Category: Trade

  • MIL-OSI Africa: Afreximbank Annual Meetings record project preparation deals expected to unlock about US$ 1.0 billion in investments

    Source: APO

    The 32nd Annual Meetings of African Export-Import Bank (Afreximbank) (www.Afreximbank.com), also known as AAM2025, witnessed a flurry of deal signings with four project preparation transactions signed between the Bank and various entities that are expected to unlock investments valued at about US$ 1.0 billion.

    In an agreement signed by Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, for Afreximbank, and Mrs. Temwani Simwaka, CEO, for NBS Bank Plc (NBS), Malawi, the two institutions executed a Joint Project Preparation Facility Framework Agreement under which they will pool resources to provide early project preparatory financing to progress projects in Malawi from pre-feasibility stage to bankability in a timely manner.

    As set out in the agreement, Afreximbank and NBS will support public and private sector investors by availing financing and technical support services to de-risk projects in priority sectors, including energy, transport and logistics, logistical platforms (such as special economic zones and industrial parks), manufacturing, agro-processing, hospitality and tourism, extractives, solid minerals, and services (such as ICT, healthcare, and creative economy). Embedded in the framework agreement is a capacity building programme that will empower NBS staff to undertake project preparation activities in the medium term.

    Afreximbank and NBS expect to bring onstream investments of about US$ 300 million in Malawi in the near term.

    In another transaction, Afreximbank signed a US$ 4.4-million Project Preparation Facility Agreement in favour of Med Aditus Pharmaceutical Kenya Limited. The facility will be deployed to finance the preparation of feasibility and bankability studies towards the development of a state-of-the-art fill and finish pharmaceutical manufacturing plant, with a production capacity of at least two billion tablets and capsules per annum, located in Kibos, Kisumu County, Kenya.

    The project will improve access to quality, affordable life-saving medicines across the Great Lakes region, contributing to better health outcomes in a region that contends with heavy loads of infectious and other diseases. The project will also facilitate medical and manufacturing blockchain technology transfer to Africa, supporting the long-term growth and strengthening the wider region’s health sector. The project preparation facility will bring onstream assets of about US$ 40 million.

    Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, signed the agreement on behalf of Afreximbank while Dr. Dhiren Thakker, Founder and CEO of Med Aditus Pharma, signed for his company.

    Afreximbank also signed a Heads of Terms agreement for a US$4.4-million project preparation facility in favour of Green Hybrid Power Private Limited. The facility will be deployed towards the preparation of bankability and feasibility studies and procurement of transaction advisors for a 1-Gigawatt (GW) hybrid floating solar photovoltaic power system on Lake Kariba, Zimbabwe.

    The project, to be implemented in two phases, includes a pilot phase targeting a generation capacity of 500 MW to be sold wholly to the Intensive Energy Users Group, a consortium of blue-chip industrial and mining energy users in Zimbabwe, under a “take-or-pay” 20-year power purchase agreement with a cost-reflective tariff. The project is expected to supply affordable and reliable power that will support value-addition and beneficiation of Zimbabwe’s minerals, thereby boosting the country’s foreign exchange earnings.

    The project preparation facility will unlock an investment estimated at US$ 350 million.

    Signing the agreement were Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, on behalf of Afreximbank, and Mr. Eddie Cross, Chairman, for Green Hybrid Power Private Limited.

    Afreximbank, in addition, signed a Project Preparation Facility Heads of Terms Agreement of US$ 4.0 million in favour of Proton Energy Limited, a Nigerian independent power producer. The facility will be deployed towards financing the preparation of feasibility studies and procurement of transaction advisory services for the development of a grid-connected gas-fired power plant with a nameplate capacity of 500 MW in Sapele, Nigeria. The project will commence with an initial generation capacity of 150 MW.

    The project will evacuate the electricity generated primarily to Eko Electricity Distribution Company under a 20-year power purchase agreement with a cost-reflective tariff.

    The facility is expected to bring on stream assets estimated at US$ 300 million.

    Signing the agreement were Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, on behalf of Afreximbank, and Mr. Oti Ikomi, Executive Vice Chairman and CEO, for Proton Energy Limited.

    AAM2025 took place from 25 to 28 June and attracted an estimated 8,000 participants, including presidents, prime ministers, ministers and business leaders, from across Africa, the Caribbean and beyond. It ended with the Annual General Meeting of Shareholders where Dr. George Elombi was appointed the next President of the Bank who succeeds Prof. Benedict Oramah whose tenure is ending after two five-year terms in the position.

    Distributed by APO Group on behalf of Afreximbank.

    Media Contact:
    Vincent Musumba
    Communications and Events Manager (Media Relations)
    Email: press@afreximbank.com

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    About Afreximbank:
    African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa2), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.

    For more information, visit: www.Afreximbank.com

    Media files

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    MIL OSI Africa

  • MIL-OSI United Nations: 21 July 2025 Departmental update Partner spotlight: Centre for Pathogen Genomics celebrates two years of partnership with the WHO International Pathogen Surveillance Network

    Source: World Health Organisation

    The Centre for Pathogen Genomics is a leading academic and training hub for infectious diseases genomics in the Asia-Pacific region at the University of Melbourne, based at the Doherty Institute. The Centre’s mission is to build collaborative partnerships to support accessible pathogen genomics globally, through translational research and research training; and also to provide support for genomics-informed infectious disease surveillance and response, through strategy development, capacity building and training.

    As one of the earliest members of the International Pathogen Surveillance Network (IPSN), the Centre has contributed expertise in governance, evaluation, epidemiology, bioinformatics and public health. The ISPN was established in 2023 to help protect people from infectious disease threats through the power of pathogen genomics. By connecting countries and regions, the network will strengthen sample analysis to inform public health decisions and provide a platform for enhanced data sharing.

    The partnership with IPSN has driven new collaborations, linkage with the global genomics community, capacity building and training initiatives, and development of key resources in the IPSN toolkit. Furthermore, the Centre co-hosted the IPSN’s 2024 Global Partners Forum in Bangkok. The event showcased the significant contribution of the ISPN towards improved access to genomics, and promotion of locallyled and globally supported initiatives to enhance genomic surveillance.

    Sustainable Training and Implementation Workshop hosted by the Centre for Pathogen Geonomics and the IPSN in Bangkok, November 2024. More than 70 stakeholders from WHO, donors and funders, regional networks, public health and research institutions across the Asia-Pacific and globally participated in discussions on best practice approaches for harmonized and sustainable public health training and implementation.

    © WHO / Sahawate Suedee, Picturian Production House

    One of the Centre’s key activities with the IPSN has been the development of a Monitoring and Evaluation Tool (M&E) for the IPSN toolkit, Capacity Strengthening Framework for Pathogen Genomics Informed Surveillance Systems. The M&E Tool is aligned with other IPSN tools and resources, and structured to support implementation of WHO’s Global Genomic Surveillance Strategy. It aims to provide countries, funders, and implementers with a standardized approach to systematically assess progress towards implementing the established goals for a public health pathogen genomics surveillance system.

    At the core of the tool is a capacity matrix, which measures progress across different components of pathogen genomics surveillance.  Structured into sections, each contains a series of scored items covering:

    1. genomics-informed surveillance and policy
    2. specimen selection, collection and referral
    3. laboratory workflow
    4. bioinformatics and analysis
    5. reporting and communication
    6. implementation in public health practice.

    The development of this new tool has been a collaborative effort with a number of global leaders in genomics such as the UK Health Security Agency, Robert Koch Institute, The Global Fund to Fight AIDS, Tuberculosis and Malaria, Foundation for Innovative New Diagnostics (FIND), and the Association of Public Health Laboratories (APHL). Each has provided invaluable time, expertise and experience to the M&E Technical Working Group.

    Bacterial genomics sequence training delivered by the Centre at the Medical Research Institute, Sri Lanka as part of the ‘Piloting the application of pathogen genomics for surveillance of food borne and AMR disease’ project awarded in the 1st IPSN Catalytic Grant round (April 2025).

    © Peter Doherty Institute for Infection and Immunity

    “Collaboration is central to everything we do,” said Professor Ben Howden, Co-director of the Centre Pathogen Genomics.  “It drives innovation, fosters meaningful results, and strengthens global impact. Since its inception, the IPSN has been a leading force in expanding outreach, engagement, and partnerships across the genomics community at national, regional, and global levels. We are proud to have supported IPSN in mobilizing global resources, knowledge, and expertise to build more sustainable and resilient global health surveillance systems using pathogen genomics. We extend our congratulations to IPSN on its 2-year Anniversary. The dedication to knowledge sharing, capacity building, and advancing research and public health partnerships have strengthened our collective mission in ensuring equitable and sustainable access to genomic technology, tools, and resources for all. We look forward to another transformative year with the team.”

    Starting mid-2025, the Centre will commence piloting of the M&E Tool with support from the IPSN, and WHO regional and country offices. The purpose of the pilot is to further refine the user experience and improve functionality and applicability of the tool across contexts, through an iterative feedback and improvement process. Importantly, it will demonstrate how the M&E Tool is used across diverse countries, sectors and organizations with varying levels of genomics capacity.

    Sustainable Training and Implementation Workshop: Asia-Pacific held in Bangkok, Thailand and jointly hosted by the Centre for Pathogen Genomics, IPSN and Wellcome Connecting Science (November 2024).

    © WHO / Sahawate Suedee, Picturian Production House

    MIL OSI United Nations News

  • MIL-OSI United Nations: Secretary-General’s remarks to the High-level Political Forum [bilingual as delivered, scroll down for all-English and all-French]

    Source: United Nations secretary general

    This year’s High-Level Political Forum arrives at a time of profound challenge – but also real possibility.

    Despite enormous headwinds, we have seen just in the last two months what can be achieved when countries come together with conviction and focus.

    We saw it in Geneva, where the World Health Assembly adopted the Pandemic Agreement — a vital step toward a safer, more equitable global health architecture.

    We saw it in Nice at the Third UN Ocean Conference, where governments committed to expand marine protected areas and tackle plastic pollution and illegal fishing.

    And we saw it in Sevilla at the Fourth International Financing for Development Conference, where countries agreed on a new vision for global finance — one that expands fiscal space, lowers the cost of capital, and ensures developing countries have a stronger voice and participation in the organizations that shape their future. 

    These are not isolated wins.

    They are signs of momentum.

    Signs that multilateralism can deliver.

    Signs that transformation is not only necessary — it is possible.

    And that is the spirit we bring to this High-Level Political Forum.

    Excellencies, ladies and gentlemen,

    This Forum is about renewing our common promise — to end poverty, protect the planet, and ensure prosperity for all.

    We also recognize the deep linkages between development and peace.

    We meet against the backdrop of global conflicts that are pushing the Sustainable Development Goals further out of reach.

    That’s why we must keep working for peace in the Middle East.

    Over the weekend in Gaza, we saw yet more mass shootings and killings of people seeking UN aid for their families – an atrocious and inhumane act which I utterly condemn.

    We need an immediate ceasefire in Gaza, the immediate release of all hostages, and unimpeded humanitarian access as a first step to achieve the two-State solution.

    We need the ceasefire between Iran and Israel to hold.

    We need a just and lasting peace in Ukraine based on the UN Charter, international law and UN resolutions. 

    We need an end to the horror and bloodshed in Sudan.

    And the list goes on, from the DRC to Somalia, from the Sahel to Myanmar.

    At every step, we know sustainable peace requires sustainable development.

    The Sustainable Development Goals are not a dream.

    They are a plan.

    A plan to keep our promises — to the most vulnerable people, to each other, and to future generations.

    People win when we channel our energy into development.

    Since 2015, millions more people have access to electricity, clean cooking, and the internet.

    Social protection now reaches over half the world’s population — up from just a quarter a decade ago.

    More girls are completing school.

    Child marriage is declining.

    Women’s representation is growing — from the boardrooms of business to the halls of political power.  

    But we must face a tough reality:

    Only 35 per cent of SDG targets are on track or making moderate progress.

    Nearly half are moving too slowly.

    And 18 per cent are going backwards.

    Meanwhile, the global economy is slowing.

    Trade tensions are rising.

    Inequalities are growing.

    Aid budgets are being decimated while military spending soars.

    And mistrust, division and outright conflicts are placing the international problem-solving system under unprecedented strain.

    We cannot sugarcoat these facts. But we must not surrender to them either.

    The SDGs are still within reach — if we act with urgency and ambition.

    This year’s Forum focuses on five critical Goals: health, gender equality, decent work, life below water, and global partnerships.

    All are essential. All are interconnected. All can spur change across other goals.

    On health, COVID-19 exposed and deepened inequalities – and today, far too many people still lack access to basic care.
    We know what works.

    We must boost investment in universal health coverage, rooted in strong primary care and prevention, reaching those furthest behind first.

    On gender equality, gaps remain wide.

    Women and girls face systemic barriers — from violence and discrimination to unpaid care and limited political voice.

    But we also see growing momentum: from grassroots movements to national reforms.

    Now is the time to turn that momentum into transformation — with rights-based policies, accountability, and real financing into programmes that support inclusion and equality for women and girls.

    On decent work, the global economy is leaving billions behind.

    Over 2 billion people are in informal jobs. Youth unemployment is stubbornly high.

    But we have tools to change this.

    The Global Accelerator on Jobs and Social Protection is helping countries invest in expanded social protection initiatives, skills training, and the creation of sustainable livelihoods — including in growing industries like clean energy.

    Tomorrow, I will deliver an address on the enormous opportunities of the renewables revolution.

    The upcoming World Summit on Social Development can help spur further progress.

    Excellencies, ladies and gentlemen,

    On life below water, our ocean and the communities that count on it are paying the price of overfishing, pollution, and climate change.

    We must deliver on the commitments of the Nice Ocean Conference — to protect marine ecosystems and support the millions who depend on them.

    And, finally, on global partnerships — SDG 17 — we need to strengthen all the elements that can support progress.

    This means investing in science, data, and local capacity.

    And harnessing digital innovation — including artificial intelligence — to accelerate progress, not deepen divides.

    Throughout, we must recognize the need to reform the unfair global financial system, which no longer represents today’s world or the challenges faced by developing countries.

    We must ensure a reform for developing countries to have a stronger voice and greater participation to help advance the Sustainable Development Goals on the ground.

    The Sevilla Commitment that emerged from the Conference on Financing for Development includes important steps: 

    Through new domestic and global commitments that can channel public and private finance to the areas of greatest need.

    By increasing the capacity of governments to substantially mobilize domestic resources, including through tax reform.

    And by establishing a more effective framework for debt relief and tripling the lending capacity of multilateral development banks to the benefit of developing countries. 

    Excellences,

    Au cours de l’année à venir, nous devons continuer à construire.

    Nous devons renforcer et élargir les partenariats qui portent leurs fruits – y compris avec le secteur privé et les organisations de la société civile et les pouvoirs locaux. 

    Nous devons faire en sorte que chaque décision s’inscrive dans une réflexion à long terme, comme nous nous y sommes engagés dans la Déclaration sur les générations futures.

    Et nous devons continuer d’apprendre les uns des autres.

    Les Examens nationaux volontaires, qui constituent la clé de voûte de ce forum, sont bien plus que de simples rapports.

    Ce sont des actes de responsabilité.

    Ce sont de véritables parcours d’introspection, que les pays suivent à mesure qu’ils se développent et se construisent.

    Et ce sont des modèles que les autres pays peuvent suivre et dont ils peuvent s’inspirer.

    À la fin de ce forum politique de haut niveau pour le développement durable, nous aurons dépassé les 400 examens, et plus de 150 pays en auront présenté plus d’un.

    Il s’agit là d’un signal fort d’engagement.

    Une preuve indéniable que des solutions existent et qu’elles peuvent être reproduites et étendues.

    À cinq ans de l’échéance, le temps est venu de convertir ces prémices de transformation en un puissant élan de progrès – qui bénéficie à tous les pays.

    Agissons avec détermination, justice et vision.

    Et concrétisons le développement – pour les personnes et pour la planète.

    Je vous remercie.

    ****
    [all-English]

    This year’s High-Level Political Forum arrives at a time of profound challenge – but also real possibility.

    Despite enormous headwinds, we have seen just in the last two months what can be achieved when countries come together with conviction and focus.

    We saw it in Geneva, where the World Health Assembly adopted the Pandemic Agreement — a vital step toward a safer, more equitable global health architecture.

    We saw it in Nice at the Third UN Ocean Conference, where governments committed to expand marine protected areas and tackle plastic pollution and illegal fishing.

    And we saw it in Sevilla at the Fourth International Financing for Development Conference, where countries agreed on a new vision for global finance — one that expands fiscal space, lowers the cost of capital, and ensures developing countries have a stronger voice and participation in the organizations that shape their future.

    These are not isolated wins.

    They are signs of momentum.

    Signs that multilateralism can deliver.

    Signs that transformation is not only necessary — it is possible.

    And that is the spirit we bring to this High-Level Political Forum.

    Excellencies, ladies and gentlemen,

    This Forum is about renewing our common promise — to end poverty, protect the planet, and ensure prosperity for all.

    We also recognize the deep linkages between development and peace.

    We meet against the backdrop of global conflicts that are pushing the Sustainable Development Goals further out of reach.

    That’s why we must keep working for peace in the Middle East.
    Over the weekend in Gaza, we saw yet more mass shootings and killings of people seeking UN aid for their families – an atrocious and inhumane act which I utterly condemn.

    We need an immediate ceasefire in Gaza, the immediate release of all hostages, and unimpeded humanitarian access as a first step to achieve the two-State solution.

    We need the ceasefire between Iran and Israel to hold.

    We need a just and lasting peace in Ukraine based on the UN Charter, international law and UN resolutions. 

    We need an end to the horror and bloodshed in Sudan.

    And the list goes on, from the DRC to Somalia, from the Sahel to Myanmar.

    At every step, we know sustainable peace requires sustainable development.

    The Sustainable Development Goals are not a dream.

    They are a plan.

    A plan to keep our promises — to the most vulnerable people, to each other, and to future generations.

    People win when we channel our energy into development.

    Since 2015, millions more people have access to electricity, clean cooking, and the internet.
    Social protection now reaches over half the world’s population — up from just a quarter a decade ago.

    More girls are completing school.

    Child marriage is declining.

    Women’s representation is growing — from the boardrooms of business to the halls of political power.  

    But we must face a tough reality:

    Only 35 per cent of SDG targets are on track or making moderate progress.

    Nearly half are moving too slowly.

    And 18 per cent are going backwards.

    Meanwhile, the global economy is slowing.
    Trade tensions are rising.

    Inequalities are growing.

    Aid budgets are being decimated while military spending soars.

    And mistrust, division and outright conflicts are placing the international problem-solving system under unprecedented strain.

    We cannot sugarcoat these facts. But we must not surrender to them either.

    The SDGs are still within reach — if we act with urgency and ambition.

    This year’s Forum focuses on five critical Goals: health, gender equality, decent work, life below water, and global partnerships.

    All are essential. All are interconnected. All can spur change across other goals.

    On health, COVID-19 exposed and deepened inequalities – and today, far too many people still lack access to basic care.
    We know what works.

    We must boost investment in universal health coverage, rooted in strong primary care and prevention, reaching those furthest behind first.

    On gender equality, gaps remain wide.

    Women and girls face systemic barriers — from violence and discrimination to unpaid care and limited political voice.

    But we also see growing momentum: from grassroots movements to national reforms.

    Now is the time to turn that momentum into transformation — with rights-based policies, accountability, and real financing into programmes that support inclusion and equality for women and girls.

    On decent work, the global economy is leaving billions behind.

    Over 2 billion people are in informal jobs. Youth unemployment is stubbornly high.

    But we have tools to change this.

    The Global Accelerator on Jobs and Social Protection is helping countries invest in expanded social protection initiatives, skills training, and the creation of sustainable livelihoods — including in growing industries like clean energy.

    Tomorrow, I will deliver an address on the enormous opportunities of the renewables revolution.

    The upcoming World Summit on Social Development can help spur further progress.

    Excellencies, ladies and gentlemen,

    On life below water, our ocean and the communities that count on it are paying the price of overfishing, pollution, and climate change.

    We must deliver on the commitments of the Nice Ocean Conference — to protect marine ecosystems and support the millions who depend on them.

    And, finally, on global partnerships — SDG 17 — we need to strengthen all the elements that can support progress.

    This means investing in science, data, and local capacity.

    And harnessing digital innovation — including artificial intelligence — to accelerate progress, not deepen divides.

    Throughout, we must recognize the need to reform the unfair global financial system, which no longer represents today’s world or the challenges faced by developing countries.

    We must ensure a reform for developing countries to have a stronger voice and greater participation to help advance the Sustainable Development Goals on the ground.

    The Sevilla Commitment that emerged from the Conference on Financing for Development includes important steps: 

    Through new domestic and global commitments that can channel public and private finance to the areas of greatest need.

    By increasing the capacity of governments to substantially mobilize domestic resources, including through tax reform.

    And by establishing a more effective framework for debt relief and tripling the lending capacity of multilateral development banks to the benefit of developing countries. 

    Excellencies,

    In the coming year, we must keep building.

    We must strengthen and scale up partnerships that deliver — including with the private sector and civil society organizations and local authorities. 

    We must embed long-term thinking into every decision, as we committed in the Declaration on Future Generations.

    And we must continue to learn from each other.

    Voluntary National Reviews — the backbone of this Forum — are more than reports.

    They are acts of accountability.

    They are journeys of self-discovery as countries develop and build. 

    And they are templates for other countries to follow and learn from.

    By the end of this HLPF, we will have surpassed 400 reviews — with over 150 countries presenting more than once.

    That is a powerful signal of commitment.

    A clear demonstration that solutions exist and can be replicated and expanded.

    With five years left, it’s time to transform these sparks of transformation into a blaze of progress — for all countries.

    Let us act with determination, justice and direction.

    And let’s deliver on development — for people and for planet. 

    Thank you.

    [all-French]

    Cette année, le forum politique de haut niveau pour le développement durable se tient à une période marquée par de profondes remises en question, mais également par de réelles perspectives.

    Malgré de très puissants vents contraires, nous avons vu, ces deux derniers mois, ce qu’il est possible d’accomplir lorsque les pays s’unissent avec conviction et détermination.

    Nous l’avons vu à Genève, où l’Assemblée mondiale de la Santé a adopté l’Accord sur les pandémies, étape essentielle vers l’établissement d’une architecture mondiale de la santé plus sûre et plus équitable.

    Nous l’avons vu à Nice lors de la troisième Conférence des Nations Unies sur l’océan, où les gouvernements se sont engagés à étendre les aires marines protégées et à lutter contre la pollution plastique et la pêche illicite.

    Nous l’avons vu à Séville lors de la quatrième Conférence internationale sur le financement du développement, où les pays se sont mis d’accord sur une nouvelle conception de ce que doit être le financement mondial : une conception qui donne une plus grande marge de manœuvre budgétaire, qui réduise le coût du capital et qui permette aux pays en développement de mieux se faire entendre et la participation aux organisations qui partagent leur avenir.

    Ce ne sont pas là que des victoires isolées.

    Ce sont des signes qu’une dynamique se crée.

    Des signes que le multilatéralisme peut fonctionner.

    Des signes que, mieux que nécessaire, la transformation est possible.

    Et c’est l’esprit dans lequel nous abordons ce forum politique de haut niveau.

    Excellences,
    Mesdames et Messieurs,

    Le but de cette édition du forum est de renouveler l’engagement que nous avons pris ensemble : celui d’éliminer la pauvreté, protéger la planète et garantir la prospérité pour tous et toutes.

    Et nous sommes bien conscients des liens étroits qui existent entre le développement et la paix.

    Nous nous réunissons aujourd’hui dans le contexte de conflits mondiaux qui mettent les objectifs de développement durable encore plus hors de portée.

    C’est pourquoi nous devons continuer d’œuvrer à la paix au Moyen-Orient.

    Au cours du week-end à Gaza, nous avons assisté à de nouvelles fusillades et à de nouveaux meurtres de personnes cherchant l’aide de l’ONU pour leurs familles – un acte atroce et inhumain que je condamne catégoriquement.

    La solution des deux États doit se réaliser, mais pour cela, à titre préliminaire, il nous faut un cessez-le-feu immédiat à Gaza, une libération immédiate de tous les otages et un accès humanitaire sans entrave.

    Le cessez-le-feu entre l’Iran et Israël doit tenir.

    Il nous faut une paix juste et durable en Ukraine – une paix fondée sur la Charte des Nations Unies, le droit international et les résolutions des organes des Nations Unies.

    L’horreur et le bain de sang doivent cesser au Soudan.

    Au Soudan comme en RDC, en Somalie, au Sahel ou au Myanmar – et la liste est encore longue.

    Et toujours, nous devons nous souvenir qu’il n’y a pas de paix durable sans développement durable.

    Les objectifs de développement durable ne sont pas qu’un idéal.

    Ils portent tout un projet.

    Un projet qui doit nous aider à tenir nos promesses : les promesses faites aux personnes les plus vulnérables, celles que nous nous sommes faites mutuellement et celles que nous avons faites aux générations futures.

    Tout le monde est gagnant lorsque nous appliquons notre énergie au développement.

    Depuis 2015, des millions de personnes supplémentaires ont accès à l’électricité, à des solutions de cuisson propre et à Internet.

    Plus de la moitié de la population mondiale bénéficie désormais de la protection sociale ; ce n’était le cas que d’un quart de la population il y a dix ans.

    Davantage de filles achèvent leur scolarité.

    Les mariages d’enfants sont en baisse.

    Les femmes sont de plus en plus représentées, que ce soit dans les conseils d’administration des entreprises ou dans les sphères du pouvoir politique.

    Pourtant, nous devons reconnaître une dure réalité :

    Seuls 35 % des cibles des objectifs de développement durable sont en voie d’être atteints, ou du moins, enregistrent des progrès modérés dans ce sens.

    Ces progrès sont trop lents pour près de la moitié des cibles.

    Et c’est un recul qui est enregistré pour 18 % d’entre elles.

    Pendant ce temps, l’économie mondiale ralentit.

    Les tensions commerciales s’accentuent.

    Les inégalités augmentent.

    Les budgets consacrés à l’aide sont amputés alors que les dépenses militaires explosent.

    Et, comme jamais, la défiance, les divisions et les conflits ouverts mettent le système international de règlement des problèmes à rude épreuve.

    Cette réalité ne peut être édulcorée, mais elle ne doit pas nous faire fléchir.

    Nous pouvons toujours atteindre les objectifs de développement durable, si nous agissons de toute urgence et avec ambition.

    Cette année, le forum porte sur cinq objectifs fondamentaux : la santé, l’égalité des sexes, le travail décent, la vie aquatique et les partenariats mondiaux.

    Tous sont essentiels. Tous sont interdépendants. Tous sont porteurs de changement dans des domaines relevant d’autres objectifs.

    En ce qui concerne la santé, la COVID-19 a révélé et aggravé les inégalités, et aujourd’hui, beaucoup trop de personnes n’ont toujours pas accès aux soins de base.

    Nous savons ce qui fonctionne.

    Nous devons intensifier les investissements en faveur d’une couverture sanitaire universelle fondée sur un système solide de soins primaires et de prévention, qui servirait en premier lieu les personnes les plus laissées-pour-compte.

    En ce qui concerne l’égalité des sexes, le fossé reste immense.

    Les femmes et les filles se heurtent à des obstacles systémiques, qui vont de la violence et de la discrimination aux travaux domestiques non rémunérés et à un manque de représentation sur la scène politique.

    Nous assistons toutefois également à l’amorce d’une nouvelle dynamique, dans les mouvements locaux, les réformes nationales.

    Le moment est venu de transformer cette dynamique en véritable transformation, en faisant en sorte que des politiques fondées sur les droits, des dispositifs de responsabilité effective et des financements concrets soient mis au service de programmes qui favorisent l’inclusion et l’égalité pour les femmes et les filles.

    En ce qui concerne le travail décent, des milliards de personnes ne profitent pas de l’économie mondiale.

    Elles sont plus de 2 milliards à occuper des emplois informels. Le chômage des jeunes est obstinément élevé.

    Mais nous disposons d’outils pour changer la donne.

    L’Accélérateur mondial pour l’emploi et la protection sociale aide les pays à investir dans des initiatives de protection sociale élargies, dans la formation professionnelle et dans la création de moyens de subsistance durables, notamment dans des secteurs en forte croissance tels que les énergies propres.

    Demain, je prononcerai un discours sur l’immense potentiel que recèle la révolution des énergies renouvelables.

    Le prochain Sommet mondial pour le développement social peut aussi contribuer à accélérer les progrès.

    Excellences, mesdames et messieurs

    En ce qui concerne la vie aquatique, notre océan et les populations qui en dépendent paient le prix de la surpêche, de la pollution et des changements climatiques.

    Nous devons honorer les engagements qui ont été pris lors de la Conférence de Nice sur l’océan, à savoir protéger les écosystèmes marins et soutenir les millions de personnes qui en sont tributaires.

    Enfin, en ce qui concerne les partenariats mondiaux (l’objectif de développement durable no 17), nous devons consolider tous les facteurs de progrès potentiels.

    Autrement dit, il faut investir dans la science, les données et les capacités locales.

    Et exploiter l’innovation numérique – notamment l’intelligence artificielle – pour accélérer le progrès, et non creuser la fracture.

    Ce faisant, nous devons tenir compte de la nécessité de réformer le système financier mondial : un système inéquitable qui n’est plus représentatif du monde d’aujourd’hui ni des problématiques auxquelles font face les pays en développement.

    Nous devons mettre en œuvre une réforme permettant aux pays en développement de mieux se faire entendre et de participer davantage à la réalisation des Objectifs de développement durable sur le terrain.

    L’Engagement de Séville, adopté à l’occasion de la Conférence sur le financement du développement, prévoit un certain nombre de mesures majeures vers :
     

    • de nouveaux engagements nationaux et mondiaux susceptibles de diriger les financements publics et privés vers les secteurs où les besoins sont les plus importants ;
    • un renforcement de la capacité des États à mobiliser des ressources nationales en grandes quantités, notamment au moyen d’une réforme fiscale ;
    • une réforme de l’architecture financière mondiale, visant à permettre aux pays en développement, qui comptent sur ce système pour mieux servir et soutenir leurs populations, de mieux se faire entendre et de participer davantage ;
    • l’établissement d’un cadre plus efficace pour l’allégement de la dette et le triplement des capacités de prêt des banques multilatérales de développement au profit des pays en développement.

    Excellences,

    Au cours de l’année à venir, nous devons continuer à construire.

    Nous devons renforcer et élargir les partenariats qui portent leurs fruits – y compris avec le secteur privé et les organisations de la société civile et les pouvoirs locaux.

    Nous devons faire en sorte que chaque décision s’inscrive dans une réflexion à long terme, comme nous nous y sommes engagés dans la Déclaration sur les générations futures.

    Et nous devons continuer d’apprendre les uns des autres.

    Les Examens nationaux volontaires, qui constituent la clé de voûte de ce forum, sont bien plus que de simples rapports.

    Ce sont des actes de responsabilité.

    Ce sont de véritables parcours d’introspection, que les pays suivent à mesure qu’ils se développent et se construisent.

    Et ce sont des modèles que les autres pays peuvent suivre et dont ils peuvent s’inspirer.

    À la fin de ce forum politique de haut niveau pour le développement durable, nous aurons dépassé les 400 examens, et plus de 150 pays en auront présenté plus d’un.

    Il s’agit là d’un signal fort d’engagement.

    Une preuve indéniable que des solutions existent et qu’elles peuvent être reproduites et étendues.

    À cinq ans de l’échéance, le temps est venu de convertir ces prémices de transformation en un puissant élan de progrès – qui bénéficie à tous les pays.

    Agissons avec détermination, justice et vision.

    Et concrétisons le développement – pour les personnes et pour la planète.

    Je vous remercie.

    MIL OSI United Nations News

  • MIL-Evening Report: Why has a bill to relax NZ foreign investment rules had so little scrutiny?

    ANALYSIS: By Jane Kelsey, University of Auckland, Waipapa Taumata Rau

    While public attention has been focused on the domestic fast-track consenting process for infrastructure and mining, Associate Minister of Finance David Seymour has been pushing through another fast-track process — this time for foreign investment in New Zealand.

    But it has had almost no public scrutiny.

    If the Overseas Investment (National Interest Test and Other Matters) Amendment Bill becomes law, it could have far-reaching consequences. Public submissions on the bill close tomorrow.

    A product of the ACT-National coalition agreement, the bill commits to amend the Overseas Investment Act 2005 “to limit ministerial decision making to national security concerns and make such decision making more timely”.

    There are valid concerns that piecemeal reforms to the current act have made it complex and unwieldy. But the new bill is equally convoluted and would significantly reduce effective scrutiny of foreign investments — especially in forestry.

    A three-step test
    Step one of a three-step process set out in the bill gives the regulator — the Overseas Investment Office which sits within Land Information NZ — 15 days to decide whether a proposed investment would be a risk to New Zealand’s “national interest”.

    If they don’t perceive a risk, or that initial assessment is not completed in time, the application is automatically approved.

    Transactions involving fisheries quotas and various land categories, or any other applications the regulator identifies, would require a “national interest” assessment under stage two.

    These would be assessed against a “ministerial letter” that sets out the government’s general policy and preferred approach to conducting the assessment, including any conditions on approvals.

    Other mandatory factors to be considered in the second stage include the act’s new “purpose” to increase economic opportunity through “timely consent” of less sensitive investments. The new test would allow scrutiny of the character and capability of the investor to be omitted altogether.

    If the regulator considers the national interest test is not met, or the transaction is “contrary to the national interest”, the minister of finance then makes a decision based on their assessment of those factors.

    Inadequate regulatory process
    Seymour has blamed the current screening regime for low volumes of foreign investment. But Treasury’s 2024 regulatory impact statement on the proposed changes to international investment screening acknowledges many other factors that influence investor decisions.

    Moreover, the Treasury statement acknowledges public views that foreign investment rules should “manage a wide range of risks” and “that there is inherent non-economic value in retaining domestic ownership of certain assets”.

    Treasury officials also recognised a range of other public concerns, including profits going offshore, loss of jobs, and foreign control of iconic businesses.

    The regulatory impact statement did not cover these factors because it was required to consider only the coalition commitment. The Treasury panel reported “notable limitations” on the bill’s quality assurance process.

    A fuller review was “infeasible” because it could not be completed in the time required, and would be broader than necessary to meet the coalition commitment to amend the act in the prescribed way.

    The requirement to implement the bill in this parliamentary term meant the options officials could consider, even within the scope of the coalition agreement, were further limited.

    Time constraints meant “users and key stakeholders have not been consulted”, according to the Treasury statement. Environmental and other risks would have to be managed through other regulations.

    There is no reference to te Tiriti o Waitangi or mana whenua engagement.

    Forestry ‘slash’ after Cyclone Gabrielle in 2023 . . . no need to consider foreign investors’ track records. Image: Getty/The Conversation

    No ‘benefit to NZ’ test
    While the bill largely retains a version of the current screening regime for residential and farm land, it removes existing forestry activities from that definition (but not new forestry on non-forest land). It also removes extraction of water for bottling, or other bulk extraction for human consumption, from special vetting.

    Where sensitive land (such as islands, coastal areas, conservation and wahi tapu land) is not residential or farm land, it would be removed from special screening rules currently applied for land.

    Repeal of the “special forestry test” — which in practice has seen most applications approved, albeit with conditions — means most forestry investments could be fast-tracked.

    There would no longer be a need to consider investors’ track records or apply a “benefit to New Zealand” test. Regulators may or may not be empowered to impose conditions such as replanting or cleaning up slash.

    The official documents don’t explain the rationale for this. But it looks like a win for Regional Development Minister Shane Jones, and was perhaps the price of NZ First’s support.

    It has potentially serious implications for forestry communities affected by climate-related disasters, however. Further weakening scrutiny and investment conditions risks intensifying the already devastating impacts of international forestry companies. Taxpayers and ratepayers pick up the costs while the companies can minimise their taxes and send profits offshore.

    Locked in forever?
    Finally, these changes could be locked in through New Zealand’s free trade agreements. Several such agreements say New Zealand’s investment regime cannot become more restrictive than the 2005 act and its regulations.

    A “ratchet clause” would lock in any further liberalisation through this bill, from which there is no going back.

    However, another annex in those free trade agreements could be interpreted as allowing some flexibility to alter the screening rules and criteria in the future. None of the official documents address this crucial question.

    As an academic expert in this area I am uncertain about the risk.

    But the lack of clarity underlines the problems exemplified in this bill. It is another example of coalition agreements bypassing democratic scrutiny and informed decision making. More public debate and broad analysis is needed on the bill and its implications.

    Dr Jane Kelsey is emeritus professor of law, University of Auckland, Waipapa Taumata Rau. This article is republished from The Conversation under a Creative Commons licence. Read the original article.

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Why has a bill to relax NZ foreign investment rules had so little scrutiny?

    ANALYSIS: By Jane Kelsey, University of Auckland, Waipapa Taumata Rau

    While public attention has been focused on the domestic fast-track consenting process for infrastructure and mining, Associate Minister of Finance David Seymour has been pushing through another fast-track process — this time for foreign investment in New Zealand.

    But it has had almost no public scrutiny.

    If the Overseas Investment (National Interest Test and Other Matters) Amendment Bill becomes law, it could have far-reaching consequences. Public submissions on the bill close tomorrow.

    A product of the ACT-National coalition agreement, the bill commits to amend the Overseas Investment Act 2005 “to limit ministerial decision making to national security concerns and make such decision making more timely”.

    There are valid concerns that piecemeal reforms to the current act have made it complex and unwieldy. But the new bill is equally convoluted and would significantly reduce effective scrutiny of foreign investments — especially in forestry.

    A three-step test
    Step one of a three-step process set out in the bill gives the regulator — the Overseas Investment Office which sits within Land Information NZ — 15 days to decide whether a proposed investment would be a risk to New Zealand’s “national interest”.

    If they don’t perceive a risk, or that initial assessment is not completed in time, the application is automatically approved.

    Transactions involving fisheries quotas and various land categories, or any other applications the regulator identifies, would require a “national interest” assessment under stage two.

    These would be assessed against a “ministerial letter” that sets out the government’s general policy and preferred approach to conducting the assessment, including any conditions on approvals.

    Other mandatory factors to be considered in the second stage include the act’s new “purpose” to increase economic opportunity through “timely consent” of less sensitive investments. The new test would allow scrutiny of the character and capability of the investor to be omitted altogether.

    If the regulator considers the national interest test is not met, or the transaction is “contrary to the national interest”, the minister of finance then makes a decision based on their assessment of those factors.

    Inadequate regulatory process
    Seymour has blamed the current screening regime for low volumes of foreign investment. But Treasury’s 2024 regulatory impact statement on the proposed changes to international investment screening acknowledges many other factors that influence investor decisions.

    Moreover, the Treasury statement acknowledges public views that foreign investment rules should “manage a wide range of risks” and “that there is inherent non-economic value in retaining domestic ownership of certain assets”.

    Treasury officials also recognised a range of other public concerns, including profits going offshore, loss of jobs, and foreign control of iconic businesses.

    The regulatory impact statement did not cover these factors because it was required to consider only the coalition commitment. The Treasury panel reported “notable limitations” on the bill’s quality assurance process.

    A fuller review was “infeasible” because it could not be completed in the time required, and would be broader than necessary to meet the coalition commitment to amend the act in the prescribed way.

    The requirement to implement the bill in this parliamentary term meant the options officials could consider, even within the scope of the coalition agreement, were further limited.

    Time constraints meant “users and key stakeholders have not been consulted”, according to the Treasury statement. Environmental and other risks would have to be managed through other regulations.

    There is no reference to te Tiriti o Waitangi or mana whenua engagement.

    Forestry ‘slash’ after Cyclone Gabrielle in 2023 . . . no need to consider foreign investors’ track records. Image: Getty/The Conversation

    No ‘benefit to NZ’ test
    While the bill largely retains a version of the current screening regime for residential and farm land, it removes existing forestry activities from that definition (but not new forestry on non-forest land). It also removes extraction of water for bottling, or other bulk extraction for human consumption, from special vetting.

    Where sensitive land (such as islands, coastal areas, conservation and wahi tapu land) is not residential or farm land, it would be removed from special screening rules currently applied for land.

    Repeal of the “special forestry test” — which in practice has seen most applications approved, albeit with conditions — means most forestry investments could be fast-tracked.

    There would no longer be a need to consider investors’ track records or apply a “benefit to New Zealand” test. Regulators may or may not be empowered to impose conditions such as replanting or cleaning up slash.

    The official documents don’t explain the rationale for this. But it looks like a win for Regional Development Minister Shane Jones, and was perhaps the price of NZ First’s support.

    It has potentially serious implications for forestry communities affected by climate-related disasters, however. Further weakening scrutiny and investment conditions risks intensifying the already devastating impacts of international forestry companies. Taxpayers and ratepayers pick up the costs while the companies can minimise their taxes and send profits offshore.

    Locked in forever?
    Finally, these changes could be locked in through New Zealand’s free trade agreements. Several such agreements say New Zealand’s investment regime cannot become more restrictive than the 2005 act and its regulations.

    A “ratchet clause” would lock in any further liberalisation through this bill, from which there is no going back.

    However, another annex in those free trade agreements could be interpreted as allowing some flexibility to alter the screening rules and criteria in the future. None of the official documents address this crucial question.

    As an academic expert in this area I am uncertain about the risk.

    But the lack of clarity underlines the problems exemplified in this bill. It is another example of coalition agreements bypassing democratic scrutiny and informed decision making. More public debate and broad analysis is needed on the bill and its implications.

    Dr Jane Kelsey is emeritus professor of law, University of Auckland, Waipapa Taumata Rau. This article is republished from The Conversation under a Creative Commons licence. Read the original article.

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI United Kingdom: Tough new laws to make online marketplaces safer

    Source: United Kingdom – Executive Government & Departments

    Press release

    Tough new laws to make online marketplaces safer

    New laws to make online marketplaces safer and protect the public from dangerous products

    Person using computer with caption reading making online marketplaces safer

    • As part of the Plan for Change the Government is taking action to protect customers ensuring online marketplaces are held to same high standards as bricks and mortar stores 
    • Landmark Product Regulation and Metrology Act boosts powers to tackle unsafe products sold online
    • Measures aimed to hold online marketplaces to account and help with growing safety concerns over fires caused by lithium-ion batteries, and e-bikes 

    Tougher powers to make online marketplaces safer and protect the public from dangerous products as part of the Government’s Plan for Change, have moved a step closer following Royal Assent of the Product Regulation and Metrology Act.  

    The new legislation will provide powers to target new and emerging dangers and hold online marketplaces to account for dangerous products sold through their platforms, creating a level playing field with bricks and mortar stores.

    The rising popularity of e-bikes and e-scooters has brought with it an increase in safety incidents – the Office for Product Safety and Standards in 2024 received reports on 211 fires involving e-bikes or e-scooters – equivalent to a fire every 1.7 days.

    Most of these reports (175) were from London Fire Brigade, and many were caused by unsafe lithium-ion batteries purchased through online marketplaces.  

    To help address the sale of unsafe products like these by online marketplaces, the Government intends to introduce requirements for online marketplaces at the earliest opportunity to update their responsibilities. 

    These will create a proportionate regulatory framework where online marketplaces are expected to:

    • prevent unsafe products from being made available to consumers
    • ensure that sellers operating on their platform comply with product safety obligations
    • provide relevant information to consumers;
    • and cooperate closely with regulators. 

    Product Safety Minister Justin Madders said: 

    By giving regulators the teeth to clamp down on unsafe products, we’re ensuring people can shop with confidence whether online or on the high street. 

    This will establish a level playing field and mean online marketplaces are held to the same high standards as bricks and mortar shops, ensuring we back businesses and protect consumers as part of our Plan for Change.

    The new measures will ensure clarity for the approximately 300,000 UK businesses operating in regulated product markets with a combined estimated turnover of £490 billion. 

    The Office for Product Safety and Standards will continue its targeted programme to tackle dangerous products, including the threats from button batteries and small magnets, and building on successful initiatives like the “Buy Safe, Be Safe” campaign launched last October and recent guidelines on lithium-ion battery safety introduced in December. 

    This balanced approach protects consumers while supporting economic growth across all nations of the UK. 

    Rocio Concha, Which? Director of Policy and Advocacy, said:  

    Which? has campaigned for years to hold online marketplaces to the same standards as high street retailers. For too long, consumers have been exposed to dangerous – and in some cases lethal – products.  

    The Product Regulation and Metrology Act has the potential to be a game changer for consumer safety. It paves the way for new laws to clarify and strengthen responsibilities for online marketplaces, which is crucial in the fight against the sale of dangerous products online.  

    Following the bill’s Royal Assent, the government must act fast to tighten definitions of online marketplaces, introduce a clear duty so that online marketplaces are accountable for product safety, and empower regulators to issue heavy fines for those that fall short of the required standards.

    London Fire Brigade Deputy Commissioner Charlie Pugsley said:  

    We are pleased that the Product Regulation and Metrology Bill (PRAM) has been granted Royal Assent.

    London Fire Brigade sees one e-bike or e-scooter fire every two days and we have long called for regulation to improve product safety and safeguards on online marketplaces to protect people from buying dangerous products that pose a fire risk. 

    We welcome this new piece of legislation, which will better regulate unsafe products being sold and help to protect the public from unsafe products and particularly poor quality or non-compliant lithium battery products, which can present unique fire safety challenges. 

    John Herriman, Chief Executive at the Chartered Trading Standards Institute, said: 

    Alongside the coalition, which included the British Toy and Hobby Association and Electrical Safety First, we welcome the Product Regulation and Metrology Bill gaining Royal Assent as a positive step forward in ensuring the UK maintains strong, modern protections for consumers.  

    This legislation supports the vital work Trading Standards does in keeping unsafe and non-compliant products off the market, creating a fairer and safer trading environment for businesses and consumers alike. We look forward to working closely with government and stakeholders to ensure that the laws that follow, after further consultation, are implemented effectively and contributes to a robust, future-facing regulatory system that will support economic growth in the UK.

    Updates to this page

    Published 21 July 2025

    MIL OSI United Kingdom

  • MIL-OSI USA: Gosar Secures Reauthorization and Expansion of RECA for Mohave County, Arizona, Votes in Favor of the One Big Beautiful Bill

    Source: United States House of Representatives – Congressman Paul A Gosar DDS (AZ-04)

    Washington, D.C. — Congressman Paul A. Gosar, D.D.S. (AZ-09), issued the following statement after voting in favor of passage of H.R. 1, the One Big Beautiful Bill Act: 

    “I am very pleased to have once again voted in favor of President Trump’s One Big Beautiful Bill, legislation that provides historic tax relief to middle-class Americans, reigns in wasteful spending, restores fiscal sanity and slashes the deficit by more than $2 trillion by enacting policies that will fuel America’s economic growth.

    Importantly, the One Big Beautiful Bill delivers for all Arizonans.  

    First and foremost, I am especially pleased that the One Big Beautiful Bill includes my legislation reauthorizing the Radiation Exposure Compensation Act (RECA) and corrects an administrative oversight in the RECA Act of 1990 that arbitrarily excluded areas of Mohave County, Arizona.  Atomic weapons testing conducted during the Cold War came with a heavy cost to Americans living in Arizona, Nevada and within tribal communities.  Since first being elected to Congress, I have worked tirelessly to ensure that RECA not only be reauthorized but also expanded so that every person, known as a “downwinder,” who developed cancer or other related illnesses after being exposed to radiation from atomic weapons testing at the Nevada Test Site deserves to be compensated for being poisoned by a negligent federal government.  

    Second, the One Big Beautiful Bill includes my legislation boosting solar and wind power on publiclands to help lower energy prices, unlock energy production and meet our nation’s growing energy demand.  It also ensures revenue from their development is shared with the states and counties while also supporting conservation programs where these projects are located.  

    Third, a typical Arizona family with two children will see their take-home pay increase between $7,500 and $12,800.  Without this legislation, families across my district were on track to face a massive tax hike on December 31, 2025. The bill also eliminates taxes on tips and overtime and slashes taxes on Social Security for seniors.  The bill also raises the child tax credit, increases childcare tax credits and establishes $1,000 savings accounts for newborn babies to support growth and advancement while helping ease the burden on families.

    Next, the bill provides historic investments to strengthen our nation’s border security by fully funding President Trump’s border wall and giving Border Patrol and ICE agents the resources, technology, and personnel they need to swiftly detain and deport the millions of illegal aliens welcomed into our country by Joe Biden.  As a border state, Arizonans have felt firsthand the destruction caused by Biden’s open border policies. Crime has ravaged our neighborhoods, deadly drugs, including fentanyl, have ruined our families, and our communities are withering under the economic strain on public resources needed to combat Biden’s border invasion.

    The One Big Beautiful Bill delivers for Arizonans, upholds the promise to secure the border, locks in permanent tax relief, unleashes American energy and reverses course on out-of-control spending by securing the largest spending reductions in American history. These are transformational policies that support all Americans for generations and were delivered by a Republican majority in Congress that listened.  I look forward to President Trump signing the One Big Beautiful Bill into law,” concluded Congressman Paul Gosar.

    MIL OSI USA News

  • MIL-OSI Asia-Pac: HKETO Berlin sponsors 17th International Dragon Boat Federation World Dragon Boat Racing Championships held in Germany (with photos)

    Source: Hong Kong Government special administrative region

    The Hong Kong Economic and Trade Office in Berlin (HKETO Berlin) sponsored the 17th International Dragon Boat Federation World Dragon Boat Racing Championships (IDBF World Championships) held in Brandenburg an der Havel, Germany, from July 14 to 20 (Berlin time).

    The one-week competition brought together over 4 000 athletes from 33 countries and regions, showcasing the global appeal of dragon boat racing.  The Acting Director of HKETO Berlin, Mr Billy Leung, supported Hong Kong team’s competition and delivered a speech at the event dinner, highlighting Hong Kong as a centre for international major sports events.   

    “Hong Kong is a centre for major sports events. Every year, our annual Hong Kong International Dragon Boat Races attract athletes from around the world, uniting top competitors in a thrilling celebration of athleticism and culture.” 

    This year, the Hong Kong delegation won a total of eight medals, namely one gold, three silver and four bronze medals. Hong Kong will host the next IDBF World Championships in 2027. The closing ceremony held on July 20 was concluded with a symbolic flag handover from the event organisers to the Hong Kong delegation.  

    About HKETO Berlin

    HKETO Berlin is the official representative of the Hong Kong Special Administrative Region Government in commercial relations and other economic and trade matters in Austria as well as Czechia, Germany, Hungary, Poland, the Slovak Republic, Slovenia and Switzerland. 
     

    MIL OSI Asia Pacific News

  • MIL-OSI Security: José Adolfo “Fito” Macías Villamar, Leader of Los Choneros Transnational Criminal Organization Extradited to Brooklyn Federal Court to Face International Drug and Gun Charges

    Source: Office of United States Attorneys

    BROOKLYN, NY – José Adolfo Macías Villamar, also known as “Fito,” a citizen of Ecuador, will be arraigned today at the federal courthouse in Brooklyn for crimes committed as the leader of Los Choneros, a transnational criminal organization based in Ecuador that is responsible for significant drug trafficking into the United States, firearms trafficking from the United States, and acts of extreme violence.  Macías Villamar will be arraigned on a seven-count superseding indictment charging him with international cocaine distribution conspiracy; international cocaine distribution; using firearms in furtherance of drug trafficking; smuggling firearms from the United States; and straw purchasing of firearms conspiracy.  Macías Villamar will be arraigned before United States Chief Magistrate Judge Vera M. Scanlon after being extradited yesterday from Ecuador to the Eastern District of New York.

    Joseph Nocella, Jr., United States Attorney for the Eastern District of New York; Robert Murphy, Acting Administrator of the U.S. Drug Enforcement Administration (DEA); L.C. Cheeks, Jr., Special Agent in Charge, Bureau of Alcohol, Tobacco, Firearms and Explosives, Newark Field Division (ATF); and Jonathan Carson, Special Agent in Charge, U.S. Department of Commerce, Office of Export Enforcement, New York Field Office (OEE), announced the extradition and arraignment.

    “As alleged, the defendant served for years as the principal leader of Los Choneros, a notoriously violent transnational criminal organization, and was a ruthless and infamous drug and firearms trafficker.  The defendant and his co-conspirators flooded the United States and other countries with drugs and used extreme measures of violence in their quest for power and control,” stated United States Attorney Nocella.  “This case demonstrates our Office’s commitment to identifying and targeting the leadership of such organizations, wherever they may be located, and bringing them to face justice here in the United States.”

    “José ‘Fito’ Macias thought he could traffic poison into our country, smuggle American weapons back to his killers, and further his criminal enterprise using chaos and bloodshed. He was wrong,” stated DEA Acting Administrator Robert Murphy.  “Today, the kingpin of Los Choneros faces justice on U.S. soil for his crimes.”

    “ATF remains dedicated to working with our local, state, and federal partners to disrupt the shooting cycle by focusing on those individuals and criminal organizations responsible for the gun violence that plagues our neighborhoods,” stated ATF Special Agent in Charge Cheeks.  “ATF will continue to collaborate with our law enforcement partners to address violent gang and drug-related activity that endangers the safety of our communities.  Our joint efforts are essential in bringing accountability to violent offenders, combatting threats to the public, and reducing violent crime.”

    As alleged in the indictment and other public filings, from at least 2020 to 2025, Macías Villamar was the principal leader of Los Choneros, the most violent and powerful transnational criminal organization in Ecuador.  As the principal leader of Los Choneros, Macías Villamar employed members of the organization to carry out serious acts of violence on the organization’s behalf. At Macías Villamar’s direction, Los Choneros committed violent acts toward Ecuadorean law enforcement, Ecuadorian politicians, attorneys, prosecutors, and civilians.  Los Choneros obtained many of its firearms and weapons by illegally trafficking and exporting them from the United States to Ecuador.  As alleged, the defendant specifically employed individuals who purchased firearms, firearms components, and ammunition in the United States and then illegally smuggled them to Ecuador for use by Los Choneros.

    In 2011, Macías Villamar went to prison in Ecuador on murder, robbery, weapons possession, and drug trafficking charges.  He escaped in 2013 before being recaptured months later.  During his second imprisonment in Ecuador, Macías Villamar used contraband cell phones and the internet to continue to direct the activities of Los Choneros and publish external communications and threats on Los Choneros’ behalf.  In January 2024, he escaped from Ecuadorian prison a second time—just two days ahead of his planned move to a maximum-security facility. In response to his escape, Ecuador erupted in violence—including prison riots, gang attacks, kidnappings, and bombings—and the government of Ecuador declared a state of emergency.  Ecuadorian authorities recaptured Macías Villamar on June 25, 2025, and he was extradited from Ecuador yesterday.

    Macías Villamar and members and associates of his organization used firearms in furtherance of their weapon and drug trafficking activities, including machine guns, AK-47 assault rifles, and grenades.  Macías Villamar and the Los Choneros organization have also been sanctioned by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC).

    The Justice Department’s Office of International Affairs and Ecuadorian authorities provided substantial assistance to secure the extradition of Macías Villamar.  This marks Ecuador’s first extradition of an Ecuadorian national since an April 2024 popular referendum amended Ecuador’s constitution to allow for the extradition of Ecuadorian nationals.

    This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to achieve the total elimination of cartels and transnational criminal organizations (TCOs) and protect our communities from the perpetrators of violent crime.

    The charges in the superseding indictment are allegations, and the defendant is presumed innocent unless and until proven guilty.  If convicted, the defendant faces a mandatory minimum sentence of 20 years in prison and up to life.

    The government’s case is being handled by the Office’s International Narcotics and Money Laundering Section, and as part of the work of the Office’s Transnational Criminal Organizations Strike Force.  Assistant United States Attorneys Chand Edwards-Balfour, Lorena Michelen, and David Berman are in charge of the prosecution.

    The Defendant:

    JOSÉ ADOLFO MACÍAS VILLAMAR (also known as “Fito”)
    Age:  45
    Ecuador

    E.D.N.Y. Docket No.: 25-CR-114 (FB)

    MIL Security OSI

  • MIL-OSI: Maxim Group LLC Expands Equity Sales and Trading with Strategic Hire of Michael Chrisman

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 21, 2025 (GLOBE NEWSWIRE) — Maxim Group LLC, a leading full-service investment banking, securities, and wealth management firm, is pleased to announce the continued expansion of its Equity Sales and Trading division with the addition of seasoned professional, Michael Chrisman. This strategic addition enables the broadening of institutional services offered through the firm’s California branch.

    Michael Chrisman brings 28 years of experience in Institutional Sales trading. Mr. Chrisman has managed a broad array of West Coast-based mutual funds and hedge funds through trading both domestic and international securities, ETFs and programs across all sectors and market caps. Prior to joining Maxim, Mr. Chrisman served in senior positions at various firms, including ANOS Capital, Piper Jaffray, Deutsche Bank, O’Neil Securities, and The Benchmark Company.

    “We are thrilled to welcome Michael to our team as Maxim’s institutional sales trading platform continues to expand into the West Coast,” said Michael A. Cerussi, Head of Institutional Sales and Trading at Maxim Group. “With his experience in global markets, Michael adds a valuable perspective to our team. His insight will help us unlock new opportunities and strengthen the way we support clients across a wide range of regions and sectors.”

    About Maxim Group LLC
    Maxim Group LLC is a full-service investment banking, securities and wealth management firm headquartered in New York. The independent and employee-owned firm provides a full array of financial services including investment banking; private wealth management; and global institutional equity, fixed-income and derivatives sales & trading, equity research and prime brokerage services. Maxim Group LLC is a registered broker-dealer with the U.S. Securities and Exchange Commission (SEC) and the Municipal Securities Rulemaking Board (MSRB) and is a member of FINRA SIPC, and NASDAQ. To learn more about Maxim Group LLC, visit maximgrp.com.

    The MIL Network

  • MIL-OSI United Kingdom: TRA publishes Annual Report and Accounts 2024-25

    Source: United Kingdom – Executive Government & Departments

    News story

    TRA publishes Annual Report and Accounts 2024-25

    TRA releases 2024-25 Annual Report and Accounts and outlines how it is building stronger trade defences.

    The Trade Remedies Authority (TRA) has today published its Annual Report and Accounts for 2024-25, highlighting its work protecting UK businesses from unfair trading practices.

    Trade remedies (also known as trade defence instruments), are measures put in place to help protect UK businesses from unfair imports. Trade remedies include anti-dumping, countervailing and safeguard measures.

    The report details how the organisation has continued to investigate and review cases involving imported goods being sold at unfair prices (dumping) or subsidised imports that could harm UK industry.

    During 2024-25, the TRA has:

    • initiated reviews on schedule for the last of the 43 trade remedy measures the UK transitioned from the EU system. So far, after carrying out its reviews, the TRA have retained 25 of 30 of those transitioned measures to protect UK businesses against unfair international trading practices.
    • successfully completed five new dumping and subsidy cases on behalf of UK industries which had approached them to make an investigation into possible unfair imports.
    • begun preparing industries for the expiry of current measures that will reach their final year in 2026, so that they can seek extensions if they believe the measures are still needed.

    Newly appointed Chief Executives Carmen Suarez and Jessica Blakely said:

    This year’s report demonstrates our ongoing commitment to supporting fair trade for UK businesses. By conducting thorough and impartial investigations, we are helping to create a level playing field in international trade and defend the UK’s economic interests.

    The report also outlines the TRA’s financial performance and governance arrangements for the year and how the TRA has adapted to new challenges and demands as a still young organisation. The TRA is exploring further improvements to its investigations processes which will bring efficiencies in the coming years and ensure the organisation continues to support a thriving UK economy.

    The full Annual Report and Accounts 2024-25 can be found here.

    Notes to editors

    • As an independent body operating at arm’s length from the Department for Business & Trade, the TRA is guided in its work by its principles of proportionality, impartiality, transparency, and efficiency.
    • The TRA welcomes applications for trade remedies investigations from any business operating in the UK. Read our online guidance to find out more about how to apply and what information to provide.
    • The TRA’s Trade Remedies Advisory Service can be contacted on: contact@traderemedies.gov.uk. Previously known as the Pre-Application Office, it will provide support not only at the pre-application stage, but throughout the life of the case to interested parties who have questions about our investigation process.

    Updates to this page

    Published 21 July 2025

    MIL OSI United Kingdom

  • MIL-OSI Africa: Prolific week for entrepreneurs

    Source: Government of South Africa

    Small Business Development Minister Stella Ndabeni has declared this a “historic week” for entrepreneurs and Micro, Small, and Medium Enterprises (MSMEs).

    She was addressing the Startup20 Midterm Engagement Group Meeting held in Gauteng on Monday.

    The meeting kicks off a busy week, with Global Trade Promotion Organisations holding a parallel meeting hosted by the Department of Small Business Development (DSBD), together with the Department of Trade, Industry and Competition.

    “They will consider how the global trade system is being reconfigured, and how MSMEs can build resilience and pivot towards new markets,” Ndabeni said.

    Later this week, the department will host the Global SME ministerial meeting with the International Trade Centre.

    “This meeting will see Ministers, Deputy Ministers and officials from more than 60 countries, as well as various multilateral organisations, converge to discuss entrepreneurship and MSME policy, and look at ways to scale global support for MSMEs, especially in underserved countries,” Ndabeni explained.

    The Global SME ministerial meeting will take aim at:

    • How to bridge the digital divide to empower MSMEs and startups with the infrastructure, skills, and tools needed to compete globally;
    • How to unlock capital access, especially for women- and youth-led businesses, through inclusive financial ecosystems;
    • How to position MSMEs as key actors in the green economy, supporting sustainable practices and circular innovation, and
    • How to foster inclusive trade policies that ensure MSMEs have a seat at the global economic table.

    “The outcome will be a Call to Action, endorsed by the 60 plus countries, which will contain practical policy measures and reforms that will be championed in the UN system and which we can integrate with our G20 MSME agenda.

    “Building on the work started in Brazil, as South Africa we want a dedicated G20 MSME and Startup Working Group, and this week’s deliberations will greatly assist us craft clear terms of reference and agenda for this working group,” Ndabeni said.

    The ministerial meeting will also allow opportunities for inputs from the Startup20 Midterm engagement.

    “Some of you… will be given space to share your thinking with the delegates at the ministerial meeting.

    “Together, we will build a more equal and sustainable future led by MSMEs and startups,” Ndabeni said. – SAnews.gov.za

    MIL OSI Africa

  • MIL-OSI: ETHRANSACTION’s new Cloud Mining contracts makes it easier to yield stablecoins such as BTC, ETH, DOGE, XRP and LTC

    Source: GlobeNewswire (MIL-OSI)

    Kansas City, Missouri, July 21, 2025 (GLOBE NEWSWIRE) —  According to the current financial system of the crypto market, the turbulence continues, and the cloud mining industry is also becoming more and more fierce. Nowadays, using stablecoins to participate in cloud mining is the safest and wisest choice.

    ETHRANSACTION has become an industry leader with safe, reliable, legal, and advanced equipment and artificial intelligence management!

    Follow the ETHRANSACTION platform to help you achieve a daily income of $36,677 (risk-free)

    The ETHRANSACTION platform allows individuals to generate digital currencies remotely for operation and generate substantial and fixed daily income-simplifying cumbersome processes so that users can easily obtain cryptocurrencies without placing expensive equipment or dealing with complex technology.

    Founded in 2017, ETHRANSACTION has obtained all the necessary licenses issued by the British government and has now developed into one of the world’s top and most well-known cloud mining companies. With its advanced facilities, anyone can trade mainstream digital currencies such as Dogecoin, Litecoin, Ripple, and Bitcoin with just a laptop or mobile device.

    ETHRANSACTION prioritizes security and uses industry best practices, including SSL encryption, L&G insurance, and an effective risk prevention system. These security protocols ensure that user data and funds are always safe and confidential.

    Join Now and Enjoy the Welcome Bonus
    ETHRANSACTION offers opportunities for everyone who wants to make money with cryptocurrencies, regardless of their level of expertise. New users can get an instant $19 welcome bonus when they sign up and start mining immediately without any upfront costs or expensive equipment installation.

    High profit potential through first-class plans
    ETHRANSACTION offers contract plans tailored to meet the needs of small and large traders. Participants can start mining for free and get rewards by simply registering as one of ETHRANSACTION users. To make more profits, you need to choose the best contract plan for yourself:

    Buy $100 contract | Earn: $118, total profit $18

    Buy $600 contract | Earn $652.5, total profit $52.5

    Buy $1300 contract | Earn $1536.6, total profit $236.6

    Buy $6300 contract | Earn $8741.25, total profit $2441.25

    Buy $47000 | Earn: $98183, total profit $51183

    All contract plans on the platform are transparent and open, and you can choose the one that suits you when investing.

    ETHRANSACTION has a simple interface and security protection.

    The mining range is wide, and buyers can profit from a variety of altcoins depending on market fluctuations. The currencies that can be mined include: BTC, LTC, BCH and DOGE and other altcoins and obtain.

    The best quality security infrastructure, protected by SSL encryption, insured by L&G, and trusted by large financial institutions

    The sustainable mining process is carried out through 100% renewable energy, ensuring environmental safety and compliance with international standards

    Earn up to 6% permanent commission for each friend referral and exclusive access to a $370,000 reward pool.

    Ethereum 2.0 progress and institutional demand have allowed Ethereum to maintain its position as one of the most popular blockchain technologies. At most, ETH traders can only quadruple their holdings with this modest growth. In contrast, cloud mining with ETHRANSACTION provides a faster and more efficient way to make profits without the risk of keeping ETH savings or market fluctuations.

    ETHRANSACTION Generates Income Even When Traders Are on Vacation
    At a time when passive cash flow is more important than ever, ETHRANSACTION makes it easy and safe for individuals to join the cryptocurrency industry. The network’s legitimacy, security, convenience, and benefits make it an ideal solution for both new and professional investors.

    ETHRANSACTION provides users with the tools they need to mine and create wealth at scale, whether they want to be completely self-reliant or want a flexible income stream.

    Get Started Now!
    You can start receiving daily cryptocurrency rewards without any technical or regional restrictions.
    For more information, please visit the official website: https://ethransaction.vip or contact us via
    email: info@ethransaction.vip

    Attachment

    The MIL Network

  • MIL-OSI: Crypto Futures Made Simple: BexBack Offers No KYC, 100x Leverage and Double Deposit Bonus to All New Users

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, July 21, 2025 (GLOBE NEWSWIRE) — With Bitcoin’s price fluctuating above $120,000, many analysts predict a prolonged period of high volatility in the crypto market. Holding spot positions may struggle to generate short-term profits in such conditions. As a result, 100x leverage futures trading has become the preferred tool for seasoned investors looking to maximize potential gains in this volatile market. BexBack Exchange is ramping up its efforts to offer traders unmatched promotional packages. The platform now features a 100% deposit bonus, a $50 welcome bonus for new users, and 100x leverage on cryptocurrency trading, providing exceptional opportunities for investors.

    What Is 100x Leverage and How Does It Work?

    Simply put, 100x leverage allows you to open larger trading positions with less capital. For example:

    Suppose the Bitcoin price is $100,000 that day, and you open a long contract with 1 BTC. After using 100x leverage, the transaction amount is equivalent to 100 BTC.

    One day later, if the price rises to $105,000, your profit will be (105,000 – 100,000) * 100 BTC / 100,000 = 5 BTC, a yield of up to 500%.

    With BexBack’s deposit bonus

    BexBack offers a 100% deposit bonus. If the initial investment is 2 BTC, the profit will increase to 10 BTC, and the return on investment will double to 1000%.

    Note: Although leveraged trading can magnify profits, you also need to be wary of liquidation risks.

    How Does the 100% Deposit Bonus Work?
    The deposit bonus from BexBack cannot be directly withdrawn but can be used to open larger positions and increase potential profits. Additionally, during significant market fluctuations, the bonus can serve as extra margin, effectively reducing the risk of liquidation.

    About BexBack?

    BexBack is a leading cryptocurrency derivatives platform that offers 100x leverage on BTC, ETH, ADA, SOL, and XRP futures contracts. It is headquartered in Singapore with offices in Hong Kong, Japan, the United States, the United Kingdom, and Argentina. It holds a US MSB (Money Services Business) license and is trusted by more than 500,000 traders worldwide. Accepts users from the United States, Canada, and Europe. There are no deposit fees, and traders can get the most thoughtful service, including 24/7 customer support.

    Why recommend BexBack?

    No KYC Required: Start trading immediately without complex identity verification.

    100% Deposit Bonus: Double your funds, double your profits.

    High-Leverage Trading: Offers up to 100x leverage, maximizing investors’ capital efficiency.

    Demo Account: Comes with 10 BTC in virtual funds, ideal for beginners to practice risk-free trading.

    Comprehensive Trading Options: Feature-rich trading available via Web and mobile applications.

    Convenient Operation: No slippage, no spread, and fast, precise trade execution.

    Global User Support: Enjoy 24/7 customer service, no matter where you are.

    Lucrative Affiliate Rewards: Earn up to 50% commission, perfect for promoters.

    Take Action Now—Don’t Miss Another Opportunity!

    If you missed the previous crypto bull run, this could be your chance. With BexBack’s 100x leverage and 100% deposit bonus and $50 bonus for new users , you can be a winner in the new bull run.

    Sign up on BexBack now, claim your exclusive bonus and start accumulating more BTC today!

    Website: www.bexback.com

    Contact: business@bexback.com

    Contact:
    Amanda
    business@bexback.com

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

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

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/fd8868d2-f7a5-4351-988d-252d044fe2a0
    https://www.globenewswire.com/NewsRoom/AttachmentNg/3ef8a753-ab84-465a-b950-ea7c9730c720
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    https://www.globenewswire.com/NewsRoom/AttachmentNg/14409574-56e8-4a53-b58d-56959ebeae33

    The MIL Network

  • MIL-OSI Security: U.S. Attorney’s Office Filed 84 Border-Related Cases This Week

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    SAN DIEGO – Federal prosecutors in the Southern District of California filed 84 border-related cases this week, including charges of assault on a federal officer, bringing in aliens for financial gain, reentering the U.S. after deportation, and importation of controlled substances.

    The U.S. Attorney’s Office for the Southern District of California is the fourth-busiest federal district, largely due to a high volume of border-related crimes. This district, encompassing San Diego and Imperial counties, shares a 140-mile border with Mexico. It includes the San Ysidro Port of Entry, the world’s busiest land border crossing, connecting San Diego (America’s eighth largest city) and Tijuana (Mexico’s second largest city).

    In addition to reactive border-related crimes, the Southern District of California also prosecutes a significant number of proactive cases related to terrorism, organized crime, drugs, white-collar fraud, violent crime, cybercrime, human trafficking and national security. Recent developments in those and other significant areas of prosecution can be found here.

    A sample of border-related arrests this week:

    • On July 11, Nicolas Duarte-Moreno, a Mexican citizen, was arrested and charged with Bringing in Aliens for Financial Gain. According to a complaint, Duarte-Moreno was arrested by Customs and Border Protection officers after he attempted to enter the U.S. in a Mitsubishi Eclipse Spyder through a Sentri lane at the Otay Mesa Port of Entry with an undocumented immigrant hiding in the vehicle. Officers found the immigrant from Guatemala concealed in the cargo area where the convertible top retracts. While CBP officials dismantled the cargo area by removing bolts and speakers to find and extricate the immigrant, he complained that he could not breathe. He was immediately taken to a hospital.
    • On July 15, Luis Angel Galvez Alvarez, Julio Cesar Oros Castro and Francisco Javier Castro Acosta, all Mexican citizens, were arrested and charged with Importation of a Controlled Substance. According to a complaint, the trio attempted to enter the U.S. about the same time, each driving a Freightliner tractor through the Otay Mesa Commercial Facility. Customs and Border Protection officers stopped each vehicle; they found about 29 pounds of cocaine concealed in the walls behind the beds of each tractor. The complaint said all three drivers admitted they were employed by the same trucking company.
    • On July 16, Jorge Ismael Valencia-Julian, a Mexican citizen, was arrested and charged with Deported Alien Found in the United States. According to a complaint, Valencia-Julian was arrested by a Border Patrol agent who tracked his footprints for five hours as the defendant tried to escape in rough terrain. Valencia-Julian was previously deported in March 2024 at the San Ysidro Port of Entry.

    Also recently, a number of defendants with criminal records were convicted by a jury or sentenced for border-related crimes such as illegally re-entering the U.S. after previous deportation. Here are a few of those cases:

    • On July 11, 2025, Ricardo Velez-Torres, a Mexican National who was previously convicted of Burglary in the First Degree in 2006 and Illegal Reentry in 2002, was sentenced in federal court to 21 months in custody for again entering the U.S. illegally.
    • On July 18, Julio Leyva-Solis, a Mexican national who was previously convicted of the felony facilitation of human smuggling, felony theft of property on three occasions, and felony possession of methamphetamine, was sentenced in federal court to 12 months plus one day in custody for again entering the U.S illegally.

    Pursuant to the Department’s Operation Take Back America priorities, federal law enforcement has focused immigration prosecutions on undocumented aliens who are engaged in criminal activity in the U.S., including those who commit drug and firearms crimes, who have serious criminal records, or who have active warrants for their arrest. Federal authorities have also been prioritizing investigations and prosecutions against drug, firearm, and human smugglers and those who endanger and threaten the safety of our communities and the law enforcement officers who protect the community.

    The immigration cases were referred or supported by federal law enforcement partners, including Homeland Security Investigations (HSI), Immigration and Customs Enforcement’s Enforcement and Removal Operations (ICE ERO), Customs and Border Protection, U.S. Border Patrol, the Drug Enforcement Administration (DEA), the Federal Bureau of Investigation (FBI), the U.S. Marshals Service (USMS), and the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), with the support and assistance of state and local law enforcement partners.

    Indictments and criminal complaints are merely allegations and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI

  • MIL-OSI: TLGY Acquisition Corp. Announces Business Combination and Approximately $360 Million PIPE Financing to Form StablecoinX, an Ethena Stablecoin-Focused Treasury Company

    Source: GlobeNewswire (MIL-OSI)

    Combined Business Expected to be the First Pure-Play Treasury Company in the Ethena Stablecoin Vertical and Will Seek to have its Shares Listed on Nasdaq under Ticker “USDE” at Closing

    Ethena Foundation to Immediately Initiate $260M Token Buyback Program  

    New York , July 21, 2025 (GLOBE NEWSWIRE) — TLGY Acquisition Corp. (OTC: TLGYF) (“TLGY”), a special purpose acquisition company, today announced that it has entered into a definitive agreement for a business combination with StablecoinX Assets Inc. (“SC Assets”), a newly-formed validator and infrastructure business supporting the Ethena ecosystem (the definitive agreement, the “Business Combination Agreement” and the transactions contemplated thereby, the “Transaction”). The combined company will be named StablecoinX Inc. (“StablecoinX” or the “Company”) and the parties will seek to have StablecoinX’s Class A common shares listed on Nasdaq under the ticker symbol “USDE.”

    Approximately $360 Million in New Capital Anchors ENA Treasury Strategy

    To support the Transaction, TLGY and SC Assets have also entered into binding agreements for approximately $360 million private investment in public equity (“PIPE”), including a $60 million contribution from the Ethena Foundation and additional capital commitments from leading investors Dragonfly, Ribbit Capital, Blockchain.com, Pantera Capital, ParaFi Capital, Haun Ventures, Polychain Capital, Galaxy Digital, Wintermute, and others.

    The proceeds from the PIPE are expected to anchor a multi-year treasury strategy to build a reserve of ENA, the Ethena protocol’s native token. Ethena is the third-largest issuer of digital dollars on-chain, after Tether and Circle. This treasury initiative supports StablecoinX’s objective of generating shareholder value by securing a strategic stake in a protocol at the forefront of the accelerating global demand for digital dollars. StablecoinX believes large-scale ENA accumulation will enable the Company’s shareholders to secure early exposure to the secular stablecoin supercycle. 

    “As a top issuer of digital dollars alongside Tether and Circle, Ethena is a direct beneficiary of the growth in stablecoin adoption,” said Young Cho, CEO of TLGY and CEO of SC Assets. “But, it is currently difficult for investors to capitalize on its strong position since the native token ENA is difficult to access in traditional capital markets. This transaction gives public market investors transparent, well‑governed access to the Ethena ecosystem. Deploying capital to accumulate ENA at scale is a deliberate, multi‑year capital allocation strategy that will enable StablecoinX to capture the value driven by the secular surge in demand for digital dollars while compounding intrinsic value per share.”

    To support StablecoinX’s operations and facilitate its accumulation of ENA after the closing of the Transactions, StablecoinX and the Ethena Foundation have entered into a multi-year collaboration agreement (the “Collaboration Agreement”) governing the continued partnership between the two parties. In addition, to help support the PIPE, a subsidiary of the Ethena Foundation and  SC Assets, solely in its capacity as agent for certain of the PIPE investors, have entered into a token purchase agreement (the “Token Purchase Agreement”), pursuant to which SC Assets will use the cash proceeds from the PIPE to make an initial purchase of discounted locked ENA from the Ethena Foundation subsidiary.

    “The Ethena Foundation’s mandate is to safeguard Ethena’s longevity and decentralisation,” said Marc Piano, Director at the Ethena Foundation. “Partnering with StablecoinX under a disciplined, locked‑token framework ensures that capital entering the ecosystem is long-term and value‑accretive while enhancing ecosystem capital efficiency. The built‑in lockups, investment‑committee oversight and permanent‑capital mandate create strong incentives for sustained contribution to the protocol.”

    The Ethena Foundation subsidiary, via intermediary market makers, plans to use the proceeds from the token sale under the Token Purchase Agreement to strategically purchase ENA across publicly traded venues starting today, further aligning the Foundation’s incentives with those of StablecoinX shareholders.

    “StablecoinX’s treasury program is a milestone for broadening institutional access to the Ethena ecosystem,” said Guy Young, founder of Ethena Labs and advisor to StablecoinX. “By systematically accumulating ENA through a transparent, permanent‑capital vehicle, StablecoinX will give public market investors a clear, accessible way to gain exposure to one of the most compelling growth stories in all of finance – digital dollars upgrading money to the internet era. We’re excited to support a strategy that deepens ENA liquidity, bolsters Ethena’s ecosystem, and aligns shareholder value with the long‑term success of USDe, USDtb, and other upcoming Ethena products.”

    Following the business combination, StablecoinX will operate infrastructure and staking services, running validators and related technical services for the Ethena protocol. StablecoinX’s management is committed to maximizing ENA per share, directing excess capital and ecosystem earnings into strategic ENA accumulation so that each outstanding share steadily increases its backing over time.

    Key Terms of the Token Purchase Agreement and the Collaboration Agreement between StableXoinX and Ethena Foundation

    • SC Assets will direct the purchase of locked ENA tokens equal in value to its cash PIPE proceeds (less certain fees and expenses).
    • StablecoinX will retain the right to join future ENA token offerings by the Ethena Foundation (directly or via subsidiaries) after the closing of the Transactions on mutually agreed terms.
    • The Collaboration Agreement has a five‑year initial term with automatic one‑year renewals, aligning both parties on long‑term network development and advocacy.
    • Capital allocation decisions, including ENA purchases, treasury operations and equity issuances of StablecoinX, to require majority approval of a three‑member Investment Committee to be comprised of representatives of StablecoinX, the Ethena Foundation and an independent member.

    As part of the Collaboration Agreement, StablecoinX will adopt a long-term permanent capital treasury mandate dictating that every ENA token the Company acquires will be held permanently and unencumbered on its balance sheet, with no sale, lending, pledging or other disposition permitted without the Ethena Foundation’s approval.

    Transaction Overview

    • Shares, warrants and units of TLGY will continue to trade under the symbol “TLGYF”, “TLGWF” and “TLGUF”, respectively, until the closing of the proposed Transaction. Following the closing of the proposed Transaction, StablecoinX’s Class A shares and warrants are expected to trade on Nasdaq under the ticker symbol “USDE” and “USDEW”, respectively.
    • TLGY and SC Assets have entered into binding agreements for approximately $360 million in PIPE financing, of which approximately $260 million is being funded in cash and $100 million is being funded in discounted ENA. The cash proceeds from the PIPE will be used to purchase discounted locked ENA from the Ethena Foundation subsidiary in conjunction with the transaction announcement, which will be held in a custody account for the benefit of such investors through the closing of the Transaction. At the closing of the PIPE, investors will receive shares of StablecoinX Class A stock, which will be non-voting. In addition to the StablecoinX Class A shares, the Ethena Foundation will also receive shares of StablecoinX Class B stock, which will have 1 vote per share, resulting in the Ethena Foundation holding a majority of the voting power of StablecoinX after the closing. The shares to be issued to the PIPE investors will be valued at $10.00 per share and the number of which will fluctuate based on the price performance of ENA from announcement to closing.
    • The board of directors of SC Assets, the board of directors of TLGY, and a special committee of disinterested and independent directors of TLGY, have unanimously approved the proposed business combination.
    • The transactions are expected to close in Q4 2025, subject to shareholder approval, StablecoinX’s successful listing on the Nasdaq, and other customary closing conditions.

    For additional information regarding the transaction, see TLGY’s related Form 8-K, which will be filed promptly, and which can be obtained, without charge, at the Securities and Exchange Commission’s internet site (http://www.sec.gov).

    Conference Call

    TLGY will discuss its proposed business combination with StablecoinX with securities analysts in a call today, Monday, July 21, 2025, at 4:30 p.m. ET. A webcast of the meeting will be available in a listen-only mode to individual investors, media, and other interested parties on TLGY’s website at www.tlgyacquisition.com under the “Events” section.

    Advisors

    Perkins Coie LLP is acting as legal advisor to TLGY. Ropes & Gray LLP is acting as legal advisor to the Ethena Foundation. Edelman Legal Advisory PLLC is acting as legal advisor to SC Assets.

    About TLGY Acquisition Corporation

    TLGY Acquisition Corporation is a blank-check company sponsored by Carnegie Park Capital LLC, whose business purpose is to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. TLGY was formed to focus on growth companies through long-term, private equity-style value creation.
     
    About StablecoinX Assets Inc.

    StablecoinX is a newly-formed validator and infrastructure business expected to operate infrastructure and staking services, running validators and related technical services for the Ethena protocol. StablecoinX is expected to adopt a multi-year treasury strategy to build a reserve of ENA, the Ethena protocol’s native token.

    About the Ethena Foundation

    The Ethena Foundation serves as an independent steward of the Ethena protocol – the network behind the USDe and USDtb digital dollars – with a focus on the protocol’s long-term success and integrity. The Ethena Foundation is responsible for the protocol’s governance framework, oversight of key protocol assets, and facilitating essential operations. The foundation’s commitment is to ensure the sustainable development and stability of the Ethena ecosystem for all its participants.

    Important Information and Where to Find It

    In connection with the Transaction, StablecoinX intends to file with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 (the “Registration Statement”), which will include a preliminary proxy statement of TLGY and a preliminary prospectus of StablecoinX, and after the Registration Statement is declared effective, TLGY will mail the definitive proxy statement/prospectus relating to the Transaction to its shareholders as of the record date to be established for voting at the Extraordinary General Meeting. The Registration Statement, including the proxy statement/prospectus contained therein, will contain important information about the Transaction and the other matters to be voted upon at the Extraordinary General Meeting. This press release does not contain all the information that should be considered concerning the Transaction and other matters and is not intended to provide the basis for any investment decision or any other decision in respect of such matters. TLGY and StablecoinX may also file other documents with the SEC regarding the Transaction. TLGY’s shareholders and other interested persons are advised to read, when available, the Registration Statement, including the preliminary proxy statement/prospectus contained therein, the amendments thereto and the definitive proxy statement/prospectus and other documents filed in connection with the Transaction, as these materials will contain important information about TLGY, SC Assets, StablecoinX and the Transaction.

    TLGY’s shareholders and other interested persons will be able to obtain copies of the Registration Statement, including the preliminary proxy statement/prospectus contained therein, the definitive proxy statement/prospectus and other documents filed or that will be filed by TLGY and StablecoinX with the SEC, free of charge, through the website maintained by the SEC at www.sec.gov.

    Forward-Looking Statements

    This press release includes certain statements that may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements with respect to the proposed Transaction include expectations, hopes, beliefs, intentions, plans, prospects, financial results or strategies regarding SC Assets, StablecoinX, TLGY and the proposed Transaction, statements regarding the anticipated benefits and timing of the completion of the proposed Transaction, the assets held by SC Assets and StablecoinX, the price and volatility of ENA, ENA’s growing prominence as an issuer of digital dollars on-chain, StablecoinX’s listing on any securities exchange, the macro, political and regulatory conditions surrounding ENA, the planned business strategy including StablecoinX’s ability to develop a corporate architecture capable of supporting its treasury initiatives and strategic stake in the Ethena Protocol, plans and use of proceeds, objectives of management for future operations of StablecoinX, the upside potential and opportunity for investors, StablecoinX’s plan for value creation and strategic advantages, market size and growth opportunities, regulatory conditions, technological and market trends, future financial condition and performance and expected financial impacts of the proposed Transaction, the satisfaction of closing conditions to the proposed Transaction and the level of redemptions of TLGY’s public shareholders, and StablecoinX’s expectations, intentions, strategies, assumptions or beliefs about future events, results of operations or performance or that do not solely relate to historical or current facts. Forward-looking statements are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including, but not limited to: the risk that the proposed Transaction may not be completed in a timely manner or at all, which may adversely affect the price of TLGY’s securities; the risk that the proposed Transaction may not be completed by TLGY’s business combination deadline; the failure by the parties to satisfy the conditions to the consummation of the proposed Transaction, including the approval of TLGY’s shareholders and the listing of StablecoinX’s securities on a national securities exchange at closing; failure to realize the anticipated benefits of the proposed Transaction; the level of redemptions by TLGY’s public shareholders, which may reduce the public float of, reduce the liquidity of the trading market of, and/or impact the ability of, the shares of Class A common stock of StablecoinX to be listed in connection with the proposed Transaction; the insufficiency of the third-party fairness opinion for the board of directors of TLGY in determining whether or not to pursue the proposed Transaction; the failure of StablecoinX to obtain or maintain the listing of its securities on any securities exchange after closing of the proposed Transaction; risks associated with TLGY, SC Assets and StablecoinX’s ability to consummate the proposed Transaction timely or at all, including in connection with potential regulatory delays or impediments, changes in ENA prices or for other reasons; costs related to the proposed Transaction and as a result of becoming a public company; changes in business, market, financial, political and regulatory conditions; risks relating to StablecoinX’s anticipated operations and business, including the volatile nature of the price of ENA; the risk that StablecoinX’s stock price will be highly correlated to the price of ENA and the price of ENA may decrease between the signing of the definitive documents for the proposed Transaction and the closing of the proposed Transaction or at any time after the closing of the proposed Transaction; risks associated with TLGY, SC Assets and StablecoinX’s ability to consummate the proposed Transaction timely or at all, including in connection with potential regulatory delays or impediments, changes in ENA prices or for other reasons; risks related to increased competition in the industries in which StablecoinX will operate; risks relating to significant legal, commercial, regulatory and technical uncertainty regarding ENA; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; risks that after consummation of the proposed Transaction, StablecoinX experiences difficulties managing its growth and expanding operations; the risks that launching and growing StablecoinX’s ENA treasury advisory and services in digital marketing and strategy could be difficult; challenges in implementing StablecoinX’s business plan, due to operational challenges, significant competition and regulation; being considered to be a “shell company” by any stock exchange on which StablecoinX’s Class A Common Stock will be listed or by the SEC, which may impact StablecoinX’s ability to list its securities and restrict reliance on certain rules or forms in connection with the offering, sale or resale of securities; the outcome of any potential legal proceedings that may be instituted against StablecoinX, SC Assets, TLGY or others following announcement of the proposed Transaction, and those risk factors discussed in documents that StablecoinX and/or TLGY has filed, or will file, with the SEC. The foregoing list of risk factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of The Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q that have been and/or will be filed by TLGY with the SEC from time to time, the Registration Statement that will be filed by StablecoinX and TLGY and the proxy statement/prospectus contained therein, and other documents that have been or will be filed by TLGY and StablecoinX from time to time with the SEC. These filings do or will identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. There may be additional risks that neither TLGY, SC Assets nor StablecoinX presently know or that TLGY, SC Assets and StablecoinX currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

    Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and each of TLGY, SC Assets, and StablecoinX assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither TLGY, SC Assets, nor StablecoinX gives any assurance that any of TLGY, SC Assets, or StablecoinX will achieve their respective expectations. The inclusion of any statement in this press release does not constitute an admission by TLGY, SC Assets or StablecoinX or any other person that the events or circumstances described in such statement are material.

    The terms of the proposed Transaction described in this press release, including any dollar-denominated figures or implied valuations, are based on information as of the date of the signing of the definitive Business Combination Agreement and assume no redemptions from the TLGY trust account. These terms are subject to change, including as a result of fluctuations in the price of ENA prior to closing of the proposed Transaction. There can be no assurance that the final terms at the closing of the Transaction will reflect the figures referenced herein.

    No Offer or Solicitation

    This press release does not constitute (i) a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Transaction or (ii) an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase, any securities of TLGY, SC Assets, the combined company or any of their respective affiliates. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom, nor shall any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction be affected. No securities commission or securities regulatory authority in the United States or any other jurisdiction has in any way passed upon the merits of the Transaction or the accuracy or adequacy of this communication.

    Participants in the Solicitation

    TLGY, SC Assets, StablecoinX and their respective directors and officers may be deemed participants in the solicitation of proxies of TLGY’s shareholders in connection with the Transaction. More detailed information regarding the directors and officers of TLGY, and a description of their interests in TLGY, is contained in TLGY’s filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed with the SEC on March 5, 2025, and is available free of charge at the SEC’s website at www.sec.gov. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of TLGY’s shareholders in connection with the Transaction and other matters to be voted upon at the Extraordinary General Meeting will be set forth in the Registration Statement for the Transaction when available.

    Media Contacts

    StablecoinX
    press@stablecoinx.com

    TLGY Acquisition Corp.
    media@tlgycpc.com

    Ethena Foundation
    nate.johnson@augustco.com

    The MIL Network

  • MIL-OSI Submissions: I watched a simulated oil spill in the Indian Ocean – here’s how island and coastal countries worked together to avoid disaster

    Source: The Conversation – UK – By Kate Sullivan de Estrada, Associate Professor in the International Relations of South Asia, University of Oxford

    Preparing to react to a maritime ’emergency’. Romuald Robert, CC BY

    The coils of black hose, drum skimmers designed to collect oil from the ocean’s surface, and orangey-red containment booms all looked out of place on the white sand of Mombasa’s touristy Nyali beach. But on July 9, dozens of emergency responders in red and orange hi-vis gear took over a portion of this beach. They were braving the wind and choppy Indian Ocean waves as they mock up the onshore response to a simulated oil spill at sea.

    I research how countries in the western Indian Ocean cooperate to make the seas around them safer, and I was there to observe a field training exercise that brought together around 200 participants from ten coastal and island states for one week in east Africa’s largest port city. Codenamed MASEPOLREX25, it put two types of emergency response to the test.

    The first was Kenya’s national-level response to marine oil pollution, guided by its national contingency plan. The second was a regional-level response that can bring in outside help from other nations. The organiser of the exercise, the Indian Ocean Commission (IOC) – an intergovernmental group of Western Indian Ocean islands headquartered in Mauritius – wanted the countries of the region to rehearse a joint response to marine pollution.

    Preparations begin on Kenya’s Nyali beach for the emergency exercise.
    Romuald Robert., CC BY

    The exercise put two IOC-designed regional centres through their paces. Think of them like a pair of regional helpdesks for ocean security, each with a distinct purpose.

    How does it unfold?

    The exercise began the day before with a briefing on the marine pollution scenario. The Kenyan authorities had received a distress call from the fictional captains of two damaged vessels.

    An oil tanker with a deadweight tonnage of 50,000 had collided with a feeder ship in Tanzanian waters, just south of Kenya’s maritime zone. The captain of the tanker suspected that 3,000-to-4,000 metric tonnes of intermediate fuel oil (persistent, thick oil that won’t evaporate by itself) had spilled into the ocean.

    Such an incident is plausible. A 2023 IOC-commissioned internal study pinpointed the Kenya-Tanzania border as a hotspot for marine pollution risk. Two major ports sit in close proximity in a busy maritime transit corridor.

    Clustered around an incident board, Kenya’s incident management team mounted their national response. Nuru Mohammed, liaison officer for the Kenya Maritime Authority, explained that the assessment of the size of the spill and expectations of its behaviour had already led the team to anticipate the need for regional support. At this time of year, the sea current would carry the slick northward into Kenyan waters.

    At the back of everyone’s minds was the 2020 Wakashio incident, in which a bulk carrier owned by a Japanese shipping company but flagged to Panama ran aground to the southeast of Mauritius. An estimated 800-to-1,000 tonnes of fuel oil spilled into the sea, affecting 30km of Mauritian coastline. The cost to marine life, food security and human health were compounded by economic and connectivity challenges posed by the COVID pandemic.

    Responders prepare oil-spill equipment on the beach near Mombasa.
    Romuald Robert, CC BY-SA

    For the exercise, aerial surveillance of the mock spill triggered the first attempt at containment. A live video feed of the offshore national response showed rice husks, a substitute for the oil, afloat on the waves. Two vessels sprayed simulated oil-spill dispersants in challenging winds.

    In real life, as in this exercise, oil properties determine how the spill will behave. IOC consultant Peter Taylor warned that churning waves could mix with the oil forming emulsions that were viscous and not dispersible.

    We turned our attention to the chat feed on SeaVision, an information-sharing platform. A notification popped up. The Regional Maritime Information Fusion Centre (RMIFC) in Madagascar had shared mapped and timestamped projections of the drift of the oil slick for the following 72 hours. The centre’s director, Alex Ralaiarivony, later explained how it could provide other technical support such as satellite imagery, and could calculate the proportions of oil that were likely to become submerged, evaporate, remain adrift and reach the shoreline.

    By July 9, the fictional oil spill had reached the coast. The team on Nyali beach hurried to deploy an oil containment boom, a floating barrier that can shield sensitive areas such as shorelines.

    Back at headquarters, SeaVision was busy with messages. The other centre, the Regional Coordination of Operations Centre (RCOC) in Seychelles, was urgently requesting more shoreline equipment to help with oil spills, such as booms, from regional partners. Mauritius and Madagascar both made offers to help that Kenya accepted, and the RCOC coordinated a Dornier aircraft from Seychelles for collection and delivery.

    How does the emergency response work?

    The two centres help countries in the Western Indian Ocean secure their maritime zones against threats such as piracy, illegal, unreported and unregulated fishing, the trafficking of illicit goods – and marine pollution incidents.

    In Madagascar, the RMIFC gathers and analyses maritime data from multiple sources to detect potential threats at sea. This enables early warning of threats like oil spills, as well as suspicious ships or boats engaged in illicit maritime activities.

    The RCOC in Seychelles responds to these threats. It draws on a shared pool of aircraft and ships belonging to its members, using these to coordinate joint responses – whether through sea patrols, boarding and inspecting ships, or laying the legal groundwork to prosecute offenders.

    The two regional centres serve seven states: IOC island members Comoros, Madagascar, Mauritius, Seychelles and France — through its island territory of La Réunion — as well as East African coastal states Kenya and Djibouti.

    On July 10, the exercise ended with an evaluation. One takeaway was that the two regional centres could have been used even more – for instance, to coordinate technical assistance from different partners. But a key purpose of the exercise was to help participating countries understand what the centres offer, and get them used to a regional-level response.

    Coastal and island states thousands of kilometres apart are being brought closer by maritime threats in their shared ocean. And the two centres are building their operational capacity to support the whole region, while also creating trust among countries. This matters in a geopolitical context of strategic competition in the Indian Ocean, where islands and East African coastal states sometimes want to put their own needs first.

    At the end of the exercise, IOC officer-in-charge Raj Mohabeer reminded participants that the island and coastal states of the Western Indian Ocean have vast maritime zones and face multiple seaborne security threats to their economies, ecologies and livelihoods. “No developing country can deal with a significant marine pollution event alone.”

    Kate Sullivan de Estrada receives funding from Research England’s Policy Support Fund allocation to the University of
    Oxford via the Public Policy Challenge Fund. Her project under the Fund is titled “Balancing ‘Sovereignty Trade-offs’ in Small-State Maritime Security Co-operation: The Case of the Indian Ocean Commission.”

    ref. I watched a simulated oil spill in the Indian Ocean – here’s how island and coastal countries worked together to avoid disaster – https://theconversation.com/i-watched-a-simulated-oil-spill-in-the-indian-ocean-heres-how-island-and-coastal-countries-worked-together-to-avoid-disaster-260895

    MIL OSI

  • MIL-OSI Submissions: How a popular sweetener could be damaging your brain’s defences – new study

    Source: The Conversation – UK – By Havovi Chichger, Professor, Biomedical Science, Anglia Ruskin University

    Found in everything from protein bars to energy drinks, erythritol has long been considered a safe alternative to sugar. But new research suggests this widely used sweetener may be quietly undermining one of the body’s most crucial protective barriers – with potentially serious consequences for heart health and stroke risk.

    A new study from the University of Colorado suggests erythritol may damage cells in the blood-brain barrier, the brain’s security system that keeps out harmful substances while letting in nutrients. The findings add troubling new detail to previous observational studies that have linked erythritol consumption to increased rates of heart attack and stroke.

    In the new study, researchers exposed blood-brain barrier cells to levels of erythritol typically found after drinking a soft drink sweetened with the compound. They saw a chain reaction of cell damage that could make the brain more vulnerable to blood clots – a leading cause of stroke.


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    Erythritol triggered what scientists call oxidative stress, flooding cells with harmful, highly reactive molecules known as free radicals, while simultaneously reducing the body’s natural antioxidant defences. This double assault damaged the cells’ ability to function properly, and in some cases killed them outright.

    But perhaps more concerning was erythritol’s effect on the blood vessels’ ability to regulate blood flow. Healthy blood vessels act like traffic controllers, widening when organs need more blood – during exercise, for instance – and tightening when less is required. They achieve this delicate balance through two key molecules: nitric oxide, which relaxes blood vessels, and endothelin-1, which constricts them.

    The study found that erythritol disrupted this critical system, reducing nitric oxide production while ramping up endothelin-1. The result would be blood vessels that remain dangerously constricted, potentially starving the brain of oxygen and nutrients. This imbalance is a known warning sign of ischaemic stroke – the type caused by blood clots blocking vessels in the brain.

    Even more alarming, erythritol appeared to sabotage the body’s natural defence against blood clots. Normally, when clots form in blood vessels, cells release a “clot buster” called tissue plasminogen activator that dissolves the blockage before it can cause a stroke. But the sweetener blocked this protective mechanism, potentially leaving clots free to wreak havoc.

    The laboratory findings align with troubling evidence from human studies. Several large-scale observational studies have found that people who regularly consume erythritol face significantly higher risks of cardiovascular disease, including heart attacks and strokes. One major study tracking thousands of participants found that those with the highest blood levels of erythritol were roughly twice as likely to experience a major cardiac event.

    However, the research does have limitations. The experiments were conducted on isolated cells in laboratory dishes rather than complete blood vessels, which means the cells may not behave exactly as they would in the human body. Scientists acknowledge that more sophisticated testing – using advanced “blood vessel on a chip” systems that better mimic real physiology – will be needed to confirm these effects.

    The findings are particularly significant because erythritol occupies a unique position in the sweetener landscape. Unlike artificial sweeteners such as aspartame or sucralose, erythritol is technically a sugar alcohol – a naturally occurring compound that the body produces in small amounts. This classification helped it avoid inclusion in recent World Health Organization guidelines that discouraged the use of artificial sweeteners for weight control.

    Erythritol has also gained popularity among food manufacturers because it behaves more like sugar than other alternatives. While sucralose is 320 times sweeter than sugar, erythritol provides only about 80% of sugar’s sweetness, making it easier to use in recipes without creating an overpowering taste. It’s now found in thousands of products, especially in many “sugar-free” and “keto-friendly” foods.

    Erythritol can be found in many keto-friendly products, such a protein bars.
    Stockah/Shutterstock.com

    Trade-off

    Regulatory agencies, including the European Food Standards Agency and the US Food and Drug Administration, have approved erythritol as safe for consumption. But the new research adds to a growing body of evidence suggesting that even “natural” sugar alternatives may carry unexpected health risks.

    For consumers, the findings raise difficult questions about the trade-offs involved in sugar substitution. Sweeteners like erythritol can be valuable tools for weight management and diabetes prevention, helping people reduce calories and control blood sugar spikes. But if regular consumption potentially weakens the brain’s protective barriers and increases cardiovascular risk, the benefits may come at a significant cost.

    The research underscores a broader challenge in nutritional science: understanding the long-term effects of relatively new food additives that have become ubiquitous in the modern diet. While erythritol may help people avoid the immediate harms of excess sugar consumption, its effect on the blood-brain barrier suggests that frequent use could be quietly compromising brain protection over time.

    As scientists continue to investigate these concerning links, consumers may want to reconsider their relationship with this seemingly innocent sweetener – and perhaps question whether any sugar substitute additive is truly without risk.

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

    ref. How a popular sweetener could be damaging your brain’s defences – new study – https://theconversation.com/how-a-popular-sweetener-could-be-damaging-your-brains-defences-new-study-261500

    MIL OSI

  • MIL-OSI Submissions: Dogs are helping people regulate stress even more than expected, research shows

    Source: The Conversation – USA (3) – By Kevin Morris, Research Professor of Social Work, University of Denver

    Studies show that dogs help humans cope with stress. marcoventuriniautieri/E+ via Getty Immages

    In a 2022 survey of 3,000 U.S. adults, more than one-third of respondents reported that on most days, they feel “completely overwhelmed” by stress. At the same time, a growing body of research is documenting the negative health consequences of higher stress levels, which include increased rates of cancer, heart disease, autoimmune conditions and even dementia.

    Assuming people’s daily lives are unlikely to get less stressful anytime soon, simple and effective ways to mitigate these effects are needed.

    This is where dogs can help.

    As researchers at the University of Denver’s Institute for Human-Animal Connection, we study the effects animal companions have on their humans.

    Dozens of studies over the last 40 years have confirmed that pet dogs help humans feel more relaxed. This would explain the growing phenomenon of people relying on emotional support dogs to assist them in navigating everyday life. Dog owners have also been shown to have a 24% lower risk of death and a four times greater chance of surviving for at least a year after a heart attack.

    Now, a new study that we conducted with a team of colleagues suggests that dogs might have a deeper and more biologically complex effect on humans than scientists previously believed. And this complexity may have profound implications for human health.

    How stress works

    The human response to stress is a finely tuned and coordinated set of various physiological pathways. Previous studies of the effects of dogs on human stress focused on just one pathway at a time. For our study, we zoomed out a bit and measured multiple biological indicators of the body’s state, or biomarkers, from both of the body’s major stress pathways. This allowed us to get a more complete picture of how a dog’s presence affects stress in the human body.

    The stress pathways we measured are the hypothalamic-pituitary-adrenal, or HPA, axis and the sympathoadrenal medullary, or SAM, axis.

    When a person experiences a stressful event, the SAM axis acts quickly, triggering a “fight or flight” response that includes a surge of adrenaline, leading to a burst of energy that helps us meet threats. This response can be measured through an enzyme called alpha-amylase.

    At the same time, but a little more slowly, the HPA axis activates the adrenal glands to produce the hormone cortisol. This can help a person meet threats that might last for hours or even days. If everything goes well, when the danger ends, both axes settle down, and the body goes back to its calm state.

    While stress can be an uncomfortable feeling, it has been important to human survival. Our hunter-gatherer ancestors had to respond effectively to acute stress events like an animal attack. In such instances, over-responding could be as ineffective as under-responding. Staying in an optimal stress response zone maximized humans’ chances of survival.

    Dogs can be more helpful than human friends in coping with stressful situations.
    FG Trade/E+ via Getty Images

    More to the story

    After cortisol is released by the adrenal glands, it eventually makes its way into your saliva, making it an easily accessible biomarker to track responses. Because of this, most research on dogs and stress has focused on salivary cortisol alone.

    For example, several studies have found that people exposed to a stressful situation have a lower cortisol response if they’re with a dog than if they’re aloneeven lower than if they’re with a friend.

    While these studies have shown that having a dog nearby can lower cortisol levels during a stressful event, suggesting the person is calmer, we suspected that was just part of the story.

    What our study measured

    For our study, we recruited about 40 dog owners to participate in a 15-minute gold standard laboratory stress test. This involves public speaking and oral math in front of a panel of expressionless people posing as behavioral specialists.

    The participants were randomly assigned to bring their dogs to the lab with them or to leave their dogs at home. We measured cortisol in blood samples taken before, immediately after and about 45 minutes following the test as a biomarker of HPA axis activity. And unlike previous studies, we also measured the enzyme alpha-amylase in the same blood samples as a biomarker of the SAM axis.

    As expected based on previous studies, the people who had their dog with them showed lower cortisol spikes. But we also found that people with their dog experienced a clear spike of alpha-amylase, while those without their dog showed almost no response.

    No response may sound like a good thing, but in fact, a flat alpha-amylase response can be a sign of a dysregulated response to stress, often seen in people experiencing high stress responses, chronic stress or even PTSD. This lack of response is caused by chronic or overwhelming stress that can change how our nervous system responds to stressors.

    In contrast, the participants with their dogs had a more balanced response: Their cortisol didn’t spike too high, but their alpha-amylase still activated. This shows that they were alert and engaged throughout the test, then able to return to normal within 45 minutes. That’s the sweet spot for handling stress effectively. Our research suggests that our canine companions keep us in a healthy zone of stress response.

    Having a dog benefits humans’ physical and psychological health.

    Dogs and human health

    This more nuanced understanding of the biological effects of dogs on the human stress response opens up exciting possibilities. Based on the results of our study, our team has begun a new study using thousands of biomarkers to delve deeper into the biology of how psychiatric service dogs reduce PTSD in military veterans.

    But one thing is already clear: Dogs aren’t just good company. They might just be one of the most accessible and effective tools for staying healthy in a stressful world.

    Kevin Morris receives funding for this research from the Morris Animal Foundation, the Human-Animal Bond Research Institute, and the University of Denver.

    Jaci Gandenberger receives funding from the University of Denver to support this research.

    ref. Dogs are helping people regulate stress even more than expected, research shows – https://theconversation.com/dogs-are-helping-people-regulate-stress-even-more-than-expected-research-shows-254563

    MIL OSI

  • MIL-OSI Submissions: Filipino sailors dock in Mexico … and help invent tequila?

    Source: The Conversation – USA (2) – By Stephen Acabado, Professor of Anthropology, University of California, Los Angeles

    Bottles of tequila now command premium prices in trendy bars. On Instagram, celebrity-backed brands of the agave-based Mexican spirit jostle for attention. And debates over cultural appropriation and agave sustainability swirl alongside booming tourism in Jalisco, the western Mexican state that serves as the world’s tequila distillation hub.

    But behind the spirit’s flash of marketing and growing popularity lies a rarely asked question: Where did the knowledge to distill agave come from in the first place?

    In recent years, scholars studying how Indigenous communities responded to colonialism and global trade networks have begun to look more closely at the Pacific world. One key focus is the Manila-Acapulco galleon trade route, which linked Asia and the Americas for 250 years, from 1565 to 1815.

    The Manila-Acapulco galleon trade route.
    Jesse Nett/Oregon Encylopedia

    After Spain colonized the Philippines in 1565, Spanish galleons – towering, multidecked sailing ships – carried Chinese silk and Mexican silver across the ocean. But far more than goods traveled aboard those ships. They moved people, ideas and technologies.

    Among them was the craft of distillation.

    This overlooked connection may help explain how distilled agave spirits such as tequila came into being. While tequila is unmistakably a Mexican creation, the techniques used to produce it may owe something to Filipino sailors, who brought with them deep knowledge of transforming coconut sap into a potent spirit known as lambanog.

    3 competing theories

    For centuries, the rise of tequila has been credited to the Spanish. After the conquest of Mexico in the 16th century, colonizers introduced alembic stills, which are based on Moorish and Arabic technology. Unlike simple boiling, distillation requires managing heat and capturing purified vapor. These stills represented a major technological leap, allowing people to transform fermented drinks into distilled spirits.

    Agave, long used to make the fermented drink pulque, soon became the base for something new: tequila and mezcal.

    Colonial records, including the “Relaciones Geográficas,” a massive data-gathering project initiated by the Spanish Crown in the late 16th century, describe local Mesoamerican communities learning distillation from Spanish settlers. This version is well documented. But it assumes that technology moved in only one direction, from Europe to the Americas.

    A second idea suggests that Mesoamerican communities already had some understanding of vapor condensation. Archaeologists have found ceramic vessels in western Mexico that may have been used to capture steam. While distillation requires additional steps, this prior knowledge may have primed Indigenous groups to more readily adopt new techniques.

    As Mexican ethnobotanists Patricia Colunga-GarcíaMarín and Daniel Zizumbo-Villarreal have argued, “The adoption of distillation was likely not simply imposed, but creatively adapted to local knowledge systems.”

    A third perspective, which other researchers and I are exploring, traces a potential Filipino influence. The galleon trade brought thousands of Filipino sailors and laborers to Mexico, particularly along the Pacific coast. In places such as Guerrero, Colima and Jalisco, Filipino migrants introduced methods for fermenting and distilling coconut sap into lambanog, the coconut-based spirit.

    The stills they used, sometimes called Mongolian stills, were built with clay and bamboo and included a condensation bowl. Historian Pablo Guzman-Rivas has noted that these stills more closely resemble the earliest Mexican agave distillation setups than European alembics. He has also documented oral traditions in some coastal Mexican communities to link local distillation practices to their Filipino ancestors.

    The still on the left in Jalisco, Mexico, has similarities to the lambanog on the right from Infanta, Quezon, Philippines.
    Photo on left courtesy of Patricia Colunga-GarcíaMarín and Daniel Zizumbo-Villarreal; photo on right courtesy of Sherry Ann Angeles and Rading Coronacion, CC BY-SA

    Beyond the bottle

    Filipino influence extends beyond the distilling pot.

    In Colima and other Pacific port towns, traces of the Manila galleon trade ripple through daily life – in kitchens, cantinas and even in architecture. The word “palapa,” used in Mexico and Central America today to describe rustic thatched roofs, is exactly the same as the term for coconut fronds that’s primarily used in the Bicol Region of the Philippines.

    Filipino migrants in Mexico also shared knowledge of boatbuilding, fermentation and food preservation. Coconut vinegar, fish sauce and palm sugar-based condiments became part of Mexican cuisine. One of the most enduring legacies is tuba, the fermented coconut sap still popular in coastal areas of the Mexican state of Guerrero, where Filipino sailors once settled. Known locally by the same name, tuba is sold in markets and along roadsides, often enjoyed as a refreshing drink or as a cooking ingredient.

    A replica of a galleon, the Spanish trading ship that traversed the world’s oceans from the 16th century to the 18th century.
    Dennis Jarvis/flickr, CC BY-SA

    Exchange moved both ways. Filipino vessels carried corn, peanuts, sweet potatoes and cacao back across the Pacific, reshaping food in the Philippines. These exchanges took place under the shadow of colonialism and forced labor, but their legacies endure in language, in taste and even in the roofs over people’s heads.

    Technical knowledge rarely travels through official channels alone. It moves with cooks in ship galleys, with carpenters below deck, with laborers who desert ships to settle in unfamiliar ports. Sometimes it was a way to build a roof or preserve a flavor. Other times, it was a method for turning a fermented plant into a spirit that could keep for long voyages. And by the early 1600s, new types of distilled agave spirits were being made in Mexico.

    Tequila is unmistakably a product of Mexico. But it is also a product of movement. Whether Filipino migrants directly introduced distillation methods or whether they emerged from a mix of Indigenous experimentation and European tools, every time you sip tequila, you’re tasting an echo of those long ocean crossings from many centuries ago.

    Stephen Acabado receives funding from the Henry Luce Foundation and the National Science Foundation.

    ref. Filipino sailors dock in Mexico … and help invent tequila? – https://theconversation.com/filipino-sailors-dock-in-mexico-and-help-invent-tequila-258166

    MIL OSI

  • MIL-OSI Security: Foreign National Sentenced for Conspiring to Export U.S.-Made Drill Rigs to Iran in Violation of U.S. Sanctions Laws

    Source: United States Department of Justice Criminal Division

    Brian Assi, also known as Brahim Assi, 63, of Beirut, Lebanon, was sentenced to 44 months in prison for conspiring to violate the International Emergency Economic Powers Act (IEEPA) and the Iranian Transactions and Sanctions Regulations (ITSR), attempted unlawful export of goods from the United States to Iran without a license, attempted smuggling goods from the United States, submitting false or misleading export information, and conspiracy to commit money laundering.

    “The defendant conspired to export millions of dollars of U.S.-made heavy machinery to Iran, a leading state sponsor of terrorism,” said John A. Eisenberg, Assistant Attorney General for National Security. “The National Security Division will find and prosecute those who illegally sell American products to our adversaries.”

    “The defendant threatened U.S. economic and national security by conspiring and concealing his efforts to circumvent our export controls to provide heavy machinery to Iran, a designated state sponsor of terrorism for the past 40 years,” said U.S. Attorney John P. Heckin for the Northern District of Florida. “My office will continue to aggressively pursue anyone who violates our laws and offers material support to America’s enemies.”

    Assi was convicted of the charges in October 2024. According to evidence presented at trial, Assi was a Middle East-based salesman of a multinational heavy machinery manufacturer with a U.S.-based subsidiary and production plant located in Alachua, Florida. Assi conspired with individuals affiliated with Sakht Abzar Pars Co. (SAP-Iran), based in Tehran, Iran, to export U.S.-made heavy machinery indirectly to Iran without first obtaining the required licenses from the Office of Foreign Assets Control (OFAC).

    Assi and his Iranian co-conspirators orchestrated the scheme by locating an Iraq-based distributor to serve as the forward-facing purchaser of two U.S.-origin blasthole drills from the U.S. subsidiary of Assi’s employer. The drills are a type of heavy machinery used to create holes in the ground that are then filled with controlled explosives for mining.

    Assi facilitated the sale of the drills and attempted export them to Iran and used freight forwarding companies to ship the heavy equipment from the U.S. to Turkey. In doing so, Assi concealed any Iranian involvement in the transaction from his employer, claiming the drills were ultimately destined for use in Iraq. But in truth, Assi intended for his Iranian co-conspirators to transship or reexport those items from Turkey to Iran, in circumvention of the U.S. export control and sanction laws.

    In furtherance of the conspiracy, Assi concealed his activities with his Iranian co-conspirators by causing false information to be entered into the Automated Export System (AES), a U.S.-government database containing information about exports from the United States. The U.S.-based plant hired a U.S. freight forwarder to arrange the drill’s export from the U.S. to Iraq. As part of the shipping process, the freight forwarder submitted information to AES about the shipment, including the ultimate consignee’s name and the ultimate delivery destination. Assi misled his employer by claiming that the Iraqi distributor was the ultimate consignee, and that the ultimate delivery destination was Iraq. In fact, Assi knew that his co-conspirators in Iran were the true intended recipients, and Iran was the ultimate intended delivery destination.

    In furtherance of the illicit transaction, Assi and his co-conspirators caused the transfer of approximately $2.7 million from Turkey to pass through the United States.

    The Commerce Department Bureau of Industry and Security’s Office of Export Enforcement investigated the case.

    Assistant U.S. Attorneys Andrew J. Grogan and Harley W. Ferguson for the Northern District of Florida and Trial Attorney Ahmed Almudallal of the National Security Division’s Counterintelligence and Export Control Section prosecuted the case.

    MIL Security OSI

  • MIL-OSI USA: Foreign National Sentenced for Conspiring to Export U.S.-Made Drill Rigs to Iran in Violation of U.S. Sanctions Laws

    Source: US Justice – Antitrust Division

    Headline: Foreign National Sentenced for Conspiring to Export U.S.-Made Drill Rigs to Iran in Violation of U.S. Sanctions Laws

    Brian Assi, also known as Brahim Assi, 63, of Beirut, Lebanon, was sentenced to 44 months in prison for conspiring to violate the International Emergency Economic Powers Act (IEEPA) and the Iranian Transactions and Sanctions Regulations (ITSR), attempted unlawful export of goods from the United States to Iran without a license, attempted smuggling goods from the United States, submitting false or misleading export information, and conspiracy to commit money laundering. 

    MIL OSI USA News

  • MIL-OSI: First Community Bankshares, Inc. Announces Acquisition of Hometown Bancshares, Inc.

    Source: GlobeNewswire (MIL-OSI)

    BLUEFIELD, Va., July 21, 2025 (GLOBE NEWSWIRE) — First Community Bankshares, Inc. (“First Community”) (NASDAQ: FCBC), headquartered in Bluefield, VA, and Hometown Bancshares, Inc. (“Hometown”), headquartered in Middlebourne, WV, jointly announced today their entry into an Agreement and Plan of Merger (the “Agreement”). Pursuant to this Agreement, First Community will acquire Hometown, and First Community’s banking subsidiary, First Community Bank, will acquire Hometown’s banking subsidiary, Union Bank, Inc. As of June 30, 2025, Union Bank had total assets of approximately $402 million. Upon completion of the transaction, First Community is expected to have total consolidated assets of approximately $3.6 billion with 60 branch locations in four states.

    This merger aligns with First Community’s strategic focus on growing low-cost core deposits and positions the combined entity to expand its presence in the Parkersburg-Marietta-Vienna MSA. “First Community has a 150-year history of community banking excellence in West Virginia. Our partnership with Hometown and Union Bank is a natural expansion into West Virginia markets that are similar in size and makeup to the locations where we’ve had great success across our broader banking footprint. We look forward to bringing the two franchises together to better serve our customers and local communities” said Gary R. Mills, President and CEO of First Community Bank.

    Tim Aiken, President, CEO and Director of Hometown and Union Bank, commented, “When considering a long-term partner, we sought a community-minded bank that shares our commitment to providing top-tier banking services with that personal touch. Also, First Community Bank will bring services to our communities that Union Bank currently does not provide, such as Trust and Wealth Management services. We are confident that our combined franchise will serve our communities well and continue to create value for our customers, shareholders, and employees.”

    “We are pleased to announce our partnership with Union Bank. This collaboration will further strengthen our robust banking franchise in West Virginia. We believe First Community will benefit from Union’s strong deposit base, while Union’s customers will enjoy the advantages of increased scale, higher lending limits, and enhanced product and technology offerings from First Community,” said William (Will) P. Stafford, II, Chairman and Chief Executive Officer of First Community.

    The Agreement provides for the merger of Hometown with and into First Community, with First Community as the surviving corporation. Under the terms of the Agreement, each outstanding share of Hometown common stock will be converted into the right to receive 11.706 shares of First Community common stock, which equates to $472.10 per share of Hometown common stock and an aggregate transaction value of approximately $41.5 million based on a closing price for First Community common stock of $40.33 as of July 18, 2025. First Community expects the transaction to be minimally dilutive to tangible book value per share (non-GAAP) and to provide high-single digit accretion to earnings per share.

    The transaction, which received unanimous approval from both First Community’s and Hometown’s Boards of Directors, is subject to customary closing conditions, including the approval of Hometown’s shareholders and the receipt of all required regulatory approvals. The transaction is expected to be consummated in the first quarter of 2026. At that time, First Community anticipates welcoming Union Bank’s Chief Executive Officer, Tim Aiken, to the First Community team.

    D.A. Davidson & Co. served as financial advisor to First Community, and Bowles Rice LLP served as legal counsel. Hovde Group, LLC served as financial advisor to Hometown, and Hunton Andrews Kurth LLP served as legal counsel.

    About First Community Bankshares, Inc.

    First Community is a financial holding company headquartered in Bluefield, Virginia that provides banking products and services through its wholly owned subsidiary First Community Bank. First Community Bank operates 52 branch banking locations in Virginia, West Virginia, North Carolina, and Tennessee. The company reported consolidated assets of $3.2 billion as of March 31, 2025. The company’s common stock is listed on the NASDAQ Global Select Market under the trading symbol “FCBC.” Additional investor information is available on the company’s website at www.firstcommunitybank.com.

    About Hometown Bancshares, Inc.

    Hometown, located in Middlebourne, WV, offers banking products and services through its wholly owned subsidiary Union Bank. Union Bank operates eight locations in Northern West Virginia and has assets totaling $402 million as of June 30, 2025. Union Bank is committed to providing exceptional service to its customers while being an exemplary corporate citizen in the communities it serves.

    Investor Contacts:

    David D. Brown
    Chief Financial Officer
    First Community Bankshares, Inc.
    Phone: (276) 326-9000

    Important Information for Shareholders
    This press release shall not constitute an offer to sell, the solicitation of an offer to sell, or the solicitation of an offer to buy any securities or the solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. In connection with the proposed transaction, First Community Bankshares, Inc. (“First Community or FCBC”) will file a registration statement on Form S-4 with the Securities and Exchange Commission (the “SEC”), which will contain the proxy statement of Hometown Bancshares, Inc. (“Hometown”) and a prospectus of First Community. Shareholders of Hometown are encouraged to read the registration statement, including the proxy statement/prospectus that will be part of the registration statement, because it will contain important information about the proposed transaction, Hometown, and First Community. After the registration statement is filed with the SEC, the proxy statement/prospectus and other relevant documents will be mailed to Hometown shareholders and will be available for free on the SEC’s website (www.sec.gov) and First Community’s website at https://ir.fcbresource.com under the tab “SEC Filings”. The proxy statement/prospectus will also be made available for free by contacting the Corporate Secretary of First Community at P.O. Box 989, Bluefield, Virginia 24605-0989; telephone (276) 326-9000. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

    Participants in the Transactions
    First Community, Hometown and their respective directors, executive officers and certain other members of management and employees may be deemed “participants” in the solicitation of proxies from Hometown’s shareholders in favor of the merger with First Community. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the Hometown shareholders in connection with the proposed merger will be set forth in the proxy statement/prospectus when it is filed with the SEC.

    You can find information about the executive officers and directors of First Community in its Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 7, 2025, and in its definitive proxy statement filed with the SEC on March 10, 2025. You can find information about Hometown’s executive officers and directors by accessing Hometown’s website at www.hometownbanc.bank under the tab “About Union Bank” and then under the heading “About Us”. You can obtain free copies of these documents from First Community using the contact information above.

    Forward-Looking Statements
    This joint press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements, including statements regarding the intent, belief, or current expectations of First Community’s management regarding the company’s strategic direction, prospects, or future results or the benefits of the proposed transaction, are subject to numerous risks and uncertainties. These forward-looking statements are based upon the current beliefs and expectations of the respective managements of First Community and Hometown and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of First Community and Hometown. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the anticipated results discussed in these forward-looking statements because of possible uncertainties. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: (1) the risk that the cost savings and revenue synergies anticipated in connection with the proposed transaction may not be realized or may take longer than anticipated to be realized, (2) disruption from the proposed transaction with customers, suppliers, or employee or other business relationships, (3) the occurrence of any event, change, or other circumstances that could give rise to the termination of the Agreement and plan of merger, (4) the risk of successful integration of the two organizations’ businesses, (5) the failure of Hometown shareholders to approve the proposed transaction, (6) the amount of costs, fees, expenses, and charges related to the proposed transaction, (7) the ability to obtain required governmental and regulatory approvals for the proposed transaction, (8) reputational risk and the reaction of the parties’ customers to the proposed transaction, (9) the failure of the conditions to closing of the proposed transaction to be satisfied, (10) the risk that the integration of Hometown’s operations with those of First Community will be materially delayed or will be more costly or difficult than expected, (11) the possibility that the proposed transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events, (12) the dilution caused by First Community’s issuance of additional shares of its common stock in the proposed transaction, (13) changes in management’s plans for the future, (14) prevailing economic and political conditions, particularly in our market areas, (15) credit risk associated with our lending activities, (16) changes in interest rates, loan demand, real estate values, and competition, (17) changes in accounting principles, policies, or guidelines, (18) changes in applicable laws, rules, or regulations, and (19) other competitive, economic, political, and market factors affecting our business, operations, pricing, products, and services. Certain additional factors which could affect the forward-looking statements can be found in First Community’s annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K, in each case filed with or furnished to the SEC and available on the SEC’s website at http://www.sec.gov. First Community and Hometown caution that the foregoing list of factors is not exclusive. All subsequent written and oral forward-looking statements concerning the proposed transaction or other matters attributable to First Community or Hometown or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. First Community and Hometown disclaim any obligation to update or revise any forward-looking statements contained in this press release, which speak only as of the date hereof, whether as a result of new information, future events, or otherwise.

    The MIL Network

  • EU to ramp up retaliation plans as US tariff deal prospects dim

    Source: Government of India

    Source: Government of India (4)

    The European Union is exploring a broader set of possible counter-measures against the United States as prospects for an acceptable trade agreement with Washington fade, according to EU diplomats.

    An increasing number of EU members, including Germany, are now considering using wide-ranging “anti-coercion” measures which would let the bloc target U.S. services and other sectors in the absence of a deal, diplomats say.

    The European Commission, which negotiates trade agreements on behalf of the 27-member bloc, had appeared on course for a agreement in which the EU would still have faced a 10% U.S. tariff on most of its exports, with some concessions.

    Such hopes now seem dashed after President Donald Trump’s threat to impose a 30% tariff by August 1, and following talks between EU Trade Commissioner Maros Sefcovic and U.S. counterparts in Washington last week.

    Sefcovic, who has said a 30% tariff would “practically prohibit” transatlantic trade, delivered a sober report on the current state of play to EU envoys on Friday, diplomats told Reuters.

    U.S. counterparts had come up with diverging solutions during his meetings, including a baseline rate that could be well above 10%, the EU diplomats added.

    “Each interlocutor seemed to have different ideas. No one can tell (Sefcovic) what would actually fly with Trump,” one diplomat said.

    Prospects of easing or removing 50% U.S. tariffs on steel and aluminium and 25% on cars and car parts appear limited.

    ‘NUCLEAR OPTION’

    Washington has also rejected the EU’s demand for a “standstill” arrangement, whereby no further tariffs would be imposed after a deal is struck. The rationale, according to diplomats, is that Trump’s hands cannot be tied on national security, the basis of Section 232 trade investigations into pharmaceuticals, semiconductors and timber.

    Accordingly, the mood has pivoted among EU countries, EU diplomats say, and they are more ready to react, even though a negotiated solution is their preferred option.

    The EU has one package of tariffs on 21 billion euros ($24.5 billion) of U.S. goods that is currently suspended until August 6. The bloc must still decide on a further set of countermeasures on 72 billion euros of U.S. exports.

    Discussions have also increased on using the EU’s wide-ranging “anti-coercion” instrument (ACI) that allows the bloc to retaliate against third countries that put economic pressure on member states to change their policies.

    Brought in more with China in mind, it would allow the bloc to target U.S. services, limit U.S. companies’ access to public procurement or financial services markets or restrict U.S. investment.

    France has consistently advocated using the ACI, but others have baulked at what some see as a nuclear option. Trump has warned he will retaliate if other countries take action against the United States.

    European Commission President Ursula von der Leyen said a week ago that the ACI was created for extraordinary situations, adding: “We are not there yet.”

    The Commission would need a qualified majority of 15 countries making up 65% of the EU population to invoke it. It would not do so unless it was confident of passing it, but there are now growing signs of support building, with Germany among the countries saying it should be considered, EU diplomats say.

    (Reuters)

  • EU to ramp up retaliation plans as US tariff deal prospects dim

    Source: Government of India

    Source: Government of India (4)

    The European Union is exploring a broader set of possible counter-measures against the United States as prospects for an acceptable trade agreement with Washington fade, according to EU diplomats.

    An increasing number of EU members, including Germany, are now considering using wide-ranging “anti-coercion” measures which would let the bloc target U.S. services and other sectors in the absence of a deal, diplomats say.

    The European Commission, which negotiates trade agreements on behalf of the 27-member bloc, had appeared on course for a agreement in which the EU would still have faced a 10% U.S. tariff on most of its exports, with some concessions.

    Such hopes now seem dashed after President Donald Trump’s threat to impose a 30% tariff by August 1, and following talks between EU Trade Commissioner Maros Sefcovic and U.S. counterparts in Washington last week.

    Sefcovic, who has said a 30% tariff would “practically prohibit” transatlantic trade, delivered a sober report on the current state of play to EU envoys on Friday, diplomats told Reuters.

    U.S. counterparts had come up with diverging solutions during his meetings, including a baseline rate that could be well above 10%, the EU diplomats added.

    “Each interlocutor seemed to have different ideas. No one can tell (Sefcovic) what would actually fly with Trump,” one diplomat said.

    Prospects of easing or removing 50% U.S. tariffs on steel and aluminium and 25% on cars and car parts appear limited.

    ‘NUCLEAR OPTION’

    Washington has also rejected the EU’s demand for a “standstill” arrangement, whereby no further tariffs would be imposed after a deal is struck. The rationale, according to diplomats, is that Trump’s hands cannot be tied on national security, the basis of Section 232 trade investigations into pharmaceuticals, semiconductors and timber.

    Accordingly, the mood has pivoted among EU countries, EU diplomats say, and they are more ready to react, even though a negotiated solution is their preferred option.

    The EU has one package of tariffs on 21 billion euros ($24.5 billion) of U.S. goods that is currently suspended until August 6. The bloc must still decide on a further set of countermeasures on 72 billion euros of U.S. exports.

    Discussions have also increased on using the EU’s wide-ranging “anti-coercion” instrument (ACI) that allows the bloc to retaliate against third countries that put economic pressure on member states to change their policies.

    Brought in more with China in mind, it would allow the bloc to target U.S. services, limit U.S. companies’ access to public procurement or financial services markets or restrict U.S. investment.

    France has consistently advocated using the ACI, but others have baulked at what some see as a nuclear option. Trump has warned he will retaliate if other countries take action against the United States.

    European Commission President Ursula von der Leyen said a week ago that the ACI was created for extraordinary situations, adding: “We are not there yet.”

    The Commission would need a qualified majority of 15 countries making up 65% of the EU population to invoke it. It would not do so unless it was confident of passing it, but there are now growing signs of support building, with Germany among the countries saying it should be considered, EU diplomats say.

    (Reuters)

  • MIL-OSI Economics: [Opinion] Samsung in Collaboration with DTIC: Creating Meaningful Employment & Strengthening SA Economy through EEIP

    Source: Samsung

     

     
    According to research by Thrive CFO*: Small businesses in South Africa face numerous challenges, including access to funding, competition from larger companies, limited market reach, high operating costs, lack of skilled labour, regulatory compliance, cybersecurity threats, cash flow management, limited access to technology and environmental sustainability. *
     
    To help small enterprises in South Africa to overcome some of these challenges, Samsung in collaboration with the Department of Trade, Industry and Competition (DTIC) has – under its R280-million worth Equity Equivalent Investment Programme (EEIP), which was launched in 2019 – formulated programmes that address some of government’s priorities as well as Information and Communication Technology (ICT) challenges.
     
    This multi-million rand EEIP programme aims to empower black owned and local SMEs with a particular focus on women and start-up businesses in the ICT sector. It supports skills development, enterprise development and job creation to contribute to black economic empowerment. The EEIP is part of Samsung’s broader commitment to social responsibility and economic development within South Africa.
     
    Samsung’s EEIP programme is closely aligned to the overarching objectives of the National Development Plan (NDP) Vision for 2030 and South Africa’s framework of broad-based black economic empowerment (B-BBEE) – providing a mechanism for multi-nationals to contribute towards the development of black South Africans.
     
    This framework has allowed our company to contribute to B-BBEE goals through alternative investments, including investments in black-owned businesses, ICT development and skills development. Our EEIP programme focuses on strengthening black economic empowerment by supporting ICT entrepreneurs and fostering technological advancement, ultimately contributing to socio-economic development and job creation. South Africa’s NDP envisions a thriving SME sector as a cornerstone of the country’s inclusive, resilient economy by 2030.
     
    In essence, the NDP sees SMEs as a crucial engine for economic growth, job creation and poverty reduction. This strategic plan for South Africa’s future outlines various tactics to foster SME development and ensure their long-term success. Our government, which includes our collaborative partner, DTIC, believe that SMEs can create the majority of new jobs in the country – contributing significantly to economic growth as well as play a vital role in the reduction of poverty and inequality.
     
    As Samsung, we also understand how much entrepreneurship contributes to job creation, community development and how it fosters innovation and drives economic growth. For that reason, Samsung EEIP programme and DTIC have opened the third Call to Market for the Transformative SME Development Programme – targeting suitable ICT entrepreneurs in the country, that are eager to grow their businesses for funding and support.
     
    This transformative SME Development Programme seeks to support local entrepreneurs throughout their journey as well as driving a culture of innovation and digital solutions. So, in an effort to go beyond meeting our obligations towards government and demonstrate our ongoing investment in SME development – we are in the process of recruiting suitable SMEs to participate in this EEIP SME Development Programme with the ultimate aim of contributing to economic growth and job creation.
     
    In the last two years, our criteria for this EEIP SME Development Programme focused on targeting SMEs that had been operating in the ICT and Service Centre space for at least a minimum of three years with a turnover that is less than R50M per annum. This year, our EEIP SME Development Programme “Call to Market” campaign for entries has gone with a unique approach that aims to make a tangible difference in the lives of local ICT SMEs. We have changed our focus to include start-up, micro-enterprises that are still in their infancy stage and also put a strong focus on women-owned businesses.
     
    In collaboration with DTIC, we understand that start-up businesses are generally considered high-risk ventures, particularly in the early stages. We have therefore put in place some mitigating measures coupled with key performance indicators (KPI’s) to help manage these micro-enterprises efficiently and overcome any challenges that might come our way. The specific KPIs that are used in this EEIP SME Development Programme include:
     

    Economic Impact – looks at accumulative investment in SME development, capacity building as well as the contribution to the South African economy. Also, this KPI looks at job creation, growth in revenue and the profitability of supported SMEs.
    Enterprise Development – evaluates the number of SMEs specifically black-owned as well as those that are township-based and the number of businesses supported.
    Capacity Building: looks at the number of individuals trained or upskilled, improvements in business management skills as well as access to new markets and technologies. And lastly,
    Sustainability: The environmental impact of supported businesses, long-term viability of supported SMEs as well as the number of black-owned businesses and townships-based that are supported.

     
    We made these changes because we understand the need to develop local start-up enterprises and also how gender representation plays a crucial role in the development of entrepreneurs in the country. Importantly, we strongly believe that gender inclusion in the ICT entrepreneurship space will help to unlock economic potential, drive innovation and create a more equitable and sustainable future.
     
    With this new approach in this year’s EEIP SME Development Programme, we are now able to offer a larger pool of eligible ICT SMEs in the country an opportunity to access grant funding and enterprise development support to help propel their businesses to greater heights. This improved approach aims to identify gems in the market and offer them holistic support which also includes Business Development assistance (mentoring and coaching) to help in fostering growth, a dynamic and connected information society as well as a knowledge economy.
     
    This essentially means that this holistic approach in our transformative EEIP SME Development Programme does not only focus on developing technical skills (for those organisations in the ICT sector), but also other key entrepreneurial capabilities such as soft skills that can help create sustainable businesses in South Africa and enable them to become engines for job creation.
     
    Also, our business development initiatives include an Enterprise Development Bootcamp that is part of Samsung’s EEIP Programme – which helps young entrepreneurs launch and grow their businesses. This fast-paced four –month long, Bootcamp programme focuses on developing entrepreneurial skills and supporting Black-owned businesses in South Africa, particularly in the areas of Service Centre repairs and ICT. It aims to accelerate and grow businesses by providing entrepreneurs with training, mentorship, and financial support. 
     
    Samsung’s EEIP programme – now in its seven years of sustained success and this Enterprise Development “Call to Market” which represents the 3rd edition of our programme seeks to continue making a measurable difference to the socio-economic development of black South Africans. This year’s call follows two successful cycles and forms part of our broader commitment to the ICT sector, SME development and Vision 2030.
     
    This is our way of ensuring that we empower South Africa’s digital future by helping ICT entrepreneurs thrive as we deepen our commitment and collaboration with DTIC. The success of this EEIP SME Development Programme is highlighting the significant milestone of our EEIP in the country and the profound impact it has had on the nation’s ICT sector in conjunction with the DTIC.
     
    Our programme’s alignment with South Africa’s Vision 2030 and its success to date – has positioned this transformative SME Development Programme as one of the notably -value adding EEIPs in the sector. Furthermore, our strong and successful collaboration with the DTIC in strengthening the ICT sector through the EEIP – now complemented by our focus on providing support to start-ups in the infancy stage while also ensuring gender representation in this year’s SME Development Programme – is a true testament to shared goals for national development in the country.
     

    MIL OSI Economics

  • MIL-OSI Economics: [Opinion] Samsung in Collaboration with DTIC: Creating Meaningful Employment & Strengthening SA Economy through EEIP

    Source: Samsung

     

     
    According to research by Thrive CFO*: Small businesses in South Africa face numerous challenges, including access to funding, competition from larger companies, limited market reach, high operating costs, lack of skilled labour, regulatory compliance, cybersecurity threats, cash flow management, limited access to technology and environmental sustainability. *
     
    To help small enterprises in South Africa to overcome some of these challenges, Samsung in collaboration with the Department of Trade, Industry and Competition (DTIC) has – under its R280-million worth Equity Equivalent Investment Programme (EEIP), which was launched in 2019 – formulated programmes that address some of government’s priorities as well as Information and Communication Technology (ICT) challenges.
     
    This multi-million rand EEIP programme aims to empower black owned and local SMEs with a particular focus on women and start-up businesses in the ICT sector. It supports skills development, enterprise development and job creation to contribute to black economic empowerment. The EEIP is part of Samsung’s broader commitment to social responsibility and economic development within South Africa.
     
    Samsung’s EEIP programme is closely aligned to the overarching objectives of the National Development Plan (NDP) Vision for 2030 and South Africa’s framework of broad-based black economic empowerment (B-BBEE) – providing a mechanism for multi-nationals to contribute towards the development of black South Africans.
     
    This framework has allowed our company to contribute to B-BBEE goals through alternative investments, including investments in black-owned businesses, ICT development and skills development. Our EEIP programme focuses on strengthening black economic empowerment by supporting ICT entrepreneurs and fostering technological advancement, ultimately contributing to socio-economic development and job creation. South Africa’s NDP envisions a thriving SME sector as a cornerstone of the country’s inclusive, resilient economy by 2030.
     
    In essence, the NDP sees SMEs as a crucial engine for economic growth, job creation and poverty reduction. This strategic plan for South Africa’s future outlines various tactics to foster SME development and ensure their long-term success. Our government, which includes our collaborative partner, DTIC, believe that SMEs can create the majority of new jobs in the country – contributing significantly to economic growth as well as play a vital role in the reduction of poverty and inequality.
     
    As Samsung, we also understand how much entrepreneurship contributes to job creation, community development and how it fosters innovation and drives economic growth. For that reason, Samsung EEIP programme and DTIC have opened the third Call to Market for the Transformative SME Development Programme – targeting suitable ICT entrepreneurs in the country, that are eager to grow their businesses for funding and support.
     
    This transformative SME Development Programme seeks to support local entrepreneurs throughout their journey as well as driving a culture of innovation and digital solutions. So, in an effort to go beyond meeting our obligations towards government and demonstrate our ongoing investment in SME development – we are in the process of recruiting suitable SMEs to participate in this EEIP SME Development Programme with the ultimate aim of contributing to economic growth and job creation.
     
    In the last two years, our criteria for this EEIP SME Development Programme focused on targeting SMEs that had been operating in the ICT and Service Centre space for at least a minimum of three years with a turnover that is less than R50M per annum. This year, our EEIP SME Development Programme “Call to Market” campaign for entries has gone with a unique approach that aims to make a tangible difference in the lives of local ICT SMEs. We have changed our focus to include start-up, micro-enterprises that are still in their infancy stage and also put a strong focus on women-owned businesses.
     
    In collaboration with DTIC, we understand that start-up businesses are generally considered high-risk ventures, particularly in the early stages. We have therefore put in place some mitigating measures coupled with key performance indicators (KPI’s) to help manage these micro-enterprises efficiently and overcome any challenges that might come our way. The specific KPIs that are used in this EEIP SME Development Programme include:
     

    Economic Impact – looks at accumulative investment in SME development, capacity building as well as the contribution to the South African economy. Also, this KPI looks at job creation, growth in revenue and the profitability of supported SMEs.
    Enterprise Development – evaluates the number of SMEs specifically black-owned as well as those that are township-based and the number of businesses supported.
    Capacity Building: looks at the number of individuals trained or upskilled, improvements in business management skills as well as access to new markets and technologies. And lastly,
    Sustainability: The environmental impact of supported businesses, long-term viability of supported SMEs as well as the number of black-owned businesses and townships-based that are supported.

     
    We made these changes because we understand the need to develop local start-up enterprises and also how gender representation plays a crucial role in the development of entrepreneurs in the country. Importantly, we strongly believe that gender inclusion in the ICT entrepreneurship space will help to unlock economic potential, drive innovation and create a more equitable and sustainable future.
     
    With this new approach in this year’s EEIP SME Development Programme, we are now able to offer a larger pool of eligible ICT SMEs in the country an opportunity to access grant funding and enterprise development support to help propel their businesses to greater heights. This improved approach aims to identify gems in the market and offer them holistic support which also includes Business Development assistance (mentoring and coaching) to help in fostering growth, a dynamic and connected information society as well as a knowledge economy.
     
    This essentially means that this holistic approach in our transformative EEIP SME Development Programme does not only focus on developing technical skills (for those organisations in the ICT sector), but also other key entrepreneurial capabilities such as soft skills that can help create sustainable businesses in South Africa and enable them to become engines for job creation.
     
    Also, our business development initiatives include an Enterprise Development Bootcamp that is part of Samsung’s EEIP Programme – which helps young entrepreneurs launch and grow their businesses. This fast-paced four –month long, Bootcamp programme focuses on developing entrepreneurial skills and supporting Black-owned businesses in South Africa, particularly in the areas of Service Centre repairs and ICT. It aims to accelerate and grow businesses by providing entrepreneurs with training, mentorship, and financial support. 
     
    Samsung’s EEIP programme – now in its seven years of sustained success and this Enterprise Development “Call to Market” which represents the 3rd edition of our programme seeks to continue making a measurable difference to the socio-economic development of black South Africans. This year’s call follows two successful cycles and forms part of our broader commitment to the ICT sector, SME development and Vision 2030.
     
    This is our way of ensuring that we empower South Africa’s digital future by helping ICT entrepreneurs thrive as we deepen our commitment and collaboration with DTIC. The success of this EEIP SME Development Programme is highlighting the significant milestone of our EEIP in the country and the profound impact it has had on the nation’s ICT sector in conjunction with the DTIC.
     
    Our programme’s alignment with South Africa’s Vision 2030 and its success to date – has positioned this transformative SME Development Programme as one of the notably -value adding EEIPs in the sector. Furthermore, our strong and successful collaboration with the DTIC in strengthening the ICT sector through the EEIP – now complemented by our focus on providing support to start-ups in the infancy stage while also ensuring gender representation in this year’s SME Development Programme – is a true testament to shared goals for national development in the country.
     

    MIL OSI Economics

  • MIL-OSI: Roper Technologies announces second quarter financial results and acquisition of Subsplash; Increasing full year guidance

    Source: GlobeNewswire (MIL-OSI)

    SARASOTA, Fla., July 21, 2025 (GLOBE NEWSWIRE) — Roper Technologies, Inc. (Nasdaq: ROP) reported financial results for the second quarter ended June 30, 2025.

    Second quarter 2025 highlights

    • Revenue increased 13% to $1.94 billion; organic revenue was +7% and acquisition contribution was +6%
    • GAAP net earnings increased 12% to $378 million; adjusted net earnings increased 9% to $528 million
    • Adjusted EBITDA increased 12% to $775 million
    • GAAP operating cash flow increased 5% to $404 million; adjusted operating cash flow increased 13% to $434 million
    • GAAP DEPS increased 12% to $3.49; adjusted DEPS increased 9% to $4.87

    “We delivered another strong quarter, highlighted by 13% total revenue growth, 7% organic revenue growth, and 10% free cash flow growth,” said Neil Hunn, Roper Technologies’ President and CEO. “Our businesses continued to execute at a high level, while further innovating and investing to drive durable, long-term growth. We are particularly excited about how AI capabilities are enhancing our solutions and creating new opportunities, broadly, across our portfolio. Our second quarter growth was balanced across all three segments, as expected, and positions us well for a strong second half.”

    “We are once again increasing our full year outlook, supported by our strong second quarter results, the continued expansion of our recurring revenue base, and resilient demand for our businesses’ mission critical solutions. With significant M&A capacity and our proven acquisition model, we remain well positioned to execute our disciplined capital deployment strategy against a large pipeline of attractive opportunities. The combination of our durable business portfolio and proven M&A capability continues to fuel compelling long-term cash flow compounding for our shareholders.”

    Subsplash acquisition

    Last week, Roper signed a definitive agreement to acquire Subsplash, a leading provider of AI-enabled, cloud-based software and fintech solutions that serve over 20,000 faith-based organizations and churches, for a purchase price of $800 million.

    “Subsplash is a terrific business that meets each of our long-standing acquisition criteria while enhancing shareholder value creation with its high-teens organic growth profile and the ability to expand margins under Roper’s long-term ownership. We are excited to welcome the Subsplash team to the Roper family and look forward to partnering with them to execute their long-term growth strategy. We see significant potential for Subsplash to further advance their AI capabilities and deliver powerful solutions that will drive increased engagement for their customers,” concluded Mr. Hunn.

    Increasing 2025 guidance

    Roper now expects full year 2025 adjusted DEPS of $19.90 – $20.05, compared to previous guidance of $19.80 – $20.05. The Company increased its full year total revenue growth outlook to ~13%, compared to a previous outlook of ~12%, and continues to expect organic revenue growth of +6 – 7%.

    For the third quarter of 2025, the Company expects adjusted DEPS of $5.08 – $5.12.

    Roper’s guidance includes the impact of the Subsplash acquisition, which is expected to close later this month. The Company’s guidance excludes the impact of unannounced future acquisitions or divestitures.

    Conference call to be held at 8:00 AM (ET) today

    A conference call to discuss these results has been scheduled for 8:00 AM ET on Monday, July 21, 2025. The call can be accessed via webcast or by dialing +1 800-836-8184 (US/Canada) or +1 646-357-8785, using conference call ID 87418. Webcast information and conference call materials will be made available in the Investors section of Roper’s website (www.ropertech.com) prior to the start of the call. The webcast can also be accessed directly by using the following URL https://event.webcast. Telephonic replays will be available for up to two weeks and can be accessed by dialing +1 646-517-4150 with access code 87418#.

    Use of non-GAAP financial information

    The Company supplements its consolidated financial statements presented on a GAAP basis with certain non-GAAP financial information to provide investors with greater insight, increase transparency and allow for a more comprehensive understanding of the information used by management in its financial and operational decision-making. Reconciliation of non-GAAP measures to their most directly comparable GAAP measures are included in the accompanying financial schedules or tables. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP, and the financial results prepared in accordance with GAAP and reconciliations from these results should be carefully evaluated.

    Minority interest

    Following the sale of a majority stake in its industrial businesses to CD&R, Roper holds a minority interest in Indicor. The fair value of Roper’s equity investment in Indicor is updated on a quarterly basis and reported as “equity investments (gain) loss, net.” Roper makes non-GAAP adjustments for the impacts associated with this investment.

    Table 1: Revenue and adjusted EBITDA reconciliation ($M)
      Q2 2024   Q2 2025   V %
    GAAP revenue $ 1,717     $ 1,944       13 %
               
    Components of revenue growth          
    Organic           7 %
    Acquisitions           6 %
    Foreign exchange           %
    Revenue growth           13 %
               
    Adjusted EBITDA reconciliation          
    GAAP net earnings $ 337     $ 378      
    Taxes   88       107      
    Interest expense   68       79      
    Depreciation   9       10      
    Amortization   192       213      
    EBITDA $ 694     $ 788       14 %
               
    Transaction-related expenses for completed
    acquisitions
            4      
    Financial impacts associated with the minority
    investments in Indicor & Certinia
      1       (17 ) A  
    Adjusted EBITDA $ 695     $ 775       12 %
    Adjusted EBITDA margin   40.5 %     39.9 %     (60 bps )
    Table 2: Adjusted net earnings reconciliation ($M)
      Q2 2024   Q2 2025   V %
    GAAP net earnings $ 337     $ 378       12 %
    Transaction-related expenses for completed
    acquisitions
            3      
    Financial impacts associated with the minority
    investments in Indicor & Certinia
            (13 ) A  
    Amortization of acquisition-related intangible
    assets
      146       160   B  
    Adjusted net earnings C $ 483     $ 528       9 %
               
    Table 3: Adjusted DEPS reconciliation
      Q2 2024   Q2 2025   V %
    GAAP DEPS $ 3.12     $ 3.49       12 %
    Transaction-related expenses for completed
    acquisitions
            0.03      
    Financial impacts associated with the minority
    investments in Indicor & Certinia
            (0.12 ) A  
    Amortization of acquisition-related intangible
    assets
      1.35       1.48   B  
    Adjusted DEPS C $ 4.48     $ 4.87       9 %
               
    Table 4: Adjusted cash flow reconciliation ($M)
      Q2 2024   Q2 2025   V %
    Operating cash flow $ 384     $ 404       5 %
    Taxes paid in period related to divestiture         30   D  
    Adjusted operating cash flow $ 384     $ 434       13 %
    Capital expenditures   (7 )     (16 )    
    Capitalized software expenditures   (11 )     (14 )    
    Adjusted free cash flow $ 367     $ 403       10 %
               
    Table 5: Forecasted adjusted DEPS reconciliation
      Q3 2025   FY 2025
      Low end   High end   Low end   High end
    GAAP DEPS E $ 3.61     $ 3.65     $ 13.89     $ 14.04  
    YTD transaction-related expenses for
    completed acquisitions
                  0.03       0.03  
    YTD financial impacts associated with the
    minority investment in Indicor A
                  0.17       0.17  
    Amortization of acquisition-related
    intangible assets B
      1.47       1.47       5.81       5.81  
    Adjusted DEPS C $ 5.08     $ 5.12     $ 19.90     $ 20.05  
                   

    Footnotes:

    A.  Adjustments related to the financial impacts associated with the minority investment in Indicor as shown below ($M, except per share data). Forecasted results do not include any potential impacts associated with our minority investment in Indicor, as these potential impacts cannot be reasonably predicted. These impacts will be excluded from all non-GAAP results in future periods.
                         
        Q2 2025A     Q3 2025E   FY 2025E     YTD 2025A
      Pretax $ (17 )     TBD   TBD     $ 28
      After-tax $ (13 )     TBD   TBD     $ 18
      Per share $ (0.12 )     TBD   TBD     $ 0.17
                         
    B. Actual results and forecast of estimated amortization of acquisition-related intangible assets as shown below ($M, except per share data). Forecasted results do not include amortization of intangible assets associated with the announced acquisition of Subsplash, as the valuation of acquisition-related intangible assets is incomplete. This item will be excluded from all non-GAAP results in future periods.
                         
        Q2 2025A     Q3 2025E   FY 2025E      
      Pretax $ 203       $ 202   $ 798      
      After-tax $ 160       $ 160   $ 630      
      Per share $ 1.48       $ 1.47   $ 5.81      
                         
    C. All actual and forecasted non-GAAP adjustments are taxed at 21% with the exception of the financial impacts associated with minority investments.
                         
    D. Cash taxes paid in the quarter associated with Roper’s gain on the sale of its minority interest in Certinia.
                         
    E. Forecasted GAAP DEPS do not include any potential impacts associated with our minority investment in Indicor, nor amortization of intangible assets associated with the announced acquisition of Subsplash, as the valuation of acquisition-related intangible assets is incomplete. These impacts will be excluded from all non-GAAP results in future periods.
       

    Note: Numbers may not foot due to rounding.  

    About Roper Technologies

    Roper Technologies is a constituent of the Nasdaq 100, S&P 500, and Fortune 1000. Roper has a proven, long-term track record of compounding cash flow and shareholder value. The Company operates market leading businesses that design and develop vertical software and technology enabled products for a variety of defensible niche markets. Roper utilizes a disciplined, analytical, and process-driven approach to redeploy its excess capital toward high-quality acquisitions. Additional information about Roper is available on the Company’s website at www.ropertech.com.

    Contact information:
    Investor Relations
    941-556-2601
    investor-relations@ropertech.com

    The information provided in this press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements may include, among others, statements regarding operating results, the success of our internal operating plans, and the prospects for newly acquired businesses to be integrated and contribute to future growth, profit and cash flow expectations. Forward-looking statements may be indicated by words or phrases such as “anticipate,” “estimate,” “plans,” “expects,” “projects,” “should,” “will,” “believes,” “intends” and similar words and phrases. These statements reflect management’s current beliefs and are not guarantees of future performance. They involve risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statement. Such risks and uncertainties include our ability to identify and complete acquisitions consistent with our business strategies, integrate acquisitions that have been completed, realize expected benefits and synergies from, and manage other risks associated with, acquired businesses, including obtaining any required regulatory approvals with respect thereto. We also face other general risks, including our ability to realize cost savings from our operating initiatives, general economic conditions and the conditions of the specific markets in which we operate, including risks related to labor shortages and rising interest rates, changes in foreign exchange rates, risks related to changing U.S. and foreign trade policies, including increased trade restrictions or tariffs, risks associated with our international operations, cybersecurity and data privacy risks, including litigation resulting therefrom, risks related to political instability, armed hostilities, incidents of terrorism, public health crises (such as the COVID-19 pandemic) or natural disasters, increased product liability and insurance costs, increased warranty exposure, future competition, changes in the supply of, or price for, parts and components, including as a result of inflation and potential supply chain constraints, environmental compliance costs and liabilities, risks and cost associated with litigation, potential write-offs of our substantial intangible assets, and risks associated with obtaining governmental approvals and maintaining regulatory compliance for new and existing products. Important risks may be discussed in current and subsequent filings with the SEC. You should not place undue reliance on any forward-looking statements. These statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

    Roper Technologies, Inc.      
    Condensed Consolidated Balance Sheets (unaudited)    
    (Amounts in millions)      
           
      June 30, 2025   December 31, 2024
    ASSETS:      
           
    Cash and cash equivalents $ 242.4     $ 188.2  
    Accounts receivable, net   868.8       885.1  
    Inventories, net   132.2       120.8  
    Income taxes receivable   50.0       25.6  
    Unbilled receivables   140.0       127.3  
    Prepaid expenses and other current assets   220.9       195.7  
    Total current assets   1,654.3       1,542.7  
           
    Property, plant and equipment, net   156.5       149.7  
    Goodwill   20,507.6       19,312.9  
    Other intangible assets, net   9,627.4       9,059.6  
    Deferred taxes   54.6       54.1  
    Equity investment   739.7       772.3  
    Other assets   480.3       443.4  
    Total assets $ 33,220.4     $ 31,334.7  
           
    LIABILITIES AND STOCKHOLDERS’ EQUITY:      
           
    Accounts payable $ 159.4     $ 148.1  
    Accrued compensation   213.8       289.0  
    Deferred revenue   1,618.1       1,737.4  
    Other accrued liabilities   520.3       546.2  
    Income taxes payable   53.1       68.4  
    Current portion of long-term debt, net   999.8       1,043.1  
    Total current liabilities   3,564.5       3,832.2  
           
    Long-term debt, net of current portion   7,859.2       6,579.9  
    Deferred taxes   1,706.0       1,630.6  
    Other liabilities   456.8       424.4  
    Total liabilities   13,586.5       12,467.1  
           
    Common stock   1.1       1.1  
    Additional paid-in capital   3,187.1       3,014.6  
    Retained earnings   16,565.9       16,034.9  
    Accumulated other comprehensive loss   (104.1 )     (166.5 )
    Treasury stock   (16.1 )     (16.5 )
    Total stockholders’ equity   19,633.9       18,867.6  
    Total liabilities and stockholders’ equity $ 33,220.4     $ 31,334.7  
           
    Roper Technologies, Inc.          
    Condensed Consolidated Statements of Earnings (unaudited)        
    (Amounts in millions, except per share data)        
                   
      Three months ended
    June 30,
      Six months ended
    June 30,
        2025       2024       2025       2024  
    Net revenues $ 1,943.6     $ 1,716.8     $ 3,826.4     $ 3,397.5  
    Cost of sales   598.2       523.5       1,187.3       1,023.2  
    Gross profit   1,345.4       1,193.3       2,639.1       2,374.3  
                   
    Selling, general and administrative expenses   797.1       699.1       1,565.0       1,398.8  
    Income from operations   548.3       494.2       1,074.1       975.5  
                   
    Interest expense, net   79.1       67.5       142.0       120.7  
    Equity investments (gain) loss, net   (16.6 )     0.8       27.8       (56.2 )
    Other expense, net   0.5       0.6       1.0       1.8  
                   
    Earnings before income taxes   485.3       425.3       903.3       909.2  
                   
    Income taxes   107.0       88.2       193.9       190.1  
                   
    Net earnings $ 378.3     $ 337.1     $ 709.4     $ 719.1  
                   
    Net earnings per share:              
    Basic $ 3.52     $ 3.15     $ 6.60     $ 6.72  
    Diluted $ 3.49     $ 3.12     $ 6.55     $ 6.66  
                   
    Weighted average common shares outstanding:              
    Basic   107.6       107.1       107.5       107.0  
    Diluted   108.4       107.9       108.3       107.9  
    Roper Technologies, Inc.                
    Selected Segment Financial Data (unaudited)                
    (Amounts in millions; percentages of net revenues)                
                                   
      Three months ended June 30,   Six months ended June 30,
        2025       2024       2025       2024  
      Amount   %   Amount   %   Amount   %   Amount   %
    Net revenues:                              
    Application Software $ 1,094.9         $ 931.8         $ 2,163.1         $ 1,827.0      
    Network Software   385.4           364.2           761.3           735.0      
    Technology Enabled
    Products
      463.3           420.8           902.0           835.5      
    Total $ 1,943.6         $ 1,716.8         $ 3,826.4         $ 3,397.5      
                                   
                                   
    Gross profit:                              
    Application Software $ 753.3       68.8 %   $ 641.1       68.8 %   $ 1,474.1       68.1 %   $ 1,266.8       69.3 %
    Network Software   320.8       83.2 %     307.8       84.5 %     636.4       83.6 %     624.1       84.9 %
    Technology Enabled
    Products
      271.3       58.6 %     244.4       58.1 %     528.6       58.6 %     483.4       57.9 %
    Total $ 1,345.4       69.2 %   $ 1,193.3       69.5 %   $ 2,639.1       69.0 %   $ 2,374.3       69.9 %
                                   
                                   
    Operating profit*:                              
    Application Software $ 294.6       26.9 %   $ 251.1       26.9 %   $ 571.4       26.4 %   $ 490.7       26.9 %
    Network Software   169.3       43.9 %     159.1       43.7 %     336.0       44.1 %     326.1       44.4 %
    Technology Enabled
    Products
      164.1       35.4 %     146.7       34.9 %     317.7       35.2 %     282.9       33.9 %
    Total $ 628.0       32.3 %   $ 556.9       32.4 %   $ 1,225.1       32.0 %   $ 1,099.7       32.4 %
                                   
                                   
    * Segment operating profit is before unallocated corporate general and administrative expenses and enterprise-wide stock-based compensation. These expenses were $79.7 and $62.7 for the three months ended June 30, 2025 and 2024, respectively, and $151.0 and $124.2 for the six months ended June 30, 2025 and 2024, respectively.
    Roper Technologies, Inc.  
    Condensed Consolidated Statements of Cash Flows (unaudited)
    (Amounts in millions)
      Six months ended
    June 30,
        2025       2024  
    Cash flows from operating activities:      
    Net earnings $ 709.4     $ 719.1  
    Adjustments to reconcile net earnings to cash flows from operating
    activities:
         
    Depreciation and amortization of property, plant and equipment   19.6       18.5  
    Amortization of intangible assets   417.2       377.2  
    Amortization of deferred financing costs   5.5       4.5  
    Non-cash stock compensation   82.7       73.3  
    Equity investments (gain) loss, net   27.8       (56.2 )
    Income tax provision   193.9       190.1  
    Changes in operating assets and liabilities, net of acquired businesses:      
    Accounts receivable   37.4       96.7  
    Unbilled receivables   (9.7 )     (17.7 )
    Inventories   (9.6 )     (11.0 )
    Prepaid expenses and other current assets   (22.9 )     (30.7 )
    Accounts payable   7.0       4.5  
    Other accrued liabilities   (115.4 )     (47.3 )
    Deferred revenue   (132.7 )     (122.6 )
    Cash taxes paid for gain on disposal of equity investment   (30.2 )      
    Cash income taxes paid, excluding tax associated with gain on disposal of
    equity investment
      (233.7 )     (284.3 )
    Other, net   (13.5 )     1.5  
    Cash provided by operating activities   932.8       915.6  
           
    Cash flows from (used in) investing activities:      
    Acquisitions of businesses, net of cash acquired   (2,005.2 )     (1,858.3 )
    Capital expenditures   (26.0 )     (15.9 )
    Capitalized software expenditures   (26.8 )     (20.5 )
    Distributions from equity investment   5.1       8.4  
    Other   1.6       (1.1 )
    Cash used in investing activities   (2,051.3 )     (1,887.4 )
           
    Cash flows from (used in) financing activities:      
    Borrowings under revolving line of credit, net   1,275.0       1,090.0  
    Cash dividends to stockholders   (177.2 )     (160.6 )
    Proceeds from stock-based compensation, net   73.8       75.9  
    Treasury stock sales   12.5       10.3  
    Other, net   (43.9 )     (0.2 )
    Cash provided by financing activities   1,140.2       1,015.4  
           
    Effect of exchange rate changes on cash   32.5       (6.4 )
           
    Net increase in cash and cash equivalents   54.2       37.2  
           
    Cash and cash equivalents, beginning of period   188.2       214.3  
           
    Cash and cash equivalents, end of period $ 242.4     $ 251.5  
           

    The MIL Network

  • MIL-OSI: Beneficient Appoints Tom Hicks as Chairman and James Silk as Interim Chief Executive Officer

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, July 21, 2025 (GLOBE NEWSWIRE) — Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a technology-enabled platform providing exit opportunities and primary capital solutions and related trust and custody services to holders of alternative assets through its proprietary online platform AltAccess, today announced the separation of the roles of Chairman of the Board of Directors (“Board”) and Chief Executive Officer with the appointment of Thomas O. Hicks as Chairman of the Board and James G. Silk as its interim Chief Executive Officer.

    Mr. Hicks is a private equity pioneer with a decades-long record of success. He founded one of the early prominent private equity firms through which more than $12 billion was raised across six funds, completing more than $50 billion of leveraged acquisitions. Currently, through his family office, Mr. Hicks leads a seasoned team of private equity professionals who specialize in small and middle market transactions in specialty manufacturing, energy, food and beverage, media, and special situations. Mr. Hicks has served on the Board since 2018.

    Mr. Hicks said: “I am eager to assume this leadership position and to begin working to realize the Company’s full potential. An important first step is to appoint the right Interim CEO. Mr. Silk’s belief in the Company’s core strategy and significant experience with Beneficient and in financial services makes him the right person to guide us forward as we work to regain momentum and drive shareholder value.”

    “I am excited to return to Beneficient and work with the Board and leadership team to navigate this transition period in order to position the Company for long term success,” Mr. Silk said.

    Mr. Silk has more than 20 years of experience in the financial services industry and previously served as Executive Vice President and Chief Legal Officer of the Company, overseeing Beneficient’s operations, underwriting, risk, and legal groups, from January 2020 until May 2024. He also served as a member of the Board of Directors from January 2020 until May 2024. Prior to joining the Company in 2020, Mr. Silk was a Partner in the Asset Management Group of international law firm, Willkie Farr & Gallagher LLP, where he worked for more than 13 years. Prior to that position, Mr. Silk was an attorney at international law firm, A&O Shearman LLP.

    Throughout his career, Mr. Silk has advised clients on a wide variety of business and legal issues across the alternative assets industry. He has counseled many of the industry’s largest and most recognizable public and private asset management firms, including Goldman Sachs, Deutsche Bank, Credit Suisse, KKR, Brookfield, Bank of America, Merrill Lynch and Morgan Stanley. Mr. Silk has extensive expertise on developing alternative asset products and negotiating asset management mergers and acquisitions and other corporate transactions.

    Mr. Silk graduated with a BS in Finance from the University of Virginia and earned a JD, Summa Cum Laude, from St. John’s University School of Law.

    About Beneficient 
    Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to democratize the global alternative asset investment market by providing traditionally underserved investors − mid-to-high net worth individuals, small-to-midsized institutions and General Partners seeking exit options, anchor commitments and valued-added services for their funds− with solutions that could help them unlock the value in their alternative assets. Ben’s AltQuote® tool provides customers with a range of potential exit options within minutes, while customers can log on to the AltAccess® portal to explore opportunities and receive proposals in a secure online environment.

    Its subsidiary, Beneficient Fiduciary Financial, L.L.C., received its charter under the State of Kansas’ Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is subject to regulatory oversight by the Office of the State Bank Commissioner. 

    For more information, visit www.trustben.com or follow us on LinkedIn

    Contacts
    Matt Kreps: 214-597-8200, mkreps@darrowir.com
    Michael Wetherington: 214-284-1199, mwetherington@darrowir.com
    Investor Relations: investors@beneficient.com

    Forward Looking Statements
    This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding our executive transition period, our ability to create shareholder value and our future success . The words ”anticipate,” “believe,” ”continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” ”plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected.

    Important factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, among others, the risks, uncertainties, and factors set forth under “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and its subsequently filed Quarterly Reports on Form 10-Q and the risks and uncertainties contained in the Company’s Current Reports on Form 8-K. Forward-looking statements speak only as of the date they are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events, or circumstances or other changes affecting such statements except to the extent required by applicable law.

    Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    The MIL Network

  • Centre rolls out key strategies to ensure sustainability, competitiveness of coal sector

    Source: Government of India

    Source: Government of India (4)

    The central government has outlined a set of measures aimed at making the coal sector more sustainable and competitive, while aligning with global climate commitments. Despite the growing push towards renewables like solar and wind, coal continues to play a dominant role in India’s energy mix, meeting 55% of the country’s energy needs. With the world’s fifth-largest coal reserves, India is adopting a multi-pronged strategy to modernise the sector, enhance environmental compliance, and reduce dependence on imports.

    Greening and efficiency initiatives

    To reduce the ecological footprint of coal mining, Coal and Lignite PSUs have intensified reclamation and afforestation efforts around operational mines. Under various greening initiatives, plantations and bio-reclamation work are being carried out across mining sites.

    Coal PSUs are also adopting energy efficiency measures — such as replacing conventional lighting with LED systems, deploying energy-efficient appliances, using electric vehicles, and introducing energy-saving technologies like super fans and auto timers in street lighting.

    In a significant sustainability push, mine water is being treated and reused for purposes ranging from irrigation and community water supply to firefighting, underground sprinkling, and fish farming. Several MoUs have also been signed with state governments to expand treated mine water supply to local communities.

    Additionally, coal companies are making productive use of overburden (OB) — the soil and rock removed during mining. By extracting sand from OB for construction, PSUs have commissioned nine plants, including four OB processing and five OB to M-Sand plants. This move not only curbs river sand mining but also aids groundwater recharge and reduces environmental degradation.

    Shift towards cleaner technologies

    To reduce pollution and fuel consumption, coal PSUs have been upgrading transportation infrastructure under the First Mile Connectivity (FMC) projects. These projects focus on mechanized coal handling and transport systems, reducing reliance on diesel and cutting emissions.

    The sector is also deploying blast-free technologies such as Surface Miners, Continuous Miners, and Rippers to eliminate the need for drilling and blasting — significantly reducing dust and noise pollution.

    Meanwhile, coal companies are investing in clean energy alternatives, including renewable power projects and clean coal technologies like coal gasification and coal bed methane (CBM). Participation in the Green Credit Programme launched by the Ministry of Environment, Forest and Climate Change (MoEF&CC) further reflects the sector’s green commitment.

    Reducing coal iImports and boosting domestic production

    In a written reply to the Rajya Sabha, Union Coal and Mines Minister G. Kishan Reddy said coal imports have declined from 264.5 million tonnes (MT) in 2023–24 to 243.6 MT in 2024–25. This reduction comes in the backdrop of efforts to increase domestic coal output and reduce reliance on imports.

    Key measures include faster allocation of coal blocks, encouraging private participation, and streamlining approval processes. Public sector undertakings are also adopting digital solutions and advanced mining technologies to ramp up production.

    An Inter-Ministerial Committee (IMC) has been formed to promote coal import substitution. The IMC is working with import-based power plants to assess and address their coal needs using domestic supply channels. Some of these plants have already indicated their preferred suppliers from Coal India Limited’s (CIL) subsidiaries.

    Coal evacuation and transportation are being improved with the construction of new railway lines and expanded FMC projects, aimed at enhancing supply chain efficiency.

    With these integrated measures, the government aims to maintain coal’s competitiveness in India’s energy mix while advancing sustainability and reducing environmental impact.