Category: Trade

MIL-OSI: Veritex Holdings, Inc. Announces Date Change for Second Quarter 2025 Earnings Release and Cancellation of Conference Call

Source: GlobeNewswire (MIL-OSI)

DALLAS, July 15, 2025 (GLOBE NEWSWIRE) — Veritex Holdings, Inc. (Nasdaq: VBTX), the parent holding company for Veritex Community Bank, today announced a date change for release of its second quarter 2025 earnings results. Veritex will now release its second quarter 2025 earnings results before the opening of the market on Friday, July 18, 2025. The earnings release will be available on Veritex’s website, https://ir.veritexbank.com/.

Veritex also announced the cancellation of its second quarter 2025 investor conference call that Veritex had announced would occur on Wednesday, July 23, 2025 due to the announcement on July 14, 2025 that Veritex has entered into a definitive agreement to be acquired by Huntington Bancshares Incorporated, subject to regulatory approvals and customary closing conditions. There will be no conference call scheduled this quarter relating to Veritex’s second quarter results.

About Veritex Holdings, Inc.

Headquartered in Dallas, Texas, Veritex is a bank holding company that conducts banking activities through its wholly-owned subsidiary, Veritex Community Bank, with locations throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank is a Texas state-chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System. For more information, visit www.veritexbank.com.

Source: Veritex Holdings, Inc.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This communication may contain certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements about the benefits of the proposed transaction, the plans, objectives, expectations and intentions of Veritex and Huntington, the expected timing of completion of the transaction, and other statements that are not historical facts and are subject to numerous assumptions, risks, and uncertainties that are beyond the control of Veritex and Huntington. Such statements are subject to numerous assumptions, risks, estimates, uncertainties and other important factors that change over time and could cause actual results to differ materially from any results, performance, or events expressed or implied by such forward-looking statements, including as a result of the factors referenced below. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by words such as expect, anticipate, continue, believe, intend, estimate, plan, trend, objective, target, goal, or similar expressions, or future or conditional verbs such as will, may, might, should, would, could, or similar variations. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995.

Veritex and Huntington caution that the forward-looking statements in this communication are not guarantees of future performance and involve a number of known and unknown risks, uncertainties and assumptions that are difficult to assess and are subject to change based on factors which are, in many instances, beyond Veritex’s and Huntington’s control. While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements or historical performance: changes in general economic, political, or industry conditions; deterioration in business and economic conditions, including persistent inflation, supply chain issues or labor shortages, instability in global economic conditions and geopolitical matters, as well as volatility in financial markets; changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs; the impact of pandemics and other catastrophic events or disasters on the global economy and financial market conditions and our business, results of operations, and financial condition; the impacts related to or resulting from bank failures and other volatility, including potential increased regulatory requirements and costs, such as FDIC special assessments, long-term debt requirements and heightened capital requirements, and potential impacts to macroeconomic conditions, which could affect the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital; unexpected outflows of uninsured deposits which may require us to sell investment securities at a loss; changing interest rates which could negatively impact the value of our portfolio of investment securities; the loss of value of our investment portfolio which could negatively impact market perceptions of us and could lead to deposit withdrawals; the effects of social media on market perceptions of us and banks generally; cybersecurity risks; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Federal Reserve; volatility and disruptions in global capital, foreign exchange and credit markets; movements in interest rates; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including market acceptance of any new products or services including those implementing our “Fair Play” banking philosophy; changes in policies and standards for regulatory review of bank mergers; the nature, extent, timing, and results of governmental actions, examinations, reviews, reforms, regulations, and interpretations, including those related to the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Basel III regulatory capital reforms, as well as those involving the SEC, OCC, Federal Reserve, FDIC, CFPB and state-level regulators; the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the merger agreement between Veritex and Huntington; the outcome of any legal proceedings that may be instituted against Veritex and Huntington; delays in completing the transaction; the failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the transaction); the failure to obtain Veritex shareholder approval or to satisfy any of the other conditions to the transaction on a timely basis or at all; the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Veritex and Huntington do business; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business, customer or employee relationships, including those resulting from the announcement or completion of the transaction; the ability to complete the transaction and integration of Veritex and Huntington successfully; the dilution caused by Huntington’s issuance of additional shares of its capital stock in connection with the transaction; and other factors that may affect the future results of Veritex and Huntington. Additional factors that could cause results to differ materially from those described above can be found in Veritex’s Annual Report on Form 10-K for the year ended December 31, 2024 and in its subsequent Quarterly Reports on Form 10-Q, including for the quarter ended March 31, 2025, each of which is on file with the SEC and available on Veritex’s investor relations website, ir.veritexbank.com, under the heading “Financials” and in other documents Veritex files with the SEC, and in Huntington’s Annual Report on Form 10-K for the year ended December 31, 2024 and in its subsequent Quarterly Reports on Form 10-Q, including for the quarter ended March 31, 2025, each of which is on file with the Securities and Exchange Commission (the “SEC”) and available in the “Investor Relations” section of Huntington’s website, http://www.huntington.com, under the heading “Investor Relations” and in other documents Huntington files with the SEC.

All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date they are made and are based on information available at that time. Neither Veritex nor Huntington assume any obligation to update forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in circumstances or other factors affecting forward-looking statements that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. If Veritex or Huntington update one or more forward-looking statements, no inference should be drawn that Veritex or Huntington will make additional updates with respect to those or other forward-looking statements. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.

IMPORTANT ADDITIONAL INFORMATION

In connection with the proposed transaction, Huntington will file with the SEC a Registration Statement on Form S-4 that will include a Proxy Statement of Veritex and a Prospectus of Huntington, as well as other relevant documents concerning the proposed transaction. The proposed transaction involving Huntington and Veritex will be submitted to Veritex’s shareholders for their consideration. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a 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. INVESTORS AND SHAREHOLDERS OF VERITEX ARE URGED TO READ THE REGISTRATION STATEMENT AND THE PROXY STATEMENT/PROSPECTUS REGARDING THE TRANSACTION WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Shareholders will be able to obtain a free copy of the definitive proxy statement/prospectus, as well as other filings containing information about Huntington and Veritex, without charge, at the SEC’s website (http://www.sec.gov). Copies of the proxy statement/prospectus and the filings with the SEC that will be incorporated by reference in the proxy statement/prospectus can also be obtained, without charge, by directing a request to Huntington Investor Relations, Huntington Bancshares Incorporated, Huntington Center, 41 South High Street, Columbus, Ohio 43287, (800) 576-5007 or to Veritex Investor Relations, Veritex Holdings, Inc., 8214 Westchester Drive, Suite 800, Dallas, Texas 75225, (972) 349-6200.

PARTICIPANTS IN THE SOLICITATION

Huntington, Veritex, and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Veritex in connection with the proposed transaction under the rules of the SEC. Information regarding the interests of the directors and executive officers of Huntington and Veritex and other persons who may be deemed to be participants in the solicitation of shareholders of Veritex in connection with the transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the definitive proxy statement/prospectus related to the transaction, which will be filed by Huntington with the SEC. Information regarding Huntington’s directors and executive officers is available in its definitive proxy statement relating to its 2025 Annual Meeting of Shareholders, which was filed with the SEC on March 6, 2025, and other documents filed by Huntington with the SEC. Information regarding Veritex’s directors and executive officers is available in its definitive proxy statement relating to its 2025 Annual Meeting of Shareholders, which was filed with the SEC on April 29, 2025, and other documents filed by Veritex with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials filed with the SEC. Free copies of this document may be obtained as described above under “Important Additional Information.”

The MIL Network –

July 16, 2025
MIL-OSI United Nations: Adopting Resolution 2787 (2025), Security Council Extends Reporting Requirement on Houthi Attacks against Merchant, Commercial Vessels in Red Sea

Source: United Nations General Assembly and Security Council

The Security Council today extended the request to the Secretary-General to provide written monthly reports through 15 January 2026 on any further Houthi attacks on merchant and commercial vessels in the Red Sea.

Adopting resolution 2787 (2025) (to be issued as document S/RES/2787(2025)) with a vote of 12 in favour to none against, with 3 abstentions (Algeria, China, Russian Federation), the Council extended the reporting request in paragraph 10 of resolution 2722 (2024), while also recalling all its relevant resolutions on the situation in Yemen and the Red Sea, including resolutions 2216 (2015), 2722 (2024), 2739 (2024) and 2768 (2025).

Acts of Terrorism by Houthis

In the ensuing discussion, the representative of the United States, who served as co-penholder of today’s resolution, said that the recent Houthi attacks on two civilian cargo vessels — the MV Magic Seas and the MV Eternity Sea — are yet another stark reminder of the Houthis’ terrorist tactics and their blatant disregard for civilian life. These attacks have also disrupted the free flow of global commerce through the Red Sea and, according to some reports, more than doubled the cost of operating commercial vessels in the area. “The United States strongly condemns these acts of terrorism, which threaten freedom of navigation and undermine regional economic and maritime security,” she said, calling for the immediate and permanent cessation of all Houthi attacks against vessels transiting the Red Sea. Demanding the unconditional release of the crew of the MV Eternity Sea, who remain in Houthi custody, she also reiterated condemnation of Iran’s ongoing violations of Council resolution 2216 (2015), which continue to “enable Houthi terrorism” — including these latest attacks.

No Justification for Any Attack against Innocent Seafarers

The representative of Greece, also co-penholder of today’s resolution, said that the recent, unprovoked attacks against two commercial vessels transiting the Red Sea region “provide a clear testimony of the Houthis’ continued aggression and destabilizing role, as well as the need to keep the reporting mechanism in place”. Underscoring that there is no justification for any attack against innocent seafarers — “whose contribution to international maritime trade is irreplaceable” — he stressed that, if the Red Sea region “becomes even more degraded, it will expose the international community to more acute security risks and economic uncertainty”. He therefore called on all Member States to respect and implement the arms embargo established by resolution 2216 (2015).

As a nation deeply invested in the stability of the Red Sea, Somalia’s delegate said that he supported the resolution as a reflection of an unwavering commitment to maritime security. “We recognize the gravity of the current threats and their far-reaching implications, from economic disruption to environmental risks,” he said. While this resolution is a constructive step forward, its effectiveness will depend on a thoughtful approach that accounts for regional realities and sensitivities. Security in the Red Sea cannot be separated from the stability of its coastal States or the broader peace process. Lasting solutions must tackle the root causes of instability while upholding the sovereignty and territorial integrity of all nations in the region. “We must avoid actions that risk further escalation and instead focus on addressing the legitimate concerns of all stakeholders,” he said.

Nexus between Attacks in Red Sea and Aggression against Palestinians in Gaza

The representative of Algeria said that his delegation’s abstention “comes in line with its principled position”, including abstentions on resolutions 2722 (2024), 2739 (2024) and 2768 (2025). He stressed, however, that this abstention must not be interpreted either as a reservation regarding the Secretary-General’s monthly reports or as a justification for the attacks targeting commercial vessels or cargo carriers. Rather, it is a “reflection of our deep concern” over the implementation of resolution 2722 (2024), he said, noting that such resolution has been misused to justify attacks on the territory of sovereign States. He added that the Council cannot disregard the “clear nexus between the attacks in the Red Sea and the aggression against the Palestinian people in Gaza”.

The representative of the Russian Federation — whose delegation also abstained — noted with concern that the text represents a direct continuation of resolution 2722 (2024) — an instrument that, despite its stated aim of ensuring freedom of navigation, has “raised serious concerns on our side” regarding its interpretation and application in practice. While the resolution’s original intent is commendable, namely safeguarding maritime security around Yemen, the broad and ambiguous language has opened the door to arbitrary interpretations, including its use as justification for unilateral military actions on the sovereign territory of Yemen. “We emphasize that such misinterpretations are unacceptable and undermine the authority of the Security Council,” he said. Stabilization efforts in and around Yemen must be pursued exclusively through political and diplomatic means, in full respect of international law. Moreover, it is impossible to decouple the Red Sea’s security from the wider instability across the region — most notably the ongoing Israeli-Palestinian conflict, he said. Achieving sustainable peace requires immediate steps: a ceasefire, the release of hostages and detainees, and unimpeded humanitarian access to Gaza.

Council Resolutions Should Not Be ‘Misinterpreted or Abused’

The representative of China — whose delegation also abstained — recalled its similar abstention on resolution 2722 (2024). “Following the adoption of that resolution, certain countries took military actions against Yemen, which seriously impacted Yemen’s peace process and exacerbated tensions in the Red Sea,” he recalled, adding that the “negative effects” of such actions “continue until today”. He underscored that Council resolutions should not be “misinterpreted or abused”, and that Yemen’s sovereignty, security and territorial integrity should be respected. Adding that tensions in the Red Sea are a “major manifestation of the spillover from the Gaza conflict”, he said that issues in the Red Sea and Yemen cannot be resolved without easing tensions and de-escalating the overall situation in the region.

Red Sea Corridor for Global Trade, Vital Channel for Humanitarian Aid

The representative of Pakistan, Council President for July, having voted in favor of resolution 2787 (2025) and speaking in his national capacity, reaffirmed “our principled and longstanding commitment” to upholding maritime security and unequivocally condemning attacks on all commercial shipping. He denounced the recent assaults on vessels in the Red Sea and called for the immediate and unconditional release of all detained crew members. In the current context, the extension of the reporting mandate is a necessary and timely step. “We underscore the strategic significance of the Red Sea maritime corridor — not only as a critical artery for global trade, but also as a vital channel for humanitarian aid to Yemen,” he said. All attacks on merchant and commercial vessels navigating the Red Sea and the Gulf of Aden must cease immediately and permanently, in full compliance with international law.

MIL OSI United Nations News –

July 16, 2025
MIL-OSI United Kingdom: Rachel Reeves Mansion House 2025 speech

Source: United Kingdom – Executive Government & Departments 3

Speech

Rachel Reeves Mansion House 2025 speech

Chancellor of the Exchequer Rachel Reeves delivered her second Mansion House speech on the evening of Tuesday 15 July 2025.

Lord Mayor, Governor, Ladies and Gentlemen.

My thanks go to the City of London Corporation for hosting us here this evening…

…and to the Lord Mayor for his address…

…as well as to the Economic Secretary to the Treasury for all her hard work.

It is a year since my party was elected to office…

…and year since I was appointed as Chancellor of the Exchequer.

Recently, on a visit to a primary school, a young girl asked me –

“if you could have any job in the world, what would it be?”

Given the events of the last few weeks, I suspect many of you would have sympathised if I had said –

“anything but the Chancellor.”

But I didn’t.

Because I am proud to stand here tonight and address you for a second time at Mansion House…

…as the Chancellor of Exchequer.

This evening, I want to talk about the progress we have made over the past year:

Restoring stability;

Securing investment;

And delivering reform.

And I want to talk about the future:

The economy that we are building;

The opportunities that we are seizing;

And the prosperity that we together are creating.

In my Mais lecture last year, I talked about how a resilient economy must be built on security.

And the importance of that security has been brought into sharp focus in recent months.

As the world changes before our eyes, and global economies are becoming more uncertain.

The job of a responsible government is not just to watch this change –

We must step up, not step back.

We must build a dynamic economy on strong and secure foundations…

…where success is not limited to a handful of sectors, a few people, or certain parts of the country…

…but where the rewards of hard work are shared…

…harnessing the contribution of every part of Britain.

This is the foundation of an economy and a country that is more active and more confident…

…where people and business look to the future and talk about hope…

…talk about opportunity…

…assured of their own capability, and of the ability of our country to boldly face the challenges ahead…

…and certain in the prize when they succeed:

Of higher wages and higher living standards;

The renewal of Britain in every home and every high street.

To put it simply: a Britain that is better off.

The financial services sector is critical to my ambitions for our country.

It is one of the largest and most successful sectors in the UK…

…worth around 10% of total economic output…

…and supporting 1.2 million jobs in clusters right around the UK:

In Cardiff, and Belfast and Edinburgh where we have growing Fintechs;

In Manchester, where BNY have their new Angel Square hub;

And in London, the financial centre of the world.

And financial services is also critical in people’s everyday lives:

Whether that’s a couple looking to buy their first home;

A budding entrepreneur wanting to start their first business;

Or people getting more out of the money they’re putting aside for the future.

And that’s what these plans, that I will set out tonight, will deliver.

Growth must be built on a platform of economic stability.

When we came into office…

…it was our government, this government, that restored Britain’s reputation as a beacon of stability by putting the public finances back on a firm footing…

…getting debt on a downward path, while investing prudently alongside business.

That was – and still is – the right choice…

…because there is nothing progressive – [political redaction] – about a government that simply spends more and more each year on debt interest, instead of on the priorities of ordinary working people.

And fiscal stability is a choice that reflects economic reality.

National debt remains at its highest level since the 1960s…

…and globally, the cost of borrowing has increased in recent years.

This is not the inheritance that I would have chosen…

…but it is the reality.

And that is why the Prime Minister, and I and this government are remain committed to our non-negotiable fiscal rules.

The stability that we have restored is already delivering:

Four cuts in interest rates by the Bank of England since the General Election, reducing the cost of mortgages and business lending;

[political redaction]

And investment is returning to our economy.

At the Spending Review, I set out £120 billion of public investment over the next five years…

…and last month, the Prime Minister confirmed that the UK has attracted £120 billion of private investment – in just the last 12 months.

In a globally competitive market…

…firms all over the world are choosing to invest in Britain…

…as one of the best places to start up, to scale up and to list:

The FTSE is at an all-time high, today, for the first time ever, breaking 9000 points;

London is home to the deepest equity capital market in Europe;

It is the third biggest venture capital market globally;

And the London Stock Exchange is the most international in the world…

…with the FTSE soon to include shares listed not just in sterling but also in dollars and in euros.

Last year, to ensure the UK remains competitive, we made significant changes to the listing regime…

…for example, relaxing dual class share rules to give founders flexibility to pursue their growth ambitions.

The FCA have today published their final Prospectus Rules…

…simplifying the listing and capital raising processes for firms of all sizes.

And, as I committed to last year at Mansion House, we are delivering PISCES…

…a brand-new type of stock exchange for private company share trading…

…with the first trading events due to take place later this year.

And I am announcing a new Listings Taskforce with the Office for Investment…

…to attract the best businesses in the world to IPO here in London.

But we must do more to ensure that British savers benefit from the success of growing British businesses.

Last year at Mansion House, I set out an overhaul of our pensions system…

…and the Pension Schemes Bill, led by my colleague the Pensions Minister, will be signed into law in the next few months.

The creation of Defined Contribution and Local Government Pension Scheme megafunds…

…will mean larger and more powerful pots of funding invested productively across the country.

Pension funds, and this government, are united in our determination to deliver higher returns for savers and more investment in the economy.

That is why, since last year, funds covering the majority of the Defined Contribution market have committed to the Mansion House Accord…

…pledging to invest at least 10% of their main funds into private assets such as infrastructure and growth markets…

… with at least half of that going into UK projects.

And I would also like to congratulate the Lord Mayor on his employer pension pledge…

I am delighted, Lord Mayor, to see businesses such as Tesco, First Group and Octopus making this commitment…

…and like you Lord Mayor I look forward to seeing more companies joining up.

The UK economy is enhanced by its outward-facing approach…

…and this year we have built on that with our new trade deals:

A trade deal with the United States, where we were the first country to sign a deal so that British businesses are better protected against tariffs, and where we have worked with our G7 colleagues to avert new taxes.

I’m pleased to welcome US Securities and Exchange Commissioner Hester Peirce here tonight…

…who is driving forward proposals for greater digital collaboration between our two financial centres. Thank you for being here.

And a trade deal with the European Union, where our strategic partnership will slash red tape and reduce costs for business…

…as well as providing a platform to further deepen our relationship in future.

And I am pleased to welcome the European Union’s Financial Services Commissioner Maria Luis Albuquerque.

Maria Luis, we met earlier today to discuss our continued cooperation on financial services, and I look forward to working more closely with you.

And a trade deal with India, with whom our recent FTA agreement will give us the best trading relationship of any country in the world with India.

And we have concluded the first Economic and Financial Dialogue with China in six years.

And we are implementing the Berne Financial Services Agreement with Switzerland too.

At the G20 in South Africa later this week I will continue the call I made at the IMF Spring meetings –

…for countries to come together to tackle trade imbalances and drive growth…

…underpinned by stronger multilateral institutions.

I look forward to hearing more on this from the Governor in his address…

…and I would like to congratulate him on his recent appointment as Chair of the Financial Stability Board…

…a testament to both Andrew and this government’s commitment to international standards.

Britain is open for business;

Open for trade;

Open for investment.

And that’s why we must be willing to change how we do things to stay competitive in that global economy.

We have ripped up the planning rules;

We have swept away regulations;

We have published our industrial strategy;

And today we can go further, by announcing the Financial Services Growth and Competitiveness Strategy…

…including my Leeds Reforms…

…named after one of the UK’s great hubs for financial services…

…and the city that I have been proud to represent as a Member of Parliament for fifteen years.

These are the most wide-ranging package of reforms to financial services regulation in more than a decade.

At Mansion House last year, I said we must regulate for growth and not just for risk…

…and we are delivering on that commitment…

…while continuing to protect financial stability…

…so that the benefits of a thriving and growing financial services sector can be realised for people all over Britain.

Let me set out the details of that package in four parts:

First, I am rolling back regulation that has gone too far in seeking to eliminate risk;

Second, I am delivering targeted changes in the areas where the UK already has particular strengths;

Third, I am making changes to capital requirements to unlock more productive capital;

And fourth, I am introducing measures to boost retail investment so that more savers can reap the benefits of UK economic success.

I will begin with the biggest reforms.

As I promised last year, I am delivering the most significant reform to the Financial Ombudsman Service since its inception…

…including proposing to limit for ten years for claims.

This will speed up the time it takes for consumers to get redress for their complaints…

… returning it to its original purpose as a simple, impartial arbitration service…

…and ensuring that it no longer acts as a quasi-regulator.

And I welcome the announcement today, made by the Financial Ombudsman Service that will reduce the interest rate it applies before a decision from 8% to base rate plus 1%.

I am introducing new targets for the FCA and PRA to cut times on authorisations and approvals…

…and I have tasked the FCA with assessing the impact of the Consumer Duty and whether it unduly effects wholesale activity…

…to ensure that regulators are really regulating for growth.

And I am streamlining the Senior Managers and Certification Regime…

…reducing the burdens it imposes on firms by 50%…

…and slashing approval timelines…

…so you can bring in talent to your business more quickly.

My next set of reforms provide targeted regulatory support to the areas where the UK does already have a comparative advantage.

For insurance – where Britain is the destination of choice for underwriting complex, specialised and high-value risk…

…I am introducing a new competitive framework for captive insurance.

For asset management – where the UK is the world’s second largest centre…

…I am futureproofing the regulatory regime and will publish draft legislation in early 2026.

For sustainable finance, I am determined to focus our efforts on policies that matter most to our world-leading sector and support investment in the transition…

…so, after consultation and consideration, I have decided not to pursue a green taxonomy…

…but instead work with regulators through the Transition Finance Council to capitalise on the £200 billion opportunity of the global transition to net zero.

And for Fintech – where almost half of Europe’s Fintech’s are already based here in the UK…

…the PRA and FCA are launching a scale-up unit to support innovative firms to grow in the UK, including in our world-leading payments system.

And I will drive forward developments in blockchain technology…

…including tokenised securities and stablecoins…

…and an ambitious design for a new digital gilt instrument…

…so that UK financial services can be at the forefront of digital asset innovation.

And because I believe the UK is the best place in the world for financial services…

…today I’ve announced the Office for Investment’s new concierge service.

Launching by October this year, it will provide a tailored service to companies considering setting up and expanding in the UK…

…and I am grateful to Chris Hayward from the City of London Corporation, for his work to drive this forward.

Thank you Chris.

Now, let me turn to the changes I am making to capital requirements…

…to allow UK banks to do more lending and release more capital for investment into our infrastructure and into our businesses.

First, I am supporting the Bank of England’s decision to raise the asset threshold for MREL requirements to between £25 and £40 billion.

This will benefit the challenger banks and bring increased competition and innovation to the market…

…and support those businesses to expand their footprint here in the UK.

Second, I am confirming our approach to Basel 3.1…

…implementing lower capital requirements for domestically focussed banks from January 2027…

…while preserving flexibility on our approach for international banks to ensure the UK always remains competitive while aligning with international standards.

Third, I have committed to meaningful reform of the UK’s ringfencing regime…

…recognising that now is the time to go further in tackling inefficiency and boosting growth…

…while retaining the aspects of the regime that support financial stability and protect consumer deposits.

And fourth, following the new, growth focussed remit letter I sent in November…

…I welcome the Financial Policy Committee’s announcement that it will review the overall level of bank capital needed for UK financial stability…

…reporting back to me by the end of this year.

The review will inform the work the Treasury is taking forward with the Bank…

…to ensure the prudential framework strikes the optimal balance to deliver resilience, growth and competitiveness.

And I welcome the recent changes the Financial Policy Committee has announced to the loan-to-income limit on mortgage lending…

…which the PRA and FCA are implementing immediately…

…that means tens of thousands more people could be able to get a mortgage in the next year alone…

…with Nationwide already offering its ‘Helping Hand’ mortgage to more first time-buyers…

…supporting alone an additional 10,000 each year.

And my thanks to Dame Debbie Crosbie for her leadership.

My final set of reforms are focussed on boosting savings investment.

I recognise the potential for ISA reform to improve returns for savers…

…and access capital for UK businesses.

I have confirmed that Long-Term Asset Funds can be included in stocks and shares ISAs…

…allowing long-term ISA investors to benefit from this innovative product.

And I will continue to consider further changes to ISAs…

…engaging widely in the coming months…

…and recognising that despite the differing views on the right approach…

…we are united in wanting better outcomes for both UK savers and for the UK economy.

For too long, we have presented investment in too negative a light…

…quick to warn people of the risks, without giving proper weight to the benefits…

…and our tangled system of financial advice and guidance…

…has meant people cannot get the right support to make decisions for themselves.

That is why we are working with the FCA to introduce a brand-new type of targeted support for consumers ahead of the new financial year.

And I also welcome the campaign to promote the benefits of retail investment which will launch next April…

…and the action to look at our current approach to risk warnings – and that will report back in January…

…and I’m grateful to Chris Cummings of the Investment Association for spearheading both of those initiatives.

Thank you very much Chris.

Today, I have placed financial services at the heart of this government’s growth mission…

…recognising that Britain cannot succeed and meet its growth ambitions…

…without a financial sector that is fighting fit and thriving.

The reforms I have set out this evening are the next chapter in how I intend to support this growth…

…and I thank Gwyneth Nurse and her brilliant team at the Treasury for all of their hard work on this package.

I knew that Gwyneth would get the biggest clap …

I am also pleased to have been able to work in lockstep with our regulators…

…and I want to extend my thanks both to Nikhil Rathi and Sam Woods for their innovation and the work they have done in response to my updated remit letters last year.

Thank you Nikhil and thank you Sam.

We have been bold in regulating for growth in financial services…

…and I have been clear on the benefits that that will drive…

…with a ripple effect felt right across all sectors of our economy…

…putting pounds in the pockets of working people.

Getting better deals on their mortgages…

better returns on their savings

and more jobs paying good wages across our country

As I look ahead…

…it is clear that we must do more.

In too many areas, regulation still acts as a boot on the neck of businesses…

…choking off the enterprise and innovation that is the lifeblood of economic growth.

Regulators in other sectors must take up the call I make this evening…

…not to bend to the temptation of excessive caution…

…but to boldly regulate for growth…

…in the service of prosperity for our whole country.

I’m really proud of how far we have come in the last year as government and as a country.

I know that the changes that we have made will reform and transform our economy and our country.

And I know that you will waste no time in seizing the opportunities that lie ahead:

To build a stronger economy;

To deliver the renewal of Britain;

And to make working people in all parts of Britain better off.

Thank you very much.

Updates to this page

Published 15 July 2025

MIL OSI United Kingdom –

July 16, 2025
MIL-OSI: CloudFirst to Join Performive in Strategic Growth Transaction

Source: GlobeNewswire (MIL-OSI)

MELVILLE, N.Y., July 15, 2025 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) (the “Company”) today announced that on July 11, 2025 it entered into a definitive agreement to sell the assets of the business of its wholly owned subsidiary, CloudFirst Technologies Corporation. The goal of this transaction is to continue to accelerate CloudFirst’s growth with a new purchaser, while exploring strategic opportunities for the Company that enhance shareholder value. The transaction is subject to customary closing conditions and approval by Data Storage Corporation’s shareholders at its annual meeting of shareholders scheduled for September 10, 2025.

Under the terms of the agreement, CloudFirst will join Performive, a cloud and infrastructure services provider backed by Renovus Capital Partners, a private equity firm. CloudFirst will continue to market its services under its well-established brand, the CloudFirst leadership team will remain in place, and CloudFirst will maintain its renowned support and account management teams. The Company expects continuity throughout the approval process and beyond.

If the transaction is approved by the Company’s shareholders, Data Storage expects that it will retain its public listing and continue to operate Nexxis Inc., a provider of telecommunications and data services. Assuming shareholder approval and closing of the transactions, the Company is planning to use the proceeds together with certain other cash on hand in connection with a tender offer to repurchase up to 85% of its outstanding shares. Data Storage intends to use the funds remaining in the Company following the tender offer to pursue strategic growth through acquisitions in high-growth sectors, including, but not limited to, AI-enabled SaaS, cybersecurity, and healthcare automation.

Chuck Piluso, CEO of Data Storage Corporation, commented, “This agreement highlights the long-term value CloudFirst has created and reflects confidence in the future. While the transaction remains subject to shareholder approval, operations at CloudFirst remain unchanged, with no changes to structure or leadership. The current teams remain fully committed to delivering the high standards our clients expect and, in fact, over the past 30 days we have added staff. With the added scale and strategic backing from this transaction, we expect CloudFirst to be well-positioned for continued growth, while preserving the identity and strengths that have driven its success to date.”

“Although we believe in the strong fundamentals and long-term potential of CloudFirst, we believe that the public markets did not adequately reflect its value. This transaction positions CloudFirst for continued growth in a private setting, while allowing Data Storage to return value to shareholders and pursue strategic opportunities in high growth sectors,” concluded Mr. Piluso.

About Data Storage Corporation

Data Storage Corporation (Nasdaq: DTST) through its subsidiaries, is focused on providing solutions that ensure business continuity, improvement in business processes, and efficiency, while striving to build shareholder value.

For more information, please visit www.dtst.com or follow us on X @DataStorageCorp.

Safe Harbor Provision

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. Forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and include statements regarding approval by the Company’s shareholders at its annual meeting scheduled for September 10th, 2025; the transaction continuing to accelerate CloudFirst’s growth and allowing the Company to explore strategic opportunities that enhance shareholder value; CloudFirst continuing to market its services under its well-established brand; the CloudFirst leadership team remaining in place; CloudFirst maintaining its renowned support and account management teams; the Company’s expectation of continuity throughout the approval process and beyond; the Company expecting to retain its public listing and continuing to operate Nexxis Inc.; the Company’s plan to use the proceeds together with certain other cash on hand in connection with a tender offer to repurchase up to 85% of its outstanding shares; the Company’s intention to use the funds remaining in the Company following the tender offer to pursue strategic growth through acquisitions in high-growth sectors; CloudFirst being well-positioned for continued growth; the transaction positioning CloudFirst for continued growth in a private setting; the transaction allowing the Company to return value to shareholders and pursue strategic opportunities in high-growth tech sectors. Important factors that could cause actual results to differ materially from current expectations include approval by the Company’s shareholders at its annual meeting scheduled for September 10, 2025; consummation of the transaction; the transaction continuing to accelerate CloudFirst’s growth and allowing the Company to explore strategic opportunities that enhance shareholder value; the Company retaining its public listing and continuing to operate Nexxis Inc.; the Company’s plan to use the proceeds together with certain other cash on hand in connection with a tender offer to repurchase up to 85% of its outstanding shares; the Company’s use of its remaining funds; the transaction positioning CloudFirst for continued growth in a private setting; and the transaction allowing the Company to return value to shareholders and pursue strategic opportunities in high-growth sectors. These risks should not be construed as exhaustive and should be read together with the other cautionary statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it was initially made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or otherwise.

Contact:
Crescendo Communications, LLC
212-671-1020
DTST@crescendo-ir.com

The MIL Network –

July 16, 2025
MIL-OSI Russia: Ministry of Economic Development: SEZs have become points of growth and concentration of high technologies.

Translation. Region: Russian Federal

Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –

An important disclaimer is at the bottom of this article.

On July 15, the Federation Council held a round table on the topic of “Development of special economic zones of the technology-implementation type as a driver of innovation.” The event was organized by the Committee on Economic Policy with the participation of Senator Vladimir Kravchenko. The discussion was attended by Deputy Minister of Economic Development of the Russian Federation Svyatoslav Sorokin, representatives of the Ministry of Industry and Trade, heads of special economic zones (SEZ) of the technology-implementation type, as well as industry experts.

Today, there are seven special economic zones of the technology implementation type operating in Russia. Despite their small number, they demonstrate impressive results from year to year, promoting the development of high-tech production and innovative infrastructure. They include: SEZ Technopolis Moscow (Moscow), Saint Petersburg (Saint Petersburg), Dubna (Moscow Region), Tomsk (Tomsk Region), Innopolis (Republic of Tatarstan), Istok (Fryazino, Moscow Region), and Saratov (Saratov, Saratov Region).

In his report, Svyatoslav Sorokin noted the importance of technology implementation zones in the formation of non-resource growth of the economy and the technological sovereignty of the country.

“Today we see that, despite the fact that there are only seven technology-implementation SEZs, they generate almost half of all revenue and jobs created in the SEZ territory. This speaks to the high efficiency of this format and its key role in the development of high-tech production,” the deputy minister emphasized.

Today, there are more than 570 residents registered in the TVT SEZ, 32 of which have foreign capital. The total revenue of residents exceeds 1.75 trillion rubles (43% of the total revenue for all SEZs), and the volume of investments amounted to more than 764 billion rubles. Thanks to the activities of these zones, more than 50 thousand highly paid jobs have been created.

“Residents of technology-implementation SEZs today produce unique IT solutions, medical products, and products for the aviation and space industries. These are real growth points and architects of the innovative economy,” noted Svyatoslav Sorokin.

The roundtable participants discussed proposals for fine-tuning the SEZ mechanism, aimed at increasing their efficiency and investment attractiveness. The Ministry of Economic Development will work on initiatives from the constituent entities of the Russian Federation to adjust the methodology for assessing the efficiency of special economic zones, providing for increased attention to the development of technologies and the introduction of innovations. The new approach will be implemented taking into account the emphasis on technology implementation processes that ensure the implementation of the strategic goals of the national economy – structural adaptation of industries and the achievement of technological sovereignty of the country. These measures are aimed at increasing the competitiveness of Russian enterprises, accelerating scientific and technological progress and ensuring the sustainability of economic growth in the context of global competition.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

MIL OSI Russia News –

July 16, 2025
MIL-OSI Russia: Ministry of Economic Development: SEZs have become points of growth and concentration of high technologies.

Translation. Region: Russian Federal

Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –

An important disclaimer is at the bottom of this article.

On July 15, the Federation Council held a round table on the topic of “Development of special economic zones of the technology-implementation type as a driver of innovation.” The event was organized by the Committee on Economic Policy with the participation of Senator Vladimir Kravchenko. The discussion was attended by Deputy Minister of Economic Development of the Russian Federation Svyatoslav Sorokin, representatives of the Ministry of Industry and Trade, heads of special economic zones (SEZ) of the technology-implementation type, as well as industry experts.

Today, there are seven special economic zones of the technology implementation type operating in Russia. Despite their small number, they demonstrate impressive results from year to year, promoting the development of high-tech production and innovative infrastructure. They include: SEZ Technopolis Moscow (Moscow), Saint Petersburg (Saint Petersburg), Dubna (Moscow Region), Tomsk (Tomsk Region), Innopolis (Republic of Tatarstan), Istok (Fryazino, Moscow Region), and Saratov (Saratov, Saratov Region).

In his report, Svyatoslav Sorokin noted the importance of technology implementation zones in the formation of non-resource growth of the economy and the technological sovereignty of the country.

“Today we see that, despite the fact that there are only seven technology-implementation SEZs, they generate almost half of all revenue and jobs created in the SEZ territory. This speaks to the high efficiency of this format and its key role in the development of high-tech production,” the deputy minister emphasized.

Today, there are more than 570 residents registered in the TVT SEZ, 32 of which have foreign capital. The total revenue of residents exceeds 1.75 trillion rubles (43% of the total revenue for all SEZs), and the volume of investments amounted to more than 764 billion rubles. Thanks to the activities of these zones, more than 50 thousand highly paid jobs have been created.

“Residents of technology-implementation SEZs today produce unique IT solutions, medical products, and products for the aviation and space industries. These are real growth points and architects of the innovative economy,” noted Svyatoslav Sorokin.

The roundtable participants discussed proposals for fine-tuning the SEZ mechanism, aimed at increasing their efficiency and investment attractiveness. The Ministry of Economic Development will work on initiatives from the constituent entities of the Russian Federation to adjust the methodology for assessing the efficiency of special economic zones, providing for increased attention to the development of technologies and the introduction of innovations. The new approach will be implemented taking into account the emphasis on technology implementation processes that ensure the implementation of the strategic goals of the national economy – structural adaptation of industries and the achievement of technological sovereignty of the country. These measures are aimed at increasing the competitiveness of Russian enterprises, accelerating scientific and technological progress and ensuring the sustainability of economic growth in the context of global competition.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

MIL OSI Russia News –

July 16, 2025
MIL-OSI Russia: Mikhail Mishustin held a strategic session on the development of the aviation industry

Translation. Region: Russian Federal

Source: Government of the Russian Federation – Government of the Russian Federation –

An important disclaimer is at the bottom of this article.

M. Mishustin: “Our country has sufficient technological potential, all the resources to make a radical breakthrough in the field of aircraft manufacturing and, as a result, provide our citizens with guaranteed opportunities for convenient flights – comfortable, safe.”

Opening remarks by Mikhail Mishustin:

Good afternoon, dear colleagues!

Mikhail Mishustin held a strategic session on the development of the aviation industry

15 hours ago

Today we will look at important issues in the development of the aviation industry.

The President has set large-scale tasks for the industry to update the fleet of Russian airlines. Without a doubt, our country needs a modern air fleet based on its own technological solutions and a powerful production base.

In the context of sanctions and external restrictions, the creation of a full range of domestic equipment is necessary for the reliable development of connectivity between our regions and the achievement of the strategic goal of increasing the aviation mobility of citizens by one and a half times by 2030.

Of course, for this purpose new comfortable airport complexes are also being actively built, airfield infrastructure is being modernized, air traffic control systems are being improved, which contributes to the expansion of the route network. And as a result, flights on domestic routes are becoming more convenient for more people.

In order to ensure the independence of Russian civil aviation, a specialized federal project has been formed – “Production of Aircraft and Helicopters”. It has become part of the national project of technological leadership “Industrial Support of Transport Mobility”, which was launched, let me remind you, at the beginning of this year. It is planned to allocate a total of 765 billion rubles from the federal budget for its implementation over six years.

First of all, to create aircraft, competitive engines, electronic equipment, various technical systems. And the entire list of science-intensive equipment. We are talking about developing truly unique products that do not yet have Russian analogues, the production of which must be mastered.

Of course, here we are counting on the high efficiency and coordinated actions of our research centers, design bureaus, industry enterprises and many thousands of related companies that are involved in cooperation chains.

I will highlight several key challenges that aviation industry enterprises will have to overcome.

First of all, it is necessary to bring to successful completion the experimental design work on all implemented programs.

There are preliminary results. In particular, yesterday the operation of the onboard radio-electronic equipment was successfully tested during the flight tests of our flagship MS-21. For the first time, a laboratory based on the Yak-40 with a VK-800 engine took to the air, which will be installed on local aircraft – “Baikal” and the joint aircraft with the Belarusians “Osvey”.

According to the Ministry of Industry and Trade, the certification of the updated Superjet with the PD-8 engine is expected to be completed no later than December of this year. Just recently, let me remind you, it flew from Komsomolsk-on-Amur to Zhukovsky. As did the regional airliner Il-114, which we examined in detail last week while visiting the Innoprom exhibition in Yekaterinburg.

And the MS-21 and Baikal should be ready for serial production – according to the plans we have – in October and December of next year, respectively.

I would like to draw the attention of my colleagues to the fact that specific deadlines need to be set for each type of aircraft. Including for import-substituted versions of the well-known Tu-214 and Il-96-300 models. As well as for our other projects, such as Ladoga and Osvey. And also for promising helicopters of various classes: from the lightest – Mi-34, Ansat, Ka-62 to the heavy ones – Mi-38, Mi-171. It is important that the final economic and flight-technical characteristics of the new Russian equipment correspond to the parameters agreed upon with the airlines.

Another equally serious task is related to the implementation of investment projects to expand production capacity at all enterprises of the cooperation, taking into account the high cost of credit resources today.

In order to provide systemic support for the construction and modernization of plant facilities, the Government approved a comprehensive program for the development of the aviation industry until 2030 three years ago.

Taking into account new challenges, it needs to be revised. It is also necessary to update the aircraft delivery schedules by year, based on the current situation.

I would like to emphasize that we cannot allow any delays that could hinder the growth of passenger traffic. This is a top priority.

Dear colleagues!

I propose to analyze in detail the current status of each project, the results achieved, as well as the existing challenges, and to develop solutions that will allow us to reach large-scale production of a full cycle of aircraft.

Our country has sufficient technological potential and all the resources to make a radical breakthrough in the field of aircraft manufacturing and, as a result, provide our citizens with guaranteed opportunities for convenient flights – comfortable and safe.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

MIL OSI Russia News –

July 16, 2025
MIL-OSI Russia: Alexander Novak: Joint work of Russia and Nigeria within OPEC makes a decisive contribution to ensuring predictability of the oil market

Translation. Region: Russian Federal

Source: Government of the Russian Federation – Government of the Russian Federation –

An important disclaimer is at the bottom of this article.

Deputy Prime Minister of Russia Alexander Novak met with the Minister of Finance and Coordinating Minister for Economic Affairs of Nigeria Olawale Edun.

“Russia values the friendly nature of Russian-Nigerian relations, which are based on the principles of mutual respect and similar approaches to current issues on the international and regional agenda. We see Abuja as a promising partner on the African continent,” said Alexander Novak, opening the negotiations.

The parties discussed full-cycle cooperation in the oil and gas industry: from geological exploration to field development, interaction in the energy sector, industrial equipment supplies, and in the financial and banking sector.

Particular attention was paid to issues of interaction and coordination of efforts within the Gas Exporting Countries Forum (GECF) and OPEC. The Deputy Prime Minister emphasized Russia’s commitment to promoting the legitimate interests of gas exporters in global energy markets.

“Our joint work within OPEC makes a decisive contribution to ensuring stability and predictability of the global oil market. The decisions taken are based on real market indicators and trends and are aimed at balancing it in the face of economic challenges. We believe that our collective actions within OPEC and OPEC meet long-term national interests and contribute to strengthening the economies of our countries,” added Alexander Novak.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

MIL OSI Russia News –

July 16, 2025
MIL-OSI: Watt2Trade Launches World’s First Decentralized Exchange (DEX) for Electricity

Source: GlobeNewswire (MIL-OSI)

Mexico City, Mexico, July 15, 2025 (GLOBE NEWSWIRE) — Watt2Trade, a pioneering blockchain-based energy platform, today announced the official launch of the world’s first decentralized exchange (DEX) for electricity, enabling peer-to-peer energy trading across global markets in real time.

Built on blockchain technology, Watt2Trade allows users to buy, sell, and trade real kilowatts of electricity — much like tokens on a DEX — making the $80 billion global electricity market accessible to individuals for the first time. Unlike traditional power markets dominated by institutional players and regulatory complexity, Watt2Trade is available 24/7, globally, and enables seamless participation from both energy producers and consumers.

“Energy has always been one of the most essential, yet inaccessible, financial assets for individuals,” said Carlos Aurelio Hernández, CEO of Watt2Trade. “We’re changing that by giving people the ability to trade energy just like they trade crypto — securely, transparently, and on their own terms.”

Carlos is a fourth-generation energy entrepreneur with more than a decade of experience leading energy infrastructure projects in Latin America. His past ventures — HHGM, SUJIO, and Volta Capital — have delivered over 500 energy projects and serve as the operational and strategic backbone for Watt2Trade.

The platform is already integrated with real-time electricity market data from CENACE (Mexico), ERCOT (Texas), CAISO (California), and Nord Pool (Europe) — enabling users to tap into live prices and real demand cycles.

Watt2Trade also features a simulation mode for new users, allowing them to learn and experiment with peer-to-peer energy trading in a risk-free environment before trading real assets. The platform is currently accessible at www.watt2trade.com.

About Watt2Trade

Watt2Trade is the world’s first decentralized energy trading platform, enabling peer-to-peer electricity exchange via blockchain. Users can buy and sell real kilowatts, stake the $Wattoin token, vote on governance decisions, and tap into live market integrations across multiple countries. With deep industry roots and a mission to decentralize one of the last institutional strongholds in global finance, Watt2Trade is reshaping the future of energy access and ownership.

Website: www.watt2trade.com

Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

The MIL Network –

July 16, 2025
MIL-OSI Africa: Japan-Mauritius Foreign Ministers’ Meeting
Source: APO

.

On July 15, commencing at 2:00 p.m. for approximately 35 minutes, Mr. IWAYA Takeshi, Minister for Foreign Affairs, held a meeting with Hon. Dhananjay Ramful, Minister of Foreign Affairs, Regional Integration and International Trade, Republic of Mauritius.
1. At the outset, Minister Iwaya stated that Mauritius, located at a strategic point in the Indian Ocean connecting Asia and Africa, is an important partner in promoting a “Free and Open Indo-Pacific (FOIP)” based on the rule of law and that he would like to further strengthen cooperation between the two countries, taking advantage of the upcoming TICAD9 next month.
2. In response, Minister Ramful expressed his gratitude for Japan’s cooperation in various fields. He also referred to the good relations between the two countries and expressed his hope for further strengthening of the bilateral relations, particularly in the economic field.
3. The two ministers concurred to advance initiatives such as maritime security with a view to achieving peace and stability in the Indo-Pacific region, also in view of the promotion of a “Free and Open Indo-Pacific” (FOIP). They also reaffirmed that they will work together in order to increase investment from Japanese companies to Mauritius, which serves as a gateway for investment in Africa.
4. The two ministers also exchanged views on issues, including regional situation in East Asia such as their policies toward North Korea including on the nuclear and missile issues as well as the abductions issue, United Nations Security Council reform, and other issues and concurred to further strengthening cooperation in regional and international arena. Minister Ramful expressed his support for Japan’s efforts toward immediate resolution of the abduction issue.
Distributed by APO Group on behalf of Ministry of Foreign Affairs of Japan.

MIL OSI Africa –
July 16, 2025
MIL-OSI Africa: United Nations Economic Commission for Africa (ECA) and Republic of Congo explore e-commerce solutions to strengthen agricultural value chains and combat hunger

Source: APO

.

Achieving the African Union’s goal of ending hunger by 2025 and the global target of Zero Hunger by 2030 remains a significant challenge for the continent.

In the Republic of Congo, despite continued government efforts to enhance domestic food production and distribution, only 4% of arable land is currently being cultivated. Food access remains constrained by inadequate infrastructure and stark imbalances between supply and demand, leaving an estimated 455,000 people in food and nutrition insecurity.

To address these challenges, the United Nations Economic Commission for Africa (ECA), through its Sub-Regional Offices for Eastern and Central Africa, conducted a fact-finding mission in collaboration with the Ministry of Trade. Held from 30 June to 4 July 2025, in Brazzaville and Pointe-Noire, the mission aimed to explore how e-commerce and digital tools can accelerate food trade and improve access—particularly for vulnerable populations—while strengthening national and regional agricultural value chains.

This initiative is part of ECA’s flagship program, “Innovative Digital Trade under the AfCFTA for Promoting Food Security and Agricultural Value Chains in Africa.”

Strengthening E-Commerce for Agricultural Development

During the mission, ECA engaged with nearly 200 stakeholders, including three ministers: the Minister of Trade, Supplies and Consumer Affairs; the Minister of Agriculture; and the Minister of Small and Medium Enterprises, Handicrafts, and the Informal Sector. Senior officials from the Ministries of Agriculture, Telecommunications, and the Digital Economy also participated, alongside representatives from MTN, Airtel, the Regulatory Agency for Electronic Communications, the Congolese Agency for Quality and Standardization, commercial banks, agribusinesses, and development partners such as the UN Resident Coordinator’s Office, FAO, and WFP.

The mission focused on assessing how digital trade can support national food development strategies and how food e-commerce can be scaled to enhance food security and agricultural value chains.

“If current trends continue, Africa risks missing Sustainable Development Goal 2 – Zero Hunger – by 2030,” said Simone Assah Kuete, Economic Affairs Officer at ECA’s Office for Eastern Africa.

“Food products are highly perishable and require specialized infrastructure for handling, storage, and distribution. Without reliable cold chains and efficient logistics, maintaining food quality from farm to table becomes virtually impossible.”

She highlighted that In 2023, an alarming 20% of the population in Sub-Saharan Africa faced severe malnourishment—compared to 8.1% in Asia, 7.3% in Oceania, and 6.2% in Latin America. Moreover from 2019 to 2023, the number of food-insecure people in Sub-Saharan Africa rose from 258 million to 358 million—a 39% increase—while other regions saw declines. “In this context, leveraging digital tools to reduce market information asymmetries and strengthen food systems is no longer optional—it is an urgent imperative,” she added.

National Commitment to E-Commerce Reform

Lenda Sitou Milandou, Special Adviser to the Ministry of Trade, welcomed the mission and praised the strong collaboration that made it a success.

“Food security remains a top priority in our national development agenda,” she affirmed. “To achieve it, we must develop robust legal, regulatory, and institutional frameworks to enable the growth of e-trade in food products.”

Key Outcomes and Next Steps

The mission identified high-demand national food products and assessed the current use of e-commerce platforms in the Republic of Congo. It also explored opportunities to enhance digital payment systems—currently limited—through partnerships with commercial banks and mobile network operators.

The dialogue revealed critical challenges in food production and trade, policy gaps, infrastructure and capacity needs, and the potential role of digital intermediaries in improving food systems.

This initiative marks a pivotal step toward aligning e-commerce strategies with agricultural transformation in the Republic of Congo. It reflects ECA’s ongoing commitment to supporting member states in leveraging innovation to foster sustainable, inclusive growth.

Distributed by APO Group on behalf of United Nations Economic Commission for Africa (ECA).

MIL OSI Africa –

July 16, 2025
MIL-OSI Economics: Fossil Fuel Subsidy Reform initiative steps up experience-sharing, reviews subsidy impacts

Source: WTO

Headline: Fossil Fuel Subsidy Reform initiative steps up experience-sharing, reviews subsidy impacts

Ambassador Clare Kelly of New Zealand, coordinator of the FFSR initiative, summarized the progress made on the three key pillars of the initiative’s work in 2025. Noting the strong interest in experience-sharing under the third pillar — “identifying and addressing harmful fossil fuel subsidies” — she encouraged participating members to continue exchanging ideas and to draw lessons from others’ reforms and complementary strategies to address social and developmental challenges.
As part of the dedicated discussion on fossil fuel reforms, the Philippines shared its experiences on energy market and fossil fuel subsidy reform, including in support of the transition to sustainable energy solutions, while aligning with development priorities. The World Bank presented two new databases that enable users to track changes in retail fuel prices and related subsidy policies across countries in a timely manner. These tools are designed to support global efforts to address challenges associated with fuel pricing and subsidies, particularly in the context of volatile market conditions.
In further discussions under the third pillar, co-sponsors examined the trade and environmental impacts of fossil fuel subsidies passed through to emissions-intensive industries. The International Energy Agency (IEA) presented its latest energy investment report, which indicated that fossil fuel subsidy support to industry had remained constant, despite a significant global shift towards increased clean energy investment.
The Organisation for Economic Co-operation and Development (OECD) shared key findings from a recent study on the implications of government support for aluminium smelting and steelmaking. The study concludes that reforming such support offers a cost-effective way to reduce emissions while freeing public resources for more sustainable uses. The WTO Secretariat also presented a 2024 working paper on the trade effects of carbon pricing policies, which contains analysis of the potential impacts of different carbon pricing policies, including removal of fossil fuel subsidies, on comparative advantage in carbon-intensive industries.
Co-sponsors thanked members and stakeholders for the valuable insights shared, which underscored the importance of strengthening fossil fuel subsidy reform through collective efforts. They emphasized the persistent scale and impact of fossil fuel subsidies, even amid increasing investment in clean energy. The empirical evidence presented confirmed that such subsidies distort comparative advantages and global trade, reinforcing the relevance of the FFSR initiative’s focus on subsidy reform. Co-sponsors also proposed ways to improve the understanding and classification of different types of fossil fuel subsidies.
Under the first pillar — “Enhanced transparency” — several co-sponsors, including Colombia, Norway and Switzerland, provided updates on their respective efforts to compile information on fossil fuel subsidies and related reforms as part of their recent or upcoming Trade Policy Reviews. The WTO Secretariat presented data from members’ questions and answers related to fossil fuel subsidies and their reform, based on 18 Trade Policy Reviews conducted in 2024 and 2025. The findings reflect increased transparency on the topic, in part as a result of the non-exhaustive list of sample questions to be asked at TPRs adopted by the FFSR initiative co-sponsors at MC13.
Under the second pillar — “Crisis support measures” — the coordinator highlighted ongoing efforts to compile information on temporary fossil fuel support measures introduced during the 2022–2023 energy crisis, with the aim of developing a practical set of guidelines to help members design any future such measures effectively. Co-sponsors reaffirmed the usefulness of the work on planned guidelines to help ensure that such measures remain targeted, transparent and temporary.
In conclusion, Ambassador Kelly noted that the next FFSR meeting, scheduled for 2 October 2025, will continue to promote experience-sharing and maintain a focus on the three core pillars of the work programme.
The FFSR initiative seeks to achieve the rationalization, phasing-out or elimination of harmful fossil fuel subsidies through the use of existing mechanisms or the development of new pathways to reform. It encourages WTO members to share information and experiences to advance discussions at the WTO. More information about the FFSR initiative is available here.

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MIL OSI Economics –

July 16, 2025
MIL-OSI Economics: DG thanks 2024 Young Trade Leaders, group issues report on youth attitudes to trade

Source: WTO

Headline: DG thanks 2024 Young Trade Leaders, group issues report on youth attitudes to trade

The Young Trade Leaders Programme was launched in 2024 to bring young people closer to the work of the WTO. Over the past year, the group have developed their trade expertise, organized a range of activities in their home countries on key trade issues, and highlighted emerging trade priorities for young people.
Recognizing their input, the Director-General urged the outgoing cohort to continue their important engagement at all levels as they further their careers. She also encouraged the group to share their expertise with the new cohort and help build a global network of enthusiastic young trade leaders.
The Global Youth Consultations Report on Trade issued by the group presents the outcomes of a series of regional consultations led by the 2024 WTO Young Trade Leaders, with over 100 young people across six continents articulating their priorities, insights and recommendations for international trade policy.
Despite the varied geographical and socio-economic background of the participants in the consultations, a common narrative emerged in the report: trade can be a tool to address the world’s evolving challenges.
Read the report here.
About the Young Trade Leaders programme
The Young Trade Leaders Programme aims to foster a better understanding of the WTO’s work and international trade among young people.
More information on the programme is available here.

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MIL OSI Economics –

July 16, 2025
MIL-OSI Economics: Merchandise trade posts strong growth in Q1 ahead of tariff hikes

Source: WTO

Headline: Merchandise trade posts strong growth in Q1 ahead of tariff hikes

The new tariffs announced by the United States on 2 April at the start of the second quarter were widely anticipated, allowing importers to move purchases forward to avoid paying higher duties at a later date. Trade volume growth in the first quarter was above projections issued in the WTO’s Global Trade Outlook and Statistics report on 16 April, both for the Secretariat’s baseline forecast of 2.7% for 2025, which assumed a continuation of policies in place at the start of the year, and the adjusted forecast of ‑0.2% assuming policies in place on 16 April.
Since then, a variety of trade agreements and trade measures have nudged the adjusted forecast up and down slightly, but as of mid-June merchandise trade growth for the year was still expected to be basically flat at 0.1%.
Chart 1: World merchandise trade volume and value, 2019Q1-2025Q1Indices, 2019=100

Sources: WTO and UNCTAD for merchandise trade volume, WTO for merchandise trade value.Note: Merchandise trade volume refers to the average of exports and imports, while merchandise trade value refers to exports in current US dollar terms. SA indicates a seasonally-adjusted data series while NSA denotes non-seasonally-adjusted data.
Meanwhile, the US dollar value of world merchandise trade — as measured by non-seasonally-adjusted exports — was up 4% year-on-year in the first quarter of 2025, reflecting strong growth in volume terms and declining prices (Chart 1). The value of trade in the first quarter was down compared to the previous quarter due to regular seasonal variation, but seasonally-adjusted figures continued to rise.
There were significant disparities across regions in merchandise trade volume growth in the first quarter, especially on the import side (Chart 2). North America recorded the strongest quarter-on-quarter import growth of any region by far at 13.4%, followed by Africa at 5.1%, South and Central America and the Caribbean at 3.6%, the Middle East at 3.0%, Europe at 1.3%, and Asia at 1.1%. The Commonwealth of Independent States (CIS), including certain associate and former member states, was the only region to record a decline in the first quarter at -0.5%. On the export side, the Middle East recorded the strongest quarter-on-quarter growth at 6.3%, followed by Asia at 5.6%, South America at 3.2%, Africa at 2.5%, Europe at 1.9% and North America at 1.8%. The CIS region also registered an export decline of -1.0% in the first quarter.
Chart 2: Merchandise export and import volumes by region, 2019Q1 – 2025Q1Seasonally-adjusted indices, 2019=100

a Refers to South and Central America and the Caribbean.b Refers to Commonwealth of Independent States, including certain associate and former member states.Source: WTO and UNCTAD estimates.
Merchandise trade developments in value terms during the first quarter of 2025
Chart 3 shows year-on-year growth in the US dollar value of world merchandise trade by broad product category in the first quarter.1 The strongest performance was in office and telecom equipment (+16% year-on-year), followed by chemicals (+12%) and clothing (+7%). Among the product categories shown, only automotive products (-4%), fuels and mining products (-4%; of which: fuels -7%) and iron and steel (-3%) decreased in value terms. While fuel prices changed little compared with the same quarter in the previous year, prices for metals and minerals (excluding gold & silver) were 8% higher.
Chart 3: Year-on-year merchandise trade growth by product in the first quarter of 2025% change in US$ values

a Includes electrical machinery, non-electrical machinery and power generating equipment.Source: WTO for total merchandise exports, WTO Secretariat estimates for products.
Africa had the strongest merchandise export growth of any region in value terms in the first quarter, up 9% year-on-year (Chart 4). The increase was led by gold, ores, cocoa, and copper, while fuel shipments declined. It was followed by Asia (up 5%, led by precious metals and machinery) and South and Central America (up 4%, with increases in precious metals, ores and coffee/tea, and declines in fuels, oil seeds, and cereals). Among WTO regions, only the Commonwealth of Independent States (CIS)2 saw its exports decline (-6%).
Chart 4: Merchandise trade growth by regions in the first quarter of 2025% change in US$ values

a Refers to South and Central America and the Caribbean.b Refers to Commonwealth of Independent States (CIS), including certain associate and former member states.Source: WTO.
On the import side, strong year-on-year increases were observed in North America (+19%) and South America (+12%). Regarding North America, imports of machinery, precious metals and pharmaceuticals showed marked increases, while vehicle imports dropped slightly. South America saw particularly strong imports of machinery, articles of iron and steel, and vehicles, while imports of fuel fell. Asia’s first quarter merchandise imports increased the least amongst the regions (1%), apart from the 0.1% decline in the CIS region. Asia saw strong import growth for gold and iron ore while imports of vehicles fell. In line with the world trend, Asian imports of fuels also declined year-on-year, while imports of integrated circuits rose.
Monthly merchandise trade developments
Monthly merchandise trade statistics in value terms are available for many countries into the second quarter of 2025. These data show evidence of import demand starting to slow after the first quarter surge. This is illustrated by Chart 5, which shows year-on-year growth in the US dollar value of merchandise exports and imports in 2025 for selected economies in the first quarter, plus partial data for the second quarter (April-May or the latest available month).
For example, imports of the United States were up 25% in the first quarter but only 1% in the first two months of the second quarter. For the year to date (Jan-May), US imports were up 15%. On the export side, shipments from China were up 6% year-on-year in both Q1 and Q2, but other Asian economies saw export growth accelerate (e.g. India, down 4% year-on-year in Q1 but up 9% in April).
These latest quarterly and monthly merchandise trade statistics and other data can be downloaded from the WTO’s online database at stats.wto.org.
Chart 5: Merchandise export and import growth of selected economies, Jan.-May 2025year-on-year % change in US$ values

a April-June.b April.Source: National customs statistics accessed through Trade Data Monitor (TDM).

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MIL OSI Economics –

July 16, 2025
MIL-OSI Economics: Zambia formally accepts WTO Agreement on Fisheries Subsidies

Source: WTO

Headline: Zambia formally accepts WTO Agreement on Fisheries Subsidies

DG Okonjo-Iweala said: “Turning the Agreement on Fisheries Subsidies into real benefits for people and the planet is a global endeavour, and I am grateful to Zambia, as a landlocked country, for stepping up and doing its part. With Zambia’s ratification, we are now closer than ever to adding the Agreement to the WTO rulebook and only six ratifications away from breaking new ground in protecting livelihoods, food security and restoring marine fish stocks.”
Ambassador Luambia said: “Zambia is very pleased to be part of the first 105 signatories and part of the 111 ratifications that will bring the Agreement on Fisheries Subsidies into force. As a landlocked country, Zambia understands the importance of the Agreement on Fisheries Subsidies in sustaining marine fish stocks and promoting fair trade to support livelihoods, particularly for those in small scale fishing. Zambia believes that the entry into force of this Agreement will further strengthen the rules-based multilateral trading system, with the World Trade Organization at the centre.”
Formal acceptances from two-thirds of WTO members are required for the Agreement to enter into force — representing 111 members. The list of the 105 WTO members which have deposited their instruments of acceptance with the WTO is available here.
At the WTO’s 12th Ministerial Conference (MC12) held in Geneva in June 2022, ministers adopted by consensus the Agreement on Fisheries Subsidies, setting new, binding, multilateral rules to curb harmful fisheries subsidies. The Agreement prohibits subsidies for illegal, unreported and unregulated fishing, for fishing overfished stocks, and for fishing on the unregulated high seas.
Ministers also recognized the needs of developing economies and least-developed countries by establishing a fund to provide technical assistance and capacity-building to help governments that have formally accepted the Agreement to implement the new obligations.
The Fish Fund launched a Call for Proposals on 6 June, inviting developing economies and LDCs that have ratified the Agreement to submit requests for project grants aimed at helping them implement the Agreement. The WTO Fish Fund portal can be found here.
WTO members also agreed at MC12 to continue negotiating on remaining fisheries subsidies issues. The objective is to find consensus on additional provisions to further strengthen the disciplines on fisheries subsidies.
Information for members on how to accept the Protocol of Amendment is available here.

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MIL OSI Economics –

July 16, 2025
MIL-OSI Banking: Zambia formally accepts WTO Agreement on Fisheries Subsidies

Source: WTO

Headline: Zambia formally accepts WTO Agreement on Fisheries Subsidies

DG Okonjo-Iweala said: “Turning the Agreement on Fisheries Subsidies into real benefits for people and the planet is a global endeavour, and I am grateful to Zambia, as a landlocked country, for stepping up and doing its part. With Zambia’s ratification, we are now closer than ever to adding the Agreement to the WTO rulebook and only six ratifications away from breaking new ground in protecting livelihoods, food security and restoring marine fish stocks.”
Ambassador Luambia said: “Zambia is very pleased to be part of the first 105 signatories and part of the 111 ratifications that will bring the Agreement on Fisheries Subsidies into force. As a landlocked country, Zambia understands the importance of the Agreement on Fisheries Subsidies in sustaining marine fish stocks and promoting fair trade to support livelihoods, particularly for those in small scale fishing. Zambia believes that the entry into force of this Agreement will further strengthen the rules-based multilateral trading system, with the World Trade Organization at the centre.”
Formal acceptances from two-thirds of WTO members are required for the Agreement to enter into force — representing 111 members. The list of the 105 WTO members which have deposited their instruments of acceptance with the WTO is available here.
At the WTO’s 12th Ministerial Conference (MC12) held in Geneva in June 2022, ministers adopted by consensus the Agreement on Fisheries Subsidies, setting new, binding, multilateral rules to curb harmful fisheries subsidies. The Agreement prohibits subsidies for illegal, unreported and unregulated fishing, for fishing overfished stocks, and for fishing on the unregulated high seas.
Ministers also recognized the needs of developing economies and least-developed countries by establishing a fund to provide technical assistance and capacity-building to help governments that have formally accepted the Agreement to implement the new obligations.
The Fish Fund launched a Call for Proposals on 6 June, inviting developing economies and LDCs that have ratified the Agreement to submit requests for project grants aimed at helping them implement the Agreement. The WTO Fish Fund portal can be found here.
WTO members also agreed at MC12 to continue negotiating on remaining fisheries subsidies issues. The objective is to find consensus on additional provisions to further strengthen the disciplines on fisheries subsidies.
Information for members on how to accept the Protocol of Amendment is available here.

Share

MIL OSI Global Banks –

July 16, 2025
MIL-OSI Europe: Answer to a written question – Potential discrimination of traders on Amazon Marketplace – E-002348/2025(ASW)
Source: European Parliament
Regarding the Honourable Members’ first question on Amazon’s 2022 antitrust commitments, the Monitoring Trustee appointed in accordance with the Commitments Decision[1] has been evaluating Amazon’s compliance and provides bi-annual reports to the Commission.

The Commission has been carefully assessing both the Monitoring Trustee’s reports and Amazon’s compliance and is continuously engaging with both to ensure Amazon’s effective compliance with the commitments.

In parallel, and as announced on 25 March 2024, the Commission has been taking steps to assess Amazon’s compliance with Article 6(5) of Regulation (EU) 2022/1925 (Digital Markets Act — DMA)[2] and continues to look into potential self-preferencing practices by Amazon on the Amazon Marketplace.

Regarding the Honourable Members’ second question on Amazon’s automated pricing systems, the Commission is aware of the Federal Trade Commission’s and Bundeskartellamt’s investigations into Amazon’s pricing behaviour.

The Commission is assessing Amazon’s compliance with Article 5(3) DMA and is closely coordinating with the Bundeskartellamt on the investigation into Amazon’s pricing practices.

Regarding the Honourable Members’ third question on Amazon’s compliance report, the Commission shares the view that transparent and complete compliance reports are fundamental to ensuring that all relevant stakeholders can scrutinise DMA compliance.

The Commission is engaging with Amazon to make sure that these reports are as informative and detailed as possible.

[1] Commission Decision of 20 December 2022 relating to a proceeding under Article 102 of the Treaty on the Functioning of the European Union (TFEU) and Article 54 of the EEA Agreement, Cases AT.40462 — Amazon Marketplace and AT.40703 — Amazon Buy Box, C(2022) 9442 final.

[2] Regulation (EU) 2022/1925 of the European Parliament and of the Council of 14 September 2022 on contestable and fair markets in the digital sector and amending Directives (EU) 2019/1937 and (EU) 2020/1828 (Digital Markets Act), OJ L 265, 12.10.2022, p. 1-66.
Last updated: 15 July 2025
MIL OSI Europe News –
July 16, 2025
MIL-Evening Report: As house prices drop, will the retirement nest egg still be such a safe bet?

Source: The Conversation (Au and NZ) – By Claire Dale, Research Fellow, the Pensions and Intergenerational Equity (PIE) research hub, University of Auckland, Waipapa Taumata Rau

MonthiraYodtiwong/Getty Images

Changes to KiwiSaver, global economic uncertainty and predictions house prices could drop by as much as 20% by 2030 all mean retirement is looking very different to how it once did.

A retirement strategy based on the equity held in a house is no longer as reliable as it has been in the past. Home ownership in Aotearoa New Zealand fell from 75% in 1991 to 60% in 2023 and is projected to fall to 48% in 2048.

The average age of a first-home buyer has also risen to 36, meaning an increasing number of New Zealanders (13%) are paying off their mortgages after they reach retirement age.

The number of retirees renting is also on the rise. By 2048, 40% of them will rent, placing pressure on New Zealand’s housing stock.

KiwiSaver is unlikely to replace the traditional housing nest egg. New Zealanders have, on average, NZ$37,079 in their KiwiSaver accounts, with thousands of people reaching close to retirement age with less than $10,000 saved.

Investing at the price peak

The prospect of retirement looks bleakest for those currently aged between 35 and 49 years old. A recent report from credit agency Centrix found this group was struggling the most financially.

A big part of the problem is that house prices skyrocketed just as they became first-time home buyers. The average asking price for residential property rose by 60.3% over the past decade, from $556,931 at the beginning of 2015 to $892,579 at the end of 2024.

While incomes have also increased, they have not matched housing prices. In 2000, houses cost about five times the median household income. But by 2025, the median price had risen to 7.5 times the median household income.

Those who bought their first home around the peak in 2021 are likely to be hit hardest by the forecast drop in house values. According to data insight firm Cotality (formerly Corelogic), nominal prices are expected to pass their 2021 peak by mid-2029. But when adjusted for inflation, prices in mid-2030 would be a fifth below the peak.

Working into retirement

Older New Zealanders are also facing significant housing pressures.

According to a 2022 report from Treasury, over half of superannuitants still paying off mortgages spent more than 80% of their superannuation income on housing costs. Those who are mortgage-free are spending less than 20% of their super on housing.

Between 2019 and 2024, the percentage of overdue mortgages for the 50+ age groups ranged between 2% and 2.5%, compared to a range of 1% to 1.5% for all mortgages.

People between the age of 55 and 64 are likely to have purchased their homes in the late 1990s and early 2000s, so are less likely to be hurt by the 2021 peak and subsequent trough.

Despite this apparent advantage, only 38% of people between 55 and 64 are mortgage free.

KiwiSaver issues

The possibility of using accumulated KiwiSaver funds to clear a mortgage is also diminishing. As a result of the 2025 Budget changes to KiwiSaver, employee and employer contributions will rise from April 2026 to 3.5% and from April 2028 to 4%, offsetting the reduced annual government contribution.

The end of employer contributions matters particularly to the 24% of those aged over 65 years who are still in the workforce. A rule change in 2021 means employers are not required to make contributions or to deduct employee contributions, unless the employee continues to make KiwiSaver contributions.

But current global crises are affecting KiwiSaver returns. Uncertain and volatile markets, especially for actively managed funds, mean fund managers reallocate money to try to minimise losses. Not all their bets pay off.

By 2030, Stats NZ projects that approximately 265,000 people aged 65 and over will be in the workforce.

The Office for Seniors notes that although older workers have challenges finding and staying in paid work, a third of the workforce is aged over 50 and 50% of people aged 60 to 69 are employed.

Importantly, as the Retirement Commission research found, a third of people over 65 were not working by choice. An increasing number, who neither own their home nor have significant retirement savings, have to continue working past 65 because they need the money to eat and pay the bills.

As New Zealand’s population ages, and more seniors have to work to pay for the essentials, it’s clear retirement is going to look different. Betting on the value of a house to fund life after 65 is less certain than it used to be. More than ever, New Zealanders need to consider how they will live well in their later years.

Claire Dale 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. As house prices drop, will the retirement nest egg still be such a safe bet? – https://theconversation.com/as-house-prices-drop-will-the-retirement-nest-egg-still-be-such-a-safe-bet-259380

MIL OSI Analysis – EveningReport.nz –

July 16, 2025
MIL-Evening Report: As house prices drop, will the retirement nest egg still be such a safe bet?

Source: The Conversation (Au and NZ) – By Claire Dale, Research Fellow, the Pensions and Intergenerational Equity (PIE) research hub, University of Auckland, Waipapa Taumata Rau

MonthiraYodtiwong/Getty Images

Changes to KiwiSaver, global economic uncertainty and predictions house prices could drop by as much as 20% by 2030 all mean retirement is looking very different to how it once did.

A retirement strategy based on the equity held in a house is no longer as reliable as it has been in the past. Home ownership in Aotearoa New Zealand fell from 75% in 1991 to 60% in 2023 and is projected to fall to 48% in 2048.

The average age of a first-home buyer has also risen to 36, meaning an increasing number of New Zealanders (13%) are paying off their mortgages after they reach retirement age.

The number of retirees renting is also on the rise. By 2048, 40% of them will rent, placing pressure on New Zealand’s housing stock.

KiwiSaver is unlikely to replace the traditional housing nest egg. New Zealanders have, on average, NZ$37,079 in their KiwiSaver accounts, with thousands of people reaching close to retirement age with less than $10,000 saved.

Investing at the price peak

The prospect of retirement looks bleakest for those currently aged between 35 and 49 years old. A recent report from credit agency Centrix found this group was struggling the most financially.

A big part of the problem is that house prices skyrocketed just as they became first-time home buyers. The average asking price for residential property rose by 60.3% over the past decade, from $556,931 at the beginning of 2015 to $892,579 at the end of 2024.

While incomes have also increased, they have not matched housing prices. In 2000, houses cost about five times the median household income. But by 2025, the median price had risen to 7.5 times the median household income.

Those who bought their first home around the peak in 2021 are likely to be hit hardest by the forecast drop in house values. According to data insight firm Cotality (formerly Corelogic), nominal prices are expected to pass their 2021 peak by mid-2029. But when adjusted for inflation, prices in mid-2030 would be a fifth below the peak.

Working into retirement

Older New Zealanders are also facing significant housing pressures.

According to a 2022 report from Treasury, over half of superannuitants still paying off mortgages spent more than 80% of their superannuation income on housing costs. Those who are mortgage-free are spending less than 20% of their super on housing.

Between 2019 and 2024, the percentage of overdue mortgages for the 50+ age groups ranged between 2% and 2.5%, compared to a range of 1% to 1.5% for all mortgages.

People between the age of 55 and 64 are likely to have purchased their homes in the late 1990s and early 2000s, so are less likely to be hurt by the 2021 peak and subsequent trough.

Despite this apparent advantage, only 38% of people between 55 and 64 are mortgage free.

KiwiSaver issues

The possibility of using accumulated KiwiSaver funds to clear a mortgage is also diminishing. As a result of the 2025 Budget changes to KiwiSaver, employee and employer contributions will rise from April 2026 to 3.5% and from April 2028 to 4%, offsetting the reduced annual government contribution.

The end of employer contributions matters particularly to the 24% of those aged over 65 years who are still in the workforce. A rule change in 2021 means employers are not required to make contributions or to deduct employee contributions, unless the employee continues to make KiwiSaver contributions.

But current global crises are affecting KiwiSaver returns. Uncertain and volatile markets, especially for actively managed funds, mean fund managers reallocate money to try to minimise losses. Not all their bets pay off.

By 2030, Stats NZ projects that approximately 265,000 people aged 65 and over will be in the workforce.

The Office for Seniors notes that although older workers have challenges finding and staying in paid work, a third of the workforce is aged over 50 and 50% of people aged 60 to 69 are employed.

Importantly, as the Retirement Commission research found, a third of people over 65 were not working by choice. An increasing number, who neither own their home nor have significant retirement savings, have to continue working past 65 because they need the money to eat and pay the bills.

As New Zealand’s population ages, and more seniors have to work to pay for the essentials, it’s clear retirement is going to look different. Betting on the value of a house to fund life after 65 is less certain than it used to be. More than ever, New Zealanders need to consider how they will live well in their later years.

Claire Dale 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. As house prices drop, will the retirement nest egg still be such a safe bet? – https://theconversation.com/as-house-prices-drop-will-the-retirement-nest-egg-still-be-such-a-safe-bet-259380

MIL OSI Analysis – EveningReport.nz –

July 16, 2025
MIL-Evening Report: As house prices drop, will the retirement nest egg still be such a safe bet?

Source: The Conversation (Au and NZ) – By Claire Dale, Research Fellow, the Pensions and Intergenerational Equity (PIE) research hub, University of Auckland, Waipapa Taumata Rau

MonthiraYodtiwong/Getty Images

Changes to KiwiSaver, global economic uncertainty and predictions house prices could drop by as much as 20% by 2030 all mean retirement is looking very different to how it once did.

A retirement strategy based on the equity held in a house is no longer as reliable as it has been in the past. Home ownership in Aotearoa New Zealand fell from 75% in 1991 to 60% in 2023 and is projected to fall to 48% in 2048.

The average age of a first-home buyer has also risen to 36, meaning an increasing number of New Zealanders (13%) are paying off their mortgages after they reach retirement age.

The number of retirees renting is also on the rise. By 2048, 40% of them will rent, placing pressure on New Zealand’s housing stock.

KiwiSaver is unlikely to replace the traditional housing nest egg. New Zealanders have, on average, NZ$37,079 in their KiwiSaver accounts, with thousands of people reaching close to retirement age with less than $10,000 saved.

Investing at the price peak

The prospect of retirement looks bleakest for those currently aged between 35 and 49 years old. A recent report from credit agency Centrix found this group was struggling the most financially.

A big part of the problem is that house prices skyrocketed just as they became first-time home buyers. The average asking price for residential property rose by 60.3% over the past decade, from $556,931 at the beginning of 2015 to $892,579 at the end of 2024.

While incomes have also increased, they have not matched housing prices. In 2000, houses cost about five times the median household income. But by 2025, the median price had risen to 7.5 times the median household income.

Those who bought their first home around the peak in 2021 are likely to be hit hardest by the forecast drop in house values. According to data insight firm Cotality (formerly Corelogic), nominal prices are expected to pass their 2021 peak by mid-2029. But when adjusted for inflation, prices in mid-2030 would be a fifth below the peak.

Working into retirement

Older New Zealanders are also facing significant housing pressures.

According to a 2022 report from Treasury, over half of superannuitants still paying off mortgages spent more than 80% of their superannuation income on housing costs. Those who are mortgage-free are spending less than 20% of their super on housing.

Between 2019 and 2024, the percentage of overdue mortgages for the 50+ age groups ranged between 2% and 2.5%, compared to a range of 1% to 1.5% for all mortgages.

People between the age of 55 and 64 are likely to have purchased their homes in the late 1990s and early 2000s, so are less likely to be hurt by the 2021 peak and subsequent trough.

Despite this apparent advantage, only 38% of people between 55 and 64 are mortgage free.

KiwiSaver issues

The possibility of using accumulated KiwiSaver funds to clear a mortgage is also diminishing. As a result of the 2025 Budget changes to KiwiSaver, employee and employer contributions will rise from April 2026 to 3.5% and from April 2028 to 4%, offsetting the reduced annual government contribution.

The end of employer contributions matters particularly to the 24% of those aged over 65 years who are still in the workforce. A rule change in 2021 means employers are not required to make contributions or to deduct employee contributions, unless the employee continues to make KiwiSaver contributions.

But current global crises are affecting KiwiSaver returns. Uncertain and volatile markets, especially for actively managed funds, mean fund managers reallocate money to try to minimise losses. Not all their bets pay off.

By 2030, Stats NZ projects that approximately 265,000 people aged 65 and over will be in the workforce.

The Office for Seniors notes that although older workers have challenges finding and staying in paid work, a third of the workforce is aged over 50 and 50% of people aged 60 to 69 are employed.

Importantly, as the Retirement Commission research found, a third of people over 65 were not working by choice. An increasing number, who neither own their home nor have significant retirement savings, have to continue working past 65 because they need the money to eat and pay the bills.

As New Zealand’s population ages, and more seniors have to work to pay for the essentials, it’s clear retirement is going to look different. Betting on the value of a house to fund life after 65 is less certain than it used to be. More than ever, New Zealanders need to consider how they will live well in their later years.

Claire Dale 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. As house prices drop, will the retirement nest egg still be such a safe bet? – https://theconversation.com/as-house-prices-drop-will-the-retirement-nest-egg-still-be-such-a-safe-bet-259380

MIL OSI Analysis – EveningReport.nz –

July 16, 2025
MIL-OSI Russia: Chinese Premier Calls on China, Australia to Form Stronger Development Synergy

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

An important disclaimer is at the bottom of this article.

Source: People’s Republic of China – State Council News

BEIJING, July 15 (Xinhua) — Chinese Premier Li Qiang on Tuesday called on China and Australia to further strengthen cooperation ties, promote trade and investment liberalization and facilitation, form stronger development synergy and effectively deal with environmental uncertainty.

Li Qiang made the remarks at the 8th China-Australia Business Leaders Roundtable, which he co-hosted with Australian Prime Minister Anthony Albanese in Beijing.

About 30 heads of chambers of commerce and enterprises of the two countries took part in the round table.

Li Qiang recalled that this year marks the 10th anniversary of the China-Australia Free Trade Agreement, and noted that over the past decade, bilateral economic and trade cooperation has demonstrated remarkable resilience and vitality.

As the Premier of the State Council pointed out, the economic structures of the two countries are highly complementary and have a solid foundation for linking industrial sectors and markets, making China and Australia natural partners for cooperation.

Li Qiang noted that China’s vast market will continuously unleash its huge consumer potential, creating more business opportunities for enterprises in both countries. He called on the two sides to strengthen cooperation in cutting-edge technologies such as artificial intelligence and life sciences to expand the capabilities of the Chinese and Australian industrial sectors.

With joint efforts by enterprises from the two countries to enhance cooperation in areas such as clean energy, electric vehicles and energy storage, a world-class green industrial chain with sustainability and competitiveness can be built, the premier stressed.

Li Qiang said governments and enterprises should move in the same direction to better promote development. He said China will continue to promote high-level opening-up, treat domestic and foreign enterprises equally, and protect the rights and interests of foreign companies and entrepreneurs in China in accordance with the law.

The Chinese leader also expressed hope that Australia would treat Chinese enterprises doing business in the country fairly and properly address issues related to market access and investment screening.

Li Qiang called on Chinese and Australian companies to maintain openness, seek cooperation, and further promote market convergence and industrial integration between the two countries.

E. Albanese noted in his speech that bilateral relations are currently developing steadily and the enthusiasm of business circles of both countries for cooperation is growing sharply.

The Australian side is ready to strengthen dialogue with the Chinese side, expand cooperation in various fields, including trade, agriculture, industry, energy resources and green development, jointly counter such a global challenge as climate change, and uphold international justice and free trade, added E. Albanese. –0–

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

.

MIL OSI Russia News –

July 16, 2025
MIL-OSI: MOBIA named an Eaton Partner Awards Winner
Source: GlobeNewswire (MIL-OSI)

DARTMOUTH, Nova Scotia, July 15, 2025 (GLOBE NEWSWIRE) — MOBIA Technology Innovations, a leading Canadian business transformation partner, proudly announced that it has been named an Eaton Partner Awards Winner for 2024. MOBIA’s commitment to delivering unequalled value to its customers with innovative technology solutions that enable successful business transformation solidified the company’s place among Eaton’s top partners in Canada.

Supporting customers across telecommunications, financial services, retail, utilities, healthcare, and many other industries, MOBIA executes technology transformations that reimagine the way medium to large enterprises operate in today’s ever-changing markets. Over the years, the company has collaborated with Eaton on many of these initiatives, confident that Eaton’s innovative technology offers the most reliable and secure power solutions for data centers and other critical enterprise infrastructure. “Working with Eaton to tailor solutions that power infrastructure and hardware for our customers has allowed us to deliver unmatched performance and peace of mind,” said Chris Peerless, Vice President at MOBIA. “As we continue to work together on these initiatives, we look forward to growing and strengthening our partnership.”

The Eaton Partner Awards recognizes channel partners who have shown strong growth and commitment to superior customer service over the last year. “MOBIA consistently embodied Eaton partner values throughout 2024, delivering outstanding service and solutions to customers,” said Jodi Bonham, IT Channel Manager at Eaton. “We are excited to see what the future of our growing partnership holds and look forward to continuing to do great work together in 2025 and beyond.”

As the partnership between MOBIA and Eaton continues to evolve, MOBIA customers will benefit from more of Eaton’s innovation, including:
- Cybersecurity – First to market with a cyber secure network card, Eaton continues to expand its cybersecurity capabilities with the new Network-M3 card.
- Brightlayer Data Center Suite – Offering a portfolio of digital solutions that enable enterprise customers to manage an increasingly complex ecosystem of IT and operational technology assets, Brightlayer seamlessly integrates with Eaton’s secure hardware.
- Power management for AI – As more customers embrace and adopt AI, their power requirements will change. Eaton’s scalable and secure power management and connectivity solutions are the perfect fit for new AI deployments.
To learn more about MOBIA contact LJ Hambly at laura.hambly@mobia.io.

ABOUT MOBIA
MOBIA is a leading expert in business transformation and innovative enterprise technology systems. With hundreds of customers across North America, MOBIA partners with organizations of all sizes, across all verticals to transform the way they work. Focused on people, processes, technology, and culture, MOBIA helps businesses reach their full potential. MOBIA is proud to be recognized as one of Canada’s Best Managed Companies and Canada’s Top Growing Companies. To learn more, visit Mobia.io

ABOUT EATON
Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we’re accelerating the planet’s transition to renewable energy, helping to solve the world’s most urgent power management challenges, and doing what’s best for our stakeholders and all of society.
Founded in 1911, Eaton is marking its 100th anniversary of being listed on the New York Stock Exchange. We reported revenues of $20.8 billion in 2022 and serve customers in more than 170 countries.

For more information, visit www.eaton.com Follow us on https://www.linkedin.com/company/eaton

The MIL Network –
July 16, 2025
MIL-OSI USA: Sen. Cantwell and Rep. Baumgartner Say SCORE Act is Big Loser for College Sports

US Senate News:

Source: United States Senator for Washington Maria Cantwell
07.15.25
Sen. Cantwell and Rep. Baumgartner Say SCORE Act is Big Loser for College Sports
Cantwell: “If you thought the dissolution of the Pac-12 was a heist, the SCORE Act is the National Championship of all heists. This legislation is a power grab by the two biggest conferences that will leave athletes, coaches, and small and mid-sized institutions behind.”
WASHINGTON, D.C. – U.S. Senator Maria Cantwell (D-WA), Ranking Member of the Senate Committee on Commerce, Science and Transportation, that oversees college sports, and Representative Michael Baumgartner (R, WA-05) called on the House Energy and Commerce Subcommittee on Commerce, Manufacturing and Trade to delay its July 15 markup of the Student Compensation and Opportunity through Rights and Endorsements (SCORE) Act, citing significant changes needed to strengthen the bill and meet its goal of improving the future of college athletics—for ALL colleges and ALL athletes.
“If you thought the dissolution of the Pac-12 was a heist, the SCORE Act is the National Championship of all heists,” said Sen. Cantwell. “This legislation is a power grab by the two biggest conferences that will leave athletes, coaches, and small and mid-sized institutions behind.”
“In its current form, the SCORE Act fails to protect what makes college sports special,” said Congressman Baumgartner. “It puts student-athletes at risk by empowering the wealthiest programs to poach talent and control the system. This bill accelerates the erosion of competitive balance, tradition, and opportunity—especially for smaller schools. I want to make sure that college athletics at WSU, Gonzaga, and EWU continue to have a strong future. If we truly care about student-athletes, we should be strengthening the institutions and values that support them, not stacking the deck against them.”
In a letter to subcommittee Chairman Gus Bilirakis and Ranking Member Jan Schakowsky, Sen. Cantwell and Rep. Baumgartner wrote: “The bill appears to be a product of the richest conferences to cement into place the current power structure in college athletics that would leave only the wealthiest schools able to compete at the highest levels of college athletics. The SCORE Act will only cause more chaos and damage to the college athletics system. We urge you to pull this flawed bill from the mark up until the defects are fixed.”
Sen. Cantwell and Rep. Baumgartner called out big flaws with the bill’s framework and identified six areas that need to be improved:
consider policies to increase revenue for small and mid-sized schools and for women’s and Olympic sports;
give college athletes a voice in how policies are made and implemented, including those related to conference realignment;
address the inequities and limitations of the House v. NCAA settlement regarding women’s athletics;
address the budgetary concerns of small and mid-sized schools;
ensure health and safety protections; and,
establish a commission on the future of college athletics.
“College sports are important to student athletes, schools, alumni, fans, and communities across the United States,” their letter concluded. “Congress needs to get this right and not miss an opportunity to fix the college sports landscape for generations to come. We urge everyone to think long-term and big picture about the future of college athletics that we want to achieve.”
The text of the letter is below and can be found HERE.
Dear Chairman Bilirakis and Ranking Member Schakowsky,
We have significant concerns about H.R. 4312, the “Student Compensation and Opportunity through Rights and Endorsements” (SCORE) Act, slated to be marked up by the Subcommittee on Commerce, Manufacturing, and Trade. The bill appears to be a product of the richest conferences to cement into place the current power structure in college athletics that would leave only the wealthiest schools able to compete at the highest levels of college athletics. The SCORE Act will only cause more chaos and damage to the college athletics system. We urge you to pull this flawed bill from the mark up until the defects are fixed.
First, the bill entrenches the NCAA’s authority at a time when the NCAA’s governance structure is becoming increasingly dominated by wealthier conferences. The SCORE Act hands the NCAA unfettered ability to set rules that would make the rich schools richer, like representation on NCAA championship selection committees—and the tournament revenue that comes with it.
Second, while we are pleased that college athletes can earn a share of the revenue they generate for their schools, the SCORE Act’s formula for determining the size of revenue shared with players will make it difficult for small and mid-sized schools to compete with wealthy schools. The non-policy-based formula in the bill is at least 22 percent of the average sports revenue of the 70 highest-revenue schools—an amount currently estimated to be $20.5 million. Very few schools will be able to pay out this full amount and the situation will be exacerbated over time as the limits increase each year as average revenue increases. These schools will not be able to keep up with wealthy schools who plan to pay their athletes the full $20.5 million each year or more. This will accelerate the loss of talent from these smaller schools, turning them into mere “feeder” schools for the largest programs.
Third, the SCORE Act ignores important national policies regarding college sports. It ignores the explosive growth of women’s sports and how revenue sharing under the House v. NCAA settlement may jeopardize these gains and lead to far less money flowing to women’s sports. It ignores the importance of college athletics to the Olympic pipeline. The SCORE Act will inevitably lead to the loss of men’s and women’s Olympic sports as schools are implicitly forced to devote ever more resources to the college football arms race. The SCORE Act also fails to address how conference realignment has changed the map of college sports and the absurdity of sending college athletes coast-to-coast on a weekly basis while foreclosing any opportunity for athletes to have a voice at the table to advocate for themselves as these changes continue to play out.
The SCORE Act is a missed opportunity to deliver creative solutions that will ensure a sustainable future for college athletics beyond the wealthiest programs. Rather than rush the SCORE Act through as is, we should press pause to fix the issues facing schools of all sizes and opportunity for all athletes. The Act should: (1) consider policies to increase revenue for small and mid-sized schools and for women’s and Olympic sports; (2) give college athletes a voice in how policies are made and implemented, including those related to conference realignment; (3) address the inequities and limitations of the House v. NCAA settlement regarding women’s athletics; (4) address the budgetary concerns of small and mid-sized schools; (5) ensure health and safety protections; and (6) establish a commission on the future of college athletics.
College sports are important to student athletes, schools, alumni, fans, and communities across the United States. Congress needs to get this right and not miss an opportunity to fix the college sports landscape for generations to come. We urge everyone to think long-term and big picture about the future of college athletics that we want to achieve.
We look forward to working with you on these important issues.

MIL OSI USA News –

July 16, 2025
MIL-OSI Africa: South Africa: Presidency condemns Democratic Alliance (DA) harassment of Presidential Envoy, Mcebisi Jonas

Source: APO – Report:

.

The Presidency cautions South Africa against treating Democratic Alliance (DA) disinformation on matters of international relations and diplomacy as official Government policy.

The DA’s latest effort to embarrass President Cyril Ramaphosa’s Special Envoy to North America, Mr Jonas Mcebisi, involves claims – in the DA’s framing – that the United States has rejected Mr Jonas’s “credentials” and that Mr Jonas is therefore unable to perform his role as Special Envoy.

The DA seeks to add sensationalism to its claim by suggesting President Ramaphosa and Mr Jonas face a crisis in view of the United States’ pending implementation of trade tariffs announced several days ago by President Donald Trump.

The facts around this matter include the reality that Special Envoys do not present diplomatic credentials to host countries in the way designated Heads of Mission or other diplomats are.

While envoys are not required to account publicly for the work they undertake, the President’s own accounts of his performance include elements facilitated by envoys.

Mr Jonas’s outreach does not in any way supersede the leading role played by the Department of Trade, Industry and Competition (DTIC) and the Department of International Relations and Cooperation (DIRCO) in our difficult but constructive trade negotiations with the United States, or in our diplomatic relations with this longstanding partner.

Mr Jonas has, however, played an important role in working with the DTIC to develop the trade proposals in which South Africa is currently engaging the United States in good faith and with the expectation of mutually beneficial terms.

Similarly, he has been assisting DIRCO in Government’s efforts to reset diplomatic relations and all areas of cooperation between South Africa and the United States.

While these processes are underway and in view of President Ramaphosa’s telephonic contact with President Trump as well as his Working Visit to Washington in May 2025, President Ramaphosa has not had a need for Mr Jonas to visit the United States on urgent business.

The Presidency is therefore concerned about the Democratic Alliance’s persistent campaign against South Africa’s national interest and its posture of trying to embarrass and belittle our country and in this specific circumstance, Mr Jonas.

This campaign has its origins in a Democratic Alliance visit to the United States earlier this year, to advance an ideological agenda rather than our national interest.

The DA has positioned itself as part of a right-wing nexus that seeks to use a foreign state to effect changes to democratically developed national policies in our own country.

The DA is trying cheaply but dangerously to exploit a critical engagement between South Africa and the United States to protest President Ramaphosa’s removal of Mr Andrew Whitfield as Deputy Minister of Trade, Industry and Competition.

The DA’s pronouncements and insults against countries and international organisations – such as the Republic of Cuba or the United Nations Relief and Works Agency for Palestine Refugees – offends South Africa’s international relations and posture.

If the DA were to succeed in undermining South Africa relations with various nations or institutions, the party will harm the viability of businesses and livelihoods of hundreds of thousands of South Africans who work in sectors that depend on the expansion of our trade relations with the world.

– on behalf of The Presidency of the Republic of South Africa.

MIL OSI Africa –

July 16, 2025
MIL-OSI Canada: Saskatchewan’s Manufacturing Sales Sees Second Best Growth in Canada

Source: Government of Canada regional news

Released on July 15, 2025

Strong Manufacturing Sector Fueling Economic Resilience

Today’s manufacturing sales figures show that Saskatchewan saw an increase of 4.4 per cent in May 2025 compared to April 2025. This is the second highest month-over-month increase among the provinces.

“These positive numbers highlight once again that Saskatchewan remains the best place in Canada to live, work, raise a family and start a business,” Trade and Export Development Minister Warren Kaeding said. “The huge growth we are seeing in manufacturing sales means businesses can invest with confidence as our economy continues to grow and prosper.”

Manufacturing sales, including shipments, inventories and orders, represent the dollar value of goods sold by manufacturers.

Saskatchewan continues to see significant economic growth. Statistics Canada’s latest Gross Domestic Product (GDP) numbers indicate that the province’s real GDP at basic prices reached an all-time high of $80.5 billion in 2024, increasing by $2.6 billion, or 3.4 per cent. This places Saskatchewan second in the nation for real GDP growth and above the national average of 1.6 per cent.

Private capital investment in Saskatchewan increased last year by 17.3 per cent to $14.7 billion, ranking first among provinces. Private capital investment is projected to reach $16.2 billion in 2025, an increase of 10.1 per cent over 2024. This is the second-highest anticipated percentage increase among the provinces.

Last year, the Government of Saskatchewan unveiled its new Securing the Next Decade of Growth – Saskatchewan’s Investment Attraction Strategy. This strategy, combined with Saskatchewan’s trade and investment website, InvestSK.ca, contains helpful information for potential markets and solidifies the province as the best place to do business in Canada.

For more information, visit: InvestSK.ca.

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For more information, contact:

MIL OSI Canada News –

July 16, 2025
MIL-OSI Canada: Halifax Marine Container Examination Facility Opening
Source: Government of Canada News

Halifax, NS, July 15, 2025 — The Halifax Port Authority and the Canada Border Services Agency (CBSA) are pleased to invite members of the media to the ceremonial opening of the Marine Container Examination Facility (MCEF) in Halifax, Nova Scotia.

The following representatives will be present:
- Darren Fisher, Member of Parliament for Dartmouth-Cole Harbour, on behalf of the Honourable Gary Anandasangaree, Minister of Public Safety
- Jennifer Lutfallah, Vice-President, CBSA Commercial and Trade Branch
- Dominic Mallette, Regional Director General, CBSA Atlantic Region
- Fulvio Fracassi, President and CEO, Halifax Port Authority
- Juanita Peters, Executive Director, Africville Museum
- Jim Lambe, General Manager, Atlantic Canada, Logistec Corporation
- Kevin Piper, President, Halifax Longshoremen’s Association
CBSA officials will be on site to discuss detection tools.

Date: Wednesday, July 16, 2025
Time: 10:00 a.m.
Place: 6015 Africville Rd, Halifax, Nova Scotia

RSVP: Media who wish to participate in the event must register and provide their contact information in advance by contacting communicationsatl@cbsa-asfc.gc.ca. Identification is required to access the building. Parking is limited; please carpool if possible.

MIL OSI Canada News –
July 16, 2025
MIL-OSI USA: Feenstra Leads Legislation to Support Rural Behavioral Health by Fully Funding Farm and Ranch Stress Assistance Network

Source: United States House of Representatives – Representative Randy Feenstra (IA-04)

WASHINGTON, D.C. – Today, U.S. Rep. Randy Feenstra (R-Hull) introduced the Farmers First Act, which would expand and improve behavioral health services in rural communities and connect those in times of crisis with trained medical professionals to receive the personalized care that they need.

This legislation would reauthorize the Farm and Ranch Stress Assistance Network (FRSAN), increase funding to a total of $15,000,000 annually over the next five years, and allow FRSAN regional centers to establish referral connections with certified community behavioral health clinics, critical access hospitals, and rural health centers.

“Agriculture is the economic engine of Iowa, and our farmers and producers work long hours and make unseen sacrifices to feed and fuel our country and the world. Those sacrifices can take a toll on our farm producers, especially when commodity prices tumble or severe weather destroys crops,” said Rep. Feenstra. “It’s why I’m glad to lead legislation to fully fund the Farm and Ranch Stress Assistance Network, providing farmers with real support in times of crisis. I will always stand with our producers and ensure that they have access to the high-quality healthcare they deserve.”

“Dairy farmers routinely endure volatile economic environments that are naturally cause for emotional stress. The Farm and Ranch Stress Assistance Network provides vital resources that can support producers and their families during times of crisis. We commend Representative Randy Feenstra and Ranking Member Angie Craig for leading the bipartisan Farmers First Act to continue and strengthen FRSAN for the betterment of all farmers and rural communities,” said Gregg Doud, President and CEO of the National Milk Producers Federation.

“On behalf of over 60,000 pork producers nationwide, we commend Congressman Feenstra and Ranking Member Craig for addressing the critical issue of mental and behavioral health in agriculture. As farmers and ranchers, we face unique stressors that are often beyond our control. By prioritizing these resources, we can strengthen the resilience of rural communities and ensure long-term support for both producers today and future generations,” said Duane Stateler, President of National Pork Producers Council.

“Farmers face incredible stressors in their day-to-day work and often feel as though the weight of the world rests on their shoulders as they navigate tough times while maintaining farms that have been passed down through multiple generations of family members,” said Kenneth Hartman Jr., Illinois farmer and President of the National Corn Growers Association. “Yet, they often find it hard to access the mental health tools they need to cope with these challenges. That’s why we are deeply appreciative for the sponsors of this legislation for working to extend mental health resources to growers through this important legislation.”

“From trade uncertainty to labor shortages and natural disasters, many stressors are weighing heavily on the minds of farmers and ranchers. Resources supported through the Farm and Ranch Stress Assistance Network are more critical now than at any time in recent memory. Farm Bureau appreciates Representatives Craig and Feenstra, as well as Senators Baldwin and Ernst for their tireless commitment to supporting farmer and rancher mental health across the country,” said Sam Kieffer, Vice President of Public Policy at the American Farm Bureau Federation.

“U.S. soybean farmers face serious pressures, from the impacts of ongoing tariffs to looming, unscientific threats to crop protection tools and seed oils. These policy and market challenges take a toll, not just financially, but mentally. Mental health remains an often-unspoken crisis in rural communities, and ASA is committed to addressing it head-on. The Farmers First Act of 2025 would provide critical support by reauthorizing the Farm and Ranch Stress Assistance Network and strengthening mental health resources farmers can count on. We thank Representative Feenstra for championing this legislation and standing with farm families,” said Caleb Ragland, President of the American Soybean Association and soybean farmer from Magnolia, Kentucky.

“Farmers and ranchers across the United States face unique and extreme stresses in their work to feed, fuel, and clothe the world. NASDA applauds the bipartisan Farmers First Act, which bolsters access to critical mental health resources through the Farm and Ranch Stress Assistance Network. State departments of agriculture play an important role in coordinating FRSAN operations and NASDA looks forward to continuing to support these invaluable activities,” said Ted McKinney, Chief Executive Officer of the National Association of State Departments of Agriculture.

“When farmers struggle, ag retailers feel it too—financially, emotionally, and as part of the same rural fabric. The Farmers First Act recognizes that mental health is a shared concern in agriculture, and strengthening the Farm and Ranch Stress Assistance Network helps support not just our customers, but our communities and our own teams as well,” said Hunter Carpenter, Senior Director of Public Policy at the Agricultural Retailers Association.

“The Farmer Veteran Coalition strongly supports the reauthorization of the Farmers First Act. Expanding and strengthening the Farm and Ranch Stress Assistance Network is essential to ensuring farmers, ranchers have access to the mental health resources they need to thrive. We commend Representatives Feenstra and Craig, as well as Senators Baldwin and Ernst, for their bipartisan leadership in prioritizing the well-being of those who feed our nation. This bill will provide critical support for agricultural producers facing stress, isolation, and mental health challenges, and we urge swift passage this Congress,” said Jeanette Lombardo, Chief Executive Officer of the Farmer Veteran Coalition.

“The National Rural Health Association (NRHA) applauds Congressman Feenstra and Ranking Member Craig for their leadership on ensuring access to mental health care for rural agricultural communities. The Farmers First Act supports the continuation of the Farm and Ranch Stress Assistance Network, expanding the network of rural providers to deliver critical services to farming and ranching populations. We look forward to working with Congress to continue bringing much-needed resources to our agricultural populations,” said Alan Morgan, Chief Executive Officer of the National Rural Health Association.

“Farmers in rural communities face unique mental health and substance use challenges, often with limited access to care,” said Chuck Ingoglia, President and CEO of the National Council for Mental Wellbeing. “The reintroduction of the Farmer’s First Act by Representatives Feenstra and Craig is a meaningful step toward expanding access to high-quality behavioral health services in agricultural communities. By supporting programs that leverage proven models like Certified Community Behavioral Health Clinics (CCBHCs), this bill will help ensure that farmers and their families can access comprehensive, coordinated care no matter where they live.”

“Farming and the financial insecurity associated with farming can be very stressful. Farmers dealing with stress-related mental health challenges often feel stigmatized if they seek help, which only compounds the problem. We applaud Representatives Feenstra (R-IA) and Craig (D-MN) and Senators Baldwin (D-WI) and Ernst (R-IA) for their bipartisan leadership in introducing the Farmers First Act to increase resources available to farmers and rural communities to address mental health challenges,” said Steve Etka, Policy Director, Midwest Dairy Coalition.

“Farmers are daily facing the changing and unpredictable weather patterns that can devastate the best laid plans. They must deal with rising cost of inputs, uncertainty about trade, uncertainty about support services, uncertainty about the role of the USDA and managing difficult financial decisions against a backdrop of uncertainty around the domestic economy. Organic dairy farmers care for the environment, care for their livestock and for the health and welfare of their family and their customers every day. Dairy farming is many times a solitary occupation and farmers need access to all the resources possible to deal with the stress and uncertainty in their lives. We wholeheartedly support the Farmers First Act and all the assistance it can provide to care for our farm families,” said Ed Maltby, Executive Director of the Northeast Organic Dairy Producers Alliance.

“Ensuring sufficient access to evidence-based mental health services continues to be a challenge in many rural and agricultural communities, in many cases a challenge that has endured over generations,” said Arthur C. Evans Jr., CEO of the American Psychological Association Services, Inc. (APA Services). “The Farm and Ranch Stress Assistance Network program continues to be a lifeline to many of these communities. APA Services applauds Representatives Feenstra and Craig and Senators Baldwin and Ernst for their efforts to ensure adequate mental health resources in rural communities, and we ask Congress to swiftly enact the Farmers First Act.”

“Any farmer will tell you—agriculture is an incredibly demanding and often stressful profession, especially during times of economic hardship. Tragically, suicide rates among farmers are two to five times higher than the national average. One of the biggest challenges in addressing this crisis is the persistent stigma around mental health in rural communities, which too often prevents individuals from seeking help. NAWG is deeply grateful to Congressman Feenstra for his leadership on this critical legislation and for his unwavering commitment to expanding access to mental health resources for farmers and rural communities across the country,” said Chandler Goule, Chief Executive Officer of the National Association of Wheat Growers.

“The Farm and Ranch Stress Assistance Network helps provide essential support to our nation’s producers” said Doug O’Brien, President and CEO of the National Cooperative Business Association. “The National Cooperative Business Association applauds the bipartisan leadership to increase access to mental health services for rural communities while providing a critical lifeline to our farmers and ranchers”

“The Organic Trade Association applauds Congressman Feenstra for recognizing that a healthy farm system begins with healthy farmers,” said Matthew Dillon, Co-CEO of the Organic Trade Association. “We proudly support the Farmers First Act which safeguards the well-being of farmers.”

“Farming is a stressful job, even in good times, and rural residents often face unique barriers to seeking mental health care,” said Christy Seyfert, Farm Credit Council President and CEO. “FRSAN brings valuable stress assistance services and expertise to the farm and ranch communities most in need of resources. Farm Credit commends Ranking Member Craig, Representative Feenstra, and Senators Baldwin and Ernst for their leadership on the Farmers First Act.”

“Since it was funded in the 2018 Farm Bill, the Farm and Ranch Stress Assistance Network (FRSAN) has been an essential lifeline for farmers, ranchers and farmworkers, who face increased levels of stress and often lack access to mental health support services,” said Hannah Tremblay, Farm Aid’s Policy & Advocacy Manager. “Farm Aid enthusiastically supports the Farmers First Act of 2025 which continues the crucial work of the FRSAN to support and strengthen the agricultural workers we all depend upon. Importantly, the increased funding will allow for deeper support networks and increased outreach to underserved farmers and agricultural workers. As farmers struggle with an uncertain farm economy, FRSAN is now more critical than ever.”

“We are grateful to Representatives Randy Feenstra and Angie Craig for reaffirming the clear and present need for increased funding of the Farm and Ranch Stress Assistance network. Many reasons exist for ongoing farm stress and mental health challenges for farmers and farm workers. Continued FRSAN funding is essential to ensure critical support services and programming reach populations where the need is great, and resources are often limited,” said David Howard, Policy Development Director at Young Farmers.

“Farming can be incredibly stressful, and too many rural communities still don’t have the mental health support they need,” said Rob Larew, President of National Farmers Union. “The Farmers First Act will help get essential resources to farmers who are struggling. We thank Representatives Feenstra and Craig and Senators Baldwin and Ernst for leading the charge and urge Congress to reauthorize FRSAN with increased funding.”

###

MIL OSI USA News –

July 16, 2025
MIL-OSI USA: Feenstra Leads Legislation to Support Rural Behavioral Health by Fully Funding Farm and Ranch Stress Assistance Network

Source: United States House of Representatives – Representative Randy Feenstra (IA-04)

WASHINGTON, D.C. – Today, U.S. Rep. Randy Feenstra (R-Hull) introduced the Farmers First Act, which would expand and improve behavioral health services in rural communities and connect those in times of crisis with trained medical professionals to receive the personalized care that they need.

This legislation would reauthorize the Farm and Ranch Stress Assistance Network (FRSAN), increase funding to a total of $15,000,000 annually over the next five years, and allow FRSAN regional centers to establish referral connections with certified community behavioral health clinics, critical access hospitals, and rural health centers.

“Agriculture is the economic engine of Iowa, and our farmers and producers work long hours and make unseen sacrifices to feed and fuel our country and the world. Those sacrifices can take a toll on our farm producers, especially when commodity prices tumble or severe weather destroys crops,” said Rep. Feenstra. “It’s why I’m glad to lead legislation to fully fund the Farm and Ranch Stress Assistance Network, providing farmers with real support in times of crisis. I will always stand with our producers and ensure that they have access to the high-quality healthcare they deserve.”

“Dairy farmers routinely endure volatile economic environments that are naturally cause for emotional stress. The Farm and Ranch Stress Assistance Network provides vital resources that can support producers and their families during times of crisis. We commend Representative Randy Feenstra and Ranking Member Angie Craig for leading the bipartisan Farmers First Act to continue and strengthen FRSAN for the betterment of all farmers and rural communities,” said Gregg Doud, President and CEO of the National Milk Producers Federation.

“On behalf of over 60,000 pork producers nationwide, we commend Congressman Feenstra and Ranking Member Craig for addressing the critical issue of mental and behavioral health in agriculture. As farmers and ranchers, we face unique stressors that are often beyond our control. By prioritizing these resources, we can strengthen the resilience of rural communities and ensure long-term support for both producers today and future generations,” said Duane Stateler, President of National Pork Producers Council.

“Farmers face incredible stressors in their day-to-day work and often feel as though the weight of the world rests on their shoulders as they navigate tough times while maintaining farms that have been passed down through multiple generations of family members,” said Kenneth Hartman Jr., Illinois farmer and President of the National Corn Growers Association. “Yet, they often find it hard to access the mental health tools they need to cope with these challenges. That’s why we are deeply appreciative for the sponsors of this legislation for working to extend mental health resources to growers through this important legislation.”

“From trade uncertainty to labor shortages and natural disasters, many stressors are weighing heavily on the minds of farmers and ranchers. Resources supported through the Farm and Ranch Stress Assistance Network are more critical now than at any time in recent memory. Farm Bureau appreciates Representatives Craig and Feenstra, as well as Senators Baldwin and Ernst for their tireless commitment to supporting farmer and rancher mental health across the country,” said Sam Kieffer, Vice President of Public Policy at the American Farm Bureau Federation.

“U.S. soybean farmers face serious pressures, from the impacts of ongoing tariffs to looming, unscientific threats to crop protection tools and seed oils. These policy and market challenges take a toll, not just financially, but mentally. Mental health remains an often-unspoken crisis in rural communities, and ASA is committed to addressing it head-on. The Farmers First Act of 2025 would provide critical support by reauthorizing the Farm and Ranch Stress Assistance Network and strengthening mental health resources farmers can count on. We thank Representative Feenstra for championing this legislation and standing with farm families,” said Caleb Ragland, President of the American Soybean Association and soybean farmer from Magnolia, Kentucky.

“Farmers and ranchers across the United States face unique and extreme stresses in their work to feed, fuel, and clothe the world. NASDA applauds the bipartisan Farmers First Act, which bolsters access to critical mental health resources through the Farm and Ranch Stress Assistance Network. State departments of agriculture play an important role in coordinating FRSAN operations and NASDA looks forward to continuing to support these invaluable activities,” said Ted McKinney, Chief Executive Officer of the National Association of State Departments of Agriculture.

“When farmers struggle, ag retailers feel it too—financially, emotionally, and as part of the same rural fabric. The Farmers First Act recognizes that mental health is a shared concern in agriculture, and strengthening the Farm and Ranch Stress Assistance Network helps support not just our customers, but our communities and our own teams as well,” said Hunter Carpenter, Senior Director of Public Policy at the Agricultural Retailers Association.

“The Farmer Veteran Coalition strongly supports the reauthorization of the Farmers First Act. Expanding and strengthening the Farm and Ranch Stress Assistance Network is essential to ensuring farmers, ranchers have access to the mental health resources they need to thrive. We commend Representatives Feenstra and Craig, as well as Senators Baldwin and Ernst, for their bipartisan leadership in prioritizing the well-being of those who feed our nation. This bill will provide critical support for agricultural producers facing stress, isolation, and mental health challenges, and we urge swift passage this Congress,” said Jeanette Lombardo, Chief Executive Officer of the Farmer Veteran Coalition.

“The National Rural Health Association (NRHA) applauds Congressman Feenstra and Ranking Member Craig for their leadership on ensuring access to mental health care for rural agricultural communities. The Farmers First Act supports the continuation of the Farm and Ranch Stress Assistance Network, expanding the network of rural providers to deliver critical services to farming and ranching populations. We look forward to working with Congress to continue bringing much-needed resources to our agricultural populations,” said Alan Morgan, Chief Executive Officer of the National Rural Health Association.

“Farmers in rural communities face unique mental health and substance use challenges, often with limited access to care,” said Chuck Ingoglia, President and CEO of the National Council for Mental Wellbeing. “The reintroduction of the Farmer’s First Act by Representatives Feenstra and Craig is a meaningful step toward expanding access to high-quality behavioral health services in agricultural communities. By supporting programs that leverage proven models like Certified Community Behavioral Health Clinics (CCBHCs), this bill will help ensure that farmers and their families can access comprehensive, coordinated care no matter where they live.”

“Farming and the financial insecurity associated with farming can be very stressful. Farmers dealing with stress-related mental health challenges often feel stigmatized if they seek help, which only compounds the problem. We applaud Representatives Feenstra (R-IA) and Craig (D-MN) and Senators Baldwin (D-WI) and Ernst (R-IA) for their bipartisan leadership in introducing the Farmers First Act to increase resources available to farmers and rural communities to address mental health challenges,” said Steve Etka, Policy Director, Midwest Dairy Coalition.

“Farmers are daily facing the changing and unpredictable weather patterns that can devastate the best laid plans. They must deal with rising cost of inputs, uncertainty about trade, uncertainty about support services, uncertainty about the role of the USDA and managing difficult financial decisions against a backdrop of uncertainty around the domestic economy. Organic dairy farmers care for the environment, care for their livestock and for the health and welfare of their family and their customers every day. Dairy farming is many times a solitary occupation and farmers need access to all the resources possible to deal with the stress and uncertainty in their lives. We wholeheartedly support the Farmers First Act and all the assistance it can provide to care for our farm families,” said Ed Maltby, Executive Director of the Northeast Organic Dairy Producers Alliance.

“Ensuring sufficient access to evidence-based mental health services continues to be a challenge in many rural and agricultural communities, in many cases a challenge that has endured over generations,” said Arthur C. Evans Jr., CEO of the American Psychological Association Services, Inc. (APA Services). “The Farm and Ranch Stress Assistance Network program continues to be a lifeline to many of these communities. APA Services applauds Representatives Feenstra and Craig and Senators Baldwin and Ernst for their efforts to ensure adequate mental health resources in rural communities, and we ask Congress to swiftly enact the Farmers First Act.”

“Any farmer will tell you—agriculture is an incredibly demanding and often stressful profession, especially during times of economic hardship. Tragically, suicide rates among farmers are two to five times higher than the national average. One of the biggest challenges in addressing this crisis is the persistent stigma around mental health in rural communities, which too often prevents individuals from seeking help. NAWG is deeply grateful to Congressman Feenstra for his leadership on this critical legislation and for his unwavering commitment to expanding access to mental health resources for farmers and rural communities across the country,” said Chandler Goule, Chief Executive Officer of the National Association of Wheat Growers.

“The Farm and Ranch Stress Assistance Network helps provide essential support to our nation’s producers” said Doug O’Brien, President and CEO of the National Cooperative Business Association. “The National Cooperative Business Association applauds the bipartisan leadership to increase access to mental health services for rural communities while providing a critical lifeline to our farmers and ranchers”

“The Organic Trade Association applauds Congressman Feenstra for recognizing that a healthy farm system begins with healthy farmers,” said Matthew Dillon, Co-CEO of the Organic Trade Association. “We proudly support the Farmers First Act which safeguards the well-being of farmers.”

“Farming is a stressful job, even in good times, and rural residents often face unique barriers to seeking mental health care,” said Christy Seyfert, Farm Credit Council President and CEO. “FRSAN brings valuable stress assistance services and expertise to the farm and ranch communities most in need of resources. Farm Credit commends Ranking Member Craig, Representative Feenstra, and Senators Baldwin and Ernst for their leadership on the Farmers First Act.”

“Since it was funded in the 2018 Farm Bill, the Farm and Ranch Stress Assistance Network (FRSAN) has been an essential lifeline for farmers, ranchers and farmworkers, who face increased levels of stress and often lack access to mental health support services,” said Hannah Tremblay, Farm Aid’s Policy & Advocacy Manager. “Farm Aid enthusiastically supports the Farmers First Act of 2025 which continues the crucial work of the FRSAN to support and strengthen the agricultural workers we all depend upon. Importantly, the increased funding will allow for deeper support networks and increased outreach to underserved farmers and agricultural workers. As farmers struggle with an uncertain farm economy, FRSAN is now more critical than ever.”

“We are grateful to Representatives Randy Feenstra and Angie Craig for reaffirming the clear and present need for increased funding of the Farm and Ranch Stress Assistance network. Many reasons exist for ongoing farm stress and mental health challenges for farmers and farm workers. Continued FRSAN funding is essential to ensure critical support services and programming reach populations where the need is great, and resources are often limited,” said David Howard, Policy Development Director at Young Farmers.

“Farming can be incredibly stressful, and too many rural communities still don’t have the mental health support they need,” said Rob Larew, President of National Farmers Union. “The Farmers First Act will help get essential resources to farmers who are struggling. We thank Representatives Feenstra and Craig and Senators Baldwin and Ernst for leading the charge and urge Congress to reauthorize FRSAN with increased funding.”

###

MIL OSI USA News –

July 16, 2025
MIL-OSI USA: Donalds Commends USTR For Addressing Fairness In Pharmaceutical Pricing And Putting The American People First

Source: United States House of Representatives – Representative Byron Donalds (R-FL)

WASHINGTON – Congressman Byron Donalds (R-FL) joined Congressman Vern Buchanan (R-FL), Congressman Jodey Arrington (R-TX), and thirty-two additional House colleagues in commending the Office of the US Trade Representative for addressing issues of fairness in pharmaceutical pricing and reciprocal trade. Congressman Donalds released the following statement:

“Our country makes up less than five percent of the world’s population, yet we fund seventy-five percent of the world’s pharmaceutical profits. This is wrong, this is unfair, and this cannot stand. Government must put the American people first and I’m proud to join my colleagues in this critical initiative.”

Read the full text of the letter here or below:

Ambassador Jamieson Greer
United States Trade Representative
Office of the United States Trade Representative
600 17th Street NW, Washington DC, 20508

Dear Ambassador Greer,

We write to applaud you for demonstrating strong leadership by issuing the “Request for Comments Regarding Foreign Nations Freeloading on American-Financed Innovation” to address discriminatory policies and practices by foreign entities that cause American patients to pay a disproportionate share of the cost of global pharmaceutical research and development (R&D). We believe this is unsustainable because it both threatens the resiliency of the U.S. biopharmaceutical supply chain and increases costs for American patients.

The American health care system bears the burden of subsidizing pharmaceutical R&D that is used across the world. In fact, despite the U.S. having less than 5 percent of the world’s population, the American patients fund approximately 75 percent of global pharmaceutical profits.

Pharmaceutical R&D is both a costly and risky endeavor. For example, in 2019, the pharmaceutical industry spent $83 billion on R&D, with $62 billion spent domestically across all companies operating within the U.S. When adjusted for inflation, this is 10 times what the biopharmaceutical industry spent on R&D in the 1980s. In 2023, manufacturers invested over $96 billion in R&D, with over $71 billion in U.S. investments alone. This has led to an increased number of new medicines and potential cures for patients. Yet, only about 10 percent of assets that are in development are ultimately approved by world-wide regulatory bodies, and the expected cost to develop and bring a new drug to market can range from $1 billion to $2 billion.

The U.S. is the world leader in biopharmaceutical innovation. New medicines are most often developed and launched first in the U.S., including life-saving therapies for cancers and rare diseases. Nearly 90 percent of all medicines launched between 2012 and 2021 were reimbursed in and available to patients in America; however, fewer patients had access to the same medicines abroad—for example, 48 percent of new medicines in the United Kingdom, 24 percent in Australia and 21 percent in Canada. Anti-innovation policies in other countries not only end up costing American patients more, but they threaten global access to medicines and potential cures.

We are encouraged by USTR’s public comment process on this important issue, and we support utilizing the full force of the U.S. government to ensure other countries appropriately value American innovation. We look forward to working collaboratively with the Executive Branch to address foreign freeloading while ensuring the U.S. remains the clear world leaders when it comes to innovative pharmaceutical products. One Congressional proposal worth considering is the creation of a Chief Pharmaceutical Negotiator within USTR. This role would be specifically tasked with ensuring trade negotiations prioritize reimbursement for innovative medicines and our trading partners are held accountable when they adopt price control measures or other discriminatory practices that shift a disproportionate share of R&D costs back onto American patients.

The price setting policies that other countries frequently adopt both undervalue medicines in the non-U.S. market and ultimately make life-saving therapies more expensive for U.S. patients. We applaud the Trump Administration for highlighting the impact foreign “freeloaders” have on drug prices for American patients. Simply put: the U.S. should not be forced to subsidize medicine costs for the rest of the world at the expense of American patients.

Sincerely,

Vern Buchanan (R-FL) Member of Congress
Jodey C. Arrington (R-TX) Member of Congress
Byron Donalds (R-FL) Member of Congress
Adrian Smith, (R-NE) Member of Congress
Aaron Bean (R-FL) Member of Congress
Nicole Malliotakis (R-NY) Member of Congress
Charles J. Fleischmann (R-TN) Member of Congress
Carol D. Miller (R-WV) Member of Congress
David D. Valadao (R-CA) Member of Congress
Jeff Crank (R-CO) Member of Congress
Diana Harshbarger (R-TN) Member of Congress
Pat Harrigan (R-NC) Member of Congress
Mike Bost (R-IL) Member of Congress
Brian K. Fitzpatrick (R-PA) Member of Congress
Claudia Tenney (R-NY) Member of Congress
Nathaniel Moran (R-TX) Member of Congress
Kat Cammack (R-FL) Member of Congress
Rob Bresnahan Jr. (R-PA) Member of Congress
Randy Feenstra (R-IA) Member of Congress
Rich McCormick (R-GA) Member of Congress
Michelle Fischbach (R-MN) Member of Congress
Gabe Evans (R-CO) Member of Congress
Mike Carey (R-OH) Member of Congress
Max L. Miller (R-OH) Member of Congress
Tim Moore (R-NC) Member of Congress
Blake D. Moore (R-UT) Member of Congress
Rick W. Allen (R-GA) Member of Congress
Derek Schmidt (R-KS) Member of Congress
Thomas H. Kean Jr. (R-NJ) Member of Congress
Darin LaHood (R-IL) Member of Congress
Don Bacon (R-NE) Member of Congress
Richard Hudson (R-NC) Member of Congress
Pete Stauber (R-MN) Member of Congress
Mark B. Messmer (R-IN) Member of Congress
Neal P. Dunn (R-FL) Member of Congress

###

MIL OSI USA News –

July 16, 2025

MIL-OSI: Siili Solutions Plc: Share Repurchase 15.7.2025

Source: GlobeNewswire (MIL-OSI)

Siili Solutions Plc	Announcement 15.7.2025


Siili Solutions Plc: Share Repurchase 15.7.2025

In the Helsinki Stock Exchange

Trade date	15.7.2025
Bourse trade	Buy
Share	SIILI
Amount	950	Shares
Average price/ share	6,6200	EUR
Total cost	6 289,00	EUR


Siili Solutions Plc now holds a total of 30 078 shares
including the shares repurchased on 15.7.2025

The share buybacks are executed in compliance with Regulation
No. 596/2014 of the European Parliament and Council (MAR) Article 5
and the Commission Delegated Regulation (EU) 2016/1052.

On behalf of Siili Solutions Plc

Nordea Bank Oyj

Sami Huttunen	Ilari Isomäki

Further information:
CFO Aleksi Kankainen
Email: aleksi.kankainen@siili.com
Tel. +358 50 584 2029

www.siili.com

Attachment

SIILI 15.7.2025 Trades

The MIL Network –

July 16, 2025

Category: Trade

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