NewzIntel.com

Category: Trade

  • MIL-OSI: Abacus Global Management Announces Intention to Conduct Exchange Offer and Consent Solicitation Relating to Warrants

    Source: GlobeNewswire (MIL-OSI)

    ORLANDO, Fla., June 27, 2025 (GLOBE NEWSWIRE) — Abacus Global Management, Inc. (the “Company”) (NASDAQ: ABL), today announced that it intends to conduct an exchange offer (the “Offer”) and consent solicitation (the “Consent Solicitation”) relating to its outstanding (i) public warrants to purchase shares of common stock of the Company, par value $0.0001 per share (“common stock”), which warrants trade on The Nasdaq Capital Market under the symbol “ABLLW” (“public warrants”), and (ii) private placement warrants to purchase shares of common stock (such private placement warrants, together with the public warrants, the “warrants”).

    Each outstanding warrant is exercisable for one common share at a price of $11.50 per share, subject to adjustments pursuant to the warrant agreement that governs the warrants (the “Warrant Agreement”). The Company intends to offer to all holders of the warrants the opportunity to receive 0.23 shares of common stock in exchange for each outstanding warrant tendered by the holder and exchanged pursuant to the Offer. Concurrently with the Offer, the Company also expects to solicit consents from holders of the warrants to amend the Warrant Agreement to permit the Company to require that each warrant that is outstanding upon the closing of the Offer be exchanged for 0.207 shares of common stock, which is a ratio 10% less than the exchange ratio that will be applicable to the Offer (such amendment, the “Warrant Amendment”). Pursuant to the terms of the Warrant Agreement, all except certain specified modifications or amendments require the vote or written consent of holders of at least 50% of the outstanding public warrants.

    The Company expects to commence the Offer following the filing of a Form S-4 registration statement setting forth the terms of the Offer.

    Important Notice

    This announcement is being made pursuant to and in accordance with Rule 135 under the Securities Act of 1933. As required by Rule 135, this press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

    Contacts:

    Investor Relations
    Robert F. Phillips – SVP Investor Relations and Corporate Affairs
    rob@abacusgm.com
    (321) 290-1198

    David Jackson – Director of IR/Capital Markets
    david@abacusgm.com
    (321) 299-0716

    Abacus Global Management Public Relations
    press@abacusgm.com

    The MIL Network –

  • MIL-OSI: Free IQ Test Online with Instant Results – Fast, Accurate & Free: QuickIQTest.org Launches Updated 2025 Free IQ Testing Service

    Source: GlobeNewswire (MIL-OSI)

    New York City, June 27, 2025 (GLOBE NEWSWIRE) — QuickIQTest.org launches free IQ test with Instant results and no registration required. The company is proud to announce the official release of its updated free IQ test online, offering instant results through a scientifically designed, user-friendly platform. The new version allows users worldwide to complete an accurate cognitive assessment in under 10 minutes, entirely free and without requiring any personal information or registration.

    ⇒ Take the Free IQ Test Online – No Delay, No Cost!

    QuickIQTest.org is a leading online resource for cognitive self-assessment. Focused on accessibility, scientific accuracy, and honest reporting, the platform has helped millions of users worldwide better understand their cognitive skills without fees, sign-ups, or invasive data practices.

    Already used by millions, QuickIQTest.org’s latest IQ testing tool provides a fast, accessible way to evaluate fluid intelligence, logical reasoning, numerical comprehension, and spatial pattern recognition. Whether accessed from a smartphone, tablet, or desktop, the test offers a seamless experience across devices.

    ⇒ Start Your Free IQ Test Online – Instant, Accurate Results!

    “We created this test to be practical, honest, and available to everyone without barriers,” said a spokesperson for QuickIQTest.org. “With the 2025 update, we’ve focused on delivering speed and scientific accuracy, without compromising user privacy or simplicity.”

    Unlike many free IQ test online service providers that rely on gimmicks or upsells, QuickIQTest.org delivers immediate IQ scores along with a basic breakdown of performance across core cognitive areas. For users seeking a deeper understanding, an optional advanced analysis provides further interpretation of results.

    ⇒ Start your Free IQ Test Online – Fast, Proven, Accurate!

    This release reinforces the platform’s mission to offer a credible, no-cost tool for individuals looking to understand their cognitive strengths and thinking style better. The test is ideal for:

    • Students exploring their learning profile
    • Educators seeking classroom-ready assessment tools
    • Professionals curious about their problem-solving abilities
    • Anyone interested in how they process and analyze information

    ⇒ Take a Free IQ Test with Instant Results on QuickIQTest.org

    Key Features of the Updated Free IQ Test at QuickIQTest.org:

    • ✅ 100% Free IQ Test Online
    • ✅ Instant Results with No Sign-Up Required
    • ✅ Mobile & Desktop Friendly
    • ✅ Scientifically Designed Questions
    • ✅ Basic and Advanced Score Interpretation Options
    • ✅ No Data Collection to View Results

    As global demand grows for free IQ tests with instant results, QuickIQTest.org sets itself apart by offering a transparent, science-based testing experience without distractions, ads, or misleading scoring tactics.

    ⇒ Try the Free IQ Test with Free Results at QuickIQTest.org

    What Is an IQ Test?

    IQ stands for Intelligence Quotient. It is a score derived from standardized tests to measure a person’s ability to reason, solve problems, and recognize patterns. An IQ score reflects how someone performs compared to others in their age group. The average IQ is typically set at 100, with most people scoring between 85 and 115.

    These tests are often used in academic and professional settings to assess cognitive performance. While they don’t measure creativity or emotional understanding, they are a common method for evaluating specific mental skills.

    ⇒ Get Instant Scores with This Trusted Free IQ Test Online

    The Purpose of IQ Testing

    The primary function of an IQ test is to evaluate how effectively a person processes information. These assessments focus on areas such as:

    • Logical reasoning
    • Pattern recognition
    • Numerical analysis
    • Visual-spatial awareness
    • Short-term memory

    IQ tests are used in education, research, career planning, and personal development. Many people also take them out of curiosity, looking for a clearer picture of how their thinking compares to others.

    ⇒ Free IQ Test with Results – Fast, Honest, No Registration!

    A Brief History of IQ Tests

    The first modern IQ test was created in France in the early 1900s. Psychologist Alfred Binet developed a method to identify students who needed additional academic support. Lewis Terman later adapted his system in the United States at Stanford University, resulting in the Stanford-Binet Intelligence Scale.

    This version introduced the idea of comparing mental age to actual age, which became the foundation for the IQ scoring model that is still in use today. Over the years, new tests have been developed to include broader types of reasoning and improved scoring accuracy.

    ⇒ Start the Free Online IQ Test at QuickIQTest.org Today!

    IQ Testing Today

    Modern IQ tests are often taken online. These tests typically use timed multiple-choice questions designed to measure core thinking abilities. Thanks to digital platforms, users can now take a free IQ test online and receive their score within minutes without needing an in-person appointment or long wait times.

    One widely used option is the test offered at QuickIQTest.org. It provides a science-based format that includes logical and visual tasks. No registration is required, and results are available immediately.

    IQ Tests for Children

    IQ testing is not limited to adults. There are versions specifically designed for children that use age-appropriate questions and scoring. A free IQ test for kids can help parents better understand how their child approaches problem-solving and which tasks they respond to most effectively. The test at QuickIQTest.org offers this option using the same standard of accuracy as the general version.

    ⇒ Try a Proven Free IQ Test Online – Instant Results Included!

    How Do Free IQ Test Online Work?

    Online IQ tests are built around structured tasks that aim to measure specific areas of cognitive function. The most common formats include:

    • Logic puzzles: Identify relationships between shapes or sequences
    • Visual reasoning: Complete or match patterns using spatial awareness
    • Numerical sequences: Find missing values or detect number patterns
    • Short-term memory tasks: Recall and manipulate sets of information

    These formats are designed to measure fluid reasoning and problem-solving ability under controlled conditions.

    The test questions are usually multiple-choice. Users are asked to select the correct answer based on the data presented. Each question is intended to be objective and free from cultural or language bias.

    ⇒ Take This Free IQ Test with Free Instant Results Now!

    Structure of the Test on QuickIQTest.org

    The online IQ test at QuickIQTest.org uses a clear layout and simple instructions. The test begins immediately after the user starts. No login or email is required to initiate or see the results.

    The structure includes a series of progressively challenging tasks. The sequence of questions has been designed by cognitive assessment professionals. All items are displayed one at a time to reduce distractions.

    Most users complete the test in 10 minutes or less. The design allows for fast processing without sacrificing test quality.

    ⇒ Take an Accurate IQ Test Free Online in Minutes!

    Timed vs. Untimed Tests

    QuickIQTest.org uses a timed model. Each question must be answered within a certain period. This helps measure how quickly a user can recognize patterns or solve problems. A consistent time limit also allows scores to be compared across various users.

    Some IQ tests allow unlimited time. While this format may reduce pressure, it can produce less reliable results. Users may perform better or worse depending on test-taking habits rather than cognitive processing speed when speed is not controlled.

    The timed approach used at QuickIQTest.org is consistent with most standardized IQ assessments. It helps provide a balanced view of both accuracy and pace.

    ⇒ Get Trusted Instant Results with a Free IQ Test Online

    Scoring and Instant Results

    Once the test is complete, scores are generated immediately. This is one of the main advantages of using an online IQ test that is free from QuickIQTest.org.

    The platform uses a proprietary scoring system based on established intelligence testing models. The user’s performance is compared to normative data to produce an IQ score. That score represents where a person falls relative to others in their age group.

    The user receives performance feedback across specific questions along with the overall result. This includes reasoning accuracy, speed, and problem type. No additional sign-up is needed to access these details.

    This format provides a quick and reliable assessment that reflects real cognitive ability for users looking for a free IQ test with instant results.

    ⇒ Take Your IQ Test Free with QuickIQTest.org – Fast & Accurate

    Benefits of Taking a Free IQ Test Online

    Immediate Access to Results

    One of the main reasons people choose to get a free IQ test online is speed. After completing the test on QuickIQTest.org, results are provided instantly. There is no waiting period, and users do not need to provide personal information to receive their scores. This makes the process efficient for anyone seeking immediate feedback.

    For those comparing options, a free accurate IQ test that delivers real-time scoring offers a practical solution. The structure used by QuickIQTest.org allows for quick test completion while maintaining consistency in how answers are evaluated.

    ⇒ Free IQ Test with Free Results – Reliable and No Cost!

    No Registration Required

    QuickIQTest.org does not require users to create an account or submit contact information. The test can be accessed directly from the homepage, and users receive their results immediately after completion.

    This approach appeals to individuals who prefer to keep testing private. There are no follow-up emails or prompts to share results. The focus remains on allowing users to measure their cognitive ability without added steps.

    ⇒ Take the Free IQ Test Online – No Credit Card Needed!

    Practical Use Cases

    IQ tests are used for a variety of reasons. Some take them to evaluate personal strengths. Others use the results to support academic or professional planning.

    • Students may use IQ scores to identify areas of strength or prepare for standardized testing.
    • Professionals may take a test to assess their problem-solving ability in preparation for interviews or advancement opportunities.
    • Parents may use a test to better understand their child’s learning style or reasoning skills.

    A free IQ test and results allow exploring these areas without cost or commitment.

    ⇒ QuickIQTest.org’s Free IQ Test with Instant Results Available

    Compatible Across Devices

    The test at QuickIQTest.org works on most devices, including smartphones, tablets, and laptops. The interface is built for responsive access, with no downloads required.

    This level of access makes it easy for users to complete the test when it is most convenient for them. Whether at home or on a break at work, the platform supports a flexible testing experience.

    Focused Format

    Online testing also removes some of the obstacles found in traditional assessments. There is no need to travel, schedule an appointment, or complete paperwork. Instead, the test is available anytime, and users can begin as soon as they are ready.

    Since the test follows a simple, focused layout, users are not distracted by unrelated content or advertising interruptions.

    ⇒ Free Online IQ Test – Trusted and Fast, Try Now

    Free vs. Paid Online IQ Tests

    What Free Tests Typically Provide

    A free IQ test online usually offers a short series of timed questions to give a basic overview of a person’s reasoning ability. These questions often cover visual patterns, logic, and numerical sequences. Many users try free versions to get a general sense of how they perform these tasks.

    At QuickIQTest.org, the free IQ test includes a full set of questions and provides an immediate score once the test is completed. Registering or entering an email is not required to see the result. The structure allows users to complete the assessment without delays or access issues.

    The free IQ test with free results includes a performance summary across different types of reasoning. While more detailed reporting is available through the platform’s paid option, the basic score is presented clearly and without restriction.

    ⇒ Get a Free IQ Test with Results – Easy and Quick

    How Paid Versions Compare

    Some users may choose to upgrade for a more detailed breakdown of their score. Paid versions typically offer extended insights into cognitive categories, including logic, spatial awareness, numerical reasoning, and timing accuracy.

    Paid IQ tests can also include downloadable reports, percentile rankings, and score interpretation guides. These may be helpful for individuals using their test results for academic or professional purposes.

    QuickIQTest.org offers this option, but it does not restrict the free version in a way that forces users to pay. The full test and core results remain free to access.

    ⇒ Take an IQ Test Free Online – No Waiting, Instant Results

    When Paid Upgrades Make Sense

    A paid test may be helpful in the following situations:

    • When a user needs a full cognitive profile for documentation or planning
    • When applying for certain academic programs or training institutions
    • When preparing for high-level job assessments that include aptitude testing

    The extended score analysis can provide more detailed insight than the basic version in these cases.

    For casual users or those looking to test their ability quickly, the free IQ test online free from QuickIQTest.org is often sufficient.

    ⇒ Reliable Free IQ Test Online with Free Instant Results!

    Warning Signs to Watch For

    While many free IQ test sites claim to offer value, not all follow transparent practices. Some common issues include:

    • Requiring payment before showing the score
    • Showing inflated results with no explanation of how the score was calculated
    • Redirecting users to unrelated offers or subscriptions
    • Requiring full personal information to unlock any results

    These signs suggest that the test is focused on data collection or marketing, not accurate scoring.

    QuickIQTest.org avoids these tactics by providing a free IQ test with free results that are accessible, clear, and independent of promotional pressure.

    ⇒ IQ Test Free Results – Take It Today for Proven Accuracy

    How to Prepare for a Free IQ Test Online

    One of the most effective ways to prepare for a free IQ test online is to become familiar with the questions you will likely encounter. These usually include:

    • Number sequences
    • Visual pattern recognition
    • Logical reasoning tasks
    • Short-term memory questions
    • Word problems or analogies

    Practicing similar formats can help reduce hesitation during the actual test. These question types can be found in logic puzzle books or educational apps. Reviewing examples in advance can help build confidence.

    ⇒ Try the IQ Test Free Online at QuickIQTest.org

    Set Up a Focused Environment

    Taking the test in a quiet and comfortable space can help reduce distractions. Before beginning, it’s recommended to:

    • Choose a time of day when you feel alert
    • Turn off phone notifications or close other browser tabs
    • Use headphones if background noise is a concern
    • Have a pen and paper nearby if you prefer to make notes

    The test at QuickIQTest.org is timed, so being prepared before starting allows you to focus on answering questions without interruptions.

    Manage Test Anxiety

    Some users may feel pressure when taking a timed test, especially if unfamiliar with the format. Keeping expectations realistic can reduce unnecessary stress.

    Here are a few basic strategies to manage test anxiety:

    • Take a few minutes to breathe deeply before starting
    • Remember that the score reflects performance at one moment, not overall intelligence
    • Stay focused on one question at a time
    • Move on if a question takes too long, and return to it later if possible

    Staying calm often leads to better performance than over-preparing or worrying about the outcome.

    ⇒ Fast & Accurate Free IQ Test with Free Results

    Rest and Mental Warmups

    Being well-rested can improve concentration and reduce mistakes. Try to get adequate sleep the night before and avoid taking the test when tired or distracted.

    Before starting the test, consider doing a short mental warmup. This could include:

    • Solving a few basic math problems
    • Looking at a sample logic puzzle
    • Reading a short article to get your mind working

    These steps help activate the thinking processes used during the test without causing fatigue.

    Use the Test as a Self-Check

    An IQ test is one way to observe how you approach problem-solving under time pressure. It does not require weeks of preparation. Reviewing question types and setting up a calm space can be enough for most users to feel ready.

    For those looking to take a free IQ test and free results, QuickIQTest.org offers a format that requires no registration and gives results immediately. You can take the IQ test for free and repeat it later to see how consistent your scores are over time.

    ⇒ Take a Proven Online IQ Test Free with Instant Feedback

    Most Accurate Free IQ Test Online With Instant Results in 2025


    What Accuracy Means in IQ Testing

    Accuracy in an IQ test refers to how well it measures the abilities it is designed to assess. A well-designed test should reflect actual reasoning skills, not test-taking tricks or memorized answers. This includes clear questions, controlled timing, and scoring models based on extensive sample data.

    Tests that adjust difficulty, apply consistent time limits, and avoid bias tend to produce more dependable scores. Randomized question order, structured answer formats, and logic-based scoring models help reduce user inconsistencies.

    ⇒ Free IQ Test Online with Proven Accuracy – Start Now

    Key Features That Contribute to Accuracy

    Several technical factors improve the reliability of an online IQ test:

    • Standardized scoring: Results are calibrated against age-based norms
    • Balanced question design: Covers a wide range of reasoning tasks
    • Time control: Limits help reduce inflated scores caused by prolonged thinking
    • Adaptive feedback: Some platforms tailor scores based on speed and accuracy

    These features help prevent results from being skewed by guessing, overthinking, or external interference.

    ⇒ Free IQ Test and Results – Take Yours Instantly

    Why QuickIQTest.org is Considered a Leading Option

    QuickIQTest.org is often recommended by users who want a reliable, fast, and unbiased cognitive test. It includes:

    • A fixed set of logic-based tasks
    • A consistent, timed format
    • Instant scoring based on data models that reflect a broad user base
    • No registration or user tracking required to access the results

    Each score uses established test theory principles modeled after long-standing IQ frameworks in education and psychology. This positions the site as a strong option for users seeking the most accurate IQ test available for free.

    The test has been used by students, professionals, and teachers across different fields. Many have cited its simplicity and fairness as reasons they recommend it to others.

    ⇒ Try a Free IQ Test with Instant Results – Trusted Platform

    Understanding Your IQ Score

    How Scores Are Calculated

    An IQ score is a number used to indicate how a person performed on a structured reasoning ability test compared to others in the same age group. Most modern IQ tests use a scale where the average score is 100.

    This number does not change significantly between test platforms that follow recognized standards. A proper scoring system compares individual results to a large sample of test-takers. Scores are then grouped into categories for interpretation.

    General Score Ranges

    IQ scores are often organized into bands that reflect different types of performance. While specific labels can vary by test, the general breakdown is as follows:

    • Below 85: Below average
    • 85 to 99: Low average
    • 100 to 114: Average range
    • 115 to 129: Above average
    • 130 and above: High ability or gifted range

    QuickIQTest.org uses this common structure to present scores clearly. After finishing the test, users receive their number score and an explanation of the performance range.

    ⇒ Start the Trusted Free IQ Test Online – QuickIQTest.org

    What the Score Means

    The score reflects how well the user completed reasoning tasks under controlled conditions. It does not measure creativity, motivation, knowledge, or communication skills. It is also not a prediction of future success. Instead, it shows how someone performed on a specific type of problem-solving under time pressure.

    For this reason, scores may change slightly between attempts, especially if a user is more familiar with the format the second time. Consistency across attempts is one way to check for reliability.

    How QuickIQTest.org Presents Results

    After completing the free IQ test with results, users are shown:

    • Their overall IQ score
    • A basic breakdown of task types (e.g., logic, patterns, numbers)
    • A brief interpretation of the score range

    There is no requirement to register to access these details. The feedback is available immediately after completing the test.

    The platform also allows users to try the test again at any time. This can help track progress or compare scores across different days or devices.

    ⇒ Get Your IQ Test Free Results at QuickIQTest.org

    Free IQ Tests for Kids, Teens, and Adults

    Why Age Matters in IQ Testing

    IQ scores reflect how a person performs with others in the same age group. This is why age is a key factor in the test format and the interpretation of results. A test that does not account for age can produce misleading outcomes.

    Children, teens, and adults often process information differently. The types of tasks they handle best and the time needed to complete them may vary. An accurate IQ test should use a scoring model that adjusts for these differences.

    Use Cases by Age Group

    IQ tests are used for different purposes depending on the age of the person taking them:

    • Kids: Educators and parents may use test results to understand learning strengths or to determine if further evaluation is needed for gifted programs or academic support.
    • Teens: Testing during high school can help students explore their problem-solving skills before choosing courses or college plans.
    • Adults: Some adults take IQ tests to assess their general reasoning ability or prepare for assessments in employment or training programs.

    Each group benefits from a structured test and scores according to typical performance ranges for that age.

    ⇒ Take an Online IQ Test Free and Get Fast, Honest Scores

    How QuickIQTest.org Accommodates All Age Groups

    QuickIQTest.org offers a consistent testing format appropriate for a wide range of users. The questions reflect general reasoning ability without relying on specific academic knowledge. This makes the test suitable for children, teens, and adults.

    For younger users, a version of the free IQ test for kids includes simpler language and visual-based questions. The scoring is adjusted to reflect developmental benchmarks rather than adult standards. Parents can use this version to get a general understanding of their child’s reasoning style.

    Teens and adults use the standard version, which includes a broader mix of logic, pattern, and number-based tasks. All users receive a clear score at the end of the test, and the process remains the same across devices.

    QuickIQTest.org provides an IQ test online free of charge with no registration needed. The test is timed, results are given instantly, and users can retake it to check consistency.

    Whether used in a school setting, at home, or during career planning, the platform supports access for users at different stages of learning and development.

    ⇒ Free IQ Test with Free Results – No Sign Up Needed!

    Is a Free Online IQ Test Legitimate?

    Traditional IQ assessments are often administered by licensed psychologists in a controlled setting. These tests may take one to two hours, involve verbal interviews, and include subtests scored manually. They are sometimes used in academic placement, psychological evaluations, or legal matters.

    Online IQ tests, by comparison, are self-directed and usually shorter. While they do not replace a full clinical evaluation, they can still offer valid feedback when built on recognized test design principles.

    The key difference is scope. A clinical test may assess more variables. An online test focuses on speed, logic, and pattern-based reasoning.

    ⇒ Take the Reliable Free IQ Test Online – Instant Results

    What Makes a Free Online IQ Test Credible

    A legitimate online IQ test follows specific practices that support fair scoring and user trust. These include:

    • Standardized test structure
    • Clear question formatting
    • Time limits for each section
    • Results based on sample population scoring models
    • No requirement to pay or register to access scores

    A site that uses inconsistent timing, does not explain scores, or inflates results without justification should be viewed cautiously.

    A real IQ test online also avoids advertising pressure or unrelated offers during test-taking. If a user is constantly redirected or asked for irrelevant information, it may not be a trustworthy source.

    ⇒ Try an Accurate IQ Test Free with Instant Results

    Why QuickIQTest.org Is Considered Reliable

    QuickIQTest.org is a legit and accurate free IQ test online used by individuals seeking a fast, structured way to evaluate basic reasoning ability. It uses a fixed test format, applies a consistent time frame for each user, and presents results immediately after the test.

    The scoring model is based on standard cognitive testing practices. The test includes logical reasoning, visual sequencing, and numeric analysis, all scored against a baseline designed to reflect average performance ranges.

    Users do not need to sign up or pay to access their scores. The platform does not collect personal data in exchange for results. This approach supports transparency and reduces barriers to testing.

    QuickIQTest.org has been used by students, job applicants, educators, and others looking to check cognitive problem-solving ability quickly. While it is not a substitute for a full clinical exam, it provides accurate feedback in a short format.

    ⇒ Get Proven Results with a Free Online IQ Test

    Conclusion

    QuickIQTest.org offers a free IQ test with instant results that is accurate, fast, and easy to access. The test follows a standardized structure, uses time-based scoring, and does not require registration. Users of all ages can complete the test on any device and receive immediate results backed by a real scoring model.

    Whether you’re looking for a legit IQ test online, a free accurate IQ test, or a iq test free online for kids, the platform provides a reliable option without unnecessary steps.

    FAQs

    What is the best free IQ test online with instant results?

    If you’re looking for a free IQ test with instant results, QuickIQTest.org offers one of the most trusted and scientifically designed options. It delivers fast scoring and immediate feedback without requiring registration.

    Can I really get an accurate IQ test for free?

    Yes, many platforms now offer an IQ test for free that is both reliable and informative. QuickIQTest.org provides a free IQ test online that evaluates core cognitive skills with a validated scoring model.

    Is there an IQ test free online with no registration needed?

    Absolutely. QuickIQTest.org offers a free IQ test online free of sign-ups. You can take the test instantly and receive results in under 10 minutes without creating an account or providing personal data.

    Where can I find a free IQ test with free results?

    You can access a free IQ test with free results at QuickIQTest.org. It’s completely free to take, and your score breakdown is available right after completion—no hidden fees or upsells.

    How long does it take to complete a free online IQ test?

    Most free online IQ test options take between 8 to 12 minutes. The one on QuickIQTest.org is designed to be efficient and accurate, offering a fast way to test your intelligence from any device.

    Do free IQ tests provide reliable results?

    While not all IQ test online free platforms are created equal, some like QuickIQTest.org use standardized question patterns and deliver credible results. It’s a free IQ test with results that reflect core aspects of intelligence.

    Are free IQ tests suitable for students and professionals?

    Yes, a high-quality free IQ test with results can be valuable for students, professionals, and anyone curious about their cognitive abilities. It helps identify strengths in logic, reasoning, and problem-solving.

    Can I take a free IQ test on my phone or tablet?

    Definitely. QuickIQTest.org offers a free IQ test online that’s fully optimized for mobile and desktop. You can complete the test on any device without downloading anything.

    What’s included in a free IQ test with instant results?

    typical free IQ test with instant results includes a score summary and performance breakdown across areas like pattern recognition, logic, and numerical reasoning—all delivered immediately after the test.

    Is there a free IQ test and free results option with no hidden costs?

     Yes. Platforms like QuickIQTest.org provide a free IQ test and free results with no hidden fees or tricks. You can test your IQ and view your score instantly without entering payment information.

    Media Contact
    Company: Quick IQ Test
    Contact Person: Sean C. Bailey
    Email: support@quickiqtest.org
    Address: 3445 Canterbury Drive, New York, NY 10016, USA
    URL: https://quickiqtest.org/
    Phone: +1 646-598-0584
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    All product reviews and descriptions reflect the author’s honest opinion based on available public data, user feedback, and scientific references at the time of writing. The inclusion of affiliate links does not influence the objectivity or integrity of the content. However, readers are encouraged to independently verify product information and consult with healthcare professionals prior to purchase or use.
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    The MIL Network –

  • MIL-OSI: Xpres Spa Named One of Yelp’s Most Loved Airport Brands

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 27, 2025 (GLOBE NEWSWIRE) — XWELL (Nasdaq: XWEL) (“XWELL” or the “Company”), a leading provider of wellness solutions for people on the go, is proud to share that Xpres Spa has been named one of Yelp’s “Most Loved Airport Brands.” Based off millions of reviews and ratings from U.S. travelers, Xpres Spa was ranked 10 out of 25 brands that have earned a loyal following among travelers.

    “Yelp’s recognition reinforces what we’ve seen firsthand: travelers are increasingly seeking comfort and quality at the airport,” said Ezra Ernst, CEO of XWELL. “Whether they’re arriving early to browse wellness-focused products or turning to sleeping pods during a long delay, they know Xpres Spa is there, and they’re making the most of it. We’re honored by this recognition and excited to extend our mission of self-care for all into new spaces this year.”

    New Locations in Clearwater and Penn Station

    This summer, XWELL will open its first out-of-airport locations in Clearwater, Florida and New York’s Penn Station. These openings mark a pivotal step in making premium self-care more accessible for consumers in high-traffic, high-need environments.

    In Clearwater, the Company will launch a wellness center offering its core treatments—massage, skincare, and recovery—in a standalone, modern retail setting. In New York, the Penn Station location will serve as a grab-and-go destination for wellness essentials tailored to busy commuters.

    Momentum Continues with Purposeful Partnerships

    In addition to geographic growth, XWELL is broadening its reach through new strategic partnerships. Most recently, the Company announced a multi-year collaboration with the Orlando Magic, officially designating XWELL as the “Official Wellness Spa” of the NBA Team.

    Looking Ahead

    In the weeks and months ahead, XWELL will continue to build on its momentum with additional location announcements, strategic partnerships with federal institutions, and a rollout plan that includes wellness access across both rural and metropolitan regions – ensuring its services are equitable, scalable, and rooted in real community needs.

    For more information, visit www.XWELL.com.  

    About XWELL, Inc.  

    XWELL, Inc. (Nasdaq: XWEL) is a global wellness holding company that operates a portfolio of brands dedicated to health, beauty, and self-care, including XpresSpa®, Treat™, Naples Wax Center®, XpresCheck®, and HyperPointe™. With locations in airports and metropolitan areas across the country, XWELL is redefining the modern wellness experience through innovation, personalization, and accessibility.  

    Forward-Looking Statements  
    This press release may contain “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These include statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “should,” “seeks,” “future,” “continue,” or the negative of such terms, or other comparable terminology. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: the anticipated use of proceeds from the private placement. Forward-looking statements relating to expectations about future results or events are based upon information available to XWELL as of the date of this press release, and are not guarantees of the future performance of the Company, and actual results may vary materially from the results and expectations discussed. Additional information concerning these and other risks is contained in the Company’s Annual Report on Form 10-K, as amended, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and other Securities and Exchange Commission filings. All subsequent written and oral forward-looking statements concerning XWELL, or other matters and attributable to XWELL or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. XWELL does not undertake any obligation to publicly update any of these forward-looking statements to reflect events or circumstances that may arise after the date hereof.  

    The MIL Network –

  • MIL-OSI Banking: India’s International Investment Position (IIP), March 2025

    Source: Reserve Bank of India

    Today, the Reserve Bank released data relating to India’s International Investment Position for end-March 2025[1].

    Key Features

    IIP during January-March 2025:

    • Net claims of non-residents on India declined by US$ 34.2 billion during Q4:2024-25 to US$ 330.0 billion as at end-March 2025.

    • Higher rise in Indian residents’ overseas financial assets (US$ 60.0 billion) as compared to that in the foreign-owned assets in India (US$ 25.8 billion) led to the decline in net claims of non-residents during the quarter (Table 1).

    • Increase in reserve assets accounted for over 54 per cent of the rise in Indian residents’ overseas financial assets, followed by currency & deposits and direct investments.

    • Rise in loans (US$ 10.0 billion) and inward direct investment (US$ 9.7 billion) together accounted for over three-fourths of the rise in foreign liabilities of Indian residents during January-March 2025.

    • Reserve assets accounted for 58.7 per cent of India’s international financial assets (Table 3).

    • The ratio of India’s international assets to international liabilities increased to 77.5 per cent in March 2025 from 74.8 per cent a quarter ago (Chart 1 & Table 1).

    • The share of debt liabilities in total external liabilities increased during the quarter and stood at 54.8 per cent (Table 4).

    IIP during April-March 2024-25:

    • During 2024-25, the net claims of non-residents declined by US$ 31.2 billion on the back of higher rise in India’s external financial assets (US $ 105.4 billion) vis-à-vis external financial liabilities (US $ 74.2 billion) (Table 1).

    • Over 72 per cent of the rise in India’s overseas financial assets was due to increase in overseas direct investment, currency & deposits, and reserve assets.

    • Inward direct investments, loans as well as currency & deposits accounted for over three-fourths of the rise in foreign liabilities during the year.

    • The ratio of India’s international financial assets to international financial liabilities increased to 77.5 per cent in March 2025 from 74.1 per cent a year ago (Chart 1 & Table 1).

    Ratio of International Financial Assets and Liabilities to Gross Domestic Product (GDP):

    • As a ratio to GDP (at current market prices), residents’ overseas financial assets increased and external financial liabilities declined during 2024-25 (Table 2).

    • The ratio of net claims of non-residents on India to GDP improved to (-)8.7 per cent in March 2025 from (-)10.1 per cent a year ago, and (-)14.1 per cent five years ago.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/616

    Table 1: Overall International Investment Position of India
    (US$ billion)
    Period Mar-24 (PR) Jun-24 (PR) Sep-24 (PR) Dec-24 (PR) Mar-25 (P)
    Net IIP (A-B) -361.2 -366.9 -353.0 -364.2 -330.0
    A. Assets 1,033.8 1,052.0 1,119.4 1,079.2 1,139.2
      1. Direct Investment 242.3 246.6 254.5 260.8 270.5
        1.1 Equity and investment fund shares 153.4 156.6 162.4 166.5 173.6
        1.2 Debt instruments 88.9 90.0 92.1 94.3 96.9
      2. Portfolio Investment 12.5 12.4 12.5 12.2 13.7
        2.1 Equity and investment fund shares 11.0 10.7 11.2 9.4 8.7
        2.2 Debt securities 1.5 1.7 1.3 2.8 5.0
      3. Other Investment 132.6 141.0 146.6 170.5 186.7
        3.1 Trade Credits 33.4 32.8 32.9 33.2 33.4
        3.2 Loans 17.6 20.8 22.1 22.5 25.9
        3.3 Currency and Deposits 53.5 57.8 56.1 68.6 79.3
        3.4 Other Assets 28.1 29.6 35.5 46.2 48.1
      4. Reserve Assets 646.4 652.0 705.8 635.7 668.3
    B. Liabilities 1,395.0 1,418.9 1,472.4 1,443.4 1,469.2
      1. Direct Investment 542.9 552.8 555.3 547.1 556.8
        1.1 Equity and investment fund shares 511.1 520.6 522.8 513.0 521.9
        1.2 Debt instruments 31.8 32.2 32.5 34.1 34.9
      2. Portfolio Investment 277.3 277.4 294.3 276.6 272.0
        2.1 Equity and investment fund shares 162.1 160.9 170.9 155.6 141.9
        2.2 Debt securities 115.2 116.5 123.4 121.0 130.1
      3. Other Investment 574.8 588.7 622.8 619.7 640.4
        3.1 Trade Credits 123.7 125.9 131.3 135.6 131.2
        3.2 Loans 221.4 224.6 239.4 240.6 250.6
        3.3 Currency and Deposits 154.8 160.6 164.1 165.7 167.6
        3.4 Other Liabilities 74.9 77.6 88.0 77.8 91.0
    of which:          
    Special drawing rights (Net incurrence of liabilities) 21.9 21.8 22.4 21.6 22.0
    Memo Item: Assets to Liability ratio (%) 74.1 74.1 76.0 74.8 77.5
    Notes (applicable for all tables):
    1. P: Provisional; PR: Partially Revised; and R: Revised.
    2. The sum of the constituent items may not add to the total due to rounding off.
    Table 2: Ratios of External Financial Assets and Liabilities to GDP
    (per cent)
    Period Mar-23 (R) Mar-24 (PR) Mar-25 (P)
    Net IIP (A-B) -11.3 -10.1 -8.7
    A. Assets 28.2 28.5 29.3
      1. Direct Investment 6.8 6.7 6.9
        1.1 Equity and investment fund shares 4.3 4.2 4.4
        1.2 Debt instruments 2.5 2.5 2.5
      2. Portfolio Investment 0.5 0.3 0.3
        2.1 Equity and investment fund shares 0.3 0.3 0.2
        2.2 Debt securities 0.2 –   0.1
      3. Other Investment 3.2 3.6 4.8
        3.1 Trade Credits 0.8 0.8 0.8
        3.2 Loans 0.4 0.5 0.7
        3.3 Currency and Deposits 1.0 1.5 2.1
        3.4 Other Assets 1.0 0.8 1.2
      4. Reserve Assets 17.7 17.9 17.3
    B. Liabilities 39.5 38.6 38.0
      1. Direct Investment 16.0 15.0 14.4
        1.1 Equity and investment fund shares 15.1 14.1 13.5
        1.2 Debt instruments 0.9 0.9 0.9
      2. Portfolio Investment 7.5 7.7 7.1
        2.1 Equity and investment fund shares 4.3 4.5 3.7
        2.2 Debt securities 3.2 3.2 3.4
      3. Other Investment 16.0 15.9 16.5
        3.1 Trade Credits 3.8 3.4 3.4
        3.2 Loans 6.2 6.1 6.5
        3.3 Currency and Deposits 4.3 4.3 4.3
        3.4 Other Assets 1.7 2.1 2.3
    of which:      
    Special drawing rights (Net incurrence of liabilities) 0.7 0.6 0.6
    Table 3: Composition of International Financial Assets and Liabilities of India
    (per cent)
    Period Mar-24 (PR) Jun-24 (PR) Sep-24 (PR) Dec-24 (PR) Mar-25 (P)
    A. Assets
    1. Direct Investment 23.4 23.4 22.7 24.2 23.7
    2. Portfolio Investment 1.2 1.2 1.1 1.1 1.2
    3. Other Investment 12.9 13.4 13.1 15.8 16.4
    4. Reserve Assets 62.5 62.0 63.1 58.9 58.7
    Total 100.0 100.0 100.0 100.0 100.0
    B. Liabilities
        1. Direct Investment 38.9 39.0 37.7 37.9 37.9
        2. Portfolio Investment 19.9 19.5 20.0 19.2 18.5
        3. Other Investment 41.2 41.5 42.3 42.9 43.6
    Total 100.0 100.0 100.0 100.0 100.0
    Table 4: Share of External Debt and Non-Debt Liabilities of India
    (per cent)
    Period Mar-24 (PR) Jun-24 (PR) Sep-24 (PR) Dec-24 (PR) Mar-25 (P)
    Non-Debt Liabilities 48.3 48.0 47.1 46.3 45.2
    Debt Liabilities 51.7 52.0 52.9 53.7 54.8
    Total 100.0 100.0 100.0 100.0 100.0

    MIL OSI Global Banks –

  • MIL-OSI Economics: Developments in India’s Balance of Payments during the Fourth Quarter (January-March) of 2024-25

    Source: Reserve Bank of India

    Preliminary data on India’s balance of payments (BoP) for the fourth quarter (Q4), i.e., January-March 2024-25, are presented in Statements I and II.

    Key Features of India’s BoP in Q4:2024-25

    • India’s current account balance recorded a surplus of US$ 13.5 billion (1.3 per cent of GDP) in Q4:2024-25 as compared with US$ 4.6 billion (0.5 per cent of GDP) in Q4:2023-24 and against a deficit of US$ 11.3 billion (1.1 per cent of GDP) in Q3:2024-25.1
    • Merchandise trade deficit at US$ 59.5 billion in Q4:2024-25 was higher than US$ 52.0 billion in Q4:2023-24. However, it moderated from US$ 79.3 billion in Q3:2024-25.
    • Net services receipts increased to US$ 53.3 billion in Q4:2024-25 from US$ 42.7 billion a year ago. Services exports have risen on a y-o-y basis in major categories such as business services and computer services.
    • Net outgo on the primary income account, primarily reflecting payments of investment income, moderated to US$ 11.9 billion in Q4:2024-25 from US$ 14.8 billion in Q4:2023-24.
    • Personal transfer receipts, mainly representing remittances by Indians employed overseas, rose to US$ 33.9 billion in Q4:2024-25 from US$ 31.3 billion in Q4:2023-24.
    • In the financial account, foreign direct investment (FDI) recorded a net inflow of US$ 0.4 billion in Q4:2024-25 as compared to an inflow of US$ 2.3 billion in the corresponding period of 2023-24.
    • Foreign portfolio investment (FPI) recorded a net outflow of US$ 5.9 billion in Q4:2024-25 as against a net inflow of US$ 11.4 billion in Q4:2023-24.
    • Net inflows under external commercial borrowings (ECBs) to India amounted to US$ 7.4 billion in Q4:2024-25, as compared to US$ 2.6 billion in the corresponding period a year ago.
    • Non-resident deposits (NRI deposits) recorded a net inflow of US$ 2.8 billion in Q4:2024-25, lower than US$ 5.4 billion a year ago.

    BoP During 2024-25

    • India’s current account deficit at US$ 23.3 billion (0.6 per cent of GDP) during 2024-25 was lower than US$ 26.0 billion (0.7 per cent of GDP) during 2023-24, primarily due to higher net invisibles receipts.

    • During 2024-25, FPI recorded a net inflow of US$ 3.6 billion, lower than US$ 44.1 billion a year ago.

    Table 1: Major Items of India’s Balance of Payments
    (US$ billion)
      January-March 2024 PR January-March 2025 P 2023-24 PR 2024-25 P
      Credit Debit Net Credit Debit Net Credit Debit Net Credit Debit Net
    A. Current Account 253.5 248.9 4.6 264.9 251.4 13.5 942.8 968.9 -26.0 1018.3 1041.6 -23.3
    1. Goods 121.6 173.6 -52.0 116.3 175.8 -59.5 441.4 686.4 -244.9 441.8 729.0 -287.2
       of which:                        
          POL 22.2 48.8 -26.5 14.1 44.3 -30.2 84.2 178.7 -94.6 63.3 185.8 -122.4
    2. Services 89.4 46.7 42.7 102.0 48.7 53.3 341.1 178.3 162.8 387.5 198.7 188.8
    3. Primary Income 10.5 25.3 -14.8 11.9 23.8 -11.9 41.5 91.2 -49.7 53.4 101.8 -48.4
    4. Secondary Income 32.1 3.4 28.7 34.7 3.2 31.5 118.9 13.0 105.9 135.6 12.1 123.5
    B. Capital Account and Financial Account 248.0 253.3 -5.2 255.8 270.2 -14.4 851.9 826.3 25.6 1154.5 1132.8 21.7
       of which:                        
    1. Direct Investment 20.2 17.9 2.3 18.5 18.1 0.4 74.9 64.8 10.2 84.2 83.2 1.0
    2. Portfolio Investment 138.9 127.5 11.4 126.0 131.8 -5.9 466.1 422.0 44.1 639.3 635.8 3.6
    3. Other Investments 82.7 67.7 14.9 106.2 98.8 7.4 287.8 244.7 43.1 368.6 334.2 34.5
       of which:                        
         NRI Deposits 26.0 20.7 5.4 26.3 23.5 2.8 88.6 73.9 14.7 104.5 88.4 16.2
         ECBs to India 11.7 9.2 2.6 15.6 8.2 7.4 33.5 29.9 3.5 47.8 29.4 18.4
    4. Reserve Assets [Increase (-)/Decrease (+)] 0.0 30.8 -30.8 0.0 8.8 -8.8 0.0 63.7 -63.7 37.7 32.6 5.0
    C. Errors & Omissions (-) (A+B) 0.6 0.0 0.6 0.9 0.0 0.9 1.6 1.2 0.4 2.0 0.4 1.5
    PR: Partially Revised; and P: Preliminary.
    Note: Total of sub-components may not tally with aggregate due to rounding off.

    (Puneet Pancholy)   
    Chief General Manager

    Press Release: 2025-2026/611

    MIL OSI Economics –

  • MIL-OSI Africa: SA ratifies landmark women and youth protocol for inclusive trade

    Source: South Africa News Agency

    South Africa has taken a significant step in fostering inclusive growth by officially ratified the Protocol Women and Youth in Trade under the African Continental Free Trade Area.

    This was announced by Deputy President Paul Mashatile, who addressed the High-Level G20 Intergenerational Roundtable, hosted by the National Youth Development Agency (NYDA) on Friday.

    “This milestone is not just a symbolic gesture; it is a decisive policy action that signals our intent to mainstream gender and youth equity within intra-African trade policy.

    “The protocol is significant because it operationalises the inclusion of woman-led and youth-led enterprises in regional and global value chains. It mandates the removal of structural trade barriers, prioritises access to information, finances, and markets, as well as requires state parties to create enabling legal and policy environments for inclusive economic participation,” he said.

    The Deputy President reflected on the continent’s youthful population and noted that youth “remain on the margins of formal trade”.

    Therefore, the protocol on women and youth will assist to “rewire trade systems to reflect demographic and developmental realities”.

    “South Africa’s ratification means we are committed not only to advocating for inclusive trade but also to designing trade systems that are fit for purpose. This inclusion reinforces South Africa’s leadership role on the continent and supports the broader message of building youth capabilities for a developmental State.

    “We understand that we need young people to meaningfully build capable, ethical, and developmental states. We must integrate youth into national and continental planning frameworks, not just as beneficiaries but also as co-architects of development,” he said.

    Promoting inclusive growth

    Mashatile emphasised that a “functioning and competent” government is needed if youth are to break free from marginalisation.

    “Therefore, the first and most pressing priority of our government is the promotion of inclusive economic growth, industrialisation, employment, and reducing inequality.

    “The time has come for us to move beyond inclusion as a moral goal and make it a measurable outcome.

    “In this regard, it is important for the economy to strengthen the viable pathways for youth inclusion. We have noted that young people complain about the red tape and bureaucratic hurdles they need to overcome to access services designed to support and scale their entrepreneurial effort,” Mashatile said.

    He noted that a specialised unit has been established in the Presidency to address the business climate and address regulatory challenges.

    “This team is adopting a coordinated, cross-sectoral approach, engaging various government departments and entities to streamline processes and enable business growth.

    “Key interventions in this regard will target the removal of administrative bottlenecks in strategic sectors. These include improvements to the mining licensing framework, facilitation of tourism transport permits, and streamlining of visa and work permit processes, as well as regulatory support for early childhood development services and the informal economy,” Mashatile said.

    Furthermore, government will:

    • Anchor youth inclusion in every major pillar of our G20 Presidency, from climate finance and trade facilitation to digital transformation and skills mobility.
    • Institutionalise intergenerational co-leadership in governance frameworks, moving beyond consultation to shared power and shared design.
    • Work with regional and global partners to implement targeted reforms that enable young people to start businesses, access capital, and engage in cross-border trade.

    “The developmental State we seek to build is not a theoretical construct; it must be a living architecture built on the capabilities, aspirations, and contributions of its young people.

    “This roundtable has made one thing clear: youth are not merely beneficiaries of policy; they are builders of nations. We must now ensure that the decisions we take at multilateral forums reflect this truth. 

    “Let the G20 remember that Africa is young. South Africa is ready, and we want young people to take the lead in the developmental and transformation agenda. The future is yours, and you are the future. Stand up, persevere, and confront every challenge with persistence. We are here to provide you with the support you need as you navigate this process,” the Deputy President concluded. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Economics: Scheduled Banks’ Statement of Position in India as on Friday, June 13, 2025

    Source: Reserve Bank of India

    (Amount in ₹ crore)
      SCHEDULED COMMERCIAL BANKS
    (Including RRBs, SFBs and PBs)    		 ALL SCHEDULED BANKS
    14-Jun-2024 30-May-2025* 13-Jun-2025* 14-Jun-2024 30-May-2025* 13-Jun-2025*
    I LIABILITIES TO THE BKG.SYSTEM (A)            
      a) Demand & Time deposits from banks 273308.16 365140.08 340603.24 277097.38 370999.12 346319.8749**
      b) Borrowings from banks 152185.60 110552.25 109671.80 152187.60 110574.25 109889.53
      c) Other demand & time liabilities 76032.19 25071.47 23927.34 76298.36 25465.93 24362.82
    II LIABILITIES TO OTHERS (A)            
      a) Deposits (other than from banks) 20902918.17 23172542.62 23069772.55 21358407.93 23662773.91 23561872.69
      i) Demand 2390694.11 2988920.70 2859239.01 2440672.19 3038379.44 2908818.31
      ii) Time 18512224.06 20183621.92 20210533.54 18917735.75 20624394.47 20653054.38
      b) Borrowings @ 780674.69 895727.00 837462.68 785083.63 900193.89 841977.70
      c) Other demand & time liabilities 965607.06 1034573.60 1106232.23 978521.91 1047707.96 1120178.02
    III BORROWINGS FROM R.B.I. (B) 111102.00 6516.00 2248.00 111102.00 6516.00 2248.00
      Against usance bills and / or prom. Notes            
    IV CASH 85283.14 87179.07 90471.61 87674.97 89604.92 93073.93
    V BALANCES WITH R.B.I. (B) 983708.00 956086.24 932453.46 1003434.00 975236.91 951630.59
    VI ASSETS WITH BANKING SYSTEM            
      a) Balances with other banks            
      i) In current accounts 7664.17 11434.59 10498.68 10483.91 13853.23 12729.59
      ii) In other accounts 178513.58 255330.58 244036.86 224431.26 318135.43 308394.18
      b) Money at call & short notice 11390.08 22812.64 21743.92 25192.27 40349.51 37684.89
      c) Advances to banks (i.e. due from bks.) 52270.19 36147.80 31496.42 54389.85 38542.46 33717.34£
      d) Other assets 107937.02 78091.66 65849.37 110591.29 82799.25 71109.15
    VII INVESTMENTS (At book value) 6231385.82 6706717.24 6691443.60 6384112.72 6861687.28 6877810.85
      a) Central & State Govt. securities+ 6230374.06 6706168.85 6690874.45 6376135.84 6853140.23 6869498.86
      b) Other approved securities 1011.77 548.39 569.14 7976.88 8547.05 8311.99
    VIII BANK CREDIT (Excluding Inter-Bank Advances) 16706417.54 18287376.91 18313977.69 17143118.18 18753740.95 18783780.83
      a) Loans, cash credits & Overdrafts $ 16392988.28 17949958.34 17976567.95 16826405.29 18412982.24 18443143.24
      b) Inland Bills purchased 64052.90 79467.07 78124.27 65383.33 80743.89 79300.44
      c) Inland Bills discounted 208278.98 222449.12 223752.50 209565.71 223956.61 225217.50
      d) Foreign Bills purchased 16140.00 13866.49 13510.87 16370.65 14063.24 13738.06
      e) Foreign Bills discounted 24957.38 21635.89 22022.09 25393.21 21994.97 22381.60
    NOTE
    * Provisional figures incorporated in respect of such banks as have not been able to submit final figures.
    (A) Demand and Time Liabilities do not include borrowings of any Scheduled State Co-operative Bank from State Government and any reserve fund deposits maintained with such banks by any co-operative society within the areas of operation of such banks.
    ** This excludes deposits of Co-operative Banks with Scheduled State Co-operative Banks. These are included under item II (a).
    @ Other than from Reserve Bank, National Bank for Agriculture and Rural Development and Export Import Bank of India.
    (B) The figures relating to Scheduled Commercial Banks’ Borrowings in India from Reserve Bank and balances with Reserve Bank are those shown in the statement of affairs of the Reserve Bank. Borrowings against usance bills and/ or promissory notes are under Section 17(4)(c) of the Reserve Bank of India Act, 1934. Following a change in the accounting practise for LAF transactions with effect from July 11, 2014, as per the recommendations of Malegam Committee formed to Review the Format of Balance Sheet and the Profit and Loss Account of the Bank, the transactions in case of Repo / Term Repo / MSF are reflected under ‘Borrowings from RBI’.
    £ This excludes advances granted by Scheduled State Co-operative Banks to Co-operative banks. These are included under item VIII (a).
    + Includes Treasury Bills, Treasury Deposits, Treasury Savings Certificates and postal obligations.
    $ Includes advances granted by Scheduled Commercial Banks and Scheduled Cooperative Banks to Public Food Procurement Agencies (viz. Food Corporation of India, State Government and their agencies under the Food consortium).
    Food Credit Outstanding as on
    (Amount in ₹ crore)
    Date 14-Jun-2024 30-May-2025 13-Jun-2025
    Scheduled Commercial Banks 36923.02 70580.71 67605.56
    Scheduled Co-operative Banks 50622.17 51972.99 51974.00

    The expression ‘Banking System’ or ‘Banks’ means the banks and any other financial institution referred to in sub-clauses (i) to (vi) of clause (d) of the explanation below Section 42(1) of the Reserve Bank of India Act, 1934.

    No. of Scheduled Commercial Banks as on Current Fortnight:120

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/606

    MIL OSI Economics –

  • US stock futures rise ahead of inflation data as investors anticipate dovish Fed

    Source: Government of India

    Source: Government of India (4)

    U.S. stock index futures surged on Friday, putting the S&P 500 and the Nasdaq on track for record highs as investors geared up for a key inflation report amid signs of a dovish policy outlook from the Federal Reserve this year.

    Personal Consumption Expenditure data – the U.S. central bank’s preferred inflation gauge – for May is due to be released at 08:30 a.m. ET and will be scrutinized to assess the Fed’s interest-rate path as tariffs weigh on prices.

    As the ceasefire in the Middle East holds, investor focus has turned to the prospect of a dovish Fed after the Wall Street Journal reported that U.S. President Donald Trump toyed with the idea of announcing Fed Chair Jerome Powell’s replacement by September or October.

    “News that Donald Trump may announce his pick to be the new Fed chair with months to go has led the interest rate futures market to ramp up bets that interest rates in the U.S. will be cut sharply over the coming months and years,” Kathleen Brooks, research director at XTB, said in a note.

    A spate of economic data this week, including a weaker-than-expected first quarter GDP reading as well as jobless claims reaching multi-year highs, has supported the case for the central bank to cut borrowing costs this year.

    Traders now price in a 20.7% chance of a rate cut in July, compared with 14.5% last week, according to CME Group’s FedWatch tool.

    At 06:30 a.m. ET, Dow E-minis YMcv1 were up 103 points, or 0.24%, S&P 500 E-minis EScv1 were up 13.5 points, or 0.22%, and Nasdaq 100 E-minis NQcv1 were up 63.5 points, or 0.28%.

    Nike’s NKE.N shares rose 9.2% in premarket trading after the retailer forecast a smaller-than-expected drop in first-quarter revenue.

    Retailer Lululemon Athletica LULU.O rose 1.4% after Nike’s results, while Hoka-owner Deckers Outdoor DECK.N added 2.1%.

    On the flip side, gold stocks slipped in premarket trading as bullion neared a one-month low. Top miners such as Newmont NEM.N and U.S.-listed Barrick Mining B.N were down 2.3% and 2%, respectively.

    The benchmark S&P 500 .SPX and the Nasdaq .IXIC are on track for their best weekly performance in six weeks, while the blue-chip Dow .DJI is set for a weekly advance, if gains hold.

    UBS Global Wealth Management raised its year-end target for the S&P 500 index .SPX to 6,200 from its prior forecast of 6,000, banking on softening trade uncertainty.

    Adding to the upbeat sentiment, Washington reached an agreement with China on expediting rare-earth shipments to the United States, a White House official said, days ahead of the July 9 deadline for Trump’s “reciprocal” tariffs.

    Also on tap is the final reading of consumer sentiment for June, measured by the University of Michigan Surveys of Consumers, due at 10:00 a.m. ET.

    Remarks from New York Fed President John Williams, Cleveland Fed President Beth Hammack and Fed Board Governor Lisa Cook are expected later in the day.

    (Reuters)

  • MIL-OSI China: Exhibition highlights Beijing’s core area development

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

    Beijing on Thursday launched an exhibition that highlights the city’s efforts in developing its core functional areas. Hosted by the Beijing Municipal Commission of Planning and Natural Resources, the exhibition showcases the city’s development from 2020 to 2024 in urban planning, heritage preservation, public services, and smart city construction.

    In August 2020, China approved a plan for developing the core area of Beijing for the 2018-2035 period, focusing on its functions of serving central administrative organs as well as the firm and stressing the orderly relief of non-capital roles. As part of this plan, the first and second phases of municipal office relocations were completed, freeing up space for optimized land use and better public access.

    The exhibition highlights Beijing’s success in protecting its historical urban landscape. In July 2024, the Beijing Central Axis was recognized as a UNESCO World Heritage Site, marking a milestone in the city’s cultural preservation work. 

    Important heritage sites such as the Wanchun Pavilion in the Jingshan Hill and the Temple of Heaven’s Qiniandian (Hall of Prayer for Good Harvests) have been repaired. Several of these locations, including the Zhengyangmen Gate arrow tower, are now open to the public.

    In addition to protecting historical monuments, the city has revised regulations to expand protection to more ancient buildings. Exhibits highlight examples like the Tongxinghe Carpentry Shop, demonstrating how architectural conservation is combined with traditional craftsmanship. To date, authorities have identified and listed over 1,056 historical buildings across the city’s 11 districts.

    Beyond heritage preservation, the exhibition showcases improvements to local communities. These include renovation of older residential communities, the development of specialized public services, as well as new infrastructure and transportation facilities 

    In addition, the exhibition highlights how smart city technologies are shaping the future of urban governance. For example, an interactive screen in the exhibition hall shows the core functions of a digital platform for smart planning and governance. 

    This exhibition will remain a permanent feature at the Beijing Planning Exhibition Hall. It is open to the public from Tuesday through Sunday each week and closed on Mondays. Visitors can reserve tickets through the official WeChat account of the Beijing Planning Exhibition Hall.

    MIL OSI China News –

  • MIL-OSI Africa: More still needs to be done to strengthen government programmes

    Source: South Africa News Agency

    While South Africa has made significant strides in developing strategies, building infrastructure, and attracting investment, more must be done to ensure government programmes have a broader and deeper impact on the national economy.

    This was said by the Special Economic Zones (SEZ) Special Advisor at the Department of Trade, Industry and Competition (the dtic), Maoto Molefane, during the SSEZ CEOs Forum, held at the Industrial Development Corporation (IDC) in Johannesburg, on Thursday. 

    The high-level engagement brought together key stakeholders, including business leaders, government officials, and development partners to reflect on the state of the country’s SEZs and provide input into the draft Spatial Industrial Development Strategy (SIDS). The strategy proposes a reimagined model for SEZs, industrial parks, and township economic development.

    Molefane called for a shift from “business-as-usual” approach to meaningful implementation that delivers measurable outcomes that will help reignite the country’s re-industrialisation agenda.

    “We continue to face stubborn challenges of poverty, inequality and unemployment, and we have to change that. Our view as the dtic is that all the challenges facing this country can only be addressed if we create decent jobs. 

    “Through jobs, the number of the South African Social Security Agency recipients will decrease, our tax revenue will increase, informal settlements will shrink, and social ills like crime will subside,” Molefane said.

    Molefane emphasised the need for a strategic rethink of the SEZ framework, grounded from past lessons, and guided by the material conditions facing both communities and investors.

    “We are no longer in the business of issuing SEZ licences. Our job is not to designate for the sake of designating. Our job is to industrialise this country. The designation of an SEZ should find us already on the ground doing the work to support investments,” he added.

    As part of its course correction, Molefane noted that the dtic has introduced several measures, including the establishment of a Special Economic Zones Programme Management Unit (PMU) to provide technical support, ensure greater national oversight, help build necessary industrial infrastructure, and require firm investment commitments before any new SEZ is proclaimed.

    “The draft strategy also responds to spatial and economic disparities by prioritising geographic areas with industrial potential, even those without designated SEZs. 

    “This ensures that township economies, underutilised industrial parks, and marginalised municipalities are not left behind in the national effort to reindustrialise. 

    “There is a need for coherence and collaboration across all levels of government to deliver impactful, place-based interventions,” highlighted Molefane.

    The forum also noted the progress made by well-performing zones like Coega, East London, Dube TradePort, and the Tshwane Automotive SEZ (TASEZ), while acknowledging the ongoing work required to integrate Black industrialists, link small businesses, and align SEZs with broader regional development goals.

    Stakeholders in attendance welcomed the frankness of the presentation and underscored the importance of turning South Africa’s SEZs into globally competitive zones of productivity, innovation, and inclusive economic opportunity. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: WTO Sherpa urges Africa to take charge of its economic destiny

    Source: South Africa News Agency

    The World Trade Organisation (WTO) Sherpa, Dr Bright Okogu, has challenged African nations to take decisive steps in transforming their economic landscape by creating robust investment environments and processing raw materials domestically.

    “Africa needs to take charge of its own destiny,” Okogu said on Friday. 

    Traditional development aid, the Sherpa said, is rapidly diminishing, making it imperative for African countries to attract quality investments.

    “There’s no running away from it. The aid that people used to depend on is no longer available. It’s been very clear that aid is drying up and with all the changes in the world, people are spending more money on defence in their own countries. So you can’t rely on it, which makes it necessary to ensure you can attract good investment to your country.” 

    Okogu spoke during the Group of 20 (G20) Sherpa meeting at the Sun City Resort in the North West province.

    He highlighted key recommendations, including developing clear regulatory frameworks, removing bureaucratic obstacles, and investing in local processing capabilities.

    Okogu said current intra-African trade remains low, hovering around 15%-16% when it should ideally reach 30%-40%. 

    He noted some hurdles including limited infrastructure, similar raw material production, and complex transportation networks that often force African countries to trade through European intermediaries.

    Okogu pointed out the anomalies of current trade routes, including instances where African airlines must fly indirect routes through other continents to connect with neighboring countries.

    “Countries must invest in converting raw materials into finished products. Take cocoa, for example. Instead of exporting raw beans, African nations should be producing chocolate and cosmetic products, thereby capturing more economic value.”

    Okogu stated that the WTO is supporting reform efforts, recognising that meaningful change requires dismantling long-standing structural barriers.

    The WTO, the world’s largest international economic organisation with 166 members representing over 98% of global trade and global gross domestic product (GDP), has since outlined key recommendations. 

    These, according to Okogu, involve investing in local processing capabilities, developing streamlined regulatory frameworks, creating attractive investment environments, and improving continental transportation infrastructure. 

    “Critical minerals like lithium represent enormous potential, but countries must negotiate investment terms strategically, ensuring local job creation and value addition.” 

    He also took the time to encourage dialogue to resolve trade tensions. – SAnews.gov.za

    MIL OSI Africa –

  • India exports first consignment of rose-scented litchi from Pathankot to Qatar

    Source: Government of India

    Source: Government of India (4)

    In a boost to India’s horticultural exports, the first consignment of rose-scented litchi from Pathankot, Punjab, was flagged off to Doha, Qatar, on Friday. The one-metric-tonne consignment marks a major milestone for India’s agri-export sector and was facilitated by the Agricultural and Processed Food Products Export Development Authority (APEDA) under the Ministry of Commerce & Industry, in collaboration with the Punjab Horticulture Department.

    Additionally, a separate 0.5-metric-tonne shipment was exported to Dubai, UAE, further strengthening India’s footprint in global fresh fruit markets.

    The premium litchis, supplied by progressive farmer Prabhat Singh from Sujanpur, were shipped in refrigerated pallets to ensure freshness. This initiative highlights the export potential of Pathankot, which benefits from ideal agro-climatic conditions for litchi cultivation.

    According to the National Horticulture Board, Punjab produced 71,490 metric tonnes of litchi in FY 2023–24, contributing over 12% to India’s total litchi output. During the same period, India exported 639.53 metric tonnes of litchi.

    With India’s fruit and vegetable exports reaching USD 3.87 billion in FY 2024–25—a 5.67% increase over the previous year—products like litchi, cherries, and jamun are gaining growing acceptance in international markets, alongside traditional favourites like mangoes, bananas, and grapes.

    The government’s continued efforts to support farmers, promote value-added agriculture, and expand global market access through APEDA are paving the way for India to emerge as a leading exporter of high-quality horticultural produce.

  • MIL-OSI United Kingdom: UKEF announces enhanced business support to supercharge international trade

    Source: United Kingdom – Executive Government & Departments

    Press release

    UKEF announces enhanced business support to supercharge international trade

    UK Export Finance introduces new products that offer enhanced support and security for smaller businesses when trading internationally

    Smaller businesses are set to benefit from extra government support to maximise orders from international buyers UK Export Finance (UKEF) unveils today, delivering on commitments set out in the government’s new Trade Strategy.  

    The export credit agency and government department plays a vital role in stimulating exports and enhancing accessibility for exporters of all sizes nationwide. 

    UKEF has enhanced its export insurance with a new Small Export Builder option, making export protection more accessible to smaller businesses seeking financial security when trading internationally. 

    The department is also introducing a ‘Repeat Order Guarantee’ so international buyers can easily keep accessing goods and services from their most trusted UK suppliers of all sizes and in a more streamlined way without the need of repeated applications, reducing red tape for business. This will help businesses to plan ahead and give greater assurance to UK-based supply chains. 

    Trade Minister Douglas Alexander said:

    This new hard-headed, data driven, and agile approach to trade policy is guided by our pragmatic patriotism. In this changed and challenging world, we will promote what we can and protect what we must to advance the UK’s national interest.   

    Through our Trade Strategy, we are supporting our businesses to expand and export with a wider range of trade tools that harness our high-growth industries of the future to deliver this government’s Plan for Change. 

    With its larger £80 billion remit, UKEF takes a central role in helping the government to achieve its trade objectives, and support exporters to fulfil orders, create jobs and get paid. 

    UK Export Finance CEO Tim Reid added:

    We’re focused on delivering measurable impact for our customers, placing their needs at the heart of everything we do.  

    UKEF supports businesses through providing financing, guarantees and insurance to support UK exports. We continue to focus on making our products more accessible and easier to use.  

    Our updated insurance offer and Repeat Order Guarantee are fantastic additions to our portfolio and underscore our efforts to support long-term export growth.

    The measures are announced ahead of UKEF’s 2024/25 annual report & accounts which will be published soon.  

    The results will build on the 2023/24 financial year in which UKEF provided over £8.8 billion of support to 650 businesses, supported up to 41,000 jobs in communities around the whole UK and the contribution of up to £3.3 billion to the overall economy. 

    Updates to this page

    Published 27 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI Australia: Address to the Maritime Industry Australia Decarbonisation Summit, Melbourne

    Source: Commonwealth Director of Public Prosecutions

    **CHECK AGAINST DELIVERY**

    Thank you, Angela for your kind introduction, and congratulations to you and your team on organising this important event for the maritime industry.

    I begin by respectfully acknowledging the Traditional Custodians of the land on which we meet today. 

    I pay my respects to their Elders past and present, and I extend that respect to any and all First Nations people joining us today.

    Australia’s First Nations people were our first maritime traders. 

    This rich and deep history included trade with Macassan ships from Indonesia along our Northern frontier, and seafaring trade in the Torres Strait, and along the coast of Papua New Guinea. Our modern maritime industry builds on this tradition.

    I’d also like to acknowledge, from the Victorian Government, Melissa Horne MP, Minister for Health Infrastructure, Ports and Freight, and Roads and Road Safety.

    And Professor Rod Sims AO, from the Crawford School of Public Policy at the ANU – thank you for joining us today.

    The theme of this Summit is ‘progress’ and we come together on the International Day of the Seafarer. 

    It couldn’t be more timely given the current geopolitical state of the world and the imperative of decarbonisation. 

    These are the realities of our times.

    It is more important than ever for Australia to have a strong and sovereign maritime sector, and for us to embrace both the challenges and the opportunities of decarbonisation. 

    The maritime industry is absolutely vital for Australia’s prosperity. 

    As the lyrics of our national anthem state, ours is a nation ‘girt by sea’.

    Our coastline extends across some 60,000 kilometres and includes 12,000 islands.

    It is the great sea roads and maritime highways leading from our shores that connect Australia with the world, and centres us in the Asia-Pacific region. 

    Our society and economy depend utterly on the ships that ply these routes. 

    These are our supply chains.

    Shipping is responsible for over 99 per cent of our nation’s international trade.

    We are the fifth largest user of shipping services in the world, and the world’s largest bulk commodities exporter.

    Our ports handle over 1.6 billion tonnes of cargo, and welcome 29,000 visits every year from international trading ships. 

    A substantial proportion of our domestic freight also depends on coastal shipping. 

    And let’s not forget that the maritime sector is an important employer – ports activities alone account for an extraordinary one in 20 jobs in our country.

    This morning, I’d like to give you an overview of what our government is doing to support your vital industry.

    The Prime Minister has made clear a major focus this term would be supporting industries across the economy to drive productivity, and to do that while also lifting job security and job quality. 

    In the lead up to the Treasurer’s upcoming Reform Roundtable, I intend to host a meeting with key transport and logistics industry representatives, including the maritime sector, to discuss ways to grow the economy and increase productivity. 

    We want to build an economy where growth, wages and productivity rise together.

    And we are committed to modernising Australia’s maritime sector; including through its regulatory framework.

    The Shipping Registration Act came into being in 1981, in very different times.

    Modernising it is another of our Government’s priorities, to ensure it is fit for purpose and supports the long-term sustainability of an Australian strategic fleet. 

    Our independent review of the Shipping Registration Act is now complete. 

    I’d like to thank its leaders — Former Public Service Commissioner Lynelle Briggs, and Nicholas Gaskell, Emeritus Professor of Maritime and Commercial Law at the University of Queensland — for their efforts.

    Lynelle and Nick conducted comprehensive stakeholder consultation as part of their review, and they have incorporated extensive feedback into their report. 

    They are continuing with their parallel review of the Coastal Trading Act 2012, which is due to report later this year.

    Another crucial step we are taking to improve maritime resilience and capability is the establishment of a strategic fleet ― 12 Australian flagged and crewed vessels that will enable the movement of critical cargo during crises and emergencies.  

    Our Government committed funding in the 2024-25 Budget to establish a five-year Strategic Fleet Pilot Program comprising three vessels.

    These will be privately owned, commercially operated and will be available to the Australian Government to requisition in times of need. 

    Tenders for the Pilot program are currently being evaluated through a competitive, open and transparent process that will ensure the government achieves value for money.

    The Strategic Fleet provides the opportunity for growth and transformation in Australia’s maritime sector in a way that supports Australia’s economic prosperity, security and way of life well into the future.

    The Pilot will provide an evidence-base for future proposals to expand the fleet and fully deliver on our Government’s commitment.

    Once procurement for the Pilot Fleet is complete we will make a public announcement regarding the outcome and indicative timing for the first vessels on the water.

    Industry has been heavily involved in shaping the government’s Strategic Fleet policy through consultation processes, and this engagement will continue in the implementation stage.

    Our domestic policy needs to progress our national interests, and it also needs to be in-step with global developments.

    Australia’s presence at International Maritime Organisation enables this.

    Shipping is by nature a global industry, and Australia’s interests are represented in this world forum.

    Australia’s presence at the IMO also enables our engagement with international efforts to reduce emissions and prevent ship-based pollution of all kinds.

    During our first term, our Government supported the IMO to adopt a Revised Strategy on the Reduction of Emissions from Ships, and reach Net Zero emissions by 2050.

    The Strategy’s decarbonisation pathway includes mid‑term measures such as annual fuel intensity targets, a greenhouse gas emissions economic measure, and a reward system for sustainable fuel adoption.

    It sets target reductions of 30 per cent by 2030 and 80 per cent by 2040 compared to 2008 levels, as well as a target of 10 percent for the uptake of zero-emission fuels by 2030.

    In April, the IMO made the historic decision to circulate measures that will achieve these targets.

    Interestingly, the measures also include a ‘feebate’ mechanism that will subsidise green maritime fuels, which supports our Government’s Low Carbon Liquid Fuels policy.

    As our Government was in caretaker mode in April, Australia abstained from voting on these measures at the time. 

    They will be further considered by IMO in October, and if agreed will establish the world’s first ever truly international carbon market. 

    The Government is carefully considering what role it will play in October, and I understand that my department is hosting a roundtable with industry later this week to continue the conversation on how the measures might impact industry.

    The Secretary-General of the IMO is also visiting Australia in August and I hope to catch up with him to discuss Australia’s maritime interests.

    The year 2030, the deadline for the first of the IMO’s targets, is not that far away.

    Our government recognised this in our first term, and we laid plans to ensure that Australia’s maritime industry is prepared for the future, ready to contribute to our national emissions targets, and able to thrive in a decarbonised global economy.

    Now in our second term, we have a strong mandate to continue the work we’ve started.

    There are challenges to meet on the road to decarbonisation, but also incredible opportunities in new jobs and new industries. 

    Our Government’s ambition for a Future Made in Australia will form a comprehensive, coordinated and practical strategy to seize all the benefits on offer.

    As part of the Future Made in Australia plan, the Government is fast-tracking support for our nation’s growing domestic Low Carbon Liquid Fuels, or LCLFs. 

    In March, we announced the delivery of $250 million to accelerate the pace of Australia’s growing domestic LCLF industry. 

    This funding is part of the $1.7 billion Future Made in Australia Innovation Fund, and is being provided as grants to support pre-commercial innovation, demonstration and deployment.

    Australia has all the ingredients to support a thriving biofuels sector – especially if the IMO measure for a global subsidy is adopted and provided.

    We have an abundance of renewable energy resources and significant refining and port infrastructure.

    We have the potential to grow LCLF production for domestic consumption and for export.

    And our Government is committed to supporting a sovereign biofuel industry that Australia controls, and which serves our interests.

    Our Government is committed to maritime decarbonisation, as part of our drive to reach our legislated target of Net Zero greenhouse gas emissions by 2050.

    Our Government will soon release its Net Zero Plan for the economy, along with six sector-decarbonisation plans.

    Amongst these sector plans is one for the Transport and Infrastructure Net Zero Roadmap.

    And within that plan is one that speaks specifically to the unique challenges and opportunities of the maritime industry – the Maritime Emissions Reduction National Action Plan, or MERNAP for short.

    The MERNAP will outline how we aim to support Australia’s national emissions reduction targets, contribute to the global decarbonisation of shipping, and future-proof the Australian maritime sector to avoid costly and disruptive transitions later.

    It will ensure an equitable transition, particularly for the maritime workforce, and it will safeguard jobs and skills for the future.

    Our vision is that by 2050, Australia will fully leverage the global maritime decarbonisation transition, for the benefit of our ports, vessels, and the broader energy sector.

    Work on the MERNAP began in 2023-24, with an industry consultation process, and the MERNAP Consultative Group has played a vital role in shaping this action plan.

    They engaged with us on topics such as:

    • regulatory challenges and gaps
    • energy sources and technologies
    • skills and training
    • and international partnerships.

    I’d like to thank those stakeholders who were part of the group, and especially Angela Gilham and MIAL for the key role they’ve played in this process. 

    I am now considering the MERNAP, and the timing of its release. 

    Our next step will be to develop an implementation plan to progress the MERNAP’s proposed action items. 

    Our Government will continue to progress reform in the maritime sector. We must. 

    There are so many cross currents reshaping global maritime trade right now, and addressing these requires comprehensive and future-focused action.

    No doubt these issues ― and the opportunities ― facing the sector will be discussed at length in coming days, and I wish you well in these.

    Thank you once again for the invitation to speak this morning. 

    I look forward to working with all industry stakeholders in our government’s second term. 

    MIL OSI News –

  • MIL-OSI Australia: Councils to receive $1.7 billion in funding early

    Source: Commonwealth Director of Public Prosecutions

    The Albanese Government is bringing forward over $1.7 billion in untied financial assistance to ensure councils nationwide have funds ready to deliver essential local services which benefit every community.

    This represents 50 per cent of the Financial Assistant Grant allocations for 2025-26, and will be paid before 30 June to flow onto councils as soon as possible – ensuring shovel-ready projects and essential services continue seamlessly. 

    This early payment of untied funding is welcome news for all councils, and particularly critical for those facing cash flow pressures or recovering from recent extreme weather, ensuring they can continue to deliver for their communities.

    Over the last 40 years the Australian Government has invested over $70 billion in local government through the Financial Assistance Grant Program alone – a partnership as longstanding as it is substantial. 

    Importantly, providing this funding in an untied manner allows local governments to be flexible and allocate it to the community’s priorities as they see fit. 

    Local governments nationwide are further supported through other programs such as the Local Roads and Community Infrastructure Program, the Roads to Recovery Program and the Growing Regions Program.

    Quotes attributable to Infrastructure, Transport, Regional Development and Local Government Minister Catherine King:

    “The Australian Government strives to be a reliable and responsive partner to local governments all around our country. 

    “That’s why we’re bringing forward this funding to support each and every council.

    “By providing this financial assistance early, we’re providing certainty to councils that they can deliver on the priorities that matter most to their communities.”

    Quotes attributable to Regional Development, Local Government and Territories Minister Kristy McBain:

    “The Albanese Government remains committed to supporting local governments to ensure communities are receiving essential services, in particular when they are recovering from extreme weather.

    “Local governments are the beating heart of Australia. In all seasons and weather, they make sure local services continue so Australians can enjoy a better quality of life. 

    “This funding will ensure they can get on with the jobs they do best, without any unnecessary delays.”

    MIL OSI News –

  • MIL-OSI: MEXC DEX+ Launches Triple Bonanza: Exclusive Triple Perks for Newcomers

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, June 27, 2025 (GLOBE NEWSWIRE) — MEXC DEX+, the leading decentralized trading platform, officially launched its “ Triple Bonanza” campaign on June 26. This campaign offers three exclusive rewards tailored for new users, aiming to further lower the barrier to crypto asset trading and encourage users to experience a new era of efficient, secure, and decentralized on-chain trading.

    As the industry’s first platform to deeply integrate the advantages of both decentralized exchanges (DEX) and centralized exchanges (CEX), MEXC DEX+ breaks traditional trading boundaries and delivers a seamless on-chain trading experience. The platform now supports six major trading pools and four popular blockchains, offering a diverse range of crypto assets. Users can enjoy CEX-level smoothness while trading on-chain. Additionally, MEXC DEX+ has introduced an innovative “Trade-to-List” mechanism, allowing standout tokens to be fast-tracked to the main board through the “Rising Stars” campaign based on trading volume. The system also enables full interoperability between DEX+ and CEX accounts and rewards, creating a closed-loop ecosystem from trading to value realization.

    The “Triple Bonanza” campaign is designed with low entry requirements and high returns to spark new user participation. Campaign details are as follows:

    • Eligibility: New users who complete a total deposit of ≥100 USDT (via platform deposit or direct transfer from external wallets to DEX+) and make their first trade within 7 days of initial deposit.
    • Three Exclusive Rewards:
      • Grand Debut: Complete a first trade of ≥100 USDT to receive a 20 USDT reward in SOL.
      • Rising Stars: Trade tokens listed in the MEXC DEX+ rankings for a chance to share in an exclusive 2,000 USDT reward pool for new users.
      • Airdrop Bonus: Claim a free airdrop with a 10x leveraged ETH futures bonus worth 5 USDT.
    • Campaign Period: June 25, 2025 – July 10, 2025
    • All rewards can be claimed cumulatively. New users can enjoy multiple incentives from their first trade and seamlessly integrate into the on-chain trading ecosystem.

    Looking ahead, MEXC DEX+ will continue to prioritize user needs, expand the boundaries of on-chain applications, and work hand-in-hand with users to explore more possibilities in decentralized finance.

    For full event details and participation rules, please visit here.

    About MEXC

    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 40 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d9c9365b-7594-4e73-8156-33f10d83fd26

    The MIL Network –

  • MIL-OSI: MEXC DEX+ Launches Triple Bonanza: Exclusive Triple Perks for Newcomers

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, June 27, 2025 (GLOBE NEWSWIRE) — MEXC DEX+, the leading decentralized trading platform, officially launched its “ Triple Bonanza” campaign on June 26. This campaign offers three exclusive rewards tailored for new users, aiming to further lower the barrier to crypto asset trading and encourage users to experience a new era of efficient, secure, and decentralized on-chain trading.

    As the industry’s first platform to deeply integrate the advantages of both decentralized exchanges (DEX) and centralized exchanges (CEX), MEXC DEX+ breaks traditional trading boundaries and delivers a seamless on-chain trading experience. The platform now supports six major trading pools and four popular blockchains, offering a diverse range of crypto assets. Users can enjoy CEX-level smoothness while trading on-chain. Additionally, MEXC DEX+ has introduced an innovative “Trade-to-List” mechanism, allowing standout tokens to be fast-tracked to the main board through the “Rising Stars” campaign based on trading volume. The system also enables full interoperability between DEX+ and CEX accounts and rewards, creating a closed-loop ecosystem from trading to value realization.

    The “Triple Bonanza” campaign is designed with low entry requirements and high returns to spark new user participation. Campaign details are as follows:

    • Eligibility: New users who complete a total deposit of ≥100 USDT (via platform deposit or direct transfer from external wallets to DEX+) and make their first trade within 7 days of initial deposit.
    • Three Exclusive Rewards:
      • Grand Debut: Complete a first trade of ≥100 USDT to receive a 20 USDT reward in SOL.
      • Rising Stars: Trade tokens listed in the MEXC DEX+ rankings for a chance to share in an exclusive 2,000 USDT reward pool for new users.
      • Airdrop Bonus: Claim a free airdrop with a 10x leveraged ETH futures bonus worth 5 USDT.
    • Campaign Period: June 25, 2025 – July 10, 2025
    • All rewards can be claimed cumulatively. New users can enjoy multiple incentives from their first trade and seamlessly integrate into the on-chain trading ecosystem.

    Looking ahead, MEXC DEX+ will continue to prioritize user needs, expand the boundaries of on-chain applications, and work hand-in-hand with users to explore more possibilities in decentralized finance.

    For full event details and participation rules, please visit here.

    About MEXC

    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 40 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d9c9365b-7594-4e73-8156-33f10d83fd26

    The MIL Network –

  • MIL-OSI United Kingdom: Guidance for trade mark applicants following judgment in SkyKick v Sky

    Source: United Kingdom – Government Statements

    News story

    Guidance for trade mark applicants following judgment in SkyKick v Sky

    New guidance for trade mark applicants following Supreme Court judgment in the case of SkyKick UK Ltd and another v Sky Ltd and others.

    The Intellectual Property Office (IPO) has issued important new guidance for trade mark applicants following a Supreme Court judgment in the case of SkyKick UK Ltd and another v Sky Ltd and others.

    The updated Practice Amendment Notice (PAN 1/25) clarifies what is expected when filing specifications, and outlines changes to examination practices.

    These changes will take effect immediately.

    Important changes trade mark applicants and their representatives need to know

    The Supreme Court judgment addresses bad faith in trade mark applications, particularly concerning overly broad specifications where applicants have no intention to use the mark across all the claimed goods or services.
    Examiners will now actively consider whether specifications are “manifestly and self-evidently broad”, and may raise bad faith objections during the examination process.

    What you need to do

    Trade mark applicants should:

    • ensure specifications represent fair and reasonable claims for their business
    • be cautious when filing for large numbers of goods and services across multiple classes
    • consider whether broad terms like “computer software” or “clothing” truly reflect intended use, or whether sub-categories are more appropriate
    • be ready to explain their commercial reasons if challenged on the scope of an application

    What to expect during examination

    If examiners raise a bad faith objection, applicants will have two months to respond by either:

    • providing an explanation of their commercial reasons for the broad specification
    • restricting the goods/services to reflect their business more appropriately

    Certain applications will automatically trigger objections, including claims covering all 45 classes or all goods in Class 9. (Class 9 covers a significant range of goods related to technology, science, information processing and software).

    However, there will be other scenarios where examiners may raise objections, which will be dealt with on a case-by-case basis. Our aim is to strike a pragmatic balance, and the focus will be on manifestly and self-evidently broad specifications.

    The IPO’s Deputy CEO and Director of Services Andy Bartlett said:

    Following the Supreme Court’s judgment in the ‘Skykick’ case, we are issuing guidance to provide greater clarity and certainty for trade mark applicants and their representatives.

    The ruling represents a significant development in trade mark law, and this Practice Amendment Notice explains what is expected from applicants, and how our examination practices will change as a result.

    Understanding these changes will help our customers prepare appropriate specifications and avoid potential challenges and unnecessary delays in the application process.

    Customers requiring further information about the new guidance can get in touch with us at practicenoticequeries@ipo.gov.uk.

    When applying to register a trade mark, customers may wish to seek professional advice from a Chartered Trade Mark Attorney.

    For more information, read the full Practice Amendment Notice (PAN 1/25).

    Updates to this page

    Published 27 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI China: Chinese premier meets Senegal’s counterpart

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

    BEIJING, June 27 — Chinese Premier Li Qiang met with Prime Minister of Senegal Ousmane Sonko in Beijing on Friday.

    Li said over the years, China and Senegal have respected each other, treated each other as equals, and carried out mutually beneficial cooperation in a sincere and friendly manner, achieving fruitful results.

    China is willing to enhance solidarity and cooperation with Senegal, continue two-way support, expand practical cooperation, and firmly walk hand in hand on the road to modernization, he said.

    Li noted that China stands ready to strengthen the docking of development strategies with Senegal, promote the quality and efficiency of cooperation in various fields, and continuously enhance the internal impetus for development.

    He called on both sides to make good use of trade and investment facilitation measures, expand the scale of bilateral trade, and explore cooperation potential in areas such as agricultural product processing, industrial parks, new energy, digital economy and information security.

    China encourages Chinese enterprises to invest and start businesses in Senegal, welcomes Senegalese enterprises making good use of platforms such as the China International Import Expo to enhance the promotion of their products in the Chinese market, Li said.

    Noting that 2026 is the China-Africa Year of People-to-People Exchanges, Li said China is willing to work with Senegal to successfully hold a series of activities, deepen exchanges in culture, media, and think tanks and better promote mutual understanding and friendship between the two peoples.

    Sonko said Senegal admires the tremendous achievements made in China’s economic and social development and sincerely appreciates China for the vigorous assistance it has provided to Senegal over a long period of time.

    Senegal is willing to maintain close high-level exchanges with China, promote cooperation on economy and trade, energy and mineral resources, finance, and agriculture under the framework of the Belt and Road Initiative, and deepen people-to-people exchanges, Sonko said.

    Sonko said Senegal looks forward to working with China to strengthen multilateral communication and cooperation, safeguard multilateralism and international fairness and justice, and protect the common interests of the Global South.

    MIL OSI China News –

  • MIL-OSI China: Chinese premier meets Senegal’s counterpart

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

    BEIJING, June 27 — Chinese Premier Li Qiang met with Prime Minister of Senegal Ousmane Sonko in Beijing on Friday.

    Li said over the years, China and Senegal have respected each other, treated each other as equals, and carried out mutually beneficial cooperation in a sincere and friendly manner, achieving fruitful results.

    China is willing to enhance solidarity and cooperation with Senegal, continue two-way support, expand practical cooperation, and firmly walk hand in hand on the road to modernization, he said.

    Li noted that China stands ready to strengthen the docking of development strategies with Senegal, promote the quality and efficiency of cooperation in various fields, and continuously enhance the internal impetus for development.

    He called on both sides to make good use of trade and investment facilitation measures, expand the scale of bilateral trade, and explore cooperation potential in areas such as agricultural product processing, industrial parks, new energy, digital economy and information security.

    China encourages Chinese enterprises to invest and start businesses in Senegal, welcomes Senegalese enterprises making good use of platforms such as the China International Import Expo to enhance the promotion of their products in the Chinese market, Li said.

    Noting that 2026 is the China-Africa Year of People-to-People Exchanges, Li said China is willing to work with Senegal to successfully hold a series of activities, deepen exchanges in culture, media, and think tanks and better promote mutual understanding and friendship between the two peoples.

    Sonko said Senegal admires the tremendous achievements made in China’s economic and social development and sincerely appreciates China for the vigorous assistance it has provided to Senegal over a long period of time.

    Senegal is willing to maintain close high-level exchanges with China, promote cooperation on economy and trade, energy and mineral resources, finance, and agriculture under the framework of the Belt and Road Initiative, and deepen people-to-people exchanges, Sonko said.

    Sonko said Senegal looks forward to working with China to strengthen multilateral communication and cooperation, safeguard multilateralism and international fairness and justice, and protect the common interests of the Global South.

    MIL OSI China News –

  • MIL-OSI Video: WTO Trade and Environment Week 2025

    Source: World Trade Organization – WTO (video statements)

    Ambassador Erwin Bollinger, chair of the WTO Committee on Trade and Environment, invites participants from around the world to the 6th edition of Trade and Environment Week, taking place from 30 June-4 July at WTO headquarters and online. The event will feature various sessions organized by WTO members, focusing on a wide range of issues at the intersection of trade and the environment.

    https://www.youtube.com/watch?v=bpfMKewHCrI

    MIL OSI Video –

  • MIL-OSI Asia-Pac: Hong Kong Economic and Trade Office in Geneva celebrates 28th anniversary of establishment of HKSAR (with photos)

    Source: Hong Kong Government special administrative region – 4

    The Hong Kong Economic and Trade Office in Geneva hosted a reception on June 24 (Geneva time) to celebrate the 28th anniversary of the establishment of the Hong Kong Special Administrative Region (HKSAR) with over 230 guests from diplomatic missions to the World Trade Organization (WTO), and key contacts in various international organisations, the academia and local businesses.

    Speaking at the reception, the Permanent Representative of the HKSAR of China to the WTO, Miss Winky So, highlighted how the city, from a humble fishing village to a top-notch international trade and financial centre, has reinvented itself time and again to stay vibrant, while holding fast to the policy of free trade and the principles enshrined in the Marrakesh Agreement establishing the WTO.

    To the guests, she said, “we are privileged to stand alongside friends like you, who are not just like-minded champions of free trade, but also guardians of a system that has connected economies and brought stability and prosperity. Together, in good times and in bad times, we are a living testament to what free trade and a rules-based multilateral trading system can offer.”

    As a founding member of the WTO, Hong Kong has always been a staunch supporter of the rules-based multilateral trading system. Under the “one country, two systems” principle, Hong Kong participates in the WTO as a separate customs territory in the name of Hong Kong, China.        

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LegCo Secretariat releases Policy Pulse on “Building an international education hub”

    Source: Hong Kong Government special administrative region – 4

    The following is issued on behalf of the Legislative Council Secretariat: 

    The Legislative Council (LegCo) Secretariat today (June 27) released a Policy Pulse on “Building an international education hub”. This issue provides a brief overview of the competitiveness of Hong Kong’s education system, the unique advantages in developing Hong Kong into an international education hub, the related support measures by the Government, as well as relevant discussions of LegCo along with suggestions by Members.

    As a cosmopolitan city, Hong Kong’s education system is highly internationalized and diversified with great potential to become an international education hub. The Policy Pulse highlighted various international rankings of Hong Kong’s education system, including being the only city with five universities in the world’s top 100, ranking second globally in education competitiveness, and having the Hong Kong Diploma of Secondary Education recognised by over 600 overseas post-secondary institutions. The Policy Pulse also briefly outlined the future development of post-secondary education in Hong Kong; the advantages brought by “one country, two systems” and enjoying strong support from the Motherland and being closely connected to the world; and the benefits of establishing an international education hub.

    In the 2023 Policy Address, the Chief Executive announced the establishment of an “international hub for post‑secondary education and a cradle for future talents”. He further proposed building the “Study in Hong Kong” brand in his 2024 Policy Address. To promote Hong Kong as an international hub for post-secondary education and attract more talents to the city, the Government has introduced a series of measures. These include doubling the non-local student quota for University Grants Committee-funded universities; increasing the number of scholarship and hostel places; implementing schemes for non-local graduates to stay and seek employment in Hong Kong; strengthening research funding for institutions; promoting collaboration between Hong Kong and Mainland higher education institutions; and launching the Alliance of Universities in Applied Sciences to enhance the status of vocational and professional education and training.

    To support the long-term development of post-secondary education, the Government has kickstarted the construction of the University Town project in the Northern Metropolis, and plans to announce the University Town Development Conceptual Framework in the first half of 2026. Members suggest the Government communicate with post-secondary institutions on the planning of the University Town and consider providing tax and financial incentives to encourage institutions to build second campuses in the University Town, and cooperate with industry and scientific research institutions, to give play to the industry-university-research effect, so as to attract research talents.

    LegCo has been closely attentive to the development of education system in Hong Kong and formed a subcommittee to provide recommendations to the Government and the post-secondary education sector to speed up the development of an international post‑secondary education hub. In addition, LegCo has scrutinized and passed the Post Secondary Colleges (Amendment) Bill 2025, which aims to improve the monitoring and quality assurance mechanism for self-financing post-secondary institutions.

    The Policy Pulse also pointed out that Hong Kong faces challenges in becoming an international education hub, including a lack of diversity in the sources of non-local students. Members suggest that the Government should systematically formulate targeted promotion strategies, identifying target countries including ASEAN and “Belt and Road” countries, and taking the lead in promoting “Study in Hong Kong” to these countries with the Economic and Trade Offices overseas, and continuously reviewing the policy positioning and development strategies.

    The detailed content of “Building an international education hub” is available on the LegCo Website. The Policy Pulse, published by the LegCo Secretariat, covers specific topics and offers a comprehensive overview of related policy developments and summarized discussions in LegCo.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Government announces appointments of Chairperson and members to Hong Kong Export Credit Insurance Corporation Advisory Board

    Source: Hong Kong Government special administrative region

    Government announces appointments of Chairperson and members to Hong Kong Export Credit Insurance Corporation Advisory Board 
    The tenure of the appointments is two years with effect from July 1, 2025.
     
    Commenting on the appointments, the Secretary for Commerce and Economic Development, Mr Algernon Yau, said, “I am pleased that Ms Agnes Chan has been appointed as the Chairperson of the HKECIC Advisory Board. I am confident that, with her distinguished role in the business sector and abundant public service experience, Ms Agnes Chan will be able to lead the Advisory Board in tendering pragmatic and constructive advice to the HKECIC, enabling the HKECIC to continue providing professional export credit insurance services to Hong Kong exporters. I would also like to welcome Mr Henry Ko as a new member, and Ms Natalie Chan and Mr Michael Li being reappointed to continue contributing to the work of the Advisory Board.”
     
         “I extend my heartfelt gratitude to Dr Dennis Ng for his contributions during his tenure. Under his leadership, the HKECIC has launched various measures to support the export trade in Hong Kong and assist Hong Kong exporters, especially small and medium enterprises, in countering the challenges brought by the uncertainties in the global economy and expanding into emerging markets. I would also like to express my appreciation to the outgoing member Mr Samuel Lau Kin-pui for his staunch support of the work of the Advisory Board,” Mr Yau added.
     
         Ms Agnes Chan is currently the Senior Advisor of the Chairman’s Office, Greater China, Ernst & Young. She is the incumbent Chairman of the Hong Kong General Chamber of Commerce, an incumbent member of the Public Service Commission and an ex-officio member of the Hong Kong Trade and Development Council.
     
         The HKECIC was established in 1966 to provide insurance protection for Hong Kong exporters against non-payment risks arising from commercial and political incidents. The Hong Kong Special Administrative Region Government guarantees its liabilities.
     
         The composition of the HKECIC Advisory Board with effect from July 1, 2025, is as follows:
     
    Chairperson
    ———–
    Ms Agnes Chan Sui-kuen
     
    Members
    ———–
    Mr Kelvin Au Wai-kuen
    Ms Natalie Chan Wo-mi
    Ms Helen Hui
    Mr Henry Ko Hok-han
    Mr Timothy Lee Kwok-lam
    Mr Michael Li Chi-fung
    Mr Bernie Ting Wai-cheung
    Ms Winnie Wong Chi-shun
    Principal Assistant Secretary for Commerce and Economic Development
    Executive Director, Hong Kong Trade Development Council or his representative (ex-officio)
    Issued at HKT 11:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Portland Cement and its Clinker from Vietnam Threatens Taiwan Industry, says Taiwan Trade Remedy Commission

    Source: Republic of China Taiwan

    The Trade Remedy Commission of the Ministry of Economic Affairs (MOEA) today determined that a Taiwan industry is threatened with material injury by reason of imports of Portland cement and its clinker from Vietnam that the Ministry of Finance has determined are sold in Taiwan (ROC) at less than normal value.

    Under the jurisdiction set forth in the Regulations Governing the Implementation of the Imposition of Countervailing and Anti-dumping Duties, the MOEA shall notify the Ministry of Finance of its final determination. As a result of the affirmative final injury determination, the Ministry of Finance shall determine whether to impose an anti-dumping duty within 10 days from the next day of receipt of the foregoing notice from the MOEA.

    A public version of the final injury investigation report in Chinese will be available after July 27, 2025 on the International Trade Administration’s website (https://www.trade.gov.tw/).

    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: 2024-03-27 at 16h49 The four crises and seven structural shifts of the last eight years Prime Minister António Costa took stock of the last years in government

    Source: Government of Portugal (PM)

    António Costa took stock of the government’s action in the last eight years, where he was Prime Minister, during a press conference held in the official residence.<.>

    António Costa also referred to the financial system’s greater stability. “The state-owned bank, which many felt should be privatised and that it would be impossible to capitalise, is today not only solvent, but also generated due revenue for the Portuguese economy and citizens”, the Prime Minister claimed. 

    The wildland fires crisis 

    The second crisis noted by the Prime Minister was that of wildland fires, the answer to which included restructuring the civil protection system and a budget reform, which offered prevention a clear priority over fighting. As a result, “if we were to add up the entire area burnt down in the six years between 2018 and 2023 [the result] is 60.7% of the area burnt down in 2017 alone”, he stressed.

    The Covid-19 pandemic 

    The country’s response to this third crisis was “worthy of note”, claimed the Prime Minister. “We were the first country in the world to reach a vaccination coverage of 85%. And the efforts to support the economy and households allowed us to be one of the countries that best came out of the pandemic”, he added. 

    The inflationist crisis

    The fourth crisis arose from the effects of the pandemic, which was still felt, and the war between Russia and Ukraine. This conflict “worsened a situation that came from the pandemic, with the breakdown in supply chains, which led us to the greatest inflationist crisis of the last 30 years”. 

    The rises in interest rates by the European Central Bank to respond to rising inflation “in a society such as hours where mortgages have a high significance and the variable rates are clearly dominant”, together with rising food costs, shot up household costs. 

    “From the start of 2022 to October 2022, inflation soared. We hit 10.1% inflation in October 2022 and since then we have been on a slow, yet sure, trajectory to lower inflation, until we hit 2.1% last February and the forecast is we will remain on that lowering trajectory”, said the Prime Minister.

    SEVEN STRUCTURAL SHITS

    Higher growth

    The Prime Minister stated that between 2000 and 2015 the country alternated between recession and stagnation. “Only in one year of these 15 did we grow above the European average: in 2009. From 2016 onwards, the reality has been quite different “, he said. “In these eight years, the country grew ten times more than what it had grown in the previous 15”, he signalled, noting the 2.1% growth, including in the two pandemic years, “where product naturally fell drastically”. 

    More jobs and more income

    The creation of jobs and improvement in employment conditions contributed to this economic growth. “Today, we have a record number of people working in Portugal: 5 million people. That is an additional 629 thousand jobs than in 2015. And in a context where it was possible to not just to have minimum wages grow 62%, but also average wages having grown 27.7%”, the Prime Minister indicated.

    In addition to the rise in the minimum wage, the Prime Minister also noted rising pensions and improvement in net income. 

    Always in line with the Social Security Basis Law, in these eight years, average pensions rose 23.3%, “with all the rises set down in the law, as well as extraordinary rises to counter inflation”. 

    The improvement in net income came from the “successive drops in income tax IRS” and the “successive measures of non-monetary transfers that cut household expenses”, such as making school books free, reforming the costs of public transports, increasing the number of households that benefit from energy social rates and the “significant” cut in pubic university fees, that went from more than one thousand euros to 697 euros per annum.

    A more qualified country

    This was the shift the Prime Minister considered “perhaps brings the greatest consequences for the future”. António Costa mentioned the “highly significant” drop in early dropouts, where this year we are below the EU average for 2030, and the rise in the number of youths aged 30 to 34 years who completed higher educaiton in 2015, which can only rise, since “if we look at the youths who are 20 years old, 39% attended university in 2015, and today it’s 54%”. 

    A more competitive economy

    “Every year, we beat records in attracting foreign direct investment. Every year, we beat corporate investment records and corporate investment went up 85% between 2015 and 2023”, the Prime Minister stated, advocating that “what offers a modern economy competitiveness is its capacity to have qualified jobs, being more innovative, and this is what enables that innovation”. 

    António Costa also added that the rise in exports, which in 2022 accounted for more than 50% of GDP, and the change in the nature of exports. “Exports of high and medium tech goods increased 71% over these last eight years, which means that complexifying, qualifying, and the added value of our economy have been clearly on the rise”.

    Less inequality

    “Today we have 600 thousand people less in poverty or social exclusion, and especially 226 thousand children less living in poverty or social exclusion”, said the Prime Minister.

    Taking the lead in fighting climate change

    The sixth shift had to do with the country’s position in taking the lead in fighting climate change. “We were the first country in the world, at the2016 Marrakesh COP to undertake the goal of being carbon neutral by 2050. Our Climate Law imposed on us a greater ambition of hitting that target in 2045 rather than 2050”. 

    Since 2017, Portugal has cut back its GHG emissions by 17% “due to the public transport policy and bringing targets such as closing down coal-fuelled power stations forward and increasing the capacity to generate energy using renewables”, the Prime Minister signalled.

    Advances in the State reform 

    The last structural shift mentioned by the Prime Minister had to do with the advances in the State reform, namely concerning the decentralisation of powers, such as transferring the PSP’s traffic tasks to the Lisbon and Porto municipal police, making Carri or STCP (public transport) municipal, or the agreement with the National Portuguese Municipalities Association (ANMP) to transfer powers. Lastly, António Costa referred to the reform of the Regional Development Coordination Committees (CCDR), that are now more democratised and with greater autonomy. 

    View the Prime Minister’s presentation here 

    MIL OSI Europe News –

  • MIL-OSI Europe: 2024-03-27 at 16h49 The four crises and seven structural shifts of the last eight years Prime Minister António Costa took stock of the last years in government

    Source: Government of Portugal (PM)

    António Costa took stock of the government’s action in the last eight years, where he was Prime Minister, during a press conference held in the official residence.<.>

    António Costa also referred to the financial system’s greater stability. “The state-owned bank, which many felt should be privatised and that it would be impossible to capitalise, is today not only solvent, but also generated due revenue for the Portuguese economy and citizens”, the Prime Minister claimed. 

    The wildland fires crisis 

    The second crisis noted by the Prime Minister was that of wildland fires, the answer to which included restructuring the civil protection system and a budget reform, which offered prevention a clear priority over fighting. As a result, “if we were to add up the entire area burnt down in the six years between 2018 and 2023 [the result] is 60.7% of the area burnt down in 2017 alone”, he stressed.

    The Covid-19 pandemic 

    The country’s response to this third crisis was “worthy of note”, claimed the Prime Minister. “We were the first country in the world to reach a vaccination coverage of 85%. And the efforts to support the economy and households allowed us to be one of the countries that best came out of the pandemic”, he added. 

    The inflationist crisis

    The fourth crisis arose from the effects of the pandemic, which was still felt, and the war between Russia and Ukraine. This conflict “worsened a situation that came from the pandemic, with the breakdown in supply chains, which led us to the greatest inflationist crisis of the last 30 years”. 

    The rises in interest rates by the European Central Bank to respond to rising inflation “in a society such as hours where mortgages have a high significance and the variable rates are clearly dominant”, together with rising food costs, shot up household costs. 

    “From the start of 2022 to October 2022, inflation soared. We hit 10.1% inflation in October 2022 and since then we have been on a slow, yet sure, trajectory to lower inflation, until we hit 2.1% last February and the forecast is we will remain on that lowering trajectory”, said the Prime Minister.

    SEVEN STRUCTURAL SHITS

    Higher growth

    The Prime Minister stated that between 2000 and 2015 the country alternated between recession and stagnation. “Only in one year of these 15 did we grow above the European average: in 2009. From 2016 onwards, the reality has been quite different “, he said. “In these eight years, the country grew ten times more than what it had grown in the previous 15”, he signalled, noting the 2.1% growth, including in the two pandemic years, “where product naturally fell drastically”. 

    More jobs and more income

    The creation of jobs and improvement in employment conditions contributed to this economic growth. “Today, we have a record number of people working in Portugal: 5 million people. That is an additional 629 thousand jobs than in 2015. And in a context where it was possible to not just to have minimum wages grow 62%, but also average wages having grown 27.7%”, the Prime Minister indicated.

    In addition to the rise in the minimum wage, the Prime Minister also noted rising pensions and improvement in net income. 

    Always in line with the Social Security Basis Law, in these eight years, average pensions rose 23.3%, “with all the rises set down in the law, as well as extraordinary rises to counter inflation”. 

    The improvement in net income came from the “successive drops in income tax IRS” and the “successive measures of non-monetary transfers that cut household expenses”, such as making school books free, reforming the costs of public transports, increasing the number of households that benefit from energy social rates and the “significant” cut in pubic university fees, that went from more than one thousand euros to 697 euros per annum.

    A more qualified country

    This was the shift the Prime Minister considered “perhaps brings the greatest consequences for the future”. António Costa mentioned the “highly significant” drop in early dropouts, where this year we are below the EU average for 2030, and the rise in the number of youths aged 30 to 34 years who completed higher educaiton in 2015, which can only rise, since “if we look at the youths who are 20 years old, 39% attended university in 2015, and today it’s 54%”. 

    A more competitive economy

    “Every year, we beat records in attracting foreign direct investment. Every year, we beat corporate investment records and corporate investment went up 85% between 2015 and 2023”, the Prime Minister stated, advocating that “what offers a modern economy competitiveness is its capacity to have qualified jobs, being more innovative, and this is what enables that innovation”. 

    António Costa also added that the rise in exports, which in 2022 accounted for more than 50% of GDP, and the change in the nature of exports. “Exports of high and medium tech goods increased 71% over these last eight years, which means that complexifying, qualifying, and the added value of our economy have been clearly on the rise”.

    Less inequality

    “Today we have 600 thousand people less in poverty or social exclusion, and especially 226 thousand children less living in poverty or social exclusion”, said the Prime Minister.

    Taking the lead in fighting climate change

    The sixth shift had to do with the country’s position in taking the lead in fighting climate change. “We were the first country in the world, at the2016 Marrakesh COP to undertake the goal of being carbon neutral by 2050. Our Climate Law imposed on us a greater ambition of hitting that target in 2045 rather than 2050”. 

    Since 2017, Portugal has cut back its GHG emissions by 17% “due to the public transport policy and bringing targets such as closing down coal-fuelled power stations forward and increasing the capacity to generate energy using renewables”, the Prime Minister signalled.

    Advances in the State reform 

    The last structural shift mentioned by the Prime Minister had to do with the advances in the State reform, namely concerning the decentralisation of powers, such as transferring the PSP’s traffic tasks to the Lisbon and Porto municipal police, making Carri or STCP (public transport) municipal, or the agreement with the National Portuguese Municipalities Association (ANMP) to transfer powers. Lastly, António Costa referred to the reform of the Regional Development Coordination Committees (CCDR), that are now more democratised and with greater autonomy. 

    View the Prime Minister’s presentation here 

    MIL OSI Europe News –

  • MIL-OSI Europe: Plenary session of the European Economic and Social Committee

    Source: European Union 2

    589th Plenary session, with the following guests: Roberta Metsola, President of the EP (tbc); János Bóka, Minister of EU Affairs of Hungary;  Nicolas Schmit, EU Commissioner for Jobs and Social Rights, Maxime Cerutti, Director of Social Affairs at Business Europe, Tea Jarc, Confederal Secretary of the EU Trade Union Confederation (ETUC), Rareș Voicu, President of the EU Youth Forum and Nicoletta Merlo, EESC Member; with Teresa Ribera, Minister for the Ecological Transition and the Demographic Challenge of Spain (tbc), Svenja Schulze, Federal Minister for Economic Cooperation and Development of Germany (tbc); Saadia Zahidi, Managing Director, World Economic Forum

    Recording of debates

    MIL OSI Europe News –

  • MIL-OSI Africa: Africa’s development banks are being undermined: the continent will pay the price

    Source: The Conversation – Africa – By Danny Bradlow, Professor/Senior Research Fellow, Centre for Advancement of Scholarship, University of Pretoria

    Ghana and Zambia’s official creditors are pressing them to default on loans to two African multilateral financial institutions: the African Export-Import Bank (Afreximbank) and the Trade and Development Bank (TDB).

    These creditors, in effect, are demanding that the two countries prioritise repayments to themselves over payments to these two banks.

    As academics who have worked on the challenges of financing sustainable development in Africa, we believe this action is short-sighted.

    The action by Ghana and Zambia’s official creditors has two significant implications.

    First, they are demanding that the two countries treat Afreximbank and the Trade and Development Bank as commercial creditors. This would undermine the banks’ credit ratings and increase their borrowing costs. It would also reduce their capacity to finance sustainable development in Africa.

    Second, pressing Ghana and Zambia to default, rather than supporting pragmatic restructuring aligned with their strong growth prospects, exacerbates Ghana and Zambia’s financial vulnerability. Either they would have to use scarce resources to pay these debts or default on their obligations, in which case, the banks might well sue them.

    Quotes from Ghana and Zambia’s ministries of finance suggest the decision to default is their own. However, they faced intense pressure from their official creditors to treat the two African multilateral financial institutions differently from all their other multilateral creditors.

    Why does this differential treatment matter?

    Preferred creditor status

    Multilateral financial institutions, including the World Bank and African Development Bank, have a preferred creditor status. This is in recognition of the special role they play. They are expected to provide relatively low-cost funding for public investment, economic stability and long-term sustainable development in low- and middle-income countries.

    Their preferred creditor status ensures that, when countries experience debt distress, their development mandate is prioritised over the concerns of commercial creditors. Commercial creditors normally only fund commercially viable transactions. They charge high interest rates to compensate for the risk of default on these transactions.

    Both Afreximbank and Trade and Development Bank were created to fill a gap in Africa’s access to critical development finance. They provide financing for projects and transactions that commercial institutions and other multilateral financial institutions cannot – or will not – provide, because of capital limits, regulations or perceptions of risk.

    For example, Afreximbank’s charter notes that

    the decline in African exports has impacted adversely on the economies of African states and hindered their ability to achieve a self-reliant development.

    It further recognises that stimulating economic development

    can best be achieved through the creation of a trade financing international institution whose principal purpose is to provide and mobilise the requisite financial resources.

    Historically, it has enjoyed preferred creditor status to support its role in meeting this purpose.

    Why preferred creditor status is being challenged

    The two countries’ official creditor committees, the rating agency Fitch and other commentators are challenging the preferred creditor status of the two African institutions. They argue that the two banks are different from multilateral financial institutions like the World Bank and the African Development Bank that only have states as shareholders. They suggest that the private shareholders in the two African banks should not benefit from preferred creditor status. Instead, they should receive the same status as commercial creditors.

    Read more: Ghana and Zambia have snubbed Africa’s leading development bank: why they should change course

    This view ignores the reason that Afreximbank’s and the Trade and Development Bank’s member states authorised them to have private shareholders. It was a deliberate, pragmatic measure designed to fill a gap in Africa’s access to affordable development finance.

    The idea was to create new multilateral institutions that could raise capital flexibly and quickly on terms that the individual African states could not match on their own. Several other regional development banks have this hybrid model, including CAF, a highly rated development bank in Latin America.

    It is perverse that this creative and pragmatic approach to filling a gap in the global financial system is now being used against the two African banks.

    The consequences

    The cost of capital for the two African financial institutions will increase if they are treated like commercial creditors. This will reduce their capacity to lend and their financing will become more expensive. It will also deepen inequality in the global financial system. Lastly, it will increase the risk of future African sovereign debt defaults.

    In other words, downgrading their status risks undermining the very stability that official creditors claim to safeguard. It will also create another obstacle to Africa’s efforts to access stable, predictable and affordable flows of development finance.

    The eventual outcome of the official creditors’ action will ultimately depend on negotiations between Ghana and Zambia and their creditors. This will include the two African institutions. It will also be influenced by how these different groups of creditors behave in other African sovereign debt restructurings.

    However, the international community can seek to influence the outcome by taking actions in appropriate international settings.

    Global leaders are searching for ways to scale up and strengthen the capacity of regional and subregional development banks like Afreximbank and the Trade and Development Bank. This requires respecting their preferred creditor status and increasing their access to affordable capital.

    This is precisely the opposite of what is unfolding.

    There is still time for the creditor governments to change course by demonstrating their support for African multilateral financial institutions.

    – Africa’s development banks are being undermined: the continent will pay the price
    – https://theconversation.com/africas-development-banks-are-being-undermined-the-continent-will-pay-the-price-259404

    MIL OSI Africa –

  • MIL-OSI Africa: Russia advocates for multilateralism and stronger UN at G20 Sherpa meeting

    Source: South Africa News Agency

    Russia advocates for multilateralism and stronger UN at G20 Sherpa meeting

    Russia’s G20 Sherpa, Svetlana Lukash, has highlighted the importance of multilateralism for ensuring global stability and sustainability, calling for ongoing dialogue and the strengthening of the United Nations.

    “Multilateralism is the only thing that can keep the world together today and save us from collapse, save the economy from complete fragmentation, and ensure global growth and sustainability,” she said. 

    Despite the current challenges of economic fragmentation and geopolitical tensions, Lukash said she remained optimistic.

    “We must continue dialogue, no matter what divisions exist in our minds and policies.“

    Lukash was speaking on the sidelines of the G20 Sherpa meeting on Thursday, where the world’s largest economies and organisations are convening at Sun City Resort in the North West.

    Lukash is the Deputy Head of the Presidential Expert Directorate within the Presidential Executive Office of Russia. 

    “I think the G20 is very well placed to keep multilateralism as a flag for all humanity. But indeed, what we always keep in mind is that we have the United Nations, and that is the main platform that we need to cherish and need to strengthen.“

    She also cast the spotlight on South Africa’s groundbreaking G20 Presidency as a pivotal moment for inclusive international dialogue.

    Lukash believes that the strategic vision of multilateralism extends beyond traditional diplomatic frameworks.

    By inviting diverse stakeholders and opening dialogue with African neighbours and Global South representatives, Lukash said South Africa aims to create a more representative international platform.

    “I think just having the Presidency in Africa for the first time and putting the interests of Africa and of the Global South on the top of the G20 agenda already gives the strongest signal to the world community that the time has changed.” 

    She is of the view that the G20 should not be a closed forum where only 20 economies discuss issues that matter to the entire world.

    “What South Africa’s Presidency did is help open the G20 in the interests of the global majority. That is amazing. So, I really praise what the Presidency is doing this year.”

    The Sherpa said the G20 Leaders’ Summit in November represents a critical opportunity to demonstrate how multilateral approaches can address complex global economic challenges.

    Lukash also recognised the ongoing geoeconomic fragmentation and geopolitical tensions, which include sanctions and tariff wars. 

    However, she believes that the key multilateral priorities should focus on reforming global institutions such as the World Trade Organisation (WTO), addressing geopolitical tensions, and developing more inclusive mechanisms for economic cooperation.

    Despite geoeconomic fragmentation and tensions, Lukash said Russia sees the G20 as crucial for global economic cooperation, particularly in trade, energy, and finance.

    She told journalists that Russia’s key priorities for the G20 agenda align with South Africa’s goals, focusing on inclusive global growth, job creation, artificial intelligence governance, and critical minerals. 

    The Sherpa also praised the bilateral relations between South Africa and Russia, particularly in economic cooperation and investments, and expressed full support for South Africa’s G20 priorities.

    She said she was also grateful that South Africa’s Deputy President Paul Mashatile recently attended the St Petersburg International Economic Forum during his working visit to Russia. 

    “We, as Russia, tried to ensure that he spent that time very productively, ensured a lot of discussions with all the government of the Russian Federation, aimed at increasing our cooperation and strengthening bilateral relations by ensuring investments and common economic cooperation between all countries. 

    “[The Deputy President] very rightly points out the main issues that the investments need to be shifted to the countries of the Global South, and that’s what our President and the Deputy President discussed.”

    Lukash has assured the South African government that Russia will support them “completely” in all their priorities and goals.

    “We will do our best to make your G20 Leaders’ Summit a success.” – SAnews.gov.za

    Gabisile

    MIL OSI Africa –