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  • Bankrupt Pakistan finds it lost Rs 2.2 trillion in ‘fake’ and ‘flying’ invoices in two years – Firstpost

    Bankrupt Pakistan finds it lost Rs 2.2 trillion in ‘fake’ and ‘flying’ invoices in two years – Firstpost

    Federal Board of Revenue (FBR) Member Hamid Atique Sarwar told the Senate Standing Committee on Finance and Revenue that over Rs 873 billion ‘fake’ and ‘flying’ invoices were found last year, which was an addition to the Rs 1.37 trillion that was already lost in the previous year

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    An already cash-strapped Pakistan lost more than Rs 2.2 trillion (Pakistani rupees) in tax evasion in the past two fiscal years through ‘fake’ and ‘flying’ invoices.

    Federal Board of Revenue (FBR) Member Hamid Atique Sarwar told the Senate Standing Committee on Finance and Revenue that over Rs 873 billion ‘fake’ and ‘flying’ invoices were found last year, which was an addition to the Rs 1.37 trillion that was already lost in the previous year.

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    Sarwar said that no punitive measures have been taken to address the tax evasions, and that such a massive loss of revenue cannot be allowed in the country.

    He explained that the law, in effect since 1996, allowed for arrests if an assistant commissioner had reason to believe tax evasion was occurring, records were being tampered with, or suspects were attempting to flee the country. However, the latest Finance Bill introduces several safeguards to prevent the harassment of businessmen and taxpayers.

    The committee conducted a thorough discussion on various anomalies in the Budget 2025–26, including briefings from members of the chambers of commerce, with particular concern over clauses that grant the FBR powers of arrest based solely on suspicion.

    Minister of State for Finance and Revenue Bilal Azhar Kiyani stated that the prime minister had formed a committee to address the concerns raised by the chambers.

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  • Breakthrough sensor tech uncovers slow-motion quakes beneath New Zealand-Xinhua

    WELLINGTON, July 25 (Xinhua) — Advanced seismic sensor technology is now deployed to study New Zealand’s Hikurangi Subduction Zone, revealing insights into slow-slip earthquakes.

    Scientists have installed advanced borehole sensors off New Zealand’s east coast to monitor frequent slow-slip events and potential large quakes in the Hikurangi Subduction Zone.

    The sensors detect slow-slip earthquakes, seismic events releasing energy over days or weeks, that play a key role in building and releasing tectonic stress along major faults, according to a statement released by Earth Sciences New Zealand (ESNZ).

    “It’s like a ripple moving across the plate interface,” the statement said, quoting Josh Edgington of the University of Texas Institute for Geophysics in the United States, who led the project with Charles Williams, ESNZ geodynamic modeler.

    New data from the Hikurangi Subduction Zone, expected later this year, may reveal more about slow-slip earthquakes and their role in the quake cycle, aiding hazard assessment of major faults in the active Pacific Ring of Fire, the ESNZ said.

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  • Exclusive: USAID analysis found no evidence of massive Hamas theft of Gaza aid – Reuters

    1. Exclusive: USAID analysis found no evidence of massive Hamas theft of Gaza aid  Reuters
    2. USAID analysis found no evidence of massive Hamas theft of Gaza aid  Dawn
    3. Hamas punishes Gazans seeking aid; Protests erupt in Muwasi  www.israelhayom.com
    4. Hamas’s War on Aid in Gaza  The Stream
    5. No evidence Hamas steals Gaza aid, USAID says  The Jerusalem Post

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  • Wrestling icon Hulk Hogan dies at 71; S’poreans urged to defer travel to Thailand-Cambodia border: Singapore live news

    Wrestling icon Hulk Hogan dies at 71; S’poreans urged to defer travel to Thailand-Cambodia border: Singapore live news

    Hulk Hogan, professional entertainer and wrestler, tears his shirt open as he speaks on Day 4 of the Republican National Convention (RNC), at the Fiserv Forum in Milwaukee, Wisconsin, US, 18 July 2024. (PHOTO: REUTERS/Mike Segar TPX IMAGES OF THE DAY/File Photo)

    Hulk Hogan, professional entertainer and wrestler, tears his shirt open as he speaks on Day 4 of the Republican National Convention (RNC), at the Fiserv Forum in Milwaukee, Wisconsin, US, 18 July 2024. (PHOTO: REUTERS/Mike Segar TPX IMAGES OF THE DAY/File Photo)

    Hulk Hogan, the icon of professional wrestling who turned the sport into a massive business and stretched his influence into TV, pop culture and conservative politics during a long and scandal-plagued second act, has died. He passed on Thursday (24 July) in Florida in the US at age 71.

    Hogan was pronounced dead at a hospital less than 90 minutes after medics in Clearwater arrived at his home to answer a morning call about a cardiac arrest, police reportedly said in an AP report.

    Hogan, whose real name was Terry Bollea, was perhaps the biggest star in WWE’s long history. He was the main draw for the first WrestleMania in 1985 and was a fixture for years, facing everyone from Andre The Giant and Randy Savage to The Rock and even WWE co-founder Vince McMahon.

    Read more about the WWE legend.

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  • Why are Thailand and Cambodia fighting along their border? – Reuters

    1. Why are Thailand and Cambodia fighting along their border?  Reuters
    2. Thailand warns clashes with Cambodia could ‘move towards war’  BBC
    3. Thailand-Cambodia live news: Thailand declares martial law in 8 districts  Al Jazeera
    4. Thai-Cambodian conflict pits a well-equipped US ally against a weaker adversary with strong China links  CNN
    5. Why are Thailand and Cambodia engaged in a border conflict?  The Guardian

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  • Marex Group plc to acquire UK equity market maker Winterflood Securities

    Marex Group plc to acquire UK equity market maker Winterflood Securities

    LONDON, July 25, 2025 – Marex Group plc (‘Marex’ or the ‘Group’; NASDAQ: MRX), the diversified global financial services platform, today announces that it has agreed to acquire UK equity market maker Winterflood Securities (Winterflood) from Close Brothers Group plc (Close Brothers) for approximately £103.9 million in cash, which represents a premium of £15 million.

    Winterflood is one of the UK’s leading equity market makers, delivering execution services to over 400 institutional clients and ranking consistently as a top three market counterparty with a market share of about 15% by volume on the London Stock Exchange . Winterflood has well-established client connectivity through its proprietary technology platform.

    The acquisition is expected to enhance Marex’s existing UK cash equities business, consistent with its strategy to bring new clients and new capabilities onto its platform and diversify earnings. It is also expected to add a substantial distribution offering servicing the UK institutional community, in particular asset and wealth management companies, with the potential to deepen these relationships by offering access to a broader range of Marex’s products from across its platform.

    Winterflood also operates Winterflood Business Services, which provides outsourced dealing, settlement and custody services to a diverse range of clients, including large institutions, investment platforms, wealth managers, and retail aggregators.

    The deal is subject to regulatory approval and is expected to close in early 2026.

    “This acquisition gives us an opportunity to transform our existing equity market making business into a leading franchise, utilising the technology and connectivity of what is the leading brand in this market. This deal is consistent with our strict financial criteria, and we see opportunities to materially improve Winterflood’s profitability and pay back its premium within two to three years. We believe we can gain economies from operating at scale and also benefit from Winterflood’s great technology and strong client relationships, which will enable us to introduce additional products and services from across our platform to a new set of clients.”

    Ian Lowitt
    Chief Executive Officer, Marex

    “We’re delighted to become part of Marex, which is a high-growth, global financial services company with a strong balance sheet. Our clients will continue to be served by the same team, while also benefitting from the backing of a large and growing company as well as access to a broader range of products and services from Marex. We’re excited to be joining a fast-paced organisation where our teams can thrive.”

    Bradley Dyer
    CEO, Winterflood Securities

    “We see Marex as an excellent steward for the business going forward, we thank the Winterflood team for their hard work and commitment over the years and wish them every success in their next chapter with Marex.”

    Mike Morgan
    Group Chief Executive, Close Brothers

    1Rank and market share is based on Bloomberg data for London Stock Exchange market volumes from January 2019 to December 2024

    Forward-Looking Statements:
    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including the expected acquisition of Winterflood Securities and the closing of the transaction as well as expected benefits from the acquisition. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions.
    These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the risks discussed under the caption “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2024, filed with the Securities and Exchange Commission (the “SEC”) and our other reports filed with the SEC. The forward-looking statements made in this press release relate only to events or information as of the date on which the statements are made in this press release. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely upon these statements.

    About Marex:
    Marex Group plc (NASDAQ: MRX) is a diversified global financial services platform providing essential liquidity, market access and infrastructure services to clients across energy, commodities and financial markets. The Group provides comprehensive breadth and depth of coverage across four services: Clearing, Agency and Execution, Market Making and Hedging and Investment Solutions. It has a leading franchise in many major metals, energy and agricultural products, with access to 60 exchanges. The Group provides access to the world’s major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers. With more than 40 offices worldwide, the Group has over 2,400 employees across Europe, Asia and the Americas. For more information visit www.marex.com.

    Enquiries please contact:
    Marex: Nicola Ratchford / Adam Strachan
    +44 778 654 8889 / +1 914 200 2508
    nratchford@marex.com / astrachan@marex.com

    FTI Consulting US / UK
    +1 716 525 7239 / +44 7976870961
    marex@fticonsulting.com

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  • Role of Dexamethasone in Reducing Postoperative Pain Following Cardiac Surgery: A Single-Center Retrospective Cohort Study

    Role of Dexamethasone in Reducing Postoperative Pain Following Cardiac Surgery: A Single-Center Retrospective Cohort Study


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  • Tea-loving Nepal is warming up to coffee

    Tea-loving Nepal is warming up to coffee

    KATHMANDU, Nepal — Coffee hasn’t always been an easy sell in Nepal.

    The Himalayan country is a major tea producer, as well as a major consumer. When people greet each other in the morning, they don’t ask “how are you.” They say “have you had your tea?”

    Tea — usually served with as a sweet, milky beverage in a piping hot glass tumbler — is as much a part of Nepal’s culture as rice, a constant presence at homes, meetings and social gatherings.

    But a growing number of Nepalis are warming up to coffee, as trendy cafes spring up street corners in cities and towns across the country.

    One cafe in the capital, Kathmandu, is widely seen as the pioneer.

    Gagan Pradhan began Himalayan Java as a single cafe in an alley, and it’s grown to a chain with 84 locations the country. Pradhan estimates there around 7,000 cafes across the country, although so far international brands like Starbucks aren’t in Nepal.

    “There are lot of tea shops throughout the nation, but the kind of set up they have is still kind of old fashioned,” Pradhan said. “I think with investors and people like us, when it comes to coffee shop we are more serious not only with machines, we are serious with everything like the lighting, the set up, the furnishings, the location.”

    Pradhan said tea shops usually offer just black tea or tea with milk, whereas a typical coffee menu has 10-15 hot beverages and about 10-15 cold beverages, he said.

    Pradhan said it’s an appealing business because the initial investment to open a cafe is very low, they’re clean and simple enough for a single to family to run, and customers are willing to pay more for coffee.

    Several of eastern Nepal’s tea plantations in the mountains of east Nepal, famous for the tea, are joined by coffee plantations now.

    Nepal is part of a regional trend. Coffee consumption has soared across traditionally tea-drinking countries in Asia as members of growing middle classes seek out novel flavors and adopt international trends.

    Coffee is a premium drink in Nepal: it costs about $2 at Himalayan Java, which is enough to buy a meal at a local cafe in Kathmandu, or five cups of tea. Still, cafes bustle with officers workers on breaks and students looking for places to study.

    “I think the idea of drinking coffee (in Nepal) was first triggered with people thinking it would elevate their standard of living, but then once they tasted coffee many people just liked it and continued to drink it,” said Deep Singh Bandari, a social worker who is a regular visitor to the coffee cafes.

    Most of the coffee drunk in Nepal is imported, but in the country’s famous eastern tea-growing regions coffee plantations are springing up.

    According to Nepal’s National Tea and Coffee Development Board, about 400 tons of coffee was produced in fiscal year 2021-22, the most recent for which data is available. That’s a drop in the percolator compared to the 26,000 tons of tea produced the same year, but the board predicts rapid growth.

    “Both young and old people in Nepal just love coffee, and the number of coffee drinkers is growing every day. This trend is just going to grow,” said Pradhan.

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  • Why Are RSV Vaccine Rates so Shockingly Low?

    Why Are RSV Vaccine Rates so Shockingly Low?

    Respiratory syncytial virus (RSV) is the leading cause of lower respiratory tract infections in infants and children younger than 2 years. The most severe and life-threatening cases typically affect infants younger than 6 months. However, older toddlers, adults with chronic illnesses or multiple comorbidities, and older adults are also at an elevated risk.

    Immunization Progress

    Research on both active and passive RSV immunization has advanced significantly in recent years. Following the approval of the first prophylactic antibody in 2022 and two vaccines in 2023, the prevention of severe RSV illnesses has become increasingly effective.

    Current strategies include maternal vaccination to protect newborns, immunization of older adults, and passive immunization of infants using the monoclonal antibody nirsevimab. In June, the FDA approved a second monoclonal antibody: clesrovimab.

    Nirsevimab

    Nirsevimab (Beyfortus) has been available in the European Union since November 2022. It is indicated for RSV prophylaxis in all infants during their first RSV season and in children up to 2 years of age who are at increased risk during their second season.

    Nirsevimab is a human monoclonal immunoglobulin G1 (IgG1) kappa antibody produced using recombinant DNA technology. It binds to a highly conserved site on the RSV fusion (F) glycoprotein, which is present only in the prefusion form of the viral surface protein. Nirsevimab has a markedly longer serum half-life than earlier antibodies.

    The drug is administered as a single intramuscular dose adjusted according to the child’s weight. Germany’s Standing Committee on Vaccination recommends that infants born between April and September receive antibodies in autumn before their first RSV season. Those born between October and March should receive the vaccine as soon as possible after birth.

    Clesrovimab

    Clesrovimab (Enflonsia) is a human monoclonal IgG1 kappa antibody. Unlike nirsevimab, it binds to two sites in both the pre- and post-fusion conformations of the F protein. It is administered as a single intramuscular injection and does not require weight-based dosing.

    The manufacturer has applied for approval from the European Medicines Agency, and the decision is pending.

    RSV Vaccines

    Three RSV vaccines, each targeting a different group, are currently authorized for use in Germany.

    Arexvy: A monovalent recombinant protein vaccine that includes the RSV F protein and the AS01E adjuvant. It is approved for adults aged 60 years or older.

    Abrysvo: A bivalent recombinant protein vaccine containing prefusion F antigens from RSV subtypes A and B. It is authorized for use in pregnant women to protect their infants up to 6 months of age and in adults aged 60 years or older.

    mResvia: Approved in mid-2024, this is the only mRNA RSV vaccine currently available. It is indicated for adults aged 60 years or older and was recently approved in the US for high-risk adults aged 18-59 years.

    Real-World Data

    Although clinical trials have demonstrated the strong efficacy of RSV vaccines and antibodies in preventing severe illnesses, data from real-world immunization programs are limited. A new systematic review by UK researchers addressed this gap.

    Between December 2024 and February 2025, they conducted monthly searches across the Ovid, Embase, MEDLINE, and global health databases. The review included 43 studies that evaluated nirsevimab, maternal RSV vaccination, and adult RSV vaccination. The goal was to assess uptake across countries and demographic groups.

    Data from more than 1.38 million individuals in Spain, France, Italy, Luxembourg, and the US were analyzed. One study combined records from Catalonia and Andorra. Most data (86%) were drawn from electronic health records and medical registries, and vaccine data were solely from the US.

    Nirsevimab Uptake

    In Spain, the uptake of nirsevimab during the 2023-2024 RSV season reached 90.1% (95% CI, 86.4-92.9), the highest of any country reviewed. Infants born during the RSV season and Spanish nationals had higher immunization rates.

    In the US, 51.2% of eligible infants received nirsevimab in 2023-2024. Uptake was greater among preterm infants, those with at least one comorbidity, and those from Hispanic backgrounds. France recorded 76.5% coverage, with higher rates in infants younger than 3 months than in those aged 3-12 months. Luxembourg reported 83.8%, Italy 68.7%, and Catalonia-Andorra combined 60.2%.

    Subgroup analyses revealed that children who experienced RSV or other acute respiratory infections were less likely to receive nirsevimab.

    Maternal Vaccination

    Maternal RSV vaccine coverage during pregnancy was 30.5% (95% CI, 20.6-42.6). Uptake was significantly lower among women without health insurance or with statutory coverage than among those with private insurance. Black and Hispanic women had lower rates than non-Hispanic White women.

    Older Adult Vaccination

    Four population-based studies assessed RSV vaccine uptake in adults aged 60 years or older, showing an average rate of 18.2% (95% CI, 10.8-28.9) in 2023-2024. Uptake was higher among adults older than 75 years, those with comorbidities, and immunocompromised individuals. As with maternal vaccination, the rates were lower among the Black and Hispanic populations.

    The researchers highlighted the concerningly low uptake among pregnant women and older adults despite the availability of effective prevention tools. They called for coordinated national, clinical, and public health efforts to improve immunization rates in high-risk populations.

    World Health Organization (WHO) Guidance

    In May, the WHO published its first position paper on RSV immunization in infants and young children, underscoring global urgency.

    RSV is the leading cause of pediatric morbidity and mortality. In 2019, an estimated 100,000 children younger than 5 years died from RSV-related lower respiratory tract infections, representing about 2% of all deaths in this age group. Approximately half of these deaths occur in infants younger than 5 months, with 97% occurring in low- and middle-income countries. Globally, RSV accounts for an estimated 3.6 million hospitalizations annually in children younger than 5 years.

    The WHO recommends that all countries implement immunization programs to prevent severe RSV disease in vulnerable groups. The choice between maternal vaccination and the use of long-acting monoclonal antibodies, such as nirsevimab, should be based on local factors, including health system integration, cost, and overall feasibility.

    Germany’s Robert Koch Institute provides additional guidance in its fact sheets on RSV immunization, including details on nirsevimab and adult vaccinations.

    This story was translated from Univadis Germany.

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  • Bluetongue outbreak endangers UK livestock  

    Bluetongue outbreak endangers UK livestock  

    Bluetongue causes illness and death in cattle, sheep, goats and other ruminants.

    A tiny midge, no bigger than a pinhead, is bringing UK farming to its knees. The culprit? A strain of the bluetongue virus that’s never been seen before.

    As of July 1, the whole of England has been classed as an “infected area” due to bluetongue virus serotype 3 (BTV-3).

    There are movement restrictions and testing in place in Scotland, Wales and the island of Ireland. No animals from England – or that have passed through England – are allowed to attend this year’s Royal Welsh Show on July 21-24, for example.

    The virus, which causes illness and death in sheep, cattle, goats and other ruminants, is spread by biting midges. Although it poses no risk to humans and can’t be transmitted from one animal to another, the latest outbreak is more severe than previous ones. And it could cause lasting damage to UK farming.

    Bluetongue isn’t new to the UK, however. A different strain, BTV-8 was detected in 2007 and contained. But BTV-3 is a different story. First detected in the Netherlands in late 2023, it was quickly spotted in the UK, where an early containment effort initially appeared successful.

    But the virus made a comeback in autumn 2024 – and this time it spread. On its second attempt, the virus was able to circulate and caused an outbreak. With little existing immunity, BTV-3 has now established itself, prompting concerns about animal welfare, food production and farming livelihoods.

    What does the disease do?

    Sheep tend to be the most severely affected, though all ruminants are at risk. Clinical signs are species-specific but can include swelling of the face, congestion, nasal discharge, ulcers in the mouth and nose, difficulty breathing and abortion or birth deformities.

    Bluetongue can cause the animal’s tongue to swell. It can also turn blue from lack of blood flow – although this is somewhat rare.

    Bluetongue disease causes suffering in animals, and while there is a vaccine, there is no treatment for the disease once it’s contracted.

    BTV-3 appears to be more lethal than earlier strains. In the Netherlands, vets report that BTV-3 is causing more severe symptoms than BTV-8 did.

    Vets in England reported that in some herds 25-40% of cows failed to get pregnant, and there was a high rate of birth defects and stillborn calves. One farm in Suffolk started the calving season with 25% of their cows not pregnant and ended with just 48 calves from 97 cows.

    Belgium has seen a fall in calf births, reduced milk deliveries and higher mortality in small ruminants compared to the previous three years.

    How is it spread?

    Bluetongue virus is transmitted by midges from the Culicoides genus. These are tiny, biting insects that thrive in mild, wet conditions.

    Multiple midges can bite the same animal, and it only takes one of them to carry BTV before that animal becomes a host for further transmission. When animals are transported long distances, infected individuals can be bitten again and introduce the virus to previously uninfected midge populations.

    Climate change is making outbreaks like this more likely. Milder winters and cooler, wetter summers are ideal for midges, increasing both their numbers and their biting activity.

    While there’s no danger to human health, the consequences of BTV-3 are far-reaching. Limitations on movement, exports and imports are being imposed to help prevent the spread of the disease, but this could also hamper farming practices and trade.

    The disease and its associated restrictions pose another source of stress for farmers, 95% of whom have ranked mental health as the biggest hidden problem in farming.

    Genetic pick and mix

    One of the reasons bluetongue is so tricky to manage is its ability to evolve. It has a segmented genome, meaning its genetic material, in this case RNA, is split into ten segments. This characteristic is exclusive to “reassortment viruses” and means that they can easily exchange segments of RNA. It’s like a genetic pick and mix with ten different types of sweets that come in an unlimited number of flavours.

    This allows BTV to create new, genetically distinct “serotypes”, which may have a selective advantage or a disadvantage. Those with an advantage will emerge and spread successfully, while those with a disadvantage will not emerge at all. This process, known as “reassortment”, is partly responsible for the numerous influenza pandemics throughout history and has even allowed diseases to jump the species barrier.

    Although bluetongue doesn’t affect humans directly, its spread poses a growing threat to the UK’s livestock sector and food supply. It’s important to learn from other countries that are further along in the BTV-3 outbreak so that the likely effects can be anticipated in the UK.The Conversation

    Cate Williams, Knowledge Exchange Fellow at Institute of Biological, Environmental and Rural Sciences, Aberystwyth University

    This article is republished from The Conversation under a Creative Commons license. Read the original article.


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