NewzIntel.com

Category: Trade

  • MIL-OSI Canada: Joint Statement on the Visit to Ottawa of His Highness Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs of the United Arab Emirates

    Source: Government of Canada News

    Ottawa, June 23, 2025

    The Honourable Anita Anand, Minister of Foreign Affairs, hosted His Highness, Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs of the United Arab Emirates (UAE), for a visit to Canada from June 19 to 20, 2025. The visit reaffirmed the shared commitment of Canada and the UAE to deepen bilateral cooperation across trade, investment, innovation, people-to-people ties, international development, and regional peace and security.

    During the visit, His Highness Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs of the UAE, met with the Right Honourable Mark Carney, Prime Minister of Canada. The two sides discussed the growing ties between Canada and the UAE. On behalf of HH Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, HH Sheikh Abdullah bin Zayed Al Nahyan extended to Prime Minister Carney an invitation to visit the UAE this year.

    Canada and the UAE will continue to deepen their bilateral relationship by exploring new opportunities for cooperation, with particular emphasis on economic ties. Both countries welcomed the launch of the Dubai Chambers office in Toronto—the organization’s first in North America—which will serve as a strategic platform to foster deeper commercial ties. The Honourable Maninder Sidhu, Canada’s Minister of International Trade, attended the launch of the International Dubai Chambers alongside His Excellency Sultan bin Saeed Al Mansoori, the UAE Foreign Minister’s Envoy to Canada. The new office comes as part of the Dubai Global initiative and deepening economic ties with Canada. This opening reflects a shared ambition to unlock new opportunities for collaboration in priority sectors, including artificial intelligence, energy and infrastructure, and underscores Canada’s important role in the UAE’s global trade and investment strategy.

    Both countries also recognized the important role of the Canada-UAE Business Council in bringing together business leaders from both countries to develop actionable business opportunities and advance national economic objectives. Building on the strong foundation of institutional partnerships—exemplified by the global collaboration between Caisse de dépôt et placement du Québec and DP World across 15 ports and logistics parks—both countries expressed their intent to pursue new avenues for strategic investment and long-term economic engagement. Canada and the UAE reiterated their commitment to the swift conclusion of the ongoing negotiations for a Foreign Investment Promotion and Protection Agreement (FIPA).

    The Honourable Maninder Sidhu, Canada’s Minister of International Trade, and His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, co-led a business round table on June 19, 2025, organized by the Canada-UAE Business Council.

    Artificial Intelligence, Emerging Technologies, and Digital Innovation: Recognizing the transformative potential of artificial intelligence (AI), both countries reaffirmed their interest in exploring collaboration in this critical domain. Canada, home to one of the world’s most dynamic AI ecosystems, recently appointed its first Minister of Artificial Intelligence and Digital Innovation, reflecting a renewed national commitment to responsible AI leadership. The UAE, a global leader in AI and the first to appoint a Minister of State for AI, has articulated a dedicated foreign policy position on AI, emphasizing principles of international cooperation, sustainable development and responsible governance. In this regard, the UAE continues to invest in talent development, infrastructure and technology-access frameworks.

    The Ministers welcomed ongoing dialogue between institutions and stakeholders to explore cooperation in AI and emerging technology research, commercialization, and responsible deployment. Both sides emphasized the importance of inclusive, secure, responsible, and sustainable AI development that supports innovation and economic growth.

    Water: Both countries recognized that water lies at the core of climate action, affirming their shared commitment to addressing global water challenges. Both sides underscored the need to strengthen international cooperation, highlighting the upcoming 2026 UN Water Conference, to be co-hosted by the UAE and Senegal, as a key opportunity to advance global water efforts. They also stressed the importance of investing in water technology and innovation to scale up water-scarcity solutions, as exemplified by the UAE’s launch of the Mohamed bin Zayed Water Initiative in early 2024. 

    Energy and Natural Resources: Canada and the UAE reaffirmed their shared commitment to advancing energy security and accelerating a just transition to a low-carbon economy. The UAE’s growing investment footprint in Canada demonstrates the strong commercial foundation for future cooperation. Canada welcomed the UAE’s interest in formalizing energy collaboration. Canada recognized the UAE’s pioneering efforts in the energy sphere and welcomed the UAE’s interest in promoting greater energy collaboration on an international level. Canada also expressed support for continued dialogue on joint initiatives in decarbonization, liquified natural gas, nuclear, hydrogen, and critical mineral value chains. In this context, Canada and the UAE highlighted their dedication to build on their current ties in the fields of energy and critical energy-transition minerals, while including a focus on promoting investment opportunities and enhancing mutual investment attraction.

    International Peace and Security: Canada and the UAE reiterated their shared commitment to promoting peace, stability, and inclusive prosperity across the Middle East and beyond. Both countries emphasized the importance of sustained diplomatic engagement, humanitarian leadership, and multilateral cooperation in addressing geopolitical challenges. They unequivocally condemned all acts of terrorism. They reaffirmed the importance of maintaining and promoting peace and coexistence and their rejection of intolerance, hate speech, discrimination and all forms of extremism.

    Canada and the UAE also restated that the principles of dialogue, adherence to international law, and respect for state sovereignty are essential to resolving the conflict between Israel and Iran. Both sides stressed the need for an immediate and permanent ceasefire in Gaza; the release of all remaining hostages; and the urgent, sustainable, unhindered, at-scale flow of aid to address the appalling humanitarian catastrophe. Canada and the UAE also underscored the importance of sustained efforts to advance a serious political horizon toward the two-state solution. The Ministers reaffirmed the urgent need for de-escalation and urged all parties to refrain from actions that further destabilize the region. Both sides reasserted that diplomatic engagement remains essential to ensuring long-term regional stability and international security.

    Joint Committee for Cooperation: Both countries are actively using the Joint Committee for Cooperation (JC) as a strategic platform to drive forward a deeper, more institutionalized partnership. Through regular, high-level dialogue, the JC is advancing collaboration in priority areas such as trade and investment, defence and security, and climate and energy. Canada will host the next Ministerial meeting, reinforcing the shared commitment to sustained, results-driven engagement.

    International Development Cooperation: Canada and the UAE reaffirmed their mutual determination to address pressing global development and humanitarian challenges. Canada welcomed the UAE’s role as a global development and humanitarian partner. Recognizing the unprecedented scale and severity of humanitarian crises around the world, Canada and the UAE reaffirmed their shared commitment to cooperate closely in delivering assistance and empowering communities. Both countries underscored the importance of this partnership, and committed to leveraging their complementary strengths, particularly during a time of intensifying conflicts around the world.

    Canada commended the UAE’s global leadership in humanitarian and mediation efforts, including in Gaza, where the UAE has emerged as the largest bilateral aid donor, and in Ukraine, where the UAE has facilitated 15 prisoner-of-war exchanges, consistent with Canada’s ongoing efforts to address the human dimension of the war. These efforts underscore a shared commitment to upholding international humanitarian law and fostering dialogue in times of conflict. Both sides emphasized the importance of pursuing durable and just solutions grounded in international law and inclusive political processes. They expressed their mutual intent to continue working together on their shared goals of advancing stability and development, promoting tolerance and coexistence, protecting human dignity, and addressing hate speech, discrimination and all forms of extremism.

    People to People: Canada and the UAE celebrated their deepening people-to-people ties, which serve as a cornerstone of the growing bilateral partnership. Canada welcomed the increasing number of Emirati students in Canadian higher education institutions, reflecting mutual recognition of academic excellence. The UAE acknowledged the valuable contributions of the more than 60,000 Canadians living and working in the Emirates, who continue to enrich the diversity, innovation and vibrancy of UAE society.

    The two countries also stressed their shared commitment to cultural exchange and intercultural dialogue to foster mutual understanding and respect. Both sides recognize the landmark presentation of the “As the Sun Appears from Beyond” exhibition, which celebrates the richness and diversity of contemporary Islamic art, and recently showcased in Toronto through a partnership between the Aga Khan Museum and the UAE Ministry of Culture.

    Conclusion: The two sides reaffirmed their strong and growing relationship, rooted in mutual respect, shared objectives, and a common vision for sustainable prosperity and global stability. The visit marked a significant step forward in the Canada-UAE relationship. Both countries are committed to maintaining high-level engagement, concluding further mutually beneficial instruments, and building a durable, forward-looking partnership that delivers tangible benefits for their peoples and contributes to global peace and prosperity.

    MIL OSI Canada News –

  • MIL-OSI Africa: Minister of State for Foreign Affairs Receives Phone Call from Hungarian Foreign and Trade Minister

    Source: Government of Qatar

    Doha, June 24, 2025

    HE Minister of State for Foreign Affairs Sultan bin Saad Al Muraikhi received a phone call on Monday from HE Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto.

    During the call, they discussed cooperation relations between the two countries and ways to support and strengthen them, in addition to several topics of common concern.

    HE the Hungarian Minister of Foreign Affairs and Trade affirmed the solidarity of the Hungarian people with the State of Qatar following the Iranian attack on its territory, noting that Qatar represents an important strategic ally for his country. He also commended its role in the release of three Hungarians who had been detained in Gaza.

    MIL OSI Africa –

  • MIL-OSI New Zealand: Prime Minister strengthens NZ’s ties with Europe

    Source: New Zealand Government

    Prime Minister Christopher Luxon has held high-level talks with European Union leaders in Brussels, to underline the close ties between New Zealand and the EU.

    “The European Union is one of New Zealand’s most trusted partners,” Mr Luxon says.

    “This is something that was emphasised in my meetings with both EU Commission President Ursula von der Leyen and EU Council President António Costa.

    “President von der Leyen and I discussed our commitment to the international rules-based system – something that’s more important than ever given the pressure on global security and prosperity.

    “We also talked about opportunities to ramp up two-way trade under the EU-New Zealand Free Trade Agreement.

    “New Zealand’s goods exports to the high-value EU market have already grown by more than $1 billion, a 25 percent increase since last year. But we know there is still scope to significantly increase this further with our premium New Zealand products.”

    New Zealand and the EU are also collaborating on research, science and innovation through Horizon Europe, the world’s largest research funding programme.

    “Our researchers are working together on 17 projects across a range of sectors, from hydrogen storage to bioprinting. By joining forces, we are driving scientific progress and innovation that delivers economic benefit for both our regions,” Mr Luxon says.

    While in Belgium, Mr Luxon also visited New Zealand memorials and other significant sites across Flanders Fields, to pay respect to the thousands of Kiwi soldiers who served on the Western Front during World War I.  

    He now travels to the Netherlands where he will meet with Dutch Prime Minister Dick Schoof before attending the NATO Summit in The Hague.

    A joint readout of the meeting is attached.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Frequently asked questions (FAQs) – changes to vocational education

    Source: Tertiary Education Commission

    Can you please explain the different groups involved in the changes?

    ISBsIndustry Skills Boards

    Industry Skills Boards are new entities that will be established formally from 1 January 2026. 
    They have a core role of standard setting for vocational education across their allocated sectors. They will also work to share the voice of industry and advise TEC about workforce needs.
    Each ISB will be set up through an Order in Council and will be industry led. (Six out of eight board members will come from industry.) 

    ISB EAGsIndustry Skills Boards Establishment Advisory Groups

    These groups will exist from mid-2025 until the end of the year to support the establishment of the new ISBs. 
    Their focus is on governance and organisation establishment rather than industry advocacy. 

    ITPsInstitutes of technology and polytechnics

    ITPs are independent regional polytechnics that will be established in 2026. The location of the first of these will be decided by the government in mid-2025. Further decisions will be made during 2026.

    ITP EAGsInstitutes of Technology and Polytechnics Establishment Advisory Groups

    These groups will exist from mid-2025 until the end of the year to support the set-up of the ITPs that are being established at the beginning of 2026. 
    Their focus is on establishing the regional polytechnics as they are split out from the national entity of Te Pūkenga. 

    ITOsIndustry training organisations

    Before the Reform of Vocational Education in 2023, all work-based training was delivered by ITOs. In 2023, most work-based training done in ITOs moved into Te Pūkenga, becoming the work-based learning divisions. Many of the entities continued to use their ITO branding even though ITOs did not technically exist in the system from 2023. 
    These work-based learning divisions of Te Pūkenga will move into ISBs on 1 January 2026, for up to two years.

    PTEsPrivate training establishments

    PTEs are registered with and quality assured by NZQA. They are training providers who have met specific requirements. Training providers (that are not a university, polytechnic or wānanga) must hold PTE registration to be eligible for TEC funding. PTEs may be companies or not-for-profit organisations.

    VETVocational education and training

    Vocational education and training includes all provision at Levels 3 to 7 (non-degree) of the New Zealand Qualifications and Credentials Framework, as well as Level 2 when it is delivered in the workplace.
    It does not include degree-level provision or foundation education.
    VET can be delivered in the workplace (work-based) in a classroom/campus setting (provider-based) or by distance and online learning (extramural). 

    TECTertiary Education Commission

    TEC’s core role in the VET system is funding. We fund the provision at this level in line with funding mechanisms from government.

    NZQANew Zealand Qualifications Authority

    NZQA assures the quality and integrity of New Zealand qualifications. They register providers, quality assure programmes and, for some areas, act as a standard setter. They also oversee the Education (Pastoral Care of Tertiary and International Learners) Code of Practice.

    Work-based learning divisions
    When the work-based learning divisions move into ISBs on 1 January 2026, will they stop enrolling new learners?
    No. At this point we expect that all work-based learning divisions will still be enrolling new learners from 1 January.
    When we have reached the point where there are sufficient providers for a sector, we will:
     (a) not fund additional providers; and
     (b) require ISBs to cease enrolling new learners (if provision remains with them).
    ISBs will have the role of informing TEC about the network of work-based learning provision (number and types of providers) that industry needs. This will inform the funding of new providers, and the expectations on the work-based learning divisions.
    ISBs will begin this work in January 2026, and we expect it to take time for them to gather this information from industry.
    Why is work-based learning moving to the ISBs?
    We appreciate that learners, employers and educators may have some concerns about possible disruption to work-based training because of the upcoming changes. The transition period (2026–2027) has been put in place to minimise disruption for learners and employers as the functions currently under Te Pūkenga work-based learning lift-and-shift unchanged into the ISBs.
    Will the work-based learning divisions of the new ISBs be able to continue developing programmes? Or does all new development stop on 1 January 2026?
    The focus for work-based learning during the transition period (where the training units sit within the ISBs) will be on preparing for transfer, rather than growing. There will, however, be cases where new standards, credentials or qualifications will be required to meet industry needs. In these cases, new provision will be supported.
    What is happening with ITOs?
    ITOs ceased to exist in 2022, although many Te Pūkenga work-based learning business divisions continued to use their old ITO names. Te Pūkenga work-based learning divisions will move temporarily into ISBs. This work-based learning will move into providers (including polytechnics, wānanga and PTEs) by 31 December 2027.
    Industry Skills Boards
    How many ISBs are there and what do they cover?
    We are currently awaiting decisions on the number of ISBs and their broad coverage.
    Further consultation will happen later this year when the ISB EAGs consult around detailed coverage as part of the Order in Council (OIC) process to formally establish the ISBs.
    Why are you putting standard setting and delivery/arranging of training back together?
    The training functions that are moving into the ISBs will only be there temporarily. By January 2028, no training will be delivered by ISBs. During the transition period, the training unit will sit within the ISB but will not be fully integrated into it.
    How will you ensure ISBs manage the conflict of interest involved with being both the standard setter and a training deliverer?
    During the transition period, each training unit will sit within the relevant ISB but will not be fully integrated into it, as this arrangement is only temporary.
    If industries are grouped together in one ISB, will they stop having unique qualifications?
    No. ISBs will be able to create and maintain standards, credentials and qualifications that are specific to the sectors they cover – in the same way Workforce Development Councils (WDCs) do.
    I am worried that ISBs will only look after work-based learning.
    ISBs will create and maintain standards, credentials and qualifications for all the sectors they cover at the vocational level. This will include products that support provider-based (including polytechnic) delivery, and extramural programmes as well as work-based learning.
    How will industry continue to have a voice in the system when there is only provider-based learning for their sector?
    An ISB will take on vocational standard setting for its entire sector, not just for the work-based learning elements. This means it will be responsible for all standards, credentials and qualifications for that sector.
    The term “industry” is very broad. When you say industry will inform choices who do you mean?
    ISBs have a role in communicating industry voice, and their governance will be industry led. ISBs will work with established industry groups and associations as well as employers and other sector stakeholders. ISBs will be expected to put in place mechanisms that identify the needs of all industries they represent.
    What expectations does TEC have regarding collaboration between the ISB Establishment Advisory Groups?
    We have an expectation for all ISBs and ISB Establishment Advisory Groups that they work together cooperatively, especially where the qualifications they cover will impact multiple sectors.
    What will happen to WDCs? What will be done to ensure expertise in WDCs is retained in the new system?
    The standard-setting functions of WDCs will continue until the end of 2025, when they will be disestablished and ISBs will be stood up. In the upcoming months, WDCs will develop plans to transfer relevant functions to ISBs.
    ISBs have a more targeted role than WDCs. It is expected that WDC staff involved in these functions will transition into ISBs.
    PTEs that deliver work-based training
    What happens to work-based learners and apprentices who are studying through a PTE?
    There is currently a small network of PTEs that are funded by TEC to deliver work-based learning. These PTEs will be able to continue enrolling and delivering the provision they currently do.
    All TEC funded providers are given a funding allocation for the year and their enrolments must stay within that allocation. There is no guarantee of funding for providers that enrol above their allocation.
    Who is responsible for determining who is eligible to become a new PTE or work-based provider? What will the criteria be?
    NZQA determines whether an organisation has the appropriate capability to become a registered provider (PTE). TEC determines whether the provider’s offering is suitable for government funding. Funding decisions will be informed by industry preferences about a network of provision.
    How does a PTE start being TEC funded to deliver work-based learning?
    Currently we will only fund new work-based learning PTEs in cases where the provider can demonstrate significant industry support. Our requirements for this will be stringent. For details, see Application to receive TEC funding.
    ISBs will work with industry during 2026 and beyond to understand the network of work-based learning provision that each sector needs. This information will inform TEC funding. Until this information is received, TEC will not have a clear picture of what provision will be both sustainable and sufficient to meet industry needs.
    In most cases we encourage providers to read the guidance information about what we are looking for in work-based learning and start to prepare for future opportunities.
    These same criteria will be applied to existing work-based learning providers that may wish to expand their provision.
    What are the new funding parameters for work-based learning? This is a critical pathway for all providers as business owners.
    See the TEC website for work-based learning funding rates.
    Managed apprenticeships
    Do Managed Apprentices stay with their Polytech provider or move to an ISB in January 2026?
    Currently, no changes are expected for Managed Apprentices already enrolled with a Polytechnic.
    We are currently working through the detail of what Managed Apprenticeships will look like in the future. Like other work-based provision, we do not want to see expansion before ISBs have had the opportunity to consider the network of provision needed for their sectors.
    The stand up of regional ITPs
    How do we find out which polytechnics will be standalone and which will be part of a federation?
    These decisions are being worked through. We will update this information when details are available.
    Will regional ITPs be able to offer programmes nationally?
    Institutes of Technology and Polytechnics (ITPs) are being set up to deliver regionally, to maximise the strength of local knowledge. We expect that this will be the main focus of their provision, however, we will consider other arrangements if these have the support of industry.
    Secondary/tertiary provision
    What is happening with standard setting and delivery for secondary to tertiary transition programmes like Gateway and Trades Academies?
    We will be looking at how these programmes will be supported, and expect this information to be covered in the transition plans developed by WDCs and Te Pūkenga work-based learning divisions.

    MIL OSI New Zealand News –

  • MIL-OSI China: Chinese premier holds talks with Singaporean PM

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

    Chinese Premier Li Qiang holds talks with Singaporean Prime Minister Lawrence Wong, who is on an official visit to China, at the Great Hall of the People in Beijing, capital of China, June 23, 2025. [Photo/Xinhua]

    BEIJING, June 23 — Chinese Premier Li Qiang held talks with Singaporean Prime Minister Lawrence Wong, who is on an official visit to China, in Beijing on Monday.

    Noting that China and Singapore are friendly neighbors and important partners, Li said that under the strategic guidance of their leaders, the traditional friendship between China and Singapore has been continuously deepened since the establishment of diplomatic relations 35 years ago, with bilateral relations enhanced and practical cooperation achieving fruitful results.

    He said that China is willing to work with Singapore to uphold the traditions of mutual respect and trust, equality and mutual benefits, while maintaining close high-level exchange, enhancing strategic communication, and consolidating political mutual trust.

    Li said that China stands ready to make full use of its bilateral cooperation mechanism with Singapore, implement their cooperation plan for the joint construction of the Belt and Road Initiative, and expand and strengthen flagship cooperation projects. China is also ready to increase the scale of two-way trade and investment, actively expand cooperation in third-party markets, and foster new cooperative initiatives in areas such as the digital economy, the green economy, artificial intelligence, smart cities and ocean energy.

    He called on the two countries to strengthen exchange in education, culture, tourism and media, and to adhere to open regionalism and true multilateralism, actively promote the liberalization and facilitation of trade and investment, and maintain the stability and smooth operations of global industrial and supply chains.

    China is willing to work with ASEAN member states, including Singapore, to promote the timely signature and implementation of the upgraded Version 3.0 China-ASEAN Free Trade Area pact, implement the high-quality Regional Comprehensive Economic Partnership Agreement, and accelerate the process of regional economic integration, Li said.

    Wong said that Singapore looks forward to maintaining close high-level exchange and cooperation in various fields with China, deepening friendship and mutual trust, and promoting flagship cooperation projects such as the Suzhou Industrial Park. It is also willing to explore cooperation potential in emerging fields such as the digital economy, the green economy, artificial intelligence and biomedicine, and to expand third-party cooperation and enhance people-to-people and cultural exchange.

    Wong noted that Singapore is full of confidence in the Chinese economy, and is willing to enhance communication and collaboration with China on regional and multilateral platforms to safeguard free trade and the multilateral trading system.

    Chinese Premier Li Qiang holds talks with Singaporean Prime Minister Lawrence Wong, who is on an official visit to China, at the Great Hall of the People in Beijing, capital of China, June 23, 2025. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI USA: CFTC’s Division of Market Oversight Seeks Public Comment on Proposed No-Action Position to MIAX Futures Exchange, LLC

    Source: US Commodity Futures Trading Commission

    WASHINGTON, D.C. — The Division of Market Oversight (DMO) of the Commodity Futures Trading Commission is seeking public comment on a proposed no-action position to MIAX Futures Exchange, LLC (MIAX Futures), a designated contract market (DCM), pursuant to Commission Regulation 140.99. Comments must be submitted by 12 p.m. EDT on June 25, 2025.
    By letter dated June 23, 2025, MIAX Futures requested that DMO issue a letter stating that it will not recommend enforcement action to the Commission in connection with MIAX Futures’ temporary provision for the trading of Minneapolis Hard Red Spring Wheat (HRSW) options on futures (HRSW Options) exclusively through block trades. The requested relief is necessary due to the unavailability of an electronic trading system for the HRSW Options and is intended to allow market participants, including those who are not eligible contract participants (ECPs) as defined in section 1a(18) of the Commodity Exchange Act (CEA), to trade or offset open positions. 
    MIAX Futures has proposed amendments to its rulebook, effective from June 30 through August 29, 2025, to: (i) permit block trading of HRSW Options outside of a centralized market; (ii) lower the block trade threshold for HRSW Options from 15 contracts to one contract; and (iii) permit non-ECPs to participate in block trades of HRSW Options.  
    In order to implement these rulebook amendments, MIAX Futures seeks no-action relief from DCM Core Principle 9, Commission Regulation 1.38, and CEA section 5c(c) and related regulations under Part 40. Staff proposes granting time-limited relief, as described in the proposed letter, to reduce the risk of market disruption and to provide market participants additional time to manage or exit open positions in HRSW Options.
    Due to the novelty of MIAX Futures’ block-trade only proposal, DMO seeks public comment on the above issues. The abbreviated comment period is necessary to facilitate a timely decision in advance of the proposed June 30, 2025, trading date – when the current electronic trading system will cease to be available – if the requested relief is granted. 
    Comments may be submitted electronically through the CFTC’s online portal. All comments will be posted on CFTC.gov. MIAX Futures’ request for a no-action position is available here. DMO’s proposed no-action letter is available here.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: UK Government honours exceptional exporters with Made in the UK, Sold to the World Awards

    Source: United Kingdom – Government Statements

    Press release

    UK Government honours exceptional exporters with Made in the UK, Sold to the World Awards

    Twelve exceptional UK-based SMEs have been named today as winners of the Department for Business and Trade’s 2025 Made in the UK, Sold to the World Awards.

    • Twelve SMEs announced as winners of the 2025 Made in the UK, Sold to the World Awards 
    • Now in their third year, the awards celebrate outstanding small businesses achieving exporting success 
    • Winning entries highlight the UK’s strength in sustainability and AI innovation 

    From ethical metal recycling to AI-driven edtech and digital identity, twelve exceptional UK-based SMEs have been named today as winners of the Department for Business and Trade’s (DBT) 2025 Made in the UK, Sold to the World Awards. 

    Now in their third year, the awards celebrate the international growth of the UK’s most dynamic small businesses. While the awards naturally reflect the sectoral diversity of British innovation, this year’s winners signal a global appetite for UK leadership in two high-growth areas: sustainability and artificial intelligence. From Osbit’s offshore wind infrastructure to Twin Science’s gamified climate action kits and ubloquity’s AI-enhanced trade platform, British SMEs are exporting solutions to tackle some of the world’s most urgent challenges. 

    Gareth Thomas, Minister for Services, Small Businesses and Exports, said: 

    The innovation and entrepreneurship shown by the businesses entering the Made in the UK, Sold to the World Awards demonstrate the best of British business. 

    When small businesses export, the whole economy benefits. By celebrating the outstanding international trade achievements of UK SMEs, we hope to encourage more businesses to get on the exporting ladder and take the best of Britain to markets around the world.   

    This year’s winners were chosen from hundreds of entries across 12 sector-focused categories, including two new areas—Digital & Technology and Export Services—introduced to reflect evolving global opportunities. Each category includes one winner and up to three highly commended businesses. 

    In the Digital & Technology category, Porotech stood out for its AR and AI-powered wearables, with 90% of revenue from exports and partnerships with Amazon, Microsoft and Foxconn. Twin Science & Robotics, winner in Education & EdTech, exports to over 40 countries and has seen 70% annual revenue growth through its STEM kits focused on AI, robotics and climate literacy. 

    Sustainability also remains a major theme across the winners. Osbit, winner in Low Carbon Energy, delivers mission-critical offshore wind technology, with 65% of revenue from exports. Meanwhile, Avon Specialty Metals, recognised in Advanced Manufacturing & Construction, recycles high-performance metals and alloys and has grown international sales by 192% over three years. 

    Winners like Gerald McDonald & Company (Agriculture, Food & Drink) and LIMB-art (Healthcare) underscore the global demand for British-made, high-quality products. From innovative prosthetics to premium fruit derivatives, these SMEs prove that exporting drives resilience, expansion and innovation. 

    This year’s winners will receive a bespoke promotional package, including a one-year membership to the Chartered Institute of Export & International Trade, a working capital masterclass with Lloyds Bank, an invitation to the winners’ reception in London, professional photography of their business, bespoke promotion on DBT channels and a digital badge, certificate and trophy to commemorate their achievements. 

    By creating jobs, driving innovation and exporting world-class British products and services, these businesses are making a vital contribution to the Government’s mission to go further and faster for economic growth as part of its Plan for Change.  

    A key part of this mission is supporting SMEs to grow, scale and enter global markets—recognising that when more businesses trade internationally, the entire UK economy benefits. Exporting supports a fifth of UK employment1, paying on average 7% higher wages2 and delivering 21% higher productivity for goods exporters3. 

    To help achieve its mission, the Government recently revamped the Board of Trade to boost SME exports and will soon launch its Trade Strategy. This will set out its approach to maximising export opportunities, including those arising from recently signed agreements with India, the US and the EU. 

    For free help selling to the world, visit business.gov.uk 

    2025 Winners of the Made in the UK, Sold to the World Awards: 

    • Advanced Manufacturing & Construction – Avon Specialty Metals (Gloucester): Selling to 20+ countries with exporting accounting for 31% of revenue from sustainable alloy/metal recycling and AI-driven processing 

    • Agriculture, Food & Drink – Gerald McDonald and Company Ltd (Basildon, Essex): World’s largest supplier of premium Japanese yuzu juice, exporting to 4 continents 

    • Consultancy & Professional Services – Champions Speakers (Loughborough): Exporting to 66 countries, 122% growth in two years 

    • Creative Industries – Luminous Show Technology (Exeter): Special effects hardware used in Harry Potter and the Commonwealth Games, with 35% export revenue 

    • Digital & Technology – Porotech (Cambridge): 90% export revenue; cutting-edge AR and AI display tech 

    • Education & EdTech – Twin Science & Robotics Ltd (London): STEM tools used in 40+ countries, 93% export revenue 

    • Financial Services & FinTech – Ozone Financial Technology Ltd (London): Exports to 15 countries; 77% of revenue from international markets 

    • Healthcare – LIMB-art (Conwy, Wales): Stylish prosthetics sold in 10 countries; 30% of revenue from exports 

    • Infrastructure & Engineering – Maritime Developments Limited (Aberdeen): 92% export revenue from offshore energy tech 

    • Low Carbon Energy – Osbit (Riding Mill, Northumberland): Bespoke offshore wind equipment exported to 9 countries 

    • Retail & Consumer Goods – Jenolite UK Ltd (Biggleswade, Bedfordshire): Iconic rust removal brand exporting to 50+ countries, with £2.9M in export revenue 

    • Export Services – ubloquity (Scarva, Northern Ireland): AI, blockchain and digital identity solutions empowering businesses to scale globally  

    2025 Highly Commended Businesses: 

    • Advanced Manufacturing & Construction – Bespoke Stairlifts (Huddersfield), Delta-Xero Distribution Ltd (Fareham), John King Chains (Leeds) 

    • Agriculture, Food & Drink – Evenproducts Ltd (Evesham), PBS International (Crawley), Nourished (Birmingham) 

    • Consultancy & Professional Services – Jean Edwards Consulting (Brighton), Landell Mills (Wiltshire), The Config Team (Cumbria) 

    • Creative Industries – Jesmonite (Shropshire), Rainbow Productions (London), Wild Creations (Cardiff) 

    • Digital & Technology – Hitomi Broadcast (Maidenhead), iLivestock (Dunfermline), uqudo (Manchester) 

    • Education & EdTech – Alphablocks (London), Learning Resource Network (London), Lincoln College (Lincoln) 

    • Financial Services & FinTech – Bueno Europe (Birmingham), Hoptroff (London) 

    • Healthcare – Black Space Technology (Birmingham), Birmingham Biotech (Birmingham), Novocuris (London) 

    • Infrastructure & Engineering – Rosehill Polymers (West Yorkshire), Direct Access (Nantwich), Atmos International (Manchester) 

    • Low Carbon Energy – Munro Vehicles (Glasgow) 

    • Retail & Consumer Goods – RSscan Lab (Ipswich), Dr.PAWPAW (London), The British Hamper Company (Lincoln) 

    • Export Services – Intralink (Oxford), Abex Infoway Europe Ltd (London)

    Updates to this page

    Published 24 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Wyden Reintroduces Legislation to Protect TPS and DED Recipients

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)

    June 23, 2025

    The legislation has been reintroduced following Trump’s attack on immigrant communities, including 563,000 TPS recipients

    Washington, D.C. — U.S. Senator Ron Wyden, D-Ore., joined 30 senators today in reintroducing legislation to provide qualified Temporary Protected Status and Deferred Enforced Departure recipients a path to legal permanent residency. 

    “Donald Trump’s all-out war on immigrants spits in the faces of our Founding Fathers,” Wyden said. “Torching TPS is not the answer to repairing our country’s broken immigration system. Immigrants are the backbone of American communities, making the most out of hard-working everyday jobs that prop up our local economies. This bill offers a pathway to permanent residency to TPS recipients so they can fulfill their dream of building a life here in America.”

    Currently, 860,000 people live  in the United States with TPS status, a program that  provides temporary, legal immigration status to those fleeing natural disasters, violence, and political security in their home countries. Similarly, DED is a temporary and discretionary administrative stay of removal granted to foreign citizens from designated countries. These grants are usually in response to war, civil unrest, or natural disasters through an executive order or presidential memorandum that provides eligibility guidelines to conduct foreign relations.

    The reintroduction of the Safe Environment from Countries Under Repression and Emergency (SECURE) Act follows the Trump administration and the Supreme Court’s attack on TPS. The Supreme Court upheld the Trump administration’s repeal of TPS for an estimated 563,000 recipients, putting hundreds of thousands of immigrants at risk of deportation and significant danger in their home countries.

    This legislation is endorsed by AFL-CIO, Laborers’ International Union of North America, International Union of Painters and Allied Trades , CASA, National TPS Alliance, Working Families United, the National Network for Arab American Communities, International Longshore and Warehouse Union, Service Employees International Union , and Communities United for Status and Protection.

    In addition to Wyden, Senators Chris Van Hollen, D-Md., introduced the legislation, and was joined by Senators Angela Alsobrooks, D-Md., Tammy Baldwin, D-Wis., Michael Bennet, D-Colo., Richard Blumenthal, D-Conn., Cory Booker, D-N.J., Chris Coons, D-Del., Catherine Cortez-Masto, D-Nev., Tammy Duckworth, D-Ill., Dick Durbin, D-Ill., Martin Heinrich, D-N.M., John Hickenlooper, D-Colo., Mazie Hirono, D-Hawaii, Tim Kaine, D-Va., Andy Kim, D-N.J., Amy Klobuchar, D-Minn., Ben Ray Luján, D-N.M., Edward Markey, D-Mass., Patty Murray, D-Wash., Alex Padilla, D-Calif., Jack Reed, D-R.I., Jacky Rosen, D-Nev., Bernie Sanders, I-Vt., Brian Schatz, D-Hawaii, Adam Schiff, D-Calif., Tina Smith, D-Minn., Mark Warner, D-Va., Raphael Warnock, D-Ga., Elizabeth Warren, D-Mass., and Sheldon Whitehouse, D-R.I.

    Specifically, the SECURE Act would ensure current and past TPS recipients and DED eligible individuals – who have been continuously present in the United States for at least three years – are eligible to apply for legal permanent residency.

    .Under the SECURE Act:

    1. A spouse, domestic partner, child, or unmarried child of a qualifying non-citizen would be eligible to obtain permanent resident status (upon meeting certain requirements).
    2. Individuals with a pending TPS application will receive work authorization and be eligible for travel authorization.
    3. Non-citizens with a pending application on intention to apply for permanent legal status are shielded from deportation.  Non-citizens who have a pending application or are prima facie eligible for permanent status under the bill and intends to apply are shielded from deportation.
    4. Information from an applicant’s application may not be shared or used for immigration enforcement purposes, with limited exceptions such as identifying fraudulent claims.
    5. DHS must provide reasonable explanation to Congress before terminating a country’s DHS status.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Backing fair trade and healthy oceans

    Source: New Zealand Government

    The Government is investing a further $150,000 to support implementation of the WTO Fisheries Subsidies Agreement—ensuring New Zealand exporters can compete on a level playing field while helping protect global fish stocks.

    “This is about backing rules that stop unfair subsidies and make sure all countries are held to the same standards,” Trade and Investment Minister Todd McClay says.

    “It’s in New Zealand’s direct interest to see this Agreement fully implemented—especially in the Pacific, where many of our key partners operate and where our seafood exporters are active.”

    New Zealand’s total contribution now stands at $310,000.

    The 2022 Agreement—ratified by 102 WTO members—will ban subsidies that support illegal, unreported, and unregulated (IUU) fishing, fishing of overfished stocks, and unregulated high seas fishing. Just nine more ratifications are needed for it to enter into force.

    “Unfair subsidies distort global trade and undercut responsible producers like ours. This Agreement ensures a more level global playing field—while also supporting the sustainability of fish stocks we all rely on,” Mr McClay says.

    “New Zealand will continue to push for the Agreement to enter into force and for negotiations on additional rules to conclude quickly.”

    MIL OSI New Zealand News –

  • MIL-OSI: Bitcoin Treasury Corporation Announces Closing of Amalgamation and Concurrent Financing

    Source: GlobeNewswire (MIL-OSI)

    Not for distribution to United States news wire services or for dissemination in the United States.

    TORONTO, June 23, 2025 (GLOBE NEWSWIRE) — Bitcoin Treasury Corporation (“Bitcoin Treasury” or the “Corporation”), further to its press releases dated May 22, 2025, May 30, 2025, and June 17, 2025, is pleased to announce that it has completed the previously announced amalgamation, pursuant to which 2680083 Alberta Ltd. (“268”) and Bitcoin Treasury Corporation (pre-amalgamated entity) (“BTCT”) have amalgamated and will continue as one corporation, that will carry on the business of BTCT (the “Transaction”). The Corporation is also pleased to announce that a listing application in respect of the Corporation has been submitted to the TSX Venture Exchange (the “TSXV”) to list the common shares of the Corporation (the “Bitcoin Treasury Shares”). Listing of the Bitcoin Treasury Shares is subject to the TSXV providing final approval thereof (the “Listing”).

    Concurrent Financing

    The Corporation is also pleased to announce that, further to its press release dated May 30, 2025 and prior to the close of the Transaction, BTCT closed a concurrent brokered private placement of 8,407,350 equity subscription receipts and 25,000 convertible debenture subscription receipts (the “Convertible Debenture Subscription Receipts”) at a price of $1,000 per Convertible Debenture Subscription Receipt and a non-brokered private placement of 1,166,000 equity subscription receipts (the “Equity Subscription Receipts”) at a price of $10.00 per Equity Subscription Receipt for aggregate gross proceeds of $120,733,500 (collectively, the “Concurrent Financing”). Canaccord Genuity and Stifel acted as co-lead agents, together with National Bank Financial Markets, BMO Capital Markets, CIBC Capital Markets, Wellington-Altus, Greenhill, a Mizuho affiliate, Research Capital, Haywood Securities, ATB Capital Markets, Independent Trading Group, Richardson Wealth and Ventum Capital Markets (collectively, the “Agents”) in connection with the Concurrent Financing.

    Prior to the close of the Transaction, each Equity Subscription Receipt was converted into one common share of BTCT (“BTCT Share”) and each Convertible Debenture Subscription Receipt was converted into one convertible debenture of BTCT (“BTCT Convertible Debenture”) on a one for one basis.

    In connection with the closing of the Concurrent Financing and as consideration for their services, BTCT paid to the Agents cash fees of $5,979,000.

    Share Consolidation

    Immediately prior to the completion of the Transaction, 268 completed a consolidation of the common shares of 268 (“268 Shares”) based on a ratio of one (1) post-consolidation common share for each 51.66712593 pre-consolidation common shares, resulting in an aggregate of 74,999 268 Shares.

    The Transaction

    Pursuant to the amended and restated amalgamation agreement between 268 and BTCT dated June 16, 2025, among other things, (i) 268 and BTCT have amalgamated pursuant to the provisions of the Business Corporations Act (Alberta); (ii) each holder of BTCT Shares received one Bitcoin Treasury Share in exchange for each BTCT Share held by such holder and the BTCT Shares were cancelled by the Corporation; (iii) each holder of BTCT Convertible Debentures or warrants of BTCT (the “BTCT Convertible Securities”) received one convertible debenture in the Corporation or one warrant of the Corporation, as the case may be, in exchange for each BTCT Convertible Security held by such holder and the BTCT Convertible Securities were cancelled by the Corporation; (iv) each holder of 268 Shares received one Bitcoin Treasury Share in exchange for each 268 Share held by such holder and the 268 Shares were cancelled by the Corporation; and (v) the Corporation adopted the equity incentive plan of BTCT.

    Bitcoin Treasury Share Offering

    Upon final approval from the TSXV of the Listing and the TSXV’s issuance of a “list and halt” bulletin, the Corporation intends to complete a brokered offering of up to 426,650 Bitcoin Treasury Shares at a price of $10.00 per Bitcoin Treasury Share (the “Offered Shares”). This, combined with the Concurrent Financing, will provide aggregate gross proceeds of $125,000,000. The Offered Shares will be issued after the Bitcoin Treasury Shares commence trading on the TSXV, and such Bitcoin Treasury Shares shall immediately be halted. Such Offered Shares will be eligible for investment in RRSPs, RESPs, RRIFs, RDSPs, TFSAs, FHSAs and DPSPs, but will be subject to a statutory hold period of four months plus one day from the date the Offered Shares are issued, in accordance with applicable Canadian securities laws. The offering of the Offered Shares is expected to close on or about the week of June 23, 2025. In connection with the closing of the Offered Shares and as consideration for their services, BTCT anticipates a payment to the Agents a cash commission of $178,950.

    For further information, please contact:

    Bitcoin Treasury Corporation
    Elliot Johnson, Chief Executive Officer
    Phone: 416-619-3403
    Email: ejohnson@btctreasurycorp.com

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

    Cautionary Note Regarding Forward-Looking Statements

    This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the Listing of Bitcoin Treasury Shares; the offering of Offered Shares; the anticipated closing date of the Offered Share offering; receipt of a TSXV list and halt bulletin; the anticipated Agents fees relating to the Offered Share offering; expectations related to Bitcoin and its use in the future; and future development plans of the Corporation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: ability to close the Bitcoin Treasury Share Offering on the proposed terms or at all, the synergies expected from the Transaction not being realized; business integration risks; the Corporation’s operating results will experience significant fluctuations due to the highly volatile nature of Bitcoin; BTCT operates in a heavily regulated environment and any material changes or actions could lead to negative adverse effects to the business model, operational results, and financial condition of BTCT; evolving cryptocurrency regulatory requirements and the impact on BTCT’s business plan; Bitcoin value risk; reliance on key personnel; implementation of the Corporation’s business plan; lack of operating history; competitive conditions; de banking and financial services risk; anti money laundering and corrupt business practices; additional capital; financing risks; global financial conditions; insurance and uninsured risks; cybersecurity risks; changes to bank fees or practices, or payment card networks; audit of tax filings; market for the Bitcoin Treasury Shares; market price of the Bitcoin Treasury Shares; conflicts of interest; internal controls; tariffs and the imposition of other restrictions on trade could adversely affect the Corporation’s business; risk of litigation; pandemics or other health crisis; acquisitions and integration; risk of dilution of Bitcoin Treasury securities; dividend policy; Bitcoin price volatility; custodial risks; technological vulnerabilities; Bitcoin transactions are irreversible and may result in significant losses; short history risk; limited history of the Bitcoin market; potential decrease in the global demand for Bitcoin; economic and political factors; top Bitcoin holders control a significant percentage of the outstanding Bitcoin; availability of exchange traded products liquidity; security breaches; the amalgamation agreement may be terminated by 268 or BTCT in certain circumstances; there can be no certainty that all conditions precedent to the Transaction will be satisfied; BTCT and 268 may incur costs even if the Transaction is not completed; the requirements that accompany being a publicly traded company may put a strain on the Corporation’s resources, divert attention from management, and adversely affect its ability to maintain and attract management and qualified board members; uncertainty of use of proceeds; liquidity risk; leverage risk; and share price fluctuations.

    Although management of BTCT believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date of this news release, and BTCT does not undertake any obligation to update publicly or to revise any of the included forward -looking statements or information, whether as a result of new information, change in management’s estimates or opinions, future circumstances or events or otherwise, except as expressly required by applicable securities law.

    Completion of the Listing is subject to a number of conditions, including but not limited to, TSXV acceptance.

    Investors are cautioned that, except as disclosed in the filing statement filed on June 17, 2025, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.

    The TSXV has neither approved nor disapproved the contents of this news release.

    The MIL Network –

  • MIL-OSI United Kingdom: UK to deliver on 5% NATO pledge as Government drives greater security for working people

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK to deliver on 5% NATO pledge as Government drives greater security for working people

    Working people will be more secure as the Prime Minister will make a historic commitment at the NATO Summit to spend 5% of GDP on national security.  

    • UK to publish landmark National Security Strategy, to make the UK more secure in an era of radical uncertainty.  
    • Comes as the Prime Minister announces that the UK expects to spend 5% of GDP on national security by the parliament after next.
    • Historic 5% commitment will be made up of both defence spending, wider homeland security and national resilience.
    • Report says it takes a whole of society approach to strengthen national security, creating jobs and opportunities for British people.

    Working people will be more secure as the Prime Minister will make a historic commitment today at the NATO Summit (Tuesday 24 June) to spend 5% of GDP on national security.  

    This pledge to meet the NATO commitment on 5% comes as the government today publishes its National Security Strategy, drawing together all of the security work that has taken place since the General Election, with the relentless pursuit of British interests as its founding principle. 

    Marking a step change with the approach of previous governments, the National Security Strategy directly answers to the concerns of working people, aligning our national security objectives and plans for economic growth in a way not seen since 1945.  

    This will increase investment in security, defence and resilience, delivering jobs, wages and growth for the British people to raise living standards and put more money in working people’s pockets.   

     Prime Minister Keir Starmer said: 

    We must navigate this era of radical uncertainty with agility, speed and a clear-eyed sense of the national interest to deliver security for working people and keep them safe.   

    That’s why I have made the commitment to spend 5% of GDP on national security. This is an opportunity to deepen our commitment to NATO and drive greater investment in the nation’s wider security and resilience.   

    After all, economic security is national security, and through this strategy we will bring the whole of society with us, creating jobs, growth and wages for working people – guided by my Plan for Change.

    The UK has long argued that investment in things like energy security and tackling smuggling gangs is vital to national security. That is reflected in the National Security Strategy and the Spending Review and is now expected to be recognised by NATO. 

    With the new 5% commitment on national security, the UK expects a projected split of 3.5% (core defence) and 1.5% (resilience and security) to be agreed at the NATO summit, with a target date of 2035.

    Under NATO’s new estimate, the UK expects to reach at least 4.1% of GDP in 2027. All Allies will review the trajectory and the balance of spend between defence and wider national resilience in 2029, when NATO next reviews its capability plans.

    The National Security Strategy, with support from academics and other technical experts, reaffirms that the UK must become more competitive and robust in crucial areas like science, education, trade and frontier technology – or risk falling behind. 

    In a more transactional world, the report determines that building our own sovereign, independent capabilities in strategically important areas will reduce our dependency on other nations, support British businesses to grow and shield the British public from strong headwinds in the global economy.

    As this government has said before, the benefits of our increased investment in defence will be felt directly in the pockets of working people. This will extend to good, stable work in communities across the country – from doubling the number of apprentices and creating 9,500 jobs Berkshire by investing £15 billion in our sovereign warhead programme, to delivering 200 new jobs in BAE Systems’ new artillery factory in Sheffield or supporting 800 defence jobs across the country to build up to 7,000 long range missiles for our Armed Forces.

    Drawing our priorities to make the UK more secure and economically prosperous further together, the government’s Industrial Strategy will also invest £86 billion in research and development to drive growth in technologies that will underpin our future economic and military competitiveness.  

    The National Security Strategy is also a call to action that our entire society needs to become more resilient, recognising that national security means more than it used to – from the security of our borders to the health of our economy, from supply chains to food prices and from safety on our streets to the online world.  

    Faced by this reality in a world of increasing ‘grey zone’ threats, we cannot take a piecemeal approach that enhances the security of one part of our critical national infrastructure but leaves gaps elsewhere for our adversaries to exploit. This requires us to fortify in the round our economy, industry, digital communications and transport and energy networks against cyber-attacks and sabotage that we have seen launched against our public services and businesses, causing uncertainty and inconvenience for working people. 

    So, by stepping up we will meet the threats we face, following the clear objectives defined in the National Security Strategy to make every part of the UK more secure and resilient. We will become more unapologetic and systematic in pursuit of our national interests – delivering security for the British people.    

    The National Security Strategy brings together:  

    • Strategic Defence Review 
    • Strategic Security Review   
    • AUKUS Review 
    • Resilience Strategy 
    • China Audit   
    • Industrial and Trade Strategies

    Updates to this page

    Published 23 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Pelican Acquisition Corporation Signs Letter of Intent to Acquire Greenland Exploration Limited

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 23, 2025 (GLOBE NEWSWIRE) — Pelican Acquisition Corporation (NASDAQ: PELI, the “Company” or “Pelican”), a Cayman Islands exempted company formed as a special purpose acquisition company, today announced that it has entered into a non-binding letter of intent (“LOI”) with Greenland Exploration Limited (“Greenland Exploration” or “GEL”) to pursue a potential business combination.

    Greenland Exploration is a Texas-based special purpose vehicle focused on developing strategic interests in North American energy assets. Greenland Exploration has an agreement that will allow it to invest up to $70 million in the Jameson Land Basin, where it’s partner March GL Company has rights through a drill in program to over 2 million acres on the island of Greenland. According to March GL Company, over $200 million has been invested to date by major oil companies (including ARCO) to develop oil reserves in the Jameson Land Basin. A 2007 estimate from the U.S. Geological Survey suggests that Greenland contains approximately 31.4 billion barrels of oil equivalent, including oil, gas and natural gas liquids. Taking this fact into consideration, coupled with recent US prerogatives to designate Greenland as a strategic defensive location, Pelican believes the proposed transaction with GEL could present an extraordinarily unique and attractive opportunity for its shareholders.

    Under the preliminary, non-binding terms, the parties are exploring a potential share-for-share exchange in which Pelican would acquire 100% of the issued and outstanding equity of GEL. While the structure remains subject to further negotiation and due diligence, the LOI contemplates an exchange ratio of one Pelican share for each GEL common share which would result in the issuance of 21.5 million shares of Pelican. In addition, March GL Company may receive certain equity exchange rights based on a notional valuation of $200 million, assuming a $10.00 per share value for Pelican, subject to final structuring and definitive documentation.

    “This letter of intent represents an exciting first step in our strategy to bring valuable energy assets to the public markets,” said Robert Labbe, Chief Executive Officer of Pelican. “We believe Greenland Exploration’s potential access to strategic reserves in an underexplored region makes it a promising partner for long-term growth.”

    “We are very pleased to enter into this LOI with Pelican as we pursue a public market strategy to develop one of the world’s most significant untapped hydrocarbon basins,” said Larry G. Swets, Jr., Chief Executive Officer of Greenland Exploration. “We look forward to working closely with Pelican to evaluate this opportunity.”

    The LOI provides for a 30-day exclusive negotiation period, during which the parties will work in good faith toward executing a definitive agreement. The transaction remains subject to, among other things, execution of definitive agreements, completion of due diligence, approval of the boards and shareholders of the respective parties (if applicable), and regulatory and other customary conditions.

    As part of the contemplated deal structure, Pelican’s sponsor would forfeit founder shares such that post-transaction, its founder equity would equal 25% of the shares issued in its IPO. The current structure under discussion does not include a minimum cash condition from Pelican’s trust account for the transaction to close.

    ThinkEquity is acting as advisor to Greenland Exploration and EarlyBirdCapital is acting as advisor to Pelican on the transaction.

    Important Note Regarding the LOI

    The LOI is non-binding and there can be no assurance whatsoever that a definitive agreement will be executed or that the proposed transaction will be completed on the terms described, or at all.

    About Greenland Exploration Limited

    Greenland Exploration Limited is a Texas-based entity focused on developing strategic positions in North American energy assets. Through its partnerships and future acquisitions, GEL aims to deliver long-term shareholder value in a dynamic and evolving energy market.

    About March GL Company

    March GL Company, a privately-owned Texas Corporation, entered into an agreement with 80 Mile, for drilling to commence at the Jameson oil and gas basin in Greenland. March GL will fund 100% of the costs associated with up to two exploration wells which are designed to delineate the sedimentary structure and energy potential of the Jameson Basin. In return, March GL will earn through 80 Mile’s subsidiary company White Flame A/S up to 70% interest of the entire basin. March GL Company will be appointed by White Flame A/S as Field Operations Manager. More information is available at it’s website www.MarchGL.com.

    About Pelican Acquisition Corporation

    Pelican Acquisition Corporation is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Pelican is not limited to any particular industry or geographic region in identifying prospective targets.

    Forward-Looking Statements

    This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. These statements relate to, among other things, the proposed business combination, future operations, and performance. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties that could cause actual results to differ materially. No assurance can be given that the parties will enter into a definitive agreement or that the proposed transaction will be consummated as described, or at all. Pelican disclaims any obligation to update or revise any forward-looking statements to reflect events or circumstances that occur after the date of this release.

    Contact

    Robert Labbe
    Chief Executive Officer
    Email: admin@pelicanacq.com
    Tel: (212) 612-1400

    The MIL Network –

  • MIL-OSI: Service CU Launches Service Ventures to Drive Innovation in the Credit Union Ecosystem

    Source: GlobeNewswire (MIL-OSI)

    PORTSMOUTH, N.H., June 23, 2025 (GLOBE NEWSWIRE) — Service Ventures, an independent investment arm of Service Credit Union, has officially launched to allow the credit union to drive its mission of improving members’ financial well-being while also helping their experience.

    Service Ventures invests in solutions that empower credit unions to deliver exceptional member experiences. The firm seeks partnerships with startups that share a commitment to enhancing service, accessibility, and operational excellence across the credit union landscape.

    In its early stage, Service Ventures has already made strategic investments in several innovative companies, including member engagement platform Larky, deposit management solution Modern FI CUSO, conversational AI assistant Posh AI, and wealth technology company WealthCabinet. More information on each of these companies can be found at service.vc/portfolio.

    Service Ventures is led by General Partner Brian Regan. Before joining Service Ventures in 2024, Brian co-founded Strake, a cloud optimization company. Prior to that, Brian worked for VMWare’s Security Business Unit, where he focused on mergers and acquisitions, partnerships, and business planning initiatives.

    “Service Ventures will fuel the next generation of companies that help credit unions better serve their members,” Regan said. “We’re focused on ethical, member-first solutions and are excited to bring visionary founders into the fold of opportunity within the cooperative banking space.”

    About Service Ventures

    Service Ventures is the independent venture capital arm of Service Credit Union, a $6+ billion financial institution serving more than 350,000 members worldwide. Service Ventures invests in innovative financial technology companies that align with the credit union philosophy of people helping people and fosters partnerships that drive meaningful impact across the financial services landscape.

    About Service Credit Union

    Service Credit Union is dedicated to providing a banking experience that improves our members’ lives and the communities in which they live. Established in 1957 to provide affordable credit to the Pease Air Force Base community, and now the largest credit union in New Hampshire, with over $6 billion in assets and 50 branch locations in the New England Region and Germany, we continue to provide a better future to our members all over the world. To learn more about Service Credit Union, please visit www.servicecu.org.

    Contact:
    Chris Banker
    cbanker@servicecu.org (603) 923-0904

    The MIL Network –

  • MIL-OSI USA: CFTC Staff Issues No-Action Letter Extension Regarding Non-U.S. Swap Dealers

    Source: US Commodity Futures Trading Commission

    CFTC Staff Issues No-Action Letter Extension Regarding Non-U.S. Swap Dealers | CFTC

    /PressRoom/PressReleases/9088-25
    Skip to main content

    June 23, 2025

    WASHINGTON, D.C. — The Commodity Futures Trading Commission’s Division of Market Oversight today issued a no-action letter extending the no-action position of CFTC Letter No. 22-14 concerning certain swap reporting requirements of Part 45 and Part 46 of the CFTC’s regulations.  

    The letter applies to certain non-U.S. swap dealers and non-U.S. major swap participants established in Australia, Canada, the European Union, Japan, Switzerland or the United Kingdom, that are not part of an affiliated group in which the ultimate parent entity is a U.S. swap dealer, U.S. major swap participant, U.S. bank, U.S. financial holding company or U.S. bank holding company.  

    -CFTC-

    MIL OSI USA News –

  • MIL-OSI USA: NASA’s Curiosity Mars Rover Starts Unpacking Boxwork Formations

    Source: NASA

    [embedded content]
    Drag your mouse or move your phone to pan around within this 360-degree view to explore the boxwork patterns on Mars that NASA’s Curiosity is investigating for the first time. The rover captured the 291 images that make up this mosaic between May 15 and May 18.Credit: NASA/JPL-Caltech/MSSS

    The rover recently drilled a sample from a new region with features that could reveal whether Mars’ subsurface once provided an environment suitable for life.
    New images from NASA’s Curiosity Mars rover show the first close-up views of a region scientists had previously observed only from orbit. The images and data being collected are already raising new questions about how the Martian surface was changing billions of years ago. The Red Planet once had rivers, lakes, and possibly an ocean. Although scientists aren’t sure why, its water eventually dried up and the planet transformed into the chilly desert it is today.
    By the time Curiosity’s current location formed, the long-lived lakes were gone in Gale Crater, the rover’s landing area, but water was still percolating under the surface­. The rover found dramatic evidence of that groundwater when it encountered crisscrossing low ridges, some just a few inches tall, arranged in what geologists call a boxwork pattern. The bedrock below these ridges likely formed when groundwater trickling through the rock left behind minerals that accumulated in those cracks and fissures, hardening and becoming cementlike. Eons of sandblasting by Martian wind wore away the rock but not the minerals, revealing networks of resistant ridges within.

    The ridges Curiosity has seen so far look a bit like a crumbling curb. The boxwork patterns stretch across miles of a layer on Mount Sharp, a 3-mile-tall (5-kilometer-tall) mountain whose foothills the rover has been climbing since 2014. Intriguingly, boxwork patterns haven’t been spotted anywhere else on the mountain, either by Curiosity or orbiters passing overhead.
    “A big mystery is why the ridges were hardened into these big patterns and why only here,” said Curiosity’s project scientist, Ashwin Vasavada of NASA’s Jet Propulsion Laboratory in Southern California. “As we drive on, we’ll be studying the ridges and mineral cements to make sure our idea of how they formed is on target.”
    Important to the boxwork patterns’ history is the part of the mountain where they’re found. Mount Sharp consists of multiple layers, each of which formed during different eras of ancient Martian climate. Curiosity essentially “time travels” as it ascends from the oldest to youngest layers, searching for signs of water and environments that could have supported ancient microbial life.
    The rover is currently exploring a layer with an abundance of salty minerals called magnesium sulfates, which form as water dries up. Their presence here suggests this layer emerged as the climate became drier. Remarkably, the boxwork patterns show that even in the midst of this drying, water was still present underground, creating changes seen today.

    Scientists hope to gain more insight into why the boxwork patterns formed here, and Mars recently provided some unexpected clues. The bedrock between the boxwork ridges has a different composition than other layers of Mount Sharp. It also has lots of tiny fractures filled with white veins of calcium sulfate, another salty mineral left behind as groundwater trickles through rock cracks. Similar veins were plentiful on lower layers of the mountain, including one enriched with clays, but had not been spotted in the sulfate layer until now.
    “That’s really surprising,” said Curiosity’s deputy project scientist, Abigail Fraeman of JPL. “These calcium sulfate veins used to be everywhere, but they more or less disappeared as we climbed higher up Mount Sharp. The team is excited to figure out why they’ve returned now.”
    New Terrain, New Findings
    On June 8, Curiosity set out to learn about the unique composition of the bedrock in this area, using the drill on the end of its robotic arm to snag a sample of a rock nicknamed “Altadena.” The rover then dropped the pulverized sample into instruments within its body for more detailed analysis.
    Drilling additional samples from more distant boxwork patterns, where the mineral ridges are much larger, will help the mission make sense of what they find. The team will also search for organic molecules and other evidence of an ancient habitable environment preserved in the cemented ridges.
    As Curiosity continues to explore, it will be leaving a new assortment of nicknames behind, as well. To keep track of features on the planet, the mission applies nicknames to each spot the rover studies, from hills it views with its cameras to specific calcium sulfate veins it zaps with its laser. (Official names, such as Aeolis Mons — otherwise known as Mount Sharp — are approved by the International Astronomical Union.)
    The previous names were selected from local sites in Southern California, where JPL is based. The Altadena sample, for instance, bears the name of a community near JPL that was severely burned during January’s Eaton Canyon fire. Now on a new part of their Martian map, the team is selecting names from around Bolivia’s Salar de Uyuni, Earth’s largest salt flat. This exceptionally dry terrain crosses into Chile’s Atacama Desert, and astrobiologists study both the salt flat and the surrounding desert because of their similarity to Mars’ extreme dryness.
    More About Curiosity
    Curiosity was built by NASA’s Jet Propulsion Laboratory, which is managed by Caltech in Pasadena, California. JPL leads the mission on behalf of NASA’s Science Mission Directorate in Washington as part of NASA’s Mars Exploration Program portfolio.
    For more about Curiosity, visit:
    science.nasa.gov/mission/msl-curiosity
    News Media Contacts
    Andrew GoodJet Propulsion Laboratory, Pasadena, Calif.818-393-2433andrew.c.good@jpl.nasa.gov
    Karen Fox / Molly WasserNASA Headquarters, Washington202-358-1600karen.c.fox@nasa.gov / molly.l.wasser@nasa.gov
    2025-080

    MIL OSI USA News –

  • MIL-OSI Economics: Panels established to review Canadian surtaxes, Chinese duties on farm and fish products

    Source: World Trade Organization

    DS627: Canada — Measures on Certain Products of Chinese Origin

    China submitted its second request for the establishment of a dispute panel with respect to the surtax measures imposed by Canada on certain products of Chinese origin, including electric vehicles and steel and aluminium products. Canada had said it was not ready to accept China’s first request for the panel at a DSB meeting on 23 May.

    China said it considers Canada’s measures inconsistent with provisions of the General Agreement on Tariffs and Trade (GATT). It added that it was open to constructive discussions and remains committed to resolving the dispute.

    It is unfortunate that China has included in its panel request claims related to certain solar products, critical minerals, semiconductors, permanent magnets and natural graphite imported from China, Canada said, noting that there are no Canadian surtax measures on these products. China has therefore failed to identify the specific measures at issue as required under the Dispute Settlement Understanding (DSU), Canada said.

    Canada said its surtax measures on electric vehicles and steel and aluminium products are justified under the GATT and that it was fully prepared to defend these measures. Canada remains committed to maintaining constructive dialogue with China even as the dispute moves to the panel stage, it added.

    The United States said that China responded to the surtaxes by imposing countermeasures in the form of additional duties on Canadian agricultural and fishery products.

    The DSB agreed to the establishment of the panel. 

    Australia, the European Union, India, Japan, the Republic of Korea, Malaysia, Norway, the Russian Federation, Singapore, Switzerland, Türkiye, the United Kingdom, Ukraine and the United States reserved their third-party rights to participate in the proceedings.

    DS636: China — Additional Import Duties on Certain Agricultural and Fishery Products from Canada

    Canada submitted its second request for the establishment of a dispute panel with respect to the additional import duties imposed by China on certain Canadian agricultural and fisheries products. China had said it was not ready to accept Canada’s first request for the panel at a special DSB meeting on 5 June.

    Canada said the import duties imposed by China represented a unilateral determination and trade countermeasures contrary to WTO rules. Canada moreover said that as the dispute concerns perishable goods, the case should be treated as urgent as provided by the DSU. Canada remains committed to maintaining constructive dialogue with China even as the dispute moves to the panel stage, it added.

    China replied that it regretted Canada’s decision to seek the establishment of a panel and opposed Canada’s claim that DSU provisions on urgency apply to this case. China said it will defend itself in the proceedings and is confident that its measures will be found consistent with WTO rules. It added that it remained open to engagement with Canada.

    The United States reiterated that the measures at issue are countermeasures imposed by China in response to Canadian measures China is challenging in DS627.

    The DSB agreed to the establishment of the panel. 

    Australia, the European Union, India, Japan, Norway, the Russian Federation, Singapore, Switzerland, Türkiye, the United Kingdom, the United States and Viet Nam reserved their third-party rights to participate in the proceedings.

    Appellate Body appointments

    Colombia, speaking on behalf of 130 members, introduced for the 88th time the group’s proposal to start the selection processes for filling vacancies on the Appellate Body. The extensive number of members submitting the proposal reflects a common interest in the functioning of the Appellate Body and, more generally, in the functioning of the WTO’s dispute settlement system, Colombia said.

    The United States said it does not support the proposed decision and noted its longstanding concerns with WTO dispute settlement that have persisted across US administrations. The United States emphasized that the dispute settlement process was meant to help members resolve specific disputes without creating new rules that alter rights and obligations under the covered WTO agreements. The US reiterated that fundamental reform of WTO dispute settlement is needed and that it will reflect on the extent to which it is possible to achieve such a reformed WTO dispute settlement system.

    More than 20 members took the floor to comment, one speaking on behalf of a group of members. Several members urged others to consider joining the Multi-party interim appeal arrangement (MPIA), a contingent measure to safeguard the right to appeal in the absence of a functioning Appellate Body. 

    Colombia, on behalf of the 130 members, said it regretted that for the 88th occasion members have not been able to launch the selection processes. Ongoing conversations about reform of the dispute settlement system should not prevent the Appellate Body from continuing to operate fully, and members shall comply with their obligation under the Dispute Settlement Understanding to fill the vacancies as they arise, Colombia said for the group.

    Dispute settlement reform

    The DSB Chair, Ambassador Clare Kelly (New Zealand), said that the General Council (GC) Chair Ambassador Saqer Abdullah Almoqbel (Kingdom of Saudi Arabia) had informed members in a 6 June communication that, regarding dispute settlement reform, his consultations have confirmed readiness to preserve and build on the progress already made, and to advance only when the time is ripe to make meaningful progress on key unresolved issues with the engagement of all delegations.

    The GC Chair also indicated that both the DSB Chair and the GC Chair will be closely monitoring the situation and will revert to members at the appropriate time. The DSB chair added that her door is open to delegations wishing to further discuss the matter.

    Surveillance of implementation

    The United States presented status reports with regard to DS184, “US — Anti-Dumping Measures on Certain Hot-Rolled Steel Products from Japan”,  DS160, “United States — Section 110(5) of US Copyright Act”, DS464, “United States — Anti-Dumping and Countervailing Measures on Large Residential Washers from Korea”, and DS471, “United States — Certain Methodologies and their Application to Anti-Dumping Proceedings Involving China.”

    The European Union presented a status report with regard to DS291, “EC — Measures Affecting the Approval and Marketing of Biotech Products.”

    Indonesia presented its status reports in DS477 and DS478, “Indonesia — Importation of Horticultural Products, Animals and Animal Products.” 

    Next meeting

    The next regular DSB meeting will take place on 25 July 2025.

    Share

    MIL OSI Economics –

  • MIL-OSI Russia: Guatemala: Staff Concluding Statement of the 2025 Article IV Mission

    Source: IMF – News in Russian

    June 23, 2025

    A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

    The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.

    An International Monetary Fund (IMF) mission led by Mr. Alexander Culiuc visited Guatemala City during June 10-20, 2025 for the 2025 Article IV consultation. At the end of the visit, the mission issued the following statement:

    • Prudent macroeconomic management has supported Guatemala’s resilience, delivering low inflation, robust policy buffers and a sustained current account surplus. With rising external uncertainty and mounting risks, stronger, more inclusive growth and poverty reduction can be achieved by accelerating reform implementation and enhancing policy coordination.
    • Raising private investment from current low levels requires complementary public inputs—infrastructure, educated and healthy labor force, security—which can only be adequately delivered by simultaneously raising public spending and improving its quality.
    • Improving quality and efficiency of spending entails better budget formulation, targeting, execution and control, and swift implementation of the anti-corruption agenda. We welcome the authorities’ efforts in this regard.
    • In the short term, existing fiscal space enables financing higher levels of spending with debt, with greater reliance on domestic borrowing.
    • In the medium term, raising revenues—primarily via comprehensive tax policy reform—would revert deficits to around 2 percent of GDP to preserve debt sustainability while maintaining priority spending at adequate levels.
    • Other structural and governance reforms pursued by the authorities, including in the financial and labor sectors—particularly urgent in the case of the AML/CFT law—will help support private sector growth. Continued commitment to dialogue and consensus-building can sustain progress on key legislative initiatives.

    Recent Economic Developments, Outlook, and Risks

    Guatemala’s economy remains resilient despite rising external risks and domestic challenges. Real GDP grew by 3.7 percent in 2024, supported by strong private consumption. Inflation has eased significantly, with headline inflation falling to 1.7 percent in May 2025, while core inflation remains near 4 percent, and inflation expectations are well anchored. The current account surplus narrowed to 2.9 percent of GDP in 2024 as imports picked up, while remittances stabilized at 19 percent of GDP and international reserves reached US$27.1 billion. Public debt remains low—under 27 percent of GDP—and Guatemala is now only one notch below investment grade. Banguat kept its policy rate unchanged at 4.5 percent since the 25bps cut in November 2024.

    Guatemala endeavors an investment-biased fiscal expansion. The August 2024 supplementary budget prioritized infrastructure and social spending and targeted a deficit of 2.7 percent of GDP; the realized deficit was significantly lower at 1 percent of GDP. The 2025 budget continues this expansionary approach, with a further increase in infrastructure and social allocations. While the original budget targeted a deficit of 3.2 percent of GDP, a supplementary budget, specifying carryovers from 2024 and one-off pension payments, raised the budget deficit to a notably high 3.8 percent of GDP.

    The outlook for 2025 is encouraging; sustaining the growth momentum over the medium term will require steadfast policy implementation. Real GDP growth is projected at 3¾ percent in 2025, with the fiscal impulse expected to help cushion the effects of softening global demand and high uncertainty. Beyond 2025, growth is projected to slightly exceed 3½ percent, although an acceleration in public infrastructure execution and structural reforms could push both actual and potential growth higher in the outer projection years. Headline inflation is expected to gradually converge toward the monetary policy target, while the fiscal deficit is projected to remain elevated by historical standards at just below 3 percent of GDP through the medium term. The current account surplus is expected to narrow and eventually close, while public debt is projected to climb above 30 percent of GDP in the medium term.

    The balance of risks is tilted to the downside. On the domestic front, there is a risk that ongoing political tensions could impede progress on legislative initiatives. Nonetheless, important progress has been made over the past year—including the approval of the 2025 budget and the competition law—demonstrating the capacity for reform even in a complex environment. Externally, intensified and/or protracted global trade disputes would weigh further on investment sentiment, although Guatemala is somewhat better positioned to weather additional trade shocks than some regional peers. Further changes in U.S. migration policy—including the proposed 3.5 percent excise tax on remittances—could disrupt remittance-supported consumption. On the upside, lower net emigration also offers a window to boost domestic employment if accompanied by targeted efforts to expand job opportunities in the formal private sector.

    Fiscal Policy

    The 2025 expansionary fiscal stance is appropriate, as private demand is projected to soften in the remainder of the year. Structural bottlenecks and recently strengthened anti-corruption controls are likely to limit the execution of capital spending, with the deficit projected at around 2½ percent of GDP, well below the revised budget of 3.8 percent. The historically high (1.3 percent of GDP) transfers to Departmental Development Councils (CODEDEs) require close oversight and monitoring amidst concerns of elevated risks of misallocation and inefficient use. The authorities’ ongoing multi-institutional efforts to strengthen the transparency, accountability, monitoring of CODEDEs transfers and capacity of municipalities are welcome and should be sustained.

    A combination of revenue and expenditure reforms is needed in the medium term. Authorities should seek ways of reverting fiscal deficits closer to historical levels (around 2 percent of GDP) without jeopardizing the much-needed surge in public infrastructure and social spending. The tax authority (SAT) has made commendable steps in strengthening compliance through the rollout of mandatory electronic invoicing, enhanced border enforcement to combat smuggling, and more robust audits of high-income individuals and large corporations. Efforts to improve mobilization—in line with the now-public 2024 TADAT report—should continue and be complemented in the medium term by comprehensive tax policy reforms. On the expenditure side, strengthening institutional capacity for systematic expenditure reviews and embedding the National Development Plan into annual and multi-year budgets would align public spending with strategic priorities. A new Public Procurement law—currently under consideration—could alleviate bottlenecks in the execution of capital spending. Improved targeting in social programs would further increase their effectiveness. Strengthening the Medium-Term Fiscal Framework and multiannual budget planning underpinned by realistic, sector-informed projections will bolster confidence—including of market participants—in fiscal sustainability.

    A well-calibrated financing strategy would help the macro-policy mix. While solid creditworthiness enables the government to borrow externally on favorable terms, greater reliance on domestic financing under a sound medium term debt management strategy (MTDS) would (i) reduce real appreciation pressures (which already weigh on Guatemala’s external competitiveness), (ii) help develop the domestic financial market, (iii) reduce currency risks, and (iv) lower costs of monetary policy operation incurred by Banguat to maintain price stability. The mission also encourages the Ministry of Finance to consolidate domestic issuances, introduce shorter-maturity instruments to help develop the yield curve, and regularly publish the MTDS and annual borrowing plans.

    Monetary and Exchange Policies

    The current monetary policy stance is broadly appropriate, but there is scope to further strengthen monetary policy transmission. The ex-ante real policy rate is at 1 percent, within the estimated range for the neutral real rate (1–2 percent). Given prevailing uncertainty regarding the inflationary impact of recent U.S. tariff measures and potential disruptions to global supply chains, there’s scope in maintaining the current policy stance and waiting for greater clarity before making further adjustments. Estimated passthrough of the policy rate to deposit rates has recently increased. More can be done, including by advancing financial market development and competition and reducing reliance on reserve requirements for liquidity management. These efforts should be underpinned by improvements in the legal framework and market infrastructure supporting monetary policy operations.

    Banguat’s response to large remittances inflows is appropriate and requires closer coordination with MinFin to address ensuing sterilization costs. Banguat’s FX participation rule delivers a reasonable balance between enabling higher consumption and maintaining external competitiveness. The resulting external position is stronger than fundamentals and desirable policies, but this positive current account gap should be closed by raising investment. On the flip side, Banguat’s policy necessarily relies on costly liquidity sterilization operations to keep inflation in check. While recent international financial conditions have been supportive of Banguat’s profitability, these costs could be further reduced through higher reliance on domestic debt to finance the budget, and closer coordination with MinFin on liquidity management. In the long term, ensuring Banguat’s financial strength will require consistent enforcement of legal provisions mandating budget to cover central bank losses.

    Financial Sector

    Maintaining financial stability requires continued close monitoring of the system. Guatemala’s banking system remains sound, with solid capital and liquidity buffers and strong profitability. The authorities have made important progress in bolstering the regulatory and supervisory framework through enhanced credit risk regulations, more robust stress testing, broader regulatory coverage, and the inclusion—on a voluntary basis—of savings and credit cooperatives in the Credit Risk Information System. These efforts should be reinforced by expanding risk-based supervision and strengthening oversight of fintech and digital financial services. Adopting revisions to the 2002 Law on Banks and Financial Groups, transitioning to International Financial Reporting Standards, advancing the draft Secondary Market Law, approving the e-money law and continued implementation of other elements of the financial inclusion strategy are needed.

    Governance and Structural Agenda

    Strengthening governance and advancing structural reforms are critical to fostering inclusive growth and restoring public trust. Key legislative priorities include the adoption of a revised AML/CFT Law aligned with international standards, the Beneficial Ownership Law, the Public Procurement Law and the Law for the Protection of Whistleblowers to ensure secure reporting channels and legal safeguards. With GAFILAT mutual evaluation expected in 2027, further delays with the AML/CFT law could complicate Guatemala’s path to investment grade. Institutional progress—such as the creation of the National Commission Against Corruption and the rollout of probity offices across executive institutions—should be consolidated through a medium-term anti-corruption strategy. Accelerating infrastructure investment through amendments to the law on Partnerships for Development of Economic Infrastructure, and a new law on ports is essential to close persistent gaps and crowd in private investment. Continued efforts to formalize the economy and improve the business environment will help prepare the economy for the impact of lower net emigration on the labor market.

    The mission wishes to thank the Guatemalan authorities for their cooperation and openness in the exchanges throughout our visit and wishes them every success in their efforts to move the country towards a new equilibrium characterized by high, inclusive and sustainable growth.

    Guatemala: Selected Economic Indicators

     

     

    Projections

    2023

    2024

    2025

    2026

    2027

    2028

    2029

       (Annual percent change, unless otherwise indicated)

    Income and prices

    Real GDP

    3.5

    3.7

    3.8

    3.6

    3.6

    3.7

    3.8

    Inflation (average)

    6.2

    2.9

    2.4

    4.0

    4.0

    4.0

    4.0

    (In percent of GDP, unless otherwise indicated)

    External Sector

    		  

    Current Account Balance

    3.1

    2.9

    2.5

    1.7

    1.3

    0.7

    0.2

    Trade Balance (goods and services)

    -15.1

    -15.5

    -15.9

    -15.8

    -15.4

    -15.0

    -14.7

    Remittances

    19.0

    19.0

    18.8

    18.0

    17.1

    16.3

    15.5

    Financial Account (“+” = net lending)

    2.7

    2.5

    2.5

    1.7

    1.3

    0.7

    0.2

    Central Government Finances

    Total Revenues

    12.5

    12.4

    12.4

    12.4

    12.4

    12.4

    12.4

    Tax Revenues

    11.7

    11.8

    11.7

    11.7

    11.7

    11.7

    11.7

    Total Expenditure

    13.7

    13.4

    15.0

    15.1

    15.3

    15.2

    15.2

    Current

    11.2

    11.0

    11.8

    11.7

    11.9

    11.9

    12.0

    Capital

    2.5

    2.4

    3.2

    3.4

    3.4

    3.3

    3.2

    Primary Balance

    0.4

    0.7

    -1.0

    -1.1

    -1.2

    -1.0

    -1.0

    Overall Balance

    -1.3

    -1.0

    -2.6

    -2.8

    -2.9

    -2.8

    -2.8

    Central Government Debt

    Gross Central Government Debt

    27.2

    26.3

    27.1

    28.0

    28.9

    29.6

    30.2

    Source: Bank of Guatemala; Ministry of Finance; and Fund staff estimates and projections. 
    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Meera Louis

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

    https://www.imf.org/en/News/Articles/2025/06/23/guatemala-staff-concluding-statement-of-the-2025-article-iv-mission

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Russia: IMF Executive Board Concludes Bangladesh Combined Third and Fourth Reviews under the Extended Credit Facility, Extended Fund Facility, and Resilience and Sustainability Facility

    Source: IMF – News in Russian

    June 23, 2025

    • The IMF Executive Board concluded the combined third and fourth reviews of Bangladesh’s arrangements under the Extended Credit Facility (ECF) and Extended Fund Facility (EFF) and approved an extension, augmentation and rephasing of access. This decision provides Bangladesh with immediate access to about US$884 million.
    • The IMF Executive Board also concluded the combined Third and Fourth Reviews of Bangladesh’s arrangement under the Resilience and Sustainability Facility (RSF), making available about US$453 million to support the Bangladesh economy’s resilience to climate change.
    • Bangladesh’s program performance has been broadly satisfactory despite the difficult political and economic context and increased downside risks. Advancing the reform agenda is critical to restoring economic stability, protecting the vulnerable, and supporting inclusive and environmentally sustainable growth.

    Washington, DC: The Executive Board of the International Monetary Fund completed the combined Third and Fourth Reviews of Bangladesh’s arrangements under the Extended Credit Facility (ECF), the Extended Fund Facility (EFF), and the Resilience and Sustainability Facility (RSF). The Executive Board also approved an augmentation of SDR 567.19 million (53.2 percent of quota) for the ECF/EFF arrangements and a six-month extension. Completion of these reviews allows the authorities to immediately withdraw SDR 650.5 million (about US$884 million) under the ECF/EFF, and SDR 333.3 million (about US$453 million) under the RSF.[1]

    Further, the IMF Executive Board approved a modification of performance criteria and granted a waiver for the non-observance of the performance criterion related to the non-imposition and non-intensification of exchange restrictions, based on the temporary nature of the non-observance and the implementation of corrective measures.

    Bangladesh’s arrangements under the ECF/EFF/RSF  were approved on January 30, 2023, in an amount equivalent to SDR 2.5 billion (154.3 percent of quota or about US$3.3 billion) under the ECF/EFF and SDR 1 billion (93.8 percent of quota or about US$1.4 billion) under the RSF (PR no. 23/25)

    The augmentation approved by the Executive Board today brings the total financial assistance under the ECF and EFF arrangements to SDR 3,035.65 million (about US$ 4.1billion), alongside concurrent RSF arrangements of SDR 1 billion (about US$1.4 billion). The enlarged enhanced ECF/EFF is aimed at restoring macroeconomic stability, promoting inclusive growth, and protecting the vulnerable. The RSF arrangement has secured fiscal space needed to build resilience against climate risks.

    Bangladesh’s macroeconomic challenges have increased since the popular uprising in the summer of 2024, which led to the ouster of the previous government. The timely formation of an interim government has helped stabilize political and security conditions, fostering a gradual return to economic stability. However, the economic outlook has worsened due to persistent political uncertainty, continuation of tighter policy mix, rising trade barriers, and increasing stress in the banking sector.

    Program performance for the third and fourth reviews remains broadly satisfactory despite the difficult political and economic context. The authorities are fully committed to implementing necessary policies under the program and have recently pressed forward with critical reforms to increase exchange rate flexibility and boost tax revenues.

    The authorities have consented to the publication of the Staff Report prepared for this consultation.[2]

    Executive Board Assessment[3]

    Following the Executive Board’s discussion, Mr. Nigel Clarke, Deputy Managing Director, and Acting Chair, made the following statement:

    “Bangladesh’s economy continues to navigate multiple macroeconomic challenges. Despite a difficult environment, program performance has remained broadly on track, and the authorities are committed to implementing necessary policy actions and reforms. The IMF-supported programs are helping safeguard macroeconomic stability and protect the most vulnerable, while accelerating reforms to support resilient and inclusive growth.

    “Near-term policies should prioritize rebuilding external resilience and reducing inflation. The authorities’ recent steps to implement a new exchange rate regime and include revenue-enhancing measures in the FY2026 budget are welcome. A balanced policy mix—anchored in maintaining a tight monetary policy stance, greater exchange rate flexibility, and revenue-based fiscal consolidation—will support efforts to restore both external and internal balances.

    “Efforts to raise tax revenues and rationalize expenditures—including through subsidy reduction—are critical for creating the fiscal space needed to strengthen social, development, and climate initiatives. Sustained progress in reducing government subsidies to a fiscally sustainable level, along with enhanced public financial management, is essential to improving spending efficiency and mitigating fiscal risks.

    “Financial sector policy should prioritize safeguarding stability and addressing rising vulnerabilities. Developing a comprehensive, sequenced strategy to guide reforms is an immediate priority, followed by the swift implementation of the new legal frameworks to enable orderly bank restructuring while protecting small depositors.

    “Sustained structural reforms are essential for Bangladesh to achieve its goal of attaining upper middle-income status. Key priorities include diversifying exports, attracting greater foreign direct investment, strengthening governance, and enhancing data quality.

    “Building resilience to natural disasters is essential for achieving high and inclusive growth. The RSF’s focus on strengthening institutions and policy coordination as well as on enhancing the efficiency of climate-related spending remains critical, including in helping mobilize climate finance.”

    Bangladesh: Selected Economic Indicators, FY2022-27 1/

     

    FY22

    FY23

    FY24

    FY25

    FY26

    FY27
                 
           

    Projections
                 
                 

    Real GDP

    7.1

    5.8

    4.2

    3.8

    5.4

    6.2

        Consumption

    		            

         Private

    7.5

    2.0

    6.0

    6.0

    5.4

    5.4

         Public

    6.2

    8.5

    9.8

    4.1

    -4.3

    16.1

    Gross Capital Formation

    11.7

    2.2

    3.3

    -0.1

    5.8

    6.8

         Private

    11.8

    2.9

    4.3

    0.3

    3.3

    5.2

         Public

    11.1

    0.0

    -0.2

    -1.3

    14.9

    11.9

    Trade

    		            

         Exports of goods and services

    29.4

    8.0

    -17.1

    5.2

    19.8

    12.7

         Imports of goods and services

    31.2

    -9.8

    -4.6

    5.8

    11.6

    11.9
                 

     

    Prices

    		            

       GDP deflator

    5.0

    6.9

    6.9

    10.3

    6.2

    6.5

       CPI inflation (annual average)

    6.1

    9.0

    9.7

    9.9

    6.2

    6.3

       CPI inflation (end of period)

    7.6

    9.7

    9.7

    8.3

    6.5

    5.9
                 
                 
                 

     

    Central government operations (in percent of GDP)

    Total revenue and grants

    8.9

    8.2

    8.3

    8.7

    9.5

    10.0

    Of which: Tax revenue

    8.0

    7.3

    7.4

    7.7

    8.6

    9.2

    Total expenditure

    13.0

    12.7

    12.1

    12.8

    13.5

    14.5

    Of which: Annual Development Program (ADP)

    4.7

    4.3

    3.8
                 

    Overall balance (including grants)

    -4.1

    -4.5

    -3.8

    -4.2

    -4.1

    -4.5

    (excluding grants)

    -4.2

    -4.6

    -3.9

    -4.3

    -4.1

    -4.6

    Primary balance (including grants)

    -2.1

    -2.5

    -1.5

    -2.0

    -2.0

    -2.2
                 

        Public sector total debt 2/

    37.9

    39.7

    41.0

    40.7

    41.8

    42.1

    Of which: External debt

    15.4

    17.5

    18.6

    18.6

    19.2

    18.6
                 
                 

     

    Balance of Payments (in percent of GDP)

    		            

         Current account balance

    -4.0

    -2.6

    -1.4

    -1.0

    -0.7

    -0.9

              Trade balance

    -8.0

    -4.7

    -5.9

    -5.9

    -5.1

    -5.3

        Capital account balance

    0.1

    0.1

    0.1

    0.1

    0.1

    0.1

        Financial account balance

    3.6

    1.5

    1.0

    1.1

    1.4

    1.7

                   Foreign direct investment, net

    0.4

    0.4

    0.4

    0.2

    0.5

    0.6

    Gross international reserves (billions of U.S. dollars)

    33.4

    24.8

    21.7

    23.6

    29.0

            in months of next year’s imports

    5.0

    4.1

    3.3

    3.2

    3.5

    3.7
                 

     

    Monetary and Credit (in percent of GDP)

    		            

    Reserve money

    8.7

    8.5

    8.2

    8.2

    8.9

    9.1

    Broad money (M2)

    52.9

    50.7

    48.4

    45.0

    45.5

    46.4

    Credit to private sector

    36.6

    35.3

    34.5

    32.0

    31.7

    32.2

    Credit to private sector (percent change)

    13.7

    9.1

    8.8

    6.2

    10.7

    14.8
                 

     

    Savings and Investment (in percent of GDP)

    		            

        Gross national savings

    29.3

    29.9

    28.3

    28.7

    28.8

    28.8

        Public

    1.2

    0.3

    0.5

    0.3

    1.4

    1.5

        Private

    28.2

    29.7

    27.9

    28.4

    27.4

    27.2
                 

         Gross investment

    32.0

    31.0

    30.7

    29.6

    29.5

    29.7

         Public

    7.5

    6.8

    6.7

    6.4

    7.0

    7.3

         Private

    24.5

    24.2

    24.0

    23.2

    22.5

    22.4
                 

     

    Memorandum item:

    		            

    Nominal GDP (in billions of taka)

    39,717

    44,908

    50,027

    57,246

    64,116

    72,509
                 

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

    1/ Fiscal year begins on July 1 and ends on June 30.

    2/ Includes central government’s gross debt, including debt owed to the IMF, plus domestic bank borrowing by nonfinancial public sector and public enterprises’ external borrowing supported by government guarantees, including short-term oil-related suppliers’ credits.

    [1] SDR figures for the disbursed are converted at the market rate of U.S. dollar per SDR on the day of the Board approval.

    [2] Under the IMF’s Articles of Agreement, publication of documents that pertain to member countries is voluntary and requires the member consent. The staff report will be shortly published on the www.imf.org/bangladesh page.

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

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Randa Elnagar

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

    https://www.imf.org/en/News/Articles/2025/06/23/pr-25213-bangladesh-imf-concludes-combined-3rd-and-4th-reviews-under-the-ecf-eff-and-rsf

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI USA: Former Chairman and CEO of Publicly Traded Health Care Company Sentenced to 42 Months in Prison for Insider Trading

    Source: US State of Vermont

    Sentence is the First Insider Trading Prosecution Based Exclusively on Use of Rule 10b5-1 Trading Plans

    The former CEO and chairman of the board of directors of Ontrak Inc., a Miami-based publicly traded health care company, was sentenced today to 42 months in prison for engaging in an insider trading scheme using Rule 10b5-1 stock trading plans to avoid losses of more than $12.5 million.

    Terren Scott Peizer, 65, a resident of Puerto Rico and Santa Monica, was sentenced by  U.S. District Judge Dale S. Fischer, who also ordered him to pay a fine of $5.25 million and forfeit more than $12.7 million in ill-gotten gains.

    “Terren Peizer betrayed the trust of Ontrak’s investors, trading on inside information to offload company stock before a substantial price decline,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division.  “Today’s just sentence reflects the Criminal Division’s hard work and commitment to prosecuting frauds that harm American investors. The Criminal Division will use the tools at its disposal to combat sophisticated frauds that exploit our securities markets.”

    “Insiders must not be allowed to put their thumbs on the scales of the stock market,” said U.S. Attorney Bill Essayli for the Central District of California. “Individuals who impugn the integrity of our markets can and will face prison time for their crimes.”

    In May 2021, Peizer entered into his first 10b5-1 trading plan shortly after learning that the relationship between Ontrak and its largest customer was deteriorating, and that the customer had expressed serious reservations about continuing its contract with Ontrak. Peizer later learned that the customer informed Ontrak of its intent to terminate the contract. In August 2021, Peizer entered into his second 10b5-1 trading plan minutes after Ontrak’s chief negotiator for the contract told Peizer that the contract likely would be terminated.

    In establishing his 10b5-1 plans, Peizer refused to engage in any “cooling-off” period — the time between when he entered into the plan and when he sold stock — despite warnings from two brokers, a senior Ontrak executive, and attorneys. Instead, Peizer began selling shares of Ontrak on the next trading day after establishing each plan. On Aug. 19, 2021, just six days after Peizer adopted his 10b5-1 plan, Ontrak announced that the customer had terminated its contract and Ontrak’s stock price declined by more than 44%.

    In June 2024, Peizer was found guilty after a 10 day jury trial of one count of securities fraud and two counts of insider trading. The case is part of a data-driven initiative led by the Criminal Division’s Fraud Section to identify executive abuses of 10b5-1 trading plans. 

    The FBI investigated the case. The Justice Department appreciates the substantial assistance of FINRA’s Criminal Prosecution Assistance Group.

    Trial Attorney Matthew Reilly of the Criminal Division’s Fraud Section and the U.S. Attorney’s Office for the Central District of California prosecuted the case. Assistant U.S. Attorney Jonathan Galatzan for the Central District of California assisted with the forfeiture proceedings.

    MIL OSI USA News –

  • MIL-OSI Security: Former Chairman and CEO of Publicly Traded Health Care Company Sentenced to 42 Months in Prison for Insider Trading

    Source: United States Attorneys General

    Sentence is the First Insider Trading Prosecution Based Exclusively on Use of Rule 10b5-1 Trading Plans

    The former CEO and chairman of the board of directors of Ontrak Inc., a Miami-based publicly traded health care company, was sentenced today to 42 months in prison for engaging in an insider trading scheme using Rule 10b5-1 stock trading plans to avoid losses of more than $12.5 million.

    Terren Scott Peizer, 65, a resident of Puerto Rico and Santa Monica, was sentenced by  U.S. District Judge Dale S. Fischer, who also ordered him to pay a fine of $5.25 million and forfeit more than $12.7 million in ill-gotten gains.

    “Terren Peizer betrayed the trust of Ontrak’s investors, trading on inside information to offload company stock before a substantial price decline,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division.  “Today’s just sentence reflects the Criminal Division’s hard work and commitment to prosecuting frauds that harm American investors. The Criminal Division will use the tools at its disposal to combat sophisticated frauds that exploit our securities markets.”

    “Insiders must not be allowed to put their thumbs on the scales of the stock market,” said U.S. Attorney Bill Essayli for the Central District of California. “Individuals who impugn the integrity of our markets can and will face prison time for their crimes.”

    In May 2021, Peizer entered into his first 10b5-1 trading plan shortly after learning that the relationship between Ontrak and its largest customer was deteriorating, and that the customer had expressed serious reservations about continuing its contract with Ontrak. Peizer later learned that the customer informed Ontrak of its intent to terminate the contract. In August 2021, Peizer entered into his second 10b5-1 trading plan minutes after Ontrak’s chief negotiator for the contract told Peizer that the contract likely would be terminated.

    In establishing his 10b5-1 plans, Peizer refused to engage in any “cooling-off” period — the time between when he entered into the plan and when he sold stock — despite warnings from two brokers, a senior Ontrak executive, and attorneys. Instead, Peizer began selling shares of Ontrak on the next trading day after establishing each plan. On Aug. 19, 2021, just six days after Peizer adopted his 10b5-1 plan, Ontrak announced that the customer had terminated its contract and Ontrak’s stock price declined by more than 44%.

    In June 2024, Peizer was found guilty after a 10 day jury trial of one count of securities fraud and two counts of insider trading. The case is part of a data-driven initiative led by the Criminal Division’s Fraud Section to identify executive abuses of 10b5-1 trading plans. 

    The FBI investigated the case. The Justice Department appreciates the substantial assistance of FINRA’s Criminal Prosecution Assistance Group.

    Trial Attorney Matthew Reilly of the Criminal Division’s Fraud Section and the U.S. Attorney’s Office for the Central District of California prosecuted the case. Assistant U.S. Attorney Jonathan Galatzan for the Central District of California assisted with the forfeiture proceedings.

    MIL Security OSI –

  • MIL-OSI Asia-Pac: Guangdong and Hong Kong jointly promote Modular Integrated Construction development (with photos)

    Source: Hong Kong Government special administrative region

    Guangdong and Hong Kong jointly promote Modular Integrated Construction development  
         The Building Technology Research Institute (BTRi), the Construction Industry Council (CIC), the MiC Laboratory of The University of Hong Kong, and the Guangdong-Hong Kong-Macao Modular Integrated Construction Industry Alliance (Alliance) are co-organisers of the MiC Week.
     
         Speaking at the launching ceremony, the Secretary for Development, Ms Bernadette Linn, said that the Hong Kong Special Administrative Region (HKSAR) Government has been actively promoting the adoption of MiC to enhance the productivity and cost-effectiveness of the construction industry. As of now, over 100 government and private projects have adopted this advanced construction method. She said that the HKSAR Government is implementing a series of measures to strengthen the supply chain of MiC, including the release of the Guangdong-Hong Kong Modular Integrated Construction Cross-boundary Trading Guidebook, the accreditation of MiC manufacturers, the announcement of the MiC Annual Demand Forecast and the enhancement of relevant training on MiC, as well as the research and development of new technologies. Among which, the DEVB plans to announce a new requirement for public works projects later this year to require MiC manufacturers to be accredited before bidding for tenders of relevant projects, with a view to streamlining the vetting and approval process and ensuring quality. She said that the Guangdong Province is the main manufacturing base for MiC modules in the Greater Bay Area (GBA), while Hong Kong possesses advantages in research and development as well as overseas promotion. The DEVB will continue to work closely with the Guangdong Provincial Government to build the GBA into a MiC technology and construction hub, and promote MiC to become a new quality productive force and a strategic industry that expands to the international arena.
     
         The Director-General of the DHURDGP, Mr Zhang Yong, said in his speech that high-quality and reliable MiC products from Guangdong have been gradually applied in various projects in Hong Kong including office buildings, school dormitories, public housing and private buildings, making positive contributions to the urban development and the security of people’s livelihoods in Hong Kong. From January to May this year, Guangdong exported MiC modules with a total value of about $1.39 billion to Hong Kong, a year-on-year increase of 2.3 times, demonstrating strong technical and supply capabilities. Building on the development of a supply chain that fully supports Hong Kong, Guangdong has also progressively developed application scenarios such as schools, hospitals and talent accommodation, and explored MiC technology innovations for projects including super-high-rise buildings and in-situ redevelopment, advancing pilot modular projects for urban development.
     
         The unveiling ceremony of the Alliance was also held during the launching ceremony. With membership comprising industry associations, higher education institutions, research institutes, enterprises, experts and scholars from Guangdong, Hong Kong and Macao, the Alliance aims to promote the development of MiC in the GBA, aligning with the national strategies of high-quality development and green building.
     
         In addition, the Guangdong-Hong Kong Modular Integrated Construction Cross-boundary Trading Guidebook compiled by the DEVB was also released at the launching ceremony. The guidebook provides manufacturers with guidelines on application for bonded processing trade arrangements for MiC materials and cross-boundary tax declarations for exporting MiC modules to Hong Kong, enabling all parties in the MiC supply chain in the GBA to conduct MiC cross-boundary trade more conveniently and efficiently.
     
         The Chairperson of the BTRi, Mr Hon Chi-keung, also presented accreditation certificates to the first batch of eight manufacturers accredited under the MiC Manufacturer Accreditation Scheme 
         The Chairman of the CIC, Professor Thomas Ho, also announced the first     MiC Annual Demand Forecast 
         The launching ceremony attracted over 1 000 participants who took part both online and offline. Other activities of the MiC Week include International Conference on Modular Integrated Construction, an enterprise forum, a design workshop, a site visit to a MiC project, a guided tour for public and more. Details are available on its     websiteIssued at HKT 22:48

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Africa: Food and Agriculture Organization of the United Nations (FAO) and International Plant Protection Convention (IPPC) launch second phase of the Africa Phytosanitary Programme

    The Food and Agriculture Organization of the United Nations (FAO) and the International Plant Protection Convention (IPPC), in collaboration with the Government of South Africa, represented by the Department of Agriculture, launched the second phase of the Africa Phytosanitary Programme (APP) today – representing a major effort to stop the spread of plant pests and diseases in Africa using cutting-edge digital tools.

    The launch event was hosted by the Government of South Africa and brought together over 50 phytosanitary specialists from nine countries: Algeria, Cape Verde, Chad, the Republic of Congo, Liberia, Malawi, Senegal, South Africa and Tunisia. They will participate in a weeklong Train-the-Trainer (ToT) workshop in advanced pest surveillance techniques, including the use of customised digital tools and applications for monitoring, detecting and reporting major pests of economic, regulatory and environmental importance in Africa. Participants will receive state-of-the-art tablets for geospatial pest surveillance, use field survey protocols developed by technical experts, and undertake practical sessions using the pest survey tools.

    “Africa stands at a turning point. With immense biodiversity, rising agricultural productivity, and growing opportunities under the African Continental Free Trade Area (AfCFTA), we are well-positioned to become a global leader in the trade of high-quality plant products. But this vision can only be achieved if we ensure that the movement of plants and plant products is safe, traceable, and fully compliant with international phytosanitary standards” said John Henry Steenhuisen, Honourable Minister of Agriculture, in South Africa, in remarks read on his behalf by Jan Hendrik Venter, South Africa’s Director of Plant Health.

    “Well-trained, well-equipped plant health officials across the continent are our best line of defence in maintaining pest-free or low-prevalence status, an essential condition for accessing these lucrative markets”, he added.

    The first and pilot phase of APP started in 2023, engaging phytosanitary specialists from Cameroon, Democratic Republic of Congo, Egypt, Guinea-Bissau, Kenya, Mali, Morocco, Sierra Leone, Uganda, Zambia and Zimbabwe. Phase 2 builds on achievements made in the pilot phase and aims to train plant health officers, who upon their return to their countries will teach their peers in the national plant protection organisations (NPPOs) and other government stakeholders on the use of the APP suite of digital tools.

    “We are building a critical mass of phytosanitary inspectors, technicians and officers across Africa by equipping plant health officers with the tools and skills to prevent and address major plant pest threats, that ultimately jeopardize food security, agricultural trade, economic growth and the environment”, said Beth Bechdol, FAO Deputy Director-General and Officer-in-Charge of the IPPC, in her video message.

    Funded through generous contributions from the European Union and the United Kingdom of Great Britain and Northern Ireland, APP phase two builds on support from the United States Department of Agriculture (USDA), Animal and Plant Health Inspection Service (APHIS) which funded phase one in 2023. FAO and the IPPC are working to replicate and scale up the benefits from APP to more African countries and other regions. 

    Mitigating the pest problem in Africa

    Worldwide, plant pests destroy about 40 percent of crop yields, resulting in approximately USD 220 billion in economic losses[1]. In Africa, the impacts of climate change are worsening  the problem, with invasive pests – such as, fruit flies, false codling moth, maize lethal necrosis disease, citrus greening and fall armyworm – causing major damages. Fall armyworm alone is estimated to cause the highest yield loss in Africa – USD 9.4 billion annually –, based on data from the Centre for Agriculture and Bioscience International (CABI). 

    The African Union’s Plant Health Strategy for Africa highlights that limited technical capability remains a key barrier to achieving sustainable agriculture on the continent. Through APP, FAO, the IPPC and partners aim to strengthen plant health systems and build national phytosanitary capacity across Africa.

    Distributed by APO Group on behalf of Food and Agriculture Organization of the United Nations (FAO): Regional Office for Africa.

    MIL OSI Africa –

  • MIL-OSI Canada: Planning summer travels? The CBSA gives tips for a smooth trip into Canada

    Source: Government of Canada News (2)

    June 23, 2025
    Ottawa, Ontario

    The Canada Border Services Agency (CBSA) reminds travellers to plan ahead when crossing the border this summer.

    Every day, the CBSA works hard to protect Canadians, support the economy and ensure the safe and efficient movement of people and goods across the border. In 2024, we welcomed over 93.4 million travellers, stopped over 34,400 kg of illegal drugs from entering our communities and kept more than 17,200 weapons and 930 firearms off our streets.

    The CBSA plans and prepares for long weekends and summer travel. We monitor traveller volumes and prioritize efficient processing of travellers at land ports of entry and at international airports, without compromising safety and security. If you encounter wait times at the border, it is likely because we are working behind the scenes to conduct examinations, seize drugs, firearms or stolen vehicles, or prevent high-risk individuals from entering Canada.

    Here are some travel tips to help you plan for your trip:

    • Have your travel documents  readily available to present to an officer. This will speed up processing times at the border.
    • Be prepared to declare. Declare everything you have with you upon entry into Canada. If you arrive by land, you are responsible for everything inside your vehicle.
      • Goods purchased abroad: If you are a resident of Canada, personal exemptions allow you to bring goods, including alcohol and tobacco up to a certain value, back to Canada without paying regular duty and taxes. Make sure you know the value of goods you are bringing back in Canadian dollars and have your receipts available for the officer.
      • Surtaxes on certain U.S. goods. If you’ve purchased goods in the U.S. and are bringing them into Canada, you may have to pay a 25% surtax in addition to regular duties and taxes. For residents of Canada, this surtax applies only to goods exceeding your personal exemptions limit. Consult the lists of products surtaxed: complete lists of goods subject to the surtax. Visit the CBSA website for more details on how these surtaxes apply at the border. 
    • Flying into Canada? Use Advance Declaration and make your customs declaration up to 72 hours in advance of your arrival into Canada at participating airports.
    • Driving into Canada? Check border wait times to plan your route.
      • Early mornings are the best time to cross the border to avoid wait times.
      • The Monday of holiday long weekends tend to be the busiest.
      • Consider an alternative port of entry with shorter wait times or less traffic.
      • Check the port of entry’s hours of operation on the official CBSA Directory of Offices and Services.
      • If you are using a GPS application (such as Google Maps, Apple Maps or Waze) to direct you to a port of entry, consider checking different navigation options (such as fastest and shortest routes) to determine the preferred route of travel.
    • Entering Canada by boat? If you are planning to travel in or near Canadian waters, or enter Canada by boat, you should review Reporting requirements for private boat operators before making travel plans. All travellers entering Canada by boat must report to the CBSA without delay.
    • When travelling with children who are not your own or for whom you don’t have full legal custody, we recommend you have a consent letter from the parent or legal guardian authorizing you to travel with the child. We are always watching for missing children, and in the absence of the letter, officers may ask additional questions.
    • Bringing fireworks into Canada? Consult Importing, exporting and transporting fireworks to ensure that the ones you are bringing in are authorized.
    • If you are planning on camping in Canada, note that bringing in firewood from outside of Canada is not permitted as invasive insects and diseases may be present within the wood. Help protect our forests; buy local and burn local.
    • Know before you go: review the restricted and prohibited goods to avoid the possibility of penalties, including fines, seizure or prosecution. Make sure you have the information you need before attempting to bring items into Canada.
    • Leave behind: firearms, weapons, narcotics, and cannabis.

    We encourage you to read and follow all of our travel tips before arriving at the border.

    Not sure? Ask a CBSA officer. The best way to save time is to be open and honest with the border services officer. If you are not sure about what to declare, don’t hesitate to ask!

    For more information, visit the CBSA website or call us at 1-800-461-9999.

    MIL OSI Canada News –

  • MIL-OSI USA: Letlow Files Bill Directing Tariff Revenue to Farmers

    Source: United States House of Representatives – Congresswoman Julia Letlow (LA-05)

    WASHINGTON, D.C. –  Congresswoman Julia Letlow has filed legislation to support American agricultural producers impacted by disruptions to the global trade market.

    The bill would create a dedicated fund, administered by the Secretary of Agriculture, to provide a timely and targeted safety net for American farmers and producers. The Tariff Responses and Damages to Exports (TRADE) fund would equip the Trump Administration to respond swiftly to trade-related agricultural losses, allowing the President to deposit revenue from tariffs on foreign agricultural products directly into an account used to offset related losses suffered by American producers.

    “As President Trump works to fix unfair trade practices, I’m moving to make sure our farmers receive the support they need,” said Congresswoman Julia Letlow. “This bill would dedicate money collected from tariffs on foreign ag products to American farmers. Our farmers are the lifeblood of Louisiana and our nation, and I’ll have their back every step of the way as President Trump works to create a level playing field with our trading partners.”

    The fund could compensate agricultural producers affected by market changes as measured by a decrease in exports, increasing input costs, and tariffs and other trade barriers imposed by foreign countries.

    To learn more about Congresswoman Letlow’s focus on agriculture issues on behalf of Louisiana’s 5th District, click here.

    MIL OSI USA News –

  • MIL-OSI Canada: Joint Statement: Enduring Partnership, Ambitious Agenda

    Source: Government of Canada – Prime Minister

    1. Today marks a historic milestone as we, the leaders of the European Union and Canada, met to renew our enduring commitment and take a pivotal step to further reinforce the strategic partnership between the European Union and Canada. Our strong partnership is deeply rooted in trust and common values and shaped by a shared history of human connection and robust economic ties. Most importantly, our partnership is grounded in the core values we share: democracy, human rights, the rule of law, and open, rules-based markets. In a rapidly changing world marked by geopolitical uncertainty, shifting economic dynamics, and the accelerating impacts of climate change, this partnership is more important than ever.
       
    2. We stand united in our objective to forge a new ambitious and comprehensive partnership that responds to the needs of today and will evolve to meet the challenges and opportunities of the future. This marks the beginning of a long-term effort that will help us promote shared prosperity, democratic values, peace and security. To do this, we have decided to further build on existing ties and launch a process that will move Canada and the EU closer together and that lays out immediate and long-term actions outlined in an ambitious agenda at the end of this document. We also agreed today on an EU-Canada Security and Defence Partnership.
       
    3. Our citizens are looking for responses to the unprecedented challenges we face. This is why it is more important than ever to work together to promote our shared values and the rules-based international order. We will also pursue our common interests, while continuing to promote and deepen our vibrant trade and investment relationship, and our strong people-to-people contacts. We will stand together even more firmly in support of peace, stability, and prosperity in the world, including in Ukraine, the Middle East and the Indo-Pacific.
       
    4. We confirm our unwavering commitment to the rules-based international order with the United Nations and its charter at its core. The EU and Canada will continue to cooperate closely in promoting international peace and security. Our commitment to sustainable development remains a key pillar of our relationship. We will continue to be key partners in promoting democracy, human rights and fundamental freedoms, gender equality and the rule of law globally. We will take further action to ensure respect for the rights of women and girls, and to end to all forms of discrimination, including against LGBTI persons. We will continue supporting the implementation of the UN Pact for the Future and the ambitious reforms sought under the UN80 Initiative. We reaffirm our steadfast support for the independent functioning of the international criminal justice system, particularly the International Criminal Court. We condemn threats to the independent functioning of the ICC, including measures against individual officials.
       
    5. We are determined to continue working together in responding to the growing challenges to the international economic and trade order. We reiterate our mutual commitment to sustainable, fair and open trade, grounded in the rule of law and in respect for internationally agreed trade rules, as embodied by the World Trade Organization. This is essential to maintain global economic stability and to safeguard our supply chain resilience.
       
    6. We reaffirm our resolute condemnation of Russia’s war of aggression against Ukraine, which constitutes a manifest violation of the UN Charter and international law. Our commitment to ensuring a comprehensive, just and lasting peace in Ukraine that respects Ukraine’s sovereignty and territorial integrity within its internationally recognized borders is unshakeable. We reaffirm our unwavering commitment to providing continued political, financial, economic, humanitarian, military and diplomatic support to Ukraine and its people for as long as it takes and as intensely as needed, in full respect of the security and defence policy of certain EU Member States and taking into account the security and defence interests of all EU Member States. We support the conclusion of a just and lasting peace agreement, in full compliance with the principles of the UN Charter and international law, and join the call for a full, unconditional ceasefire of at least 30 days, which Ukraine has unilaterally committed to. We will continue to support the International Coalition for the Return of Ukrainian Children co-chaired by Ukraine and Canada, and we reiterate our urgent call on Russia and Belarus to immediately ensure the safe return of all unlawfully deported and transferred Ukrainian children. We will continue our close coordination of efforts to provide military equipment and training to the Ukrainian Armed Forces —including through the work of the EU Military Assistance Mission (EUMAM Ukraine) and Operation UNIFIER.
       
    7. We will increase pressure on Russia, including through further sanctions and taking measures to prevent their circumvention, and by ensuring that Russian sovereign assets remain immobilized until Russia ceases its war of aggression against Ukraine and compensates it for the damage caused by this war. We are committed to ensuring full accountability for war crimes and other serious crimes committed in connection with Russia’s war of aggression, including by the establishment of a Special Tribunal for the Crime of Aggression against Ukraine. We also remain committed to supporting Ukraine’s repair, recovery and reconstruction including through the Ukraine Donor Platform and in-country coordination mechanisms. We welcome Canada’s continued support, through the extension of an expert deployment to the Ukraine Donor Platform. The Ukraine Recovery Conference in Rome in July 2025 will be particularly relevant in that context.[1]
       
    8. We also reaffirm our continued support for the Republic of Moldova’s sovereignty and territorial integrity, enhancing the country’s resilience in dealing with the consequences of Russia’s war of aggression against Ukraine and the hybrid activities by Russia to undermine Moldova, in particular in the run-up to the Parliamentary elections. 
       
    9. In relation to the situation and latest developments in the Middle East, we reaffirm our commitment to an immediate and permanent ceasefire in Gaza, the release of all hostages, and the resumption of unimpeded humanitarian aid at scale into Gaza in line with humanitarian principles, in order to address the catastrophic humanitarian situation on the ground. We reiterate our strong condemnation of the escalation in the West Bank, including East Jerusalem, following increased settler violence, the expansion of settlements, which are illegal under international law, and Israel’s military operation. We emphasize the importance of pursuing a lasting and sustainable peace based on the implementation of the two-state solution. We see no role for Hamas in the future governance of Gaza. 
       
    10. We express our deepest concern at the dangerous escalation following Israeli strikes on Iran, and Iran’s response. We reiterate our strong commitment to peace and stability in the Middle East, including the security of Israel, and call on all sides to show restraint and abide by international law. We have been consistently clear that Iran can never have a nuclear weapon. A diplomatic solution remains the best way to address concerns over Iran’s nuclear program. The EU and Canada stand ready to contribute to a negotiated deal, which imposes verifiable constraints on Iran’s nuclear program, with the International Atomic Energy Agency in charge of monitoring and verification. We also remain committed to addressing Iran’s destabilizing behaviour, including its nuclear proliferation risks, military support for Russia’s war of aggression in Ukraine, backing of regional armed groups, transnational repression, and systematic human rights violations.
       
    11. Security in the Euro-Atlantic and Indo-Pacific regions is increasingly interconnected. We reaffirm our shared interest in maintaining peace and stability in the Indo-Pacific, including in the East and South China Seas and across the Taiwan Strait. We will continue working with regional partners, including ASEAN, to uphold a free, open and secure Indo-Pacific region based on international law. We continue to be deeply concerned by DPRK’s ongoing nuclear weapons and ballistic missile programs and condemn Russia-DPRK military cooperation, which violates UN Security Council resolutions and undermines international security.
       
    12. We will continue deepening our cooperation and dialogue, together with partners from around the world, to address key regional issues, in particular in relation to the broader Middle East – notably Lebanon and Syria. We will also continue engaging with each other on issues related to Africa, and Latin America and the Caribbean, including Haiti. We will stay engaged in fragile and conflict-affected countries, facing instability or in complex settings, to support populations, in particular the most vulnerable.
       
    13. The Arctic will remain an area of close collaboration to foster peace and security, stability, and sustainable economic development, in particular of the blue economy, in full respect of the interests, priorities and rights of Indigenous Peoples in line with the United Nations Declaration on the Rights of Indigenous Peoples.
       
    14. The EU and Canada will continue to be reliable and responsible partners. We reiterate our steadfast commitment to advancing global sustainable development, working with partners across the globe. We are determined to deliver on the 2030 Agenda and its Sustainable Development Goals, together with international partners and in multilateral fora. We look forward to the upcoming 4th International Conference on financing for Development (FfD4), which will take place in Seville from 30 June to 3 July 2025. We will continue to deepen our cooperation and dialogue on humanitarian aid, including on respect for International Humanitarian Law and response to humanitarian crises.
       
    15. We recognize the existential threat of the interdependent crises of climate change, biodiversity loss, land degradation and pollution. The EU-Canada Green Alliance is our steadfast, joint commitment to ambitious environment and climate action on the global stage. Carbon pricing, carbon removal and industrial decarbonization are key to reaching net-zero and decarbonization goals, while a high integrity carbon market can contribute to enhancing the global ambition. The EU is a dedicated participant in Canada’s Global Carbon Pricing Challenge (GCPC). At COP30, the EU and Canada aim to further promote carbon pricing as a tool to combat climate change, foster innovation and to modernize our industries. COP30 will also be an opportunity to highlight the importance of decarbonizing the transport sector and to promote sustainable transportation solutions. We reiterate our commitment to the swift and full implementation of the goals and targets of the Kunming-Montreal Global Biodiversity Framework, including through the Nature Champions Network.
       
    16. We agree that the Strategic Partnership Agreement (SPA) and the Canada-EU Comprehensive Economic and Trade Agreement (CETA) are at the core of the EU-Canada relationship. Through these agreements we are developing and deepening our partnership continuously in response to an evolving global context. We will continue to ensure their effective implementation and remain committed to achieving their full ratification. The SPA and CETA have allowed us to boost our cooperation over the past eight years.
       
    17. We are committed to further enhancing our EU-Canada trade and investment relationship, to advance and diversify our trade, promote our economic security and resilience, create investment opportunities and ensure our long-term security and prosperity. Our relationship is underpinned by CETA and its benefits are clear: bilateral trade has increased by over 65% compared to pre-CETA levels. We welcome the efforts being made to remove barriers to interprovincial trade in Canada and reduce barriers within the EU Single Market as they will further ease trading and doing business for our companies.
       
    18. Ensuring reliable and sustainable supply chains is a mutual priority and we have a shared interest in diversifying our supply chains and strategic investment. We will foster a closer cooperation on targeted industrial matters driving global competitiveness and strategic autonomy, such as artificial intelligence, quantum technologies, space, cyberspace, aeronautics, biotechnologies, new energies, minerals and critical metals, advanced manufacturing and cleantech. We intend to maintain a secure transatlantic supply chain on key technologies such as artificial intelligence (AI), supercomputers and semiconductors. We welcome the recent announcement of a Canadian strategic nickel project under the EU Critical Raw Materials Act and will work to identify opportunities for co-investment in projects of mutual interest. We welcome the G7 Global Critical Minerals Action Plan agreed under Canada’s Presidency.
       
    19. We also remain committed to pursuing mutually beneficial collaboration on digital and tech policy issues and bolstering the bilateral digital trade relationship. Through the Canada-EU Digital Partnership, we are already working hand in hand on concrete projects in crucial areas for a robust digital economy, such as research in cutting-edge technologies, and we look forward to Canada hosting the first EU-Canada Digital Partnership Council later this year. We intend to enhance cooperation on AI innovation, including collaboration on AI Factories, to link our high-performance computing infrastructure and to deepen research cooperation in strategic technology areas such as AI and quantum. We also intend to align our frameworks and standards in the regulatory field, to make online platforms safer and more inclusive, to develop trustworthy AI systems and to establish interoperable digital identities and digital credentials to facilitate interactions between our citizens and our businesses.
       
    20. We have agreed today an EU-Canada Security and Defence Partnership, which provides a coherent, high-level political framework for our joint efforts in this field and will strengthen and widen the scope of cooperation and dialogue between the EU and Canada. We remain committed to continuing our strong cooperation, notably through Canada’s contributions to EU missions and operations, and welcome possible further collaboration on crisis management in the future. Canada will strengthen its defence relationship with the EU by posting a defence representative to the EU. We underscore the value of Canada’s participation in the EU’s Permanent Structured Cooperation (PESCO) projects and look forward to pursuing additional initiatives within this framework. In line with our shared security interests, we attach particular importance to collaboration on defence. For Canada and those EU Member States who are NATO Allies, NATO remains the cornerstone of their collective defence. Our aim will be to help deliver on our capability targets, including through our defence industries, more quickly and economically and with enhanced interoperability in ways that deliver mutual benefit and reinforce the European contribution to NATO. All of the above is without prejudice to the specific character of the security and defence policy of certain EU Member States, and taking into account the security and defence interests of all Member States, in accordance with the EU Treaties. We appreciate Canada’s continued commitment to European security, which includes the largest deployment of Canadian Armed Forces overseas.
       
    21. Recognizing the importance of the Women, Peace and Security as well as the Youth, Peace and Security agendas, we will continue supporting the full, equal and meaningful participation of women and youth in conflict prevention, mediation, resolution, peacekeeping, peacebuilding, and post-conflict reconstruction. We recognize that an enabling environment, is fundamental to ensuring the safe participation of women, and remain committed to fostering such environments. We will ensure that Women, Peace and Security is integrated in all aspects of cooperation on security and defence. Gender equality is a shared political and security priority, and we will collaborate to counter setbacks against gender equality and the rights of women and girls.
       
    22. To ensure comprehensive and sustainable progress, Canada and EU senior officials will meet at regular intervals to review progress and identify opportunities to deepen cooperation, in line with existing CETA and SPA consultation mechanisms, and in view of the next EU-Canada Summit. 

    Annex – The New EU-Canada Strategic Partnership of the Future 

    Together, we will: 

    Increase trade flows and promote economic security 

    • Support businesses to grow and diversify markets by fully and effectively implementing CETA.
    • Modernize our approach to trade by launching work towards a Digital Trade Agreement that would complement CETA.
    • Create tools for businesses to better support trade diversification, such as facilitating B2B matchmaking, cluster-to-cluster cooperation, and supporting the internationalization of small and medium-sized enterprises (SMEs).
    • Advance our collaboration in the EU-Canada Economic Security Dialogue. Political and technical exchanges will allow us to identify trends and risks of mutual concern that could affect our economic security, and cooperation on possible policy responses.
    • Reduce barriers and strengthen agriculture and agrifood trade.
    • Prepare ourselves for the energy needs of the future, by cooperating more closely and exploring options to work together on more resilient, diversified, reliable energy supply chains, including clean tech value chains, LNG, renewables, safe and sustainable low-carbon hydrogen and other safe and sustainable low-carbon technologies, in view of increasing bilateral trade and strengthening energy security.
    • Continue the existing cooperation on nuclear technologies, including fuels and fuel cycle services, through the negotiation of a modernized and comprehensive Canada-Euratom Nuclear Cooperation Agreement.
    • Strengthen labour mobility by facilitating the movement of highly skilled workers, and explore shared interests in exchanging information about immigration partnerships. 

    Foster competitiveness and resilience through strengthened cooperation in strategic value chains 

    • Launch a new EU-Canada Industrial Policy Dialogue to boost industrial and supply chain cooperation in strategic sectors.
    • Promote projects and investments that reduce supply chain risks and foster resilience and the competitiveness of our industries and critical goods (e.g. semiconductors), including by promoting projects that abide by environmental, social and governance standards.
    • Work together closely to ensure security and diversity in the supply of minerals and metals critical to our mutual security and the green and digital transitions, including by exploring new opportunities to facilitate the two-way flow of investment, materials and expertise through the EU-Canada Strategic Partnership on Raw Materials.
    • Complete the negotiations for a renewed Canada-EU Competition Cooperation Agreement, providing a legal framework to coordinate enforcement activities and share information obtained through investigative powers in full respect of data privacy guarantees in both jurisdictions, as soon as possible. 

    Deepen regulatory alignment 

    • Identify opportunities for increased regulatory alignment between Canada and the EU, including through advancing work under CETA’s Protocol on the Mutual Acceptance of the Results of Conformity Assessment.
    • Bolster formal consultative mechanisms on EU and Canadian legislation and regulations, including CETA’s Regulatory Cooperation Forum. 

    Increase transatlantic security through a new era of EU-Canada security and defence cooperation, including the full implementation of the EU-Canada Security and Defence Partnership 

    • Bolster our bilateral dialogue and operational cooperation in all areas of joint interest in support of peace, security and defence – such as maritime security, cyber issues and hybrid threats.
    • Advance cooperation on the climate-security nexus and expand joint efforts in maritime security by identifying opportunities for coordinated naval activities.
    • Expand cooperation on defence capabilities, in particular by creating opportunities for increased defence industrial cooperation.
    • Secure and protect our democratic institutions by preventing and countering foreign information manipulation and interference (FIMI) through increased cooperation through relevant EU, Canadian and multilateral initiatives, such as the Canada-hosted G7 Rapid Response Mechanism.
    • Consider Canada’s further participation in EU Permanent Structured Cooperation (PESCO) projects, with an aim towards joint development of capabilities and greater interoperability.
    • Increase defence procurement cooperation through Canadian collaboration with ReArm Europe/Readiness 2030:
      • launch work towards a bilateral agreement related to the Security Action for Europe (SAFE) instrument
      • explore the possibility of establishing an administrative arrangement between Canada and the European Defence Agency 

    Shape the digital transition and promote exchanges in education and on innovation for technologies of the future 

    • Deepen cooperation in the framework of the EU-Canada Digital Partnership, and hold the first EU-Canada Digital Partnership Council later this year to drive this process forward.
    • Advance cooperation on AI, cybersecurity, secure digital communication and advanced connectivity, secure and trusted communications infrastructure (including 5G and subsea cables), the transparency and resilience of global tech supply chains, digital identity, quantum science, data spaces, online platforms and fighting FIMI.
    • Advance regulatory cooperation under the Digital Partnership, notably in AI and cybersecurity, so as to work towards the mutual recognition of AI and cybersecurity product certification including under the CETA Protocol on Conformity Assessment.
    • Deepen collaboration by leveraging Canada’s association to Horizon Europe, including on high priority topics, and exploring its potential participation in EU’s 10th Framework Programme.
    • Expand cooperation for access to world-class high-performance computing infrastructure through Horizon Europe.
    • Support research and industrial collaboration in research security, artificial intelligence, semiconductors, quantum sciences, cyber security, climate change, oceans, circular economy, polar research and researcher mobility and training, including through the Canada-EU Digital Partnership and under the EU-Canada Science and Technology Cooperation Agreement.
    • Promote and defend the freedom of academic and scientific research and the protection of scientists.
    • Increase people to people ties, improve mobility and recognition, including in higher education and research through Erasmus+, the European Research Council and the Marie Skłodowska-Curie actions. 

    Fight climate change and environmental degradation and facilitate the transition to climate neutrality 

    • Support for carbon pricing and industrial decarbonization as priority cooperation areas to combat climate change.
    • Bolster competitiveness through cooperation on carbon pricing systems and carbon border measures.
    • Work with international partners to promote the full, swift and effective implementation of the goals and targets of the Kunming-Montreal Global Biodiversity Framework.
    • Collaborate to achieve an internationally legally binding instrument on plastic pollution covering the full lifecycle of plastics at INC 5.2.
    • Collaborate on the implementation of the Just Energy Transition Partnerships.
    • Jointly call for ambitious action to implement the Paris Agreement, in line with efforts to keep the 1.5°C warming goal within reach.
    • Continue working with other international partners to promote relevant international instruments to combatting climate change, biodiversity loss, and pollution.
    • Welcome Canada joining the Global Energy Transition Forum launched by the European Commission to deliver on the goals of tripling the world’s renewable energy capacity and doubling the global annual rate of energy efficiency improvement by 2030 in parallel to a transition away from fossil fuels in energy systems.
    • Work together as co-conveners of the Global Methane Pledge to deliver on the goal of reducing global methane emissions by at least 30% from 2020 levels by 2030.
    • Advance cooperation on the climate–security nexus by exploring a Climate-Security Dialogue. 

    Crisis management 

    • Advance public and private investments, notably in sustainable, inclusive, resilient and quality infrastructure, including through our shared G7 commitment under the Partnership for Global Infrastructure Investment and the EU’s Global Gateway strategy. At the same time, we recognize that investments in human development are a key enabling factor for just and sustainable digital and green transitions.
    • Strengthen cooperation on international crisis response and enhance cooperation on emergency management with the signing of an Administrative Arrangement between the Department of Foreign Affairs, Trade and Development of Canada and the European External Action Service on international cooperation in emergency planning and crisis response.
    • Respond more effectively to humanitarian crises and explore the possibility of a humanitarian administrative arrangement to align priorities and facilitate coordination.
    • Build health security and resilience through enhanced partnerships, including an administrative arrangement on medical countermeasures.
    • Building on the sale of 22 Canadian-built DHC-515 water bombers to the EU and Member States, explore further opportunities to share mutually beneficial technology and expertise in combating disasters. 

    Justice and Home Affairs 

    • Explore cooperation between Eurojust, the European Public Prosecutor’s Office and the Canadian authorities in the field of criminal justice.
    • Advance the implementation, ratification and entry into force of the-EU-Canada Passenger Name Record Agreement.

    [1]We note the reservations of one Member State regarding the strategic direction of certain EU policies towards Ukraine.

    MIL OSI Canada News –

  • MIL-OSI: Pocket Knife Software Launches ANNIE AI Trading Platform to Public After Years of Private Development

    Source: GlobeNewswire (MIL-OSI)

    Austin, TX , June 23, 2025 (GLOBE NEWSWIRE) — Pocket Knife Software, Inc. has announced the public launch of ANNIE, its proprietary AI-powered stock trading platform, after nearly a decade of private development and real-world testing. The system, originally built for personal use, is now available to independent investors via subscription at AI-StockTrading.com.

    Rick Cockerham, Founder of Pocket Knife Software

    Unlike traditional predictive models, ANNIE employs a hybrid of neural networks and genetic algorithms to evolve trading strategies based solely on real-world performance, leveraging real-world trading data since April 2024. The AI reviews over 1,200 U.S. equities daily and generates trade recommendations designed for consistency rather than speculation. Recent iterations of ANNIE have demonstrated performance levels approximately twice as strong as earlier versions, according to Pocket Knife Software’s internal data.

    “ANNIE isn’t trying to guess where the market is going tomorrow,” said Rick Cockerham, creator of ANNIE and founder of Pocket Knife Software. “It’s designed to make sound trading decisions based on what works, using evolved strategies that continuously adapt to changing market conditions”.

    And when ANNIE gives out recommendations, they’re exactly that. Because ANNIE delivers trade ideas – not automated trades – users stay in control of their money, their account, and their decisions.

    Originally conceived while Cockerham was studying AI at Iowa State University in the 1990s, ANNIE has undergone years of iteration. These iterations led him to make ANNIE available to other independent investors seeking an alternative to traditional financial services.

    The subscription service delivers daily buy and sell signals through email or text message approximately one hour before market close. Subscribers maintain full control over their investment accounts, allowing them to manually execute trades based on ANNIE’s recommendations. The platform also includes portfolio tracking and risk management signals such as stop-loss alerts.

    “Most AI stock pickers rely on predictive models that can’t consistently outperform the market,” said Rick. “ANNIE is different because it evolves – discarding what doesn’t work and refining what does through live market results. That evolutionary engine is what sets ANNIE apart”.

    ANNIE’s public release comes at a time when individual investors face mounting challenges competing against institutional capital and increasingly complex markets. Cockerham emphasizes that the platform is designed for serious, self-directed investors seeking a transparent and disciplined system that complements their own trading decisions.

    About Pocket Knife Software

    Founded by Rick Cockerham, Pocket Knife Software develops AI-powered financial tools for independent investors. The company’s flagship product, ANNIE, combines neural networks and genetic algorithms to evolve trading strategies based on real-world market performance. Operating from Austin, Texas, Pocket Knife Software is committed to making hedge-fund-grade technology accessible to self-directed investors. Learn more at AI-StockTrading.com.

    Press inquiries

    Pocket Knife Software
    https://www.ai-stocktrading.com/
    Rick Cockerham
    rick@pocketknifesoftware.com

    The MIL Network –

  • MIL-OSI Canada: Investor Alert: Quantum Ai, Galaxy Trading Analytics (GTA), Rapliplen and London Group Are Not Registered

    Source: Government of Canada regional news

    Released on June 23, 2025

    The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online entities known as Quantum Ai, Galaxy Trading Analytics (GTA), Rapliplen and London Group.

    “The FCAA recommends Saskatchewan residents to always check an entity’s registration status at aretheyregistered.ca before making an investment,” FCAA Securities Division Executive Director Dean Murrison said. “This is an easy way to protect yourself and keep your investments safe.”

    These entities claim to offer Saskatchewan residents the following trading opportunities:

    • Quantum Ai: cryptocurrencies and contracts for differences (CFDs).
    • Galaxy Trading Analytics: cryptocurrencies, forex and commodities.
    • Raliplen: stocks, commodities, cryptocurrencies and non-fungible tokens (NFTs).
    • London Group: commodities in the form of precious metals traded as futures or option contracts, as well as exchange traded funds (ETFs).

    This alert applies to the online entities using “quantum-ai ca”, “gtatrade com”, “raliplen com” and “londongrp com” (these URLs have been manually altered so as not to be interactive).

    Quantum Ai, Galaxy Trading Analytics (GTA), Rapliplen and London Group are not registered with the FCAA to trade or sell securities or derivatives in Saskatchewan. The FCAA cautions investors and consumers not to send money to companies that are not registered in Saskatchewan, as they may not be legitimate businesses. 

    If you have invested with Quantum Ai, Galaxy Trading Analytics (GTA), Rapliplen, London Group or anyone claiming to be acting on their behalf, contact the FCAA’s Securities Division at 306-787-5936.

    In Saskatchewan, individuals or companies need to be registered with the FCAA to trade or sell securities or derivatives. The registration provisions of The Securities Act, 1988, and accompanying regulations are intended to ensure that only honest and knowledgeable people are registered to sell securities and derivatives and that their businesses are financially stable.

    Tips to protect yourself:

    • Always verify that the person or company is registered in Saskatchewan to sell or advise about securities or derivatives. To check registration, visit The Canadian Securities Administrators’ National Registration Search at aretheyregistered.ca.
    • Know exactly what you are investing in. Make sure you understand how the investment, product, or service works.
    • Get a second opinion and seek professional advice about the investment.
    • Do not allow unknown or unverified individuals to remotely access your computer.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Africa: President Ruto, Samaila Zubairu and Africa’s Top Chief Executive Officer’s (CEO) to Headline The Africa Debate in London

    Invest Africa (www.InvestAfrica.com) is pleased to announce Africa Finance Corporation (AFC) as Headline Partner for the 11th edition of The Africa Debate, taking place on Wednesday, 2 July 2025 at the Guildhall, in the heart of the City of London.

    This year’s theme — “Harnessing Natural Capital for Growth” — seeks to interrogate how Africa can transform the scale and structure of investment around its most enduring assets: from its critical minerals and fertile land to its human ingenuity and demographic dynamism.

    Now firmly established as the UK’s premier forum for Africa-focused investment dialogue, The Africa Debate will convene over 700 senior decision-makers from across government, finance, and industry for a full day of high-level exchanges. Through keynote addresses, ministerial dialogues, and curated sector debates, the programme will explore how to turn extractive advantage into structural transformation — mobilising green industrialisation, digital infrastructure, intra-African trade, and new financial instruments to drive inclusive, climate-smart growth.

    This year’s speaker line-up reflects the extraordinary breadth of voices shaping Africa’s next chapter, from heads of state to the stewards of global capital. Highlights include: H.E. William Ruto, President of the Republic of Kenya; H.E. Hailemariam Desalegn Boshe, Former Prime Minister of Ethiopia; Board Chair, TradeMark Africa; H.E. Wamkele Mene, Secretary-General, African Continental Free Trade Area Secretariat; Benedict Oramah, President, Afreximbank; Samaila Zubairu, President & CEO, Africa Finance Corporation; Abebe Aemro Selassie, Director, African Department, International Monetary Fund; Solomon Quaynor, Vice President for Private Sector, Infrastructure & Industrialisation, African Development Bank; Strive Masiyiwa, Founder & Chair, Econet Wireless; Duncan Wanblad, CEO, Anglo American; Wale Tinubu, CEO, Oando Plc; Monique Gieskes, CEO, PHC; Marie-Chantal Kaninda, President, Glencore DRC; and more. The full programme is now available to view here (http://apo-opa.co/4ljJqbx), with detailed sessions on value chain transformation, blended finance, regional infrastructure, and Africa’s positioning in a multipolar global economy.

    Samaila Zubairu, President and CEO of Africa Finance Corporation, commented: “Natural capital is only as valuable as the systems that refine, protect, and elevate it. At AFC, we believe that infrastructure is the bridge between Africa’s resource richness and the continent’s ability to rapidly industrialise and take its rightful place on the global stage. Our partnership with Invest Africa and The Africa Debate underscores the need for thoughtful, long-term capital — deployed strategically — to unlock the continent’s full economic potential. We are proud to support a platform that challenges assumptions and catalyses bold, bankable solutions.”

    Chantelé Carrington, CEO of Invest Africa, added: “Africa’s path to prosperity must be built not on extraction, but on transformation. This year’s theme compels us to ask harder questions about how we steward the continent’s assets — human, natural, and institutional — in a world shaped by climate change, technological disruption, and shifting geopolitical priorities. With AFC’s visionary leadership, we are honoured to convene a dialogue that is ambitious in scope, rigorous in thought, and focused on meaningful outcomes.”

    Confirmed Sponsors of The Africa Debate Include: Africa Finance Corporation (Headline Partner), Absa Group, Afreximbank, FirstBank UK Limited, Invest KZN, Standard Chartered, Standard Bank Group, Plantations et Huileries du Congo, Lagos Free Zone (Tolaram), Octopus Energy, ServiceNow, Stellar Developments, Spiro, Safaricom, Premier Invest, Remittances Hub, S-RM, DLA Piper, and London Stock Exchange Group.

    To register as a delegate for The Africa Debate, please visit: https://apo-opa.co/4efWGM0. Places are limited and advance registration is essential.

    Distributed by APO Group on behalf of Invest Africa.

    For more information or media enquiries, please contact:
    Pippa van Breda
    Marketing & Communications Manager
    Invest Africa
    T: +44 2037 305 035
    E: pippa.vanbreda@investafrica.com

    About The Africa Debate:
    The Africa Debate is London’s premier investment forum dedicated to shaping the future of African trade, investment, and economic transformation. Now in its 11th year, the event serves as a critical platform for global businesses, investors, policymakers, and thought leaders to engage in high-level discussions on Africa’s evolving role in the global economy.

    About Invest Africa:
    Invest Africa is a leading pan-African business platform that promotes trade and investment across the continent. With a 60-year heritage and a network of over 400 global members, Invest Africa provides trusted intelligence, strategic connections, and high-level convenings to support business success across African markets.

    About Africa Finance Corporation:
    Africa Finance Corporation is Africa’s leading multilateral finance institution, focused on bridging the continent’s infrastructure gap through innovative, commercially viable, and sustainable investments.

    MIL OSI Africa –

  • MIL-OSI Asia-Pac: MiC Week opens

    Source: Hong Kong Information Services

    Secretary for Development Bernadette Linn today released the Guangdong-Hong Kong Modular Integrated Construction (MiC) Cross-boundary Trading Guidebook at the launch ceremony for MiC Week, which is being held in Guangdong and Hong Kong from today until Saturday.

     

    MiC Week is jointly organised by the Development Bureau (DEVB) and the Department of Housing & Urban-Rural Development of Guangdong Province (DHURDGP). It features a series of activities to help the public learn about the MiC and provides a platform for the industry to exchange relevant knowledge and experience to promote MiC’s wider adoption.

     

    Speaking at the launch ceremony, Ms Linn said the Hong Kong Special Administrative Region Government has been actively promoting the adoption of MiC with the aim of enhancing the construction industry’s productivity and cost-effectiveness. As of now, more than 100 government and private projects have adopted the method.

     

    She also highlighted that the Hong Kong SAR Government is implementing a series of measures to strengthen the MiC supply chain. These include the release of the cross-boundary trading guidebook, the accreditation of MiC manufacturers, the announcement of an MiC Annual Demand Forecast, the enhancement of relevant MiC training, and research and development into new technologies.

     

    The cross-boundary trading guidebook compiled by the DEVB gives manufacturers guidelines on bonded processing trade arrangements for MiC materials and cross-boundary tax declarations for the export of MiC modules to Hong Kong.

     

    Ms Linn also mentioned that the DEVB plans to announce a new requirement for public works projects later this year to require MiC manufacturers to be accredited before bidding for tenders, with a view to streamlining the vetting and approval process and ensuring quality.

     

    In addition, she pointed out that Guangdong is the main manufacturing base for MiC modules in the Greater Bay Area, while Hong Kong possesses advantages in research and development as well as overseas promotion.

     

    She said the DEVB will continue to work closely with the Guangdong Provincial Government to build the bay area into a MiC technology and construction hub, and promote the use of MiC as a new quality productive force and a strategic industry that expands to the international arena.

     

    DHURDGP Director-General Zhang Yong said in his speech that high-quality and reliable MiC products from Guangdong have been gradually applied in various projects in Hong Kong, including office buildings, school dormitories, public housing and private buildings.

     

    He also noted that from January to May this year, Guangdong exported MiC modules with a total value of about $1.39 billion to Hong Kong, representing a year-on-year increase of 2.3 times.

     

    The unveiling ceremony of the Guangdong-Hong Kong-Macao MiC Industry Alliance was also held at the launch ceremony.

     

    In addition, the Building Technology Research Institute presented accreditation certificates to the first batch of eight manufacturers accredited under the MiC Manufacturer Accreditation Scheme, and the Construction Industry Council announced the first MiC Annual Demand Forecast, jointly published with the DEVB.

     

    Over 1,000 participants took part in the ceremony online and offline.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Coface SA: Coface strengthens its strategic focus on data and innovation, and continues to invest in its Information Services growth

    Source: GlobeNewswire (MIL-OSI)

    Coface strengthens its strategic focus on data and innovation, and continues to invest in its Information Services growth

    Paris, 23 June 2025 – 17.45

    Coface announces the creation of a dedicated technological hub focused on data, connectivity, and product innovation led by Thibault Surer, Group Strategy and Development Director. Thibault Surer will continue to oversee Strategy, Economic research, Marketing, and Mergers & Acquisitions.

    Coface also announces the appointment of Joerg Diewald as Information Services and Partnerships Director to support and accelerate the business development of these two strategic activities.

    These changes will be effective from July 1st, 2025.

    These appointments strengthen Coface’s governance and are perfectly in line with the Group’s strategic focus, notably around data and innovation.

    Xavier Durand, Coface’s Chief Executive Officer, commented:
    “Over the last 12 months, we have made significant progress in Information Services and data. This strengthening of governance is an important step of our continued efforts and will allow us to face up the complexity and scale of the transformation required. These appointments are perfectly in line with the objectives of our strategic plan Power The Core, which aims to reach data and technology excellence and generate a grow profitably Information Services.”

     

    Thibault Surer, Group Strategy and Development Director will lead a dedicated technological hub focused on data, connectivity, and product innovation while continuing to oversee Strategy, Economic research, Marketing, and Mergers & Acquisitions.

    As our investments in data and innovation grow, it is becoming clear that the complexity and scale of the transformations required in these domains deserve greater attention and a strengthened governance. This is the objective behind the creation of the technology hub.

    		   
    Joerg Diewald, appointed as the new Global Head of Information Services and partnerships will focus on the business development of these two strategic activities.

    Before joining Coface, he served as Chief Commercial Officer and Board Member at Solarisbank AG in Berlin, a Fintech company operating in the digital banking industry. Joerg brings more than 30 years of international experience in banking, commercial finance, and risk management.

    Based in Mainz, Germany, Joerg Diewald directly reports to Xavier Durand, Chief Executive Officer of Coface.

    CONTACTS

    ANALYSTS / INVESTORS
    Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
    Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

    MEDIA RELATIONS
    Saphia GAOUAOUI: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
    Adrien BILLET: +33 1 49 02 23 63 – adrien.billet@coface.com

    FINANCIAL CALENDAR 2025
    (subject to change)

    H1-2025 results: 31 July 2025 (after market close)
    9M-2025 results: 3 November 2025 (after market close)

    FINANCIAL INFORMATION
    This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: http://www.coface.com/Investors

    For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2024 and our 2024 Universal Registration Document (see part 3.7 “Key financial performance indicators”).

    Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust.
    You can check the authenticity on the website www.wiztrust.com.
     

    COFACE: FOR TRADE
    As a global leading player in trade credit risk management for more than 75 years, Coface helps companies grow and navigate in an uncertain and volatile environment.
    Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, Factoring.
    Every day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets.
    In 2024, Coface employed ~5,236 people and registered a turnover of €1.84 billion.

    www.coface.com

    COFACE SA is quoted in Compartment A of Euronext Paris
    Code ISIN: FR0010667147 / Ticker: COFA

    DISCLAIMER – Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2024 Universal Registration Document filed with AMF on 5 April 2024 under the number D.25-0227 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group’s businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.

    Attachment

    The MIL Network –