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  • MIL-OSI Analysis: Weird space weather seems to have influenced human behavior on Earth 41,000 years ago – our unusual scientific collaboration explores how

    Source: The Conversation – USA – By Raven Garvey, Associate Professor of Anthropology, University of Michigan

    Wandering magnetic fields would have had noticeable effects for humans. Maximilian Schanner (GFZ Helmholtz Centre for Geosciences, Potsdam, Germany)

    Our first meeting was a bit awkward. One of us is an archaeologist who studies how past peoples interacted with their environments. Two of us are geophysicists who investigate interactions between solar activity and Earth’s magnetic field.

    When we first got together, we wondered whether our unconventional project, linking space weather and human behavior, could actually bridge such a vast disciplinary divide. Now, two years on, we believe the payoffs – personal, professional and scientific – were well worth the initial discomfort.

    Our collaboration, which culminated in a recent paper in the journal Science Advances, began with a single question: What happened to life on Earth when the planet’s magnetic field nearly collapsed roughly 41,000 years ago?

    Weirdness when Earth’s magnetic shield falters

    This near-collapse is known as the Laschamps Excursion, a brief but extreme geomagnetic event named for the volcanic fields in France where it was first identified. At the time of the Laschamps Excursion, near the end of the Pleistocene epoch, Earth’s magnetic poles didn’t reverse as they do every few hundred thousand years. Instead, they wandered, erratically and rapidly, over thousands of miles. At the same time, the strength of the magnetic field dropped to less than 10% of its modern day intensity.

    So, instead of behaving like a stable bar magnet – a dipole – as it usually does, the Earth’s magnetic field fractured into multiple weak poles across the planet. As a result, the protective force field scientists call the magnetosphere became distorted and leaky.

    The magnetosphere normally deflects much of the solar wind and harmful ultraviolet radiation that would otherwise reach Earth’s surface.

    So, during the Laschamps Excursion when the magnetosphere broke down, our models suggest a number of near-Earth effects. While there is still work to be done to precisely characterize these effects, we do know they included auroras – normally seen only in skies near the poles as the Northern Lights or Southern Lights – wandering toward the equator, and significantly higher-than-present-day doses of harmful solar radiation.

    The skies 41,000 years ago may have been both spectacular and threatening. When we realized this, we two geophysicists wanted to know whether this could have affected people living at the time.

    The archaeologist’s answer was absolutely.

    Human responses to ancient space weather

    For people on the ground at that time, auroras may have been the most immediate and striking effect, perhaps inspiring awe, fear, ritual behavior or something else entirely. But the archaeological record is notoriously limited in its ability to capture these kinds of cognitive or emotional responses.

    Researchers are on firmer ground when it comes to the physiological impacts of increased UV radiation. With the weakened magnetic field, more harmful radiation would have reached Earth’s surface, elevating risk of sunburn, eye damage, birth defects, and other health issues.

    In response, people may have adopted practical measures: spending more time in caves, producing tailored clothing for better coverage, or applying mineral pigment “sunscreen” made of ochre to their skin. As we describe in our recent paper, the frequency of these behaviors indeed appears to have increased across parts of Europe, where effects of the Laschamps Excursion were pronounced and prolonged.

    Naturally occurring ochre can act as a protective sunscreen if applied to skin.
    Museo Egizio di Torino

    At this time, both Neanderthals and members of our species, Homo sapiens, were living in Europe, though their geographic distributions likely overlapped only in certain regions. The archaeological record suggests that different populations exhibited distinct approaches to environmental challenges, with some groups perhaps more reliant on shelter or material culture for protection.

    Importantly, we’re not suggesting that space weather alone caused an increase in these behaviors or, certainly, that the Laschamps caused Neanderthals to go extinct, which is one misinterpretation of our research. But it could have been a contributing factor – an invisible but powerful force that influenced innovation and adaptability.

    Cross-discipline collaboration

    Collaborating across such a disciplinary gap was, at first, daunting. But it turned out to be deeply rewarding.

    Archaeologists are used to reconstructing now-invisible phenomena like climate. We can’t measure past temperatures or precipitation directly, but they’ve left traces for us to interpret if we know where and how to look.

    An artistic rendering of how far into lower latitudes the aurora might have been visible during the Laschamps Excursion.
    Maximilian Schanner (GFZ Helmholtz Centre for Geosciences, Potsdam, Germany)

    But even archaeologists who’ve spent years studying the effects of climate on past behaviors and technologies may not have considered the effects of the geomagnetic field and space weather. These effects, too, are invisible, powerful and best understood through indirect evidence and modeling. Archaeologists can treat space weather as a vital component of Earth’s environmental history and future forecasting.

    Likewise, geophysicists, who typically work with large datasets, models and simulations, may not always engage with some of the stakes of space weather. Archaeology adds a human dimension to the science. It reminds us that the effects of space weather don’t stop at the ionosphere. They can ripple down into the lived experiences of people on the ground, influencing how they adapt, create and survive.

    The Laschamps Excursion wasn’t a fluke or a one-off. Similar disruptions of Earth’s magnetic field have happened before and will happen again. Understanding how ancient humans responded can provide insight into how future events might affect our world – and perhaps even help us prepare.

    Our unconventional collaboration has shown us how much we can learn, how our perspective changes, when we cross disciplinary boundaries. Space may be vast, but it connects us all. And sometimes, building a bridge between Earth and space starts with the smallest things, such as ochre, or a coat, or even sunscreen.

    Agnit Mukhopadhyay has received funding from NASA Science Mission Directorate and the University of Michigan Rackham Graduate School.

    Raven Garvey and Sanja Panovska do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Weird space weather seems to have influenced human behavior on Earth 41,000 years ago – our unusual scientific collaboration explores how – https://theconversation.com/weird-space-weather-seems-to-have-influenced-human-behavior-on-earth-41-000-years-ago-our-unusual-scientific-collaboration-explores-how-257216

    MIL OSI Analysis –

  • MIL-OSI: GraniteShares Launches Three New Leveraged Single-Stock ETFs: PDDL, NOWL, and AVGU

    Source: GlobeNewswire (MIL-OSI)

    New York, July 15, 2025 (GLOBE NEWSWIRE) — GraniteShares 2x Long PDD Daily ETF (PDDL), GraniteShares 2x Long NOW Daily ETF (NOWL) and GraniteShares 2x AVGO Long (AVGU) Launch Today.

    GraniteShares, a provider of exchange traded funds (ETFs), today announced the launch of three new leveraged single-stock ETFs:

    GraniteShares 2x Long PDD Daily ETF (NASDAQ: PDDL), 
    GraniteShares 2x Long NOW Daily ETF (NASDAQ: NOWL) and
    GraniteShares 2x Long AVGO Daily ETF (NASDAQ: AVGU).

    An investment in the ETFs provides investors daily leveraged exposure to the three respective underlying stocks: PDD Holdings (NASDAQ: PDD) ServiceNow (NASDAQ: NOW) and Broadcom Inc (NASDAQ: AVGO).

    GraniteShares’ leveraged ETFs seek daily investment results, before fees and expenses, that correspond to 2 times (200%) the daily percentage change of the respective common stocks. These funds are designed for sophisticated investors looking to capitalize on short-term movements in the underlying stocks.

    New GraniteShares Leveraged Single-Stock ETFs


    Underlying Companies

    • PDD Holdings Inc., established in 2015 and headquartered in Dublin, Ireland, is a global commerce company managing a portfolio of businesses aimed at integrating people and enterprises into the digital economy. It operates Pinduoduo, an e-commerce platform offering diverse products such as agricultural goods, apparel, electronics, and household items, alongside Temu, a global marketplace connecting buyers, merchants, and manufacturers across various categories. The company emphasizes enhancing local communities and small businesses through improved productivity and opportunities, supported by its robust network of sourcing, logistics, and fulfillment capabilities. Formerly known as Pinduoduo Inc., it rebranded to PDD Holdings Inc. in February 2023.
    • ServiceNow, Inc., based in Santa Clara, California, is a global leader in cloud-based Al solutions for business transformation. It’s Now Platform helps organizations digitize workflows using Al, automation, analytics, and low-code tools. The platform supports four key workflow areas: technology, customer and industry, employee, and creator-enhancing IT services, customer and employee experiences, and custom workflows. Its offerings span IT service management, security operations, HR delivery, and more. Serving industries worldwide, ServiceNow partners with providers and resellers to drive digital transformation. Founded in 2004, it remains at the forefront of Al-powered workflow automation.
    • Broadcom Inc., headquartered in Palo Alto, California and founded in 1961, is a global technology company specializing in the design, development, and supply of a wide range of semiconductor devices and enterprise software solutions. Operating through two primary segments—Semiconductor Solutions and Infrastructure Software—the company delivers complex digital and mixed-signal CMOS-based and analog III-V-based semiconductor products. Its offerings include RF front-end modules, Ethernet switching and routing chips, optical and copper interconnect components, Wi-Fi and Bluetooth SoCs, custom touch controllers, storage adapters, and a variety of industrial and optical solutions. These technologies support applications across data centers, telecommunications, mobile devices, broadband access, factory automation, and more. In software, Broadcom provides tools and platforms for cloud, mainframe, and hybrid environments, focusing on application development, security, automation, and infrastructure management.

    Designed for Tactical Traders

    The new leveraged ETFs provide traders with a tool to gain leveraged exposure to these stocks, making them a potential consideration for those looking to execute short-term tactical trades.

    “We continue to expand our suite of leveraged ETFs to meet the demand for high-conviction trading opportunities,” said Will Rhind, Founder of GraniteShares. “With the launch of PDDL, NOWL, and AVGU, we are providing investors with targeted tools to access some of the most exciting companies in AI, cloud computing, semiconductors and technology.”

    For more information on the new GraniteShares leveraged ETFs, read the Prospectus.

    About GraniteShares

    GraniteShares is an entrepreneurial ETF provider focused on high-conviction investment solutions. The firm offers a range of innovative ETFs spanning leveraged, inverse, and high-yield strategies, empowering investors with differentiated tools for portfolio construction. Founded in 2016, GraniteShares has grown rapidly by delivering cutting-edge solutions tailored to modern market needs. For more information, visit www.graniteshares.com.

    Media Contact:
    GraniteShares Inc.
    Attn: Media Relations
    222 Broadway, 21st Floor
    New York, NY 10038
    844-476-8747
    info@graniteshares.com

    RISK FACTORS AND IMPORTANT INFORMATION

    This material must be preceded or accompanied by a Prospectus. Carefully consider the Fund’s investment objectives risk factors, charges and expenses before investing. Please read the prospectus before investing. The fund does not directly invest in the underlying stock.

    The Fund is recently organized July 15, 2025. As a result, prospective investors do not have a track record or history on which to base their investment decisions. There can be no assurance that the Funds will grow to or maintain an economically viable size.

    The Fund is not suitable for all investors. The investment program of the funds is speculative, entails substantial risks and include asset classes and investment techniques not employed by most ETFs and mutual funds. Investments in the ETFs are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2X) investment results, understand the risks associated with the use of leverage and are willing to monitor their portfolios frequently. For periods longer than a single day, the Fund will lose money if the Underlying Stock’s performance is flat, and it is possible that the Fund will lose money even if the Underlying Stock’s performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day.

    The Fund seeks daily leveraged investment results and are intended to be used as short-term trading vehicles. This Fund attempts to provide daily investment results that correspond to the respective long leveraged multiple of the performance of its underlying stock (a Leverage Long Fund).

    Investors should note that such Leverage Long Fund pursues daily leveraged investment objectives, which means that the Fund is riskier than alternatives that do not use leverage because the Fund magnifies the performance of its underlying stock. The volatility of the underlying security may affect a Funds’ return as much as, or more than, the return of the underlying security.

    Because of daily rebalancing and the compounding of each day’s return over time, the return of the Fund for periods longer than a single day will be the result of each day’s returns compounded over the period, which will very likely differ from 200% of the return of the Underlying Stock over the same period. The Fund will lose money if the Underlying Stock’s performance is flat over time, and as a result of daily rebalancing, the Underlying Stock volatility and the effects of compounding, it is even possible that the Fund will lose money over time while the Underlying Stock’s performance increases over a period longer than a single day.

    Shares are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. There can be no guarantee that an active trading market for ETF shares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detract significantly from investment returns.

    An investment in the Fund involves risk, including the possible loss of principal. The Fund is non-diversified and includes risks associated with the Fund concentrating its investments in a particular industry, sector, or geographic region which can result in increased volatility. The use of derivatives such as futures contracts and swaps are subject to market risks that may cause their price to fluctuate over time. Risks of the Fund include Effects of Compounding and Market Volatility Risk, Leverage Risk, Market Risk, Counterparty Risk, Rebalancing Risk, Intra-Day Investment Risk, Other Investment Companies (including ETFs) Risk, and risks specific to the securities of the Underlying Stock and the sector in which it operates. These and other risks can be found in the prospectus.

    This information is not an offer to sell or a solicitation of an offer to buy shares of any Funds to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Please consult your tax advisor about the tax consequences of an investment in Fund shares, including the possible application of foreign, state, and local tax laws. You could lose money by investing in the ETFs. There can be no assurance that the investment objective of the Funds will be achieved. None of the Funds should be relied upon as a complete investment program.

    The Fund is distributed by ALPS Distributors, Inc, which is not affiliated with GraniteShares or any of its affiliates ©2024 GraniteShares Inc. All rights reserved. GraniteShares, GraniteShares Trusts, and the GraniteShares logo are registered and unregistered trademarks of GraniteShares Inc., in the United States and elsewhere. All other marks are the property of their respective owners.

    The MIL Network –

  • MIL-OSI: American Rebel Holdings, Inc. (NASDAQ:AREB) Announces Record-Breaking Launch of American Rebel Light Beer in Mississippi with Clark Beverage Group

    Source: GlobeNewswire (MIL-OSI)

    Rebel Light Beer Ignites Mississippi with Largest-Ever Opening Order, Fueling Continued National Expansion of America’s Patriotic Beer

    NASHVILLE, TN, July 15, 2025 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB), the proud creator of American Rebel Light Beer—America’s bold, patriotic, and unapologetic brew—announces a historic milestone with its largest-ever opening order as it storms into Mississippi. Partnering with Clark Beverage Group, Inc., this record-setting launch accelerates the national rollout of American Rebel Light Beer (americanrebelbeer.com), bringing the nation’s fastest-growing beer to the heart of the Magnolia State. This blockbuster debut is a game-changer, a rallying cry for customers, and a celebration for Mississippians ready to Rebel Up with a cold, crisp, all-American beer.

    A Record-Setting Launch with Clark Beverage Group

    Clark Beverage Group, a trusted leader in beverage distribution, has placed the largest first order in American Rebel’s history, signaling unshakable confidence in the brand’s explosive growth and market appeal. This record-breaking initial order, featuring both 16 oz Tall Boys and classic 12 oz cans, is now hitting Mississippi’s shelves, bars, and tailgates statewide. From Oxford to the Gulf Coast, American Rebel Light is ready to become the go-to beer for freedom-loving Rebels across the state.

    Why Mississippi? It’s Rebel Country!

    Mississippi embodies the heart and soul of American Rebel Light Beer—faith, grit, patriotism, and pride. Home to the Ole Miss Rebels and a state that lives the values of God-Fearing, Constitution-Loving, National Anthem-Singing, and Stand Your Ground, Mississippi is the perfect stage for this iconic launch. Every can of American Rebel Light is a toast to liberty, a salute to tradition, and a bold statement of identity—crafted for those who live life unapologetically.

    “Mississippi doesn’t just align with our brand — it lives it,” said Andy Ross, CEO and Founder of American Rebel Holdings. “This is a state built on faith, grit, patriotism, and pride. There’s no place in America where the words ‘God-Fearing,’ ‘Constitution-Loving,’ ‘National Anthem-Singing,’ and ‘Stand Your Ground’ ring louder or truer. When you crack open a cold American Rebel Light, you’re holding more than a beer — you’re holding a statement of identity. It’s a flag in a can. And we’re honored to stand with the Rebels of Mississippi and raise a toast to everything that makes this country great.”

    A Partnership Built on Shared Vision

    The journey began in February 2025 when Andy Ross and the American Rebel Beverage team connected with Jeff Brasher, Vice President – Alcohol MS, Clark Beverage Group. The instant alignment of values led to a swift distribution agreement, finalized after Mississippi’s recent regulatory approval of the American Rebel Light label. This partnership is a testament to Clark Beverage Group’s belief in the brand’s potential to dominate the market.

    “We’re not just distributing a beer; we’re championing a movement,” said Todd Porter, President of American Rebel Beverage. “Clark Beverage Group gets it—they see the passion, the quality, and the patriotism behind American Rebel Light. Together, we’re bringing Mississippi a beer that’s as bold as they are — America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, Stand Your Ground Beer.”

    “Clark Beverage Group is honored to bring American Rebel Light Beer to Mississippi,” said Jeff Brasher. “This is a beer that resonates with our communities, and we’re excited to see it take off across the state!”

    America’s Fastest Growing Light Beer and America’s Next Great Beverage Brand!

    For investors, this record-breaking order is a powerful signal of American Rebel’s skyrocketing momentum. With successful launches in Tennessee, Connecticut, Kansas, Kentucky, Ohio, Iowa, Missouri, North Carolina, Florida, Indiana, Virginia, and now Mississippi since September 2024, American Rebel Light is proving its staying power in the competitive beverage market. 

    This Mississippi launch, backed by a tier one distributor, underscores the brand’s ability to scale rapidly and capture market share.

    America’s Fastest Growing Light Beer and America’s Next Great Beverage Brand!

    This record-breaking initial order is a powerful signal of American Rebel’s skyrocketing momentum. With successful launches in Tennessee, Connecticut, Kansas, Kentucky, Ohio, Iowa, Missouri, North Carolina, Florida, Indiana, Virginia, and now Mississippi since September 2024, American Rebel Light is proving its staying power in the competitive beverage market. This Mississippi launch, backed by a leading distribution partner, underscores the brand’s ability to scale rapidly and capture market share.

    Why Customers Will Love Rebel Light

    American Rebel Light isn’t just a beer — it’s a lifestyle. Brewed with all-natural ingredients, this Premium Domestic Light Lager delivers a crisp, clean, bold taste with a lighter feel. At just 100 calories, 3.2 carbs, and 4.3% ABV per 12 oz serving, it’s crafted for tailgates, barbecues, and moments of celebration. Unlike mass-produced beers, Rebel Light skips corn, rice, and sweeteners, offering a pure, refreshing experience that’s as authentic as its drinkers.

    Mississippi, Get Ready to Rebel Up!

    From the rolling hills of Starkville to the vibrant streets of Jackson, Mississippians are invited to join the American Rebel movement. Whether you’re cheering on the Ole Miss Rebels, hosting a tailgate, or kicking back with friends, American Rebel Light is your beer. Look for it in local stores, bars, and restaurants, and join the rally cry of Rebel Up as you celebrate the values that make Mississippi and America great.

    About American Rebel Holdings, Inc. (NASDAQ: AREB)

    American Rebel Holdings is a diversified patriotic lifestyle company, delivering bold products that reflect American values. From its roots in branded safes and personal security to its breakout success with American Rebel Light Beer, the company is redefining the beverage and lifestyle markets. Learn more at americanrebel.com/investor-relations and watch The American Rebel Story as told by CEO Andy Ross.

    About American Rebel Light Beer

    American Rebel Light is a Premium Domestic Light Lager that’s all-natural, crisp, and bold—perfect for patriots who live boldly. Launched in September 2024, it’s now available in 12 states, with Mississippi as the latest proud addition. Follow @AmericanRebelBeer on social media for updates on launch events and availability.Media Inquiries

    Matt Sheldon
    Matt@Precisionpr.co
    917-280-7329

    Distribution Opportunities

    Todd Porter
    President, American Rebel Beverage
    tporter@americanrebelbeer.com

    Investor Relations
    ir@americanrebelbeer.com

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc. (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts,” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include benefits of our continued sponsorship of high profile events, success and availability of the promotional activities, our ability to effectively execute our business plan, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Report on Form 10-Q for the three months ended March 31, 2025. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Attachment

    The MIL Network –

  • MIL-OSI: Unlimited Rolls Out Two New Hedge Fund Replication ETFs

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 15, 2025 (GLOBE NEWSWIRE) — Unlimited and its CEO and CIO, Bob Elliott, today rolled out two new actively managed ETFs: the Unlimited HFMF Managed Futures ETF (HFMF) and the Unlimited HFEQ Equity Long/Short ETF (HFEQ), offering investors exposure to managed futures and equity long/short hedge fund strategies, respectively. These latest additions to the Unlimited lineup align with Unlimited’s mission to provide investors with access to transparent, liquid, and cost-effective hedge fund-style returns. These new strategies will allocate across a diversified basket of ETFs and exchange-listed futures contracts, adjusting dynamically based on evolving market conditions.

    Today’s launch expands Unlimited’s ETF roster to cover the primary hedge fund strategy sectors. “With the addition of our Managed Futures and Equity Long/Short strategies, Unlimited now offers complementary strategies to help achieve diversification in a wide range of investor portfolios,” said Mr. Elliott. “Deploying these strategies in the ETF wrapper, which offers intraday liquidity, affords the manager flexibility to adjust through volatile markets.”

    Each of Unlimited’s sector ETFs were designed to offer a volatility target aligned with equity markets as an investor-friendly way to add the diversification features of alternatives to a balanced portfolio:

    • Unlimited HFMF Managed Futures ETF – trend-following approach that seeks to generate alpha with low expected correlation to broad bond and equity markets.
    • Unlimited HFEQ Equity Long/Short ETF – equity-focused strategy that takes long and short positions across equity sectors, factors, and geographies, aiming to generate alpha relative to broad equity market exposure.
    • Unlimited HFGM Global Macro ETF – seeks to capitalize on global market mispricing opportunities spanning currency, fixed income, equity, credit and exchange rate markets.

    Over time, high fees and inefficient tax structures in hedge funds erode returns, and top tier private funds are often inaccessible to the majority of investors. Unlimited developed proprietary machine learning technology to analyze near real-time hedge fund investment returns and efficiently replicate the underlying exposures while maintaining an expense ratio significantly lower than the standard “2 & 20” hedge fund fee model.

    Unlimited’s ETFs are managed by Mr. Elliott, former investment committee member at Bridgewater Associates, and Bruce McNevin, co-founder and Chief Data Scientist at Unlimited. Mr. McNevin brings extensive experience in quantitative modeling and data science.

    For more information on Unlimited HFMF, HFEQ, HFGM and HFND please visit https://www.unlimitedetfs.com/.

    About Unlimited
    Founded in 2022 by Bob Elliott, Bruce McNevin and Matt Salzberg, Unlimited is an investment firm using proprietary technology to create strategies that offer lower-cost access to 2 & 20-style alternative investment strategies, such as hedge funds, to a wide range of investors. Mr. Elliott has built innovative hedge fund strategies for more than two decades, including at Bridgewater Associates, the world’s largest hedge fund. Mr. McNevin is a Professor of Economics at New York University and has held various data science positions at hedge funds Clinton Group and Midway Group, along with positions at Bank of America and BlackRock. Mr. Salzberg is a Co-Founder and Chairman of various companies, including Unlimited. Learn more at unlimitedfunds.com.

    Media Contacts:

    Sarah Lazarus Zach Kouwe
    Dukas Linden Public Relations Dukas Linden Public Relations
    +1 617-335-7823 +1 551-655-4032
    sarah@dlpr.com zkouwe@dlpr.com
       

    Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus. A prospectus may be obtained by visiting www.unlimitedetfs.com. Please read the prospectus carefully before you invest.

    Important Risks
    Underlying ETFs Risks. The Fund will incur higher and duplicative expenses because it invests in Underlying ETFs. There is also the risk that the Fund may suffer losses due to the investment practices of the Underlying ETFs. The Fund will be subject to substantially the same risks as those associated with the direct ownership of securities held by the Underlying ETFs.

    Management Risk. The Fund is actively managed and may not meet its investment objective based on the Sub-Adviser’s success or failure to implement investment strategies for the Fund.

    Machine Learning, Model and Data Risk. The Fund relies heavily on proprietary “machine learning” selection processes. In addition, the composition of the Fund’s portfolio is heavily dependent on proprietary quantitative models as well as information and data supplied by third parties (“Models and Data”).

    Volatility Risk. The Fund seeks to achieve a higher level of volatility than its target hedge fund industry sector, which may result in substantial price fluctuations over short periods. As a result, the value of the Fund’s investments may rise or fall significantly, and investors should be prepared for increased levels of volatility compared to traditional
    equity funds.

    Commodity Risk. Underlying ETFs that invest in the commodities markets may subject to greater volatility than investments in traditional securities.

    Derivatives Risk. The Fund’s or an Underlying ETF’s derivative investments have risks, including the imperfect correlation between the value of such instruments and the underlying assets or index; the loss of principal, including the potential loss of amounts greater than the initial amount invested in the derivative instrument; the possible default of the other party to the transaction; and illiquidity of the derivative investments.

    Emerging Markets Risk. The Fund may invest in Underlying ETFs that invest in securities issued by companies domiciled or headquartered in emerging market nations. Investments in securities traded in developing or emerging markets, or that provide exposure to such securities or markets, can involve additional risks relating to political, economic, currency, or regulatory conditions not associated with investments in U.S. securities and investments in more developed international markets.

    Fixed Income Securities Risk. The Fund may invest in Underlying ETFs that invest in fixed income securities. The prices of fixed income securities may be affected by changes in interest rates, the creditworthiness and financial strength of the issuer and other factors. An increase in prevailing interest rates typically causes the value of existing fixed income securities to fall and often has a greater impact on longer-duration and/or higher quality fixed income securities.

    Foreign Securities Risk. Foreign securities held by Underlying ETFs in which the Fund invests involve certain risks not involved in domestic investments and may experience more rapid and extreme changes in value than investments in securities of U.S. companies.

    Futures Contracts Risk. The Fund or Underlying ETFs may invest in futures contracts.
    Risks of futures contracts include: (i) an imperfect correlation between the value of the futures contract and the underlying asset; (ii) possible lack of a liquid secondary market; (iii) the inability to close a futures contract when desired; (iv) losses caused by unanticipated market movements, which may be unlimited; (v) an obligation for the Fund or an Underlying ETF, as applicable, to make daily cash payments to maintain its required margin, particularly at times when the Fund or Underlying ETF may have insufficient cash; and (vi) unfavorable execution prices from rapid selling.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Short Selling Risk. The Fund may make short sales of securities of Underlying ETFs, which involves selling a security it does not own in anticipation that the price of the security will decline. Short sales may involve substantial risk and leverage. Short sales expose the Fund to the risk that it will be required to buy (“cover”) the security sold short when the security has appreciated in value or is unavailable, thus resulting in a loss to the Fund. Short sales also involve the risk that losses may exceed the amount invested and may be unlimited.

    Swap Agreement Risk. The Fund or an Underlying ETF may invest in swap agreements. Swap agreements could result in losses if the underlying asset or reference does not perform as anticipated. Swaps can have the potential for unlimited losses. They are also subject to counterparty risk. If the counterparty fails to meet its obligations, the Fund (or the Underlying Fund) may lose money.

    Definitions:
    2 & 20 strategy: Describes the standard fee structure charged by advisers of private funds, which generally includes a 2% asset-based management fee, in addition to a 20% performance fee charged on the profits on investments.

    Distributed by Foreside Fund Services, LLC.

    The MIL Network –

  • MIL-OSI: Blood Vitals Glucose Monitor Official Launch – Track Your Health with Confidence

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, July 15, 2025 (GLOBE NEWSWIRE) — Managing blood sugar levels is more critical today than ever before. Whether you’re living with diabetes, prediabetes, or simply want to maintain a healthier lifestyle, tracking your glucose levels regularly is essential for making informed decisions. That’s why we’re proud to introduce the Blood Vitals Glucose Monitor — an innovative, user-friendly device designed to give you accurate, real-time insights into your body’s blood sugar status. Click Here to Visit Official Website

    Official Launch Announcement

    We are excited to announce the official launch of the Blood Vitals Glucose Monitor — now available to the public for the first time!

    After months of research, development, and rigorous testing, we are bringing this cutting-edge glucose monitoring system to market to help individuals and families take charge of their health like never before.

    The Blood Vitals Glucose Monitor is now officially available for purchase through our authorized platforms and partner stores. This launch marks a significant milestone in accessible, affordable, and reliable health tech for glucose tracking.

    What Is the Blood Vitals Glucose Monitor?

    The Blood Vitals Glucose Monitor is a compact, digital glucose monitoring system designed for individuals who want a fast, easy, and reliable way to measure their blood sugar levels. Built with cutting-edge biosensor technology and a modern design, this monitor is ideal for both at-home users and healthcare professionals.

    It provides accurate readings in seconds, stores your glucose history, and integrates seamlessly with modern health apps for a complete overview of your metabolic health.

    Key Features of Blood Vitals Glucose Monitor

    Let’s take a closer look at what makes this device stand out:

    1. Advanced Sensor Technology

    The monitor uses next-generation biosensors that detect glucose levels with high precision. The sensors are designed for minimal discomfort and maximum accuracy.

    2. Fast and Accurate Readings

    Get your results in as little as 5 seconds. The Blood Vitals Glucose Monitor ensures that every test is quick, convenient, and delivers highly accurate results.

    3. Compact and Portable

    Slim, lightweight, and travel-friendly, this monitor fits easily into a pocket or bag. Ideal for people with busy lifestyles who need to check their blood sugar on the go.

    4. No Coding Required

    Unlike older models, the Blood Vitals system doesn’t require manual coding. Just insert a strip, and it’s ready to go — eliminating the risk of incorrect calibration.

    5. Large, Easy-to-Read Display

    The digital screen features bold numbers and backlighting, making it easy to read your results in any lighting condition.

    6. Memory Storage

    The monitor can store up to 500 test results, allowing users to track and compare their readings over time without needing to write anything down.

    7. Smart App Integration

    Sync your device with the Blood Vitals App to view trends, set reminders, and share your data with your doctor or caregiver.

    Click Here to Get Brain Defender – Power Up Your Mind Today!

    Why Monitoring Blood Sugar Is Important

    Blood sugar monitoring is a critical tool for anyone looking to manage their health. Here’s why:

    • Early Detection: Monitoring allows you to detect sudden spikes or drops in glucose, which can be dangerous if left unaddressed.
    • Treatment Adjustment: Helps your doctor evaluate whether your medication or dietary plans are working effectively.
    • Lifestyle Awareness: Encourages better eating, exercise, and sleep patterns by showing real-time feedback on how your body reacts.
    • Long-Term Health: Proper glucose control reduces the risk of complications like heart disease, nerve damage, kidney issues, and vision problems.

    Who Should Use the Blood Vitals Glucose Monitor?

    This product is ideal for:

    • People with Type 1 or Type 2 diabetes
    • Those with prediabetes
    • Individuals following a low-carb, ketogenic, or fasting lifestyle
    • Health-conscious individuals who want better metabolic awareness
    • Caregivers and healthcare providers managing others’ glucose levels

    How to Use the Blood Vitals Glucose Monitor

    Using the device is simple and intuitive. Here’s a step-by-step breakdown:

    1. Insert a Test Strip: Use only Blood Vitals-approved strips for accuracy.
    2. Apply Blood Sample: A small finger-prick sample is sufficient.
    3. Get Results in Seconds: Wait approximately 5 seconds for your reading.
    4. Log Automatically: Your results are stored in the device and can sync with the app.
    5. Review Trends: Check your app dashboard to analyze patterns, averages, and fluctuations over days, weeks, or months.

    Benefits of Using Blood Vitals

    Here’s what makes this monitor a reliable choice:

    Feature Benefit
    One-Touch Operation Makes testing simple and efficient
    Painless Sampling Uses ultra-thin lancets for minimal discomfort
    Cloud Backup Never lose your data – even if you switch phones
    Multi-User Support Ideal for families or caregivers
    Reminders & Alerts Stay consistent with routine checks

    Blood Vitals App: Smarter Health Management

    The Blood Vitals Monitor pairs seamlessly with its companion mobile app, available for both iOS and Android. The app includes:

    • Daily, weekly, and monthly trend charts
    • Custom alerts for high or low glucose
    • Integration with Apple Health and Google Fit
    • Data sharing options for doctors, dieticians, and family

    Whether you’re tracking before/after meals, managing fasting periods, or keeping an eye on your glucose throughout the day, the app turns raw data into actionable insights.

    Why Choose Blood Vitals Over Others?

    • FDA-Registered Components: Built with medically compliant technology.
    • Trusted Accuracy: Lab-tested and field validated.
    • Affordable Test Strips: Cost-effective compared to other premium brands.
    • Responsive Support: Backed by a knowledgeable customer service team.

    Unlike older glucose monitors that are bulky, slow, or hard to use, the Blood Vitals Glucose Monitor is engineered for modern users who demand speed, precision, and ease-of-use — without compromising health insights.

    Final Thoughts

    The launch of the Blood Vitals Glucose Monitor marks a new era in health monitoring. Officially released and now available for purchase, this state-of-the-art device is designed to empower people to take control of their health in the most efficient and intelligent way possible.

    Stay in control. Stay informed. Choose Blood Vitals Glucose Monitor — because your health deserves precision.

    Contact Information:

    For media inquiries or further information, please contact:
    Jemes
    Marketing Team
    Blood Vitals Glucose Monitor
    Email: contact@bloodvitals.com
    Phone: 1-800-123-4552
    Website: https://get-bloodvitals.com/

    Attachment

    The MIL Network –

  • MIL-OSI United Kingdom: Birmingham fraudster spent part of Covid loan funds at safari park, restaurants and paying off personal credit card debt

    Source: United Kingdom – Executive Government & Departments

    Press release

    Birmingham fraudster spent part of Covid loan funds at safari park, restaurants and paying off personal credit card debt

    Money from the loans was only supposed to be used for the economic benefit of the business

    • Fitness company owner Junaid Dar dishonestly obtained £45,500 in Covid Bounce Back Loans during 2020 

    • Dar used some of the funds for legitimate purposes, but he also used money for personal spending at retailers, restaurants and leisure attractions 

    • The 34-year-old was handed a suspended sentence following investigations by the Insolvency Service 

    A Birmingham fraudster who secured three Covid loans for his company when businesses were only entitled to one used some of the funds for personal spending at restaurants and a safari park. 

    Junaid Dar, 34, made fraudulent applications to three separate banks for Bounce Back Loans worth a combined total of £45,500 during 2020 for his JDARPT Ltd fitness company. 

    Dar, of Stratford Road, Birmingham, was sentenced to 20 months in prison, suspended for 18 months, at Wolverhampton Crown Court on Thursday 10 July. 

    He was also ordered to complete 20 days of rehabilitation activity, 180 hours of unpaid work, and pay costs of £2,400. 

    David Snasdell, Chief Investigator at the Insolvency Service, said: 

    Junaid Dar deliberately made false representations to fraudulently receive three Bounce Back Loans when businesses were only entitled to one.  

    Instead of using this money to support his fitness business through the pandemic as intended, he diverted significant sums for personal spending.  

    Bounce Back Loans were designed to provide quick and simple financial support to businesses genuinely affected by Covid. The Insolvency Service will not tolerate abuse of the public purse and will continue to pursue fraudsters who exploited schemes designed to help legitimate businesses during a national crisis.

    JDAPRT was incorporated in March 2017 with Dar as its sole director. The company’s trading activities were recorded as fitness facilities on Companies House. 

    Dar’s first fraudulent application was for a £13,000 Bounce Back Loan in May 2020.  

    In the application, Dar claimed JDAPRT’s turnover was £55,000. 

    Just two days later, Dar made a second application to a different bank for a Bounce Back Loan of £15,000.  

    In this application, Dar said his company’s turnover was now £60,000. 

    Dar’s third and final fraudulent application in September 2020 was for a Bounce Back Loan of £17,500.  

    This time, Dar falsely claimed his company’s turnover was £70,000. Insolvency Service analysis of the bank account revealed the company’s turnover was closer to £61,000. 

    Dar used some of the Bounce Back Loan funds for legitimate purposes. However, several transactions were recorded which Insolvency Service investigators found to be for personal use. 

    Payments were made to Amazon and Argos, along with spending at restaurants and meat stores. Further spending was identified at West Midlands Safari Park and making credit card payments. 

    JDARPT went into liquidation in July 2021. 

    Dar was also disqualified as a company director for 11 years from April 2022 for his misconduct at JDARPT. 

    Further information  

    About us 

    The Insolvency Service is a government agency that helps to deliver economic confidence by supporting those in financial distress, tackling financial wrongdoing and maximising returns to creditors. 

    The Insolvency Service is an executive agency, sponsored by the Department for Business and Trade. 

    Read more about what we do 

    Press Office 

    Journalists with enquiries can call the Insolvency Service Press Office on 0303 003 1743 or email press.office@insolvency.gov.uk (Monday to Friday, 9am to 5pm). 

    Out of hours 

    For any out of hours media enquiries, please contact the Department for Business and Trade (DBT) newsdesk on 020 7215 2000.

    Updates to this page

    Published 15 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI: YieldMax® Introduces Option Income Strategy ETF on DraftKings, Inc. (DKNG)

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO and MILWAUKEE and NEW YORK, July 15, 2025 (GLOBE NEWSWIRE) — YieldMax® announced the launch today of the following ETF:

    YieldMax® DKNG Option Income Strategy ETF (NYSE Arca: DRAY)

    DRAY seeks to generate current income by pursuing options-based strategies on DraftKings, Inc. (“DKNG”). DRAY is managed by Tidal Financial Group. DRAY does not invest directly in DKNG.

    DRAY is the newest member of the YieldMax® ETF family and like all YieldMax® ETFs, aims to deliver current income to investors. With respect to distributions, DRAY will be a Group C ETF, and its first distribution is expected to be announced on August 20, 2025.

    Please see the table below for distribution information for all outstanding YieldMax® ETFs.

    ETF Ticker1 ETF Name Distribution
    Frequency    		 Distribution
    Rate    2,4    		 30-Day
    SEC Yield3    		 ROC5
    CHPY YieldMax® Semiconductor Portfolio Option Income ETF Weekly 33.04% 0.04% 100.0%
    GPTY YieldMax® AI & Tech Portfolio Option Income ETF Weekly 32.65% 0.00% 100.0%
    LFGY YieldMax® Crypto Industry & Tech Portfolio Option Income ETF Weekly 62.17% 0.00% 100.0%
    QDTY YieldMax® Nasdaq 100 0DTE Covered Call Strategy ETF Weekly 22.37% 0.00% 100.0%
    RDTY YieldMax® R2000 0DTE Covered Call Strategy ETF Weekly 33.92% 1.65% 100.0%
    SDTY YieldMax® S&P 500 0DTE Covered Call Strategy ETF Weekly 16.11% 0.07% 100.0%
    ULTY YieldMax® Ultra Option Income Strategy ETF Weekly 79.49% 0.00% 100.0%
    YMAG YieldMax® Magnificent 7 Fund of Option Income ETFs Weekly 42.80% 63.17% 90.5%
    YMAX YieldMax® Universe Fund of Option Income ETFs Weekly 50.44% 82.40% 95.4%
    BIGY YieldMax® Target 12® Big 50 Option Income ETF Monthly 11.35% 0.07% 99.28%
    RNTY YieldMax® Target 12® Real Estate Option Income ETF Monthly 12.07% 0.05% 53.01%
    SOXY YieldMax® Target 12® Semiconductor Option Income ETF Monthly 12.67% 2.16% 93.72%
    ABNY YieldMax® ABNB Option Income Strategy ETF Every 4 weeks 35.21% 2.85% 92.90%
    AIYY YieldMax® AI Option Income Strategy ETF Every 4 weeks 46.98% 3.46% 93.73%
    AMDY YieldMax® AMD Option Income Strategy ETF Every 4 weeks 72.42% 2.82% 96.14%
    AMZY YieldMax® AMZN Option Income Strategy ETF Every 4 weeks 47.42% 2.86% 94.61%
    APLY YieldMax® AAPL Option Income Strategy ETF Every 4 weeks 27.20% 3.38% 87.98%
    BABO YieldMax® BABA Option Income Strategy ETF Every 4 weeks 38.87% 3.22% 91.85%
    BRKC YieldMax® BRK.B Option Income Strategy ETF Every 4 weeks – – 35.53%
    CONY YieldMax® COIN Option Income Strategy ETF Every 4 weeks 69.74% 2.93% 96.71%
    CRSH YieldMax® Short TSLA Option Income Strategy ETF Every 4 weeks 62.69% 3.08% 91.57%
    CVNY YieldMax® CVNA Option Income Strategy ETF Every 4 weeks 50.69% 2.71% 96.68%
    DIPS YieldMax® Short NVDA Option Income Strategy ETF Every 4 weeks 52.24% 3.59% 93.01%
    DISO YieldMax® DIS Option Income Strategy ETF Every 4 weeks 38.51% 2.97% 93.52%
    FBY YieldMax® META Option Income Strategy ETF Every 4 weeks 41.34% 2.87% 93.05%
    FEAT YieldMax® Dorsey Wright Featured 5 Income ETF Every 4 weeks 51.31% 52.99% 0.00%
    FIAT YieldMax® Short COIN Option Income Strategy ETF Every 4 weeks 65.40% 4.73% 92.85%
    FIVY YieldMax® Dorsey Wright Hybrid 5 Income ETF Every 4 weeks 33.17% 35.26% 0.00%
    GDXY YieldMax® Gold Miners Option Income Strategy ETF Every 4 weeks 73.19% 3.22% 95.87%
    GOOY YieldMax® GOOGL Option Income Strategy ETF Every 4 weeks 33.00% 3.29% 0.00%
    HOOY YieldMax® HOOD Option Income Strategy ETF Every 4 weeks 116.73% 1.43% 99.92%
    JPMO YieldMax® JPM Option Income Strategy ETF Every 4 weeks 21.19% 2.70% 87.32%
    MARO YieldMax® MARA Option Income Strategy ETF Every 4 weeks 62.54% 3.09% 96.21%
    MRNY YieldMax® MRNA Option Income Strategy ETF Every 4 weeks 92.24% 3.07% 97.17%
    MSFO YieldMax® MSFT Option Income Strategy ETF Every 4 weeks 35.03% 2.97% 92.03%
    MSTY YieldMax® MSTR Option Income Strategy ETF Every 4 weeks 71.21% 1.80% 96.86%
    NFLY YieldMax® NFLX Option Income Strategy ETF Every 4 weeks 30.60% 2.80% 90.80%
    NVDY YieldMax® NVDA Option Income Strategy ETF Every 4 weeks 50.52% 2.78% 95.30%
    OARK YieldMax® Innovation Option Income Strategy ETF Every 4 weeks 50.31% 2.88% 95.16%
    PLTY YieldMax® PLTR Option Income Strategy ETF Every 4 weeks 61.93% 2.99% 96.50%
    PYPY YieldMax® PYPL Option Income Strategy ETF Every 4 weeks 34.10% 3.48% 92.95%
    SMCY YieldMax® SMCI Option Income Strategy ETF Every 4 weeks 103.53% 3.09% 97.25%
    SNOY YieldMax® SNOW Option Income Strategy ETF Every 4 weeks 37.92% 2.27% 62.42%
    TSLY YieldMax® TSLA Option Income Strategy ETF Every 4 weeks 64.59% 2.76% 82.33%
    TSMY YieldMax® TSM Option Income Strategy ETF Every 4 weeks 52.10% 2.87% 95.76%
    WNTR YieldMax® Short MSTR Option Income Strategy ETF Every 4 weeks 79.34% 3.19% 96.58%
    XOMO YieldMax® XOM Option Income Strategy ETF Every 4 weeks 37.52% 3.62% 92.57%
    XYZY YieldMax® XYZ Option Income Strategy ETF Every 4 weeks 58.52% 2.57% 97.95%
    YBIT YieldMax® Bitcoin Option Income Strategy ETF Every 4 weeks 45.25% 1.54% 87.99%
    YQQQ YieldMax® Short N100 Option Income Strategy ETF Every 4 weeks 21.80% 3.41% 84.56%


    Standardized Performance & Fund details can be obtained by clicking the ETF Ticker in the table above or by visiting us at     www.yieldmaxetfs.com

    Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling (866) 864-3968.

    Note: DIPS, FIAT, CRSH, YQQQ and WNTR are hereinafter referred to as the “Short ETFs.”

    Distributions are not guaranteed. The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

    Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

    1. All YieldMax®ETFs shown in the table above (except YMAX, YMAG, FEAT, FIVY and ULTY) have a gross expense ratio of 0.99%. YMAX and FEAT have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. YMAG has a management fee of 0.29% and Acquired Fund Fees and Expenses of 0.83% for a gross expense ratio of 1.12%. FIVY has a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.59% for a gross expense ratio of 0.88%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax®ETFs. ULTY has a gross expense ratio of 1.40%, and a net expense ratio after the fee waiver of 1.30%. The Advisor has agreed to a fee waiver of 0.10% through at least February 28, 2026. 
    2. The Distribution Rate shown is as of close on July 14, 2025. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.
    3. The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended June 30, 2025, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.
    4. Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.
    5. ROC refers to Return of Capital. The ROC percentage indicates how much the distribution reflects an investor’s initial investment. The figures shown for each Fund in the table above are estimates and may later be determined to be taxable net investment income, short-term gains, long-term gains (to the extent permitted by law), or return of capital. Actual amounts and sources for tax reporting will depend upon the Fund’s investment activities during the remainder of the fiscal year and may be subject to changes based on tax regulations. Your broker will send you a Form 1099-DIV for the calendar year to tell you how to report these distributions for federal income tax purposes.

    Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.

    Important Information

    This material must be preceded or accompanied by the prospectus. For all prospectuses, click here.

    Tidal Financial Group is the adviser for all YieldMax® ETFs.

    THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

    Risk Disclosures

    YMAX, YMAG, FEAT and FIVY generally invest in other YieldMax® ETFs. As such, these funds are subject to the risks listed in this section, which apply to all the YieldMax® ETFs they may hold from time to time.

    Investing involves risk. Principal loss is possible.

    Referenced Index Risk. The Fund invests in options contracts that are based on the value of the Index (or the Index ETFs). This subjects the Fund to certain of the same risks as if it owned shares of companies that comprised the Index or an ETF that tracks the Index, even though it does not.

    Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way. Investors in the Fund will not have the right to receive dividends or other distributions or any other rights with respect to the companies that comprise the Index but will be subject to declines in the performance of the Index.

    Russell 2000 Index Risks. The Index, which consists of small-cap U.S. companies, is particularly susceptible to economic changes, as these firms often have less financial resilience than larger companies. Market volatility can disproportionately affect these smaller businesses, leading to significant price swings. Additionally, these companies are often more exposed to specific industry risks and have less diverse revenue streams. They can also be more vulnerable to changes in domestic regulatory or policy environments.

    Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other Index (or ETFs that track the Index’s performance)holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary Index (or ETFs that track the Index’s performance) securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next. Additionally, monthly distributions, if any, may consist of returns of capital, which would decrease the Fund’s NAV and trading price over time.

    High Index (or Index ETF) Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high Index (or Index ETF) turnover rate increases transaction costs, which may increase the Fund’s expenses.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTR, MARA, CVNA, HOOD, BRK.B, DKNG), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Risk Disclosures (applicable only to GPTY)

    Artificial Intelligence Risk. Issuers engaged in artificial intelligence typically have high research and capital expenditures and, as a result, their profitability can vary widely, if they are profitable at all. The space in which they are engaged is highly competitive and issuers’ products and services may become obsolete very quickly. These companies are heavily dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. The issuers are also subject to legal, regulatory and political changes that may have a large impact on their profitability. A failure in an issuer’s product or even questions about the safety of the product could be devastating to the issuer, especially if it is the marquee product of the issuer. It can be difficult to accurately capture what qualifies as an artificial intelligence company.

    Technology Sector Risk. The Fund will invest substantially in companies in the information technology sector, and therefore the performance of the Fund could be negatively impacted by events affecting this sector. Market or economic factors impacting technology companies and companies that rely heavily on technological advances could have a significant effect on the value of the Fund’s investments. The value of stocks of information technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition, both domestically and internationally, including competition from foreign competitors with lower production costs. Stocks of information technology companies and companies that rely heavily on technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Information technology companies are heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely affect profitability.

    Risk Disclosure (applicable only to MARO)

    Digital Assets Risk: The Fund does not invest directly in Bitcoin or any other digital assets. The Fund does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. The Fund does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than the Fund. Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility.

    Risk Disclosures (applicable only to BABO and TSMY)

    Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

    Depositary Receipts Risk: The securities underlying BABO and TSMY are American Depositary Receipts (“ADRs”). Investment in ADRs may be less liquid than the underlying shares in their primary trading market.

    Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.

    Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting and investor protection standards than U.S. issuers.

    Risk Disclosures (applicable only to GDXY)

    Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.

    Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.

    The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.

    Risk Disclosures (applicable only to YBIT)

    YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.

    Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.

    Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility. Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.

    Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.

    Risk Disclosures (applicable only to the Short ETFs)

    Investing involves risk. Principal loss is possible.

    Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.

    Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing (selling) strategy will impact the extent that the Fund participates in decreases in the value of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold put options and over longer periods.

    Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying reference asset, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will participate in decreases in value experienced by the underlying reference asset over the Put Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA, MSTR), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Risk Disclosures (applicable only to CHPY)

    Semiconductor Industry Risk. Semiconductor companies may face intense competition, both domestically and internationally, and such competition may have an adverse effect on their profit margins. Semiconductor companies may have limited product lines, markets, financial resources or personnel. Semiconductor companies’ supply chain and operations are dependent on the availability of materials that meet exacting standards and the use of third parties to provide components and services.

    The products of semiconductor companies may face obsolescence due to rapid technological developments and frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Capital equipment expenditures could be substantial, and equipment generally suffers from rapid obsolescence. Companies in the semiconductor industry are heavily dependent on patent and intellectual property rights. The loss or impairment of these rights would adversely affect the profitability of these companies.

    Risk Disclosures (applicable only to YQQQ)

    Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.

    Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.

    Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.

    YieldMax® ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, or YieldMax® ETFs.

    © 2025 YieldMax® ETFs

    The MIL Network –

  • MIL-OSI United Kingdom: Change of His Majesty’s Ambassador to Armenia: Alexandra Cole

    Source: United Kingdom – Government Statements

    Press release

    Change of His Majesty’s Ambassador to Armenia: Alexandra Cole

    Ms Alexandra Cole has been appointed His Majesty’s Ambassador to the Republic of Armenia in succession to Mr John Gallagher.

    Ms Alexandra Cole has been appointed His Majesty’s Ambassador to the Republic of Armenia in succession to Mr John Gallagher who will be transferring to another Diplomatic Service appointment.  Ms Cole will take up her appointment during September 2025.

    Curriculum vitae

    Full name: Alexandra Pamela Cole

    Year Role
    2024 to present Pre-posting training
    2023 to 2024 FCDO, Head of Contingency Planning, MENA
    2020 to 2023 Doha, Deputy Head of Mission
    2018 to 2020 Tbilisi, Deputy Head of Mission
    2013 to 2018 UK Mission to the UN in Geneva, Counsellor Specialised Agencies
    2011 to 2013 FCO, Policy Unit
    2008 to 2010 Cairo, Consular Regional Director
    2006 to 2008 FCO, Engaging with Islamic World Group
    2004 to 2006 Islamabad, Second Secretary Human Rights
    2002 to 2004 Sarajevo, Second Secretary Political
    2001 to 2002 Pre-posting training (including Bosnian language training)
    1999 to 2001 FCO, Personnel Management Unit
    1996 to 1999 Tehran, Entry Clearance Officer
    1994 to 1995 FCO, Trade Union Side
    1996 to 1999 Tehran, Entry Clearance Officer
    1992 to 1994 FCO, Finance Department
    1990 to 1992 FCO, Migration and Visa Department
    1990 Joined FCO

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Email the FCDO Newsdesk (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 15 July 2025

    MIL OSI United Kingdom –

  • India’s trade deficit narrows to $18.78 billion in June

    Source: Government of India

    Source: Government of India (4)

    India’s trade deficit narrowed to $18.78 billion in June, down from $21.88 billion in May, according to data released by the Commerce and Industry Ministry on Tuesday.

    Merchandise exports remained nearly flat at $35.14 billion in June compared to $35.16 billion in the same month last year. Imports, however, declined by 3.71 per cent to $53.92 billion from $56 billion a year ago.

    In the services sector, India recorded an estimated surplus of $15.62 billion for June, with services exports at $32.84 billion and imports at $17.58 billion.

    Combined exports of merchandise and services stood at $67.98 billion in June, while combined imports were $71.50 billion, resulting in a net trade deficit of $3.51 billion for the month.

    Commerce Secretary Sunil Barthwal recently said that global conflicts and economic uncertainties are impacting Indian exports. The government, he added, is working closely with exporters to address issues related to shipping and insurance.

    The trade numbers come as India continues negotiations with the US and other partners to secure favourable market access. The US has been pushing for wider access for its agricultural and dairy products — a sensitive issue for India due to its impact on the livelihoods of small farmers.

    India is also seeking an exemption from former US President Donald Trump’s 26 per cent tariffs by aiming to conclude an interim trade deal. Simultaneously, India is pushing for tariff concessions on its labour-intensive exports, including textiles, leather and footwear.

    Trump has announced that his administration will begin notifying trading partners about tariff rates as early as Friday, even as last-stage talks continue with countries including India to avoid higher US duties.

    Meanwhile, India’s trade performance in Q3 FY25 (October–December 2024) reflected cautious resilience amid global geopolitical tensions, according to a quarterly report by NITI Aayog released on Monday. Merchandise exports in that quarter rose 3 per cent year-on-year to $108.7 billion.

    The report also highlighted a sharp rise in exports of aircraft, spacecraft and parts, which entered the top ten export categories with over 200 per cent annual growth driven by demand from Saudi Arabia, the UAE and the Czech Republic.

    India’s high-tech merchandise exports, led by electrical machinery and arms and ammunition, have maintained steady momentum since 2014, growing at a compound annual growth rate of 10.6 per cent.

    — IANS

  • India’s Q1 passenger vehicle sales cross one million for second consecutive year

    Source: Government of India

    Source: Government of India (4)

    India’s passenger vehicle sales crossed the one million mark for the second consecutive April–June quarter (Q1), with exports showing strong double-digit growth, according to data released by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday.

    Passenger vehicle exports — including utility vehicles and cars — reached a record high of 2.04 lakh units in Q1 of 2025–26, marking a 13.2% rise over the same period last year.

    SIAM attributed the growth to steady demand in key overseas markets, with the Middle East and Latin America performing well, alongside a revival in neighbouring countries like Sri Lanka and Nepal. Rising demand from Japan and higher exports under free trade agreements, including with Australia, also contributed to the uptick.

    Two-wheeler exports rose to 1.14 million units, recording a robust 23.2% growth compared to Q1 last year. This was supported by recovery in neighbouring markets and continued momentum in major destinations.

    Exports of three-wheelers climbed to 0.96 lakh units, an increase of 34.4% year-on-year, while commercial vehicle exports grew by 23.4% to around 0.2 lakh units.

    Despite the positive export figures, domestic passenger vehicle sales in Q1 stood at 1.01 million units — down 1.4% compared to the same quarter last year — due to slower sales in the latter part of the quarter.

    The two-wheeler segment sold 4.67 million units, posting a 6.2% decline year-on-year, largely due to inventory corrections. However, retail registrations for two-wheelers rose by 5%, boosted by the wedding season and stable demand. The scooter segment’s share within two-wheelers also increased by 2.15% year-on-year.

    The three-wheeler category recorded its highest ever Q1 sales at 1.65 lakh units, mainly driven by strong demand in the passenger carrier segment. SIAM noted that increased economic activity and urban mobility needs supported this growth, while the cargo segment’s retail registrations continued to rise on the back of demand for intracity low-load transport and easier financing.

    Meanwhile, the commercial vehicle segment saw a marginal decline of 0.6% year-on-year to 2.23 lakh units, though passenger carriers within the category maintained positive growth, reflecting steady demand for public transport.

    Looking ahead, SIAM said the industry remains cautiously optimistic for the second quarter. The upcoming festive season, an above-normal monsoon aiding rural incomes, and the Reserve Bank of India’s recent 100-basis-point repo rate cut over six months could help lift demand for passenger vehicles and two-wheelers.

    However, SIAM cautioned that supply-side challenges persist, particularly the recent export licensing requirements imposed by China on rare earth magnets, which are critical components for vehicle manufacturing.

    — IANS

  • India’s Q1 passenger vehicle sales cross one million for second consecutive year

    Source: Government of India

    Source: Government of India (4)

    India’s passenger vehicle sales crossed the one million mark for the second consecutive April–June quarter (Q1), with exports showing strong double-digit growth, according to data released by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday.

    Passenger vehicle exports — including utility vehicles and cars — reached a record high of 2.04 lakh units in Q1 of 2025–26, marking a 13.2% rise over the same period last year.

    SIAM attributed the growth to steady demand in key overseas markets, with the Middle East and Latin America performing well, alongside a revival in neighbouring countries like Sri Lanka and Nepal. Rising demand from Japan and higher exports under free trade agreements, including with Australia, also contributed to the uptick.

    Two-wheeler exports rose to 1.14 million units, recording a robust 23.2% growth compared to Q1 last year. This was supported by recovery in neighbouring markets and continued momentum in major destinations.

    Exports of three-wheelers climbed to 0.96 lakh units, an increase of 34.4% year-on-year, while commercial vehicle exports grew by 23.4% to around 0.2 lakh units.

    Despite the positive export figures, domestic passenger vehicle sales in Q1 stood at 1.01 million units — down 1.4% compared to the same quarter last year — due to slower sales in the latter part of the quarter.

    The two-wheeler segment sold 4.67 million units, posting a 6.2% decline year-on-year, largely due to inventory corrections. However, retail registrations for two-wheelers rose by 5%, boosted by the wedding season and stable demand. The scooter segment’s share within two-wheelers also increased by 2.15% year-on-year.

    The three-wheeler category recorded its highest ever Q1 sales at 1.65 lakh units, mainly driven by strong demand in the passenger carrier segment. SIAM noted that increased economic activity and urban mobility needs supported this growth, while the cargo segment’s retail registrations continued to rise on the back of demand for intracity low-load transport and easier financing.

    Meanwhile, the commercial vehicle segment saw a marginal decline of 0.6% year-on-year to 2.23 lakh units, though passenger carriers within the category maintained positive growth, reflecting steady demand for public transport.

    Looking ahead, SIAM said the industry remains cautiously optimistic for the second quarter. The upcoming festive season, an above-normal monsoon aiding rural incomes, and the Reserve Bank of India’s recent 100-basis-point repo rate cut over six months could help lift demand for passenger vehicles and two-wheelers.

    However, SIAM cautioned that supply-side challenges persist, particularly the recent export licensing requirements imposed by China on rare earth magnets, which are critical components for vehicle manufacturing.

    — IANS

  • India’s Q1 passenger vehicle sales cross one million for second consecutive year

    Source: Government of India

    Source: Government of India (4)

    India’s passenger vehicle sales crossed the one million mark for the second consecutive April–June quarter (Q1), with exports showing strong double-digit growth, according to data released by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday.

    Passenger vehicle exports — including utility vehicles and cars — reached a record high of 2.04 lakh units in Q1 of 2025–26, marking a 13.2% rise over the same period last year.

    SIAM attributed the growth to steady demand in key overseas markets, with the Middle East and Latin America performing well, alongside a revival in neighbouring countries like Sri Lanka and Nepal. Rising demand from Japan and higher exports under free trade agreements, including with Australia, also contributed to the uptick.

    Two-wheeler exports rose to 1.14 million units, recording a robust 23.2% growth compared to Q1 last year. This was supported by recovery in neighbouring markets and continued momentum in major destinations.

    Exports of three-wheelers climbed to 0.96 lakh units, an increase of 34.4% year-on-year, while commercial vehicle exports grew by 23.4% to around 0.2 lakh units.

    Despite the positive export figures, domestic passenger vehicle sales in Q1 stood at 1.01 million units — down 1.4% compared to the same quarter last year — due to slower sales in the latter part of the quarter.

    The two-wheeler segment sold 4.67 million units, posting a 6.2% decline year-on-year, largely due to inventory corrections. However, retail registrations for two-wheelers rose by 5%, boosted by the wedding season and stable demand. The scooter segment’s share within two-wheelers also increased by 2.15% year-on-year.

    The three-wheeler category recorded its highest ever Q1 sales at 1.65 lakh units, mainly driven by strong demand in the passenger carrier segment. SIAM noted that increased economic activity and urban mobility needs supported this growth, while the cargo segment’s retail registrations continued to rise on the back of demand for intracity low-load transport and easier financing.

    Meanwhile, the commercial vehicle segment saw a marginal decline of 0.6% year-on-year to 2.23 lakh units, though passenger carriers within the category maintained positive growth, reflecting steady demand for public transport.

    Looking ahead, SIAM said the industry remains cautiously optimistic for the second quarter. The upcoming festive season, an above-normal monsoon aiding rural incomes, and the Reserve Bank of India’s recent 100-basis-point repo rate cut over six months could help lift demand for passenger vehicles and two-wheelers.

    However, SIAM cautioned that supply-side challenges persist, particularly the recent export licensing requirements imposed by China on rare earth magnets, which are critical components for vehicle manufacturing.

    — IANS

  • MIL-OSI Russia: The First Russian Media Mogul. We Study Ivan Sytin’s Biography on a Tour of the Tverskoy District

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    An important disclaimer is at the bottom of this article.

    Tverskaya Street, one of the main streets in the capital, bore the name of the Soviet writer Maxim Gorky for several decades of the last century. Here, in house 12, building 2 (the address is modern, the numbering was different before), Ivan Sytin lived until 1934. He knew Gorky, Anton Chekhov and other writers of that time well. Before the revolution, he was a famous entrepreneur, one of the first publishers of the Russian Empire, the man who introduced the peasants to the works of Alexander Pushkin.

    Together with Alexey Shalamov, a tour guide at the I.D. Sytin Apartment Museum, we travel into the past, which “begins” on the second floor of the house, now a 19th century cultural heritage site, at the entrance to apartment No. 274.

    Family portrait in the interior

    “Ivan Dmitrievich and his family moved here in 1928. He lived in Moscow for a long time – from the age of 15, and moved several times. This apartment was his last home. Before that, the Sytins lived in a mansion on Pushkinskaya, but when the enterprises were nationalized, the family was given this apartment as a replacement. They moved some of the furniture here, so now we can show you the original items,” Alexey Shalamov begins the tour.

    The apartment is truly amazing — an interesting layout, high ceilings, burgundy walls in the hallway elegantly set off by Art Nouveau chandeliers and a pear-wood wardrobe, in the mirrors of which outstanding figures of the early 20th century looked at themselves on Pushkin Square. Alexander Kuprin, Dmitry Merezhkovsky, Ivan Bunin, Alexander Blok, Ilya Repin, Nikolai Roerich, Ivan Bilibin — invisible traces of their coats and hats are kept on the hooks and hangers in the hallway. The Sytins lived here as a large family of 15 people, the last of which moved out of the apartment only in the 1970s. The museum is currently hosting an exhibition called “Traditions of the Sytin Family,” created with the participation of Ivan Dmitrievich’s great-granddaughter. The exhibition tells about the family’s legacy and memory, gives an opportunity to look into the home world, and touch upon the personal life of one of the main educators of the Russian Empire.

    What was read on the “gulvars”, bazaars and in villages. We study popular literature of the 19th-20th centuries

    Ivan Sytin’s career path is truly impressive – the future publisher came from the Kostroma province and went to work in the bookstore of the merchant Pyotr Sharapov as a 15-year-old teenager, and ten years later he acquired his first lithographic press and started his own business, which later turned into a bookstore at the Ilyinsky Gate, and into the “Partnership of I.D. Sytin and Co.”, and into the publishing house “Posrednik”, created jointly with Leo Tolstoy and Vladimir Chertkov. He developed the magazine “Around the World”, which exists to this day, and on Chekhov’s advice acquired the rights to publish the newspaper “Russkoye Slovo”, deciding to increase its circulation at all costs. And he achieved his goal!

    Pushkinskaya Square and its surroundings

    Having learned the family history and imbued with the atmosphere of those years, we go out onto Tverskaya Street and move towards the monument to the sun of Russian poetry, crossing Strastnoy Boulevard. If you leave Pushkin Square on the right, then straight ahead, to the left of the Izvestia newspaper building, you can see the house of I.D. Sytin, where the family lived for more than twenty years before moving to an apartment. The estate, built according to the design of Adolf Erichson, is an example of the Art Nouveau style, very popular at that time. The publishing houses of the Pravda and Trud newspapers were later located here. Due to the fact that the building was moved several dozen meters at one time, the authentic architecture was partially lost, but on the facade you can see details decorated according to sketches by Ivan Bilibin.

    We go deeper into Pushkin Square and stop at the memorial stone to the Strastnoy Monastery. Founded in 1654, it was destroyed in 1937; its territory also housed a necropolis. Ivan Dmitrievich was a religious man, and when his wife died, she was buried here. The monastery’s bell tower offered a magnificent view of the city. Alexey Shalamov explains: “It is known that Nicholas II came here. The King of Sweden and Norway also climbed the bell tower, looked around Moscow and said that all foreigners should visit this monastery.”

    Passing the building of the Izvestia newspaper, on the same side we pay attention to the main house of the city estate of the Dolgorukovs – Bobrinskys. At one time, the president of the Academy of Arts and the Minister of Public Education Sergei Uvarov lived there, Alexander Pushkin and Anton Chekhov visited many times, the Itinerants organized exhibitions, the editorial office of the magazine Novy Mir worked there.

    Along Malaya Dmitrovka

    Around the corner on Malaya Dmitrovka is the Church of the Nativity of the Virgin Mary in Putinki, a beautiful Orthodox tent-roofed church, unique in its kind. Ivan Sytin often came here with his family and was even the church warden of the parish – it is known that two of his sons were married in the church. Literally in the next building is Mark Zakharov’s Lenkom – now a famous capital theater, and once a gentlemen’s club a la russe. “The merchants decided to build their own opposite the aristocratic club – and so that it would be better,” comments Alexey Shalamov. The 1909 building was erected according to the design of the architect Illarion Ivanov-Shits in a style that is difficult to describe unambiguously: a careful look will recognize elements of Art Nouveau, classicism, eclecticism, and signs of Art Deco. Inside is a large concert hall, a library, billiard rooms, a winter garden and, of course, a very good restaurant. Important business meetings and gatherings were also held here, and Ivan Sytin was also present.

    The final point of this part of the route is the building of the Loan Treasury in Nastasinsky Lane, built in the 1910s by Vladimir Pokrovsky, one of the founders of the neo-Russian style (now a cultural heritage site of federal significance). Here, loans were issued to merchants, among whom, probably, could have been the main hero of our excursion.

    Back to the roots

    On the way back, Alexey Shalamov told about the specifics of the publisher’s branded stores – there were five of them in Moscow, all of them were easily recognizable, thus creating additional advertising for Sytin’s life’s work. The talented entrepreneur grew up in a simple family and knew well what people liked. Therefore, he paid special attention to illustrations that attracted the eye more than the text, collaborated with talented artists, as well as with peddlers who delivered books for sale to peasants in remote villages and hamlets.

    And here we are again, the entrance to the I.D. Sytin Apartment Museum. “The house is very old, it has been heavily remodeled. If we talk about the foundation, it is from the 18th century – the Saltykov estate was here. And the house was built in the 1820s for the chief of police Alexander Shulgin – a very interesting person. Firstly, he was a contemporary of Pushkin, and secondly, his namesake. And there are many similarities in their fates,” says Alexey Shalamov.

    Classicism, Art Nouveau, Constructivism — these walls remember everything. After Shulgin, the house was owned by the entrepreneur Shevaldyshev, who opened a hotel here, where Leo Tolstoy and Fyodor Tyutchev stayed. On the ground floor there was a stagecoach office — one of the first types of public transport in Moscow, and in the neighboring Kozitsky Lane, taxis now stand, just like carriages a hundred years ago. After the revolution, various editorial offices and studios were located here, in one of them Vladimir Lenin recorded his fiery speech. Since 1928, the house has become associated with the name of Sytin, without whom the map of the Tverskoy District would be incomplete.

    Ivan Dmitrievich was an extraordinary, very hardworking person, a visionary and a pioneer, whose life path deserves a separate book. On excursions in the I.D. Sytin Apartment Museum, you will be told more about him. Tickets can be purchased atMos.ru.

    Get the latest news quicklyofficial telegram channelthe city of Moscow.

     

    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 –

  • MIL-OSI United Kingdom: Improved trade rules to boost business and growth across the UK

    Source: United Kingdom – Executive Government & Departments

    Press release

    Improved trade rules to boost business and growth across the UK

    New changes to how the UK Internal Market Act works to benefit businesses across the four nations.

    • New reforms will ensure businesses can trade smoothly across the UK’s four nations, helping them operate more efficiently and with greater certainty. 
    • Changes respond directly to business feedback and are a key part of the government’s Plan for Change to unlock investment and jobs, raise living standards and drive long-term growth.
    • Devolved governments will have greater flexibility to set rules that reflect local priorities, while protecting the UK’s internal market, worth £129bn a year, and supporting a more collaborative approach.

    Businesses trading across the UK’s four nations will benefit from clearer and more certain rules, following government changes to how the UK Internal Market Act works today [15 July]. 

    Following extensive feedback from businesses – including calls for greater clarity, consistency, and collaboration – the UK Government has completed a review of the Act ahead of schedule, ensuring seamless trading between the nations. 

    The updated approach puts business needs at the forefront, while also enabling devolved governments to shape laws which align with their own priorities. A transparent and well-managed internal market will help to minimise the risk of unnecessary trade barriers, providing certainty for businesses to invest, boosting growth and raising living standards as the government delivers on its Plan for Change. 

    In response to businesses’ asks, the rules will now be made in a way that is more transparent, streamlined, and considers a broader evidence base, encouraging open conversations between governments and making it easier for businesses to engage with and understand how decisions are made and applied across the UK. 

    Protecting the environment and public health will be taken into account alongside economic factors when a government proposes excluding an area from the UK Internal Market Act. In addition, if a proposed change has only a limited economic impact, this can now be agreed through a streamlined process. 

    This updated approach will better enable all four governments to agree shared rules across a wide range of areas including chemicals and pesticides and provide more flexibility to legislate. 

    Minister for Trade Policy Douglas Alexander said: 

    “A thriving internal market is essential to the UK’s economic success, so we’ve listened to what businesses want — and we’re acting ahead of schedule.

    “These reforms will keep trade flowing, reduce friction, and unlock growth across all four nations.

    “We’ve also worked closely with devolved governments to ensure they can deliver on their priorities.”

    Jane Gratton, Deputy Director of Public Policy at the British Chambers of Commerce, said: 

    “Trade between the nations of the UK is vital to the health of our overall economy and a key driver of growth. Businesses want to see devolved and UK governments working together to ensure there are no unnecessary barriers to the flows of goods and services between us.

    “The UK Internal Market Act is key to this, setting the foundations which underpin over £100bn of trade. This new streamlined approach to rulemaking will give businesses the certainty they need so they can grow, invest, and prosper.” 

    This is just another example of how we’re making things better for business, alongside cutting regulation and reducing administrative costs to boost businesses and growth across the country for big and small firms.

    The UK internal market supported over £129 billion of trade between the four nations in 2019 — equivalent to around 6% of the UK economy. For Scotland, Wales and Northern Ireland, sales to the rest of the UK make up a major share of their external sales — typically around 60%. The reforms published today aim to protect and grow that vital trade, ensuring businesses can operate with confidence and certainty.  

    This announcement follows a wide-ranging consultation launched in January 2025 and a statutory review announced in December 2024. The consultation received almost a hundred responses, from businesses, academics, environmental groups and the devolved governments. The improvements made to the operation of the Act are a result of those responses. 

    Together, these steps mark a shift toward a more business-led, cooperative approach to managing the internal market — one that supports economic growth while respecting devolved powers.   

    Notes to editors: 

    • The UK government is required by law to review elements of the UK Internal Market Act by December 2025. 
    • These changes do not affect provisions relating to Northern Ireland, which are tied to the Windsor Framework. 
    • The UK Government continues to be committed to the Common Frameworks programme and improving transparency and collaboration between the four governments of the UK, which is clearly demonstrated by the outcomes of this review.
    • Further details can be found on the consultation outcome page.

    Updates to this page

    Published 15 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Change of His Majesty’s Ambassador to Armenia

    Source: United Kingdom – Executive Government & Departments

    Press release

    Change of His Majesty’s Ambassador to Armenia

    Ms Alexandra Coles has been appointed His Majesty’s Ambassador to the Republic of Armenia in succession to Mr John Gallagher.

    Ms Alexandra Cole has been appointed His Majesty’s Ambassador to the Republic of Armenia in succession to Mr John Gallagher who will be transferring to another Diplomatic Service appointment.  Ms Cole will take up her appointment during September 2025.

    Curriculum vitae

    Full name: Alexandra Pamela Cole

    Year Role
    2024 to present Pre-posting training
    2023 to 2024 FCDO, Head of Contingency Planning, MENA
    2020 to 2023 Doha, Deputy Head of Mission
    2018 to 2020 Tbilisi, Deputy Head of Mission
    2013 to 2018 UK Mission to the UN in Geneva, Counsellor Specialised Agencies
    2011 to 2013 FCO, Policy Unit
    2008 to 2010 Cairo, Consular Regional Director
    2006 to 2008 FCO, Engaging with Islamic World Group
    2004 to 2006 Islamabad, Second Secretary Human Rights
    2002 to 2004 Sarajevo, Second Secretary Political
    2001 to 2002 Pre-posting training (including Bosnian language training)
    1999 to 2001 FCO, Personnel Management Unit
    1996 to 1999 Tehran, Entry Clearance Officer
    1994 to 1995 FCO, Trade Union Side
    1996 to 1999 Tehran, Entry Clearance Officer
    1992 to 1994 FCO, Finance Department
    1990 to 1992 FCO, Migration and Visa Department
    1990 Joined FCO

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Email the FCDO Newsdesk (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 15 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI China: EU proposes new countermeasures amid trade dispute with US

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

    This photo taken on Oct. 4, 2024 shows the European Commission building in Brussels, Belgium. [Photo/Xinhua]

    The European Union (EU) has proposed a new round of tariffs on U.S. goods worth 72 billion euros (84 billion U.S. dollars), amid the ongoing trade dispute between the world’s largest economy and its biggest trading partner.

    EU trade ministers met in Brussels on Monday following U.S. President Donald Trump’s surprise announcement over the weekend of new tariffs on the bloc. Maros Sefcovic, the EU’s trade chief, said after the meeting that it was “very obvious from the discussions today, the 30 percent is absolutely unacceptable.”

    He said that the commission was sharing proposals with the 27 members “for the second list of goods accounting for some 72 billion euros (84 billion dollars) worth of U.S. imports. They will now have a chance to discuss it. This does not exhaust our toolbox and every instrument remains on the table.”

    Lars Lokke Rasmussen, the foreign minister of Denmark, which recently assumed the EU presidency, said the bloc views the new tariff as “absolutely unacceptable and unjustified” and is prepared to respond if talks with Washington fail to produce a viable outcome.

    “We are committed to continuing working with the United States on a negotiated outcome,” he said, adding that the agreement has to be “mutually acceptable” on both sides.

    In a letter to European Commission President Ursula von der Leyen on Saturday morning, Trump announced a 30 percent tariff on the EU as of Aug. 1, blaming the bloc for causing “long-term, large, and persistent Trade Deficits.”

    “Our relationship has been, unfortunately, far from reciprocal,” he wrote in the letter. “The EU will allow complete, open Market Access to the United States, with no Tariff being charged to us, in an attempt to reduce the large Trade Deficit.”

    In response to Trump’s latest deadline, the EU decided to postpone retaliatory counter tariffs on 21 billion euros (24.5 billion dollars) of U.S. goods that had been due to kick in at midnight on Monday until Aug. 1.

    The EU is open to trade talks with the United States for an agreement before the deadline, but won’t rule out taking countermeasures, said Von der Leyen.

    “We remain ready to continue working towards an agreement by Aug. 1,” the EU leader said in a statement. “At the same time, we will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required.”

    The proposed tariff threatens to take a heavy toll on the EU economy. An analysis by the Milan-based Institute for International Political Studies suggested that Italy would be among the EU countries most affected by the U.S. tariffs.

    Under a 30-percent duty scenario, Germany’s GDP would contract by an estimated 0.5 percent compared to a no-tariff baseline, while Italy’s GDP would shrink by approximately 0.36 percent, said the think tank.

    On Monday, the Association for the Development of Industry in the Mezzogiorno (SVIMEZ) released its estimate of the impact of the U.S. tariffs on Italy’s exports, projecting a reduction of nearly one-fifth in export volume and a loss of 12.4 billion euros (14.48 billion U.S. dollars) in trade once the tariffs take effect.

    SVIMEZ also warned of broader macroeconomic consequences, estimating a 0.5-percent reduction in Italy’s GDP in 2026 and the potential loss of up to 150,000 jobs, including some 13,000 in the country’s southern regions.

    “Our government is in close contact with the European Commission and all parties involved in the tariff negotiations,” said Italian Prime Minister Giorgia Meloni in a statement.

    “A trade war within the West would make us all weaker in the face of global challenges we are addressing together. Europe has the economic strength to protect its interests and reach a fair agreement,” she said.

    MIL OSI China News –

  • MIL-OSI China: EU proposes new countermeasures amid trade dispute with US

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

    This photo taken on Oct. 4, 2024 shows the European Commission building in Brussels, Belgium. [Photo/Xinhua]

    The European Union (EU) has proposed a new round of tariffs on U.S. goods worth 72 billion euros (84 billion U.S. dollars), amid the ongoing trade dispute between the world’s largest economy and its biggest trading partner.

    EU trade ministers met in Brussels on Monday following U.S. President Donald Trump’s surprise announcement over the weekend of new tariffs on the bloc. Maros Sefcovic, the EU’s trade chief, said after the meeting that it was “very obvious from the discussions today, the 30 percent is absolutely unacceptable.”

    He said that the commission was sharing proposals with the 27 members “for the second list of goods accounting for some 72 billion euros (84 billion dollars) worth of U.S. imports. They will now have a chance to discuss it. This does not exhaust our toolbox and every instrument remains on the table.”

    Lars Lokke Rasmussen, the foreign minister of Denmark, which recently assumed the EU presidency, said the bloc views the new tariff as “absolutely unacceptable and unjustified” and is prepared to respond if talks with Washington fail to produce a viable outcome.

    “We are committed to continuing working with the United States on a negotiated outcome,” he said, adding that the agreement has to be “mutually acceptable” on both sides.

    In a letter to European Commission President Ursula von der Leyen on Saturday morning, Trump announced a 30 percent tariff on the EU as of Aug. 1, blaming the bloc for causing “long-term, large, and persistent Trade Deficits.”

    “Our relationship has been, unfortunately, far from reciprocal,” he wrote in the letter. “The EU will allow complete, open Market Access to the United States, with no Tariff being charged to us, in an attempt to reduce the large Trade Deficit.”

    In response to Trump’s latest deadline, the EU decided to postpone retaliatory counter tariffs on 21 billion euros (24.5 billion dollars) of U.S. goods that had been due to kick in at midnight on Monday until Aug. 1.

    The EU is open to trade talks with the United States for an agreement before the deadline, but won’t rule out taking countermeasures, said Von der Leyen.

    “We remain ready to continue working towards an agreement by Aug. 1,” the EU leader said in a statement. “At the same time, we will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required.”

    The proposed tariff threatens to take a heavy toll on the EU economy. An analysis by the Milan-based Institute for International Political Studies suggested that Italy would be among the EU countries most affected by the U.S. tariffs.

    Under a 30-percent duty scenario, Germany’s GDP would contract by an estimated 0.5 percent compared to a no-tariff baseline, while Italy’s GDP would shrink by approximately 0.36 percent, said the think tank.

    On Monday, the Association for the Development of Industry in the Mezzogiorno (SVIMEZ) released its estimate of the impact of the U.S. tariffs on Italy’s exports, projecting a reduction of nearly one-fifth in export volume and a loss of 12.4 billion euros (14.48 billion U.S. dollars) in trade once the tariffs take effect.

    SVIMEZ also warned of broader macroeconomic consequences, estimating a 0.5-percent reduction in Italy’s GDP in 2026 and the potential loss of up to 150,000 jobs, including some 13,000 in the country’s southern regions.

    “Our government is in close contact with the European Commission and all parties involved in the tariff negotiations,” said Italian Prime Minister Giorgia Meloni in a statement.

    “A trade war within the West would make us all weaker in the face of global challenges we are addressing together. Europe has the economic strength to protect its interests and reach a fair agreement,” she said.

    MIL OSI China News –

  • MIL-OSI: MEXC Research Report Unveils 2025 ROI Benchmarks and Launchpad Landscape Performance Metrics

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, July 15, 2025 (GLOBE NEWSWIRE) — MEXC Research, the industry research arm of global cryptocurrency exchange MEXC, has released a comprehensive industry report titled “From ICO to Launchpad”, analyzing the evolution of token offering models and their structural impact on the crypto ecosystem. As the industry experiences a revival in launchpad activity, the report compares centralized exchange (CEX) and decentralized exchange (DEX) platforms through performance metrics, user access design, and long-term sustainability.

    Amid renewed bullish momentum, launchpads have become a core mechanism for distributing new tokens. However, most users face opaque allocation models, inconsistent valuation standards, and limited access to early-stage projects. The MEXC Research report provides one of the most detailed comparative breakdowns of launchpad mechanics to date, highlighting both opportunities and critical flaws in the current model.

    Key Takeaways:

    • MEXC Launchpad launched 5 projects in H1 2025 with an average peak ROI of 10.83x, using a dual-pool, no-VIP model.
    • Bybit delivered the highest single-project return in 2025 (Xterio, 14.71x), but required staking tiers and VIP levels for access.
    • Gate.io offered the lowest financial barrier to participate (1 USDT minimum), but most allocation went to stakers.
    • DEX models gained retail popularity for open access, but face growing fraud risks and price volatility.

    Key Performance Findings

    Using data sourced from CryptoRank and official disclosures, the report compares dozens of token launches across major platforms, revealing significant differences in ROI performance, access mechanics, and allocation fairness.

    MEXC ranked first in the number of launchpad projects in H1 2025, with five new listings and an average peak ROI of 10.83x. Its model is noted for offering fixed allocations and dual pool participation without VIP requirements — a structure that aims to improve retail accessibility.

    Bybit led in peak ROI performance, with its Xterio token reaching a 14.71x return, but used a tiered access model that required users to lock substantial funds in advance. Meanwhile, Gate.io was recognized for its low minimum participation requirement (1 USDT) and a flat subscription model; however, its snapshot period gives early participants a higher allocation, introducing a time-based differentiation.

    DEX platforms like Pump.fun showed extreme virality and open access, but also raised concerns about volatility, rug risk, and lack of vetting. This comparative analysis gives users and builders a clearer picture of not just where returns can be highest, but also how accessible and transparent those returns are for the average participant.

    Systemic Trade-Offs: Fairness, Speed, and Long-Term Value

    The report highlights several structural dilemmas embedded in launchpad design. CEX-based offerings bring brand trust, liquidity support, and product integrations — yet frequently favor large token holders or early insiders. On the other hand, DEX-based platforms democratize participation through bonding curves or open auctions, but are plagued by manipulation and scam projects due to limited due diligence.

    Importantly, the research underlines that many Launchpads now serve more as marketing tools or liquidity events than long-term growth vehicles. Overvalued Fully Diluted Valuations (FDVs), low circulating supplies, and immediate post-launch drawdowns have become systemic issues. This model benefits early sellers and platforms, but undermines holder confidence and ecosystem development.

    Emerging Trends in Token Offerings

    The report identifies three emerging models that may shape the future of token distribution:

    1. Fair Launches with Dynamic Pricing — Projects like pump.fun are experimenting with bonding curves to democratize access, but need stronger safeguards against manipulation.
    2. Contribution-Based Allocation — Platforms like Virtuals Genesis reward ecosystem participation (e.g. holding NFTs, using testnets) rather than staking capital, encouraging organic growth.
    3. CEX-Led Incubation Models — Exchanges like MEXC are expanding beyond token sales by offering staking, marketing support, and liquidity bootstrapping, turning launchpads into full-cycle growth accelerators.

    These formats point toward a hybrid future where trust and security from CEXs meet the openness and virality of DEX mechanics, but with stricter risk controls and better value alignment.

    Call to Action Toward a More Equitable Fundraising Architecture

    The report concludes with a set of recommendations to improve the integrity of launchpads in the next growth cycle. These include:

    • Implementing valuation caps to avoid inflated FDVs
    • Expanding public round allocation ratios
    • Replacing VIP-only access with flexible qualification criteria
    • Offering post-launch accountability and roadmap tracking

    The resurgence of launchpad activity in 2025 reflects more than just market optimism — it underscores a deeper shift in how value, access, and community are structured in the crypto economy. MEXC Research’s report not only compares past and present launchpad performance, but also serves as a blueprint for where the industry must go next. For retail users, it offers clarity. For projects, it offers benchmarks. And for platforms, it delivers a timely warning: in a market defined by momentum and trust, outdated mechanics will quickly be left behind.

    Read the full report on MEXC Learn.

    About MEXC Research

    MEXC Research is the market analysis and industry research arm of global cryptocurrency exchange MEXC. It provides institutional-grade insights, user behavior analytics, and infrastructure assessments to inform the next era of Web3 growth.

    MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6c220601-0981-44d8-afb8-a6436f779718

    The MIL Network –

  • MIL-Evening Report: Federal Court rules Australian government doesn’t have a duty of care to protect Torres Strait Islanders from climate change

    Source: The Conversation (Au and NZ) – By Liz Hicks, Lecturer in Law, The University of Melbourne

    Australian Climate Case

    The Federal Court has handed down its long-awaited judgement in a four-year climate case
    brought by Torres Strait Islanders.

    Elders Uncle Pabai Pabai and Uncle Paul Kabai took the Australian government to court on behalf of their community, arguing the government has a duty of care to protect them from climate change. They also asked the court to legally recognise the cultural loss and harm they are experiencing from sea-level rise and climate-induced flooding.

    But the court declined to recognise either duty or to legally recognise cultural harm.

    Many climate justice advocates hoped today’s decision would be the climate equivalent of the famous Mabo decision, which recognised native title. There are many parallels. At stake was the legal recognition of the harms and loss of connection to Country that Australia’s First Peoples are experiencing through government inaction on climate change.

    Vulnerability and leadership

    Torres Strait Islanders are well placed to bring this kind of legal claim.

    To sue a government for climate inaction, plaintiffs often have to show they are particularly impacted by climate harms over and above the rest of the population.

    Claims across the world have been brought by Indigenous peoples, farmers, young people who will experience catastrophic climate impacts in the future, and people with heat-sensitive illnesses.

    The islands on which Uncle Pabai and Uncle Paul live, Sabai and Boigu, are extremely low-lying. Climate-related flooding is already affecting whether people can live there.

    Importantly, small differences in future emissions scenarios will significantly impact their habitability. Every fraction of a degree of warming will matter.

    During the case, climate scientists gave evidence that on the current emissions scenario, the islands are highly likely to be uninhabitable less than 25 years from now.

    This will force Torres Strait Islanders to leave, severing them from thousands of years of tradition, fulfilment of their traditional practices (called Ailan Kastom), and connection to country and identity.

    The legal claim against the Commonwealth

    Uncle Pabai and Uncle Paul argued the Commonwealth government has a duty to protect Torres Strait Islanders from climate change when setting national emissions-reduction targets. They argued the government breached that duty by not setting targets in line with the best available science. This would involve calculating reduction targets by reference to Australia’s share to keep global warming to as close to 1.5 degrees above pre-industrial levels as possible.

    Second, they argued the government has a duty to protect property, the fulfilment of their traditional customs, and the health and life of Torres Strait Islanders from climate impacts. They argued the government breached that duty by failing to properly fund the construction of sea walls.

    What the Federal Court said

    Justice Wigney’s judgement emphasised the existential threat of climate change. It noted Torres Strait Islanders are particularly vulnerable to climate impacts and face a “bleak future” unless urgent action is taken.

    But it accepted the government’s argument that setting emissions reductions targets, and allocating funding for protective infrastructure, involves “policy” considerations a court can’t review.

    When do governments owe a duty of care to climate vulnerable groups?

    Plaintiffs elsewhere in the world have successfully argued that their government owed them a duty of care to protect them from climate harms by lowering emissions. But the argument has had mixed success in Australia.

    To establish a legal duty of care, plaintiffs need to show they have some kind of special relationship with the defendant. This relationship arises through factors such as the plaintiff’s vulnerability to a certain harm, and the defendant’s knowledge of, and control over, that harm.

    As First Peoples, Uncle Pabai and Uncle Paul argued they have this kind of relationship with the government. They pointed to a range of factors such as the particular vulnerability of the Torres Strait Islanders, and the government’s control over climate harms to them.

    Novel duties of care can be imposed on government and public authorities. But Australian courts have sometimes declined to do this where they would have to judge how governments have weighed different policy considerations.

    This is partly because it would be too difficult for the court to decide whether the government had met the legal standard of behaviour.

    Courts are more willing to find a government owes a duty of care where the government is merely applying a policy, or where it can measure the government’s behaviour against clear standards. But courts have also acknowledged that the distinction between making policy and applying policy is blurry.

    Uncle Pabai and Uncle Paul argued the Australian government has committed to the Paris Agreement, and this sets out a clear legal standard of the “best available science”.

    The Australian government argued its decisions about climate policy involve complex political priorities that a court shouldn’t review. It argued it shouldn’t be bound by the best available science as a legal standard.

    Paul Kabai and Pabai Pabai at Boigu Island, the most northerly inhabited island of Queensland. It is part of the top-western group of the Torres Strait Islands.
    Talei Elu

    The role of courts in protecting people from climate harm

    Today’s decision is a setback for both the climate and Indigenous justice movements. But the situation isn’t as bleak as it may seem.

    Across the world, plaintiffs in courts are gaining legal ground on climate accountability. It’s becoming easier to attribute harms to emitters, and to develop standards against which governments can be measured. And courts frequently reject government arguments that their contribution to climate change is minimal. They emphasise that each country must do its share for global collective action to work.

    It is a question of when, rather than if, law will adapt to deal with climate impacts. Much like a rising tide breaking against a seawall, the future impact of climate change on things that law already protects is too extreme for the law to resist.

    Liz Hicks has previously received a Commonwealth Research Training Program stipend and currently receives funding from the Manchester-Melbourne-Toronto Research Fund for a project on constitutional accountability and the environment. She is also a member of the Australian Greens Victoria.

    – ref. Federal Court rules Australian government doesn’t have a duty of care to protect Torres Strait Islanders from climate change – https://theconversation.com/federal-court-rules-australian-government-doesnt-have-a-duty-of-care-to-protect-torres-strait-islanders-from-climate-change-259999

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Federal Court rules Australian government doesn’t have a duty of care to protect Torres Strait Islanders from climate change

    Source: The Conversation (Au and NZ) – By Liz Hicks, Lecturer in Law, The University of Melbourne

    Australian Climate Case

    The Federal Court has handed down its long-awaited judgement in a four-year climate case
    brought by Torres Strait Islanders.

    Elders Uncle Pabai Pabai and Uncle Paul Kabai took the Australian government to court on behalf of their community, arguing the government has a duty of care to protect them from climate change. They also asked the court to legally recognise the cultural loss and harm they are experiencing from sea-level rise and climate-induced flooding.

    But the court declined to recognise either duty or to legally recognise cultural harm.

    Many climate justice advocates hoped today’s decision would be the climate equivalent of the famous Mabo decision, which recognised native title. There are many parallels. At stake was the legal recognition of the harms and loss of connection to Country that Australia’s First Peoples are experiencing through government inaction on climate change.

    Vulnerability and leadership

    Torres Strait Islanders are well placed to bring this kind of legal claim.

    To sue a government for climate inaction, plaintiffs often have to show they are particularly impacted by climate harms over and above the rest of the population.

    Claims across the world have been brought by Indigenous peoples, farmers, young people who will experience catastrophic climate impacts in the future, and people with heat-sensitive illnesses.

    The islands on which Uncle Pabai and Uncle Paul live, Sabai and Boigu, are extremely low-lying. Climate-related flooding is already affecting whether people can live there.

    Importantly, small differences in future emissions scenarios will significantly impact their habitability. Every fraction of a degree of warming will matter.

    During the case, climate scientists gave evidence that on the current emissions scenario, the islands are highly likely to be uninhabitable less than 25 years from now.

    This will force Torres Strait Islanders to leave, severing them from thousands of years of tradition, fulfilment of their traditional practices (called Ailan Kastom), and connection to country and identity.

    The legal claim against the Commonwealth

    Uncle Pabai and Uncle Paul argued the Commonwealth government has a duty to protect Torres Strait Islanders from climate change when setting national emissions-reduction targets. They argued the government breached that duty by not setting targets in line with the best available science. This would involve calculating reduction targets by reference to Australia’s share to keep global warming to as close to 1.5 degrees above pre-industrial levels as possible.

    Second, they argued the government has a duty to protect property, the fulfilment of their traditional customs, and the health and life of Torres Strait Islanders from climate impacts. They argued the government breached that duty by failing to properly fund the construction of sea walls.

    What the Federal Court said

    Justice Wigney’s judgement emphasised the existential threat of climate change. It noted Torres Strait Islanders are particularly vulnerable to climate impacts and face a “bleak future” unless urgent action is taken.

    But it accepted the government’s argument that setting emissions reductions targets, and allocating funding for protective infrastructure, involves “policy” considerations a court can’t review.

    When do governments owe a duty of care to climate vulnerable groups?

    Plaintiffs elsewhere in the world have successfully argued that their government owed them a duty of care to protect them from climate harms by lowering emissions. But the argument has had mixed success in Australia.

    To establish a legal duty of care, plaintiffs need to show they have some kind of special relationship with the defendant. This relationship arises through factors such as the plaintiff’s vulnerability to a certain harm, and the defendant’s knowledge of, and control over, that harm.

    As First Peoples, Uncle Pabai and Uncle Paul argued they have this kind of relationship with the government. They pointed to a range of factors such as the particular vulnerability of the Torres Strait Islanders, and the government’s control over climate harms to them.

    Novel duties of care can be imposed on government and public authorities. But Australian courts have sometimes declined to do this where they would have to judge how governments have weighed different policy considerations.

    This is partly because it would be too difficult for the court to decide whether the government had met the legal standard of behaviour.

    Courts are more willing to find a government owes a duty of care where the government is merely applying a policy, or where it can measure the government’s behaviour against clear standards. But courts have also acknowledged that the distinction between making policy and applying policy is blurry.

    Uncle Pabai and Uncle Paul argued the Australian government has committed to the Paris Agreement, and this sets out a clear legal standard of the “best available science”.

    The Australian government argued its decisions about climate policy involve complex political priorities that a court shouldn’t review. It argued it shouldn’t be bound by the best available science as a legal standard.

    Paul Kabai and Pabai Pabai at Boigu Island, the most northerly inhabited island of Queensland. It is part of the top-western group of the Torres Strait Islands.
    Talei Elu

    The role of courts in protecting people from climate harm

    Today’s decision is a setback for both the climate and Indigenous justice movements. But the situation isn’t as bleak as it may seem.

    Across the world, plaintiffs in courts are gaining legal ground on climate accountability. It’s becoming easier to attribute harms to emitters, and to develop standards against which governments can be measured. And courts frequently reject government arguments that their contribution to climate change is minimal. They emphasise that each country must do its share for global collective action to work.

    It is a question of when, rather than if, law will adapt to deal with climate impacts. Much like a rising tide breaking against a seawall, the future impact of climate change on things that law already protects is too extreme for the law to resist.

    Liz Hicks has previously received a Commonwealth Research Training Program stipend and currently receives funding from the Manchester-Melbourne-Toronto Research Fund for a project on constitutional accountability and the environment. She is also a member of the Australian Greens Victoria.

    – ref. Federal Court rules Australian government doesn’t have a duty of care to protect Torres Strait Islanders from climate change – https://theconversation.com/federal-court-rules-australian-government-doesnt-have-a-duty-of-care-to-protect-torres-strait-islanders-from-climate-change-259999

    MIL OSI Analysis – EveningReport.nz –

  • Madhya Pradesh CM wraps up Dubai visit with strong investment pitch and strategic partnerships

    Source: Government of India

    Source: Government of India (4)

    Madhya Pradesh Chief Minister Dr. Mohan Yadav wrapped up his three-day official visit to the United Arab Emirates today, delivering a compelling investment pitch that’s already generating significant interest from global investors. The Chief Minister’s packed Dubai schedule included high-level meetings with UAE government officials, business leaders, and Indian diaspora members,  all focused on positioning Madhya Pradesh as India’s next major investment destination.

    At the ‘Madhya Pradesh Business Investment Forum‘ hosted alongside the Indian Business and Professional Council, Dr. Yadav made his case directly to potential investors. “Madhya Pradesh invites you to invest, with endless possibilities in all sectors,” he declared, highlighting the state’s new business-friendly policies and commitment to adapting to entrepreneur needs. The Chief Minister’s promise? Businesses can launch operations within just thirty days, thanks to a dedicated Investment Facilitation Cell, reduced red tape, and a transparent land allotment system.

    The numbers tell the story. Senior officials outlined the Industrial Policy 2025 and MSME Policy 2025, offering up to fifty percent support on capital expenses, complete stamp duty exemptions, and targeted subsidies across green infrastructure, research and development, exports, and industrial housing. Additional Chief Secretary Sanjay Dubey made a striking claim about the state’s high-tech push into semiconductors, space technology, and deeptech sectors. “On day one, investors in our data center sector can be cash-positive. That’s the kind of policy backing we offer,” he announced, revealing plans for new Centres of Excellence and innovative funding models.

    Consul General of India in Dubai, Satish Kumar Sivan, placed the visit in broader context, calling the India-UAE relationship “one of the most consequential bilateral partnerships in the world today.” He pointed to the dramatic surge in trade since the 2022 Comprehensive Economic Partnership Agreement, emphasizing Madhya Pradesh’s competitive advantages in agriculture, renewables, tourism, and digital economy. New opportunities are emerging too… including Bharat Mart, a logistics platform for Indian small businesses launching in Jebel Ali, and the integration of India’s UPI payment system with the UAE’s AANI network.

    The Chief Minister’s diplomatic offensive included a crucial meeting with UAE Minister of State for Foreign Trade Dr. Thani Bin Ahmed Al Zeyoudi, plus corporate discussions with heavyweights like Emirates, Lulu Group, DP World, Texmas, G42, Sharaf DG, Tata Group, and Gulf Islamic Investments. Dr. Yadav also toured key facilities including the BAPS Hindu Mandir and Dubai Textile City, culminating in a significant MoU signing with Texmas to strengthen textile and industrial collaboration.

    The visit balanced business with community engagement. A cultural and networking event at JW Marriott brought together the Indian diaspora, while a tourism investment roundtable and business forum featured detailed presentations from state officials. “Madhya Pradesh, with its strength in food processing, textiles, green energy, wellness, and startups, is ready to become a hub for global business,” Dr. Yadav concluded, expressing confidence that this visit marks the beginning of a new chapter in UAE-MP economic cooperation.

    The Chief Minister’s Dubai mission appears to have struck the right chord with investors and officials alike, setting the stage for what could be a significant expansion of economic ties between the UAE and one of India’s fastest-growing states.

  • MIL-OSI United Kingdom: Leeds Reforms to rewire financial system, boost investment and create skilled jobs across UK

    Source: United Kingdom – Executive Government & Departments

    News story

    Leeds Reforms to rewire financial system, boost investment and create skilled jobs across UK

    Red tape cut and savers supported to invest as Chancellor rewires financial system to boost growth

    • Leeds Reforms will make the UK the number one destination for financial services businesses by 2035, attracting inward investment and creating good skilled jobs across the UK through the Plan for Change. 

    • Rachel Reeves promises to “double down on the UK’s global strengths” as she unveils first-ever Financial Services Growth and Competitiveness sector plan, a key plank of the modern Industrial Strategy.

    Working people will be equipped with the support they need to invest and grow their savings, under plans to rewire the financial system to attract investment, create good skilled jobs across the country and put more money into people’s pockets. 

    Banks will send investment opportunities to savers with cash sitting in low-interest accounts for the first time, and major financial institutions – including high street banks – are backing an advertising campaign that will highlight the opportunities of investing for consumers who are able to do so.  

    Under current trends, moving £2,000 from these accounts to stocks and shares could make millions of people over £9,000 better off in 20 years’ time. 

    The plans to boost people’s savings and the economy were unveiled by the Chancellor at a summit of top finance executives in Leeds today as she set out the widest ranging reforms to financial regulation in over a decade – backing one of the key eight growth driving sectors of the future identified in the Government’s modern Industrial Strategy published last month.    

    The Chancellor told executives that, having delivered stability and a sustainable strategy for investment, it was time for the UK to “double down on its global strengths” through reform to make sure it stays ahead in the global race for business investment and the good skilled jobs they bring.

    Chancellor of the Exchequer, Rachel Reeves said:

    We fixed the public finances and stabilised the economy. Now we need to double down on our global strengths to put the UK ahead in the global race for financial businesses – creating good skilled jobs in every part of the country and helping savers’ money go further through our Plan for Change.

    Business Secretary, Jonathan Reynolds said:

    Financial Services are a UK success story, and one of the eight sectors we identified with the biggest potential for growth in our modern Industrial Strategy. 

    This sector plan will help make the UK the number one destination for financial services by 2035 and is all about delivering on our Plan for Change to boost the economy and put more money in people’s pockets.

    Economic Secretary to the Treasury, Emma Reynolds said:

    Helping people take advantage of better returns from investing is key to better financial health, giving them a stake in a growing economy and connecting promising businesses with capital. These reforms will make the UK the best location for financial services firms and tear down barriers to investment to growing our economy and making families better off.

    The Leeds Reforms tear down the barriers to attracting investment in the finance sector by reintroducing informed risk-taking into the system, cutting unnecessary red tape, driving more finance into public markets and actively helping international companies to set up in the UK. 

    This will position the UK as the number one destination for financial services companies by 2035, attracting business from around the world to harness the knowledge, talent and expertise in financial services hot spots from Glasgow to Leeds, and help the UK achieve an ambitious target to double the growth rate in UK net exports in these services over the next decade.

    Unlocking retail investment 

    The UK has the lowest level of retail investment among G7 countries, meaning savers are not getting the best bang for their buck and UK businesses are starved of an important source of capital. 

    Stocks and shares have performed significantly better than cash savings accounts in recent decades. According to some industry estimates, more than 29 million adults across the UK have cash sitting in a low-interest rate account offering around 1% – while the average return for stocks and shares over the last 10 years is around 9%. If those savers invested £2000 today, they could have £12,000 in 20 years’ time. This compares to £2,700 if they held this money in a cash account offering 1.5% at the current interest rate, making them over £9,000 better off.

    The industry-led ad campaign will help to explain the benefits of investing, and from April 2026 the Financial Conduct Authority will roll out Targeted Support – allowing banks to alert customers about specific investment opportunities to consider shifting money from a low-return current accounts to higher-performing stocks and shares investments.  

    Alongside a review of risk warnings on investment products to make sure they help people to accurately judge risk levels, this will guide people through a key barrier to investing – getting lost between large number of investment products on offer. 

    The Government will continue to consider reforms to ISAs and savings to achieve the right balance between cash savings and investment. 

    As a first step, the Government will allow Long Term Asset Funds to be held in Stocks & Shares ISAs next year, allowing more individuals to invest in assets that will support the UK’s future success, like innovative businesses and infrastructure – which can also deliver better returns.

    Cutting red tape to attract investment and drive growth

    Businesses will be welcomed to the UK with open arms and unnecessary financial red tape that stalls inward investment and slows growth will be drastically cut under the plans. 

    A new concierge service within the Office for Investment will harness UK networks globally to actively court international financial services companies, creating a one-stop-shop to promote the UK and provide tailored support to help businesses plan where to invest based on their needs – better harnessing specialist clusters across the country from asset management in Edinburgh, to Fintech in Leeds and Cardiff, and insurance in Norwich and Norfolk. 

    First-time buyers will be supported to get on the housing ladder, with the Bank of England allowing more lending at over 4.5 times a buyer’s income – which could help 36,000 more people buy a home over its first year and are helping Nationwide support an additional 10,000 first-time buyers by lowering income thresholds for its popular ‘Helping Hand’ mortgage from tomorrow. Simplified mortgage lending rules being considered by the Financial Conduct Authority will also make it easier for existing borrowers to remortgage, while the introduction of a permanent government-backed Mortgage Guarantee Scheme will secure the availability of high loan-to-value mortgage products in times of economic uncertainty. 

    The Financial Ombudsman Service will be returned to its original purpose as a simple, impartial dispute resolution service which quickly and effectively deals with complaints against financial services firms under today’s reforms instead of acting as a quasi-regulator, with its decisions more closely aligned to the Financial Conduct Authority’s rules. This takes action on a key business complaint about the unpredictable and inconsistent nature of redress action, boosting firms’ confidence to invest and innovate. 

    The Senior Managers and Certification Regime – which was originally intended to address failures in individual accountability and culture that contributed to the 2008 financial crisis – has been implemented in a way that creates unnecessary costs for business. Today’s reforms will help deliver a commitment to radically streamline the regime, cutting the burden on firms in half. 

    The Financial Conduct Authority’s Consumer Duty rules were also intended to raise standards in how finance companies treat retail consumers, but today affect the way businesses interact with other businesses – such as investment banks and asset managers. The Financial Conduct Authority will therefore review how the Consumer Duty applies to these wholesale firms.

    Freeing capital for investment 

    Capital will be freed up for banks to invest in the UK. 

    International banks and investors will benefit from greater certainty as the UK backs Bank of England reforms to raise the MREL threshold – the minimum amount of money and certain types of debt that a bank must have – to £25–40 billion, freeing up billions for lending and investment.  

    New Basel 3.1 banking rules will be introduced from January 2027 in a way that supports UK competitiveness, with UK-focused lenders given the clarity they need to plan and invest, while the requirements are delayed for the largest firms’ investment banking activities to ensure the UK is aligned with how other jurisdictions implement the rules. 

    The ring-fencing regime – which separates banks’ retail and investment banking activities – will be reformed. The Economic Secretary will lead a review looking at how changes can strike the right balance between growth and stability, including protecting consumer deposits. 

    This comes alongside a major review by the Financial Policy Committee of bank capital requirements. The review will inform work by the Government and Bank of England to ensure UK banks can compete internationally and provide vital investment in the economy whilst maintaining the international regulatory standards which are crucial to securing financial stability.

    Promoting innovation and making the UK the Fintech capital of the world 

    Bespoke support will be provided to firms as they start, scale and list, and a pipeline of skills will support financial services firms to seize tomorrow’s opportunities for growth.  

    Financial business will receive intensive support through the start-up phase, helping them create a proven concept and attract growth funding. 

    A single regulator point of contact will also help these businesses through the scale-up phase, providing technical support to help understand requirements and speeding up regulator responsiveness. 

    Businesses will also benefit from better access to finance, with the Government recently uplifting the British Business Bank’s financial capacity to £25.6 billion. 

    The sector will also be supported by a better pipeline of skills, with a new Global Talent Taskforce helping attract top international talent to the UK, funding for 50 PhD students through the £187 million TechFirst programme to align their research with the needs of key players in the sector and a new financial services skills compact led by the Financial Services Skills Commission to ensure skills needs are met.

    More information

    • The Financial Services Growth and Competitiveness Strategy sector plan can be found on the Treasury’s website. 

    • Major financial services firms have agreed to support the campaign on retail investment: Barclays, NatWest, HSBC, Lloyds Banking Group, AJ Bell, Hargreaves Lansdown, Vanguard, Freetrade, Octopus Money, Robinhood UK, Trading 212, St James’s Place, Interactive Investor, Schroders and the London Stock Exchange. The Investment Association will provide the secretariat to the campaign. The Money and Pensions Service (MaPS), the Financial Conduct Authority (FCA) and HM Treasury will support the campaign in an advisory capacity. 

    • Figures for how much a saver could benefit from investing in stocks and shares are illustrative. They are not a guarantee of future returns. 

    • The UK will aim to double the real growth rate in net exports of financial services between 2025 and 2035 compared to the last decade (2014-2024). This would mean financial services net exports going from a compound annual growth rate of 1.37% to 2.7%, a cumulative increase in annual financial services net exports of 30% between 2025 and 2035.

    Mike Reigner, Chief Executive Officer, Santander UK said:

    We welcome the announcement of the Leeds Reforms today, which set out a positive vision for UK financial services. The changes outlined within the package are important steps to modernising the UK’s regulatory architecture, and will enable banks like ours to support our customers better and drive growth within the wider economy.

    Sir Charles Roxburgh KCB, Chair, Lloyd’s said:

    Today’s announcements by the Chancellor — focused on streamlining regulation, reducing burdens on firms, and enabling innovation and growth — are a real boost for the London insurance market. The Government’s clear support for our sector, and its recognition of specialty insurance and reinsurance as a Frontier Industry in its Modern Industrial Strategy, strengthen my confidence in Lloyd’s continued success at the heart of the market.

    Hannah Gurga, Director General, ABI said:

    The Leeds Reforms set a constructive and positive path to accelerating investment and growth in the UK economy. Closer alignment between the FOS and FCA, alongside a streamlined Senior Managers and Certification Regime, are critical steps towards delivering the clarity and regulatory environment our industry needs to thrive. It’s encouraging to see the vision set out in the Financial Services Growth and Competitiveness plan, and we look forward to working with the government, regulators and wider industry to help cement the UK’s status as the world’s leading financial centre.

    António Simões, Group CEO, L&G said:

    Driving long-term economic growth and prosperity requires action today and this package is another step in the right direction. Connecting investment capital to the most compelling opportunities, streamlining regulation whilst maintaining standards and protection, and support for consumers to save in ways that will better benefit them in the future is the kind of intervention we need. Now we must keep up the pace and ambition to turn these plans into tangible action that makes a difference on the ground and in people’s pockets.

    Chris Cummings, Chief Executive, the Investment Association said:

    The Leeds Reforms bring together an ambitious programme for financial services reform, which aims to modernise capital markets, cut regulatory red tape and broaden the benefits of investing to more people across the UK – in turn delivering investment-led growth and improved financial resilience for UK households. We called on the government to undertake bold reforms to strengthen the UK’s retail investment culture and they have done so. Better communication of the returns investing brings is key if we’re to empower more people to invest, and we’re proud to take part in the industry-led campaign to raise awareness of the benefits of investing and the review of risk warnings. We’re also extremely pleased that Long-Term Asset Funds will now be incorporated into the Stocks and Shares ISA – a reform we have long called for to broaden access to private markets.

    Drazen Jaksic, Chief Executive Officer, Zurich UK said:

    We welcome the Chancellor’s commitment to building a stronger, more resilient UK economy. The focus on sustainable growth, investment in innovation, and fostering long-term confidence is closely aligned with Zurich’s own priorities. As one of the UK’s leading insurers, we stand ready to work together with policymakers, customers, and partners to help deliver on these goals. We look forward to further engagement with the government to ensure the insurance sector remains robust, innovative, and able to meet the evolving needs of people and businesses across the UK.

    David Postings, Chief Executive, UK Finance said:

    Financial services are vital to the UK economy and I strongly welcome the Chancellor’s support for our sector as one of the UK’s global strengths.

    We submitted a range of ideas to government to help support growth and the UK’s position as a global financial centre. Across many of these key areas the Chancellor has listened and delivered significant positive change.

    Reforming the Financial Ombudsman Service, streamlining regulation in areas such as the Senior Managers and Certification Regime and the Consumer Duty, and supporting work by regulators to unlock capital for lending, will all help to drive investment and create a more pro-growth operating environment. 

    Having a regulatory system that allows for appropriate risk-taking is vital to ensuring the sector can better support UK businesses, consumers and the government’s growth mission.

    Charlie Nunn, CEO, Lloyds Banking Group said:

    We welcome the ambition shown in the Leeds Reforms to unlock investment, boost financial resilience, and support long-term economic growth. As a sector, we have a vital role to play in helping customers make the most of their money and in facilitating investment and innovation that benefits communities and businesses across the UK.

    Updates to this page

    Published 15 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Mosprom presented a chatbot to help the capital’s exporters

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    An important disclaimer is at the bottom of this article.

    The Mosprom Center for Export, Industry and Investment Support has launched a chatbot Mosprom Export Support. The instrument was created within the framework of the city’s systemic program for the development of non-raw materials, non-energy exports of manufacturing companies. This was reported by the Minister of the Moscow Government, head of the capital’s Department of Investment and Industrial Policy Anatoly Garbuzov.

    “On the instructions of Sergei Sobyanin, the city is consistently developing the capital’s export potential. The Mosprom Export Support chatbot has become another convenient tool that will help entrepreneurs enter foreign markets faster and with lower costs. The chatbot contains up-to-date information on federal and regional support measures – from preferential loans and subsidies to fresh analytics and certification – and automatically selects them depending on the size of the company, industry and specific needs of the exporter,” noted Anatoly Garbuzov.

    The service structures data on the export of goods and access to foreign markets: quotas and licenses, duties on 212 countries and territories, non-tariff barriers, sanctions and protection tools. Based on the results of the request, the bot generates reports in a text editor, helping companies choose areas of support and learn about export conditions.

    “The focus of our work is on providing systemic assistance to the capital’s exporters: we listen carefully to their requests and implement digital innovations to make services as convenient and understandable as possible. It is important for us that enterprises can focus on developing their products, while the city team takes on administrative and information issues,” emphasized Olga Starikova, General Director of ANO Mosprom.

    The state actively helps Moscow exporters. National project “International cooperation and export”— is a set of measures of information, financial, insurance and logistics support. Within its framework, the digital platform “My Export” operates. There you can get free expert advice, analytics, help in promoting goods on international marketplaces, as well as take online training and much more.

    Get the latest news quicklyofficial telegram channel the city of Moscow.

    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 –

  • MIL-OSI Russia: Capital products strengthen their position in the global market of healthy food products

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    An important disclaimer is at the bottom of this article.

    Moscow entrepreneurs are strengthening their positions in the global market of healthy food products. With the support of the Moscow Export Center (MEC), protein and fruit bars, muesli, cereals, breads and other capital products are supplied to more than 20 countries, including China, the UAE, India, Brazil and the CIS countries.

    In 2024 and the first half of 2025, the volume of healthy food exports from Moscow supported by the MEC exceeded 1.3 billion rubles.

    “There is a growing demand among consumers for healthy food products. In a highly competitive market, not only the natural composition is important, but also the overall compliance of the product with the expectations of the target audience. The wide geography of Moscow healthy food products exports speaks of the trust of foreign consumers in goods produced in Moscow,” she noted.

    Kristina Kostroma, Head of the Department of Entrepreneurship and Innovative Development of Moscow.

    As part of the implementation of export support programs, the Moscow company Snaksi received the opportunity to enter the international online trading platform 1688.com. As a result of the placement, a contract was concluded for the supply of protein bars and healthy chocolate to China.

    The Melas company took advantage of the support service of a representative of the Moscow Export Center in China, ultimately concluding a contract for the supply of Dr. Körner crispbreads, already well known to Russian consumers, to China.

    SVD-Group successfully presented its products at the Gulfood 2024 international exhibition. The result was a contract for the supply of muesli, crispbread, bran and freeze-dried berries to the UAE.

    As part of the promotion of products of capital exporters with the support of the MEC, Moscow producers of healthy food take part in international festivals and fairs “Made in Russia” in friendly countries. These events are held jointly with the Russian Export Center. Products of Moscow companies were presented at four major fairs in China and the UAE, which were held from November 2024 to May 2025.

    The Moscow Export Center was established by the Moscow Government in 2017 to provide financial and non-financial support measures to Moscow entrepreneurs in order to promote Moscow goods and services on foreign markets. The Moscow Export Center is a subordinate organization Department of Entrepreneurship and Innovative DevelopmentOne of its key tasks is to increase the number of Moscow exporters and grow their export revenue.

    Today, the MEC provides the capital’s business with comprehensive support at all stages of the export route – from preparation and training in foreign economic activity (FEA) to promotion abroad, assistance in increasing sales of financial incentives for FEA after concluding export contracts. Currently, the MEC’s toolkit includes more than 30 support measures.

    Sergei Sobyanin told how Moscow helps the capital’s business develop

    Get the latest news quickly official telegram channel the city of Moscow.

    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 –

  • MIL-Evening Report: President Xi Jinping tells Albanese China ready to ‘push the bilateral relationship further’

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Chinese President Xi Jinping has told Anthony Albanese China stands ready to work with Australia “to push the bilateral relationship further”, in their meeting in Beijing on Tuesday.

    During the meeting, Albanese raised Australia’s concern about China’s lack of proper notice about its warships’ live fire exercise early this year.

    The prime minister later told journalists Xi had responded that “China engaged in exercises, just as Australia engages in exercises”.

    The government’s proposed sale of the lease of the Port of Darwin, now in the hands of a Chinese company, was not raised in the discussion.

    On Taiwan, Albanese said he had “reaffirmed […] the position of Australia in support for the status quo”.

    This was the fourth meeting between Xi and Albanese. The prime minister is on a six-day trip to China, accompanied by a business delegation. He is emphasising expanding trade opportunities with our biggest trading partner and attracting more Chinese tourists, whose numbers are not back to pre-pandemic levels.

    Albanese has come under some domestic criticism because this trip comes before he has been able to secure a meeting with United States President Donald Trump.

    In his opening remarks, while the media were present, Xi said the China-Australia relationship had risen “from the setback and turned around, bringing tangible benefits to the Chinese and Australian peoples”.

    “The most important thing we can learn from this is that a commitment to equal treatment, to seeking common ground while sharing differences, pursuing mutually beneficial cooperation, serves the fundamental interests of our two countries and two peoples.

    “No matter how the international landscape may evolve, we should uphold this overall direction unswervingly,” he said.

    “The Chinese side is ready to work with the Australian side to push the bilateral relationship further and make greater progress so as to bring better benefits to our two peoples.”

    Responding, Albanese noted Xi’s comments “about seeking common ground while sharing differences. That approach has indeed produced very positive benefits for both Australia and for China.

    “The Australian government welcomes progress on cooperation under the China-Australia Free Trade Agreement, which has its 10th anniversary year. As a direct result, trade is now flowing freely to the benefit of both countries and to people and businesses on both sides, and Australia will remain a strong supporter of free and fair trade.”

    Albanese told the media after the meeting his government’s approach to the relationship was “patient, calibrated and deliberate”.

    “Given that one out of four Australian jobs depends on trade and given that China is overwhelmingly by far the largest trading partner that Australia has, it is very much in the interest of Australian jobs, and the Australian economy, to have a positive and constructive relationship with China.

    “Dialogue is how we advance our interests, how we manage our differences, and we guard against misunderstanding.

    “President Xi Jinping and I agreed dialogue must be at the centre of our relationship. We also discussed our economic relationship, which is critical to Australia. We spoke about the potential for new engagement in areas such as decarbonisation”.

    Xi did not bring up China’s complaints about Australia’s foreign investment regime.

    Albanese said he raised the issue of Australian writer Yang Jun, who is incarcerated on allegations of espionage, which are denied.

    Premier Li Qiang was hosting a banquet for Albanese on Tuesday night.

    An editorial in the state-owned China Daily praised the Albanese visit, saying it showed “the Australian side has a clearer judgement and understanding of China than it had under previous Scott Morrison government”.

    “The current momentum in the development of bilateral relations between China and Australia shows that if differences are well managed, the steady development of ties can be guaranteed , even at a time when the political landscape of the world is becoming increasingly uncertain and volatile,” the editorial said.

    Australian journalists had a brush with Chinese security, when they were taking shots of local sights in Beijing. Security guards surrounded them and told them to hand over their footage. The incident was resolved by Australian officials.

    Michelle Grattan 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. President Xi Jinping tells Albanese China ready to ‘push the bilateral relationship further’ – https://theconversation.com/president-xi-jinping-tells-albanese-china-ready-to-push-the-bilateral-relationship-further-261094

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: Upcoming expo in Beijing to foster global supply chain stability, resilience

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

    This photo taken on July 14, 2025 shows the booth of Apple at the digital technology section of the upcoming third China International Supply Chain Expo (CISCE) in Beijing, capital of China. The third China International Supply Chain Expo (CISCE), scheduled on July 16-20 in Beijing, is expected to focus on supply chains of advanced manufacturing, clean energy, smart vehicles, digital technology, healthy life and green agriculture. [Photo/Xinhua]

    China will open the third China International Supply Chain Expo (CISCE) in Beijing on Wednesday, rallying multinational giants including Nvidia, Apple, and Airbus to showcase industrial resilience and cross-border collaboration.

    With 651 enterprises and institutions from 75 countries, regions and international organizations participating –including a notable 15 percent year-on-year increase in U.S. exhibitors — the event signals robust international commitment to stabilizing supply chains.

    Global giants are actively engaging. U.S. tech giant Nvidia is expected to make its debut at the expo, presenting cutting-edge robots featuring Nvidia chips. Airbus will also make its inaugural appearance, bringing its global supply chain collaborators to present the comprehensive ecosystem of the large aircraft industry.

    Nvidia CEO Jensen Huang will attend the opening ceremony of the expo on Wednesday and participate in related activities, according to the China Council for the Promotion of International Trade (CCPIT), the event’s organizer.

    In a meeting on Tuesday with Ren Hongbin, chairman of CCPIT, Huang said that the Chinese market is large and dynamic, and the development of artificial intelligence (AI) in China is advancing rapidly.

    “Multinational companies are realizing that maintaining their position in global supply chains necessitates a strong presence in China,” said Wang Yiwei, director of the Institute of International Affairs at Renmin University of China.

    Unlike traditional trade fairs focusing on goods or services, CISCE pioneers a unique “chain-centric” model that visualizes end-to-end industrial collaboration. In each exhibition hall, upstream, midstream and downstream companies cluster in adjacent booths, visually demonstrating their interdependence and synergy.

    Many companies across the supply chain will set up collaborative displays. For example, Apple is teaming up with Chinese suppliers for the third consecutive year to showcase cutting-edge technologies in smart manufacturing and green production.

    “Multinational corporations serve as anchor companies in global industries, thriving together with upstream and downstream partners worldwide. While advancing their own growth, these corporations strengthen global industrial and supply chain resilience,” Ren said.

    The third CISCE features nearly 100 high-level events, surpassing previous editions in scale and participation, according to Xu Liang, deputy secretary-general of the China Chamber of International Commerce.

    A key innovation for this edition is the “Debut Zone,” dedicated to the global premieres of new products, technologies, and ecosystems, showcasing breakthrough innovations that drive industrial collaboration, Xu noted.

    As the host, China will bring together a diverse group of leading state-owned and private enterprises showcasing the country’s green and digital transition. Among them, Zhejiang-based AI industry chain companies, such as Unitree Robotics, BrainCo, and Hikvision, will participate.

    “Through tangible examples of global supply chains at the expo, China demonstrates its firm resolve to advance globalization towards a more open, inclusive, balanced, and win-win future. It vividly embodies the concept of building a community with a shared future, where nations are interdependent,” Wang said.

    As the world’s first national-level exhibition focusing on supply chains, the expo is an internationally shared public product. First held in 2023, the expo has contributed to building more secure, stable, open and inclusive global industrial and supply chains, according to the CCPIT.

    The previous editions have seen fruitful outcomes, with the 2024 session catalyzing more than 200 cooperation deals worth 152 billion yuan (about 21.26 billion U.S. dollars), a 1.3 percent increase from its inaugural run in 2023.

    The expo will run from Wednesday to Sunday in Beijing, with public days commencing on Saturday.

    MIL OSI China News –

  • MIL-OSI Russia: Shandong Province Delegation Holds Series of Economic Events in Russia

    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) — A delegation from east China’s Shandong Province led by Vice Governor Song Junji visited Russia, organizing a series of trade and economic events to advance cooperation between the two sides to a qualitatively new level.

    According to the information on the website of the Shandong Provincial Government, during the visit to Moscow, the China/Shandong/ – Russia/Moscow/ Trade and Economic Cooperation Forum was held. During the presentation, Song Junji spoke about the drivers of economic development in Shandong Province, the favorable investment climate and promising investment opportunities. Enterprises from the two countries held talks on cooperation in the fields of economics, technology, logistics and energy, reaching a number of agreements on intentions for cooperation.

    At the same time, a thematic exhibition of Shandong Province was organized, where 46 enterprises demonstrated over 100 types of products. The exhibition covered high-tech equipment, consumer goods, products of old brands and objects of intangible cultural heritage, comprehensively reflecting the latest achievements of the province in the development of productive forces of new quality. The Shandong delegation also took part in B2B meetings with Russian companies, reaching agreements on intentions for cooperation in the trade and economic sphere, agriculture and forestry, energy and transport logistics.

    Chairman of the Russian-Asian Union of Industrialists and Entrepreneurs (RASPP) Vitaly Mankevich emphasized that the visit will give a powerful impetus to the development of trade and economic ties between Shandong and Russia, investment and industrial cooperation, as well as scientific and educational exchanges. According to his forecast, trade between Russian regions and Shandong will become a new driver of growth in trade turnover between the two countries. -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 –

  • MIL-OSI Asia-Pac: July 2025 issue of “Hong Kong Monthly Digest of Statistics” now available

    Source: Hong Kong Government special administrative region

    July 2025 issue of “Hong Kong Monthly Digest of Statistics” now available 
         Apart from providing up-to-date statistics, this issue also contains two feature articles entitled “Foreign Affiliates Statistics of Hong Kong” and “The Asset Management Industry in Hong Kong”.
     
    “Foreign Affiliates Statistics of Hong Kong”
     
         With globalisation of the world economy, it is popular for multinational enterprises to provide services to customers in another economy through setting up affiliated companies abroad.
     
         In view of the importance of services supplied via this mode, the C&SD has developed a statistical framework for compiling relevant statistics, known as “foreign affiliates statistics (FATS)”. This feature article briefly describes the statistical system for compiling inward FATS, and presents principal inward FATS of Hong Kong for 2023. It is an update of similar articles on the same subject published in preceding years.
     
         For enquiries about this feature article, please contact the Trade in Services Statistics Section of the C&SD (Tel: 3903 7410; email: tis@censtatd.gov.hk 
    “The Asset Management Industry in Hong Kong”
     
         Hong Kong is one of the most vibrant international financial centres in the world and has strength in managing investments in the Asia Pacific region. The asset management industry has a stable development in Hong Kong in recent years. This feature article presents the operating characteristics and economic contribution of this industry between 2019 and 2023. It also briefly highlights the recent quarterly business performance of this industry.
     
         For enquiries about this feature article, please contact the Business Services Statistics Section of the C&SD (Tel: 3903 7266; email:     business-services@censtatd.gov.hk 
         Published in bilingual form, the HKMDS is a compact volume of official statistics containing about 130 tables. It collects up-to-date statistical series on various aspects of the social and economic situation of Hong Kong. Topics include population; labour; external trade; National Income and Balance of Payments; prices; business performance; energy; housing and property; government accounts, finance and insurance; and transport, communications and tourism. For selected key statistical items, over 20 charts depicting the annual trend in the past decade and quarterly or monthly trend in the recent two years are also available. Users can download the Digest at the website of the C&SD (    www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1010002&scode=460 
         Enquiries about the contents of the Digest can be directed to the Statistical Information Dissemination Section (1) of the C&SD (Tel: 2582 4738; email:     gen-enquiry@censtatd.gov.hkIssued at HKT 16:30

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Volume and price statistics of external merchandise trade in May 2025

    Source: Hong Kong Government special administrative region

    Volume and price statistics of external merchandise trade in May 2025 
    In May 2025, the volume of Hong Kong’s total exports of goods and imports of goods increased by 13.4% and 16.5% respectively over May 2024.
     
    Comparing the first five months of 2025 with the same period in 2024, the volume of Hong Kong’s total exports of goods and imports of goods both increased by 10.4%.
     
    Comparing the three-month period ending May 2025 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods and imports of goods increased by 9.7% and 11.3% respectively.
     
    Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
     
    Comparing May 2025 with May 2024, the prices of total exports of goods and imports of goods increased by 1.8% and 1.9% respectively.
     
    As regards price changes in the first five months of 2025 over the same period in 2024, the prices of total exports of goods and imports of goods increased by 1.9% and 2.0% respectively.
     
    Price changes in external merchandise trade are reflected by changes in unit value indices of external merchandise trade, which are compiled based on average unit values or, for certain commodities, specific price data.
     
    The terms of trade index is derived from the ratio of price index of total exports of goods to that of imports of goods.  Compared with the same periods in 2024, the index decreased by 0.1% in May 2025, whereas it remained virtually unchanged in the first five months of 2025.
     
    Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
     
    Comparing May 2025 with May 2024, increases were recorded for the total export volume to Taiwan (48.0%), Vietnam (39.5%), India (37.6%) and the mainland of China (the Mainland) (15.9%). On the other hand, the total export volume to the USA decreased by 20.7%.
     
    Over the same period of comparison, the total export prices to Taiwan (5.5%), the USA (1.9%), the Mainland (1.4%) and Vietnam (1.2%) increased. On the other hand, the total export prices to India decreased by 2.2%.
     
    Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
     
    Comparing May 2025 with May 2024, increases were recorded for the import volume from Vietnam (70.1%), Taiwan (29.6%), the Mainland (17.1%) and Singapore (12.3%). On the other hand, the import volume from Korea decreased by 10.5%.
     
    Over the same period of comparison, the import prices from Korea (4.5%), Singapore (2.3%), Taiwan (2.3%) and the Mainland (1.2%) increased. On the other hand, the import prices from Vietnam decreased by 0.3%.
     
    Further information
     
    Details of the above statistics are published in the May 2025 issue of “Hong Kong Merchandise Trade Index Numbers”.  Users can browse and download the report at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1020006&scode=230 
    Enquiries on merchandise trade indices may be directed to the Trade Analysis Section of the C&SD (Tel: 2582 4918).
    Issued at HKT 16:30

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    MIL OSI Asia Pacific News –

  • MIL-OSI: Municipality Finance issues a NOK 250 million tap under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    15 July 2025 at 10:00 am (EEST)

    Municipality Finance issues a NOK 250 million tap under its MTN programme

    On 16 July 2025 Municipality Finance Plc issues a new tranche in an amount of NOK 250 million to an existing series of notes issued on 6 June 2025. With the new tranche, the aggregate nominal amount of the notes is NOK 2.250 billion. The maturity date of the notes is 6 January 2031. The notes bears interest at a fixed rate of 4.125 % per annum.

    The new tranche is issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

    MuniFin has applied for the new tranche to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 16 July 2025. The existing notes in the series are admitted to trading on the Helsinki Stock Exchange.

    J.P.Morgan SE acts as the Dealer for the issue of the new tranche.

    MUNICIPALITY FINANCE PLC

    Further information:

    Joakim Holmström
    Executive Vice President, Capital Markets and Sustainability
    tel. +358 50 444 3638

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the State of Finland.
    The Group’s balance sheet is over EUR 53 billion.

    MuniFin builds a better and more sustainable future with its customers. Our customers include municipalities, joint municipal authorities, wellbeing services counties, joint county authorities, corporate entities under the control of the above-mentioned organisations, and affordable social housing. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

    MuniFin’s customers are domestic but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

    Read more: https://www.kuntarahoitus.fi/en/

    Important Information

    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

    This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

    The MIL Network –