NewzIntel.com

Category: Trade

  • MIL-OSI Banking: Secretary-General of ASEAN meets with Minister of Agriculture and Agri-Food of Canada

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today received the Minister of Agriculture and Agri-Food of Canada, H.E. Mr. Heath MacDonald, at the ASEAN Headquarters/ASEAN Secretariat. They discussed potential areas of cooperation between ASEAN and Canada, particularly in sustainable agriculture, the reduction of harmful agrochemicals, and the promotion of regenerative agriculture. On ASEAN-Canada Free Trade Agreement (FTA) negotiations, SG Dr. Kao encouraged Canada to adopt a constructive approach, especially in areas such as equivalence and risk assessment, which could help expedite the conclusion of the Sanitary and Phytosanitary (SPS) Chapter.

    The post Secretary-General of ASEAN meets with Minister of Agriculture and Agri-Food of Canada appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI Russia: D. Trump announced the introduction of 25 percent customs duties on imports from India

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    NEW YORK, July 30 (Xinhua) — U.S. President Donald Trump said on Wednesday that Indian goods exported to the United States will be subject to a 25 percent tariff starting Aug. 1, the American leader said in a post on the Truth Social social network.

    According to D. Trump, although India is “our friend,” the United States does “relatively little business with it because their tariffs are too high.” The American president added that India has “the most onerous and obnoxious non-monetary trade barriers of any country.”

    The head of the White House also noted that India “has always purchased the vast majority of military equipment from Russia and is the largest buyer of Russian energy resources.”

    Therefore, he announced, starting from August 1, India will pay 25 percent customs duties and “a penalty for the above.”

    U.S. Trade Representative Jamison Greer told CNBC on July 28 that the United States needs more time to negotiate with India to assess the country’s readiness to open its market more to American goods.

    Any tariff rate of 20 percent or more would be a disappointment to India, which had sought better terms than the 19 percent Trump offered Indonesia and the Philippines, Bloomberg reported Tuesday. –0–

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

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Alexander Novak made a working visit to the Kingdom of Saudi Arabia

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

    Meeting of Alexander Novak with the co-chairman of the Joint Russian-Saudi Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation, Minister of Energy of Saudi Arabia Prince Abdulaziz bin Salman Al Saud

    Deputy Prime Minister of the Russian Federation Alexander Novak made a working visit to the Kingdom of Saudi Arabia. He met with the co-chairman of the Joint Russian-Saudi Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation, Minister of Energy of Saudi Arabia Prince Abdulaziz bin Salman Al Saud.

    The participants discussed cooperation within the Joint Russian-Saudi Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation and the results of the implementation of the instructions of the co-chairs of the commission following the last meeting. The parties noted with satisfaction the recent opening of direct flights between the two countries, the signing of several memorandums of understanding in various areas, such as industry, education, media, as well as in terms of organizing the Hajj.

    During the talks, the parties discussed prospects for increasing trade turnover and expanding cooperation in key economic sectors of mutual interest. The parties also discussed preparations for the ninth meeting of the intergovernmental commission, which will be held in Riyadh on November 6 this year.

    Another topic of negotiations was the situation on the oil market and the prospects for cooperation between the two countries within OPEC.

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

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    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Advance estimates on Gross Domestic Product for second quarter of 2025

    Source: Hong Kong Government special administrative region

    The Census and Statistics Department (C&SD) released today (July 31) the advance estimates on Gross Domestic Product (GDP) for the second quarter of 2025.
     
    According to the advance estimates, GDP increased by 3.1% in real terms in the second quarter of 2025 over a year earlier, compared with the increase of 3.0% in the first quarter.
     
    Analysed by major GDP component, private consumption expenditure increased by 1.9% in real terms in the second quarter of 2025 over a year earlier, as against the decrease of 1.2% in the first quarter.
     
    Government consumption expenditure measured in national accounts terms recorded an increase of 2.5% in real terms in the second quarter of 2025 over a year earlier, compared with the increase of 0.9% in the first quarter.
     
    Gross domestic fixed capital formation increased by 2.9% in real terms in the second quarter of 2025 over a year earlier, following the increase of 1.1% in the first quarter.
     
    Over the same period, total exports of goods measured in national accounts terms recorded an increase of 11.5% in real terms over a year earlier, accelerated further from the growth of 8.4% in the first quarter. Imports of goods measured in national accounts terms grew by 12.7% in real terms in the second quarter of 2025, compared with the increase of 7.2% in the first quarter.
     
    Exports of services rose further by 7.5% in real terms in the second quarter of 2025 over a year earlier, after the increase of 6.3% in the first quarter. Imports of services increased by 7.0% in real terms in the second quarter of 2025, compared with the increase of 4.7% in the first quarter.
     
    On a seasonally adjusted quarter-to-quarter comparison basis, GDP increased by 0.4% in real terms in the second quarter of 2025 when compared with the first quarter.

    Commentary
     
    A Government spokesman said that the Hong Kong economy continued to expand solidly in the second quarter of 2025, supported by strong exports performance and improved domestic demand. According to the advance estimates, real GDP grew by 3.1% over a year earlier, picking up slightly from the preceding quarter. On a seasonally adjusted quarter-to-quarter basis, real GDP rose further by 0.4%.
     
    Analysed by major expenditure component, total exports of goods saw accelerated growth, as the external demand was resilient and the temporary easing of US tariff measures led to some “rush shipments”. Exports of services continued to expand notably, thanks to strong growth in inbound tourism, further expansion in cross-boundary traffic, and vibrant financial and related business service activities amid the buoyant local stock market. Domestically, private consumption expenditure resumed moderate growth after four consecutive quarters of decline, as supported by the stabilisation in the domestic consumption market. Meanwhile, overall investment expenditure increased further alongside the economic expansion.
     
    The Hong Kong economy exhibited remarkable resilience in the first half of 2025. Looking ahead, steady economic growth in Asia, particularly in the Mainland, combined with the Government’s various measures to bolster consumption sentiment, attract investment, diversify markets, and promote economic growth, will continue to provide steadfast support for various segments of the Hong Kong economy. Nevertheless, uncertainties in the external environment remain elevated. The US’ renewed tariff hikes of late will exert pressure on global trade flows as well as its domestic economic activity and inflation. The uncertain pace of US interest rate cuts will also affect investment sentiment. Moreover, the “rush shipment” effect is expected to fade later this year. Hong Kong’s economic performance going forward will, to a certain extent, depend on how these factors evolve.
     
    The revised figures on GDP and more detailed statistics for the second quarter of 2025, as well as the revised GDP forecast for 2025, will be released on August 15, 2025.
     
    Further information
     
    The year-on-year percentage changes of GDP and selected major expenditure components in real terms from the second quarter of 2024 to the second quarter of 2025 are shown in Table 1.
     
    When more data become available, the C&SD will compile revised figures on GDP. The revised figures on GDP and more detailed statistics for the second quarter of 2025 will be released at the C&SD website (www.censtatd.gov.hk/en/scode250.html) and the Gross Domestic Product by Expenditure Component report (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1030001&scode=250) on August 15, 2025.
     
    For enquiries about statistics on GDP by expenditure component, please contact the National Income Branch (1) of the C&SD (Tel: 2582 5077 or email: gdp-e@censtatd.gov.hk).

    MIL OSI Asia Pacific News –

  • MIL-OSI United Kingdom: Directors banned after Stoke firm made hundreds of thousands of nuisance calls

    Source: United Kingdom – Executive Government & Departments

    Press release

    Directors banned after Stoke firm made hundreds of thousands of nuisance calls

    The company also received a £150,000 fine from the Information Commissioner’s Office

    • Mohammed Liaqat and Rubani Ghulam were directors of a company which harassed people with nuisance cold-calls in 2020 and 2021 

    • Posh Windows UK Ltd, based in Stoke-on-Trent, made more than 400,000 unsolicited marketing calls trying to sell home improvements within a nine-month period 

    • Both have now been disqualified as company directors following investigations by the Insolvency Service 

    Two businessmen from Stoke-on-Trent who allowed their home improvements company to make hundreds of thousands of nuisance cold-calls have been banned as directors. 

    Mohammed Liaqat, 37, and Rubani Ghulam, 55, were directors of Posh Windows UK Ltd, which specialised in a range of products including windows, doors and conservatories. 

    However, the company made 461,062 unsolicited marketing calls in a nine-month period between August 2020 and April 2021. 

    The calls were to people who had registered with the Telephone Preference Service (TPS), a statutory register of people who have said they do not want to receive marketing calls.  

    Posh Windows UK Ltd was fined £150,000 by the Information Commissioner’s Office (ICO) in 2022 but went into liquidation in the same year without having paid any of the fine. 

    Liaqat, of Clarke Street, and Ghulam, of Thorndyke Street, have now been disqualified as company directors for four years. 

    Simon Gillett, Chief Investigator at the Insolvency Service, said: 

    Mohammed Liaqat and Rubani Ghulam allowed their company to make nearly half a million nuisance calls to people who had explicitly said they did not want to receive marketing calls, causing significant inconvenience to members of the public. 

    Many of the victims were also subjected to aggressive pressure tactics and repeated calls. 

    Directors who ignore privacy regulations and allow their companies to harass the public through relentless cold-calling will face the consequences. In this case, both Liaqat and Ghulam have been banned from running companies for four years, protecting consumers from further misconduct.

    Posh Windows UK Ltd was based on Cheapside in Stoke-on-Trent, with Liaqat and Ghulam appointed as directors in 2018. 

    The company first came to the attention of the ICO in January 2021 when one of its employees received an unsolicited direct marketing call in the evening. 

    During the call, the caller referred to government grants for home improvements and wanted to book an appointment for the following day. 

    They only hung up when the recipient told them that the telephone number was registered with the TPS. 

    Further complaints to the TPS and ICO indicated that pressure tactics were being used and constant calls were made, often outside standard business hours. Some callers were called more than 10 times, even after they had told them to stop. 

    In total, Posh Windows UK Ltd made 630,971 calls between 1 August 2020 and 30 April 2021. Of those, 461,062 were made to subscribers whose telephone numbers had been registered with the TPS for more than 28 days 

    All but 84 of the 461,062 calls were made from a withheld number, breaching privacy regulations. 

    ICO investigations began in March 2021 but Liaqat still allowed the company to trade for more than a year without the ability to adequately screen numbers against the TPS register. 

    Andy Curry, Head of Investigations at the ICO, said:  

    We welcome the decision to disqualify Mohammed Liaqat and Rubani Ghulam as directors of Posh Windows UK Ltd.  

    Nobody should be made to feel uncomfortable or distressed after simply answering the phone, and our investigation found that this company showed complete disregard for both the law and the thousands of people they were aggressively pestering.  

    Our Financial Investigation Unit works closely with the Insolvency Service to bring companies and directors to account. By disrupting the non-compliant activities of directors such as Mohammed Liaqat and Rubani Ghulam, we can help ensure they can’t easily resurface under a different name and continue to cause further harm to people.

    The Secretary of State for Business and Trade accepted disqualification undertakings from Liaqat and Ghulam, and their bans started on Thursday 31 July. 

    The undertakings prevent them from being involved in the promotion, formation or management of a company, without the permission of the court.  

    Further information  

    About us 

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

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

    Read more about what we do 

    Press Office 

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

    Out of hours 

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

    Updates to this page

    Published 31 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Europe: The EBA consults on harmonised reporting for third-country branches across the EU

    Source: European Banking Authority

    The European Banking Authority (EBA) today launched a public consultation on its draft Implementing Technical Standards (ITS) for the supervisory reporting of third-country branches under the Capital Requirements Directive (CRD). This initiative aims to establish uniform formats, definitions, and reporting frequencies for third-country branches, ensuring a consistent and comprehensive approach to regulatory and financial information reporting across the EU. The consultation runs until 31 October 2025. 

    The draft ITS not only aim at harmonising reporting formats and definitions but also at enhancing supervisory oversight of third-country branches. By introducing structured data collection –  covering both the third-country branches and their head undertakings – the ITS support the effective supervision of third-country branches by addressing previous inconsistencies in national approaches and enabling a standardised reporting of their activities across the Union. The new templates should provide a clear picture of the financial soundness, risk exposures, and intra-group dependencies of third-country branches, thereby supporting more effective and consistent supervision across the EU. Importantly, the ITS incorporate a proportionate approach through a “core + supplement” model, ensuring that reporting obligations are tailored to the systemic relevance of each third-country branch. This ensures that supervisory scrutiny is risk-sensitive while maintaining a level playing field. 

    Consultation Process 

    Comments on the draft ITS can be submitted to the EBA by clicking on the “send your comments” button on the consultation page. The deadline for the submission of comments is 31 October 2025. All contributions received will be published after the consultation closes, unless requested otherwise. 

    A public hearing on the draft ITS will take place on 5 September from 10:00 to 12:00 CEST. The deadline for registration is 2 September 2025, 16:00 CEST. 

    Legal Basis and next steps 

    The EBA has developed these draft ITS in accordance with Article 48l(1) of Directive 2013/36/EU, which mandates the EBA to specify uniform formats, definitions, and reporting frequencies for the supervisory reporting of third-country branches. 

    The consultation period will run for three months, during which the EBA invites comments and feedback from stakeholders. Following the consultation, the EBA will finalise the draft ITS and submit them to the European Commission by January 10, 2026. The first reference date for the application of these ITS is anticipated to December 2026, so as to grant Competent Authorities and third-country branches to have an implementation period of approximately one year.  

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Trading standards seize nearly £700,000 of illegal tobacco and vapes in latest crackdown

    Source: City of Stoke-on-Trent

    Published: Thursday, 31st July 2025

    Stoke-on-Trent City Council is stepping up its crackdown on illegal tobacco and vape sales after seizing more illegal cigarettes, tobacco and vapes.

    Trading Standards officers carried out a visit to a storage facility in Etruria on Wednesday 23 July, supported by police officers and a tobacco dog and handler from JMS Accelerant Search.

    The teams seized 638,380 cigarettes, 108kg of hand rolling tobacco and 1262 vapes – with a total retail value of £671,363.

    The individual who hired the two shipping containers, which stored the illegal goods, is now under investigation.

    The work is part of Operation CeCe – a national operation with HMRC and National Trading Standards to tackle illegal tobacco.

    Councillor Amjid Wazir, cabinet member for city pride, environment and sustainability at Stoke-on-Trent City Council, said: “This work clearly shows that illegal tobacco sales will not be tolerated. Those involved in the storage, distribution, or sale of illicit tobacco will face serious consequences.

    “Smuggling and counterfeiting on this scale is organised crime – the shops these goods were destined for don’t care who they sell to and are happy to sell to the city’s children.

    “Our message is clear, those engaging in crime will be held accountable. We are committed to making Stoke-on-Trent a greener, fairer, cleaner, safer city and keeping these substances off our streets.”

    Lord Michael Bichard, Chair, National Trading Standards, said: “The illicit tobacco trade is driven by organised criminal gangs and poses serious risks to local communities, especially young people.

    “Since its launch in January 2021, Operation CeCe – a National Trading Standards initiative in partnership with HMRC – has removed 69 million illegal cigarettes, 19,750kg of hand-rolling tobacco and almost 175kg of shisha products from sale, helping to clamp down on this illicit trade and protect communities and honest businesses across the UK.”

    Anyone with concerns about illegal tobacco, vapes and underage sales can contact Trading Standards on the hotline at 01782 238884 or visit www.stoke.gov.uk/tradingstandards

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Chinese border town becomes key hub for importing Russian Kamchatka crabs

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 31 (Xinhua) — Did you know that out of five Russian Kamchatka crabs eaten by Chinese, four came from the border town of Hunchun, (Yanbian Korean Autonomous Prefecture, Northeast China’s Jilin Province), which is not actually a coastal town?

    At the King Crab Exhibition Hall located in the Northeast Asia Cross-Border E-Commerce Industrial Park in Hunchun, hundreds of blue and red king crabs from the Bering Strait live comfortably in a huge pool.

    The cool air in the exhibition hall mixes with the faint salty taste of sea water. It turns out that the pool is filled with sea water from the “native land” of king crabs, and its temperature is maintained at about 2 degrees Celsius.

    “The king crabs, which cost more than 320 yuan (US$44.5) per kilogram, were transported to China using original transport and water environment to ensure their longer life,” said Cui Ling, an employee of Hunchun Shengjin International Trade Co., Ltd., adding that July to August is the busiest time of the year. On average, up to 150 king crabs are sold per day through online and offline sales. These king crabs are shipped from here and delivered across the country within two weeks. In many regions, customers who order this seafood delicacy in the morning receive it the next day.

    Why hasn’t the coastal city of Hunchun become the key hub for importing Russian Kamchatka crabs?

    Previously, Kamchatka crabs imported from Russia to China had to be transported through the Republic of Korea and Japan, which led to higher costs and a deterioration in the quality of king crabs.

    After Hunchun Port was approved as a specialized port for importing chilled seafood and edible aquatic animals, this “golden corridor” for importing king crabs into China was opened. In addition, the Kamchatka-Zarubino-Hunchun route made the transportation of aquatic products between China and Russia more stable and smooth.

    To ensure the freshness of imported seafood, Hunchun Customs has opened a “green channel” to provide inspection and release services by appointment all year round and around the clock, speeding up customs clearance.

    “In 2024, about 1.5 million pieces of king crab worth 3.31 billion yuan were imported into China through Hunchun Port, accounting for more than 80 percent of the country’s total market,” said Sun Jufeng, head of the Hunchun Port Management Service Center.

    According to him, in recent years the efficiency of customs clearance has been constantly improving. If the driver registers in advance, the passage through the checkpoint can be completed in a matter of minutes.

    Let us recall that last year, construction of a new terminal began in Hunchun on the territory of the checkpoint in order to meet the increasing volumes of cargo flow between China and Russia. The new terminal with a design capacity of 2 million tons will be put into operation during this year, and then the volume of transportation through the Hunchun checkpoint will increase more than fourfold.

    In recent years, Chinese consumers’ interest in Russian Kamchatka crabs has grown rapidly. According to the General Administration of Customs of China, the total value of China’s imports of live, fresh and frozen crabs from Russia exceeded US$1.14 billion last year, up 16.7 percent from the previous year. -0-

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

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Comment: Dialogue and mutual benefit are the key to long-term stability in China-US trade relations

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 31 (Xinhua) — The two sides had a frank, in-depth and constructive exchange of views on major topics of common interest during the latest round of China-U.S. economic and trade talks in Stockholm from Monday to Tuesday, sending a clear signal that the world’s two largest economies remain committed to dialogue, resolving differences and strengthening global stability.

    Based on the consensus reached during the talks, the parties will continue to promote a 90-day extension of the pause in the 24 percent mirror tariffs of the US side and the countermeasures of the Chinese side.

    The progress achieved in the talks once again demonstrates that as long as both sides follow the important consensus reached by the two heads of state and adhere to the principle of equal dialogue and consultation, they can effectively resolve differences, enhance mutual trust and push bilateral economic and trade relations in a healthy, stable and sustainable direction.

    During the talks, the Chinese side emphasized that the essence of Chinese-American trade and economic relations is mutual benefit. China and the United States benefit from cooperation and lose from confrontation. The American side also stated that stable trade and economic relations between Washington and Beijing are of great importance for the economies of both countries and the world as a whole.

    This shared awareness has become a key foundation for both sides to come together, engage in constructive dialogue and make tangible progress.

    For decades, the two largest economies have been deeply integrated, with broad common interests and enormous potential for cooperation in trade and economic matters. Such strong economic complementarity cannot be easily destroyed by any artificial tariff barriers.

    China approaches the consultations with 100 percent sincerity, firmly adhering to its principles without compromise, and consistently emphasizing the need to respect each other’s core interests. China’s position on the mirror tariffs unilaterally imposed by the United States is clear and consistent: they are essentially acts of unilateralism and protectionism that violate the rules of the World Trade Organization.

    China is willing to properly resolve differences and find solutions through dialogue and consultation. However, such dialogue must take place on an equal basis. China’s right to development is inalienable, and its determination to safeguard its core interests and development rights remains unwavering. Any attempt to pressure China to make concessions on fundamental issues is unrealistic.

    Some of the deeper problems in China-US trade and economic relations are difficult to resolve overnight, but progress begins with concrete steps. /The Chinese side/ hopes that Washington will move in the same direction as Beijing, implementing the important consensus reached by the two heads of state and the positive momentum gained from the talks.

    In this way, both sides can contribute to stabilizing their economic ties, strengthening mutual trust, reducing misjudgments, deepening cooperation, and quickly returning bilateral relations to the track of healthy and sustainable development. –0–

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

    .

    MIL OSI Russia News –

  • MIL-OSI Europe: Written question – Legal risks of EU proposal to ban Russian natural gas imports – E-003014/2025

    Source: European Parliament

    Question for written answer  E-003014/2025
    to the Commission
    Rule 144
    Fabio De Masi (NI)

    According to the Oxford Institute for Energy Studies, the proposal for a regulation on phasing out Russian natural gas imports, improving the monitoring of potential energy dependencies and amending Regulation (EU) 2017/1938 raises unresolved legal issues that ‘place a significant burden on importers and other stakeholders, while risking regulatory overreach […] thus potentially increasing costs and preventing legitimate gas imports’. The analysts also argue that the amendment of the rules creates legal uncertainty, in particular as regards the application of force majeure clauses and contract termination. The proposal does not guarantee that an import ban will be recognised as a case of force majeure under the relevant contract, leaving buyers exposed to potential claims for compensation or ongoing obligations under long-term Russian gas and LNG contracts, even if the EU ban is in place.

    How will the European Commission take account of the criticism of the Oxford Institute for Energy Studies[1] that the proposal to phase out Russian gas imports creates legal uncertainties and exposes importers to possible claims for compensation?

    Submitted: 19.7.2025

    • [1] https://www.oxfordenergy.org/wpcms/wp-content/uploads/2025/07/The-EU-Proposal-To-Ban-Russian-Gas-Imports-roadblock-more-than-roadmap-NG-199.pdf
    Last updated: 31 July 2025

    MIL OSI Europe News –

  • MIL-OSI: Axi Honoured with Five Awards by World Business Outlook Awards for 2025

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, July 31, 2025 (GLOBE NEWSWIRE) — Axi, an industry-leading global broker, has been recognised with five awards* from the World Business Outlook Awards for 2025, marking a significant milestone in its continued growth and commitment to excellence:

    Best CFD Provider Australia

    Best Forex Trading Platform Australia

    Best 24/7 Customer Service Provider Australia

    Best Forex Broker Australia

    Most User-Friendly Trading Experience Australia

    “We are beyond proud and humbled to receive five awards from World Business Outlook Awards,” said Louis Cooper, CCO at Axi. “This recognition reflects and reinforces our mission to help our traders and partners gain the edge they need to stay ahead in this rapidly evolving industry. From providing the best-in-class trading platform and backing it up with top-tier customer service, we’re incredibly excited to see our efforts reaffirmed.”

    The latest accolade follows a series of other notable achievements for Axi. Earlier this year, Global Business and Finance Magazine Awards recognised Axi with the ‘Best Financial Institution 2025’ award for the UK, Middle East, and LatAm markets. In 2024, the broker received widespread industry acclaim with the ‘Innovator of the Year’ award at the 2024 Dubai Forex Expo. That same year, Axi was named Best Broker (MENA), Most Trusted Broker (LatAm), Most Reliable Broker (Europe), and Best Introducing Broker Program (Asia) by Global Forex Awards.

    About Axi

    Axi is a global online FX and CFD trading company, with thousands of customers in 100+ countries worldwide. Axi offers CFDs for several asset classes including Forex, Shares, Gold, Oil, Coffee, and more.

    For more information or additional comments from Axi, please contact: mediaenquiries@axi.com

    *These awards are granted to the Axi group of companies.

    The MIL Network –

  • MIL-OSI Banking: Verizon to redeem debt securities on September 3, 2025

    Source: Verizon

    Headline: Verizon to redeem debt securities on September 3, 2025

    NEW YORK – Verizon Communications Inc. (“Verizon”) (NYSE, NASDAQ: VZ) today announced that it will redeem, in whole, the following notes on September 3, 2025 (the “Redemption Date”):

    I.D. Number

    Title of Security

    NYSE Trading Symbol

    Principal Amount
    Outstanding

    CUSIP: 92343V BW3

    ISIN: XS1030900242

    Common Code: 103090024

    3.25% Notes due 2026 (the “Notes”)

    VZ 26

    €842,980,000

    The redemption price for the Notes will be equal to the greater of (i) 100% of the principal amount of the Notes being redeemed, or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes (exclusive of interest accrued to the Redemption Date), as the case may be, discounted to the Redemption Date on an annual basis (ACTUAL/ACTUAL (ICMA)) at the Comparable Government Bond Rate (as defined in the Notes) plus 25 basis points (the “Redemption Price”), plus accrued and unpaid interest on the principal amount being redeemed to, but excluding, the Redemption Date. The Redemption Price will be calculated in accordance with the terms of the Notes on the third Business Day (as defined in the Notes) preceding the Redemption Date.

    Questions relating to the notice of redemption and related materials should be directed to the paying agent: U.S. Bank Trust Company, Trust Company, National Association, 333 Thornall Street, Edison, New Jersey 08837, United States of America, or via telephone at 1-800-934-6802.

    MIL OSI Global Banks –

  • MIL-OSI: WisdomTree Multi Asset Issuer PLC Restrike of WisdomTree Copper 3x Daily Leveraged

    Source: GlobeNewswire (MIL-OSI)

    WisdomTree Multi Asset Issuer PLC
    LEI: 2138003QW2ZAYZODBU23
    31 July 2025

    WisdomTree Multi Asset Issuer PLC
    (the “Issuer”)
    Restrike of WisdomTree Copper 3x Daily Leveraged
    (the “Impacted Product”)

    The Issuer announces that due to movements in the price of copper futures, a Restrike Event has occurred with respect to the Impacted Product. The details of the restrike are as follows:

    • Start of Restrike Period: 10:00:00 (London time) on 31 July 2025
    • End of Restrike Period: 10:15:00 (London time) on 31 July 2025
    • Restrike Price per ETP Security: $ 8.5971241
    • Restrike threshold: 20%
    • Index: Solactive HG Copper Commodity Futures SL Index

    The Restrike Price per ETP Security has been calculated based on the Restrike Index Level.

    Terms used in this notice and not otherwise defined bear the same meanings as where used in the base prospectus of the Issuer dated 17 April 2025.

    Details of the Impacted Product are set out below:

    Product Name  ISIN  Exchange  Trading Currency  Exchange Code  SEDOL  Bloomberg Ticker  Reuters Instrument Code 
    WisdomTree Copper 3x Daily Leveraged IE00B8JVMZ80 Borsa Italiana EUR 3HCL BD3CT62 3HCL IM 3HCL.MI
    London Stock Exchange USD B8JVMZ8 3HCL LN 3HCL.L

    Further information is available on the website of WisdomTree Multi Asset Issuer PLC at www.wisdomtree.eu or by email to europesupport@wisdomtree.com.

    The MIL Network –

  • MIL-OSI Asia-Pac: Economy grows 3.1% in Q2

    Source: Hong Kong Information Services

    Hong Kong’s economy in the second quarter increased 3.1% year-on-year, picking up from the 3% growth in the preceding quarter.

     

    The Census & Statistics Department announced the figures today as it released its advance estimates on gross domestic product for the second quarter.

     

    According to the estimates, private consumption expenditure increased 1.9% in real terms in the second quarter.

     

    Government consumption expenditure grew 2.5% year-on-year.

     

    Gross domestic fixed capital formation rose 2.9% year-on-year.

     

    Over the same period, exports of goods increased 11.5%, accelerated further from the growth of 8.4% in the first quarter. Imports of goods grew 12.7%, higher than the increase of 7.2% in the first quarter.

     

    Compared with a year earlier, exports of services rose 7.5% in the second quarter, while imports of services went up 7%.

     

    Commenting on the figures, the Government said that during the second quarter, total exports of goods saw accelerated growth, as the external demand was resilient and the temporary easing of US tariff measures led to some rush shipments.

     

    Exports of services continued to expand notably, thanks to strong growth in inbound tourism, further expansion in cross-boundary traffic, and vibrant financial and related business service activities amid the buoyant local stock market.

     

    Domestically, private consumption expenditure resumed moderate growth after four consecutive quarters of decline, as supported by the stabilisation in the domestic consumption market. Meanwhile, overall investment expenditure increased further alongside the economic expansion.

     

    Hong Kong’s economy exhibited remarkable resilience in the first half of 2025.

     

    Looking ahead, steady economic growth in Asia, particularly in the Mainland, combined with the Government’s various measures to bolster consumption sentiment, attract investment, diversify markets, and promote economic growth, will continue to provide steadfast support for various segments of the Hong Kong economy.

     

    Nevertheless, uncertainties in the external environment remain elevated. The US’ renewed tariff hikes of late will exert pressure on global trade flows as well as its domestic economic activity and inflation. The uncertain pace of US interest rate cuts will also affect investment sentiment.

     

    Moreover, the “rush shipment” effect is expected to fade later this year.

     

    Hong Kong’s economic performance going forward will, to a certain extent, depend on how these factors evolve, the Government added.

    MIL OSI Asia Pacific News –

  • MIL-OSI: CMG Announces the Acquisition of SeisWare International Inc.

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, July 31, 2025 (GLOBE NEWSWIRE) — Computer Modelling Group Ltd. (“CMG” or the “Company”) (TSX: CMG) today announced the acquisition of SeisWare International Inc. (“SeisWare”), a software company specializing in geoscience solutions.

    Based in Calgary, Alberta, SeisWare develops geoscience interpretation and field development software to support subsurface exploration and development projects. SeisWare’s intuitive platform offers powerful tools for seismic interpretation, attribute analysis, geological mapping and 3D well design.

    “SeisWare reflects our disciplined approach in expanding our capabilities by acquiring high-quality software solutions,” stated Pramod Jain, CEO of CMG. “The company has earned a strong reputation and loyal customer base in Canada by delivering powerful, integrated geoscience tools alongside responsive and highly technical customer support. SeisWare is a platform acquisition for CMG which further builds out our seismic interpretation solutions and underscores our commitment to investing in businesses with the potential to deliver strong returns and long-term value.”

    In the twelve months ended March 31, 2025, SeisWare had unaudited revenue of approximately US$3.4 million consisting of all recurring software revenue.

    Total purchase price is estimated to be US$6.6 million and is subject to customary closing adjustments.

    The company is also pleased to announce that Herman Nieuwoudt, who joined the company as President of Bluware in November 2024, has been promoted to Executive Vice President and President, Seismic Solutions. In his new role, he will oversee all of the company’s seismic technologies and he will formally join the executive leadership team. SeisWare’s team of over 40 employees, located in Calgary and Houston, will join this seismic solutions group. Murray Brack, CEO of SeisWare, will join CMG as General Manager, SeisWare, reporting to Mr. Nieuwoudt.

    Commenting on the transaction, Murray Brack, CEO of SeisWare stated “Joining CMG is a natural next step for us, grounded in our shared Canadian roots and a mutual dedication to exceptional customer support. What makes it truly exciting is how well our values and vision align around our commitment to developing specialized, technical software that meets the evolving needs of the energy industry.”

    For more information on SeisWare, visit the website.

    About CMG

    CMG (TSX:CMG) is a global software and consulting company that combines science and technology with deep industry expertise to solve complex subsurface and surface challenges for the new energy industry around the world. CMG is headquartered in Calgary, AB, with offices in Houston, Oxford, Dubai, Bogota, Rio de Janeiro, Bengaluru, Kuala Lumpur, Oslo, Stavanger, and Kaiserslautern. For more information, please visit www.cmgl.ca.

    This press release contains “forward-looking statements”. Forward-looking statements can be identified by words such as: “aims”, “intend”, “can”, “goal”, “seek”, “believe”, “estimate”, “expect”, “strategy”, “future”, “likely”, “may”, “should”, “will”, and similar references to future periods.

    Forward-looking statements are neither historical facts nor assurances of future performance. They are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are detailed in the companies’ public filings.

    Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    The MIL Network –

  • MIL-OSI: BitMart Releases 2025 Mid-Year Report: Surpasses 12M Users Amid Market Challenges Through Innovation-Led Growth

    Source: GlobeNewswire (MIL-OSI)

    Mahe, Seychelles, July 31, 2025 (GLOBE NEWSWIRE) — Global crypto exchange BitMart has unveiled its 2025 Mid-Year Report, showcasing impressive growth driven by cutting-edge technology, smart product expansion, and a strong focus on emerging assets. Despite a broader industry slowdown marked by fragmented liquidity and tempered user growth, BitMart bucked the trend—crossing 12 million registered users globally and maintaining a top-tier position in trading volume and market share through consistent innovation and strategic development.

    As of the end of June 2025, BitMart’s global registered users surpassed 12 million, with market share and trading volumes continuing to rank among the top global exchanges.

    Technological Innovation Drives Growth

    In the first half of 2025, BitMart launched its third-generation trading system, designed around speed, stability, and scalability. The new system reduces order processing time to 2 milliseconds and supports up to 80,000 orders per second, ensuring uninterrupted, stable operations even during periods of high volatility. Its modular and scalable architecture not only supports rapid growth in trading volumes but also lays a solid foundation for future innovations such as AI-driven trading and intelligent analytics.

    Powered by a series of technological upgrades and product optimizations, BitMart achieved strong growth against market headwinds. Global registered users surpassed 12 million, up 20% from the previous period. Average daily spot trading volume rose by more than 120% over the previous half-year, with May alone posting a 128% surge — the fastest growth among major global exchanges. Futures trading volume also increased by 52%, further consolidating BitMart’s leading position in the derivatives market.

    Deepening Asset Discovery: A Hub for High-Quality Projects

    BitMart has consistently leveraged a rigorous asset screening process and deep industry insights to offer users a wide range of opportunities. In the first half of 2025, the platform listed 538 quality assets spanning sectors such as MEME, AI, RWA, DePIN, and GameFi, including 341 first launches, which accounted for 63%. These new listings delivered strong market performance, with 24 tokens gaining over 1,000%, 46 rising by more than 500%, and 154 increasing by over 100%; notably, 19 of the top 20 best-performing tokens were first launched on BitMart.

    In May, BitMart launched the BM Discovery Zone, dedicated to early-stage, high-potential on-chain projects. Combining real-time data and dynamic risk control, the zone offers users a secure and efficient way to access early assets. By the end of June, it had listed 50 tokens, attracted over 300,000 participants, and recorded trading volumes of more than 300 million USDT, highlighting BitMart’s strong capabilities in asset discovery.

    A Diversified Product Matrix Enhancing User Experience

    In the first half of 2025, BitMart not only made breakthroughs in its trading system and asset offerings but also carried out a comprehensive upgrade of its product matrix and service ecosystem, expanding across derivatives, wealth management, fiat services, and Web3 and AI innovations to deliver a richer and more efficient trading experience.

    In derivatives, supported by an advanced matching engine and deep liquidity, BitMart’s futures trading volume continued to grow, with 468 tokens now available. In May, the platform launched three major initiatives: a Slippage Protection Program that lowered the compensation threshold to 0.02%, an Elite Trader Program to incentivize top traders, and a Community Partner Program to expand global engagement. Combining strong technical infrastructure with incentive mechanisms, these programs have created a flywheel driven by technology, ecosystem, and liquidity, helping BitMart capture high-value opportunities in the derivatives market.

    In wealth management, BitMart introduced new products including a dedicated Wealth Zone and a Crypto Loans service, while optimizing the user interface and launching joint campaigns to offer users a variety of asset growth options. As a result, wealth management products have become increasingly attractive, with AUM rising 266% since the beginning of the year. Going forward, BitMart will continue to innovate and refine its wealth management offerings, empowering more users to achieve stable asset growth.

    Fiat services also saw rapid growth. P2P trading has been continuously optimized, with transaction volume up 253%, orders up 67%, and the share of first-time buyers increasing by 54%. The newly launched card purchase service supports Visa, MasterCard and other major payment channels, covering 40+ countries and regions and supporting 20+ local fiat currencies. In the first half of the year, transaction volume grew more than 4.6 times, with both first-purchase and repeat-purchase rates showing significant improvement. As more local payment and fiat channels are added, BitMart will continue to expand in regulated markets and improve the payment experience, enabling global users to enter the market with zero barriers.

    In the area of Web3 and AI innovation, BitMart launched DEX+, overcoming the limitations of traditional single-chain DEX platforms and complex operations by supporting real-time discovery and convenient trading across multiple chains. Meanwhile, new AI-powered tools such as X Insight and Beacon have also been introduced, making investment decisions more efficient and intelligent.

    Expansion of the BMX Ecosystem

    BitMart’s platform token BMX continued to advance across multiple dimensions, including operational strategies, product integration, and community development, driving steady growth of the platform’s ecosystem. With the ongoing deflationary mechanism, BMX’s circulation structure has been further optimized and overall trading activity remains stable. Through regular trading competitions, VIP flash sales, anniversary campaigns and other initiatives, BMX’s use cases and user engagement have been continuously enhanced. At the same time, BitMart plans to expand additional features around payments and wallet ecosystems, such as cashback rewards and staking yields, to further strengthen the financial attributes and ecosystem value of BMX.

    Steady Progress in Global Compliance

    In the first half of 2025, building on its global presence, BitMart further increased investment in compliance development and reached strategic partnerships with leading local compliance service providers worldwide, aiming to build a more robust, transparent, and sustainable compliance framework. This cooperation covers clearing, custody, trading, and licensing compliance, aiming to provide higher compliance standards for the platform. The related systems have now entered the integration testing phase and are expected to officially launch services for major regulated markets worldwide by the end of this year. This will mark an important milestone in BitMart’s global compliance strategy and represent a critical step toward connecting global users with compliant markets.

    Building Long-Term Competitiveness

    With strong innovation and deep market insight, BitMart achieved significant breakthroughs in the first half of 2025. From rapid global user growth to deeper asset discovery and issuance capabilities, as well as the introduction of innovative products and major technology upgrades, BitMart has consistently maintained a leading position. Looking ahead, BitMart will continue to deepen technological innovation, enhance platform products, and provide smarter and more personalized services to meet the increasingly diverse needs of global users, contributing to the sustained growth and prosperity of the ecosystem.

    Full Report: https://bitmart.zendesk.com/hc/en-us/articles/39435771069211

    About BitMart

    BitMart is a premier global digital asset trading platform with more than 12 million users worldwide. Consistently ranked among the top crypto exchanges on CoinGecko, BitMart offers over 1,700 trading pairs with competitive fees. Committed to continuous innovation and financial inclusivity, BitMart empowers users globally to trade seamlessly. Learn more about BitMart at Website, follow their X (Twitter), or join their Telegram for updates, news, and promotions. Download BitMart App to trade anytime, anywhere.

    Disclaimer:

    The information provided is for informational purposes only and should not be considered a recommendation to buy, sell, or hold any financial assets. All information is provided in good faith. However, we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of such information.

    All crypto investments, including earnings, are highly speculative in nature and involve substantial risk of loss. Past, hypothetical, or simulated performance is not necessarily indicative of future results. The value of digital currencies can go up or down and there can be a substantial risk in buying, selling, holding, or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment objectives, financial circumstances, and risk tolerance. BitMart does not provide any investment, legal or tax advice.

    The MIL Network –

  • MIL-OSI: Audacity Capital Brings Tailored Features to Prop Contests and Trading with DXtrade

    Source: GlobeNewswire (MIL-OSI)

    London, UK, July 31, 2025 (GLOBE NEWSWIRE) — Leading prop trading firm, Audacity Capital, has announced its licensing of DXtrade, the flagship trading platform from global software developer for the capital markets, Devexperts.

    Audacity Capital, which partners with disciplined, high-performance traders to unlock global market opportunities, will now offer its traders the option to trade using DXtrade, giving them access to a range of tailored features designed to enhance the trading experience. 

    With over 300,000 traders funded since 2012 and offering funded accounts up to $2m, Audacity Capital focuses on developing fast scaling programs and payout structures with a view to being a long term partner in trader success. The firm places an emphasis on transparency, personalization, and bespoke support.

    With DXtrade, which is available off-the-shelf in partly or fully customizable form, Audacity Capital will be able to deliver on these aims by providing its traders with a comprehensive suite of tools and features to enhance their prop trading experience, including an easy-to-navigate and intuitive interface with trading layout customization optionality; a performance dashboard to analyze performance, risk / reward ratios, win rates, and winning / losing trade holding times; an embedded trading journal, economic calendar, and multi-view watchlists; advanced charting library with responsive charting functionality; and all necessary order risk management settings.

    Traders can also benefit from Stop Loss and Take Profit settings, as well as order types and execution methods for all trading styles.

    Through its licensing of DXtrade, Audacity Capital will also be able to benefit from a variety of risk management capabilities to help manage traders and day-to-day activities. These include maximum drawdown and profit target, as well as real-time performance and rule adherence monitoring; support for group management; and integrated trading contest software, with fully adjustable settings along with leaderboards and shareable results.

    DXtrade also offers turnkey integration with any payment provider; custom prop plan, rules and metrics functionality; and full CRM connectivity.

    Karim Yousfi, CEO of Audacity Capital, says: “We’re excited to partner with DXtrade to bring our traders a powerful, flexible platform tailored to the demands of modern trading. This collaboration enhances our ability to support ambitious traders with the best tools available.”

    Jon Light, Head of OTC Platform at Devexperts, says: “Audacity Capital has built a strong reputation for finding and partnering with talented traders for the long term. We similarly look to build long-term relationships with our clients and know that offering an excellent service is a vital factor in doing so. We are therefore very pleased that Audacity has opted to license DXtrade and its comprehensive range of features designed to optimize the prop trading experience for firm and trader alike. As Audacity continues to grow, we look forward to our ongoing work together to deliver an intuitive and seamless experience. ”

    About Audacity Capital

    Founded in 2012, Audacity Capital is one of the longest standing and most trusted proprietary trading firms in the industry. With a mission to empower skilled traders globally, we offer fully funded accounts, no risk trading models, and tailored support to help traders reach their full potential. Having funded over 300,000 traders across 100+ countries, we’ve built a reputation for transparency, performance, and long term trader success.

    About Devexperts

    Devexperts has been developing software for the capital markets since 2002. The company’s flagship solution is DXtrade, a multi-asset platform for banks, brokerages, and wealth managers, serving customers across stocks, options, futures, ETFs, mutual bonds, FX, CFDs, and margin and spot crypto. With headquarters in Ireland, Devexperts’ development team consists of 800+ engineers located in offices in the USA, Germany, Bulgaria, Singapore, Portugal, Turkey, and Georgia. Learn more at: https://devexperts.com.

    The MIL Network –

  • MIL-OSI: Codere Online Reports Financial Results for the Second Quarter 2025

    Source: GlobeNewswire (MIL-OSI)

    • Total revenue was €51.4 mm in Q2 2025, while net gaming revenue1 was €54.8 mm in the period, 1% above Q2 2024 (12% in constant currency terms).
    • Mexico revenue was €26.3 mm in Q2 2025, while net gaming revenue was €29.0 mm in the period, 3% above Q2 2024 (23% in constant currency terms).
    • Net loss was €3.1 mm in H1 2025 versus a net loss of €0.2 mm in H1 2024 primarily due to the impact from exchange rates (€3.0 mm loss in H1 2025 versus €4.8 mm gain in H1 2024).
    • Total cash position of €45.2 mm as of June 30, 2025.
    • Reiterating 2025 net gaming revenue outlook of €220-230 million and Adj. EBITDA2 outlook of €10-15 million.
    • Repurchased $0.7 million of the Company’s shares under the Company’s $5.0 million share buyback plan through July 30, 2025.

    Madrid, Spain and Tel Aviv, Israel, July 31, 2025 – (GLOBE NEWSWIRE) Codere Online (Nasdaq: CDRO / CDROW, the “Company”), a leading online gaming operator in Spain and Latin America, has released its preliminary unaudited3 financial results for the quarter ended June 30, 2025.

    Below are the main financial and operating metrics of the period.

      Quarter ended June 30   Six months ended June 30
      2024 2025 Chg. %   2024 2025 Chg. %
                   
    Net Gaming Revenue (EUR mm)1              
    Spain 21.8 22.1 1%   44.1 44.0 (0%)
    Mexico 28.2 29.0 3%   54.8 59.5 9%
    Other 4.4 3.7 (16%)   8.5 8.2 (4%)
    Total 54.4 54.8 1%   107.4 111.8 4%
                   
    Avg. Monthly Active Players (000s)4              
    Spain 51.5 49.7 (3%)   50.8 50.9 0%
    Mexico 62.3 84.6 36%   62.4 83.3 33%
    Other 31.8 20.8 (35%)   31.2 24.0 (23%)
    Total 145.6 155.1 7%   144.4 158.2 10%

    Aviv Sher, CEO of Codere Online, stated, “Our net gaming revenue reached €54.8 million in the second quarter of 2025, slightly above the prior year period despite the headwinds we faced across most of our markets. In Mexico, we were successful in growing net gaming revenue despite the 19% devaluation of the Mexican peso and grew our portfolio of active customers in the country by an impressive 36% versus Q2 2024.”

    Oscar Iglesias, CFO of Codere Online, commented, “We continue to see strong underlying trends in Mexico, where our net gaming revenue grew by 23% in local currency. With the first half of the year now behind us, and notwithstanding that a number of challenges still remain, we continue to expect to meet our net gaming revenue outlook of €220-230 million and Adj. EBITDA outlook of €10-15 million that we shared earlier this year.”

    Recent Events

    Compliance with Nasdaq Listing Requirements

    • On June 2nd the Company filed its 2024 annual report and on June 6th, Nasdaq informed the Company that it had regained compliance with applicable listing requirements.
    • As a result, the Company’s securities will continue to be listed and traded on the Nasdaq Capital Market and are no longer subject to a delisting process.

    Repurchases under the Share Buyback Plan

    • The Company has repurchased $0.7 million of the Company’s shares at an average price of $6.89 per share under its $5.0 million authorized share buyback plan through July 30, 2025.
    • The plan (as approved by shareholders) authorizes the Company to repurchase up to 1 million of its ordinary shares and expires on March 3, 2026.

    Conference Call Information

    Codere Online’s management will host a conference call to discuss the results and provide a business update at 8:30 am US Eastern Time today, July 31, 2025. Dial-in details as well as the audio webcast and presentation will be accessible on Codere Online’s website at www.codereonline.com. A recording of the webcast will also be available following the conference call.

    Reconciliation of Revenue (IFRS) to Net Gaming Revenue (non-IFRS)

      Quarter ended June 30   Six months ended June 30
    Figures in EUR mm 2024 2025 Chg. %   2024 2025 Chg. %
                   
    Total              
                   
    Revenue 51.7 51.4 (1%)   102.1 105.7    4%
    (+) Accounting Adjustments5 2.7 3.5 30%   5.3 6.1    15%
    Net Gaming Revenue 54.4 54.8 1%   107.4 111.8 4%
                   
    Spain              
                   
    Revenue 21.8 22.1 1%   44.1 44.0 (0%)
    (+) Accounting Adjustments5 – – n.m.   – – n.m.
    Net Gaming Revenue 21.8 22.1 1%   44.1 44.0 (0%)
                   
    Mexico              
                   
    Revenue 25.3 26.3 4%   49.2 53.9 10%
    (+) Accounting Adjustments5 2.9 2.7 (7%)   5.6 5.6 –
    Net Gaming Revenue 28.2 29.0 3%   54.8 59.5 9%
                   
    Other              
                   
    Revenue 4.5 3.0 (33%)   8.8 7.8 (11%)
    (+) Accounting Adjustments5 (0.1) 0.7 n.m.   (0.3) 0.4 n.m.
    Net Gaming Revenue 4.4 3.7 (16%)   8.5 8.2 (4%)

    Reconciliation of Net Income (IFRS) to Adj. EBITDA (non-IFRS)5

      Quarter ended June 30   Six months ended June 30
    Figures in EUR mm 2024 2025 Chg.   2024 2025 Chg.
                   
    Net Income (Loss) (3.7) (2.4) 1.2   (0.2) (3.1) (2.8)
    (+/-) Provision for Corporate Income Tax 0.4 1.1 0.6   0.9 1.3 0.3
    (+/-) Interest Expense / (Income) (0.0) 1.9 2.0   (4.8) 3.0 7.8
    (+/-) Var. in Fair Value of Public Warrants 3.9 1.3 (2.5)   5.8 1.9 (3.9)
    (+) D&A 0.1 0.2 0.1   0.1 0.3 0.2
    EBITDA 0.7 2.1 1.4   1.7 3.4 1.7
    (+) Employee LTIP Expense 0.6 (0.9) (1.4)   1.1 (0.4) (1.5)
    (+/-) Other Accounting Adjustments 0.0 0.0 (0.0)   0.2 0.1 (0.1)
    Adj. EBITDA (Pre Non-Recurring Items) 1.3 1.3 (0.0)   3.0 3.1 0.0
    (+) Non-Recurring Items 0.0 1.1 1.1   0.0 1.1 1.1
    Adj. EBITDA 1.3 2.3 1.1   3.0 4.1 1.1

    About Codere Online 

    Codere Online refers, collectively, to Codere Online Luxembourg, S.A. and its subsidiaries. Codere Online, launched in 2014 as part of the renowned casino operator Codere Group, offers online sports betting and online casino through its state-of-the art website and mobile applications. Codere Online currently operates in its core markets of Spain, Mexico, Colombia, Panama and Argentina; this online business is complemented by Codere Group’s physical presence in Spain and throughout Latin America, forming the foundation of the leading omnichannel gaming and casino presence.

    About Codere Group
    Codere Group is a multinational group devoted to entertainment and leisure. It is a leading player in the private gaming industry, with four decades of experience and with presence in seven countries in Europe (Spain and Italy) and Latin America (Argentina, Colombia, Mexico, Panama, and Uruguay).

    Note on Rounding. Due to decimal rounding, numbers presented throughout this report may not add up precisely to the totals and subtotals provided, and percentages may not precisely reflect the absolute figures.

    Forward-Looking Statements
    Certain statements in this document may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding Codere Online Luxembourg, S.A. and its subsidiaries (collectively, “Codere Online”) or Codere Online’s or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this document may include, for example, statements about Codere Online’s financial performance and, in particular, the potential evolution and distribution of its net gaming revenue; any prospective and illustrative financial information; and changes in Codere Online’s strategy, future operations and target addressable market, financial position, estimated revenues and losses, projected costs, prospects and plans.

    These forward-looking statements are based on information available as of the date of this document and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing Codere Online’s or its management team’s views as of any subsequent date, and Codere Online does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

    As a result of a number of known and unknown risks and uncertainties, Codere Online’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements. There may be additional risks that Codere Online does not presently know or that Codere Online currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Some factors that could cause actual results to differ include (i) changes in applicable laws or regulations, including online gaming, privacy, data use and data protection rules and regulations as well as consumers’ heightened expectations regarding proper safeguarding of their personal information, (ii) the impacts and ongoing uncertainties created by regulatory restrictions, changes in perceptions of the gaming industry, changes in policies and increased competition, and geopolitical events such as war, (iii) the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities, (iv) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Codere Online operates, (v) the risk that Codere Online and its current and future collaborators are unable to successfully develop and commercialize Codere Online’s services, or experience significant delays in doing so, (vi) the risk that Codere Online may never achieve or sustain profitability, (vii) the risk that Codere Online will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all, (viii) the risk that Codere Online experiences difficulties in managing its growth and expanding operations, (ix) the risk that third-party providers, including the Codere Group, are not able to fully and timely meet their obligations, (x) the risk that the online gaming operations will not provide the expected benefits due to, among other things, the inability to obtain or maintain online gaming licenses in the anticipated time frame or at all, (xi) the risk that Codere Online is unable to secure or protect its intellectual property, (xii) the risk that Codere Online’s securities may be delisted from Nasdaq and (xiii) the possibility that Codere Online may be adversely affected by other political, economic, business, and/or competitive factors. Additional information concerning certain of these and other risk factors is contained in Codere Online’s filings with the U.S. Securities and Exchange Commission (the “SEC”). All subsequent written and oral forward-looking statements concerning Codere Online or other matters and attributable to Codere Online or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.

    Financial Information and Non-GAAP Financial Measures
    Codere Online’s financial statements are prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”), which can differ in certain significant respects from generally accepted accounting principles in the United States of America (“U.S. GAAP”).

    This document includes certain financial measures not presented in accordance with U.S. GAAP or IFRS (“non-GAAP”), such as, without limitation, net gaming revenue, Adjusted EBITDA and constant currency information. These non-GAAP financial measures are not measures of financial performance in accordance with U.S. GAAP or IFRS and may exclude items that are significant in understanding and assessing Codere Online’s financial results. Therefore, these measures should not be considered in isolation or as an alternative to revenue, net income, cash flows from operations or other measures of profitability, liquidity or performance under U.S. GAAP or IFRS. You should be aware that Codere Online’s presentation of these measures may not be comparable to similarly-titled measures used by other companies. In addition, the audit of Codere Online’s financial statements in accordance with PCAOB standards, may impact how Codere Online currently calculates its non-GAAP financial measures, and we cannot assure you that there would not be differences, and such differences could be material.

    Codere Online believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends in comparing Codere Online’s financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. These non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. Reconciliations of non-GAAP financial measures to their most directly comparable measure under IFRS are included herein.

    This document may include certain projections of non-GAAP financial measures. Codere Online is unable to quantify certain amounts that would be required to be included in the most directly comparable U.S. GAAP or IFRS financial measures without unreasonable effort, due to the inherent difficulty and variability of accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such comparable measures or such reconciliation that have not yet occurred, are out of our control, or cannot be reasonably predicted, ascertained or assessed, which could have a material impact on its future IFRS financial results. Consequently, no disclosure of estimated comparable U.S. GAAP or IFRS measures is included and no reconciliation of the forward-looking non-GAAP financial measures is included.

    Use of Projections
    This document contains financial forecasts with respect to Codere Online’s business and projected financial results, including net gaming revenue and adjusted EBITDA. Codere Online’s independent auditors have not audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this document, and accordingly, they did not express an opinion or provide any other form of assurance with respect thereto for the purpose of this document. These projections should not be relied upon as being necessarily indicative of future results. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. See “Forward-Looking Statements” above. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of Codere Online or that actual results will not differ materially from those presented in the prospective financial information. Inclusion of the prospective financial information in this document should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved.

    For further information on the limitations and assumptions underlying these projections, please refer to Codere Online’s filings with the SEC.

    Preliminary Information
    This document contains figures, financial metrics, statistics and other information that is preliminary and subject to change (the “Preliminary Information”). The Preliminary Information has not been audited, reviewed, or compiled by any independent registered public accounting firm. This Preliminary Information is subject to ongoing review including, where applicable, by Codere Online’s independent auditors. Accordingly, no independent registered public accounting firm has expressed an opinion or any other form of assurance with respect to the Preliminary Information. During the course of finalizing such Preliminary Information, adjustments to such Preliminary Information presented herein may be identified, which may be material. Codere Online undertakes no obligation to update or revise the Preliminary Information set forth in this document as a result of new information, future events or otherwise, except as otherwise required by law. The Preliminary Information may differ from actual results. Therefore, you should not place undue reliance upon this Preliminary Information. The Preliminary Information is not a comprehensive statement of financial results, and should not be viewed as a substitute for full financial statements prepared in accordance with IFRS. In addition, the Preliminary Information is not necessarily indicative of the results to be achieved in any future period.

    No Offer or Solicitation
    This document does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

    Trademarks
    This document may contain trademarks, service marks, trade names and copyrights of Codere Online or other companies, which are the property of their respective owners. Solely for convenience, some of the trademarks, service marks, trade names and copyrights referred to in this document may be listed without the TM, SM, © or ® symbols, but Codere Online will assert, to the fullest extent under applicable law, the rights of the applicable owners, if any, to these trademarks, service marks, trade names and copyrights.

    Industry and Market Data
    In this document, Codere Online relies on and refers to certain information and statistics obtained from publicly available information and third-party sources, which it believes to be reliable. Codere Online has not independently verified the accuracy or completeness of any such publicly-available and third-party information, does not make any representation as to the accuracy or completeness of such data and does not undertake any obligation to update such data after the date of this document. You are cautioned not to give undue weight to such industry and market data.

    Contacts:

    Investors and Media
    Guillermo Lancha
    Director, Investor Relations and Communications
    Guillermo.Lancha@codereonline.com
    (+34) 628.928.152

    1 Net Gaming Revenue is a non-IFRS measure; please see reconciliation of Net Gaming Revenue to Revenue at the end of the report.

    2 Adjusted EBITDA is a non-IFRS measure; please see reconciliation of Adjusted EBITDA to Net Income at the end of the report. Net gaming revenue and Adjusted EBITDA outlooks are forward-looking non-IFRS measures; please see important disclaimers at the end of the report.
    3 See “Preliminary Information” below.        

    4 Average Monthly Active Players include real money (i.e. exclude free bets) sports betting and casino actives.

    5 Figures primarily reflect differences in recognition of revenue related to certain partner and affiliate agreements in place in Colombia, VAT impact from entry fees in Mexico and the impact from the application of inflation accounting (IAS 29) in Argentina.
    5 Please refer to page 26 of our Q2 2025 Earnings Presentation for further details regarding this reconciliation.

    The MIL Network –

  • MIL-OSI: ACTFORE Secures Patent for Intelligent Data Extraction from Unstructured Documents, Revolutionizing Breach Response

    Source: GlobeNewswire (MIL-OSI)

    RESTON, Va., July 31, 2025 (GLOBE NEWSWIRE) — ACTFORE, a leading provider of AI-powered breach response and data mining solutions, announced today the company has been granted a patent from the United States Patent and Trademark Office for its proprietary technology enabling targeted data extraction from unstructured document sets, a first-of-its kind patent in the data mining industry.

    Unlike many industries, the data mining and breach response fields have historically lacked patentable innovations due to their reliance on human-driven workflows and off-the-shelf automation. ACTFORE’s achievement represents a major advancement in automated breach response workflows: the first recognized patent for precision data extraction designed specifically to efficiently and accurately extract sensitive data from massive, unstructured information environments following a breach.

    “This patent isn’t just a milestone for ACTFORE, but for the entire industry,” said CEO Christian Geyer. “In a space where most work is still done manually or through tedious and inaccurate workflows, we’ve introduced a scalable, intelligent solution that truly learns and adapts and can work alongside our team of onshore experts to create an approach that merges manual precision with deep learning to create a hybrid workflow that is both fast and legally defensible.”

    The patent, “Techniques for Targeted Data Extraction from Unstructured Sets of Documents”, refers to ACTFORE’S dynamic interface that allows operators to define “visual boxes” around regions of interest on a document page, then automatically propagate those selections across structurally similar files using deep learning and FAISS-based clustering. Paired with advanced optical character recognition (OCR), the system can extract high-fidelity text, even from scanned or non-machine-readable documents. This allows for targeted, scalable parsing with minimal redundancy and dramatically reduced review time.

    “We’ve essentially built a facial recognition system, but for document layouts,” said Yumna Zaidi, Innovations Team Lead at ACTFORE and Lead Inventor on the patent. “Our tech creates unique embedding vectors for each document structure, letting us match and process them with unprecedented speed and accuracy.”

    This combination of automation and expert-driven human review ensures that sensitive information such as names, account numbers, or health data can be extracted quickly, accurately, and consistently, even across large and messy data sets.

    “Data breaches happen in chaotic, inconsistent environments and ACTFORE is built to handle the complexity,” added Dhiraj Sharma, Senior Data Scientist and Co-Inventor. “By integrating the latest automation and data mining tools with human judgment, we’re able to respond more efficiently and accurately than traditional methods. That’s where this patent truly delivers value.”

    The platform supports a wide range of document types—including unstructured and semi-structured PDFs, images, and text files—and automatically preserves selected coordinates for batch processing at scale. This not only accelerates review but also ensures consistent, defensible results across complex, multi-jurisdictional engagements.

    “We didn’t just apply automation for the sake of speed. We designed a product that understands the complexity of each task and empowers humans to make better decisions, faster,” said Sanskriti Shivhare, Team Lead and Co-Inventor.

    This newly issued patent strengthens ACTFORE’s growing intellectual property portfolio and reflects its continued investment in transforming breach response through applied AI. As data breach volumes rise and regulatory timelines tighten, ACTFORE’s patented technology sets a new industry benchmark for intelligent, scalable remediation.

    About ACTFORE
    ACTFORE delivers advanced AI/ML-powered data mining solutions for legal counsel, insurance carriers, and corporations, specializing in swiftly detecting and uncovering compromised sensitive information in cyber breaches. Capable of processing over 1 million files per hour, ACTFORE’s on-premises, on-shore, technology-first approach offers the fastest and most accurate assessments, enabling clients to quickly understand the scope of exfiltration, mitigate risk, and make informed decisions about ransom payments. Clients maintain full control of their data through ACTFORE’s secure lab or local deployment options. Trusted by over 25 insurance carriers and 35 law firms, including premier Am Law 100 firms, ACTFORE sets the new standard in incident response and data forensics. For more information, please visit www.actfore.com.

    Press Contact:

    Gilda Safowaa
    Communications & Content Strategist
    240-482-9570
    Gilda.Safowaa@actfore.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6ab26563-863e-4323-9b45-45a6c178bd92

    The MIL Network –

  • MIL-OSI: Firm Capital Property Trust Announces Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, July 31, 2025 (GLOBE NEWSWIRE) — Firm Capital Property Trust (“FCPT” or the “Trust”), (TSX: FCD.UN) announced today that the Toronto Stock Exchange (the “TSX”) has accepted a notice filed by FCPT of its intention to make a normal course issuer bid (the “NCIB”) with respect to its outstanding trust units.

    The notice provides that FCPT may, during the 12 month period commencing August 5, 2025 and ending no later than August 4, 2026, purchase through the facilities of the TSX and/or alternative Canadian Trading Systems up to 3,266,775 trust units in total, being 10% of the “public float” of trust units as of July 28, 2025. The price which FCPT will pay for any trust units will be the market price at the time of acquisition. During the period of this NCIB, FCPT may make purchases under the NCIB by means of open market transactions. The actual number of trust units which may be purchased pursuant to the NCIB and the timing of any such purchases will be determined by senior management of FCPT. The average daily trading volume on the TSX from January 1, 2025 to June 30, 2025 was 24,867 trust units. Daily purchases under the NCIB will be limited to 6,216 trust units, other than block purchases. All trust units purchased by FCPT under the NCIB will be cancelled.

    As of July 28, 2025, there were 36,925,682 trust units of FCPT outstanding, and the public float was 32,667,751 trust units.

    FCPT believes that its trust units may from time to time trade in a price range that does not adequately reflect the value of such units in relation to the business of FCPT and its future business prospects. As a result, depending upon future price movements and other factors, FCPT believes that the outstanding trust units may represent an attractive investment to FCPT. Furthermore, purchases of trust units are expected to benefit all persons who continue to hold trust units by increasing their equity interest in FCPT.

    Pursuant to a previous notice of intention to conduct a NCIB, FCPT sought and received approval from the TSX to purchase up to 3,281,995 trust units through open market purchases on the TSX and alternative Canadian trading systems for the period of July 18, 2024 to July 17, 2025. FCPT did not purchase for cancellation any of its trust units under this prior normal course issuer bid.

    ABOUT FIRM CAPITAL PROPERTY TRUST (TSX : FCD.UN)

    Firm Capital Property Trust is focused on creating long-term value for Unitholders, through capital preservation and disciplined investing to achieve stable distributable income. In partnership with management and industry leaders, the Trust’s plan is to own as well as to co-own a diversified property portfolio of multi-residential, flex industrial and net lease convenience retail. In addition to stand alone accretive acquisitions, the Trust will make joint acquisitions with strong financial partners and acquisitions of partial interests from existing ownership groups, in a manner that provides liquidity to those selling owners and professional management for those remaining as partners. Firm Capital Realty Partners Inc., through a structure focused on an alignment of interests with the Trust sources, syndicates and property and asset manages investments on behalf of the Trust.

    FORWARD LOOKING INFORMATION

    This press release contains contain forward-looking statements within the meaning of applicable securities laws including, among others, statements relating to future purchases of trust units under the NCIB. In some cases, forward-looking statements can be identified by the use of words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “continue”, and by discussions of strategies that involve risks and uncertainties. The forward-looking statements are based on certain key expectations and assumptions made by the Trust. By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Although management of the Trust believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that future results, levels of activity, performance or achievements will occur as anticipated. These statements are not guarantees and are based on our estimates and assumptions that are subject to risks and uncertainties. These risks include, but are not limited to, risks associated with the Trust’s financial condition and prospects; the stability of general economic and market conditions; interest rates; the underlying value of the Trust and its trust units; the ability of the Trust to complete purchases under the NCIB; the availability of cash for repurchases of outstanding trust units under the NCIB; the existence of alternative uses for the Trust’s cash resources which may be superior to effecting repurchases under the NCIB; compliance by third parties with their contractual obligations; compliance with applicable laws and regulations pertaining to the NCIB; and other risks related to the Trust’s business, including those described in the Trust’s Annual Information Form for the year ended December 31, 2024 under “Risks and Uncertainties” (a copy of which can be obtained at www.sedar.com). Neither the Trust nor any other person assumes responsibility for the accuracy and completeness of any forward-looking statements, and no one has any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or such other factors which affect this information, except as required by law.

    Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release. Additional information about the Trust is available at www.firmcapital.com or www.sedarplus.ca.

    For further information, please contact:
       
    Robert McKee
    President & Chief Executive Officer
    (416) 635-0221      		 Sandy Poklar
    Chief Financial Officer
    (416) 635-0221
       
    For Investor Relations information, please contact:
       
    Victoria Moayedi
    Director, Investor Relations
    (416) 635-0221    		  
       

    The MIL Network –

  • MIL-OSI Economics: Monthly Data on India’s International Trade in Services for the Month of June 2025

    Source: Reserve Bank of India

    The value of exports and imports of services during June 2025 is given in the following table.

    International Trade in Services
    (US$ million)
    Month Receipts (Exports) Payments (Imports)
    April – 2025 32,843
    (8.8)    		 16,909
    (0.9)
    May – 2025 32,452
    (9.6)    		 16,694
    (-1.1)
    June – 2025 32,105
    (12.0)    		 15,897
    (5.0)
    Note: Figures in parentheses are growth rates over the corresponding month of the previous year which have been revised on the basis of balance of payments statistics.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/817

    MIL OSI Economics –

  • MIL-OSI Africa: Labour 20 Summit places fairness under the spotlight 

    Source: Government of South Africa

    Labour 20 Summit places fairness under the spotlight 

    Employment and Labour Deputy Minister Jomo Sibiya has called for the dismantling of the misconception that competitiveness and fairness cannot co-exist in the global labour market.

    The Deputy Minister was delivering remarks at the Labour 20 (L20) South Africa 2025 Summit. 

    “Let us be clear: fair wages, decent work and strong social protection are not barriers to growth, but they are the foundations of resilient , future ready economies. The anticipated Employment Working Group declaration lays groundwork for these efforts.

    “It recognises that full and productive employment, adequacy and sustainability of social protection systems, wage settings mechanisms, grounded in rights and fairness, are essential to build a just and inclusive societies. It calls on all of us to expand formalisation and reverse decoupling of wages from productivity,” Sibiya said on Tuesday.

    The summit was held under the theme: ‘Fostering solidarity, equality and sustainability through a new social compact”.

    The L20 represents workers’ interests at the G20 level, bringing together trade union representatives from G20 countries and international trade union federations. It is coordinated by the International Trade Union Confederation (ITUC) and the Trade Union Advisory Committee (TUAC) of the Organisation for Economic Cooperation and Development (OECD). 

    The G20 labour component has also been active since the global financial crisis in 2008.

    Through its existence, L20 aims to ensure that the voices of workers are heard in discussions on issues of economic policies and labour rights. South Africa’s labour federations – Congress of South African Trade Unions (Cosatu),  Federation of Unions of South Africa (Fedusa), National Council of Trade Unions (Nactu) and the South African Federation of Trade Unions Saftu – attended the summit.

    Sibiya commended the L20’s commitment to tackling major labour market challenges, including inequality, declining real wages, and the shrinking labour income share of gross domestic product (GDP). 

    “The issues strike at the very heart of our societies and also manifest in growing hardship for working families, the erosion of social cohesion as well as pervasive sense among workers that growth is no longer working for them.

    “For the global south, the value of labour has been steadily diminishing. Productivity had risen but workers, particularly those at the lower end of the wage distribution, have not benefitted. The disconnect between the creation of wealth and its distribution is not only unjust, but also unsustainable.”

    Priorities 

    Sibiya said South Africa’s employment track has been anchored in four key priorities:
    •    Promoting inclusive growth and youth employment to ensure that every young person has access to a decent job.
    •    Accelerating gender equality in the workforce by addressing systemic barriers to women’s full and equal participation.
    •    Reversing the decline in labour income share, so that workers regain the dignified and fair share of the value they help to generate.
    •    Harnessing digitalisation to create an inclusive future of work rather than deepening the digital divide.

    “Genuine economic growth is closely tied to decent work. This calls for us to actively shape policies and institutions to achieve fair labour market results, necessitates establishing wage systems whether through legislation or collective bargaining that assure a living wage, alongside investment and social protection for life-long income, security and strengthen social dialogue to empower both workers and employers,” he said. 

    The importance of financial literacy among workers was also emphasised with the Deputy Minister saying there is a need to “capacitate workers of the world on how to take responsibility of their livelihood, making sure that they use their hard-earned salaries properly.” 

    He added that South Africa’s own experiences offered valuable lessons in addressing inequality and unemployment.
    According to Sibiya, social partners continue to play a vital role in shaping labour market reforms – this amidst structural constraints. 

    “We strongly believe that when working together as government with social partners that is where solutions can be found. Our work is far from over. We must recommend social justice in our economic strategies,” he said. 

    The L20 component engagements were also held alongside the 4th G20 Employment Working Group meeting held at Fancourt in George earlier this week. 

    The aim of the L20 session was to have a dialogue between trade unions and certain G20 labour and employment Ministers to discuss joint approaches to tackling inequality, fostering wage increases, and increasing the labour income share, as a key priority of this year’s employment track. – SAnews.gov.za

    DikelediM

    MIL OSI Africa –

  • MIL-OSI United Kingdom: TRA launches Trade Remedies Advisory Service

    Source: United Kingdom – Executive Government & Departments

    News story

    TRA launches Trade Remedies Advisory Service

    A new Trade Remedies Advisory Service will provide improved support for businesses navigating trade remedies investigations.

    The Trade Remedies Authority (TRA) has today (31 July) launched the Trade Remedies Advisory Service to provide support for UK businesses navigating trade remedies investigations.

    The service will build on support previously provided by the TRA’s Pre-Application Office, simplifying how businesses can bring a case to the TRA to investigate a potential trade injury. It also aims to increase engagement with small and medium enterprises. The new service will provide a simplified application and questionnaire process that makes it quicker and less onerous for new businesses who want to bring a case to TRA. It is being launched as part of the TRA’s work to make its investigations more accessible to case participants, as part of the 2025 Trade Strategy.

    TRA Chief Executives Jessica Blakely and Carmen Suarez said:

    We’re committed to ensuring that UK businesses of all sizes have the support they need to navigate trade remedies investigations effectively. The expanded Trade Remedies Advisory Service represents a significant step forward, moving to a more proactive engagement with industry throughout the entire case lifecycle. This change responds to feedback from businesses who told us they need more comprehensive guidance and ongoing support. By updating processes and expanding the specialist team, we’re committed to making it easier for companies to access support if they face unfair trading practices.

    The Trade Remedies Advisory Service increases support beyond traditional pre-application guidance. Assistance is now available from initial enquiries through to final determinations, with dedicated specialists for producers, importers and SMEs addressing sector-specific challenges. 

    Three strategic areas define the service’s enhanced capabilities:  

    • Clear guidance through webinars, factsheets and interactive workshops targeting diverse industry sectors.
    • Enhanced data monitoring to identify emerging trade concerns and industries requiring additional support.
    • Streamlined application procedures, interactive guidance tools and dedicated industry support.

    Feedback from industry stakeholders made it clear that ongoing support throughout a case’s lifecycle is vital, and this has directly influenced the redesign of the service. The expanded Trade Remedies Advisory Service team now includes additional specialists who recognise the needs of different interested parties, particularly SMEs. Regular drop-in sessions and process guidance workshops will also help stakeholders submit high-quality responses while freeing case teams to focus on core investigative functions.

    A spokesperson from a UK producer who has been involved in a TRA investigation said:

    Today’s announcement is a much-needed step to ensure every business, especially our small and medium-sized enterprises, can grow and prosper. We understand, first-hand, how daunting a TRA investigation can appear , and the enhanced function will be instrumental in guiding businesses through the process to ensure their voice is heard. We also welcome their commitment to using data to identify industries at risk and potentially requiring trade measures. This will be essential if we are to safeguard British businesses from unfair international trading practices in the future.

    This change represents a strategic shift from reactive assistance to proactive engagement with industries involved in trade remedies investigations, helping the TRA support businesses in adjusting to the current turbulent global trading picture. 

    Any UK producer that  believes they are being harmed by unfair overseas trading practices can contact the TRA for guidance and support. The TRA’s Trade Remedies Advisory Service can be contacted on:  contact@traderemedies.gov.uk.

    Background information

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

    Updates to this page

    Published 31 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: Nuclear Science and Nuclear Security Infrastructure to Protect Rare Rhinos: IAEA-Supported Project Marks a Milestone

    Source: International Atomic Energy Agency (IAEA)

    In a pioneering effort to combat wildlife trafficking of the threatened rhinoceros, a South African University today began implementing a project supported by the International Atomic Energy Agency (IAEA). The project combines the safe insertion of radioactive isotopes into rhino horns and available nuclear security infrastructure to deter and detect illegal poaching.

    With over 10,000 rhinos lost to poaching in the past decade, South Africa – home to the world’s largest population of rhinos – remains a target for criminals driven by the illegal trade of rhino horn. In the first quarter of 2025 alone, the South African Ministry of Forestry, Fisheries and the Environment reported 103 rhinos poached. In response, this project run by the University of the Witwatersrand is using radiation to support conservation and enforcement efforts.

    After two years of initial tests, the Rhisotope Project was created in 2021 with the idea to tag rhino horns with radioactive material. This makes the horns detectable by radiation portal monitors (RPMs) already deployed at borders, ports and airports worldwide. These RPMs, commonly used to detect nuclear and other radioactive material, can now be harnessed against wildlife crime.

    The IAEA’s support to the Rhisotope Project leverages its central role in strengthening the global nuclear security framework. With millions of vehicles and people crossing borders every day, the use of an estimated 10,000 RPMs worldwide has become a critical tool for detecting unauthorized transboundary movements of nuclear and other radioactive material.

    “The Rhisotope Project shows how nuclear science and nuclear security infrastructure can be used in new ways to address global challenges,” said IAEA Director General Rafael Mariano Grossi. “The IAEA is supporting countries to maximize the benefits of nuclear. By using already installed nuclear security infrastructure in novel ways, we can help protect one of the world’s most iconic and endangered species.”

    At an event today in the Waterberg, Limpopo, about 250 kilometres north of Johannesburg, the University of Witwatersrand announced the results of the rigorous safety assessments conducted during the pilot phase of the project. In June last year, radioisotopes were inserted into 20 rhinos. Health monitoring and cytological examinations of 15 treated animals and a comparison of five animals not treated were conducted by Ghent University in Belgium. The test results proved that the method is non-invasive and does not pose a risk to the rhinos’ health.

    “This has been an international collaboration of likeminded individuals who are trying to make a real difference to this poaching crisis,” said James Larkin, Director, Radiation and Health Physics Unit at the University of the Witwatersrand. “We started with the question – what if radiation could protect rather than harm, by turning rhino horns into traceable markers that stop poachers before they trade? After two years of digital modelling, safety testing and detection simulations, we’re ready to roll out a solution that could truly reduce rhino poaching.”

    The success of project also opens the door for future applications to other endangered species.

    “The methodology could be adapted to protect other endangered species like elephants or pangolins,” said Larkin.

    The IAEA is providing both technical and financial support to the project under its Coordinated Research Project titled Facilitation of Safe and Secure Trade Using Nuclear Detection Technology – Detection of RN and Other Contraband. As part of the project, the Agency also supports countries in their efforts to optimize the detection of radiation by the use of its Minimum Detectable Quantity and Alarm Threshold Estimation Tool, thereby allowing detection of the tagged with radiation rhino horns.

    “The Rhisotope Project brings the entire global nuclear security network into play,” said Elena Buglova, Director of the IAEA Division of Nuclear Security. “The nuclear security infrastructure that exists in many countries around the world to detect smuggling of nuclear and other radioactive material can be used to pick up the trafficking of rhino horn, and any other contraband that might be carried alongside it. Committing to nuclear security pays off in multiple ways.”

    B-roll and photos will be made available here.

    MIL OSI United Nations News –

  • MIL-OSI Security: Nuclear Science and Nuclear Security Infrastructure to Protect Rare Rhinos: IAEA-Supported Project Marks a Milestone

    Source: International Atomic Energy Agency – IAEA

    The Rhisotope Project team inserting radioactive isotopes into rhino horns. (Martin Klinenboeck/IAEA)

    In a pioneering effort to combat wildlife trafficking of the threatened rhinoceros, a South African University today began implementing a project supported by the International Atomic Energy Agency (IAEA). The project combines the safe insertion of radioactive isotopes into rhino horns and available nuclear security infrastructure to deter and detect illegal poaching.

    With over 10,000 rhinos lost to poaching in the past decade, South Africa – home to the world’s largest population of rhinos – remains a target for criminals driven by the illegal trade of rhino horn. In the first quarter of 2025 alone, the South African Ministry of Forestry, Fisheries and the Environment reported 103 rhinos poached. In response, this project run by the University of the Witwatersrand is using radiation to support conservation and enforcement efforts.

    After two years of initial tests, the Rhisotope Project was created in 2021 with the idea to tag rhino horns with radioactive material. This makes the horns detectable by radiation portal monitors (RPMs) already deployed at borders, ports and airports worldwide. These RPMs, commonly used to detect nuclear and other radioactive material, can now be harnessed against wildlife crime.

    The IAEA’s support to the Rhisotope Project leverages its central role in strengthening the global nuclear security framework. With millions of vehicles and people crossing borders every day, the use of an estimated 10,000 RPMs worldwide has become a critical tool for detecting unauthorized transboundary movements of nuclear and other radioactive material.

    “The Rhisotope Project shows how nuclear science and nuclear security infrastructure can be used in new ways to address global challenges,” said IAEA Director General Rafael Mariano Grossi. “The IAEA is supporting countries to maximize the benefits of nuclear. By using already installed nuclear security infrastructure in novel ways, we can help protect one of the world’s most iconic and endangered species.”

    At an event today in the Waterberg, Limpopo, about 250 kilometres north of Johannesburg, the University of Witwatersrand announced the results of the rigorous safety assessments conducted during the pilot phase of the project. In June last year, radioisotopes were inserted into 20 rhinos. Health monitoring and cytological examinations of 15 treated animals and a comparison of five animals not treated were conducted by Ghent University in Belgium. The test results proved that the method is non-invasive and does not pose a risk to the rhinos’ health.

    “This has been an international collaboration of likeminded individuals who are trying to make a real difference to this poaching crisis,” said James Larkin, Director, Radiation and Health Physics Unit at the University of the Witwatersrand. “We started with the question – what if radiation could protect rather than harm, by turning rhino horns into traceable markers that stop poachers before they trade? After two years of digital modelling, safety testing and detection simulations, we’re ready to roll out a solution that could truly reduce rhino poaching.”

    The success of project also opens the door for future applications to other endangered species.

    “The methodology could be adapted to protect other endangered species like elephants or pangolins,” said Larkin.

    The IAEA is providing both technical and financial support to the project under its Coordinated Research Project titled Facilitation of Safe and Secure Trade Using Nuclear Detection Technology – Detection of RN and Other Contraband. As part of the project, the Agency also supports countries in their efforts to optimize the detection of radiation by the use of its Minimum Detectable Quantity and Alarm Threshold Estimation Tool, thereby allowing detection of the tagged with radiation rhino horns.

    “The Rhisotope Project brings the entire global nuclear security network into play,” said Elena Buglova, Director of the IAEA Division of Nuclear Security. “The nuclear security infrastructure that exists in many countries around the world to detect smuggling of nuclear and other radioactive material can be used to pick up the trafficking of rhino horn, and any other contraband that might be carried alongside it. Committing to nuclear security pays off in multiple ways.”

    B-roll and photos will be made available here.

    MIL Security OSI –

  • MIL-OSI NGOs: Nuclear Science and Nuclear Security Infrastructure to Protect Rare Rhinos: IAEA-Supported Project Marks a Milestone

    Source: International Atomic Energy Agency (IAEA) –

    The Rhisotope Project team inserting radioactive isotopes into rhino horns. (Martin Klinenboeck/IAEA)

    In a pioneering effort to combat wildlife trafficking of the threatened rhinoceros, a South African University today began implementing a project supported by the International Atomic Energy Agency (IAEA). The project combines the safe insertion of radioactive isotopes into rhino horns and available nuclear security infrastructure to deter and detect illegal poaching.

    With over 10,000 rhinos lost to poaching in the past decade, South Africa – home to the world’s largest population of rhinos – remains a target for criminals driven by the illegal trade of rhino horn. In the first quarter of 2025 alone, the South African Ministry of Forestry, Fisheries and the Environment reported 103 rhinos poached. In response, this project run by the University of the Witwatersrand is using radiation to support conservation and enforcement efforts.

    After two years of initial tests, the Rhisotope Project was created in 2021 with the idea to tag rhino horns with radioactive material. This makes the horns detectable by radiation portal monitors (RPMs) already deployed at borders, ports and airports worldwide. These RPMs, commonly used to detect nuclear and other radioactive material, can now be harnessed against wildlife crime.

    The IAEA’s support to the Rhisotope Project leverages its central role in strengthening the global nuclear security framework. With millions of vehicles and people crossing borders every day, the use of an estimated 10,000 RPMs worldwide has become a critical tool for detecting unauthorized transboundary movements of nuclear and other radioactive material.

    “The Rhisotope Project shows how nuclear science and nuclear security infrastructure can be used in new ways to address global challenges,” said IAEA Director General Rafael Mariano Grossi. “The IAEA is supporting countries to maximize the benefits of nuclear. By using already installed nuclear security infrastructure in novel ways, we can help protect one of the world’s most iconic and endangered species.”

    At an event today in the Waterberg, Limpopo, about 250 kilometres north of Johannesburg, the University of Witwatersrand announced the results of the rigorous safety assessments conducted during the pilot phase of the project. In June last year, radioisotopes were inserted into 20 rhinos. Health monitoring and cytological examinations of 15 treated animals and a comparison of five animals not treated were conducted by Ghent University in Belgium. The test results proved that the method is non-invasive and does not pose a risk to the rhinos’ health.

    “This has been an international collaboration of likeminded individuals who are trying to make a real difference to this poaching crisis,” said James Larkin, Director, Radiation and Health Physics Unit at the University of the Witwatersrand. “We started with the question – what if radiation could protect rather than harm, by turning rhino horns into traceable markers that stop poachers before they trade? After two years of digital modelling, safety testing and detection simulations, we’re ready to roll out a solution that could truly reduce rhino poaching.”

    The success of project also opens the door for future applications to other endangered species.

    “The methodology could be adapted to protect other endangered species like elephants or pangolins,” said Larkin.

    The IAEA is providing both technical and financial support to the project under its Coordinated Research Project titled Facilitation of Safe and Secure Trade Using Nuclear Detection Technology – Detection of RN and Other Contraband. As part of the project, the Agency also supports countries in their efforts to optimize the detection of radiation by the use of its Minimum Detectable Quantity and Alarm Threshold Estimation Tool, thereby allowing detection of the tagged with radiation rhino horns.

    “The Rhisotope Project brings the entire global nuclear security network into play,” said Elena Buglova, Director of the IAEA Division of Nuclear Security. “The nuclear security infrastructure that exists in many countries around the world to detect smuggling of nuclear and other radioactive material can be used to pick up the trafficking of rhino horn, and any other contraband that might be carried alongside it. Committing to nuclear security pays off in multiple ways.”

    B-roll and photos will be made available here.

    MIL OSI NGO –

  • MIL-OSI Submissions: What is personalized pricing, and how do I avoid it?

    Source: The Conversation – USA (2) – By Jay L. Zagorsky, Associate Professor Questrom School of Business, Boston University

    Recently, Delta Air Lines announced it would expand its use of artificial intelligence to provide individualized prices to customers. This move sparked concern among flyers and politicians. But Delta isn’t the only business interested in using AI this way. Personalized pricing has already spread across a range of industries, from finance to online gaming.

    Customized pricing – where each customer receives a different price for the same product – is a holy grail for businesses because it boosts profits. With customized pricing, free-spending people pay more while the price-sensitive pay less. Just as clothes can be tailored to each person, custom pricing fits each person’s ability and desire to pay.

    I am a professor who teaches business school students how to set prices. My latest book, “The Power of Cash: Why Using Paper Money is Good for You and Society,” highlights problems with custom pricing. Specifically, I’m worried that AI pricing models lack transparency and could unfairly take advantage of financially unsophisticated people.

    The history of custom pricing

    For much of history, customized pricing was the normal way things happened. In the past, business owners sized up each customer and then bargained face-to-face. The price paid depended on the buyer’s and seller’s bargaining skills – and desperation.

    An old joke illustrates this process. Once, a very rich man was riding in his carriage at breakfast time. Hungry, he told his driver to stop at the next restaurant. He went inside, ordered some eggs and asked for the bill. When the owner handed him the check, the rich man was shocked at the price. “Are eggs rare in this neighborhood?” he asked. “No,” the owner said. “Eggs are plentiful, but very rich men are quite rare.”

    Custom pricing through bargaining still exists in some industries. For example, car dealerships often negotiate a different price for each vehicle they sell. Economists refer to this as “first-degree” or “perfect” price discrimination, which is “perfect” from the seller’s perspective because it allows them to charge each customer the maximum amount they’re willing to pay.

    Wanamaker’s department store in Philadelphia was a pricing pioneer.
    Hulton Archive/Getty Images

    Currently, most American shoppers don’t bargain but instead see set prices. Many scholars trace the rise of set prices to John Wanamaker’s Philadelphia department store, which opened in 1876. In his store, each item had a nonnegotiable price tag. These set prices made it simpler for customers to shop and became very popular.

    Why uniform pricing caught on

    Set prices have several advantages for businesses. For one thing, they allow stores to hire low-paid retail workers instead of employees who are experts in negotiation.

    Historically, they also made it easier for stores to decide how much to charge. Before the advent of AI pricing, many companies determined prices using a “cost-plus” rule. Cost-plus means a business adds a fixed percentage or markup to an item’s cost. The markup is the percentage added to a product’s cost that covers a company’s profits and overhead.

    The big-box retailer Costco still uses this rule. It determines prices by adding a roughly 15% maximum markup to each item on the warehouse floor. If something costs Costco $100, they sell it for about $115.

    The problem with cost-plus is that it treats all items the same. For example, Costco sells wine in many stores. People buying expensive Champagne typically are willing to pay a much higher markup than customers purchasing inexpensive boxed wine. Using AI gets around this problem by letting a computer determine the optimal markup item by item.

    What personalized pricing means for shoppers

    AI needs a lot of data to operate effectively. The shift from cash to electronic payments has enabled businesses to collect what’s been called a “gold mine” of information. For example, Mastercard says its data lets companies “determine optimal pricing strategies.”

    So much information is collected when you pay electronically that in 2024 the Federal Trade Commission issued civil subpoenas to Mastercard, JPMorgan Chase and other financial companies demanding to know “how artificial intelligence and other technological tools may allow companies to vary prices using data they collect about individual consumers’ finances and shopping habits.” Experiments at the FTC show that AI programs can even collude among themselves to raise prices without human intervention.

    To prevent customized pricing, some states have laws requiring retailers to display a single price for each product for sale. Even with these laws, it’s simple to do custom pricing by using targeted digital coupons, which vary each shopper’s discount.

    How you can outsmart AI pricing

    There are ways to get around customized pricing. All depend on denying AI programs data on past purchases and knowledge of who you are. First, when shopping in brick-and-mortar stores, use paper money. Yes, good old-fashioned cash is private and leaves no data trail that follows you online.

    Second, once online, clear your cache. Your search history and cookies provide algorithms with extensive amounts of information. Many articles say the protective power of clearing your cache is an urban myth. However, this information was based on how airlines used to price tickets. Recent analysis by the FTC shows the newest AI algorithms are changing prices based on this cached information.

    Third, many computer pricing algorithms look at your location, since location is a good proxy for income. I was once in Botswana and needed to buy a plane ticket. The price on my computer was about $200. Unfortunately, before booking I was called away to dinner. After dinner my computer showed the cost was $1,000 − five times higher. It turned out after dinner I used my university’s VPN, which told the airline I was located in a rich American neighborhood. Before dinner I was located in a poor African town. Shutting off the VPN reduced the price.

    Last, often to get a better price in face-to-face negotiations, you need to walk away. To do this online, put something in your basket and then wait before hitting purchase. I recently bought eyeglasses online. As a cash payer, I didn’t have my credit card handy. It took five minutes to find it, and the delay caused the site to offer a large discount to complete the purchase.

    The computer revolution has created the ability to create custom products cheaply. The cashless society combined with AI is setting us up for customized prices. In a custom-pricing situation, seeing a high price doesn’t mean something is higher quality. Instead, a high price simply means a business views the customer as willing to part with more money.

    Using cash more often can help defeat custom pricing. In my view, however, rapid advances in AI mean we need to start talking now about how prices are determined, before customized pricing takes over completely.

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

    – ref. What is personalized pricing, and how do I avoid it? – https://theconversation.com/what-is-personalized-pricing-and-how-do-i-avoid-it-262195

    MIL OSI –

  • MIL-OSI United Kingdom: UK Government backs Ford’s global transformation

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK Government backs Ford’s global transformation

    UK Export Finance announces a new £1 billion export guarantee, supporting Ford UK’s transition to electric vehicle production.

    • Iconic car manufacturer Ford continues global transformation as government backs new loan  

    • Financing assists Ford’s operations in developing world-leading products, including cleaner engines and electric power units while supporting thousands of jobs 

    • Latest action in the government’s Plan for Change and in support for the UK’s automotive sector as part of the Industrial Strategy 

    UK Export Finance (UKEF) is providing a £1 billion export development guarantee to Ford UK, supporting the car giant’s long-term growth ambitions around the world. 

    Ford operates various sites across the country including the UK’s largest automotive research & development (R&D) centre based in Essex and directly employs more than 5,500 workers across the country.   

    The loan will help Ford continue its global transformation, engineering and manufacturing smart, connected and electrified vehicles for customers around the world.  

    Chancellor of the Exchequer Rachel Reeves said:

    Ford has been the pride of Essex since 1911, over a century of innovation and industry. The R&D centre in Basildon employs thousands of people in well-paid, highly skilled jobs. 

    This £1 billion loan guarantee is a major boost for Britain’s auto sector. It will help develop world-leading products, open new export markets, and secure jobs. This is our Plan for Change in action – delivering growth and putting more money in people’s pockets.

    Business and Trade Secretary Jonathan Reynolds said:

    We’re proud of our historic auto sector, and the commitment that global companies like Ford have made to make cars and create jobs in the UK. 

    I’m delighted that UKEF is backing Ford in supporting the company’s ambitions for growth, helping to cement our position as a global leader for manufacturing and backing our Plan for Change. 

    This Government has taken significant action to back auto firms – including by securing landmark trade deals with the US and India to bring down tariffs for British car manufacturers and create new export opportunities, measures to lower electricity prices in our Industrial Strategy, and updating the ZEV mandate to support UK manufacturers and safeguard jobs of the future.

    In recent years, the company has invested heavily into electric vehicle development, including a £380 million transformation of its Halewood manufacturing plant from producing transmissions to electric motors for iconic vehicles like the Ford Transit van and Ford Puma. Ford has also invested £70 million in state-of-the-art testing and development labs at its R&D site in Essex.   

    This follows several significant announcements in recent months showing the government backing the UK’s automotive sector. This includes launching an Electric Car Grant to support the transition to zero emission vehicles and incentivise sustainable manufacturing, and the publication of the Advanced Manufacturing Sector Plan and Modern Industrial Strategy, which commits £2 billion capital and R&D funding to 2030, and an additional £500 million to extend the R&D support to 2035. This support is giving innovative manufacturers the confidence to pursue technological advancements needed in the automotive sector. 

    UKEF is guaranteeing 80 per cent (£800 million) of the £1 billion loan provided by Citi and a syndicate of lenders. Citi is the sole coordinator and agent on the loan to Ford. 

    This announcement forms part of the government’s Plan for Change to kickstart economic growth and raise living standards across the United Kingdom by supporting businesses to export and grow. 

    British car manufacturers now benefit from major tariff reductions when exporting to the US, thanks to the landmark trade deal secured with the US. The UK is the only country to have secured this deal with the US, which reduces car export tariffs from 27.5% to 10%, saving manufacturers hundreds of millions each year and protecting hundreds of thousands of jobs, backing the Plan for Change. 

    UKEF Chief Executive Tim Reid said:

    This is a great example of UKEF’s collaboration with the automotive industry, which is a key sector of the government’s Industrial Strategy. Our export development guarantee is a versatile product that has lasting impact on businesses. Boosting growth, securing key jobs, growing the UK’s export potential and doing so sustainably – that’s what UKEF does best. 

    Lisa Brankin, Chair, Ford Britain, said:

    Recent investments in the UK have proved crucial to our European operations and have expanded our UK export capability, on top of supporting Ford’s investment in an all-electric product line-for Europe. This new UKEF facility will play an important role in supporting our UK exporting footprint, especially amid the continued uncertainty in the trade landscape and the disconnect between electric vehicle targets and customer demand. 

    Richard Hodder, Global Head of Export and Agency Finance at Citi, said: 

    Citi is pleased to partner with Ford and UK Export Finance on this significant transaction. This third UKEF Guarantee loan under the EDG program demonstrates our dedication to supporting Ford’s global innovation and UK export operations. This transaction showcases both the cross-border expertise and local knowledge that Citi’s Services business provides clients in the UK, and around the world.

    This is the third EDG awarded by UKEF to Ford, taking total financing to almost £2.4 billion (£1.9 billion guaranteed by UKEF) since 2020: 

    • June 2022: £750 million UKEF EDG (UKEF guarantee of £600 million) supported phase two of Ford’s electric vehicle plans. The investment significantly expanding Ford’s electric power unit production line capability.  

    • June 2020: a £625 million UKEF EDG facility (UKEF guarantee on £500 million). This helped to finance Ford’s global vehicle research and development headquarters in Dunton in Essex, securing key of jobs and supporting the development of electric vehicle technologies. 

    This latest announcement follows the recent publication of UKEF’s annual report & accounts for 2024/25. 

    Over the last financial year, UKEF provided a record £14.5 billion in new financing, helping over 667 UK companies to export and grow and supported up to 70,000 jobs.

    Contact

    Media enquiries:

    Updates to this page

    Published 31 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI: ServiceTrade Unveils 4 Keys to Unlocking Peak Valuations for Commercial Service Businesses

    Source: GlobeNewswire (MIL-OSI)

    DURHAM, N.C., July 31, 2025 (GLOBE NEWSWIRE) — ServiceTrade, an innovative software platform that optimizes commercial service business operations for growth and profit, today announced four key strategies to significantly boost business valuations and ensure successful M&A outcomes. These insights offer commercial service contractors practical strategies to build, measure, and enhance their business value using ServiceTrade. 

    The fire and life safety and mechanical service markets are experiencing a marked acceleration in consolidation activity. This trend began in 2023 and intensified through the first half of 2025, encompassing significant acquisitions exceeding $1 billion alongside numerous smaller roll-ups and consolidations. Notably, private equity deals in the mechanical and HVAC services market have surged 88%. In parallel, the fire and life safety markets maintain a robust average of 38 transactions per quarter this year. 

    “Whether you’re preparing for a future exit or building a strong, high-performing business, you need a plan to create long-term value,” said Billy Marshall, Founder of ServiceTrade. “Contractors that prioritize recurring revenue, technician productivity, operational efficiency, and customer satisfaction consistently achieve higher valuations—and have more options when it’s time to sell.”

    ServiceTrade has outlined four key areas of value creation that maximize growth, scale, and attractiveness to potential acquirers.

    1. Revenue Predictability and Quality

    Recent industry trends show recurring revenue streams command valuation premiums 3-5 times higher than one-off project revenue. Additionally, commercial service providers whose revenue primarily derives from recurring maintenance and inspection work grow at twice the rate of their peers. Prioritizing the most profitable customers and protecting margins through automation further enhances this.

    • Aim for 80% of revenue to come from long-term service contracts and committed recurring revenue. Avoid “one-and-done” project customers. 
    • Focus on the most profitable customers and minimize low-quality projects or break/fix work.

    2. Optimized for Technician Productivity

    Commercial service companies that optimize technician productivity experience significantly higher margins and improved customer satisfaction. By utilizing mobile field technology and smart workforce management, these companies eliminate administrative burdens, empowering technicians to deliver more billable work and more value to the customer, while enjoying higher work satisfaction.

    • Establish technician productivity baselines and implement tracking systems to meet or exceed industry-leading benchmarks. 
    • To attract and retain skilled technicians, eliminate unnecessary administrative tasks in the field, to overcome the ongoing skilled labor shortage.
    • Streamline communications among technicians, office staff, and customers through digital work orders and automated customer updates.

    3. Enhance Operational Efficiency with Better Technology

    Companies that leverage tailored technology to streamline operations create significant competitive advantages by maximizing productivity, employee satisfaction, and customer experiences. Modern technology solutions provide staff with real-time data and tools to manage tasks and customer interactions efficiently, fostering an engaged, high-performing workforce. 

    • Utilize purpose-built technology to optimize technician performance and operational efficiency.
    • Implement comprehensive, integrated solutions to manage workflows, digitally reduce errors, and minimize administrative tasks.
    • Leverage technology to increase employee engagement, satisfaction, and accountability.

    4. Prioritize Your Most Valuable Customers

    Creating a customer-first culture dramatically improves customer retention and satisfaction, ultimately driving sustainable business growth. Companies position themselves as trusted, customer-focused partners by leveraging digital solutions to provide transparent, timely, and comprehensive customer communications. 

    • Make retaining and expanding your most profitable customers a corporate priority.
    • Target a 90% customer retention rate through proactive and personalized customer engagement strategies. 
    • Digitize all customer communications, offering seamless access to service histories, quotes, invoices, approvals, and status updates. 
    • Develop comprehensive customer records, including detailed service histories, contractual agreements, profitability analyses, and revenue contribution insights.

    Rod DiBona, Pye-Barker Fire & Safety’s Executive Vice President of Business Development, added insight for sellers in a recent webinar with ServiceTrade on M&A readiness:

    “In today’s market, buyers are looking for more than just top-line revenue,” said DiBona, “Businesses that retain customers, are committed to their employees, grow accounts, and use technology to scale profitably are more valuable and attractive to strategic and private equity buyers.”

    Commercial service contractors can learn more about building valuation using these resources:

    Webinar: M&A Readiness with Pye-Barker: Building Your Toolkit for a Strong Exit 

    eBook: The Ultimate Guide to Building a Fire & Life Safety Business For a Successful Exit

    eBook: The Ultimate Guide to Building a Commercial HVAC Business for a Successful Exit 

    Learn how ServiceTrade can help you build a more valuable business. Book a Demo with one of our experts. 

    About ServiceTrade
    ServiceTrade, Inc., is a best-in-class field service management platform that enables commercial contractors to build efficient, profitable, and growing businesses. With a decade of innovation and 1300 customers, ServiceTrade is an end-to-end, fully integrated solution that maximizes technician performance, streamlines operations, and delivers digital-first experiences that win and delight customers. Commercial contractors can service smarter and scale faster with ServiceTrade.

    Contact
    media@ktcmarketingandpr.com

    The MIL Network –

  • MIL-OSI Russia: Thematic presentation and business meeting on Russian projects held in Daqing

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 31 (Xinhua) — A thematic presentation of “Open Heilongjiang, Innovative Daqing” and a business meeting on Russian projects were held in Daqing, Heilongjiang Province, northeast China, on July 29.

    According to the news portal sohu.com, Liu Xiuli, an official of the Daqing municipal government, warmly welcomed the participants in her welcoming speech. She expressed hope that the event would strengthen the ties and contacts between Daqing and its partners, creating a long-term platform for local enterprises to cooperate in trade with Russia.

    At the business meeting, the Foreign Affairs Office of Daqing City presented the achievements and prospective plans for cooperation with the Russian Federation. Representatives of the city’s specialized companies held project presentations.

    Cheng Xiang, director of the Heilongjiang Provincial Center for Trade and Economic Cooperation with Russia, said the center will fully play a role as a link, providing Daqing enterprises with a range of services, including policy clarification, market analysis, vocational training, etc.

    Following the event, the delegation of the Center for Trade and Economic Cooperation with Russia in Heilongjiang Province held a working meeting with the Daqing City Commerce Department. The parties agreed to organize training for the city’s enterprises engaged in trade with Russia. -0-

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

    .

    MIL OSI Russia News –