Category: Trade

  • MIL-OSI: Cyabra to Participate in Upcoming Investor Conferences in May

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, May 01, 2025 (GLOBE NEWSWIRE) — Cyabra Strategy Ltd. (“Cyabra”), a leading AI platform for real-time disinformation detection, today announced its participation at the following investor conferences in May:

    20th Annual Needham Technology, Media, & Consumer Virtual Conference

    Participants: Dan Brahmy, Co-Founder and Chief Executive Officer, and Yael Sandler, Chief Financial Officer.

    Format: Company management will be available for virtual one-on-one meetings throughout the day. To schedule a meeting, please contact your Needham representative directly.

    When: Monday, May 12.

    The Ladenburg Thalmann Technology Innovation EXPO25

    Participant: Dan Brahmy, Co-Founder and Chief Executive Officer.

    Format: Company presentation and one-on-one meetings.

    When: Wednesday, May 21, in New York, NY, with the company presenting at 11:30am ET.

    About Cyabra

    Cyabra is a real-time AI-powered platform that uncovers and analyzes online disinformation and misinformation by uncovering fake profiles, harmful narratives, and GenAI content across social media and digital news channels. Cyabra’s AI solutions protect corporations and governments against brand reputation risks, election manipulation, foreign interference, and other online threats. Cyabra’s platform leverages proprietary algorithms and NLP solutions, gathering and analyzing publicly available data to provide clear, actionable insights and real-time alerts that inform critical decision-making. Cyabra uncovers the good, bad, and fake online.

    Cyabra has entered into a business combination agreement (the “Business Combination Agreement”) with Trailblazer Merger Corporation I (NASDAQ: TBMC) (“Trailblazer”), a blank-check special-purpose acquisition company.

    For more information, visit www.cyabra.com.

    Investor Relations Contact:
    Miri Segal
    MS-IR
    msegal@ms-ir.com

    Media Contact:
    Jill Burkes
    Jill@cyabra.com
    Signal Contact: Jillabra.24

    About Trailblazer

    Trailblazer Merger Corporation I (Nasdaq: TBMC) is a blank check company formed and entered into a merger, shared exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. For more information, visit: www.trailblazermergercorp.com

    Forward-Looking Statements

    This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to certain products that will be the subject of a proposed transaction between Trailblazer Merger Corporation I (“Trailblazer”) and Cyabra Strategy Ltd. (“Cyabra”). All statements other than statements of historical facts contained in this press release, including statements regarding Cyabra’s business strategy, products, research and development costs, plans and objectives of management for future operations, and future results of current and anticipated product offerings, are forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to, the following risks relating to the proposed transaction: the ability to complete the Business Combination or, if Trailblazer does not consummate such Business Combination, any other initial business combination; expectations regarding Cyabra’s strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and Cyabra’s ability to invest in growth initiatives and pursue acquisition opportunities; the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement; the outcome of any legal proceedings that may be instituted against Trailblazer or Cyabra following announcement of the Business Combination Agreement and the transactions contemplated therein; the inability to complete the proposed Business Combination due to, among other things, the failure to obtain Trailblazer stockholder approval; the risk that the announcement and consummation of the proposed Business Combination disrupts Cyabra’s current operations and future plans; the ability to recognize the anticipated benefits of the proposed Business Combination; unexpected costs related to the proposed Business Combination; the amount of any redemptions by existing holders of Trailblazer’s common stock being greater than expected; limited liquidity and trading of Trailblazer’s securities; geopolitical risk and changes in applicable laws or regulations; the size of the addressable markets for Cyabra’s products and services; the possibility that Trailblazer and/or Cyabra may be adversely affected by other economic, business, and/or competitive factors; the ability to obtain and/or maintain the listing of Combined Company’s Common Stock on Nasdaq following the Business Combination; operational risk; and the risks that the consummation of the proposed Business Combination is substantially delayed or does not occur.

    Important Information for Investors and Stockholders

    An affiliate of Trailblazer has filed a registration statement on Form S-4 (the “Registration Statement”) with the SEC which includes a preliminary proxy statement of Trailblazer and a preliminary prospectus of the affiliate. Once the Registration Statement has been declared effective, a definitive Proxy Statement/Prospectus will be mailed to Trailblazer’s shareholders as of a record date to be established for voting on the merger. Trailblazer and its affiliates may also file other relevant documents regarding the merger with the SEC. Trailblazer’s shareholders and other interested persons are advised to read the preliminary Proxy Statement/Prospectus and any amendments thereto and, once available, the definitive Proxy Statement/Prospectus, in connection with Trailblazer’s solicitation of proxies for its special meeting of shareholders to be held to approve, among other things, the merger, because these documents will contain important information about the parties to the merger. Shareholders may also obtain a copy of any preliminary or definitive proxy statement, once available, as well as other documents filed with the SEC regarding the merger and other documents filed with the SEC by Parent and its affiliates, without charge, at the SEC’s website located at www.sec.gov or by directing a request to: Trailblazer’s Chief Development Officer at 510 Madison Avenue, Suite 1401, New York, NY 10022.

    Participants in the Solicitation

    Cyabra, Trailblazer, and their respective directors and executive officers may be deemed participants in the solicitation of proxies from Trailblazer stockholders regarding the transaction. Information about Trailblazer’s directors and executive officers and their ownership of Trailblazer’s securities is set forth in Trailblazer’s most recent Annual Report on Form 10-K filed with the SEC, as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing. Other information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement/prospectus pertaining to the proposed Transactions when it becomes available.

    No Offer or Solicitation

    This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, or a solicitation of any vote or approval. No sale of securities shall occur in any jurisdiction in which such offer, solicitation, or sale would be unlawful before registration or qualification under applicable laws.

    The MIL Network

  • MIL-OSI: NANO Nuclear Announces Opening Keynote Presentation and Platinum Sponsorship at the Upcoming Reuters Events: SMR & Advanced Reactor 2025 Conference

    Source: GlobeNewswire (MIL-OSI)

    New York, N.Y., May 01, 2025 (GLOBE NEWSWIRE) — NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear energy and technology company focused on developing clean energy solutions, today announced that it is the Platinum Sponsor of the upcoming Reuters Events: SMR & Advanced Reactor 2025, to be held in Nashville, Tennessee on 12-13, May 2025.

    NANO Nuclear Energy Chief Executive Officer James Walker will lead the opening keynote presentation titled, “The Growth of U.S. Advanced Reactors — Wall Street’s Success Story” at 9:00am on May 12th. In the presentation, he will explore how U.S. policy shifts, global energy demand, and the availability of clean energy focused investment capital are hastening the commercialization of advanced nuclear reactors, including small nuclear reactors (known as SMRs) like those being developed by NANO Nuclear, and how NANO Nuclear capitalized on these trends to become the best performing initial public offering in the U.S. of 2024.

    “Reuters Events offer a valuable opportunity to engage with stakeholders and leading innovators in the SMR and advanced reactor field,” said James Walker, Chief Executive Officer of NANO Nuclear. “I’m excited for NANO Nuclear to be the leading sponsor and to personally participate in this year’s conference to discuss NANO Nuclear’s journey and mission, and gain insights from the broader community shaping the future of nuclear technology.”

    Reuters Events: SMR & Advanced Reactor 2025 is the only senior-level meeting point for the SMR community, where 600+ leaders from utilities, financiers, reactor developers, technology providers and regulators unite to create meaningful connections, share trusted insights, and obtain lessons-learned to inform your multi-billion-dollar strategy at pace.

    “This conference unites some of the most forward-thinking innovators in the advanced reactor space,” said Professor Massimiliano Fratoni, Senior Director and Head of Reactor Design of NANO Nuclear. “It’s an excellent forum to learn about the direction of the nuclear industry and exchange ideas with those driving progress. I’m looking forward to the informative sessions on offer.”

    “NANO Nuclear is executing on schedule, and we expect the next 12 months to include several important regulatory and operational milestones that will help secure our leadership in the U.S. microreactor race,” said Jay Yu, Founder and Chairman of NANO Nuclear. “The achievement of these milestones would be key as we advance toward construction, demonstration, regulatory licensing and eventual commercialization and deployment for our cutting-edge reactors. I look forward to discussing our progress with investors and industry peers at the upcoming Reuters SMR & Advanced Reactor Conference.”

    A replay of Mr. Walker’s presentation if produced by Reuters Events: SMR & Advanced Reactor 2025 will be available on NANO Nuclear’s website for at least 30 days following the presentation at https://ir.nanonuclearenergy.com/news-events/events.

    About NANO Nuclear Energy, Inc.

    NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across five business lines: (i) cutting edge portable and other microreactor technologies, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.

    Led by a world-class nuclear engineering team, NANO Nuclear’s reactor products in development include patented KRONOS MMR Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign (U. of I.), “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, and the space focused, portable LOKI MMR, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors.

    Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.

    HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.

    NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micronuclear reactor technology in space. NNS is focusing on applications such as the LOKI MMR system and other power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon’s surface.

    For more corporate information please visit: https://NanoNuclearEnergy.com/

    For further NANO Nuclear information, please contact:

    Email: IR@NANONuclearEnergy.com
    Business Tel: (212) 634-9206

    PLEASE FOLLOW OUR SOCIAL MEDIA PAGES HERE:

    NANO Nuclear Energy LINKEDIN
    NANO Nuclear Energy YOUTUBE
    NANO Nuclear Energy X PLATFORM

    Cautionary Note Regarding Forward Looking Statements

    This news release, the conference presentation referred to herein, and statements of NANO Nuclear’s management in connection with this news release and such presentation contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. In this press release and the related presentation, forward-looking statements may include those related to NANO Nuclear’s development, demonstration and regulatory licensing plans and goals, as well as the anticipated future benefits to NANO Nuclear of being a publicly traded company. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”) or related state or non-U.S. nuclear fuel licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complimentary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines we anticipate, if ever, (v) risks related to the impact of U.S. and non-U.S. government regulation, policies and licensing requirements, including by the DOE and the U.S. Nuclear Regulatory Commission, and (vi) similar risks and uncertainties associated with the operating an early stage business a highly regulated and rapidly evolving industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

    Attachment

    The MIL Network

  • MIL-OSI USA: Fact Sheet: President Donald J. Trump Secures Agreement to Establish United States-Ukraine Reconstruction Investment Fund

    US Senate News:

    Source: The White House
    A FIRST-OF-ITS-KIND HISTORIC PARTNERSHIP: Under the leadership of President Donald J. Trump, the US and Ukraine entered into a historic agreement on April 30, launching a first-of-its-kind partnership for the reconstruction and long-term economic success of Ukraine.
    From start to finish, this agreement is a fully collaborative partnership between our nations, that both the United States and Ukraine will benefit from.
    This partnership represents the United States taking an economic stake in securing a free, peaceful, and sovereign future for Ukraine.
    This agreement will also strengthen the strategic partnership between the United States and Ukraine for long-term reconstruction and modernization, in response to the large-scale destruction caused by Russia’s full-scale invasion.

    The Treasury Department and the U.S. International Development Finance Corporation (DFC) will work together with the Government of Ukraine to finalize governance and advance this important partnership.
    The United States’ DFC will work together with Ukraine’s State Organization Agency on Support Public-Private Partnership, both of which are backed by the full faith and credit of their respective nations.

    LONG TERM RETURNS FOR BOTH COUNTRIES: President Trump envisioned this partnership between the Americans and the Ukrainians to show both sides’ commitment to lasting peace and prosperity in Ukraine
    This partnership between the United States and Ukraine establishes a fund that will receive 50% of royalties, license fees, and other similar payments from natural resource projects in Ukraine.
    That money will be invested in new projects in Ukraine, which will generate long term returns for both the American and Ukrainian peoples.
    As new projects are identified, resources in the fund can be quickly allocated towards economic growth, job creation, and other key Ukrainian development priorities.
    Indirect benefits will include a stronger private sector and more robust, lasting infrastructure for Ukraine’s long-term success.

    The partnership will be controlled by a company with equal representation of three Ukrainian and three American board members, who will work together through a collaborative process to make decisions for allocation of fund resources, such as investment and distributions.
    The partnership will also bring the highest levels of transparency and accountability to ensure that the people of Ukraine and the United States are able to enjoy the benefits of Ukraine’s reconstruction.

    Natural resource projects will include minerals, hydrocarbons, and related infrastructure development.
    If the United States decides to acquire these resources for ourselves, we will given first choice to either acquire them or designate the purchaser of our choice.
    Economic security is national security, and this important safeguard prevents critical resources from falling into the wrong hands.

    Importantly, this partnership sends a strong message to Russia – the United States has skin in the game and is committed to Ukraine’s long-term success.
    No state, company, or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine, including participation in projects supported by fund resources.

    MIL OSI USA News

  • MIL-OSI: XRP News: Buy $XDX Token On Presale Before Exchange Listing As Proshares XRP ETF Approval Gains Momentum

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, May 01, 2025 (GLOBE NEWSWIRE) — As the XRP ecosystem experiences its most bullish cycle in years, XenDex has emerged as the flagship DeFi project at the center of this surge. With ProShares’ XRP Futures ETF now approval underway, and growing speculation around its spot ETF counterpart, XRP’s role in institutional finance is being redefined and XenDex is perfectly positioned to ride this historic momentum.

    Amid this backdrop, XenDex has already filled its soft cap, pushing the project into its final presale phase. With major centralized exchange listings confirmed and token prices rising, investors are racing to secure $XDX tokens before the presale closes.

    Buy $XDX Now Before Pump

    Why Now Is the Time to Buy $XDX

    The $XDX presale isn’t just about getting in early, it’s about claiming a front-row seat to the future of decentralized finance on XRPL. With its growing demand, the token is now priced at:

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

    Buy Now Before the Presale Ends: https://xendex.net/presale

    Exchange Listings Secured

    Once the presale concludes, $XDX will be listed on several top-tier exchanges, including:

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

    Purchase XDX And Earn Rewards

    What Is XenDex, And Why It’s Built for the Future

    XenDex is the first all-in-one decentralized exchange (DEX) on the XRP Ledger, created to fix the very problems that have limited DeFi on XRPL. It combines ease of use, performance, and innovation, making it perfect for everyone, from first-time users to institutional traders.

    Key Features:

    • AI-Powered Copy Trading – Mirror top traders in real time to reduce losses and maximize gains
    • Non-Custodial Lending & Borrowing – Earn rewards by borrowing and lending XRP and $XDX tokens
    • Cross-Chain Trading – Swap XRP seamlessly across chains like Solana, Ethereum, and BNB
    • Staking & Yield Farming – Earn passive income by supplying liquidity to XenDex pools

    With Ripple scoring back-to-back wins, including the SEC lawsuit withdrawal, ProShares’ XRP ETF approval, and Brazil’s first XRP Spot ETF greenlight, trust in the XRP ecosystem is soaring. As capital pours in, so does demand for XRPL-native platforms like XDX.

    Join XenDex Presale Now

    Join The XDX Holders Before The Price More

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

    Visit Official XenDex Links

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

    Contact:
    Frank Richards
    Frank@xendex.net

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

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ee262b4d-a28a-4fff-a855-ee6c3eac4199

    The MIL Network

  • MIL-OSI: Parker Reports Fiscal 2025 Third Quarter Results

    Source: GlobeNewswire (MIL-OSI)

    CLEVELAND, May 01, 2025 (GLOBE NEWSWIRE) — Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today reported results for the quarter ended March 31, 2025, that included the following highlights (compared with the prior year quarter):

    Fiscal 2025 Third Quarter Highlights:

    • Sales were $5.0 billion; organic sales growth was 1%
    • Net income was $961 million, an increase of 32%, or $904 million adjusted, an increase of 6%
    • EPS were $7.37, an increase of 33%, or $6.94 adjusted, an increase of 7%
    • Segment operating margin was 23.2%, an increase of 170 bps, or 26.3% adjusted, an increase of 160 bps
    • YTD cash flow from operations increased 8% to $2.3 billion, or 15.8% of sales
    • Repurchased $650 million of shares in the quarter

    “Our third quarter performance demonstrates the strength of our business and our global team’s ability to continue to deliver record results,” said Jenny Parmentier, Chairman and Chief Executive Officer. “All reported businesses showed substantial margin expansion and helped us surpass 26% adjusted segment operating margin for the first time. We also produced record earnings per share, generated record cash flow from operations, and repurchased $650 million of shares. We recently announced a 10% increase in our quarterly cash dividend and are committed to our strategy of actively deploying capital to drive shareholder value, including acquisitions and increased share repurchase activity, depending on market conditions.”

    “The resiliency of our portfolio coupled with the power of our business system, The Win Strategy™, has enabled us to consistently deliver strong results through business cycles. With our decentralized structure and the agility of our global teams, we are confident in our ability to manage through macroeconomic uncertainty, including tariffs. We are fully committed to achieving our fiscal year 2029 financial targets.”

    This news release contains non-GAAP financial measures. Reconciliations of adjusted numbers and certain non-GAAP financial measures are included in the financial tables of this press release.

    Outlook

    Guidance for the fiscal year ending June 30, 2025 has been updated. The company expects:

    • Sales growth in fiscal 2025 of approximately (1%), with organic sales growth of approximately 1%; divestitures of (1.5%) and unfavorable currency of (0.5%)
    • Total segment operating margin of approximately 22.7%, or approximately 25.9% on an adjusted basis
    • EPS of $25.92 to $26.12, or $26.60 to $26.80 on an adjusted basis, and includes the effect of announced tariffs fully offset by mitigation actions

    Segment Results

     
    Diversified Industrial Segment
     
    North America Businesses 
    $ in mm FY25 Q3   FY24 Q3   Change   Organic Growth
    Sales $ 2,031     $ 2,231     -9.0 %   -3.5 %
    Segment Operating Income $ 467     $ 490     -4.8 %    
    Segment Operating Margin   23.0 %     22.0 %   100 bps    
    Adjusted Segment Operating Income $ 513     $ 538     -4.8 %    
    Adjusted Segment Operating Margin   25.2 %     24.1 %   110 bps    
                           
    • Achieved record adjusted segment operating margin
    • Softness in transportation, off-highway and energy markets
    • Orders positive for second consecutive quarter
           
    International Businesses
    $ in mm FY25 Q3   FY24 Q3   Change   Organic Growth
    Sales $ 1,358     $ 1,434     -5.3 %   -2.8 %
    Segment Operating Income $ 312     $ 310     0.7 %    
    Segment Operating Margin   23.0 %     21.6 %   140 bps    
    Adjusted Segment Operating Income $ 340     $ 337     1.2 %    
    Adjusted Segment Operating Margin   25.1 %     23.5 %   160 bps    
                           
    • Achieved record adjusted segment operating margin
    • Organic growth: 2% APAC; (7%) EMEA; 8% LA
    • Orders accelerate on long-cycle strength
     
    Aerospace Systems Segment
    $ in mm FY25 Q3   FY24 Q3   Change   Organic Growth
    Sales $ 1,572     $ 1,409     11.6 %   11.7 %
    Segment Operating Income $ 373     $ 289     28.9 %    
    Segment Operating Margin   23.7 %     20.5 %   320 bps    
    Adjusted Segment Operating Income $ 451     $ 376     19.8 %    
    Adjusted Segment Operating Margin   28.7 %     26.7 %   200 bps    
                           
    • Achieved record sales on continued aftermarket strength
    • Delivered record adjusted segment operating margin
    • Aerospace backlog increased to a record $7.3 billion
       
    Order Rates
       
      FY25 Q3
    Parker +9 %
    Diversified Industrial Segment – North America Businesses +3 %
    Diversified Industrial Segment – International Businesses +11 %
    Aerospace Systems Segment +14 %
         
    • Parker order rates increased to 9% reflecting our transformed portfolio and long-cycle strength
    • Aerospace orders increased to 14% driven by strength in both commercial and defense
    • Orders remained positive across all reported businesses

    About Parker Hannifin
    Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Learn more at www.parker.com or @parkerhannifin.

    Contacts:  
    Media: Financial Analysts:
    Aidan Gormley Jeff Miller
    216-896-3258 216-896-2708
    aidan.gormley@parker.com jeffrey.miller@parker.com
       
       

    Notice of Webcast
    Parker Hannifin’s conference call and slide presentation to discuss its fiscal 2025 third quarter results are available to all interested parties via live webcast today at 11:00 a.m. ET, at investors.parker.com. A replay of the webcast will be available on the site approximately one hour after the completion of the call and will remain available for one year. To register for e-mail notification of future events please visit investors.parker.com.

    Note on Orders The company reported orders for the quarter ending March 31, 2025, compared with the same quarter a year ago. All comparisons are at constant currency exchange rates, with the prior year quarter restated to the current-year rates, and exclude divestitures. Diversified Industrial comparisons are on 3-month average computations and Aerospace Systems comparisons are on rolling 12-month average computations.

    Note on Non-GAAP Financial Measures
    This press release contains references to non-GAAP financial information including (a) adjusted net income; (b) adjusted earnings per share; (c) adjusted segment operating margin for Parker and by segment; (d) adjusted segment operating income for Parker and by segment and (e) organic sales growth. The adjusted net income, adjusted earnings per share, adjusted segment operating margin, adjusted segment operating income and organic sales measures are presented to allow investors and the company to meaningfully evaluate changes in net income, earnings per share and segment operating margins on a comparable basis from period to period. Although adjusted net income, adjusted earnings per share, adjusted segment operating margin, adjusted segment operating income, and organic sales growth are not measures of performance calculated in accordance with GAAP, we believe that they are useful to an investor in evaluating the results of this quarter versus the prior period. Comparable descriptions of record adjusted results in this release refer only to the period from the first quarter of FY2011 to the periods presented in this release. This period coincides with recast historical financial results provided in association with our FY2014 change in segment reporting. A reconciliation of non-GAAP measures is included in the financial tables of this press release.

    Forward-Looking Statements
    Forward-looking statements contained in this and other written and oral reports are made based on known events and circumstances at the time of release, and as such, are subject in the future to unforeseen uncertainties and risks. Often but not always, these statements may be identified from the use of forward-looking terminology such as “anticipates,” “believes,” “may,” “should,” “could,” “expects,” “targets,” “is likely,” “will,” or the negative of these terms and similar expressions, and may also include statements regarding future performance, orders, earnings projections, events or developments. Parker cautions readers not to place undue reliance on these statements. It is possible that the future performance may differ materially from expectations, including those based on past performance.

    Among other factors that may affect future performance are: changes in business relationships with and orders by or from major customers, suppliers or distributors, including delays or cancellations in shipments; disputes regarding contract terms, changes in contract costs and revenue estimates for new development programs; changes in product mix; ability to identify acceptable strategic acquisition targets; uncertainties surrounding timing, successful completion or integration of acquisitions and similar transactions; ability to successfully divest businesses planned for divestiture and realize the anticipated benefits of such divestitures; the determination and ability to successfully undertake business realignment activities and the expected costs, including cost savings, thereof; ability to implement successfully business and operating initiatives, including the timing, price and execution of share repurchases and other capital initiatives; availability, cost increases of or other limitations on our access to raw materials, component products and/or commodities if associated costs cannot be recovered in product pricing; ability to manage costs related to insurance and employee retirement and health care benefits; legal and regulatory developments and other government actions, including related to environmental protection, and associated compliance costs; supply chain and labor disruptions, including as a result of tariffs and labor shortages; threats associated with international conflicts and cybersecurity risks and risks associated with protecting our intellectual property; uncertainties surrounding the ultimate resolution of outstanding legal proceedings, including the outcome of any appeals; effects on market conditions, including sales and pricing, resulting from global reactions to U.S. trade policies; manufacturing activity, air travel trends, currency exchange rates, difficulties entering new markets and economic conditions such as inflation, deflation, interest rates and credit availability; inability to obtain, or meet conditions imposed for, required governmental and regulatory approvals; changes in the tax laws in the United States and foreign jurisdictions and judicial or regulatory interpretations thereof; and large scale disasters, such as floods, earthquakes, hurricanes, industrial accidents and pandemics. Readers should also consider forward-looking statements in light of risk factors discussed in Parker’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024 and other periodic filings made with the SEC.

     
    CONSOLIDATED STATEMENT OF INCOME
     
      Three Months Ended   Nine Months Ended
    (Unaudited) March 31,   March 31,
    (Dollars in thousands, except per share amounts)   2025       2024       2025       2024  
    Net sales $ 4,960,349     $ 5,074,356     $ 14,606,926     $ 14,742,791  
    Cost of sales   3,129,951       3,279,650       9,249,899       9,478,961  
    Selling, general and administrative expenses   784,355       816,337       2,415,565       2,496,830  
    Interest expense   95,942       123,732       309,835       387,229  
    Other income, net   (44,713 )     (65,406 )     (404,230 )     (228,872 )
    Income before income taxes   994,814       920,043       3,035,857       2,608,643  
    Income taxes   33,628       193,309       427,494       548,780  
    Net income   961,186       726,734       2,608,363       2,059,863  
    Less: Noncontrolling interests   320       160       535       611  
    Net income attributable to common shareholders $ 960,866     $ 726,574     $ 2,607,828     $ 2,059,252  
                   
    Earnings per share attributable to common shareholders:              
    Basic earnings per share $ 7.48     $ 5.65     $ 20.28     $ 16.03  
    Diluted earnings per share $ 7.37     $ 5.56     $ 19.97     $ 15.82  
                   
    Average shares outstanding during period – Basic   128,442,623       128,502,829       128,619,515       128,467,209  
    Average shares outstanding during period – Diluted   130,320,802       130,593,026       130,576,225       130,169,331  
                   
                   
    CASH DIVIDENDS PER COMMON SHARE              
      Three Months Ended   Nine Months Ended
    (Unaudited) March 31,   March 31,
    (Amounts in dollars)   2025       2024       2025       2024  
    Cash dividends per common share $ 1.63     $ 1.48     $ 4.89     $ 4.44  
                   
                   
     
    RECONCILIATION OF ORGANIC GROWTH
     
    (Unaudited) Three Months Ended
      As Reported           Adjusted
      March 31, 2025   Currency   Divestitures   March 31, 2025
    Diversified Industrial Segment (7.6 )%   (1.5 )%   (2.9 )%   (3.2 )%
    Aerospace Systems Segment 11.6 %   (0.1 )%   %   11.7 %
    Total (2.2 )%   (1.0 )%   (2.1 )%   0.9 %
                   
    (Unaudited) Nine Months Ended
      As Reported           Adjusted
      March 31, 2025   Currency   Divestitures   March 31, 2025
    Diversified Industrial Segment (6.5 )%   (1.0 )%   (1.7 )%   (3.8 )%
    Aerospace Systems Segment 14.3 %   0.1 %   %   14.2 %
    Total (0.9 )%   (0.7 )%   (1.2 )%   1.0 %
                     
                     
     
    RECONCILIATION OF NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS TO ADJUSTED NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS
     
      Three Months Ended   Nine Months Ended
    (Unaudited) March 31,   March 31,
    (Dollars in thousands)   2025       2024       2025       2024  
    Net income attributable to common shareholders $ 960,866     $ 726,574     $ 2,607,828     $ 2,059,252  
    Adjustments:              
    Acquired intangible asset amortization expense   135,964       141,216       414,211       438,763  
    Business realignment charges   10,379       8,468       40,740       35,914  
    Integration costs to achieve   5,447       13,256       18,751       29,676  
    Gain on sale of building               (10,461 )      
    Gain on divestitures               (249,748 )     (25,651 )
    Saegertown incident   7,725             7,725        
    Tax effect of adjustments1   (36,689 )     (38,779 )     (82,337 )     (108,403 )
    Discrete tax benefit2   (179,849 )           (179,849 )      
    Adjusted net income attributable to common shareholders $ 903,843     $ 850,735     $ 2,566,860     $ 2,429,551  
                   
                   
     
    RECONCILIATION OF EARNINGS PER DILUTED SHARE TO ADJUSTED EARNINGS PER DILUTED SHARE
     
      Three Months Ended   Nine Months Ended
    (Unaudited) March 31,   March 31,
    (Amounts in dollars)   2025       2024       2025       2024  
    Earnings per diluted share $ 7.37     $ 5.56     $ 19.97     $ 15.82  
    Adjustments:              
    Acquired intangible asset amortization expense   1.04       1.08       3.17       3.36  
    Business realignment charges   0.08       0.06       0.31       0.27  
    Integration costs to achieve   0.04       0.10       0.14       0.23  
    Gain on sale of building               (0.08 )      
    Gain on divestitures               (1.91 )     (0.20 )
    Saegertown incident   0.06             0.06        
    Tax effect of adjustments1   (0.28 )     (0.29 )     (0.61 )     (0.82 )
    Discrete tax benefit2   (1.37 )           (1.37 )      
    Adjusted earnings per diluted share $ 6.94     $ 6.51     $ 19.68     $ 18.66  
                   
    This line item reflects the aggregate tax effect of all non-tax adjustments reflected in the preceding line items of the table. We estimate the tax effect of each adjustment item by applying our overall effective tax rate for continuing operations to the pre-tax amount, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment.
    Release of a tax valuation allowance.
     
     
    BUSINESS SEGMENT INFORMATION
     
      Three Months Ended   Nine Months Ended
    (Unaudited) March 31,   March 31,
    (Dollars in thousands)   2025     2024       2025       2024  
    Net sales              
    Diversified Industrial $ 3,388,759   $ 3,665,643     $ 10,097,723     $ 10,798,644  
    Aerospace Systems   1,571,590     1,408,713       4,509,203       3,944,147  
    Total net sales $ 4,960,349   $ 5,074,356     $ 14,606,926     $ 14,742,791  
    Segment operating income              
    Diversified Industrial $ 779,103   $ 800,211     $ 2,273,211     $ 2,359,299  
    Aerospace Systems   372,908     289,339       1,034,078       778,711  
    Total segment operating income   1,152,011     1,089,550       3,307,289       3,138,010  
    Corporate general and administrative expenses   43,698     56,782       148,756       162,340  
    Income before interest expense and other expense (income), net   1,108,313     1,032,768       3,158,533       2,975,670  
    Interest expense   95,942     123,732       309,835       387,229  
    Other expense (income), net   17,557     (11,007 )     (187,159 )     (20,202 )
    Income before income taxes $ 994,814   $ 920,043     $ 3,035,857     $ 2,608,643  
                   
                   
     
    RECONCILIATION OF SEGMENT OPERATING MARGINS TO ADJUSTED SEGMENT OPERATING MARGINS
     
      Three Months Ended   Nine Months Ended
    (Unaudited) March 31,   March 31,
    (Dollars in thousands)   2025       2024       2025       2024  
    Diversified Industrial Segment sales $ 3,388,759     $ 3,665,643     $ 10,097,723     $ 10,798,644  
                   
    Diversified Industrial Segment operating income $ 779,103     $ 800,211     $ 2,273,211     $ 2,359,299  
    Adjustments:              
    Acquired intangible asset amortization   61,600       66,409       189,434       201,669  
    Business realignment charges   10,249       6,953       38,492       32,877  
    Integration costs to achieve   2,072       1,292       3,477       3,302  
    Adjusted Diversified Industrial Segment operating income $ 853,024     $ 874,865     $ 2,504,614     $ 2,597,147  
                   
    Diversified Industrial Segment operating margin   23.0 %     21.8 %     22.5 %     21.8 %
    Adjusted Diversified Industrial Segment operating margin   25.2 %     23.9 %     24.8 %     24.1 %
                   
                   
      Three Months Ended   Nine Months Ended
    (Unaudited) March 31,   March 31,
    (Dollars in thousands)   2025       2024       2025       2024  
    Aerospace Systems Segment sales $ 1,571,590     $ 1,408,713     $ 4,509,203     $ 3,944,147  
                   
    Aerospace Systems Segment operating income $ 372,908     $ 289,339     $ 1,034,078     $ 778,711  
    Adjustments:              
    Acquired intangible asset amortization   74,364       74,807       224,777       237,094  
    Business realignment charges   35       (12 )     429       318  
    Integration costs to achieve   3,375       11,964       15,274       26,374  
    Adjusted Aerospace Systems Segment operating income $ 450,682     $ 376,098     $ 1,274,558     $ 1,042,497  
                   
    Aerospace Systems Segment operating margin   23.7 %     20.5 %     22.9 %     19.7 %
    Adjusted Aerospace Systems Segment operating margin   28.7 %     26.7 %     28.3 %     26.4 %
                   
           
      Three Months Ended   Nine Months Ended
    (Unaudited) March 31,   March 31,
    (Dollars in thousands)   2025       2024       2025       2024  
    Total net sales $ 4,960,349     $ 5,074,356     $ 14,606,926     $ 14,742,791  
                   
    Total segment operating income $ 1,152,011     $ 1,089,550     $ 3,307,289     $ 3,138,010  
    Adjustments:              
    Acquired intangible asset amortization   135,964       141,216       414,211       438,763  
    Business realignment charges   10,284       6,941       38,921       33,195  
    Integration costs to achieve   5,447       13,256       18,751       29,676  
    Adjusted total segment operating income $ 1,303,706     $ 1,250,963     $ 3,779,172     $ 3,639,644  
                   
    Total segment operating margin   23.2 %     21.5 %     22.6 %     21.3 %
    Adjusted total segment operating margin   26.3 %     24.7 %     25.9 %     24.7 %
                                   
                                   
     
    CONSOLIDATED BALANCE SHEET
     
    (Unaudited) March 31,   June 30,
    (Dollars in thousands)   2025     2024
    Assets      
    Current assets:      
    Cash and cash equivalents $ 408,735   $ 422,027
    Trade accounts receivable, net   2,852,833     2,865,546
    Non-trade and notes receivable   281,789     331,429
    Inventories   2,822,547     2,786,800
    Prepaid expenses   253,436     252,618
    Other current assets   157,800     140,204
    Total current assets   6,777,140     6,798,624
    Property, plant and equipment, net   2,821,566     2,875,668
    Deferred income taxes   271,431     92,704
    Investments and other assets   1,215,201     1,207,232
    Intangible assets, net   7,370,524     7,816,181
    Goodwill   10,461,946     10,507,433
    Total assets $ 28,917,808   $ 29,297,842
           
    Liabilities and equity      
    Current liabilities:      
    Notes payable and long-term debt payable within one year $ 1,951,543   $ 3,403,065
    Accounts payable, trade   1,980,967     1,991,639
    Accrued payrolls and other compensation   473,725     581,251
    Accrued domestic and foreign taxes   356,506     354,659
    Other accrued liabilities   851,725     982,695
    Total current liabilities   5,614,466     7,313,309
    Long-term debt   7,421,370     7,157,034
    Pensions and other postretirement benefits   389,891     437,490
    Deferred income taxes   1,399,612     1,583,923
    Other liabilities   692,644     725,193
    Shareholders’ equity   13,390,974     12,071,972
    Noncontrolling interests   8,851     8,921
    Total liabilities and equity $ 28,917,808   $ 29,297,842
           
           
     
    CONSOLIDATED STATEMENT OF CASH FLOWS
     
      Nine Months Ended
    (Unaudited) March 31,
    (Dollars in thousands)   2025       2024  
    Cash flows from operating activities:      
    Net income $ 2,608,363     $ 2,059,863  
    Depreciation and amortization   677,665       696,463  
    Stock incentive plan compensation   129,766       128,682  
    Gain on sale of businesses   (253,043 )     (23,667 )
    (Gain) loss on property, plant and equipment and intangible assets   (8,531 )     5,847  
    Net change in receivables, inventories and trade payables   (101,351 )     (244,268 )
    Net change in other assets and liabilities   (514,937 )     (427,509 )
    Other, net   (229,171 )     (48,334 )
    Net cash provided by operating activities   2,308,761       2,147,077  
    Cash flows from investing activities:      
    Capital expenditures   (304,153 )     (283,328 )
    Proceeds from property, plant and equipment   31,871       8,905  
    Proceeds from sale of businesses   622,697       75,561  
    Other, net   (5,745 )     4,561  
    Net cash provided by (used in) investing activities   344,670       (194,301 )
    Cash flows from financing activities:      
    Net payments for common stock activity   (856,925 )     (237,689 )
    Acquisition of noncontrolling interests         (2,883 )
    Net payments for debt   (1,193,952 )     (1,193,373 )
    Dividends paid   (630,168 )     (571,583 )
    Net cash used in financing activities   (2,681,045 )     (2,005,528 )
    Effect of exchange rate changes on cash   14,322       (16,946 )
    Net decrease in cash and cash equivalents   (13,292 )     (69,698 )
    Cash and cash equivalents at beginning of year   422,027       475,182  
    Cash and cash equivalents at end of period $ 408,735     $ 405,484  
           
           
    RECONCILIATION OF FORECASTED ORGANIC GROWTH  
    (Unaudited)  
    (Amounts in percentages) Fiscal Year 2025
    Forecasted net sales ~ (1%)
    Adjustments:  
    Currency 0.5%
    Divestitures 1.5%
    Adjusted forecasted net sales ~ 1%
       
       
    RECONCILIATION OF FORECASTED SEGMENT OPERATING MARGIN TO ADJUSTED FORECASTED SEGMENT OPERATING MARGIN
       
    (Unaudited)  
    (Amounts in percentages) Fiscal Year 2025
    Forecasted segment operating margin ~ 22.7%
    Adjustments:  
    Business realignment charges 0.3%
    Costs to achieve 0.1%
    Acquisition-related intangible asset amortization expense 2.8%
    Adjusted forecasted segment operating margin ~ 25.9%
       
     
       
    RECONCILIATION OF FORECASTED EARNINGS PER DILUTED SHARE TO ADJUSTED FORECASTED EARNINGS PER DILUTED SHARE
       
    (Unaudited)  
    (Amounts in dollars) Fiscal Year 2025
    Forecasted earnings per diluted share $25.92 to $26.12
    Adjustments:  
    Business realignment charges 0.47
    Costs to achieve 0.17
    Acquisition-related intangible asset amortization expense 4.22
    Net gain on divestitures (1.91)
    Gain on sale of building (0.08)
    Saegertown incident 0.06
    Tax effect of adjustments1 (0.88)
    Discrete tax benefit2 (1.37)
    Adjusted forecasted earnings per diluted share $26.60 to $26.80
       
    This line item reflects the aggregate tax effect of all non-tax adjustments reflected in the preceding line items of the table. We estimate the tax effect of each adjustment item by applying our overall effective tax rate for continuing operations to the pre-tax amount, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment.
       
    Release of a tax valuation allowance.  
       
    Note: Totals may not foot due to rounding
     
     
    SUPPLEMENTAL INFORMATION
     
    BUSINESS SEGMENT INFORMATION
      Three Months Ended   Nine Months Ended
    (Unaudited) March 31,   March 31,
    (Dollars in thousands)   2025     2024     2025     2024
    Net sales              
    Diversified Industrial:              
    North America businesses $ 2,030,970   $ 2,231,478   $ 6,059,302   $ 6,571,587
    International businesses   1,357,789     1,434,165     4,038,421     4,227,057
                   
    Segment operating income              
    Diversified Industrial:              
    North America businesses $ 467,064   $ 490,452   $ 1,378,194   $ 1,458,355
    International businesses   312,039     309,759     895,017     900,944
                           
                           
       
    RECONCILIATION OF ORGANIC GROWTH
       
    (Unaudited) Three Months Ended
      As Reported             Adjusted
      March 31, 2025   Currency     Divestitures   March 31, 2025
    Diversified Industrial Segment:                
    North America businesses (9.0 )%   (0.8 )%   (4.7 )%   (3.5 )%
    International businesses:                
    Europe (8.6 )%   (1.7 )%   %   (6.9 )%
    Asia Pacific (0.8 )%   (3.0 )%   %   2.2 %
    Latin America (0.2 )%   (8.1 )%   %   7.9 %
    International businesses (5.3 )%   (2.5 )%   %   (2.8 )%
                     
    (Unaudited) Nine Months Ended
      As Reported             Adjusted
      March 31, 2025   Currency     Divestitures   March 31, 2025
    Diversified Industrial Segment:                
    North America businesses (7.8 )%   (0.6 )%   (2.7 )%   (4.5 )%
    International businesses:                
    Europe (8.1 )%   (0.4 )%   %   (7.7 )%
    Asia Pacific 0.8 %   (1.9 )%   %   2.7 %
    Latin America (3.3 )%   (13.9 )%   %   10.6 %
    International businesses (4.5 )%   (1.8 )%   %   (2.7 )%
                       
                       
     
    RECONCILIATION OF SEGMENT OPERATING MARGINS TO ADJUSTED SEGMENT OPERATING MARGINS
     
      Three Months Ended   Nine Months Ended
    (Unaudited) March 31,   March 31,
    (Dollars in thousands)   2025       2024       2025       2024  
    Diversified Industrial Segment:              
    North America businesses sales $ 2,030,970     $ 2,231,478     $ 6,059,302     $ 6,571,587  
                   
    North America businesses operating income $ 467,064     $ 490,452     $ 1,378,194     $ 1,458,355  
    Adjustments:              
    Acquired intangible asset amortization   40,209       43,945       124,169       133,327  
    Business realignment charges   4,218       3,058       13,106       8,892  
    Integration costs to achieve   1,038       841       2,088       2,348  
    Adjusted North America businesses operating income $ 512,529     $ 538,296     $ 1,517,557     $ 1,602,922  
                   
    North America businesses operating margin   23.0 %     22.0 %     22.7 %     22.2 %
    Adjusted North America businesses operating margin   25.2 %     24.1 %     25.0 %     24.4 %
                   
           
      Three Months Ended   Nine Months Ended
    (Unaudited) March 31,   March 31,
    (Dollars in thousands)   2025       2024       2025       2024  
    Diversified Industrial Segment:              
    International businesses sales $ 1,357,789     $ 1,434,165     $ 4,038,421     $ 4,227,057  
                   
    International businesses operating income $ 312,039     $ 309,759     $ 895,017     $ 900,944  
    Adjustments:              
    Acquired intangible asset amortization   21,391       22,464       65,265       68,342  
    Business realignment charges   6,031       3,895       25,386       23,985  
    Integration costs to achieve   1,034       451       1,389       954  
    Adjusted International businesses operating income $ 340,495     $ 336,569     $ 987,057     $ 994,225  
                   
    International businesses operating margin   23.0 %     21.6 %     22.2 %     21.3 %
    Adjusted International businesses operating margin   25.1 %     23.5 %     24.4 %     23.5 %
                                   

    The MIL Network

  • MIL-OSI: Aquaron Announces Postponement of Annual Meeting

    Source: GlobeNewswire (MIL-OSI)

    Meeting to Now be Held on Tuesday, May 6, 2025 at 11:00 a.m. Via Live Audio Webcast

    NEW YORK, May 01, 2025 (GLOBE NEWSWIRE) — Aquaron Acquisition Corp. (“Aquaron” or the “Company”) (OTCMKTS: AQUC), a publicly traded special purpose acquisition company, today announced that its Annual Meeting of Stockholders (the “Annual Meeting”), originally scheduled for Friday, May 2, 2025 at 11:00 a.m. (Eastern Time), has been postponed. The Annual Meeting is now scheduled to be held on Tuesday, May 6, 2025 at 11:00 a.m. (Eastern Time) and will still be held virtually via live audio webcast at www.cleartrustonline.com/aqu. 

    The record date for the Annual Meeting, April 2, 2025, remains unchanged and applies to the postponed Annual Meeting.

    The Annual Meeting has been postponed allowing for further time to solicit proxies from the Company’s stockholders and provide stockholders with additional time to vote in order to facilitate broader participation.

    Stockholders who have already cast their votes do not need to take any action, unless they wish to change or revoke their prior proxy or voting instructions, and their votes will be counted at the postponed Annual Meeting. For stockholders who have not yet cast their votes, we urge them to vote their shares now, so they can be tabulated prior to the postponed Annual Meeting.

    The Company’s board of directors unanimously recommends that you vote FOR the proposals identified in the Company’s Definitive Proxy Statement for the Annual Meeting.

    Important Additional Information

    Information with respect to the proposals to be considered at the Annual Meeting and instructions on how to vote can be found in the Definitive Proxy Statement filed by the Company with the U.S. Securities and Exchange Commission on April 14, 2025 with respect to the Annual Meeting. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) FILED BY THE COMPANY AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT ANY SOLICITATION. Stockholders may obtain a copy of the Proxy Statement at the SEC’s web site www.sec.gov.

    If a stockholder has any questions about submitting a proxy or requires assistance, please contact Aquaron proxy solicitor, ClearTrust, at 813.235.4490 (call collect), or by sending an email to inbox@cleartrusttransfer.com.

    Whether or not stockholders plan to attend the postponed Annual Meeting online, we urge you to vote your shares as described in the Definitive Proxy Statement for the Annual Meeting. It is important that every stockholder’s shares be represented at the Annual Meeting regardless of the number of shares held. The Company urges stockholders to please consider the issues presented in the Definitive Proxy Statement for the Annual Meeting and promptly vote the stockholder’s shares to ensure that such shares are represented at the Annual Meeting. Submitting a proxy now will not prevent a stockholder from voting the stockholder’s shares at the postponed Annual Meeting if the stockholder desires to do so, as a proxy is revocable at the stockholder’s option.

    About Aquaron

    Aquaron is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

    Forward-Looking Statements

    This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

    Yi Zhou
    yizhou@aquaroncorp.com
    Aquaron Acquisition Corp.

    The MIL Network

  • MIL-OSI NGOs: Türkiye: Ban on May Day celebrations in Istanbul’s Taksim Square must be lifted  

    Source: Amnesty International –

    The Turkish authorities must lift all restrictions on a planned May Day solidarity demonstration in Istanbul’s Taksim Square and allow people to gather peacefully in accordance with a ruling by Türkiye’s Constitutional Court, Amnesty International said. 

    The organization is also calling on law enforcement officials to respect, protect and facilitate people’s right to peaceful assembly and not use force against peaceful protesters. Some trade unions and other civil society organizations have pledged to gather in Taksim Square despite preparations to restrict the square with metal barriers and several social media posts by the Istanbul governor Davut Gül in recent days declaring that the area remains off-limits. On 29 and 30 April, dozens of individuals were detained from their homes in advance of May Day, in what was reported as a pre-emptive action in relation to their plans to assemble in Taksim Square. 

    The restrictions on May Day celebrations in Taksim Square are based on entirely spurious security and public order grounds

     
    “The restrictions on May Day celebrations in Taksim Square are based on entirely spurious security and public order grounds and fly in the face of the 2023 Constitutional Court ruling. The restrictions must be urgently lifted,” said Amnesty International’s Deputy Regional Director for Europe, Dinushika Dissanayake. 
     
    “Taksim Square is a place of huge symbolic significance for the Turkish trade union and workers movements and others who have gathered in protest and in celebration. For more than a decade, the Turkish authorities have unlawfully restricted people’s right to peaceful assembly and criminalized peaceful protests that take place in the square. It is vital that this year, May Day celebrations are able to proceed.” 
     
    The ban on May Day rallies in Taksim Square dates back to 2013, when, on multiple occasions, the police violently prevented trade unions, their supporters and other organizations from gathering. 
     
    In December 2023, Türkiye’s Constitutional Court ruled that the right to freedom of peaceful assembly of DİSK (the Confederation of Revolutionary Workers’ Trade Unions), during the May Day celebrations in Taksim Square in 2014 and 2015 had been violated by the bans and forceful dispersals of protesters by law enforcement officials. In 2013, a European Court of Human Rights ruling had also found violation of the right to peaceful assembly by the state for the restrictions on the May Day rally in Taksim Square in 2008.  

    It is vital that May Day celebrations are able to proceed

     
    “The binding decisions of the Constitutional Court and the European Court of Human Rights must be respected by the authorities,” said Dinushika Dissanayake. 
     
    “The Turkish authorities, including law enforcement officials, must ensure that they fulfil their duty to enable peaceful assemblies to take place. They must also take all necessary steps to protect participants’ enjoyment of their rights.” 
      
    Background 
     
    On 20 April 2025, the Governor of Istanbul Davut Gül stated on social media platform X: “for the foreseeable future, no collective actions have been permitted in Taksim Square and Istiklal Avenue on security grounds”.

    In 2024 the authorities attempted to justify the ban by claiming that Taksim’s location and the heavy traffic would make it difficult to ensure the protection of rights and freedoms and also referred to risks of “terror attacks”. 
     
    In 2009, the government declared 1 May an official public holiday and, for the first time in 32 years, some workers and their organizations were allowed to gather peacefully in Taksim Square. The area was closed to demonstrations again in 2013 for supposed security concerns. 
     
    The Constitutional Court ruled in 2023 that preventing May Day celebrations at Taksim Square constituted a violation of the constitutional right to organize public meetings and demonstrations, as safeguarded by Article 34 of the Constitution. 

    On 14 May, Amnesty International will publish tits findings into unnecessary and excessive use of force against peaceful protesters during demonstrations that followed the arrest of the mayor of Istanbul in March 2025. 

    MIL OSI NGO

  • MIL-OSI United Nations: Experts of the Committee on the Elimination of Racial Discrimination Commend Mauritius on Intercontinental Slavery Museum, Raise Questions on Mandatory HIV Testing for Migrant Workers and the Treatment of the Chagossian People

    Source: United Nations – Geneva

    The Committee on the Elimination of Racial Discrimination today concluded its consideration of the combined twenty-fourth and twenty-fifth periodic reports of Mauritius, with Committee Experts commending the State on the Intercontinental Slavery Museum, while raising questions on mandatory HIV testing for migrant workers, and the treatment of the Chagossian people.

    Pela Boker Wilson, Committee Expert and Country Rapporteur, said the Committee commended the State party for the 20 October 2020 official launch of the Intercontinental Slavery Museum under the theme “breaking the silence”, to remember the suffering, resilience and struggle for freedom of the forefathers, and to honour interculturality and promote remembrance and reconciliation.

    Chrispine Gwalawala Sibande, Committee Expert and Country Co-Rapporteur, said Mauritius still applied HIV related restrictions on the entry, stay and residence of non-nationals, with migrant workers being required to provide evidence of their negative HIV status to qualify for work and residence permits.  Would the delegation clarify reports that Mauritius required HIV testing for any residency permit longer than 90 days, and applicants were denied on the basis of HIV status?  What had the Government done to make sure it did not violate the rights of people, especially migrants, on the basis of HIV status?  What were the plans to reform the HIV/AIDS and immigration laws in Mauritius? 

    Ms. Boker Wilson also asked what steps the State party had taken to ensure the rights of the Chagossian people in negotiations with the United Kingdom’s Government?  Another Committee Expert said the Chagossian people had suffered a harm that had been significant.  They were due reparations and restitutions and needed to be involved in these negotiations.  Those who were descendants of a system of enslavement enforced on people in Mauritius were victims of a harm which needed to be repaired.  It was important to look at best practice examples from other countries. Had there been restitutions for the Chagossian people who had been disadvantaged? 

    Introducing the report, Gavin Patrick Cyril Glover S.C, Attorney General of Mauritius and head of the delegation, said the Government Programme 2025–2029 announced the setting up of a Constitutional Review Commission to make recommendations on constitutional and electoral reforms. The work of the Commission would also address several issues of direct relevance to the Committee’s concerns, including the future of the Best Loser System, the use of Kreol as a parliamentary language, and broader questions of equality and representation in Mauritian institutions.  He concluded by stating that Mauritius reaffirmed its deep commitment to the Convention and looked forward to a constructive exchange. 

    Mr. Glover, responding to questions, said all migrant workers had to comply with the law and present a HIV negative test result before being granted access to the country.  If a test was positive, they were not allowed to work and had to leave the country.  For those who contracted the disease in the country, they received the same treatment as nationals, regardless of their origin.  There were currently 60 foreign workers receiving treatment for HIV/AIDS. There was no discrimination when this test was applied; it was applied across the board, wherever you came from. It was implemented as a public health policy by the Government, due to Mauritius’ small size.  Unfortunately for the time being, this would stay in place. 

    Mr. Glover said since 1999, the Chagossians welfare fund act was established.  Dedicated educational support, including scholarships, and healthcare programmes were also provided, and the State conducted regular visits to the communities. The Government remained firmly committed to the resettlement of the Chagossians in the Chagos Archipelago and ensuring the full human rights of this group.  Mauritius was in the process of finalising with Great Britain the return of the Chagos Archipelago.  It was expected that the terms would result in a positive outcome. 

    In concluding remarks, Ms. Boker Wilson extended sincere thanks and appreciation to the delegation for the interactive dialogue. The delegation had delivered on its pledge to ensure openness and accountability, and the State party’s commitment to continuity was appreciated. 

    Mr. Glover, in his concluding remarks, extended thanks for the dialogue which had taken place.  Mauritius viewed this exchange as an opportunity to reflect openly and recommit the State to the principles of the Convention.  History left long shadows, but Mauritius believed that progress was possible.  The State was committed to achieving unity, dignity and justice for all.   

    The delegation of Mauritius consisted of representatives of the Attorney General’s Office; the Ministry of Foreign Affairs, Regional Integration and International Trade; and the Permanent Mission of Mauritius to the United Nations Office at Geneva.

    The Committee will issue its concluding observations on the report of Mauritius after the conclusion of its one hundred and fifteenth session on 9 May 2025.  The programme of work and other documents related to the session can be found here. Summaries of the public meetings of the Committee can be found here, while webcasts of the public meetings can be found here.

    The Committee will next meet in public on Tuesday, 29 April at 3.p.m to review the combined twentieth to twenty-second periodic reports of the Republic of Korea (CERD/C/KOR/20-22).

    Report

    The Committee has before it the combined twenty-fourth and twenty-fifth periodic reports of Mauritius (CERD/C/MUS/24-25).

    Presentation of Report

    BRIAN NEIL JOSEPH GLOVER, Permanent Representative of Mauritius to the United Nations Office at Geneva, expressed appreciation to the Committee for allowing the dialogue to take place in a hybrid format. He then introduced the delegation of Mauritius.

    GAVIN PATRICK CYRIL GLOVER S.C, Attorney General of Mauritius and head of the delegation, said that since the combined report was submitted in July 2021, several developments had affected the application of the Convention in Mauritius.  In retrospect, Mauritius recognised that paragraphs 4 and 5 of the report should have engaged more meaningfully with the concerns of the Committee; this approach had been reassessed and today the State was committed to more openness and accountability.  In November 2024, a new government was elected with a vision which included a renewed commitment to human rights.  During the dialogue, the State would aim neither to disown the past nor engage in political blame, but would reaffirm Mauritius’ enduring commitment to the Convention. 

    Some of the issues relating to disaggregated data, ethnic identification, and racial disparities were deeply complex and sensitive in Mauritius.  It was a proudly diverse society, but also one shaped by a painful history of division.  Against this backdrop, classifying individuals along ethnic lines remained politically sensitive and socially divisive.  However, the State accepted that the absence of such data must not become an excuse for blindness to discrimination.  Mauritius welcomed the guidance of the Committee to chart a path forward that was principled and mindful of the national context.  To mark the sixtieth anniversary of the Convention, it was being translated by the Government into Kreol Morisien for public dissemination.

    The Government Programme 2025–2029 announced the setting up of a Constitutional Review Commission to make recommendations on constitutional and electoral reforms.  The work of the Commission would also address several issues of direct relevance to the Committee’s concerns, including the future of the Best Loser System, the use of Kreol as a parliamentary language, and broader questions of equality and representation in Mauritian institutions.  Since the submission of the report, Mauritius had enacted several important legislative reforms, including the private recruitment agencies act 2023; the combatting of trafficking in persons (amendment) act 2023; the immigration act 2022; the protection and promotion of the rights of persons with disabilities act 2024; and a gender equality commission bill. 

    The Best Loser System continued to operate within Mauritius’ electoral framework. 

    Following the 2024 general elections, and with the operation of the Best Loser System, the National Assembly now comprised of 36 members from the Hindu community, nine members from the Muslim community, two members from the Sino-Mauritian community, 19 members from the general population, and one non-elected member.  Many civil society groups had called for the abolition of community-based classifications, while others urged updating the census, believing that the Best Loser System could still offer an important safeguard for minorities.

    Navigating this dilemma would be one of the challenges that the Constitutional Review Commission would be called to address. 

    The Government of Mauritius remained strongly committed to implementing a resettlement plan in the Chagos Archipelago and supported the aspirations of Chagossians, as Mauritian citizens, to be able to resettle in the Chagos Archipelago if they wished.  An amount of Rs 50 million had been earmarked for 2024-2025 for visits to be undertaken to the Chagos Archipelago as groundwork for a proper resettlement.  In Mauritius, out of a population of 1,233,097, Kreol was the language habitually spoken by 968,952 persons.  Regarding the use of Kreol in Parliament, meetings were being organised with a view to looking into the practical hurdles that needed to be cleared before introducing the Kreol Morisien language in the National Assembly. 

    A new public website would shortly offer free access to updated legislation and all international treaties binding Mauritius, including the Convention.  The State’s legislation criminalised hate speech and incitement to racial or religious hatred. Human rights education remained a national priority, and the National Human Rights Commission conducted workshops and collaborated with civil society to promote equality.  Sensitisation campaigns targeted both youth and the wider public, including the distribution of the Universal Declaration of Human Rights in Kreol Morisien.  Mr. Glover concluded by stating that Mauritius reaffirmed its deep commitment to the Convention and looked forward to a constructive exchange. 

    MICHAL BALCERZAK, Committee Chair thanked the delegation for the invaluable contribution of Committee Expert Yeung Sik Yuen Yeung Kam John, from Mauritius. 

    Questions by a Committee Expert

    PELA BOKER WILSON, Committee Expert and Country Rapporteur, said 

    regrettably, the Committee noted the State party’s persistent position that the collection of data disaggregated by ethnicity ran contrary to national unity and the fostering of a rainbow nation.  The Committee recognised the State’s priorities in promoting national unity.  The State party was encouraged to meet its obligation of collecting and publishing data disaggregated by grounds of discrimination, recognised in international human rights law.  Notwithstanding this position, could the State party share how the rights guaranteed under the Convention were being enjoyed by the various ethnic groups, including the Creoles, Chagossians and Ilois? What steps had Mauritius taken to collect and evaluate socio-economic indicators across various ethnic minorities to develop evidence-based socio-economic policies?  Could information be provided on the composition of the population in respect of non-nationals such as migrants, refugees, asylum seekers and stateless persons disaggregated by residence status, sex and age?

    Had the State party taken any action, in the form of training or awareness raising, on anti-discrimination for magistrates, judges, prosecutors and police to further the application of the Convention by domestic courts?  Had there been any steps by the State party to enact comprehensive anti-discrimination legislation as a means of ensuring that victims had access remedies for discrimination?  Could examples be provided of cases in which the Convention had been directly applied by judges, or invoked before the courts? 

    The Committee had requested the State party to hold countrywide consultations to bring about a change of the existing classification of groups, including in the Constitution, giving due account to the principle of self-identification and the Committee’s general recommendation no. 8 (1990) concerning the interpretation and application of article 1 (1) and (4) of the Convention.  Had such consultations been held? 

    Could information be provided regarding awareness-raising campaigns and educational programmes aimed at showcasing the contribution of each ethnic group to the development of the State party’s society? Did the State party have updated information on the preparation of a human rights action plan for the period 2024-2030? What measures had the State party undertaken to implement a comprehensive strategy and national action plan to combat racism, racial discrimination, intolerance, and any manifestation of racial or caste-based superiority?

    The Committee encouraged the State party to give due consideration to revising the equal opportunities act, with a view to include language among the prohibited grounds of discrimination, and to introduce a legal provision on special measures aimed at accelerating the full and equal enjoyment of rights by disadvantaged groups.  Could the State party provide information on the overall implementation of the act?  What claims had been filed under it and what effects had it had? 

    Had the State party undertaken efforts at ensuring its recommendation regarding the jurisdiction of the Equal Opportunities Commission to investigate complaints against civil servants, and the handing down of sanctions commensurate with the gravity of the offences?  How was the development of the land division dealing with land dispossession and ownership claims?  What impact had the recent changes to the law against human trafficking had on the fight against human trafficking in Mauritius? 

    What efforts had been undertaken to ensure that the Criminal Code and other relevant legislation prohibited and punished racist hate speech, as well as organizations that promoted and incited racial discrimination?  Were there updated statistics on complaints registered with the courts or any other national institution for acts of racial discrimination, racist hate speech and racist hate crimes, including over the Internet and through the media?

    The Committee commended the State party for the 20 October 2020 official launch of the Intercontinental Slavery Museum under the theme “breaking the silence”, to remember the suffering, resilience and struggle for freedom of the forefathers, and to honour interculturality and promote remembrance and reconciliation.  Could information be provided on the implementation of other recommendations of the Truth and Justice Commission relating to land dispossession and ownership claims?  What had the Truth and Justice Commission done to investigate and respond to the lingering effects of colonialism and the slave trade in Mauritius?  What other measures was the State party considering that could address the racial disparities and legacies of colonialism and the slave trade?

    Responses by the Delegation

    GAVIN PATRICK CYRIL GLOVER S.C, Attorney General of Mauritius and head of the delegation, said it was regretful that the Equal Opportunities Commission had not been a model of what it could be. The State took the suggestion of the inclusion of language as a possible segment of discrimination very seriously. Primary and secondary education was free in Mauritius and all students were taught English and French, whatever their economic and social background.  No one was left behind, but it was recognised that those falling out of the system needed to be helped.  It was possible that an amendment could be introduced to cater to those who slipped through the net. 

    Based on a population census in 2020, there were more than 1.2 million people living in the Republic of Mauritius, with the majority being of Mauritian nationality.  Around 40 per cent of those had reported their religion as Hindu; 32 per cent had reported their religion as Christian, 18 per cent had reported their religion as Muslim; and the remaining identified as “other” or did not supply the religion.  Some 79 per cent of the population spoke Kreol at home. 

    Statistics regarding the prison population were difficult to pinpoint, given the movement of people within the prison system.  Information on ethnic origin was not collected, but information on religion and citizenship was provided.  As of April 2025, the Mauritian prison system housed 2,858 detainees, with 60 per cent being Roman Catholic.  Foreign nationals represented 9.7 per cent of the prison population.  As of January 2025, there were more than 48,000 migrant workers in Mauritius with valid work permits, working across various sectors, including manufacturing, retail and trade, among others.  There were no reported cases of stateless persons in Mauritius.

    Questions by Committee Experts

    PELA BOKER WILSON, Committee Expert and Country Rapporteur, asked what the delegation meant about the movement of the detained persons; could this be clarified?

    The attention of the Committee was drawn to the vagrancy act of 1867, which criminalised individuals who lacked a fixed residence, means of subsistence, or regular employment.  There had been reports that the history of the law was related to colonialist and racist efforts that controlled the movement of Indian labourers, referencing a historical event where thousands of Indians were reportedly imprisoned under brutal conditions.  Did the State party have plans to repeal this act? 

    There had also been reports that the morality clauses in article 6 of the immigration act were rooted in colonial-era mentalities, and could have a disproportionate and discriminatory impact on minorities.  Had Mauritius investigated this?  Article 5 of the immigration act banned individuals with infectious, contagious, or communicable diseases.  This could encompass HIV/AIDS, which disproportionately affected marginalised groups.  Had Mauritius investigated this?

    A Committee Expert asked if the racial tensions in the country had disappeared?  What had caused more harmonious relations? 

    Another Expert asked what percentage of descendants of slavery were a part of the Mauritian population today? 

    A Committee Expert said the Truth and Justice Commission addressed the issue of land confiscation; what results had been achieved by the court set up to address these cases?  Was the State certain that when it revoked the citizenship of a person, they would not become stateless?

    An Expert said Mauritius had unfortunately experienced the effects of British colonisation, and English people were still present within the country.  The people were waiting for Mauritius to be liberated from the British presence. Mauritius had the resources to help Africa to emerge from the long colonial night of slavery. 

    Responses by the Delegation

    GAVIN PATRICK CYRIL GLOVER S.C, Attorney General of Mauritius and head of the delegation, said Mauritius was fully committed to complete the decolonisation process of Africa, for those in the Chagos Archipelago, and it was hoped that this would become a reality in the coming weeks.  In 1995, a law was passed, and all Mauritians who came of age after this date were automatically granted Mauritian nationality.  There was a willingness and necessity for the piece of legislation to be changed today, so everyone could be on the same level. 

    There was no prosecution in Mauritius for being a vagrant, but there had been prosecutions under the offence of being a “rogue or vagabond” which was a different matter.  There were more than 800 of these cases prosecuted in 2024. This was a matter which would be taken up in the reform of the criminal justice system.  The State was aware of the discrepancies of the immigration act regarding communicable diseases, and acknowledged there was a need to review this legislation.  There had previously been an abominable piece of legislation, the Hoffman law, which enabled a citizenship provided to a non-citizen to be revoked.  This would also be reviewed. 

    There was a latent possibility of tensions rising and the State had to be careful not to stoke any of these factors.  There were instances, such as in the last election, where the whole nation came together and showed that the multicultural society could work. 

    Questions by Committee Expert

     

    CHRISPINE GWALAWALA SIBANDE, Committee Expert and Country Co-Rapporteur, asked what steps Mauritius had taken to ratify the International Convention on the Protection of the Rights of All Migrant Workers and Members of their Families? 

    The Committee would still like an update regarding disaggregated data by ethnicity?  What were the unique challenges that people of African descent faced in Mauritius?  Would the delegation update the Committee on steps being taken to ratify and accept the individual communication article under the Convention?  According to the State report, there were currently three distinct cases against the State in court by lesbian, gay, bisexual, transgender and intersex persons.  Could an update on the human rights issues being raised in these three cases be provided?

    Mauritius had not signed the 1951 Convention relating to the status of refugees and its 1967 Protocol Convention.  Would the delegation update the Committee on the plans being developed to have a legislative and policy framework in place to ensure refugees were well protected under the law?  What were the plans to ratify the 1951 Convention relating to the status of refugees and its 1967 Protocol Convention?  What measures was Mauritius taking to address matters of statelessness and compile data on stateless persons?  Could the delegation update the Committee on birth registration and citizenship laws available?

    What were the legislative, policy and effective action points being taken to make sure that all ethnic groups were treated equally in Mauritius?  How was the Government handling the allegations that certain ethnic groups were getting preferential treatment? 

    What legislative, policy and enforcement action points had been put in place to address discrimination on issues of wages affecting Creoles and Muslims of Indian origin communities?  Would the delegation update the Committee on measures being taken to address underpayment for overtime in the textile and apparel industries, including issues on differences in legislation and calculation of overtime hours?  What were the legislative and policy reform steps being taken to address matters concerning the informal sector that accounted for 10 per cent of all workers? 

    The garment sector of Mauritius was a significant destination for migrant workers from Bangladesh.  Some reports found that Bangladesh nationals incurred significant debt to pay recruitment fees; were unable to review their contracts prior to signing or departing for Mauritius; and had a limited understanding of their salaries, among other issues.  Had Mauritius reviewed the recruitment procedures of foreigners and migrant workers, especially the recruitments that involved agents?  What measures had the Republic of Mauritius taken to address the concerns of persons belonging to certain nationalities, including Bangladesh citizens? 

    What measures had the State taken to minimise these challenges and make sure that all international labour instruments by the International Labour Organization on the treatment of migrant workers were compiled and enforced? When would Mauritius sign and ratify several International Labour Organization Conventions? 

    Responses by the Delegation

    GAVIN PATRICK CYRIL GLOVER S.C, Attorney General of Mauritius and head of the delegation, said the three cases referred to were determined by the Supreme Court in 2023.  The Supreme Court decided that criminalising consensual same-sex relations between males was unconstitutional. 

    It was estimated that around one third of Mauritians descended from slaves.  Mauritius would update its citizenship laws regarding refugees and asylum seekers. The current laws did not address statelessness and this would be addressed.

    Migrant workers should typically enjoy the same benefits and laws as any Mauritians.  However, there were cases where migrant workers had been lured to come to Mauritius and became enslaved by certain employers.  The Government was taking a strong stand on this issue and had recently publicised a well-published case in this regard, where they worked to bring the perpetrators who had abused the migrant workers to justice. Large companies with clientele in Europe and America were strict in their adherence to the law, and dealt with all processes relating to migrant workers correctly.  Mauritius was firmly committed to enforcing its immigration laws while ensuring the rights of migrant workers were upheld.  In cases where unscrupulous employers had not declared workers or where they did not renew their visas on time, these migrant workers were considered to be victims. 

    Questions by Committee Expert

    CHRISPINE GWALAWALA SIBANDE, Committee Expert and Country Co-Rapporteur, asked for more data on domestic workers?  Mauritius still applied HIV related restrictions on the entry, stay and residence of non-nationals, with migrant workers being required to provide evidence of their negative HIV status to qualify for work and residence permits.  Would the delegation clarify reports that Mauritius required HIV testing for any residency permit longer than 90 days, and applicants were denied on the basis of HIV status?  What had the Government done to make sure it did not violate the rights of people, especially migrants, on the basis of HIV status?  What were the plans to reform the HIV/AIDS and immigration laws in Mauritius? 

    The Government of Mauritius had demonstrated overall increasing efforts compared with the previous years on issues of combatting human trafficking and had therefore been upgraded to tier 2.  However, the Government did not meet the minimum standards to combat human trafficking in some key areas, including not convicting any traffickers in court for the second consecutive year in a row.  Would the delegation update the Committee on the data available on cases prosecuted?  What concrete measures was Mauritius taking to combat human trafficking, including perpetrators of human trafficking prosecuted under the combatting of trafficking in persons act?  What had the Government of Mauritius done to make sure that the courts dealt with the backlog of cases?  What programmes were being initiated and rolled out, whether through legislation, policy or action points, to make sure citizens were encouraged to report cases of human trafficking and sex trafficking? 

    A Committee Expert asked why the Human Rights Commission was not present before the Committee and if it was influenced by the Prime Minister’s office? 

    Responses by the Delegation

    GAVIN PATRICK CYRIL GLOVER S.C, Attorney General of Mauritius and head of the delegation, said from June 2021 to March 2025, there were 41 cases of trafficking reported, and six were prosecuted.  The backlog of cases was a systemic problem in the criminal justice system.  A police and criminal justice bill was being prepared to set up the parameters in which the judicial processes would be carried out, to ensure diligent hearings and adjudication of various cases. 

    All migrant workers had to comply with the law and present a HIV negative test result before being granted access to the country. If a test was positive, they were not allowed to work and had to leave the country.  For those who contracted the disease in the country, they received the same treatment as nationals, regardless of their origin.  There were currently 60 foreign workers receiving treatment for HIV/AIDS.  Article 5 of the immigration act was a precautionary measure and was a new provision on the application for working in Mauritius.  There was no discrimination when this test was applied; it was applied across the board, wherever you came from.  It was implemented as a public health policy by the Government, due to Mauritius’ small size.  Unfortunately for the time being, this would stay in place. 

    There were no restrictions on civil society to protest, provided they stayed within the parameters of the law.  The State had just received the report of the Human Rights Commission for 2024, and this would be shared with the Committee. 

    Questions by Committee Expert

    CHRISPINE GWALAWALA SIBANDE, Committee Expert and Country Co-Rapporteur, asked what was being done to ensure that civil society participated in the review of Mauritius? 

    Another Expert said the mandatory HIV test was not compliant with the Convention.  It was ineffective as a public health policy and cast a negative stigma on migrant workers. 

    PELA BOKER WILSON, Committee Expert and Country Rapporteur, asked how the different ethnic groups in Mauritius enjoyed their rights under the Convention?

    Another Committee Expert said it was understood that civil society had not suffered intimidation, but was it consulted prior to the dialogue?  Why did the Human Rights Commission not report directly to parliament or the public? 

    Responses by the Delegation

    GAVIN PATRICK CYRIL GLOVER S.C, Attorney General of Mauritius and head of the delegation, said he took on board the views that the mandatory HIV law was ineffective and discriminatory and would act as an advocate in this regard.  All domestic workers had to obtain a resident and work permit to work in Mauritius. 

    The Chairperson of the National Human Rights Commission was appointed on the recommendation of the Prime Minister, and could be seen to not be totally independent.  The Commission had carried out its work well, and a new Chairperson would be appointed in the coming days.  It was expected that the Constitutional Review Commission would now have a say in the processes of the appointments of these kinds of positions. 

    Questions by a Committee Expert

    PELA BOKER WILSON, Committee Expert and Country Rapporteur, said during the previous dialogue, the Committee urged the State party to adopt and implement a well-resourced strategy to address the deep-rooted discrimination faced by the Creoles, including those living on Agaléga and Rodrigues Islands.  What steps had been undertaken to implement this strategy?  What measures were in place to ensure ethnic minorities had equal enjoyment of economic, social and cultural rights?  Had measures relating to adequate housing, health-care service and quality inclusive education been designed in close collaboration with the communities concerned and relevant civil society organizations?  What measures had the State party undertaken to ensure effective participation and representation of ethnic minorities in public and political life?  What measures were envisaged to grant national language status to Creole?

    Could information be provided on the impact of climate change, tourism and development projects on marginalised communities, particularly ethnic minorities?  What was the State party’s national plan on business and human rights? The Committee would appreciate updated information from the State party regarding the assessment of current measures, including the Best Loser System, and the process of electoral reform? What steps had the State party taken to ensure the rights of the Chagossian people in negotiations with the United Kingdom’s Government? 

    Responses by the Delegation

    GAVIN PATRICK CYRIL GLOVER S.C, Attorney General of Mauritius and head of the delegation, said the Government was adamant that all races, communities and religious groups were treated on an equal footing and guaranteed full enjoyment of economic, social and cultural rights. The first of February was a holiday in Mauritius, marking the abolition of slavery in the country.  Pieces of legislation had been passed to ensure the Creoles were not left behind, as well as the Chagossians.  Since 1999, the Chagossian welfare fund act was established. Dedicated educational support, including scholarships, and healthcare programmes were also provided, and the State conducted regular visits to the communities.  The Government remained firmly committed to the resettlement of the Chagossians in the Chagos Archipelago and ensuring the full human rights of this group. 

    The Best Loser System was implemented to ensure that underrepresented communities received representation.  The State recognised it was not the best system and was outdated; two levels of amendments would be introduced in this regard. The Judicial and Legal Commission had been established for the appointment of judicial officers, and consisted of the Chief Justice and the President of the Public Service Commission. This Commission had the exclusivity of appointing all judicial and legal officers. 

    In the National Assembly, people addressed the chamber in English and French.  Members were also able to address a few lines in Creole when appropriate.  Recently, one member wanted to make a whole address in Creole and she was ruled out by the speaker.  Following this, the speaker raised the issue of introducing Creole in the Assembly, which they expected would be supported by most members. 

    A student behaviour policy was introduced in schools to reinforce tolerance and diversity in schools.  There had been a decline in bullying cases, and an anti-bullying policy was being drafted within the Ministry of Education.   

    Questions by Committee Experts

    PELA BOKER WILSON, Committee Expert and Country Rapporteur, asked if strategies concerning Creoles were developed with their participation?  Were the welfare programmes based in law or were they policies which could change depending on the Government?  What kind of scholarships were provided?  Who were the target beneficiaries? 

    A Committee Expert said welfare systems did not reconcile with the past.  Had there been restitutions for the Chagossian people who had been disadvantaged? 

    Another Expert asked if all groups embraced the celebrations of the first of February?  Could more information be provided on the Creole group of Mauritius? 

    Responses by the Delegation

    GAVIN PATRICK CYRIL GLOVER S.C, Attorney General of Mauritius and head of the delegation, said there were national celebrations on the first of February, but ethnic lines were well demarcated when it came to attendees.  Creole referred to a certain category of people with a mixed descent.  A programme entitled “bridge to the future” had been produced, which was an overhaul of the election and judicial system in the country, concentrated in the hands of the Constitutional Reform Commission which would likely begin its work next month. 

    The previous Government had opened negotiations with Great Britain to find a solution for the Chagos Archipelago.  The United Kingdom recognised Mauritius’ sovereignty over the territory and negotiations were currently underway. The Best Loser System was outdated and was based on the census of 1972 with no relevance today.  The changes made would be implemented within the Constitution and removed the need to declare a candidate’s race or community when standing for parliament. 

    Questions by Committee Experts

    A Committee Expert said the Chagossian people had suffered a harm that had been significant.  They were due reparations and restitutions and they needed to be involved in these negotiations.  Those who were descendants of a system of enslavement enforced on people in Mauritius were victims of a harm which needed to be repaired.  It was important to look at best practice examples from other countries.

    Another Expert asked how the First Decade of People of African Descent was marked and what programmes were undertaken?  Had Mauritius started to think about the Second Decade?  Would the State think about establishing more sites of memory for people of chattel enslavement in the Second Decade? 

    FAITH DIKELEDI PANSY TLAKULA, Committee Expert and Follow-up Rapporteur, said the Committee had made a mistake in the follow-up paragraphs for the last dialogue and appreciated that Mauritius had accommodated their mistake.  It was appreciated that the national mechanism for reporting and follow-up had been established.  It was noted that information had been provided on the roadmap for teaching Creole and on the use of Creole in parliament.  Could an update on the use of Creole in the administration and in the judiciary be provided?  Had the State considered developing a roadmap for the Chagossian people? 

    An Expert said Great Britain was being allowed to continue to dominate Mauritius, and still had sway over the country and its people.   Mauritius had suffered too much to return to the past.  It was hoped Mauritius could come together as one country. 

    Responses by the Delegation

    GAVIN PATRICK CYRIL GLOVER S.C, Attorney General of Mauritius and head of the delegation, said Mauritius did not focus on division, but rather on unity.  Recently there had been no complaints registered for acts of racial discrimination and racist hate speech.  There had been a case of stirring racial hatred where the perpetrator was sentenced to two years in prison in 2022. 

    The political agreement reached in October for the Chagossian people did not set out the various elements of the treaty. Mauritius was trying to move away from the divisions imposed by colonial masters.  All communities were aware that whichever Government was in power ensured the equality of all segments of the population.  Mauritius had no definite plans yet for the Second Decade of People of African Descent. 

    While English was the primary language in courts, French and Creole were also accepted.  Around 90 per cent of people in Mauritius understood the Creole language and it was used in the courts.  Government documents were in English.  There was a dedicated channel for Parliament and Mauritius was looking into setting up a second channel which carried a simultaneous translation of proceedings in Parliament into Creole. 

    Mauritius was in the process of finalising with Great Britain the return of the Chagos Archipelago.  The United Kingdom had to have the support of the United States before coming to terms with Mauritius.  It was expected that the terms would result in a positive outcome. 

    Questions by Committee Experts

    CHRISPINE GWALAWALA SIBANDE, Committee Expert and Country Co-Rapporteur, said the Committee discussed the topic of different ethnic groups in Mauritius, solely to ensure that some were not receiving preferential treatment.  Could data be provided on migrant workers and how they were being taken care of?  What measures had Mauritius taken in terms of training, education, culture, information and awareness about the Convention, the human rights provisions in the Constitution of Mauritius, and other laws in Mauritius?  Were issues of human rights covered in the curriculum at primary, secondary and tertiary level?  How was Mauritius combatting racial discrimination through school curricula, university programmes and teacher training? 

    Could more information be provided on judicial authorities, jurisprudence and judgments on matters of racial discrimination, including the principles of the Convention?  What human rights training was offered to law enforcement agencies? What measures would be taken to ensure that non-governmental organizations and the national human rights institution fully participated in human rights education and awareness? 

    Reports indicated that the Government had decreased funding for protection and assistance services to victims of human trafficking, including sex trafficking.  What measures had been taken to make sure there was adequate funding to combat trafficking, including providing protection and assistance services to victims?  What programmes had the State rolled out for providing education to combat human trafficking?  There had been difficulties reported in accessing healthcare for irregular migrants, stateless persons and asylum seekers, who might not have access to the National Health Insurance Card.  What programmes had been implemented to provide human rights awareness on matters of healthcare?

    Responses by the Delegation

    GAVIN PATRICK CYRIL GLOVER S.C, Attorney General of Mauritius and head of the delegation, said reports relating to discrimination of migrant workers regarding healthcare were unfounded as everyone in Mauritius was afforded free public healthcare, whether they were a migrant or not. Mauritius had not hidden from the prejudices within its society.  Human rights principles were embedded in formal school curricula.  In 2024, the National Human Rights Commission conducted public campaigns reaching over 100,000 individuals, including parents, students and teachers, and had also produced materials, including the translation of the Universal Declaration of Human Rights into Creole. Non-governmental organizations had provided input into important State documents, including the national human rights plan, as well as in preparation for the Universal Periodic Review. 

    Questions by Committee Experts

    CHRISPINE GWALAWALA SIBANDE, Committee Expert and Country Co-Rapporteur, said the law in Mauritius prevented internet users from posting anything that could cause “annoyance, humiliation, inconvenience, distress or anxiety to any person” on social media.  Anyone found guilty faced up to 10 years’ imprisonment. There were reports that police arrested two people on allegations of drug trafficking because they made critical comments against the Government or police.  What was the outcome of these cases?  What measures was the State taking to ensure citizens were not punished merely for criticising the State through expressing freedom opinion?  Had the cases of three journalists from the Defi Media group who filed complaints of harassment been addressed?  How was it ensured that journalists could operate freely in Mauritius?  It was reported that many buildings in Mauritius remained inaccessible to persons with disabilities; what was the Government doing to overcome this? 

    A Committee Expert applauded the efforts of the State party to create a harmonious society out of the calamity of colonialism. 

    Responses by the Delegation

    GAVIN PATRICK CYRIL GLOVER S.C, Attorney General of Mauritius and head of the delegation, said the two cases of those arrested in relation to drug charges were high profile cases in Mauritius and were ongoing.  The accused had been extremely critical of the previous regime.  There had been no prosecutions of alleged drug offences so far. The journalists arrested were also extremely critical of the previous regime, and due to the usual process adopted by that regime, they were attacked.  The inquiry had not yet been completed, and if there was enough evidence to convict the persons behind the cowardly attacks on these journalists, appropriate actions would be taken.

    Questions by a Committee Expert

    CHRISPINE GWALAWALA SIBANDE, Committee Expert and Country Co-Rapporteur, said French and English were considered de facto languages of Mauritius.  What measures was the Government taking to ensure all languages were recognised in Mauritius?  Was there recognition of the various groups, including Chagossians in the country? 

    Responses by the Delegation

    GAVIN PATRICK CYRIL GLOVER S.C, Attorney General of Mauritius and head of the delegation, said all courtrooms in Mauritius provided adequate access for persons with disabilities.  Irrespective of the descent of any Mauritian, more than 90 per cent of the population understood and spoke Creole.  The State had begun translating the Convention against Torture into Creole and would eventually work to translate all other Conventions into Creole. 

    Closing Remarks

    FAITH DIKELEDI PANSY TLAKULA, Committee Expert and Follow-up Rapporteur, said the Committee would send concluding observations which contained a follow-up for recommendations which needed to be implemented within one year. 

    PELA BOKER WILSON, Committee Expert and Country Rapporteur, extended sincere thanks and appreciation to the delegation for the interactive dialogue.  The Government of Mauritius should be commended on its reassessed approach to the review which contributed to the quality of the exchange.  The delegation had delivered on its pledge to ensure openness and accountability, and the State party’s commitment to continuity was appreciated. 

    CHRISPINE GWALAWALA SIBANDE, Committee Expert and Country Co-Rapporteur, thanked everyone who had been involved in the dialogue. 

    GAVIN PATRICK CYRIL GLOVER S.C, Attorney General of Mauritius and head of the delegation, extended thanks for the dialogue which had taken place.  Mauritius viewed this exchange as an opportunity to reflect openly and recommit the State to the principles of the Convention.  The contribution of Committee member Yeung Sik Yuen Yeung Kam John was very much appreciated.  Mauritius had celebrated the richness of its cultural heritage and honoured the memory of historical injustices.  The establishment of a Constitutional Review Commission marked an important step forward. History left long shadows, but Mauritius believed that progress was possible.  The State was committed to achieving unity, dignity and justice for all. 

    MICHAL BALCERZAK, Committee Chair, thanked all for the dialogue.  During these turbulent times, it was important to celebrate 60 years of the Convention, and the Committee looked to Mauritius to join them in these celebrations. It would be a good opportunity for Mauritius to consider accepting article 14 of the Convention on individual communications.   

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

    Follow UNIS Geneva on: Website | Facebook | Twitter | YouTube |Flickr

    MIL OSI United Nations News

  • MIL-OSI USA: NASA, International Astronauts to Connect with Students in Texas

    Source: NASA

    NASA astronaut Nichole Ayers and JAXA (Japan Aerospace Exploration Agency) astronaut Takuya Onishi will answer prerecorded questions about science, technology, engineering, and mathematics from students in Mansfield, Texas, while aboard the International Space Station.
    The 20-minute space-to-Earth call will take place at 10:40 a.m. EDT on Monday, May 5, and can be watched on the NASA STEM YouTube Channel.
    Media interested in covering the event must RSVP no later than 5 p.m., Friday, May 2 by contacting Laura Jobe at laurajobe@misdmail.org or 817-299-6300.
    The event, hosted by Mansfield Independent School District, also will have students present from Brenda Norwood Elementary, Alma Martinez Intermediate, Charlene McKinzey Middle, Jerry Knight and Frontier STEM Academies in Mansfield. This opportunity will allow the students to relate what they have learned about space travel to personal experiences.
    For more than 24 years, astronauts have continuously lived and worked aboard the space station, testing technologies, performing science, and developing skills needed to explore farther from Earth. Astronauts aboard the orbiting laboratory communicate with NASA’s Mission Control Center in Houston 24 hours a day through SCaN’s (Space Communications and Navigation) Near Space Network.
    Important research and technology investigations taking place aboard the space station benefit people on Earth and lays the groundwork for other agency missions. As part of NASA’s Artemis campaign, the agency will send astronauts to the Moon to prepare for future human exploration of Mars; inspiring Artemis Generation explorers and ensuring the United States continues to lead in space exploration and discovery.
    See videos of astronauts aboard the space station at:
    https://www.nasa.gov/stemonstation
    -end-
    Gerelle DodsonHeadquarters, Washington202-358-1600gerelle.q.dodson@nasa.gov
    Sandra JonesJohnson Space Center, Houston281-483-5111sandra.p.jones@nasa.gov

    MIL OSI USA News

  • MIL-OSI: Bitfarms Provides April 2025 Production and Operations Update

    Source: GlobeNewswire (MIL-OSI)

    – New private debt facility with a division of Macquarie Group for up to $300 million to fund initial HPC project development at Panther Creek, validating the attractiveness of Bitfarms’ potential HPC data center development pipeline-

    –Operational hashrate of 19.5 EHuM and fleet efficiency of 19 w/TH–

    This news release constitutes a “designated news release” for the purposes of the Company’s second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023.

    TORONTO, Ontario, May 01, 2025 (GLOBE NEWSWIRE) — Bitfarms Ltd. (NASDAQ/TSX: BITF), a global energy and compute infrastructure company, today issued its latest monthly production report. All financial references are in U.S. dollars.

    CEO Ben Gagnon stated, “In April, we secured an attractive financing facility for up to $300 million with a division of Macquarie Group, one of the world’s largest and most reputable infrastructure investors. These funds will be used solely to fund HPC data center development at our Panther Creek location. Panther Creek has the scale, location, power availability, and fiber connectivity that we expect will attract notable HPC counterparties. This site also has the quickest energization timeline of our three PA sites, and we are already working on the Site Map Plans, development timelines and renderings needed in order to begin to build out the powered land.

    “We are confident this partnership will not only accelerate our buildout at Panther Creek, but also open doors to future opportunities with Macquarie as we look to scale our project and potentially expand to other sites within our portfolio. Amidst the surging AI revolution and the growing demand for power and infrastructure, this financing arrives at a pivotal time. We believe the analyses provided by our strategic partners, ASG and WWT, along with Macquarie’s due diligence and industry expertise, validate our HPC opportunity thesis at Panther Creek, strengthen our HPC pipeline and strategy, and position Bitfarms as a market leader in sourcing and developing large-scale, high-quality HPC data center projects.

    “Our Bitcoin business is strong, and we remain bullish on mining economics with our newly upgraded mining fleet.  We have no need nor plans for a large miner purchase in 2025 or 2026, enabling us to focus our efforts on developing U.S. energy and HPC infrastructure, which we believe will create lasting shareholder value.”

    April 2025 Select Operating Highlights

    Key Performance Indicators April 2025 March 2025
    (proforma)
    Total BTC earned 268 280
    Month End Operating EHuM 19.5 19.5
    BTC/Avg. EH/s 16 17
    Average Operating EHuM 17.2 16.4
    Energized Capacity (MW) 461 461
    Watts/Terahash Efficiency (w/TH) 19 19
    • 19.5 EHuM operational at April 30, 2025.
    • 17.2 EHuM average operational, up 5% M/M.
    • 16 BTC/average EHuM, 6% lower M/M.
    • 268 BTC earned, 4% lower M/M.
    • 8.9 BTC earned daily on average, equal to ~$837,000 per day based on a BTC price of $94,000 at April 30, 2025.

    April 2025 Financial Update

    • Treasury of 1,005 BTC, down from 1,140 BTC last month and representing $94 million based on the Bitcoin price of $94,000 at April 30, 2025.

    About Bitfarms Ltd.
    Founded in 2017, Bitfarms is a global energy and compute infrastructure company that develops, owns, and operates vertically integrated HPC and Bitcoin mining data centers. Bitfarms currently has 15 operating Bitcoin data centers situated in four countries: the United States, Canada, Argentina and Paraguay.

    Powered primarily by environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure.

    To learn more about Bitfarms’ events, developments, and online communities:

    www.bitfarms.com
    https://www.facebook.com/bitfarms/
    https://x.com/Bitfarms_io
    https://www.instagram.com/bitfarms/
    https://www.linkedin.com/company/bitfarms/

    Glossary of Terms

    • Y/Y or M/M= year over year or month over month
    • BTC or BTC/day = Bitcoin or Bitcoin per day
    • EH or EH/s = Exahash or exahash per second
    • EHuM = Exahash Under Management, which includes Bitfarms’ proprietary hashrate and hashrate being hosted by Bitfarms for third-party hosting clients
    • MW or MWh = Megawatts or megawatt hour
    • GW or GWh= Gigawatts or gigawatt hour
    • w/TH = Watts/Terahash efficiency (includes cost of powering supplementary equipment)
    • HPC/AI = High Performance Computing / Artificial Intelligence
    • Energized capacity= Power available

    Forward-Looking Statements

    This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. The statements and information in this release regarding the North American energy and compute infrastructure strategy, opportunities relating to the potential of the Company’s data centers for HPC/AI opportunities, the potential to deploy the proceeds of the Macquarie Group financing facility at the Panther Creek location, the merits and ability to secure long-term contracts associated with HPC/AI customers, the success of the Company’s HPC/AI strategy in general and its ability to capitalize on growing demand for AI computing while securing predictable cash flows and revenue diversification, the Company’s energy pipeline and its anticipated megawatt growth, the Company’s ability to drive greater shareholder value, projected growth, target hashrate, and other statements regarding future growth, plans and objectives of the Company are forward-looking information.

    Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “prospects”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

    This forward-looking information is based on assumptions and estimates of management of Bitfarms at the time they were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Bitfarms to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors, risks and uncertainties include, among others: an inability to apply the Company’s data centers to HPC/AI opportunities on a profitable basis; a failure to secure long-term contracts associated with HPC/AI customers on terms which are economic or at all; the construction and operation of new facilities may not occur as currently planned, or at all; expansion of existing facilities may not materialize as currently anticipated, or at all; an inability to satisfy the Panther Creek location related milestones which are conditions to loan drawdowns under the Macquarie Group financing facility; an inability to deploy the proceeds of the Macquarie Group financing facility to generate positive returns at the Panther Creek location; new miners may not perform up to expectations; revenue may not increase as currently anticipated, or at all; the ongoing ability to successfully mine digital currency is not assured; failure of the equipment upgrades to be installed and operated as planned; the availability of additional power may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the power purchase agreements and economics thereof may not be as advantageous as expected; potential environmental cost and regulatory penalties due to the operation of the former Stronghold plants which entail environmental risk and certain additional risk factors particular to the former business and operations of Stronghold including, land reclamation requirements may be burdensome and expensive, changes in tax credits related to coal refuse power generation could have a material adverse effect on the business, financial condition, results of operations and future development efforts, competition in power markets may have a material adverse effect on the results of operations, cash flows and the market value of the assets, the business is subject to substantial energy regulation and may be adversely affected by legislative or regulatory changes, as well as liability under, or any future inability to comply with, existing or future energy regulations or requirements, the operations are subject to a number of risks arising out of the threat of climate change, and environmental laws, energy transitions policies and initiatives and regulations relating to emissions and coal residue management, which could result in increased operating and capital costs and reduce the extent of business activities, operation of power generation facilities involves significant risks and hazards customary to the power industry that could have a material adverse effect on our revenues and results of operations, and there may not have adequate insurance to cover these risks and hazards, employees, contractors, customers and the general public may be exposed to a risk of injury due to the nature of the operations, limited experience with carbon capture programs and initiatives and dependence on third-parties, including consultants, contractors and suppliers to develop and advance carbon capture programs and initiatives, and failure to properly manage these relationships, or the failure of these consultants, contractors and suppliers to perform as expected, could have a material adverse effect on the business, prospects or operations; the digital currency market; the ability to successfully mine digital currency; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power to operate cryptocurrency mining assets; the risks of an increase in electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which Bitfarms operates and the potential adverse impact on profitability; future capital needs and the ability to complete current and future financings, including Bitfarms’ ability to utilize an at-the-market offering program ( “ATM Program”) and the prices at which securities may be sold in such ATM Program, as well as capital market conditions in general; share dilution resulting from an ATM Program and from other equity issuances; the risks of debt leverage and the ability to service and eventually repay the Macquarie Group financing facility; volatile securities markets impacting security pricing unrelated to operating performance; the risk that a material weakness in internal control over financial reporting could result in a misstatement of financial position that may lead to a material misstatement of the annual or interim consolidated financial statements if not prevented or detected on a timely basis; risks related to the Company ceasing to qualify as an “emerging growth company”; risks related to unsolicited investor interest, takeover proposals, shareholder activism or proxy contests relating to the election of directors; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; and the adoption or expansion of any regulation or law that will prevent Bitfarms from operating its business, or make it more costly to do so. For further information concerning these and other risks and uncertainties, refer to Bitfarms’ filings on www.sedarplus.ca (which are also available on the website of the U.S. Securities and Exchange Commission (the “SEC”) at www.sec.gov), including the management’s discussion & analysis for the year-ended December 31, 2024 Although Bitfarms has attempted to identify important factors that could cause actual results to differ materially from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended, including factors that are currently unknown to or deemed immaterial by Bitfarms. There can be no assurance that such statements will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking information. Bitfarms does not undertake any obligation to revise or update any forward-looking information other than as required by law. Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the Toronto Stock Exchange, Nasdaq, or any other securities exchange or regulatory authority accepts responsibility for the adequacy or accuracy of this release.

    Investor Relations Contact:

    Bitfarms
    Tracy Krumme
    SVP, Head of IR & Corp. Comms.
    +1 786-671-5638
    tkrumme@bitfarms.com

    Media Contact: 

    Bitfarms
    Caroline Brady Baker 
    Director, Communications   
    cbaker@bitfarms.com 

    The MIL Network

  • MIL-OSI: 21Shares and Sui Join Forces to Expand Global Access to Sui Network

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 01, 2025 (GLOBE NEWSWIRE) — 21Shares, one of the world’s leading cryptocurrency exchange traded product providers, has entered a strategic partnership with Sui, the Layer-1 network, to expand global reach as interest in the ecosystem continues to grow.

    “Since our earliest research into Sui, we believed it could become one of the most exciting blockchains in the industry, and we’re seeing that thesis play out,” said Duncan Moir, President of 21Shares. “We operate based on conviction but also investor demand, and our planned roadmap with Sui is a reflection of both.”

    This partnership, which will produce product collaborations, research reports, and other initiatives, highlights the growth of institutional interest in the Sui ecosystem. With impressive speed, throughput, and scalability, Sui has become a destination for real-world asset tokenization, including stablecoins and DeFi.

    Global experience, U.S. expansion

    Headquartered in Zurich, Switzerland, 21Shares has spent years building out a robust suite of digital asset services in Europe and is now increasingly focused on the U.S. market.

    “Partnering with Sui speaks to where we see the future of blockchain infrastructure heading,” said Federico Brokate, Head of U.S. Business at 21Shares. “We believe Sui has the technical underpinnings, DeFi and developer ecosystems, and institutional alignment to play a central role in crypto for a long time.”

    Scalable blockchain infrastructure designed for consumers & institutions alike

    Sui is a high-performance, secure Layer-1 blockchain developed by former Meta engineers, designed for mass adoption through its object-centric architecture. Its ability to execute transactions in parallel with sub-second finality delivers unmatched speed and scalability, while maintaining a developer-friendly and intuitive user experience. Sui’s infrastructure powers consumer-facing products like the recently launched SuiPlay0X1 gaming console, and simplifies onboarding through features like zkLogin, which enable gasless transactions to entice mainstream users. Sui also supports institutional-grade applications, including Ondo’s tokenized treasuries and ATHEX’s on-chain fundraising platform for Greece’s stock exchange. By bridging Web2-like familiarity with Web3 functionality, Sui is built to serve both everyday users and enterprises alike.

    “Sui was designed to become the global coordination layer for digital assets,” said Kevin Boon, President at Mysten Labs, the original contributor to Sui. “21Shares sees value in that work and is committed to making the ecosystem more accessible throughout the world.”

    About 21Shares

    21Shares is one of the world’s leading cryptocurrency exchange traded product providers and offers the largest suite of crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21Shares listed the world’s first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto exchange-traded funds that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialized research team, proprietary technology, and deep capital markets expertise, 21Shares delivers innovative, simple and cost-efficient investment solutions.

    21Shares is a member of 21.co, a global leader in decentralized finance. For more information, please visit www.21Shares.com

    Media Contact
    Matteo Valli
    matteo.valli@21shares.com

    Alethea Jadick
    ajadick@sloanepr.com

    About Sui

    Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the ground up to make digital asset ownership fast, private, secure, and accessible to everyone. Its object-centric model, based on the Move programming language, enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications with unrivaled speed at low cost. Sui is a step-function advancement in blockchain and a platform on which creators and developers can build amazing user-friendly experiences. For more information about Sui, please visit https://sui.io

    Contact: media@sui.io

    Important Information

    The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities or financial instruments in any jurisdiction, including the United States. Some of the information published herein may contain forward-looking statements and readers are cautioned that any such forward-looking statements are not guarantees of future performance, involve risks and uncertainties, and actual results may differ. Additionally, there is no guarantee as to the accuracy, completeness, timeliness, or availability of the information provided and 21.co and its affiliated entities are not responsible for any errors or omissions. The information contained herein may not be considered as economic, legal, tax, or other advice and viewers are cautioned not to base investment or any other decisions on the content hereof.

    The MIL Network

  • MIL-OSI: 21Shares Files Form S-1 for SUI ETF in the U.S.

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 01, 2025 (GLOBE NEWSWIRE) — 21Shares has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (“SEC”) for a SUI exchange traded fund (“ETF”).

    The launch of the 21Shares SUI ETF is pending effectiveness of the Form S-1 as well as approval of a Form 19b-4 filing by the SEC.

    21Shares SUI ETF seeks to track the performance of Sui, as measured by the performance of the CF Sui-Dollar Reference Rate Index.

    Notes to editors

    About 21Shares

    21Shares AG, an affiliate of 21Shares US LLC, the sponsor to the 21Shares SUI ETF, is one of the world’s leading cryptocurrency exchange traded product providers and offers the largest suite of crypto ETPs in the market. We were founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. In 2018, 21Shares listed the world’s first physically-backed crypto ETP, and we have a seven-year track record of creating crypto exchange-traded funds that are listed on some of the biggest, most liquid securities exchanges globally. In addition to our long-standing track record, 21Shares offers investors research and client service.
    21Shares is a member of 21.co, a global leader in decentralized finance. For more information, please visit www.21Shares.com.

    Media Contact
    Matteo Valli
    matteo.valli@21shares.com

    Alethea Jadick
    ajadick@sloanepr.com

    Important Information

    The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities or financial instruments in any jurisdiction, including the United States. Some of the information published herein may contain forward-looking statements and readers are cautioned that any such forward-looking statements are not guarantees of future performance, involve risks and uncertainties, and actual results may differ. Additionally, there is no guarantee as to the accuracy, completeness, timeliness, or availability of the information provided and 21.co and its affiliated entities are not responsible for any errors or omissions. The information contained herein may not be considered as economic, legal, tax, or other advice and viewers are cautioned not to base investment or any other decisions on the content hereof.

    A registration statement relating to the securities of the SUI ETF has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

    The MIL Network

  • MIL-OSI Economics: WTO accession: Supporting the economic reforms of Ethiopia and Uzbekistan

    Source: WTO

    Headline: WTO accession: Supporting the economic reforms of Ethiopia and Uzbekistan

    Excellencies,ladies, and gentlemen,
    I am delighted to participate in this meeting in support of the accessions of Ethiopia and Uzbekistan to the WTO. I am also very pleased to be joined by the Chief Negotiators and representatives of Ethiopia and Uzbekistan as well as our development partners. I would in particular like to thank the Vice-President for Europe and Central Asia, Ms Antonella Bassani and the Acting Vice-President for East Africa Mr Amit Dar from the World Bank and the Deputy Director, Strategy and Policy Review Mr Ken Kang, from the IMF for their presence today.
    Ethiopia and Uzbekistan have been negotiating their accessions for several years and have made good progress towards their goal to join the WTO by 2026. There are a number of similarities between the two economies. Both are the most populous nations in their respective regions, notably with a significant young population which will be entering the job market. Both have a legacy of strong State presence which they are gradually reducing through market-based economic and legislative reforms. They are also very ably led by excellent negotiating teams which have made it possible to move accession negotiations forward rapidly and I acknowledge with thanks the presence today of their Chief Negotiators.
    Completing the long and often complex road to WTO accession requires strong political will, a technically strong and coherent negotiating team led by a competent Chief Negotiator, and support from development partners, both bilateral and multilateral. In the case of Ethiopia and Uzbekistan, I believe we have all these ingredients.
    Strong political will is key to any reform process. Ethiopia’s economic reforms have been pursued since 2018 under Prime Minister Abiy Ahmed Ali’s leadership, through the “Home-Grown Economic Reform Programme” which aims at structural transformation and private sector led growth. The bold steps taken in recent years including foreign exchange reforms, liberalization of key services, and reduced restrictions on foreign direct investment, have served Ethiopia well, resulting in strong economic growth, averaging over 6% annually since 2022. The reforms have also created an enabling environment for Ethiopia to benefit from its membership of the AfCFTA (which it ratified in 2019) once it starts to trade under its provisions. WTO Membership will further lock in these reforms and moreover provide a support structure to sustain economic reforms and growth. Ethiopia’s Government has indicated its strong commitment to finalizing accession by the Ministerial Conference and I look forward to the completion of negotiations during the course of 2025.
    In Uzbekistan continued support by President Mirziyoyev has underpinned reform in recent years. This includes key Presidential Decrees in 2024 and 2025 addressing issues of concern to WTO Members on WTO consistency such as the reduction of State dominance in the economy through the removal of exclusive rights in several sectors, the import ban on ethyl alcohol and export subsidies. Most recently a Presidential Decree in March replaced export restrictions with export duties thereby making the export regime more predictable and transparent. Continuing legislative reform has aimed at bringing domestic legislation into line with the WTO Agreements. Uzbekistan is also well on the way to completing all its remaining ten bilateral market access negotiations in 2025.
    While reform is necessary and often difficult to ensure consistency with WTO rules, acceding governments also face daunting challenges in building institutional capacity and bringing their officials up to speed in areas such as trade remedies, technical regulations and SPS measures. I am grateful to our development partners, both Members and multilateral agencies for their consistent efforts to step up and provide their expertise when and where it is needed. Your assistance has been invaluable and will remain so to help both countries meet their accession and post-accession challenges.
    Excellencies, a few weeks ago the WTO celebrated its 30th anniversary with a gathering of eminent persons to reflect on our achievements and the way forward. The keynote speaker, the former Prime Minister of Portugal and EC President, José Manuel Barroso noted that although we are passing through a great deal of turbulence, the WTO is probably even more necessary today than it was when it was established in 1995. Indeed, the fact that large economies such as Ethiopia and Uzbekistan wish to join the WTO is a testament to the continued importance of the multilateral trading system and the stability and transparency it offers. Time is of the essence if we are to meet their accession goals. I very much hope that the efforts of Ethiopia and Uzbekistan to become Members becomes reality in the very near future.

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  • MIL-OSI Economics: DG joins high-level meeting to support the accessions of Ethiopia and Uzbekistan

    Source: WTO

    Headline: DG joins high-level meeting to support the accessions of Ethiopia and Uzbekistan

    The Director-General stressed that pursuing lasting economic reforms and accession to the WTO required strong political commitment. She highlighted Ethiopia’s economic reforms under Prime Minister Abiy Ahmed Ali’s “Home-Grown Economic Reform Programme” which aimed at structural transformation of the economy and private sector growth. She noted moreover that the reforms have also created an enabling environment for Ethiopia to benefit from its membership in the African Continental Free Trade Area (AfCFTA).
    Continued support by President Mirziyoyev of Uzbekistan had also underpinned Uzbekistan’s reform programme, DG Okonjo-Iweala said.  Key presidential decrees had aimed to reduce exclusive rights in several sectors and address other issues of concern to WTO members, while a Presidential Decree in March replaced export restrictions with export duties. This makes the export regime more predictable and transparent, the Director-General noted.
    She also took the opportunity to thank both WTO members and multilateral institutions such as the IMF and World Bank for their assistance in helping build institutional capacity and provide training to acceding governments. The fact that large economies like Ethiopia and Uzbekistan wish to join the WTO reaffirmed the continued importance of the organization and the stability and predictability provided by the multilateral trading system. The Director-General’s comments are available here.
    World Bank and IMF representatives lent their support to domestic reforms being undertaken by Ethiopia and Uzbekistan and looked forward to their accession to the WTO.
    Antonella Bassani, World Bank Vice President for Europe and Central Asia, noted that Uzbekistan had emerged as one of the top reformers worldwide, having completed over 200 domestic legal reforms since 2020. There was an expectation that Uzbekistan was in the final stretch of its WTO membership negotiations. Ms Bassani said WTO accession remained critical for emerging and developing economies and the World Bank was ready to support the process.
    Amit Dar, World Bank Acting Vice President for the Eastern and Southern Africa Region, highlighted the reforms undertaken by Ethiopia. He acknowledged that challenges remain, particularly in the areas of state-owned enterprises, competition, intellectual property rights, trade facilitation and subsidies. He emphasized that the World Bank remains fully committed to supporting Ethiopia through providing technical assistance and resources to help Ethiopia achieve its WTO membership goals and deepen its integration into world markets.
    Kenneth Kang, Deputy Director, Strategy, Policy and Review Department of the IMF, stressed the importance of structural reforms for generating a predictable and stable trade policy environment and the need for careful macroeconomic management and commended both countries on their progress. He noted that economic reforms during the accession process had a positive impact on economic growth. This has been demonstrated in a recent joint study by IMF and WTO staff that showed economies that made deeper commitments during their accession processes grew on average 1.5 percentage points faster than they otherwise would have done.
    Highlighting the economic and legislative reforms undertaken by their respective countries, representatives from Ethiopia and Uzbekistan reaffirmed their countries’ commitment to conclude accession negotiations by MC14, to be held in Cameroon in March 2026.
    Ethiopia’s State Minister for Finance Eyob Tekalgn said that WTO accession was important for further accelerating economic reforms. Ethiopia’s membership of the AfCFTA had also anchored its reform programme. He also pointed to the need for financial support to build capacity, notably for negotiations and implementation of reforms and to bring legislation into conformity with WTO rules. He added that Ethiopia was working actively to complete bilateral market access negotiations and hoped to conclude these shortly.
    Uzbekistan’s Chief Negotiator Azizbek Urunov noted key steps taken recently, including bringing its food and product safety rules in line with the WTO agreements. To date, nearly 120 legal acts had been harmonized with WTO agreements, he said, with various other draft laws expected to become law soon. Regarding privatization, Mr Urunov noted that Uzbekistan is on course to meet its goal of increasing the share of the private sector in the economy to 85 per cent by 2030.
    Both representatives indicated they were ready to take all the remaining necessary steps to complete their respective reform programmes and become WTO members.
    WTO accessions of Ethiopia and Uzbekistan
    Ethiopia held its 5th Working Party meeting on 19 March 2025. More information on Ethiopia’s accession is available here.
    Uzbekistan held its 9th Working Party meeting on 5 and 6 December 2024. More information on Uzbekistan’s accession is available here.

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  • MIL-OSI Economics: DDG Hill discusses WTO accessions at Horn of Africa Initiative ministerial meeting

    Source: WTO

    Headline: DDG Hill discusses WTO accessions at Horn of Africa Initiative ministerial meeting

    Four Horn of Africa countries – Ethiopia, Somalia, Sudan and South Sudan – are currently negotiating their accession to the WTO. This is half of the total number of African countries seeking to join the WTO and some of the most active in the WTO accession process, DDG Hill noted. Recent progress was made in particular with the accession of Ethiopia, with the 5th Working Party meeting held in March, and the accession of Somalia, with the first Working Party meeting taking place in February.
    DDG Hill pointed to Ethiopia’s “Homegrown Economic Reform Programme” launched in 2019, which demonstrates its strong commitment to economic transformation and to building an open and rules-based economy. She said: “WTO Director-General Ngozi Okonjo-Iweala has stressed that Ethiopia’s accession is a strategic priority for the WTO’s 14th Ministerial Conference, which will take place in Cameroon in March 2026. As the largest economy currently outside the WTO and one of the few remaining least-developed countries in the accession pipeline, Ethiopia’s membership would meaningfully advance the WTO’s goal of universality.”
    “Somalia has demonstrated strong political commitment and dedicated technical expertise in the process,” she added, noting the complementarity between WTO accession efforts and the country’s ongoing work to integrate into the East African Community.
    The meeting provided an opportunity to discuss an action plan aimed at boosting trade across the Horn of Africa, building on prior commitments and technical consultations. DDG Hill noted that this year’s focus on regional trade and trade facilitation issues is very timely. “Strengthening trade links can be a key piece in fostering regional integration and connectivity in the Horn of Africa”, she said.
    The 24th Horn of Africa Initiative was co-chaired by Ethiopia’s Finance Minister Ahmed Shide and the World Bank’s Acting Vice President for Eastern and Southern Africa Amit Dar. It brought together ministers of finance and high-level officials from the region. Ministers welcomed a new USD 10 billion contribution from development partners, including the African Development Bank, the European Union, Germany’s Federal Ministry for Economic Cooperation and Development, the United Kingdom and the World Bank.
    The meeting closed with Somalia’s Finance Minister, Bihi Iman Egeh, taking over as the new chair of the Initiative for the next two years.
    Horn of Africa Initiative
    Through the Horn of Africa Initiative, Djibouti, Eritrea, Ethiopia, Kenya, Somalia, South Sudan and Sudan are committed to coordinating approaches to exploring regional synergies and addressing regional challenges. They also prioritize regional programmes in infrastructure connectivity, economic integration, resilience building and skills development.
    WTO accessions in the Horn of Africa
    More information on Ethiopia’s accession is available here.
    More information on Somalia’s accession is available here.
    Sudan held its 5th Working Party meeting on 26 July 2021. More information on Sudan’s accession is available here.
    South Sudan held its first Working Party meeting on 21 March 2019. More information on South Sudan’s accession is available here.

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  • MIL-OSI Economics: Egypt launches safeguard investigation on hot rolled flat steel

    Source: World Trade Organization

    The notification indicated, among other things, as follows:

    “Interested parties must make themselves known to the investigating authority within 30 days from the date of publication of the notice of the initiation in the official gazette. Any submissions, comments or information must be properly documented.

    Correspondence should be addressed to:
    Ministry of Investment and Foreign Trade
    Trade Remedies Sector
    Attention: Mrs. Yomna Elshabrawy
    New Administrative Capital – governmental district
    Phone: +201008880030
    Email: [email protected]  “

    Further information is available in G/SG/N/6/EGY/16.

    What is a safeguard investigation?

    A safeguard investigation seeks to determine whether increased imports of a product are causing, or is threatening to cause, serious injury to a domestic industry.

    During a safeguard investigation, importers, exporters and other interested parties may present evidence and views and respond to the presentations of other parties.

    A WTO member may take a safeguard action (i.e. restrict imports of a product temporarily) only if the increased imports of the product are found to be causing, or threatening to cause, serious injury.

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  • MIL-OSI Economics: WTO, IFC launch joint publication on trade finance in Central America and Mexico

    Source: World Trade Organization

    The report finds that trade and supply chain finance (TSCF) supports 8 per cent of Mexico’s goods trade, 12 per cent of Guatemala’s, and 10 per cent of Honduras’s. In the case of Mexico, only about a quarter of merchandise importers and exporters have any access to financing. These are among the lowest access rates across surveyed economies, despite supply chain finance having made some inroads in Mexico’s economy and, to a lesser extent, in Guatemala and Honduras.

    The report underscores that there is significant potential to grow and diversify the currently concentrated market for TSCF. Model-based projections show that doubling TSCF coverage and aligning costs with advanced economy standards could raise exports and imports by up to 8.9 per cent in Honduras, 7.8 per cent in Guatemala and 7.4 per cent in Mexico – adding more than USD 90 billion in combined trade volume.

    In her opening remarks at the launch, DDG Hill underlined the importance of the WTO-IFC collaboration on trade finance given its key role in enabling trade. Citing the Asian Development Bank (ADB) estimation of a USD 2.5 trillion global trade finance gap in 2023, mainly in developing economies, she noted that “inadequate access to trade finance functions in effect as a prohibitive trade cost, holding back trade and closing off economic opportunities for firms and people.”

    This is particularly relevant in the case of micro, small and medium-sized enterprises and women-owned businesses that “find it particularly hard to access trade finance,” she added.

    This is the third and last edition of a short series of reports on trade finance in developing economies aimed at improving understanding of the trade finance ecosystem, the constraints to trade finance and gaps in provisions. The first report focused on West Africa (Côte d’Ivoire, Ghana, Nigeria, Senegal) in 2022 and the second on the Mekong region (Cambodia, Lao PDR and Viet Nam) in 2023-24.

    The joint WTO-IFC work on trade finance springs from a 2021 joint statement by the WTO Director-General Ngozi Okonjo-Iweala and IFC Managing Director Makhtar Diop, pledging to enhance cooperation to improve the analytics, identification, and detection of trade finance gaps in order to better direct capacity building and other resources to where unmet demand is greatest.

    DDG Hill stressed that in the countries and regions studied so far, only a limited share of trade is supported by trade and supply chain finance, whereas in advanced economies this share is at least 60 per cent. “In each of the regions we examined, trade finance was heavily concentrated. Too few banks directing too little finance towards a small group of well-established and large traders,” she said.

    Doubling the trade finance coverage of trade would increase trade flows by a significant amount and help diversify trade geographically. “More trade finance means not only more trade integration, but also more socioeconomic inclusion through trade,” she added.

    Looking ahead, DDG Hill emphasized that the WTO will continue its work – whether in the trade finance field, through its investment facilitation efforts or through the implementation of its Trade Facilitation Agreement – to reduce international trade costs. In many emerging economies, reducing the cost of shipping, financing and border clearance is key to being competitive internationally. “The adoption of digital technologies is paramount in this regard,” she noted.

    “We remain at our members’ disposal for promoting trade finance solutions and engaging in expert discussions, such as today’s, with support from multilateral development banks and development financial institutions,” DDG Hill said. She noted that “these efforts help address persistent gaps in trade finance access, especially for small and medium enterprises, and support broader goals of trade inclusion, economic diversification, and digital transformation.” Her full remarks (in Spanish) are here.

    Policy recommendations included in the report point at strengthening supply chain markets through regulatory harmonization, digital innovation, improved risk assessments and better access for small and women-owned firms. International organizations and development banks can also play a key role through capacity building, liquidity support and risk-sharing facilities.

    The launch was followed by a presentation of the report and a panel discussion bringing together representatives of the WTO, IFC, the International Chamber of Commerce (ICC), the Mexican government and the Instituto Tecnológico Autónomo de México (ITAM).

    The publication can be found here.

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  • MIL-OSI Economics: Thirty years of WTO accessions

    Source: World Trade Organization

    Since its establishment on 1 January 1995 to oversee the multilateral trade agreements negotiated by its 128 original members, the WTO has seen an ongoing expansion of its membership and continued interest from many economies seeking to join the organization. As a result, the percentage of world trade accounted for by WTO members has risen from 87 per cent in 1995 to over 98 per cent today.

    Over the past 30 years, 60 countries and customs territories have applied for accession to the WTO. Of these, 38 have completed the process, bringing the WTO’s total membership to 166. Meanwhile, 22 economies are currently at various stages of negotiating their accession.

    Although those seeking to join the WTO have followed similar paths of economic reform, WTO accession processes have varied significantly. Some completed the process relatively quickly – for example, after just three to four years of negotiations, the Kyrgyz Republic and Oman joined the WTO, in 1998 and in 2000, respectively. Others, such as Kazakhstan and Seychelles, spent nearly two decades in accession talks before becoming members, both in 2015. These longer timelines reflect the evolving nature of the accession process.

    Unlike accessions in the era of the General Agreement on Tariffs and Trade (GATT), WTO accessions require far-reaching structural reforms that go well beyond traditional trade-opening, often encompassing multiple sectors of the acceding economy. Moreover, the process demands a thorough understanding of the applicant’s economic systems, policy frameworks and reform priorities, which must be underpinned by broad-based domestic consensus.

    Why, then, do governments choose to undertake the rigorous demands of WTO accession? For many, the answer lies in a desire to modernize institutions and regulatory practices, enhance the business environment and attract foreign direct investment. These motivations often go hand-in-hand with broader national goals, including market-oriented reforms, poverty reduction and sustainable development.

    Market-opening and structural reforms, for instance, have been central to the evolution of many economies. Following the dissolution of the Soviet Union and Yugoslavia in 1991, international trade played a pivotal role in transforming the economies of the newly independent states and in strengthening their ties with the global economy. WTO membership served as a powerful vehicle for the modernization of these economies, as well as of other formerly centrally planned economies, such as China and Viet Nam.

    In addition, least-developed countries (LDCs), beginning with Cambodia and Nepal in 2004, and most recently Comoros and Timor-Leste in 2024 – making a total of 11 LDC accessions to date – have used the accession process to lay the foundations for poverty reduction and sustainable economic growth.

    In the cases of Cabo Verde, Samoa and Vanuatu, WTO membership was soon followed by graduation from LDC status (in 2008, 2014 and 2020, respectively). For others, including the Lao People’s Democratic Republic, Nepal and Cambodia, graduation is expected before the end of this decade.

    As many LDCs began their accession processes while classified as “fragile and conflict-affected states”, WTO membership has also played an important role in reshaping perceptions of their economic and development potential.

    Recently, WTO economists quantified the economic impact of undertaking the robust commitments required for WTO accession. Their analysis found that economies implementing reforms and making deeper commitments during accession negotiations grew an average of 1.5 percentage points faster than they otherwise would have done. A review of both completed and ongoing accessions underscores that the WTO accession process serves as a catalyst for domestic reform, helping to create an enabling environment for economic resilience and sustainable growth.

    In the same way that WTO accessions have anchored domestic transformations, accessions have also benefitted the global trading system. Through accessions, the percentage of world trade accounted for by WTO members has risen from 87 per cent in 1995 to over 98 per cent today.

    Despite the proliferation of free trade agreements and the sharp rise in tariff barriers, the vast majority of this trade – still more than 70 per cent – continues to be conducted under the WTO’s most-favoured-nation (MFN) principles. This has promoted the integration of global supply chains and, in so doing, has lowered trading costs for all WTO members.

    The scope of the WTO can also be measured in terms of population. At the time when the WTO was established, the original members represented just 69 per cent of the world’s population. Today, thanks to the accession of new members, that share has risen to 94 per cent. In other words, over the past 30 years, the WTO has extended its reach to an additional 2 billion people – further strengthening the inclusiveness and global relevance of the multilateral trading system.

    Beyond their individual reforms, economies that have joined the WTO since 1995 have made substantial systemic contributions to the WTO. Each accession prompts existing members to reflect on how best to uphold and advance the WTO’s core values. As a result, accessions have repeatedly helped to deepen, clarify and modernize existing disciplines.

    Collectively, acceded members have added more than 1,500 legally binding commitments to the WTO rulebook. These commitments – coupled with guarantees for deeper access to their domestic markets for goods and services – have made the WTO stronger, more dynamic and more responsive to evolving global trade realities.

    In key areas, such as domestic support in agriculture and the regulation of state-owned enterprises, members who have joined over the past 30 years have often taken on more comprehensive and detailed commitments, reflecting an evolution of obligations in relation to existing WTO norms. In several areas – notably trade facilitation, tariff rate quotas and export subsidies – accession negotiations have also achieved concrete results years before the emergence of multilateral trade disciplines, demonstrating the forward-looking nature of the accession process.

    In the area of transparency alone, acceded members have adopted over 250 specific commitments. Some of these members could even be considered to be “transparency champions”, given that they have submitted extensive notifications to the WTO about their trade measures – including in areas where original members have been less forthcoming, or where multilateral disciplines do not yet exist, such as the notification of privatization programmes.

    Today, 30 years after the establishment of the WTO, acceded members account for more than one-fifth of its total membership. Accessions are a force for change – driving re-examinations of the WTO rulebook, steering the trading system away from complacency, and challenging original members to match the benchmarks set by the newer members. This has been especially relevant in recent years, as the multilateral trading system has been facing mounting pressure.
    Acceding members offer a source of hope for the future of the trading system. Even amid global uncertainty and growing challenges, many of them have remained actively engaged, recognizing that no economy’s prosperity is secure in isolation, however large or small that economy might be.

    The admission of new members has been a true success story, but work on WTO accessions is far from complete. Twenty-two governments – a diverse group, whose future membership will further enrich the WTO – remain in the process of accession.

    As an institution, the WTO will try to support these governments by providing targeted technical assistance and capacity-building. As always, a key area of focus will be the accession of the remaining LDCs, all of which are also classified as fragile and conflict-affected states. Supporting these countries in their WTO accession processes, through dedicated programmes and tailored approaches, can serve as a catalyst for economic reform, institution-building and integration into the global trading system. Over time, this can also help to foster lasting stability and peace and to establish a gradual pathway out of fragility and toward greater resilience.

    Over the years, it has become increasingly clear that integration into the multilateral trading system does not end on the date of an economy’s accession. Indeed, the immediate post-accession period presents a distinct set of challenges – particularly for governments with limited institutional and administrative capacity.

    While the WTO recognizes the need for sustained support during this critical phase – when newly acceded members are often required to implement further domestic reforms to fulfil their WTO commitments – it has yet to develop robust institutional mechanisms to provide targeted support during this period. There is scope for improvement in this area, and especially in supporting the effective integration of recently acceded LDCs.

    Thirty years since the establishment of the WTO, accessions continue to renew and enrich the organization. As new members continue to bring fresh perspectives and commitment to the multilateral trading system, WTO accessions will remain a powerful force for reform, international cooperation and global economic integration.

    MIL OSI Economics

  • MIL-OSI Economics: Les pays francophones réfléchissent stratégiquement à leurs priorités commerciales

    Source: World Trade Organization

    Organisée conjointement par le Secrétariat de l’OMC et l’Organisation internationale de la francophonie (OIF) à la demande des pays francophones représentés, cette concertation intitulée « En route vers la 14ème Conférence Ministérielle de l’OMC » visait à faire émerger des idées pour que les pays de l’espace du système multilatéral francophone puissent maximiser leur participation à l’OMC et jouer un plus grand rôle dans le commerce mondial.

    Son Excellence le Ministre Mbarga Atangana a mis en exergue les nombreux défis auxquels l’espace francophone est confronté ces dernières années ; des crises sanitaires qui ont fragilisé les chaines d’approvisionnements aux crises sécuritaires, en passant par l’insécurité alimentaire et les tensions commerciales. Il a rappelé que le multilatéralisme commercial a eu dès sa naissance pour objectif de promouvoir le développement des Etats par le biais du commerce. La marge de manœuvre politique des gouvernements pour le développement de l’Afrique doit être en ce sens, déterminante, a-t-il souligné.

    Afin que la 14ème Conférence ministérielle de l’OMC puisse “servir de rampe de lancement pour un futur meilleur”, il a continué, il sera essentiel d’orienter les négociations vers l’agriculture, la sécurité alimentaire, la facilitation des investissements pour le développement, le commerce électronique, les subventions à la pêche, le rôle entre commerce et environnement, la réforme de l’Organisation et les questions de développement en général.

    Lors de la session de clôture, les participants ont souligné l’importance que revêt le commerce mondial pour leurs économies et l’urgence pour les pays de l’espace francophone d’accroître leur participation à celui-ci pour la croissance économique, l’emploi et pour l’amélioration de la prospérité et du bien-être des populations. Ils se sont engagés à utiliser l’opportunité qu’une Conférence ministérielle soit organisée en Afrique pour que le développement économique et commercial des économies de l’espace francophone soit mis au premier plan.

    Le Secrétariat de l’OMC a également présenté aux représentants des gouvernements participant les dernières “Perspectives et statistiques du commerce mondial” ainsi qu’un état des lieux des ratifications actuelles de l’Accord sur les subventions à la pêche.

    La liste des participants est disponible ici.

    Cette concertation s’inscrivait dans le cadre du renforcement de la coopération que l’OMC et l’OIF marqué en 2023 par la signature d’un nouveau Mémorandum d’entente. L’objectif est d’accroître la participation des pays francophones au système commercial mondial, plus particulièrement des économies en développement. Les axes de soutien visés concernent le renforcement des capacités commerciales, la promotion du commerce et les activités de développement dans les pays francophones, en particulier en Afrique et dans les pays les moins avancés. 

    MIL OSI Economics

  • MIL-OSI: Targa Resources Corp. Reports Record First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, May 01, 2025 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE: TRGP) (“TRGP,” the “Company” or “Targa”) today reported first quarter 2025 results.

    First quarter 2025 net income attributable to Targa Resources Corp. was $270.5 million compared to $275.2 million for the first quarter of 2024. The Company reported adjusted earnings before interest, income taxes, depreciation and amortization, and other non-cash items (“adjusted EBITDA”)(1) of $1,178.5 million for the first quarter of 2025 compared to $966.2 million for the first quarter of 2024.

    Highlights

    • Record first quarter 2025 adjusted EBITDA of $1.2 billion, a 22% increase year over year
    • Repurchased $214 million of common shares through April 2025
    • Declared an annual common dividend of $4.00 per share for 2025, a 33% increase year over year
    • Continue to estimate full year 2025 adjusted EBITDA between $4.65 billion and $4.85 billion
    • Continue to estimate 2025 net growth capital expenditures of $2.6 billion to $2.8 billion

    On April 10, 2025, the Company declared an increase to its quarterly cash dividend to $1.00 per common share, or $4.00 per common share on an annualized basis, for the first quarter of 2025. This dividend represents a 33 percent increase over the common dividend declared with respect to the first quarter of 2024. Total cash dividends of approximately $217 million will be paid on May 15, 2025 on all outstanding shares of common stock to holders of record as of the close of business on April 30, 2025.

    During the first quarter of 2025, Targa repurchased 651,163 shares of its common stock at a weighted average per share price of $191.86 for a total net cost of $124.9 million. As of March 31, 2025, there was $890.5 million remaining under the Company’s share repurchase program. Subsequent to quarter end, Targa repurchased 532,210 shares of its common stock at a weighted average per share price of $167.28 for a total net cost of $89.0 million.

    First Quarter 2025 – Sequential Quarter over Quarter Commentary

    Targa reported first quarter adjusted EBITDA of $1,178.5 million, representing a 5 percent increase compared to the fourth quarter of 2024. The sequential increase in adjusted EBITDA was attributable to contribution from the Badlands transaction and higher marketing margin. Volumes across Targa’s Gathering and Processing (“G&P”) and Logistics and Transportation (“L&T”) systems were negatively impacted by winter weather events which reduced system volumes during the first quarter. In the G&P segment, sequential adjusted operating margin was approximately flat as modestly lower Permian natural gas inlet volumes due to winter weather events were partially offset by higher fees. In the L&T segment, adjusted operating margin was also sequentially flat as higher marketing margin offset lower NGL pipeline transportation volumes, which were negatively impacted by winter weather events. Fractionation volumes were lower in the first quarter due to a major planned turnaround at Targa’s Cedar Bayou Fractionation facilities in Mont Belvieu, TX. Higher sequential marketing margin was attributable to increased optimization opportunities. Subsequent to quarter end, Targa’s Permian volumes and associated L&T system volumes have meaningfully increased from first quarter levels.

    Capitalization, Financing and Liquidity

    The Company’s total consolidated debt as of March 31, 2025 was $16,208.7 million, net of $106.7 million of debt issuance costs and $35.2 million of unamortized discount, with $14,534.4 million of outstanding senior unsecured notes, $920.0 million outstanding under the Commercial Paper Program, $600.0 million outstanding under the Securitization Facility, and $296.2 million of finance lease liabilities.

    In February 2025, Targa completed an underwritten public offering of 5.550% Notes due 2035 and 6.125% Notes due 2055, resulting in net proceeds of approximately $2.0 billion. Targa used the net proceeds from the issuance to fund the repurchase of all of the outstanding preferred equity in Targa Badlands LLC (the “Badlands Transaction”) and for general corporate purposes, including to repay borrowings under the Commercial Paper Program.

    Total consolidated liquidity as of March 31, 2025 was approximately $2.7 billion, including $2.6 billion available under the TRGP Revolver, and $151.4 million of cash.

    Growth Projects Update

    In Targa’s G&P segment, construction continues on its 275 MMcf/d Pembrook II, East Pembrook, and East Driver plants in Permian Midland and its 275 MMcf/d Bull Moose II and Falcon II plants in Permian Delaware. In Targa’s L&T segment, construction continues on its Delaware Express pipeline expansion, its 150 MBbl/d Train 11 and Train 12 fractionators in Mont Belvieu, and its GPMT LPG Export Expansion. The Company now expects its Pembrook II plant to begin operations in the third quarter of 2025 and remains on-track to complete its other announced expansions as previously disclosed.

    2025 Outlook

    Targa continues to estimate full year 2025 adjusted EBITDA to be between $4.65 billion and $4.85 billion supported by forecasted growth across its Permian G&P footprint, which is expected to drive record Permian, NGL pipeline transportation, fractionation, and LPG export volumes in 2025 relative to records set in 2024. While the growth is weighted to the second half of 2025, current and expected producer activity levels continue to support an outlook of meaningfully increasing volumes across the rest of 2025 and 2026.

    Targa’s estimate for 2025 net growth capital expenditures remains unchanged in a range of $2.6 billion to $2.8 billion, and its estimate for 2025 net maintenance capital expenditures also remains unchanged at approximately $250 million.

    Conference Call

    The Company will host a conference call for the investment community at 11:00 a.m. Eastern time (10:00 a.m. Central time) on May 1, 2025 to discuss its first quarter results. The conference call can be accessed via webcast under Events and Presentations in the Investors section of the Company’s website at www.targaresources.com/investors/events, or by going directly to https://edge.media-server.com/mmc/p/waa5bt3q. A webcast replay will be available at the link above approximately two hours after the conclusion of the event.

    An earnings supplement presentation and updated investor presentation are available under Events and Presentations in the Investors section of the Company’s website at www.targaresources.com/investors/events.

    (1)    Adjusted EBITDA and adjusted operating margin (segment) are non-GAAP financial measures and are discussed under “Non-GAAP Financial Measures.”


    Targa Resources Corp. – Consolidated Financial Results of Operations

      Three Months Ended March 31,            
      2025     2024   2025 vs. 2024
      (In millions)
    Revenues:                      
    Sales of commodities $ 3,884.4     $ 3,942.4     $ (58.0 )     (1 %)
    Fees from midstream services   677.1       620.0       57.1       9 %
    Total revenues   4,561.5       4,562.4       (0.9 )      
    Product purchases and fuel   3,257.8       3,218.0       39.8       1 %
    Operating expenses   303.6       278.0       25.6       9 %
    Depreciation and amortization expense   367.6       340.5       27.1       8 %
    General and administrative expense   94.5       86.5       8.0       9 %
    Other operating (income) expense   (5.3 )           (5.3 )     (100 %)
    Income (loss) from operations   543.3       639.4       (96.1 )     (15 %)
    Interest expense, net   (197.1 )     (228.6 )     31.5       14 %
    Equity earnings (loss)   5.5       2.8       2.7       96 %
    Other, net   0.3       1.7       (1.4 )   NM  
    Income tax (expense) benefit   (72.2 )     (82.7 )     10.5       13 %
    Net income (loss)   279.8       332.6       (52.8 )     (16 %)
    Less: Net income (loss) attributable to noncontrolling interests   9.3       57.4       (48.1 )     (84 %)
    Net income (loss) attributable to Targa Resources Corp.   270.5       275.2       (4.7 )     (2 %)
    Premium on repurchase of noncontrolling interests, net of tax   70.5             70.5       100 %
    Net income (loss) attributable to common shareholders $ 200.0     $ 275.2     $ (75.2 )     (27 %)
    Financial data:                      
    Adjusted EBITDA (1) $ 1,178.5     $ 966.2     $ 212.3       22 %
    Adjusted cash flow from operations (1)   970.0       738.4       231.6       31 %
    Adjusted free cash flow (1)   328.2       2.8       325.4     NM  

    (1)    Adjusted EBITDA, adjusted cash flow from operations and adjusted free cash flow are non-GAAP financial measures and are discussed under “Non-GAAP Financial Measures.”
    NM    Due to a low denominator, the noted percentage change is disproportionately high and as a result, considered not meaningful.


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

    Commodity sales are relatively flat reflecting lower NGL, natural gas and condensate volumes ($217.9 million), the unfavorable impact of hedges ($256.1 million) and lower condensate prices ($15.2 million), offset by higher natural gas and NGL prices ($431.2 million).

    The increase in fees from midstream services is primarily due to higher gas gathering and processing fees, and higher export volumes, partially offset by lower transportation and fractionation fees.

    Product purchases and fuel are relatively flat reflecting higher natural gas and NGL prices, offset by lower NGL and natural gas volumes.

    The increase in operating expenses is primarily due to higher labor, taxes and maintenance costs, partially offset by lower rental costs.

    See “—Review of Segment Performance” for additional information on a segment basis.

    The increase in depreciation and amortization expense is primarily due to the impact of system expansions on the Company’s asset base.

    The decrease in interest expense, net is due to recognition of cumulative interest on a legal ruling associated with the Splitter Agreement in 2024, partially offset by higher borrowings in 2025.

    The decrease in income tax expense is primarily due to a decrease in pre-tax book income.

    The decrease in net income attributable to noncontrolling interests is primarily due to the Badlands Transaction in 2025 and the acquisition of the remaining membership interest in Cedar Bayou Fractionators, L.P. in 2024.

    The premium on repurchase of noncontrolling interests, net of tax is due to the Badlands Transaction in 2025.

    Review of Segment Performance

    The following discussion of segment performance includes inter-segment activities. The Company views segment operating margin and adjusted operating margin as important performance measures of the core profitability of its operations. These measures are key components of internal financial reporting and are reviewed for consistency and trend analysis. For a discussion of adjusted operating margin, see “Non-GAAP Financial Measures ― Adjusted Operating Margin.” Segment operating financial results and operating statistics include the effects of intersegment transactions. These intersegment transactions have been eliminated from the consolidated presentation.

    The Company operates in two primary segments: (i) Gathering and Processing; and (ii) Logistics and Transportation.

    Gathering and Processing Segment

    The Gathering and Processing segment includes assets used in the gathering and/or purchase and sale of natural gas produced from oil and gas wells, removing impurities and processing this raw natural gas into merchantable natural gas by extracting NGLs; and assets used for the gathering and terminaling and/or purchase and sale of crude oil. The Gathering and Processing segment’s assets are located in the Permian Basin of West Texas and Southeast New Mexico (including the Midland, Central and Delaware Basins); the Eagle Ford Shale in South Texas; the Barnett Shale in North Texas; the Anadarko, Ardmore, and Arkoma Basins in Oklahoma (including the SCOOP and STACK) and South Central Kansas; the Williston Basin in North Dakota (including the Bakken and Three Forks plays); and the onshore and near offshore regions of the Louisiana Gulf Coast.

    The following table provides summary data regarding results of operations of this segment for the periods indicated:

      Three Months Ended March 31,                
      2025     2024     2025 vs. 2024
      (In millions, except operating statistics and price amounts)
    Operating margin $   602.2     $   556.4     $   45.8       8 %
    Operating expenses     208.2         188.1         20.1       11 %
    Adjusted operating margin $   810.4     $   744.5     $   65.9       9 %
    Operating statistics (1):                            
    Plant natural gas inlet, MMcf/d (2) (3)                            
    Permian Midland (4)     2,985.6         2,746.1         239.5       9 %
    Permian Delaware     3,020.3         2,648.9         371.4       14 %
    Total Permian     6,005.9         5,395.0         610.9       11 %
                                 
    SouthTX     295.1         304.9         (9.8 )     (3 %)
    North Texas     171.5         184.5         (13.0 )     (7 %)
    SouthOK (5)     318.0         357.2         (39.2 )     (11 %)
    WestOK     200.1         210.1         (10.0 )     (5 %)
    Total Central     984.7         1,056.7         (72.0 )     (7 %)
                                 
    Badlands (5) (6)     136.9         127.1         9.8       8 %
    Total Field     7,127.5         6,578.8         548.7       8 %
                                 
    Coastal     398.8         524.7         (125.9 )     (24 %)
                                 
    Total     7,526.3         7,103.5         422.8       6 %
    NGL production, MBbl/d (3)                            
    Permian Midland (4)     429.5         392.8         36.7       9 %
    Permian Delaware     366.4         307.0         59.4       19 %
    Total Permian     795.9         699.8         96.1       14 %
                                 
    SouthTX     28.8         28.9         (0.1 )      
    North Texas     21.0         21.9         (0.9 )     (4 %)
    SouthOK (5)     33.1         28.1         5.0       18 %
    WestOK     15.2         11.7         3.5       30 %
    Total Central     98.1         90.6         7.5       8 %
                                 
    Badlands (5)     16.4         14.6         1.8       12 %
    Total Field     910.4         805.0         105.4       13 %
                                  
    Coastal     32.7         39.1         (6.4 )     (16 %)
                                 
    Total     943.1         844.1         99.0       12 %
    Crude oil, Badlands, MBbl/d     107.1         94.4         12.7       13 %
    Crude oil, Permian, MBbl/d     29.0         27.6         1.4       5 %
    Natural gas sales, BBtu/d (3)     2,592.8         2,650.5         (57.7 )     (2 %)
    NGL sales, MBbl/d (3)     570.2         498.8         71.4       14 %
    Condensate sales, MBbl/d     18.1         19.1         (1.0 )     (5 %)
    Average realized prices (7):                            
    Natural gas, $/MMBtu     2.24         1.50         0.74       49 %
    NGL, $/gal     0.50         0.48         0.02       4 %
    Condensate, $/Bbl     72.32         77.22         (4.90 )     (6 %)

    (1)    Segment operating statistics include the effect of intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period.
    (2)    Plant natural gas inlet represents the Company’s undivided interest in the volume of natural gas passing through the meter located at the inlet of a natural gas processing plant, other than Badlands during 2024.
    (3)    Plant natural gas inlet volumes and gross NGL production volumes include producer take-in-kind volumes, while natural gas sales and NGL sales exclude producer take-in-kind volumes.
    (4)    Permian Midland includes operations in WestTX, of which the Company owns a 72.8% undivided interest, and other plants that are owned 100% by the Company. Operating results for the WestTX undivided interest assets are presented on a pro-rata net basis in the Company’s reported financials.
    (5)    Operations include facilities that are not wholly owned by the Company.
    (6)    Badlands natural gas inlet represents the total wellhead volume and includes the Targa volumes processed at the Little Missouri 4 plant.
    (7)    Average realized prices, net of fees, include the effect of realized commodity hedge gain/loss attributable to the Company’s equity volumes. The price is calculated using total commodity sales plus the hedge gain/loss as the numerator and total sales volume as the denominator, net of fees.

    The following table presents the realized commodity hedge gain (loss) attributable to the Company’s equity volumes that are included in the adjusted operating margin of the Gathering and Processing segment:

        Three Months Ended March 31, 2025     Three Months Ended March 31, 2024  
        (In millions, except volumetric data and price amounts)  
        Volume
    Settled
        Price
    Spread (1)
        Gain
    (Loss)
        Volume
    Settled
        Price
    Spread (1)
        Gain
    (Loss)
     
    Natural gas (BBtu)     7.7     $ 0.96     $ 7.4       14.4     $ 1.27     $ 18.3  
    NGL (MMgal)     97.5       (0.07 )     (6.6 )     134.1       0.01       1.7  
    Crude oil (MBbl)     0.7       1.00       0.7       0.4       (7.25 )     (2.9 )
                    $ 1.5                 $ 17.1  

    (1)    The price spread is the differential between the contracted derivative instrument pricing and the price of the corresponding settled commodity transaction.

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

    The increase in adjusted operating margin was predominantly due to higher natural gas inlet volumes in the Permian. The increase in natural gas inlet volumes in the Permian was attributable to the addition of the Roadrunner II plant during the second quarter of 2024, the Greenwood II plant during the fourth quarter of 2024, the Bull Moose plant during the first quarter of 2025, and continued strong producer activity despite severe winter weather events which impacted volumes during the first quarter of 2025.

    The increase in operating expenses was primarily due to higher volumes and multiple plant additions in the Permian.

    Logistics and Transportation Segment

    The Logistics and Transportation segment includes the activities and assets necessary to convert mixed NGLs into NGL products and also includes other assets and value-added services such as transporting, storing, fractionating, terminaling, and marketing of NGLs and NGL products, including services to LPG exporters and certain natural gas supply and marketing activities in support of the Company’s other businesses. The Logistics and Transportation segment also includes Grand Prix NGL Pipeline, which connects the Company’s gathering and processing positions in the Permian Basin, Southern Oklahoma and North Texas with the Company’s Downstream facilities in Mont Belvieu, Texas. The Company’s Downstream facilities are located predominantly in Mont Belvieu and Galena Park, Texas, and in Lake Charles, Louisiana.

    The following table provides summary data regarding results of operations of this segment for the periods indicated:

      Three Months Ended March 31,              
      2025     2024     2025 vs. 2024
      (In millions, except operating statistics)
    Operating margin $   646.7     $   532.1     $   114.6     22 %
    Operating expenses     95.5         90.0         5.5     6 %
    Adjusted operating margin $   742.2     $   622.1     $   120.1     19 %
    Operating statistics MBbl/d (1):                          
    NGL pipeline transportation volumes     843.5         717.8         125.7     18 %
    Fractionation volumes     979.9         797.2         182.7     23 %
    Export volumes     447.7         439.0         8.7     2 %
    NGL sales     1,186.4         1,227.6         (41.2 )   (3 %)

    (1)    Segment operating statistics include intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period.

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

    The increase in adjusted operating margin was due to higher pipeline transportation and fractionation margin and higher marketing margin. Pipeline transportation and fractionation volumes benefited from higher supply volumes primarily from the Company’s Permian Gathering and Processing systems, the addition of Train 9 during the second quarter of 2024, the in-service of the Daytona NGL Pipeline during the third quarter of 2024, and the addition of Train 10 during the fourth quarter of 2024. Marketing margin increased due to greater optimization opportunities.

    The increase in operating expenses was predominantly due to system expansions.

    Other

        Three Months Ended March 31,        
        2025     2024     2025 vs. 2024  
        (In millions)  
    Operating margin   $ (248.8 )   $ (22.1 )   $ (226.7 )
    Adjusted operating margin   $ (248.8 )   $ (22.1 )   $ (226.7 )

    Other contains the results of commodity derivative activity mark-to-market gains/losses related to derivative contracts that were not designated as cash flow hedges. The Company has entered into derivative instruments to hedge the commodity price associated with a portion of the Company’s future commodity purchases and sales and natural gas transportation basis risk within the Company’s Logistics and Transportation segment.

    About Targa Resources Corp.

    Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary domestic infrastructure assets and its operations are critical to the efficient, safe and reliable delivery of energy across the United States and increasingly to the world. The Company’s assets connect natural gas and NGLs to domestic and international markets with growing demand for cleaner fuels and feedstocks. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to LPG exporters; and gathering, storing, terminaling, and purchasing and selling crude oil.

    Targa is a FORTUNE 500 company and is included in the S&P 500.

    For more information, please visit the Company’s website at www.targaresources.com.

    Non-GAAP Financial Measures

    This press release includes the Company’s non-GAAP financial measures: adjusted EBITDA, adjusted cash flow from operations, adjusted free cash flow and adjusted operating margin (segment). The following tables provide reconciliations of these non-GAAP financial measures to their most directly comparable GAAP measures.

    The Company utilizes non-GAAP measures to analyze the Company’s performance. Adjusted EBITDA, adjusted cash flow from operations, adjusted free cash flow and adjusted operating margin (segment) are non-GAAP measures. The GAAP measures most directly comparable to these non-GAAP measures are income (loss) from operations, Net income (loss) attributable to Targa Resources Corp. and segment operating margin. These non-GAAP measures should not be considered as an alternative to GAAP measures and have important limitations as analytical tools. Investors should not consider these measures in isolation or as a substitute for analysis of the Company’s results as reported under GAAP. Additionally, because the Company’s non-GAAP measures exclude some, but not all, items that affect income and segment operating margin, and are defined differently by different companies within the Company’s industry, the Company’s definitions may not be comparable with similarly titled measures of other companies, thereby diminishing their utility. Management compensates for the limitations of the Company’s non-GAAP measures as analytical tools by reviewing the comparable GAAP measures, understanding the differences between the measures and incorporating these insights into the Company’s decision-making processes.

    Adjusted Operating Margin

    The Company defines adjusted operating margin for the Company’s segments as revenues less product purchases and fuel. It is impacted by volumes and commodity prices as well as by the Company’s contract mix and commodity hedging program.

    Gathering and Processing adjusted operating margin consists primarily of:

    • service fees related to natural gas and crude oil gathering, treating and processing; and
    • revenues from the sale of natural gas, condensate, crude oil and NGLs less producer settlements, fuel and transport and the Company’s equity volume hedge settlements.

    Logistics and Transportation adjusted operating margin consists primarily of:

    • service fees (including the pass-through of energy costs included in certain fee rates);
    • system product gains and losses; and
    • NGL and natural gas sales, less NGL and natural gas purchases, fuel, third-party transportation costs and the net inventory change.

    The adjusted operating margin impacts of mark-to-market hedge unrealized changes in fair value are reported in Other.

    Adjusted operating margin for the Company’s segments provides useful information to investors because it is used as a supplemental financial measure by management and by external users of the Company’s financial statements, including investors and commercial banks, to assess:

    • the financial performance of the Company’s assets without regard to financing methods, capital structure or historical cost basis;
    • the Company’s operating performance and return on capital as compared to other companies in the midstream energy sector, without regard to financing or capital structure; and
    • the viability of capital expenditure projects and acquisitions and the overall rates of return on alternative investment opportunities.

    Management reviews adjusted operating margin and operating margin for the Company’s segments monthly as a core internal management process. The Company believes that investors benefit from having access to the same financial measures that management uses in evaluating the Company’s operating results. The reconciliation of the Company’s adjusted operating margin to the most directly comparable GAAP measure is presented under “Review of Segment Performance.”

    Adjusted EBITDA

    The Company defines adjusted EBITDA as Net income (loss) attributable to Targa Resources Corp. before interest, income taxes, depreciation and amortization, and other items that the Company believes should be adjusted consistent with the Company’s core operating performance. The adjusting items are detailed in the adjusted EBITDA reconciliation table and its footnotes. Adjusted EBITDA is used as a supplemental financial measure by the Company and by external users of the Company’s financial statements such as investors, commercial banks and others to measure the ability of the Company’s assets to generate cash sufficient to pay interest costs, support the Company’s indebtedness and pay dividends to the Company’s investors.

    Adjusted Cash Flow from Operations and Adjusted Free Cash Flow

    The Company defines adjusted cash flow from operations as adjusted EBITDA less cash interest expense on debt obligations and cash tax (expense) benefit. The Company defines adjusted free cash flow as adjusted cash flow from operations less maintenance capital expenditures (net of any reimbursements of project costs) and growth capital expenditures, net of contributions from noncontrolling interests and including contributions to investments in unconsolidated affiliates. Adjusted cash flow from operations and adjusted free cash flow are performance measures used by the Company and by external users of the Company’s financial statements, such as investors, commercial banks and research analysts, to assess the Company’s ability to generate cash earnings (after servicing the Company’s debt and funding capital expenditures) to be used for corporate purposes, such as payment of dividends, retirement of debt or redemption of other financing arrangements.

    The following table reconciles the non-GAAP financial measures used by management to the most directly comparable GAAP measures for the periods indicated:

      Three Months Ended March 31,  
      2025     2024  
      (In millions)  
    Reconciliation of Net income (loss) attributable to Targa Resources Corp. to Adjusted EBITDA, Adjusted Cash Flow from Operations and Adjusted Free Cash Flow          
    Net income (loss) attributable to Targa Resources Corp. $ 270.5     $ 275.2  
    Interest (income) expense, net   197.1       228.6  
    Income tax expense (benefit)   72.2       82.7  
    Depreciation and amortization expense   367.6       340.5  
    (Gain) loss on sale or disposition of assets   (0.5 )     (1.1 )
    Write-down of assets   2.0       1.0  
    (Gain) loss from financing activities   0.6        
    Equity (earnings) loss   (5.5 )     (2.8 )
    Distributions from unconsolidated affiliates   4.9       6.3  
    Compensation on equity grants   17.6       14.6  
    Risk management activities   248.8       22.0  
    Noncontrolling interests adjustments (1)   3.2       (0.8 )
    Adjusted EBITDA $ 1,178.5     $ 966.2  
    Interest expense on debt obligations (2)   (193.2 )     (224.9 )
    Cash taxes   (15.3 )     (2.9 )
    Adjusted Cash Flow from Operations $ 970.0     $ 738.4  
    Maintenance capital expenditures, net (3)   (47.3 )     (49.8 )
    Growth capital expenditures, net (3)   (594.5 )     (685.8 )
    Adjusted Free Cash Flow $ 328.2     $ 2.8  

    (1)    Represents adjustments related to the Company’s subsidiaries with noncontrolling interests, including depreciation and amortization expense as well as earnings for certain plants within Targa’s WestTX joint venture not subject to noncontrolling interest accounting.
    (2)    Excludes amortization of interest expense. The three months ended March 31, 2024 includes $54.9 million of interest expense on a 2024 legal ruling associated with an agreement, dated December 27, 2015, for crude oil and condensate between Targa Channelview LLC, then a subsidiary of the Company, and Noble Americas Corp.
    (3)    Represents capital expenditures, net of contributions from noncontrolling interests and includes contributions to investments in unconsolidated affiliates.

    The following table presents a reconciliation of estimated net income of the Company to estimated adjusted EBITDA for 2025:

      2025E  
      (In millions)  
    Reconciliation of Estimated Net Income Attributable to Targa Resources Corp. to    
    Estimated Adjusted EBITDA    
    Net income attributable to Targa Resources Corp. $ 1,555.0  
    Interest expense, net   860.0  
    Income tax expense   485.0  
    Depreciation and amortization expense   1,525.0  
    Equity earnings   (20.0 )
    Distributions from unconsolidated affiliates   25.0  
    Compensation on equity grants   70.0  
    Risk management and other   250.0  
    Estimated Adjusted EBITDA $ 4,750.0  

    Regulation FD Disclosures

    The Company uses any of the following to comply with its disclosure obligations under Regulation FD: press releases, SEC filings, public conference calls, or our website. The Company routinely posts important information on its website at www.targaresources.com, including information that may be deemed to be material. The Company encourages investors and others interested in the company to monitor these distribution channels for material disclosures.

    Forward-Looking Statements

    Certain statements in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, are forward-looking statements, including statements regarding our projected financial performance, capital spending and payment of future dividends. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside the Company’s control, which could cause results to differ materially from those expected by management of the Company. Such risks and uncertainties include, but are not limited to, actions taken by other countries with significant hydrocarbon production, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the timing and success of our completion of capital projects and business development efforts, the expected growth of volumes on our systems, the impact of significant public health crises, commodity price volatility due to ongoing or new global conflicts, the impact of disruptions in the bank and capital markets, including those resulting from lack of access to liquidity for banking and financial services firms, changes in laws and regulations, particularly with regard to taxes, tariffs and international trade, and other uncertainties. These and other applicable uncertainties, factors and risks are described more fully in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company does not undertake an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

    Targa Investor Relations
    InvestorRelations@targaresources.com
    (713) 584-1133

    The MIL Network

  • MIL-OSI: Best Sugar Daddy Apps [2025] Free Sugar Daddy Dating Apps To Meet Sugar Daddies And Sugar Babies Online

    Source: GlobeNewswire (MIL-OSI)

    Las Vegas, Nevada, May 01, 2025 (GLOBE NEWSWIRE) — Navigating the world of sugar dating apps requires knowledge, discretion, and careful platform selection. This comprehensive guide explores the top-rated sugar daddy apps, helping you make informed decisions about finding meaningful connections in the sugar dating landscape.

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    Selecting the right sugar daddy app impacts your entire dating experience. Premium platforms like SugarDaddy.com lead the market with robust security measures, privacy controls, and extensive user bases. This sugar dating app implements strict verification processes, ensuring authentic connections while protecting user information.

    Based on user feedback, safety features, privacy policies, and platform usability, sugardaddy.com is the best sugar daddy app in 2025, helping those looking to meet genuine sugar daddies or babies. As the interest in sugar dating continues to rise, especially among young professionals and high-income individuals, sugar daddy apps like sugardaddy.com have become a preferred option for connection and convenience.

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    What Are Sugar Daddy Apps?

    Sugar daddy apps are dating platforms created to connect successful, affluent individuals (typically sugar daddies or mommies) with attractive, younger partners (sugar babies) who are seeking financial support, mentorship, and lifestyle perks in return for companionship and emotional connection.

    These apps go beyond typical swiping and chatting—they set the stage for transparent relationships built on mutual expectations and clearly defined arrangements.

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    How to Choose the Best Sugar Daddy Dating App

    Not every platform will suit your needs. Here are key factors to consider:

    • Transparency: Look for platforms that support honest communication.
    • User base: Choose apps with active, high-quality profiles.
    • Privacy tools: Essential for both sugar daddies and babies.
    • Pricing model: Some prefer subscription-based; others like pay-as-you-go.

    Tips for Success on Sugar Daddy Apps

    1. Create a compelling profile – Use high-quality photos and an honest bio.
    2. Be clear about your expectations – Sugar dating works best with mutual understanding.
    3. Communicate respectfully and openly – Build trust through genuine interaction.
    4. Prioritize your safety – Meet in public and verify before exchanging sensitive details.
    5. Stay active – Regular engagement boosts visibility and response rates.

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    Safety First: How to Protect Yourself Online

    Whether you’re a sugar daddy or a sugar baby, safety should be your top priority:

    • Always meet in public first
    • Don’t share personal financial data
    • Use in-app messaging for initial chats
    • Report suspicious behavior immediately

    Benefits of Using Sugar Daddy Apps

    • Clarity in relationships: These platforms promote upfront conversations about expectations.
    • Financial support: Sugar babies often gain access to mentorship, gifts, and allowances.
    • Luxury lifestyle: Many arrangements include travel, events, and upscale experiences.
    • Emotional connection: Despite stereotypes, meaningful bonds can and do form.

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    Key Features to Look for in the Best Sugar Daddy Apps

    Selecting a reliable sugar dating platform requires attention to specific features that ensure safety, privacy, and successful connections. Here’s what you need to prioritize:

    1. Identity Verification Systems

    The best sugar daddy apps have robust identity verification systems in place to ensure that users are who they claim to be. Look for platforms that offer the following:

    • Photo verification through selfie checks
    • Social media account linking options
    • Income verification for sugar daddies
    • Background screening capabilities
    • Professional status confirmation

    2. Advanced Privacy Controls

    Privacy is crucial in the world of online dating, especially when it comes to sugar relationships. The top apps understand this and provide advanced privacy controls such as:

    • Invisible browsing modes
    • Private photo galleries
    • Custom profile visibility settings
    • Data encryption protocols
    • Ability to hide online status
    • Control over profile information display

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    3. Communication Features

    Effective communication is key to building connections with potential sugar partners. Look for apps that offer a variety of communication features, including:

    • In-app messaging systems
    • Video chat capabilities
    • Virtual gift exchanges
    • Clear arrangement discussion tools
    • Built-in translation services (if applicable)
    • Message filtering options


    4. User Experience Elements

    A user-friendly interface can make a significant difference in your overall experience with a sugar daddy app. Look for platforms that prioritize user experience through:

    • Mobile-responsive design for seamless access on smartphones and tablets
    • Quick-access navigation menus for easy exploration of the app’s features
    • Advanced search filters to help you find compatible matches
    • Profile matching algorithms that suggest potential partners based on your preferences
    • Real-time notifications for important updates and messages
    • Easy profile setup process to get started quickly


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    5. Safety Measures

    • Your safety should always be a top priority when using dating apps. Look for platforms that have implemented the following safety measures:
    • 24/7 customer support for immediate assistance with any issues or concerns
    • Profile reporting tools to flag suspicious or inappropriate behavior
    • Automated scam detection systems to identify and block fraudulent accounts
    • Emergency contact features in case of any dangerous situations during meetings
    • Block and mute options to prevent unwanted communication from certain users

    The best sugar daddy apps incorporate these features while maintaining a clean, intuitive interface. You’ll want to look for platforms that regularly update their security measures and adapt to user feedback. High-quality apps also provide detailed tutorials and support documentation to help you maximize these features for your safety and success.

    Remember to test the free versions of multiple apps to experience their interfaces and feature sets firsthand. This hands-on approach helps you identify which platform best aligns with your specific needs and preferences in the sugar dating world.

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    The Growing Use of Sugar Daddy Apps

    Sugar daddy apps are now used by a much broader range than in previous years. In 2025, these platforms have become a preferred option for those who want clarity from the start. Users are looking for connections that allow both people to state their expectations upfront. A sugar daddy app makes that process easier.

    Many adults now view sugar daddy dating as a practical and valid way to meet others. Whether looking for conversation, financial help, or something more personal, they often prefer using tools that allow for open discussions.

    Changing Dating Preferences Across Generations

    Younger generations are playing a key role in this shift. People in their 20s and 30s have different expectations from those of earlier dating cultures. Many focus on career goals, education, and financial stability. In the traditional sense, long-term dating isn’t always their first priority.

    At the same time, older users—often in their 40s or 50s—are using sugar daddy apps to meet younger partners with whom they can share meaningful experiences. These users usually have busy professional lives and little time for casual dating. A sugar daddy app allows for connection without pressure.

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    Financial Pressures Influence Relationship Models

    The financial side of dating has become more visible. Rising rent, education costs, and inflation have made it harder for many people to feel secure. That’s one reason why sugar daddy apps have become so popular. For some, meeting a supportive partner through an online sugar daddy platform helps balance financial goals with emotional needs.

    Mutually beneficial relationships, when based on honesty and respect, are now seen as a modern dating choice. These types of arrangements can help both sugar daddies and sugar babies feel more in control of their lives.

    Why Structured Agreements Appeal Today

    Unlike traditional dating apps, which often rely on vague intentions or unclear signals, sugar daddy apps offer a more structured experience. Users can share what they want—financial support, emotional companionship, or mentorship—without guessing the other person’s motives.

    This direct connection style is why many prefer sugar daddy websites and apps. It saves time and lowers the chance of miscommunication.

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    How Sugar Daddy Apps Work

    A Direct Way to Connect

    Sugar daddy apps give users a practical way to meet others looking for similar relationships. These platforms are built to support arrangements that are clear from the start. Whether someone is searching for emotional connection, financial support, or companionship, a sugar daddy app helps both people define their goals early.

    The design of these apps is often focused and straightforward. Unlike general dating platforms, sugar daddy apps are more structured and offer features specifically for users who want purposeful arrangements.

    Setting Up a Profile

    The first step to using a sugar daddy app is creating a profile. This is where users introduce themselves, add photos, and explain their wants. Sugar daddies often describe their lifestyle, availability, and what type of arrangement they prefer. Sugar babies may list their goals, interests, and expectations.

    Unlike many standard dating sites, sugar daddy apps allow users to be upfront. There’s no need for vague descriptions or guessing games. A strong profile helps both sides avoid wasted time and attracts the kind of people they seek.

    Some platforms offer tips while building a profile, such as keeping descriptions honest and using clear, current photos. The more open and real the profile is, the more likely it is to lead to a match.

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    Matching and Search Tools

    Most sugar daddy apps offer two main ways to connect: browsing or algorithm-based matches. Users can scroll through profiles or use filters to find someone who fits their preferences. Standard filters include location, age, lifestyle, goals, and arrangement type.

    Some apps also offer advanced search options. For example, users can look for a millionaire sugar daddy, someone offering mentorship, or someone interested in virtual-only arrangements. These tools help narrow the search and improve the chances of meeting someone with the same interests.

    Matching systems vary across platforms, but the focus stays on simplicity and clarity. Whether someone wants to meet in person or keep things online, they can search based on what matters to them.

    Tools for Communication

    Once a connection is made, sugar daddy apps provide ways to talk directly within the app. Messaging tools may include private chat, voice notes, or even video calling. This helps both sides get to know each other safely before deciding to take things further.

    Some apps include verification steps to ensure the people using them are real. This might involve ID checks, selfie verification, or income confirmation for sugar daddies. These tools help build trust and reduce the risk of fake profiles.

    Photo privacy is another common feature. Users can blur images, control who sees them, or use locked photo galleries to maintain privacy.

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    Sugar Daddy Apps vs. Sugar Daddy Websites

    While many features are the same, there are a few differences between sugar daddy apps and sugar daddy websites. Apps are designed for quick, on-the-go use. They are ideal for users who want mobile access, instant updates, and simple communication tools.

    Websites, on the other hand, often offer more detail. Users can create longer profiles, upload more content, and explore search tools with more depth. Some people prefer the larger screen and full-feature experience that sugar daddy sites provide.

    That said, most top platforms now offer both. This means users can choose how to connect—using a sugar daddy dating app during the day, then switching to the full website at home.

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    Are Sugar Daddy Apps That Send Money Without Meeting Real?

    Searches for sugar daddy apps that send money without meeting have grown recently. Many people are curious whether receiving financial support through a sugar daddy app is possible without meeting in person. While the idea is appealing to some users, especially those who prefer virtual connections, it’s essential to understand how these situations work.

    Users sometimes form genuine online-only arrangements, but these are the exception, not the rule. Most sugar daddies want to build some level of connection before offering support.

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    What’s Real and What’s Not

    Legitimate sugar dating often involves a mutual agreement between both parties. This could include financial support, mentorship, or shared time. However, when someone offers money right away without verifying their identity or getting to know the other person, it’s a sign to pause and ask questions.

    A real sugar daddy app will not promise instant payments or guarantee financial rewards just for signing up. Be careful with users who offer large amounts of money too quickly or try to take the conversation off the platform right away.

    There are real sugar dating arrangements that happen entirely online, but they usually involve clear communication, gradual trust-building, and the use of verified features within the app.

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    Recognizing Red Flags

    You must stay aware of common scam tactics when using any sugar daddy dating app. Here are some warning signs to watch out for:

    • A user offers money before any real conversation takes place
    • They avoid video calls or ID verification
    • They ask for your Cash App, PayPal, or personal banking details early on
    • They claim to have sent you money and ask for a “refund” of the extra amount
    • They want to switch to text or messaging apps immediately after matching

    These are often signs of scam activity. A trustworthy online sugar daddy will take the time to verify their identity, respect boundaries, and follow the normal flow of conversation within the app.

    Safe Practices for New Users

    If you’re new to sugar dating, take steps to stay protected. Use apps with built-in safety tools like identity checks, secure messaging, and moderation. Stick to communication inside the app until you’re sure the person you’re speaking with is real.

    It’s also smart to set clear boundaries. Let the other person know what you’re comfortable with, and don’t feel pressured to move too fast. If someone offers to send money right away, ask questions and be cautious.

    While some sugar daddy apps do support long-distance or online-only arrangements, the safest and most rewarding connections usually come from people who are upfront, respectful, and interested in building trust over time.

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    Why Millionaire Sugar Daddies Prefer Apps in 2025

    Time, Privacy, and Precision

    Many millionaire sugar daddies have demanding schedules and limited time for traditional dating. In 2025, sugar daddy apps have become a preferred tool for those who want to connect quickly and quietly. These users often seek arrangements that respect their time and offer clear expectations.

    A sugar daddy app allows busy professionals to browse, match, and communicate without extended small talk. It saves time by focusing on users who are upfront about what they’re looking for. That directness appeals to people who are used to working with structure and efficiency.

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    Lifestyle Matchmaking

    Sugar daddy apps are also popular among high-income individuals because they offer matches that align with specific lifestyles. Whether dining out, luxury travel, or intellectual connection, the app format makes finding someone with shared interests easier.

    Some users prefer arrangements that are travel-based or seasonal. A sugar daddy might spend part of the year in another city or travel often for work. The app format makes it possible to connect with people in different locations, schedule time in advance, and communicate discreetly while moving.

    Discretion as a Key Feature

    Privacy is vital to many high-net-worth individuals. Using a sugar daddy dating app gives them more control over what they share when they respond, and how they present their profiles. Features like photo blurring, private messaging, and verification options create a more secure experience.

    These tools are handy for those who want to keep their personal lives separate from their business or public profiles. Many apps have built-in moderation to limit fake profiles and increase user trust.

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    Sugar Daddy Sites vs. Sugar Daddy Apps

    Both sugar daddy websites and apps serve the same purpose—helping people connect for mutually beneficial arrangements—but how users interact with them can differ.

    Apps are built for convenience. They’re ideal for users who want access to matches on the go. Whether during a lunch break or while traveling, a sugar daddy app offers quick access to profiles, chat tools, and updates. The layout is simple and designed for mobile users who prefer efficiency.

    On the other hand, sugar daddy sites often provide a more detailed experience. Longer bios, full-size photo galleries, and expanded search filters are common on the desktop version. Users who like to explore profiles more deeply or want to manage their matches from a larger screen may prefer this format.

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    Hybrid Use Is Common

    Many users switch between both. Someone might use a sugar daddy website at home and rely on the app when they’re out. This hybrid approach gives users flexibility, allowing them to maintain conversations and update their profiles from anywhere.

    For someone trying to find a sugar daddy, or for a sugar daddy hoping to connect with someone who understands their lifestyle, having access to both formats can be helpful.

    Online Connections That Fit Real Life

    Whether through a mobile app or a desktop site, sugar dating platforms in 2025 are designed to fit into people’s daily routines. From a quick match to a long-term connection, these tools help people make decisions based on clarity, preference, and availability.

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    How Sugar Daddy Apps Prioritize Safety in 2025

    Verified Profiles Build Trust

    Safety is one of the top concerns for anyone using a sugar daddy app in 2025. The best sugar daddy apps now require verification steps to protect users. These can include ID checks, selfie verification, and even income confirmation for sugar daddies. Verified profiles reduce the risk of scams and help people feel more secure when they start a new connection.

    Verified accounts are easier to trust when using a sugar daddy dating app. Users can see who is serious about finding an arrangement and who might be trying to mislead others. Verification makes a real difference in the overall experience.

    Photo Privacy and Secure Messaging

    Modern sugar daddy apps also provide tools to keep personal information private. Features like photo blurring, hidden albums, and profile controls let users decide who sees what. These privacy settings give both sugar babies and sugar daddies more control over their visibility.

    In-app messaging systems are designed to prevent spam and keep all conversations within a secure space. Some platforms also offer keyword filters to block suspicious messages. Together, these features help create a safer, more respectful environment.

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    Scam Prevention and Moderation

    Scam filtering has improved across many top sugar daddy websites and apps. Newer technology helps flag fake profiles and detect suspicious behavior early. When users report something that feels off, moderators can quickly review and act.

    The presence of active moderation is part of what separates legit sugar daddy sites from platforms that allow anything. A well-managed community supports safe dating and keeps the experience real.

    Why Verified Sugar Daddy Apps Matter

    Choosing a verified sugar daddy app matters. These apps aren’t just more secure and attract more serious users. People are less likely to run into fake profiles, time-wasters, or scammers when verification and moderation are part of the platform.

    Anyone looking to find a sugar daddy or connect with a real online sugar daddy should prioritize safety first. Verified apps are built to support that goal.

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    Final Thoughts

    Choosing the best sugar daddy app for your needs requires clarity about what you’re looking for—be it companionship, mentorship, or a luxurious lifestyle. The apps listed above each cater to different preferences and relationship styles. Explore the options, protect your privacy, and enjoy the journey of sugar dating in 2025.

    FAQs

    What are the best free sugar daddy apps?

    Some platforms like sugardaddy.com offer free basic memberships with optional paid upgrades.

    Can sugar babies get paid without meeting in person?

    Yes, some arrangements are entirely virtual. However, these are based on trust and clear agreement.

    Are sugar daddy apps safe to use?

    Reputable sugar daddy apps use encryption, profile verification, and fraud detection tools to keep users safe.

    Is sugar dating the same as escorting?

    No. Sugar dating is about mutually agreed-upon relationships that may or may not include intimacy. Escorting is transactional and often illegal.

    Are sugar daddy apps free?

    Many sugar daddy apps allow users to create an account and browse for free. However, to unlock full features, such as sending messages, viewing full profiles, or accessing premium filters, there’s often a paid membership option. Some sugar daddy apps free do exist, but they may have limited tools or fewer privacy features. Premium versions typically offer more security and better results.

    Do sugar daddies send money without meeting?

    It’s possible, but it’s rare. Most real sugar daddies prefer talking and building trust before offering support. While the idea of sugar daddy apps that send money without a meeting is popular in searches, many of those offers are linked to scams. If someone offers money immediately without real conversation or identity verification, it’s best to be cautious.

    How can I avoid scams on free sugar daddy apps?

    Always use verified sugar daddy apps with built-in security features like ID checks and profile moderation to stay safe. Avoid users who ask for personal financial information early on, and be wary of anyone who refuses to video chat or verify their identity. Don’t move conversations off the app too soon. If something feels off, trust your instincts and report the account.

    Where can I find a sugar daddy?

    You can find a sugar daddy using platforms specifically designed for sugar dating. The best way is through sugar daddy websites or apps that allow you to set preferences, filter by lifestyle or location, and communicate safely.

    Are sugar daddy relationships only about money?

    No. While financial support can be part of the arrangement, many sugar relationships are based on emotional connection, shared interests, or mentorship. Some sugar babies are looking for guidance or companionship more than anything else. Likewise, sugar daddies often seek someone who understands their lifestyle and values honesty and communication.

    Can sugar dating lead to long-term relationships?

    Yes, it can. Some sugar dating arrangements stay short-term, while others grow into longer commitments, including serious relationships or even marriage. Every arrangement is unique, and both define its meaning to them. What matters most is that both parties clearly understand their expectations from the start.

    Can men be sugar babies?

    Yes, men can be sugar babies, too. While most platforms have more women using them in that role, many sites and apps support a wide range of gender identities and relationship preferences. The sugar dating space is becoming more inclusive, and more men are finding arrangements that work for their lifestyle goals and personal needs.

    Media Contact

    Company: Sugar Daddy LLC

    Contact Person: Christopher A. Waldo

    Email: support@sugardaddy.com

    Address: 5820 Sunset Ridge Ave, Las Vegas, Nevada, USA

    URL: https://www.sugardaddy.com/

    Phone: +1 (888) 841-4235

    Content Accuracy Disclaimer

    Every effort has been made to ensure the accuracy of the information presented in this article. However, due to the dynamic nature of product formulations, promotions, and availability, details may change without notice. The publisher makes no warranties or representations as to the current completeness or accuracy of any content, including product claims, pricing, or ingredient lists.

    It is the responsibility of the reader to verify product information directly through the official website or manufacturer prior to making a purchasing decision. Any reliance placed on the information in this article is done strictly at your own risk.

    Affiliate Disclosure

    This article may contain affiliate links. If you purchase a product or service through these links, the publisher may earn a commission at no additional cost to you. These commissions help support the creation of in-depth reviews and educational wellness content.

    The publisher only promotes products that have been independently evaluated and deemed potentially beneficial to readers. However, this compensation may influence the content, topics, or products discussed in this article. The views and opinions expressed are those of the author and do not necessarily reflect the official policy or position of any affiliate partner or product provider.

    All product reviews and descriptions reflect the author’s honest opinion based on available public data, user feedback, and scientific references at the time of writing. The inclusion of affiliate links does not influence the objectivity or integrity of the content. However, readers are encouraged to independently verify product information and consult with healthcare professionals prior to purchase or use.

    No warranties, either expressed or implied, are made about the completeness, accuracy, reliability, or suitability of the content provided. The publisher and all affiliated parties expressly disclaim any and all liability arising directly or indirectly from the use of any information contained herein.

    Product and Trademark Rights

    All product names, logos, and brands mentioned are the property of their respective owners. Use of these names does not imply endorsement unless explicitly stated. SDE® , SUGARDADDY® are the trademarks of its respective brand owner.

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    The MIL Network

  • MIL-OSI Asia-Pac: Cultural and Creative Industries Development Agency and Hong Kong Film Development Council lead industry delegation to participate in Far East Film Festival in Udine, Italy (with photos)

    Source: Hong Kong Government special administrative region

    ​The Cultural and Creative Industries Development Agency (CCIDA) of the Culture, Sports and Tourism Bureau and the Hong Kong Film Development Council (FDC) led an industry delegation to participate in the 27th Far East Film Festival (FEFF) in Udine, Italy. Screenings of Hong Kong films and “Hong Kong Night” networking reception were held during the FEFF to promote Hong Kong films, increase overseas exposure for emerging Hong Kong film talents, build their international connections, and expand the global market for Hong Kong films. Members of the delegation included the Assistant Commissioner for Cultural and Creative Industries and Secretary-General of the Film Development Council, Mr Gary Mak, renowned director Tsui Hark, director and actress Sylvia Chang, directors Philip Yung, Anthony Pun, Oliver Chan, Jill Leung, as well as actors Jo Koo, Hedwig Tam, Natalie Hsu and Dylan So. The strong lineup showcased to the international film community the strength and new blood of the Hong Kong film industry.
       
    Being the largest Asian film festival in Europe, the FEFF in Udine held from April 24 to May 2 (Udine time) showcased the latest film productions and creative teams from Asia and received significant regional and international interest from the film industry, cultural sector and media. During the festival, the CCIDA and the FDC presented screening events “Making Waves – Navigators of Hong Kong Cinema” to showcase 10 Hong Kong films to industry professionals and audiences from all over the world. The films include “Four Trails”, “The Last Dance” (Extended Version), “The Prosecutor” and restored prints of classic films “Shanghai Blues”, “Mr Vampire” and “Green Snake”. Director Tsui Hark and actress Sylvia Chang of “Shanghai Blues”, director Oliver Chan and actress Hedwig Tam of “Montages of a Modern Motherhood”, director Anthony Pun of “Cesium Fallout”, director Jill Leung and actress Natalie Hsu of “Last Song for You” and director Philip Yung and actors Jo Koo and Dylan So of “Papa” participated in the meet-and-greet sessions of the respective films and the FEFF Talks.
     
    The “Hong Kong Night” networking reception held last night (April 30, Udine time), assisted by the Hong Kong Economic and Trade Office in Brussels, brought together around 200 representatives from the film, cultural sector, government, business sector and media, promoting exchanges and collaborations with international filmmakers. Mr Mak in his welcoming remarks extended congratulations to Tsui Hark and Sylvia Chang on receiving the Golden Mulberry Award for Lifetime Achievement of the 27th Far East Film Festival in Udine, Italy and was proud of the two important filmmakers of the Chinese film industry receiving the international honour. He added that the Government of the Hong Kong Special Administrative Region is committed to fostering the development of Hong Kong’s film industry. The Film Development Fund (FDF) has supported over 120 films which involved more than 110 new directors and producers. The Hong Kong-Europe-Asian Film Collaboration Funding Scheme under the FDF also supports film projects co-produced by filmmakers from Hong Kong and European/Asian countries to produce films with strong Hong Kong, European and Asian cultures, enabling Hong Kong films to go global and further strengthening Hong Kong’s role as East-meets-West Centre for international cultural exchange.
     
    In addition, the CCIDA and the FDC collaborated with the FEFF’s programme FOCUS ASIA and organised HONG KONG LAB@FOCUS ASIA from April 29 to 30 (Udine time), inviting international film industry professionals and five potential Hong Kong producers and directors to share their experiences in co-production, cross-boundary financing and venture capital, as well as future strategies. Speakers include director Lawrence Kan of “In Broad Daylight”, director Steve Yuen of “The Moon Thieves”, producer Wong Hoi of “The Lyricist Wannabe”, director Eric Tsang of “Hong Kong Family” and the Chairman of Hong Kong Movie Production Executives Association, Mr Johnny Wang. The CCIDA arranged a business matching session with an aim to foster project development between filmmakers from Hong Kong and various regions. Through collaborating with Italian film organisation, Cinecitta, the business matching session also connected producers from Hong Kong and Italy for direct liaison to explore future collaborations and film development opportunities.

    MIL OSI Asia Pacific News

  • MIL-Evening Report: Gallery: Doctors, health workers challenge NZ government over national crisis

    Asia Pacific Report

    Thousands of senior hospital doctors and specialists walked off the job today for an unprecedented 24-hour strike in protest over stalled contract negotiations and thousands of other health workers protested across Aotearoa New Zealand against the coalition government’s cutbacks to the public health service Te Whatu Ora.

    In spite of the disruptive bad weather across the country, protesters were out in force expressing their concerns over a national health service in crisis.

    Among speakers criticising the government’s management of public health at a rally at the entrance to The Domain, near Auckland Hospital, many warned that the cutbacks were a prelude to “creeping privatisation”.

    “Health cuts hurt services, the patients who rely on them, and the workers who deliver them,” said health worker Jason Brooke.

    “Under this coalition government we’ve seen departments restructured, roles disestablished, change proposals enacted, and hiring freezes implemented.

    “Make no mistake. This is austerity. This is managed decline.

    “The coalition can talk all they like about spending more on healthcare, the reality for ‘those-of-us-on-the-ground’ is that we know that money is not being spent where it’s needed.”

    Placards said “Fight back together for the workers”, “Proud to be union”, “We’re fighting back for workers rights”, and one poster declared: “Don’t bite the hand that wipes your bum — safe staffing now”.

    Palestine supporters also carried a May Day message of solidarity from Palestinian Confederation of Trade Unions.

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Tourism to the US is tanking. Flight Centre is facing a $100m hit as a result

    Source: The Conversation (Au and NZ) – By Anita Manfreda, Senior Lecturer in Tourism, Torrens University Australia

    Doubletree Studio/Shutterstock

    Flight Centre, one of the world’s largest travel agencies, has warned it could lose more than A$100 million in earnings this year, citing weakening demand for travel to the United States.

    In a statement to the Australian Securities Exchange (ASX) this week, the company pointed to “volatile trading conditions” linked to changes in US entry policies.

    This is the first major indication from an Australian company that travel to the US is becoming a serious concern. It follows growing consumer fears linked to US immigration checks, reports of tourists being detained, and rising costs.

    Australian visitor numbers to the US fell by 7% in March compared with the same time last year – the sharpest fall since the COVID pandemic.

    Australians are not the only ones staying away. New US data for March show sharp drops in visitors from key markets: Germany (down 28%), Spain (25%), the United Kingdom (18%) and South Korea (15%), to name a few. In total, inbound tourism fell 11.6%.

    Even Canadian travellers, traditionally the US’s most reliable market, dropped by more than 900,000 or 17% in March, as growing numbers of Canadians opt to boycott US holidays.

    What was once a reliable flow of high-spending international travellers is becoming a much quieter stream.

    America’s welcome mat is wearing thin

    The US, long marketed as the land of opportunity and adventure, is increasingly perceived as unwelcoming. Tighter border scrutiny, aggressive immigration enforcement, and a sharp shift in political tone have made travellers wary.

    The international arrivals terminal at Atlanta airport: Tourists are rethinking their US travel plans.
    Shutterstock

    While the Flight Centre statement used careful language, its chief executive Graham Turner was clear, saying:

    People from Europe, the United Kingdom and Australia really don’t want to go to the States, given what’s happening there. We’re hearing more and more people don’t want to go through passport control.

    Reports of tourists being detained, shackled and deported at US airports over minor alleged visa issues or misunderstandings have circulated widely. In some cases, visitors have had their phones and electronic devices searched without clear cause. For many travellers, that is a risk not worth taking.

    Governments have started to respond. Several countries, including New Zealand, Germany, France, Denmark and Finland, have updated their official travel advice for the US, urging citizens to exercise caution when visiting. The message filtering through international media is clear: the US is not as easy, safe or welcoming as it once seemed.

    But while diplomatic warnings grow louder, the economic costs of America’s hardening stance are only beginning to register.

    Tourism: America’s forgotten export

    While President Donald Trump has slapped tariffs on goods imports from most countries, he has ignored the contribution of services trade to the economy. The US actually runs a surplus in services such as education and tourism. Trump has dismissed the decline in visitors as “not a big deal”.

    The trade wars have focused on goods – cars, steel, farm products – but the service sector, which makes up a larger share of the economy, bears the hidden costs.

    Tourism is the US’ biggest service export, contributing more than US$2.3 trillion to the economy and one in ten jobs. That’s a bigger contribution than manufacturing jobs, which account for about 8% of total US employment.

    As a driver of economic prosperity, tourism isn’t simply about leisure; it sustains local businesses, rural economies and millions of livelihoods.

    A double blow to the tourism experience

    While the decline in arrivals has been widely reported, the experience for those who still choose to visit is also likely to change.

    Tourism relies on global supply chains, from food to hotel amenities to rental car fleets. Trade war tariffs have raised input costs across the board. Hotels, restaurants, airlines and attractions are passing those higher costs onto customers.

    Miami Beach, Florida: Tourism accounts for one in ten American jobs.
    MDV Edwards/Shutterstock

    Labour shortages are intensifying the problem. Nearly 20% of the US hospitality workforce was born overseas. Cuts to seasonal work visas and heightened deportation fears have left many businesses struggling to find staff, compounding existing labour shortages.

    The burden is heaviest on small- and medium-sized enterprises, which form the bedrock of the US economy and play a central role in accommodation, dining and local tourism experiences.

    A quiet but costly erosion

    Tourism is not just a big part of the economy; it’s also a soft power, shaping how the world perceives a nation through its culture, values and hospitality.

    Every visitor who feels unwelcome, scrutinised or disappointed is not just a lost sale, but a lost connection.

    Research group Tourism Economics forecasts the US could lose up to US$10 billion in international travel spending in 2025 if current trends continue.

    And while manufacturing job announcements grab headlines, the slow erosion of America’s tourism brand may leave a longer, deeper scar on its culture, its communities and its place in the world.

    The Flight Centre downgrade is not an isolated warning. It is a symptom of a broader shift, one that risks turning visitors away for good.

    And for thousands of US businesses, workers and communities – and now Australian ones too – the losses may not be so easily shrugged off.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. Tourism to the US is tanking. Flight Centre is facing a $100m hit as a result – https://theconversation.com/tourism-to-the-us-is-tanking-flight-centre-is-facing-a-100m-hit-as-a-result-255498

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: WeTrade Announces Launch of Two Hundred Thousand Dollar Trading Blitz Race 2025 – Live Competition Starting 1 May

    Source: GlobeNewswire (MIL-OSI)

    LIMASSOL, Cyprus, May 01, 2025 (GLOBE NEWSWIRE) — WeTrade, the award-winning global trading platform, today announced the launch of its Trading Blitz Race 2025 – Live competition with a $200,000 prize pool. The premier trading event follows the platform’s highly successful demo competition which saw participation from thousands of traders worldwide.

    Running from 1 May to 31 July 2025, the live competition will see the grand champion taking home $100,000, with the rest of the top 10 traders sharing substantial rewards. Additionally, there are weekly prizes of $2,000 for two categories: highest weekly profit ($1,000) and largest trading volume ($1,000). To participate, traders must have a minimum equity of $500 and no open positions at the time of registration.  

    A standout feature of this year’s competition is the introduction of free real-time copy trading. While only registered participants can compete, all non-participating traders can follow the strategies of the top 20 traders in real time, without any subscription or profit-sharing fees. 

    “We are thrilled to bring this competition to life after the incredible performance and enthusiasm seen in our demo event,” said George Miltiadou, Group CEO of WeTrade. “This competition is the next step in giving our global trading community a world-class platform to shine.”

    Thanks to WeTrade’s award-winning platform, competitors of the Trading Blitz Race 2025 – Live will have the edge with razor-thin spreads from 0.0 pips, flexible leverage up to 1:2000, and swap-free options. With lightning-fast execution, all traders, from beginners to seasoned pros, can seize market opportunities with confidence and speed. 

    As WeTrade prepares to celebrate its 10th anniversary later this year, Miltiadou said the company will continue to support excellence, whether on the trading floor or the racetrack. “Just as we push boundaries in the world of motorsport with Phantom Global Racing, we are excited to offer a global stage for traders to rise to the top and demonstrate their skills. As we celebrate a decade of excellence, this is the moment for both rising stars and seasoned pros to show the world what they’re made of.” 

    WeTrade plans to expand its competition series and educational initiatives, empowering more traders to succeed in global markets. 

    To learn more or register for the Trading Blitz Race 2025 – Live, please visit https://bit.ly/3EEwhtU 

    About WeTrade  

    WeTrade is a globally recognised financial broker, founded in 2015, offering innovative online trading services across a diverse range of CFD instruments. Known for its commitment to excellence, WeTrade provides ultra-low spreads, flexible leverage options, and strong capital security, earning it prestigious awards such as Most Trusted Broker and Best Loyalty Program Broker. Its exclusive programmes include WeTrade Honours, a premium membership with high-value benefits; WeTrade Rewards, a pioneering loyalty programme; and WeTrade Wallet, a reward-generating storage fund. At WeTrade, trading is designed to be both successful and rewarding.  

    Learn more at www.wetradebroker.com or follow us on social media @WeTradeGlobal  

    Company Details
    Organization: WeTrade
    Contact Person Name: CHONG PEI ZHOU
    Website: https://www.wetradebroker.com/
    Email: contactus@wetradebroker.com

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

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/35a5871b-8d61-43a8-b7e8-37140d50d14d

    https://www.globenewswire.com/NewsRoom/AttachmentNg/c1fd74ed-0763-49b0-8d92-2aff62a20c89

    The MIL Network

  • MIL-OSI: Notice of Results

    Source: GlobeNewswire (MIL-OSI)

    Diversified Energy Company PLC
    (“Diversified” or the “Company”)

    Notice of First Quarter 2025 Results Timing

    Diversified Energy Company PLC (LSE: DEC, NYSE: DEC) (“Diversified” or the “Company”) is pleased to announce that the Company plans to publish its Trading Statement for the three months ended March 31, 2025 (the “1Q25 Trading Statement”) on Monday, May 12th, 2025. The Company will host a conference call that day at 1:00 PM GMT (8:00 AM EST) to discuss the 1Q25 Trading Statement and make an audio replay of the event available shortly thereafter.

    Conference Details

    Prior to the event, Diversified will publish the Company’s 1Q25 Trading Statement on its website at https://ir.div.energy/news-events/regulatory-news and make a supplementary presentation available at https://ir.div.energy/presentations.

    For further information, please contact:

    Diversified Energy Company PLC +1 973 856 2757
    Doug Kris dkris@dgoc.com
    Senior Vice President, Investor Relations &
    Corporate Communications
    www.div.energy
       
    FTI Consulting dec@fticonsulting.com
    U.S. & UK Financial Public Relations  
       

    About Diversified Energy Company PLC

    Diversified is a leading publicly traded energy company focused on natural gas and liquids production, transport, marketing, and well retirement. Through our unique differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.

    The MIL Network

  • MIL-OSI Australia: 137-2025: Version 3.0 of the Methyl Bromide Fumigation Methodology is now in force and approved arrangement class conditions have been updated

    Source: New South Wales Government 2

    1 May 2025

    Who does this notice affect?

    Import-related biosecurity treatment stakeholders, including all importers, brokerages, onshore approved arrangement holders, overseas government and industry treatment providers, relevant domestic state and territory government agencies, and other shipping, freight, and logistics peak industry bodies.

    What has changed?

    Methyl Bromide Fumigation Methodology (version 3.0)

    Version 3.0 of the  Methyl…

    MIL OSI News

  • MIL-OSI New Zealand: Pest eradication to remove wallabies and possums from Kawau Island gets under way

    Source: Auckland Council

    Auckland Council has been working with landowners and residents on an operation to restore native forest on Kawau Island by removing wallabies and possums. After years of planning and preparation, the first stage of the project, Working towards a pest-free Kawau Island, is now under way.

    The project is a ground-based operation, primarily carried out by hunters, trained indicator dogs and thermal drones. Subject to permit approval and necessity, targeted toxins are proposed to be used in a second phase of the project to support hunting in areas where monitoring has revealed a high number of wallabies and possums.  

    The first stage will begin at the southern end of the island, targeting pest populations in that area before moving to the northern side. The entire programme is expected to take 18 months, with monitoring continuing for a further six months.

    From 1 May 2025, hunting will start in the public conservation land of Kawau Island Historic Reserve and nearby private properties (block 1 in the map below), targeting wallabies and possums.

    A map of Kawau Island showing the treatment areas.

    Towards a pest-free Kawau Island

    The complete removal of pest animal species, starting with wallabies and possums, will make Kawau Island one of the largest inhabited pest-free islands in New Zealand –and a legacy for generations to come.

    This collaborative environmental programme is part of the Auckland Regional Pest Management Plan 2020-2030, and works with, and builds on, the Pohutukawa Trust’s conservation efforts by seeking to eradicate mammalian pest species from Kawau Island to benefit nature, residents and visitors.

    Auckland Council is working in partnership with Manuhiri Kaitiaki Charitable Trust, Department of Conservation, a ground-based delivery consortium led by Island Conservation, as well as actively engaging the island’s community to achieve a pest animal-free Kawau Island.

    The project is collaboratively funded, thanks to Predator Free 2050 Ltd, Auckland Council (through the Natural Environment Targeted Rate), the Ministry for Primary Industries (through the Tipu Mātoro National Wallaby Eradication Programme), Department of Conservation and the Kawau community.

    “This project wouldn’t be possible without our project funders, including landowners and residents of the island. We’ve seen generous donations and pledges through the New Zealand Nature Fund by the Kawau Island community. We know landowners, residents and those who frequent Kawau Island are invested in this project, the decisions we make and the outcomes,” says Samantha Hill, Auckland Council General Manager, Environmental Services.

    “We will continue to engage with user groups, landowners, occupiers and stakeholders about the operation. We are also working closely with our iwi partner, Ngāti Manuhiri and agencies like the Department of Conservation and the Ministry of Health.”

    The impact of introduced pest animals

    A large island, Kawau has an extensive canopy of native forest. It is home to threatened and at-risk indigenous species including the North Island weka, kororā/little blue penguin and pāteke/brown teal, as well as many other species of shore and forest birds, including the North Island brown kiwi and kākā.

    “Browsing species like possums and wallabies put pressure on our forests which, if left unmanaged, can lead to long-term damage and changes to the natural environment. This is especially evident on Kawau Island, where the selective browsing of wallabies and possums has changed the forest composition, increased fire risk and destroyed potential habitats and food sources for indigenous species,” explains Samantha Hill.“

    “Additionally, Kawau Island continues to be the only place where wallabies are found in Tāmaki Makaurau and their continued presence is a biosecurity risk to primary industry and the natural environment in mainland Auckland and Northland,” she says.

    “A successful programme will enable the forest to recover, potentially attracting new species from nearby pest-free islands and sanctuaries. It will also allow us to preserve habitats for threatened and at-risk species that make Kawau unique.”

    Important information

    • Stage one of the programme begins on 1 May and involves hunting.
    • Residents and visitors to the island should follow all warning signage.

    Signage will be in place during the operation and will remain for the duration of the caution period. For more information on the Working towards a pest-free Kawau Island project, including FAQs and further factsheets, please visit the project website or phone us on 09 301 0101. To support this project and ongoing conservation efforts, visit New Zealand Nature Fund.

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Pacific enforcement agencies welcome new detector dog teams

    Source: New Zealand Police (National News)

    Police Commissioner Richard Chambers has acknowledged nine new Detector Dog Handlers and their dogs from across the Pacific and New Zealand who graduated at the Dog Training Centre in Trentham this afternoon.

    The teams celebrated the occasion in front of whānau and friends, executives from New Zealand Police with officials from the New Zealand Customs Service, Aviation Security Service New Zealand, and New Caledonia Customs.

    Commissioner Chambers, who is currently in the Pacific meeting local police leaders, congratulated them all on their achievements.

    “Our New Zealand and Pacific Detector Dog teams play a crucial role in all kinds of policing, at our borders and within our communities.

    “They are remarkable at what they do in detecting cash, firearms, and narcotics and some detecting explosives.

    “These graduates have worked hard to obtain this operational qualification, and they’ll keep learning and developing with experience and time on the street and at their borders.”

    Today’s graduates are from Customs agencies in New Zealand, Samoa, New Caledonia, and Fiji with one dog team bound for New Zealand’s Aviation Security Service.

    The police graduates are from New Zealand, Tonga and for the first time ever, a policewoman has graduated as a dog-handler from the Fiji Police Force.

    They will be welcomed into their various roles in the Pacific, and around New Zealand, very shortly,” says Commissioner Chambers.

    Customs Deputy Chief Executive International and Governance, Joe Cannon, highlighted the importance of this long-running Pacific Detector Dog Programme and its role in building ongoing enforcement capability in the Pacific region.

    “Detector dogs are a valuable enforcement tool in combating transnational and serious and organised crime syndicates who continue to target Pacific countries.  We know that where there are illicit goods, there is criminal activity – and detector dogs are trained to help track them down.

    “For us in New Zealand and our partners in the Pacific, having this additional capability puts us all in a better position to defend our borders. 

    This programme also highlights what can be achieved when countries and agencies work toward a common goal, which in this instance is protecting our borders and keeping our communities safe.”

    Inspector Todd Southall, National Coordinator Police Dogs and Manager of the Pacific Detector Dog Programme says, “These incredible dogs are trained to detect drugs, explosives, firearms and cash and it’s a proud day for all teams, both experienced and new when they qualify.”

    “This ceremony marks the end of a demanding few weeks training to become an operational team. It takes patience and perseverance to get through the training programme.

    “There is high demand for detector dog teams across the Pacific, so planning will continue as we manage more courses throughout the year.

    “In the meantime, best wishes to all our new teams as they begin their operational lives in New Zealand and throughout the Pacific,” says Todd.

    Established in 2018, the Pacific Detector Dog Programme (PDDP) is jointly managed by the New Zealand Police and New Zealand Customs Service. It is funded by New Zealand’s Ministry of Foreign Affairs and Trade.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News

  • MIL-OSI USA: Cortez Masto Joins Bipartisan Effort to Stop President Trump’s Harmful Tariffs, Protect Nevada Businesses

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto

    Washington, D.C. – Today, U.S. Senator Catherine Cortez Masto (D-Nev.) released the following statement after voting to repeal Donald Trump’s reckless, blanket global tariffs that are hurting Nevada small businesses and families. Despite bipartisan support, Senate Republicans blocked the measure.

    “President Trump’s reckless policies are raising costs on hardworking families and threatening Nevada small businesses. While I believe targeted tariffs on our adversaries can be a useful tool to protect American jobs and support our national security, these blanket tariffs do the opposite,” said Senator Cortez Masto. “The president is abusing his power to bypass both Congress and common sense. Today, I joined my colleagues on both sides of the aisle in a vote to rein in Donald Trump, and I’ll continue to fight for our businesses and workers.”

    This resolution received bipartisan support, and if enacted, it would have terminated the emergency that Trump declared, reversed Trump’s new taxes of 10 percent on all imported goods, and ended his threat of additional tariffs of up to 49 percent on products Americans buy from other countries.

    Senator Cortez Masto has continued to push the Trump Administration to address the impacts of Trump’s tariffs on working families and Nevada small businesses. Earlier this month, the Senator wrote a letter to the Administration demanding they provide their plan to mitigate the economic stress caused by the implementation of President Donald Trump’s tariffs and other executive actions. During a Senate Finance Committee hearing, Cortez Masto pressed U.S. Trade Representative Greer about the impacts of President Trump’s blanket tariffs on Nevadans, particularly those employed in the tourism and hospitality industry. The Senator introduced the Tariff Transparency Act to require the U.S. International Trade Commission to publicly investigate how Donald Trump’s recent tariffs on imports from Mexico and Canada will impact the American people.

    MIL OSI USA News