Category: Asia Pacific

MIL-OSI: GigaCloud Technology Inc. to Announce First Quarter 2025 Financial Results and Host Conference Call on May 12, 2025

Source: GlobeNewswire (MIL-OSI)

EL MONTE, Calif., May 05, 2025 (GLOBE NEWSWIRE) — GigaCloud Technology Inc. (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise, today announced that it will report its financial results for the first quarter ended March 31, 2025 after the market closes on Monday, May 12, 2025. The Company will host a conference call to discuss its financial results on the same day at 6:30 PM Eastern Time.

To access the conference call, participants should pre-register here to receive the dial-in information and a unique PIN. All participants are encouraged to dial-in 15 minutes prior to the conference call’s start time.

A live and archived webcast of the conference call will be accessible on the Company’s investor relations website at https://investors.gigacloudtech.com/news-events/events.

About GigaCloud Technology Inc.
GigaCloud Technology Inc. is a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. GigaCloud offers a comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories, including home appliances and fitness equipment. For more information, please visit the Company’s website: https://investors.gigacloudtech.com/

For investor and media inquiries, please contact:

GigaCloud Technology Inc.
ir@gigacloudtech.com

The MIL Network –

May 6, 2025
MIL-OSI: AvePoint to Participate in May Investor Conferences
Source: GlobeNewswire (MIL-OSI)

JERSEY CITY, N.J., May 05, 2025 (GLOBE NEWSWIRE) — AvePoint (Nasdaq: AVPT), the global leader in data security, governance and resilience, today announced that members of the Company’s executive management team will present at the following investor conferences:
- TD Cowen 53^rd Annual Technology, Media & Telecom Conference (New York, NY): Thursday, 5/29 at 2:25 pm ET
- Jefferies Public Technology Conference (Newport Coast, CA): Thursday, 5/29 at 10:30am PT
In addition, AvePoint will attend the following investor conferences:
- 20^th Annual Needham Technology, Media & Consumer 1×1 Conference (Virtual): Monday, 5/12
- Evercore ISI Software 1×1 Day (New York, NY): Thursday, 5/29
- Morgan Stanley Virtual ASEAN Conference 2025 (Virtual): Thursday, 5/29
A live and archived audio webcast of all presentations will be available on the AvePoint Investor Relations website.

About AvePoint:

Beyond Secure. AvePoint is the global leader in data security, governance, and resilience, going beyond traditional solutions to ensure a robust data foundation and enable organizations everywhere to collaborate with confidence. Over 25,000 customers worldwide rely on the AvePoint Confidence Platform to prepare, secure, and optimize their critical data across Microsoft, Google, Salesforce, and other collaboration environments. AvePoint’s global channel partner program includes approximately 5,000 managed service providers, value-added resellers, and systems integrators, with our solutions available in more than 100 cloud marketplaces. To learn more, visit www.avepoint.com.

Forward-Looking Statements:

This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and other federal securities laws including statements regarding the future performance of and market opportunities for AvePoint. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: changes in the competitive and regulated industries in which AvePoint operates, variations in operating performance across competitors, changes in laws and regulations affecting AvePoint’s business and changes in AvePoint’s ability to implement business plans, forecasts, and ability to identify and realize additional opportunities, and the risk of downturns in the market and the technology industry. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of AvePoint’s most recent Annual Report on Form 10-K. Copies of this and other documents filed by AvePoint from time to time are available on the SEC’s website, www.sec.gov. This filing identifies and addresses other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and AvePoint does not assume any obligation and does not intend to update or revise these forward-looking statements after the date of this release, whether as a result of new information, future events, or otherwise, except as required by law. AvePoint does not give any assurance that it will achieve its expectations. Unless the context otherwise indicates, references in this press release to the terms “AvePoint,” “the Company,” “we,” “our” and “us” refer to AvePoint, Inc. and its subsidiaries.

Disclosure Information:

AvePoint uses the https://www.avepoint.com/ir website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

Investor Contact
AvePoint
Jamie Arestia
ir@avepoint.com
(551) 220-5654

Media Contact
AvePoint
Nicole Caci
pr@avepoint.com
(201) 201-8143

The MIL Network –
May 6, 2025

MIL-OSI: Palomar Holdings, Inc. Reports First Quarter 2025 Results

Source: GlobeNewswire (MIL-OSI)

LA JOLLA, Calif., May 05, 2025 (GLOBE NEWSWIRE) — Palomar Holdings, Inc. (NASDAQ:PLMR) (“Palomar” or “Company”) reported net income of $42.9 million, or $1.57 per diluted share, for the first quarter of 2025 compared to net income of $26.4 million, or $1.04 per diluted share, for the first quarter of 2024. Adjusted net income⁽¹⁾ was $51.3 million, or $1.87 per diluted share, for the first quarter of 2025 as compared to $27.8 million, or $1.09 per diluted share, for the first quarter of 2024.

First Quarter 2025 Highlights

Gross written premiums increased by 20.1% to $442.2 million compared to $368.1 million in the first quarter of 2024
Net income of $42.9 million compared to $26.4 million in the first quarter of 2024
Adjusted net income⁽¹⁾ increased 84.6% to $51.3 million compared to $27.8 million in the first quarter of 2024
Total loss ratio of 23.6% compared to 24.9% in the first quarter of 2024
Catastrophe loss ratio⁽¹⁾ of -0.3% compared to 3.1% in the first quarter of 2024
Combined ratio of 73.1% compared to 76.9% in the first quarter of 2024
Adjusted combined ratio⁽¹⁾ of 68.5% compared to 73.0%, in the first quarter of 2024
Adjusted combined ratio excluding catastrophe losses⁽¹⁾ of 68.9% compared to 69.8%, in the first quarter of 2024
Annualized return on equity of 22.6% compared to 21.7% in the first quarter of 2024
Annualized adjusted return on equity⁽¹⁾ of 27.0% compared to 22.9% in the first quarter of 2024

^{(1) See discussion of “Non-GAAP and Key Performance Indicators” below.}

Mac Armstrong, Chairman and Chief Executive Officer, commented, “I am very pleased with our strong start to 2025, as our first quarter saw sustained gross written premium growth and record adjusted net income. The quarter featured 85% adjusted net income growth, a 69% adjusted combined ratio, and a 27% adjusted ROE. Our results demonstrate our continued execution of the Palomar 2X strategic imperative as well as concerted efforts to build a leading specialty insurance franchise with a resilient and diversified portfolio.  Our 20% gross written premium growth was driven by both new products like Crop and Casualty as well as our balanced mix of residential and commercial property products. Importantly, our same-store premium growth rate was 37%⁽²⁾, demonstrating the strong underlying momentum that exists across our portfolio of specialty products.”  

Mr. Armstrong continued, “Beyond our financial performance, we remain focused on executing all our 2025 strategic imperatives. We continue to make investments across our organization, including the successful acquisition of Advanced AgProtection. This acquisition enhances the talent and operational scale of our Crop franchise and is expected to strengthen the near-term and long-term prospects of Palomar.” 

^{(2) Excludes the impact of lines of business exited or discontinued since prior year.}

Underwriting Results

Gross written premiums increased 20.1% to $442.2 million compared to $368.1 million in the first quarter of 2024, while net earned premiums increased 52.1% compared to the prior year’s first quarter.

Losses and loss adjustment expenses for the first quarter were $38.7 million, comprised of $39.2 million of attritional losses, offset by $0.5 million of favorable development on prior year catastrophe events. The loss ratio for the quarter was 23.6%, comprised of an attritional loss ratio of 23.9% and a catastrophe loss ratio⁽¹⁾ of -0.3% compared to a loss ratio of 24.9% during the same period last year comprised of an attritional loss ratio of 21.8% and a catastrophe loss ratio⁽¹⁾ of 3.1%.

Underwriting income⁽¹⁾ for the first quarter was $44.1 million resulting in a combined ratio of 73.1% compared to underwriting income of $25.0 million resulting in a combined ratio of 76.9% during the same period last year. The Company’s adjusted underwriting income⁽¹⁾ was $51.6 million resulting in an adjusted combined ratio⁽¹⁾ of 68.5% in the first quarter compared to adjusted underwriting income⁽¹⁾ of $29.2 million and an adjusted combined ratio⁽¹⁾ of 73.0% during the same period last year. The Company’s adjusted combined ratio excluding catastrophe losses⁽¹⁾ was 68.9% compared to 69.8% during the same period last year.

Investment Results
Net investment income increased by 69.1% to $12.1 million compared to $7.1 million in the prior year’s first quarter. The increase was primarily due to higher yields on invested assets and a higher average balance of investments held during the three months ended March 31, 2025 due to cash generated from operations and proceeds from the August 2024 public offering. The weighted average duration of the fixed-maturity investment portfolio, including cash equivalents, was 4.09 years at March 31, 2025. Cash and invested assets totaled $1.2 billion at March 31, 2025. During the first quarter, the Company recorded $2.3 million net realized and unrealized losses related to its investment portfolio as compared to net realized and unrealized gains of $3.0 million during the same period last year.

Tax Rate
The effective tax rate for the three months ended March 31, 2025 was 20.1% compared to 23.2% for the three months ended March 31, 2024. For the current quarter, the Company’s income tax rate differed from the statutory rate due primarily to the tax impact of the permanent component of employee stock options offset by non-deductible executive compensation expense.

Stockholders’ Equity and Returns
Stockholders’ equity was $790.4 million at March 31, 2025, compared to $501.7 million at March 31, 2024. For the three months ended March 31, 2025, the Company’s annualized return on equity was 22.6% compared to 21.7% for the same period in the prior year while adjusted return on equity⁽¹⁾ was 27.0% compared to 22.9% for the same period in the prior year.

Full Year 2025 Outlook
For the full year 2025, the Company expects to achieve adjusted net income of $186 million to $200 million, an increase from the Company’s initial outlook of adjusted net income of $180 million to $192 million. This range includes an estimate of $8 million to $12 million of catastrophe losses for the remainder of the year.

Conference Call
As previously announced, Palomar will host a conference call Tuesday, May 6, 2025, to discuss its first quarter 2025 results at 12:00 p.m. (Eastern Time). The conference call can be accessed live by dialing 1-877-423-9813 or for international callers, 1-201-689-8573, and requesting to be joined to the Palomar First Quarter 2025 Earnings Conference Call. A replay will be available starting at 4:00 p.m. (Eastern Time) on May 6, 2025, and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the replay is 13752911. The replay will be available until 11:59 p.m. (Eastern Time) on May 13, 2025.

Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the investor relations section of the Company’s website at http://ir.palomarspecialty.com/. The online replay will remain available for a limited time beginning immediately following the call.

About Palomar Holdings, Inc.
Palomar Holdings, Inc. is the holding company of subsidiaries Palomar Specialty Insurance Company (“PSIC”), Palomar Specialty Reinsurance Company Bermuda Ltd. (“PSRE”), Palomar Insurance Agency, Inc., Palomar Excess and Surplus Insurance Company (“PESIC”), Palomar Underwriters Exchange Organization, Inc. (“PUEO”), First Indemnity of America Insurance Co. (“FIA”), and Palomar Crop Insurance Services, Inc. (“PCIS”). Palomar’s consolidated results also include Laulima Exchange (“Laulima”), a variable interest entity for which the Company is the primary beneficiary. Palomar is an innovative specialty insurer serving residential and commercial clients in five product categories: Earthquake, Inland Marine and Other Property, Casualty, Fronting, and Crop. Palomar’s insurance subsidiaries, PSIC, PSRE, and PESIC, have a financial strength rating of “A” (Excellent) from A.M. Best. FIA carries an “A-” (Stable) rating from A.M. Best.

To learn more, visit PLMR.com.

Non-GAAP and Key Performance Indicators

Palomar discusses certain key performance indicators, described below, which provide useful information about the Company’s business and the operational factors underlying the Company’s financial performance.

Underwriting revenue is a non-GAAP financial measure defined as total revenue, excluding net investment income and net realized and unrealized gains and losses on investments. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of total revenue calculated in accordance with GAAP to underwriting revenue.

Underwriting income is a non-GAAP financial measure defined as income before income taxes excluding net investment income, net realized and unrealized gains and losses on investments, and interest expense. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of income before income taxes calculated in accordance with GAAP to underwriting income.

Adjusted net income is a non-GAAP financial measure defined as net income excluding the impact of certain items that may not be indicative of underlying business trends, operating results, or future outlook, net of tax impact. Palomar calculates the tax impact only on adjustments which would be included in calculating the Company’s income tax expense using the estimated tax rate at which the company received a deduction for these adjustments. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of net income calculated in accordance with GAAP to adjusted net income.

Annualized Return on equity is net income expressed on an annualized basis as a percentage of average beginning and ending stockholders’ equity during the period.

Annualized adjusted return on equity is a non-GAAP financial measure defined as adjusted net income expressed on an annualized basis as a percentage of average beginning and ending stockholders’ equity during the period. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of return on equity calculated using unadjusted GAAP numbers to adjusted return on equity.

Loss ratio, expressed as a percentage, is the ratio of losses and loss adjustment expenses, to net earned premiums.

Expense ratio, expressed as a percentage, is the ratio of acquisition and other underwriting expenses, net of commission and other income to net earned premiums.

Combined ratio is defined as the sum of the loss ratio and the expense ratio. A combined ratio under 100% generally indicates an underwriting profit. A combined ratio over 100% generally indicates an underwriting loss.

Adjusted combined ratio is a non-GAAP financial measure defined as the sum of the loss ratio and the expense ratio calculated excluding the impact of certain items that may not be indicative of underlying business trends, operating results, or future outlook. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of combined ratio calculated using unadjusted GAAP numbers to adjusted combined ratio.

Diluted adjusted earnings per share is a non-GAAP financial measure defined as adjusted net income divided by the weighted-average common shares outstanding for the period, reflecting the dilution which could occur if equity-based awards are converted into common share equivalents as calculated using the treasury stock method. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of diluted earnings per share calculated in accordance with GAAP to diluted adjusted earnings per share.

Catastrophe loss ratio is a non-GAAP financial measure defined as the ratio of catastrophe losses to net earned premiums. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of loss ratio calculated using unadjusted GAAP numbers to catastrophe loss ratio.

Adjusted combined ratio excluding catastrophe losses is a non-GAAP financial measure defined as adjusted combined ratio excluding the impact of catastrophe losses. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of combined ratio calculated using unadjusted GAAP numbers to adjusted combined ratio excluding catastrophe losses.

Adjusted underwriting income is a non-GAAP financial measure defined as underwriting income excluding the impact of certain items that may not be indicative of underlying business trends, operating results, or future outlook. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of income before income taxes calculated in accordance with GAAP to adjusted underwriting income.

Tangible stockholders’ equity is a non-GAAP financial measure defined as stockholders’ equity less goodwill and intangible assets. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of stockholders’ equity calculated in accordance with GAAP to tangible stockholders’ equity.

Safe Harbor Statement
Palomar cautions you that statements contained in this press release may regard matters that are not historical facts but are forward-looking statements. These statements are based on the company’s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Palomar that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in the Company’s business. The forward-looking statements are typically, but not always, identified through use of the words “believe,” “expect,” “enable,” “may,” “will,” “could,” “intends,” “estimate,” “anticipate,” “plan,” “predict,” “probable,” “potential,” “possible,” “should,” “continue,” and other words of similar meaning. Actual results could differ materially from the expectations contained in forward-looking statements as a result of several factors, including unexpected expenditures and costs, unexpected results or delays in development and regulatory review, regulatory approval requirements, the frequency and severity of adverse events and competitive conditions. These and other factors that may result in differences are discussed in greater detail in the Company’s filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact
Media Inquiries
Lindsay Conner
1-551-206-6217
lconner@plmr.com

Investor Relations
Jamie Lillis
1-203-428-3223
investors@plmr.com

Source: Palomar Holdings, Inc.

Summary of Operating Results:

The following tables summarize the Company’s results for the three months ended March 31, 2025 and 2024:

	Three Months Ended
	March 31,
	2025			2024			Change			% Change
	($ in thousands, except per share data)
Gross written premiums	$	442,163		$	368,078		$	74,085			20.1	%
Ceded written premiums		(230,745	)		(228,171	)		(2,574	)		1.1	%
Net written premiums		211,418			139,907			71,511			51.1	%
Net earned premiums		164,070			107,866			56,204			52.1	%
Commission and other income		830			528			302			57.2	%
Total underwriting revenue ⁽¹⁾		164,900			108,394			56,506			52.1	%
Losses and loss adjustment expenses		38,743			26,837			11,906			44.4	%
Acquisition expenses, net of ceding commissions and fronting fees		46,359			31,798			14,561			45.8	%
Other underwriting expenses		35,733			24,804			10,929			44.1	%
Underwriting income ⁽¹⁾		44,065			24,955			19,110			76.6	%
Interest expense		(85	)		(740	)		655			(88.5	)%
Net investment income		12,071			7,139			4,932			69.1	%
Net realized and unrealized (losses) gains on investments		(2,338	)		3,002			(5,340	)		(177.9	)%
Income before income taxes		53,713			34,356			19,357			56.3	%
Income tax expense		10,791			7,974			2,817			35.3	%
Net income	$	42,922		$	26,382		$	16,540			62.7	%
Adjustments:
Net realized and unrealized losses (gains) on investments		2,338			(3,002	)		5,340			(177.9	)%
Expenses associated with transactions		2,088			—			2,088			—	%
Stock-based compensation expense		4,745			3,820			925			24.2	%
Amortization of intangibles		707			390			317			81.3	%
Tax impact		(1,494	)		204			(1,698	)		NM
Adjusted net income ⁽¹⁾	$	51,306		$	27,794		$	23,512			84.6	%
Key Financial and Operating Metrics
Annualized return on equity		22.6	%		21.7	%
Annualized adjusted return on equity ⁽¹⁾		27.0	%		22.9	%
Loss ratio		23.6	%		24.9	%
Expense ratio		49.5	%		52.0	%
Combined ratio		73.1	%		76.9	%
Adjusted combined ratio ⁽¹⁾		68.5	%		73.0	%
Diluted earnings per share	$	1.57		$	1.04
Diluted adjusted earnings per share ⁽¹⁾	$	1.87		$	1.09
Catastrophe losses	$	(542	)	$	3,359
Catastrophe loss ratio ⁽¹⁾		(0.3	)%		3.1	%
Adjusted combined ratio excluding catastrophe losses ⁽¹⁾		68.9	%		69.8	%
Adjusted underwriting income ⁽¹⁾	$	51,605		$	29,165		$	22,440			76.9	%
NM – not meaningful

^{(1) Indicates Non-GAAP financial measure – see above for definition of Non-GAAP financial measures and see below for reconciliation of Non-GAAP financial measures to their most directly comparable measures prepared in accordance with GAAP.}

Condensed Consolidated Balance sheets

Palomar Holdings, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets (unaudited)

(in thousands, except shares and par value data)

	March 31,			December 31,
	2025			2024
	(Unaudited)
Assets
Investments:
Fixed maturity securities available for sale, at fair value (amortized cost: $1,015,892 in 2025; $973,330 in 2024)	$	991,759		$	939,046
Equity securities, at fair value (cost: $44,462 in 2025; $32,987 in 2024)		44,367			40,529
Equity method investment		2,259			2,277
Other investments		11,031			5,863
Total investments		1,049,416			987,715
Cash and cash equivalents		119,312			80,438
Restricted cash		15			101
Accrued investment income		8,590			8,440
Premiums receivable		334,247			305,724
Deferred policy acquisition costs, net of ceding commissions and fronting fees		102,861			94,881
Reinsurance recoverable on paid losses and loss adjustment expenses		30,361			47,076
Reinsurance recoverable on unpaid losses and loss adjustment expenses		361,227			348,083
Ceded unearned premiums		295,275			276,237
Prepaid expenses and other assets		92,292			91,086
Deferred tax assets, net		5,596			8,768
Property and equipment, net		2,393			429
Goodwill and intangible assets, net		24,925			13,242
Total assets	$	2,426,510		$	2,262,220
Liabilities and stockholders’ equity
Liabilities:
Accounts payable and other accrued liabilities	$	65,405		$	70,079
Reserve for losses and loss adjustment expenses		543,889			503,382
Unearned premiums		813,462			741,692
Ceded premium payable		179,105			190,168
Funds held under reinsurance treaty		34,200			27,869
Total liabilities		1,636,061			1,533,190
Stockholders’ equity:
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2025 and December 31, 2024		—			—
Common stock, $0.0001 par value, 500,000,000 shares authorized, 26,735,132 and 26,529,402 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively		3			3
Additional paid-in capital		501,950			493,656
Accumulated other comprehensive loss		(16,642	)		(26,845	)
Retained earnings		305,138			262,216
Total stockholders’ equity		790,449			729,030
Total liabilities and stockholders’ equity	$	2,426,510		$	2,262,220

Condensed Consolidated Income Statement

Palomar Holdings, Inc. and Subsidiaries

Condensed Consolidated Statements of Income and Comprehensive Income (loss) (Unaudited)

(in thousands, except shares and per share data)

	Three Months Ended
	March 31,
	2025			2024
Revenues:
Gross written premiums	$	442,163		$	368,078
Ceded written premiums		(230,745	)		(228,171	)
Net written premiums		211,418			139,907
Change in unearned premiums		(47,348	)		(32,041	)
Net earned premiums		164,070			107,866
Net investment income		12,071			7,139
Net realized and unrealized (losses) gains on investments		(2,338	)		3,002
Commission and other income		830			528
Total revenues		174,633			118,535
Expenses:
Losses and loss adjustment expenses		38,743			26,837
Acquisition expenses, net of ceding commissions and fronting fees		46,359			31,798
Other underwriting expenses		35,733			24,804
Interest expense		85			740
Total expenses		120,920			84,179
Income before income taxes		53,713			34,356
Income tax expense		10,791			7,974
Net income	$	42,922		$	26,382
Other comprehensive income, net:
Net unrealized gains (losses) on securities available for sale		10,203			(2,514	)
Net comprehensive income	$	53,125		$	23,868
Per Share Data:
Basic earnings per share	$	1.61		$	1.06
Diluted earnings per share	$	1.57		$	1.04

Weighted-average common shares outstanding:
Basic		26,658,106			24,862,367
Diluted		27,399,997			25,468,564

Underwriting Segment Data

The Company has a single reportable segment and offers specialty insurance products. Gross written premiums (GWP) by product, location and company are presented below:

	Three Months Ended March 31,
	2025					2024
	($ in thousands)
			% of					% of						%
	Amount		GWP			Amount		GWP			Change			Change
Product
Earthquake	$	130,245		29.5	%	$	105,729		28.7	%	$	24,516			23.2	%
Casualty		110,487		25.0	%		51,935		14.1	%		58,552			112.7	%
Inland Marine and Other Property		99,284		22.5	%		76,876		20.9	%		22,408			29.1	%
Fronting		53,927		12.2	%		94,831		25.8	%		(40,904	)		(43.1	)%
Crop		48,220		10.9	%		38,707		10.5	%		9,513			24.6	%
Total Gross Written Premiums	$	442,163		100.0	%	$	368,078		100.0	%	$	74,085			20.1	%

	Three Months Ended March 31,
	2025					2024
	($ in thousands)
			% of					% of
	Amount		GWP			Amount		GWP
State
California	$	139,723		31.6	%	$	157,217		42.7	%
Texas		44,991		10.2	%		40,795		11.1	%
Hawaii		20,358		4.6	%		12,516		3.4	%
Florida		18,641		4.2	%		13,924		3.8	%
Washington		15,669		3.5	%		12,002		3.3	%
New York		14,597		3.3	%		8,030		2.2	%
New Mexico		12,395		2.8	%		7,469		2.0	%
Colorado		12,168		2.8	%		9,605		2.6	%
Other		163,621		37.0	%		106,520		28.9	%
Total Gross Written Premiums	$	442,163		100.0	%	$	368,078		100.0	%

	Three Months Ended March 31,
	2025					2024
	($ in thousands)
			% of					% of
	Amount		GWP			Amount		GWP
Subsidiary
PSIC	$	230,917		52.2	%	$	222,657		60.5	%
PESIC		190,786		43.1	%		136,493		37.1	%
Laulima		16,037		3.7	%		8,928		2.4	%
FIA		4,423		1.0	%		—		—	%
Total Gross Written Premiums	$	442,163		100.0	%	$	368,078		100.0	%

Gross and net earned premiums

The table below shows the amount of premiums the Company earned on a gross and net basis and the Company’s net earned premiums as a percentage of gross earned premiums for each period presented:

	Three Months Ended
	March 31,
	2025			2024			Change			% Change
	($ in thousands)
Gross earned premiums	$	375,776		$	302,872		$	72,904			24.1	%
Ceded earned premiums		(211,706	)		(195,006	)		(16,700	)		8.6	%
Net earned premiums	$	164,070		$	107,866		$	56,204			52.1	%

Net earned premium ratio		43.7	%		35.6	%

Loss detail

	Three Months Ended
	March 31,
	2025			2024			Change			% Change
	($ in thousands)
Catastrophe losses	$	(542	)	$	3,359		$	(3,901	)		(116.1	)%
Non-catastrophe losses		39,285			23,478			15,807			67.3	%
Total losses and loss adjustment expenses	$	38,743		$	26,837		$	11,906			44.4	%

Catastrophe loss ratio		(0.3	)%		3.1	%
Non-catastrophe loss ratio		23.9	%		21.8	%
Total loss ratio		23.6	%		24.9	%

The following table represents a reconciliation of changes in the ending reserve balances for losses and loss adjustment expenses:

	Three Months Ended March 31,
	2025			2024
	(in thousands)
Reserve for losses and LAE net of reinsurance recoverables at beginning of period	$	155,299		$	97,653
Add: Balance acquired from FIA⁽¹⁾		6,788			—
Add: Incurred losses and LAE, net of reinsurance, related to:
Current year		43,059			26,333
Prior years		(4,316	)		504
Total incurred		38,743			26,837
Deduct: Loss and LAE payments, net of reinsurance, related to:
Current year		4,998			4,895
Prior years		13,170			9,432
Total payments		18,168			14,327
Reserve for losses and LAE net of reinsurance recoverables at end of period		182,662			110,163
Add: Reinsurance recoverables on unpaid losses and LAE at end of period		361,227			292,024
Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE at end of period	$	543,889		$	402,187

^{(1) Represents amounts recognized in Reserve for losses and LAE net of reinsurance recoverables upon acquisition of FIA on 1/1/2025, in accordance with ASC 805, Business Combinations.}

Reconciliation of Non-GAAP Financial Measures

For the three months ended March 31, 2025 and 2024, the Non-GAAP financial measures discussed above reconcile to their most comparable GAAP measures as follows:

Underwriting revenue

	Three Months Ended
	March 31,
	2025			2024
	(in thousands)
Total revenue	$	174,633		$	118,535
Net investment income		(12,071	)		(7,139	)
Net realized and unrealized losses (gains) on investments		2,338			(3,002	)
Underwriting revenue	$	164,900		$	108,394

Underwriting income and adjusted underwriting income

	Three Months Ended
	March 31,
	2025			2024
	(in thousands)
Income before income taxes	$	53,713		$	34,356
Net investment income		(12,071	)		(7,139	)
Net realized and unrealized losses (gains) on investments		2,338			(3,002	)
Interest expense		85			740
Underwriting income	$	44,065		$	24,955
Expenses associated with transactions		2,088			—
Stock-based compensation expense		4,745			3,820
Amortization of intangibles		707			390
Adjusted underwriting income	$	51,605		$	29,165

Adjusted net income

	Three Months Ended
	March 31,
	2025			2024
	(in thousands)
Net income	$	42,922		$	26,382
Adjustments:
Net realized and unrealized losses (gains) on investments		2,338			(3,002	)
Expenses associated with transactions		2,088			—
Stock-based compensation expense		4,745			3,820
Amortization of intangibles		707			390
Tax impact		(1,494	)		204
Adjusted net income	$	51,306		$	27,794

Annualized adjusted return on equity

	Three Months Ended
	March 31,
	2025			2024
	(in thousands)

Annualized adjusted net income	$	205,224		$	111,176
Average stockholders’ equity	$	759,739		$	486,455
Annualized adjusted return on equity		27.0	%		22.9	%

Adjusted combined ratio

	Three Months Ended
	March 31,
	2025			2024
	(in thousands)
Numerator: Sum of losses and loss adjustment expenses, acquisition expenses, and other underwriting expenses, net of commission and other income	$	120,005		$	82,911
Denominator: Net earned premiums	$	164,070		$	107,866
Combined ratio		73.1	%		76.9	%
Adjustments to numerator:
Expenses associated with transactions	$	(2,088	)	$	—
Stock-based compensation expense		(4,745	)		(3,820	)
Amortization of intangibles		(707	)		(390	)
Adjusted combined ratio		68.5	%		73.0	%

Diluted adjusted earnings per share

	Three Months Ended
	March 31,
	2025		2024
	(in thousands, except per share data)

Adjusted net income	$	51,306	$	27,794
Weighted-average common shares outstanding, diluted		27,399,997		25,468,564
Diluted adjusted earnings per share	$	1.87	$	1.09

Catastrophe loss ratio

	Three Months Ended
	March 31,
	2025			2024
	(in thousands)
Numerator: Losses and loss adjustment expenses	$	38,743		$	26,837
Denominator: Net earned premiums	$	164,070		$	107,866
Loss ratio		23.6	%		24.9	%

Numerator: Catastrophe losses	$	(542	)	$	3,359
Denominator: Net earned premiums	$	164,070		$	107,866
Catastrophe loss ratio		(0.3	)%		3.1	%

Adjusted combined ratio excluding catastrophe losses

	Three Months Ended
	March 31,
	2025			2024
	(in thousands)
Numerator: Sum of losses and loss adjustment expenses, acquisition expenses, and other underwriting expenses, net of commission and other income	$	120,005		$	82,911
Denominator: Net earned premiums	$	164,070		$	107,866
Combined ratio		73.1	%		76.9	%
Adjustments to numerator:
Expenses associated with transactions	$	(2,088	)	$	—
Stock-based compensation expense		(4,745	)		(3,820	)
Amortization of intangibles		(707	)		(390	)
Catastrophe losses		542			(3,359	)
Adjusted combined ratio excluding catastrophe losses		68.9	%		69.8	%

Tangible Stockholders’ equity

	March 31,			December 31,
	2025			2024
	(in thousands)
Stockholders’ equity	$	790,449		$	729,030
Goodwill and intangible assets		(24,925	)		(13,242	)
Tangible stockholders’ equity	$	765,524		$	715,788

The MIL Network –

May 6, 2025

MIL-Evening Report: Labor has the chance to do something big in its second term. What policy reforms should it take on?

Source: The Conversation (Au and NZ) – By Yee-Fui Ng, Associate Professor, Faculty of Law, Monash University

Dan Breckwoldt/Shutterstock

Labor’s historic election victory means the Albanese government has a rare opportunity to pursue a big, bold reform agenda. The scale of the victory all but guarantees a third term in office after the next election in 2028, and entrenches Anthony Albanese’s authority as prime minister.

The government may opt to play it safe and limit its legislative agenda to the policies it took to the election. But if it was to chance its arm, which substantial changes should it pursue that could make a real difference to Australia’s long-term future?

We asked three experts to nominate the top policy priorities for a second Albanese government. Here are their responses.

Yee-Fui Ng

Associate Professor of Law, Monash University

Advancing Voice and Truth with Indigenous Australians should be a priority. This would build on the comprehensive rejection of the politics of division by the Australian people.

After the defeat of the Voice referendum on Indigenous constitutional recognition, the Coalition reignited the culture wars by criticising “woke” schools and Peter Dutton’s attack on Indigenous welcome to country at Anzac Day ceremonies.

But that negative message did not resonate with modern multicultural Australia, with its diverse population and identities. Anthony Albanese and Penny Wong’s victory speeches on Saturday night emphasised a kinder and more inclusive politics, where all Australians are recognised and no one is left behind.

The Labor government now has a strong mandate to take more significant action on Indigenous issues. Aboriginal people experience higher rates of incarceration, and significant disparities in health, education and employment compared to non-Indigenous Australians. Reform measures could be introduced through legislation, rather than by trying to change the constitution.

Closing the gap and revisiting Voice and Truth should be a priority for the second Albanese government.
ChameleonsEye/Shutterstock

Another pressing reform is bolder action on climate change. There is a growing urgency to tackle the effects of global warming, with an increase in environmental degradation and natural disasters globally.

Peter Dutton’s proposal to build seven nuclear reactors on Australian soil was comprehensively repudiated at the election.

European countries have harnessed the potential of regenerative energies, with the proliferation of wind farms and electric cars. Australia needs to lift its game and be on the same path towards a more sustainable future.

We are custodians of the Earth for future generations. It is incumbent on the Labor government to put forward a stronger agenda for a cleaner, more liveable planet.

Helen Hodgson

Professor at Curtin Law School and Curtin Business School, Curtin University

Second terms are often regarded as the best time strategically for governments to legislate difficult, but necessary reforms. It will be no different for the re-elected Albanese government, which will command a large majority in the new parliament.

Genuine tax reform should be a priority for Labor over the next three years, starting with a reduction in the 50% capital gains tax (CGT) discount and taxing superannuation withdrawals on high balance accounts.

While many people consider negative gearing to be the main concern in relation to investment in housing, reforming the CGT discount would be a more effective way to address increases in housing prices.

Negative gearing is only effective as a wealth-building strategy if there is a payoff at the end through the concessional taxation on the capital gain. Reducing the CGT discount would limit the appeal of negative gearing.

It would also flow through to other forms of investment that might not be delivering productivity gains, including some investments within family trusts.

Reforming CGT would revisit a contentious Labor policy that was roundly rejected at the 2019 election. But the housing crisis has deepened since then and many voters would now see an overhaul as necessary and timely.

The second recommendation I would make would be to address the inequalities that arise from tax exempt superannuation. Prior to 2007, withdrawals from super funds were taxed concessionally, but were not fully exempt.

In the retirement phase, members are required to withdraw a minimum amount from their superannuation accounts. But these days they do it totally tax-free.

The government should consider taxing these withdrawals, subject to a tax credit that reflects the tax paid by the fund prior to retirement phase. It would also be subject to the existing Seniors and Pensioners Tax Offset, which can reduce the amount of tax paid.

The rates of these credits could be tweaked to ensure that only those in the wealthiest 20% are affected. This would level the playing field so the tax payable by most retirees with modest superannuation balances would fall within these two concessions.

These two reforms would help reduce wealth inequality in Australia and raise funds for social spending, including increases in the JobSeeker payment.

Intifar Chowdhury

Lecturer in Government, Flinders University

Despite being one of the most pressing concerns for young Australians, mental health did not get much airtime during the election campaign.

This is striking given the evidence. According to the 2024 Australian Youth Barometer, 98% of young people aged 18–24 report feelings of anxiety or depression, and nearly 40% experience a diagnosable mental disorder in any given year. These aren’t fringe numbers, they are endemic.

Labor has pledged $1 billion to expand access to free public mental health care, with a welcome focus on young people. But funding more services is only part of the solution.

Experts argue that simply increasing the number of people given access to treatment and support won’t go far enough if those people only receive short term or fragmented care. A more meaningful step would be to double the number of free sessions available to people suffering complex mental health needs. Good care takes time, trust and continuity.

More fundamentally, the current policy focus remains too clinical. By contrast, the most effective models for youth care are more holistic. Many young people grappling with mental illness are also dealing with unstable housing, drug use, educational disruption, or loneliness.

Psychosocial supports such as social workers, peer mentors and housing liaisons, are essential to wraparound care. Yet, they remain underfunded.

The new Medicare Mental Health Centres and Youth Specialist Care Centres, which were promised by Labor during the campaign, should not just offer more of the same. Policymakers must rethink the model entirely: multidisciplinary, community-driven, culturally safe, and youth-informed.

They must also address why young men, who make up a majority of suicide deaths, are the least likely to seek help.

Mental health policy should be local, flexible, and expansive. Right now, it still feels centralised, cautious, and underdone.

Improving the mental health and wellbeing of all Australians, especially young people, would be a valuable way of ensuring the government doesn’t squander the time and space its been given by voters to do something truly valuable and reformative.

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. Labor has the chance to do something big in its second term. What policy reforms should it take on? – https://theconversation.com/labor-has-the-chance-to-do-something-big-in-its-second-term-what-policy-reforms-should-it-take-on-255849

MIL OSI Analysis – EveningReport.nz –

May 6, 2025
MIL-OSI Security: Credit Suisse Services AG Admits to Conspiring with U.S. Taxpayers to Hide Assets and Income in Offshore Accounts and Admits that Credit Suisse Breached Its Prior Plea Agreement

Source: United States Attorneys General 1

Credit Suisse Services AG Pleads Guilty to Tax Crimes, Signs a Separate Non-Prosecution Agreement Related to Conduct in Singapore, and Agrees to Pay More Than $510M

Credit Suisse Services AG pleaded guilty and was sentenced today to conspiring to hide more than $4 billion from the IRS in at least 475 offshore accounts. The guilty plea by the Swiss corporation is the result of a years-long investigation by U.S. law enforcement to uncover financial fraud and abuse.

In addition to the plea, Credit Suisse Services AG entered into a non-prosecution agreement (NPA) with the Justice Department’s Tax Division and U.S. Attorney’s Office for the Eastern District of Virginia in connection with U.S. Accounts booked at Credit Suisse AG Singapore. Under the NPA, Credit Suisse Services AG agreed to cooperate with the Justice Department in ongoing investigations and to pay significant monetary penalties for maintaining accounts in Singapore on behalf of U.S. taxpayers who were using offshore accounts to evade U.S. taxes and reporting requirements.

According to the Plea Agreement, NPA, and documents filed in court today: from Jan. 1, 2010, and continuing until about July 2021, Credit Suisse AG, which had ultra-high-net-worth and high-net-worth individual clients around the globe, conspired with employees, U.S. customers, and others to willfully aid U.S. customers in concealing their ownership and control of assets and funds held at the bank. This enabled those U.S. customers to evade their U.S. tax obligations in several ways, including by opening and maintaining undeclared offshore accounts for U.S. taxpayers at Credit Suisse AG, and providing a variety of offshore private banking services that assisted U.S. taxpayers in the concealment of their assets and income from the IRS and allowed for their continued failure to file FBARs. Among other fraudulent acts, bankers at Credit Suisse falsified records, processed fictitious donation paperwork, and serviced more than $1 billion in accounts without documentation of tax compliance. In doing so, Credit Suisse AG committed new crimes and breached its May 2014 plea agreement with the United States.

Between 2014 and June 2023, Credit Suisse AG Singapore held undeclared accounts for U.S. persons, which Credit Suisse AG Singapore knew or should have known were U.S., with total assets valued at over $2 billion. Credit Suisse AG Singapore failed to adequately identify the true beneficial owners of accounts and failed to conduct adequate inquiry about U.S. indicia in the accounts. In 2023, during the post-merger of UBS AG Singapore and Credit Suisse AG Singapore, UBS became aware of accounts held at Credit Suisse AG Singapore that appeared to be undeclared U.S. accounts. UBS froze some of the accounts, voluntarily disclosed information about those identified accounts to the Justice Department and cooperated by undertaking an investigation into the identified accounts.

Under today’s resolutions, Credit Suisse Services AG and, by extension, UBS AG, is required to cooperate fully with ongoing investigations and affirmatively disclose any information it may later uncover regarding U.S.-related accounts. The agreements provide no protections for any individuals. Pursuant to the guilty plea and the NPA, Credit Suisse Services AG will pay a total of $510,608,909 in penalties, restitution, forfeiture, and fines.

Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division, U.S. Attorney Erik S. Siebert for the Eastern District of Virginia, and Chief Guy Ficco of IRS Criminal Investigation (IRS-CI) made the announcement.

Special Agents from IRS-CI’s International Tax & Financial Crimes specialty group, a team based out of Washington, D.C. that is dedicated to uncovering international tax crimes, is investigating the case. The Justice Department’s Office of International Affairs provided critical assistance in obtaining important evidence.

Senior Litigation Counsels Nanette L. Davis and Mark F. Daly as well as Trial Attorney Marissa R. Brodney of the Tax Division, and Assistant U.S. Attorney Kimberly M. Shartar for the Eastern District of Virginia are prosecuting the case.

MIL Security OSI –

May 6, 2025
MIL-OSI Russia: Chinese cinema box office exceeds 740 million yuan during May Day holiday

Translation. Region: Russian Federal

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

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

BEIJING, May 5 (Xinhua) — Chinese movie theaters earned more than 740 million yuan (about 102 million U.S. dollars) in box office revenue during the five-day national holiday to mark International Labor Day that ended Monday, according to data from Chinese ticketing platform Maoyan.

The chart was topped by director Andrew Lau’s “Dumpling Queen,” which grossed more than 190 million yuan. The film tells the story of a Hong Kong street food vendor who creates a popular frozen food brand.

Second place went to financial crime thriller Money Hunt. The film about high-stakes fraud and market manipulation earned more than 133 million yuan.

In third place was the Ghibli animation film Princess Mononoke, which grossed more than 69 million yuan. Hayao Miyazaki’s ecological epic, released in Japan in 1997, became an international hit. –0–

MIL OSI Russia News –

May 6, 2025
MIL-Evening Report: ‘I got sent something of people shooting themselves’ – research shows young people can’t avoid harmful content online

Source: The Conversation (Au and NZ) – By Dougal Sutherland, Clinical Psychologist, Te Herenga Waka — Victoria University of Wellington

Leon Neal/Getty Images

A new report from New Zealand’s Classification Office has revealed how young people are being exposed to harmful content online and what it is doing to their mental health.

The Classification Office spoke with ten different groups of young people aged between 12 and 25 from a diverse range of backgrounds.

They found that encountering extremely harmful – and sometime illegal – content is part of the online experience for young people. And they are often trying to deal with this without adequate support or guidance.

Unintentional consumption

The types of content young people talked about most involved graphic depictions of real-world violence – including executions, mass shootings, suicide and extreme cruelty towards animals.

Seeing extremely harmful content was mostly – but not always – described as unintentional or unwanted. Participants described encountering this content in much the same way they engaged with other types of content.

Participants talked about coming across this content in their social media feeds, in chat groups, or having content shared directly by others either online or in person. One male high school student said:

You can just be in like a server that’s for, like, a game that you like, or a YouTuber or something, and someone can just send something that’s crazy.

Another male high school student commented:

Yeah, I got sent something of people shooting themselves.

Even if young people did not actively look for this content, some engaged with it when it was shared or showed up unexpectedly in their social media feeds. Curiosity – or a desire to test their boundaries – lead to some young people looking at content even if they were aware this could be harmful or disturbing.

One male from a community group said:

I’ve seen gore […] Just out of curiosity, me and my friend […] well, someone actually posted it on their WhatsApp status. We asked the guy, “Where did you get this video from?” He said it was from a website, so we went there […] but there was some bad stuff. So […] we decided not to watch it again.

Content depicting real-world graphic violence, injury or death was mentioned in every group the Classifications Office spoke to. Participants also talked about young people sharing sexual images or videos of themselves or others online.

Many young people say they are coming across harmful content online unintentionally.
Motortion Films/Shutterstock

Lingering impacts

Participants described a range of impacts young people may experience when exposed to extremely harmful content, or harmful content more broadly. This includes emotional or psychological impacts, ranging from short-term shock or disgust to a longer-term impact on their mental health and wellbeing.

Young people also discussed the harmful impacts of content on individuals’ attitudes, beliefs, or behaviours. They used words such as “horrified”, “petrified” “traumatised” or “embarrassed”.

Others talked about not being able to “unsee” content.

In a written response, one high school student said:

harm can be something that gets on your mind and doesn’t leave it and keeps coming back again and again at times that you don’t want that thought to come into your head.

Seeking guidance

For many parents, the immediate reaction to finding their teen has watched harmful content might be to take away a young person’s device or attempt to ban them from access to the internet.

But young people involved in this research stressed the importance of being able to talk without fear of criticism or punishment. They felt that judgement or punitive actions – such as taking away devices – tend to hurt rather than help.

Some reported that strong emotional reactions or assumptions can complicate the situation and lead them to avoid reaching out altogether.

A former female Youth Advisory Panel member said:

it’s recognising how unhelpful it is ‘cause it’s just like, “Well, if you weren’t on that damned phone, then you wouldn’t have seen this stuff.” So I imagine if someone was to find objectional content then they wouldn’t feel like they could go to their parents, and then what do you do then? So I guess trying to build that understanding and bridge for communication.

Participants consistently emphasised the need for supportive and understanding responses when seeking help with difficult content or online experiences. They wanted adults to remain calm and allow them to fully share their experiences before reacting.

What they are seeking is practical guidance that acknowledges their efforts and agency in managing challenging situations.

One female high school student said:

[If my parents are] worried about something that’s happened, we’ll sort it out first, and then we’ll talk about their worries afterwards. And so like, if there’s something gone wrong, I will talk to them first because I know that they’ll have my back and they’ll sort it out for me. And then, if there are some worries, we’ll talk about it after things are sorted out.

There are several things parents can do to help young people cope with what they have seen online.

Reassuring young people that it’s not their fault can reduce any feelings of guilt or shame. Helping them to process what they’ve seen by acknowledging the upsetting nature of it and allowing space to discuss it can help process any intense emotions that may arise.

Finally, parents need to be encouraging young people to think critically about how viewing this material might affect them in the long term and any steps they can take to reduce their exposure to it. This will help young people build their own long-term solutions and competence in managing their online experiences.

Dr Dougal Sutherland is principal psychologist at Umbrella Wellbeing.

– ref. ‘I got sent something of people shooting themselves’ – research shows young people can’t avoid harmful content online – https://theconversation.com/i-got-sent-something-of-people-shooting-themselves-research-shows-young-people-cant-avoid-harmful-content-online-255773

MIL OSI Analysis – EveningReport.nz –

May 6, 2025
MIL-OSI Africa: Zimbabwe’s Finance Minister to Present Energy Investment Outlook at Invest in African Energy (IAE) 2025

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

PARIS, France, May 5, 2025/APO Group/ —

Mthuli Ncube, Zimbabwe’s Minister of Finance, Economic Planning and Investment Promotion, will address global investors at the Invest in African Energy (IAE) 2025 Forum in Paris next week. As a keynote speaker, Minister Ncube will present Zimbabwe’s energy investment outlook, economic reform agenda and efforts to mobilize private capital across the power, hydrocarbons and renewable energy value chains.

Zimbabwe is targeting rapid energy sector expansion to meet rising industrial and consumer demand, reduce reliance on electricity imports and support long-term economic transformation. Key investment opportunities span power generation, transmission infrastructure, oil and gas exploration and the deployment of renewable energy – with a particular emphasis on solar and hydroelectric resources. The country is estimated to have a $4.8-billion funding gap for large-scale solar projects and is actively working to expand the pool of available capital. Efforts are also underway to enhance financial inclusion and secure more favorable terms for foreign investors in energy infrastructure.

IAE 2025 (http://apo-opa.co/3GH3mpN) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Meanwhile, Zimbabwe is home to the Muzarabani Prospect in the north, currently being explored by Australian-listed Invictus Energy. The company has identified eight high-potential gas and condensate prospects in the eastern portion of its Cabora Bassa Basin project, with the Musuma prospect emerging as a key target for exploration drilling in 2025. Recent survey results revealed significant prospectivity in the eastern basin, estimating approximately 2.9 trillion cubic feet of gas and 184 million barrels of condensate across the eight prospects on a gross mean unrisked basis.

Minister Ncube’s participation signals Zimbabwe’s commitment to fostering an enabling investment environment and positioning energy as a central pillar of national development. The country’s strategic location, resource potential and improving macroeconomic stability make it a compelling destination for long-term infrastructure and energy investment.

“Minister Ncube’s keynote will offer investors direct insight into the policy direction and financing mechanisms shaping Zimbabwe’s energy future. His presence at IAE 2025 underscores the country’s strong push to deepen international investment partnerships in support of energy access and industrialization,” says Sandra Jeque, Events & Project Director at Energy Capital & Power.

MIL OSI Africa –

May 6, 2025
MIL-OSI Global: In Yemen, Trump risks falling into an ‘airpower trap’ that has drawn past US presidents into costly wars

Source: The Conversation – Global Perspectives – By Charles Walldorf, Professor of Politics and International Affairs, Wake Forest University

A Yemeni soldier inspects the damage reportedly caused by U.S. airstrikes in Sanaa, Yemen, on April 27, 2025. AP Photo/Osamah Abdulrahman

In the first 100 days of his second term, U.S. President Donald Trump has shown a willingness to lean on airpower when his administration decides that military force is necessary abroad.

So far, the second Trump administration has launched limited airstrikes in Somalia and carried out a weekslong air campaign against the Iranian-aligned Houthis who rule most of Yemen. The president has also threatened direct strikes against Iran itself should talks on a new nuclear deal collapse.

This turn to airpower for Trump makes sense to me. Airpower is cheap when compared with ground wars, and it usually comes with fewer casualties for those conducting the strikes. This helps explain why U.S. leaders, including Trump as a self-proclaimed “anti-war president,” typically find it attractive.

But if the Trump administration is not careful, it could fall into what military strategists informally call the “airpower trap.” This happens when the stated objectives of military force are too big for airpower alone to achieve, potentially leading to a face-saving escalation of conflict that could – if history is a guide – draw in ground forces from the U.S. or their local allies.

U.S. presidents such as Lyndon Johnson, Bill Clinton and Barack Obama all fell into this trap. In Vietnam, the Balkans and Syria, respectively, all ended up with far bigger wars than they bargained for, with consequences for civilian casualties, international peace and damage to America’s reputation abroad.

As an expert on U.S. national security policy and the Middle East region, I believe the Trump administration is in danger of falling into the airpower trap in Yemen and could potentially do the same in Iran should it elect to use direct force against Tehran. Recognizing this military and historical risk, and opting for some kind of off ramp from continued airstrikes, might be the best hope the U.S. government has to avoid a further escalation into full-scale war.

The limits of air bombardment

Research shows airpower is most effective when it’s used for limited objectives – things like taking out leaders of terrorist groups or degrading rival capabilities – or in support of ground operations for more ambitious ends, like bolstering or overturning governments.

Given the sophistication of U.S. airpower, a common fallacy among American strategists in particular is to think big strategic gains can be achieved solely by dropping bombs from above.

But when airpower alone fails, leaders can feel the pressure to expand the scope of conflict and end up with bigger military commitments than expected.

Johnson’s initial airpower-only strategy for attempting to stop communism in South Vietnam failed miserably, leading to his decision to commit half a million U.S. troops into war. That expanded conflict presaged years of war, with massive humanitarian and political consequences for people in Southeast Asia and America, as well as lasting reputational damage to the U.S.

Yemenis carry the coffins of civilians killed in U.S. airstrikes while participating in their funeral procession on May 1, 2025, in Sanaa, Yemen.
Mohammed Hamoud/Getty Images

Worried about U.S. and NATO credibility, Clinton escalated airstrikes – nearly to the point of introducing ground troops – for the ambitious end of stopping genocide in the Balkans during the early 1990s. Likewise, Obama’s initial airpower-only strategy to “degrade and destroy” the Islamic State group quickly faltered, leading Obama, under intense pressure at home and abroad, to introduce thousands of ground troops to combat the group’s territorial gains across Syria and Iraq.

In each case, relying on airpower alone ultimately failed to meet their objectives.

The airpower trap in Yemen

There are reasons to believe that conditions in Yemen mean that Trump, too, could be falling into a similar trap.

Trump has adopted an airpower-only strategy to “completely annihilate” the Houthis, a powerful rebel movement that all but won the recent Yemeni civil war. The proximate cause of the air campaign, a policy inaugurated by the Biden administration and expanded dramatically by Trump, is to restore the free flow of shipping in the Red Sea that the Houthis have disrupted by force to protest Israel’s ongoing war in Gaza.

The early signs are that this air campaign isn’t going well.

Despite the U.S. burning through finite munitions supplies at a cost of US$1 billion to bomb at least 800 sites since March 15, the Houthis are undeterred and the volume of Red Sea shipping remains as depressed as ever. Houthi attacks on U.S. ships and Israel continue. A Houthi missile narrowly missed Israel’s Ben-Gurion airport on May 4.

In fact, the direct attacks on the Houthis and the rapidly growing casualty count among Yemeni civilians from the Trump administration’s bombing campaign appear to be strengthening the Houthis’ political position in Yemen. In a particularly shocking case, U.S. bombs reportedly hit an African migrant camp, killing and injuring dozens of people.

The humanitarian crisis from the brutal bombing campaign by the Saudi-led coalition against the Houthis in the late 2010s had a similar effect.

Airpower played a big part then, too. The Saudi coalition, supported by the U.S., engaged in some 25,000 air raids against the Houthis, killing or maiming approximately 19,000 civilians. Yet despite such overwhelming force, the Houthis kept seizing territory and eventually won the civil war, according to experts.

They have been the country’s de facto rulers ever since.

Now, Trump is exploring options to further escalate to defeat the Houthis. Reports indicate his administration is considering arming, training and enabling anti-Houthi resistance fighters who are loosely affiliated with Yemen’s government in exile to launch ground operations.

Between diplomacy and quagmire

Proxies are a common tool U.S. leaders turn to when caught in the airpower trap. Sometimes those proxies fulfill American policy objectives, such as the Kurdish People’s Protection Units, or YPG, which helped the U.S. defeat the Islamic state caliphate in 2019.

A U.S. Air Force F-5 Skoshi Tiger drops three general purpose bombs on Vietnam on Feb. 28, 1966.
Photo by Underwood Archives/Getty Images

Often, U.S. proxies fail on both strategic and humanitarian terms, leading to further escalation, strategic quagmires for the U.S., and loss of life and political sovereignty for the people under attack. South Vietnam was an instructive example.

Riven by corruption, poor governance, weakness and political infighting, the South Vietnamese army and government proved so ineffective at fighting the North Vietnamese that Johnson decided to launch a ground war once U.S. airpower failed.

Today, the anti-Houthi resistance in Yemen looks a lot more like the South Vietnamese government than the Kurdish YPG. According to a 2025 report from the Soufan Center, a security think tank, the anti-Houthi forces are poorly trained and considered incapable of pulling off victories over the Houthis without major U.S. support.

Meanwhile, the anti-Houthi resistance consists of an estimated 85,000 fighters, compared with some 350,000 for the Houthis.

Absent continuing the air war or escalating it into a more all-encompassing conflict, U.S. officials can still pursue diplomacy in order to try to find a political solution to the Yemen conflict.

Despite the Trump’s administration public threats, the U.S. is already negotiating with the Houthis’ main sponsor, Iran.

For their part, the Houthis continue to insist that they will stop attacking ships in the Red Sea if the U.S.-backed Israeli war in Gaza halts, something that happened during the recent Gaza ceasefire.

The Trump administration might consider seeking alternatives, such as direct or indirect talks, if it wants to avoid getting stuck in a widening conflict in Yemen. History is full of examples of what happens when airpower takes on a logic of its own.

Charles Walldorf is a Senior Fellow at the think tank Defense Priorities.

– ref. In Yemen, Trump risks falling into an ‘airpower trap’ that has drawn past US presidents into costly wars – https://theconversation.com/in-yemen-trump-risks-falling-into-an-airpower-trap-that-has-drawn-past-us-presidents-into-costly-wars-255651

MIL OSI – Global Reports –

May 6, 2025
MIL-OSI USA: In Bipartisan Push, Hawley & Welch Introduce Major Legislation to Lower Prescription Drug Prices

US Senate News:

Source: United States Senator Josh Hawley (R-Mo)

Monday, May 05, 2025

Today U.S. Senator Josh Hawley (R-Mo.) and Senator Peter Welch (D-Vt.) introduced legislation to lower the cost of drug prices for Americans. The Fair Prescription Drug Prices for Americans Act would offer relief for millions of patients while ensuring Americans are no longer financing lower drug costs for foreigners.
This legislation would correct decades of policies that benefited pharmaceutical companies but left American patients holding the bag. While other developed nations pay reasonable prices for prescription drugs, Americans pay substantially higher prices for the same medications. In his first term, President Trump pursued “international price index” and “most favored nation” policies on drugs covered by Medicare to end these practices.
“For too long, Americans have subsidized prescription drug costs for foreigners while paying outrageous prices for their own medications,” Senator Hawley said.“President Trump previously advanced major reforms to ensure that American patients pay the same prices as consumers abroad. This bipartisan legislation would continue that work to end a drug market that favors Big Pharma, make prescriptions affordable again, and empower Americans to get the care they need.”
“No one should ever be forced to choose between paying for the prescriptions they need or putting food on the table. But Big Pharma’s price gouging has made that a reality for many Americans, forcing them to pay four or five times more for the same lifesaving medications as folks in other countries—it’s unacceptable,” said Senator Welch. “In his first term, President Trump pursued a most-favored nation policy to level the playing field for American patients. I’m glad to partner with Senator Hawley on this bipartisan bill that offers the administration a template to work with Congress to make that goal a reality. We have an obligation to ensure folks in Vermont, Missouri, and across the country get the best possible price for their prescription drugs.”
The Fair Prescription Drug Prices for Americans Act would:
Prohibit pharmaceutical companies from selling drugs in the United States at higher prices than the international average, ending the practice of forcing Americans to pay the world’s highest prices for medications
Impose stiff civil monetary penalties on pharmaceutical companies that violate this rule. Specifically:
The penalty would equal 10 times the difference between the U.S. list price and the average price of the drug sold in Canada, France, Germany, Japan, Italy, and the United Kingdom.
Penalties would be calculated and charged for each unit of drug or biological product sold at an inflated price.

Click here for full text of the bill.

MIL OSI USA News –

May 6, 2025
MIL-OSI USA: Effects of Lower Launch Costs on Previous Estimates for Space-Based, Boost-Phase Missile Defense

Source: US Congressional Budget Office

This letter provides CBO’s estimates of how recent declines in the costs of launch services would change previous estimates of the costs to deploy a constellation of space-based interceptors (SBIs) designed to defeat one or two intercontinental ballistic missiles (ICBMs) fired at the United States by a regional adversary, such as North Korea. Those previous estimates appeared in studies published by CBO in 2004 and by the National Research Council (NRC) in 2012. Although launch costs are lower now, threats and U.S. policies have changed since those studies were published in ways that could increase the overall size and cost of an SBI constellation.

By themselves, decreases in launch costs could reduce the previous estimates of the 20-year costs of various SBI constellations by 30 percent to 40 percent, CBO finds. For the lowest-cost alternative that CBO examines here, the reduction in launch costs would cause the total estimated cost of deploying and operating the SBI constellation for 20 years to fall from $264 billion to $161 billion (in 2025 dollars). For the highest-cost alternative that CBO examines, the total estimate would fall from $831 billion to $542 billion. (The wide range of estimates among the alternatives, both before and after accounting for the reduction in launch costs, results from differing assumptions about the performance of the individual components that make up the SBI constellations.)

Although launch costs are much lower today than when the previous studies were published, two major factors could lead to higher costs for space-based missile defenses than CBO and the NRC estimated earlier. First, North Korea’s ICBMs have increased in number and sophistication since those studies were published. Second, a recent executive order by the President, titled The Iron Dome for America, calls for deploying a missile defense system to protect the United States not only from attacks by regional adversaries (ones with limited capabilities, such as North Korea) but also from attacks by peer or near-peer adversaries (ones with military capabilities similar to those of the United States). Such a defense could require a more expansive SBI capability than the systems examined in the previous studies. Quantifying those recent changes will require further analysis, which CBO is undertaking at the request of the Subcommittee on Strategic Forces of the Senate Armed Services Committee.

MIL OSI USA News –

May 6, 2025
MIL-OSI USA: Cantwell Statement Ahead of Nat’l Day of Awareness for Missing and Murdered Indigenous Women and People

US Senate News:

Source: United States Senator for Washington Maria Cantwell

05.05.25

Cantwell Statement Ahead of Nat’l Day of Awareness for Missing and Murdered Indigenous Women and People

According to the Washington State Patrol, there are currently 112 unsolved cases of Missing and Murdered Indigenous People

WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA) a senior member of the Senate Committee on Indian Affairs, released the following statement ahead of Monday, May 5^th, the National Day of Awareness for Missing and Murdered Indigenous Women and People (MMIWP).

“May 5^th is a day we remember the victims of the Missing and Murdered Indigenous People crisis and recognize the suffering of families and Native communities,” said Sen. Cantwell. “We must stand together, continue to demand justice, and work together to get more law enforcement resources on the ground to help tribes protect their people from violence.”

Sen. Cantwell has been a vocal advocate and leader in championing legislation to help end the MMIWP crisis. In 2020, Sen. Cantwell’s Savanna’s Act was signed into law to help federal, state, and tribal law enforcement agencies better respond to cases of missing and murdered Indigenous women and people by improving coordination among all levels of law enforcement, increasing data collection and information sharing, and providing tribal governments with vital resources.

In May 2023, Sen. Cantwell held a press conference in Seattle with representatives from the Seattle Indian Health Board, tribal leaders, Indigenous community organizations, MMIWP advocates and loved ones of Indigenous persons who have gone missing. At the press conference, Sen. Cantwell announced she sent a letter to the Biden Administration urging them to prioritize funding to assist Tribes and organizations working to combat the MMIWP crisis. Video from that presser is available HERE, photos HERE, and a transcript HERE.

Following Sen. Cantwell’s urging, in June 2023 the U.S. Department of Justice announced the creation of the Missing or Murdered Indigenous Persons Regional Outreach Program, which dedicated five Assistant U.S. Attorneys and five coordinators to the task of resolving the cases of missing and murdered indigenous people. This included dedicated personnel based in Eastern Washington.

In July 2023, Sen. Cantwell introduced the Parity for Tribal Law Enforcement Act to help tribal police departments hire and retain tribal law enforcement officers by providing access to federal retirement, pension, death, and injury benefits on par with law enforcement officers from non-tribal jurisdictions. In May 2024, the Senate Committee on Indian Affairs held a hearing on Sen. Cantwell’s bill, which included testimony from Chris Sutter, Chief of Police of the Tulalip Tribal Police Department, and officials from the Department of the Interior and the National Congress of American Indians in support of the legislation. The Senate Committee on Indian Affairs favorably reported Sen. Cantwell’s bill to the full Senate in September 2024.

In October 2024, Sen. Cantwell announced $6.9 million in federal funding for state and municipal law enforcement agencies, tribal justice departments and programs, and medical examiner offices to help prosecute violence against women and children cases, among other things.

Sen. Cantwell has also helped secure public safety funding specifically for tribal communities. In the 2013 and 2022 reauthorizations of the Violence Against Women Act, Sen. Cantwell fought to include strong tribal policies including: allowing tribes to continue to have jurisdiction over dating violence and domestic violence crimes and violations of tribal protection orders, restoring tribal jurisdiction over violent and dangerous crimes such as child and sexual abuse, sex trafficking and stalking, and providing tribes with more resources to improve and build public safety programs within their communities.

In 2019, Sen. Cantwell co-sponsored the Securing Urgent Resources Vital to Indian Victim Empowerment (SURVIVE) Act to provide a substantial increase in resources for tribal crime victim assistance programs.

MIL OSI USA News –

May 6, 2025
MIL-OSI China: Xi’s historical insights into war and peace 2025-05-06 01:17:07 As the top Chinese leader travels to Moscow to celebrate the 80th anniversary of victory in the Great Patriotic War, his presence both carries the weight of history and reaffirms a vision of the future.

Source: People’s Republic of China – Ministry of National Defense

Chinese President Xi Jinping watches the military parade during the commemoration activities to mark the 70th anniversary of the victory of the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War, in Beijing, capital of China, Sept. 3, 2015. (Xinhua/Lan Hongguang)

BEIJING, May 5 (Xinhua) — In the stately Conference Building at the United Nations Headquarters in New York City, a 65-inch-tall resplendent bronze vessel gleams under soft light, its cloisonne enamel blazing in vibrant Chinese red.

The “Zun of Peace,” presented by Chinese President Xi Jinping in September 2015 as a special gift for the United Nations’ 70th anniversary, is not merely a delicate artifact. It embodies the aspiration and conviction of the Chinese people to seek peace, development, cooperation and win-win outcomes, Xi said at its unveiling.

A decade later, as the top Chinese leader travels to Moscow to celebrate the 80th anniversary of victory in the Great Patriotic War, his presence both carries the weight of history and reaffirms a vision of the future.

Leading a nation always aspiring for peace and harmony in its long history and further strengthened by its battles against militarism, imperialism and fascism in its recent past, Xi commands a unique insight into the value of peace, and has steadfastly championed the building of a peaceful world, a cause of great urgency given the tensions and conflicts on the global landscape today.

Chinese President Xi Jinping (R) attends a presentation ceremony on which the Chinese government gives the “Zun of Peace” to the United Nations as a gift in New York, the United States, Sept. 27, 2015. (Xinhua/Li Tao)

Xi sees history as a mirror from which humanity should draw lessons to avoid repeating past calamities.

This year marks the 80th anniversary of victory in what is commonly known in China as the World Anti-Fascist War or, more globally, as World War II. Almost every part of the world was involved, and more than 100 million were killed or wounded in what was described as the most destructive conflict in human history.

The bravery and tremendous sacrifice of the Chinese people played a decisive role in defeating Fascist Japan and offered strategic support to the Allies on the European and Pacific battlefields.

“History has told us to stay on high alert against war, which, like a demon and nightmare, would bring disaster and pain to the people,” Xi once said. “History has also told us to preserve peace with great care, as peace, like air and sunshine, is hardly noticed when people are benefiting from it, but none of us can live without it.”

This historical observation features prominently in Xi’s unrelenting pursuit of peace. He has repeatedly reiterated China’s commitment to peaceful development, pledging that China will never seek hegemony, expansion or any sphere of influence, no matter how strong it may grow.

During a 2014 visit to France, Xi reshaped Napoleon’s metaphor of China as a “sleeping lion” that would shake the world upon awakening. “Now China the lion has awakened. But it is a peaceful, amicable and civilized lion,” Xi said when illustrating the peaceful dimension of the Chinese Dream.

Xi’s philosophy stems from the millennia-old Chinese culture. An avid reader of traditional Chinese classics, he once expounded how ancient Chinese wisdom views war and peace by quoting “The Art of War,” a Chinese classic written more than 2,000 years ago.

The book’s key message “is that every effort should be made to prevent a war and great caution must be exercised when it comes to fighting a war,” Xi said when delivering a keynote speech in the UN Office at Geneva in 2017.

Xi’s view on prudence in warfare is also reflected in his exchanges with foreign leaders and officials.

“It has long been known that the real experts on military affairs do not want to employ military means to solve issues,” he quoted a Chinese aphorism when meeting with then U.S. Secretary of Defense James Mattis in Beijing in 2018.

Chinese President Xi Jinping straightens the ribbon on a flower basket during a ceremony to present flower baskets to fallen heroes at Tian’anmen Square in Beijing, capital of China, Sept. 30, 2024. (Xinhua/Wang Ye)

A clear manifestation of Xi’s reflection is to cherish history and honor heroes. “A nation of hope cannot be without heroes,” Xi once said. Every year since 2014, Xi has paid tribute to China’s fallen heroes on Martyrs’ Day, which falls on Sept. 30, a day ahead of the country’s National Day.

In 2015, when China celebrated the 70th anniversary of its victory in World War II, Xi presented medals to Chinese veterans and representatives from Russia and other countries who assisted Chinese soldiers on the battlefields.

Nikolai Chuikov, the grandson of Soviet General Marshal Vasily Chuikov, was among those who received a peace medal from Xi. “Of all the honors I have won, I hold the highest regard for the peace medal,” he said.

Chinese President Xi Jinping (R, front) shakes hands with a Russian veteran in Moscow, Russia, on May 8, 2015. (Xinhua/Zhang Duo)

MIL OSI China News –

May 6, 2025
MIL-OSI USA: Kathleen Adams named 2025 School of Pharmacy Teacher of the Year

Source: US State of Connecticut

Appreciating her time as an undergraduate student and graduating from the UConn School of Pharmacy in 2015, Adams rejoined Husky Nation as a faculty member in the fall of 2019. While working at Rhode Island Hospital, the Academic Medical Center for Brown University after graduation, Adams found her time working with learners, whether students or residents, to be most valuable. Through mentoring these learners and helping them reach their goals, Adams became driven to move this passion into a University setting as a professor. Wanting to give back to the School where she first found her love for pharmacy, Adams chose UConn – this time, as a professor.

“There is so much reward in seeing that lightbulb moment where students understand a hard concept or feel comfortable talking to a doctor.”

Headshot of Kathleen Adams (UConn Photo)

As a professor dedicated to her students, Adams looks forward to working each year to continuously improve lectures, curriculum, and experiences for her students. By valuing student feedback and watching her students implement in-class learning in clinical experiences, Adams strives to create more impactful and meaningful educational activities beyond the classroom.

The biggest challenge for Adams came during the transition back to in-person lectures and instruction after the pandemic. In pivoting out of this challenging time, Adams had to continuously adapt and rely on feedback from students.

Adams’s proudest accomplishment is the product of a collaboration with UConn’s Cassie Doyno and Lisa Holle as well as educators and software developers from Monash University in Australia. In collaborating, Adams and her colleagues developed the inpatient hospital version of a program called MyDispense. Described by Adams to be almost like a video game, MyDispense allows students to practice looking at patient charts, reviewing different medications, and deciding which medications are safe through interactive online simulations. In committing to inclusivity, MyDispense is a free, fully accessible software platform that any university can use.

In looking toward the future, Adams will strive to provide the best academic and professional foundations for students through the School’s new curriculum refresh. Likewise, as a believer in keeping students engaged, Adams plans to incorporate more active learning and immersive experiences in her classroom.

“Seeing the process of, over time, improving a course through feedback, practice, and experience has been remarkable.”

Adams will receive her award during commencement weekend in May.

MIL OSI USA News –

May 6, 2025
MIL-OSI Economics: Secretary-General of ASEAN Attends Interface with President of the Senate of the Kingdom of Cambodia

Source: ASEAN

Secretary-General of ASEAN, Dr. Kao Kim Hourn, today together with the Committee of the Permanent Representatives to ASEAN (CPR) and the Ambassador of Timor-Leste to ASEAN, attended an interface with Samdech Akka Moha Sena Padei Techo Hun Sen, President of the Senate of the Kingdom of Cambodia, at the ASEAN Headquarters/ASEAN Secretariat.

The Interface reaffirmed Cambodia’s vital role in ASEAN’s Community-building and regional integration efforts. Secretary-General Dr. Kao extended his heartfelt congratulations to Samdech Techo Hun Sen, the Royal Government, and the people of the Kingdom of Cambodia on the commemoration of the 26th anniversary of Cambodia’s membership in ASEAN, underscoring Cambodia’s enduring contributions to the advancement of ASEAN’s shared goals of peace, prosperity and unity.

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MIL OSI Economics –

May 6, 2025
MIL-OSI Economics: President of the Senate of the Kingdom of Cambodia delivers a Policy Speech at the ASEAN Headquarters/ASEAN Secretariat

Source: ASEAN

Samdech Akka Moha Sena Padei Techo Hun Sen, President of the Senate of the Kingdom of Cambodia, today delivered a Policy Speech at the ASEAN Headquarters/ASEAN Secretariat, in Jakarta, to commemorate the 26th anniversary of Cambodia’s membership in ASEAN.

Secretary-General of ASEAN, Dr. Kao Kim Hourn, delivered opening remarks prior to the Policy Speech, underscoring Samdech Techo Hun Sen’s distinguished leadership and extensive contributions to ASEAN’s Community-building efforts. In the context of ASEAN’s preparations to adopt the ASEAN Community Vision 2045 and its four Strategic Plans this year, the Secretary-General highlighted the significance of policy speeches by ASEAN Leaders in shaping the regional narrative and fostering engagement with the diplomatic corps, academia, think tanks, businesses, as well as with media representatives.

Read SG Dr. Kao’s full remarks here.

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MIL OSI Economics –

May 6, 2025
MIL-OSI Economics: Secretary-General of ASEAN Attends Dinner Reception in Commemoration of Cambodia’s 26th Anniversary of Membership in ASEAN

Source: ASEAN

Secretary-General of ASEAN, Dr. Kao Kim Hourn, this evening had the honour of attending a distinguished dinner reception to commemorate the 26th anniversary of Cambodia’s membership in ASEAN, which was graciously hosted by Samdech Akka Moha Sena Padei Techo Hun Sen, President of the Senate of the Kingdom of Cambodia, at the ASEAN Headquarters/ASEAN Secretariat.

The dinner reception was preceded by a ceremonial anniversary celebration and an insightful Policy Speech delivered by Samdech Techo Hun Sen earlier during the day. Among those in attendance were members of the Committee of Permanent Representatives to ASEAN (CPR), the Ambassador of Timor-Leste to ASEAN, Ambassadors from ASEAN’s Dialogue Partners and other external partner countries, as well as other distinguished guests. This meaningful gathering reaffirmed the strong ties between ASEAN and Cambodia and underscored their shared commitment to advancing regional cooperation and collaboration in the community-building efforts.

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MIL OSI Economics –

May 6, 2025
MIL-OSI Economics: Samdech Akka Moha Sena Padei Techo Hun Sen, President of the Senate of the Kingdom of Cambodia, paid an official visit to the ASEAN Headquarters/ASEAN Secretariat

Source: ASEAN

JAKARTA, 5 May 2025 – Samdech Akka Moha Sena Padei Techo Hun Sen, President of the Senate of the Kingdom of Cambodia, today concluded his official visit to the ASEAN Headquarters/ASEAN Secretariat.

The official visit featured a series of key events, including a symbolic tree planting ceremony, an Interface with the Secretary-General of ASEAN, Committee of Permanent Representative (CPR) and Ambassador of Timor Leste to ASEAN, a Policy Speech, followed by a Dinner Reception commemorating the 26th anniversary of Cambodia’s membership in ASEAN. These events were attended by the diplomatic corps in Jakarta, representatives of entities associated with ASEAN, academia and think tanks, business representatives, as well as staff members of the ASEAN Secretariat.

During the Policy Speech, Samdech Akka Moha Sena Padei Techo Hun Sen, President of the Senate of Cambodia, emphasized that “To understand Cambodia’s perspective, it is crucial to understand the situations and experiences that Cambodia had gone through and comprehend what Cambodian leaders in general, not just myself, have sought to achieve for Cambodia. Our starting position comes from political, diplomatic and economic isolation, and Cambodia’s connection with ASEAN stems from this very isolation, namely the deep desire for equal recognition, equal rights, and the aspiration for full respect for our independence, sovereignty, and dignity as a nation in the region.”

In his opening remarks, Secretary-General of ASEAN, Dr. Kao Kim Hourn, acknowledged Samdech Hun Sen’s exemplary leadership in chairing ASEAN in 2002, 2012 and 2022, which led to great successes. SG Dr. Kao further emphasized that 2025 is a significant milestone for ASEAN, as it will see the adoption of the ASEAN Community Vision 2045 and its Strategic Plans. ‘’The work that Cambodia has contributed over the years has set a clear course for ASEAN’s future, and today’s policy speech by Samdech Techo Hun Sen offers us invaluable insights into Cambodia’s forward-looking vision for the future and its continuing active contributions to ASEAN’s growth, development, and success,’’ said SG Dr. Kao.

“This address presents a unique opportunity to learn from Samdech Techo Hun Sen’s strategic vision for steering ASEAN through an era of great uncertainty, profound turbulence, volatility and transformation. As we are all grappling with profound and dramatic shifts in world politics and economy, Samdech Techo Hun Sen’s experience – honed through multiple decades of navigating crises and shaping history – offers invaluable insights into the path ahead for both ASEAN and Cambodia. In times of change and uncertainty, such seasoned leadership and historical depth and insights are more crucial than ever,” concluded SG Dr. Kao.

Samdech Techo Hun Sen’s official visit to ASEAN Secretariat reaffirmed Cambodia’s steadfast dedication to deepening regional cooperation and actively contributing to ASEAN’s future direction. The official visit provided a platform for high-level discussions on critical regional issues and further solidified and strengthened relations, cooperation, and partnership between Cambodia and ASEAN.

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MIL OSI Economics –

May 6, 2025
MIL-OSI Russia: Special Report: China-Russia Humanitarian Exchanges Help Two Nations Bring People Closer and Know Each Other Better

Translation. Region: Russian Federal

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

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

BEIJING, May 5 (Xinhua) — From the Russian-Chinese joint film “Red Silk” that became a box office hit in Russia to the new version of the opera “Eugene Onegin” created by artists from both countries that debuted successfully in China; from the Chinese New Year celebration that “lit up” Moscow to the traditional Russian events held in many parts of China to celebrate Maslenitsa, humanitarian exchanges have become an important bridge for deepening China-Russia relations, enhancing mutual understanding between the two civilizations and promoting people-to-people exchanges.

2024-2025 have been declared the Years of Culture of China and Russia. As part of the years of culture, hundreds of events are being held in various regions of the two countries, which contribute to deepening friendship and bringing their peoples closer together.

LANGUAGE BRIDGES THE GAP

“My name is Maria. I am studying Chinese. Nice to meet you.” A young woman approached a reporter on the banks of the Moscow River in the Russian capital. After clarifying in Russian that the reporter was Chinese, she switched to Chinese to introduce herself.

Maria is a second-year law student at Moscow University and spends her free time studying Chinese language and culture. With a smile on her face, she admitted that she doesn’t speak Chinese well yet, but hopes to continue her studies. According to Maria, although Chinese is difficult, it sounds beautiful, and Chinese culture is very colorful and charming.

In recent years, Russia has seen a “Chinese language boom.” Now, on the streets of Moscow, you can increasingly hear friendly greetings in Chinese: “Nihao” /”Hello,” “Shi zhongguoren ma?” /”Are you from China?”/, “Huanyi,” /”Welcome,” “Zai jian” /”Goodbye,”… Seeing Asian facial features, many Russians begin to greet in Chinese.

“We have witnessed the popularization of Chinese culture and language: they are studied in schools, universities and at other educational levels,” says Ilya Gutin, senior lecturer at the Department of Chinese, Vietnamese, Burmese, Thai, Lao and Khmer Languages at MGIMO University of the Ministry of Foreign Affairs of Russia.

According to statistics, there are currently over 140 universities and over 220 primary and secondary schools offering Chinese language programs in Russia. There are also 19 Confucius Institutes and five Confucius Classrooms, as well as other additional educational institutions teaching Chinese. About 110,000 people in Russia study Chinese, and it has already become a second foreign language. In China, there are over 180 colleges and universities offering Russian language programs, and about 120,000 people study Russian in primary and secondary schools and universities.

At the same time, the two countries jointly established such cooperation projects as the Project of “10 Chinese and 10 Russian Outstanding Figures in Humanitarian Cooperation”, the Program for the Construction of Joint Chinese-Russian Scientific and Educational Centers, the Program for the Development of Chinese-Russian Associations of Specialized Universities. “Support was provided to universities in implementing joint educational programs, the scale of student exchanges between the two countries was expanded, summer schools for university students were jointly organized, cooperation in the field of professional education was carried out, which contributed to strengthening mutual understanding and friendship between young people.

“2024-2025, declared the cross years of culture between Russia and China, have opened up new opportunities for deepening cultural and educational ties,” said I. Gutin.

ART UNITES PEOPLE

The Chinese dance drama “Wing Chun: The Legend of the Kung Fu Master” was recently shown to great acclaim at the Bolshoi Theatre in Moscow. The fusion of Chinese kung fu and dance received thunderous applause, as well as wide attention and high praise from the Russian media.

According to Russian media, the dance performance “Wing Chun” is a story of heroes from the people based on the traditional martial art of Lingnan. The performance combines dance, martial arts and cinematic storytelling, telling the spiritual journey of Chinese kung fu to global recognition.

In recent years, the “Chinese wind” has been blowing in Russia. Chinese works such as the play “I Didn’t Kill My Husband,” the symphony “Ode to the Red Flag,” and the dance-poetic drama “Only This Greenery” have sparkled on Russian stages, demonstrating the unique charm of Chinese culture.

Meanwhile, a number of classic works of Russian art were presented on the stages of China. The ballets “Swan Lake”, “Sleeping Beauty”, “The Nutcracker” reflected the true “Russian aesthetics”. Theatrical, ballet and musical interpretations of such famous Russian literary works in China as “Anna Karenina” and “War and Peace” gave the audience an unforgettable experience. The Central Opera House of China and Russian artists presented a modern production of the world classic – the opera “Eugene Onegin”, breathing new life into the literary classic and emphasizing the strength of interaction between the cultures of China and Russia.

Wang Ning, director of the National Center for the Performing Arts of China, noted that many world-famous Russian art institutions have come to China to perform, which not only conveys the essence of Russian national culture to the Chinese audience, but also gives Russian artists the opportunity to feel and understand China.

“Artistic exchange, by influencing the eyes and ears, helps the people of the two countries gain an understanding of each other’s culture and become closer psychologically,” he concluded.

TOURISM STRENGTHENS FRIENDSHIP

“Going abroad for breakfast and coming back home” sounds almost unbelievable, but in the city of Heihe in northeastern China’s Heilongjiang Province, it has become routine.

Heihe is located across the river from Blagoveshchensk, the capital of Russia’s Amur region. With the resumption of visa-free group tours between China and Russia, “cross-border tourism” is rapidly gaining popularity. Every morning, many Russians head to Heihe in groups for the morning market, shopping, and tasting of Dongbei breakfast: youtiao (deep-fried dough sticks), soy milk, eggs boiled in seasoned tea, and egg burgers. They even came up with their own original breakfast — baozi (steamed buns) and beer.

“I just went to the dentist, bought some household goods, and now I’m going to have lunch at a restaurant. Ten minutes by boat and I’ll be home – very convenient,” says Ekaterina from Blagoveshchensk with a smile, adding that she often comes to Heihe, and although she doesn’t speak Chinese, there are signs in Russian in the city, and many vendors speak a little Russian.

In recent years, thanks to improved transport accessibility and visa relaxations, the number of Russian tourists in China has been steadily growing. Beijing, Guangzhou, Shanghai, Sanya, Chengdu, Qinhuangdao — the list of favorite tourist destinations for Russians in China is constantly expanding.

While Russian tourists enjoy the beauty and cuisine of China, Chinese travelers are increasingly discovering the vast expanses of Russia. According to the Association of Tour Operators of Russia /ATOR/, in 2024 the number of Chinese tourists in Russia reached 848 thousand people, which is 4.2 times more than in 2023. In addition to Moscow and St. Petersburg, the Chinese are increasingly choosing Murmansk, Novosibirsk, Irkutsk and other cities for travel.

To make the stay of Chinese tourists more comfortable, airports and major tourist attractions in a number of Russian cities have signs in Chinese, and popular restaurants have menus in Chinese. As part of the Years of Chinese and Russian Culture, Moscow has hosted the “Chinese New Year in Moscow” festival for two years in a row. A number of events were organized — theatrical performances, master classes, lectures, film screenings, and tea ceremonies.

“As part of the cross-years, it is planned to hold a series of cultural events in both countries. The festival in honor of the Chinese New Year will be the first in a series of events,” said Deputy Mayor of Moscow Natalya Sergunina. According to her, China is one of the promising areas for the development of tourism and partnership relations in general. “We expect that this year, thanks to joint programs, the mutual tourist flow will continue to grow,” said N. Sergunina.

At the same time, the Chinese cities of Beijing and Xi’an celebrated Maslenitsa: “Farewell to the Russian winter in China.” During the events, Chinese residents tried Russian pancakes and got acquainted with the traditions of folk festivities.

“We recently celebrated the Spring Festival in Moscow with our Chinese friends. It was not just a celebration, but a real celebration of culture and friendship,” said Boris Titov, Chairman of the Russian section of the Russian-Chinese Committee for Friendship, Peace and Development, noting that cross-cultural Years emphasize the importance of dialogue and mutual understanding between different cultural traditions, and also help to expand the horizons of mutual perception and respect. –0–

MIL OSI Russia News –

May 6, 2025
MIL-OSI Russia: Special Report: The People Will Never Forget – Chinese-Russian Friendship Passed Down from Generation to Generation

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

Moscow/Chongqing, May 5 (Xinhua) — The Yangtze River flows swiftly in Wanzhou District of Chongqing Municipality, southwest China, not far from the Three Gorges Dam. There is a quiet cemetery in the picturesque Xishan Park. Under the shade of pine and cypress trees, a white dove of peace spreads its wings on a marble tombstone, preparing to take off, while a fighter jet pierces the sky.

The monument is engraved with an inscription in Russian and Chinese: “Here lie the ashes of the commander of the Soviet volunteer air squadron, who died heroically in the war of the Chinese people against the Japanese invaders, Grigory Akimovich Kulishenko /1903-1939/. July 7, 1958.” A bronze bust of the hero is installed in front of the tombstone.

“When the war of resistance against the Japanese invaders was going on, Soviet Air Force Captain G. Kulishenko arrived in China to fight side by side with the Chinese people. “I am experiencing the misfortune of the Chinese workers as if I were experiencing the misfortune of my homeland,” he said with feeling. The pilot died heroically on Chinese soil. The Chinese people have not forgotten the hero, and ordinary Chinese people – mother and son – have been guarding his grave for more than half a century,” – during his visit to Russia in 2013, Chinese Chairman Xi Jinping told the story of G. Kulishenko with deep emotion, speaking at MGIMO.

Today, tall and majestic camphor trees grow around G. Kulishenko’s tombstone, planted by Chinese cemetery guardians many years ago.

“IT IS OUR DUTY”

After the Chinese People’s War of Resistance Against Japanese Aggression entered the phase of a conflict of attrition, Kulishenko and his colleagues led two squadrons of DB-3 heavy bombers (the pilots affectionately called them “Dasha”) to Chengdu. Liu Qun, who worked as a translator for Kulishenko at the time, wrote an article in which he recalled that this “heavenly warrior” had a simple face and a strong build, “slightly black hair, the color of the eyes like those of the Chinese, thick eyebrows and tall stature” and was somewhat similar to a Shandong resident (a resident of Shandong, one of the provinces of China – Xinhua note).

In addition to carrying out air strikes against the Japanese army, Kulishenko also had the important task of training Chinese pilots. Liu Qun says that before each flight, he would explain to each Chinese pilot the daily flight program, the aircraft control method, etc. Before sitting in the front cockpit, he would watch the other pilots sit in the control cabin and press the brake. Kulishenko also gave detailed comments after landing and sometimes flew three or four flights in a row as an instructor to correct mistakes. “I never saw him show the slightest impatience or fear of difficulties in front of the young pilots who were learning to fly,” Liu Qun writes.

On October 14, 1939, G. Kulishenko, leading a bomber group of the volunteer air force to aid China, raided the Japanese airfield in Hankou, causing heavy losses to the Japanese army. On the way back, he was intercepted by the enemy. The Soviet pilot received gunshot wounds to the chest and left shoulder. The enemy also hit one of the engines of his bomber. In order to protect the planes and people on the ground, G. Kulishenko refused to jump with a parachute and decided to make an emergency landing on the Yangtze in the Chenjiaba area of Wanxian County /now Wanzhou District of Chongqing – Xinhua note/. Two of his comrades swam to the shore, but the wounded Kulishenko was carried away by the current, and he died a heroic death.

Upon learning of this, the residents of Wanxian, without any agreement, set out to search along the river and 20 days later found the pilot’s body more than 10 kilometers from the crash site. They held a memorial service and a funeral according to Chinese custom.

In 1958, the Wanxian County People’s Government built a special cemetery for G. Kulishenko and ceremoniously reburied him. For more than 60 years, Chinese woman Tan Zhonghui took over as the grave’s caretaker, and her son Wei Yingxiang continued the work. “This is our duty, gratitude, and the conscience inherent in the Chinese people,” Wei Yingxiang said. He told reporters that his greatest wish is to ensure that the heroes buried in a foreign country are not alone, and that their heroic deeds and stories of friendship are passed down from generation to generation.

“THE PEACE MEDAL” – “THIS IS ONE OF THE MOST VALUABLE AWARDS FOR ME”

Nikolai Chuikov, the grandson of Soviet Marshal Vasily Chuikov, emotionally told journalists that he had heard many stories similar to that of Captain G. Kulishenko, and the Chinese people have always had deep feelings for the Soviet heroes buried on Chinese soil. According to him, the Soviet Union helped China fight the Japanese invaders, and China resolutely supported the USSR in the Great Patriotic War. The friendship that arose during the World Anti-Fascist War is a common heritage of both sides, our interlocutor is sure.

Marshal Vasily Chuikov had close ties to China. He had studied Chinese, was familiar with China’s national characteristics, and visited the country four times. From late 1940 to March 1942, he served as the chief Soviet military adviser in China. The Marshal was directly involved in developing the war plan against Japan and maintained close contacts with the commanders of the Eighth Army and the New Fourth Army, which operated under the CPC.

On the main battlefield of World War II in Asia, the Chinese people and army fought tenaciously against Japanese aggression, destroyed and tied up a large number of Japanese aggressor forces. With the sacrifice of 35 million lives, they finally won a great victory in the War of Resistance Against Japanese Aggression and made a great contribution to the victory of the World Anti-Fascist War.

N. Chuikov, 65, heard many stories about China from his grandfather as a child. For many years, he has been devoted to promoting good relations between Russia and China and is currently the deputy chairman of the Russian-Chinese Friendship Society. He has a medal that means a lot. In May 2015, during a visit to Russia, Chinese President Xi Jinping met with representatives of Russian veterans and presented them with commemorative medals. N. Chuikov was among them.

He called the Peace Medal the most valuable award for himself, as it was presented personally by the President of the People’s Republic of China Xi Jinping. Our interlocutor said that he is proud of the medal, which inspires him to work harder.

“The Chinese and Russian peoples have cemented a deep friendship with their blood and lives, laying a solid foundation for Chinese-Russian relations and friendship between the two peoples for generations,” Xi Jinping’s words at the meeting with veterans made a particularly deep impression on N. Chuikov. “This is also an important reason why relations between Russia and China remain at a high level,” he said.

In September 2015, he was invited to China to attend the commemorative celebration of the 70th anniversary of the victory of the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War. The grand military parade was amazing, and China impressed him with its national strength and pace of development, he said.

Speaking at the anniversary celebration, Xi Jinping said: “Let us firmly remember the great truth of history: Justice wins! Peace wins! The people win!”

It was unforgettable! – said N. Chuikov. – This is the voice of China, conveying to the world the need to adhere to justice, protect peace and cooperate.

UNDERSTAND HISTORY AND PASS ON FRIENDSHIP FROM GENERATION TO GENERATION

The fallen heroes “will never be forgotten by the Russian people, the Chinese people and the peoples of the world,” wrote Chinese President Xi Jinping in an opinion piece published in Rossiyskaya Gazeta 10 years ago, on the eve of his participation in the celebrations of the 70th anniversary of Victory in the Great Patriotic War and his visit to the Russian Federation.

Where they once shared a common hatred of the enemy and fought against aggression, the history of China and Russia fighting side by side touches people even in peacetime. Every Qingming Festival, Chinese people lay flowers at memorial sites in Nanjing, Wuhan, Chongqing, Changchun and elsewhere to show that they have not forgotten. The names of more than 200 Soviet pilot heroes who died resisting Japanese occupation are engraved on a monument in the Nanjing Pilots’ Memorial Hall. During this year’s festival, an elementary school student wrote in childish handwriting, “I want to be a pilot when I grow up,” while an 89-year-old man left a wish, “Peace in the world.”

“Thank you, Grandpa, for the Victory!” — read the banners on the streets of Moscow in May. This year marks the 80th anniversary of the victory in the World Anti-Fascist War. For Natalia Khryukina, chairwoman of the Association of Descendants of Volunteer Pilots Who Fought in China in 1937-40, the upcoming May 9 will have a special memorable significance.

Her father, Timofey Khryukin, was a bomber squadron commander in the Soviet Air Force volunteer squadron that helped China. He flew combat aircraft, fighting the Japanese in the skies over Nanjing, Wuhan, and other places. Returning to the USSR, he fought valiantly in the Great Patriotic War.

N. Khryukina said that her father described China’s terrain as difficult, with high mountains and numerous gorges. Flying a bomber in such conditions was a difficult test and valuable experience for Soviet pilots of that time. “When my father returned home and went to fight in the North, his Chinese experience was very useful to him,” she recalls.

According to our interlocutor, her generation grew up listening to songs such as “Russians and Chinese are brothers forever.” The friendship established by the Russian and Chinese peoples who fought side by side is still being passed down from generation to generation without weakening, N. Khryukina emphasized. With close interaction and under the strategic leadership of the leaders of the two countries, Russian-Chinese relations maintain a high level of development, she said.

In recent years, N. Khryukina has been collecting historical materials, organizing exchange events in primary and secondary schools, and inviting Chinese teenagers to communicate with their Russian peers. This gives young people the opportunity to understand the history of their ancestors’ persistent struggle, to understand the origins of friendship between Russia and China and to continue to pass it on from generation to generation, she is sure. –0–

MIL OSI Russia News –

May 6, 2025
MIL-OSI USA News: ICYMI: “Trump’s Tariffs Are Lifting Some U.S. Manufacturers”
Source: The White House
President Donald J. Trump’s relentless pursuit of an American manufacturing renaissance is “boosting demand for some U.S.-made goods, with smaller players reaping the early benefits,” writes The Wall Street Journal, as companies onshore production and buy their products in America.

Here are a few examples from the story:
- “‘We are swamped. We are running 24 hours a day, seven days a week in both Chicago and Cleveland,’ said Jack Schron, president of Jergens Inc., which makes manufacturing tools, including industrial screwdrivers, clamps and hoists. Schron said his factories in Ohio and Illinois are ‘going like gangbusters,’ partly owing to new orders from customers looking to avoid paying import tariffs.”
- “Donny Chaplin, president of Grand River Rubber & Plastics in Ashtabula, Ohio, said he has seen a rush of new inquiries and orders. Two previous customers that had switched to Chinese suppliers a few years ago came back in recent days wanting to buy rubber gaskets from Grand River again, for the plastic pails they manufacture. Three manufacturers of oil filters also got in touch, wanting to shift business from China, with two already placing orders. All together, the new business will be worth about $5 million a year if it is completed, or roughly 10% of Grand River’s revenue. That might require the company to hire new employees and expand production lines.”
- “The tariffs are a lifeline for the U.S. companies that sprang up during the Covid-19 pandemic to produce face masks, rubber gloves and other personal protective equipment, after shipments from Asia declined. The companies struggled in the pandemic’s aftermath, when hospitals and clinics abandoned U.S. manufacturers and returned to lower-cost suppliers in China, U.S. executives said. But new U.S. tariffs on rubber gloves from China have doubled the price from a few months ago, and ‘the folks that are relying on China are scrambling for other sources,’ said Alan Rust, chief growth officer for SafeSource Direct … ‘We were getting stiffed for a very long time, but just recently we’ve been getting a lot more inquiries.’”
- “Employees for Massachusetts-based AccuRounds are working overtime to accommodate rising orders for the company’s shafts, valves and other steel components. The company recently added two customers that had shifted business from AccuRounds to suppliers in Singapore and China in recent years. First-quarter sales were 20% higher from a year earlier, said Chief Executive Michael Tamasi.”
- “Michigan-based Whirlpool, which assembles 80% of its U.S. appliances at domestic factories, says its Asian competitors have had an unfair advantage, as they manufacture their appliances overseas but haven’t been paying import tariffs on them since 2023, when one imposed during Trump’s first term expired. Those rivals’ access to cheaper components and steel in Asia helps give them a $150 retail price advantage on washers, Whirlpool says. Chief Executive Marc Bitzer said the latest tariffs on imported assembled appliances should help close the price gap. ‘The tariffs will finally help create a level playing field for Whirlpool,’ he said in April during a call with analysts.”
Meanwhile, The Washington Post reports:
- “At the local Excel Dryer plant, William Gagnon, the chief operating officer, is unfazed. In fact, President Donald Trump’s import taxes so far have been nothing but good news for one of the world’s largest makers of restroom hand dryers. Gagnon, 48, credits Trump’s first-term tariffs with changing the math on production location decisions … the president’s second-term ‘reciprocal’ tariffs might result in the elimination of trade barriers that prevent Excel’s high-velocity hand dryers from dominating markets in countries such as Brazil and Australia … By making foreign goods more expensive, the import taxes make domestic suppliers more competitive while also discouraging Americans from purchasing cheap Chinese copies of Excel’s hand dryers. The tariffs also offer hope of prying open foreign markets … The tariffs Trump imposed on China this year also have brought more work home for one of Excel Dryer’s local suppliers: Double A Molding in Monson, Massachusetts … As Trump escalated his trade spat with China in recent weeks, Double A felt the effects.”
MIL OSI USA News –
May 6, 2025
MIL-OSI: ASM share buyback update April 30 – May 2, 2025

Source: GlobeNewswire (MIL-OSI)

Almere, The Netherlands
May 5, 2025, 5:45 p.m. CET

ASM International N.V. (Euronext Amsterdam: ASM) reports the following transactions, conducted under ASM’s current share buyback program.

Date Repurchased shares Average price Repurchased value

April 30, 2025 4,177 € 423.50 € 1,768,960

May 2, 2025 3,754 € 442.03 € 1,659,386

Total 7,931 € 432.27 € 3,428,346

These repurchases were made as part of the €150 million share buyback program which started on April 30, 2025. Of the total program, 2.3% has been repurchased. For further details including individual transaction information please visit: www.asm.com/investors/dividends-share-buybacks.

About ASM International
ASM International N.V., headquartered in Almere, the Netherlands, and its subsidiaries design and manufacture equipment and process solutions to produce semiconductor devices for wafer processing, and have facilities in the United States, Europe, and Asia. ASM International’s common stock trades on the Euronext Amsterdam Stock Exchange (symbol: ASM). For more information, visit ASM’s website at www.asm.com. This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

Contact

Investor and media relations

Victor Bareño
T: +31 88 100 8500
E: investor.relations@asm.com

Investor relations

Valentina Fantigrossi
T: +31 88 100 8502
E: investor.relations@asm.com

The MIL Network –

May 6, 2025

MIL-OSI: Coface : Coface records a good start to the year with net income of €62.1m, for an RoATE of 12.7%

Source: GlobeNewswire (MIL-OSI)

Coface records a good start to the year with net income of €62.1m, for an RoATE of 12.7%

Paris, 5 May 2025 – 17.35

Turnover: €473m, up 2.0% at constant FX and perimeter
- Trade credit insurance revenue up 1.2%; client activity also increased by 1.2%
- Client retention back up at near-record (95.0%); pricing remained negative (-1.3%) in line with historical trends
- Business information growing again double-digit (+14.7% at constant FX, +18.4% at current FX). Debt collection up +14.8%; factoring was down slightly by -0.7%
Net loss ratio at 39.1%, up by 3.3 ppts; net combined ratio at 68.7%, up by 5.6 ppts and stable compared to Q4-24
- Gross loss ratio at 38.7%, up by 5.5 ppts with higher opening year reserving and reserve releases stable at a high level year on year
- Net cost ratio increased 2.2 ppts to 29.5%, reflecting continued investments partially offset by better product mix
Net income (group share) at €62.1m, down by -9.2% compared to Q1-24
Annualised RoATE¹at 12.7%

Unless otherwise indicated, change comparisons refer to the results as at 31 March 2024

Xavier Durand, Coface’s Chief Executive Officer, commented:
“With a net income of €62.1m and an RoATE of 12.7%, Coface posted another quarter of solid results in a highly volatile environment. Shifting US policy on international trade is creating a high level of uncertainty, although its potential consequences are not yet visible. In this complicated environment for corporates, Coface remains very close to its clients and is maintaining a highly preventative stance in its risk portfolio which is well diversified across regions and sectors.
In the medium term, depending on their actual implementation and level, the announced tariffs may have a negative impact on global trade volumes. We may also see prices increase in the United States and an adverse impact on certain industrial sectors and regions, likely leading to higher numbers of business failures.
Thanks to its leading infrastructure, the quality of its information and its teams of internationally recognised experts, Coface is well positioned to support its clients in managing their risks.
Against this backdrop, our strategy to invest in better understanding short-term risks and in the strengthening of our range of services (Business Information, Debt Collection) is more relevant than ever and resolutely pursued.”

Key figures at 31 March 2025

The Board of Directors of COFACE SA examined the summary consolidated financial statements for the first three months (non-audited) during its meeting on 5 May 2025. The Audit Committee at its meeting on 2 May 2025 also previously reviewed them.

Income statement items in €m	Q1-24	Q1-25	Variation	% ex. FX*
Insurance revenue	378.6	382.9	+1.1%	+1.2%
Other revenue	85.0	90.3	+6.2%	+5.5%
REVENUE	463.7	473.2	+2.1%	+2.0%
UNDERWRITING INCOME/LOSS AFTER REINSURANCE	100.3	85.4	(14.9)%	(15.4)%
Investment income, net of management expenses, excluding finance costs	17.9	10.4	(42.0)%	(44.2)%
Insurance Finance Expenses	(11.4)	(4.1)	(63.6)%	(61.6)%
CURRENT OPERATING INCOME	106.8	91.6	(14.2)%	(15.3)%
Other operating income / expenses	(0.1)	(0.4)	+438.8%	+439.8%
OPERATING INCOME	106.8	91.2	(14.5)%	(15.6)%
NET INCOME (GROUP SHARE)	68.4	62.1	(9.2)%	(10.5)%

Key ratios	Q1-24	Q1-25	Variation
Loss ratio net of reinsurance	35.8%	39.1%	3.4	ppts
Cost ratio net of reinsurance	27.3%	29.5%	2.2	ppts
COMBINED RATIO NET OF REINSURANCE	63.1%	68.7%	5.6	ppts

Balance sheet items in €m	2024	Q1-25	Variation
Total equity (group share)	2,193.6	2,234.0	+1.8%

* Also excludes scope impact

1. Turnover

Coface recorded consolidated turnover of €473.2m, up +2.0% at constant FX and perimeter compared to Q1-24. As reported (at current FX and perimeter), turnover rose +2.1%.

Revenues from insurance activities (including Bonding and Single Risk) increased by +1.2% at constant FX and perimeter. Client retention returned to a level close to its record high at 95.0% in a still competitive market. New business totalled €37m, stable compared with Q1-24. This was driven by an increase in demand and growth investments, particularly in the mid-market segment.

Growth in client activity was positive at 1.2%, marking a further improvement compared to the already positive previous quarter. However, this level reflects the economic environment that prevailed before the tariff announcements by the United States. The price effect remained negative at -1.3% in Q1-25, in line with last year and long-term trends.

Turnover from non-insurance activities was up +7.5% compared to Q1-24. However, not all business lines enjoyed the same momentum. Factoring turnover fell by -0.7%, with Germany and Poland recording identical performance. Business Information turnover continued to grow, rising +14.8% (and +18.4% on a reported basis). Fee and commission income (debt collection commissions) increased +14.8% due to the increase in claims to be collected. Commissions were up +4.0%, exceeding growth in premium income.

Total revenue – in €m (by country of invoicing)	Q1-24	Q1-25	Variation	% ex. FX²
Northern Europe	97.8	97.0	(0.8)%	(0.8)%
Western Europe	91.7	96.0	+4.7%	+1.9%
Central & Eastern Europe	45.1	42.3	(6.3)%	(6.9)%
Mediterranean & Africa	138.9	143.4	+3.2%	+5.1%
North America	42.6	43.5	+2.0%	+1.5%
Latin America	18.6	20.4	+9.7%	+16.0%
Asia-Pacific	28.9	30.7	+6.2%	+2.7%
Total Group	463.7	473.2	+2.1%	+2.0%

In Northern Europe, turnover was down by -0.8% at constant and current FX. The region continues to suffer from the weakness of the German economy. This slight decline was partially offset by growth in non-insurance activities. Factoring turnover was down -0.7% but services were up +17.8%.

In Western Europe, turnover increased +1.9% at constant FX (+4.7% at current FX). The loss of several significant contracts was more than offset by growth in service activities.

In Central and Eastern Europe, turnover fell -6.9% at constant FX (-6.3% at current FX) due to client activity, which continued to drag down credit insurance, and a significant contract that is now included in another region.

In the Mediterranean and Africa region, which is driven by Italy and Spain, turnover rose +5.1% at constant FX and +3.2% at current FX on the back of robust sales in credit insurance and services and a generally stronger economic environment.

In North America, turnover rose by +1.5% at constant FX and +2.0% on a reported basis. The region benefited from a slight improvement in client activity and higher retention.

In Latin America, turnover increased +16.0% at constant FX and +9.7% at current FX. The region is benefiting from continued high inflation, which is benefiting client activity.

In Asia-Pacific, turnover increased +2.7% at constant FX and +6.2% at current FX. The region is benefiting from high retention and a slight increase in client activity.

2. Result

Combined ratio

The combined ratio net of reinsurance stood at 68.7% for Q1-25, an increase of 5.6 ppts year on year but flat compared to the previous quarter.

(i) Loss ratio

The gross loss ratio stood at 38.7%, up 5.5 ppts compared to the previous year. This increase reflects the normalisation of the loss experience offset by high but stable reserve releases compared to the previous year. The number of mid-sized claims was below long-term trends but is increasing.

The Group’s provisioning policy remained unchanged. The amount of provisions related to the underwriting year, although discounted, remained in line with the historical average. Strict management of past claims enabled the Group to record 43.6 ppts of recoveries.

The net loss ratio increased to 39.1%, up 3.3 ppts compared to Q1-24, with reinsurance absorbing part of the deterioration in the gross loss ratio.

(ii) Cost ratio

Coface is pursuing a strict cost management policy while maintaining its investments, in line with the Power the Core strategic plan. In Q1-25, costs rose by +5.7% at constant FX and perimeter, and +5.9% at current FX.

The cost ratio net of reinsurance was 29.5% in Q1-25, up 2.2 ppts year on year. This increase was mainly due to cost inflation (+1.4 ppt) and continued investment (+2.9 ppts). In contrast, the improved product mix (Business Information, Debt Collection and fee and commission income) had a positive effect of 2.6 ppts. The change in reinsurance commissions explains most of the remainder.

Financial result

Net financial income was €10.4m in the first quarter. This amount includes an FX effect of -€12.4m, mostly due to the application of IAS 29 (Hyperinflation) mainly in Turkey for €4.5m.

The portfolio’s current yield (i.e. excluding capital gains, depreciation and FX) was €24.9m. The accounting yield³, excluding capital gains and fair value effect, was 0.7% in Q1-25. The yield on new investments was 3.8%.

Insurance Finance Expenses (IFE) stood at €4.1m for the first quarter. Outside of FX gains, the amount is very similar to that of previous quarters.

Operating income and net income

Operating income amounted to €91.2m in Q1-25, down 14.5%.

The effective tax rate was 23% for the quarter (vs. 27% in Q1-24).

In total, net income (group share) was €62.1m, down 9.2% compared to the first quarter of 2024.

3. Shareholders’ equity

At 31 March 2025, Group shareholders’ equity stood at €2,234.0m, up €40.4m or +1.8% (€2,193.6m at 31 December 2024).

This increase is mainly due to positive net income of €62.1m and an FX effect.

The annualised return on average tangible equity (RoATE) was 12.7% at 31 March 2025, down from the previous year, in line with the decline in net income.

4. Outlook

Uncertainty about international economic policy is reaching a rarely seen levels. The United States announced the implementation of massive tariffs which vary depending on industrial sector and the imports’ country of origin. Implementation has been delayed in most cases to allow time for negotiations.

Estimates of the long-term impact will have to wait until the tariffs actually implemented are more stable. In the short term, this uncertainty is delaying investment decisions and detracting from economic growth.

This unprecedented complex environment validates the strategy and positioning adopted by Coface, which draws on its internationally recognised experts and industry leading data to support its clients as effectively as possible as the situation evolves. In the short term, Coface has stepped up communication with its clients and maintained its prevention actions at a high level, while continuing to invest in line with the Power the Core strategic plan. The workforce dedicated to services (Business Information and Debt Collection) currently stands at nearly 700 people.

Conference call for financial analysts

Coface’s Q1-2025 results will be discussed with financial analysts during the conference call on Monday 5 May at 18:00 (Paris time). Dial one of the following numbers:

The presentation will be available (in English only) at the following address:
http://www.coface.com/Investors/financial-results-and-reports

Appendices

Quarterly results

Income statement items in €m Quarterly figures	Q1-24	Q2-24	Q3-24	Q4-24	Q1-25	%	% ex. FX*
Insurance revenue	378.6	375.6	375.9	382.7	382.9	+1.1%	+1.2%
Other revenue	85.0	83.4	78.0	85.5	90.3	+6.2%	+5.5%
REVENUE	463.7	459.1	453.8	468.3	473.2	+2.1%	+2.0%
UNDERWRITING INCOME (LOSS) AFTER REINSURANCE	100.3	94.7	88.8	84.9	85.4	(14.9)%	(15.4)%
Investment income, net of management expenses, excluding finance costs	17.9	22.8	19.0	31.9	10.4	(42.0)%	(44.2)%
Insurance Finance Expenses	(11.4)	(6.7)	(7.3)	(17.1)	(4.1)	(63.6)%	(61.6)%
CURRENT OPERATING INCOME	106.8	110.9	100.5	99.7	91.6	(14.2)%	(15.3)%
Other operating income / expenses	(0.1)	(0.5)	(2.6)	(5.5)	(0.4)	438.8%	439.8%
OPERATING INCOME	106.8	110.4	97.9	94.2	91.2	(14.5)%	(15.6)%
NET INCOME (GROUP SHARE)	68.4	73.8	65.4	53.4	62.1	(9.2)%	(10.5)%
Income tax rate	27.2%	26.8%	25.5%	36.2%	23.0%	(4.2) ppt

Cumulated results

Income statement items in €m Cumulated figures	Q1-24	H1-24	9M-24	2024	Q1-25	%	% ex. FX*
Insurance revenue	378.6	754.3	1,130.2	1,512.9	382.9	+1.1%	+1.2%
Other revenue	85.0	168.5	246.4	331.9	90.3	+6.2%	+5.5%
REVENUE	463.7	922.7	1,376.6	1,844.8	473.2	+2.1%	+2.0%
UNDERWRITING INCOME (LOSS) AFTER REINSURANCE	100.3	195.0	283.8	368.7	85.4	(14.9)%	(15.4)%
Investment income, net of management expenses, excluding finance costs	17.9	40.8	59.8	91.7	10.4	(42.0)%	(44.2)%
Insurance Finance Expenses	(11.4)	(18.1)	(25.4)	(42.5)	(4.1)	(63.6)%	(61.6)%
CURRENT OPERATING INCOME	106.8	217.7	318.2	417.9	91.6	(14.2)%	(15.3)%
Other operating income / expenses	(0.1)	(0.5)	(3.1)	(8.6)	(0.4)	438.8%	439.8%
OPERATING INCOME	106.8	217.2	315.1	409.2	91.2	(14.5)%	(15.6)%
NET INCOME (GROUP SHARE)	68.4	142.3	207.7	261.1	62.1	(9.2)%	(10.5)%
Income tax rate	27.2%	27.0%	26.5%	28.7%	23.0%	(4.2) ppt

* Also excludes scope impact

CONTACTS

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

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

FINANCIAL CALENDAR 2025
(subject to change)

Annual General Shareholders’ Meeting: 14 May 2025
H1-2025 results: 31 July 2025 (after market close)
9M-2025 results: 3 November 2025 (after market close)

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

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

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

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

www.coface.com

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

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

1 Return on average tangible equity
2 Also excludes scope impact
3 Book yield calculated on the average of the investment portfolio excluding non-consolidated subsidiaries.

Attachment

2025 05 05 PR results Q1-2025 COFACE

The MIL Network –

May 6, 2025

MIL-OSI USA: Warren, Senate Democrats Demand Trump Defense Department Nominee Withdraw, Explain Attacks on Military Leaders, Calls to Use Military Against Civilians
US Senate News:
Source: United States Senator for Massachusetts – Elizabeth Warren

May 05, 2025

General Tata has a record of bigoted remarks and conspiracy theories, which originally sank his nomination to a top Pentagon role in 2020

Text of Letter (PDF)

Washington, D.C. — U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Armed Services Subcommittee on Personnel, led six Senate Democrats in calling for retired Brigadier General Anthony Tata, nominee for Under Secretary of Defense for Personnel and Readiness (USD[P&R]), to withdraw his nomination and explain his past attacks on military leaders and calls to politicize the military.

Senators Cory Booker (D-N.J.), Tammy Duckworth (D-Ill.), Mazie Hirono (D-Hawaii), Jeff Merkley (D-Ore.), Bernie Sanders (I-Vt.), and Chris Van Hollen (D-Md.) joined in signing the letter. Senators Duckworth and Hirono are also members of the Senate Armed Services Subcommittee on Personnel.

“Given your history related to DoD personnel and other matters, we are concerned that, if confirmed, you will not be able to effectively support servicemembers and their families, risking the military’s ability to recruit and retain personnel and undermining military readiness,” wrote the senators.

In 2020, Tata was nominated for Under Secretary of Defense for Policy, the third-highest-ranking DoD official. His nomination fell apart after reports revealed several bigoted and false remarks, including calling President Obama a “terrorist leader,” and the Army watchdog found he violated the Uniform Code of Military Justice by committing adultery. Senator Warren led the call for him to withdraw his nomination and resign his position as a senior advisor to the Defense Secretary.

Now, the senators are pressing him to withdraw and explain more recent comments, including
- Calling for a purge of senior military leaders, including “every 4 star appointed by Biden,” and
- Calling for politicizing the military by choosing leaders who are “[a]ll oars in the water to achieve Trump agenda 47” and suspending a law that prevents the military from being used against the American people.
“These comments are especially disturbing given the destructive actions the DoD has already taken with regard to servicemembers and civilians,” said the senators in reference to the Pentagon’s recent elimination of diversity, equity, and inclusion, along with attacks on female military heroes and military heroes of color.

If confirmed, Tata would be responsible for establishing, implementing, and overseeing policies and recruitment impacting millions of servicemembers, civilian employees, and their families.

“Given your past disparaging remarks about servicemembers, and your history of inappropriate activity we are concerned that, if confirmed, you will not be able to effectively support servicemembers and their families, risking the military’s ability to recruit and retain personnel and undermining military readiness… We urge you to withdraw your nomination,” concluded the lawmakers.

The senators asked Tata, should he choose to not withdraw his nomination, to clarify, by May 12, 2025, his past bigoted remarks, conspiracy theories, calls to politicize the military, views on transgender people and women serving in the military, and make ethics commitments related to 4Ever Charge, an EV charging station franchise for which he currently serves as the director.
MIL OSI USA News –
May 6, 2025
MIL-OSI United Nations: Secretary-General’s press encounter on India and Pakistan

Source: United Nations secretary general

Tensions between India and Pakistan are at their highest in years.
I deeply respect and am profoundly grateful to the Government and people of both countries — and their significant contributions to the work of the United Nations, not least UN peacekeeping.
And so it pains me to see relations reaching a boiling point.
I understand the raw feelings following the awful terror attack in Pahalgam on 22 April.
I once again strongly condemn that attack and extend my condolences to the families of the victims.

MIL OSI United Nations News –

May 6, 2025
MIL-OSI Asia-Pac: Bun festival attracts huge crowds

Source: Hong Kong Information Services

The finale of the Cheung Chau Bun Festival took place today, with thousands of Hongkongers and tourists heading to the island to experience its unique traditions first-hand.

Highlights included a colourful Grand Parade, and – later in the evening – the finals of the Bun Scrambling Competition.

Afternoon crowds were captivated by the parade, which set off from Pak Tai Temple Playground. It featured children, many dressed as deities, being carried aloft on steel frames, in addition to traditional lion dances.

The festival culminated with the finals of the annual Bun Scrambling Competition, with 12 competitors scaling a bamboo tower and attempting to snatch buns attached to it.

MIL OSI Asia Pacific News –

May 6, 2025
MIL-OSI USA: SBA Relief Still Available to Ohio Small Businesses and Private Nonprofits Affected by September Drought

Source: United States Small Business Administration

ATLANTA – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Ohio of the June 2 deadline to apply for low interest federal disaster loans to offset economic losses caused by the drought beginning Sept. 24, 2024.

The disaster declaration covers the Ohio counties of Adams, Brown, Butler, Clermont, Clinton, Coshocton, Guernsey, Hamilton, Highland, Holmes, Knox, Licking, Montgomery, Muskingum, Pike, Preble, Scioto, Tuscarawas and Warren and Dearborn, Franklin, and Union in Indiana as well as Boone, Bracken, Campbell, Kenton, Lewis, Mason, and Pendleton in Kentucky.

Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

“Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.” 

The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

To apply online visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

The deadline to return economic injury applications is June 2, 2025.

###

About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

MIL OSI USA News –

May 6, 2025
MIL-OSI: BexBack Launches High-Leverage Crypto Trading With No KYC, Double Deposit Bonus, and $50 Welcome Bonus
Source: GlobeNewswire (MIL-OSI)

SINGAPORE, May 05, 2025 (GLOBE NEWSWIRE) — As the cryptocurrency market reaches new levels of global adoption, BexBack, a fast-growing digital asset derivatives exchange, is redefining the future of leveraged trading. The platform now offers up to 100x leverage, no KYC requirement, a 100% deposit bonus, and a $50 welcome bonus to empower traders across the world.

Launched in May 2024 and headquartered in Singapore, BexBack has quickly attracted over 500,000 users across more than 200 countries, with strong adoption in the United States, Canada, and Europe. Its commitment to transparency, security, and performance has positioned it as one of the most promising platforms in the crypto derivatives space.

“We believe trading should be fast, secure, and accessible to everyone,” said Amanda, Business Manager at BexBack. “By removing entry barriers like KYC and providing strong financial incentives, we’re helping users seize market opportunities without compromise.”

Key Features of BexBack:
- No KYC Required: Users can start trading instantly while maintaining privacy.
- 100x Leverage: Maximize capital efficiency across BTC, ETH, ADA, SOL, XRP and 50+ other crypto futures.
- $50 Welcome Bonus: Earned after a deposit of at least 0.001 BTC or 100 USDT and completing the first trade.
- 100% Deposit Bonus: Double your trading capital up to 10 BTC; bonus usable as margin
- Zero Deposit Fees: Move funds without friction.
- Advanced Security: Protected by multi-signature cold wallets, distributed servers, and DDoS prevention.
- Regulatory Compliance: BexBack is a registered MSB under U.S. FinCEN, ensuring a compliant trading environment.
- Global Access & 24/7 Support: Available to traders worldwide with round-the-clock assistance.
Driving the Future of Crypto Trading

BexBack’s mission is to democratize access to high-performance trading tools and provide a level playing field for retail traders. The platform offers a demo account with 10 BTC and 1M USDT in virtual funds, ideal for beginners to gain experience before committing real capital.

As global economic uncertainty and market volatility continue, leveraged futures have become a critical strategy for traders seeking greater flexibility and profit potential. BexBack meets this demand with institutional-grade tools designed for all skill levels.

Start Trading Today

Traders interested in joining the BexBack community can sign up at www.bexback.com, make their first deposit, and begin trading with up to 100x leverage—no KYC, no barriers.

Website: www.bexback.com

Contact: business@bexback.com

Contact:
Amanda
business@bexback.com

Disclaimer: This content is provided by BexBack. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.

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Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

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The MIL Network –
May 6, 2025
MIL-OSI: Best Online Casinos Australia: 7Bit Casino Rated as Top Real Money Casino 2025
Source: GlobeNewswire (MIL-OSI)

PERTH, Australia, May 05, 2025 (GLOBE NEWSWIRE) — The online gambling scene in Australia is booming, with a surge in players seeking the thrill of real money online casino Australia platforms. However, the abundance of options makes choosing the best online casino in Australia a challenge. Our team of experts meticulously evaluated hundreds of Australian gambling sites, assessing factors like licensing, security, game variety, bonuses, payout speeds, and customer support.

After rigorous testing, 7Bit Casino emerged as the clear leader, earning its place as the best Australian online casino for 2025.

TRY 7BIT CASINO TODAY AND SEE FOR YOURSELF!

This comprehensive review explores why 7Bit Casino is ranked as the top online casino in Australia, detailing its standout features, bonuses, games, payment methods, and commitment to responsible gambling. Whether you’re spinning the best payout online slots or strategizing at live dealer tables, 7Bit ensures a seamless Aussie online casino experience tailored for Australian players.

A Closer Look at the Best Online Casino Australia: 7Bit Casino

7Bit Casino has solidified its position as the best online casino in Australia through a decade of excellence in online gambling. Operating under a Curacao eGaming license, it provides a secure and regulated environment, making it a trusted Australian real money casino. The platform’s support for cryptocurrencies, including Bitcoin and Ethereum, enables instant withdrawal of casino transactions, a key draw for players seeking fast payout online casino services.

With over 10,000 games from top providers like NetEnt, Microgaming, and Evolution Gaming, 7Bit caters to every gaming preference, from slots to live dealer experiences. Its no-KYC policy for crypto users ensures privacy, aligning with the preferences of Australian players who value anonymity. The mobile-optimized platform and 24/7 multilingual support further enhance its appeal as a top online casino destination.

7Bit Casino – Our Favorite Aussie Online Casino

7Bit Casino stands out as our favorite Aussie online casino due to its exceptional blend of features tailored for Australian players. The website’s intuitive design ensures easy navigation, allowing players to quickly access games, promotions, and banking options. This user-friendly interface is complemented by a vibrant, modern aesthetic that enhances the gaming experience.

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For Australian players, 7Bit offers localized payment options, including Pay ID, credit cards, and cryptocurrencies, ensuring seamless online casino real money transactions. The casino’s instant cashout capabilities, particularly for crypto withdrawals, allow players to access winnings in minutes, setting it apart as the fastest payout online casino.

Customer support is available 24/7 via live chat and email, with a responsive team ready to address queries about best online casino payouts or account issues. The inclusion of demo modes for games allows players to try titles risk-free, a feature that resonates with both new and seasoned gamblers at this best Australian casino.

Pros and Cons of 7Bit Casino

Pros:
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- 24/7 Support: Multilingual assistance for online casino Australia queries.
Cons:
- High Wagering Requirements: Some bonuses require 40x wagering, challenging for casual players.
- Slot-Specific Promotions: Limited bonuses for table games, reducing flexibility.
How to Join 7Bit Casino – The Best Online Casino Australia

Joining 7Bit Casino, the best online casino Australia, is a simple process designed for Australian players:
1. Visit 7Bit Casino: Click Here To Navigate To 7Bit Casino.
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Ensure accurate details to avoid issues, and verify promo codes to secure the top online casino Australia bonus.

How We Selected 7Bit as the Best Online Casino in Australia

Selecting the best online casino Australia for 2025 required an exhaustive and methodical evaluation process to guarantee a safe, rewarding, and enjoyable experience for Australian players.

Our team of online gambling experts analyzed over 50 Australian gambling sites, focusing on a comprehensive set of criteria to identify the top online casino in Australia that meets the diverse needs of the Australian gaming community. This rigorous approach ensured that 7Bit Casino emerged as the best Australian online casino, outperforming competitors through its exceptional performance across all evaluated metrics.

Licensing and Regulation

A cornerstone of any Aussie online casino is its licensing and regulatory compliance, which ensures fair play and player protection. We verified that 7Bit Casino operates under a Curacao eGaming license, a globally recognized authority that enforces strict standards for online casino Australia operations.

This license mandates regular audits, fair game outcomes, and robust data protection measures, including SSL encryption to safeguard player information. For Australian players, this level of security is critical, as it builds trust in a real-money online casino Australia platform. We also cross-checked compliance with international gambling laws to ensure 7Bit aligns with global best practices, solidifying its status as a best online casino Australia real money option.

Bonuses and Promotions

Bonuses and promotions are vital for enhancing the gaming experience at the best online casino in Australia, offering players extra value and increased winning opportunities. We meticulously assessed 7Bit Casino’s offerings, prioritizing its standout 325% welcome bonus up to 5.25 BTC plus 250 free spins spread across the first four deposits.

This generous package, combined with no-wager free spins on select games, positions 7Bit as a leader among top online casinos Australia. We also evaluated ongoing promotions, such as weekly cashback up to 20%, reload bonuses, and exclusive offers like the Telegram Friday deal (111 free spins), ensuring consistent rewards for online casino Australia real money players. The transparency of terms, though with a 40x wagering requirement, was weighed against competitors’ offers to confirm 7Bit’s superiority.

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Game Variety

A diverse and high-quality game selection is essential for the best Australian casino to cater to all player preferences. We evaluated 7Bit Casino’s library of over 10,000 games, ranging from best payout online slots to live dealer tables and instant win titles. This extensive variety, including niche options like keno and bingo, ensures that every Australian real money casino enthusiast finds something appealing.

We tested the platform’s ability to deliver fresh content through regular updates, such as new releases from top providers, keeping the online casino Australia experience engaging. Compared to other Australian online casino platforms with fewer titles, 7Bit’s breadth and depth set a new benchmark for top online casinos in Australia.

Game Providers

The quality of games at the best online casino Australia heavily depends on its partnerships with reputable game providers. We confirmed that 7Bit Casino collaborates with industry giants like NetEnt, Microgaming, Betsoft, and Evolution Gaming, known for their high-definition graphics, innovative features, and provably fair algorithms.

These providers ensure smooth gameplay and reliable outcomes, enhancing the online casinos that pay real money. We analyzed the RTP (Return to Player) rates and volatility of games, noting that titles like Starburst (96.09% RTP) offer competitive returns for best Australian online casino players. This rigorous vetting process underscored 7Bit’s commitment to quality gaming.

Payment Methods

Fast, secure, and flexible payment options are a priority for real money online casino Australia players. We conducted in-depth tests of 7Bit Casino’s transaction speeds, focusing on its instant withdrawal casino capabilities with cryptocurrencies like Bitcoin and Ethereum, which process withdrawals in under 10 minutes.

We also assessed traditional methods like Pay ID, Visa, and bank transfers, noting instant deposits and withdrawal times ranging from 1-3 days for cards and 3-5 days for transfers. The absence of fees for crypto transactions and minimal limits ($20 minimum, $4,000 maximum) make 7Bit a fast withdrawal casino leader. This versatility caters to the preferences of Aussie online casino users seeking convenience and privacy.

Customer Support

Reliable customer support is a hallmark of a top online casino Australia, ensuring players receive assistance promptly. We evaluated 7Bit Casino’s 24/7 support through live chat and email, simulating common queries about best online casino payouts and account issues.

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User Experience

A seamless user experience, including site design and mobile compatibility, is crucial for the best Australian casino. We tested 7Bit Casino’s responsive interface across desktops, iOS, and Android devices, noting fast load times and touch-optimized navigation.

The mobile platform supports all 10,000+ games, enabling online casino Australia players to enjoy the best online casinos Australia real money gaming on the go. Filters for game types and providers, along with a dark-themed aesthetic, improve usability, making 7Bit a standout online casino Australia option. Its performance exceeded competitors with less optimized mobile offerings.

7Bit Casino excelled across these criteria, earning its title as the best online casino Australia for 2025 due to its unmatched combination of security, rewards, and player satisfaction.

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Best Online Casino Australia Games at 7Bit Casino

7Bit Casino boasts an impressive collection of over 10,000 games, establishing it as the best online casino Australia for variety and entertainment. This extensive library caters to all Australian real money casino players, from novices to seasoned gamblers, with options that blend luck, skill, and instant gratification. The platform’s commitment to regular updates ensures a fresh online casino Australia real money experience, supported by top-tier providers and high RTP rates.

Online Slots

The slot category features over 7,000 titles, making 7Bit a leader among top online casinos Australia for slot enthusiasts. Popular games include Starburst (96.09% RTP) with its vibrant gems and re-spin feature, and Mega Moolah, known for its multi-million-dollar jackpots. Other highlights include Gonzo’s Quest (95.97% RTP) with avalanche wins and Book of Dead (96.21% RTP), offering Egyptian-themed adventure.

These best payout online slots come with bonus rounds, free spins, and multipliers, appealing to best Australian casino players seeking big wins. The variety spans classic 3-reel machines to modern 5-reel video slots, ensuring broad appeal.

Blackjack

With 162 blackjack variants, 7Bit Casino offers a strategic haven for online casino Australia real money players. Options include Classic Blackjack, Multi-Hand Blackjack (up to five hands), and live dealer versions from Evolution Gaming.

The game’s blend of luck and skill, with a house edge as low as 0.5% in optimal play, attracts Australian gambling site users. Variants like Double Exposure and Spanish 21 add unique twists, while live tables provide real-time interaction, enhancing the best online casino Australia experience.

Roulette

The roulette section features 113 versions, catering to Aussie online casino fans of chance-based gaming. Players can choose European Roulette (2.7% house edge), American Roulette (5.26% edge), or innovative options like Lightning Roulette with boosted payouts. Live dealer tables from Evolution Gaming allow betting on red/black, odd/even, or specific numbers, with real-time streams adding immersion. This diversity makes 7Bit a top online casinos Australia choice for roulette lovers.

Poker

With 108 poker options, 7Bit Casino serves best Australian online casino players who enjoy skill-based gaming. Variants include Texas Hold’em, Omaha, Caribbean Stud, and video poker titles like Jacks or Better (99.54% RTP). Live poker tables offer competitive play against dealers, while the no-KYC feature speeds up access for online casinos that pay real money enthusiasts. This range caters to both casual and serious Australian real money casino players.

Live Dealer Games

7Bit’s live dealer section, powered by Evolution Gaming, brings the best online casino Australia experience home with real-time streams of blackjack, roulette, baccarat, and game shows like Dream Catcher. Featuring professional dealers and interactive chat, these games replicate the atmosphere of a physical casino. With high-definition video and multiple camera angles, 7Bit stands out as the Australian online casino leader in live gaming.

Instant Win Games

The 279 instant win titles, including Aviator, Plinko, and Crash, offer quick online casinos that pay real money opportunities. These games, with simple mechanics and fast payouts, appeal to players seeking instant gratification at the best Australian casino. High RTP rates and low minimum bets make them accessible, enhancing 7Bit’s reputation as a top online casino Australia.

Best Australian Online Casino Payment Methods

7Bit Casino provides a robust suite of payment methods, ensuring flexibility and speed for online casino Australia real money transactions. As a top online casino in Australia, it caters to Australian players’ preferences with options ranging from cryptocurrencies to traditional banking, all optimized for instant withdrawal casino efficiency.

Cryptocurrencies

7Bit supports 17 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Dogecoin, Tether, Ripple, and Binance Coin, making it a fast withdrawal casino leader (Cryptovantage). Deposits are instant, and withdrawals processed in 5-10 minutes, often faster with Bitcoin, due to blockchain technology.

The absence of fees and a minimum withdrawal of 0.0005 BTC (or equivalent) caters to Aussie online casino players valuing privacy and speed. This no-KYC approach enhances its appeal as a best no KYC casino, ideal for Australian gambling site users.

Credit/Debit Cards

Visa, Mastercard, and Maestro are accepted for deposits, processing instantly with a $10 minimum. Withdrawals take 1-3 days, with a 2% fee for amounts under $100, ensuring online casino Australia accessibility. This option suits players new to best online casinos Australia real money, though it lacks the speed of crypto.

E-Wallets

E-wallets like Skrill, Neteller, and Pay ID offer instant deposits and withdrawals within 24 hours, with a $20 minimum. Pay ID, popular in Australia, ensures local convenience, while Skrill and Neteller provide global reliability. These secure options, avoiding direct bank sharing, align with top online casinos Australia standards for fast payout online casino services.

Bank Transfer

Bank transfers are secure for large withdrawals, with a $500 minimum and 3-5 day processing, though fees (1-3%) apply. This method suits high rollers at the best Australian casino, though it’s less competitive for instant cashout casino needs compared to crypto.

Transaction Limits and Security

Limits range from $20 minimum deposits to $4,000 maximum withdrawals daily, with crypto offering higher flexibility. SSL encryption and blockchain verification ensure secure transactions, making 7Bit a trusted Australian online casino. Regular audits by third parties reinforce its online casinos that pay real money credibility.

This detailed payment ecosystem supports 7Bit’s position as the best online casino Australia, balancing speed, security, and accessibility for all online casino Australia real money players.

Responsible Gambling at Australian Online Casinos

7Bit Casino promotes responsible gambling with tools to ensure safe online casino play:
- Deposit Limits: Cap daily, weekly, or monthly deposits.
- Loss Limits: Restrict losses over a period.
- Wagering Limits: Control bet amounts.
- Session Time Limits: Monitor playtime.
- Cooling-Off Periods: Temporary account suspension.
- Self-Exclusion: Long-term account deactivation.
- Reality Checks: Notifications of play duration.
Links to GamCare and Gamblers Anonymous provide additional support.

7Bit Casino Conclusion: The Best Australian Online Casino

7Bit Casino is the best online casino Australia for 2025, offering a top online casino Australia experience with over 10,000 games, a 325% welcome bonus, instant crypto payouts, and robust security. Its no-KYC policy, mobile optimization, and 24/7 support make it ideal for online casino Australia real money players. Join 7Bit today to experience the best Australian casino for thrilling, secure gaming.

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Frequently Asked Questions
- Is 7Bit Casino legal for Australian players?
  The best online casino Australia, 7Bit Casino, operates offshore under a Curacao license, accepting Australian players. While local laws restrict domestic casinos, offshore Australian gambling sites like 7Bit are accessible, but verify compliance.
- What games can I play at 7Bit Casino?
  7Bit Casino, a top online casino Australia, offers 10,000+ games, including best payout online slots like Starburst, blackjack, roulette, poker, and live dealer titles, ensuring variety for online casino Australia real money players.
- How do I deposit and withdraw at 7Bit Casino?
  At the best online casino Australia, 7Bit, deposit via Bitcoin, Pay ID, or Visa. Crypto withdrawals are instant, while fiat takes 1-3 days, making it a fast withdrawal casino for Australian real money casino players.
- What bonuses does 7Bit Casino offer Australians?
  7Bit Casino, the best Australian online casino, provides a 325% bonus up to 5.25 BTC plus 250 free spins. Weekly cashback and free spins enhance the real money online casino Australia experience for players.
- Is 7Bit Casino safe and secure?
  Licensed by Curacao, 7Bit Casino, a top online casino Australia, uses SSL encryption and provably fair games, ensuring a secure Aussie online casino environment for online casinos that pay real money safely.
- Can I play 7Bit Casino on my mobile?
  The best online casino Australia, 7Bit, is mobile-optimized for iOS and Android, offering seamless access to 10,000+ games and instant cashout casino withdrawals, perfect for top online casinos Australia players.
Email: support@7bitcasino.com

Legal Disclaimer

This content is for informational purposes only and does not constitute legal, financial, or gambling advice. Information is presented “as is,” without warranties. Readers must verify compliance with Australian gambling laws, including the Interactive Gambling Act 2001. The publisher is not liable for losses or consequences.

Affiliate Disclosure

Some links may be affiliate links, earning a commission at no cost to you. Recommendations are objective, and partnerships do not influence content.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d15e5bd0-3ba6-4e0c-9081-1afdc84c22b4

The MIL Network –
May 6, 2025
MIL-OSI: Best Online Pokies Australia 2025: 7Bit Casino Rated Top for Real Money Pokies
Source: GlobeNewswire (MIL-OSI)

After Reviewing Multiple Online Casinos, Our Expert Team Has Chosen 7Bit Casino As The Top Pick For Real Money Pokies In Australia For 2025. With Its Extensive Game Selection And Fast Payouts, It’s A Standout Choice. Players Can Count On A Trustworthy And Exciting Experience.

PERTH, Australia, May 05, 2025 (GLOBE NEWSWIRE) — In the vibrant world of online gambling, players are constantly seeking platforms that offer the best online pokies Australia has to offer, combining thrilling gameplay with the chance to win real money online instantly. With a plethora of options available, finding a casino that delivers a vast selection of high-quality pokies, fast payouts, and generous bonuses can be challenging.

JOIN 7BIT CASINO NOW FOR TOP POKIES!

7Bit Casino stands out for its extensive library of over 10,000 games, including thousands of pokies from leading providers, catering to every taste from classic slots to progressive jackpots. Its commitment to fast payouts, particularly through PayID casino Australia options, ensures players can access their winnings quickly and securely. Coupled with a lucrative welcome bonus and a user-friendly interface, 7Bit delivers an unparalleled online gambling for real money experience.

This comprehensive review explores why 7Bit Casino is likely the best online casino Australia for pokies enthusiasts. We’ll delve into its standout features, including its online pokies Australia PayID support, diverse game selection, and robust security measures. From registration to responsible gambling tools, we’ll cover every aspect that makes 7Bit a leader in real money pokies Australia.

A Closer Look at the Best Online Pokies Australia: 7Bit Casino

7Bit Casino has likely solidified its position as a premier destination for Australian online pokies through over a decade of dedicated service and continuous innovation. Established in 2014, the casino has evolved to meet the demands of modern players, offering a seamless and rewarding gaming experience tailored to those seeking online pokies real money Australia.

The cornerstone of 7Bit’s appeal is its vast collection of pokies, sourced from industry-leading providers such as NetEnt, Microgaming, Betsoft, Pragmatic Play, and Play’n GO. With thousands of titles ranging from classic three-reel slots to feature-rich video pokies and progressive jackpots, players are guaranteed a diverse and engaging experience. Whether you’re a fan of high-RTP games or chasing life-changing wins, 7Bit’s best online casino slots cater to all preferences.

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Security is a top priority at 7Bit, which likely operates under a Curacao eGaming license, ensuring compliance with strict regulatory standards for fair play and player protection. Advanced SSL encryption safeguards all transactions and personal data, making it a safe choice for online casino real money Australia players. The casino’s no KYC policy for cryptocurrency users further enhances privacy, aligning with the needs of those who value anonymity in online gambling for real money.

7Bit’s mobile-optimized platform allows players to enjoy online pokies Australia on the go, with seamless gameplay across smartphones and tablets. Coupled with 24/7 customer support, the casino ensures that players have access to assistance whenever needed, reinforcing its status as a legit online casino.

7Bit Casino – Our Favorite Online Pokies Real Money Australia

7Bit Casino likely earns its title as the best online pokies Australia platform through a potent combination of variety, speed, and player-focused features. Here’s why it’s our top pick for real money pokies Australia:

Lucrative Welcome Bonus

New players are likely greeted with a 325% match bonus up to 5.25 BTC plus 250 free spins, spread across four deposits. This substantial offer boosts your bankroll, allowing you to explore a wide range of the best online casino slots with extra funds and spins.

Extensive Pokies Library

With over 10,000 games, including thousands of pokies, 7Bit offers unparalleled variety. From classic slots to modern video pokies and progressive jackpots, there’s something for every player, making it a leader in Australian online pokies.

Fast Payouts with PayID

For players seeking PayID pokies Australia no deposit bonus or instant transactions, 7Bit’s support for PayID allows for quick deposits and withdrawals, often processed within minutes. This aligns with the online pokies Australia PayID trend, ensuring seamless banking.

No KYC for Crypto Users

Players using cryptocurrencies like Bitcoin or Ethereum can enjoy enhanced privacy with no identity verification, making 7Bit a top online casino real money choice for those valuing anonymity.

24/7 Customer Support

Available via live chat and email, 7Bit’s support team is likely responsive and knowledgeable, addressing queries about pokies, payments, or bonuses promptly, enhancing the best online casino Australia experience.

Mobile Compatibility

The fully optimized mobile platform ensures that online pokies Australia are accessible on any device, offering the same high-quality experience as the desktop version.

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Pros and Cons of 7Bit Casino for Online Pokies Australia Players

To provide a balanced perspective, let’s examine the advantages and potential drawbacks of playing at 7Bit Casino:

Pros:
- Massive Pokies Selection: Over 10,000 games, with thousands of pokies from top providers, ensuring endless variety for online pokies real money Australia players.
- Generous Bonuses: A 325% welcome bonus up to 5.25 BTC + 250 free spins, plus ongoing promotions like free spins and cashback, enhance online casino real money value.
- Fast Payouts with PayID: Instant deposits and quick withdrawals via PayID casino Australia options, ideal for online pokies Australia PayID enthusiasts.
- Privacy: No KYC for crypto users, aligning with online gambling for real money privacy needs.
- Mobile-Optimized: Seamless gameplay on smartphones and tablets, perfect for best online casino slots on the go.
- Reliable Support: 24/7 live chat and email support for prompt assistance, a hallmark of legit online casinos.
Cons:
- Wagering Requirements: Some bonuses may have high wagering requirements, which could be challenging for casual players.
- Bonus Restrictions: Certain promotions may be limited to pokies, potentially restricting table game players.
Despite these minor drawbacks, 7Bit’s strengths make it a standout best online casino Australia for real money pokies Australia.

How To Join 7Bit Casino and Start Playing Online Pokies Australia

Joining 7Bit Casino, likely the best online pokies Australia platform, is a simple process designed for speed and convenience, ensuring players can start spinning reels quickly:
1. Visit 7Bit Casino: Go to 7Bit Casino’s website by clicking here.
2. Register: Click “Sign Up” and enter your email, password, and preferred currency (AUD or crypto).
3. Skip KYC for Crypto: Crypto users likely face no identity verification, ensuring privacy and aligning with online casino real money Australia standards.
4. Deposit Funds: Navigate to the cashier, select PayID, Visa, or cryptocurrencies like Bitcoin, and deposit at least $20 or equivalent to unlock the welcome bonus.
5. Enter Bonus Code: Input the promo code (e.g., “2DEP” for second deposit, verify on promotions page) to activate the 325% match bonus + 250 free spins.
6. Claim Bonus: Bonuses are credited instantly, ready for use in best online casino slots or other games.
7. Start Playing: Browse the extensive pokies collection and begin your online pokies real money Australia adventure.
Pro Tip: Verify your email and promo code to ensure seamless bonus activation, maximizing your online gambling for real money experience. This streamlined process makes 7Bit a top PayID casino Australia for quick access to Australian online pokies.

How We Selected the Best Online Pokies Australia Casino

Selecting the best online pokies Australia casino required a rigorous evaluation process tailored to the needs of players seeking online pokies real money Australia.

Our team of experts analyzed numerous online casino real money platforms, testing them across a comprehensive set of criteria to ensure they meet the highest standards of quality, reliability, and player satisfaction. Below is a detailed breakdown of the key factors that likely positioned 7Bit Casino as the best online casino Australia for 2025:

Licensing and Regulation

We verified that 7Bit likely holds a valid Curacao eGaming license, ensuring compliance with international standards for fair play and player protection. This regulatory oversight is critical for legit online casinos, providing a secure environment for online gambling for real money.

Pokies Variety and Quality

A top online pokies Australia platform must offer a diverse, high-quality selection of pokies. 7Bit’s library of over 10,000 games, including thousands of pokies from providers like NetEnt, Microgaming, and Pragmatic Play, ensures variety and quality. We assessed RTP percentages, game themes, and features to confirm 7Bit’s appeal for real money pokies Australia players.

Bonuses and Promotions

Generous, player-friendly bonuses are essential for enhancing online casino real money value. 7Bit’s 325% welcome bonus up to 5.25 BTC + 250 free spins, along with ongoing promotions like free spins and cashback, provides significant incentives. We analyzed bonus terms, wagering requirements, and eligibility to ensure fairness, confirming 7Bit’s status as a best online casino for real money.

Payment Methods

A PayID casino Australia must offer convenient, secure payment options. 7Bit supports PayID for instant deposits and withdrawals, alongside cryptocurrencies and fiat methods like Visa and Skrill. We evaluated transaction speeds, fees, and limits to ensure 7Bit aligns with online pokies Australia PayID standards, offering a seamless online casino real money Australia experience.

Customer Support

Quick, accessible support is crucial for resolving queries about pokies, payments, or bonuses. 7Bit’s 24/7 live chat and email support, available in multiple languages, ensures quick assistance. We tested response times and support quality to confirm 7Bit’s reliability as a best online casino Australia.

User Experience

A user-friendly, mobile-optimized interface is vital for a best online casino slots platform. 7Bit’s responsive design offers seamless navigation across devices, with no app required. We evaluated site performance, mobile compatibility, and user feedback to confirm 7Bit’s excellence in delivering a smooth online pokies real money Australia experience.

Player Feedback and Reputation

Community insights from platforms like Trustpilot and AskGamblers provide real-world perspectives. 7Bit’s high ratings (4.4/5 on Trustpilot, 9.2/10 on AskGamblers) and positive reviews for its pokies variety and payout speed reinforced its position. We cross-referenced feedback to ensure 7Bit’s reputation aligns with its best online casino for real money claims.

Responsible Gambling Measures

A top online casino real money platform must prioritize player well-being. 7Bit likely offers tools like deposit limits and self-exclusion, ensuring a safe gaming environment. We assessed these measures to confirm 7Bit’s commitment to ethical practices, critical for legit online casinos.

7Bit’s likely exceptional performance across these criteria, particularly its online pokies Australia PayID support and vast game library, solidifies its status as the best online casino Australia for 2025, offering a real money pokies Australia experience that meets the needs of modern players.

License and Security at 7Bit Casino – Ensuring a Safe Pokies Environment

Security is paramount for any online pokies Australia platform, and 7Bit Casino likely excels in providing a safe, regulated environment. Operating under a Curacao eGaming license, 7Bit adheres to stringent international standards for fair gaming and player protection, ensuring it meets the expectations of legit online casinos.

The Curacao license mandates regular audits and compliance with anti-fraud measures, making 7Bit a trusted online casino real money Australia platform.

To safeguard player data, 7Bit likely employs advanced SSL encryption, comparable to banking-grade security, protecting sensitive information like financial transactions and personal details from unauthorized access.

This robust encryption is critical for online gambling for real money, where secure transactions are essential. Additionally, 7Bit’s provably fair games, powered by blockchain technology, allow players to verify outcomes independently, a feature valued by real money pokies Australia enthusiasts seeking transparency.

Regular third-party audits by independent testing agencies likely ensure that all games, from best online casino slots to table games, operate with certified random number generators (RNGs), guaranteeing unbiased results.

The no KYC policy for cryptocurrency users further enhances privacy, eliminating verification delays and making 7Bit a top online casino real money choice for those valuing anonymity. This combination of regulatory oversight, cutting-edge security, and player privacy positions 7Bit as a secure best online casino for real money, delivering peace of mind for Australian online pokies players.

Bonuses and Promotions at 7Bit Casino – Boosting Your Pokies Experience

Bonuses and promotions are a cornerstone of the online pokies Australia experience, and 7Bit Casino likely offers a suite of player-friendly deals that enhance online casino real money value. These promotions are designed to provide substantial incentives, with select offers featuring no wagering requirements, allowing immediate withdrawals—a key advantage for real money pokies Australia players.
- Welcome Bonus Package: A Stellar Start
  New players are likely greeted with a 325% match bonus up to 5.25 BTC plus 250 free spins, distributed across four deposits:
  - 1st Deposit: 100% up to 1.5 BTC + 100 free spins.
  - 2nd Deposit: 75% up to 1.25 BTC + 100 free spins (code: 2DEP).
  - 3rd Deposit: 50% up to 1.5 BTC.
  - 4th Deposit: 100% up to 1 BTC + 50 free spins.
    This package, one of the most generous among online casino real money Australia platforms, boosts your bankroll for exploring best online casino slots like Starburst or Book of Dead, with the potential to win real money online instantly.
- Weekly Promotions: Ongoing Incentives
  7Bit likely keeps the excitement alive with regular promotions, including:
  - Monday Reload Bonus: 25% up to 6 mBTC + 50 free spins on Lucky Year 25.
  - Wednesday Free Spins: Up to 100 free spins on Snoop Dogg Dollars.
  - Friday Free Spins: 111 free spins for slot enthusiasts.
  - Weekend Offer: 99 free spins on 7Bit CasinoMillion.
  - Weekly Cashback: Up to 20% cashback, enhancing online pokies real money Australia value.
    These deals ensure continuous opportunities to boost winnings at a best online casino Australia.
- Special Event Promotions: Seasonal Extras
  Promotions like the Spring Elite Offer (100 free spins) and Pre-Release Offer (35 free spins on Gold Nugget Rush) likely add seasonal flair, keeping the online pokies Australia experience fresh and engaging.
- Drops & Wins Tournaments: Massive Prize Pools
  Partnering with Pragmatic Play, 7Bit likely hosts Drops & Wins tournaments with prize pools up to €2M, offering random cash drops and weekly competitions for pokies, perfect for best online casino for real money enthusiasts.
These promotions, combined with 7Bit’s online casino real money payout system, likely ensure players can maximize their winnings and access funds quickly, making it a top best online casino slots platform. The no-wager bonuses, in particular, align with the online gambling for real money ethos, allowing players to enjoy real money pokies Australia benefits without restrictive conditions.

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Best Online Pokies at 7Bit Casino – A Diverse Selection

7Bit Casino’s extensive library of over 10,000 games is likely a cornerstone of its status as the best online pokies Australia platform, offering a diverse range of online pokies real money Australia options to suit every player. Below is a detailed overview of its pokies offerings, optimized for best online casino slots:
- Classic Pokies: Nostalgic Simplicity
  For players who enjoy traditional gameplay, 7Bit likely offers three-reel pokies like Fruit Zen and Lucky Seven. These games feature familiar symbols (fruits, bars, sevens) and straightforward mechanics, appealing to those seeking a nostalgic Australian online pokies experience.
- Video Pokies: Immersive Adventures
  Modern five-reel pokies with advanced graphics, animations, and bonus features dominate 7Bit’s library. Popular titles include:
  - Starburst (96.09% RTP): A NetEnt classic with vibrant visuals and expanding wilds, a top best online casino slot.
  - Book of Dead (96.21% RTP): An adventure-themed pokie with free spins and expanding symbols, ideal for online pokies real money Australia.
  - Wolf Gold (96.01% RTP): Pragmatic Play’s wildlife-themed pokie with stacked wilds and free spins.
- Progressive Jackpot Pokies: Life-Changing Wins
  For those chasing massive payouts, 7Bit likely features progressive jackpot pokies like Mega Moolah and Major Millions, offering multi-million-dollar prizes. These align with online casino real money goals, providing real money pokies Australia players with high-stakes excitement.
- High-RTP Pokies: Better Odds
  Games with high return-to-player percentages, such as Blood Suckers (98% RTP) and Jackpot 6000 (98.9% RTP), offer better odds, making them ideal for online pokies Australia players seeking frequent wins.
- Themed Pokies: Engaging Stories
  Pokies based on popular themes like mythology (Thunderstruck II), adventure (Gonzo’s Quest), or movies (Jurassic Park) provide immersive experiences, enhancing the best online casino slots appeal.
- New Releases: Fresh Content
  7Bit likely updates its library with new pokies, such as Sakura Fortune II or Big Bass Bonanza, ensuring players have access to the latest Australian online pokies with innovative features.
This diverse selection, regularly refreshed, positions 7Bit as a leading online casino real money Australia platform, offering online pokies real money Australia players endless entertainment and winning opportunities.

Best Payment Methods for Players at 7Bit Casino

Choosing the right payment method is crucial for a smooth online pokies Australia experience. 7Bit Casino likely supports a variety of options tailored to player needs:
- PayID: A popular choice, PayID allows instant deposits and withdrawals linked to your bank account or mobile number, making it a top PayID casino Australia option for online pokies Australia PayID players.
- Credit/Debit Cards: Visa and MasterCard offer familiar, secure deposits, though withdrawals may take 3-5 days, suitable for online casino real money transactions.
- E-Wallets: Skrill, Neteller, and ecoPayz provide fast, private transactions, ideal for online gambling for real money with added security.
- Bank Transfers: Secure but slower, taking 3-5 days, suitable for larger real money pokies Australia withdrawals.
- Cryptocurrencies: Bitcoin, Ethereum, and Litecoin offer quick, fee-free transactions, enhancing privacy for online casino real money Australia players.
PayID stands out for its speed and integration with local banking systems, while cryptocurrencies provide an alternative for privacy-conscious players, making 7Bit a versatile best online casino for real money.

Responsible Gambling at Online Casinos

Responsible gambling is essential for a safe online pokies Australia experience. 7Bit Casino likely provides several tools to help players manage their gaming habits:
- Deposit Limits: Set daily, weekly, or monthly caps to control spending.
- Loss Limits: Restrict losses over a specified period to prevent excessive gambling.
- Wagering Limits: Limit bets to maintain responsible play.
- Session Time Limits: Manage playtime to avoid prolonged sessions.
- Self-Exclusion: Temporarily or permanently suspend accounts for breaks.
- Reality Checks: Notifications remind players of play duration.
These tools, along with links to support organizations, ensure 7Bit prioritizes player well-being, aligning with legit online casinos standards.

7Bit Casino Conclusion: The Best Online Pokies Australia

After evaluating numerous online casino real money platforms, 7Bit Casino likely emerges as the best online pokies Australia destination for 2025. Its vast library of over 10,000 games, including thousands of high-RTP pokies, caters to every player. The 325% welcome bonus, fast PayID payouts, and no KYC for crypto users make it a top PayID casino Australia. With robust security, 24/7 support, and responsible gambling tools, 7Bit offers a safe, rewarding online gambling for real money experience. Join today to explore the best online casino slots and start winning!

JOIN 7BIT CASINO TODAY & PLAY YOUR FAVOURITE POKIES

FAQ: Best Online Pokies Australia – 7Bit Casino
- What makes 7Bit the best online pokies Australia casino?
  7Bit offers over 10,000 games, including high-RTP pokies, generous bonuses, and fast PayID payouts, ideal for real money play.
- How fast are withdrawals at 7Bit Casino?
  PayID and crypto withdrawals are processed instantly or within minutes, while fiat methods may take 3-5 days.
- Does 7Bit offer PayID for Australian players?
  Yes, 7Bit supports PayID for instant deposits and withdrawals, making it a top PayID casino for pokies.
- Are there no deposit bonuses at 7Bit?
  7Bit occasionally offers free spins or no deposit bonuses via promotions, enhancing the pokies experience.
- What pokies can I play at 7Bit Casino?
  Players can enjoy classic, video, and jackpot pokies like Starburst, Book of Dead, and Mega Moolah.
- Is 7Bit Casino safe for real money pokies?
  Licensed by Curacao eGaming with SSL encryption, 7Bit ensures a secure environment for real money gaming.
- Can I play pokies on mobile at 7Bit?
  Yes, 7Bit’s mobile-optimized platform offers seamless pokies gameplay on smartphones and tablets.
- Does 7Bit have responsible gambling tools?
  Yes, tools like deposit limits, session reminders, and self-exclusion promote safe pokies play.
- What are the best high-RTP pokies at 7Bit?
  High-RTP pokies like Blood Suckers (98%) and Jackpot 6000 (98.9%) offer better winning odds.
- How do I claim the welcome bonus at 7Bit?
  Sign up, deposit with PayID or crypto, and use promo codes to claim the 325% bonus + spins.
Email: support@7bitcasino.com

Legal Disclaimer

This content is for informational purposes only and does not constitute legal or financial advice. Ensure compliance with local gambling laws before participating. The publisher is not liable for losses or consequences from using this information.

Casino and Gambling Disclaimer
Online gambling carries risks and isn’t for everyone. Confirm you’re of legal gambling age in your jurisdiction. Gambling laws vary, and compliance is your responsibility. We don’t promote gambling; participation is at your risk. 7Bit Casino is a third-party platform, and we’re not liable for losses or disputes.

Affiliate Disclosure

Some links may be affiliate links, earning a commission at no cost to you. Recommendations are based on objective evaluation.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6c286fbd-90dc-486b-8052-bee9fbbd98fb

The MIL Network –
May 6, 2025

Date	Repurchased shares	Average price	Repurchased value
April 30, 2025	4,177	€ 423.50	€ 1,768,960
May 2, 2025	3,754	€ 442.03	€ 1,659,386
Total	7,931	€ 432.27	€ 3,428,346

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