Category: Asia Pacific

MIL-OSI: Cenovus announces first-quarter 2025 results

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, May 08, 2025 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its first-quarter 2025 financial and operating results. The company generated more than $1.3 billion in cash from operating activities, $2.2 billion of adjusted funds flow and $983 million of free funds flow. Operating results in the quarter were strong, with Upstream production increasing to 818,900 barrels of oil equivalent per day (BOE/d)¹ while Downstream crude throughput was 665,400 barrels per day (bbls/d), representing an overall utilization rate of 92%.

The Board of Directors has approved an 11% increase in the base dividend to $0.80 per share annually, beginning in the second quarter of 2025. Consistent with Cenovus’s financial framework, the base dividend is underpinned by our growth plan and resilience at a US$45 WTI oil price.

Highlights

Upstream production of 818,900 BOE/d, maintaining near-record performance and exceeding the previous quarter.
Continued momentum in Downstream performance, including record utilization of 104% in Canadian Refining, with 90% utilization and adjusted market capture²^,³ of 62% in U.S. Refining.
Returned $595 million to shareholders, including $62 million through share purchases, $333 million through common and preferred share dividends, and $200 million through the redemption of Cenovus’s Series 5 preferred shares on March 31, 2025. The company subsequently purchased 10.9 million common shares for $178 million between April 1 and May 5, 2025.
Progressed all Upstream growth projects as planned, including introduction of steam to the first two well pads at Narrows Lake with first oil expected early in the third quarter, as well as completing preparations for tow-out of the concrete gravity structure (CGS) and the topsides for the West White Rose project.

“We delivered strong operational performance across our integrated portfolio, while significantly progressing our major growth projects toward completion,” said Jon McKenzie, Cenovus President & Chief Executive Officer. “Combined with our commitment to financial discipline and cost control, we are well positioned to effectively navigate market volatility and continue to grow shareholder returns.”

Financial summary

($ millions, except per share amounts)	2025 Q1	2024 Q4	2024 Q1
Cash from (used in) operating activities	1,315	2,029	1,925
Adjusted funds flow²	2,212	1,601	2,242
Per share (diluted)²	1.21	0.87	1.19
Capital investment	1,229	1,478	1,036
Free funds flow²	983	123	1,206
Excess free funds flow²	373	(416)	832
Net earnings (loss)	859	146	1,176
Per share (diluted)	0.47	0.07	0.62
Long-term debt, including current portion	7,524	7,534	7,227
Net debt	5,079	4,614	4,827

Production and throughput

(before royalties, net to Cenovus)	2025 Q1	2024 Q4	2024 Q1
Oil and NGLs (bbls/d)¹	670,900	670,600	658,200
Conventional natural gas (MMcf/d)	887.9	873.3	855.8
Total upstream production (BOE/d)¹	818,900	816,000	800,900
Total downstream crude throughput (bbls/d)	665,400	666,700	655,200

_{¹See Advisory for production by product type.}
_{²Non-GAAP financial measure or contains a non-GAAP financial measure. See Advisory.}
_{³Adjusted Market Capture excludes the impact of inventory holding gains or losses. See Advisory for more details.}

First-quarter results

Operating¹

Cenovus’s total revenues were $13.3 billion in the first quarter, up from $12.8 billion in the fourth quarter of 2024, primarily due to rising commodity prices. Upstream revenues were $8.3 billion, an increase from $7.3 billion in the previous quarter, while Downstream revenues were $7.7 billion compared with $7.8 billion in the prior quarter.

Total operating margin⁴ was $2.8 billion, compared with $2.3 billion in the previous quarter. Upstream operating margin⁵ was $3.0 billion, an increase from $2.7 billion in the fourth quarter due to higher benchmark oil prices and favourable timing differences between production and sales. The company had a Downstream operating margin⁵ shortfall of $237 million compared with a shortfall of $396 million in the previous quarter, as adjusted market capture⁶ in U.S. Refining improved to 62%. Operating margin in the U.S. Refining segment included a $23 million inventory holding loss and $81 million of turnaround expenses.

Total Upstream production was 818,900 BOE/d in the first quarter, up from 816,000 BOE/d in the fourth quarter. Christina Lake production was 237,800 bbls/d, compared with 251,400 bbls/d in the prior quarter, having benefited from higher production rates following its fall turnaround. Foster Creek production was 202,700 bbls/d compared with 195,200 bbls/d in the fourth quarter, reflecting a successful well optimization program and two new sustaining well pads being brought online. Sunrise production was 52,100 bbls/d compared with 53,100 bbls/d in the fourth quarter. Production from the Lloydminster thermal assets increased to 109,900 bbls/d from 108,900 bbls/d in the prior quarter, while Lloydminster conventional heavy oil output rose to 21,800 bbls/d from 18,000 bbls/d in the fourth quarter. Production in the Conventional segment was 123,900 BOE/d, up from 117,800 BOE/d in the previous quarter.

In the Offshore segment, production was 68,800 BOE/d compared with 69,700 BOE/d in the fourth quarter. In Asia Pacific, production volumes were 57,200 BOE/d, lower than 62,200 BOE/d in the previous quarter, primarily due to timing of condensate lifting in Indonesia in the first quarter. In the Atlantic region, production was 11,600 bbls/d, an increase from 7,500 bbls/d in the prior quarter, due to increased output at the partner-operated Terra Nova field and the return to operations of the SeaRose floating production, storage and offloading (FPSO) vessel in the White Rose field.

Total Downstream crude throughput in the first quarter was 665,400 bbls/d, in line with fourth quarter throughput of 666,700 bbls/d. Crude throughput in Canadian Refining was 111,900 bbls/d, representing a record utilization rate of 104%, compared with 104,400 bbls/d in the previous quarter.

In U.S. Refining, crude throughput was 553,500 bbls/d, representing a utilization rate of 90%, compared with 562,300 bbls/d in the fourth quarter. U.S. Refining revenues were $6.4 billion, slightly lower than $6.6 billion in the previous quarter. Adjusted market capture⁶ in the U.S. was 62%, compared with 52% in the fourth quarter, benefiting from improved process unit reliability and the return of the Lima Refinery to full operations following a turnaround completed in the fourth quarter of 2024, while continuing to be impacted by a narrow heavy oil price differential.

_{⁴Non-GAAP financial measure. Total operating margin is the total of Upstream operating margin plus Downstream operating margin. See Advisory.}
_{⁵Specified financial measure. See Advisory.}
_{⁶Contains a non-GAAP financial measure. See Advisory.}

Financial

Cash from operating activities in the first quarter was $1.3 billion, compared with $2.0 billion in the fourth quarter. Adjusted funds flow was $2.2 billion, compared with $1.6 billion in the prior quarter, and excess free funds flow (EFFF) was $373 million, compared with a shortfall of $416 million in the fourth quarter. Net earnings in the first quarter were $859 million, compared with $146 million in the previous quarter. First-quarter financial results improved in part due to higher benchmark prices, higher Upstream sales volumes and improved Downstream market capture relative to the fourth quarter.

Long-term debt, including the current portion, was $7.5 billion as at March 31, 2025. Net debt increased from December 31, 2024 to $5.1 billion as at March 31, 2025, as free funds flow of $983 million was more than offset by returns to shareholders of $595 million, including the redemption of $200 million of Cenovus’s Series 5 preferred shares on March 31, 2025, and a $861 million build of non-cash working capital. The company continues to steward toward net debt of $4.0 billion and returning 100% of EFFF to shareholders over time in accordance with its financial framework.

In the first quarter of 2025, the company received a rating upgrade from Moody’s to Baa1 with a stable outlook. Cenovus remains committed to maintaining its investment grade credit ratings at S&P Global Ratings, Moody’s, Morningstar DBRS and Fitch Ratings.

Growth projects

In the Oil Sands segment, steaming of the first two well pads in the Narrows Lake field began in late April. The project remains on track for first oil early in the third quarter of 2025, as planned. At Sunrise, one well pad was brought online in April as the company continues to progress the facility’s growth plan to access higher-quality resource and fully utilize the asset’s steam capacity. The optimization project at Foster Creek is now approximately 75% complete and remains on schedule for startup in 2026. Preparations are being made to complete critical project tie-ins during the Foster Creek turnaround in the second quarter of 2025.

The West White Rose project continues to progress toward installation and commissioning of the offshore platform later this year. Preparations are underway to tow the CGS to its field location in the second quarter, where it will be mated with the topsides in the third quarter. The West White Rose project is now approximately 90% complete and remains on-schedule for first oil in the second quarter of 2026.

“These oil sands growth projects access some of the best resources in our portfolio,” McKenzie said. “At both Narrows Lake and Sunrise, we’re moving into new higher-quality development areas, which will drive lower steam-to-oil ratios and increased production without adding any new steam capacity and at a low capital cost. Once the West White Rose project is operating, we’ll be adding around 45,000 bbls/d of light sweet oil production tied to global pricing, generating significant free cash flow.”

Dividend declarations and share purchases

The Board of Directors has declared a quarterly base dividend of $0.20 per common share, payable on June 30, 2025, to shareholders of record as of June 13, 2025.

In addition, the Board has declared a quarterly dividend on each of the Cumulative Redeemable First Preferred Shares – Series 1, Series 2 and Series 7 – payable on June 30, 2025, to shareholders of record as of June 13, 2025, as follows:

Preferred shares dividend summary

Share series	Rate (%)	Amount ($/share)
Series 1	2.577	0.16106
Series 2	4.568	0.28472
Series 7	3.935	0.24594

All dividends paid on Cenovus’s common and preferred shares will be designated as “eligible dividends” for Canadian federal income tax purposes. Declaration of dividends is at the sole discretion of the Board and will continue to be evaluated on a quarterly basis.

In the first quarter, the company returned $595 million to shareholders, composed of $62 million from its purchase of 3 million shares through its normal course issuer bid (NCIB), $333 million through common and preferred share dividends and $200 million through the redemption of Cenovus’s Series 5 preferred shares. Subsequent to the quarter, the company purchased 10.9 million common shares through May 5, 2025 for $178 million.

2025 planned maintenance

The following table provides details on planned maintenance activities at Cenovus assets in 2025 and anticipated production or throughput impacts.

Potential quarterly production/throughput impact (Mbbls/d or MBOE/d)

(MBOE/d or Mbbls/d)	Q2	Q3	Q4	Annualized impact
Upstream
Oil Sands	30 – 40	5 – 7	–	10 – 12
Offshore	–	4 – 6	–	1 – 2
Conventional	–	–	–	–
Downstream
Canadian Refining	–	–	–	–
U.S. Refining	35 – 45	2 – 4	6 – 10	13 – 17

Potential turnaround expenses

($ millions)	Q2	Q3	Q4	Annualized impact
Downstream
Canadian Refining	–	–	–	–
U.S. Refining	240 – 295	80 – 95	40 – 50	440 – 520

Conference call today

Cenovus will host a conference call today, May 8, 2025, starting at 9 a.m. MT (11 a.m. ET).

For analysts wanting to join the call, please register in advance at Conference call registration.

To participate in the live conference call, you must complete the online registration form in advance of the conference call start time. Register ahead of time to receive a unique PIN to access the conference call via telephone. Once registered, participants can dial into the conference call from their telephone via the unique PIN or click on the “Call Me” option to receive an automated call directly on their telephone.

An audio webcast will also be available and archived for approximately 30 days.

Cenovus will also host its Annual Meeting of Shareholders today, May 8, 2025, in a virtual format beginning at 1 p.m. MT (3 p.m. ET). The webcast link to the Shareholders Meeting is available under Shareholder information in the Investors section of cenovus.com.

Advisory

Basis of Presentation

Cenovus reports financial results in Canadian dollars and presents production volumes on a net to Cenovus before royalties basis, unless otherwise stated. Cenovus prepares its financial statements in accordance with International Financial Reporting Standards (IFRS) Accounting Standards.

Barrels of Oil Equivalent

Natural gas volumes have been converted to barrels of oil equivalent (BOE) on the basis of six thousand cubic feet (Mcf) to one barrel (bbl). BOE may be misleading, particularly if used in isolation. A conversion ratio of one bbl to six Mcf is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil compared with natural gas is significantly different from the energy equivalency conversion ratio of 6:1, utilizing a conversion on a 6:1 basis is not an accurate reflection of value.

Product types

Product type by operating segment	Three months ended March 31, 2025
Oil Sands
Bitumen (Mbbls/d)	602.5
Heavy crude oil (Mbbls/d)	21.8
Conventional natural gas (MMcf/d)	11.4
Total Oil Sands segment production (MBOE/d)	626.2
Conventional
Light crude oil (Mbbls/d)	5.2
Natural gas liquids (Mbbls/d)	20.5
Conventional natural gas (MMcf/d)	589.3
Total Conventional segment production (MBOE/d)	123.9
Offshore
Light crude oil (Mbbls/d)	11.6
Natural gas liquids (Mbbls/d)	9.3
Conventional natural gas (MMcf/d)	287.2
Total Offshore segment production (MBOE/d)	68.8
Total Upstream production (MBOE/d)	818.9

Forward‐looking Information

This news release contains certain forward‐looking statements and forward‐looking information (collectively referred to as “forward‐looking information”) within the meaning of applicable securities legislation about Cenovus’s current expectations, estimates and projections about the future of the company, based on certain assumptions made in light of the company’s experiences and perceptions of historical trends. Although Cenovus believes that the expectations represented by such forward‐looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Forward‐looking information in this document is identified by words such as “anticipate”, “continue”, “deliver”, “drive”, “plan”, “position”, “progress”, “steward”, and “will” or similar expressions and includes suggestions of future outcomes, including, but not limited to, statements about: Net Debt; returning Excess Free Funds Flow to shareholders; navigating market volatility and growing shareholder returns; financial discipline and cost control; growth plans and projects; delivering long-term shareholder value; production guidance; the optimization project and turnaround at Foster Creek; timing of first oil at Narrows Lake; timing of well pads and first oil at Sunrise; the installation and commissioning of, and timing of first oil from, the West White Rose project; free cash flow; 2025 planned maintenance; and dividend payments.

Developing forward‐looking information involves reliance on a number of assumptions and consideration of certain risks and uncertainties, some of which are specific to Cenovus and others that apply to the industry generally. The factors or assumptions on which the forward‐looking information in this news release are based include, but are not limited to: the allocation of free funds flow; commodity prices, inflation and supply chain constraints; Cenovus’s ability to produce on an unconstrained basis; Cenovus’s ability to access sufficient insurance coverage to pursue development plans; Cenovus’s ability to deliver safe and reliable operations and demonstrate strong governance; and the assumptions inherent in Cenovus’s 2025 corporate guidance available on cenovus.com.

The risk factors and uncertainties that could cause actual results to differ materially from the forward‐looking information in this news release include, but are not limited to: the accuracy of estimates regarding commodity production and operating expenses, inflation, taxes, royalties, capital costs and currency and interest rates; risks inherent in the operation of Cenovus’s business; and risks associated with climate change and Cenovus’s assumptions relating thereto and other risks identified under “Risk Management and Risk Factors” and “Advisory” in Cenovus’s Management’s Discussion and Analysis (MD&A) for the year ended December 31, 2024.

Except as required by applicable securities laws, Cenovus disclaims any intention or obligation to publicly update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned that the foregoing lists are not exhaustive and are made as at the date hereof. Events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward‐looking information. For additional information regarding Cenovus’s material risk factors, the assumptions made, and risks and uncertainties which could cause actual results to differ from the anticipated results, refer to “Risk Management and Risk Factors” and “Advisory” in Cenovus’s MD&A for the periods ended December 31, 2024 and March 31, 2025 and to the risk factors, assumptions and uncertainties described in other documents Cenovus files from time to time with securities regulatory authorities in Canada (available on SEDAR+ at sedarplus.ca, on EDGAR at sec.gov and Cenovus’s website at cenovus.com).

Specified Financial Measures

This news release contains references to certain specified financial measures that do not have standardized meanings prescribed by IFRS Accounting Standards. Readers should not consider these measures in isolation or as a substitute for analysis of the company’s results as reported under IFRS Accounting Standards. These measures are defined differently by different companies and, therefore, might not be comparable to similar measures presented by other issuers. For information on the composition of these measures, as well as an explanation of how the company uses these measures, refer to the Specified Financial Measures Advisory located in Cenovus’s MD&A for the period ended March 31, 2025 (available on SEDAR+ at sedarplus.ca, on EDGAR at sec.gov and on Cenovus’s website at cenovus.com) which is incorporated by reference into this news release.

Upstream Operating Margin and Downstream Operating Margin

Upstream Operating Margin and Downstream Operating Margin, and the individual components thereof, are included in Note 1 to the interim Consolidated Financial Statements.

Total Operating Margin

Total Operating Margin is the total of Upstream Operating Margin plus Downstream Operating Margin.

	Upstream ⁽⁷⁾			Downstream ⁽⁷⁾			Total
($ millions)	Q1 2025	Q4 2024	Q1 2024	Q1 2025	Q4 2024	Q1 2024	Q1 2025	Q4 2024	Q1 2024
Revenues
Gross Sales	9,252	8,240	7,864	7,705	7,837	8,233	16,957	16,077	16,097
Less: Royalties	(906)	(914)	(747)	—	—	—	(906)	(914)	(747)
	8,346	7,326	7,117	7,705	7,837	8,233	16,051	15,163	15,350
Expenses
Purchased Product	1,167	1,000	771	7,082	7,364	6,885	8,249	8,364	7,656
Transportation and Blending	3,247	2,816	2,811	—	—	—	3,247	2,816	2,811
Operating	893	842	898	854	866	787	1,747	1,708	1,685
Realized (Gain) Loss on Risk Management	(9)	(2)	6	6	3	1	(3)	1	7
Operating Margin	3,048	2,670	2,631	(237)	(396)	560	2,811	2,274	3,191

_{⁷Found in the March 31, 2025, or the December 31, 2024, interim Consolidated Financial Statements. Revenues and purchased product for Q1 2024 Downstream operations were revised. See Note 21 of our March 31, 2025, interim Consolidated Financial Statements.}

Adjusted Funds Flow, Free Funds Flow and Excess Free Funds Flow

The following table provides a reconciliation of cash from (used in) operating activities found in Cenovus’s Consolidated Financial Statements to Adjusted Funds Flow, Free Funds Flow and Excess Free Funds Flow. Adjusted Funds Flow per Share – Basic and Adjusted Funds Flow per Share – Diluted are calculated by dividing Adjusted Funds Flow by the respective basic or diluted weighted average number of common shares outstanding during the period and may be useful to evaluate a company’s ability to generate cash.

	Three Months Ended
($ millions)	March 31, 2025	December 31, 2024	March 31, 2024
Cash From (Used in) Operating Activities ⁽⁸⁾	1,315	2,029	1,925
(Add) Deduct:
Settlement of Decommissioning Liabilities	(36)	(64)	(48)
Net Change in Non-Cash Working Capital	(861)	492	(269)
Adjusted Funds Flow	2,212	1,601	2,242
Capital Investment	1,229	1,478	1,036
Free Funds Flow	983	123	1,206
Add (Deduct):
Base Dividends Paid on Common Shares	(327)	(330)	(262)
Purchase of Common Shares under Employee Benefit Plan	(58)	(43)	—
Dividends Paid on Preferred Shares	(6)	(18)	(9)
Settlement of Decommissioning Liabilities	(36)	(64)	(48)
Principal Repayment of Leases	(83)	(80)	(70)
Acquisitions, Net of Cash Acquired	(100)	(3)	(10)
Proceeds From Divestitures	—	(1)	25
Excess Free Funds Flow	373	(416)	832

_{⁸Found in the March 31, 2025, or the December 31, 2024, interim Consolidated Financial Statements.}

Adjusted Market Capture

Adjusted market capture contains a non-GAAP financial measure and is used in the company’s U.S. Refining segment to provide an indication of margin captured relative to what was available in the market based on widely-used benchmarks. Cenovus defines adjusted market capture as refining margin, net of holding gains and losses, divided by the weighted average 3-2-1 market benchmark crack, net of RINs, expressed as a percentage. The weighted average crack spread, net of RINs, is calculated on Cenovus’s operable capacity-weighted average of the Chicago and Group 3 3-2-1 benchmark market crack spreads, net of RINs.

The company previously disclosed market capture which did not exclude the effect of inventory holding gains or losses. Cenovus replaced market capture with adjusted market capture to exclude the impact of inventory holding gains or losses. The company believes this metric provides more comparability and accuracy when measuring the cash generating performance of our downstream operations. Comparative periods were revised to conform with our current presentation.

($ millions)	Three months ended March 31, 2025	Three months ended December 31, 2024
Revenues ⁽⁹⁾	6,423	6,574
Purchased Product ⁽⁹⁾	6,006	6,296
Gross Margin	417	278
Inventory Holding (Gain) Loss	23	45
Adjusted Gross Margin	440	323
Total Processed Inputs (Mbbls/d)	581.0	588.4
Adjusted Gross Margin ($/bbl)	8.41	5.98
Operable Capacity (Mbbls/d)	612.3	612.3
Operable Capacity by Regional Benchmark (percent)
Chicago 3-2-1 Crack Spread Weighting	81	81
Group 3 3-2-1 Crack Spread Weighting	19	19
Benchmark Prices and Exchange Rate
Chicago 3-2-1 Crack Spread (US$/bbl)	13.68	12.12
Group 3 3-2-1 Crack Spread (US$/bbl)	16.48	12.66
RINs (US$/bbl)	4.76	4.02
US$ per C$1 – Average	0.697	0.715
Weighted Average Crack Spread, Net of RINs ($/bbl)	13.58	11.47
Adjusted Market Capture (percent)	62	52

_{⁹Found in Note 1 of the March 31, 2025, or the December 31, 2024, interim Consolidated Financial Statements.}

Cenovus Energy Inc.

Cenovus Energy Inc. is an integrated energy company with oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The company is committed to maximizing value by developing its assets in a safe, responsible and cost-efficient manner, integrating environmental, social and governance considerations into its business plans. Cenovus common shares and warrants are listed on the Toronto and New York stock exchanges, and the company’s preferred shares are listed on the Toronto Stock Exchange. For more information, visit cenovus.com.

Find Cenovus on Facebook, LinkedIn, YouTube and Instagram.

Cenovus contacts

Investors
Investor Relations general line
403-766-7711

Media
Media Relations general line
403-766-7751

The MIL Network –

May 8, 2025

MIL-OSI United Kingdom: Prime Minister’s remarks at the London Defence Conference: 8 May 2025

Source: United Kingdom – Executive Government & Departments 3

Speech

Prime Minister’s remarks at the London Defence Conference: 8 May 2025

Prime Minister’s speech at the London Defence Conference this morning.

It is a real privilege to be able to speak to you here today on VE Day.

80 years to the day…

Since an expectant nation turned on the wireless – as of course it was then…

To hear Churchill announce victory in our war against Nazi Germany.

Just imagine it.

Beacons lit across the country…

Bunting up…

People raising their glasses and thanking the bravery of our armed forces…

As we will do today.

And then they came to the streets.

The late Queen Elizabeth II – who was then a young princess of just 19 –

Remembering going unnoticed in the crowds, swept up in a ‘tide of happiness and relief’.

A celebration of defiance…

Of sacrifice…

The courage of that lion-hearted generation…

The greatest victory in the history of this great nation.

A victory not just for Britain.

But for good against the assembled forces of hatred, tyranny and evil…

For the light of our values – in a world that tried to put them out.

And, as you know…

There are people who would happily do likewise today.

Our values and security are confronted on a daily basis.

And we have to rise to this moment.

80 years ago, just round the corner from here, Churchill said…

“We must begin the task of rebuilding…

Do our utmost to make this country a land in which all have a chance…

And in which all have a duty to our countrymen”.

The post-war generation took on that task on with relish.

And we must use this moment…

To do the same.

Deepening our partnerships with allies old and new –

From across Europe to meet the defence challenges of our age…

To the United States…

an indispensable ally for our economic and national security…

As you know, talks with the US have been ongoing – and you’ll hear more about that later today.

But make no mistake – I will always act in our national interest…

For workers, businesses and families…

To deliver security and renewal for our country.

Because the world has changed, decisively.

I mean, I remember – as some of you will also too…

The day the Berlin Wall came down in 1989.

A landmark moment for my generation.

A sense of freedom, of possibility, of peace.

European countries finally free to choose their own future.

I didn’t think then that in my lifetime I would see Russian tanks entering a European country again.

Yet here we are.

And here we stand resolutely…

With the people of Ukraine.

Together with our allies…

Showing the strength of our values…

As well as the value of our strength.

A few weeks ago, I was with the Prime Minister of New Zealand…

To visit our forces delivering Operation INTERFLEX in Wiltshire.

This is a multinational military operation…

That has trained more than 50,000 Ukrainian troops for the frontline.

Men and women who are not soldiers by trade…

Far from it.

They are accountants, they are builders, businesspeople, you name it.

Who stepped up from their lives…

Stepped away from their families…

And, as veterans did eighty years ago…

Answered the call to defend freedom and liberty in their homeland.

And as these brave men and women leave their training in Britain…

And head to the frontline of freedom…

They are applauded by their British trainers.

I’ve seen this a couple of times now – it’s a really humbling sight.

A sign of our support and solidary in their struggle…

Pride and admiration at their courage.

Because in this country we know – this isn’t just a fight for freedom and democracy in Ukraine.

No – it is a new, more dangerous era of history.

A period of global instability…

That fuels insecurity for working people here at home.

The British people have already paid a price for Putin’s aggression in Ukraine, with rising bills and prices.

Russia already menaces our security…

They’ve launched cyber-attacks on our NHS.

Spread disinformation online…

And we cannot forget, just a few years ago – a chemical weapons attack on our streets in Salisbury.

In broad daylight, in the heart of England.

No – the battle lines in Ukraine are the front line for Western values.

And the argument that defines this age is simple…

National security is economic security.

And that is why we are boosting defence spending, with the largest sustained increase since the Cold War…

An increase of £13.4bn year on year compared with where we are today.

Not just meeting our commitment to spend 2.5% of our GDP on defence…

But bringing it forward to 2027.

And, alongside that, a new ambition for defence spending to rise to 3% of GDP in the next Parliament.

But look, I do want to be clear – this investment has two objectives.

Yes of course, the first goal is always the safety and security of the United Kingdom.

But the second is to create jobs, wealth and opportunity in every corner of our country.

Secure at home, strong abroad.

You know – at times like this there is a lot of talk about the end of the peace dividend.

Well, our task now is to seize the defence dividend.

Felt directly in the pockets of working people.

Rebuilding our industrial base.

Creating the jobs of the future.

The skills for the next generation…

From the shipyards in Scotland…

To the missile systems built in Stevenage and Belfast….

The artillery barrels made at Sheffield forgemasters…

And the land vehicle development in Wales…

Mark my words – the British defence industry will be the engine of national renewal.

Because this isn’t just about increasing our defence spending…

It’s also about reform and rebuilding.

And in the coming weeks, we will publish a first-of-its kind, root and branch strategic defence review…

It will scrutinise every aspect of defence – to determine how we can best meet the threats of today…

And return Britain to warfighting readiness.

Alongside our National Security Strategy and our defence industrial strategy…

We will set out a major overhaul of the British Armed Services…

Starting by treating our Armed Forces with the respect that they deserve –

delivering the largest pay rise for over 20 years…

And good homes for service personnel and their families.

But also – the biggest shift in mindset in my lifetime –

To see security and defence…

Not as one priority amongst many others…

But as the central organising principle of government –

The first thought in the morning – the last at night…

The pillar on which everything else stands or falls.

Because – as in 1945…

This has to be a collective endeavour.

A national effort.

A time for the state, business and society to join hands…

In pursuit of the security of the nation…

And the prosperity of its people.

So whether you’re a world-renowned business…

Or a smaller, family-run firm…

You have a vital part to play in boosting Britain’s defences.

That is why we have launched a new unit – to help SMEs get their foot in the door of the defence supply chain.

Because I am clear – the future belongs to the innovators.

Take the announcement made just last week…

StormShroud drones…

Flying as uncrewed guardians to RAF pilots and crew…

Now, for the first time, made in Britain.

An investment that supports hundreds of highly skilled jobs…

Boosting our capabilities for the modern age of drone-based warfare.

Possible – only because of industry and military working together.

Or take the submarines that we’re building in Barrow.

This one is personal for me.

Not just because I was there in Barrow at the keel laying in March –

Not just because I met the workers and the apprentices and saw for myself what it means for them…

And of course the 42,000 jobs it supports up and down the country…

It’s also personal for me because just a few days before that visit…

I went up to the Firth of Clyde, as another boat made in Barrow –

A Vanguard-class submarine…

Was coming in off a record-breaking patrol.

We boarded the sub and met the crew – who had been at sea for months on end.

And meeting those remarkable men and women is something I’ll never forget.

There is no greater duty than the one that they carry –

No task more vital.

Our security…

Nato’s security…

Depends on them.

They are the quiet custodians of the nation’s greatest capability…

Part of an unbroken watch that has been maintained for 55 years.

And in this moment – it’s time for the rest of us to step up and rebuild our country…

Leading the world in the opportunities of the future.

Recently, I visited the Carrier Strike Group off the coast of Cornwall…

And stayed aboard HMS Prince of Wales…

It was frankly humbling to see F35s taking off with just 100metres of deck to take off – and then returning and hovering to land on a sixpence

So imagine how I felt later the very same day when I went to see the apprentices at Rolls Royce…Who had made the engines for those very F35s.

And we need to keep those apprentices busy…

And mark my words – we are going to do that.

With the most ambitious programme of work to secure and rebuild our country since 1945.

Take an example: today, I can announce a £563 million contract to maintain Britain’s fleet of Typhoon fighter jets.

The backbone of Britain’s air defence…

Proudly part of the flypast for VE Day that you may have seen on Monday.

All 130 Typhoons will have their engines maintained by Rolls-Royce…

Supporting hundreds of jobs in Bristol and beyond…

Defending British airspace.

Helping a new generation of service come of age.

And just imagine – what this means for a young apprentice, aged about 18.

Entering into the work force with a good job.

The pride of that work – as a proud I understand from my dad…

Of knowing that what you do, what you make matters.

The pride of following in the footsteps of local families…

Who have been the backbone of their communities for generations.

The grandchildren of the young men who fought on the beaches of Normandy…

Now the submariners on a Vanguard-class submarine.

The descendants of the code breakers at Bletchley…

Now learning the skills to build a new generation of nuclear submarines in Barrow.

And the pride of stepping into our national story…

So those who follow us can say…

We also rose to meet the moment.

We also stood firm against tyranny and oppression.

We also rebuilt Britain – so it serves everyone that serves our country.

Because on VE day 80 years ago…

Politicians of all parties and stripes understood that a people who had sacrificed so much were owed a great debt.

And the truth is – people today are too.

After years of being buffeted about by insecurity and uncertainty…

They are owed the same security…

the same prosperity and peace of mind…

A good home to live in…

A well-paid job with strong rights at work…

An NHS that is there for them when they need it…

all underpinned by the foundation of national security.

A defence dividend – that will be felt in the pockets of working people and the prosperity of the country.

An investment in peace…

But also an investment in British pride and the British people…

To build a nation that, once again, lives up to the promises made to that generation…

Who fought for our values, our freedom and our security.

Thank you very much indeed.

Updates to this page

Published 8 May 2025

MIL OSI United Kingdom –

May 8, 2025
MIL-OSI Asia-Pac: Appeal judge named

Source: Hong Kong Information Services

Chief Executive John Lee has accepted the recommendation of the Judicial Officers Recommendation Commission (JORC) that William Gillow Gibbes Austen Young be appointed as a non-permanent Court of Final Appeal judge.

Subject to the Legislative Council’s endorsement, the Chief Executive will make the appointment under Article 88 of the Basic Law and section 9 of the Hong Kong Court of Final Appeal Ordinance.

Mr Lee announced that he is pleased to accept the JORC’s recommendation, noting that Mr Young retired from his role as a Permanent Judge of New Zealand’s Supreme Court, that country’s final court of appeal, in April 2022.

“He is a judge of eminent standing and reputation,” the Chief Executive said. “I am confident that he will contribute substantively to the Court of Final Appeal.”

Mr Lee highlighted that with Mr Young’s appointment, the panel of non-permanent judges from other common law jurisdictions will consist of six eminent judges from the UK, Australia and New Zealand.

“The presence of these esteemed overseas jurists as non-permanent judges of the Court of Final Appeal is a manifestation of the independence of the Judiciary in the Hong Kong Special Administrative Region as protected by the Basic Law.

“Their participation demonstrates a high degree of confidence in the Hong Kong SAR’s judicial system, and enables Hong Kong to maintain strong links with other common law jurisdictions.”

The Chief Executive expressed confidence that distinguished jurists bringing profound judicial experience from overseas will remain a unique strength of Hong Kong’s judicial system.

Article 90 of the Basic Law and section 7A of the ordinance provide that the Chief Executive shall obtain the endorsement of the Legislative Council on the appointment of Court of Final Appeal judges. The Government will seek such an endorsement in due course.

MIL OSI Asia Pacific News –

May 8, 2025
MIL-OSI Economics: Samsung TV Plus To Exclusively Live Stream SMTOWN LIVE 2025 in L.A. Globally on New SMTOWN Channel

Source: Samsung

Samsung Electronics today announced that Samsung TV Plus, its free ad-supported streaming (FAST) service, will serve as the exclusive global livestream platform for SMTOWN LIVE 2025 in L.A., the landmark K-pop concert commemorating the 30th anniversary of SM Entertainment. The live broadcast will air on May 11, from Dignity Health Sports Park in Los Angeles, to audiences across 18 countries via Samsung TV Plus.

This milestone collaboration with SM Entertainment — the powerhouse behind K-pop’s global rise — marks a significant moment for Samsung TV Plus as it continues to redefine how fans worldwide experience Korean content.

“Through our partnership with SM Entertainment, we’re leveraging Samsung TV Plus’s technology to bring the richness of K-Content to more viewers than ever before,” said Yong Su Kim, Executive Vice President of the Visual Display Business at Samsung Electronics. “This global event marks a significant moment for K-Pop fans everywhere and we’re proud to broaden access to premium Korean content for audiences around the world.”

Unprecedented Global Access to K-pop’s Biggest Stage
SMTOWN LIVE 2025 in L.A. will feature a star-studded lineup of SM Entertainment’s leading artists, including TVXQ!, SUPER JUNIOR, SHINee (KEY, MINHO), EXO (SUHO, CHANYEOL, KAI), Red Velvet (IRENE, SEULGI, JOY), NCT 127, NCT DREAM, WayV, aespa, RIIZE, NCT WISH, Hearts2Hearts, SMTR25, and much more.

In addition to beloved fan-favorite tracks, Samsung TV Plus will exclusively showcase live performances, including:

The first US stage of “poppop” by NCT WISH, following their recent music show win
The live performance of “Wait On Me” by EXO’s KAI, a chart-topping track that reached No.1 on iTunes in 30 regions and topped China’s QQ Music digital album chart

These moments will be available only on Samsung TV Plus, providing fans in select countries with exclusive front-row access.

Dedicated SMTOWN Channel Enhances the K-pop Viewing Experience
To further elevate fan engagement, Samsung TV Plus has launched a dedicated SMTOWN Channel that offers:

Full concert replays of SMTOWN LIVE 2025 in L.A.
Music videos and curated content highlighting SM artists and the legacy of SM Entertainment

The SMTOWN LIVE 2025 in L.A. replay will be available exclusively on Samsung TV Plus in select countries for a six-month period, further reinforcing the platform’s role as a premier global destination for K-pop content.

A Growing Hub for Global K-Content
Samsung TV Plus continues to grow as a global destination for Korean entertainment, offering over 4,000 hours of free-to-stream dramas, thrillers, romance, crime series, and music programming. Available on more than 630 million Samsung devices across 30 countries, the platform provides a seamless, ad-supported viewing experience to millions of users — no subscriptions or logins required.

With the SMTOWN LIVE 2025 in L.A. partnership, Samsung TV Plus solidifies its leadership in global K-content distribution — expanding access, deepening fan connections, and bringing iconic Korean entertainment into more homes around the world.

For more information on how to watch SMTOWN LIVE 2025 in L.A. and explore the full Samsung TV Plus offering, visit www.samsung.com.

MIL OSI Economics –

May 8, 2025
MIL-OSI Europe: Young Professionals from Central Asia Complete Training Course on Strategic Planning

Source: Organization for Security and Co-operation in Europe – OSCE

Headline: Young Professionals from Central Asia Complete Training Course on Strategic Planning

Participants engaged in discussion during the training session, Istanbul, May 2025. (OSCE) Photo details

An intensive training course on strategic planning for young advisers from Central Asian countries was held in Istanbul, Republic of Türkiye, from 5 to 9 May 2025. The event was organized by the OSCE Programme Offices in Bishkek and Dushanbe, with support from the OSCE Project Co-ordinator in Uzbekistan, the OSCE Programme Office in Astana, and the OSCE Centre in Ashgabat. Mr. Santeri Leinonen, Special Representative of the OSCE Chairperson-in-Office on Youth and Security, welcomed the participants via video message.
The course aimed to enhance practical skills and deepen understanding of the role of strategic advisers in today’s dynamic environment. Participants — young professionals from government institutions, academia, and other relevant organizations — explored key aspects of strategic analysis, communication, and stakeholder engagement.
The training covered the following thematic areas:

The role of political and strategic advisers in public administration;

Strategy development and implementation in rapidly evolving political contexts;

Engaging internal and external stakeholders, including inclusive approaches to various social groups;

Developing communication strategies, including public speaking, working with the media, and tools for public diplomacy.

The course was based on practical learning and active participation. Attendees improved their skills in drafting analytical materials, speeches, and briefings on key policy and development issues.
Delivered in an interactive format, the training served as a platform for knowledge exchange and strengthened regional co-operation in the field of planning and advisory work.

MIL OSI Europe News –

May 8, 2025
MIL-OSI Economics: Secretary-General of ASEAN inaugurates ASEAN-New Zealand Photo Exhibition

Source: ASEAN

At the ASEAN Headquarters/ASEAN Secretariat today, Secretary-General of ASEAN, Dr. Kao Kim Hourn, along with Ambassador of New Zealand to ASEAN, H.E. Joanna Anderson, and Permanent Representative of Viet Nam to ASEAN, H.E. Ton Thi Ngoc Huong, officially inaugurated the ASEAN-New Zealand Photo Exhibition, commemorating the 50th anniversary of ASEAN-New Zealand Dialogue Relations. SG Dr. Kao welcomed the exhibition which offers an excellent opportunity to reflect on, and to gain deeper appreciation of the strong and enduring partnership and cooperation between ASEAN and New Zealand built over the past five decades. The event was also attended by the Committee of Permanent Representative to ASEAN (CPR) and the Ambassador of Timor-Leste to ASEAN.

Download the full remarks here.

The post Secretary-General of ASEAN inaugurates ASEAN-New Zealand Photo Exhibition appeared first on ASEAN Main Portal.

MIL OSI Economics –

May 8, 2025
MIL-OSI China: China Coast Guard expels Japanese fishing vessel illegally entering waters of China’s Diaoyu Dao 2025-05-08 17:18:26 China Coast Guard expelled a Japanese fishing vessel illegally entered the territorial waters of China’s Diaoyu Dao, said Liu Dejun, spokesman for the China Coast Guard on Thursday.
Source: People’s Republic of China – Ministry of National Defense
loading…

MIL OSI China News –
May 8, 2025

MIL-OSI: ACM Research Reports First Quarter 2025 Results

Source: GlobeNewswire (MIL-OSI)

FREMONT, Calif., May 08, 2025 (GLOBE NEWSWIRE) — ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced packaging applications, today reported financial results for its first quarter ended March 31, 2025.

“Our first quarter results mark a good start to 2025. We delivered 13% year-over-year revenue growth, solid profitability, and positive cash flow from operations,” said Dr. David Wang, President and Chief Executive Officer of ACM. “We achieved several strategic milestones: including the qualification of our high-temperature SPM tool by a leading logic customer in China, customer acceptance for our backside/bevel etch tool from a U.S. customer, and we received the 2025 3D InCites Technology Enablement Award for our proprietary Ultra ECP ap-p tool, which we believe is the world’s first to utilize horizontal plating for panel applications. These achievements highlight ACM’s technology leadership in both front-end processing and advanced packaging applications, which we believe will allow us to play a key role as the global industry demands innovation to advance the ever-evolving semiconductor requirements for AI.”

“For 2025, we expect incremental revenue contribution from Tahoe, SPM, and furnace tools; and progress in customer evaluations of Track, PECVD, and panel-level packaging platforms. We believe ACM’s focused effort on developing world-class tools across our customer base will also support our efforts for additional major customer wins in global markets. We are also investing in our Oregon facility to serve as a base for customer evaluations, technology development and initial production for our global customers.”

	Three Months Ended March 31,
	GAAP				Non-GAAP(1)
	2025		2024		2025		2024
	(dollars in thousands, except EPS)
Revenue	$	172,347	$	152,191	$	172,347	$	152,191
Gross margin		47.9%		52.0%		48.2%		52.5%
Income from operations	$	25,777	$	25,232	$	35,594	$	39,801
Net income attributable to ACM Research, Inc.	$	20,380	$	17,433	$	31,279	$	34,597
Basic EPS	$	0.32	$	0.28	$	0.49	$	0.56
Diluted EPS	$	0.30	$	0.26	$	0.46	$	0.52

^{(1) Reconciliations to U.S. generally accepted accounting principles (“GAAP”) financial measures from non-GAAP financial measures are presented below under “Reconciliation of GAAP to Non-GAAP Financial Measures.” Non-GAAP financial measures exclude stock-based compensation and, with respect to net income (loss) attributable to ACM Research, Inc. and basic and diluted earnings per share, also exclude unrealized gain (loss) on short-term investments.}

Outlook

ACM is maintaining its revenue guidance range of $850 million to $950 million for fiscal year 2025. This expectation is based on ACM management’s current assessment of the continuing impact from international trade policy, together with various expected spending scenarios of key customers, supply chain constraints, and the timing of acceptances for first tools under evaluation in the field, among other factors.

Operating Highlights and Recent Announcements

Shipments. Total shipments in the first quarter of 2025 were $157 million, compared to $245 million for the first quarter of 2024. This decrease is due in part to customer pull-ins in the fourth quarter of 2024, which contributed to stronger total shipments for that period. For reference, combined total shipments for the fourth quarter of 2024 and the first quarter of 2025 grew by 8.9% versus the prior year periods. We anticipate a return to year-on-year growth in total shipments for the second quarter of 2025. Total shipments include deliveries for revenue in the quarter and deliveries of first tool systems awaiting customer acceptance for potential revenue in future quarters.
Qualification of High-Temp SPM Tool in China. ACM’s single-wafer high-temperature SPM tool was qualified by a key logic device manufacturer in mainland China. Featuring a proprietary nozzle that reduces acid mist and maintenance needs, the tool enhances particle control and system uptime. It supports wet etching and wafer cleaning for technology nodes at 28nm and below. ACM has now delivered SPM tools to 13 customers.
Recognized for Innovation in High-Volume Fan-Out Panel-Level Packaging Solutions. ACM won the 2025 3D InCites Technology Enablement Award for its Ultra ECP ap-p tool, the first commercially available high-volume copper deposition system for the large panel market. This innovative system supports advanced panel sizes and delivers high uniformity through ACM’s proprietary horizontal plating approach, which we expect to help address integration challenges in advanced semiconductor packaging.
Appointment of New Board Member. ACM appointed Charlie Pappis to its Board of Directors, effective March 15, 2025.

First Quarter 2025 Financial Summary

Unless otherwise noted, the following figures refer to the first quarter of 2025 and comparisons are with the first quarter of 2024.

Revenue was $172.3 million, up 13.2%, reflecting higher sales of single wafer cleaning, Tahoe and semi-critical cleaning equipment and ECP (front-end and packaging), furnace and other technologies.
Gross margin was 47.9% versus 52.0%. Non-GAAP gross margin, which excludes stock-based compensation, was 48.2% versus 52.5%. Gross margin exceeded ACM’s previously disclosed long-term business model target range of 42% to 48%. ACM expects gross margin to vary from period to period due to a variety of factors, such as product mix, currency impacts and sales volume.
Operating expenses were $56.8 million, up 5.4%. Operating expenses as a percentage of revenue decreased to 32.9% from 35.4%. Non-GAAP operating expenses, which exclude the effect of stock-based compensation, were $47.5 million, up 18.4%. Non-GAAP operating expenses as a percentage of revenue increased to 27.6% from 26.3%.
Operating income was $25.8 million, up 2.2%. Operating margin was 15.0% compared to 16.6%. Non-GAAP operating income, which excludes the effect of stock-based compensation, was $35.6 million, a decrease of 10.6%. Non-GAAP operating margin, which excludes stock-based compensation, was 20.7% compared to 26.2%.
Unrealized loss on short-term investments was $1.1 million, compared to $2.6 million. Unrealized loss reflects the change in market value of the investments by ACM’s principal operating subsidiary, ACM Research (Shanghai), Inc. The value is marked-to-market quarterly and is excluded in the non-GAAP financial metrics.
Income tax expense was $2.2 million, compared to $4.4 million.
Net income attributable to ACM Research, Inc. was $20.4 million, compared to $17.4 million. Non-GAAP net income attributable to ACM Research, Inc., which excludes the effect of stock-based compensation and unrealized loss on short-term investments, was $31.3 million, compared to $34.6 million.
Net income per diluted share attributable to ACM Research, Inc. was $0.30, compared to $0.26. Non-GAAP net income per diluted share, which excludes the effect of stock-based compensation and unrealized loss on short-term investments, was $0.46, compared to $0.52.
Cash and cash equivalents, plus restricted cash and short-term and long-term time deposits were $498.4 million at March 31, 2025, compared to $441.9 million at December 31, 2024.

Conference Call Details

A conference call to discuss results will be held on Thursday, May 8, 2025, at 8:00 a.m. Eastern Time (8:00 p.m. China Time). To join the conference call via telephone, participants must use the following link to complete an online registration process. Upon registering, each participant will receive email instructions to access the conference call, including dial-in information and a PIN number allowing access to the conference call. This pre-registration process is designed by the operator to reduce delays due to operator congestion when accessing the live call.

Online Registration: https://register-conf.media-server.com/register/BI300a7bc629bd43d98fcb1268d481b156

Participants who have not pre-registered may join the webcast by accessing the link at ir.acmr.com/news-events/events.

A live and archived webcast will be available on the Investors section of the ACM website at www.acmr.com.

Use of Non-GAAP Financial Measures

ACM presents non-GAAP gross margin, operating expenses, operating income, net income attributable to ACM Research, Inc. and basic and diluted earnings per share as supplemental measures to GAAP financial measures regarding ACM’s operational performance. These supplemental measures exclude the impact of stock-based compensation, which ACM does not believe is indicative of its core operating results. In addition, non-GAAP net income attributable to ACM Research, Inc. and basic and diluted earnings per share exclude the effect of stock-based compensation and unrealized gain (loss) on short-term investments, which ACM also believes are not indicative of its core operating results. A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is provided below under “Reconciliation of GAAP to non-GAAP Financial Measures.”

ACM believes these non-GAAP financial measures are useful to investors in assessing its operating performance. ACM uses these financial measures internally to evaluate its operating performance and for planning and forecasting of future periods. Financial analysts may focus on and publish both historical results and future projections based on the non-GAAP financial measures. ACM also believes it is in the best interests of investors for ACM to provide this non-GAAP information.

While ACM believes these non-GAAP financial measures provide useful supplemental information to investors, there are limitations associated with the use of these non-GAAP financial measures. These non-GAAP financial measures may not be reported by competitors, and they may not be directly comparable to similarly titled measures of other companies due to differences in calculation methodologies. The non-GAAP financial measures are not an alternative to GAAP information and are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures. They should be used only as a supplement to GAAP information and should be considered only in conjunction with ACM’s consolidated financial statements prepared in accordance with GAAP.

Forward-Looking Statements

Certain statements contained in this press release are not historical facts and may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “plans,” “expects,” “believes,” “anticipates,” “designed,” and similar words are intended to identify forward-looking statements. Forward-looking statements are based on ACM management’s current expectations and beliefs, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. A description of certain of these risks, uncertainties and other matters can be found in filings ACM makes with the U.S. Securities and Exchange Commission, all of which are available at www.sec.gov. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by ACM. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ACM undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in its expectations with regard to these forward-looking statements or the occurrence of unanticipated events.

About ACM Research, Inc.

ACM develops, manufactures and sells semiconductor process equipment spanning cleaning, electroplating, stress-free polishing, vertical furnace processes, track, PECVD, and wafer- and panel-level packaging tools, enabling advanced and semi-critical semiconductor device manufacturing. ACM is committed to delivering customized, high-performance, cost-effective process solutions that semiconductor manufacturers can use in numerous manufacturing steps to improve productivity and product yield. For more information, visit www.acmr.com.

© ACM Research, Inc. ULTRA ECP ap and the ACM Research logo are trademarks of ACM Research, Inc. For convenience, these trademarks appear in this press release without ™ symbols, but that practice does not mean that ACM will not assert, to the fullest extent under applicable law, its rights to the trademarks.

For investor and media inquiries, please contact:

In the United States:	The Blueshirt Group
	Steven C. Pelayo, CFA
	(360)808-5154
	steven@blueshirtgroup.co

In China:	The Blueshirt Group Asia
	Gary Dvorchak, CFA
	+86 (138) 1079-1480
	gary@blueshirtgroup.co

ACM RESEARCH, INC.
Condensed Consolidated Balance Sheets

	March 31, 2025			December 31, 2024
	(Unaudited)
	(In thousands)
Assets
Current assets:
Cash and cash equivalents	$	457,240		$	407,445
Restricted cash		10,586			3,865
Short-term time deposits		17,202			17,277
Short-term investment		18,319			19,373
Accounts receivable, net		387,849			387,045
Other receivables		35,050			41,859
Inventories, net		609,567			597,984
Advances to related party		1,384			1,024
Prepaid expenses and other current assets		10,677			7,507
Total current assets		1,547,874			1,483,379
Property, plant and equipment, net		277,065			269,272
Operating lease right-of-use assets, net		17,747			14,038
Intangible assets, net		2,997			3,461
Long-term time deposits		13,393			13,275
Deferred tax assets		16,457			14,781
Long-term investments		54,814			37,063
Other long-term assets		3,421			20,452
Total assets	$	1,933,768		$	1,855,721
Liabilities and Equity
Current liabilities:
Short-term borrowings	$	24,951		$	32,814
Current portion of long-term borrowings		67,935			44,472
Related party accounts payable		19,285			16,133
Accounts payable		116,441			139,294
Advances from customers		241,456			243,949
Deferred revenue		10,781			8,537
Income taxes payable		6,168			12,779
FIN-48 payable		19,483			19,466
Other payables and accrued expenses		118,814			121,657
Current portion of operating lease liability		3,564			2,132
Total current liabilities		628,878			641,233
Long-term borrowings		134,540			105,525
Long-term operating lease liability		6,149			3,840
Other long-term liabilities		8,848			9,217
Total liabilities		778,415			759,815
Commitments and contingencies
Equity:
Stockholders’ equity:
Class A Common stock		6			6
Class B Common stock		1			1
Additional paid-in capital		700,191			677,476
Retained earnings		280,380			260,000
Statutory surplus reserve		30,514			30,514
Accumulated other comprehensive loss		(61,946	)		(63,372	)
Total ACM Research, Inc. stockholders’ equity		949,146			904,625
Non-controlling interests		206,207			191,281
Total equity		1,155,353			1,095,906
Total liabilities and equity	$	1,933,768		$	1,855,721

ACM RESEARCH, INC.
Condensed Consolidated Statements of Operations and Comprehensive Income

	Three Months Ended March 31,
	2025			2024
	(Unaudited)
	(In thousands, except share and per share data)
Revenue	$	172,347		$	152,191
Cost of revenue		89,797			73,070
Gross profit		82,550			79,121
Operating expenses:
Sales and marketing		16,343			14,173
Research and development		27,503			23,918
General and administrative		12,927			15,798
Total operating expenses		56,773			53,889
Income from operations		25,777			25,232
Interest income		3,339			1,774
Interest expense		(1,558	)		(783	)
Realized gain from sale of short-term investments		–			273
Unrealized loss on short-term investments		(1,082	)		(2,595	)
Other (expense) income, net		(262	)		3,080
Income (loss) from equity method investments		952			(520	)
Income before income taxes		27,166			26,461
Income tax expense		(2,153	)		(4,369	)
Net income		25,013			22,092
Less: Net income attributable to non-controlling interests		4,633			4,659
Net income attributable to ACM Research, Inc.	$	20,380		$	17,433
Comprehensive income (loss):
Net income		25,013			22,092
Foreign currency translation adjustment, net of tax of nil		1,750			(6,829	)
Comprehensive Income		26,763			15,263
Less: Comprehensive income attributable to non-controlling interests		4,957			3,406
Comprehensive income attributable to ACM Research, Inc.	$	21,806		$	11,857

Net income attributable to ACM Research, Inc. per common share:
Basic	$	0.32		$	0.28
Diluted	$	0.30		$	0.26

Weighted average common shares outstanding used in computing per share amounts:
Basic		63,267,834			61,367,184
Diluted		66,952,774			66,242,321

ACM RESEARCH, INC.
Total Revenue by Product Category and by Region

	Three Months Ended March 31,
	2025		2024
	(Unaudited)
	($ in thousands)
Single wafer cleaning, Tahoe and semi-critical cleaning equipment	$	129,569	$	109,470
ECP (front-end and packaging), furnace and other technologies		27,630		25,800
Advanced packaging (excluding ECP), services & spares		15,148		16,921
Total Revenue by Product Category	$	172,347	$	152,191

	Three Months Ended March 31,
	2025		2024
Mainland China	$	169,053	$	152,135
Other Regions		3,294		56
Total Revenue by Region	$	172,347	$	152,191

ACM RESEARCH, INC.

Reconciliation of GAAP to Non-GAAP Financial Measures

As described under “Use of Non-GAAP Financial Measures” above, ACM presents non-GAAP gross margin, operating expenses, operating income, net income attributable to ACM Research, Inc., and basic and diluted earnings per share as supplemental measures to GAAP financial measures, each of which excludes stock-based compensation (“SBC”) from the equivalent GAAP financial line items. In addition, non-GAAP net income attributable to ACM Research, Inc., and basic and diluted earnings per share exclude unrealized gain (loss) on short-term investments. The following tables reconcile gross margin, operating expenses, operating income, net income attributable to ACM Research, Inc., and basic and diluted earnings per share to the related non-GAAP financial measures:

	Three Months Ended March 31,
	2025												2024
	Actual			SBC			Other non-operating adjustments			Adjusted			Actual			SBC			Other non-operating adjustments			Adjusted
	(GAAP)									(Non-GAAP)			(GAAP)									(Non-GAAP)

	(In thousands)

Revenue	$	172,347								$	–		$	–								$	172,347		$	152,191	$	–	$	–	$	152,191
Cost of revenue		(89,797	)		(529	)		–			(89,268	)		(73,070	)		(781	)		–			(72,289	)
Gross profit		82,550			(529	)		–			83,079			79,121			(781	)		–			79,902
Gross margin		47.9%			0.3%			–			48.2%			52.0%			0.5%			–			52.5%
Operating expenses:
Sales and marketing		(16,343	)		(2,157	)		–			(14,186	)		(14,173	)		(3,027	)		–			(11,146	)
Research and development		(27,503	)		(2,775	)		–			(24,728	)		(23,918	)		(4,503	)		–			(19,415	)
General and administrative		(12,927	)		(4,356	)		–			(8,571	)		(15,798	)		(6,258	)		–			(9,540	)
Total operating expenses		(56,773	)		(9,288	)		–			(47,485	)		(53,889	)		(13,788	)		–			(40,101	)
Income (loss) from operations	$	25,777		$	(9,817	)	$	–		$	35,594		$	25,232		$	(14,569	)	$	–		$	39,801
Unrealized loss on short-term investments		(1,082	)		–			(1,082	)		–			(2,595	)		–			(2,595	)		–
Net income (loss) attributable to ACM Research, Inc.	$	20,380		$	(9,817	)	$	(1,082	)	$	31,279		$	17,433		$	(14,569	)	$	(2,595	)	$	34,597
Basic EPS	$	0.32								$	0.49		$	0.28								$	0.56
Diluted EPS	$	0.30								$	0.46		$	0.26								$	0.52

The MIL Network –

May 8, 2025

MIL-OSI: Himax Technologies, Inc. Declares Cash Dividend for FY2024

Source: GlobeNewswire (MIL-OSI)

TAINAN, Taiwan, May 08, 2025 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today declared a cash dividend of 37.0 cents per ADS, equivalent to 18.5 cents per ordinary share, for the year of 2024.

The cash dividend will be payable on July 11, 2025 to all the shareholders of record as of June 30, 2025. The ADS book will be closed for issuance and cancellation from June 23, 2025 to June 30, 2025. Typically, Himax pays out its yearly dividend at approximately the middle of its current calendar year based on the Company’s previous year financial performance.

“Since our IPO in 2006, we have consistently rewarded shareholders for their ongoing commitment with our dividend policy,” said Mr. Jordan Wu, President and Chief Executive Officer of Himax. “This year we are pleased to declare an annual cash dividend of 37.0 cents per ADS, representing a payout ratio of 81.1% of last year’s profit. Himax will continue to focus on maintaining a healthy balance sheet while driving sustainable long-term growth to deliver value for our shareholders through high dividends and share repurchases,” concluded Mr. Wu.

About Himax Technologies, Inc.

Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEye^TM Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,603 patents granted and 389 patents pending approval worldwide as of March 31, 2025.

http://www.himax.com.tw

Forward Looking Statements

Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2024 filed with the SEC, as may be amended.

Company Contacts:

Karen Tiao, Head of IR/PR
Himax Technologies, Inc.
Tel: +886-2-2370-3999
Fax: +886-2-2314-0877
Email: hx_ir@himax.com.tw
www.himax.com.tw

Mark Schwalenberg, Director
Investor Relations – US Representative
MZ North America
Tel: +1-312-261-6430
Email: HIMX@mzgroup.us
www.mzgroup.us

The MIL Network –

May 8, 2025
MIL-OSI Economics: Roong Mallikamas: From open finance to an inclusive digital society
Source: Bank for International Settlements

Introduction: ASEAN’s Fintech Potential

President of Money20/20 (Tracey Davies)
Distinguished guests

I’m honored to be here today at Money20/20 to discuss a topic that’s crucial to the future of finance in ASEAN: “From Open Finance to an Inclusive Digital Society.”

Our region, a vibrant mosaic of economies, presents an unparalleled opportunity for fintech innovation. With a combined population exceeding 650 million and a rapidly growing digital consumer base, the potential is immense.

ASEAN’s digital economy is projected to reach over $360 billion by 2025.¹ Yet, a significant portion of our population remains unbanked or underbanked. For instance, studies indicate that over 60% of adults in some ASEAN nations lack access to formal financial services.² This substantial underbanked segment represents a critical opportunity for fintech to provide relevant and accessible solutions.

The reasons for this underbanking are multifaceted, often stemming from limited data availability for credit assessment, a lack of transparency in financial product offerings, and poor interoperability between existing systems. These factors collectively contribute to a high cost of customer acquisition for traditional banks, hindering their ability to effectively serve these populations. Fintech, with its agility and data-driven approaches, is uniquely positioned to overcome these barriers, fostering greater financial inclusion and driving economic growth by empowering our communities with seamless access to tailored financial tools and services.

Thailand’s Context and the BOT’s 3 Opens

Ladies and Gentlemen.

Policy objectives for driving inclusive digital finance often involve balancing the trilemma of stability/safety, efficiency, and inclusion. And to clarify what we mean by inclusion, it goes beyond simply having a bank account. It’s about ensuring that everyone – individuals, small businesses, and marginalized communities – can access and utilize appropriate financial services like payments, savings, credit, and insurance in a convenient and affordable way. This is the vision we strive for in ASEAN, and each country prioritizes these elements of the trilemma with its own context and evolving needs.

Initially when developing PromptPay which is our national real-time payment system, Thailand focused on driving inclusion and maintaining stability,. Now, we emphasize competition and efficiency, recognizing that smaller, agile players – fintechs and new entrants – are often better positioned to innovate and address the diverse, unmet needs of specific customer segments due to their nimbler structures and specialized focus. This competition, while maintaining system safety, can lead to more tailored and accessible financial solutions that larger, established institutions may find challenging to deliver efficiently across all demographics. Thailand’s journey provides some lessons learned on how policy objectives have shifted and henceforth led us to pursue the ‘3 Opens’ as our strategic priorities-Open Competition, Open Infrastructure, and Open Data.

Open Infrastructure: Promotes interoperability and seamless connectivity, enabling efficient financial transactions.

Open Data: Facilitates data sharing and collaboration, driving the development of personalized financial solutions.

Open Competition: Encourages new players, fostering innovation and enhancing consumer choice.

Let’s delve deeper into each of these “3 Opens”.

Analyzing the 3 Opens: Rationale and Way Forward

[1 From PromptPay to Open Infrastructure]

In 2015, we aimed to promote inclusion through digital payments, leading to the development of PromptPay with the following regulatory constructs at that time with banks only: welfare and tax refunds, low fee, standardization, safety/stability.

Economically, a payment infrastructure is a natural monopoly, which is amplified by economies of scale, network effects, and data accumulation. Therefore, key infrastructure needs to be regulated, especially for fair access, pricing, etc. to ensure cost efficiency of the payment flows through the infrastructure. The initial restriction on non-banks participating in the infrastructure was a lesson learned. Although this strategy led to high adoption rates and a stable system, it inadvertently stifled innovation among existing players, who faced less competitive pressure to evolve their offerings. This is a key factor driving our current emphasis on opening up the infrastructure.

Currently, we aim to place more emphasis on efficiency, enabling Open Infrastructure by allowing non-banks to play a role in providing services that enhance access to digital finance for underserved groups. Therefore, the BOT will enhance the oversight of Systemically Important Retail Payment Systems (SIRPS), aligning with central bank practices abroad, such as the European Central Bank. Key regulatory criteria include membership and access rules, and fee structure. Thailand’s broad payment strategy is that”payment should be broader than payment”. BOT hence focuses on Open payment infrastructure and Open payment data for better access to finance.

[2 Leveraging data and technology with Open Data]

Having witnessed the transformative impact of PromptPay’s widespread adoption in retail fast payments, We are now strategically focusing on the next critical layer of digital infrastructure. Our priority is to put in place data sharing infrastructure, recognizing its pivotal role in driving further innovation and efficiency within the financial ecosystem.

Open Data is not just about technology. it’s a catalyst for financial inclusion. Currently, customer data is scattered across various service providers and agencies. If there is a mechanism allowing customers to easily request their service providers and agencies to share their data to other service providers and agencies, it will enable customers to better utilize their data to receive improved financial services.

BOT pursues Project ‘Your Data’ to empower customers to have their own financial information and non-financial data portable to another service provider based on customer consent. Our priority use cases are access to credit and personal financial management as they still pose significant gaps in our financial system. Therefore, the data that serve such use cases include payment history, account balance, investment holdings, and government data such as tax filing information and utilities usage. By enabling secure and seamless data sharing, we’re empowering individuals and SMEs, particularly those traditionally underserved, to access tailored financial services and participate fully in the digital economy.

[3 Open Infrastructure and Open Data as foundation for Open Competition]

With the imminent launch of Project Your Data, we are establishing a robust supply of data within the financial ecosystem. Simultaneously, the Bank of Thailand is actively fostering demand by enabling financial service providers to innovate and compete on offering enhanced loan products and personal financial management solutions. The introduction of the new virtual banking license will empower digital-native players with tech-focused solutions to fully capitalize on this data sharing infrastructure. Furthermore, the soon-to-be-established National Credit Guarantee Agency will integrate this very data sharing mechanism to enhance its operations and support broader access to credit, especially for underserved SMEs.

With robust infrastructure and data sharing as the bedrock, all players – banks, fintechs, and virtual banks – can operate at their full capacity in an Open Competition, driving innovation and enhancing financial services for underserved communities. Fintechs, leveraging technology with greater agility and often a higher risk appetite than traditional institutions, can better cater to specific customer needs within these segments. For example, they can utilize alternative data for credit scoring individuals with limited traditional credit history, create tailored digital platforms for efficient invoice financing and supply chain management solutions, or offer integrated accounting and payment systems that streamline operations and improve cash flow for small businesses.

As we encourage new players to drive competition and expand financial inclusion, including these fintechs with their enhanced technological capabilities and willingness to navigate higher risk for underserved segments, we acknowledge the inherent risks associated with novel technologies. Beyond foundational technologies like digital assets and tokenization, fintechs are pioneering areas such as blockchain-based trade finance platforms that can reduce costs and increase transparency for SME cross-border transactions, and data analytics tools that provide SMEs with valuable insights for better financial planning and access to tailored financial products. Our regulatory approach must therefore truly consider both the transformative potential and the evolving risks these innovations present, ensuring a balance between fostering access and maintaining stability.

[4 Regulatory approach to embrace the new technology by collaboration]

Building on this foundation of open infrastructure and data, which empowers a diverse ecosystem of players, including agile fintechs uniquely positioned to serve underserved segments, our journey is one of continuous learning and adaptation. We recognize that the financial technology landscape is rapidly evolving, and no single entity holds all the answers. Therefore, our approach moving forward is deeply rooted in collaboration. We are committed to working hand-in-hand with the industry, including our fintech community, to refine our policies and navigate the complexities of this dynamic environment. Furthermore, we actively seek to learn from the experiences and best practices of both regulators and innovative fintech companies across the ASEAN region and beyond, fostering a collective understanding that will shape a resilient and inclusive financial future for all.

[Collaborative Learning and Adaptive Guardrails]

Drawing upon our internal explorations with cutting-edge technologies like CBDC, we are now extending this spirit of learning and adaptation to the wider financial industry. Recognizing that innovation, especially from new players, can yield unpredictable outcomes, our approach centers on establishing clear ‘guardrails’ – collaboratively defining the boundaries to prevent systemic risks while allowing for experimentation. This ensures a resilient financial system that can safely accommodate novel solutions.

[Enticing Innovation through an Evolving Regulatory Sandbox]

A key element of our collaborative strategy is our Enhanced Regulatory Sandbox. This controlled environment is specifically designed to attract fintechs and innovators to Thailand, offering a safe space to test ideas where risks are still being understood. Our initial focus includes Programmable Payments, demonstrated by the ‘Tourist Wallet’ application enabling USD stablecoin conversion to THB stablecoin for limited tourist spending, and ‘Programmable Escrow Payments’ designed to enhance trust and transparency in online commerce by automating fund release upon condition fulfillment. These real-world examples showcase the tangible opportunities within our sandbox.

[A Streamlined Sandbox for Agile Collaboration]

We understand that a cumbersome sandbox can stifle innovation. Therefore, we are actively transforming our Enhanced Regulatory Sandbox to be more agile and accessible, with expanded scope, reduced compliance burdens, and significantly faster processing times – aiming for a 6-to-12-month timeframe for projects like Programmable Payments. By opening our sandbox to both regulated and unregulated entities, we aim to foster a vibrant collaborative space where knowledge sharing and rapid iteration can occur. The valuable lessons learned within this sandbox will directly inform our evolving regulations, ensuring they remain relevant and supportive of a dynamic digital finance ecosystem in Thailand.

Conclusion: Building a Future-Ready and Inclusive ASEAN Fintech Ecosystem

In closing, the journey we’ve outlined today underscores the Bank of Thailand’s unwavering commitment to fostering a dynamic and inclusive digital financial landscape within ASEAN. We firmly believe that by strategically embracing the ‘3 Opens’ – Open Competition, Open Infrastructure, and Open Data – we can unlock the immense potential of digital finance to address the unique needs of our diverse populations, particularly the underserved.

Our experience, from the foundational success of PromptPay to the ongoing development of Project Your Data and our cautious exploration of new technologies within our enhanced Regulatory Sandbox, represents our attempt to learn and adapt. We understand that real progress requires not only innovation but also a continuous focus on resiliency, security, and responsible growth.

The path ahead necessitates continued collaboration – between regulators, financial institutions, fintech pioneers, and the very communities we aim to serve. By working together, sharing insights, and learning from each other’s experiences, we can collectively build a future-ready ASEAN fintech ecosystem that is not only innovative and efficient but also truly inclusive, empowering individuals and businesses across our vibrant region to thrive in the digital age.

Thank you.
MIL OSI Economics –
May 8, 2025
MIL-Evening Report: Fiji media’s Stan Simpson blasts ‘hypocrites’ in social media clash over press freedom
Pacific Media Watch

Barely hours after being guest speaker at the University of the South Pacific‘s annual World Press Freedom Day event this week, Fiji media industry stalwart Stanley Simpson was forced to fend off local trolls whom he described as “hypocrites”.

“Attacked by both the Fiji Labour Party and ex-FijiFirst MPs in just one day,” chuckled Simpson in a quirky response on social media.

“Plus, it seems, by their very few supporters using myriads of fake accounts.

“Hypocrites!”

Simpson, secretary of the Fiji Media Association (FMA), media innovator, a founder and driving force of Mai TV, and a gold medallist back in his university student journalist days, was not taking any nonsense from his cyberspace critics, including Rajendra, the son of Labour Party leader and former prime minister Mahendra Chaudhry.

The critics were challenging recent comments about media freedom in his speech at USP on Monday and on social media when he took a swipe at “pop-up propagandists”.

“I stand by my statements. And I love the attention now put on media freedom by those who went missing or turned a blind eye when it was under threat [under Voreqe Bainimarama’s regime post-2006 coup]. Time for them to own up and come clean.”

Briefly, this is the salvo that Simpson fired back after Rajendra Chaudhry’s comment “This Stanley Simpson fella . . . Did he organise any marches [against the Bainimarama takeover], did he organise any international attention, did he rally the people against the Bainimarama regime?” and other snipes from the trolls.

1. FLP [Fiji Labour Party]
At a period 2006-2007 when journalists were being bashed and beaten and media suppressed — the Fiji Labour Party and Chaudhry went silent as they lay in bed with the military regime.

Rajendra Chaudhry’s criticism. Image: APR screenshot

“They try to gloss over it by saying the 1997 constitution was still intact. It was intact but useless because you ignored the gross human rights abuses against the media and political opponents.

“Where was FLP when Imraz, Laisa, Pita and Virisila were beaten? Where were they when Netani Rika, Kenneth Zinck, Momo, Makeli Radua were attacked and abused, when our Fiji Living Office was trashed and burnt down, and Pita and Dionisia put in jail cells like common criminals?

“It was when Chaudhry took on Fiji Water and it backfired and left the regime that they started to speak out. When Aiyaz [Sayed-Khaiyum, former Attorney-General] replaced him as No. 2. By then too late.

“Yes FLP — some of us who survived that period are still around and we still remember so you can’t rewrite what happened in 2006-2007 and change the narrative. You failed!”

“2. Alvick Maharaj [opposition MP for the FijiFirst Party]
“The funny thing about this statement is that I already knew last night this statement was coming out and who was writing it etc. I even shared with fellow editors and colleagues that the attacks were coming — and how useless and a waste of time it would be as it was being done by people who were silent and made hundreds of thousands of dollars while media were being suppressed [under the draconian Fiji Media Industry Development Act 2010 (MIDA) and other news crackdowns].

Troll-style swipes. Image: APR screenshot

“Ex-Fiji First MPs protecting their former PR colleagues for their platform which has been used to attack their political opponents. We can see through it all because we were not born yesterday and have experience in this industry. We can see what you are doing from a mile away. Its a joke.

“And your attacks on the [recent State Department] editors’ US trip is pathetic. Plus [about] the visit to Fiji Water.

“However, the positive I take from this — is that you now both say you believe in media freedom.

“Ok now practice it. Not only when it suits your agenda and because you are now in Opposition.

“You failed in the past when you governed — but we in the media will continue to endeavor to treat you fairly.

“Sometimes that also means calling you out.”

USP guest speech
As guest speaker at USP, Simpson had this to say among making other points during his media freedom speech:

The USP World Press Freedom Day seminar on Monday. Image: USP/APR

“Journalists today work under the mega spotlight of social media and get attacked, ridiculed and pressured daily — but need to stay true to their journalism principles despite the challenges and pressures they are under.

“Today, we stand at a crossroads. To students here at USP — future journalists, leaders, and citizens — remember the previous chapter [under FijiFirst]. Understand the price paid for media freedom. Protect it fiercely. Speak out when it’s threatened, even if it’s unpopular or uncomfortable.

“To our nation’s leaders and influencers: defend a free media, even when it challenges you. A healthy democracy requires tolerance of criticism and commitment to transparency.”

Fiji rose four places to 40th (out of 180 nations) in the RSF 2025 World Press Freedom Index to make the country the Oceania media freedom leader outside of Australia (29) and New Zealand (16).
MIL OSI Analysis – EveningReport.nz –
May 8, 2025
MIL-OSI China: Chinese and Cambodian Militaries to Hold “Golden Dragon 2025” Joint Exercise: Defense Spokesperson 2025-05-08 “In mid-to-late May, the Chinese and Cambodian militaries will hold the ‘Golden Dragon 2025’ joint exercise in Cambodia,” said Senior Colonel Zhang Xiaogang.
Source: People’s Republic of China – Ministry of National Defense
BEIJING, May 8 — “In mid-to-late May, the Chinese and Cambodian militaries will hold the ‘Golden Dragon 2025’ joint exercise in Cambodia,” said Senior Colonel Zhang Xiaogang, spokesperson for China’s Ministry of National Defense (MND), at a press briefing on Thursday.

Focusing on joint counter-terrorism and humanitarian assistance and disaster relief (HADR) operations, the exercise will be conducted both on land and at sea, as well as in relevant air spaces. Cultural and sports exchanges, and open ship day activities will also be conducted, added the spokesperson.

It is reported that this exercise will be the 7th of its kind between the Chinese and Cambodian militaries. “It will facilitate practical cooperation between the two sides and contribute to the building of a China-Cambodia all-weather community with a shared future for the new era,” said the spokesperson.
loading…

MIL OSI China News –
May 8, 2025
MIL-OSI United Nations: UN road safety exhibition at the Palais des Nations to raise awareness about risk factors on the road and existing solutions

Source: United Nations Economic Commission for Europe

On the eve of the 8^th UN Road safety Week, the United Nations Secretary-General’s Special Envoy for Road Safety, Jean Todt, with support of the Permanent Representation of Malaysia to the UN and International Organizations in Geneva, will launch the UN road safety exhibition. Taking place at the Palais des Nations, Geneva, on Friday, 9 May, the exhibition aims to raise awareness about the risk factors on the road and existing solutions that can improve road safety and save millions of lives worldwide.

In line with the main theme of the 8th UN Road Safety Week – making cycling and walking safe – the exhibition will feature the “Helmets for Hope” project, which consists of 17 helmets compliant with UN safety standards, and painted by refugees and artists from all over the world. This project is an initiative of the Secretariat of the Special Envoy, in collaboration with Artolution and with the support of Keep Fighting Foundation.

Motorcycle users are particularly vulnerable on the road. Wearing a helmet that complies with UN safety standards is a game changer. It can reduce the risk of death by over 6 times and reduce the risk of brain injury by up to 74% (WHO 2021). It is therefore urgent to promote the widespread use of UN certified helmets.

The exhibition will also feature 17 visuals of the UN-JCDecaux campaign #MakeASafety Statement, with the support of the International Olympic Committee. In addition, there will be vehicle safety demonstrations on the prevention and management of car crashes, including extinguishing battery fire, and a simulation test of driving tired and under influence.

The exhibition will be followed by a conversation on safe and sustainable mobility in the city, hosted by the Permanent Representation of Belgium to the United Nations and International Organizations in Geneva.

The silent pandemic on the road

The Special Envoy for Road Safety, Jean Todt, qualified road crashes as “The Silent Pandemic on the Road”. Every year, the staggering toll of road-related fatalities globally claims the lives of 1.19 million people, leaving 50 million others with severe injuries. Furthermore, road crashes are the leading cause of death for children and young adults aged 5–29 years (WHO 2021). Two months after the Declaration of Marrakesh where Member States further engaged to accelerate the efforts to achieve the new Decade of Action for Road Safety, it is urgent to act together to achieve the goal of halving the number of the victims on the road by 2030.

“Road crashes are not a fatality. This is why this exhibition on road safety at the Palais des Nations is important for raising awareness about the risk factors on the road. It also demonstrates the importance of building a global partnership for achieving road safety SDG targets,” the Special Envoy noted.

Make a Safety Statement

The UN Global Campaign for Road Safety – #MakeASafetyStatement, in partnership with JCDecaux, is part of UN efforts to raise public awareness of life-saving initiatives on the road. By the end of 2025, the campaign will appear on billboards and in public places in 80 countries, thanks to a global partnership with JCDecaux. It will be broadcast in about 1,000 towns and cities in 30 languages.

Under the slogan #MakeASafetyStatement, the campaign brings together celebrities worldwide, such as Patrick Dempsey, Michelle Yeoh, Charles Leclerc, Didier Drogba, Teddy Riner, Kylie Minogue, Mick Schumacher or Naomi Campbell, to encourage users to adopt simple but effective rules to keep their roads safe. Olympic athletes also joined the campaign, thanks to the support of the International Olympic Committee (IOC).

With making walking and cycling safe in the focus of the 8^th UN road safety week, the Office of the Special Envoy has strengthened its collaboration with the International Union of Cyclists (UCI), thanks to the participation of Tadej Pogačar who is one of the champions of the MakeASafetyStatement campaign.

Towards zero victims on the road in Switzerland

According to the Swiss Federal Roads Office, road crashes caused 250 deaths in Switzerland in 2024, the highest figure since 2015. There were 47 deaths among motorcyclists with an increase among young people, 25 on electric bicycles, 20 among “conventional” cyclists, and 48 among pedestrians, the majority of whom were outside of pedestrian crossings.

Of the total, alcohol was the suspected primary cause in 34 cases (+31% year-on-year), ahead of speeding, with 33 cases, and then inattention or distraction. Among deaths in passenger car accidents, the sharpest increase was observed among those aged 25 to 34 and those aged 75 and over.

However, the number of people seriously injured decreased. Switzerland is one of the countries that has invested in road safety with zero tolerance, and has achieved a road fatality rate of 2 per 100,000 inhabitants (compared to 6.5/100,000 in Europe and 19.5/100,00 in Africa (WHO 2021). The country can therefore show good practices that could be implemented in other countries.

Risk factors that are often neglected

Only 7 countries in the world have laws that comply with WHO best practices for all the risk factors (France, Greece, Hungary, Italy, Luxembourg, Portugal, Sweden) on speeding, driving under the influence or distracted driving, use of UN-standard motorbike helmets, and use of seatbelts and child restraints as regulated by UNECE.

For example, safety-belts remain the best vehicle safety device to protect passengers from being severely injured in a crash or being ejected from the vehicle. Over the past several decades regulation and consumer demand have led to increasingly safe cars in higher income countries, in turn leading to fewer road fatalities. For example, in the UNECE region, total road fatalities decreased by 25% in between 2000 and 2010, and by 15% in the period 2010-2019. In particular, this drop was more significant among car occupants (UNECE 2024).

Malaysia supports the UN Decade of Action for Road Safety

One study by the Malaysian Institute of Road Safety Research (MIROS) revealed that many young riders in Malaysia begin as early as the age of 12, often without licenses or proper training. These insights have helped Malaysia shape more targeted interventions, because when we understand the behaviour, we are better positioned to implement solutions that are both smart and achievable.

In support of this, Malaysia continues to prioritise helmet use among young motorcyclists. In addition to education and awareness campaigns in schools and rural areas, Malaysia introduced a Helmet Exchange Programme that allows riders to swap old or non-compliant helmets for new, safety-certified ones. This effort is vital as motorcyclists account for over 60% of road traffic fatalities in Malaysia, with the highest risk group being those aged 16 to 20. By improving access, building awareness, and fostering behavioural change, we aim to instill a culture of safety from early age.

Malaysia firmly embraces the vision of the UN Decade of Action, to reduce road traffic fatalities by 50% by 2030. To this end, Malaysia continues to work closely with key road safety stakeholders, including the WHO.

Learn more about the programme of the exhibition here.

MIL OSI United Nations News –

May 8, 2025
MIL-OSI China: 27th China Beijing International High-Tech Expo kicks off

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

The 27th China Beijing International High-Tech Expo opened Thursday at the National Convention Center and will run through May 11.

This year’s event features over 600 new products across six themed exhibition zones of information technology, smart manufacturing, healthcare, green development, the digital economy, and regional innovation.

More than 800 enterprises and organizations from home and abroad are participating, with the total exhibition area reaching about 50,000 square meters – more than doubled that of last year.

International exhibitors from countries including Russia, France, Japan, the U.S., and ASEAN nations occupy over 3,000 square meters, according to a Beijing municipal official responsible for promoting international trade.

Headline exhibits include China’s first 1,000-qubit coherent optical quantum computer, capable of accelerating tasks like drug discovery; AI-powered orthopedic surgical robots already in clinical use at over 100 hospitals; wall-climbing robots for infrastructure inspections; and a new generation of humanoid robots.

The expo also showcases key breakthroughs driving emerging industries. Highlights include a domestically developed fuel cell air compressor that lowers hydrogen fuel costs, a turboshaft engine built for unmanned helicopters and eVTOL aircraft, and the first bioengineered heart valve product developed specifically for infants.

In parallel with the exhibition, a series of trade and investment promotion events are being held, covering themes such as international investment, Beijing-Tianjin-Hebei trade cooperation, and international business law.

MIL OSI China News –

May 8, 2025
MIL-OSI China: ZGC Innovation Center a global hub for tech cooperation

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

Beijing’s Zhongguancun International Innovation Center was officially launched last year and has since become a key global hub for tech innovation and exchange, hosting international conferences, technology forums, and industry events.

In late March, the Zhongguancun Forum took place at the center, drawing over 23,000 participants. The event was characterized by efficient organization, providing participants with well-coordinated experiences.

The center has also served as the venue for other notable events, including the 2024 Cross-Strait Youth Summit, the Third Belt and Road High-Level Conference on Intellectual Property, and the 27th Beijing-Hong Kong Economic Cooperation Symposium. These gatherings highlight the center’s role in facilitating exchange and progress in economic and tech sectors.

During a recent high-level meeting held in the center, Beijing announced plans to boost technological innovation and industry development. The goals include establishing 10 industry parks, commercializing at least 600 technological achievements, and increasing the value of core AI industry to over 500 billion yuan (US$69 billion) within the year.

Throughout the past year, technology companies have unveiled breakthroughs at the center, with events like Huawei’s Kunpeng Ascend Developer Conference, HarmonyOS Connect Partner Summit, and the Baidu Cloud Intelligence Conference showcasing developments in their respective domains.

As a global platform, Zhongguancun International Innovation Center will continue to provide a space for introducing new technologies, encouraging international cooperation, and promoting discussions on innovation and technological development.

MIL OSI China News –

May 8, 2025
MIL-OSI China: ‘First stores’ in Beijing sub-center to receive financial support

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

The Beijing Tongzhou District Municipal Commerce Bureau recently released a guideline to support the first-store economy in the capital’s sub-center.

The “first-store economy” refers to an economic model in which a region leverages its unique resource advantages to attract domestic and international brands to open their first stores in the area. This creates an optimal synergy between brand value and regional resources, thereby generating a positive impact on the region’s economic development.

According to the guideline, brands that open their first stores in the Beijing sub-center and receive municipal-level first-store policy support may be eligible for up to 1.5 million yuan (US$210,000) in funding from Tongzhou district.

Domestic and international brands that open flagship stores or first stores in Asia, Chinese mainland, or Beijing can receive a one-time support fund of 500,000 yuan from Tongzhou district, as long as they are recognized by the Beijing Municipal Commerce Bureau and showcasing stable performance and strong growth potential.

Commercial operation and management enterprises can also receive a one-time support fund of 100,000 yuan for each new brand first store they introduce that is recognized by the Beijing Municipal Commerce Bureau, with total support capped at 500,000 yuan per enterprise.

Beijing’s sub-center also supports the upgrading and renovation of traditional shopping malls and commercial districts. Business entities that operate such shopping areas can received up to 1 million yuan in funding from the local government.

As of now, the Beijing sub-center is home to 11 large-scale commercial facilities, with 14 more projects under construction.

MIL OSI China News –

May 8, 2025
MIL-OSI Asia-Pac: President Lai attends reception commemorating 80th anniversary of Victory in Europe Day

Source: Republic of China Taiwan

President Lai attends reception commemorating 80th anniversary of Victory in Europe Day
On the morning of May 8, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, attended a reception commemorating the 80th anniversary of Victory in Europe Day (VE Day). In remarks, President Lai stated that our commemoration of the Victory in Europe underscores three crucial points: The pursuit of true peace is dependent on determination and efforts to protect freedom and democracy, and must be achieved through strength and unity; only freedom and democracy can truly bring about national development, and only with respect for human dignity can a nation itself earn respect; and remembering the lessons learned from the history of the war, those who cherish peace must remain vigilant toward acts of aggression.
The president emphasized that as Taiwan and Europe are now facing the threat of a new authoritarian bloc, lovers of freedom around the world, both individuals and nations, must work together to make sure that aggressors have no opportunity to advance on their ambitions. He said he is confident that so long as we combine our efforts, our strength can earn us true and lasting peace; so long as we join together in solidarity, our freedom can illuminate the vast, boundless world; so long as we stand firm in our convictions, we absolutely can protect our way of life, the homelands that support us, and every lover of freedom and democracy.
A translation of President Lai’s remarks follows:
We are solemnly gathered here today, along with representatives from nations around the world, to mark VE Day – the anniversary of the end of World War II in Europe. This is the first time that Taiwan is commemorating the war in Europe, signifying our growing connections with the international community.
Peace is priceless, and war has no winners. WWII was undoubtedly the deadliest war in human history, and the pain that it caused has echoed even to the present day.
On this day 80 years ago, Nazi representatives surrendered to the Allies, symbolizing the end of WWII in Europe. The Allies then shifted their focus to the Pacific theater, where the war ended three months later.
Victory in Europe was the beginning of the end of this long road, and it was a point at which humanity could start to envision a world beyond the war.
Victory in Europe counted on different countries all combining their efforts. And today, this event has brought together representatives from a total of 17 countries in addition to the European Union, a testament to the value of cooperation.
Our commemoration of VE Day underscores three crucial points:
First, the foundation for victory in WWII was built from determination and actions throughout human society to unite and resist aggression, defend hearth and home, and pursue true peace.
History has taught us that no matter the driving reason or ideology, military aggression against another country is an unjust crime that is bound to fail. Those who unite as partners to defend their homelands, freedom, and democracy ultimately emerge victorious.
In less than one month from now, we will also be marking the 81st anniversary of the Normandy landings, when airborne divisions descended and beachheads were established by Allied troops fighting courageously across different landing sites.
Through the cooperation and efforts of the Allies, as well as the sacrifices of freedom fighters in occupied territories, Europe was liberated from authoritarian enslavement. From this, we learned that the pursuit of true peace is dependent on determination and efforts to protect freedom and democracy, and must be achieved through strength and unity.
Second, the countries that were formerly Axis powers are now all 100 percent democratic, enjoying true peace and prosperity and respected the world over.
This proves that only freedom and democracy can truly bring about national development, and only with respect for human dignity can a nation itself earn respect. Authoritarianism and aggression lead only to slaughter, tragedy, and greater inequality.
When we look back at post-war history, we see that civilizations with democratic elections, free markets, and respect for human rights are those that humanity should pursue. We also see the value of freedom and democracy, and the reason why tens of millions of Allied soldiers crossed oceans or set foot on unfamiliar lands to fight gruesome battles.
Now, I would like to share the words of former United States President Dwight D. Eisenhower, the Supreme Commander of the Allied Expeditionary Force in Europe during the war. In his order of the day for D-Day, he wrote: “Soldiers, Sailors and Airmen of the Allied Expeditionary Force! You are about to embark upon the Great Crusade, toward which we have striven these many months. The eyes of the world are upon you. The hope and prayers of liberty-loving people everywhere march with you.” These words tell us why we must commemorate the war in Europe; they also remind us again that freedom and democracy, being so precious, can only be resolutely defended through strength and constant vigilance.
Third, those who cherish peace cannot sit idly by and allow aggression. The outbreak of the war in Europe certainly had much to do with an authoritarian regime seeking to satisfy its expansionary ambitions, but its wider spread throughout Europe had much more to do with a lack of vigilance toward acts of aggression.
At many points in history, people have thought to give the aggressor a small concession to earn peace. But as we all know from the painful lessons of WWII, indulging aggressors with a taste of expansion only whets their appetite; it makes them more confident and hungrier for more. They will continue their conquest until democratic countries have fallen and the light of freedom has been extinguished; until the last person unwilling to bend is eliminated. Only then will the aggressors stop.
WWII broke out because ambitions for conquest were ignored; it was won by bringing together in solidarity every last bit of will to resist and defend hearth and home.
The war in Europe ended 80 years ago. The meaning of that history is now as clear as day. After those 80 years, Taiwan now shares the same values as many of the democratic countries that fought in the war, and we face similar challenges.
Taiwan and Europe are now facing the threat of a new authoritarian bloc. We are seeing our decades-old undersea cables, crucial for communications and cybersecurity, being sabotaged. We are seeing external interference in our elections, crucial for healthy democratic development, through the spread of misinformation and disinformation, sowing intentional division in society. We are seeing our fair, free, and open international rules-based markets being tested by all manner of gray-zone activities, intrusions, dumping, and pressures.
Whenever we commemorate the peace at the end of the war in Europe, we must not forget the lessons learned from its history.
Lovers of freedom around the world, both individuals and nations, must work together now in tight solidarity, before risks turn into crises and before crises are taken advantage of by those with ambitions for outward expansion, to make sure that aggressors have no opportunity to advance on their ambitions. Only then can we continue on for generations with our current way of life; only then can we retain our human dignity and values.
This is our opportunity; there is no better time than now. I am confident that so long as we combine our efforts, our strength can earn us true and lasting peace. I am confident that so long as we join together in solidarity, our freedom can illuminate the vast, boundless world. And I am confident that so long as we stand firm in our convictions, we absolutely can protect our way of life, the homelands that support us, and every lover of freedom and democracy.
And so, let us keep striving together, From VE Day to Every Day. Thank you.
Also in attendance at the event were Head of the European Economic and Trade Office Lutz Güllner, British Office Taipei Representative Ruth Bradley-Jones, and other diplomatic representatives in Taiwan.

MIL OSI Asia Pacific News –

May 8, 2025
MIL-OSI USA: Schatz: Reported ICE Raid On Filipino Teachers On Maui Outrageous, Abuse Of Power

US Senate News:

Source: United States Senator for Hawaii Brian Schatz
Published: 05.07.2025
Schatz’s Office Is Reaching Out To Assist Impacted Teachers

WASHINGTON – U.S. Senator Brian Schatz (D-Hawai‘i) released the following statement on reports that Filipino teachers on Maui were interrogated and held in their home by U.S. Immigration and Customs Enforcement.
“The reported interrogation and efforts to detain Filipino teachers in their home on Maui by ICE agents is outrageous. This is racial profiling and a shameful abuse of power. We are a nation of laws, but the broad ICE raids this week are clearly designed just to instill fear,” said Senator Schatz. “Our teachers, our visitors, and our neighbors, deserve dignity and safety, not fear of seemingly arbitrary harassment,”
Schatz’s office is in contact with the Hawai‘i Department of Education and reaching out to offer assistance to teachers impacted by the raid. Resources for immigrants and their families are available at schatz.senate.gov/help.

MIL OSI USA News –

May 8, 2025

MIL-OSI United Kingdom: Change of His Majesty’s Ambassador to Ireland

Source: United Kingdom – Government Statements

Press release

Change of His Majesty’s Ambassador to Ireland

Ms Kara Owen has been appointed His Majesty’s Ambassador to Ireland.

Ms Kara Owen CMG CVO has been appointed His Majesty’s Ambassador to Ireland in succession to Mr Paul Johnston. Ms Owen will take up her appointment during September 2025.

Curriculum vitae

Full name: Kara Justine Owen

Year	Role
July 2024 to present	Projects/ pre-posting preparation with FCDO
2019 to 2024	Singapore, British High Commissioner
2016 to 2019	FCO, Director, Americas
2012 to 2016	Paris, Deputy Head of Mission
2011 to 2012	FCO, Head of Strategy and Network Department, Consular
2009 to 2011	FCO, Director for Diversity and Equality
2005 to 2009	Hanoi, Deputy Head of Mission
2003 to 2005	FCO, Private Secretary to the Foreign Secretary
2001 to 2003	FCO, Assistant Private Secretary to Junior Ministers
2000 to 2001	FCO, EU Policy Officer
1996 to 2000	Hong Kong, Vice Consul and later Vice Consul political
1995 to 1996	FCO, Cantonese language training
1993 to 1995	FCO, Joint Assistance Unit (Know How Fund)
1993	Joined FCO

Media enquiries

Email newsdesk@fcdo.gov.uk

Telephone 020 7008 3100

Contact the FCDO Communication Team via email (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

Published 8 May 2025

MIL OSI United Kingdom –

May 8, 2025

MIL-OSI New Zealand: Name release, fatal crash, Horotiu Road

Source: New Zealand Police

Police can now release the name of the man who died in a crash on Horotiu Road, Te Kowhai on 29 April.

He was 65-year-old David James Kingi, of Waipawa.

Our thoughts are with those close to him at this time.

Enquiries into the circumstances of the crash are ongoing.

ENDS

Issued by Police Media Centre

MIL OSI New Zealand News –

May 8, 2025
MIL-OSI Australia: Arts festival to astound in the City of Wanneroo
Source: South Australia Police

Experience an extravaganza of artistic talent as the Beach to Bush Arts Festival arrives in the City of Wanneroo this May.

Featuring art of all kinds, the festival runs from 9 to 31 May, featuring painting workshops, dance classes, theatre productions and much more.

Wanneroo Deputy Mayor James Rowe said the 2025 festival offerings were bigger and better than ever before.

“Back for its third year, the popular Beach to Bush Arts Festival is a celebration of our City’s diverse array of artistic talent,” he said.

“We’ve got an incredible schedule of events, performances and workshops planned for this year’s festival, and I encourage everyone to stop by and check it out.”

The festival will conclude with a spectacular finale concert, featuring performances by talented local singers, dancers, bands and the Joondalup Symphony Orchestra.

The full schedule is available on the Beach to Bush event page.

Festival finale event details:

5pm to 9pm, Saturday 31 May 2023

Peter Moyes Anglican Community School, Mindarie

Tickets cost $11 per person, available via Eventbrite

MIL OSI News –
May 8, 2025
MIL-OSI China: PLA expels Philippine corvette attempting to intrude into territorial waters of China’s Huangyan Dao 2025-05-08 15:10:54 On May 5, the Chinese PLA Southern Theater Command organized its naval and air forces to expel the Philippine Corvette 35 attempting to intrude into the territorial waters of China’s Huangyan Dao, said a PLA spokesperson on Thursday.
Source: People’s Republic of China – Ministry of National Defense

BEIJING, May 8 — On May 5, the Chinese PLA Southern Theater Command organized its naval and air forces to expel the Philippine Corvette 35 attempting to intrude into the territorial waters of China’s Huangyan Dao, said Air Force Senior Colonel Tian Junli, spokesperson for the PLA Southern Theater Command, in a written statement released on Thursday.

The spokesperson noted that troops of the PLA Southern Theater Command tracked, monitored and warned off the Philippine corvette in accordance with laws and regulations, preventing it from entering China’s territorial waters. The on-site operations were professional, standardized, justified and legitimate. Relevant remarks made by the Philippine side ignored the facts, confused the public, attempting to mislead the perception of the international community.

“Huangyan Dao is China’s inherent territory. We solemnly warn the Philippines to immediately cease its infringements, provocations, and distortion of the truth. The troops of the PLA Southern Theater Command will always remain on high alert to defend China’s national sovereignty, security and maritime rights and interests, and resolutely safeguard peace and stability in the South China Sea,” stressed the spokesperson.

loading…

MIL OSI China News –
May 8, 2025

MIL-OSI: Best Online Casinos Ireland – JACKBIT Ranked #1 Irish Casino Site of 2025

Source: GlobeNewswire (MIL-OSI)

DUBLIN, May 08, 2025 (GLOBE NEWSWIRE) — JACKBIT, a globally acclaimed platform with a strong presence across Europe, Australia, New Zealand, and beyond, has been named the “Best Online Casino in Ireland 2025” following a rigorous review of the Irish online gambling industry. Conducted by experienced iGaming specialists, this evaluation highlights why JACKBIT stands out as the premier choice among the best online casinos in Ireland, delivering an exceptional gaming experience tailored to Irish players.

New players can dive into the excitement with JACKBIT’s generous welcome bonus by signing up today:

✅ PLAY AT JACKBIT – UNLOCK MASSIVE CRYPTO BONUSES & START WINNING TODAY!

JACKBIT sets the benchmark for a new online casino with its compelling welcome offer: 30% Rakeback + 100 First Deposit Free Spins with no KYC requirements. This player-centric approach, combined with a vast game library and innovative features, solidifies JACKBIT’s position as the top pick in the best online casinos Ireland for 2025.

Featuring over 7,000 real money games from 85 top-tier providers, JACKBIT caters to every gaming preference, offering the best online pokies, table games, live dealer experiences, and a comprehensive sportsbook with 140+ sports types. From spinning slots to betting on Gaelic football, JACKBIT ensures a thrilling and rewarding experience that resonates with Irish players.

“Our mission is to guide Irish players to the Best Online Casinos in Ireland that deliver excitement, security, and value,” said the review team. “JACKBIT excels in every critical area, making it the ultimate destination for online gaming in Ireland.”

A Player-Centric Review of the Best Online Casinos in Ireland

The review team conducted a thorough analysis, prioritizing the needs of Irish players. The evaluation criteria included:

License: Ensuring compliance with global gambling regulations.
Fairness: Independent audits for game integrity.
Quality of Games: Diverse and high-quality gaming options.
Bonuses and Promotions: Generous and transparent rewards.
Payment Methods: Secure, flexible, and fast transactions.
Online Security: Robust protection for player data.
Mobile Experience: Seamless gaming across devices.
Sportsbook Quality: Comprehensive and competitive betting options.
KYC: Minimal or no identity verification requirements.
Deposit and Withdrawal Limits: Flexible and player-friendly.
Customer Support: Responsive, multilingual assistance.

These criteria formed the foundation for assessing the best online casinos in Ireland, with JACKBIT emerging as the top performer. Its status as an anonymous online casino and its commitment to player satisfaction make it the leading platform for Irish players.

Why JACKBIT Is the Best Online Casino in Ireland 2025

JACKBIT’s outstanding performance across all review categories makes it the unrivaled leader in the best online casinos in Ireland. Below is a detailed exploration of its standout features:

JACKBIT operates under a Curacao Gaming License, a globally recognized credential that ensures legal and regulated operations. This license provides Irish players with confidence in the platform’s legitimacy, positioning JACKBIT as a trusted name in the best online casinos Ireland.

All games on JACKBIT are audited by independent third-party firms to ensure fairness and transparency. This commitment to integrity reassures players that they’re engaging with a platform that prioritizes trust, a key factor in ranking among the best online casinos Ireland.

Quality of Games

JACKBIT’s game library is a treasure trove, offering over 7,000 games from 85 renowned providers. Irish players can enjoy the best online pokies, including classic slots, progressive jackpots, and digital scratch cards. The platform also features a wide range of table games like blackjack, roulette, and baccarat, alongside immersive live dealer options that bring the thrill of a real casino to your screen. The sportsbook, with 140+ sports types, includes local favorites like GAA, horse racing, and soccer, making JACKBIT a versatile choice in the best online casinos Ireland.

Game Category	Examples	Providers
Slots	Starburst, Mega Moolah	NetEnt, Microgaming
Table Games	Blackjack, Roulette	Evolution, Pragmatic Play
Live Dealer	Live Poker, Baccarat	Evolution, Ezugi
Sportsbook	GAA, Soccer, Rugby	Proprietary

Quality of Bonuses and Promotions

JACKBIT’s bonuses are designed to maximize player value, starting with a Welcome Bonus of 30% Rakeback + 100 First Deposit Free Spins with no KYC requirements. Additional promotions include:

Weekly Giveaways: $10,000 cash and 10,000 free spins.
VIP System: Up to 30% Rakeback based on player activity.
Social Media Bonuses: Free rewards for engaging with JACKBIT online.
Pragmatic Drops & Wins: €2,000,000 in prize pools.
Weekly Sports Tournament: 20,000$

These promotions, paired with low wagering requirements, make JACKBIT a leader in the best online casinos Ireland for bonus offerings.

✅ GRAB YOUR WELCOME BONUS OF 30% RAKEBACK + 100 FREE SPINS

Payment Methods and Banking Experience

As a premier pay ID casino, JACKBIT offers seamless transactions tailored to Irish players. The platform supports over 17 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Ripple (XRP), and Solana (SOL), ensuring instant, fee-free deposits and withdrawals.

For those preferring traditional methods, JACKBIT accepts fiat options like Visa, MasterCard, Google Pay, Apple Pay, and bank transfers. This flexibility enhances JACKBIT’s appeal in the best online casinos Ireland.

Payment Method	Type	Processing Time	Fees
Bitcoin (BTC)	Crypto	Instant	None
Ethereum (ETH)	Crypto	Instant	None
Tether (USDT)	Crypto	Instant	None
Visa/MasterCard	Fiat	Instant	None
Google Pay/Apple Pay	Fiat	Instant	None
Bank Transfer	Fiat	1-3 Days	None

Online Security

JACKBIT prioritizes player safety with military-grade encryption, secure servers, and a dedicated security team. As an anonymous online casino, it eliminates KYC requirements, allowing Irish players to enjoy gaming without sharing personal details. This focus on privacy and security makes JACKBIT a top choice in the best online casinos in Ireland.

Mobile Experience

JACKBIT’s HTML5-powered mobile platform delivers a flawless gaming experience on iOS and Android devices. Whether you’re spinning the best online pokies, placing sports bets, or enjoying live dealer games, the mobile site offers intuitive navigation, fast load times, and full functionality. This mobile excellence reinforces JACKBIT’s position of the best online casino in Ireland.

Quality of Sportsbook

JACKBIT’s sportsbook is a standout feature, offering 82,000+ live monthly events, 75,000+ pre-match events, and 4,500+ betting types. Irish players can wager on local sports like Gaelic football, hurling, and horse racing, alongside global options like soccer, rugby, and esports.

Exclusive bonuses, such as free bets, deposit bonuses, and cashback, enhance the betting experience, making JACKBIT a leader in the best online casinos Ireland.

As a new online casino, JACKBIT eliminates KYC requirements, enabling players to sign up and play anonymously. This privacy-first approach is a major draw for Irish players, positioning JACKBIT as a premier anonymous online casino in the best online casinos Ireland.

Customer Support

JACKBIT provides 24/7 customer support via live chat, email, and phone, with multilingual assistance in English, German, French, and more. The professional support team ensures rapid resolutions, making JACKBIT a reliable choice in the online casinos Ireland.

Join JACKBIT today to explore 7,000+ games and claim your exclusive welcome bonus:

✅ GET STARTED WITH JACKBIT – FAST CRYPTO DEPOSITS, BIG WINS AHEAD!

JACKBIT’s Commitment to Responsible Gambling

Responsible gambling is a cornerstone of JACKBIT’s operations, setting it apart from the best online casinos Ireland. The platform employs advanced technology to detect problematic gambling patterns, offering affected players immediate support and resources. Tools like deposit limits, session timers, and self-exclusion options empower players to manage their gaming responsibly.

JACKBIT’s 24/7 support team is trained to handle responsible gambling concerns, ensuring players can access assistance at any time. This dedication to player welfare underscores why JACKBIT is a trusted new online casino in the best online casinos Ireland.

“Safety and enjoyment are inseparable,” said the review team. “JACKBIT’s proactive approach to responsible gambling makes it a standout in the best online casinos in Ireland.”

Steps to Join JACKBIT Crypto Casino:

Visit the JACKBIT Website:
Go to the official JACKBIT Crypto Casino website.
Click on the “Register” Button:
You’ll find the “Register” option at the top-right corner of the homepage. Click on it to start your registration process.
Fill in Your Details:
- Enter your email address.
- Create a secure password for your account.
- Select your preferred currency (you can choose between crypto or fiat).
Make Your First Deposit:
Once registered, make your initial deposit. JACKBIT accepts both crypto and fiat payment methods, so choose the one that works best for you.
Claim Your Welcome Bonus:
After your first deposit, you’ll receive:
- 30% Rakeback
- 100 Free Spins
  This bonus is a great way to start your journey at JACKBIT.
Start Gaming or Betting:
With over 7,000 games and a sportsbook, you can immediately begin exploring your options. Choose your favorite game or place your bets and enjoy!
Ensure Legal Age:
Make sure you meet the legal gambling age in your jurisdiction (typically 18 or 19) before signing up.

✅ SIGN UP AT JACKBIT – GRAB YOUR WELCOME BONUS & HIT THE SLOTS IN SECONDS!

Why JACKBIT Excels in 2025

JACKBIT’s blend of a vast game library, generous bonuses, and player-centric features makes it the undisputed leader in the best online casinos Ireland. Its anonymous online casino model, with no KYC requirements, appeals to privacy-conscious players, while its pay ID casino capabilities ensure seamless transactions.

The platform’s sportsbook, with extensive coverage of Irish sports, adds a local touch that resonates with players. Combined with a user-friendly mobile experience, robust security, and a commitment to fairness, JACKBIT delivers everything Irish players need for a thrilling and secure gaming experience.

Exploring JACKBIT’s Unique Features

Multilingual Platform

JACKBIT supports multiple languages, including English, German, and French, ensuring accessibility for Ireland’s diverse population. This inclusivity enhances its appeal in the best online casinos in Ireland, catering to both native and international players.

Rakeback VIP Club

The Rakeback VIP Club rewards loyal players with up to 30% Rakeback, based on their activity level. This program adds significant value, particularly for high rollers, making JACKBIT a top choice in the best online casinos in Ireland.

Crypto-Based Mini-Games

JACKBIT offers a selection of crypto-based mini-games, adding a modern twist to its offerings. These games appeal to tech-savvy players, further solidifying JACKBIT’s reputation as a new online casino in the best online casinos Ireland.

Social Media Engagement

JACKBIT’s Free Social Media Bonuses encourage players to interact with the platform online, offering rewards like free spins and cashback. This innovative approach boosts player engagement, making JACKBIT a standout in the best online casinos Ireland.

Tournaments and Leaderboards

JACKBIT hosts regular tournaments and leaderboards, allowing players to compete for cash prizes, free spins, and exclusive rewards. These events add an extra layer of excitement, reinforcing JACKBIT’s position as the best online casinos in Ireland.

Fast Payouts

JACKBIT’s commitment to fast payouts ensures players receive their winnings promptly, whether using cryptocurrencies or fiat methods. This efficiency is a key reason JACKBIT ranks among the best online casinos Ireland.

Community Focus

JACKBIT fosters a sense of community through its social media presence and player-focused initiatives. By engaging with players online and offering tailored promotions, JACKBIT builds loyalty, making it a top contender in the best online casinos Ireland.

The Irish Gaming Experience with JACKBIT

JACKBIT’s appeal to Irish players extends beyond its technical features. The platform’s inclusion of sports like Gaelic football and hurling in its sportsbook reflects an understanding of Ireland’s cultural passions. Its best online pokies feature themes inspired by Irish folklore, such as leprechauns, Celtic knots, and shamrocks, adding a local flavor to the gaming experience.

The absence of KYC requirements aligns with the preferences of many Irish players who value privacy, making JACKBIT a leading anonymous online casino in the best online casinos Ireland. Additionally, the platform’s support for Google Pay and Apple Pay caters to the growing popularity of mobile payments in Ireland, enhancing its status as a pay ID casino.

JACKBIT’s multilingual support ensures that players from Ireland’s diverse communities, including those in Dublin, Cork, Galway, and beyond, can navigate the platform with ease. This tailored experience feels both global and distinctly Irish, making JACKBIT a standout in the best online casinos in Ireland.

JACKBIT’s Role in Ireland’s Online Gambling Evolution

Ireland’s online gambling scene has grown rapidly, with players demanding platforms that offer convenience, variety, and security. JACKBIT has emerged as a trailblazer in this space, redefining what it means to be a new online casino in the best online casinos Ireland. Its innovative features, such as crypto-based gaming and no-KYC policies, align with the preferences of modern Irish players who seek flexibility and privacy.

The platform’s Pragmatic Drops & Wins promotion, with a €2,000,000 prize pool, has captured the attention of Irish players, offering opportunities to win big while playing the best online pokies. JACKBIT’s regular tournaments and leaderboards further enhance its appeal, creating a competitive yet fun environment that keeps players engaged.

JACKBIT also contributes to the local economy by partnering with Irish payment providers and supporting local sports betting markets. Its commitment to offering odds on GAA and horse racing events strengthens its connection to Ireland’s cultural heritage, making it a beloved choice in the best online casinos in Ireland.

How JACKBIT Supports Irish Players

JACKBIT goes beyond gaming to provide a holistic experience for Irish players. Its 24/7 customer support team is trained to address the unique needs of Irish users, offering assistance in English and other languages. Whether you’re troubleshooting a payment issue or seeking advice on responsible gambling, JACKBIT’s support team is always ready to help, reinforcing its position of the best online casinos in Ireland.

The platform’s VIP Rakeback Club is particularly appealing to Irish high rollers, offering tailored rewards that enhance the gaming experience. By providing up to 30% Rakeback, JACKBIT ensures that loyal players are recognized and rewarded, making it a top pay ID casino in the best online casinos Ireland.

JACKBIT’s social media engagement strategy also resonates with Ireland’s tech-savvy population. By offering Free Social Media Bonuses, the platform encourages players to stay connected, fostering a sense of community that is rare among online casinos. This approach makes JACKBIT a leader in the best online casinos Ireland.

Comparing JACKBIT to Other Platforms

While many platforms compete for a spot in the best online casinos Ireland, JACKBIT’s comprehensive offerings set it apart. Unlike competitors that may impose lengthy KYC processes, JACKBIT’s anonymous online casino model prioritizes player privacy. It’s 7,000+ games surpass the libraries of most rivals, and its sportsbook offers more betting options, particularly for Irish sports.

JACKBIT’s bonuses, with low wagering requirements and high value, outshine those of other platforms. The 30% Rakeback + 100 Free Spins welcome offer is more generous than standard deposit matches, and the Pragmatic Drops & Wins promotion adds a competitive edge. These factors make JACKBIT the top new online casino in the best online casinos Ireland.

Tips for Maximizing Your JACKBIT Experience

To get the most out of JACKBIT, consider these tips:

Claim the Welcome Bonus: Start with the 30% Rakeback + 100 Free Spins to boost your bankroll.
Join the VIP Club: Increase your activity to unlock higher Rakeback percentages.
Bet on Irish Sports: Wager on GAA, hurling, and horse racing for a local experience.
Use Cryptocurrencies: Enjoy instant, fee-free transactions with BTC, ETH, or USDT.
Participate in Tournaments: Compete in leaderboards for cash and spins.
Set Responsible Limits: Use deposit limits and session timers to manage your playtime.
Follow Social Media: Stay updated on Free Social Media Bonuses for extra rewards.

These strategies will enhance your experience, ensuring you make the most of JACKBIT’s offerings in the best online casinos Ireland.

JACKBIT’s Future in Ireland

As Ireland’s online gambling market continues to evolve, JACKBIT is well-positioned to maintain its leadership in the best online casinos in Ireland. Its commitment to innovation, from crypto-based mini-games to a no-KYC model, ensures it remains ahead of the curve. The platform’s focus on Irish sports and cultural themes further strengthens its appeal, making it a beloved choice for players across the country.

JACKBIT’s ongoing investment in technology, such as enhanced mobile features and AI-driven responsible gambling tools, signals its dedication to improving the player experience. By continuing to offer competitive bonuses and a diverse game library, JACKBIT is poised to remain a top pay ID casino in the best online casinos Ireland.

To celebrate its 2025 ranking, JACKBIT is offering new players an exclusive welcome bonus:

✅ CLAIM YOUR WELCOME BONUS AND PLAY 7,000+ GAMES AT JACKBIT CASINO

Final Words About The Best Online Casinos Ireland

JACKBIT Casino is the definitive choice for Irish players seeking the best online casinos Ireland in 2025. With its expansive game library, generous bonuses, secure payment options, and unwavering commitment to responsible gambling, JACKBIT delivers a gaming experience that is both thrilling and trustworthy. As a new online casino and anonymous online casino, it blends innovation with player-focused features, making it the premier pay ID casino for Irish players.

Whether you’re spinning the best online pokies, betting on your favorite sports, or enjoying live dealer games, JACKBIT offers endless entertainment. Sign up today to claim your welcome bonus and discover why JACKBIT is the #1 choice in online casinos in Ireland.

Email: support@jackbit.com

Disclaimer & Affiliate Disclosure

This article is for general information and promotional purposes only and shouldn’t be taken as legal, financial, or professional advice. While we aim for accuracy, we can’t guarantee everything is up-to-date or complete. Please double-check details before acting. Some links may be affiliate links, meaning we could earn a commission at no extra cost to you, but this doesn’t affect our content or opinions. Online gambling is for adults of legal age (typically 19+ in Ireland) and carries financial risk. Play responsibly and seek help if needed. Brand names mentioned belong to their respective owners. By reading this, you accept full responsibility for how you use the information.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9a494bed-945b-4b42-8b9d-25f7f239b9f2

The MIL Network –

May 8, 2025

MIL-OSI China: Australian football chief executive resigns

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

The head of football’s governing body in Australia has resigned.

Football Australia (FA) on Thursday announced that James Johnson has resigned as chief executive officer after more than five years in the role.

In a statement, Johnson said that it has been a “privilege” to lead the governing body.

“As someone who is immensely passionate about Australian football, this decision has not come easy, but I believe the time is right to step down,” he said.

Johnson joined the FA as chief executive in 2020 after previously working for the Asian Football Confederation, FIFA and the City Football Group.

During his tenure with the FA, Johnson led Australia’s successful bid to co-host the 2023 FIFA Women’s World Cup with New Zealand, and host the 2026 AFC Women’s Asian Cup.

His resignation comes as the FA prepares to appoint a new permanent head coach of the women’s national team. Tom Sermanni has served as the interim coach of the Matildas since September 2024 following Tony Gustavsson’s resignation.

Australian media reported that Australia’s Joe Montemurro, currently in charge of French women’s club Olympique Lyonnais, is set to be appointed as the Matildas’ manager.

Heather Garriock, who played 130 times for the Matildas between 1999 and 2011, has been named as the FA’s interim chief executive.

MIL OSI China News –

May 8, 2025
MIL-OSI United Kingdom: Appointment of Law Commissioners to the Law Commission

Source: United Kingdom – Executive Government & Departments

News story

Appointment of Law Commissioners to the Law Commission

The Lord Chancellor has approved the appointment of Professor Solene Rowan and Professor Lisa Webley as Commissioners of the Law Commission of England and Wales.

The Lord Chancellor has approved the appointment of:

Professor Solene Rowan as the Law Commissioner for Commercial & Common Law from 8 September 2025 to 7 September 2030

Professor Lisa Webley as the Law Commissioner for Property, Family & Trust Law from 1 September 2025 to 31 August 2030.

Professor Solène Rowan

Professor Solène Rowan is currently the Chair of Contract Law, the Vice-Dean for Students, Culture & Community, and the Director of the LLB / Master 1 programme at the Dickson Poon School of Law, King’s College London. She is also an Honorary Professor at the Australian National University and a Visiting Professor at Paris Panthéon-Assas University.

Solène’s principal areas of expertise are contract law, commercial law, and comparative law, all with a particular focus on remedies. She is an award-winning author of two monographs and articles in leading international legal publications, and a member of the editorial team of Chitty on Contracts. Her work has been widely cited by law reformers and courts domestically and abroad.

Solène was previously a Professor at the University of Oxford, an Associate Professor at the London School of Economics and Political Science and the Australian National University, and a Fellow and College Lecturer in Law at Queens’ College, Cambridge. She read law as an undergraduate at King’s College London and Paris Panthéon-Sorbonne University and obtained an LLM and a PhD from the University of Cambridge.

Professor Lisa Webley

Since 2018, Professor Webley has been the Chair in Legal Education and Research for the Birmingham Law School, University of Birmingham. From 2019 –2023, she served as Head and Dean of Birmingham Law School.

Both did not declare any political activity.

The Law Commission aims to ensure that the law is as fair, modern, simple and as cost-effective as possible. It conducts research and consultations to make systematic recommendations for consideration by Parliament.

Appointments of Commissioners to the Law Commission are made by the Lord Chancellor under the Law Commissions Act 1965. Appointments are regulated by the Commissioner for Public Appointments and recruitment processes comply with the Governance Code on Public Appointments.

Share this page

The following links open in a new tab

Share on Facebook (opens in new tab)

Share on Twitter (opens in new tab)

Updates to this page

Published 8 May 2025

MIL OSI United Kingdom –

May 8, 2025
MIL-Evening Report: Politics with Michelle Grattan: David Pocock wants us to aim for up to 90% reduction in emissions by 2035

Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

In the new parliament the government is expected to need only the Greens to pass the legislation opposed by the Coalition. Counting is not finished but on present indications it won’t require any other Senate crossbenchers.

Given Labor’s enhanced position it makes much harder an independent’s job of holding the Labor government to account and pursuing their own agenda.

One independent who had considerable success pursuing his issues in the last parliament is ACT Senator David Pocock. Pocock saw a massive 18-point swing towards him at the election, easily finishing first, above Labor’s Katy Gallagher.

Pocock now faces the reality that, despite an increase in his vote share, his actual negotiating power is weakened.

Pocock joins us today to talk about the new Senate situation, his aspirations for the next three years and the election generally.

On his stunning result from the ACT,

It was a really humbling result to see so much support. At the last election, I said to Canberrans that I wanted to be accessible and accountable to them and then stand on my record and I really tried to do that. So I think it’s probably a combination of things. One, people wanting someone who’s actually going to stand up for the ACT.

Couple that with a campaign where Peter Dutton and the Coalition made it just so hard for Canberra Liberals. You had a situation where the ACT Senate candidate for the Libs, Jacob Vadakkedathu, was pushing back on public service cuts, was saying how desperately the national capital needs a convention centre and needs it to be funded at least partially by the feds.

On the results more broadly, while Labor saw a massive positive result, Pocock asserts that voters don’t want the status quo.

It’s clearly a big victory for the Labor Party, but I don’t think this is a vote for the status quo. We saw independents across the country making seats marginal, potentially winning seats or holding on to their seats. The swing towards independents was about the same as the swing towards the Labor party.

I think the task of this next parliament is to really crack on with dealing with the big challenges we face in a really constructive way. I don’t think people just want more of the same.

Asked what 2035 climate change target he would like to see, Pocock stresses now is not the time to be cautious,

I think we’ve got to be really ambitious. From what I’ve heard from experts, we need to be looking at [a] 75 to 85, 90% [2035 emissions reductions target]. This is a time to go really hard on this, and we’ll hear the Labor Party, we’ll hear the Coalition say that, well we’re a small jurisdiction, what we do is important but it’s not the big game, we’ve got to support our partners overseas. We are one of the biggest fossil fuel exporters in the world, and we’re one of the highest per capita emitters. So what we do actually really matters.

I think people want to see that sort of leadership. We’re being, I think, essentially conned now that places like Japan need our gas for their energy security – when Japan is now exporting more gas than we send to them.

Pocock highlights that the conduct from both sides during this campaign is why truth in political advertising laws are needed,

When it comes to something like electoral reform, we saw [Labor] do a deal with the Coalition under the guise of we need the major parties to agree on this and get it through parliament. Then when it comes to truth in political advertising laws, Which they’ve committed to doing, they introduced a bill and then they just shelved it because I think it was actually inconvenient for them – because we saw them during this election use some pretty questionable tactics. Both the major parties are doing this, and I think more and more Australians expect better, want better.

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

– ref. Politics with Michelle Grattan: David Pocock wants us to aim for up to 90% reduction in emissions by 2035 – https://theconversation.com/politics-with-michelle-grattan-david-pocock-wants-us-to-aim-for-up-to-90-reduction-in-emissions-by-2035-256218

MIL OSI Analysis – EveningReport.nz –

May 8, 2025
MIL-OSI Russia: Chinese military warns and dislodges Philippine boat attempting to invade territorial waters near China’s Huangyan Dao Island

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

GUANGZHOU, May 8 (Xinhua) — The People’s Liberation Army’s Southern Zone Combat Command (SZCC) has organized naval and air forces to track, alert and dislodge a Philippine patrol boat that attempted to intrude into Chinese territorial waters near Huangyan Dao Island on May 5, SZCC spokesperson Tian Junli said Thursday.

“The action was carried out in accordance with laws and regulations, effectively preventing the Philippine boat from invading China’s territorial waters,” Tian Junli said, adding that the operation was “professional and legal.”

He added that the PLA’s South China Sea forces are always on high alert, vowing to resolutely safeguard national sovereignty, security, as well as the country’s maritime rights and interests, and firmly maintain peace and stability in the South China Sea. -0-

MIL OSI Russia News –

May 8, 2025
MIL-OSI Banking: Innovation and Collaboration Needed to Address Ocean Sustainability Challenges Busan, Republic of Korea | 08 May 2025 APEC Secretariat APEC Secretariat

Source: APEC – Asia Pacific Economic Cooperation

In a significant moment for APEC’s ongoing efforts to safeguard the ocean, Ambassador Yoon Seongmee, Chair of the 2025 APEC Senior Officials’ Meeting, and Executive Director Eduardo Pedrosa underscored the urgent need for innovative solutions and greater regional collaboration to tackle critical ocean sustainability challenges.

Addressing APEC’s ocean and fisheries ministers at the 5th APEC Ocean-Related Ministerial Meeting held last week in Busanhttps://www.apec.org/press/news-releases/2025/ministers-commit-to-collective-actions-for-ocean-sustainability, Ambassador Yoon highlighted the ocean’s central role in APEC’s broader development agenda, emphasizing that it is not only a crucial resource but also a frontier for innovation.

“The ocean connects the Asia-Pacific region; it stands as a frontier for innovation and digital transformation, as well as a key resource for prosperity,” Ambassador Yoon said. “Our collective action today will help define a sustainable and prosperous future, not only for our oceans but for all of APEC’s economies.”

Ambassador Yoon spotlighted how APEC has evolved to meet the challenges posed by climate change, technological advancements and demographic shifts, noting that ocean issues are increasingly tied to these larger global challenges. In this context, she also emphasized the importance of the APEC Ocean-Related Ministerial Meeting (AOMM).

“AOMM is the highest-level forum dedicated to cooperation on ocean and fisheries issues within APEC, and its discussions will form a vital component of the outcomes of APEC 2025.”

Pedrosa echoed these sentiments, emphasizing that the APEC economies are deeply interconnected through the Pacific Ocean, the world’s largest body of water.

“We are connected by the Pacific Ocean, and its resources are vital to the economic and social well-being of our economies,” Pedrosa said. “However, the ocean is facing profound challenges, and it is imperative that we continue to innovate and collaborate to secure its health and sustainability for future generations.”

Pedrosa highlighted APEC’s strategic roadmaps that guide collective action in addressing ocean-related issues, including the APEC Roadmap on Marine Debris, the Roadmap on Combatting IUU Fishing, and the Roadmap on Small-Scale Fisheries and Aquaculture.

“These roadmaps provide clear frameworks for APEC economies to align their efforts, implement effective measures, and protect marine ecosystems,” he noted. “They serve as a foundation for collaborative strategies to combat marine pollution, reduce illegal fishing and ensure the sustainable management of small-scale fisheries.”

Pedrosa also emphasized how emerging technologies, such as data collection, remote sensing and traceability, will enhance APEC’s capacity to monitor and manage marine resources.

“Innovation is crucial for the resilience of our oceans,” Pedrosa stated. “By leveraging technology, we can improve our ability to forecast, manage and protect marine ecosystems while supporting sustainable economic activities like fisheries and aquaculture.”

As APEC economies continue to address these challenges, both Ambassador Yoon and Pedrosa emphasized the need for ongoing dialogue and action.

“Today’s discussions represent just the beginning,” Pedrosa concluded. “Through continued cooperation and innovative solutions, we will ensure that the ocean remains a source of prosperity for all economies, while safeguarding its health for future generations.”

Korea as the host of APEC 2025 will host a total of 13 ministerial and high-level meetings throughout the year. The next ministerial meetings on human resources development, education and trade will be held in Jeju from 12-16 May.

For further details, please contact:
[email protected]

MIL OSI Global Banks –

May 8, 2025
MIL-OSI Australia: Commissioner’s address at the ATAX International Conference

Source: New places to play in Gungahlin

Rob Heferen, Commissioner of Taxation
Address at the UNSW 16th ATAX International Conference on Tax Administration
Sydney, 8 April 2025
(Check against delivery)

Introduction

Thank you for the introduction.

I’d like to acknowledge the Traditional Owners of the land on which we meet, the Gadigal people, and pay respects to Elders past and present, and extend that to First Nations people present today.

I would also like to say thank you to Michael Walpole and Jennie Granger for inviting me to speak today.

It is indeed a privilege to be invited, and I hope I can get a recurring invite.

The theme of this year’s ATAX conference is ‘Tax Administration: Getting it right’.

Before I get underway, some of my own housekeeping is important to note. Given the House of Representatives has been dissolved, we have a caretaker government, and so public servants, even we statutory officers, need to exercise appropriate discretion about what we say, and what we comment on.

Which I will, of course, do.

So, while I might be a little bland, I hope that doesn’t rule me out for the future.

But returning to the topic at hand, what ought we mean by ‘getting tax administration right’.

Before I step through my perspective on this issue, which some of you will have heard before (I do apologise for that, but I think they are messages worth repeating) I’d like to reflect a bit on the crucial role tax has in the social contract – Australian style.

As the famous American Supreme Court Judge Oliver Wendell Holmes Jr said, ‘tax is the price we pay for a civilised society’.

I’d like to expand on that to posit that the tax we pay is a vital element of our social contract; the citizenry pay tax and in return the government provides the services the community, collectively, demands.

This notion recognises that as individuals there is little we can deliver on our own, but collectively our ‘contribution rules’ set out our obligations for how we can mutually contribute to fund things the country needs and the community demands.

Thomas Hobbes, one of the founders of modern political philosophy, had his memorable take on the social contract. Writing during the English civil war, he noted in the Leviathan that, without any ruler, our ‘state of nature’ would result in…

such condition, there is no place for industry; because the fruit thereof is uncertain: and consequently no culture of the earth; no navigation, nor the use of commodities that may be imported by sea; no commodious buildings; no instruments of moving, and removing, such things as require much force; no knowledge of the face of the earth; no account of time; no arts; no letters; no society; and which is worst of all; continual fear, and danger of violent death; and the life of man, solitary, poor, nasty, brutish and short.

He may well have been over-influenced by England’s challenges at the time, but I think a moderated application can be seen to ring true today. Hence his view that to correct for this, society needs a strong powerful ruler – in Hobbes’ time, perhaps a sovereign, in our time and our place, a government. Perhaps not necessarily ‘strong and powerful’ as Hobbes’ may have imagined it, but definitely one with authority.

Without a government, there will be little peace, prosperity or freedom.

And without tax, at least in the Australian context, very hard to imagine a government.

But digging a fraction deeper, does Australia’s tax system reflect Australia’s social contract and does the Australian Taxation Office’s (ATO’s) administration reflect this?

I think there’s a strong argument to be made that a country’s tax system, provided there are strong democratic foundations and processes, reflects its aspirations, its underpinnings and how the country has chosen its ‘rules of contribution’.

The Australian tax system, or at least the policy to be implemented, has at least 2 elements:

First, as a federation, do we have the right balance between taxes levied by the Commonwealth as compared to that by the states?

Second, do we have the right ‘tax mix’. That is, the right balance between direct taxes (such as income tax) and indirect taxes (such as the GST and excise)?

Of course, both of these are core policy questions not appropriate for me to comment on.

But then the question of whether we get the tax administration right can be assessed by whether, given the first 2 elements, do we have the right administrative machinery and people in place to deliver the desired revenue for the government to deliver the services the community demands – that is, to deliver on the social contract?

The ‘right’ administration of taxes

The ATO is governed by legislation, passed by those who represent the broader community.

Much responsibility is vested in the Commissioner, and the parliament has provided me with significant authority, but has carefully constrained the Commissioner’s discretion to depart from the job at hand.

To deliver on our purpose, successive governments have ensured we are appropriately resourced, with both technology and people, and from this resourcing expect us to deliver on our role.

So what’s our role?

To collect the right amount of tax, in accordance with the law, in the most efficient way for the government and the taxpayer. And in doing this, treat taxpayers with courtesy and respect.

The law, of course, changes over time, both through explicit parliamentary action, and also through the court’s interpretation of the ‘hard cases’ that come before it.

The administrator then needs to ensure that their administration of the law is kept contemporary and is seen as fair and reasonable.

Does the ATO meet these benchmarks?

As I hope you would expect, we strive to, but of course, given none of us are perfect, in specific instances we may well fall short.

So, what are some useful metrics we can look to, to assess whether we are getting our administration right? That demonstrate we are meeting our Public Governance, Performance and Accountability Act 2013 (the ‘bible’ that governs the way we in the APS act) requirements to be effective, efficient, economical and ethical?

Let’s start with the most important one – are we effective at our job?

Our purpose, or the reason we exist, is clear: We collect tax so that government can deliver services for the Australian community.

Being the nation’s principal tax collector is not always an easy job, but it’s an important one. One that’s fundamental to Australia’s strong economy and society.

Without the ATO doing its role, the rest of the government suffers (both Commonwealth and state), and accordingly, as does our broader society.

The ATO makes up a bit under 10% of the APS, but the more than 190,000 other federal public servants rely on us to do our job, so they can do theirs, that is so that the government has the money it needs to provide the services the community demands.

And given Australia’s vertical fiscal imbalance, a significant proportion of revenue the states and territories use to fund their public services is collected by us as well.

If our purpose is our guiding light, then our roadmap is our vision as an agency.

Our vision is an Australia where every taxpayer meets their obligations because:

complying is easy

help is tailored

deliberate non-compliance has consequences.

We are confident that where these conditions are met, voluntary compliance will be optimised.

But our purpose drives what we do, day in and day out. It reinforces that our role is fundamental to making government work. At the end of the day, being that part of the government that collects tax revenue, so that other parts of government can deliver services for citizens, is our most fundamental function.

We definitely collect a lot of tax – in this year’s budget papersExternal Link our Treasury colleagues estimate that we will collect $676.1 billion in the current financial year.

But how does that compare with what we should collect?

It’s tricky to get a firm handle on this, but our best estimates stem from our ATO Tax Gap measurement.

Tax gap

The tax gap is an estimate of the difference between the estimate of what we expect to collect, and what would have been collected if every taxpayer was fully compliant with the law.

For the most recent tax gap data available, 2021–22, we estimate that we will collect $545.8 billion of the total $590.3 billion tax due.

That is, the amount of tax not collected, the net tax gap, is $44.5 billion, or 7.5% of the total amount of the tax.

The $545.8 billion, the amount we have or will collect, is made up of 2 parts:

$531.4 billion that is reported correctly when taxpayers lodge their tax statements, and

$14.3 billion which represents any difference between that first return and the final corrected return.

So, the $14.3 billion collected following a revised tax return is influenced by ATO action – typically our post lodgment compliance action like reviews and audits.

In the context of the performance of our tax system, the tax gap data indicates that we have 90.1% voluntary performance. This adjusts to 92.5% when we factor in our compliance action.

Tax gap components

But not all taxes are created equal, and the overall gap is made up of varying gaps or components across different taxation types. Based on the most recent verified data:

The gap for personal income taxes (both salary and business income) account for $25.8 billion of the $44.5 billion tax gap.

Given the size of the population for collections, it’s not surprising that this is the biggest. This group has a net tax gap of 8.5%.

Company income taxes (large, medium and small companies) account for $8.7 billion of the $44.5 billion tax gap. This group has a net tax gap of 6.3%.

GST – $4.4 billion and a net gap of 5.5%.

Excise and all other gaps – $5.6 billion or a net tax gap of 8.1%.

Comparisons to other jurisdictions

So how does this compare to other countries?

This is a tricky question to answer mainly because of the countries who attempt to calculate their tax gap, each have their own unique features of measurement. The variation between jurisdictions means we can find ourselves comparing apples to oranges in many cases.

But if we look at the trends in our respective data, perhaps there is something to glean.

In Australia, since 2016–17, the net gap has decreased from 7.8% to 7.5%. Over the same period, the UK’s net gap decreased from 5.4% to 5.2% (noting the parameters of their gap calculations vary slightly from Australia’s).

In both instances, the overall net gap decreased. And it’s important to remember, that this represents an estimate of what we are not collecting and what is not being reported. Being an estimate, they are often revised over time as more information becomes available.

Suffice to say, in our international engagement, we are confident that our methodology is good practice, and our measured gaps are amongst the smallest.

So, I think we are quite effective.

Administrative performance

Then, do we do this in the most efficient way for the government and the taxpayer?

Our costs of collection are, in the main, very low. For the 2023–24 year the cost to collect $100 of tax was 56 cents.

Unfortunately, good, robust information on compliance costs for all taxpayers is not collected and produced.

Do we treat taxpayers with courtesy and respect?

Our Charter outlines our commitments to the community in their interactions with us and includes a number of stated commitments around the behaviours expected from ATO officers when they engage with the community.

We have a range of metrics that provide valuable insights into how this is working in practice:

For service commitments: The ATO has 12 publicly stated service commitments that are reported every month on the ATO website. The last published results were for March 2025, and show all 12 were met.

Highlights included that

97% of electronic taxpayer requests were finalised in 15 days, against a target of 90%

99% of electronic tax returns and activity statements were finalised in 12 business days, against a target of 94%, and

100% of employee referrals for unpaid super were escalated with employers within 28 days, against a target of 90%.

Regarding complaints, they continue to represent a very small portion of our interactions with taxpayers, around 0.1%.

Our service commitment is that we will resolve 85% of complaints within 15 days or within a date negotiated with the taxpayer. And, pleasingly, our March 2025 (YTD) result showed we have finalised 99% of complaints within our service commitment.

To further ensure confidence in our administration, the ATO is fortunate to have fairly comprehensive scrutiny from a broad set of scrutineers.

Like any Commonwealth government funded agency or department we are subject to the thrice-yearly scrutiny on our appropriation by the relevant senate legislation committee – commonly known as our Senate Estimates process.

Again, like any other similarly funded agency we are subject to both financial audits and performance audits by the Australian National Audit Office.

And we have our own dedicated scrutineer – the Tax Ombudsman, Ruth Owen, who is speaking this afternoon.

Each of these processes provide us food for thought and often specific recommendations to improve our administration to which we attempt to respond to in a timely way.

A further step this year was the Australian Public Service Commission initiating a capability reviewExternal Link to seek some external assurance that we are well placed for the future. And it showed that we are.

Importantly, and as far as I am aware – all of our scrutineers are broadly happy that we are collecting the right amount of tax.

But often the biggest critics of an organisation sit within it.

And one of our shortcomings brought to my attention by my staff early on was the size of the debt book.

The broader debt book – that is, stock of the tax debt that is owed to the Commonwealth Government at the current point in time – is currently over $105 billion (compared to the 2024-25 total revenue of around $650 billion). It’s the largest it’s ever been, and it is money that could be benefitting all Australians.

We estimate that just under half of that $105.1 billion is made up of collectable debt. That $46.4 billion is almost double the $26.5 billion of collectable debt owed in 2019.

I’ll have more to say on this shortly.

Our vision

We have recently spent time on sharpening our focus for the future by committing to a very clear vision for tax administration.

Our vision is an Australia where every taxpayer meets their obligations because:

complying is easy

help is tailored

deliberate non-compliance has consequences.

I think there’s value in stepping this through in more detail today.

Firstly, every taxpayer meets their obligations because complying is easy.

As an administrator, part of our role is to take the complexity of the system and do what we can to make it as easy to use as we can. That is, be a ‘complexity broker’.

In all aspects of life we need complexity brokers. Some of us know how to fix our cars and are happy to rely on our own expertise. Others are content to know how to put in the petrol and steer the wheel and are happy to rely on those with the expertise.

The ATO’s role as a complexity broker is complemented by the role of the tax profession in our system – those who help Australians to meet and understand their tax obligations.

Focusing on the tax profession, strengthening that relationship continues to be one of our core priorities.

It is vital that we work closely with the tax profession to ensure they are properly equipped to be complexity brokers for their clients.

Secondly, every taxpayer meets their obligations because help is tailored.

While it’s important that all taxpayers have a clear digital pathway to resolve their interactions with the ATO, there will always be members of the community who need direct assistance from an ATO officer. While digital systems can enable a fast and seamless experience in some instances, it cannot be a substitute for human judgment.

Only human intervention can determine what constitutes fairness and reasonableness in those taxpayer circumstances where complex communication, compassion or empathy are needed to make decisions with the taxpayer.

We are currently developing our Future Interactions Strategy, which will further refine the how and when of our tailored approaches.

And within this strategy, our objectives will be laid out

to provide unassisted digital options to resolve tax matters where possible

to provide efficient human-assisted channels to assist in resolving more complex matters, or where the circumstances of the taxpayer require it

to provide secure, integrated digital platforms.

Alongside this is our focus on helping those experiencing vulnerability to meet their obligations.

To support this, the ATO is implementing a Vulnerability Capability that will strengthen and coordinate the way the ATO supports those who need it most. And in doing this we are grateful to the Tax Ombudsman for her recent reportExternal Link on this issue, particularly regarding financial abuse.

This program of work will include the development of a framework, together with specific actions and activities to support people experiencing vulnerability, including financial abuse.

And finally, every taxpayer meets their obligations because deliberate non-compliance has consequences.

In the tax system, we think about non-compliance against a wide set of obligations, including failure to lodge, false registration and deliberate incorrect reporting. And of course, it also considers not paying the appropriate amount of tax.

While all tax owed to the government is a priority – from individuals, and from small and large business – we are conscious of our duty to collect priority debt such as unpaid superannuation guarantee, PAYGW – that is, tax that is withheld from employees’ pay but not passed on to the government – and GST that is collected from customers but not passed on to the government, and from the small group of taxpayers who exhibit the most non-compliant behaviour in avoiding their obligations.

It is important to note that only 22,000 taxpayers are responsible for $11 billion of the total tax collectable debt value. In context, that’s about 1% of the total debtors responsible for 20% of what’s owed.

To be clear, I’m not talking about just the largest taxpayers – this 1% are taxpayers of varying sizes. And it is this group where our focus lies.

This approach we are taking to collect the tax owed to the government is deliberate and targeted, with action being taken for those who repeatedly refuse to engage with us and continue to ignore our reminders.

For these taxpayers, we are moving more urgently to deploy the full powers available to us and we are beginning to see some positive impacts of this work, through reduction in the amount of debt owed to the government.

Conclusion

So, are we getting tax administration right? We, of course, have a few critics.

But we all need to keep reminding ourselves that the tax system is not an end in itself; it’s only ever an instrument for the government to get the money it needs to deliver the services the community desires.

Many of us, both internally and externally, can get caught up in the intricacies of various seemingly contradictory tax policies, the finer points of a court outcome, and the time it takes for us to finalise a complex ruling. Missing the reality of our tax system’s overall performance.

But total taxes largely meet society’s spending demands. Our tax gap is low and our service commitments largely met.

So, the conditions of tax administration doing its bit to deliver on our social contract are largely, or mainly, met.

Is our tax administration perfect? Of course not.

Is it about right? I am obviously biased, but I would say definitely.

Can we improve? Of course.

We’ve got work to do to achieve this. But that’s our aim.

Thank you.

MIL OSI News –

May 8, 2025
MIL-OSI Australia: Plumbing Australia (Vic) Pty Ltd – Public warning

Source: Australian Capital Territory Policing

Victorians are being warned about Plumbing Australia (Vic), after Consumer Affairs Victoria received more than 60 complaints since January last year from consumers unhappy with its services.

Its ABN (44 630 796 459) has been associated with more than 200 websites – many with almost identical pages. These websites appear prominently in online searches for plumbing services.

Search this document to confirm if a website you have accessed may be linked to Plumbing Australia (Vic) businesses: Plumbing Australia (Vic) websites (Word, 39KB)

Most complaints have been about General Home Services (generalhomeservices.com.au). Others include mrdrainmelbourne.com.au, 247 Local Plumber, Plumb patrol and Revive a pipe.

Based on complaints, Consumer Affairs Victoria believes Plumbing Australia (Vic) may have:

misled customers

wrongly accepted payment for services it did not supply, and

failed to refund payments when requested and required.

Reports suggest that Plumbing Australia (Vic)’s businesses follow a common approach:

After receiving a call, the business sends someone to assess the job and provide a quote.

The representative provides a basic inspection before telling the customer the job is complex and urgent.

Often, they will say major works are needed and provide a quote for thousands of dollars.

The consumer will be asked to pay a large deposit (usually 50%).

Once paid, the representative will leave, after agreeing to send a plumber to complete the work.

Consumers who get a second opinion often discover the works are not urgent or expensive.

Where consumers call the business back to seek a refund, business representatives are often slow to respond, uncooperative and in some cases, refuse to return the money.

Consumer Affairs Victoria Acting Director David Joyner urged people looking for help with emergency plumbing issues to choose tradespeople carefully.

“Dealing with a plumbing emergency is stressful, but there are ways to protect yourself,” he said.

“Look for reliable reviews and ask friends or family whether they know a tradesperson they can recommend.

“If possible, get a second opinion – especially if you’re told that a job is much larger than you expected – and steer clear of any tradie who asks you to pay a large deposit before they start.”

If you have had a bad experience with Plumbing Australia (Vic) or one of its businesses, contact us through our complaint form, email or by calling 1300 55 81 81.

Read our public warning:

MIL OSI News –

May 8, 2025

Category: Asia Pacific

Prime Minister’s remarks at the London Defence Conference: 8 May 2025

Updates to this page

Introduction: ASEAN’s Fintech Potential

Thailand’s Context and the BOT’s 3 Opens

Analyzing the 3 Opens: Rationale and Way Forward

Conclusion: Building a Future-Ready and Inclusive ASEAN Fintech Ecosystem

Change of His Majesty’s Ambassador to Ireland

Curriculum vitae

Share this page

Updates to this page

Appointment of Law Commissioners to the Law Commission

Professor Solène Rowan

Professor Lisa Webley

Share this page

Updates to this page

Introduction

The ‘right’ administration of taxes

Tax gap

Tax gap components

Comparisons to other jurisdictions

Administrative performance

Our vision

Conclusion