Category: Trade

  • MIL-OSI Analysis: Nostalgic foods and scents like fresh-cut grass and hamburgers grilling bring comfort, connection and well-being

    Source: The Conversation – USA – By Chelsea Reid, Associate Professor of Psychology, College of Charleston

    The foods and scents we associate with our childhoods can provide a meaningful source of comfort and connection. zeljkosantrac/E+ via Getty Images

    Walking around my neighborhood in the evening, I am hit by the smells of summer: fresh-cut grass, hamburgers grilling and a hint of swimming pool chlorine. These are also the smells of summers from my adolescence, and they remind me of Friday evenings at the community pool with my friends and our families gathered around picnic tables between swims. The memories always brings a smile to my face.

    As a social psychologist, I shouldn’t feel surprised to experience this warm glow. My research focuses on nostalgia – a sentimental longing for treasured moments in our personal pasts – and how nostalgia is linked to our well-being and feelings of connection with others.

    Triggered by sensory stimuli such as music, scents and foods, nostalgia has the power to mentally transport us back in time. This might be to important occasions, to moments of triumph and – importantly – moments revolving around close family and friends and other important people in our lives.

    As it turns out, this experience is good for us.

    How the concept of nostalgia evolved

    For centuries, nostalgia was considered unhealthy.

    In the 1600s, a Swiss medical student named Johannes Hofer studied mercenaries in the Italian and French lowlands who longed desperately for their mountain homelands. Witnessing their weeping and despondency, he coined the term nostalgia and attributed it to a brain disease. Other thinkers of the time echoed this view, which persisted through the 18th and 19th centuries.

    However, early thinkers made an error: They assumed that nostalgia was causing unpleasant symptoms. It may have been the reverse. Unpleasant experiences, such as loneliness and grief, can arouse nostalgia, which can then help people cope more effectively with these hardships.

    Today, researchers view nostalgia as a predominantly positive, albeit bittersweet, emotional experience that serves as a source of psychological well-being. Importantly, this view has been supported by scientific research.

    Part of what makes nostalgia so intense is the bittersweet blend of feelings that it brings up.

    How nostalgia inspires connection and belonging

    Nostalgia provides many benefits. It enhances feelings of optimism and inspiration and makes people view themselves more positively. When people feel nostalgic, they feel a greater sense that their lives are meaningful.

    The social benefits of nostalgia are particularly well supported. Nostalgia increases empathy and the willingness of people to give to those around them, such as volunteering for community events and donating to charities.

    Nostalgia also makes people feel more socially connected to their loved ones by enhancing feelings that they are loved by, connected to, protected by and trusting of others. Nostalgia helps people feel more secure in their close relationships and enhances relationship satisfaction.

    While nostalgia is a universal experience, it is also deeply personal. The moments for which we are each nostalgic and the stimuli that might trigger our nostalgic memories can vary from one person to the next depending on the experiences that each of us have. But people within the same culture may find similar stimuli to be nostalgic for them. In a 2013 study, for instance, my team found that American participants rated pumpkin pie spice as the most nostalgia-evoking scent out of a variety of options.

    Many nostalgia-inducing scents vary from person to person, but pumpkin pie spice may be one of the most evocative scents in the U.S.
    Redjina Ph/Moment via Getty Images

    The nostalgic power of scents and foods

    In 1922, the French novelist Marcel Proust wrote about the strength of scents and foods to elicit nostalgia. He vividly described how the experience of smelling and eating a tea-soaked cake mentally transported him back to childhood experiences with his aunt in her home and village. This sort of experience is now often referred to as the Proust effect.

    Science has confirmed what Proust described. Our olfactory system, the sensory system responsible for our sense of smell, is closely linked to brain structures associated with emotions and autobiographical memory. Smells combine with tastes to create our perception of flavor.

    Foods also tend to be central to social gatherings, making them easily associated with these memories. For instance, a summer barbecue might feel incomplete to some without slices of juicy watermelon. And homemade pumpkin pie may be an essential dessert at many Thanksgiving tables. The watermelon or pie may then serve as what are known in social psychology as social surrogates, foods that serve as stand-ins for valued relationships due to their inclusion at past occasions with loved ones.

    My research team and I wanted to know how people benefited from feeling nostalgic when they encountered the scents and foods of their pasts. We began in 2011 by exposing study participants to 33 scents and chose 12 of them for our study. Participants rated some scents, such as pumpkin pie spice and baby powder, as highly evocative of nostalgia, while rating others – such as money and cappuccino –as less evocative.

    Those who experienced more nostalgia when smelling the scents experienced greater positive emotions, greater self-esteem, greater feelings of connection to their past selves, greater optimism, greater feelings of social connectedness and a greater sense that life is meaningful.

    We came to similar conclusions when we studied nostalgia for foods. Foods seemed to be more strongly linked to nostalgia than either scents or music when comparing the amount of nostalgia our participants experienced for foods to what previous research participants experienced for scents and songs. More recently, we found that nostalgic foods are comforting and that people find nostalgic foods comforting because those nostalgic foods remind them of important or meaningful moments with their loved ones.

    For some, a summer barbecue wouldn’t be complete without the smell and taste of juicy watermelon.
    GMVozd/E+ via Getty Images

    Balancing benefits and trade-offs

    Although nostalgia can be associated with foods that should be eaten only in moderation – such as burgers and cookies – there are other ways to channel our nostalgia through foods.

    We can have nostalgia with healthy foods. For instance, orange slices remind me of halftime at childhood soccer matches. And many people, including our research participants, feel intense nostalgia around watermelon. Other researchers have found that tofu is a nostalgic food for Chinese participants.

    But when nostalgia does involve consumption of unhealthy foods, there are still other ways to experience it without the health trade-offs. We found that participants experienced the benefits of food-evoked nostalgia just from imagining and writing about the foods – no consumption necessary. Other researchers have found that drawing comforting foods can enhance well-being. Even consuming less healthy foods more mindfully helps people enjoy their food while reducing their caloric consumption.

    Once seen as detrimental to our health, nostalgia provides us with an opportunity to reap numerous rewards. With nostalgic foods, we might be able to nourish both our bodies and our psychological health.

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

    ref. Nostalgic foods and scents like fresh-cut grass and hamburgers grilling bring comfort, connection and well-being – https://theconversation.com/nostalgic-foods-and-scents-like-fresh-cut-grass-and-hamburgers-grilling-bring-comfort-connection-and-well-being-256192

    MIL OSI Analysis

  • MIL-OSI: American Rebel Light Beer Strengthens Brand Position with NHRA as Title Sponsor of American Rebel Light Virginia NHRA Nationals (June 20-22, 2025) – National Television Broadcast on FOX and FS1

    Source: GlobeNewswire (MIL-OSI)

    American Rebel Holdings Inc. (NASDAQ: AREB) Expanding Market Presence and Showcasing Patriotism through Strategic Partnerships, High-Profile Events, and Unmatched Fan Engagement

    American Rebel Light Beer Takes Center Stage at Virginia NHRA Nationals – Available at all concession locations selling beer, American Rebel Light fuels the excitement of motorsports while celebrating patriotism, highlighted by two electrifying concerts from CEO Andy Ross.

    American Rebel Light Virginia NHRA Nationals – America’s Patriotic Beer stands proudly in the spotlight, reaching millions of dedicated fans on-site and across national TV, reinforcing its commitment to fans of motorsports that aligns with our American values.

    NASHVILLE, TN, June 17, 2025 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB) (“American Rebel” or the “Company”), creator of American Rebel Beer (americanrebelbeer.com) and a designer, manufacturer, and marketer of branded safes, personal security and self-defense products and apparel, proudly announces that its flagship beer, American Rebel Light, has been named the title sponsor of the American Rebel Light Virginia NHRA Nationals taking place June 20 – 22 at Virginia Motorsports Park in Richmond, VA.

    Race Weekend Highlights at the American Rebel Light Virginia NHRA Nationals

    Fans can enjoy American Rebel Light at all concession locations selling beer at Virginia Motorsports Park, as well as at the American Rebel Light Party Tent and American Rebel Light Trackside Bar. CEO Andy Ross will perform two concerts during race weekend, bringing his signature freedom-fueled anthems to NHRA fans.

    “We’re really playing to our audience and core customers at NHRA races,” said Andy Ross, CEO American Rebel Holdings, Inc. “Race fans are very patriotic, and they love our beer and if they give me the microphone, I’m happy to spread the word! NHRA 330+ mph, 12,000-horsepower nitro machines and Rebel Light are the perfect match. It’s the only beer we’re drinking round here.”

    NHRA Nationals Broadcast Details

    The American Rebel Light Virginia NHRA Nationals will broadcast on the FOX network and FS1, with eliminations coverage beginning at 4 pm EDT on Sunday, June 22.

    FOX broadcasts deliver major reach—up to 2 million viewers—making the Sunday eliminations a prime marketing moment for brand exposure for American Rebel Light.

    FS1 coverage reinforces awareness and offers additional touchpoints with hundreds of thousands more viewers.

    Expected and Historical Track attendance is strong, with several years of sold-out or near-capacity sessions, maximizing experiential fan engagement.

    Platform / Metric Estimated Range
    FOX (Sunday finals) 800K–2.1M viewers (800K avg, peak ~2.1M)
    FS1 (Qualifying / tape-delayed) ~250K–600K viewers, avg ~400K-500K
    On-site attendance Up to 23K capacity per day
       

    Andy Ross – Presented by American Rebel Light Beer – Live Performance Schedule

    Known for his patriotic and high-energy music, Andy Ross will take the stage:

    • Saturday Afternoon: Between Q2 & Q3 Nitro qualifying sessions (~3:15 pm EDT)
    • Sunday: Following Round 1 of Nitro Eliminations (~1:00 pm EDT)

    American Rebel Building on Past Success with the NHRA

    This marks the second NHRA title sponsorship for American Rebel Light in 2025. After a successful partnership at the American Rebel Light NHRA 4-Wide Nationals in Charlotte, the brand continues to expand its presence in professional drag racing.

    “Our experience in Charlotte was amazing,” said Andy Ross. “The exposure put us on the map in North Carolina and nationwide through FOX, FS1, and FS2 broadcasts. NHRA and Charlotte Motor Speedway were fantastic partners, and we can’t wait to do it again at Virginia Motorsports Park.”

    Strong Brand Presence at Virginia Motorsports Park

    As part of the sponsorship, American Rebel Light will have a strong brand presence at Virginia Motorsports Park, featuring trackside signage and brand integrations throughout the venue. Race fans (21+) can enjoy American Rebel Light—America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, Stand-Your-Ground Beer—while experiencing the intensity of NHRA drag racing.

    NHRA Excited to Welcome Back American Rebel Light

    “We’re thrilled to have American Rebel Light return as a title sponsor,” said Brad Gerber, NHRA Vice President and Chief Development Officer. “They’ve already proven to be a terrific partner with a team passionate about NHRA drag racing. We’re looking forward to an incredible weekend with American Rebel Light Beer and NHRA fans.”

    Meet NHRA Racing Legends

    Throughout the race weekend, fans can meet and greet American Rebel Light-sponsored drivers:

    • Tony Stewart
    • Matt Hagan
    • Other NHRA drivers in autograph sessions

    The Ultimate NHRA Experience

    Fans can grab a cold American Rebel Light at all concession locations selling beer at Virginia Motorsports Park. For an elevated experience, visit the American Rebel Light Trackside Bar or the American Rebel Light Party Tent, where guests can toast to horsepower and freedom with American Rebel Light 16 oz Tall Boys.

    Stay Connected & Get Tickets

    For tickets and event details, visit NHRA’s official site or follow Andy Ross (@andyrossrebel), American Rebel Beer (@americanrebelbeer) and American Rebel (@AmericanRebel99 on X) on social media for updates.

    New American Rebel Virginia Distributor – Valley Distribution Ensures Fans Enjoy American Rebel Light Beer at American Rebel Light Virginia NHRA Nationals

    American Rebel Beverages recently welcomed Valley Distributing Corporation (valleydist.net) as its newest distribution partner in the Commonwealth of Virginia. Their rapid execution was critical in ensuring that fans at the American Rebel Light Virginia NHRA Nationals could enjoy a cold American Rebel Light Beer throughout the race weekend—from the grandstands to the American Rebel Light Party Tent.

    “We’re incredibly grateful for Valley’s ability to move fast and deliver results,” said Todd Porter, President of American Rebel Beverages. “Their speed and commitment exemplify exactly why we believe this will be a long-term, high-impact partnership. We’re excited to grow together and build a retail footprint across Southwestern Virginia, so when fans head home from the race, they can find American Rebel Light Beer on shelves near them.”

    With this key partnership in place, American Rebel Beverages continues to expand its patriotic footprint—one race, one fan, and one state at a time.

    About American Rebel Light Beer

    American Rebel Light is more than just a beer – it’s a celebration of freedom, passion, and quality. Brewed with care and precision, our light beer delivers a refreshing taste that’s perfect for every occasion.

    Since its launch in September 2024, American Rebel Light Beer has rolled out in Tennessee, Connecticut, Kansas, Kentucky, Ohio, Iowa, Missouri, North Carolina, Florida, Indiana and now Virginia and is adding new distributors and territories regularly. For more information about the launch events and the availability of American Rebel Beer, please visit americanrebelbeer.com or follow us on our social media platforms (@americanrebelbeer).

    American Rebel Light is a Premium Domestic Light Lager Beer – All Natural, Crisp, Clean and Bold Taste with a Lighter Feel. With approximately 100 calories, 3.2 carbohydrates, and 4.3% alcoholic content per 12 oz serving, American Rebel Light Beer delivers a lighter option for those who love great beer but prefer a more balanced lifestyle. It’s all natural with no added supplements and importantly does not use corn, rice, or other sweeteners typically found in mass produced beers.

    For more information about American Rebel Light Beer follow us on social media @AmericanRebelBeer.

    For more information, visit americanrebelbeer.com.

    About American Rebel Holdings, Inc.

    American Rebel Holdings, Inc. (NASDAQ: AREB) has operated primarily as a designer, manufacturer and marketer of branded safes and personal security and self-defense products and has recently transitioned into the beverage industry through the introduction of American Rebel Light Beer. The Company also designs and produces branded apparel and accessories. To learn more, visit americanrebelbeer.com. For investor information, visit americanrebel.com/investor-relations.

    Watch the American Rebel Story as told by our CEO Andy Ross visit The American Rebel Story

    Media Inquiries:
    Matt Sheldon
    Matt@Precisionpr.co
    917-280-7329

    American Rebel Holdings, Inc.

    info@americanrebel.com
    ir@americanrebel.com

    American Rebel Beverages, LLC

    Todd Porter, President
    tporter@americanrebelbeer.com

    Forward-Looking Statements

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

    Attachment

    The MIL Network

  • MIL-OSI Africa: SARS clamps down on non-compliance in the fuel industry

    Source: South Africa News Agency

    The South African Revenue Service (SARS) is working with other law enforcement agencies to combat illicit fuel trade, which costs the fiscus approximately R3.6 billion per year.

    In the past four months, the National Joint Operational and Intelligence Structure (NATJOINTS) has carried out several interventions.

    A joint intelligence team, comprising SARS and South African Police Service (SAPS) officials, has identified 23 targets across Gauteng, Mpumalanga and KwaZulu-Natal.

    In addition, 13 criminal cases were registered with SAPS, supported by SARS trade investigators, for customs and excise contraventions, and fraud. 

    “The intelligence-driven joint enforcement interventions included search-and-seizure operations targeting certain fuel storage facilities and depots, as well as random sampling of tanker transport to test the fuel viscosity and composition. In some cases, adulterated diesel – analysed in these investigations – had up to 68% paraffin content,” SARS said.

    Over the past decade, countries along the Maputo Corridor (South Africa, Eswatini and Mozambique) have become primary targets of the illicit fuel trade, which is driven by organised criminal networks that smuggle and illegally adulterate fuel. 

    SARS has established that some importers declare fuel amounting to 40 000 litres or less, whereas investigations reveal that up to 60 000 litres of fuel are actually imported. 

    “This is called under-declaration and documents are falsified to perpetuate this fraudulent activity. SARS has also detected a national trend, where many of the fuel-storage and distribution depots are involved in the adulteration of all fuel products, especially through illegal mixing of diesel with paraffin.

    “Fuel adulteration costs the fiscus approximately R3.6 billion per year, according to statistics by the International Trade Administration Commission,” SARS said.

    Faced with such carefully planned criminality, government agencies are working together more closely to detect, prevent and combat fuel adulteration, and enforce the Customs and Excise Act. 

    SARS noted that the illicit economy is a global phenomenon that threatens South Africa’s society, economy, and national security.

    “Tax evasion, smuggling, illegal transactions, illicit manufacturing and fraud undermine the rule of law, erode public trust, distort markets, deprive governments of revenue, and enable corruption and organised crime. 

    “The pervasiveness of these illicit activities in our country demands that all enforcement agencies work jointly to curb their harmful practices. The illicit economy is complex and requires a whole-of-government response among public entities, the private sector, civil society, and international partners,” SARS said.

    SARS Commissioner Edward Kieswetter expressed his appreciation to the SARS and SAPS teams and other government departments for their untiring efforts to detect, combat and prevent the scourge of the illicit economy. 

    “The criminal syndicates engaged in these brazen acts have become emboldened to act callously, with no restraint, in pursuit of their rapacious and criminal gains.

    “These syndicates can only underestimate our resolve to eradicate this criminality at their peril. These acts threaten the very foundation of our society. Our message is clear: we will spare no efforts to crush them,” the Commissioner said.

    Kieswetter said State agencies will collaborate and work within the law to confront illicit trade. 

    The joint intelligence team also found the following:

    • 953 515 litres of contaminated diesel fuel.
    • Six fuel depots that were in contravention of Sec. 37 of the Customs and Excise Act 91 of 1964, as amended.
    • Assets and contaminated fuel to the value of R367 274 330, leading to further investigation, and criminal and civil liabilities.
    • Two so-called fuel “washrooms”, one of which is a rare mobile “washroom” fitted on a transport truck, used to remove paraffin markers.
    • Twelve fuel transport trucks, which were identified after suspected false declaration on importation of an average of 15 000 litres of fuel per tanker. – SAnews.gov.za

    MIL OSI Africa

  • MIL-OSI: XWELL Named Official Wellness Spa of the Orlando Magic

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 17, 2025 (GLOBE NEWSWIRE) — XWELL, Inc. (Nasdaq: XWEL) (“XWELL” or the “Company”), a leading provider of wellness solutions for people on the go, today announced it has been named the Official Wellness Spa of the Orlando Magic as part of a new multiyear partnership. The partnership reflects a significant milestone in XWELL’s strategic expansion beyond airports and into high-growth local markets – beginning with Florida.

    “This partnership with the Orlando Magic represents a powerful opportunity to introduce our wellness offerings to a broader community,” said XWELL CEO Ezra Ernst. “Florida is a priority growth market for us, and we’re proud to partner with an organization that shares our dedication to physical and mental well-being. Together, we’ll help make wellness more accessible and top-of-mind for fans throughout the region.” 

    Building on its strong foundation in Orlando —where XWELL has long served wellness-minded travelers at its Xpres Spa in Orlando International Airport—this new collaboration allows XWELL to extend its reach into the broader community. It underscores the company’s expanding mission to liberate wellness beyond travel hubs and into daily life.

    Through this partnership, XWELL will receive significant brand integration across the Magic’s digital and in-arena platforms, including LED signage during home games, sponsored sweepstakes, radio promotions, website and app placement, and exclusive activations at Magic Fan Fest events outside the Kia Center. The agreement also includes on-court contests, consumer giveaways, and a co-branded wellness event at a local XWELL spa location featuring appearances by Magic alumni, the Magic entertainment teams, and fan-favorite mascot STUFF.

    “The Orlando Magic are thrilled to partner with XWELL, a brand continuing to grow in Central Florida,” said Magic Sr. Vice President of Global Partnerships J.T. McWalters. “As two organizations that place an emphasis on legendary customer service, this partnership is a natural fit. We can’t wait to share with our fans all that XWELL has to offer the Central Florida community.”

    The partnership plays a key role in supporting XWELL’s business goals in Florida, where the company is focused on expanding its medspa footprint as well as building brand awareness and lasting connections with local consumers. Through high-visibility brand activations and community engagement, XWELL aims to strengthen customer acquisition and solidify its role as a leading wellness provider in the state – inside and outside the airport.

    For Magic fans and the broader Orlando community, XWELL’s presence at Kia Center and in the local area reflects the shared commitment of both brands to the health and well-being of its fans, players, and staff. With a growing number of wellness spas and services available to Magic fans across Florida, XWELL is poised to help bring the same mindset of care, recovery, and resilience off the court and into everyday life.

    XWELL and the Orlando Magic will launch their first co-branded campaign and sweepstakes this season, offering fans exclusive discounts, chances to win a year of spa treatments, and additional unique opportunities to come.

    To learn more about XWELL’s services and locations, visit www.XWELL.com.

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

    About the Orlando Magic
    Orlando’s NBA franchise since 1989, the Magic’s mission is to be world champions on and off the court, delivering legendary moments every step of the way. Under the DeVos family’s ownership, the Magic have seen great success in a relatively short history, winning eight division championships (1995, 1996, 2008, 2009, 2010, 2019, 2024, 2025) with seven 50-plus win seasons and capturing the Eastern Conference title in 1995 and 2009. Off the court, on an annual basis, the Orlando Magic gives more than $2 million to the local community by way of sponsorships of events, donated tickets, autographed merchandise and grants. Orlando Magic community relations programs impact an estimated 100,000 kids each year, while a Magic staff-wide initiative provides more than 7,000 volunteer hours annually. In addition, the Orlando Magic Youth Foundation (OMYF) which serves at-risk youth, has distributed more than $30 million to local nonprofit community organizations over the last 35 years. The Magic’s other entities include the team’s NBA G League affiliate, the Osceola Magic, 2021 G League champions, and the Orlando Solar Bears of the ECHL, which serves as the affiliate to the NHL’s Tampa Bay Lightning. The Magic play their home games at the award-winning Kia Center – voted by fans no. 1 in the NBA for game experience; honored with TheStadiumBusiness Awards’ Customer Experience Award; named SportsBusiness Journal’s Sports Facility of the Year; and awarded the Venue Excellence Award (VEA) by the International Association of Venue Managers. The Magic practice at the award-winning AdventHealth Training Center. The Magic was also recognized by the Sports Business Journal as one of the “Best Places to Work” in sports in 2023 and 2024. For ticket information, visit OrlandoMagic.com or call 407-89-MAGIC.

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/314d6ece-0fb7-460a-8413-bd3ffe40667d

    The MIL Network

  • MIL-OSI USA: Neag School Graduate Students Publish Third Issue of Education Research Journal

    Source: US State of Connecticut

    The UConn Neag School of Education’s academic journal has published its third issue, thanks to the hard work and dedication of a group of graduate students.

    “We are pleased to share the third issue of the Neag School of Education Journal,” reads a letter from the journal’s board members in the Spring 2025 issue. “We take pride in providing a supportive “testing ground” for graduate authors to refine their original work in collaboration with our graduate-led editorial board. Fundamentally, the Neag School of Education Journal is committed to the growth and development of emergent educational researchers across fields. After much hard work and dedication from our authors and editorial board, we are thrilled to unveil the culmination of their efforts – three pieces that showcase the excellence of our 2025 edition.”

    The Neag School of Education Journal is an editor-reviewed, open-access, annual journal. Founded and run by graduate students and published online through the Neag School, its primary purpose is to offer a platform for graduate students to share their research and knowledge with academic communities. It also hopes to broaden and deepen the literature of education as written and experienced by graduate students and early-career scholars. Ten graduate students from the Neag School make up the journal’s current board.

    The journal prizes pieces that seek to “improve education and social systems in order to facilitate increasingly effective, equitable, and socially just practices for educators and practitioners from a variety of fields, perspectives, and theoretical lenses as they serve their local communities.”

    The three articles accepted and published in the Spring 2025 issue are:

    In addition to providing graduate students and early-career scholars an opportunity to share their work more widely, the editors say the journal fosters collaboration among students and their colleagues. It also helps to demystify the publishing process and supports editors as they move toward publishing their own work in the field. Making the journal open access was also important, ensuring that its content could serve as an available source of information for current and future practitioners. Importantly, authors maintain their copyright and thus can work on their pieces after publication for future submission elsewhere – a feature aligned with the journal’s orientation toward building authors’ capacity and opportunities.

    The journal is accepting manuscripts for its fourth issue until June 30. Manuscripts must be one of the following four types: research articles, essays, literature reviews, or personal reflections. Of course, the manuscript must deal with a topic of interest to those in the field of education.

    “We have many fantastic and dedicated people to thank for the realization of our third issue,” the letter from the board says. “To Dr. Jennie Weiner, our advisor, thank you for your tireless dedication to this journal and to students. You model to us what a human-centered and compassionate review process can be and have taught us enduring lessons as reviewers and researchers. Another thank you to Dr. Jason Irizarry, our dean, who has enthusiastically supported the journal from its inception and made it clear that our work and voices matter. … Finally, thank you to the authors of the pieces featured in this issue and all who submitted work. It goes without saying that this would be impossible without your contributions. We are immensely proud to feature your work in this issue.”

    To learn more about the Neag School of Education Journal, visit education.uconn.edu/neag-journal.

    MIL OSI USA News

  • MIL-OSI Europe: Answer to a written question – Next steps and policy outlook for EU-SADC (Southern African Development Community) Economic Partnership Agreement – E-001583/2025(ASW)

    Source: European Parliament

    The EU-Southern African Development Community (SADC) Economic Partnership Agreement (EPA) has been provisionally applied since 2016.

    A comprehensive external ex-post evaluation of the EPA was published in September 2024[1]. It shows that the EPA has delivered on its main aim to increase trade in goods between both sides, with an overall increase since 2016 of 24% (31% for SADC exports and 18% for EU exports).

    It has also helped to diversify SADC exports as particularly visible in the South African automotive sector. The Commission will publish a staff working document this year to follow-up on the ex-post evaluation study.

    The ex-post evaluation study is also used as input for the EPA review that is provided for in Article 116 of the EPA[2]. In the course of the review, both sides are assessing to what extent the implementation of the EPA can be further complemented or improved. Based on the current state of play, the Commission does not expect any reopening of the agreement or any addition of new trade areas.

    The Commission aims at concluding the review by the next EU-SADC Joint Council (at political level) that will be prepared beforehand by the EU-SADC Trade and Development Committee (at senior official level; both meetings are envisaged to take place in 2026 at a date still to be determined).

    • [1] https://policy.trade.ec.europa.eu/analysis-and-assessment/ex-post-evaluations_en.
    • [2] Art. 116: (1) The Parties agree to review this Agreement in its entirety no later than five (5) years after its entry into force. Such review is without prejudice to instances of adjustments, reviews or revisions otherwise provided for in this Agreement, such as those contemplated under Articles 12(2), 16(8), 17(5), 18(5), 26(10), 33(3), 35(6) and 65(e). (2) As regards the implementation of this Agreement, either Party may make suggestions oriented towards adjusting trade-related cooperation, taking into account the experience acquired during the implementation thereof. (3) The Parties agree that this Agreement may need to be reviewed in light of further developments in international economic relations and in the light of the expiration of the Cotonou Agreement; https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:22016A0916(01).
    Last updated: 17 June 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Shortening timelines for anti-dumping proceedings – P-001968/2025(ASW)

    Source: European Parliament

    Before taking action against unfairly traded imports (i.e. dumped of subsidised), the Commission must first establish that these practices are taking place and that they are causing harm to the EU industry. This requires investigations which are complex and subject to a strict legal framework.

    In 2018, as part of the modernisation of the trade defence instruments, the length of anti-dumping investigations was shortened by one month.

    Since then, provisional measures are imposed eight, and in some cases seven months after initiation. Also, in October 2024, the Commission decided to register imports in all ongoing new investigations to facilitate the retroactive application of measures, i.e. before the date of provisional measures, if the legal conditions allow[1].

    As regards citric acid, there are anti-dumping measures in place on imports of the product from China ranging between 16.3% and 42.7% since 2008.

    These measures were most recently extended for a further five years, in April 2021, following an expiry review[2]. These measures reflect the levels of dumping found in the context of an investigation conducted in line with World Trade Organisation and EU legislation.

    Measures in place may be reviewed on request by interested parties where there are changed circumstances of a lasting nature. The Commission conducts such reviews where it receives evidence from the European industry that action is warranted and will assist any industry in using the instruments.

    • [1] https://policy.trade.ec.europa.eu/news/commission-register-imports-all-products-under-trade-defence-investigations-bid-fight-unfair-2024-09-24_en.
    • [2] https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32021R0607&from=EN.
    Last updated: 17 June 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – ETS maritime surcharges – E-001705/2025(ASW)

    Source: European Parliament

    All sectors, including maritime transport, need to contribute to the EU climate neutrality goal by 2050 and the EU Emissions Trading System (ETS) is a key policy to achieve this objective.

    While the ETS Directive[1] allows for the transfer of the ETS costs from the shipping company to another entity operating the ship, it does not regulate the pass-through of costs to shippers.

    The Commission’s report[2] on the monitoring of the ETS extension to maritime transport shows that shipping companies typically pass ETS costs to shippers, with a limited impact on overall transport prices in 2024, estimated between 1% and 5% for deep sea container services.

    A case study revealed that surcharges do not always reflect the EU ETS costs expected on specific routes, possibly due to shipping companies’ strategies in redistributing costs among their lines.

    Information to be published by 30 June 2025 in Thetis Monitoring, Reporting and Verification (MRV)[3] will detail ship level emissions reported by shipping companies under the ETS, possibly aiding shippers in their commercial discussions.

    In terms of effectiveness, companies passing on the ETS costs would generally incentivise their consumers to shift towards greener alternatives.

    At the same time, the ETS would continue incentivising investments in mitigation reduction solutions in synergy with other policies such as FuelEU Maritime[4].

    The Commission will continue closely monitoring the implementation of the ETS extension to maritime transport, with reports due every two years.

    The above-mentioned report should therefore be seen as the first step of an ongoing process providing the foundation for future analysis and for possible enhancements of the monitoring approach.

    • [1] Directive 2003/87/EC of the European Parliament and of the Council of 13 October 2003 establishing a scheme for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC (OJ L 275, 25.10.2003, p. 32).
    • [2] COM(2025) 110 final — https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex:52025DC0110.
    • [3] The dedicated Union information system developed and operated by the European Maritime Safety Agency that supports the implementation of Regulation (EU) 2015/757 — https://mrv.emsa.europa.eu/.
    • [4] Regulation (EU) 2023/1805 of the European Parliament and of the Council of 13 September 2023 on the use of renewable and low-carbon fuels in maritime transport, and amending Directive 2009/16/EC.

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Mobility poverty in the EU’s outermost regions – E-001290/2025(ASW)

    Source: European Parliament

    The Commission announced, in the Mid-term Review Communication[1], the launch of consultations for an updated strategy for the outermost regions to address their permanent constraints. Several EU instruments already include favourable conditions for their transport needs.

    The European Regional Development Fund[2] supports airport infrastructure only in these regions and compensates for airports’ higher operating costs.

    The Connecting Europe Facility[3] supports transport infrastructure with higher co-financing rates. Several Public Service Obligations ensure connectivity with outermost regions[4], and social aid schemes support air transport for their residents[5].

    Outermost regions benefit from specific provisions under transport-related climate legislation. Domestic flights and sea journeys between an outermost region and its Member State are exempted from the Emissions Trading System[6] until end 2030 and can be exempted under the FuelEU Maritime Regulation[7] until end 2029.

    Around EUR 1.6 billion was set aside from the Emissions Trading System revenues to cover price difference between the use of eligible sustainable aviation fuels and fossil kerosene, covering exceptionally the full difference at outermost regions’ airports.

    The Social Climate Fund regulation[8] requires that relevant Member States consider outermost regions’ specificities in their national plans.

    As set out in the communication COM(2025) 46 final The road to the next multiannual financial framework[9], the future budget will include a strengthened, modernised cohesion and growth policy, in partnership with national, regional and local authorities, including outermost regions.

    • [1] A modernised cohesion policy: the mid-term review, COM(2025) 163 final.
    • [2] Regulation (EU) 2021/1058 of the European Parliament and of the Council of 24 June 2021 on the European Regional Development Fund and on the Cohesion Fund. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02021R1058-20241224 .
    • [3] Regulation (EU) 2021/1153 of the European Parliament and of the Council of 7 July 2021 establishing the Connecting Europe Facility. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02021R1153-20240718.
    • [4] Regulation (EC) No 1008/2008 of the European Parliament and of the Council of 24 September 2008 on common rules for the operation of air services in the Community. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02008R1008-20201218.
    • [5] Based on Article 107(2)(a) of the Treaty on the Functioning of the European Union.
    • [6] Directive (EU) 2023/959 of the European Parliament and of the Council of 10 May 2023 amending Directive 2003/87/EC establishing a system for greenhouse gas emission allowance trading within the European Union and Decision (EU) 2015/1814 concerning the establishment and operation of a market stability reserve for the European Union greenhouse gas emission trading system. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02023L0959-20230516.
    • [7] Article 2(4) of Regulation (EU) 2023/1805 of the European Parliament and of the Council of 13 September 2023 on the use of renewable and low-carbon fuels in maritime transport, and amending Directive 2009/16/EC.
    • [8] Regulation (EU) 2023/955 establishing a Social Climate Fund and amending Regulation (EU) 2021/1060. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02023R0955-20240630.
    • [9] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex:52025DC0046.
    Last updated: 17 June 2025

    MIL OSI Europe News

  • MIL-OSI: Beneficient Announces Court Approval of GWG Litigation Settlement

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, June 17, 2025 (GLOBE NEWSWIRE) — Beneficient (NASDAQ: BENF) (“Beneficient,” “Ben” or the “Company”), a technology-enabled platform providing exit opportunities and primary capital solutions and related trust and custody services to holders of alternative assets through its proprietary online platform, AltAccess, today announced that the Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”) has approved the previously disclosed settlement agreement resolving all claims pending in the Bankruptcy Court under the previously disclosed lawsuits relating to GWG Holdings, Inc. (“GWG” and such litigation, the “GWG Litigation”) against the Company, its subsidiaries, and each of their current and former directors and officers (the “Beneficient Parties”). The settlement agreement remains subject to the approval of the District Court for the Northern District of Texas (the “Northern District Court”).

    As previously announced on March 10, 2025, the Company entered into a binding settlement agreement to resolve all claims in the GWG Litigation for a sum within applicable insurance policy limits. With the Bankruptcy Court’s approval, the settlement in the Bankruptcy Court is now final, subject to a 14-day period to appeal. The settlement resolves all claims filed in the Bankruptcy Court against the Beneficient Parties without any admission, concession or finding of any fault, liability or wrongdoing by the Company or any defendant.

    “We are pleased that the Bankruptcy Court has approved this settlement, allowing us to move forward with a renewed focus on executing our business strategy and creating value for our shareholders,” said a Company spokesperson.

    Following the settlement of the GWG Litigation in the Bankruptcy Court, other outstanding GWG-related claims against parties other than the Beneficient Parties remain outstanding, including certain claims against entities related to Beneficient’s founder and CEO to whom Beneficient owes certain indemnification obligations. The Company continues to support a vigorous defense against such claims.

    About Beneficent

    Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to democratize the global alternative asset investment market by providing traditionally underserved investors − mid-to-high net worth individuals, small-to-midsized institutions and General Partners seeking exit options, anchor commitments and valued-added services for their funds− with solutions that could help them unlock the value in their alternative assets. Ben’s AltQuote™ tool provides customers with a range of potential exit options within minutes, while customers can log on to the AltAccess® portal to explore opportunities and receive proposals in a secure online environment.

    Its subsidiary, Beneficient Fiduciary Financial, L.L.C., received its charter under the State of Kansas’ Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is subject to regulatory oversight by the Office of the State Bank Commissioner.

    For more information, visit www.trustben.com or follow us on LinkedIn.

    Contacts
    Matt Kreps 214-597-8200 mkreps@darrowir.com
    Michael Wetherington 214-284-1199 mwetherington@darrowir.com
    investors@beneficient.com  

    Forward Looking Statements

    Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding approval of the settlement agreement by the Northern District Court, any potential appellate proceedings in the Bankruptcy Court and the outstanding GWG-related claims against entities related to the Company’s founder and CEO to whom the Company owes certain indemnification obligations. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected.

    Important factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, among others, the risks, uncertainties, and factors set forth under “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and its subsequently filed Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date they are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events, or circumstances or other changes affecting such statements except to the extent required by applicable law.

    Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    The MIL Network

  • MIL-OSI: Beneficient Announces Court Approval of GWG Litigation Settlement

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, June 17, 2025 (GLOBE NEWSWIRE) — Beneficient (NASDAQ: BENF) (“Beneficient,” “Ben” or the “Company”), a technology-enabled platform providing exit opportunities and primary capital solutions and related trust and custody services to holders of alternative assets through its proprietary online platform, AltAccess, today announced that the Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”) has approved the previously disclosed settlement agreement resolving all claims pending in the Bankruptcy Court under the previously disclosed lawsuits relating to GWG Holdings, Inc. (“GWG” and such litigation, the “GWG Litigation”) against the Company, its subsidiaries, and each of their current and former directors and officers (the “Beneficient Parties”). The settlement agreement remains subject to the approval of the District Court for the Northern District of Texas (the “Northern District Court”).

    As previously announced on March 10, 2025, the Company entered into a binding settlement agreement to resolve all claims in the GWG Litigation for a sum within applicable insurance policy limits. With the Bankruptcy Court’s approval, the settlement in the Bankruptcy Court is now final, subject to a 14-day period to appeal. The settlement resolves all claims filed in the Bankruptcy Court against the Beneficient Parties without any admission, concession or finding of any fault, liability or wrongdoing by the Company or any defendant.

    “We are pleased that the Bankruptcy Court has approved this settlement, allowing us to move forward with a renewed focus on executing our business strategy and creating value for our shareholders,” said a Company spokesperson.

    Following the settlement of the GWG Litigation in the Bankruptcy Court, other outstanding GWG-related claims against parties other than the Beneficient Parties remain outstanding, including certain claims against entities related to Beneficient’s founder and CEO to whom Beneficient owes certain indemnification obligations. The Company continues to support a vigorous defense against such claims.

    About Beneficent

    Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to democratize the global alternative asset investment market by providing traditionally underserved investors − mid-to-high net worth individuals, small-to-midsized institutions and General Partners seeking exit options, anchor commitments and valued-added services for their funds− with solutions that could help them unlock the value in their alternative assets. Ben’s AltQuote™ tool provides customers with a range of potential exit options within minutes, while customers can log on to the AltAccess® portal to explore opportunities and receive proposals in a secure online environment.

    Its subsidiary, Beneficient Fiduciary Financial, L.L.C., received its charter under the State of Kansas’ Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is subject to regulatory oversight by the Office of the State Bank Commissioner.

    For more information, visit www.trustben.com or follow us on LinkedIn.

    Contacts
    Matt Kreps 214-597-8200 mkreps@darrowir.com
    Michael Wetherington 214-284-1199 mwetherington@darrowir.com
    investors@beneficient.com  

    Forward Looking Statements

    Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding approval of the settlement agreement by the Northern District Court, any potential appellate proceedings in the Bankruptcy Court and the outstanding GWG-related claims against entities related to the Company’s founder and CEO to whom the Company owes certain indemnification obligations. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected.

    Important factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, among others, the risks, uncertainties, and factors set forth under “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and its subsequently filed Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date they are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events, or circumstances or other changes affecting such statements except to the extent required by applicable law.

    Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    The MIL Network

  • MIL-OSI Economics: Gent Sejko: Launching of the EBRD Transition Report 2024-25

    Source: Bank for International Settlements

    Dear guests, colleagues and friends,

    It is a special pleasure for me to be with you hosting the presentation of the Transition Report 2024-25 by the European Bank for Reconstruction and Development (EBRD).

    The Transition Report 2024-25 provides an in-depth analysis of a highly dynamic issue of nowadays: the reformulation of industrial policies in a global context shaped by new challenges and opportunities.  The EBRD, while placing it at the heart of this year’s Report, highlights the increasing complexity and strategic rebound of industrial policies as a tool to address structural changes in both advanced and developing economies in the 21st century.

    Nowadays, these policies in addition to being considered as a merely tool supporting the existing industries, should also be seen as a lever for establishing diversified and innovative economies. For more than two decades, in Albania and the region, we have prioritized structural reforms that build strong institutions, improve the business climate, and create an open and competitive economy. Over the past five years, these reforms have contributed to an average economic growth of 3.5–4%, a reduction in unemployment to 11.3% in 2024, and a 7% growth in private consumption. These reforms have been-and remain-essential, but today, they are no longer sufficient, as we face a completely different global reality.

    • Geopolitical tensions have caused a 30% increase in the cost of global supply chains since 2020.
    • According to WTO, trade fragmentation has reduced the global trade flow by 5.4% in 2023.
    • Reindustrialization policies in advanced economies (e.g., the Inflation Reduction Act in the USA and the EU Green Deal) which now channel over 80% of global investments in clean technologies.  

    Many economies-including our economy-are currently facing a demographic decline, changes in the labour market, and sectoral imbalances. In this context, the debate on industrial policies has shifted from discussion to clear, data-driven strategies.

    What does this mean in practice?

    First, we need to understand that today’s industrial policies are not about protecting old industries, in contrary they promote sectors of the future-those that can grow, scale up, and create sustainable value. For many EBRD countries, including Albania, the path to growth through traditional industrial exports has become more difficult. In its place, a new opportunity is emerging: the export of digitalized and internationally tradable services.

    These “global innovation services”- such as information technology, design, logistics, and data analysis-are at the heart of productivity growth and added value. But to develop them, strong foundations are needed, such as: investments in education, a skilled workforce, modern digital infrastructure, and high institutional capacities. Some Central and Eastern European economies have already become leading exporters in the field of computer services. Albania also has the potential to follow this path.

    Second, the policies we undertake must be aligned with the European integration process. As a small and open economy, with 70% of trade oriented towards the EU, Albania has much to gain by moving towards the European Union convergence. Moreover, membership in SEPA brings us closer to European markets and reduces international transaction costs by 30%.

    Third, we should ensure inclusion and sustainability. Industrial policies, in addition to focusing on sectors where we have potential to win in global markets, should also focus on those that are vital for employment and social cohesion within Albania. Specific-tailored local policies should underpin industrial policies, such as special economic zones-and be carefully designed, by emphasizing local and regional specific characteristics.

    Fourth, state aid should be directed on firms with high potential. Data show that new and dynamic firms are the main drivers of employment and innovation. Policies aimed at stimulating them-such as loan guarantees, subsidized interest loans, or government-backed venture capital funds-can make a big difference.

    Dear guests,

    In this debate on industrial policy and development directions, the role of the central bank, although not direct, is special and irreplaceable.

    The central bank does not compile industrial policies, but it contributes to them as a guarantor of macroeconomic and financial stability-a fundamental condition for any sustainable development. Today, we can say that the Albanian economy continues to grow (GDP grew by 4% in 2024, inflation remained at 2%, private credit increased by 16.7%, and the non-performing loans ratio has dropped to a historic low of 4%). These facts reflect a sound, stable financial system able to support the real sector.

    Price stability, functional financial systems, a banking sector, and a modern payment system that serves the real economy-are important prerequisites for long-term investment and sustainable development of the country. Beyond this, the Bank of Albania is also providing a significant contribution to improving financial inclusion through innovations in payment systems and membership in SEPA, the institutionalization of the basic account, effective supervision, financial education, and the promotion of financial innovation. These interventions open new markets and opportunities, so the Bank of Albania will continue to contribute to all these areas with dedication and professionalism.

    Concluding, I invite you to be ambitious yet prudent; to design industrial policies that are smart, inclusive, and aligned with our long-term aspirations. Above all, let us invest not only in sectors of economy, but also in people as the basic unit of the workforce, as well as in institutions and infrastructure that will define the Albania of tomorrow, in our path towards European integration, as a space of opportunities for continuous transformation.

    Thank You!

    MIL OSI Economics

  • MIL-OSI Economics: Gent Sejko: Launching of the EBRD Transition Report 2024-25

    Source: Bank for International Settlements

    Dear guests, colleagues and friends,

    It is a special pleasure for me to be with you hosting the presentation of the Transition Report 2024-25 by the European Bank for Reconstruction and Development (EBRD).

    The Transition Report 2024-25 provides an in-depth analysis of a highly dynamic issue of nowadays: the reformulation of industrial policies in a global context shaped by new challenges and opportunities.  The EBRD, while placing it at the heart of this year’s Report, highlights the increasing complexity and strategic rebound of industrial policies as a tool to address structural changes in both advanced and developing economies in the 21st century.

    Nowadays, these policies in addition to being considered as a merely tool supporting the existing industries, should also be seen as a lever for establishing diversified and innovative economies. For more than two decades, in Albania and the region, we have prioritized structural reforms that build strong institutions, improve the business climate, and create an open and competitive economy. Over the past five years, these reforms have contributed to an average economic growth of 3.5–4%, a reduction in unemployment to 11.3% in 2024, and a 7% growth in private consumption. These reforms have been-and remain-essential, but today, they are no longer sufficient, as we face a completely different global reality.

    • Geopolitical tensions have caused a 30% increase in the cost of global supply chains since 2020.
    • According to WTO, trade fragmentation has reduced the global trade flow by 5.4% in 2023.
    • Reindustrialization policies in advanced economies (e.g., the Inflation Reduction Act in the USA and the EU Green Deal) which now channel over 80% of global investments in clean technologies.  

    Many economies-including our economy-are currently facing a demographic decline, changes in the labour market, and sectoral imbalances. In this context, the debate on industrial policies has shifted from discussion to clear, data-driven strategies.

    What does this mean in practice?

    First, we need to understand that today’s industrial policies are not about protecting old industries, in contrary they promote sectors of the future-those that can grow, scale up, and create sustainable value. For many EBRD countries, including Albania, the path to growth through traditional industrial exports has become more difficult. In its place, a new opportunity is emerging: the export of digitalized and internationally tradable services.

    These “global innovation services”- such as information technology, design, logistics, and data analysis-are at the heart of productivity growth and added value. But to develop them, strong foundations are needed, such as: investments in education, a skilled workforce, modern digital infrastructure, and high institutional capacities. Some Central and Eastern European economies have already become leading exporters in the field of computer services. Albania also has the potential to follow this path.

    Second, the policies we undertake must be aligned with the European integration process. As a small and open economy, with 70% of trade oriented towards the EU, Albania has much to gain by moving towards the European Union convergence. Moreover, membership in SEPA brings us closer to European markets and reduces international transaction costs by 30%.

    Third, we should ensure inclusion and sustainability. Industrial policies, in addition to focusing on sectors where we have potential to win in global markets, should also focus on those that are vital for employment and social cohesion within Albania. Specific-tailored local policies should underpin industrial policies, such as special economic zones-and be carefully designed, by emphasizing local and regional specific characteristics.

    Fourth, state aid should be directed on firms with high potential. Data show that new and dynamic firms are the main drivers of employment and innovation. Policies aimed at stimulating them-such as loan guarantees, subsidized interest loans, or government-backed venture capital funds-can make a big difference.

    Dear guests,

    In this debate on industrial policy and development directions, the role of the central bank, although not direct, is special and irreplaceable.

    The central bank does not compile industrial policies, but it contributes to them as a guarantor of macroeconomic and financial stability-a fundamental condition for any sustainable development. Today, we can say that the Albanian economy continues to grow (GDP grew by 4% in 2024, inflation remained at 2%, private credit increased by 16.7%, and the non-performing loans ratio has dropped to a historic low of 4%). These facts reflect a sound, stable financial system able to support the real sector.

    Price stability, functional financial systems, a banking sector, and a modern payment system that serves the real economy-are important prerequisites for long-term investment and sustainable development of the country. Beyond this, the Bank of Albania is also providing a significant contribution to improving financial inclusion through innovations in payment systems and membership in SEPA, the institutionalization of the basic account, effective supervision, financial education, and the promotion of financial innovation. These interventions open new markets and opportunities, so the Bank of Albania will continue to contribute to all these areas with dedication and professionalism.

    Concluding, I invite you to be ambitious yet prudent; to design industrial policies that are smart, inclusive, and aligned with our long-term aspirations. Above all, let us invest not only in sectors of economy, but also in people as the basic unit of the workforce, as well as in institutions and infrastructure that will define the Albania of tomorrow, in our path towards European integration, as a space of opportunities for continuous transformation.

    Thank You!

    MIL OSI Economics

  • World oil demand to keep growing this decade despite 2027 China peak, IEA says

    Source: Government of India

    Source: Government of India (4)

    Global oil demand will keep growing until around the end of this decade despite peaking in top importer China in 2027, as cheaper gasoline and slower electric vehicle adoption in the United States support consumption, the International Energy Agency said on Tuesday.

    The IEA, which advises industrialised countries, did not change its prediction that demand will peak by 2029, but sees China demand peaking earlier due to growth in electric vehicles.

    Its view that global demand will peak in a few years sharply contrasts with that of producer group the Organization of the Petroleum Exporting Countries (OPEC) which says consumption will keep growing and has not forecast a peak.

    Oil demand will peak at 105.6 million barrels per day (bpd) by 2029 and then fall slightly in 2030, a table in the Paris-based IEA’s annual report shows. At the same time, global production capacity is forecast to rise by more than 5 million bpd to 114.7 million bpd by 2030.

    A conflict between Israel and Iran has highlighted the risk to Middle East supplies, helping send oil prices up 5% to above $74 a barrel on Friday. Still, the latest forecasts suggest ample supplies through 2030 if there are no major disruptions, the IEA said.

    “Based on the fundamentals, oil markets look set to be well-supplied in the years ahead,” said IEA Executive Director Fatih Birol in a statement. “But recent events sharply highlight the significant geopolitical risks to oil supply security,” Birol said.

    In a separate report on Tuesday, which included a commentary on the market impact of the Israel-Iran conflict, the IEA said the world market looks well supplied this year in the absence of a major disruption as growth in supply exceeds that of demand.

    World demand will rise by 720,000 bpd this year, the IEA said, down 20,000 bpd from last month’s forecast. Supply will increase by 1.8 million bpd, up 200,000 bpd from last month, partly due to OPEC+ increasing output.

    CHINA PEAK

    After decades of leading global oil demand growth, China’s contribution is sputtering as it faces economic challenges as well as making a big shift to EVs.

    The world’s second-largest economy is set to see its oil consumption peak in 2027, following a surge in EV sales and the deployment of high-speed rail and trucks running on natural gas, the IEA said. In February, it predicted China’s demand for road and air transport fuels may have already peaked.

    China’s total oil consumption in 2030 is now set to be only marginally higher than in 2024, the IEA said, compared with growth of around 1 million bpd forecast in last year’s report.

    By contrast, lower gasoline prices and slower EV adoption in the United States, the world’s largest oil consumer, have boosted the 2030 oil demand forecast by 1.1 million bpd compared with the previous prediction, the IEA said.

    U.S. electric vehicles are now expected to account for 20% of U.S. total car sales in 2030, down from 55% assumed last year, the report said.

    Since returning to office, U.S. President Donald Trump has demanded OPEC lower oil prices and has taken aim at EVs through steps such as signing resolutions approved by lawmakers barring California’s EV sales mandates.

    (Reuters0

  • MIL-OSI Russia: Urgent: China Ready to Work with Turkmenistan to Fully Unleash Win-Win Cooperation Potential — Xi Jinping

    Translation. Region: Russian Federal

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

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

    ASTANA, June 17 (Xinhua) — China is ready to cooperate with Turkmenistan to fully unleash the potential of cooperation based on mutual respect and win-win cooperation, Chinese President Xi Jinping said Tuesday during a meeting with Turkmen President Serdar Berdimuhamedov on the sidelines of the second China-Central Asia Summit in Astana, the capital of Kazakhstan.

    The Chinese leader called on China and Turkmenistan to step up cooperation in the field of natural gas, explore opportunities for cooperation in non-resource sectors, and optimize the structure of trade. He called on both sides to speed up the establishment of cultural centers in both countries, promoting the interconnectedness between their peoples.

    Xi Jinping said China supports Turkmenistan’s accession to the World Trade Organization. –0–

    MIL OSI Russia News

  • MIL-OSI United Kingdom: UN Human Rights Council 59: UK Statement for the Interactive Dialogue with the High Commissioner on his Annual Report

    Source: United Kingdom – Executive Government & Departments

    Speech

    UN Human Rights Council 59: UK Statement for the Interactive Dialogue with the High Commissioner on his Annual Report

    UK Statement for the Interactive Dialogue with the High Commissioner on his Annual Report. Delivered by the UK’s Permanent Representative to the WTO and UN, Simon Manley.

    Thank you, Mr President.

    High Commissioner.

    We agree that we must protect human rights as a core UN function and support your efforts – through UN80 – to make the Organisation fit-for-purpose. The world’s human rights challenges demand a modern, agile United Nations.

    In Gaza, the humanitarian situation is indeed catastrophic and the Israeli aid model inhumane. We condemn Hamas, and call for an immediate ceasefire, the release of all hostages, the immediate resumption of unhindered aid at scale and progress towards a two-state solution. In the West Bank, the Israeli Government must stop the expansion of illegal settlements and hold violent settlers to account.

    High Commissioner,

    Three years after the publication of your office’s assessment on Xinjiang, China has, sadly, failed to implement its recommendations. We urge China to end its violations in both Xinjiang and Tibet, and to allow unfettered access by independent observers.

    You rightly drew our attention to Sudan’s further descent into chaos marked by indiscriminate attacks, sexual violence, and malnutrition, with 11 million people internally displaced. We condemn the atrocities and call for the perpetrators to be held to account. Sudan must not – will not – be forgotten. 

    Last but not least, as we made clear yesterday afternoon, we share your concern at the horrific situation in the eastern DRC. It’s well beyond time to end the extrajudicial killings, the enforced disappearances, the sexual violence and the child recruitment.

    Thank you.

    Updates to this page

    Published 17 June 2025

    MIL OSI United Kingdom

  • MIL-OSI: Bitget Joins Forces with Sweat Wallet as A Main Sponsor of Crypto Conference Zrce Beach 2025

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, June 17, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, is proud to announce its participation as the main sponsor of the highly anticipated Crypto Conference Zrce Beach 2025, taking place from June 18–21 at the iconic Noa Beach Club and Rocks Club.

    Bringing together the energy of a summer festival with the vision of decentralized innovation, the four-day event will transform Zrce Beach into Europe’s most vibrant hub for blockchain networking, immersive experiences, and cutting-edge education.

    Organized by some of the most recognized voices in the crypto scene, the event will welcome over 200 traders, builders, creators, and Web3 pioneers for an unforgettable mix of panels, workshops, and community activations. Taking place within one of Europe’s most iconic beach festivals, the wider event is expected to attract thousands of attendees, creating an exciting opportunity to blend blockchain culture with mainstream energy.

    From sunrise networking to sunset DJ sets, the program is packed with high-energy highlights. Attendees can look forward to live crypto talks on stage, in-depth conversations with respected voices in the space, competitive challenges with exclusive prizes, and unique experiences such as an influencer-hosted barbecue and adrenaline-pumping jet ski rides. Prominent speakers like Didi Random, JayTrading and many others will be sharing knowledge on topics ranging from Bitcoin fundamentals to market dynamics.

    In this strategic move toward user education, Bitget has joined forces with SWEAT and its Sweat Wallet app to launch an immersive experience—The Crypto Treasure Hunt. Open to all festival participants, this unique experience offers an entertaining way to get connected with the Web3 ecosystem.

    “This partnership with SWEAT is a perfect reflection of Bitget’s vision: making Web3 accessible, secure, and genuinely fun,” Vugar Usi Zade, COO at Bitget. “We’re here to build an accessible and compliant crypto ecosystem, expanding our horizons to various communities worldwide,” he added.

    “We’re turning physical activity into financial empowerment,” declared SWEAT Co-founder and CEO Oleg Fomenko. “This is about rewarding the most natural human behavior, movement, with digital ownership, and we’re excited to deepen our strategic partnership with Bitget during this event.”

    Crypto Conference Zrce Beach 2025 represents more than just a festival or conference, it’s a movement toward building stronger crypto communities through real-life interaction, education, and celebration. With music, knowledge, adventure, and collaboration all in one place, Bitget is reinforcing its role as a catalyst for the next generation of blockchain adoption.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin priceEthereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform.
    Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist), and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    For more information, visit: WebsiteTwitterTelegramLinkedInDiscordBitget Wallet
    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice.

    About SWEAT

    SWEAT is a Web3 platform that encourages physical activity by rewarding users for moving. It uses $SWEAT, a token earned through steps, to turn movement into value to be used, grown, traded and spent in the Movement Economy. The token is stored in the SWEAT Wallet, a mobile app with 20+ million downloads and over 3 million monthly active users. By downloading SWEAT Wallet for free, users globally can start to earn $SWEAT and join the Movement Economy, where every step counts.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3d6fc0eb-0930-44e6-a643-b965e8f980fb

    The MIL Network

  • MIL-OSI Russia: The 3rd China International Supply Chain Promotion Expo will establish a new zone dedicated to supply chain innovation

    Translation. Region: Russian Federal

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

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

    BEIJING, June 17 (Xinhua) — The 3rd China International Supply Chain Expo (CISCE) to be held in July will set up a special exhibition area dedicated to supply chain innovation, the event organizer said Tuesday.

    The new exhibition platform aims to promote the commercialization of technologies developed in laboratories and the smooth integration of innovation and industrial chains, according to the China Council for the Promotion of International Trade (CCPIT).

    According to CCPIT, this year more than 230 domestic and foreign companies will take part in the exhibition for the first time, including the American technology giant NVIDIA.

    Preparations for the upcoming exhibition are currently underway. At present, 650 companies from 75 countries, regions and international organizations have confirmed their participation. More than 65 percent of exhibitors are Global Fortune 500 companies or leading enterprises in the industry, while overseas exhibitors account for 35 percent of the total number of participants.

    The third CISCE will be held in Beijing from July 16 to 20, and Thailand will be invited as the guest of honor.

    It is the world’s first national-level supply chain exhibition that has become an international public product. According to CCPIT, the exhibition, first held in 2023, has contributed to building safer, more stable, more open and more inclusive global industrial and supply chains. -0-

    MIL OSI Russia News

  • MIL-OSI United Kingdom: British aerospace manufacturers to benefit from UK-US trade deal

    Source: United Kingdom – Executive Government & Departments

    Press release

    British aerospace manufacturers to benefit from UK-US trade deal

    British aerospace manufacturers to benefit from UK-US trade deal as further details announced

    • UK aerospace sector to see tariffs removed completely as further progress is made on the UK-US trade deal
    • Benefits of deal to be felt by UK auto sector also, who will be able to export to the US by the end of the month under the newly lowered 10% tariff quota 
    • It will save hundreds of millions annually for plane and car makers with lowered tariffs and protect tens of thousands of jobs across both sectors , delivering on our Plan for Change

    For the first time, the US has committed to reducing tariffs on UK aerospace goods such as engines and similar aircraft parts from the general 10% tariff being applied to all other countries, which is expected to come into force by the end of the month.

    This deal is a huge win for the UK’s world-class aerospace sector currently facing additional 10% tariffs, helping make companies such as Rolls Royce more competitive and allowing them to continue to be at the cutting edge of innovation. 

    British car manufacturers can also breathe a sigh of relief as they will be able to export to the US at a 10% tariff rate as part of the recently agreed landmark UK-US trade deal by the end of the month.  

    The UK is the only country to have secured this agreement with the US which reduces car export tariffs from 27.5%, saves car manufacturers hundreds of millions a year, and protects tens of thousands of jobs, delivering on our Plan for Change.

    Business and Trade Secretary, Jonathan Reynolds said: 

    We agreed this deal with the US to ensure jobs and livelihoods in some of our most vital sectors were protected, and since then we have been focused on delivering those benefits to businesses. 

    Bringing trade deals into force can take several months, yet we are delivering on the first set of agreements in a matter of weeks. And we won’t stop there. 

    As part of our Plan for Change, this government is doing all it can to reduce the pressures on businesses by lowering costs, speeding up delivery times and helping them to navigate in a time of global uncertainty.  

    Chief Executive of the Society of Motor Manufacturers and Traders (SMMT), Mike Hawes said:

    This is great news for the UK automotive industry, helping the sector avoid the severest level of tariffs and enabling many manufacturers to resume deliveries imminently.

    We wait to see the full details of the deal and how it will be administered but this will be a huge reassurance to those that work in the sector and bolster the confidence of our important US customers.

    The fact the UK has secured a deal, ahead of many competitors, and which makes automotive a priority, should be recognised as a significant achievement.

    Thanks to the UK-US deal, the UK is the only country to be exempt from the global tariff of 50% on steel and aluminium. As the Prime Minister and President Trump have again confirmed, we will continue to go further and make progress towards 0% tariffs on core steel products as agreed.  

    We have agreed reciprocal access to 13,000 metric tonnes beef for both US and British farmers – meaning the UK can export to the US too. We have been clear that any US imports will need to meet UK food safety standards, and that has not changed since we agreed this deal.

    Both countries remain focused on securing significantly preferential outcomes for the UK pharmaceutical sector and work will continue to protect industry from any further tariffs imposed as part of Section 232 investigations. 

    This deal is one of many international agreements this government has secured recently to boost our economy, including a trade deal with India which will add £4.8 billion to the UK economy and £2.2 billion in wages every year and a renewed EU deal which will add nearly £9 billion to the UK economy by 2040 on SPS and emissions measures alone. 

    Today’s announcement is the result of work happening at pace between both governments to lower the burden on UK businesses, especially the sectors most impacted by the tariffs. We will update Parliament on the implementation of quotas on US beef and ethanol, part of our commitment to the US under this deal.

    Updates to this page

    Published 17 June 2025

    MIL OSI United Kingdom

  • MIL-OSI China: 3rd supply chain expo to add new area for innovation chain

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

    An exhibition area for innovation chain will be added to the third China International Supply Chain Expo (CISCE) in July, the event organizer said at a press briefing on Tuesday.

    The new exhibition area aims to promote the commercialization of technologies developed in laboratories and advance the seamless integration between innovation chain and industrial chain, said China Council for the Promotion of International Trade (CCPIT).

    More than 230 domestic and international companies are set to make their debut at this year’s expo, including the U.S. tech giant NVIDIA, according to the CCPIT.

    Preparations for the upcoming expo are currently underway. So far, 650 companies from 75 countries, regions and international organizations have confirmed their participation. Over 65 percent of exhibitors are Global Fortune 500 companies or industry leaders, while overseas participants account for 35 percent of the total.

    The third CISCE will take place in Beijing from July 16 to 20, with Thailand as the guest country of honor.

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

    MIL OSI China News

  • MIL-OSI: IDEX Biometrics ASA: Registration of share capital increase – 17 June 2025

    Source: GlobeNewswire (MIL-OSI)

    Reference is made to the announcement by IDEX Biometrics ASA (the “Company”) on 11 April 2025 regarding the 11 April 2025 Extraordinary General Meeting’s resolution to carry out a subsequent offering by issuance of up to 600,000,000 new shares in the Company. Reference is also made to the announcement on 6 June 2025 regarding the subsequent offering being 8x oversubscribed, resulting in the issuance of 600,000,000 new shares at a subscription price per share of NOK 0.01, raising gross proceeds of NOK 6 million.

    The share capital increase has duly been registered in the Norwegian Register of Business Enterprises. Following the share capital increase, the Company’s share capital is NOK 44,316,309.99 divided into 4,431,630,999 shares, each with a nominal value of NOK 0.01.

    For further information contact:

    Kristian Flaten, CFO

    E-mail: ir@idexbiometrics.com

    Tel: +47 95092322

    About IDEX Biometrics

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

    For more information, visit www.idexbiometrics.com

    About this notice

    This notice was published by Kristian Flaten, CFO, 17 June 2025 at 10:42 CET on behalf of IDEX Biometrics ASA.  This information is subject to the disclosure requirements pursuant to the Norwegian Securities Trading Act section 5-12.

    The MIL Network

  • MIL-OSI United Kingdom: UN Human Rights Council 59: UK Statement on the Fact-Finding Mission on the eastern Democratic Republic of Congo

    Source: United Kingdom – Executive Government & Departments

    Speech

    UN Human Rights Council 59: UK Statement on the Fact-Finding Mission on the eastern Democratic Republic of Congo

    Statement for the Enhanced Interactive Dialogue on the Oral Update of the FFM on the eastern DRC. Delivered by the UK’s Permanent Representative to the WTO and UN, Simon Manley.

    Thank you, Mr Vice President.

    Let me thank the High Commissioner and the Fact-Finding Mission for their important, indeed chilling, update on the situation in eastern DRC.

    The UK is deeply concerned by the devastating accounts of human rights abuses and violations perpetrated by all parties to the conflict.

    The reported extrajudicial killings, arbitrary detention, sexual violence and forced recruitment of children are simply horrendous.  As are accounts of Rwandan Defence Forces and M23 entrenching administrative control through violence, displacing  civilians, targeting civil society, and  dismantling  legal and civil institutions.

    We urge all parties to protect human rights, respect international humanitarian law and engage meaningfully with the peace processes.

    We also reiterate our call on the DRC to reconsider its decision to lift the moratorium on the death penalty.

    Mr Vice President, we remain convinced that this Council must use all the mechanisms available to investigate reports of human rights violations and abuses in the eastern DRC, identify the perpetrators and end impunity once and for all.

    Mr Vice President, I listened carefully to what the High Commissioner said about the challenges in establishing the independent Commission of Inquiry to continue the Fact-Finding Mission’s important work, but I do think we should try harder to fulfil this Council’s mandate.

    Thank you.

    Updates to this page

    Published 17 June 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Government appoints Emma Jones CBE as new Small Business Commissioner to help tackle late payments

    Source: United Kingdom – Executive Government & Departments

    Press release

    Government appoints Emma Jones CBE as new Small Business Commissioner to help tackle late payments

    Government appoints new Small Business Commissioner as part of efforts to boost SMEs and tackle late payments

    • The new Small Business Commissioner has been appointed to take a leading role in tackling late payments and unfair payment practices 

    • Jones brings wealth of entrepreneurial experience as founder of Enterprise Nation to support UK’s 5.5m small businesses 

    • Appointment reinforces government commitment to creating fair business environment as part of Plan for Change 

    As part of the Government’s mission to support small businesses, Emma Jones CBE, founder of Enterprise Nation, has today been announced as the new Small Business Commissioner. 

    She will take up the role on 23rd June 2025 following the completion of Liz Barclay’s four-year term as the current Commissioner.  

    Liz Barclay was instrumental in designing and delivering the new Fair Payment Code which launched in December 2024.  

    Since then, over 300 businesses have already become Fair Payment Code awardees with a commitment to paying their suppliers quickly.  

    Liz has also played a key role in helping design potential future legislative measures to tackle late payments and long payment terms, with a major consultation set to be published in the coming months. 

    Small Business Minister Gareth Thomas said: 

    “I’m delighted that in Emma Jones’s appointment, we have someone who has long championed small firms and entrepreneurs right across the UK. I am confident that her passion and expertise will ensure small firms have a powerful advocate fighting in their corner. 

    “As part of our Plan for Change, I’m determined to make the UK the world’s best place to be an SME, tackling late payments, improving access to finance and getting more small firms exporting around the world – and today’s appointment is a crucial part of that process. 

    “And I want to thank Liz Barclay for her work over the past four years as Commissioner, during which time she has worked tirelessly in supporting the nation’s small businesses.” 

    In her new position, Emma will be a key player in tackling late payments and long payment terms for small businesses and the self-employed. This Government is committed to tackling this problem, which has for too long been a scourge for small businesses. Research has found that in 2024, SMEs were owed on average £21,400 in late payments.

    New Small Business Commissioner Emma Jones CBE said: 

    “Having done it myself, I know the commitment it takes to start and grow a successful business. Founders tell me they are time poor and spending too many precious hours on non-productive work like chasing debt. This is limiting their capacity to focus on growth and we want to change that.

    “Through the Office of the Small Business Commissioner, we will make life easier for small business owners by leveraging technology to speed up payments and access to support.

    “This work will be delivered in partnership with government and industry with a shared desire to enable founders to focus on what they do best and retain the UK’s status as a great place to start and grow a business.”

    The Small Business Commissioner plays a vital role in supporting the UK’s 5.5 million small businesses by working to ensure they are treated fairly by larger companies and can access the support they need to thrive. The office also provides practical advice and resources to help small businesses resolve payment disputes and navigate commercial challenges. 

    The appointment furthers the government’s agenda to create a fair and supportive environment for small businesses to thrive, recognising their critical role in job creation, economic growth and community prosperity across the UK. 

    The Government has already announced a raft of measures to support small firms across the country. 

    A revamped Board of Trade tasked with helping more small firms was launched earlier this year, and comes ahead of a major consultation to tackle the scourge of late payments. 

    Last year, the Treasury extended business rates relief for the hospitality sector and the Business Secretary announced a new Business Growth Service to make it easier and quicker for SMEs to access and benefit from the right government advice and support for their business. 

    This appointment has been made in accordance with the Cabinet Office’s Governance Code on Public Appointments. 

    Updates to this page

    Published 17 June 2025

    MIL OSI United Kingdom

  • MIL-OSI Russia: SPbPU Strengthens Positions in the National Project “Unmanned Aircraft Systems”

    Translation. Region: Russian Federal

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    The BAS personnel forum was held in Tolyatti at the Zhigulevskaya Dolina technology park. It was a joint event of the University 2035, the Government of the Samara Region and the business publication Vedomosti.

    The forum platform became a place for exchanging best practices, dialogue on partnership and discussion of tasks for developing human resources potential in the unmanned aircraft systems (UAS) industry. The plenary session “UAS Labor Market – 2025: Current Results” was attended by Deputy Minister of Science and Higher Education of the Russian Federation Dmitry Afanasyev, Vice-Governor of the Samara Region Anton Emelyanenko, Rector of the University 2035 Dmitry Kaisin, Deputy Minister of Industry and Trade of the Russian Federation Vasily Shpak.

    Representatives of SPbPU took an active part in panel discussions and round tables devoted to personnel training, best practices of network interaction and the formation of engineering teams: Vice-Rector for Continuing and Pre-University Education Dmitry Tikhonov and Director of the Higher School of Transport of IMMiT Alexey Grachev.

    The national project “Unmanned Aircraft Systems” is the first national project of technological leadership. It has been implemented since 2024, and within the framework of the federal project “Personnel for UAS”, more than 10,000 people were trained last year.

    Polytechnic is an active participant in the project in terms of educational initiatives. Our projects have already been presented atlast year’s forum; we are performing providers both in the preparation of youth engineering teams andin ALS training in general. The university also invests in infrastructure — simulators, copters — and implements programs for schools. I am confident that the new academic year will bring new experience and new successful programs, — noted Dmitry Tikhonov.

    The forum included a tour of the UAS Samara research and production center, where participants saw the full production cycle of unmanned aerial vehicles, their testing at virtual and real sites, and also evaluated innovative developments and watched drone pilot competitions.

    One of the key topics of the forum was youth engineering teams (YET). This training format embodies the principle of “training through practice”, which is especially important in the context of a personnel shortage in the new industry. The main feature is the selection of teams to solve real problems of industrial partners, and the result is not only the acquisition of knowledge, but also the defense of the project.

    This format can unite not only students under the guidance of mentors, but also industrial partners. To solve problems, cooperation with software development companies, raw material suppliers, manufacturers and operating organizations is required. It is possible to get not only trained personnel and new partnerships, but also a practically ready-made, in-demand product. It is worth noting that this format requires its own infrastructure – from workplaces to test sites, but, as practice shows, when there is a goal and a close-knit team, solutions are found, and customers – industrial partners and UAS operators – provide comprehensive support, – says Alexey Grachev, who went the full way with MIC last year.

    In parallel with the forum, a working meeting on prospects for cooperation in the field of additional professional education was held at Samara University. Last year, the Polytechnic University and Samara University already implemented a network program for professional retraining “Design and Construction of an Unmanned Aerial Vehicle”. Now the partners discussed prospects for training academic staff and continuing cooperation on national projects of technological leadership.

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

    MIL OSI Russia News

  • MIL-OSI: Municipality Finance issues EUR 10 million zero coupon notes under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    17 June 2025 at 10:00 am (EEST)

    Municipality Finance issues EUR 10 million zero coupon notes under its MTN programme

    Municipality Finance Plc issues EUR 10 million zero coupon notes on 18 June 2025. The maturity date of the notes is 18 June 2065. MuniFin has a right, but no obligation, to redeem the notes early on 18 June 2035.

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

    MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 18 June 2025.

    Goldman Sachs Bank Europe SE acts as the dealer for the issue of the notes.

    MUNICIPALITY FINANCE PLC

    Further information:

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

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

    MuniFin builds a better and more sustainable future with its customers. MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, corporate entities under their control, and non-profit organisations nominated by the Housing Finance and Development Centre of Finland (ARA). Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

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

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

    Important Information

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

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

    The MIL Network

  • MIL-OSI Africa: Beninese small business gain international presence and know-how

    Source: Africa Press Organisation – English (2) – Report:

    Download logo

    Benin wants to grow its exports, especially by small businesses working in food and technology. The African country believes this is the best way to lift its economy from the ranks of least developed countries.

    A key milestone in that effort is the creation of a new Pôle Export, a platform that will make it easier for entrepreneurs to enter international markets.

    Pôle Export is the centrepiece of a project at the Interantional Trade Centre (ITC), which is working with both the government and with small businesses to boost the country’s exports.

    The government has created new Directorate for Export Promotion, known by its French acronym DPE. It sits within the Import and Export Promotion Agency (APIEx), but it’s more than an organizational change. It’s a new way of thinking about exports, with a targeted approach that focuses on agribusiness and digital trade.

    Since February, the Pôle Export is has its own director to coordinate its activities. A team of government trade exports has been assigned to support him, along with eight Beninese consultants recruited by ITC to build up their skills.

    Three advisors are focussed on priority export areas, including agribusinesses and textiles and clothing. Three others have already worked with 21 small business on their branding and e-commerce operations. Two more will provide DPE staff with training in market analysis tools. 

    The ITC work is under a project called Support to operationalize the APIEx Pôle Export, known simply as ProPex. The Embassy of the Netherlands funds the project, which began in February 2025. A steering committee meeting on 6 May marked ProPex’s official launch.

    The Export Promotion Directorate is the backbone of Benin’s ambitions to expand into international markets, offering targeted export support services tailored to priority sectors,’ said ITC country manager Ludmila Azo. ‘Through the PROPEX project, we aim to strengthen this institutional lever by providing it with the skills, tools and systems necessary to provide strategic and high-impact support to SMEs ready to export.’

    Upgrading digital services

    The APIEx website is being upgraded to include trade information tools, as well as a small business marketplace and sector-specific content.

    ProPex stands out because of how it centres participatory governance. Three thematic working groups structure their services within the National Export Strategy, which was also crafted with ITC support.

    Regular briefings between ITC, APIEx and other partners ensure close monitoring of progress. By focussing on sustainability and capitalization, ProPex is laying the foundation for a robust export ecosystem in Benin.

    – on behalf of International Trade Centre.

    MIL OSI Africa

  • MIL-OSI: Iress partners with interop.io to deliver future-ready trading experiences

    Source: GlobeNewswire (MIL-OSI)

    Sydney, London, New York, June 17, 2025 (GLOBE NEWSWIRE) — Iress today announced that it has partnered with the interoperability platform, interop.io, as part of the company’s broader strategy to focus and reinvest in its core trading and market data products. The partnership supports Iress’ commitment to delivering modular, personalised and high-performance trading experiences for its global trading and market data clients.

    interop.io provides the interoperability platform for capital markets firms to unify multiple applications into a harmonised smart desktop, in an aim to increase efficiencies and enable end-users to focus on higher value tasks.

    Through the partnership, Iress’ global trading and market data clients will be able to seamlessly connect and integrate third-party applications, news sources and notifications into a single workspace (known as “MyIress”), optimising trading workflows and reducing the manual risk associated with entering information across multiple platforms. By adopting open APIs and FDC3 interoperability standards, clients can embed custom or proprietary user interfaces, giving them full control to personalise and scale their workflows.

    Iress’ Executive General Manager – Product & Development, Michael Barbera, said: “This partnership marks a key milestone in Iress’ focus and reinvestment in trading technology. Through MyIress, we’re delivering a more scalable and personalised future, empowering clients to tailor their workflows, operate seamlessly across markets and time zones, and stay ahead in an increasingly complex, fast-moving landscape. 

    “Today’s trading landscape is shifting fast, with extended trading market hours, accelerated post-trade cycles, and heightened regulatory demands reshaping operational expectations for trading firms. Traders need to be agile, compliant and operationally resilient to maintain competitive edge across global markets. At the same time, firms are under pressure to modernise legacy infrastructure without costly replatforming.

    “Iress’ partnership with interop.io, which underpins MyIress, enables us to deliver zero-install, scalable architecture that reduces reliance on legacy systems and supports traders in designing high-performance workflows that suit their strategy, region or asset class choice. Interoperable systems are easier to monitor, test and audit, making them better suited to meet changing regulatory requirements, while providing enhanced compliance oversight via automated trade monitoring, reporting and real-time data sharing.”

    interop.io. CEO, Leslie Spiro, said: “There’s an ongoing industry focus on improving connectivity between market participants through technology that supports interoperability. We’re delighted to be partnering with Iress to deliver a best-of-breed ecosystem that enhances the user experience for their global trading and market data clients and ultimately improves the experience across the trading industry.”

    For more information on Iress’ trading and market data solutions click here.

    Ends

    Iress

    Tina Kane
    Mobile: +44 (0) 7887 947329 
    Email: tina.kane@therealizationgroup.com

    About Iress

    Iress (IRE.ASX) is a technology company providing software to the financial services industry. We provide software and services for trading & market data, financial advice, investment management, superannuation, life & pensions and data intelligence in Asia-Pacific, North America, Africa, the UK and Europe.

    www.iress.com

    About interop.io

    interop.io was formed in June 2023 through the merger of Finsemble and Glue42 to create the global powerhouse driving application interoperability in capital markets and beyond. Leveraging FDC3 and workflow automation, interop.io allows clients to create Straight-Through Workflows and benefit from unparalleled levels of business agility, a more productive workforce and better operational control. The firm employs over 120 people including 100 full-time R&D and implementation engineers located in New York, Charlottesville, London, and Sofia. For more information, visit interop.io.

    The MIL Network

  • MIL-OSI: Iress partners with interop.io to deliver future-ready trading experiences

    Source: GlobeNewswire (MIL-OSI)

    Sydney, London, New York, June 17, 2025 (GLOBE NEWSWIRE) — Iress today announced that it has partnered with the interoperability platform, interop.io, as part of the company’s broader strategy to focus and reinvest in its core trading and market data products. The partnership supports Iress’ commitment to delivering modular, personalised and high-performance trading experiences for its global trading and market data clients.

    interop.io provides the interoperability platform for capital markets firms to unify multiple applications into a harmonised smart desktop, in an aim to increase efficiencies and enable end-users to focus on higher value tasks.

    Through the partnership, Iress’ global trading and market data clients will be able to seamlessly connect and integrate third-party applications, news sources and notifications into a single workspace (known as “MyIress”), optimising trading workflows and reducing the manual risk associated with entering information across multiple platforms. By adopting open APIs and FDC3 interoperability standards, clients can embed custom or proprietary user interfaces, giving them full control to personalise and scale their workflows.

    Iress’ Executive General Manager – Product & Development, Michael Barbera, said: “This partnership marks a key milestone in Iress’ focus and reinvestment in trading technology. Through MyIress, we’re delivering a more scalable and personalised future, empowering clients to tailor their workflows, operate seamlessly across markets and time zones, and stay ahead in an increasingly complex, fast-moving landscape. 

    “Today’s trading landscape is shifting fast, with extended trading market hours, accelerated post-trade cycles, and heightened regulatory demands reshaping operational expectations for trading firms. Traders need to be agile, compliant and operationally resilient to maintain competitive edge across global markets. At the same time, firms are under pressure to modernise legacy infrastructure without costly replatforming.

    “Iress’ partnership with interop.io, which underpins MyIress, enables us to deliver zero-install, scalable architecture that reduces reliance on legacy systems and supports traders in designing high-performance workflows that suit their strategy, region or asset class choice. Interoperable systems are easier to monitor, test and audit, making them better suited to meet changing regulatory requirements, while providing enhanced compliance oversight via automated trade monitoring, reporting and real-time data sharing.”

    interop.io. CEO, Leslie Spiro, said: “There’s an ongoing industry focus on improving connectivity between market participants through technology that supports interoperability. We’re delighted to be partnering with Iress to deliver a best-of-breed ecosystem that enhances the user experience for their global trading and market data clients and ultimately improves the experience across the trading industry.”

    For more information on Iress’ trading and market data solutions click here.

    Ends

    Iress

    Tina Kane
    Mobile: +44 (0) 7887 947329 
    Email: tina.kane@therealizationgroup.com

    About Iress

    Iress (IRE.ASX) is a technology company providing software to the financial services industry. We provide software and services for trading & market data, financial advice, investment management, superannuation, life & pensions and data intelligence in Asia-Pacific, North America, Africa, the UK and Europe.

    www.iress.com

    About interop.io

    interop.io was formed in June 2023 through the merger of Finsemble and Glue42 to create the global powerhouse driving application interoperability in capital markets and beyond. Leveraging FDC3 and workflow automation, interop.io allows clients to create Straight-Through Workflows and benefit from unparalleled levels of business agility, a more productive workforce and better operational control. The firm employs over 120 people including 100 full-time R&D and implementation engineers located in New York, Charlottesville, London, and Sofia. For more information, visit interop.io.

    The MIL Network

  • EU readies ban on Russian gas imports by end of 2027

    Source: Government of India

    Source: Government of India (4)

    The European Commission is set to propose on Tuesday a ban on EU imports of Russian gas and liquefied natural gas by the end of 2027, using legal measures to ensure the plan cannot be blocked by EU members Hungary and Slovakia.

    The proposals will set out how the European Union plans to fix into law its vow to end decades-old energy relations with Europe’s former top gas supplier Russia, made after Moscow’s 2022 full-scale invasion of Ukraine.

    An internal Commission summary of the upcoming proposal, seen by Reuters, said it would fix into law a ban on imports of Russian pipeline gas and LNG from January 1, 2026, with longer deadlines for certain contracts.

    Short-term Russian gas deals signed before June 17, 2025 would have a one-year transition period, to June 17, 2026, it said.

    Imports under existing long-term Russian contracts would then be banned from January 1, 2028 – effectively ending the EU’s use of Russian gas by this date, the summary said.

    Companies including TotalEnergies TTEF.PA and Spain’s Naturgy NTGY.MC have Russian LNG contracts extending into the 2030s.

    EU LNG terminals would also be gradually banned from providing services to Russian customers, and companies importing Russian gas would have to disclose information on their contracts to EU and national authorities, Reuters previously reported.

    The plans could still change before they are published.

    EU energy commissioner Dan Jorgensen said on Monday the measures were designed to be legally strong enough for companies to invoke the contractual clause of “force majeure” – an unforeseeable event – to break their Russian gas contracts.

    “Since this will be a prohibition, a ban, the companies will not get into legal problems. This is force majeure, as it [would be] if it had been a sanction,” Jorgensen told reporters.

    NO VETO

    Slovakia and Hungary, which have sought to maintain close political ties to Russia, still import Russian gas via pipeline and say switching to alternatives would increase energy prices. They have vowed to block sanctions on Russian energy, which require unanimous approval from all EU countries, and have opposed the ban.

    To get around this, the Commission’s proposals will use an EU legal basis that can be passed with support from a reinforced majority of countries and a majority of the European Parliament, EU officials said.

    While most other EU countries have signalled support for the ban, officials said some importing countries have raised concerns about the risk to companies of financial penalties or arbitration for breaking contracts.

    Around 19% of Europe’s gas still comes from Russia, via the TurkStream pipeline and LNG shipments – down from roughly 45% before 2022. Belgium, France, the Netherlands and Spain are among those that import Russian LNG.

    “We fully support this plan in principle, with the aim of ensuring that we find the right solutions to provide maximum security for businesses,” French industry minister Marc Ferracci told reporters on Monday.

    (Reuters)

     

  • MIL-OSI New Zealand: New Zealand’s Foreign Policy Reset: Progress & Reflections

    Source: New Zealand Government

    [Keynote speech to the New Zealand Institute of International Affairs (NZIIA) national conference, Takina Convention Centre, Wellington]

    Good afternoon.

    National Chair of the New Zealand Institute of International Affairs, Dr James Kember, Executive Director Dr Hamish McDougall, members of the Diplomatic Corps, distinguished guests. 

    It is a pleasure to speak here today at the New Zealand Institute of International Affairs’ Annual Conference.

    The NZIIA contributes to, and facilitates, discussion and debate about New Zealand’s foreign policy, and we thank you for hosting us. 

    In May last year, it was the NZIIA that hosted us in Parliament for a speech that addressed the challenges we face in a more fractious world and outlined how the Coalition Government was bringing more energy, more urgency and a sharper focus to our foreign policy.

    Just over a year later, we thought we’d reflect on the Government’s Foreign Policy Reset, where progress has been made, and the foreign policy themes we have accentuated in the year since we last spoke to you.

    This is also the time for a clear-eyed appraisal of New Zealand’s strategic circumstances, and the sharply deteriorating international outlook, as evidenced by the protracted illegal war in Ukraine and in the catastrophic escalation of the conflict in the Middle East. 

    Twenty-five years ago, New Zealand enjoyed a world that was becoming more open, more democratic, and more free. Trade liberalisation was gathering pace. Effective multilateralism helped underpin a liberal- oriented international rules-based system.

    Turning to the world of today – and looking out to tomorrow – the changes are stark. Uncertainty is now pervasive across the globe. We face an international operating environment under serious strain, one that poses complex challenges while exposing structural weaknesses in that operating environment.

    While geography remains a constant, distance is no buffer. There is no opting out from the geopolitical realities we face. So, this is a timely reminder of what is at stake, and why our foreign policy matters for all New Zealanders. 

    Foreign policy can often be perceived as far removed from New Zealanders’ daily lives. But recognising how our foreign and trade policy underpins New Zealanders’ security and prosperity is crucial to the open and mature national conversation we must continue to have in our vibrant democracy.

    While operating for the most part quietly and in the background, our foreign and trade policy helps deliver outcomes that matter for all of us.

    From the export dollars our farmers and manufacturers earn in key markets and helping to remove barriers for our exporters.

    • To new international market opportunities being opened for our innovative services firms.
    • To the international rules that provide us with our Exclusive Economic Zone and its resources, preserve Antarctica as a zone of peace and science, and which govern behaviours in outer space and cyber space.
    • To the international security partnerships that enable us to tackle common threats, such as the flow of illegal drugs into our country, or terrorist threats.
    • To the standards that underpin everyday fundamentals we all rely on, whether international air and sea shipping, our telecommunication devices, or biosecurity measures.
    • And to the opportunities for young New Zealanders to travel and work overseas and return with new skills and experiences.

    So while foreign and trade policy may seem abstract, how we act in the world matters for New Zealanders every day.

    This fundamental link between how we advance our interests abroad, and our security and prosperity at home, is why the Coalition Government prioritises foreign policy as a crucial instrument to achieve both. That, after all, is how we maintain support from the taxpayers who underwrite our efforts.

    This demands being present, engaged, and explaining ourselves. There remains no substitute for in-person diplomacy, relationship building, and educating the public about the choices we face. 

    Now, our critics complain that we are leading a radical repositioning of our foreign policy. But only in one very narrow and important respect are they right. We have radically increased the tempo of our diplomacy, in recognition of our predecessors’ torpor, but also because of the sheer magnitude of the challenges we face. 

    Since being sworn into office in November 2023, we have visited 46 countries, several more than once, met with well over 100 Presidents, Prime Ministers, Deputy Prime Ministers and Foreign Ministers, and had over 400 political engagements. 

    Through this engagement we are better informed about the world around us, as are counterparts about New Zealand’s foreign policy perspectives and the values that underpin them.

    And we continue the important duty of communicating New Zealand’s foreign policy priorities to the public and explaining the nature of our changing strategic circumstances and the choices that flow from them.

    We push ourselves to work harder, and explain ourselves better, because New Zealand has understood these past 80 years, that as a small state geographically isolated from the great landmasses of Asia, Europe and the Americas, only through the conduct of a highly active foreign policy can we advance our national interests, defend our region, and make it more prosperous.

    Foreign Policy Reset: Progress

    Distinguished guests, in our speech to you last year we outlined the six priorities that form the Government’s foreign policy reset. Today’s speech is an opportunity to recap the ambition that Cabinet set out and highlight key areas of effort and progress.

    First, we are significantly increasing our focus and resources applied to South and Southeast Asia. 

    With 34 outward Prime Ministerial and Ministerial visits to the region since February 2024 – advancing new business and investment opportunities, while expanding defence and security cooperation, and upgrading a range of key relationships – we are investing in the wider region, commensurate with its strategic and economic significance.

    In 2025, we have upgraded our Viet Nam relationship to a Comprehensive Strategic Partnership, and we are working hard to similarly achieve upgrades in our ASEAN and Singapore relationships.

    It was a pleasure to again visit India last month, and to contribute to this important and growing relationship, including welcoming the negotiations underway towards a comprehensive free trade agreement.

    Complementing this investment in South and Southeast Asia, the Government also remains focused on the depth and breadth of our important relationships across North Asia. Our bilateral relationship with China is New Zealand’s largest trade relationship. It’s proven mutually beneficial and significant for both countries.  The relationship is supported by regular people exchange, including political dialogue, business, education and tourism links. And we are pleased that with the Prime Minister visiting China this week we will have completed reciprocal visits between our respective counterparts over the past two years.

    Our long-standing political connections enable frank and comprehensive discussions on areas of disagreement, including those that stem from our different histories and different systems. Indeed, it is a sign of healthy relationships that we can and do express disagreement on important issues. 

    Japan and Korea are two likeminded democracies in the Indo-Pacific, who view the region and the world in the same way we do and are increasingly central to achieving our interests.

    Second, we are renewing and reinvigorating meaningful engagement with traditional and likeminded partners. 

    Our circumstances underscore the importance of an even deeper strategic partnership with Australia as well as other partners with which we share a deep history and enduring interests.

    Consultations with Australian Foreign Minister Penny Wong in Adelaide last month highlighted that New Zealand has no closer or more important partner that Australia, our one formal ally, with whom we share interests across the full expanse of regional and international issues.

    We have grown the important partnership with the United Kingdom, including advancing trade opportunities and reiterating our shared commitment to tackling international security challenges. 

    Similarly, enhanced engagement with the European Union and its member states is a significant focus for New Zealand.

    The change in the US Administration in January has inevitably generated changes in the priorities and direction of US foreign policy. But the significance of the US’ continued role in the security and stability in the Indo-Pacific and as an essential economic partner remains, and this continues to be the focus of our engagement, including during discussions with Secretary Rubio in Washington and Admiral Paparo, Commander of US INDOPACOM in Honolulu.

    Third, we are sustaining a deeper focus on the Pacific, working in collaboration with Pacific Leaders to protect and advance our interconnected security, economic, social and environmental interests.

    In a more complex global environment, coming together as a region is even more important.  Which is why Pacific regionalism sits at the core of our Pacific approach, with the Pacific Islands Forum at its centre. 

    We will always be members of the same Pacific family. A series of cross-party Parliamentary delegations into the region, alongside our exhaustive travel around Micronesia, Melanesia, and Polynesia, have demonstrated that New Zealand’s commitment to the region spans the political spectrum and is foundational to who we are as a country.

    Our Pacific-focused International Development Cooperation programme – reshaped to achieve more impact by doing fewer, bigger, projects better – is helping to build climate and economic resilience, strengthen governance and security, and to lift heath, education and connectivity.

    Fourth, we are targeting our multilateral engagement on priority global and transboundary issues, working to defend and preserve core principles of international law that underpin our security and prosperity.

    Respect for the UN Charter principles of sovereignty, territorial integrity, and the prohibition on the use of force is essential to avoid a return to a world where the exercise of hard power reigns supreme.

    Where these principles are flagrantly violated, such as in Russia’s continued illegal invasion of Ukraine, we must stand against such aggression and lend our efforts to achieving a just and sustainable peace.

    New Zealand’s response to the Israel-Hamas conflict is also grounded in upholding international law, including international humanitarian law.

    While the multilateral system has served us all well for many decades, it most certainly is not without flaws. We recognise that defending, strengthening, and modernising the rules-based system also means supporting reform of multilateral institutions. 

    We actively support efforts to make these institutions more responsive, efficient and effective to ensure they are focused on making a difference for our citizens, and we feel an urgency around necessary reform.   

    Fifth, we are supporting new groupings that advance and defend our interests and capabilities. 

    The relationship between the Indo-Pacific Four (IP4) countries – Australia, Japan, South Korea and New Zealand – is an example of this new support. 

    Deeper political-level engagement between NATO and the IP4, begun by predecessor governments, has allowed us to raise the profile of shared strategic challenges in the Euro-Atlantic and Indo-Pacific, and to drive enhanced cooperation on priority areas including cyber, artificial intelligence, and defence capability.

    This effort will be given further momentum next week, when the Prime Minister travels to The Hague for engagements with fellow IP4 partners and NATO countries, during the NATO Summit.

    And sixth, we are working hard to advance the Government’s goal of seriously lifting New Zealand’s export value over the next decade. 

    This means harnessing every potential gain from our trade and economic agenda; promoting New Zealand as a place to do business; and creating opportunities for our world-class exporters. 

    This Government has conducted eleven successful trade missions, as we work towards the target of 20 missions involving New Zealand businesses during this Parliamentary term.

    New trade agreements concluded with the United Arab Emirates and the Gulf Cooperation Council will open doors and provide greater certainty as well as create more chances for our exporters to grow and diversify their businesses. 

    As will our efforts to leverage and expand existing trade agreements – such as through the United Kingdom’s accession last year to the Comprehensive and Progressive Agreement for Trans Pacific Partnership (CPTPP).

    Mid-term reflections

    In recent speeches we have outlined that the priorities identified in the foreign policy reset are underpinned by three key concepts:

    • The realism that informs the Government’s foreign policy.
    • Our view of the crucial role that diplomacy needs to play in our troubled world.
    • And our unshakeable belief that small states matter and that all states are equal.

    In fashioning foreign policy responses, the realist tendency is to err on the side of prudence. That is, we are careful in what we say, and when and how we say it. 

    We leave it to the small cabal of ill-informed critics of our foreign policy approach to shout impotently at clouds. They are good at that. Take AUKUS. In our speech to the NZIIA last year we were candid about what AUKUS Pillar 2 was, why the Ardern/Hipkins Governments launched work on it, and we laid out the necessary pre-conditions for participation. 

    A year on, there is nothing new to report, which you might think says something about the current dynamic, but still critics insist dark clouds have formed around our independent foreign policy. Their arguments were ill-informed and rubbish then. They’re ill-informed and rubbish now.

    We said we would update New Zealanders on Pillar 2 when there was something new to say. And we will.       

    In conditions of great uncertainty and disorder, such as we are currently experiencing, prudence is a both a logical and necessary guiding principle for a small state like New Zealand.

    We see our responsibility to the New Zealand people, in conducting foreign policy, as making cool-headed calculations of the country’s own strengths and weaknesses as we fashion our responses to events large or small that impact upon New Zealand’s interests.

    For a small state like New Zealand, the role of diplomacy is a crucial instrument of our foreign policy. In our complex geostrategic environment never has effective diplomacy been more needed. 

    Summing up our wide foreign policy discussions in our National Statement to the United Nations last year, we said it has never been more apparent just how much diplomacy and the tools of statecraft matter in our troubled world. 

    Since war and instability is everyone’s calamity, diplomacy is the business of us all. We have observed that at this moment in time the ability to talk with, rather than at, each other has never been more needed. 

    Those who share our values, and even those who do not, gain from understanding each other’s position, even when we cannot agree. From understanding comes opportunity and from diplomacy comes compromise, the building block of better relations between nations. We said we need more diplomacy, more engagement, more compromise. 

    As Churchill also said in his later years, “meeting jaw-to-jaw is better than war.”

    The inherent tensions and imbalances in the global order – between the desire for a rules-based order that protects small states against aggression, and the unjustified exercise of power by certain Great Powers – have only grown over the last past eight decades. 

    Yet small states matter now as much as they did then. New Zealand holds the foundational belief that all states are equal and that our voices matter as much as more powerful states. Adopting a prudential approach to our diplomacy also means not reacting to everything that happens around us. 

    In closing, it’s fitting to return to the broad theme of the event – New Zealand’s foreign policy in a contested world.

    The outlook is challenging, to say the least, and we – government and public alike – must grapple with the reality of the fraught strategic circumstances that New Zealand faces.

    We have many friends in the world, but no-one owes New Zealand a living. It is incumbent upon us to chart our course, assert our priorities, cultivate our partnerships, and pursue our interests with the vigour we have injected into our diplomatic efforts these past 18 months.

    Amidst serious challenges and risk, there are also opportunities. Realising these means that we must continue to bring energy, urgency and a sharper focus to our foreign policy. 

    Through the Foreign Policy Reset, we are focused on doing exactly that and ensuring that we continue to deliver security and prosperity for all New Zealanders.

    Thank you

    MIL OSI New Zealand News