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Category: Trade

  • MIL-OSI: D. Boral Capital Served as Co-manager to U.S. Energy Corp. (Nasdaq: USEG) in connection with its up to $12.1 Million Public Offering

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Jan. 27, 2025 (GLOBE NEWSWIRE) — U.S. Energy Corp. (NASDAQ: USEG, “U.S. Energy” or the “Company”) announced today the closing of its previously announced underwritten public offering of 4,871,400 shares of its common stock, which includes 635,400 shares sold pursuant to the exercise in full by the underwriters of their over-allotment option, par value $0.01 per share, at a public offering price of $2.65 per share, for total net proceeds, after underwriting commissions, of approximately $12.1 million.

    U.S. Energy plans to use the net proceeds of the offering to fund growth capital for its industrial gas development project, including new industrial gas wells and processing plant and equipment, and to support upcoming operations. The proceeds received by the Company from the exercise of the over-allotment option may be utilized to purchase shares of common stock from Sage Road Capital, LLC, a related party, or its affiliates at a price equal to the net offering price received by the Company.

    Roth Capital Partners acted as sole book-running manager for the offering. Johnson Rice & Company and D. Boral Capital acted as co-managers for the offering. The Loev Law Firm, PC represented the Company and K&L Gates LLP represented the underwriters in the offering.

    The offering is being made pursuant to a shelf registration statement on Form S-3, including a base prospectus, which was filed with the U.S. Securities and Exchange Commission (the “SEC”) and became effective on September 15, 2022. The prospectus supplement and accompanying base prospectus relating to the offering are available on the SEC’s website at www.sec.gov. Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained by sending a request to: Roth Capital Partners, LLC, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147, email at rothecm@roth.com.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy the shares of common stock or any other securities, nor shall there be any sale of such shares of common stock or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

    ABOUT U.S. ENERGY CORP.

    We are a growth company focused on consolidating high-quality assets in the United States with the potential to optimize production and generate free cash flow through low-risk development while maintaining an attractive shareholder returns program. We are committed to being a leader in reducing our carbon footprint in the areas in which we operate. More information about U.S. Energy Corp. can be found at www.usnrg.com.

    Contact Us:

    D. Boral Capital
    590 Madison Avenue, 39th Floor
    New York, NY 10022
    Main Phone: +1 (212) 970-5150
    www.dboralcapital.com
    info@dboralcapital.com

    FORWARD-LOOKING STATEMENTS

    Certain of the matters discussed in this communication which are not statements of historical fact constitute forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. Words such as “strategy,” “expects,” “continues,” “plans,” “anticipates,” “believes,” “would,” “will,” “estimates,” “intends,” “projects,” “goals,” “targets” and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements. Important factors that may cause actual results and outcomes to differ materially from those contained in such forward-looking statements include, without limitation: (1) the expected use of proceeds, including, but not limited to the repurchase of certain shares of common stock; (2) the ability of the Company to grow and manage growth profitably and retain its key employees; (3) risks associated with the integration of recently acquired assets; (4) the Company’s ability to comply with the terms of its senior credit facilities; (5) the ability of the Company to retain and hire key personnel; (6) the business, economic and political conditions in the markets in which the Company operates; (7) the volatility of oil and natural gas prices; (8) the Company’s success in discovering, estimating, developing and replacing oil, natural gas and helium reserves; (9) risks of the Company’s operations not being profitable or generating sufficient cash flow to meet its obligations; (10) risks relating to the future price of oil, natural gas, NGLs and helium; (11) risks related to the status and availability of oil, natural gas and helium gathering, transportation, and storage facilities; (12) risks related to changes in the legal and regulatory environment governing the oil, gas and helium industry, and new or amended environmental legislation and regulatory initiatives; (13) risks relating to crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; (14) technological advancements; (15) changing economic, regulatory and political environments in the markets in which the Company operates; (16) general domestic and international economic, market and political conditions, including the military conflict between Russia and Ukraine and the global response to such conflict; (17) actions of competitors or regulators; (18) the potential disruption or interruption of the Company’s operations due to war, accidents, political events, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the Company’s control; (19) pandemics, governmental responses thereto, economic downturns and possible recessions caused thereby; (20) inflationary risks and recent changes in inflation and interest rates, and the risks of recessions and economic downturns caused thereby or by efforts to reduce inflation; (21) risks related to military conflicts in oil producing countries; (22) changes in economic conditions; limitations in the availability of, and costs of, supplies, materials, contractors and services that may delay the drilling or completion of wells or make such wells more expensive; (23) the amount and timing of future development costs; (24) the availability and demand for alternative energy sources; (25) regulatory changes, including those related to carbon dioxide and greenhouse gas emissions; (26) uncertainties inherent in estimating quantities of oil, natural gas and helium reserves and projecting future rates of production and timing of development activities; (27) risks relating to the lack of capital available on acceptable terms to finance the Company’s continued growth, potential future sales of debt or equity and dilution caused thereby; (28) the review and evaluation of potential strategic transactions and their impact on stockholder value and the process by which the Company engages in evaluation of strategic transactions; and (29) other risk factors included from time to time in documents U.S. Energy files with the Securities and Exchange Commission, including, but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other important factors that may cause actual results and outcomes to differ materially from those contained in the forward-looking statements included in this communication are described in the Company’s publicly filed reports, including, but not limited to, the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, and future annual reports and quarterly reports. These reports and filings are available at www.sec.gov. Unknown or unpredictable factors also could have material adverse effects on the Company’s future results.

    The MIL Network –

  • MIL-OSI New Zealand: “Something is very wrong in our society and economy” – NZCTU Workforce Survey shows people fear for future

    Source: Council of Trade Unions – CTU

    Insecurity in work, housing, and health among working people has emerged as the key finding from the New Zealand Council of Trade Unions Te Kauae Kaimahi’s 2025 annual Mood of the Workforce survey.

    NZCTU President Richard Wagstaff says the survey, which polled more than 1900 people, shows immense concern that the Government is taking Aotearoa New Zealand in the wrong direction.

    “We’ve been running this survey since 2019, and I have never seen such a negative response. People are in fear for their jobs and their businesses, their ability to keep their homes, and for their health,” said Wagstaff.

    “They also don’t trust this Government to make it better because they are feeling firsthand the damage that’s been done with austerity policies that are only benefiting an already privileged few.

    “The message that the Government has no interest in helping working people, who are the majority of New Zealanders, is coming through strongly in people’s comments on the tax system, the health system, and their work.

    “People are sharing stories of losing their jobs or struggling to cover the work of colleagues who have already lost their jobs. These are heartbreaking to hear. But so are the stories of families being broken up as people’s kids leave the country to find better job prospects, or of parents having to act as a safety net for their adult children. These children have been hit hardest by the recent downturns, and an unfair and unforgiving housing market.

    “A consistent theme is an overwhelming sense that something is very wrong, both in our society and with the economy.

    “We’ve seen that at a statistical level in things like the recent Curia polling which showed people feel we are on the wrong track as a nation, but the results from our workforce survey give a close up and troubling picture of what that means in people’s lives.

    “My great concern is that rather than admit that their policy direction is hurting people and damaging our economy, the Government is doubling down on it in their recent announcements.

    “Whether that’s because of the Government’s arrogance or because they live in a bubble of privilege and don’t understand the damage they are doing is immaterial. People want a change of direction and to see things done a different and better way.

    “Any politician or political party that ignores working people and their communities does so at their peril,” said Wagstaff.

    View the results

    MIL OSI New Zealand News –

  • MIL-OSI USA: Federal Court Orders Lions of Forex and Owner to Pay $685,000 For Foreign Currency Fraud

    Source: US Commodity Futures Trading Commission

    WASHINGTON, D.C. — The Commodity Futures Trading Commission today announced the Southern District of Florida entered orders of default final judgement against Roberto Pulido aka Berto Delvanicci and his company, Lions of Forex LLC, both of Miami, Florida.
    The orders stem from the CFTC’s complaint filed Sept. 28, 2023, charging Pulido with fraudulently soliciting at least four clients to trade leveraged or margined retail off-exchange foreign currency (forex) and charging LOF with aiding and abetting Pulido’s fraudulent scheme [See CFTC Press Release No. 8795-23].
    Under the terms of the orders, the defendants are required to pay, jointly and severally, approximately $172,000 in restitution to defrauded clients and over $516,000 in civil monetary penalties. The court’s decision also permanently enjoins the defendants from engaging in conduct that violates the Commodity Exchange Act, as charged, and permanently bans them from registering with the CFTC and from trading in any CFTC-regulated markets. The orders resolve the CFTC’s lawsuit against both defendants.
    Case Background
    The orders filed Nov. 13, 2024, find from approximately January 2019 to March 2021, Pulido, aided by LOF, fraudulently solicited clients to trade leveraged or margined retail off-exchange forex on their behalf. Several clients subscribed to a retail forex signals trading service LOF offered that would send signals to buy or sell retail forex for a monthly fee, and, for a higher monthly fee, offered live one-on-one training with Pulido. LOF offered this signals trading service through its website which touted Pulido as a “seven-figure trader.” Pulido, in various social media platforms claimed significant profits trading retail forex. After prospective clients were identified through LOF’s signals subscriptions, Pulido made various material misrepresentations and omissions to the clients, including falsely representing they would earn guaranteed monthly profits by having Pulido use his discretion to trade retail forex on their behalf, and clients could withdraw their funds at any time. However, Pulido failed to pay the promised monthly returns and when clients requested their funds, he did not return a significant portion of the clients’ funds.
    The orders also find LOF aided Pulido’s fraud by, among other things, receiving client funds into its own bank accounts; allowing Pulido to use the accounts in connection with his fraudulent scheme; touting Pulido’s supposed trading expertise on the LOF website; and using the LOF email address to communicate with clients whom Pulido defrauded.   
    The CFTC appreciates the assistance of the Florida Office of Financial Regulation, the Eastern Caribbean Securities Regulatory Commission, and the Financial Services Authority of St. Vincent & the Grenadines.
    The Division of Enforcement staff responsible for this action include Elizabeth C. Brennan, David MacGregor, Lenel Hickson, Manal S. Sultan and former staff member Steven I. Ringer.   
    CFTC’s Commodity Fraud Advisory
    The CFTC has issued several customer protection fraud advisories that provide the warning signs of fraud, including the Foreign Currency (Forex) Trading Fraud Advisory, to help customers identify this sort of scam.
    The CFTC strongly urges the public to verify a company’s registration with the Commission at NFA BASIC before committing funds. If unregistered, a customer should be wary of providing funds to that entity
    Suspicious activities or information, such as possible violations of commodity trading laws, should be reported to the Division of Enforcement via a Toll-Free Hotline 866-FON-CFTC (866-366-2382) or file a tip or complaint online or contact the CFTC Whistleblower Office.  Whistleblowers are eligible to receive between 10 and 30 percent of the monetary sanctions collected paid from the CFTC Customer Protection Fund financed through monetary sanctions and paid to the CFTC by violators of the CEA.

    MIL OSI USA News –

  • MIL-OSI Security: Eight Defendants Arrested on Federal Grand Jury Indictment Alleging Large-Scale Smuggling Scheme from China through L.A.-Area Ports

    Source: Office of United States Attorneys

    LOS ANGELES – Federal law enforcement has arrested eight defendants charged in an indictment alleging a conspiracy among logistic companies’ executives, warehouse owners and truck drivers to smuggle hundreds of millions of dollars’ worth of counterfeit and other illegal goods from China into the United States via the Ports of Los Angeles and Long Beach, the Justice Department announced today.

    The 15-count indictment, returned last month and unsealed Friday, charges nine defendants with conspiracy, smuggling and breaking customs seals. The defendants allegedly took containers flagged for off-site secondary inspection, unloaded the contraband, then stuffed the targeted containers with filler cargo to deceive customs officials and evade law enforcement.

    During the investigation into this group, investigators seized more than $130 million in contraband, and the organization is believed to be responsible for smuggling at least $200 million worth of goods. According to the indictment, a search of one warehouse used by the group led to the seizure in June 2024 of $20 million worth of counterfeit items including shoes, perfume, luxury handbags, apparel and watches.

    Seven defendants were arrested Friday, an eighth was taken into custody Saturday evening, and one defendant is a fugitive. The seven arrested last week were arraigned Friday in United States District Court, where each pleaded not guilty to the charges against them. A trial date was scheduled for March 18. The eighth defendant, who was arrested on unrelated state charges, is expected to be arraigned in federal court in the coming days.

    “Secure seaports and borders are critical to our national security,” said Acting United States Attorney Joseph T. McNally. “The smuggling of huge amounts of contraband from China through our nation’s largest port hurts American businesses and consumers. The charges and arrests here demonstrate our commitment to enforce our customs laws and keep the American public safe.”     

    “Homeland Security Investigations (HSI) Los Angeles and its partners are committed to enforcing customs laws and practices, facilitating legitimate trade, and protecting the integrity of the nation’s supply chain,” said HSI Los Angeles Special Agent in Charge Eddy Wang. “The $1.3 billion dollars’ worth of contraband seized during the investigation into this type of scheme illuminates how complex smuggling schemes try to exploit our legitimate trade practices and the American consumer.”

    The 15-count indictment details a conspiracy to coordinate the shipment of large quantities of contraband from China to the United States through the Port of Los Angeles from at least August 2023 to June 2024. The defendants charged are:

    • Weijun Zheng, 57, a.k.a. “Sonic,” of Diamond Bar, the lone fugitive in the case, who controls several logistics companies operating in the Los Angeles area;
    • Hexi Wang, 32, of El Monte, who manages K&P International Logistics LLC, a City of Industry-based company that hires commercial truckers to transport shipping containers from the Port of Los Angeles;
    • Jin “Mark” Liu, 42, of Irvine, the owner of K&P International Logistics LLC and who managed the finances of one of the warehouses where contraband was unloaded and issued payments to truck drivers who transported smuggled goods;
    • Dong “Liam” Lin, 31, of Hacienda Heights, who – along with Zheng – controlled and operated one of the contraband warehouses;
    • Marck Anthony Gomez, 49, of West Covina, the owner and operator of Fannum Trucks LLC, a West Covina-based company that coordinated the movement of shipping containers from the Port of Los Angeles, including large shipments of contraband smuggled into the United States from China;
    • Andy Estuardo Castillo Perez, 32, of Apple Valley, a driver for M4 Transportation Inc., a Carson-based company that transports shipping containers from the Port of Los Angeles;
    • Jesse James Rosales, 41, of Apple Valley, who coordinated truckers from the ports to warehouses;
    • Daniel Acosta Hoffman, 41, of Hacienda Heights, worked with Rosales to bring cargo containers from the Port of Los Angeles to warehouses; and
    • Galvin Biao Liufu, 33, of Ontario, directed and managed truck drivers to bring the contraband into the warehouses.

    According to the indictment, Zheng, Wang, Liu and others maintained and operated warehouses to store, conceal and sell large amounts of contraband goods that were illegally imported into the United States from China. When the contraband containers were selected by U.S. Customs and Border Protection (CBP) for inspection, the defendants hired commercial truck drivers to transport the containers from the Port of Los Angeles to locations that the conspirators controlled, including warehouses in the City of Industry that were controlled or managed by Zheng, Wang and others.

    At these locations, co-conspirators broke the security seals on the shipping containers and removed the contraband from inside. Then, they affixed counterfeit security seals onto the containers to conceal that cargo had been removed from them. Zheng, Wang and others then directed co-conspirators to transport the containers – after they had been emptied of much of their original cargo and re-secured with counterfeit seals – to CBP-authorized locations for the remaining cargo to be presented to customs officials for inspection.

    Zheng, Wang, Liu and others paid fees to co-conspirators, including Gomez and Castillo Perez, that were substantially above normal trucking fees to transport the contraband shipping containers.

    To date, law enforcement has seized more than $1.3 billion worth of counterfeit goods associated with this and similar seal-swapping schemes.

    “It was a team of CBP agriculture specialists assigned to the Los Angeles/Long Beach seaport who in 2023, during a routine examination of a container made the initial discovery,” said Cheryl Davies, U.S. Customs and Border Protection, Director of Field Operations in Los Angeles. “This case attests to their unwavering vigilance, upmost professionalism, and keen focus in protecting the integrity of lawful trade, a key component of our critical national security mission.”

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    If convicted of all charges, the defendants would face a statutory maximum sentence of five years in federal prison for each conspiracy count, up to 10 years in federal prison for each count of breaking customs seals, and up to 20 years in prison for each smuggling count.

    Homeland Security Investigations, U.S. Customs and Border Protection, and Coast Guard Investigative Services are investigating this matter.

    This effort is part of an Organized Crime Drug Enforcement Task Force (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF. 

    Assistant United States Attorneys Colin S. Scott and Amanda B. Elbogen of the Terrorism and Export Crimes Section are prosecuting this matter.

    MIL Security OSI –

  • MIL-OSI United Kingdom: Minister visits Sri Lanka strengthening UK partnership and boosting growth

    Source: United Kingdom – Executive Government & Departments

    Minister for the Indo-Pacific Catherine West visits Sri Lanka with a focus on boosting exports and economic growth.

    • UK Minister for the Indo-Pacific set to meet with new Sri Lankan government minsters as part of the first official visit of new UK government.  
    • Minister will set out plans to strengthen UK-Sri Lanka partnership – from inclusive economic growth, anti-corruption, human rights to national reconciliation.
    • The Minister will welcome new export initiatives set to bolster UK-Sri Lanka trade.

    Inclusive economic growth, anti-corruption, human rights and national reconciliation are on the agenda as Catherine West, Minister for Indo-Pacific will meet President Anura Kumara Dissanayake and other key government ministers.  

    The visit marks the first ministerial visit to Sri Lanka since the formation of new governments in both countries.  

    The Minister will strengthen valuable UK-Sri Lanka trade links, boosting growth for UK and Sri Lankan businesses. She will launch new export procedure handbooks, helping Sri Lankan businesses better access the UK market through the Developing Countries Trading Scheme (DCTS). 

    The Minister will also travel to Jaffna to emphasise the UK’s ongoing support for human rights, reconciliation, climate resilience and minority rights.  

    She will meet with local political leaders and civil society organisations working on post-conflict rehabilitation, as well as visiting the only FCDO-funded climate adaptation project which directly addresses groundwater depletion and its impact on agriculture and local communities.

    Minister for Indo-Pacific, Catherine West said:  

    I am so pleased to make my first official visit to Sri Lanka and meet the new government so soon after they have taken office. I have heard a lot about the country from my UK constituents of Sri Lankan heritage; and I have experienced their warm hospitality.   

    The UK and Sri Lanka share a dynamic modern partnership. I look forward to exploring our potential to grow our relationship through trade, economic growth and education. 

    I believe social and economic development are vital to sustained growth. The UK remains steadfast in our commitment to tackling corruption, supporting human rights progress including long-standing grievances, and taking action on the impacts of climate and nature.

    The Minister will meet the British Council to discuss the growing education partnership as Sri Lanka positions itself as regional hub for transnational education (TNE).  

    UK High Commissioner to Sri Lanka, Andrew Patrick said: 

    Minister Catherine West’s visit marks an important moment – the first meeting of our two new governments. To see the Minister visit so soon after elections underscores the UK government’s commitment to strengthening our bilateral partnership. We’ll see lots of activity in the months ahead, as we work with the government on their agenda of reform.

    The visit highlights the shared ambition of our two governments to deepen collaboration, and address shared challenges such as economic growth, climate change and human rights. 

    Background

    • The minister will meet with Prime Minister Harini Amarasuriya and Foreign Minister Vijitha Herath. 
    • The Developing Countries Trading Scheme cuts tariffs, removes conditions and simplifies trading rules for 65 developing countries.

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Contact the FCDO Communication Team via email (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 27 January 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: IMF Executive Board Concludes 2024 Article IV Consultation with Cambodia

    Source: IMF – News in Russian

    January 27, 2025

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Cambodia.

    Cambodia’s economy has continued to recover, albeit at a modest pace. We project real GDP to grow from 5.5 percent in 2024 to 5.8 percent in 2025 and inflation to pick up from 0.5 percent in 2024 to 2 percent in 2025 and remain contained. However, risks to the outlook are tilted to the downside from both external factors and domestic vulnerabilities, including from policy changes by major trading partners, geoeconomic fragmentation, and continued weakness in the construction and real estate sectors.

    The recovery remains uneven. Real GDP growth is driven mainly by external demand, with a strong rebound in garment exports and high growth in agricultural exports. Tourism has experienced a structural shift in its composition, resulting in a lagged recovery in tourism receipts. Growth in non-tradable sectors remains weak. After a sustained credit expansion that lifted the credit-to-GDP ratio from 24 percent in 2010 to 135 percent in 2023, credit growth has come to a near halt. The construction and real estate sectors are undergoing a correction, with rising non-performing loans and emerging signs of private-sector debt overhang.

    We project the fiscal deficit at 2.4 percent of GDP in 2025, down from 3 percent in 2024, with a gradual fiscal consolidation envisaged in the medium-term fiscal framework. Public debt remains well-contained, staying below 30 percent of GDP over the next decade. The current account balance is projected to swing back to a deficit of 1.8 percent of GDP in 2024 as strong demand for imports outpaces the recovery in exports and tourism. The deficit is projected to increase somewhat in 2025, reaching 2.5 percent of GDP, with export growth expected to moderate. 

    Executive Board Assessment2

    Executive Directors welcomed the continuing recovery of the Cambodian economy, driven by strong growth in garment and agricultural exports, and improving tourism activity. Nonetheless, the recovery has been uneven, and while growth is expected to continue, risks to the outlook are tilted to the downside. Directors underscored the importance of policies to safeguard macro financial stability, ensure a durable and inclusive recovery, and achieve the authorities’ development goals over the medium term.

    Directors supported a neutral fiscal stance in the near term and highlighted the importance of gradual and high-quality consolidation over the medium term underpinned by sound fiscal frameworks to maintain debt sustainability and strengthen economic resilience. They welcomed the recent publication of a medium-term fiscal framework but recommended strengthening it with more conservative and transparent fiscal rules. Directors stressed the need to further mobilize revenues through rationalizing tax exemptions and implementing tax policy reforms, while enhancing spending efficiency and strengthening public investment management, in order to help rebuild fiscal buffers and safeguard priority social and capital spending. Directors welcomed efforts to foster the development of the domestic government bond market as Cambodia’s access to concessional foreign financing will be reduced when it graduates from Least Developed Country status. They also stressed the need for sound management of fiscal risks from state-owned enterprises and public-private partnerships.

    Directors supported the measured pace of monetary policy normalization while maintaining adequate financial system liquidity. They encouraged continuing efforts to modernize the monetary policy framework to enhance policy transmission and support de-dollarization. Noting the ongoing corrections in the construction and real estate sectors, declining FDI inflows, and rising nonperforming loans, Directors encouraged phasing out forbearance measures and developing a comprehensive plan to safeguard financial stability. They recommended strengthening risk-based supervision, improving macroprudential policy, enhancing coordination among financial sector supervisory agencies, and intensifying oversight of the real estate sector.

    Directors highlighted the importance of structural reforms to promote economic diversification and improve competitiveness. They encouraged the authorities’ efforts to enhance human capital, invest in infrastructure, strengthen the business environment, address climate vulnerabilities, and promote renewable energy to attract more diversified FDI. They also underscored the importance of strengthening governance and institutions, improving transparency, enhancing the AML/CFT framework, and addressing data limitations through  capacity development.

    Table 1. Cambodia: Selected Economic Indicators, 2021 – 29 1/

    Per capita GDP (2022, US$): 1,546                   Life expectancy (2019, years): 75.5

    Population (2022, million):    16.7                    Literacy rate (2019, percent):  87.7
     

    2021

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029

    Est.

    Proj.

    Output and prices (annual percent change)

    		                  

    GDP at constant prices

    3.1

    5.1

    5.0

    5.5

    5.8

    6.2

    6.0

    6.0

    6.0

    Inflation (end-year)

    3.7

    2.9

    2.7

    1.5

    2.1

    3.2

    3.0

    3.0

    3.0

    (Annual average)

    2.9

    5.3

    2.1

    0.4

    2.1

    3.2

    3.0

    3.0

    3.0
                       

    Saving and investment balance

    (in percent of GDP)

    		                  

    Gross national saving

    0.8

    15.6

    33.6

    30.7

    30.0

    29.2

    29.2

    29.2

    29.3

    Government saving

    0.3

    3.1

    4.1

    5.1

    6.1

    7.1

    8.1

    9.1

    10.1

    Private saving

    0.5

    12.5

    29.5

    25.6

    23.9

    22.1

    21.1

    20.1

    19.2

    Gross fixed investment

    30.4

    34.6

    32.3

    32.5

    32.5

    32.5

    32.5

    32.5

    32.5

    Government investment

    6.6

    5.6

    5.8

    5.2

    4.5

    4.3

    4.2

    3.9

    3.8

    Private investment

    23.8

    29.0

    26.5

    27.4

    28.0

    28.2

    28.4

    28.6

    28.7
                       

    Money and credit (annual percent change, unless otherwise indicated)

    		                  

    Broad money

    16.4

    8.2

    12.5

    8.5

    7.9

    10.5

    11.3

    9.1

    9.0

    Private sector credit

    23.6

    18.5

    3.5

    4.0

    7.0

    10.0

    10.0

    10.0

    10.0

    Velocity of money 2/

    1.1

    1.0

    1.0

    1.0

    1.0

    1.0

    1.0

    1.0

    1.0
                       

    Public finance (in percent of GDP)

    		                  

    Revenue

    15.8

    18.1

    15.9

    14.9

    14.9

    14.9

    15.0

    15.1

    15.2

    Domestic revenue

    14.7

    16.4

    14.7

    13.7

    13.7

    13.8

    14.0

    14.1

    14.4

    Of which: Tax revenue

    13.2

    14.7

    13.0

    12.1

    12.1

    12.2

    12.3

    12.5

    12.7

    Grants

    1.1

    1.7

    1.2

    1.2

    1.1

    1.1

    1.0

    0.9

    0.8

    Expenditure

    21.0

    18.4

    18.7

    17.9

    17.3

    17.1

    17.1

    17.2

    17.1

    Expense

    14.4

    12.8

    12.9

    12.7

    12.8

    12.8

    13.0

    13.3

    13.4

    Net acquisition of nonfinancial assets

    6.6

    5.6

    5.8

    5.2

    4.5

    4.3

    4.2

    3.9

    3.8

    Net lending (+)/borrowing(-)

    -5.2

    -0.3

    -2.8

    -3.0

    -2.4

    -2.2

    -2.1

    -2.1

    -2.0

    Net lending (+)/borrowing(-) excluding grants

    -6.3

    -2.0

    -4.0

    -4.2

    -3.6

    -3.3

    -3.2

    -3.0

    -2.8

    Net acquisition of financial assets

    -3.6

    1.4

    -0.3

    -0.2

    0.5

    0.3

    0.2

    0.3

    0.4

    Net incurrence of liabilities 3/

    1.6

    1.7

    2.5

    2.8

    2.9

    2.5

    2.4

    2.4

    2.4

    Total public debt (In percent of GDP)

    25.9

    25.0

    25.7

    26.8

    27.8

    27.8

    27.8

    27.7

    27.7

    Balance of payments (in millions of dollars, unless otherwise indicated)

    		                  

    Exports, f.o.b.

    19,527

    23,175

    23,569

    26,745

    28,595

    30,942

    33,449

    36,307

    39,457

       (Annual percent change)

    5.7

    18.7

    1.7

    13.5

    6.9

    8.2

    8.1

    8.5

    8.7

    Imports, f.o.b.

    -30,726

    -31,995

    -26,553

    -31,055

    -33,244

    -35,626

    -38,605

    -41,871

    -45,434

       (Annual percent change)

    46.4

    4.1

    -17.0

    17.0

    7.0

    7.2

    8.4

    8.5

    8.5

    Current account (including official transfers)

    -10,886

    -7,572

    555

    -847

    -1,269

    -1,794

    -1,993

    -2,175

    -2,283

        (In percent of GDP)

    -29.6

    -19.0

    1.3

    -1.8

    -2.5

    -3.3

    -3.3

    -3.4

    -3.2

    Gross official reserves 4/

    20,265

    17,805

    19,998

    20,753

    23,064

    26,887

    30,951

    35,422

    40,351

        (In months of prospective imports)

    7.0

    7.3

    6.9

    6.6

    6.9

    7.4

    7.9

    8.3

    8.7
                       

    Total public debt (in millions of dollars)

    9,505

    9,971

    11,187

    12,473

    13,932

    15,218

    16,508

    17,912

    19,453

    (In percent of GDP)

    25.9

    25.0

    25.7

    26.8

    27.8

    27.8

    27.8

    27.7

    27.7

    External debt (in millions of dollars, unless                                    otherwise indicated)

    		                  

    Public external debt

    9,505

    9,971

    11,187

    12,387

    13,726

    14,939

    16,178

    17,548

    18,978

    (In percent of GDP)

    25.9

    25.0

    25.7

    26.6

    27.4

    27.3

    27.2

    27.1

    27.0

    Public debt service

    397

    427

    449

    418

    439

    458

    482

    506

    533

    (In percent of exports of goods and services)

    2.0

    1.7

    1.6

    1.3

    1.3

    1.2

    1.2

    1.2

    1.1

    Nominal effective exchange rate (index, trade partners by CPI)

    113.3

    122.4

    123.3

    …

    …

    …

    …

    …

    …

    Real effective exchange rate

    (index, based on CPI)

    125.3

    134.0

    132.4

    …

    …

    …

    …

    …

    …

    Memorandum items:

    		                  

    Nominal GDP (in billions of Riels)

    150,793

    164,059

    177,719

    190,603

    205,946

    225,291

    245,726

    267,845

    292,066

    (In millions of U.S. dollars)

    36,797

    39,838

    43,304

    46,568

    50,180

    54,745

    59,548

    64,733

    70,395

    Sources: Cambodian authorities; and IMF staff estimates and projections.

    1/ Based on the rebased GDP.

    		                

    2/ Ratio of nominal GDP to the average stock of broad money.

    		                

    3/ Includes statistical discrepancy.

    		                

    4/ Includes unrestricted foreign currency deposits held at the National Bank of Cambodia.

    		                

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] At the conclusion of the discussion, the Managing Director, as Chair of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summing up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.  

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Alexander Muller

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/01/27/pr-25017-cambodia-imf-executive-board-concludes-2024-article-iv-consultation-with-cambodia

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Hong Kong resident rescued from detention in Southeast Asian country returns to Hong Kong smoothly

    Source: Hong Kong Government special administrative region

    Hong Kong resident rescued from detention in Southeast Asian country returns to Hong Kong smoothly
    Hong Kong resident rescued from detention in Southeast Asian country returns to Hong Kong smoothly
    ******************************************************************************************

         The Security Bureau (SB) today (January 28) said that a Hong Kong resident, who had been detained for illegal work in Myanmar and was recently rescued, has smoothly returned to Hong Kong from Thailand last night (January 27) with members of the SB’s dedicated task force.     The dedicated task force set off for Bangkok on January 21 to follow-up promptly on the case upon confirmation that a Hong Kong resident had been rescued in Myanmar and arrived in Thailand. With the co-ordination and liaison with different units by the task force over the past few days and concerted efforts by various parties, the individual was able to return to Hong Kong in a short period of time and reunite with his family before the Chinese New Year.      The dedicated task force expressed gratitude to the Thai authorities for their humane way of handling the case with the approach of special arrangements for special circumstances by compressing the procedures to within a few days, allowing the Hong Kong resident to return to Hong Kong as soon as possible. While meeting the rescued Hong Kong resident in the detention centre in Bangkok, members of the task force were moved to be able to bring the individual back to Hong Kong and return home together. The Hong Kong resident expressed gratitude for the visit to Thailand by the task force members to follow up on his case. He was also very pleased to learn that he would be able to return to Hong Kong to reunite with his family before the Chinese New Year.      The SB thanked various parties, including the Office of the Commissioner of the Ministry of Foreign Affairs in the Hong Kong Special Administrative Region, the Chinese Embassy in the Republic of the Union of Myanmar, the Chinese Embassy in the Kingdom of Thailand, the Consulate General of the People’s Republic of China in Chiang Mai, the Consulate-General of Myanmar in Hong Kong, the Royal Thai Consulate-General, Hong Kong, the Hong Kong Economic and Trade Office in Bangkok, and the relevant Thai authorities for their support and assistance.     The dedicated task force has all along been following up proactively on the remaining 10 request-for-assistance cases in which the relevant people have not yet returned to Hong Kong, including maintaining communication, exchanging intelligence and sparing no efforts in following up on each case with the Director of Special Investigation and the Director of Human Trafficking under the Ministry of Justice of Thailand during the team’s stay in Thailand. A member of the dedicated task force will stay in Bangkok to strive to do his utmost for the early return of the remaining 10 people to Hong Kong.

     
    Ends/Tuesday, January 28, 2025Issued at HKT 1:29

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: IMF Executive Board Concludes 2024 Article IV Consultation with Cambodia

    Source: International Monetary Fund

    January 27, 2025

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Cambodia.

    Cambodia’s economy has continued to recover, albeit at a modest pace. We project real GDP to grow from 5.5 percent in 2024 to 5.8 percent in 2025 and inflation to pick up from 0.5 percent in 2024 to 2 percent in 2025 and remain contained. However, risks to the outlook are tilted to the downside from both external factors and domestic vulnerabilities, including from policy changes by major trading partners, geoeconomic fragmentation, and continued weakness in the construction and real estate sectors.

    The recovery remains uneven. Real GDP growth is driven mainly by external demand, with a strong rebound in garment exports and high growth in agricultural exports. Tourism has experienced a structural shift in its composition, resulting in a lagged recovery in tourism receipts. Growth in non-tradable sectors remains weak. After a sustained credit expansion that lifted the credit-to-GDP ratio from 24 percent in 2010 to 135 percent in 2023, credit growth has come to a near halt. The construction and real estate sectors are undergoing a correction, with rising non-performing loans and emerging signs of private-sector debt overhang.

    We project the fiscal deficit at 2.4 percent of GDP in 2025, down from 3 percent in 2024, with a gradual fiscal consolidation envisaged in the medium-term fiscal framework. Public debt remains well-contained, staying below 30 percent of GDP over the next decade. The current account balance is projected to swing back to a deficit of 1.8 percent of GDP in 2024 as strong demand for imports outpaces the recovery in exports and tourism. The deficit is projected to increase somewhat in 2025, reaching 2.5 percent of GDP, with export growth expected to moderate. 

    Executive Board Assessment2

    Executive Directors welcomed the continuing recovery of the Cambodian economy, driven by strong growth in garment and agricultural exports, and improving tourism activity. Nonetheless, the recovery has been uneven, and while growth is expected to continue, risks to the outlook are tilted to the downside. Directors underscored the importance of policies to safeguard macro financial stability, ensure a durable and inclusive recovery, and achieve the authorities’ development goals over the medium term.

    Directors supported a neutral fiscal stance in the near term and highlighted the importance of gradual and high-quality consolidation over the medium term underpinned by sound fiscal frameworks to maintain debt sustainability and strengthen economic resilience. They welcomed the recent publication of a medium-term fiscal framework but recommended strengthening it with more conservative and transparent fiscal rules. Directors stressed the need to further mobilize revenues through rationalizing tax exemptions and implementing tax policy reforms, while enhancing spending efficiency and strengthening public investment management, in order to help rebuild fiscal buffers and safeguard priority social and capital spending. Directors welcomed efforts to foster the development of the domestic government bond market as Cambodia’s access to concessional foreign financing will be reduced when it graduates from Least Developed Country status. They also stressed the need for sound management of fiscal risks from state-owned enterprises and public-private partnerships.

    Directors supported the measured pace of monetary policy normalization while maintaining adequate financial system liquidity. They encouraged continuing efforts to modernize the monetary policy framework to enhance policy transmission and support de-dollarization. Noting the ongoing corrections in the construction and real estate sectors, declining FDI inflows, and rising nonperforming loans, Directors encouraged phasing out forbearance measures and developing a comprehensive plan to safeguard financial stability. They recommended strengthening risk-based supervision, improving macroprudential policy, enhancing coordination among financial sector supervisory agencies, and intensifying oversight of the real estate sector.

    Directors highlighted the importance of structural reforms to promote economic diversification and improve competitiveness. They encouraged the authorities’ efforts to enhance human capital, invest in infrastructure, strengthen the business environment, address climate vulnerabilities, and promote renewable energy to attract more diversified FDI. They also underscored the importance of strengthening governance and institutions, improving transparency, enhancing the AML/CFT framework, and addressing data limitations through  capacity development.

    Table 1. Cambodia: Selected Economic Indicators, 2021 – 29 1/

    Per capita GDP (2022, US$): 1,546                   Life expectancy (2019, years): 75.5

    Population (2022, million):    16.7                    Literacy rate (2019, percent):  87.7
     

    2021

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029

    Est.

    Proj.

    Output and prices (annual percent change)

    		                  

    GDP at constant prices

    3.1

    5.1

    5.0

    5.5

    5.8

    6.2

    6.0

    6.0

    6.0

    Inflation (end-year)

    3.7

    2.9

    2.7

    1.5

    2.1

    3.2

    3.0

    3.0

    3.0

    (Annual average)

    2.9

    5.3

    2.1

    0.4

    2.1

    3.2

    3.0

    3.0

    3.0
                       

    Saving and investment balance

    (in percent of GDP)

    		                  

    Gross national saving

    0.8

    15.6

    33.6

    30.7

    30.0

    29.2

    29.2

    29.2

    29.3

    Government saving

    0.3

    3.1

    4.1

    5.1

    6.1

    7.1

    8.1

    9.1

    10.1

    Private saving

    0.5

    12.5

    29.5

    25.6

    23.9

    22.1

    21.1

    20.1

    19.2

    Gross fixed investment

    30.4

    34.6

    32.3

    32.5

    32.5

    32.5

    32.5

    32.5

    32.5

    Government investment

    6.6

    5.6

    5.8

    5.2

    4.5

    4.3

    4.2

    3.9

    3.8

    Private investment

    23.8

    29.0

    26.5

    27.4

    28.0

    28.2

    28.4

    28.6

    28.7
                       

    Money and credit (annual percent change, unless otherwise indicated)

    		                  

    Broad money

    16.4

    8.2

    12.5

    8.5

    7.9

    10.5

    11.3

    9.1

    9.0

    Private sector credit

    23.6

    18.5

    3.5

    4.0

    7.0

    10.0

    10.0

    10.0

    10.0

    Velocity of money 2/

    1.1

    1.0

    1.0

    1.0

    1.0

    1.0

    1.0

    1.0

    1.0
                       

    Public finance (in percent of GDP)

    		                  

    Revenue

    15.8

    18.1

    15.9

    14.9

    14.9

    14.9

    15.0

    15.1

    15.2

    Domestic revenue

    14.7

    16.4

    14.7

    13.7

    13.7

    13.8

    14.0

    14.1

    14.4

    Of which: Tax revenue

    13.2

    14.7

    13.0

    12.1

    12.1

    12.2

    12.3

    12.5

    12.7

    Grants

    1.1

    1.7

    1.2

    1.2

    1.1

    1.1

    1.0

    0.9

    0.8

    Expenditure

    21.0

    18.4

    18.7

    17.9

    17.3

    17.1

    17.1

    17.2

    17.1

    Expense

    14.4

    12.8

    12.9

    12.7

    12.8

    12.8

    13.0

    13.3

    13.4

    Net acquisition of nonfinancial assets

    6.6

    5.6

    5.8

    5.2

    4.5

    4.3

    4.2

    3.9

    3.8

    Net lending (+)/borrowing(-)

    -5.2

    -0.3

    -2.8

    -3.0

    -2.4

    -2.2

    -2.1

    -2.1

    -2.0

    Net lending (+)/borrowing(-) excluding grants

    -6.3

    -2.0

    -4.0

    -4.2

    -3.6

    -3.3

    -3.2

    -3.0

    -2.8

    Net acquisition of financial assets

    -3.6

    1.4

    -0.3

    -0.2

    0.5

    0.3

    0.2

    0.3

    0.4

    Net incurrence of liabilities 3/

    1.6

    1.7

    2.5

    2.8

    2.9

    2.5

    2.4

    2.4

    2.4

    Total public debt (In percent of GDP)

    25.9

    25.0

    25.7

    26.8

    27.8

    27.8

    27.8

    27.7

    27.7

    Balance of payments (in millions of dollars, unless otherwise indicated)

    		                  

    Exports, f.o.b.

    19,527

    23,175

    23,569

    26,745

    28,595

    30,942

    33,449

    36,307

    39,457

       (Annual percent change)

    5.7

    18.7

    1.7

    13.5

    6.9

    8.2

    8.1

    8.5

    8.7

    Imports, f.o.b.

    -30,726

    -31,995

    -26,553

    -31,055

    -33,244

    -35,626

    -38,605

    -41,871

    -45,434

       (Annual percent change)

    46.4

    4.1

    -17.0

    17.0

    7.0

    7.2

    8.4

    8.5

    8.5

    Current account (including official transfers)

    -10,886

    -7,572

    555

    -847

    -1,269

    -1,794

    -1,993

    -2,175

    -2,283

        (In percent of GDP)

    -29.6

    -19.0

    1.3

    -1.8

    -2.5

    -3.3

    -3.3

    -3.4

    -3.2

    Gross official reserves 4/

    20,265

    17,805

    19,998

    20,753

    23,064

    26,887

    30,951

    35,422

    40,351

        (In months of prospective imports)

    7.0

    7.3

    6.9

    6.6

    6.9

    7.4

    7.9

    8.3

    8.7
                       

    Total public debt (in millions of dollars)

    9,505

    9,971

    11,187

    12,473

    13,932

    15,218

    16,508

    17,912

    19,453

    (In percent of GDP)

    25.9

    25.0

    25.7

    26.8

    27.8

    27.8

    27.8

    27.7

    27.7

    External debt (in millions of dollars, unless                                    otherwise indicated)

    		                  

    Public external debt

    9,505

    9,971

    11,187

    12,387

    13,726

    14,939

    16,178

    17,548

    18,978

    (In percent of GDP)

    25.9

    25.0

    25.7

    26.6

    27.4

    27.3

    27.2

    27.1

    27.0

    Public debt service

    397

    427

    449

    418

    439

    458

    482

    506

    533

    (In percent of exports of goods and services)

    2.0

    1.7

    1.6

    1.3

    1.3

    1.2

    1.2

    1.2

    1.1

    Nominal effective exchange rate (index, trade partners by CPI)

    113.3

    122.4

    123.3

    …

    …

    …

    …

    …

    …

    Real effective exchange rate

    (index, based on CPI)

    125.3

    134.0

    132.4

    …

    …

    …

    …

    …

    …

    Memorandum items:

    		                  

    Nominal GDP (in billions of Riels)

    150,793

    164,059

    177,719

    190,603

    205,946

    225,291

    245,726

    267,845

    292,066

    (In millions of U.S. dollars)

    36,797

    39,838

    43,304

    46,568

    50,180

    54,745

    59,548

    64,733

    70,395

    Sources: Cambodian authorities; and IMF staff estimates and projections.

    1/ Based on the rebased GDP.

    		                

    2/ Ratio of nominal GDP to the average stock of broad money.

    		                

    3/ Includes statistical discrepancy.

    		                

    4/ Includes unrestricted foreign currency deposits held at the National Bank of Cambodia.

    		                

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] At the conclusion of the discussion, the Managing Director, as Chair of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summing up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.  

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Alexander Muller

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    MIL OSI Economics –

  • MIL-OSI USA: Acting Chairman Pham to Launch Public Roundtables on Innovation and Market Structure

    Source: US Commodity Futures Trading Commission

    WASHINGTON, D.C. — Commodity Futures Trading Commission Acting Chairman Caroline D. Pham is launching a series of public roundtables on evolving trends and innovation in market structure, including issues such as affiliated entities and conflicts of interest, prediction markets, and digital assets. Pham renewed calls for open public engagement and increased transparency by the CFTC on its policy approach to changes in derivatives markets last year. 
    “As I have long said, the CFTC must take a forward-looking approach to shifts in market structure to ensure our markets remain vibrant and resilient while protecting all participants,” Pham said. “Innovation and new technology has created a renaissance in markets that presents new opportunities that are accessible to more people, as well as risks. The CFTC will get back to basics by hosting staff roundtables that will develop a robust administrative record with studies, data, expert reports, and public input. A holistic approach to evolving market trends will help to establish clear rules of the road and safeguards that will promote U.S. economic growth and American competitiveness.”
    Over the next several months, the CFTC will engage with industry leaders, market participants, other market structure experts, and public interest groups through open and transparent public roundtables to provide the CFTC with the best information and latest data. Details about the series will be provided as they become available.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: New £2m project to save UK from food shortages

    Source: Anglia Ruskin University

    Anglia Ruskin University (ARU) is leading a new £2 million initiative to help prevent food shortages that could potentially trigger civil unrest in the UK.

    The project, called Backcasting to Increase Food System Resilience in the UK, is being led by experts from Anglia Ruskin’s Global Sustainability Institute and has received £2,048,461 in funding from the Biotechnology and Biological Sciences Research Council, part of UK Research and Innovation (UKRI).

    Building on recent research that found that over 40% of food experts believe widespread civil unrest linked to food shortages, such as demonstrations and violent looting, is possible or likely in the UK within the next 10 years, the new project aims to urgently address vulnerabilities in the nation’s food supply.

    The UK’s food system is currently optimised for efficiency rather than resilience, relying heavily on imports, seasonal labour, and just-in-time supply chains.

    This makes it particularly susceptible to disruptions that could lead to a collapse, defined as a situation where the public lack access to affordable food, resulting in economic productivity losses, disease outbreaks, extreme hunger, malnutrition, or civil unrest.

    Potential causes of such a collapse include geopolitical instability and conflict around the world, pandemics, extreme weather events exacerbated by climate change, and trade tariffs.

    The project aims to identify and find ways of mitigating the potential tipping points that could lead to a collapse and prioritise the areas within the UK food system that urgently need to strengthen their resilience to likely risks and shocks.

    To achieve these goals, the researchers will work closely with key stakeholders including food producers, importers, distributers and retailers.

    A “backcasting” mapping exercise will be carried out to identify the most likely pathways leading to civil unrest with a focus on addressing problems at the early stages of these pathways, well before any unrest arises.

    Anglia Ruskin University is leading the project in partnership with experts from the University of York, the London School of Hygiene & Tropical Medicine, the University of the West of England and the Royal Agricultural University.

    Other partners include WTW, the Food Farming & Countryside Commission, the Food Ethics Council, WRAP, DEFRA, Trussell, Sustain, Better Food Traders, Samworth Brothers, the Food Standards Agency, the Institute of Grocery Distributors and WWF.

    “The Backcasting to Increase Food System Resilience in the UK project is a major investment into understanding how future shocks could significantly impact the UK food system and how we can build resilience to these.

    “The food system is exposed to various risks from climate change and biodiversity loss to geopolitical events, such as wars or cyberterrorism. Supporting the UK’s food system stakeholders from farmers through to retail, by working with them to build on their knowledge to deliver a transformation towards resilience, is vital.

    “The project will also involve placements inside organisations focusing on food system challenges, to better understand the interventions that may be possible, and allow wider lessons to be captured and shared. These placements will be open to PhDs from across the UK and will be announced in 2026.”

    Professor Aled Jones, Director of the Global Sustainability Institute at Anglia Ruskin University (ARU)

    MIL OSI United Kingdom –

  • MIL-OSI: BexBack Unveils Double Deposit Bonus, $50 Welcome Bonus, and 100x Leverage Crypto Trading with No KYC

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Jan. 27, 2025 (GLOBE NEWSWIRE) — As Bitcoin hovers around the $100,000 mark, analysts predict prolonged market volatility, making cryptocurrency derivatives trading the preferred choice for traders seeking to profit from both upward and downward trends. To empower traders and maximize their potential, BexBack Exchange has introduced an exclusive package featuring a 100% deposit bonus, a $50 welcome bonus for new users, and 100x leverage for cryptocurrency trading—all with a No KYC policy, ensuring privacy and seamless trading.

    How Does 100x Leverage Work?

    100x leverage enables traders to control larger positions with minimal capital investment. For example:

    • Suppose Bitcoin is priced at $100,000, and you open a long contract with 1 BTC. Using 100x leverage, you control a position worth 100 BTC.
    • If the price rises to $105,000, your profit will be:
      (105,000−100,000)×100BTC÷100,000=5BTC That’s a 500% return on your initial investment.

    With BexBack’s 100% deposit bonus, your trading power doubles, giving you the ability to amplify profits even further.

    How the 100% Deposit Bonus Works

    BexBack’s deposit bonus is designed to boost your trading potential. While it cannot be withdrawn directly, the bonus:

    1. Increases Margin Capacity – Use the bonus to open larger positions and enhance your profit potential.
    2. Provides Risk Protection – During significant market fluctuations, the bonus serves as extra margin, reducing liquidation risks.

    For example, depositing 1 BTC unlocks an additional 1 BTC in bonus funds, doubling your margin.

    Why Choose BexBack?

    • No KYC Required: Trade with just an email address—simple and private.
    • 100% Deposit Bonus: Double your trading funds instantly.
    • $50 Welcome Bonus: Earn $50 after completing your first trade.
    • High Leverage: Up to 100x leverage to maximize capital efficiency.
    • Demo Account: Practice risk-free with 10 BTC in virtual funds.
    • Transparent Fees: No slippage, no spreads, and clear fee structures.
    • 24/7 Global Support: Dedicated multilingual customer service anytime, anywhere.
    • Affiliate Rewards: Earn up to 50% commission with no limits on duration or earnings.

    About BexBack

    BexBack is a premier cryptocurrency derivatives platform offering 100x leverage on BTC, ETH, ADA, SOL, and XRP futures contracts. Headquartered in Singapore with offices in Hong Kong, Japan, the United States, the United Kingdom, and Argentina, BexBack operates under a US MSB (Money Services Business) license. The platform is trusted by over 200,000 traders worldwide, including users in the US, Canada, and Europe.

    Don’t Miss Out—Start Trading Today!

    If you’re looking to capitalize on Bitcoin’s historic price levels and market volatility, BexBack is the platform for you. With 100x leverage, unbeatable bonuses, and a focus on privacy, BexBack sets you up for success in the dynamic world of cryptocurrency trading.

    Sign up now to claim your exclusive bonuses and start building your crypto portfolio.

    Website: www.bexback.com

    Contact: business@bexback.com

    Contact:
    Amanda
    business@bexback.com

    Disclaimer: This content is provided by BexBack. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/ed72ce34-c448-429b-baf5-afdbccee1640

    https://www.globenewswire.com/NewsRoom/AttachmentNg/b63bbbd5-050a-4972-9308-fa38c4b98ca8

    https://www.globenewswire.com/NewsRoom/AttachmentNg/8fe9b4af-bef7-450b-8933-9d7096274920

    https://www.globenewswire.com/NewsRoom/AttachmentNg/a1ccb133-7ea0-4960-a4b2-f127cce10ea8

    https://www.globenewswire.com/NewsRoom/AttachmentNg/9778b6a3-46d2-49b8-a574-adb73a41cd4f

    The MIL Network –

  • MIL-OSI: Devvio Inc. Grants Exclusive Global License for Groundbreaking Exchange Technology to DevvDigital Inc

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, Jan. 27, 2025 (GLOBE NEWSWIRE) — DevvDigital Inc. is proud to announce it has been granted an exclusive global license from Devvio Inc, for its next-generation exchange technology, allowing for the operation of DevvExchange—a revolutionary digital asset exchange platform that sets new benchmarks for security, speed, and compliance. DevvExchange will allow customers to trade digital assets while maintaining full control of their assets throughout exchange transactions. Further, high-speed and cost-effective exchange transactions settle mathematically instantaneously, solving one of the biggest problems across all types of exchanges today.

    The key invention for the new exchange approach is Devvio’s patent pending Contingent Transaction Set (CTS) technology, which allows blockchain transactions to be grouped together and directly validated on the DevvX blockchain by its validators. Transactions in a CTS are each approved if and only if all criteria for the transactions are individually met. Then, when a group of exchange transactions is validated, all transactions occur at the same mathematical instant, thereby exchanging assets instantaneously with no middlemen or settlement risk.

    This strategic collaboration positions DevvExchange as the premier destination for institutional and retail traders alike, leveraging Devvio’s cutting-edge DevvX blockchain, which boasts unparalleled capabilities such as infinite scalability, unparalleled throughput, architectural flexibility, ease of integration through a RESTful API, and best-in-class cost-effectiveness.

    A New Era for Digital Asset Trading

    With the exclusive license in place, DevvDigital is uniquely empowered to drive the global rollout of this powerful new exchange architecture, transforming the trading experience by eliminating the inefficiencies and risks that plague traditional exchanges. Key features include:

    • Non-Custodial Architecture: Users retain full control of their assets at all times, enhancing security and eliminating settlement risks. Middlemen, and their related costs and delays, are removed. This approach removes the risks that the FTX exchange infamously demonstrated.
    • Instant T+0 Settlement: Trades are settled instantaneously, removing counterparty risks. Transactions are validated directly by validators on the DevvX blockchain rather than through smart contract implementations, which provides for fast, inexpensive trades.
    • Regulatory First: Built to meet and exceed the strictest compliance standards in key jurisdictions, DevvExchange will provide users with unmatched peace of mind. For the first time, a regulatory compliant digital-asset exchange will allow for trades where users’ assets are not held by the exchange itself.

    “I have no doubt that global asset exchanges of the future will be implemented as we, for the first time, now allow– mathematically instantaneous exchange with no middlemen,” said Tom Anderson, CEO of Devvio Inc. “That is a big statement, but it should be intuitively clear. If any two parties can exchange assets immediately and inexpensively, with no counterparty risk and full control of their assets throughout a trade, it is a dramatic improvement over both TradFi and Crypto exchanges that exist today. This is the future of exchanges, and our goal is to become the new gold standard in the space.”

    About Devvio Inc.

    Devvio Inc. is a global pioneer in blockchain technology, renowned for its scalable, sustainable, and secure solutions. Its DevvX blockchain has been recognized as one of the most advanced infrastructures in the industry, changing the way that blockchain is integrated in all aspects of business.

    About DevvDigital

    DevvDigital is a forward-thinking digital solutions provider dedicated to leveraging blockchain technology for real-world impact. As the exclusive operator of DevvExchange, DevvDigital is committed to transforming the way people interact with digital assets, prioritizing user empowerment, security, and innovation.

    This press release contains forward-looking statements, including but not limited to statements regarding the anticipated benefits and future operations of DevvExchange under the license agreement with Devvio. These statements are based on current expectations, projections, and assumptions and are subject to risks and uncertainties that could cause actual outcomes to differ materially. Factors that may cause such differences include, but are not limited to, market conditions, regulatory changes, technological developments, and other unknown risks. DevvDigital assumes no obligation to update or revise forward-looking statements to reflect new information, events, or circumstances, except as required by law.

    Media Contact
    Davin Broadbent
    CMO DevvDigital
    DevvDigital@devvio.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c0ab1613-fc16-44f6-82da-3e6e82297f4b

    The MIL Network –

  • MIL-OSI: Hola Prime Enhances Global Access with Visa Card and New London Office

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, NY, Jan. 27, 2025 (GLOBE NEWSWIRE) — Hola Prime, a leading name in the prop trading industry, has taken another leap in empowering traders by launching the Hola Prime Visa Card. Designed to streamline access to earnings, this innovative solution ensures that traders can effortlessly manage their payouts whenever and wherever they need.

    With the new Visa Card, Hola Prime addresses a major pain point for traders – delayed or complicated payout processes. This card provides instant access to funds, allowing traders to seamlessly handle their earnings through online transactions, in-store purchases, and ATM withdrawals worldwide.

    A New Standard in Trader Accessibility

    Instant Payouts: Traders can access their earnings immediately without relying on lengthy bank transfers.

    Global Usability: Whether online shopping, dining out, or withdrawing cash, the Visa Card works everywhere Visa is accepted.

    Enhanced Security: Transactions are safeguarded with 3D Secure technology, providing traders with peace of mind.

    Flexible Payments: From contactless payments to POS systems and ATM cash withdrawals, this card caters to all needs.

    “Traders can directly receive their payouts on the Hola Prime Visa Card and use them however they like – whether for online purchases, in-store transactions, or ATM withdrawals. These cards now serve as a standard payout withdrawal method for traders,” said CFO, Ms. Sumedha Sharma.

    “We already offer one-hour payouts, and this Visa Card takes convenience to the next level, providing traders with the freedom and flexibility they deserve anytime, anywhere” she added.

    Global Expansion: Hola Prime Opens Office in London

    In a strategic move to expand its global footprint, Hola Prime has inaugurated a new office in London, one of the world’s leading financial hubs. This milestone underlines the firm’s vision of empowering traders globally while ensuring top-notch support for its European clientele.

    The London office will enable Hola Prime to serve traders in the region with greater efficiency, offering localized solutions and bolstering its reputation as a global leader in prop trading.

    “London is a pivotal market for finance and trading. Establishing our presence here allows us to engage closely with traders and cater to their unique needs in a dynamic and international environment,” said Ms. Sharma.

    A Vision for Innovation and Empowerment

    Hola Prime’s dual initiatives – the Visa Card and its London expansion – demonstrate its unwavering focus on innovation and trader-centric solutions. From simplifying financial management to enhancing global accessibility, the company is setting benchmarks that resonate with modern traders.

    As Hola Prime continues to break new ground, its dedication to fostering a transparent, accessible, and empowering trading ecosystem remains its defining ethos.

    About Hola Prime

    Hola Prime is a leading global proprietary trading firm with a strong presence in the UK, Hong Kong, Cyprus, Dubai, and India. Renowned for its commitment to transparency, Hola Prime serves prop traders across 175+ countries, offering access to over 50 trading instruments. The firm is dedicated to empowering traders with real-time risk management, advanced technological infrastructure, and a secure trading environment. Committed to fairness and trust, Hola Prime ensures seamless payouts, robust compliance, and a reliable trading experience. With multiple trading platforms and a focus on bringing freshness to the prop trading industry, Hola Prime is redefining the future of trading.

    Social Links

    Facebook: https://fb.com/profile.php?id=61565158992654&sk=about_contact_and_basic_info

    Instagram: https://www.instagram.com/holaprime_global/

    YouTube: https://www.youtube.com/channel/UCtVEJa1Ml132Be7tnk-DjeQ

    LinkedIn: https://www.linkedin.com/company/hola-prime/?viewAsMember=true

    Twitter: https://x.com/HolaPrimeGlobal

    Discord: https://discord.gg/TJ7TcHPXBf

    Quora: https://www.quora.com/profile/HolaPrime/

    Reddit: https://www.reddit.com/user/HolaPrime/

    Medium: https://medium.com/@social_46267

    Media Contact

    Company: Hola Prime

    Contact: Media Team

    Email: marketing@holaprime.com

    Website: https://holaprime.com/

    SOURCE: Hola Prime

    The MIL Network –

  • MIL-OSI Global: How does raw water compare to tap water? A microbiologist explains why the risks outweigh the benefits

    Source: The Conversation – USA – By Bill Sullivan, Professor of Microbiology and Immunology, Indiana University

    Water that comes straight from natural sources, dubbed “raw water,” is gaining popularity. Raw water advocates reject public water supplies, including tap water, because they don’t enjoy the taste or believe it’s unsafe and depleted of vital minerals.

    On the surface, raw water might seem alluring – the natural surroundings may look beautiful, and the water may look clean and taste refreshing. But unlike tap or commercially bottled water, raw water is not evaluated for safety. This leaves the people who drink it vulnerable to infectious microbes or potentially other toxic contaminants.

    I’m a microbiology researcher studying infectious diseases. From a public health perspective, clarifying misconceptions about tap water and the health hazards of raw water can protect consumers and curtail the spread of infectious diseases.

    A short history of public drinking water

    Archaeological evidence suggests that humans have long associated dirty water with negative health outcomes. As early as 1500 BCE, ancient Egyptians added a binding agent to their water to clump contaminants together for easy removal.

    Two major developments in the mid-1800s showed why impure water is dangerous. First, physician John Snow traced a deadly cholera outbreak to contaminated water from London’s Broad Street pump. Second, Louis Pasteur advanced the germ theory of disease, which postulated that microbes can cause illness. Pasteur established that consumable liquids like raw water and milk can harbor disease-causing pathogens.

    Physician John Snow’s 1854 map of cholera cases in London, highlighted in black, clustered around a contaminated pump.
    John Snow/Wellcome Collection

    These discoveries paved the way for large-scale infrastructure projects in the 20th century to ensure the public water supply is safe.

    Today, the process of cleaning water begins with the same steps employed by the ancient Egyptians, followed by extensive filtration to get rid of debris as well as most germs and chemicals. Chlorine is added to kill lingering pathogens, including those that may reside in the service pipes carrying the water to the faucet. Beginning in the 1940s, a small amount of fluoride was added as an inexpensive, safe and effective means to improve dental health.

    The cleanliness and fluoridation of the water supply has dramatically reduced infectious disease and cavities, and has been heralded as one of the 20th century’s greatest public health achievements.

    Is raw water healthier than tap water?

    People who champion raw water claim it has health benefits, such as essential minerals and beneficial bacteria called probiotics, that are stripped from tap water. Let’s unpack each of these claims.

    Water dissolves bits of soil and rock at its source; therefore, its mineral content depends on the local geology. Areas with a lot of limestone, like the Midwest, have water that is higher in calcium. Water from deeper in the ground may have higher mineral content since it passes through more rock on its way to the surface.

    The mineral content of water largely depends on its source and location.
    Sergii Zyskо/iStock via Getty Images Plus

    The idea that tap water is depleted of essential minerals is not true, as these nutrients are too small to be excluded by the filtration process. Test kits can determine the mineral content of your water, and if you find it lacking, mineral supplements can be added. Experts suggest, however, that most minerals you need come from your diet, not water.

    Some also claim that raw water contains probiotics that are removed from tap water. The amount of probiotics in water would also vary by location, and the notion that health-promoting bacteria reside in raw water has not been proved.

    There are no studies associating raw water with any health benefit. Anecdotal claims about smoother skin or increased energy are likely to be placebo effects. Even the idea that raw water tastes better might be more psychological than physiological – a 2018 study showed that most people preferred tap water over bottled water in a blind taste test.

    Risks of drinking raw water

    Raw water carries the risk of serious gastrointestinal infection from a wide variety of pathogens.

    Water-borne viruses include rotavirus and norovirus, which cause rapid-onset diarrhea and vomiting, and hepatitis A, which infects the liver. Bacteria such as E. coli and Salmonella, or parasites like Cryptosporidium and Giardia, also cause severe diarrhea that can lead to dangerous levels of dehydration. Toxoplasma gondii can also lurk in raw water and can cause miscarriage or birth defects if consumed during pregnancy.

    Tap water undergoes several treatment steps before it reaches your faucet.
    CDC

    Carriers of diarrheal infections can transmit them to others if they swim in public pools or fail to properly wash their hands before touching others or preparing food. Norovirus is particularly durable and can survive on surfaces for days, increasing chances of it infecting someone else.

    Raw water can also contain algae that release toxins causing abdominal issues and damage to the brain and nervous system.

    Cholera, dysentery and typhoid fever are no longer health burdens in the U.S. thanks to a robust water treatment system. But areas of the world lacking this privilege suffer high child mortality and widespread diarrheal diseases.

    How safe is tap water in the US?

    Tap water in the U.S. is among the safest to drink in the world. The Biden administration took steps to further improve it, including funding to replace lead pipes and new rules to monitor forever chemicals like perfluoroalkyl and polyfluoroalkyl substances, or PFAS, which have been linked to cancer and developmental disorders.

    Importantly, raw water is not necessarily free from lead, arsenic, pesticides or industrial contaminants. Raw water sources are not reliably monitored by experts, so it is difficult to say which ones pose less risk. In addition, the water may be acceptably safe one day, but not on another. For example, soil runoff from a storm could introduce new germs or pollutants into the area.

    The Environmental Protection Agency routinely screens for nearly 100 contaminants to ensure tap water is safe. In contrast, raw water remains untested, unregulated and untreated, leaving its safety to drink in question. In terms of risks and benefits, there are no demonstrated health benefits from drinking raw water, but clear evidence that you may be exposing yourself to harmful infectious and toxic contaminants.

    Bill Sullivan receives funding from the National Institutes of Health.

    – ref. How does raw water compare to tap water? A microbiologist explains why the risks outweigh the benefits – https://theconversation.com/how-does-raw-water-compare-to-tap-water-a-microbiologist-explains-why-the-risks-outweigh-the-benefits-246866

    MIL OSI – Global Reports –

  • MIL-OSI USA: Warren, McGovern, Lawmakers Blast Trump’s Inaction on High Egg Prices

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    January 27, 2025
    Lawmakers lay out six executive actions that could lower costs.
    “We urge you to make good on your campaign promise to lower food prices for American families.”
    Text of Letter (PDF)
    Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.) and Representative Jim McGovern (D-Mass.) led 19 of their colleagues, writing to President Donald Trump, pushing him to take meaningful steps to lower the prices of eggs and other groceries—a problem he largely ignored during his entire first week in office. 
    During his campaign for president, Mr. Trump repeatedly promised he would lower food prices “immediately” if elected. Trump even told the press, “I won on groceries.” But during his first week, he instead focused on attempting to end birthright citizenship, firing inspectors general, and pardoning January 6 attackers, including those who assaulted Capitol police officers. 
    “Your sole action on costs was an executive order that contained only the barest mention of food prices and not a single specific policy to reduce them,” wrote the lawmakers. “You have tools you can use to lower grocery costs and crack down on corporate profiteering, and we write to ask if you will commit to using those tools to make good on your promises to the American people.”
    “To make food more affordable, you should look to the dominant food and grocery companies that have made record profits on the backs of working families who have had to pay higher prices,” continued the lawmakers. 
    For example, last year a Kroger executive admitted in federal court that the company raised the price of eggs and milk “significantly higher than the cost of inflation” in the years following the COVID-19 pandemic. In 2023, a federal court found that the country’s largest egg producers had engaged in a price-fixing conspiracy in the mid-2000s as well. Now, egg producers and grocery stores may leverage the current avian flu outbreak as an opportunity to further constrain supply or hike up egg prices to increase profits.
    “If you are indeed committed to lowering food prices, we stand ready to work with you,” wrote the lawmakers. 
    The lawmakers laid out six recommendations for executive actions to lower prices by encouraging competition and fighting price-gouging at each level of the food supply chain:
    Encourage the Federal Trade Commission (FTC) and U.S. Department of Agriculture (USDA) to prohibit exclusionary contracting by dominant firms in the food industry, making it harder for major retailers and food brands to shut out smaller suppliers and drive up prices at smaller stores.
    Encourage the FTC to issue guidance on potential violations of the Robinson Patman Act and Section 5 of the FTC Act within the food industry and take enforcement action where merited. 
    Work with the USDA to increase the number of government contract recipients that are very small businesses and to ensure that government contracting considers the long-term costs of food sector consolidation. 
    Help the Department of Justice (DOJ) and FTC scrutinize, and where appropriate, block mergers and acquisitions in the food and agricultural sectors.
    Encourage the DOJ to prosecute actors in the agricultural and food sectors for price-fixing and other anticompetitive behavior.
    Direct the Commodity Futures Trading Commission (CFTC) and FTC to form a joint task force to investigate food price manipulation throughout the supply chain. 
    “Americans are looking to you to lower food prices. Instead of working to lower their grocery bills, however, you have used the first week of your administration on attempting to end birthright citizenship, pardoning individuals who attacked the U.S. Capitol on January 6, and renaming a mountain,” concluded the lawmakers. “We urge you to make good on your campaign promise to lower food prices for American families.”

    MIL OSI USA News –

  • MIL-OSI: NEWTON GOLF Company Provides Preliminary Financial Results for Fourth Quarter 2024 and Full Year 2024

    Source: GlobeNewswire (MIL-OSI)

    CAMARILLO, CA, Jan. 27, 2025 (GLOBE NEWSWIRE) — NEWTON GOLF Company (Nasdaq: SPGC) (“NEWTON GOLF” or the “Company”), a technology-forward golf company with a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, reports preliminary financial results for the fourth quarter of 2024 (three months ended December 31, 2024) and full year of 2024 ahead of its quarterly filing.

    Financial Highlights

    • Revenue is expected to be between $1.1 million – $1.3 million in 4Q24, an increase of 882% at the midpoint of the range from revenue of $117,000 in 4Q23
    • Gross margin is expected to increase from 36% in 4Q23 to 72-74% in 4Q24, driven by increased sales and efficiencies in the manufacturing process in calendar 2024
    • Full year 2024 revenue is expected to increase from $349,000 in fiscal 2023 to $3.4 million – $3.6 million, representing almost 10-fold growth
    • Full year 2024 gross margin is expected to increase from 35% in fiscal 2023 to 65-67%, driven by increased volume in manufacturing in calendar 2024

    2024 Corporate Highlights

    • Announced a complete rebranding of the Company to NEWTON GOLF Company
    • Launched the Newton Fairway Motion shafts
    • Launched the new Newton Gravity premium putter line through the introduction of five new putter models
    • Expanded the Company’s global presence with the launch of the Newton Motion shafts in 50 of Japan’s largest golf retail locations
    • Increased the number of golf professionals using the Newton Motion Shafts on the PGA TOUR Champions from less than five at the beginning of 2024 to 34 at the end of 2024
    • Executed successful digital campaigns with high return on ad spending that were instrumental in the Company’s revenue growth
    • Closed on $9.1 million in financings to support the Company’s strategic growth
    • Introduced new advanced performance shafts for higher swing speeds in January 2025

    NEWTON GOLF Executive Chairman Greg Campbell commented, “Our expected improved results in 4Q24 and full year 2024 is reflective of the growing acceptance of our unique technology and design elements in our putters and replacement shafts. We recognized significantly increased sales of our NEWTON Motion replacement shafts throughout 2024 from both professional and recreational golfers, and we expect that momentum to continue in 2025. Despite it being generally off season for golf, we were pleased with our Black Friday and Cyber Monday sales, and we look forward to improved gross margin performance as we scale production and bring down unit cost.”

    This press release contains preliminary estimated financial results for the quarter and fiscal year ended December 31, 2024, and the financial results may change as a result of management’s continued review. The preliminary financial information included in this press release reflects the Company’s current estimates based on information available as of the date of this press release and has been prepared by Company management. This preliminary financial and operational information should not be viewed as a substitute for full financial statements and is not necessarily indicative of the results to be achieved for any future periods. This preliminary financial and operational information could be impacted by the effects of financial closing procedures, final adjustments, and other developments.

    About NEWTON GOLF: A Sacks Parente Company

    NEWTON GOLF: A Sacks Parente Company, is a technology-forward golf company that help golfers elevate their game. With a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, the Company’s innovative accomplishments include: the First Vernier Acuity putter, patented Ultra-Low Balance Point (ULBP) putter technology, weight-forward Center-of-Gravity (CG) design, and pioneering ultra-light carbon fiber putter shafts.

    In consideration of its growth opportunities in golf shaft technologies, the Company expanded its manufacturing business in April of 2022 to develop the advanced Newton brand of premium golf shafts by opening a new shaft manufacturing facility in St. Joseph, MO. It is the Company’s intent to manufacture and assemble substantially all products in the United States, while also expanding into golf apparel and other golf-related product lines to enhance its growth.

    The Company’s future expansions may include broadening its offerings through mergers, acquisitions or internal developments of product lines that are complementary to its premium brand. The Company currently sells its products through resellers, the Company’s websites, Club Champion retail stores, and distributors in the United States, Japan, and South Korea.

    For more information, please visit the Company’s website at www.newtongolfco.com or on social media at @newtongolfco.com, @newtonshafts, or @gravityputters.

    Investor Contact for NEWTON GOLF
    CORE IR
    516-222-2560
    investors@sacksparente.com

    The MIL Network –

  • MIL-OSI: Navigating Opportunities and Risks in Web3 Investment: Bybit at Invest Web3 Forum

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Jan. 27, 2025 (GLOBE NEWSWIRE) —

    Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has been rising to the challenge of shifts in the global regulatory landscape to capture AI opportunities in Web3, Bybit Web3’s Jase Zhang said at a panel at the Invest Web3 Forum in Dubai on Jan. 16, 2025. 

    The panel navigated the status quo of Web3 investment landscape, exploring the intersection of Web3 and AI technologies and how the convergence could take the sector forward. During the 30-minute discussion moderated by Glass Ventures Managing Partner Cinderella Amar, Law Blocks Co-Founder Ashish Baphana, and Bybit Web3 Product Manager Jase Zhang, the panelists exchanged insights on high-growth areas within Web3, and shed light on strategies for navigating investment opportunities as well as the regulatory landscape. The conversation covered venture capital’s evolution in the decentralized space and risk mitigation approaches for investors. 

    AI Meets Web3 
    “One of the most exciting trends in Web3 is the integration of AI and Web3 combination, especially through tools like most trending DefAI and AI Agents. These innovations will change how users interact with the onchain world. Users engage with decentralized finance by combining smart decision-making, natural language interaction, and automated execution,” said Jase Zhang, Web3 Product Manager at Bybit. “At Bybit, we’re closely following market trends, such as our Web3 Swap latest token categories, recent cex listings and AI products like TradeGPT, and continuously exploring new ways to combine Web3 and AI. Moving forward, we’ll keep focusing on high-growth areas and provide more innovative AI + Web3 products and services to meet evolving market demands,” he added. 

    Exchanges and Regulators: Goals Aligned 
    Zhang also identified regulatory uncertainty as one of the biggest risks in Web3 but was hopeful it was manageable. One of the risk factors includes the absence of a uniform regulatory framework, compounded by the fast-changing nature of the industry, which created challenges for compliance and long-term planning. 

    Zhang expanded on Bybit’s commitment to fostering industry growth through regulatory compliance and collaboration with local authorities, aiming to build a secure trading environment for users. The exchange tripled its user base in 2024, increasing its contact surface with global regulators and policymakers. By working closely with regulators in Dubai, Georgia, and the Netherlands, to name a few, Bybit has strengthened its regulatory posture to meet licensing requirements, reinforcing its commitment to providing a secure and advanced trading platform for its global user base of over 60 million.

    “We aim to adapt to changes while helping shape a sustainable framework for the industry. Bybit’s approach shows that regulatory collaboration isn’t just about compliance—it’s about building trust and fostering responsible innovation,” Zhang said of the shared goals of Bybit and regulators.

    The Invest Web3 Forum successfully concluded at In5 Tech, Dubai, attended by high-profile industry leaders and Web3 visionaries who gathered at the heart of Web3 innovation in the GCC.  

    Jase Zhang, Web3 Product Manager at Bybit at the Invest Web3 Forum in Dubai on Jan. 16, 2025

    #Bybit / #TheCryptoArk / #BybitWeb3

    About Bybit
    Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

    For more details about Bybit, please visit Bybit Press
    For media inquiries, please contact: media@bybit.com 
    For updates, please follow: Bybit’s Communities and Social Media
    Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

    Contact

    Head of PR
    Tony Au
    Bybit
    tony.au@bybit.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d2e1d1d7-6a00-48aa-af70-11c0f980f815

    The MIL Network –

  • MIL-OSI Russia: New victories: GUU experts became winners and prize winners of professional competitions

    Translation. Region: Russian Federation –

    Source: State University of Management – Official website of the State –

    Representatives of the State University of Management became winners of the All-Russian competition of professional industry experts “Expert Housing and Utilities – 2024”, organized by the Research Center for Municipal Economics, a long-standing partner of the State University of Management.

    The award ceremony for the winners and laureates took place at the Palace of Labor of Trade Unions on January 23, 2025.

    In two of the four competition nominations, experts from our university became winners and prize winners.

    1st place in the nomination “Best expert material on solving problems of staffing, organization and remuneration of housing and communal services organizations” was taken by the material of the associate professor of the department of state and municipal management of the State University of Management Irina Milkina “Realities of obtaining higher education for work in the housing and communal services sector”, published in the journal “Housing and communal services Expert: Economics and Law”.

    3rd place in the nomination “Best expert material on solving socio-economic problems of the urban environment (road management, comprehensive improvement, street lighting and landscaping, waste management)” was taken by the monograph “Comfortable urban environment as a factor in the well-being of city residents”, prepared by a team of authors from the Department of State and Municipal Administration: Irina Milkina, Mikhail Stadolin, Bayrta Ubushaeva and others.

    Let us recall that in September 2024, the authors of the monograph also received a 1st degree diploma at the XXIV Russian competition of educational programs and methodological support for the training, retraining and advanced training of personnel in the field of municipal administration.

    You can read the materials of the professional journal “Housing and Utilities Expert: Economics and Law” in the scientific library of the State University of Management.

    Subscribe to the TG channel “Our GUU” Date of publication: 01/27/2025

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI: QXO Launches $11 Billion Tender Offer to Acquire Beacon Roofing Supply for $124.25 Per Share in Cash

    Source: GlobeNewswire (MIL-OSI)

    GREENWICH, Conn., Jan. 27, 2025 (GLOBE NEWSWIRE) — QXO, Inc. (NYSE: QXO) today announced that it is commencing an all-cash tender offer to acquire all outstanding shares of Beacon Roofing Supply, Inc. (Nasdaq: BECN) for $124.25 per share. This price implies a 37% premium above Beacon’s 90-day unaffected volume-weighted average price of $91.02 per share as of November 15, 2024. The total transaction enterprise value is approximately $11 billion.

    QXO intends to complete the acquisition quickly after the tender offer expires in 20 business days, subject to the terms of the offer. The proposed transaction is not subject to any contingencies related to financing or due diligence. QXO expects that the waiting periods under the Hart-Scott-Rodino Act and the Canadian Competition Act will have expired or been waived by the time the tender offer expires.

    Brad Jacobs, chairman and chief executive officer of QXO, said, “Our compelling offer would get cash into the hands of Beacon shareholders immediately at a significant premium to the unaffected share price. We believe that Beacon would be a strong fit for QXO and a key part of our plan to become a forward-looking leader in building products distribution.”

    In addition, QXO reiterates that it intends to pursue all options to complete a transaction, including nominating directors for election at Beacon’s Annual Meeting.

    Secured Financing in Place
    QXO has secured full financing commitments from Goldman Sachs, Morgan Stanley, Citi, Credit Agricole, Wells Fargo and Mizuho. The proceeds from the financing commitments, together with QXO’s cash on hand, will be sufficient to pay 100% of the purchase consideration, any required refinancing of Beacon’s debt, and associated transaction fees and expenses.

    Terms
    The offer and withdrawal rights are scheduled to expire at 12:00 midnight, New York City time, at the end of February 24, 2025, unless the offer is extended. The full terms, conditions and other details of the tender offer are set forth in the offering documents that QXO is filing today with the Securities and Exchange Commission (the “SEC”).

    Morgan Stanley & Co. LLC is acting as lead financial advisor to QXO, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel.

    About QXO

    QXO provides technology solutions, primarily to clients in the manufacturing, distribution and service sectors. The company provides consulting and professional services, including specialized programming, training and technical support, and develops proprietary software. As a value-added reseller of business application software, QXO offers solutions for accounting, financial reporting, enterprise resource planning, warehouse management systems, customer relationship management, business intelligence and other applications. QXO plans to become a tech-forward leader in the $800 billion building products distribution industry. The company is targeting tens of billions of dollars of annual revenue in the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information.

    Forward-Looking Statements

    This communication contains forward-looking statements. Statements that are not historical facts, including statements about beliefs, expectations, targets, goals, regulatory approval timing and nominating directors are forward-looking statements. These statements are based on plans, estimates, expectations and/or goals at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as “may,” “will,” “should,” “expect,” “opportunity,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “target,” “goal,” or “continue,” or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks and uncertainties and readers are cautioned that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statements. Such factors include but are not limited to: the ultimate outcome of any possible transaction between QXO and Beacon, including the possibility that the parties will not agree to pursue a business combination transaction or that the terms of any definitive agreement will be materially different from those proposed; uncertainties as to whether Beacon will cooperate with QXO regarding the proposed transaction; the ultimate result should QXO commence a proxy contest for election of directors to Beacon’s board of directors; QXO’s ability to consummate the proposed transaction with Beacon; the conditions to the completion of the proposed transaction, including the receipt of any required shareholder approvals and any required regulatory approvals; QXO’s ability to finance the proposed transaction; the substantial indebtedness QXO expects to incur in connection with the proposed transaction and the need to generate sufficient cash flows to service and repay such debt; the possibility that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; QXO’s ability to retain certain key employees; and general economic conditions that are less favorable than expected. QXO cautions that forward-looking statements should not be relied on as predictions of future events, and these statements are not guarantees of performance or results. Forward-looking statements herein speak only as of the date each statement is made. QXO does not assume any obligation to update any of these statements in light of new information or future events, except to the extent required by applicable law.

    Important Additional Information and Where to Find It

    This communication is for informational purposes only and does not constitute a recommendation, an offer to purchase or a solicitation of an offer to sell Beacon securities. QXO and Queen MergerCo, Inc. (the “Purchaser”) filed a Tender Offer Statement on Schedule TO with the SEC on January 27, 2025, and Beacon will file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer with the SEC. Investors and security holders are urged to carefully read the Tender Offer Statement (including the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as each may be amended or supplemented from time to time), and the Solicitation/Recommendation Statement when available, as these materials contain important information that investors and security holders should consider before making any decision regarding tendering their common stock, including the terms and conditions of the tender offer. The Tender Offer Statement, Offer to Purchase, Solicitation/Recommendation Statement and related materials are filed with the SEC, and investors and security holders may obtain a free copy of these materials and other documents filed by QXO and Beacon with the SEC at the website maintained by the SEC at www.sec.gov. In addition, the Tender Offer Statement and other documents that QXO and the Purchaser file with the SEC will be made available to all investors and security holders of Beacon free of charge from the information agent for the tender offer: Innisfree M&A Incorporated, 501 Madison Avenue, 20th Floor, New York, NY 10022, toll-free telephone: +1 (888) 750-5834.

    QXO and the other participants intend to file a preliminary proxy statement and accompanying WHITE universal proxy card with the SEC to be used to solicit proxies for, among other matters, the election of its slate of director nominees at the 2025 annual meeting of stockholders of Beacon. QXO strongly advises all stockholders of Beacon to read the preliminary proxy statement, any amendments or supplements to such proxy statement, and other proxy materials filed by QXO with the SEC as they become available because they will contain important information. Such proxy materials will be available at no charge on the SEC’s website at www.sec.gov and at QXO’s website at investors.qxo.com. In addition, the participants in this proxy solicitation will provide copies of the proxy statement, and other relevant documents, without charge, when available, upon request. Requests for copies should be directed to the participants’ proxy solicitor.

    Certain Information Concerning the Participants

    The participants in the proxy solicitation are anticipated to be QXO, Brad Jacobs, Ihsan Essaid, Matt Fassler, Mark Manduca and individuals nominated by QXO (the “QXO Nominees”). QXO expects to determine and announce the QXO Nominees prior to the nomination deadline for the 2025 annual meeting of stockholders of Beacon. As of the date of this communication, other than 100 shares of common stock of Beacon beneficially owned by QXO, none of the participants that have been identified has any direct or indirect interest, by security holdings or otherwise, in Beacon.

    Media Contacts

    Joe Checkler
    joe.checkler@qxo.com
    203-609-9650

    Steve Lipin / Lauren Odell
    Gladstone Place Partners
    212-230-5930

    Investor Contacts ‍

    Mark Manduca
    mark.manduca@qxo.com
    203-321-3889

    Scott Winter / Jonathan Salzberger
    Innisfree M&A Incorporated
    212-750-5833

    The MIL Network –

  • MIL-OSI: First commercial launch of biometric payment cards in Japan with LIFE CARD and IDEX Biometrics

    Source: GlobeNewswire (MIL-OSI)

    Oslo, Norway and Tokyo, Japan – 27 January 2025 – IDEX Biometrics enters a new market, together with LIFE CARD, Japan’s most innovative credit card issuer. This marks the market introduction of biometric payment cards in Japan. LIFE CARD is targeting commercial deployment in the first half of 2025.

    Japan is one of the largest payment markets in Asia, with a very advanced acceptance landscape which is ready for biometric smart cards. Credit cards have emerged to become the most popular alternative to cash in Japan, with 314 million cards issued. Accounting for more than 80% percent of cashless transactions, credit cards are used far more than any other digital payment instrument in Japan1.

    As a credit card issuer of Visa and Mastercard, LIFE CARD is commercializing premium, corporate and student card programs. Biometric payment cards will be a key differentiator and amplifier as LIFE CARD continues to lead innovation in the market.

    “LIFE CARD provides innovative, secure and frictionless payment solutions to our growing consumer base. Introducing the latest biometric technology and security to the Japanese market, will reinforce our market positioning, as we attract new customers and increase transactions and customer lifetime value” says Keiji Masui, President at LIFE CARD.

    “LIFE CARD and IDEX Biometrics are bringing more seamless and secure payments to consumers, confirming Japan’s technology and innovation leadership in payments. IDEX is committed to make card payments easier, more secure and accessible for Japanese consumers”, shared Catharina Eklof, Chief Executive Officer at IDEX Biometrics.

    1Source: Statista

    For further information contact:
    Marianne Bøe, Head of Investor Relations, + 47 91800186
    Kristian Flaten, CFO, +47 95092322
    E-mail:ir@idexbiometrics.com

    About IDEX Biometrics
    IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market.

    For more information, please visit www.idexbiometrics.com

    About LIFE CARD Co., Ltd.
    Since its inception in 1952, LIFE CARD has been at the forefront of pioneering advancements in Japan’s credit system. Leveraging its rich legacy of expertise and industry insights, LIFE CARD is dedicated to providing unparalleled support and service toits partners as well as customers.
    As a proud member of the esteemed AIFUL Group, one of the largest non-bank financial institutions in the nation, LIFE CARD remains steadfast in its commitment to driving financial inclusivity and empowerment across diverse sectors.

    Through synergistic collaborations within the group, LIFE CARD endeavors to spearhead the development of multifaceted financial ecosystems, catering to the evolving needs of its partners and clientele.

    For more information, please visit www.lifecard.co.jp

    Trademark Statement
    IDEX, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective holders.

    About this notice:
    This notice discloses inside information pursuant to the EU Market Abuse Regulation and was issued by Marianne Bøe, Head of Investor Relations, on 27 January 2025 at 13:02 CET on behalf of IDEX Biometrics ASA. The notice is published in accordance with section 5-12 the Norwegian Securities Trading Act.

    The MIL Network –

  • MIL-OSI: MEXC’s Insurance Fund Account Provides $414M+ to Mitigate Traders’ Bankruptcy Losses

    Source: GlobeNewswire (MIL-OSI)

     

    VICTORIA, Seychelles, Jan. 27, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, has provided over $414 million through its Insurance Fund Account to cover deficits that occur when users’ losses during liquidation exceed their available margin as of January 23, 2025. This impressive figure underscores MEXC’s commitment to asset security and risk mitigation. Combined with Proof of Reserve, MEXC offers traders robust protection against extreme market fluctuations.

     

    How MEXC’s Insurance Fund Account Mitigates Risk for Traders
    The MEXC Insurance Fund Account, launched in November 2024, is specifically designed to protect traders from extreme market fluctuations, such as those experienced during a bull run, where rapid price swings can lead to a user’s account value to dip below the required margin level, triggering a liquidation. Should the liquidation price be worse than expected, resulting in losses that exceed than the available margin (a scenario known as bankruptcy), the Insurance Fund steps in to cover these excess losses, thus facilitating a smoother liquidation process.

    The fund is continually replenished by surpluses generated from liquidation orders executed at better-than-expected prices, ensuring its stability and ongoing protection during periods of high volatility.

    In line with its commitment to transparency, MEXC provides users with direct access to both current and historical insurance fund amounts for various cryptocurrencies on the platform.

    In addition, MEXC provides Proof of Reserve to ensure asset safety and maintain transparency for its users. This allows users to trade with confidence, free from concerns about withdrawal runs. The reserve rates are updated every two months. As of Dec 1, 2024, the latest reserve rates for various cryptocurrencies are as follows:

    • USDT: 104.52%
    • USDC: 116.52%
    • BTC: 105.88%
    • ETH: 105.65%

     

    By offering high leverage alongside an Insurance Fund Account and Reserve Rate exceeding 100%, MEXC ensures multiple layers of protection to safeguard traders’ positions and ensure asset security.

    The Go-To Platform for Seamless Crypto Trading
    In addition to implementing robust safety measures to ensure a secure trading environment, the platform offers a variety of features and services designed to enhance the user experience. These features help traders minimize costs and maximize returns. MEXC is committed to empowering traders by enabling investments across the widest range of assets, ensuring safe and seamless transactions regardless of market conditions.

    • M – Most Trending Tokens: MEXC is known for its rapid token listings and diverse selection of popular tokens, helping users capitalize on emerging opportunities. To date, over 3,000 tokens have been listed on the platform.
    • E – Everyday Airdrops: MEXC makes it easy for users to engage in daily airdrop events and receive substantial rewards without complex procedures. In 2024, the platform completed 2,293 airdrop events, distributing over $136 million in rewards.
    • X – Xtremely Low Fees: MEXC offers highly competitive trading fees, helping users reduce costs and maximize their growth potential.
    • C – Comprehensive Liquidity: Backed by strong liquidity and market depth, MEXC ensures the efficient and seamless execution of every transaction, minimizing slippage even during volatile conditions.

    These features have helped MEXC attract over 30 million users across over 170 countries, establishing it as the platform of choice for an increasing number of traders around the world.

    Learn more about the MEXC Insurance Fund Account.

    About MEXC
    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 30 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

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

    Risk Disclaimer:
    The information provided in this article about cryptocurrencies does not represent MEXC’s official stance or investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully evaluate market fluctuations, project fundamentals, and potential financial risks before making any trading decisions.

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/e38abd1a-038c-4b15-9bd1-930ea95076bd
    https://www.globenewswire.com/NewsRoom/AttachmentNg/7973d05e-acf0-4aee-95b0-a1fb0e6c4a71
    https://www.globenewswire.com/NewsRoom/AttachmentNg/78296b51-e6d1-48cd-a47f-a0fbd90dd493

    The MIL Network –

  • MIL-OSI NGOs: What do trade unions have to do with human rights?

    Source: Amnesty International –

    Trade unions are critical to protecting and promoting human rights including economic, social, and cultural rights and the right to be free from discrimination.

    First, they play a key role through negotiations with employers and collective action in supporting workers’ rights. In so doing, unions balance the scales of power, ensuring that workers are in a position to advocate for their rights, and holding those who run wealthy and powerful companies to account.

    Second, the benefits of trade unions go far beyond the workplace. Unions are the fuel that keeps the fires of social justice and people power burning so that workers’ rights are respected and protected by law. Throughout history, unions have been the driving force behind calls on governments and employers to acknowledge and prevent human rights abuses that are connected to their business operations. They also ensure laws are adopted and reformed to better respect and protect the rights of workers.

    Finally, unions have a long history of solidarity with other global human rights movements. From strikes in the 80s against apartheid in South Africa to the union-backed campaigns against Israel’s genocide of Palestinians in Gaza, their actions consistently demonstrate the bond between trade unionism and social justice.

    MIL OSI NGO –

  • MIL-OSI United Nations: Twentieth session of the SPECA Working Group on Trade

    Source: United Nations Economic Commission for Europe

    The United Nations Economic Commission for Europe (UNECE) and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) are organizing the twentieth session of the SPECA Working Group on Trade on 14 March 2025, back-to-back with a seminar “Implementing a Digital Equivalent of the SMGS Railway Consignment Note in the KTI Corridor Using UN Standards”. The Working Group supports cross-border and regional cooperation for the implementation of the 2030 Sustainable Development Agenda in Central Asia (notably SDG targets 17.10 and 17.11) to advance green and sustainable trade. The session will focus on the deliverables of the SPECA Working Group on Trade:

    1. collaboration among SPECA participating States in the WTO process,
    2. progress in the implementation of the SPECA Trade Facilitation Strategy and related roadmap,
    3. progress in the implementation of the Principles for Sustainable Trade in the subregion,
    4. studies and recommendations on regulatory and procedural non-tariff barriers to trade, and
    5. digitalization of data and document exchange in multimodal transport and trade using UN standards.

    The event will review national and regional plans and strategies of the SPECA participating States for sustainable trade facilitation and development. It will strengthen cooperation among trade diplomats of the SPECA participating States. Participants in the session are requested to contribute their good practices and identify priority actions on which the SPECA Working Group on Trade could work in the coming 2-3 years.

    MIL OSI United Nations News –

  • MIL-OSI United Nations: Eightienth International Capacity-Building Seminar on Trade and Transport Facilitation

    Source: United Nations Economic Commission for Europe

    This event is organized in collaboration between the United Nations Economic Commission for Europe (UNECE), the Government of Turkmenistan, and other partners. It is part of the work plan of the SPECA Chairmanship of Turkmenistan in 2025 and part of the implementation of the SPECA “Roadmap for the digitalization of multimodal data and document exchange along the Trans-Caspian transport corridor, using United Nations legal instruments and standards”. It focuses on the port-to-port data exchange across the Caspian Sea. The problem to tackle is the fragmentation of digitalization efforts in supply chains along the Trans-Caspian corridor and other SPECA corridors. The solution we suggest is to map and/or align data in flows of information about cargo moved along multimodal digital trade and transport corridors to the global semantic standards and Multimodal Transport Reference Data Model (MMT RDM) maintained by the United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT).

    MIL OSI United Nations News –

  • MIL-OSI Asia-Pac: HKETO Jakarta promotes Blueprint for Arts and Culture and Creative Industries Development in Malaysia (with photos)

    Source: Hong Kong Government special administrative region

    HKETO Jakarta promotes Blueprint for Arts and Culture and Creative Industries Development in Malaysia (with photos)
    HKETO Jakarta promotes Blueprint for Arts and Culture and Creative Industries Development in Malaysia (with photos)
    ******************************************************************************************

         The Hong Kong Economic and Trade Office in Jakarta (HKETO Jakarta) is supporting local comic companies under the Hong Kong Comics Development and Promotion Support Programme to take part in Comic Fiesta 2024 in Kuala Lumpur, Malaysia, to promote Hong Kong’s creative talent and the latest Blueprint for Arts and Culture and Creative Industries Development.      Speaking at the opening ceremony for the Hong Kong Pavilion today (December 21), the Director-General of the HKETO Jakarta, Miss Libera Cheng, said that the Programme has recruited a total of 47 local comic companies since its inception in 2021. It provides funding and professional mentoring to these companies and their artists to support the creation, publication and promotion of original comic work.      “Comic Fiesta is one of the largest comic exhibitions in Malaysia. Comic companies under the Programme have attended this event for three consecutive years. Some Hong Kong comic products have even been identified by the local trade in Malaysia for publication in the Malay language, manifesting the global influence of Hong Kong’s creative industries.”      Miss Cheng added that the Blueprint for Arts and Culture and Creative Industries Development promulgated last month has introduced a series of relevant measures, such as supporting the industry in exploring international markets and assisting local arts practitioners to establish overseas networks for promoting and exporting their distinguished artwork. The HKETO Jakarta will continue to step up efforts on arts and cultural promotion, with a view to consolidating Hong Kong’s status as an East-meets-West centre for international cultural exchange.      Also attending the opening ceremony were the Director of Malaysia of the Hong Kong Trade Development Council, Ms Hoh Jee Eng, and industry leaders from both places.      Comic Fiesta 2024 is attended by 17 Hong Kong comic companies under the third edition of the Programme. The two-day exhibition will conclude tomorrow (December 22).

     
    Ends/Saturday, December 21, 2024Issued at HKT 14:36

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Russia: The Government has updated the Strategy for the Development of the Sports Industry until 2035

    Translation. Region: Russian Federation –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    The decision was made on the instructions of the President.

    Document

    Order dated December 11, 2024 No. 3686-r

    Increasing the volume of production and expanding the range of domestic sports products, activating the import substitution program in the production of sports goods, creating new production facilities – these and other tasks are set in the updated version of the Strategy for the Development of the Sports Industry until 2035. The order approving it was signed by Prime Minister Mikhail Mishustin.

    Specific steps to achieve these goals were included in a set of measures to form a modern sports industry for 2025–2027, which also became part of the updated version of the strategy.

    According to this plan, by November 2025, the Ministry of Industry and Trade, the Ministry of Economic Development and the Ministry of Sports will determine target indicators for increasing the volume of production of sports products in general. By the specified deadline, these same departments will prepare proposals to expand the range of domestic sports equipment for tourism and active recreation, as well as for mass sports.

    By December 2025, the Ministry of Industry and Trade and the Ministry of Sports will approve an import substitution plan in the sports industry, agreed upon with enterprises producing sports goods.

    Other measures in the package include increasing the number of projects to localize the production of sports equipment and gear in Russia and improving the system for purchasing domestic gear and gear for various sports facilities.

    In addition, Rosstandart and the Ministry of Industry and Trade will annually update existing and create new national standards in the field of sports products.

    The President instructed the Government to update the Strategy for the Development of the Sports Industry until 2035. The head of state did this following a meeting of the Presidential Council for the Development of Physical Culture and Sports. It took place in October 2023.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: LegCo delegation begins duty visit to Japan (with photo)

    Source: Hong Kong Government special administrative region

    LegCo delegation begins duty visit to Japan (with photo)
    LegCo delegation begins duty visit to Japan (with photo)
    ********************************************************

    The following is issued on behalf of the Legislative Council Secretariat:     The Legislative Council (LegCo) delegation (the delegation), led by the President of LegCo, Mr Andrew Leung, began a four-day duty visit in Japan today (December 21) to strengthen ties with Japan and gain a deeper understanding of the latest situations and opportunities of the country in the areas of trade, culture and tourism, fisheries and agriculture, and food safety.     Upon arrival in Tokyo, the delegation had dinner and exchanged views with representatives of the Hong Kong Economic and Trade Office in Tokyo. Members and the Principal Hong Kong Economic and Trade Representative (Tokyo), Miss Winsome Au, discussed issues such as fostering the bilateral economic and trade relations between Hong Kong and Japan, attracting investment, and promoting Hong Kong tourism. Members also gained insight into the latest developments of Japanese culture, and explored the opportunities for collaboration between Hong Kong and Japan’s cultural industries. Mr Leung expressed gratitude to the Hong Kong Economic and Trade Office in Tokyo for their assistance in facilitating this duty visit.     The delegation will continue their duty visit in Japan tomorrow (December 22).     The delegation is led by Mr Leung. The Deputy delegation leader is the Chairman of the Parliamentary Liaison Subcommittee, Mr Tommy Cheung. Other participating Subcommittee members are Mr Jeffrey Lam, Mr Dominic Lee, Ms Nixie Lam, Ms Joephy Chan, Mr Tang Fei and Mr Yim Kong.

     
    Ends/Saturday, December 21, 2024Issued at HKT 19:11

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI United Nations: EFTA/UNECE Workshop on the Generic Law of Official Statistics

    Source: United Nations Economic Commission for Europe

    The workshop was organized jointly by EFTA and UNECE in close collaboration with the Statistical Committee of the Republic of Armenia (Armstat) and overseen by the Conference of European Statisticians’ Steering Group on Statistical Legislation. It brought together representatives of national statistical offices who have used or implemented the GLOS to:

    • Share the national experiences of using GLOS
    • Collect inputs regarding needed updates or extensions to existing guidance and 
    • Initiate the review process. 

    The workshop took place in person with simultaneous interpretation in English and Russian during the meeting. 

    MIL OSI United Nations News –

  • MIL-OSI Australia: Additional assistance in response to Vanuatu earthquake

    Source: Australian Government – Minister of Foreign Affairs

    The Australian Government will provide an additional $5 million in practical humanitarian assistance to the people of Vanuatu, following Tuesday’s tragic earthquake.

    This support builds on the Australian Government’s initial $2 million package and will assist the next phase of the Vanuatu Government’s emergency response.

    It includes $2.5 million for medical care for those injured, and to supply water, sanitation and hygiene products and services.

    Assistance will also be directed to NGOs through the Australian Humanitarian Partnership (AHP) consortium to address the distinct needs of vulnerable community members and to the Australian Red Cross, who in partnership with the Vanuatu Red Cross will deliver services and supplies including shelter, first aid and non-food items.

    An Australian Medical Assistance Team (AUSMAT), with 16 members will depart tomorrow. They will continue to support local health services to address critical injuries. The team has been drawn from across Australia, and we thank them for their contribution, especially over Christmas.

    The 64-member Disaster Assistance Response Team (DART), which has been assisting with search and rescue efforts, and the six-person AUSMAT team that were deployed on Wednesday will return to Australia tomorrow.

    The Royal Australian Air Force will conduct two further flights to Port Vila today. Commercial flights are now resuming.

    Australians should be proud of the emergency rescue and medical teams that deployed less than 24 hours after the earthquake. We are grateful to all of those involved in Australia’s response for their work.

    The Department of Foreign Affairs and Trade is continuing to provide consular assistance where needed to Australians present in the affected region.

    Australians in need of emergency consular assistance should contact the Australian Government 24-hour Consular Emergency Centre (+61 2 6261 3305 from overseas or 1300 555 135 in Australia).

    Imagery will be available via Dropbox.

    MIL OSI News –

  • MIL-OSI United Kingdom: New protections for British food and drink in Japan

    Source: United Kingdom – Executive Government & Departments

    UK secures special protected status as geographical indications for a further 39 British food and drink products in Japan.

    Woman shopping for vegetables

    Diners in Japan will be tucking into authentic UK products this festive period after the country granted special protected status to nearly 40 British food and drink products.   

    Festive favourites such as Single Malt Welsh Whisky and Beacon Fell Traditional Lancashire Cheese are just some of the products to receive the status, which means British businesses can export to Japan with confidence that their products are protected against imitation.  

    The news has been welcomed as an early Christmas present by food and drink businesses across the UK and could see a boost to British exports in Japan.

    Japan’s population of 124 million has a strong appetite for international food and drink and the country’s status as the world’s fourth largest economy in 2023 highlights the strength of its consumer market and the commercial opportunities for premium British products. 

    39 distinctive products from England, Scotland, Wales and Northern Ireland, already protected and celebrated by the UK Government as geographical indications (GIs), have formally gained protection following the completion of Japanese scrutiny processes.  

    These protections will safeguard British food and drink products with a distinct local identity, supporting jobs and tourism in mainly rural areas and boosting local growth, as part of the government’s Plan for Change.  

    The latest batch of GIs follows 37 that gained protection in the country earlier this year, including Cornish Pasties and Anglesey Sea Salt.    

    Minister for Food Security Daniel Zeichner said:

     I’m thrilled to see there’s a taste for authentic British food and drink in Japan. We are committed to growing trade opportunities for British producers around the world as part of our Plan for Change, boosting growth and benefitting businesses across the country. 

    The UK is home to a feast of flavours from every corner of the British Isles. With the new agreement between the UK and Japan, consumers will now be able to chew over their choices with confidence, knowing they’re getting the quality and reputation that British food is known for – it’s the perfect recipe for success.

    Trade Minister Douglas Alexander said: 

    Iconic UK products such as Ayrshire New Potatoes and Carmarthen Ham will now benefit from protected status in Japan. From Sussex to Armagh we are securing protections for unique British food and drink products, ensuring Japanese consumers can rest assured that they are receiving authentic, high-quality British produce.

    This early Christmas present to British producers will give them confidence when exporting to Japan, helping them sell more, grow their business and ultimately drive economic growth.” 

    Co-founder of Rathfinny Wine Estate, Mark Driver said:

    We launched Rathfinny’s Traditional Method Sussex sparkling wines in Japan in 2023 and are delighted that the Sussex PDO will now be afforded protection in Japan. The Sussex PDO is a mark of both provenance and quality, ensuring any wine with ‘Sussex’ on the label has had to pass a stringent blind tasting and high analytical standards.

    Rathfinny’s Traditional Method Sussex sparkling wines are produced on a single-site vineyard, in the iconic South Downs near the Seven Sisters in East Sussex. They are now available across Japan through the specialist wine importer, Vin Passion.

    Chief Executive Officer of Penderyn Distillery, Stephen Davies said:     

    Japan is an important market for world-class single malt whisky, making it a key target market for Penderyn Single Malt Welsh Whisky.      

    We have a great partner (Whisk-E) and together we plan to build awareness and reputation for our unique brand from Wales. The establishment of the geographical indication for Single Malt Welsh Whisky in 2022 was an important milestone in the development of the whisky industry in Wales and to have recognition in Japan will be a great achievement to support our export strategy.

    Co-Founder and Managing Director of Halen Môn, Alison Lea-Wilson said:   

    We are proud to have the name and method of Halen Môn recognised in Japan as authentic and possessing the special qualities that set it apart from other salts.   

    GI status offers brands such as Halen Môn protection against passing off and another way of differentiating ourselves from our competitors. We know that Japanese consumers recognise the premium quality of British brands and are keen to buy the authentic product, so it’s great to hear that Japan is recognising further GIs from the UK.

    Further British GIs have been recognised across the world in recent months, with fourteen UK GIs including Welsh Laverbread, Vale of Evesham Asparagus and London Cure Smoked Salmon granted protection in Iceland on 4 December under the Free Trade Agreement between the UK and Iceland, the Principality of Liechtenstein, and the Kingdom of Norway.  

    This followed new protections for Scotch Whisky in Brazil, South America’s largest economy, in August, tackling counterfeits and giving distillers the confidence to up their exports to Brazil.

    Further information 

    Geographical Indications 

    • A Geographical indication (GI) is an intellectual property right used on products that have qualities or characteristics attributable to a specific geographical origin. Examples include Scotch Whisky, Welsh Lamb and Melton Mowbray Pork Pies. 
    • Food, drink and agricultural products with a geographical connection or that are made using traditional methods can be registered and protected as intellectual property. 
    • Geographical indications protect the authenticity of many of our most prestigious food and drink products and give consumers confidence that international GI products are genuine articles. 
    • The UK’s annual GI exports are estimated to be worth over £6 billion and account for 25% of UK food and drink exports’ value.  

    UK food, drink, and agricultural products to be protected in Japan include:  

    • Armagh Bramley Apples
    • Ayrshire New Potatoes/Ayrshire Earlies
    • Beacon Fell Traditional Lancashire Cheese
    • Bonchester Cheese
    • Buxton Blue
    • Cambrian Mountains Lamb
    • Carmarthen Ham
    • Cornish Sardines
    • Darnibole
    • Dovedale Cheese
    • Fal Oysters
    • Fenland Celery
    • Gloucestershire Cider
    • Gloucestershire Perry
    • Gower Salt Marsh Lamb
    • Lakeland Herdwick
    • New Season Comber Potatoes / Comber Earlies Potatoes
    • Newmarket Sausage
    • Orkney Beef
    • Orkney Lamb
    • Rutland Bitter
    • Scottish Wild Salmon
    • Shetland Lamb
    • Sussex Wine
    • Swaledale Ewes Cheese
    • Teviotdale Cheese
    • The Vale of Clwyd Denbigh Plum
    • Traditional Welsh Cider
    • Traditional Welsh Perry
    • Vale of Evesham Asparagus
    • West Wales Coracle Caught Salmon
    • West Wales Coracle Caught Sewin
    • Whitstable Oysters
    • Worcestershire Cider
    • Worcestershire Perry
    • Yorkshire Forced Rhubarb
    • New Forest Pannage Ham
    • Welsh Leeks
    • Welsh Whisky

    Updates to this page

    Published 22 December 2024

    MIL OSI United Kingdom –