fees   13.7       13.7     —%     27.2       24.9     9%
    Consulting, management and account fees   16.0       13.9     15%     35.3       28.0     26%
    Interest income   7.7       10.0     (23)%     16.4       19.4     (15)%
    Total revenues   124.7       111.3     12%     263.1       213.0     24%
    Cost of sales of physical commodities   31.3       9.3     237%     45.6       18.5     146%
    Operating revenues   93.4       102.0     (8)%     217.5       194.5     12%
    Transaction-based clearing expenses   3.2       3.5     (9)%     6.6       7.0     (6)%
    Introducing broker commissions   24.2       22.4     8%     48.2       42.8     13%
    Interest expense   2.0       1.8     11%     4.1       3.4     21%
    Net operating revenues   64.0       74.3     (14)%     158.6       141.3     12%
    Variable compensation and benefits   4.6       4.4     5%     7.6       8.8     (14)%
    Net contribution   59.4       69.9     (15)%     151.0       132.5     14%
    Fixed compensation and benefits   8.9       11.3     (21)%     18.3       21.6     (15)%
    Other fixed expenses   27.9       25.4     10%     57.1       48.9     17%
    Bad debts, net of recoveries   0.6       —     n/m     1.1       0.1     n/m
    Non-variable direct expenses   37.4       36.7     2%     76.5       70.6     8%
    Other gain   —       —     —%     4.4       —     n/m
    Segment income   22.0       33.2     (34)%     78.9       61.9     27%
    Allocation of overhead costs   12.7       12.0     6%     25.3       23.5     8%
    Segment income, less allocation of overhead costs $ 9.3     $ 21.2     (56)%   $ 53.6     $ 38.4     40%
      Three Months Ended March 31,   Six Months Ended March 31,
        2025       2024     %
    Change    		     2025       2024     %
    Change
    Operating Revenues (in millions):                      
    Securities $ 27.9     $ 25.8     8%   $ 56.2     $ 48.4     16%
    FX/CFD contracts   63.0       72.7     (13)%     152.0       139.3     9%
    Physical contracts   1.2       2.0     (40)%     3.7       2.8     32%
    Interest/fees earned on client balances   0.6       0.7     (14)%     1.3       1.4     (7)%
    Other   0.7       0.8     (13)%     4.3       2.6     65%
      $ 93.4     $ 102.0     (8)%   $ 217.5     $ 194.5     12%
                           
    Volumes and Other Select Data:    
    FX/CFD contracts ADV (millions) $ 8,591     $ 6,388     34%   $ 8,089     $ 6,668     21%
    FX/CFD contracts RPM $ 116     $ 177     (34)%   $ 149     $ 164     (9)%
      Three Months Ended March 31,   Six Months Ended March 31,
        2025       2024     %
    Change    		     2025       2024     %
    Change
    Net Operating Revenues (in millions):                      
    Securities $ 6.3     $ 5.8     9%   $ 12.5     $ 10.3     21%
    FX/CFD contracts   55.4       65.2     (15)%     137.2       124.5     10%
    Physical contracts   1.0       1.8     (44)%     3.3       2.5     32%
    Interest/fees earned on client balances   0.6       0.7     (14)%     1.3       1.4     (7)%
    Other   0.7       0.8     (13)%     4.3       2.6     65%
      $ 64.0     $ 74.3     (14)%   $ 158.6     $ 141.3     12%


    Payments

      Three Months Ended March 31,   Six Months Ended March 31,
    (in millions)   2025       2024     %
    Change    		     2025       2024     %
    Change
    Revenues:                      
    Sales of physical commodities $ —     $ —     —%   $ —     $ —     —%
    Principal gains, net   47.7       46.5     3%     102.1       104.0     (2)%
    Commission and clearing fees   1.6       1.4     14%     3.4       2.9     17%
    Consulting, management, account fees   0.5       0.8     (38)%     1.8       1.7     6%
    Interest income   0.5       0.6     (17)%     1.1       1.3     (15)%
    Total revenues   50.3       49.3     2%     108.4       109.9     (1)%
    Cost of sales of physical commodities   —       —     —%     —       —     —%
    Operating revenues   50.3       49.3     2%     108.4       109.9     (1)%
    Transaction-based clearing expenses   1.7       1.7     —%     3.5       3.5     —%
    Introducing broker commissions   1.0       0.7     43%     1.9       1.3     46%
    Interest expense   —       0.1     (100)%     —       0.1     (100)%
    Net operating revenues   47.6       46.8     2%     103.0       105.0     (2)%
    Variable compensation and benefits   8.8       9.5     (7)%     17.9       20.1     (11)%
    Net contribution   38.8       37.3     4%     85.1       84.9     —%
    Fixed compensation and benefits   7.4       7.3     1%     14.0       14.6     (4)%
    Other fixed expenses   7.0       4.5     56%     12.5       9.7     29%
    Bad debts, net of recoveries   (0.1 )     0.9     n/m     —       1.0     (100)%
    Total non-variable direct expenses   14.3       12.7     13%     26.5       25.3     5%
    Segment income   24.5       24.6     —%     58.6       59.6     (2)%
    Allocation of overhead costs   5.7       5.2     10%     11.3       10.3     10%
    Segment income, less allocation of overhead costs $ 18.8     $ 19.4     (3)%   $ 47.3     $ 49.3     (4)%
      Three Months Ended March 31,   Six Months Ended March 31,
        2025       2024     %
    Change    		     2025       2024     %
    Change
    Operating Revenues (in millions):                      
    Payments $ 49.2     $ 48.4     2%   $ 106.0     $ 107.8     (2)%
    Other   1.1       0.9     22%     2.4       2.1     14%
      $ 50.3     $ 49.3     2%   $ 108.4     $ 109.9     (1)%
                           
    Volumes and Other Select Data:    
    Payments ADV (millions) $ 77     $ 64     20%   $ 81     $ 69     17%
    Payments RPM $ 10,526     $ 12,327     (15)%   $ 10,466     $ 12,453     (16)%
      Three Months Ended March 31,   Six Months Ended March 31,
        2025       2024     %
    Change    		     2025       2024     %
    Change
    Net Operating Revenues (in millions):                      
    Payments $ 46.5     $ 45.9     1%   $ 100.7     $ 102.9     (2)%
    Other   1.1       0.9     22%     2.3       2.1     10%
      $ 47.6     $ 46.8     2%   $ 103.0     $ 105.0     (2)%


    Overhead Costs and Expenses

    We incur overhead costs and expenses, including certain shared services such as information technology, accounting and treasury, credit and risk, legal and compliance, and human resources and other activities. The following table provides information regarding overhead costs and expenses. The allocation of overhead costs to operating segments includes costs associated with compliance, technology, and credit and risk costs. The share of allocated costs is based on resources consumed by the relevant businesses. In addition, the allocation of human resources and occupancy costs is principally based on employee costs within the relevant businesses.

      Three Months Ended March 31,   Six Months Ended March 31,
    (in millions)   2025       2024     %
    Change    		     2025       2024     %
    Change
    Compensation and benefits:                      
    Variable compensation and benefits $ 15.9     $ 16.4     (3)%   $ 36.1     $ 35.8     1%
    Fixed compensation and benefits   55.5       48.7     14%     116.5       89.3     30%
        71.4       65.1     10%     152.6       125.1     22%
    Other expenses:                      
    Occupancy and equipment rental   12.1       13.1     (8)%     24.2       20.4     19%
    Non-trading technology and support   16.1       13.6     18%     31.4       26.6     18%
    Professional fees   8.7       8.3     5%     17.4       15.8     10%
    Depreciation and amortization   6.8       6.1     11%     13.2       11.6     14%
    Communications   1.4       1.6     (13)%     2.9       3.2     (9)%
    Selling and marketing   2.3       4.3     (47)%     3.2       5.6     (43)%
    Trading systems and market information   1.8       1.5     20%     3.4       3.2     6%
    Travel and business development   2.2       2.1     5%     4.8       3.8     26%
    Other   1.2       3.9     (69)%     4.2       9.1     (54)%
        52.6       54.5     (3)%     104.7       99.3     5%
    Overhead costs and expenses   124.0       119.6     4%     257.3       224.4     15%
    Allocation of overhead costs   (43.4 )     (39.4 )   10%     (86.1 )     (77.6 )   11%
    Overhead costs and expense, net of allocation to operating segments $ 80.6     $ 80.2     —%   $ 171.2     $ 146.8     17%


    Balance Sheet Summary

    The following table below provides a summary of asset, liability and stockholders’ equity information for the periods indicated.

    (Unaudited) (in millions, except for share and per share amounts) March 31, 2025   September 30, 2024
    Summary asset information:      
    Cash and cash equivalents $ 1,307.3     $ 1,269.0  
    Cash, securities and other assets segregated under federal and other regulations $ 2,850.3     $ 2,841.2  
    Securities purchased under agreements to resell $ 6,917.6     $ 5,201.5  
    Securities borrowed $ 1,803.9     $ 1,662.3  
    Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net $ 7,261.2     $ 7,283.2  
    Receivables from clients, net and notes receivable, net $ 1,354.9     $ 1,013.1  
    Financial instruments owned, at fair value $ 8,200.9     $ 6,767.1  
    Physical commodities inventory, net $ 796.2     $ 681.1  
    Property and equipment, net $ 146.3     $ 143.1  
    Operating right of use assets $ 159.8     $ 157.0  
    Goodwill and intangible assets, net $ 90.0     $ 80.6  
    Other $ 394.5     $ 367.1  
           
    Summary liability and stockholders’ equity information:      
    Accounts payable and other accrued liabilities $ 569.9     $ 548.8  
    Operating lease liabilities $ 201.9     $ 195.9  
    Payables to clients $ 10,712.6     $ 10,345.9  
    Payables to broker-dealers, clearing organizations and counterparties $ 578.7     $ 734.2  
    Payables to lenders under loans $ 340.9     $ 338.8  
    Senior secured borrowings, net $ 543.6     $ 543.1  
    Securities sold under agreements to repurchase $ 11,137.3     $ 8,581.3  
    Securities loaned $ 1,509.9     $ 1,615.9  
    Financial instruments sold, not yet purchased, at fair value $ 3,806.1     $ 2,853.3  
    Stockholders’ equity $ 1,882.0     $ 1,709.1  
           
    Common stock outstanding – shares   48,765,820       47,811,539  
    Net asset value per share $ 38.59     $ 35.75  

    Conference Call & Web Cast

    A conference call to discuss the Company’s financial results will be held tomorrow, Thursday, May 8, 2025 at 9:00 a.m. Eastern time. The call may also include discussion of Company developments, and forward-looking and other material information about business and financial matters. A live webcast of the conference call as well as additional information to review during the call will be made available in PDF form on-line on the Company’s corporate web site at https://register-conf.media-server.com/register/BIcee2351db2614b049aa108c318550f21 approximately ten minutes prior to the start time. Participants may preregister for the conference call here.

    For those who cannot access the live broadcast, a replay of the call will be available at https://www.stonex.com.

    About StoneX Group Inc.

    StoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise. The Company strives to be the one trusted partner to its clients, providing its network, product and services to allow them to pursue trading opportunities, manage their market risks, make investments and improve their business performance. A Fortune-500 company headquartered in New York City and listed on the Nasdaq Global Select Market (NASDAQ:SNEX), StoneX Group Inc. and its more than 4,700 employees serve more than 54,000 commercial, institutional, and payments clients, and more than 400,000 retail accounts, from more than 80 offices spread across six continents. Further information on the Company is available at www.stonex.com.

    Forward Looking Statements

    This press release includes 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, such as those pertaining to the Company’s financial condition, results of operations, business strategy, financial needs of the Company, the anticipated timing of the Company’s acquisition of R.J. O’Brien and the impact of the transaction. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words “believe,” “expect,” “anticipate,” “should,” “plan,” “will,” “may,” “could,” “intend,” “estimate,” “predict,” “potential,” “continue” or the negative of these terms and similar expressions, as they relate to StoneX Group Inc., are intended to identify forward-looking statements.

    These forward-looking statements are largely based on current expectations and projections about future events and financial trends that may affect the financial condition, results of operations, business strategy and financial needs of the Company. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the control of the Company, including adverse changes in economic, political and market conditions, including losses from our market-making and trading activities arising from counterparty failures, global trade policies and tariffs, the loss of key personnel, the impact of increasing competition, the impact of changes in government regulation, uncertainty concerning fiscal or monetary policies established by central banks and financial regulators, the possibility of liabilities arising from violations of foreign, United States (“U.S.”) federal and U.S. state securities laws, the impact of changes in technology in the securities and commodities trading industries, and other risks discussed in our filings with the SEC, including Part I, Item 1A of our Annual Report on Form 10-K for the year ended September 30, 2024. Although we believe that our forward-looking statements are based upon reasonable assumptions regarding our business and future market conditions, there can be no assurances that our actual results will not differ materially from any results expressed or implied by our forward-looking statements.

    These forward-looking statements speak only as of the date of this press release. StoneX Group Inc. undertakes no obligation to update or revise any forward-looking statements, 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. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

    StoneX Group Inc.

    Investor inquiries:

    Kevin Murphy
    (212) 403 – 7296
    kevin.murphy@stonex.com

    SNEX-G

    The MIL Network –

  • MIL-OSI: MKS Instruments Reports First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    • Quarterly revenue of $936 million, at the high end of guidance
    • Quarterly GAAP net income of $52 million and net income per diluted share of $0.77, each above the midpoint of guidance
    • Quarterly Adjusted EBITDA of $236 million, at the high end of guidance, and Non-GAAP net earnings per diluted share of $1.71, above the high end of guidance

    ANDOVER, Mass., May 07, 2025 (GLOBE NEWSWIRE) — MKS Instruments, Inc. (NASDAQ: MKSI), a global provider of enabling technologies that transform our world, today reported first quarter 2025 financial results.

    “We maintained our recent momentum in the first quarter with solid revenue performance that was at the high end of our guidance, led by strong year-over-year growth in both our Semiconductor and Electronics & Packaging end markets,” said John T.C. Lee, President and Chief Executive Officer. “Our team is executing well and capturing opportunities across memory and foundry as well as advanced packaging necessary to support AI applications.”

    Mr. Lee added, “We exited the quarter seeing pockets of demand improvement in our Semiconductor and Electronics and Packaging markets. We are taking active steps to mitigate the impacts from new trade policies. This situation remains dynamic, but we are confident in our ability to manage through, supported by our resilient global manufacturing and supply chain, strong customer relationships and broad, deep product portfolio.”

    “MKS has a strong track record of financial discipline and execution which was once again reflected in our first quarter results,” said Ram Mayampurath, Executive Vice President, Chief Financial Officer and Treasurer.

    Mr. Mayampurath added, “Our GAAP and Non-GAAP gross margins were at the high end of our guidance range and our GAAP and Non-GAAP operating income exceeded our guidance midpoints. Our second quarter guidance reflects an overall stable demand environment and strong business fundamentals while also factoring in our current view of potential impacts from evolving trade policies. We remain focused on managing profitability and cash generation to delever and strengthen our balance sheet.”

    Selected GAAP and Non-GAAP Financial Measures
    (In millions, except per share data)
     
      Q1 2025   Q4 2024   Q1 2024
    Net Revenues          
    Semiconductor $ 413     $ 400     $ 351  
    Electronics & Packaging   253       254       208  
    Specialty Industrial   270       281       309  
    Total net revenues $ 936     $ 935     $ 868  
    GAAP Financial Measures          
    Gross margin   47.4 %     47.2 %     47.8 %
    Operating margin   11.9 %     14.5 %     12.2 %
    Net income $ 52     $ 90     $ 15  
    Net income per diluted share $ 0.77     $ 1.33     $ 0.22  
    Non-GAAP Financial Measures          
    Gross margin   47.4 %     47.2 %     47.8 %
    Operating margin   20.2 %     21.3 %     20.2 %
    Net earnings $ 116     $ 146     $ 79  
    Net earnings per diluted share $ 1.71     $ 2.15     $ 1.18  
                           


    Additional Financial Information

    At March 31, 2025, the Company had $655 million in cash and cash equivalents, $3.2 billion of secured term loan principal outstanding, $1.4 billion of convertible senior notes outstanding and up to $675 million of additional borrowing capacity under a revolving credit facility, subject to certain leverage ratio requirements. During the first quarter of 2025, the Company completed the repricing of its USD term loan B and EUR term loan B and made a voluntary principal prepayment of $100 million on its USD term loan B. Additionally, the Company repurchased approximately 546,000 shares of its common stock for approximately $45 million, and paid a cash dividend of $15 million or $0.22 per diluted share.

    Second Quarter 2025 Guidance

    • Revenue of $925 million, plus or minus $40 million
    • Gross margin of 46.5%, plus or minus 1.0%
    • GAAP operating expenses of $316 million, plus or minus $5 million and Non-GAAP operating expenses of $252 million, plus or minus $5 million
    • GAAP net income of $55 million, plus or minus $21 million and Non-GAAP net earnings of $106 million, plus or minus $19 million
    • GAAP net income per diluted share of $0.81, plus or minus $0.32 and Non-GAAP net earnings per diluted share of $1.56, plus or minus $0.28
    • Adjusted EBITDA of $216 million, plus or minus $23 million

    The guidance for the second quarter is based on the current business environment, including the impact of U.S. import tariffs and the imposition of retaliatory actions taken by other countries up through but not including the date of this release. The Company will continue to monitor and adapt to changes in the business environment as needed.

    Conference Call Details

    A conference call with management will be held on Thursday, May 8, 2025 at 8:30 a.m. (Eastern Time). To participate in the call by phone, participants should visit the Investor Relations section of MKS’ website at investor.mks.com and click on Events & Presentations, where you will be able to register online and receive dial-in details. We encourage participants to register and dial in to the conference call at least 15 minutes before the start of the call to ensure a timely connection. A live and archived webcast and related presentation materials will be available on the Investor Relations section of the MKS website.

    About MKS Instruments

    MKS Instruments enables technologies that transform our world. We deliver foundational technology solutions to leading edge semiconductor manufacturing, electronics and packaging, and specialty industrial applications. We apply our broad science and engineering capabilities to create instruments, subsystems, systems, process control solutions and specialty chemicals technology that improve process performance, optimize productivity and enable unique innovations for many of the world’s leading technology and industrial companies. Our solutions are critical to addressing the challenges of miniaturization and complexity in advanced device manufacturing by enabling increased power, speed, feature enhancement, and optimized connectivity. Our solutions are also critical to addressing ever-increasing performance requirements across a wide array of specialty industrial applications. Additional information can be found at www.mks.com.

    Use of Non-GAAP Financial Results

    This press release includes financial measures that are not in accordance with U.S. generally accepted accounting principles (“Non-GAAP financial measures”). These Non-GAAP financial measures should be viewed in addition to, and not as a substitute for, MKS’ reported results under U.S. generally accepted accounting principles (“GAAP”), and may be different from Non-GAAP financial measures used by other companies. In addition, these Non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. MKS management believes the presentation of these Non-GAAP financial measures is useful to investors for comparing prior periods and analyzing ongoing business trends and operating results. For further information regarding these Non-GAAP financial measures, please refer to the tables presenting reconciliations of our Non-GAAP results to our GAAP results and the “Notes on Our Non-GAAP Financial Information” at the end of this press release.

    SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS
     

    This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding the future financial performance, business prospects and growth of MKS Instruments, Inc. (“MKS,” the “Company,” “our,” or “we”). These statements are only predictions based on current assumptions and expectations. Any statements that are not statements of historical fact (including statements containing the words “will,” “projects,” “intends,” “believes,” “plans,” “anticipates,” “expects,” “estimates,” “forecasts,” “continues” and similar expressions) should be considered to be forward-looking statements. Actual events or results may differ materially from those in the forward-looking statements set forth herein. Among the important factors that could cause actual events to differ materially from those in the forward-looking statements that we make are the level and terms of our substantial indebtedness and our ability to service such debt; our entry into the chemicals technology business through our acquisition of Atotech Limited (“Atotech”) in August 2022 (the “Atotech Acquisition”), which has exposed us to significant additional liabilities; the risk that we are unable to realize the anticipated benefits of the Atotech Acquisition; risks related to cybersecurity, data privacy and intellectual property; competition from larger, more advanced or more established companies in our markets; the ability to successfully grow our business, including through growth of the Atotech business, and financial risks associated with that acquisition and potential future acquisitions, including goodwill and intangible asset impairments; manufacturing and sourcing risks, including those associated with limited and sole source suppliers and the impact and duration of supply chain disruptions, component shortages, and price increases; changes in global demand; risks associated with doing business internationally, including geopolitical conflicts, such as the conflict in the Middle East, trade compliance, trade protection measures, such as import tariffs by the United States or retaliatory actions taken by other countries, regulatory restrictions on our products, components or markets, particularly the semiconductor market, and unfavorable currency exchange and tax rate fluctuations, which risks become more significant as we grow our business internationally and in China specifically; conditions affecting the markets in which we operate, including fluctuations in capital spending in the semiconductor, electronics manufacturing and automotive industries, and fluctuations in sales to our major customers; disruptions or delays from third-party service providers upon which our operations may rely; the ability to anticipate and meet customer demand; the challenges, risks and costs involved with integrating or transitioning global operations of the companies we have acquired; risks associated with the attraction and retention of key personnel; potential fluctuations in quarterly results; dependence on new product development; rapid technological and market change; acquisition strategy; volatility of stock price; risks associated with chemical manufacturing and environmental regulation compliance; risks related to defective products; financial and legal risk management; and the other important factors described under the heading “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 and any subsequent Quarterly Reports on Form 10-Q, each as filed with the U.S. Securities and Exchange Commission. MKS is under no obligation to, and expressly disclaims any obligation to, update or alter these forward-looking statements, whether as a result of new information, future events or otherwise, even if subsequent events cause our views to change, after the date of this press release. Amounts reported in this press release are preliminary and subject to finalization prior to the filing of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025.

    Company Contact:
    Paretosh Misra
    Vice President, Investor Relations
    Telephone: (978) 284-4705
    Email: paretosh.misra@mks.com

     
     
    MKS Instruments, Inc.
    Unaudited Consolidated Statements of Operations
    (In millions, except per share data)
               
      Three Months Ended
      March 31,   December 31,   March 31,
        2025       2024       2024  
    Net revenues:          
    Products $ 819     $ 824     $ 754  
    Services   117       111       114  
    Total net revenues   936       935       868  
    Cost of revenues:          
    Products   437       443       398  
    Services   55       51       55  
    Total cost of revenues (exclusive of amortization shown separately below)   492       494       453  
    Gross profit   444       441       415  
    Research and development   70       65       70  
    Selling, general and administrative   185       176       170  
    Acquisition and integration costs   —       3       1  
    Restructuring and other   16       1       3  
    Fees and expenses related to amendments to the Term Loan Facility   2       —       3  
    Amortization of intangible assets   60       61       62  
    Income from operations   111       135       106  
    Interest income   (3 )     (5 )     (6 )
    Interest expense   53       54       87  
    Loss on extinguishment of debt   3       4       9  
    Other (income) expense, net   (1 )     3       (3 )
    Income before income taxes   59       79       19  
    Provision (benefit) for income taxes   7       (11 )     4  
    Net income $ 52     $ 90     $ 15  
    Net income per share:          
    Basic $ 0.77     $ 1.34     $ 0.22  
    Diluted $ 0.77     $ 1.33     $ 0.22  
    Cash dividends per common share $ 0.22     $ 0.22     $ 0.22  
    Weighted average shares outstanding:          
    Basic   67.4       67.4       67.0  
    Diluted   67.7       67.7       67.4  
               
    MKS Instruments, Inc.
    Unaudited Consolidated Balance Sheets
    (In millions)
           
           
      March 31,   December 31,
        2025       2024  
    ASSETS      
    Cash and cash equivalents $ 655     $ 714  
    Trade accounts receivable, net   639       615  
    Inventories   894       893  
    Other current assets   238       252  
    Total current assets   2,426       2,474  
    Property, plant and equipment, net   774       771  
    Right-of-use assets   239       238  
    Goodwill   2,496       2,479  
    Intangible assets, net   2,238       2,272  
    Other assets   383       356  
    Total assets $ 8,556     $ 8,590  
    LIABILITIES AND STOCKHOLDERS’ EQUITY      
    Short-term debt $ 50     $ 50  
    Accounts payable   323       341  
    Other current liabilities   408       384  
    Total current liabilities   781       775  
    Long-term debt, net   4,409       4,488  
    Non-current deferred taxes   502       504  
    Non-current accrued compensation   139       141  
    Non-current lease liabilities   211       211  
    Other non-current liabilities   160       149  
    Total liabilities   6,202       6,268  
    Stockholders’ equity:      
    Common stock   —       —  
    Additional paid-in capital   2,067       2,067  
    Retained earnings   512       503  
    Accumulated other comprehensive loss   (225 )     (248 )
    Total stockholders’ equity   2,354       2,322  
    Total liabilities and stockholders’ equity $ 8,556     $ 8,590  
           
    MKS Instruments, Inc.
    Unaudited Consolidated Statements of Cash Flows
    (In millions)
               
      Three Months Ended
      March 31,   December 31,   March 31,
        2025       2024       2024  
    Cash flows from operating activities:          
    Net income $ 52     $ 90     $ 15  
    Adjustments to reconcile net income to net cash provided by operating activities:          
    Depreciation and amortization   85       87       88  
    Unrealized loss (gain) on derivatives not designated as hedging instruments   2       11       3  
    Amortization of debt issuance costs and original issue discounts   6       7       8  
    Loss on extinguishment of debt   3       4       9  
    Stock-based compensation   22       11       15  
    Provision for excess and obsolete inventory   17       15       11  
    Deferred income taxes   (37 )     (58 )     (36 )
    Other   1       2       2  
    Changes in operating assets and liabilities, net of acquired assets and liabilities   (10 )     7       (48 )
    Net cash provided by operating activities   141       176       67  
    Cash flows from investing activities:          
    Purchases of property, plant and equipment   (18 )     (51 )     (18 )
    Net cash used in investing activities   (18 )     (51 )     (18 )
    Cash flows from financing activities:          
    Repurchase of common stock   (45 )     —       —  
    Proceeds from borrowings   —       —       761  
    Payments of borrowings   (113 )     (229 )     (806 )
    Payments of deferred financing fees   —       —       (2 )
    Dividend payments   (15 )     (15 )     (15 )
    Net (payments) proceeds related to employee stock awards   (5 )     3       (9 )
    Other financing activities   (2 )     (5 )     (1 )
    Net cash used in financing activities   (180 )     (246 )     (72 )
    Effect of exchange rate changes on cash and cash equivalents   (2 )     (26 )     (7 )
    Decrease in cash and cash equivalents   (59 )     (147 )     (30 )
    Cash and cash equivalents at beginning of period   714       861       875  
    Cash and cash equivalents at end of period $ 655     $ 714     $ 845  
               
    The following supplemental Non-GAAP earnings information is presented to aid in understanding MKS’ operating results:
               
    MKS Instruments, Inc.
    Schedule Reconciling Selected Non-GAAP Financial Measures
    (In millions, except per share data)
               
      Three Months Ended
      March 31,   December 31,   March 31,
       2025    2024    2024
    Net income $ 52     $ 90     $ 15  
    Acquisition and integration costs   —       3       1  
    Restructuring and other   16       1       3  
    Amortization of intangible assets   60       61       62  
    Loss on extinguishment of debt   3       4       9  
    Amortization of debt issuance costs   5       5       6  
    Fees and expenses related to amendments to the Term Loan Facility   2       —       3  
    Tax effect of Non-GAAP adjustments   (22 )     (18 )     (20 )
    Non-GAAP net earnings $ 116     $ 146     $ 79  
    Non-GAAP net earnings per diluted share $ 1.71     $ 2.15     $ 1.18  
    Weighted average diluted shares outstanding   67.7       67.7       67.4  
               
    Net cash provided by operating activities $ 141     $ 176     $ 67  
    Purchases of property, plant and equipment   (18 )     (51 )     (18 )
    Free cash flow $ 123     $ 125     $ 49  
    GAAP and Non-GAAP gross profit $ 444     $ 441     $ 415  
    GAAP and Non-GAAP gross margin   47.4 %     47.2 %     47.8 %
    Operating expenses $ 332     $ 306     $ 309  
    Acquisition and integration costs   —       3       1  
    Restructuring and other   16       1       3  
    Amortization of intangible assets   60       61       62  
    Fees and expenses related to amendments to the Term Loan Facility   2       —       3  
    Non-GAAP operating expenses $ 254     $ 242     $ 240  
    Income from operations $ 111     $ 135     $ 106  
    Operating margin   11.9 %     14.5 %     12.2 %
    Acquisition and integration costs   —       3       1  
    Restructuring and other   16       1       3  
    Amortization of intangible assets   60       61       62  
    Fees and expenses related to amendments to the Term Loan Facility   2       —       3  
    Non-GAAP income from operations $ 189     $ 199     $ 175  
    Non-GAAP operating margin   20.2 %     21.3 %     20.2 %
    Interest expense, net $ 50     $ 49     $ 81  
    Amortization of debt issuance costs   5       5       6  
    Non-GAAP interest expense, net $ 45     $ 45     $ 75  
    Net income $ 52     $ 90     $ 15  
    Interest expense, net   50       49       81  
    Other (income) expense, net   (1 )     3       (3 )
    Provision (benefit) for income taxes   7       (11 )     4  
    Depreciation   25       26       26  
    Amortization   60       61       62  
    Stock-based compensation   22       11       15  
    Acquisition and integration costs   —       3       1  
    Restructuring and other   16       1       3  
    Loss on extinguishment of debt   3       4       9  
    Fees and expenses related to amendments to the Term Loan Facility   2       —       3  
    Adjusted EBITDA $ 236     $ 237     $ 217  
    Adjusted EBITDA margin   25.2 %     25.3 %     25.0 %
               
    MKS Instruments, Inc.
    Schedule Reconciling Selected Non-GAAP Financial Measures
    (In millions, except per share data)
                           
      Three Months Ended March 31, 2025   Three Months Ended December 31, 2024
      Income Before Income Taxes   Provision for Income Taxes   Effective Tax Rate   Income Before Income Taxes    (Benefit) Provision for Income Taxes   Effective Tax Rate
    GAAP $ 59     $ 7     12.3 %   $ 79     $ (11 )   (14.5 %)
    Acquisition and integration costs   —       —           3       —      
    Restructuring and other   16       —           1       —      
    Amortization of intangible assets   60       —           61       —      
    Loss on extinguishment of debt   3       —           4       —      
    Amortization of debt issuance costs   5       —           5       —      
    Fees and expenses related to amendments to the Term Loan Facility   2       —           —       —      
    Tax effect of Non-GAAP adjustments   —       22           —       18      
    Non-GAAP $ 145     $ 29     19.9 %   $ 153     $ 7     4.0 %
                           
                           
                  Three Months Ended March 31, 2024
                  Income Before Income Taxes   Provision for Income Taxes   Effective Tax Rate
    GAAP             $ 19     $ 4     23.1 %
    Acquisition and integration costs               1       —      
    Restructuring and other               3       —      
    Amortization of intangible assets               62       —      
    Loss on extinguishment of debt               9       —      
    Amortization of debt issuance costs               6       —      
    Fees and expenses related to amendments to the Term Loan Facility               3       —      
    Tax effect of Non-GAAP adjustments               —       20      
    Non-GAAP             $ 103     $ 24     23.3 %
                           
    MKS Instruments, Inc.
    Schedule Reconciling Selected Non-GAAP Financial Measures – Q2’25 Guidance
    (In millions, except per share data)
           
      Three Months Ending June 30, 2025
      $ Amount   Per Share
    GAAP net income and net income per share $ 55     $ 0.81  
    Restructuring and other   4      
    Amortization of intangible assets   60      
    Loss on extinguishment of debt   2      
    Amortization of debt issuance costs   4      
    Tax effect of Non-GAAP adjustments   (19 )    
    Non-GAAP net earnings and net earnings per share $ 106     $ 1.56  
    Weighted average diluted shares   67.6      
           
    GAAP operating expenses $ 316      
    Restructuring and other   (4 )    
    Amortization of intangible assets   (60 )    
    Non-GAAP operating expenses $ 252      
           
    GAAP net income   55      
    Interest expense, net   52      
    Other expense (income), net   1      
    Provision for income taxes   4      
    Depreciation   26      
    Restructuring and other   4      
    Amortization of intangible assets   60      
    Stock-based compensation   12      
    Loss on extinguishment of debt   2      
    Adjusted EBITDA $ 216      
           
     
    MKS Instruments, Inc.
    Notes on Our Non-GAAP Financial Information
     

    Non-GAAP financial measures adjust GAAP financial measures for the items listed below. These Non-GAAP financial measures should be viewed in addition to, and not as a substitute for, MKS’ reported GAAP results, and may be different from Non-GAAP financial measures used by other companies. In addition, these Non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. MKS management believes the presentation of these Non-GAAP financial measures is useful to investors for comparing prior periods and analyzing ongoing business trends and operating results. Totals presented may not sum and percentages may not recalculate using figures presented due to rounding.

    Acquisition and integration costs include incremental expenses incurred to effect the Atotech Acquisition. Such acquisition costs may include advisory, legal, tax, accounting, valuation, and other professional or consulting fees. Such integration costs may include expenses directly related to integration of business and facility operations, information technology systems and infrastructure and other employee-related costs.

    Restructuring and other includes incremental expenses incurred in connection with restructuring programs and other strategic initiatives, primarily related to changes in business and/or cost structure. Such costs may include third-party services, one-time termination benefits, facility-related costs, contract termination fees and other items that have no direct correlation to our future business operations.

    Amortization of intangible assets includes non-cash amortization expense associated with intangible assets acquired in acquisitions.

    Loss on extinguishment of debt includes the non-cash write-off of unamortized debt issuance costs and original issue discount costs incurred from voluntary prepayments and/or repricing of our term loan facility.

    Amortization of debt issuance costs includes non-cash additional interest expense related to the amortization of debt issuance costs and original issue discount costs associated with our term loan facility.

    Fees and expenses related to amendments to the Term Loan Facility includes direct third-party costs related to repricings or refinancings of our term loan facility.

    Tax effect of Non-GAAP adjustments includes the impact of Non-GAAP adjustments that are tax effected at applicable statutory rates resulting in a difference between the GAAP and Non-GAAP tax rates. 

    The MIL Network –

  • MIL-Evening Report: Vietnam is poised to become a top 20 economy, so why is Australia taking so long to make trade and investment links?

    Source: The Conversation (Au and NZ) – By Anne Vo, Senior lecturer in Vietnamese culture and politics, University of Wollongong

    Aritra Deb/Shutterstock

    At a time of widespread global trade instability, Australia should be expanding and diversifying its economic partnerships. Supply chains remain fragile, and protectionist rhetoric is once again gaining traction in major Western economies.

    US President Donald Trump’s America First agenda includes sweeping tariffs on imports, withdrawal from multilateral agreements and pressure to take production in-house.

    At the same time, China, Australia’s largest trading partner, has often used trade for geopolitical leverage. In 2020, Beijing imposed tariffs of more than 200% on Australian wine. This wiped 30% off the sector’s export value.

    So economic diversification is not only desirable but strategically imperative.

    An opportunity

    Fifty years on from the fall of Saigon, Vietnam presents a compelling opportunity for economic and strategic diversification. The reunited country is eager to move beyond its wartime image and assert itself as an emerging economic powerhouse.

    Vietnam’s capital, Ho Chi Min City. The country has shifted from being a place synonymous with war to becoming one of the world’s top economies.
    Nguyen Quang Ngoc Tonkin/Shutterstock

    Since the launch of the Doi Moi reforms in 1986, Vietnam has embraced economic liberalisation and market-oriented policies. The Doi Moi reforms opened the economy to foreign trade, allowed private ownership and restructured state-owned enterprises.

    From a growth rate of just 1.6% in 1980, Vietnam is now set to become one of the world’s top 20 economies by 2050. In 2023 alone, it attracted A$8.5 billion in foreign direct investment, underscoring strong investor confidence.

    The 50th anniversary of reunification on April 30 provided insights into the country’s growth. Celebrations included military parades, 3D virtual reality displays and exhibitions promoting advances in technology.

    Slow to act

    Yet Australia has been slow to act. Despite geographic proximity and shared interests, Australia’s economic footprint in Vietnam remains surprisingly small. In 2023, Australian foreign direct investment totalled just A$3 million. It ranked 22nd, behind countries including Switzerland and Seychelles.

    In trade, the disparity is similarly stark. Vietnam accounts for only 2.33% of Australia’s exports and 1.4% of imports. Two-way trade between the two countries reached $26.3 billion in 2022. At the same time, Vietnam’s trade with the United States, topped A$191.9 billion.

    Some Australian firms are already making inroads. BlueScope Steel, Linfox, and SunRice have invested significantly in manufacturing, logistics and agriculture. And RMIT University has been a key player in transnational education since it opened the first of three campuses in Vietnam in 2000.

    ANZ and Qantas also have a visible presence. However, small and medium-sized enterprises – which comprise more than 98% of Australian businesses – remain largely absent. Many prefer export partnerships or distributor agreements over direct investment.

    Potential obstacles

    Australian companies have long favoured English-speaking or high-income markets. These offer greater institutional and cultural familiarity and regulatory certainty.

    Vietnam’s relationship-based commercial environment poses challenges, especially for firms lacking embedded networks and local knowledge. Concerns around regulatory transparency, intellectual property protection, contract enforcement and corruption – though improving – continue to weigh on corporate decisions.

    Small to medium enterprises, in particular, face extra barriers due to limited institutional support, regulatory understanding, market intelligence and in-country networks.

    Help from government

    The Australian government has taken some steps to catch up. The Enhanced Economic Engagement Strategy, launched in 2021, aims to double two-way investment and elevate both nations to top ten trading partner status.

    It identifies priority sectors such as agriculture, education, clean energy, digital technology and manufacturing. However, the strategy contains no enforceable legal protections, tariff concessions or means of dispute resolution.

    Manufacturing is one of the priority areas recognised in Australia’s Enhanced Economic Engagement Strategy for Vietnam.
    Hien Phung Tu/Shutterstock

    The lack of these matters. Japan, South Korea and the European Union have pursued coordinated economic strategies that include concessional loans, robust legal frameworks and in-market support services. These help their businesses thrive in Vietnam’s complex regulatory environment.

    Similarly, the EU has integrated trade promotion with legal certainty under agreements like the EU Vietnam Free Trade Agreement.

    More needs to be done

    Without comparable tools, Australia’s initiatives risk being more aspirational than actionable.

    Last year’s upgrade in bilateral ties to a Comprehensive Strategic Partnership, signals growing political will.

    For Australia to realise the potential of its relationship with Vietnam it should back long-term policies. These policies should reduce market entry barriers, incentivise small to medium enterprises and increase joint skills development.

    Investors also need legal and institutional support.

    Australia has strong potential to expand into emerging sectors. These include renewable energy, digital technology, healthcare, vocational education and training, green and smart infrastructure and agritech.

    Vietnam’s push for environmentally sustainable economic growth, digital transformation and workforce training aligns closely with Australian strengths. This creates opportunities for strategic investment and cooperation.

    There is the potential for Australia to build a dynamic partnership with Vietnam central to its long-term economic position in the Indo-Pacific.

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

    – ref. Vietnam is poised to become a top 20 economy, so why is Australia taking so long to make trade and investment links? – https://theconversation.com/vietnam-is-poised-to-become-a-top-20-economy-so-why-is-australia-taking-so-long-to-make-trade-and-investment-links-255722

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Ormat Technologies Reports First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    REVENUE GROWTH AND RECORD QUARTERLY ADJUSTED EBITDA SUPPORT ONGOING STRATEGIC PORTFOLIO EXPANSION

    HIGHLIGHTS

    • TOTAL REVENUES AND NET INCOME1 IMPROVED 2.5% AND 4.6%, RESPECTIVELY
    • RECORD ADJUSTED EBITDA OF $150.3 MILLION, AN INCREASE OF 6.4% VS LAST YEAR
    • ENERGY STORAGE SEGMENT REVENUES INCREASED BY 120% DRIVING MEANINGFUL MARGIN INCREASE
    • SIGNED AN AGREEMENT TO ACQUIRE THE 20MW BLUE MOUNTAIN GEOTHERMAL POWER PLANT FROM CYRQ ENERGY
    • COMPANY REITERATES ITS 2025 FULL-YEAR GUIDANCE, REFLECTING STRONG EXECUTION AND CONFIDENCE IN THE BUSINESS OUTLOOK

    RENO, Nev., May 07, 2025 (GLOBE NEWSWIRE) — Ormat Technologies, Inc. (NYSE: ORA) (the “Company” or “Ormat”), a leading renewable energy company, today announced financial results for the first quarter ended March 31, 2025.

    KEY FINANCIAL RESULTS

      Q1 2025 Q1 2024 Change (%)
    GAAP Measures      
    Revenues ($ millions)      
                 Electricity 180.2   191.3   (5.8 %)
                 Product 31.8   24.8   27.9 %
                 Energy Storage 17.8   8.1   119.7 %
    Total Revenues 229.8   224.2   2.5 %
           
    Gross Profit 72.9   78.8   (7.5 %)
    Gross margin (%)      
    Electricity 33.5 % 39.0 %  
    Product 22.3 % 14.8 %  
    Energy Storage 30.6 % 7.5 %  
    Gross margin (%) 31.7 % 35.2 %  
    Operating income ($ millions) 50.9   52.6   (3.2 %)
    Net income attributable to the Company’s stockholders 40.4   38.6   4.6 %
    Diluted EPS ($) 0.66   0.64   3.1 %
    Non-GAAP Measures      
    Adjusted Net income attributable to the Company’s stockholders 41.5   39.6   4.8 %
    Adjusted Diluted EPS ($) 0.68   0.65   4.6 %
    Adjusted EBITDA2($ millions) 150.3   141.2   6.4 %

    1 Net Income attributable to the Company’s stockholder
    2 See reconciliation table below

    “Ormat had a strong start to 2025, achieving a 2.5% increase in revenue, a 4.6% rise in net income attributable to the Company’s stockholders, and a 6.4% increase in adjusted EBITDA. This growth was driven by improved performance in both our Product and Storage segments,” said Doron Blachar, Chief Executive Officer of Ormat Technologies. “Our Storage segment benefited from new capacity added over the last 12 months and from higher merchant prices in the PJM market. We expect continued good performance throughout 2025 as we transition our Storage segment to a more predictable portfolio designed to maximize profitability.”

    “While our Electricity segment experienced a slight year-over-year decline in the quarter due to previously disclosed curtailments in California and Nevada, the balance of our geothermal operations delivered a consistent, solid performance. We have several projects under development that we anticipate will reach commercial operation by the end of 2025, which we expect will deliver solid generation growth and further strengthen our earnings trajectory. Additionally, we believe that the potential easing of project permitting timelines combined with increased focus on geothermal exploration will further support our growth in the segment, expand our revenues, and help us achieve our long-term targets.”

    “I am pleased to announce that Ormat signed an agreement to acquire the Blue Mountain geothermal power plant from Cyrq Energy for $88 million, subject to standard working capital adjustments. The 20 MW facility, located in Humboldt County, was built using Ormat technology, features an existing 51 MW interconnection capacity and a Power Purchase Agreement (PPA) with NV Energy (NVE) that expires at the end of 2029. Following the acquisition, Ormat plans to upgrade the power plant, increasing its capacity by 3.5 MW. Additionally, subject to permit and PPA approval, Ormat intends to add a 13 MW solar facility to support the plant’s auxiliaries. The acquisition is anticipated to close towards the end of the second quarter. This acquisition underscores Ormat’s capability to strategically expand and enhance assets in the U.S., leveraging our advanced technology and expertise to optimize performance and efficiency. The planned upgrades and solar addition demonstrate our commitment to innovation and maximizing renewable energy output, contributing to a sustainable future.”

    Blachar continued, “The demand for electricity, particularly from baseload renewable sources, remains strong, and we continue to observe high PPA pricing in the Electricity Segment, and increased Resource Adequacy (RA) pricing in the Storage Segment. Regarding the recent reciprocal tariffs, we anticipate a limited short-term impact on our Storage Segment as we have already procured batteries for all projects currently under construction. Additionally, our Electricity Segment operations and project development have limited exposure to China, mitigating potential adverse effects from the tariffs. Ormat remains committed to delivering reliable and sustainable energy solutions and enhancing shareholder value. We will continue navigating this fluid regulatory environment with a focus on maintaining our growth trajectory and supporting the transition to a cleaner energy future.”

    FINANCIAL HIGHLIGHTS

    • Net income attributable to the Company’s stockholders for the first quarter was $40.4 million, an increase of 4.6% compared to last year. Diluted EPS for the first quarter was $0.66, an increase of 3.1%, compared to the prior year period. This increase is mainly driven by income tax benefits related to the storage facilities expected to commence commercial operation during 2025.
    • Adjusted net income attributable to the Company’s stockholders and Adjusted diluted EPS for the first quarter increased 4.8% and 4.6%, respectively.
    • Adjusted EBITDA for the first quarter was $150.3 million, an increase of 6.4% compared to 2024. The year-over-year increase in Adjusted EBITDA was driven by the Energy Storage segment, due to the contribution of new assets, higher merchant pricing in the East Coast markets, and a legal settlement with a battery supplier. In the Product segment, the increase was derived from a higher backlog and improved contract’ margins. The increase in the Storage and Product segments was partly offset by the reduction in Electricity segment EBITDA mainly due to curtailments in the U.S.
    • Electricity segment revenues decreased by 5.8% during the first quarter, compared to last year. The year-over-year decrease in the first quarter revenue was driven by the previously disclosed energy curtailments, mainly at our McGinness complex, maintenance on the transmission line by the local grid operator, and wildfires in California, which forced grid operators to curtail part of the supplied power.
    • Product segment revenues increased by 27.9% in the first quarter, driven largely by the timing of revenue recognition and our higher backlog. Gross margin increased from 14.8% in the first quarter 2024 to 22.3% in 2025, reflecting marked growth in revenue.
    • Product segment backlog stands at approximately $314 million as of May 7th, 2025, and includes the recently signed Engineering, Procurement, and Construction (EPC) contract for the development of the Te Mihi Stage 2 geothermal plant in New Zealand and the BOT project in Dominica.
    • Energy Storage segment revenues increased 119.7% for the first quarter compared to 2024. The improvement was driven by strong performance in the PJM merchant market, where a spike in cold weather along the East Coast contributed to elevated merchant pricing.

    BUSINESS HIGHLIGHTS:

    • In early May, the company signed an agreement to acquire the 20MW Blue Mountain geothermal power plant from Cyrq Energy for $88 million. Closing is expected by the end of the second quarter.
    • In February 2025, Ormat won a tender issued by the Israeli Electricity Authority and was awarded two 15-year tolling agreements for two energy storage facilities with a combined capacity of approximately 300MW/1200MWh. Ormat will retain a 50% equity interest.
    • Ormat commenced commercial operations of the 35MW Ijen geothermal power plant in Indonesia in February 2025, holding a 49% equity interest.
    • In January 2025, Ormat signed a 10-year Power Purchase Agreement (PPA) with Calpine Energy Solutions for up to 15MW of carbon-free geothermal capacity at favorable terms. This PPA will replace the current lower-priced PPA with Southern California Edison for Mammoth 2 in the first quarter of 2027.
    • We currently do not expect material impact from the new import tariffs on our 2025 and 2026 financial results. All batteries required for our projects arrived or were in transit to the U.S. before significant increased tariffs were imposed.

    2025 GUIDANCE

    • Total revenues of between $935 million and $975 million.
    • Electricity segment revenues of between $710 million and $725 million.
    • Product segment revenues of between $172 million and $187 million.
    • Energy Storage revenues of between $53 million and $63 million.
    • Adjusted EBITDA to be between $563 million and $593 million.
      • Adjusted EBITDA attributable to minority interest of approximately $21 million.

    The Company provides a reconciliation of Adjusted EBITDA, a non-GAAP financial measure for the three months ended March 31, 2025. However, the Company does not provide guidance on net income and is unable to provide a reconciliation for its Adjusted EBITDA guidance range to net income without unreasonable efforts due to high variability and complexity with respect to estimating certain forward-looking amounts. These include impairments and disposition and acquisition of business interests, income tax expense, and other non-cash expenses and adjusting items that are excluded from the calculation of Adjusted EBITDA.

    DIVIDEND

    On May 7, 2025, the Company’s Board of Directors declared, approved, and authorized payment of a quarterly dividend of $0.12 per share pursuant to the Company’s dividend policy. The dividend will be paid on June 4, 2025, to stockholders of record as of the close of business on May 21, 2025. In addition, the Company expects to pay a quarterly dividend of $0.12 per share in each of the next three quarters.

    CONFERENCE CALL DETAILS

    Ormat will host a conference call to discuss its financial results and other matters discussed in this press release on Thursday, May 8, 2025, at 9:00 a.m. ET.

    Participants within the United States and Canada, please dial +1-800-715-9871, approximately 15 minutes prior to the scheduled start of the call. If you are calling outside of the United States and Canada, please dial +1-646-960-0440. The access code for the call is 3818407. Please request the “Ormat Technologies, Inc. call” when prompted by the conference call operator. The conference call will also be accompanied by a live webcast which will be hosted on the Investor Relations section of the Company’s website.

    A replay will be available one hour after the end of the conference call. To access the replay within the United States and Canada, please dial 1-800-770-2030. From outside of the United States and Canada, please dial +1-647-362-9199. Please use the replay access code 3818407. The webcast will also be archived on the Investor Relations section of the Company’s website.

    ABOUT ORMAT TECHNOLOGIES

    With over five decades of experience, Ormat Technologies, Inc. is a leading geothermal company, and the only vertically integrated company engaged in geothermal and recovered energy generation (“REG”), with robust plans to accelerate long-term growth in the energy storage market and to establish a leading position in the U.S. energy storage market. The Company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter – a power generation unit that converts low-, medium- and high-temperature heat into electricity. The Company has engineered, manufactured and constructed power plants, which it currently owns or has installed for utilities and developers worldwide, totaling approximately 3,400 MW of gross capacity. Ormat leveraged its core capabilities in the geothermal and REG industries and its global presence to expand the Company’s activity into energy storage services, solar Photovoltaic (PV) and energy storage plus Solar PV. Ormat’s current total generating portfolio is 1,538MW with a 1,248MW geothermal and solar generation portfolio that is spread globally in the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe, and a 290MW energy storage portfolio that is located in the U.S.

    ORMAT’S SAFE HARBOR STATEMENT

    Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future, including such matters as our projections of annual revenues and Adjusted EBITDA, expenses and debt service coverage with respect to our debt securities, future capital expenditures, business strategy, competitive strengths, goals, development or operation of generation assets, legal, market, industry and geopolitical developments and incentives, demand for renewable energy, and the growth of our business and operations, are forward-looking statements. When used in this press release, the words “may”, “will”, “could”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “projects”, “potential”, or “contemplate” or the negative of these terms or other comparable terminology are intended to identify forward-looking statements, although not all forward-looking statements contain such words or expressions. These forward-looking statements generally relate to Ormat’s plans, objectives and expectations for future operations and are based upon its management’s current estimates and projections of future results or trends. Although we believe that our plans and objectives reflected in or suggested by these forward-looking statements are reasonable, we may not achieve these plans or objectives. Actual future results may differ materially from those projected as a result of certain risks and uncertainties and other risks described under “Risk Factors” as described in Ormat’s most recent annual report, and in subsequent filings.

    These forward-looking statements are made only as of the date hereof, and, except as legally required, we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

    ORMAT TECHNOLOGIES, INC AND SUBSIDIARIES
    Condensed Consolidated Statement of Operations
    For the Three Months Ended March 31, 2025, and 2024
     
      Three Months Ended March 31,
      2025   2024  
    Revenues: (Thousands, except per share data)
    Electricity         180,241   191,253  
    Product         31,769   24,832  
    Energy storage          17,752   8,081  
    Total revenues         229,762   224,166  
    Cost of revenues:    
    Electricity         119,833   116,730  
    Product         24,684   21,154  
    Energy storage          12,318   7,472  
    Total cost of revenues         156,835   145,356  
    Gross profit         72,927   78,810  
    Operating expenses:    
    Research and development expenses         2,542   1,564  
    Selling and marketing expenses         4,172   5,126  
    General and administrative expenses         17,909   19,537  
    Other operating income         (3,125 ) —  
    Write-off of unsuccessful exploration and storage activities         516   —  
    Operating income         50,913   52,583  
    Other income (expense):    
    Interest income         1,313   1,839  
    Interest expense, net         (34,473 ) (30,968 )
    Derivatives and foreign currency transaction gains (losses)         2,060   (1,582 )
    Income attributable to sale of tax benefits         17,571   17,476  
    Other non-operating income, net         222   26  
    Income from operations before income tax and equity in earnings of investees         37,606   39,374  
    Income tax (provision) benefit         3,795   147  
    Equity in earnings (losses) of investees         (367 ) 829  
    Net income         41,034   40,350  
    Net income attributable to noncontrolling interest         (672 ) (1,763 )
    Net income attributable to the Company’s stockholders         40,362   38,587  
    Earnings per share attributable to the Company’s stockholders:    
    Basic: 0.67   0.64  
    Diluted: 0.66   0.64  
    Weighted average number of shares used in computation of earnings per share attributable to the Company’s stockholders:    
    Basic         60,559   60,386  
    Diluted         60,840   60,536  
         
    ORMAT TECHNOLOGIES, INC AND SUBSIDIARIES
    Condensed Consolidated Balance Sheet
    For the Period Ended March 31, 2025, and the Period Ended December 31, 2024
     
      March 31,
    2025    		   December 31,
    2024
    ASSETS                                       (In thousands)
    Current assets:      
    Cash and cash equivalents          112,704     94,395  
    Restricted cash and cash equivalents (primarily related to VIEs)         112,001     111,377  
    Receivables:      
         Trade less allowance for credit losses of $249 and $163 respectively (primarily related to VIEs)         173,590     164,050  
         Other         45,489     50,792  
    Inventories         42,107     38,092  
    Costs and estimated earnings in excess of billings on uncompleted contracts 20,940     29,243  
    Prepaid expenses and other         94,023     59,173  
              Total current assets         600,854     547,122  
    Investment in unconsolidated companies          158,618     144,585  
    Deposits and other         89,021     75,383  
    Deferred income taxes         165,983     153,936  
    Property, plant and equipment, net ($3,261,700 and $3,271,248 related to VIEs, respectively) 3,497,915     3,501,886  
    Construction-in-process ($370,762 and $251,442 related to VIEs, respectively) 844,873     755,589  
    Operating leases right of use ($13,725 and $13,989 related to VIEs, respectively)         32,232     32,114  
    Finance leases right of use (none related to VIEs)         2,935     2,841  
    Intangible assets, net         295,225     301,745  
    Goodwill         151,291     151,023  
              Total assets         5,838,947     5,666,224  
           
    LIABILITIES AND EQUITY          
    Current liabilities:      
    Accounts payable and accrued expenses         201,354     234,334  
    Commercial paper (less deferred financing costs of $22 and $23, respectively)         99,978     99,977  
    Billings in excess of costs and estimated earnings on uncompleted contracts 52,198     23,091  
    Current portion of long-term debt:      
         Limited and non-recourse (primarily related to VIEs) 70,453     70,262  
         Full recourse         184,227     161,313  
         Financing Liability         5,905     4,093  
         Operating lease liabilities         3,657     3,633  
         Finance lease liabilities         1,451     1,375  
              Total current liabilities         619,223     598,078  
    Long-term debt, net of current portion:      
    Limited and non-recourse: (primarily related to VIEs and less deferred financing costs of $8,216 and $8,849, respectively) 560,824     578,204  
    Full recourse: (less deferred financing costs of $4,782 and $4,671, respectively) 957,027     822,828  
    Convertible senior notes (less deferred financing costs of $6,138 and $6,820, respectively) 470,299     469,617  
    Financing Liability         213,810     216,476  
    Operating lease liabilities         22,722     22,523  
    Finance lease liabilities         1,544     1,529  
    Liability associated with sale of tax benefits         144,081     152,292  
    Deferred income taxes         71,479     68,616  
    Liability for unrecognized tax benefits         6,481     6,272  
    Liabilities for severance pay         11,147     10,488  
    Asset retirement obligation         131,431     129,651  
    Other long-term liabilities         33,533     29,270  
         Total liabilities         3,243,601     3,105,844  
           
    Redeemable noncontrolling interest         9,573     9,448  
           
    Equity:      
    The Company’s stockholders’ equity:      
    Common stock, par value $0.001 per share; 200,000,000 shares authorized; 60,662,626 and 60,500,580 issued and outstanding as of March 31, 2025, and December 31, 2024, respectively         61     61  
    Additional paid-in capital         1,640,910     1,635,245  
    Treasury stock, at cost (258,667 shares held as of March 31, 2025, and December 31, 2024, respectively)         (17,964 )   (17,964 )
    Retained earnings         847,607     814,518  
    Accumulated other comprehensive income (loss)         (9,410 )   (6,731 )
    Total stockholders’ equity attributable to Company’s stockholders         2,461,204     2,425,129  
    Noncontrolling interest         124,569     125,803  
    Total equity         2,585,773     2,550,932  
    Total liabilities, redeemable noncontrolling interest and equity         5,838,947     5,666,224  


    ORMAT TECHNOLOGIES, INC AND SUBSIDIARIES
    Reconciliation of EBITDA and Adjusted EBITDA
    For the Three Months Ended March 31, 2025, and 2024

    We calculate EBITDA as net income before interest, taxes, depreciation, amortization and accretion. We calculate Adjusted EBITDA as net income before interest, taxes, depreciation, amortization and accretion, adjusted for (i) mark-to-market gains or losses from accounting for derivatives not designated as hedging instruments; (ii) stock-based compensation, (iii) merger and acquisition transaction costs; (iv) gain or loss from extinguishment of liabilities; (v) cost related to a settlement agreement; (vi) non-cash impairment charges; (vii) write-off of unsuccessful exploration and storage activities; and (viii) other unusual or non-recurring items. We adjust for these factors as they may be non-cash, unusual in nature and/or are not factors used by management for evaluating operating performance. We believe that presentation of these measures will enhance an investor’s ability to evaluate our financial and operating performance. EBITDA and Adjusted EBITDA are not measurements of financial performance or liquidity under accounting principles generally accepted in the United States, or U.S. GAAP, and should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or an alternative to net earnings as indicators of our operating performance or any other measures of performance derived in accordance with U.S. GAAP. Our Board of Directors and senior management use EBITDA and Adjusted EBITDA to evaluate our financial performance. However, other companies in our industry may calculate EBITDA and Adjusted EBITDA differently than we do.

    The following table reconciles net income to EBITDA and Adjusted EBITDA for the three months ended March 31, 2025, and 2024:

      Three Months Ended March 31,  
      2025    2024   
      (Dollars in thousands)  
    Net income 41,034     40,350    
    Adjusted for:        
    Interest expense, net (including amortization of deferred financing costs) 33,160     29,129    
    Income tax provision (benefit) (3,795 )   (147 )  
    Adjustment to investment in unconsolidated companies: our proportionate share in interest expense, tax and depreciation and amortization in Sarulla and Ijen 3,421     3,352    
    Depreciation, amortization and accretion 69,157     61,676    
    EBITDA 142,977     134,360    
    Mark-to-market (gains) or losses of derivative instruments 939     813    
    Stock-based compensation 4,911     4,769    
    Allowance for bad debts 26     —    
    Merger and acquisition transaction costs —     1,299    
    Settlement agreement 900     —    
    Write-off of unsuccessful exploration and storage activities 516     —    
    Adjusted EBITDA 150,269     141,241    


    ORMAT TECHNOLOGIES, INC AND SUBSIDIARIES
    Reconciliation of Adjusted Net Income attributable to the Company’s stockholders and Adjusted EPS
    For the Three Months Ended March 31, 2025, and 2024

    Adjusted Net Income attributable to the Company’s stockholders and Adjusted diluted EPS are adjusted for one-time expense items that are not representative of our ongoing business and operations. The use of Adjusted Net income attributable to the Company’s stockholders and Adjusted diluted EPS is intended to enhance the usefulness of our financial information by providing measures to assess the overall performance of our ongoing business.

    The following tables reconciles Net income attributable to the Company’s stockholders and Adjusted diluted EPS for the three months ended March 31, 2025, and 2024.

      Three Months Ended March 31,  
      2025   2024  
      (Dollars in millions, except per share data)  
    GAAP Net income attributable to the Company’s stockholders 40.4   38.6  
    Write-off of unsuccessful exploration and storage activities 0.41   –  
    Merger and acquisition transaction costs –   1.0  
    Allowance for bad debts 0.02   –  
    Settlement agreement 0.71   –  
    Adjusted Net income attributable to the Company’s stockholders 41.5   39.6  
    GAAP diluted EPS 0.66   0.64  
    Write-off of unsuccessful exploration and storage activities 0.01   –  
    Merger and acquisition transaction costs –   0.02  
    Allowance for bad debts 0.00   –  
    Settlement agreement 0.01   –  
    Adjusted Diluted EPS ($) 0.68   0.65  
    Ormat Technologies Contact:
    Smadar Lavi
    VP Head of IR and ESG Planning & Reporting
    775-356-9029 (ext. 65726)
    slavi@ormat.com     		 Investor Relations Agency Contact:
    Joseph Caminiti or Josh Carroll
    Alpha IR Group
    312-445-2870
    ORA@alpha-ir.com 

    The MIL Network –

  • MIL-OSI Canada: Breaking barriers in child care

    Licensed child-care providers can now apply for up to $5 million in new funding through the second intake of the Inclusive Spaces Program Grant. Applications are open until June 13, as part of the $15-million federal-provincial investment in the Inclusive Spaces Program Grant under the Canada-Alberta Canada-Wide Early Learning and Child Care Agreement. Investing in inclusive child-care spaces is essential to supporting Alberta’s growing population, strengthening workforce participation and ensuring all children have an accessible space in Alberta’s high-quality child-care system.

    The Inclusive Spaces Program Grant helps licensed daycares, preschools and family day home agencies improve their spaces and programming for children with diverse cultural, linguistic and support needs. More than 100 projects were approved during the first intake. The second and third intakes will create hundreds of new opportunities to transform child-care spaces across the province.

    “Every child deserves access to high-quality care that meets their unique needs. This funding is expanding inclusive spaces throughout Alberta – making a difference in every corner of the province.”

    Matt Jones, Minister of Jobs, Economy and Trade

    More Alberta families can now access child care with personalized, inclusive or modified supports. Whether that means adding wheelchair-accessible washrooms, building sensory-friendly areas, or incorporating multilingual resources into daily programming, this funding provides better quality child care for Alberta’s kids.

    This work is part of Alberta’s broader effort to expand access to high-quality early learning and child care, while also ensuring existing child-care spaces work for as many families as possible. By reducing barriers for children requiring additional support, the government is empowering more parents to stay in the workforce and helping more children to thrive in safe, engaging environments.

    “As a proud recipient of the Inclusive Spaces Grant in Intake 1, we are thrilled to see the government’s continued commitment to inclusive child care. This funding will help child-care providers like us create a welcoming environment where children of all abilities and cultural backgrounds can grow, play and thrive together.”

    Hayat El-Ossmani, owner and director, B-Smart Learning Center

    The Inclusive Spaces Program Grant complements Alberta’s Inclusive Child Care Program and Access, Support and Participation Program, which provide ongoing supports to child-care providers and prevent the exclusion of children with diverse needs.

    Every child deserves to feel seen, supported and included. Alberta’s government, in partnership with the federal government, is making that dream a reality – helping child-care centres across the province open their doors even wider.

    Quick facts

    • Alberta launched the $15-million Inclusive Spaces Program Grant in December 2024 in partnership with the federal government. Its funding is being distributed in three equal intakes of $5 million.
    • Through this grant, Alberta’s government has already distributed $5 million across 105 programs, supporting projects that will make child care more welcoming and accessible to everyone.
      • 75 grants were issued for materials, with project costs ranging from $1,200 to $116,000.
      • 30 grants were issued for renovations, with project costs ranging from $9,700 to $256,000.
    • The second of three $5-million intake periods is now open and will close on June 13.
      • This will be followed by one more intake period in fall 2025 to finish allocating the full $15 million in funding.
    • Applications will be assessed through Alberta’s Ministry of Jobs, Economy and Trade.

    Related information

    • Child care – supports for inclusion
    • Inclusive Spaces Program Grant
    • Canada-Alberta Canada-Wide Early Learning and Child Care Agreement

    Related news

    • Alberta’s inclusive spaces transformation (Dec. 13, 2024)

    MIL OSI Canada News –