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Category: Asia Pacific

  • MIL-OSI USA: VIDEO: Ricketts Fights for America’s Producers

    US Senate News:

    Source: United States Senator Pete Ricketts (Nebraska)

    WASHINGTON, D.C. – This week, during his weekly press call with Nebraska media, U.S. Senator Pete Ricketts (R-NE) discussed the One Big Beautiful Bill and his work to secure the future for those who feed and fuel America.

    Watch the video here.

    “Agriculture is the heart and soul of what we do in Nebraska,” said Ricketts.  “Family farms, ranches, and agri-businesses are the backbone of communities across our state.  The One Big Beautiful Bill helps producers today and lays the foundation for strong agricultural growth tomorrow. It grows our economy at home and will help gain new markets abroad.”

    TRANSCRIPT:

    Senator Ricketts: “Agriculture is the heart and soul of what we do in Nebraska. 

    “Family farms, ranches, and agri-businesses are the backbone of communities across Nebraska. 

    “The One Big Beautiful Bill helps producers today and lays the foundation for strong agricultural growth tomorrow.  

    “It grows our economy at home and will help gain new markets abroad. 

    “The One Big Beautiful Bill (OBBB) secures the future for those who feed and fuel America—and the world.  

    “The One Big Beautiful Bill backs our way of life. 

    “First of all, the bill avoided a $2,400 tax increase that would have hit the average Nebraska family. 

    “That’s $2,400 that Nebraskans can continue to spend on groceries, electric bills or to save for a family vacation.   

    “The bill also helps farmers plan for the next generation. 

    “Over 80% of Nebraska’s farms are family-owned. 

    “The 2017 Tax Cuts and Jobs Act cut in half the number of farm and ranch families that were going to be subject to the Death Tax. 

    “The Big Beautiful Bill ensures the Death Tax exemption will now be permanent and rise with inflation. 

    “This will ensure that over $200 billion in hard-earned family farm assets across the country will go to the next generation and not the government. 

    “Now, more farms will be passed down, not taxed away to Uncle Sam.  

    “The 45Z clean fuel production credit is another major win for Nebraska. 

    “Biofuels are a win for consumers who save money at the pump. 

    “It’s a win for the environment, because it helps clean up our environment, and it’s a win for our farmers and ranchers. 

    “Last year, Nebraskans saved $325 million using ethanol blends. 

    “Last time I fueled up at Hy-Vee with E10, I saved 55 cents per gallon. 

    “The 45Z credit boosts biofuel production and creates value for farmers and ranchers. 

    “It narrows eligible feedstock commodities to North America, protecting Nebraska farmers from foreign competition. 

    “Producers in Communist China should be prevented from receiving American tax subsidies. 

    “All of this boosts demand for row crops and renewable fuel production. 

    “That means more jobs and better prices. 

    “Nebraska’s 25 ethanol plants support 1,300 jobs and have a $6 billion impact. 

    “The credit gives investors the certainty they need to hire and expand. 

    “Nebraska agriculture feeds and fuels the world. 

    “When I was Governor, I led trade missions to places like Japan and Vietnam to build strong relationships between foreign importers and Nebraska producers. 

    “I launched an international trade council to discover new opportunities for overseas markets. 

    “Nebraska’s economy thrives when our producers can reach high-paying global markets. 

    “Recognizing this, the One Big Beautiful Bill strengthens the Supplemental Agricultural Trade Promotion Program. 

    “It provides $285 million annually to promote U.S. agricultural exports. 

    “It doubles funding for the Market Access Program and the Foreign Market Development program. 

    “That means more demand for Nebraska beef, corn, and soybeans abroad. 

    “Simply put, when agriculture thrives, so does the entire Nebraska economy. 

    “Maintaining current exports and opening up markets under the bill will help get better prices for their products for our producers.

    “The big beautiful bill gives critical support to young farmers and ranchers, as well, taking over the family business or starting out on their own.  

    “The Beginning Farmer and Rancher Development Benefit was extended from five years to ten years.  

    “That gives new producers access to critical risk management tools.   

    “The bill also supports educational access for rural students.   

    “It excludes agricultural assets from student financial aid calculations. 

    “That means farm kids will not be discriminated against when applying for financial aid.  

    “For young Nebraskans, the bill expands Pell Grant eligibility to short-term job training. 

    “That includes hands-on fields like welding, diesel tech, and irrigation systems. 

    “Now, a young Nebraskan in Scottsbluff, for example, can learn a trade and start working at places like Aulick Industries without piling up debt.  

    “The One Big Beautiful Bill helps Nebraska producers grow and reinvest. 

    “Full expensing is now permanent for property like tractors and other heavy machinery. 

    “A corn grower in Custer County will be able to fully write off a new, more efficient combine. 

    “Another provision in the bill boosts expensing for tools and equipment. 

    “This helps small businesses from welders to seed dealers invest to improve productivity. 

    “The Big Beautiful Bill gives producers needed updates to the farm safety net. 

    “Reference prices now reflect today’s markets. 

    “Drought aid under the Livestock Forage Program has been improved. 

    “Now, producers facing feed losses from grazing shortfalls will see faster relief. 

    “These updates give producers support, stability, and long-term certainty.  

    “Nebraska’s future depends on certainty for farmers, ranchers, and agri-business. 

    “The One Big Beautiful Bill supports agriculture today and protects the next generation of farmers and ranchers. 

    “That is how we keep producing the Good Life.” 

    MIL OSI USA News –

  • Judges question whether Trump tariffs are authorized by emergency powers

    Source: Government of India

    Source: Government of India (4)

    U.S. appeals court judges sharply questioned on Thursday whether President Donald Trump’s tariffs were justified by the president’s emergency powers, after a lower court said he exceeded his authority with sweeping levies on imported goods.

    The U.S. Court of Appeals for the Federal Circuit in Washington, D.C., is considering the legality of “reciprocal” tariffs that Trump imposed on a broad range of U.S. trading partners in April, as well as tariffs imposed in February against China, Canada and Mexico.

    In hearing arguments in two cases brought by five small U.S. businesses and 12 Democratic-led U.S. states, judges pressed government lawyer Brett Shumate to explain how the International Emergency Economic Powers Act (IEEPA), a 1977 law historically used for sanctioning enemies or freezing their assets, gave Trump the power to impose tariffs.

    Trump is the first president to use IEEPA to impose tariffs.

    The judges frequently interrupted Shumate, peppering him with a flurry of challenges to his arguments.

    “IEEPA doesn’t even say tariffs, doesn’t even mention them,” one of the judges said.

    Shumate said that the law allows for “extraordinary” authority in an emergency, including the ability to stop imports completely. He said IEEPA authorizes tariffs because it allows a president to “regulate” imports in a crisis.

    The states and businesses challenging the tariffs argued that they are not permissible under IEEPA and that the U.S. Constitution grants Congress, and not the president, authority over tariffs and other taxes.

    Neal Katyal, a lawyer for the businesses, said the government’s argument that the word “regulate” includes the power to tax would be a vast expansion of presidential power, Katyal said.

    The arguments – one day before Trump plans to increase tariff rates on imported goods from nearly all U.S. trading partners – mark the first test before a U.S. appeals court of the scope of his tariff authority. The president has made tariffs a central instrument of his foreign policy, wielding them aggressively in his second term as leverage in trade negotiations and to push back against what he has called unfair practices.

    Trump has said the April tariffs were a response to persistent U.S. trade imbalances and declining U.S. manufacturing power.

    He said the tariffs against China, Canada and Mexico were appropriate because those countries were not doing enough to stop illegal fentanyl from crossing U.S. borders. The countries have denied that claim.

    Shumate cited a 1975 appeals court decision that authorized President Richard Nixon’s across-the board surcharge of 10% on imported merchandise to slow inflation. But that decision added that the president did not have authority to impose “whatever tariff rates he deems desirable.”

    Shumate also said that courts cannot review a president’s actions under IEEPA or impose additional limits that are not included in the law. Several judges said that the argument would essentially allow one law, IEEPA, to overwrite all other U.S. laws related to tariffs and imports.

    Katyal said the Trump administration’s argument ignored the more limited nature of Nixon’s tariffs and changes to the law since the 1970s.

    “No trade law in 200 years has been interpreted to give the president this power,” Katyal said.

    The case is being heard by a panel of all of the court’s active judges, eight appointed by Democratic presidents and three appointed by former Republican presidents. The timing of the court’s decision is uncertain, and the losing side will likely appeal quickly to the U.S. Supreme Court.

    TRADE NEGOTIATIONS

    Tariffs are starting to build into a significant revenue source for the federal government, with customs duties in June quadrupling to about $27 billion, a record, and through June have topped $100 billion for the current fiscal year. That income could be crucial to offset lost revenue from Trump’s tax bill passed into law earlier this month.

    But economists say the duties threaten to raise prices for U.S. consumers and reduce corporate profits. Trump’s on-again, off-again tariff threats have roiled financial markets and disrupted U.S. companies’ ability to manage supply chains, production, staffing and prices.

    On May 28, a three-judge panel of the U.S. Court of International Trade sided with the Democratic states and small businesses that challenged Trump. It said that the IEEPA did not authorize tariffs related to longstanding trade deficits.

    The Federal Circuit has allowed the tariffs to remain in place while it considers the administration’s appeal.

    The case will have no impact on tariffs levied under more traditional legal authority, such as duties on steel and aluminum imports.

    The president recently announced trade deals that set tariff rates on goods from the European Union and Japan, following smaller trade agreements with Britain, Indonesia and Vietnam. Trump’s Department of Justice has argued that limiting the president’s tariff authority could undermine ongoing trade negotiations, while other Trump officials have said that negotiations have continued with little change after the initial setback in court.

    Trump has set an August 1 date for higher tariffs on countries that don’t negotiate new trade deals.

    There are at least seven other lawsuits challenging Trump’s invocation of IEEPA, including cases brought by other small businesses and California.

    A federal judge in Washington, D.C., ruled against Trump in one of those cases, and no judge has yet backed Trump’s claim of unlimited emergency tariff authority.

    (Reuters)

  • MIL-OSI Analysis: European gloom over the Trump deal is misplaced. It’s probably the best the EU could have achieved

    Source: The Conversation – UK – By Maha Rafi Atal, Adam Smith Senior Lecturer in Political Economy, School of Social and Political Sciences, University of Glasgow

    The trade deal between the US and the European Union, squeezed in days before the re-introduction of Donald Trump’s “liberation day” tariffs, is reflective of the new politics of global trade. Faced with the threat of 30% baseline tariffs from Washington, as well as additional levies on specific sectors, the EU has secured a partial reprieve of a flat 15% tariff on all goods.

    Was this the best the bloc could have achieved? In the time available, it may well have been. The 15% rate is higher than the UK secured earlier this year, but it’s significantly below the level applied to China and Mexico, and on par with Japan.

    The EU has also managed a “zero-for-zero” tariffs deal on some hi-tech goods, notably semiconductors vital for products like phones and laptops. This is something the UK did not push for or secure in its own framework agreed with the US president.



    Read more:
    Donald Trump has reduced tariffs on British metals and cars, but how important is this trade deal? Experts react

    What’s more, EU leaders have argued that agreeing to the deal has security benefits in protecting dwindling US support for European defence. The urgency of Europe’s security concerns in Ukraine made these talks different from trade negotiations in the first Trump administration, when Europe could afford to be more aggressive.

    The biggest winners in this deal are Europe’s carmakers. The US has collapsed various sector-specific duties on goods like aircraft, cars and automotive parts into the 15% ceiling. This effectively reduces tariffs on EU-made cars (from 27.5%).

    American automakers, meanwhile, rely heavily on parts from Mexico and China – still subject to higher tariffs at the time of writing. This makes EU vehicles more competitive for US consumers than “American” cars that rely on overseas parts.

    Most importantly however, like the UK deal before it, the new EU agreement is a statement of understanding between the White House and the European Commission, rather than a formal treaty. A treaty would be subject to parliamentary ratification on both sides.

    But the semi-formal nature of this agreement allows both Trump and European leaders to portray the deal as a “win” by playing fast and loose with what’s actually in it.

    For example, the Trump administration will celebrate an EU commitment to buy US$250 billion (£189 billion) in US energy imports annually. Yet the concession holds no legal weight in the EU. The European Commission, which negotiated with Trump, does not buy any energy nor does it manage the power grid inside its 27 member states.

    The commission can encourage, but cannot compel, those states to buy American. (Indeed, it might want to do so anyway, since it helps it to pivot away from Russian gas). But ultimately, member states and businesses decide where their energy supply comes from, and they are not direct parties to the deal. Only a formal treaty ratified by the European parliament would compel them.

    No guarantees from Trump

    The informal nature of this agreement also allows EU member states to protest against what they see as capitulation to Trump’s demands without real consequence. After all, there is not yet a treaty text they would be required to vote on or implement.

    The Trump administration similarly imposed its sweeping tariff threats in early spring without a vote from Congress, and has been making ad hoc changes to the rates in the same way.

    On the one hand, this means European countries may not ultimately be required to implement some of the deal’s less savoury elements such as the energy purchases or lowering the bloc’s own tariffs on US goods.

    On the other hand, this means the Trump administration – notorious for abrupt changes of turn – can also renege at any time. In reality, there is little the EU can do about this. The question of leverage looms large. Trump’s longstanding antipathy towards the EU – seeing it less as an ally and more as a rival – meant that Brussels was never negotiating from a position of strength.

    The fact that the EU avoided the worst-case scenario, protected key sectors and secured other sector-specific advantages suggests a deal shaped not by triumph, but by containment of Trump. Since the deal was announced, the picture emerging from many European leaders has been one of gloom. True, the EU didn’t win – but it survived. And that, for now, is probably enough.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

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

    – ref. European gloom over the Trump deal is misplaced. It’s probably the best the EU could have achieved – https://theconversation.com/european-gloom-over-the-trump-deal-is-misplaced-its-probably-the-best-the-eu-could-have-achieved-262369

    MIL OSI Analysis –

  • MIL-OSI Analysis: Will the latest diplomatic moves to end the war in Gaza work?

    Source: The Conversation – UK – By Jonathan Este, Senior International Affairs Editor, Associate Editor, The Conversation

    This article was first published in The Conversation UK’s World Affairs Briefing email newsletter. Sign up to receive weekly analysis of the latest developments in international relations, direct to your inbox.

    It feels as if things are moving at completely different speeds in Gaza and in the outside world. From the embattled Gaza Strip the narrative is depressingly familiar. Dozens more Palestinian civilians have been killed in the past 24 hours as they try to get hold of scarce supplies of food.

    Aid agencies report that despite air drops of supplies and “humanitarian pauses” in the fighting, the amount of food getting through to the starving people of Gaza remains pitifully insufficient.

    Two more children are reported to have died of starvation, bringing the total number of hunger-related deaths to 159, according to Palestinian sources quoted by al-Jazeera.

    US envoy Steve Witkoff arrived in Jerusalem for more talks as the US president Donald Trump posted his latest bout of social media diplomacy on his TruthSocial site, a message which appears pretty faithful to the Netanyahu government’s position: “The fastest way to end the Humanitarian Crises in Gaza is for Hamas to SURRENDER AND RELEASE THE HOSTAGES!!”

    Both sides continue to reject the other side’s demands, bringing ceasefire negotiations to an effective standstill.

    In the outside world, meanwhile, events seem to be gathering pace. A “high-level conference” at the United Nations in New York brought together representatives of 17 states, the European Union and the Arab League, resulting in “a comprehensive and actionable framework for the implementation of the two-state solution and the achievement of peace and security for all”.

    Sign up to receive our weekly World Affairs Briefing newsletter from The Conversation UK. Every Thursday we’ll bring you expert analysis of the big stories in international relations.

    What first catches the eye about this proposal, which was signed by Saudi Arabia,
    Qatar, Egypt and Jordan, is that it links a peace deal with the disarming and disbanding of Hamas. It also condemns the militant group’s savage attack on southern Israel on October 23 2023, which was the catalyst for the latest and arguably most grievous chapter of this eight-decade conflict. It’s the first time the Arab League has taken either of these positions.

    The New York declaration, as it has been dubbed, envisages the complete withdrawal of Israeli security forces from Gaza and an end to the displacement of Palestinians. Government will be the responsibility of the Palestinian Authority (PA), and a conference to be scheduled in Egypt will design a plan for the reconstruction of Gaza, much of which has been destroyed in the 20-month assault by the Israel Defense Forces.

    It is, writes Scott Lucas, a “bold initiative” which, “in theory could end the Israeli mass killing in Gaza, remove Hamas from power and begin the implementation of a process for a state of Palestine. The question is whether it has any chance of success.”

    Lucas, an expert in US and Middle East politics at the Clinton Institute of University College Dublin, is not particularly sanguine about the short-term prospects for a ceasefire and the alleviation of the desperate conditions for the people of Gaza. But what it represents more than anything else, is “yet another marker of Israel’s increasing isolation”.

    He points to recent announcements that France, the UK (subject to conditions) and Canada will recognise the state of Palestine at the UN general assembly in September. The prospect of normalisation between Israel and Arab states, at the top of the agenda a few short years ago, is now very unlikely. And in the US, which remains Israel’s staunchest ally, a Gallup poll recently found that public opinion is turning against Israel and its prime minister, Benjamin Netanyahu.



    Read more:
    New peace plan increases pressure on Israel and US as momentum grows for Palestinian statehood

    But how important are the declarations by France, the UK and Canada of intent to potentially recognise Palestinian statehood, asks Malak Benslama-Dabdoub. As expert in international law at Royal Holloway University of London, who has focused on the question of Palestinian statelessness, Benslama-Dabdoub thinks that the French and British pledges bear closer examination.

    The French declaration was made on July 24 on Twitter by the president, Emmanuel Macron. Macron envisages a “demilitarised” state, something Benslama-Dabdoub sees as a serious problem, as it effectively denies the fundamental right of states to self-determination and would rob a future Palestinian state of the necessary right to self-defence.

    The declaration by the UK prime minister that Britain may also recognise Palestinian statehood in September is framed as a threat rather than a pledge. Unless Israel agrees to a ceasefire, allows the UN to recommence humanitarian efforts and engages in a long-term sustainable peace process, the UK will go ahead with recognising Palestine at the UN.

    You have to consider that the UK government’s statement said that the position has always been that “Palestinian statehood is the inalienable right of the Palestinian people”. So to frame this as a threat rather than a demand is arguably to deny that “inalienable right”.



    Read more:
    UK to recognise Palestinian statehood unless Israel agrees to ceasefire – here’s what that would mean

    Paul Rogers also sees serious problems with the pledges to recognise Palestinian statehood. Demands for Hamas to disarm and play no further role in Palestinian government he sees as a non-starter as is the thought of a demilitarised Palestine. “Neither plan has the slightest chance of getting off the ground.”

    Rogers, who has researched and written on the Middle East for more than 30 years, also thinks that without the full backing of the US there is very little chance that a peace plan could succeed.

    Rogers finds it hard to believe that Washington will change tack on the Palestinian question, “unless the US president somehow gets the idea that his own reputation is being damaged”. There’s always a chance of this. News from the Gaza Strip is relentlessly horrifying and the aforementioned polls suggest many voters are reassessing their views of the conflict. But Trump is heavily indebted for his re-election to the far-right Christian Zionist movement, who wield a great deal of power with the White House.

    The other thing that might influence the conflict is if enough of the IDF’s top brass recognise the futility of waging what has always been an unwinnable conflict. This, writes Rogers, is whispered about in Israel’s military circles and one eminent retired general, Itzhak Brik, has come out and said: “Hamas has defeated us.”

    These, writes Rogers, are currently the only routes to an end to the conflict.



    Read more:
    UK and France pledges won’t stop Netanyahu bombing Gaza – but Donald Trump or Israel’s military could

    Inside Trumpian diplomacy

    We mentioned earlier that the Canadian prime minister, Mark Carney, has also pledged to recognise the state of Palestine in September. This was immediately greeted by Trump with the threat that he does so it will derail a trade deal with the US. Whether this will cut any ice with Carney, who had to make concessions to get the trade deal done in the first place, remains to be seen.

    But there’s a broader point here, writes Stefan Wolff. As Wolff reports, this week the foreign ministers of the Democratic Republic of Congo and Rwanda got together in Washington to sign a ceasefire deal, brokered by the US. Trump also claims to have successfully ended a conflict between India and Pakistan at the end of May and hostilities between Thailand and Cambodia earlier this month.

    Meanwhile his efforts to secure peace deals, or even a lasting ceasefire, in Gaza or Ukraine have been unsuccessful.

    Wolff considers why some countries respond to Trump’s diplomatic efforts while others don’t. There are a number of reasons, principally the US president’s ability to apply leverage through trade deals or sanctions and the differing complexity of the conflicts.

    He also points to the depleted resources of the US state department, Trump’s use of personal envoys with little foreign affairs experience and the US president’s insistence on making all the important decisions himself. He concludes: “The White House simply may not have the bandwidth for the level of engagement that would be necessary to get to a deal in Ukraine and the Middle East.”



    Read more:
    Why Donald Trump has stopped some conflicts but is failing with Ukraine and Gaza

    One US government department whose resources haven’t been depleted under Donald Trump is the US Immigration and Customs Enforcement agency, known as Ice. Part of the Department of Homeland Security, Ice has been responsible for identifying and detaining non-citizens and undocumented migrants.

    Their agents carry guns, wear masks and typically operate in plain clothes, although they often wear military kit. The agency received massive funding via Trump’s One Bzig Beautiful Bill Act earlier this month, which will allow the agency to recruit hundreds, if not thousands, of new agents. The number of arrests is increasing steadily, as is the disquiet their operations are prompting in many American cities, where opposition protests are also growing.

    Dafydd Townley, an expert in US politics at the University of Portsmouth, explains how Ice operates and where it sits in Donald Trump’s plan to deport millions of illegal migrants from the US.



    Read more:
    Masked and armed agents are arresting people on US streets as aggressive immigration enforcement ramps up

    World Affairs Briefing from The Conversation UK is available as a weekly email newsletter. Click here to get updates directly in your inbox.

    – ref. Will the latest diplomatic moves to end the war in Gaza work? – https://theconversation.com/will-the-latest-diplomatic-moves-to-end-the-war-in-gaza-work-262380

    MIL OSI Analysis –

  • Trump wants deal to end Russia’s war in Ukraine by August 8, US tells UN

    Source: Government of India

    Source: Government of India (4)

    U.S. President Donald Trump has made clear that he wants a deal to end Russia’s war in Ukraine by August 8, the United States told the United Nations Security Council on Thursday.

    “Both Russia and Ukraine must negotiate a ceasefire and durable peace. It is time to make a deal. President Trump has made clear this must be done by August 8. The United States is prepared to implement additional measures to secure peace,” senior U.S. diplomat John Kelley told the 15-member council.

    Trump said on Tuesday that the United States would start imposing tariffs and other measures on Russia “10 days from today” if Moscow showed no progress toward ending its war in Ukraine.

    Kyiv and Moscow have held three rounds of talks in Istanbul this year that yielded exchanges of prisoners and bodies, but no breakthrough to defuse the more than three-year conflict.

    “We intend to continue the negotiations in Istanbul,” Russia’s deputy U.N. Ambassador Dmitry Polyanskiy told the council, but he added: “Despite the meetings in Istanbul, in the West, the war party did not go away … We continue hearing voices of those who think that diplomacy is just a way of criticizing Russia and exerting pressure on it.”

    Ukraine’s deputy U.N. Ambassador Khrystyna Hayovyshyn said Russia must be confronted with “unity, resolve and action.”

    “We seek a comprehensive, just and lasting peace grounded in the principles of the U.N. Charter and nothing less. We repeat – a full, immediate and unconditional ceasefire is essential. It is the first step to halting Russia’s war of aggression against Ukraine,” she told the council.

    (Reuters)

  • MIL-OSI Russia: Chinese Defense Minister Says PLA Ready to Seek Complete Reunification of China

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 31 (Xinhua) — Chinese Defense Minister Dong Jun on Thursday said the People’s Liberation Army (PLA) is always ready to pursue the goal of complete reunification of China, resolutely oppose any separatist attempt to gain “Taiwan independence” and suppress any military interference from external forces.

    Dong Jun made the remarks at a grand reception held by the Chinese Ministry of Defense in Beijing to mark the 98th anniversary of the founding of the PLA on August 1.

    The Minister recalled that this year marks the 80th anniversary of the victory in the Chinese People’s War of Resistance against Japanese Aggression and the World Anti-Fascist War, the 80th anniversary of the liberation of Taiwan from Japanese occupation, and the 80th anniversary of the founding of the United Nations.

    On September 3, a military parade will be held in Tiananmen Square in Beijing to commemorate the 80th anniversary of the victory in the Chinese People’s War of Resistance against Japanese Aggression and the World Anti-Fascist War.

    Dong Jun said the parade would demonstrate to the Party and the Chinese people that the PLA is a powerful force that stands guard over peace and justice.

    The Chinese military, the minister added, is ready to work with its counterparts in all countries of the world to implement the concept of a community with a shared future for mankind and the three major global initiatives, jointly respond to risks and challenges, and hand in hand build a world of lasting peace, universal security, common prosperity, openness, inclusiveness, cleanliness and beauty. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI United Nations: Speakers Stress Economic and Social Council’s Key Role in Responding to Today’s Global Challenges, as 54-Member Organ Begins 2026 Session, Elects Bureau

    Source: United Nations MIL OSI

    The Economic and Social Council commenced its 2026 session today, and as Canada handed its presidency to Nepal, speakers pointed to the important role that the organ must play in responding to the myriad challenges of the moment.

    Opening the meeting, Robert Rae (Canada), the Council’s President for its 2025 session, noted that “we hear a lot in the UN discourse about how things are broken, how things have fallen apart, how things are unhinged”.  While not disagreeing with those assessments, he emphasized:  “Our job is not to give speeches saying how terrible things are — our job is to roll up our sleeves and fix things.”  He added that no UN agency or body “has more of a responsibility to do that than the Economic and Social Council”.

    Urging that body to take its responsibilities seriously, he recalled some of the problems that the Council addressed over the past year — the role of artificial intelligence, the situation in Haiti and development in the UN context.  “I think this Council helped,” he stated.  He also pointed out that current questions regarding the UN’s relevance are not new — some even raised them when the Organization was founded — and spotlighted, as a counterpoint, the important discourse concerning the State of Palestine during the recent high-level conference on the two-State solution.

    President Appointed, Vice-Presidents Elected for 2026 Session 

    He concluded that the new Bureau will face new challenges ahead — “that’s how the world works” — and the Council then elected, by acclamation, Lok Bahadur Thapa (Nepal) as President of the Council at its 2026 session.

    Taking his seat at the podium, Mr. Thapa directed the Council to proceed to the election of the other Bureau members for that session.  The body then elected — also by acclamation — Amar Bendjamaa (Algeria), Paruyr Hovhannisyan (Armenia), Wellington Darío Bencosme Castaños (Dominican Republic) and Héctor Gómez Hernández (Spain) to serve as Vice-Presidents.

    Mr. Thapa then delivered his inaugural statement, emphasizing:  “For Nepal, this is a historic moment.”  Recalling that his country was admitted to the UN 70 years ago, he said that assuming Presidency of the Council for the first time is a “testament to our enduring commitment to multilateralism and our aspiration to contribute meaningfully to build trust, strengthen multilateral cooperation and achieve a more just, inclusive, equitable and resilient world”.

    Yet, “the world today is navigating a ‘polycrisis’” of conflict, climate disruption, economic uncertainty and deepening inequality, he said, also pointing to renewed great Power competition, escalating cyberthreats, an off-track 2030 Agenda for Sustainable Development, surging humanitarian needs and a $4 trillion annual financing gap for developing countries.  “In this context, the role of ECOSOC has never been more relevant and important,” he stated.

    Under ‘Delivering Better’ Motto, President Outlines Priorities for Session

    Noting that his Presidency will be guided by the motto of “Delivering Better”, he underscored that doing so “is not an option — it is an imperative”.  Detailing what that motto means for Nepal, he underlined the need to strengthen multilateralism and rebuild trust, accelerate the 2030 Agenda, ensure effective coordination and coherence within the UN system, strengthen partnerships and ensure implementation and follow-up.  “ECOSOC must evolve from convening dialogue to driving measurable impact,” he urged.

    He also outlined several priorities for his presidency, including transforming agriculture and food systems to strengthen food security and rural resilience; championing digital inclusion and youth entrepreneurship; and advancing climate action and resilience.  On the latter, he said that special focus will be placed on mitigating glacial lake outburst floods and protecting vulnerable communities.  Among other initiatives, he said that his presidency will also give “due priority to promoting the interests of countries in special situations”, as “their unique vulnerabilities demand tailored solutions”.

    “ECOSOC is our place,” he stressed, encouraging all present to “bring forward your vision, your ideas and your transformative solutions”.  He added: “We must send a clear and united message — multilateralism delivers, and it delivers for everyone.”

    Following that statement, the newly elected Vice-Presidents — the representatives of Algeria, Armenia, Dominican Republic and Spain — as well as delegates from China, Australia, Djibouti, Republic of Korea, South Africa and the European Union, took the floor to thank the outgoing Bureau and express support for the incoming one.  Many specifically thanked Mr. Rae for his work over the past year.

    Speakers also acknowledged the challenges ahead and underlined the Council’s important role in addressing them at this critical juncture for development.  An observer for the Major Groups and Other Stakeholders Coordination Mechanism, for her part, underlined the need for civil society to be heard during that endeavour.

    Under-Secretary-General for Economic and Social Affairs Says Urgent Action, Stronger Cooperation Key to Advance Sustainable Development Goals

    “Through its convening power — across segments, forums and special meetings — the Council has shown its continued relevance,” said Li Junhua, Under-Secretary-General for Economic and Social Affairs.  Today’s interconnected world demands stronger cooperation to achieve sustainable solutions, he pointed out, calling for “urgent” action to advance the Sustainable Development Goals (SDGs) as only 35 per cent of targets are currently on track.

    “ECOSOC’s role is central,” he stressed, “to forge consensus, provide policy guidance and mobilize coordination action and follow-up.”  Its eightieth anniversary invites reflection, and upcoming reviews are key opportunities to ensure the realization of its full potential.  He concluded:  “I urge all Member States to continue actively engaging with the Council to advance the implementation of its mandates and the realization of the SDGs.”

    Council Adopts Provisional Agenda, Working Arrangements for Session

    Following that, the Council adopted, without a vote, its provisional agenda (document E/2026/1) and working arrangements (to be issued as document E/2026/L.1) for 2026.

    MIL OSI United Nations News –

  • MIL-OSI Asia-Pac: Hong Kong Science Museum’s new exhibition to showcase country’s achievements in aerospace, aviation and navigation (with photos)

    Source: Hong Kong Government special administrative region – 4

         Jointly presented by the Hong Kong Special Administrative Region Government and the China National Space Administration (CNSA), the “Bank of China (Hong Kong) Presents: National Development and Achievements Series – Endless Exploration: The Journey of Chinese Aerospace, Aviation and Navigation” exhibition will be launched at the Hong Kong Science Museum (HKScM) from tomorrow (August 1) to September 7. This is the first time for Hong Kong to showcase the country’s achievements in these three major arenas in the same exhibition. Featuring a rich array of artefacts, models, graphics, videos and interactive exhibits, the exhibition not only presents important developments in relevant fields, but also aims to inspire the public, especially youngsters, with a passion for technological innovation while enhancing national confidence in science and technology.
     
         Addressing the opening ceremony today (July 31), the Chief Secretary for Administration, Mr Chan Kwok-ki, said that the Chang’e-6’s successful return to earth bringing lunar soil samples from the far side of the Moon last year represents a global first, underscoring China’s leading position in lunar exploration. Hong Kong is proactively integrating into national development matters and making significant contributions, with local scientists having the opportunity to participate in major national scientific research projects. These achievements affirm Hong Kong’s unique advantages in contributing to national development with an international vision. He further said that this exhibition showcases the remarkable achievements of the Chang’e lunar exploration programme as well as the country’s remarkable accomplishments in aerospace, aviation and navigation. It also highlights Hong Kong’s role as a cultural hub connecting China with the world, telling the good story of China and promoting patriotism to the public.

         Other officiating guests today included the Chief Engineer of the CNSA, Dr Li Guoping; the First-level Inspector of the Department of Educational, Scientific and Technological Affairs of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region, Mr Liu Maozhou; the Vice Chairman and Chief Executive of Bank of China (Hong Kong) Limited, Mr Sun Yu; the Under Secretary for Culture, Sports and Tourism, Mr Raistlin Lau; the Convenor of the Working Group on Patriotic Education under the Constitution and Basic Law Promotion Steering Committee, Legislative Council Member, Dr Starry Lee; the Chairperson of the Science Sub-committee of the Museum Advisory Committee, Professor Alexander Wai; the Director of Leisure and Cultural Services, Ms Manda Chan; and the Museum Director of the HKScM, Mr Patrick Lau.
     
         This exhibition achieves several “firsts”, including the first concurrent display in Hong Kong of lunar soil samples collected from the far side and near side of the Moon by the Chang’e-6 and the Chang’e-5 respectively. Other exhibits debuting in Hong Kong include the Chang’e-6 returner and parachute, seawater samples collected from 10,000 metres under the sea, as well as models of the “three pearls” of the shipbuilding industry, namely an aircraft carrier, a luxury cruise ship and a liquefied natural gas carrier.
     
    Moreover, the HKScM will display large-scale aerospace, aviation and maritime models concurrently, including an approximately 12m-tall 1:5 Long March-5 launch vehicle and a full-size Fendouzhe full-ocean-depth manned submersible with a length of approximately 10m displayed outdoors, as well as a 1:8 model of a Y-20 heavy lifter with a wingspan of approximately 6m displayed indoors for the first time.
     
         Apart from the exhibits from the Mainland, the exhibition also presents Hong Kong’s significant contributions to the space and deep-sea exploration projects of the country. There are also interactive exhibits, namely the “Lunar Base”, the “Zhurong Rover Expedition” and more, for visitors to experience the challenges of building a lunar base and exploring Mars.
     
    Fixed-point guided tours will be provided on Saturdays and Sundays from August 9 to September 7. A series of lectures will be conducted on August 1 and August 4 by experts invited from the Mainland, who will share their knowledge of aviation, aerospace and navigation, as well as the achievements and future plans of the country in related fields. Members of the public are welcome to participate in the tours and lectures on-site. Other activities include experiment classes, workshops and demonstrations for the public to explore the scientific principles behind aviation and deep-sea navigation.
       
         The exhibition is jointly organised by the Leisure and Cultural Services Department and the News Center of the CNSA, as solely sponsored by the Bank of China (Hong Kong) Limited. It is one of the activities of the Chinese Culture Promotion Series. For details of the exhibition and activities, please visit the HKScM website at hk.science.museum/en/web/scm/exhibition/exploration2025.html.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: DH fully committed to promoting and supporting breastfeeding in support of World Breastfeeding Week (with photos)

    Source: Hong Kong Government special administrative region – 4

    To support World Breastfeeding Week, the Department of Health (DH) today (July 31), in collaboration with the Hospital Authority (HA), the Hong Kong Committee for United Nations Children’s Fund (UNICEF) and the Baby Friendly Hospital Initiative Hong Kong Association, held a celebration event for World Breastfeeding Week 2025 to fully promote and support breastfeeding.
     
    World Breastfeeding Week is observed annually between August 1 and 7. The theme of this year is “Prioritise breastfeeding and create sustainable support systems”, which urges all sectors in the community to attach importance to breastfeeding, collaborate to provide comprehensive support to increase the sustainability of breastfeeding with the aim to enhance overall maternal and child health.
     
    International research shows that breastmilk is the ideal food for infants. Breastmilk is safe, clean and contains antibodies which can help prevent many common childhood illnesses. Breastfed children perform better in intelligence tests, are less likely to become overweight or obese, and are less prone to develop diabetes later in life.
     
    Speaking at the celebration event, the Under Secretary for Health, Dr Cecilia Fan, noted that cross-sector collaboration is crucial in achieving comprehensive support. The Government has long attached importance to the promotion, protection and support for breastfeeding, and has set up a multisectoral Committee on Promotion of Breastfeeding to promote breastfeeding through collaboration and a multipronged approach.
     
    The DH has fully launched and expedited the accreditation process for Baby-Friendly Health Facilities at its Maternal and Child Health Centres (MCHCs). Seven newly accredited Baby-Friendly MCHCs this year received certificates from the Baby Friendly Hospital Initiative Hong Kong Association at the event today. Currently, there are 15 Baby-Friendly MCHCs under the DH, while the remaining 14 MCHCs are undergoing the accreditation process. All eight public hospitals with obstetrics departments under the HA have been accredited as Baby Friendly Hospitals (BFHs). Two private hospitals providing delivery services have also started the accreditation process, with one of them already accredited. The Government encourages more private hospitals to join the BFHs. A dedicated working group under the Committee on Promotion of Breastfeeding has been set up to enhance and reinforce baby friendly measures at hospitals with maternity services. Accredited facilities have to formulate infant feeding policies and action plans, provide relevant training to staff members and continue to monitor the implementation of breastfeeding support measures, etc.
     
    Apart from the healthcare systems, the Government is also committed to creating a breastfeeding-friendly environment. Since early 2019, the Government mandated the provision of babycare and breastfeeding facilities in the newly built government premises for public and staff members’ use. Separately, since 2017, the Government has specified detailed requirements in the Conditions of Sale of new commercial land sale sites, including the area and number of babycare facilities and/or lactation rooms that shall be provided in these commercial development projects. Regarding workplaces, the Government encourages the implementation of the Breastfeeding Friendly Workplace policy. The DH issued guidelines for employers and employees with specific advice on supporting breastfeeding to enable working mothers to continue breastfeeding after returning to work. The Health Bureau, the DH and the Hong Kong Committee for UNICEF jointly launched the large-scale community-based campaign Say Yes to Breastfeeding since 2015 which aims to enhance breastfeeding support among premises and workplaces. 
     
    Comprehensive support is also provided for premature and critically ill babies. Dr Fan expressed that the Hong Kong Breast Milk Bank (HKBMB) which commenced service early this year, provides the best possible nutrition to many clinically needy infants through breast milk donated by selfless lactating mothers. The celebration event also invited breastfeeding families, a peer counsellor and a mother who benefited from the HKBMB, to share their experiences and feelings, with a view to reaffirming the importance of breastfeeding and appealing to family members, the community and workplace to support breastfeeding.
     
    With the start of the World Breastfeeding Week, a series of promotional activities will be launched by the DH, including displaying of publicity materials across the territory, producing a new Announcement in the Public Interest for TV broadcasts and advocating breastfeeding through radio, newspapers, social media and webpages etc.
     
    The Government will continue to encourage all sectors of the community to further promote, protect and support breastfeeding with a view to creating a breastfeeding-friendly environment and enhancing the sustainability of breastfeeding.
     
    Members of the public can visit the thematic website www.fhs.gov.hk/wbw2025/index.html for more information on World Breastfeeding Week 2025.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Three incoming passengers convicted and jailed for importing or possessing duty-not-paid cigarettes and importing alternative smoking products (with photos)

    Source: Hong Kong Government special administrative region – 4

    Three incoming male passengers were sentenced to three to seven months’ imprisonment and fined between $1,000 and $2,000 at the West Kowloon Magistrates’ Courts yesterday (July 30) and today (July 31) for importing or possessing duty-not-paid cigarettes and failing to declare them to Customs officers, as well as for importing alternative smoking products, in contravention of the Dutiable Commodities Ordinance (DCO) and the Import and Export Ordinance (IEO).
     
    Customs officers intercepted the three incoming male passengers, aged between 30 and 46, at Hong Kong International Airport on May 19 and July 23. A total of about 80 000 duty-not-paid cigarettes and about 24 000 alternative smoking products, with an estimated market value of about $425,000 and a duty potential of about $264,000, were seized from their personal baggage. They were subsequently arrested.
     
    Customs welcomes the sentence. The custodial sentence has imposed a considerable deterrent effect and reflects the seriousness of the offences.
     
    Under the DCO, tobacco products are dutiable goods to which the DCO applies. Any person who imports, deals with, possesses, sells or buys illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $1 million and imprisonment for two years.
     
    Under the IEO, any person who imports an alternative smoking product into Hong Kong commits an offence. The maximum penalty upon conviction is a fine of $2 million and imprisonment for seven years.
     
    Members of the public may report any suspected illicit cigarette activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Rep. Dan Goldman’s Bipartisan Legislation Supporting Families of Fallen Law Enforcement Officers Passes Senate

    Source: US Congressman Dan Goldman (NY-10)

    Senate Adoption Tees Up Final Passage by the House in the Fall 

    ‘Chief Herbert D. Proffitt Act’ Ensures Those Who Give the Ultimate Sacrifice Are Not Unjustly Denied Benefits 

    Read the Bill Here 

    Washington, D.C. – Congressman Dan Goldman (NY-10) today celebrated the Senate’s passage of his bipartisan ‘Chief Herbert D. Proffitt Act,’ which would ensure the families of law enforcement officers who are killed as a result of their work on behalf of their communities are not unjustly denied benefits due to arbitrary retirement status restrictions. Under current law, families of officers who have retired but are later targeted and killed because of their past service are denied death benefits under the Public Safety Officers’ (PSOB) program. The unanimous Senate vote sets the legislation on a glide path to final passage by the House when members come back in session in September. Congressman Goldman introduced the legislation with Congressman Barr (KY-06) in February.  

    “We have an obligation to care for those who pay the ultimate price while serving in the line of duty, even after they have retired,” Congressman Dan Goldman said. “At a time when partisan gridlock is grinding Congress to a halt, I’m encouraged that both parties came together to pass this commonsense legislation honoring our fallen heroes. I urge Republican leadership to bring this bill to the House Floor in September and ensure that any law enforcement officers killed or injured in the line of duty receive the benefits they deserve—regardless of retirement status.” 

    Chief Herbert D. Proffitt dedicated his life to serving others, first as a U.S. Army veteran of the Korean War and then as a law enforcement officer for 55 years before retiring in 2009 as Chief of the Tompkinsville, Kentucky Police Department. On August 28, 2012, Chief Proffitt was tragically shot and killed in his driveway by an individual he had arrested a decade earlier. Although his murder was a direct retaliation for his service in uniform, his family was denied benefits under the PSOB program simply because he had retired. 

    Congressman Dan Goldman has made safeguarding public safety officers and first responders a key priority of his time in office.   

    In the Winter of 2024, Goldman publicly condemned the House Republican’s rejection of the bipartisan budget bill, which would have fully funded the World Trade Center Health Program (WTCHP).  
    In the Summer of 2024, Goldman, alongside other New York lawmakers, introduced a bipartisan, bicameral bill to address any funding gap or shortfall for World Trade Center Health Program. The ‘9/11 Responder and Survivor Health Funding Correction Act of 2024’ intended to secure permanent and mandatory funding for the WTCHP, to prevent any future funding shortfall.   
    In the Fall of 2023, Goldman joined Congressman Bill Pascrell (NJ-09), Senator Amy Klobuchar (D-MN), and Senator Kevin Cramer (R-ND) in introducing the ‘Honoring Our Fallen Heroes Act’ (Honor Act). This legislation would recognize occupational cancer deaths as line-of-duty deaths, and ensure fire fighters, police, and EMS personnel receive benefits under the Public Safety Officers’ Benefits (PSOB) program. 

    ### 

    MIL OSI USA News –

  • US appeals court scrutinizes Trump’s use of tariffs as trade deadline looms

    Source: Government of India

    Source: Government of India (4)

    U.S. appeals court judges sharply questioned on Thursday whether President Donald Trump’s tariffs were justified by the president’s emergency powers, as lawyers for states and businesses challenging the measures argued he exceeded his authority.

    The U.S. Court of Appeals for the Federal Circuit in Washington, D.C., is considering the legality of “reciprocal” tariffs that Trump imposed on a broad range of U.S. trading partners in April, as well as tariffs imposed in February against China, Canada and Mexico.

    In hearing arguments in two cases brought by five small U.S. businesses and 12 Democratic-led U.S. states, judges pressed government lawyer Brett Shumate to explain how the International Emergency Economic Powers Act (IEEPA), a 1977 law historically used for sanctioning enemies or freezing their assets, gave Trump the power to impose tariffs.

    Shumate said that the law allows the president to have “extraordinary” authority in an emergency, including the ability to stop imports completely. He said IEEPA authorizes tariffs because it allows a president to “regulate” imports in a crisis.

    The judges seemed dubious of this sweeping argument.

    “IEEPA doesn’t even say tariffs, doesn’t even mention them,” Judge Jimmie Reyna said.

    The arguments – one day before Trump plans to increase tariff rates on imported goods from nearly all U.S. trading partners – mark the first test before a U.S. appeals court of the scope of his tariff authority. The president has made tariffs a central instrument of his foreign policy, wielding them aggressively in his second term as leverage in trade negotiations and to push back against what he has called unfair practices.

    The court adjourned after about an hour-and-a-half of oral arguments. The judges did not say when they would rule, and the losing side will almost certainly appeal quickly to the U.S. Supreme Court.

    Trump, the first president to use IEEPA to impose tariffs, has said the April tariffs were a response to persistent U.S. trade imbalances and declining U.S. manufacturing power.

    He said the tariffs against China, Canada and Mexico were appropriate because those countries were not doing enough to stop illegal fentanyl from crossing U.S. borders, a claim the countries have denied.

    The states and businesses challenging the tariffs argued that they are not permissible under IEEPA and that the U.S. Constitution grants Congress, and not the president, authority over tariffs and other taxes.

    “No trade law in 200 years has been interpreted to give the president this power,” Neal Katyal, a lawyer for the businesses, said.

    Judge Kimberly Moore challenged Benjamin Gutman, representing the state of Oregon, on his argument that the U.S. trade deficit is not an “unusual and extraordinary” threat that would trigger IEEPA’s emergency powers, noting that Trump said the trade deficit contributed to compromised military readiness.

    “That bothers me – I’m a little concerned about compromised military readiness,” Moore said. “How about you?”

    The case is being heard by a panel of all of the court’s active judges, eight appointed by Democratic presidents and three appointed by former Republican presidents.

    TRADE NEGOTIATIONS

    Tariffs are starting to build into a significant revenue source for the federal government, with customs duties in June quadrupling to about $27 billion, a record, and through June have topped $100 billion for the current fiscal year. That income could be crucial to offset lost revenue from Trump’s tax bill passed into law earlier this month.

    But economists say the duties threaten to raise prices for U.S. consumers and reduce corporate profits. Trump’s on-again, off-again tariff threats have roiled financial markets and disrupted U.S. companies’ ability to manage supply chains, production, staffing and prices.

    On May 28, a three-judge panel of the U.S. Court of International Trade said IEEPA did not authorize tariffs related to longstanding trade deficits.

    The Federal Circuit has allowed the tariffs to remain in place while the litigation continues.

    The case will have no impact on tariffs levied under more traditional legal authority, such as duties on steel and aluminum imports.

    Trump’s Department of Justice has argued that limiting the president’s tariff authority could undermine ongoing trade negotiations, while other Trump officials have said that negotiations have continued with little change after the initial setback in court.

    The president recently announced trade deals that set tariff rates on goods from the European Union and Japan, following smaller trade agreements with Britain, Indonesia and Vietnam.

    Trump has set an August 1 date for higher tariffs on countries that don’t negotiate new trade deals.

    Mexican President Claudia Sheinbaum said on Thursday that Trump would pause new tariffs set to go into effect on the U.S.’s southern neighbor and a 90-day period to work on a trade deal.

    (Reuters)

  • MIL-OSI United Kingdom: Highland Council hails the importance of Nigg, as port changes hands

    Source: Scotland – Highland Council

    Wind turbine components at Nigg Bay. Pic Highland Council

    Highland Council has today hailed the importance of the Port of Nigg to the region’s economy after ownership of the facility formally changed hands.

    The multi-sector energy port forms part of the Inverness and Cromarty Firth Green Freeport – a partnership of public and private sector organisations, including The Highland Council, which aims to ensure the Cromarty Firth and wider region becomes a major global hub for green energy, delivering transformational benefits to Highland communities and the decarbonisation agenda.

    The Port of Nigg has been sold by Global Energy Group (GEG) to Mitsui Group, a Japanese trading and investment group which has been an investor in GEG since 2012 and which will now drive the next stage of development at Nigg.

    Highland Council praised the contributions made by Roy MacGregor and Global Energy Group, and wished the new owners continued success.

    Highland Council leader Raymond Bremner said: “Roy MacGregor and the Global Energy Group have established an outstanding facility which has been integral to the establishment of the Inverness and Cromarty Firth Green Freeport and which has led the way in supporting the country’s energy transition.

    “The legacy they leave is a substantial one – significant inward investment and jobs for the Highlands.

    “We wish the new owners every success as they drive the next stage of development at Nigg, building on the solid foundations which have delivered long-term, secure, skilled employment.”

    Highland Council convener Bill Lobban said: “Green energy continues to offer hope and opportunity for present and future generations to develop a highly skilled career without having to leave the region.

    “Though under new ownership, we have no doubt the port will continue to innovate and grow as Scotland’s energy transition continues apace, and Nigg will continue to be a tribute to all that Roy has achieved to date.”

    31 Jul 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Russia plans to open rail service to Laos via China — Russian President V. Putin

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    Moscow, July 31 /Xinhua/ — Given the growing flow of goods to and from Laos, Russia intends to open a railway connection with that country via China, Russian President Vladimir Putin said on Thursday following talks with Lao President Thongloun Sisoulith.

    The Russian leader pointed out that trade between Russia and Laos is currently actively developing. “Last year, trade turnover increased by 65 percent, and this year its growth rate was about 20 percent,” V. Putin noted.

    The Lao President is currently on an official visit to Russia. On Wednesday, he met with the chairman of the United Russia party and deputy chairman of the Russian Security Council Dmitry Medvedev. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI New Zealand: Hunters and landowners called to action: National Wild Goat Hunting Competition returns

    Source: NZ Department of Conservation

    Date:  01 August 2025

    The National Wild Goat Hunting Competition is a nationwide initiative to raise awareness of the environmental and agricultural damage caused by wild goats.

    Running from 1 August to 26 November 2025, the competition encourages hunters and landowners across Aotearoa New Zealand to tackle the growing wild goat population.

    Wild goats are prolific breeders and pose a serious threat to native biodiversity and farmland. This competition is a practical and rewarding way for communities to contribute to conservation efforts while enjoying the outdoors.

    Already, ten landowners have registered their interest with the competition to get help reducing wild goat numbers on their land. Many are motivated not just by wild goat control, but by the opportunity to support conservation.

    Doug Jacobs, an NZDA member, took part in the 2024 competition with a focus on hunting responsibly on private land.

    “I put up a light-hearted post on our local rural community Facebook page,” Doug says. “I mentioned the DOC/NZDA National Wild Goat Hunting Competition, my NZDA membership, and the protections that come with it. I also talked about the Landowner Assist process, which helps set clear ground rules between hunters and landowners.”

    The Landowner Assist process, developed by NZDA, with input from DOC, Federated Farmers, and Forestry Owners Association, provides a clear framework for safe and respectful hunting on private property. It covers access boundaries, carcass disposal, and meat handling ensuring transparency and trust. Landowners can view the Landowner Assist document online via the National Wild Goat Hunting Competition website to see how it works and what to expect.

    Doug’s post caught the attention of a landowner dealing with wild goats crossing over from a neighbouring property. “We met up and went through the Landowner Assist document together,” Doug explains. “We covered where I could hunt, what to do with the carcasses, and how we’d handle the meat. It was all very straightforward.”

    The landowner later told Doug that without the professional framework provided by NZDA and the Landowner Assist documentation, they wouldn’t have responded at all. That trust and clarity made all the difference.

    Just a week later, Doug had four goat tails to submit for the competition, nine kilograms of salami on the way, and plans for a few hearty curries. “It was a rewarding experience,” he says. “Not just for the meat, but for the connection it built and the contribution to managing a local wild goat problem.”

    The National Wild Goat Hunting Competition is about more than just hunting. It’s about protecting native ecosystems, supporting farmers, and encouraging responsible community involvement.

    This year, the competition has the private landowner category open again. Landowners who register can be paired with vetted NZDA hunters and go in the draw to win over $3,200 worth of prizes from Bushnell and Hunting & Fishing NZ Ltd.

    The hunter categories also have great prizes up for grabs, including gear from Hunting & Fishing NZ, thermal monoculars from Nocpix, a tent from M.I.A, binoculars from Bushnell, freeze dried meals from Real Meals, a wild goat hunt with the NZ Hunter crew, and more. There’s over $70,000 worth of prizes, it’s a great time to get involved.

    “We want to see wild goat hunting become a regular feature in the hunting calendar,” says Mike Perry, Wild Animals Manager at DOC.

    Thinking of entering this year’s comp? Entries are open from 1 August to 26 November. Whether you’re hunting on public land or teaming up with a local landowner, you never know where it might take you.

    The National Wild Goat Hunting Competition is brought to you by the Department of Conservation and the New Zealand Deerstalkers Association. It is supported by Federated Farmers of NZ, Hunting & Fishing NZ, and Te Tari Pūreke Firearms Safety Authority.

    Contact

    MIL OSI New Zealand News –

  • MIL-OSI: 2025 FIRST HALF RESULTS : MOBILIZE FINANCIAL SERVICES DELIVERS SOLID GROWTH

    Source: GlobeNewswire (MIL-OSI)

       
    PRESS RELEASE
      
    Paris, 31st July 2025 

      
     

    2025 FIRST HALF RESULTS :
    MOBILIZE FINANCIAL SERVICES DELIVERS SOLID GROWTH

    Mobilize Financial Services records a progression in new financing by 3.8% in the first semester of 2025 compared to the same period in 2024. This performance reflects a rise in the average amount financed and the commercial dynamics of Renault Group’s brands, Nissan and Mitsubishi, supported by a robust growth in registrations.

    With a progression of pre-tax profit by 9.7%, Mobilize Financial Services confirms the relevance of its strategy and its commitment to more sustainable mobility, in line with new uses.

    This performance confirms Mobilize Financial Services’ ability to efficiently support the strategy of its automotive partners, while meeting the expectations of customers in quest of flexible and competitive financing solutions.

    KEY INDICATORS

    Commercial performance1

    • The amount of new financing progresses by 3.8% compared to the first semester of 2024, driven by a sustained commercial dynamic.
    • 632,994 contracts were financed in the first semester of 2025, a slight increase in volume compared to the same period of the previous year (+0.8%).
    • The penetration rate on electric vehicles reached 43.9% at the end of June 2025, a positive difference of 6.5 points compared to other motorization.

    Financial performance

    • The Average Performing Assets (APAs) register a growth of 7.3% compared to the end of June 2024, confirming the robustness of the portfolio.
    • The Net Banking Income progressed by 5.3% over one year, to reach 1,132 million euros in the first semester of 2025.
    • The pre-tax income of the group increased to 607 million euros, increasing by 9.7% compared to the first semester of 2024.

    “In the beginning of the year 2025, we reaffirmed our ambition to support our customers as they transition to more sustainable mobility, by offering products and services in line with new uses. The half-year results support the robustness of our economic model and concretely illustrate our commitment to driving more responsible mobility, fully aligned with the ambitions of Renault Group”, declares Martin Thomas, Chief Executive Officer of Mobilize Financial Services.

    A SUSTAINED COMMERCIAL DYNAMIC, IN A RECOVERING MARKET

    In an automotive market with slight progression by 0.7%, the volumes of Renault Group, Nissan and Mitsubishi reached 1.19 million vehicles, increasing by 2.3% compared to the first semester of 2024. In this context, Mobilize Financial Services records a growth of its new financing by 3.8% (excluding cards and personal loans), for a total of 11.1 billion euros, driven by an increase in registrations and increases of the average financed amount.

    Excluding companies consolidated by equity method, the overall penetration rate stands at 39.6%, slightly down by 0.4 point compared to the same period of last year. The penetration rate on electrified vehicles, as for it, reaches 43.9% at the end of June 2025, +6.5 points compared to other types of motorization.

    In total, 632,994 new contracts were financed in the first semester of 2025, an almost stable volume (+0.8 %) compared to 2024. The financing activity of used vehicles recorded a slight decrease by 0.4% with 153,759 contracts financed.

    Benefitting from a growing operational leasing market, Mobilize Lease&Co financed in the first semester of 2025, 120,039 operational leasing contracts for private and professional customers and reached a fleet under management of 655,000 vehicles, representing a growth by 4% compared to the first semester of 2024.

    The Average Performing Assets (APAs) reached 58.9 billion euros, increasing by 7.3% compared to the first semester of 2024. APAs related to customer activity (private and professional) rose to 47.4 billion euros (+7%), whereas those related to dealership activity progressed by 8.6% to each 11.5 billion euros.

    Finally, 1.8 million insurance and service contracts were sold during the semester, confirming the relevance of the additional offers proposed by Mobilize Financial Services.

    A ROBUST FINANCIAL PERFORMANCE AND A DIVERSIFIED RE-FINANCING STRATEGY

    In the first semester of 2025, the Net Banking Income (NBI) of Mobilize Financial Services amounted to 1,132 million euros, increasing by 5.3 % compared to the end of 2024. This performance is mainly the result of an improvement in the financial margin as well as the growth of outstanding loans.

    The operating costs reached 389 million euros, increasing by 24 million euros compared to last year. This change is explained by the present of non-recurring items having reduced the expenses in the first semester of 2024. Reported to the Average Productive Assets, operating expenses remain stable at 1.33%.

    The pre-tax income stands at 607 million euros, against 553 million, one year earlier, a progression by 9.7 %, driven by the rise of NBI. The share of income from associate companies progressed slightly by +0.9 million euros.

    In a context marked by investor caution in the face of economic and geopolitical uncertainties, the group raised 1.3 billion euros on the bond market in the first semester of 2025. Three public issued were carried out:

    • 2 senior bonds in Euros of 850 million euros (3 years) and 500 million euros (5 years, Green Bond)
    • 1 Tier subordinated debt issue of 500 million euros

    This latest transaction enables expending the maturity profile of the subordinated debt and falls within an active capital management strategy, aiming to maintain a solid financial structure and robust safety margins. Besides, the subsidiaries of the group in Argentina, Brazil, Korea, Morocco and Poland raised a total of 500 million euros on local bond markets.
    In the securitization market, the group placed 624 million euros in automobile loan-backed securities via its German branch. Private securitization transactions in the United States (automobile loans) and in Germany (leasing) saw their revolving period extended by two years.

    Finally, the savings collection activity, launched in 2012 and present in seven European countries (France, Germany, Austria, United Kingdom, Spain, the Netherland and Poland) continues to play a key role in the diversification of financing sources. The deposits collected reached 30.5 billion euros representing 49.1% of net assets at the end of June 2025.

    1 The factoring contracts for short-term rental companies were excluded from 2025 onwards. These contracts represented 32,000 contracts in the first half of 2024, representing a positive impact of 2.8 points on the penetration rate. A hypothetical calculated based on the 2024 figures.

    Press contacts

    William Servigne

    william.servigne@mobilize-fs.com

    Hopscotch PR for Mobilize Financial Services

    +33 (0)1 41 34 23 06

    mobilize@hopscotch.fr

    About Mobilize Financial Services

    Attentive to the needs of all its customers, Mobilize Financial Services, a subsidiary of Renault Group, creates innovative financial services to build sustainable mobility for all. Mobilize Financial Services, which began operations over 100 years ago, is the commercial brand of RCI Banque SA, a French bank specializing in automotive financing and services for customers and networks of Renault Group, and also for the brands Nissan and Mitsubishi in several countries. 

    With operations in 35 countries and over 4,000 employees, Mobilize Financial Services financed more than 1,2 million contracts (new and used vehicles) in 2023 and sold 3,7 million service contracts. 

    At the end of June 2025, average earning assets stood at58.9 billion euros of financing and the pre-tax income at 607 million Euros.

    Since 2012, the group has deployed deposits collecting activity in several countries. At the end of June 2025, the net amount of deposits collected represented 30.5 billion euros, representing 49.1% of the company’s net assets.

    To find out more about Mobilize Financial Services: www.mobilize-fs.com/

    Attachment

    The MIL Network –

  • MIL-OSI: SONY Joins the AR Alliance to Advance the Future of Augmented Reality Wearable Devices

    Source: GlobeNewswire (MIL-OSI)

    PISCATAWAY, N.J., July 31, 2025 (GLOBE NEWSWIRE) — The AR Alliance announces that SONY has joined the alliance as an associate member.

    The AR Alliance provides a supportive and neutral environment for organizations of all sizes to take an active role in advancing and strengthening the augmented reality hardware development ecosystem. Diverse organizations across the expanding, global AR ecosystem work together through The AR Alliance to speed innovation and breakthrough technologies and processes for building AR wearables and devices that create meaningful and positive experiences for users.

    “We are building AR together” said Dr. Bharath Rajagopalan, Chair of The AR Alliance and Director of Strategic Marketing, STMicroelectronics. “The promise of AR and its potential market are so vast that there is ample room for all our member companies, and stakeholders, to succeed together. The AR Alliance is the place where concrete work takes place to harmonize approaches for advancing, unifying, and growing the global AR supply chain as well as accelerating innovation. We are pleased to welcome Magic Leap to the AR Alliance and to join us in this important work and bring their technology leadership to help enable the AR market.”

    About The AR Alliance

    The AR Alliance Founding Members comprise STMicroelectronics, META, Essilor Luxottica, Corning, Dispelix, Optofidelity, MICROOLED, Google, and Qualcomm.

    Organizations of every size and in any sector of the ecosystem are respected, heard, and supported in The AR Alliance’s non-competitive, collaborative environment. Flexible membership levels remove barriers to access, enabling companies of varying stages of maturity and resources to engage.

    To learn more about membership in The AR Alliance, please visit www.thearalliance.org.

    About SONY
    SONY is a global leader in advanced imaging and display technologies, driving high-fidelity Augmented Reality (AR) and immersive entertainment experiences. With decades of innovation in optics, sensors, and spatial content, Sony continues to expand what’s possible in AR—pushing the boundaries of visual clarity, real-time sensing, and interactive design. Its next-generation AR solutions integrate proprietary displays, cutting-edge sensors, and powerful content platforms to create lifelike, engaging experiences for creators and consumers worldwide. Headquartered in Tokyo, Japan, Sony operates a global network of research and development centers advancing the future of AR and immersive technologies.

    Media Contact:
    Brianna Rich, Program Manager
    Brianna.rich@isto.org

    The MIL Network –

  • MIL-OSI: 1-Hour Payday Loans No Credit Check: GreendayOnline Expands Digital Services to Serve 32 States Where Traditional Lending Remains Legal

    Source: GlobeNewswire (MIL-OSI)

    Digital lending platform addresses growing demand for accessible emergency funding across expanded geographic footprint

    Dallas, Texas , July 31, 2025 (GLOBE NEWSWIRE) — GreendayOnline, a leading digital lending platform, today announced the expansion of its services to 32 states where payday loan regulations permit 1-hour payday loans no credit check operations. This strategic geographic expansion positions GreendayOnline as a comprehensive solution for borrowers searching for “loans no credit check”, “instant approval”, and “online same day” funding options across a broader regional footprint.

    The expansion comes as search volume data reveals unprecedented demand for emergency lending solutions, with queries like “hour payday loans”, “payday loan no credit check”, and “loans online no credit check” experiencing significant increases across GreendayOnline‘s target markets. Industry analysis shows that over 12 million Americans annually seek short-term lending solutions, yet geographic limitations have historically restricted access to legitimate direct lender services. GreendayOnline now serves borrowers seeking online no credit check instant loan for bad credit solutions with streamlined digital processes.

    What Are 1-Hour Payday Loans No Credit Check and How GreendayOnline Delivers Fast Approval

    When financial emergencies strike, millions of Americans turn to search engines with desperate queries: “1 hour payday loans”, “bad credit” solutions, and “guaranteed approval direct lender” services. Behind every search for “payday loans online no credit check” lies a pressing financial need that traditional banking cannot address within the required timeframe.

    Understanding One Hour Payday Loans with Instant Approval Mechanism

    GreendayOnline’s 1-hour payday loans represent a streamlined approach to emergency lending that prioritizes speed without sacrificing borrower protection. Unlike traditional banking products that can take days or weeks for approval, GreendayOnline’s platform delivers decisions within minutes and funding within an hour of completed applications. The platform specializes in loan no credit check direct services that eliminate traditional banking barriers.

    The company’s instant approval process evaluates multiple data points beyond traditional credit metrics:

    1. Income verification through bank account analysis
    2. Employment stability assessment
    3. Debt-to-income ratio calculations
    4. Previous lending history evaluation
    5. Real-time affordability analysis

    “The term ‘1 hour payday loans no credit check’ has become shorthand for accessible emergency lending,” explained Tarquin Nemec, GreendayOnline’s Public Relations officer. “Our platform transforms what was once a lengthy, bureaucratic process into a seamless digital experience that respects both urgency and responsibility.”

    How Loans No Credit Check Work Through GreendayOnline’s Direct Lender Network

    The concept of “loans with no credit check direct lender” often confuses borrowers who assume their credit score is irrelevant to the lending decision. GreendayOnline clarifies this misunderstanding by focusing on current income while maintaining responsible lending standards. The platform provides no check loans guaranteed approval direct lender connections for qualified applicants.

    GreendayOnline’s network of licensed direct lenders utilizes soft credit inquiries that leave borrowers’ credit scores unaffected. This approach allows the platform to assess creditworthiness without a hard credit pull while still maintaining due diligence standards required by state regulations.

    Credit Check vs Soft Credit Inquiry: Why Your Credit Score Remains Unaffected

    Traditional lending involves hard credit inquiries that can temporarily lower credit scores by 5-10 points. GreendayOnline’s soft credit approach means that borrowers searching for “credit check loans” or “payday loans with no credit” requirements can explore their options without damaging their credit profiles. The platform offers loans no credit check guaranteed approval through its streamlined verification process.

    The distinction matters significantly for borrowers with low credit scores who cannot afford additional credit damage. GreendayOnline’s no credit check methodology evaluates the ability to repay the loan through alternative data sources, ensuring responsible lending without traditional credit barriers.

    GreendayOnline’s Geographic Expansion Brings Online Payday Loans to 32 States

    The digital lending landscape has evolved dramatically, with online payday loans now representing over 60% of total market volume. GreendayOnline’s expansion to 32 states addresses a critical gap in market coverage, particularly for borrowers in underserved communities where traditional payday storefronts may be limited or non-existent.

    Traditional Payday Lending Locations vs GreendayOnline’s Digital Reach

    While approximately 13,700 traditional payday storefronts operate nationwide, geographic concentration leaves significant coverage gaps. GreendayOnline’s digital platform eliminates location barriers, providing consistent access to small payday loans online same day services regardless of physical proximity to lending locations.

    The company’s research reveals striking disparities in lending access:

    • Rural areas: 73% lack physical payday lending locations within 25 miles
    • Urban centers: Average of 2.3 storefronts per 10,000 residents
    • Suburban regions: Limited evening and weekend availability
    • Digital platforms: 24/7 accessibility with consistent service standards

    State-by-State Analysis: Where Payday Loan No Credit Check Services Are Available

    GreendayOnline’s 32-state footprint covers regions where “payday loan no credit check” services remain legally permissible under current regulatory frameworks. This strategic geographic focus ensures compliance while maximizing borrower access to legitimate lending options. In California, the focus is on the famous 255 payday loans online, due to loan amount restrictions.

    Key expansion states include major population centers where demand for loans for bad credit in 2025 and short-term loans continues growing. Here is the full list in alphabetical order: Alabama, Alaska, California, Colorado, Delaware, Florida, Hawaii, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Mississippi, Missouri, Nevada, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, and Wyoming.

    The company’s analysis shows particular opportunity in states where existing options remain limited despite legal permissibility.

    How GreendayOnline Serves Underbanked Communities Through Online Same Day Access

    Underbanked populations—estimated at 63 million Americans—face particular challenges accessing emergency credit. Search patterns reveal these communities frequently search for “payday loans online guaranteed approval”, “loans guaranteed approval”, and “instant payday loans online guaranteed” options as traditional banking relationships prove inadequate for urgent financial needs.

    GreendayOnline’s entirely online platform removes common barriers that underbanked consumers face:

    1. No physical branch visits required
    2. Minimal documentation through digital verification
    3. Bank account integration for streamlined processing
    4. Mobile-optimized application experience
    5. Multiple communication channels for customer support

    1 Hour Payday Loans Online: GreendayOnline’s Application and Approval

    The promise of 1 hour payday loans online requires sophisticated technology infrastructure capable of processing applications, verifying information, and disbursing funds within compressed timeframes. GreendayOnline’s platform architecture supports this commitment through automated decision-making and real-time bank integration. The platform offers credit payday loans with 1-hour processing for urgent financial needs.

    Completing a Secure Online Form for Loans Online No Credit Check

    GreendayOnline’s application process begins with completing a secure online form designed for maximum efficiency and security. The platform’s streamlined interface collects essential information while minimizing borrower effort and completion time.

    The application captures key data points necessary to evaluate loans online no credit check:

    • Personal identification information
    • Employment and income verification
    • Bank account details for funding and repayment
    • Contact information for communication
    • Loan amount and preferred terms

    Advanced encryption protects all submitted information, ensuring that borrowers’ financial data remains secure throughout the approval procedure. The platform’s mobile-responsive design accommodates borrowers who prefer smartphone applications over desktop interfaces.

    Income Rather Than Credit History: GreendayOnline’s Alternative Assessment Method

    GreendayOnline’s underwriting philosophy prioritizes income rather than credit history when evaluating loan approval decisions. This approach recognizes that credit scores may not accurately reflect current financial capacity, particularly for borrowers who have experienced temporary financial disruptions. The platform provides services that focus on current financial ability rather than past credit issues.

    The platform’s alternative assessment methodology examines:

    • Current monthly income stability
    • Bank account transaction patterns
    • Employment verification through multiple data sources
    • Existing debt obligations and payment history
    • Cash flow analysis for repayment capacity

    This comprehensive evaluation enables GreendayOnline to serve borrowers who might struggle with credit check payday loans from traditional lenders offering no credit check while maintaining responsible lending standards.

    From Application to Account Within an Hour: The GreendayOnline Timeline

    GreendayOnline’s commitment to “account within an hour” funding reflects significant technology investment in automated processing and real-time financial institution integration. The typical timeline progresses as follows:

    0-5 minutes: Application submission and initial verification 5-15 minutes: Income rather than credit assessment and underwriting review 15-30 minutes: Loan approval notification and terms confirmation 30-60 minutes: Fund disbursement to borrower’s designated account

    This accelerated timeline addresses the urgent nature of most 1 hour payday loans requests while ensuring thorough evaluation of each application.

    Payday Loans Online No Credit Check: Loan Options and Terms Through GreendayOnline

    GreendayOnline’s payday loans online no credit check offerings encompass multiple product variations designed to accommodate diverse borrower needs and financial circumstances. The platform’s loan options reflect both market demand and regulatory requirements across its 32-state operating region.

    Loan Amounts and Repayment Terms for 1 Hour Payday Loans No Credit

    Loan amounts available through GreendayOnline’s platform range from $100 to $1,000, with specific limits varying by state regulation and individual borrower qualification. The company’s “hour payday loans no credit” products feature flexible repayment structures designed to align with borrowers’ pay cycles.

    Standard loan terms include:

    • Repayment periods: 14-30 days based on borrower preference
    • Extension options: Available in states where legally permitted
    • Early repayment: No prepayment penalties
    • Automatic renewal: Optional with explicit borrower consent
    • Payment scheduling: Aligned with pay day cycles when possible

    The platform ensures that loans due dates are clearly communicated and aligned with borrower income schedules to minimize payment conflicts.

    Understanding APR and Loan Terms for Payday Loans with No Credit Requirements

    Transparency in loan terms represents a cornerstone of GreendayOnline’s approach to payday loans with no credit requirements. The platform provides clear APR calculations and fee structures before borrowers commit to any loan agreement.

    GreendayOnline’s fee structure adheres to state regulatory maximums while offering payday loans online with no credit check with a competitive marketplace. Borrowers receive detailed breakdowns of all costs associated with their payday lending experience, including:

    1. Principal loan amount
    2. Finance charges and fees
    3. Total repayment amount
    4. Effective APR calculation
    5. Payment due dates and methods

    Multiple Loan Offers vs Single Direct Lender: GreendayOnline’s Approach

    Unlike platforms that provide multiple loan offers from various lenders, GreendayOnline operates as a direct lender platform, streamlining the borrowing experience and eliminating confusion over varying terms and conditions. This approach ensures consistent service standards and simplified communication throughout the lending relationship.

    Bad Credit and Personal Loan Alternatives: How GreendayOnline Serves All Credit Types

    The intersection of bad credit and emergency lending needs creates particular challenges for borrowers who face rejection from traditional personal loan providers. GreendayOnline’s inclusive approach recognizes that financial history may not reflect current financial stability or repayment capacity.

    Loans for Bad Credit: GreendayOnline’s No Hard Credit Pull Policy

    GreendayOnline’s loans for bad credit methodology eliminates the anxiety many borrowers experience when applying for emergency funding. The platform’s no hard credit pull policy ensures that application inquiries do not involve a hard credit check that could further damage struggling credit profiles.

    This approach particularly benefits borrowers who have experienced:

    • Recent financial hardships affecting credit scores
    • Medical debt or unexpected emergency expenses
    • Employment disruptions or income reductions
    • Limited credit history or “thin file” credit profiles
    • Previous payday lending experiences

    Short-Term Loans vs Personal Loan Options for Low Credit Borrowers

    While personal loan products typically require extensive credit evaluation and longer approval timeframes, GreendayOnline’s short-term loans provide immediate access to emergency funding for borrowers with low credit scores. The platform’s products bridge the gap between expensive credit card advances and traditional installment lending.

    Short-term loan advantages include:

    • Faster approval and funding timelines
    • Lower qualification requirements
    • No collateral or cosigner requirements
    • Flexible repayment scheduling
    • Minimal impact on existing credit relationships

    Why Credit History Doesn’t Determine Loan Approval with GreendayOnline

    GreendayOnline’s underwriting philosophy recognizes that credit history represents past financial behavior rather than current repayment capacity. The platform’s alternative evaluation methods focus on real-time financial indicators that better predict successful loan repayment.

    Key evaluation factors beyond credit scores include:

    1. Current employment status and income stability
    2. Bank account activity and cash flow patterns
    3. Existing debt obligations and payment history
    4. Length of banking relationship and account management
    5. Geographic and demographic risk factors

    Instant Payday Loans Online Guaranteed Approval: GreendayOnline’s Direct Lender Network

    The concept of guaranteed approval in lending requires careful interpretation, as responsible lenders must maintain underwriting standards while maximizing approval rates. GreendayOnline’s approach to “instant payday loans online guaranteed approval” balances accessibility with prudent risk management.

    Guaranteed Approval Direct Lender Services vs Traditional Banking

    While no legitimate lender can offer truly guaranteed approval without any qualification requirements, GreendayOnline’s “guaranteed approval direct lender” approach maximizes approval rates through flexible underwriting criteria and alternative data evaluation methods.

    The platform’s approval rates significantly exceed traditional banking standards:

    • GreendayOnline approval rate: 89% for qualified applicants
    • Traditional bank personal loans: 23-31% approval rates
    • Credit union emergency loans: 45-52% approval rates
    • Credit card cash advances: 67% approval for existing cardholders

    Payday Loans Online Guaranteed Approval Process Through Licensed Lenders

    GreendayOnline’s “payday loans online guaranteed approval” process operates exclusively through licensed direct lenders compliant with state and federal regulations. This commitment ensures borrower protection while maintaining the accessibility that emergency lending requires.

    The platform’s network of lenders offering payday loans undergoes rigorous vetting to ensure:

    • Full licensing compliance in all operating states
    • Adherence to maximum fee and rate regulations
    • Transparent disclosure of all loan terms and conditions
    • Proper data security and privacy protections
    • Responsive customer service and dispute resolution

    How GreendayOnline Connects Borrowers with Licensed Direct Lenders

    GreendayOnline’s role as a connector between borrowers seeking “loans guaranteed approval direct lender” services and qualified lending partners streamlines the emergency funding process. The platform’s technology matches borrower profiles with appropriate offers based on qualification criteria and funding requirements.

    Online Loans No Credit Check: GreendayOnline’s Technology and Market Position

    As the digital lending landscape continues evolving, GreendayOnline’s position in the market, dedicated to online loans with no credit check, reflects both technological sophistication and market understanding. The platform’s expansion to 32 states positions it as a significant player in the estimated $35 billion annual payday lending market.

    Lenders Offering 1 Hour Payday Loans Through GreendayOnline’s Platform

    GreendayOnline’s network of lenders offering 1 hour payday loans represents carefully vetted financial institutions committed to responsible lending practices and rapid decision-making. The platform’s technology enables lenders through a secure online portal to access borrower applications and make real-time lending decisions.

    Partner lender qualifications include:

    • State licensing for payday lending operations
    • Minimum capitalization requirements for lending volume
    • Technology integration capabilities for real-time processing
    • Customer service standards meeting platform requirements
    • Compliance monitoring and reporting capabilities

    Credit Check Loans Guaranteed Approval vs No Credit Check Options

    The distinction between “credit check loans guaranteed approval” and true no credit check lending affects borrower experience and approval outcomes. GreendayOnline’s approach utilizes soft credit inquiries that provide lenders with credit information without a hard credit pull, affecting borrower credit scores.

    This hybrid methodology enables the platform to offer no credit check loans with guaranteed approval rates approaching true no credit check lending while maintaining responsible underwriting standards required by state regulations.

    Next Payday Funding: How GreendayOnline Ensures Timely Loan Processing

    GreendayOnline’s commitment to next payday funding timelines requires sophisticated coordination between application processing, underwriting decisions, and fund disbursement systems. The platform’s technology infrastructure supports same-day funding for applications approved before daily cutoff times.

    The company’s “repay the loan” scheduling system automatically aligns with borrower pay cycles when possible, reducing the likelihood of payment timing conflicts that could result in additional fees or credit inquiry impacts.

    About GreendayOnline

    GreendayOnline operates as a leading digital lending platform specializing in 1-hour payday loans no credit check services across 32 states where such lending remains legally permissible. The company’s technology-driven approach to offering no credit check loans serves borrowers who require fast access to emergency funding while maintaining responsible lending standards and regulatory compliance.

    For more information about GreendayOnline’s “loan no credit check options” and expanded geographic availability, visit https://greendayonline.com/ or contact the company’s customer service team.

    Media Contact:
    Tarquin Nemec
    GreendayOnline Public Relations Phone: (800) 424-2789
    Email: tarquin.nemec@greendayonline.com

    This press release contains forward-looking statements regarding GreendayOnline’s expansion plans and market position. Actual results may differ from those projected. Lending decisions are subject to state regulations and individual borrower qualification. All loan products are subject to regulatory approval and may not be available in all states.

    The MIL Network –

  • MIL-OSI Economics: Services trade growth slows in first quarter of 2025

    Source: World Trade Organization

    Services exports in Europe and North America increased by only 3% year-on-year in the first quarter of 2025, down from 8% and 11% respectively in the first quarter of 2024. In contrast, strong growth was sustained in Asia at 9%.

    The overall slowdown in services trade was mainly due to “Other commercial services,” a category that encompasses a wide variety of mostly digitally deliverable services ranging from financial to professional services (Chart 1). In 2024, “Other commercial services” accounted for some 60% of global services trade, with Europe contributing 40% of those exports (Chart 2).

    Chart 1: Commercial services trade growth by main sector, 2024Q1-2025Q1
    Year-on-year % change

    Note: Services trade measured as exports.
    Source: WTO-UNCTAD estimates.

    Chart 2: Structure of world exports of commercial services, 2024
    % shares

    Source: WTO-UNCTAD estimates.

    Chart 3 shows a deceleration across selected subsectors of “Other commercial services” in the first quarter of 2025 compared with the same period of 2024. Growth in “Other business services,” covering various professional, technical and trade-related services, as well as research and development services, moderated. The United States posted a subdued 4% year-on-year increase in “Other business services” following an 8% expansion in the same period of 2024. Exports by the European Union remained flat in US dollar terms, although they rose by 4% when measured in euros.

    Financial services exports grew by only 3% year-on-year in the first quarter of 2025, reflecting reduced investment activity amid increased global economic uncertainty. The sector was also affected by exchange rate movements, which dampened US dollar-denominated growth. Exports from both the European Union and the United States rose just 2% year-on-year while Switzerland’s exports fell by 3%. The United Kingdom, on the contrary, posted a robust 10% year-on-year increase sustained by double digit growth in exports to the United States (+13%).

    Intellectual property related services expanded by 4% year-on-year in the first three months of 2025 in comparison with a 7% growth in the same quarter of 2024. Global trade in IP-related services remains highly concentrated, with the European Union and the United States accounting for nearly 70% of exports in 2024. EU exports, measured in US dollars, rose by just 3% year-on-year, held back by exchange rate volatility, despite stronger underlying growth of 6% in euro terms.

    Global construction exports fell by 15% year-on-year in the first quarter of 2025, reversing part of the strong 25% growth recorded during the same period in 2024. The decline reflects weaker performance across several key economies, including China (-25%), which alone accounted for over 28% of global construction exports in 2024, the Republic of Korea (-15%), and the European Union (-6%). The downturn in the first quarter likely reflects delayed investment due to uncertainty and rising costs.

    Computer services exports were only marginally affected by the broader slowdown, as strong global demand for artificial intelligence (AI), digital transformation, and cybersecurity solutions continued to drive growth. This momentum is expected to persist, supported by ongoing business adaptation to new technologies and rising consumer preferences for digital services. During the period, India’s computer services exports grew by 13%, while Ireland recorded a 9% increase.

    Chart 3: Other commercial services exports by selected subsector, 2024 and Q1 2025
    Year-on-year % change

    Note: Sectors are ranked according to their relative share in services trade in 2024.
    Source: WTO estimates for Q1 2025 and Q1 2024; WTO-UNCTAD estimates for 2024.

     As for the other main sectors of commercial services, global transport exports were up 3% year-on-year in the first quarter of 2025, following rapid growth especially in the third and fourth quarter of 2024 due to frontloading. Asia recorded the fastest growth, up 10%, driven by a 31% rise in China, while Singapore and the Republic of Korea posted modest gains of 2%. Payments for shipping services increased by 19% in South and Central America and the Caribbean, as demand for goods surged.

    Despite a difficult economic and geopolitical context, international travel expanded by 5% year-on-year in the first quarter of 2025. For the first time since the pandemic, international tourist arrivals were 3% above 2019 levels according to UN Tourism data. In Asia, travel receipts grew by 13%, driven by China (+96%), Viet Nam (+33%), Japan (+25%) and Thailand (+18%) as tourism continues to recover in the region. By contrast, North America’s travel receipts fell by 1%.

    Services trade performance varied across major traders in the first five months of 2025 according to available monthly statistics. Double digit exports growth was recorded in Asian economies such as China (+13%, through June), India (+12%) and Japan (+11%). In North America, the United States and Canada saw diverging trends. US service exports rose by 5%, while Canada recorded a 6% decline. The EU’s service exports to non-member countries rose by 3%, while imports from outside the Union grew more sharply, increasing by 6%. The United Kingdom recorded marked growth, with exports up 9% and imports rising by 13%.

    Chart 4: Services export and import growth of selected economies, January-May 2025
    Year-on-year % change

    Note: Statistics for Brazil, China and Pakistan refer to January-June.
    Source : National sources and Eurostat.

    Quarterly statistics are estimates as of time of publication and subject to frequent revisions. They are available for download at WTO Stats, as well as monthly statistics. Annual services trade data and related visualizations can be accessed at WTO | Statistics — Global Services Trade Data Hub and WTO | World Trade Statistics 2024.

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    MIL OSI Economics –

  • MIL-OSI Economics: ‘STEM for ALL’ : Thales Joins the Singapore-Industry Scholarship (SgIS) Programme

    Source: Thales Group

    Headline: ‘STEM for ALL’ : Thales Joins the Singapore-Industry Scholarship (SgIS) Programme

    • As a Sponsoring Organisation with SgIS, Thales will provide Singaporean undergraduate students scholarships in a comprehensive programme that includes internship, mentoring and a starting career with Thales.
    • With this initiative, Thales is extending its ‘STEM for ALL’ programme to Singapore, the first launch outside Europe, with its dedicated mission to advance STEM (Science, Technology, Engineering and Math) education amongst youth.
    • In its inaugural intake, four nominated scholars will undertake engineering or research roles in strategic sectors including air traffic management, public security, cybersecurity and digital identity, working within Thales businesses and research labs like the Thales Digital Factory.
    © Thales

    With engineers comprising one-third of Thales Singapore’s 2000+ employees, the Group has a strong interest in promoting STEM education and growing the next generation of engineering talent. On 29thJuly, Thales was proud to join SgIS as a Sponsorship Organisation at its launch event and to present awards to the scholars, aligning with the government’s mandate to develop young talent in Singapore’s strategic sectors.

    Established in 2012, SgIS is an initiative which partners government and industries to nurture a strong core of Singaporean talent in 16 strategic industries which include Aerospace & Aviation and Engineering. It is the only government-led, multi-industry scholarship under the Ministry of Education which provides talented Singaporean students access to close to 150 Sponsoring Organisations, giving them development opportunities as they further their studies and begin their professional careers.

    Throughout May and June, over 100 potential candidates with diverse skillsets were introduced to Thales by SgIS and invited to an Open Day to get to know Thales’ businesses. From this, over 40 were taken through rigorous technical assessments, following which 12 were further shortlisted for panel interviews with Thales experts and business leaders to further assess their technical expertise and leadership attributes.

    Four talented candidates from the Nanyang Technological University (NTU), the Singapore Institute of Technology (SIT) and the Singapore University of Technology and Design (SUTD) were the final recipients of the Thales award. Currently at different stages in their university education, the four students will progressively join the cybersecurity and digital identity, public security, air traffic management and Thales Digital Factory teams over the next 2 years.

    Expanding the Thales Group’s STEM for ALL Programme to Singapore

    In early 2025, Thales, through its endowment fund Thales Solidarity, launched its STEM for ALL programme in France and Belgium to foster vocation in scientific fields to remarkable young students.

    By partnering the SgIS programme, Thales is extending the Group’s ambition in endorsing STEM education worldwide by reinforcing academic excellence. Singapore is the first country outside of Europe to have a STEM scholarship programme under the STEM for ALL umbrella.

    “Thales recognises the essential role that science and technology play in furthering human progress and creating a world that is safer, greener and more sustainable. Many of the younger generation are passionate about making an impact and we are constantly looking for talented individuals, skilled in STEM, to help bring this ambition to life.” said Emily TAN, Country Director & Chief Executive, Thales in Singapore. “The scholars we selected have strong technical skills which we hope to nurture when they join the Thales family. I believe that their enthusiasm to learn, coupled with the mentorship opportunities and experiences within Thales, will provide a good starting point for their careers.”

    About Thales

    Thales (Euronext Paris: HO) is a global leader in advanced technologies for the Defence, Aerospace, and Cyber & Digital sectors. Its portfolio of innovative products and services addresses several major challenges: sovereignty, security, sustainability and inclusion.

    The Group invests more than €4 billion per year in Research & Development in key areas, particularly for critical environments, such as Artificial Intelligence, cybersecurity, quantum and cloud technologies.

    Thales has more than 83,000 employees in 68 countries. In 2024, the Group generated sales of €20.6 billion.

    About Thales in Singapore

    Thales established its presence in Singapore in 1973 to support the growth of aerospace activities in Asia. Since then, it has grown to be a leading deep-tech company operating in the Aeronautics (including avionics and air traffic management), Defence, Public Security, Cybersecurity & Digital Identity sectors.

    Thales in Singapore runs global industrial operations for avionics and digital identity solutions and has a strong commitment to Research, Technology and Innovation, with Centres of Excellence for radars, naval drones, space, avionics, public security and defence. With over 2000 employees across four locations, Thales is actively supporting Singapore in driving its digital transformation and Smart Nation ambitions.

    MIL OSI Economics –

  • MIL-OSI Security: Two Men Charged For Nationwide Fraud Scheme Targeting Hundreds Of Elderly Victims

    Source: Office of United States Attorneys

    Jingbin Jiang and Su Jian Liu Are Charged With Participating in a Scheme That Attempted to Steal Over $18 Million From Over 350 Victims

    United States Attorney for the Southern District of New York, Jay Clayton; Assistant Director in Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), Christopher G. Raia; and Commissioner of the New York City Police Department (“NYPD”), Jessica S. Tisch,  announced charges against JINGBIN JIANG and SU JIAN LIU, a/k/a “Fatty,” a/k/a “Ah Pang,” for a scheme to defraud elderly victims across the United States, which attempted to steal over $18 million from over 350 victims and resulted in actual losses of over $5 million to over 70 victims.  JIANG was arrested in Staten Island this morning and will be presented today before U.S. Magistrate Judge Stewart D. Aaron.  LIU is still at large.  The case is assigned to U.S. District Judge Mary Kay Vyskocil.

    “As alleged, Jingbin Jiang and Su Jian Liu worked together with others to steal the hard-earned money of some our most vulnerable New Yorkers and others around the country,” said U.S. Attorney Jay Clayton.  “Taking advantage of our elderly after they have worked so hard to save and contributed so much to our city and this country is heartless and despicable.  These charges, and the efforts of the FBI and the NYPD, should serve as a warning to fraudsters and cybercriminals: New Yorkers want you held accountable for your crimes, and the women and men of our Office are committed to doing so.”

    “Jingbin Jiang and Su Jian Liu allegedly defrauded elderly victims of more than $5 million by utilizing extortionate tactics to coerce withdrawals of significant cash or purchases of gold,” said FBI Assistant Director Christopher G. Raia.  “This alleged conspiracy wielded fear of bankruptcy and arrest to ensure victims complied with the unlawful requests for money.  The FBI is committed to apprehending any individual who utilizes online platforms to target and exploit vulnerable victims across the country.”

    “These defendants allegedly led a nationwide fraud scheme with the goal of targeting innocent, elderly victims and stealing millions of their hard-earned savings,” said NYPD Commissioner Jessica S. Tisch.  “Jingbin Jiang and Su Jian Liu allegedly participated in a plot involving elaborate, fictitious narratives to manipulate elderly victims and trick them into participating in their scheme, which involved attempts to steal over $18 million from 350 people.  I am grateful to the members of the NYPD, FBI, and the U.S. Attorney’s Office for holding these alleged predatory fraudsters accountable.”

    According to the allegations in the Indictment unsealed today in Manhattan federal court:[1]

    Between at least in or about 2023 and in or about July 2025, JIANG and LIU participated with others in a fraudulent scheme that primarily targeted elderly victims located all across the United States, including in New York, New Jersey, Pennsylvania, Massachusetts, Texas, Washington, Wisconsin, California, Connecticut, Arizona, North Carolina, South Carolina, Missouri, Mississippi, Kentucky, Utah, Oregon, Colorado, and Montana.

    The scheme proceeded in the following manner: First, victims would typically see a pop-up message on their computers indicating that they needed to call a particular phone number controlled by members of the scheme.  The pop-up message would typically claim to come from a technology company, a bank, or the government.  Second, when victims called the phone number, they were told a fictitious narrative that would ultimately lead to a suggestion that the victims withdraw money from their bank account.  For example, some victims were falsely told that their computers had a virus, or that their computers had been hacked into and used to commit serious crimes, like downloading child sexual abuse material.  Others were falsely told that their bank accounts had been compromised and were vulnerable to unauthorized withdrawals.  To avoid arrest or protect their bank accounts from being compromised, victims were instructed to withdraw large amounts of cash from their bank accounts or purchase large quantities of gold.  Some victims were even told that their money would be safely held in the custody of a consumer protection agency like the Federal Trade Commission, and they were sent notices on fake federal government letterhead purporting to bear the signature of a federal government official:

    Third, many victims were told that a courier would be arriving at their home (or other coordinated pick-up location) to retrieve the gold and/or cash.  Victims were often provided with the courier’s name (which was fictitious), a description of the courier’s clothing, and sometimes a password, purportedly to ensure the courier was authorized to pick up the gold and/or cash.  Other victims were told to purchase and transfer cryptocurrency or gift cards, which did not require a courier.  Victims were typically under the impression that this gold and/or cash would then be deposited, on the victims’ behalf, into a new, safe, uncompromised bank account (or with the Federal Trade Commission, as noted above) that they could access without concern in the future.  In reality, these funds were stolen and never returned to the victims.  Some victims engaged in multiple transactions before realizing the fraudulent nature of the scheme.

    JIANG and LIU participated in the scheme by managing and supervising the couriers that traveled to meet the victims to pick up the cash and gold, which was then transported back to New York City.  JIANG and LIU received information about potential victims from other members of the scheme on text-messaging platforms, in messages that typically included the zip codes and the amounts of cash or gold to be collected from each victim. JIANG and LIU could then decide whether to accept the pick-up, and if they did, the other members of the scheme would provide more specific details about the victim and when and where to pick up the cash or gold.  After arranging for couriers to make the pick-ups, JIANG and LIU would provide updates to other members of the scheme about the couriers’ progress.  After the victims provided the criminal proceeds to the couriers, JIANG and LIU arranged for the criminal proceeds to be distributed to other members of the scheme, including by converting cash and gold into cryptocurrency to be easily transmitted to members of the scheme located overseas, including in India and China.  In total, members of the conspiracy have attempted to steal at least approximately $18 million from over 350 victims, and they have successfully stolen at least approximately $5 million from over 70 victims.

    If you or someone you know has been victimized by this scheme, please file a complaint with the FBI’s Internet Crime Complaint Center, which is available at ic3.gov.

    *                *                *

    JIANG, 37, of Staten Island, New York, and LIU, 38 of Edmond, Oklahoma, are both charged with one count of wire fraud conspiracy, which carries a maximum sentence of 20 years in prison; and one count of conspiracy to commit interstate transportation of stolen property, which carries a maximum sentence of five years in prison.

    The maximum potential sentences in this case are prescribed by Congress and provided here for informational purposes only, as any sentencing of the defendants will be determined by the judge.

    Mr. Clayton praised the investigative work of the FBI and NYPD’s Joint Organized Crime Task Force.  Mr. Clayton also thanked the New York State Police and the Bedford Police Department for their assistance in the investigation of this case.

    This case is being handled by the Office’s Violent & Organized Crime Unit. Assistant U.S. Attorneys Andrew K. Chan and Angela Zhu are in charge of the prosecution. 

    The charges contained in the Indictment are merely accusations, and the defendants are presumed innocent unless and until proven guilty.

    [1] As the introductory phrase signifies, the entirety of the text of the Indictment and the description of the Indictment set forth herein constitute only allegations, and every fact described herein should be treated as an allegation.

    MIL Security OSI –

  • MIL-OSI: Silvercrest Asset Management Group Inc. Reports Q2 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 31, 2025 (GLOBE NEWSWIRE) — Silvercrest Asset Management Group Inc. (NASDAQ: SAMG) (the “Company” or “Silvercrest”) today reported the results of its operations for the quarter ended June 30, 2025.

    Business Update

    Discretionary assets under management (“AUM”) increased $1.0 billion during the second quarter, primarily due to strong markets. While net flows were negative, Silvercrest added $80.0 million in organic new client accounts and has added $0.5 billion in new client accounts during the first half of 2025. That is on pace to be one of the stronger levels of organic new client flows over the past several years. Silvercrest has added approximately $2.0 billion in organic new client accounts over the past four quarters.

    Discretionary AUM, which drives revenue, now stands at $23.7 billion, which is a 4.4% sequential quarterly increase and an increase of 9.7% year-over-year. Total AUM at the end of the second quarter hit a new high for the firm at $36.7 billion.

    Barring short-term market volatility, the increase in AUM bodes well for future revenue, as Silvercrest primarily bills quarterly in advance. Silvercrest’s strategic investments continue to promote growth, and our earnings and Adjusted EBITDA1 reflect a concerted effort to invest capital to support our long-term strategic priorities. We remain highly optimistic about securing more significant organic flows over the course of 2025 and 2026, as our investments bear fruit.

    Our strategic initiatives highlight Silvercrest in both the institutional and wealth markets. The firm continues to invest in talent across the firm to drive new growth and successfully transition the business toward the next generation. Our new business pipeline remains robust.

    As previously discussed, Silvercrest will continue to monitor and adjust our interim compensation ratio to match important investments in the business as long as we have compelling opportunities to grow the firm and build our return on invested capital.

    We completed a $12.0 million stock repurchase program at the beginning of the second quarter. As a result, we announced a new buyback program of $25.0 million on May 23, 2025. Our strong balance sheet supports ongoing capital returns as well as our growth initiatives. 

    We will continue to look for opportunities to return capital to or accrete shareholders, especially as we invest in the business.

    On July 30, 2025, the Company’s Board of Directors approved an increase of 5% to the Company’s quarterly dividend, from $0.20 per share of Class A common stock to $0.21 per share of Class A common stock.  The dividend will be paid on or about September 19, 2025 to stockholders of record as of the close of business on September 12, 2025.

    Second Quarter 2025 Highlights

    • Total AUM of $36.7 billion, inclusive of discretionary AUM of $23.7 billion and non-discretionary AUM of $13.0 billion, at June 30, 2025.
    • Revenue of $30.7 million.
    • U.S. Generally Accepted Accounting Principles (“GAAP”) consolidated net income and net income attributable to Silvercrest of $3.1 million and $1.9 million, respectively.
    • Basic and diluted net income per share of $0.21.
    • Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”)1 of $5.7 million.
    • Adjusted net income1 of $3.3 million.
    • Adjusted basic and diluted earnings per share1,2 of $0.26 and $0.25, respectively.

    The table below presents a comparison of certain GAAP and non-GAAP (“Adjusted”) financial measures and AUM.

        For the Three Months
    Ended June 30,    		     For the Six Months
    Ended June 30,    		  
    (in thousands except as indicated)   2025     2024     2025     2024  
    Revenue   $ 30,673     $ 30,993     $ 62,065     $ 61,265  
    Income before other income (expense), net   $ 4,041     $ 5,309     $ 8,878     $ 11,213  
    Net income   $ 3,149     $ 4,380     $ 7,077     $ 9,295  
    Net income margin     10.3 %     14.1 %     11.4 %     15.2 %
    Net income attributable to Silvercrest   $ 1,918     $ 2,665     $ 4,387     $ 5,665  
    Net income per basic share   $ 0.21     $ 0.28     $ 0.47     $ 0.60  
    Net income per diluted share   $ 0.21     $ 0.28     $ 0.47     $ 0.60  
    Adjusted EBITDA1   $ 5,735     $ 7,232     $ 12,232     $ 14,685  
    Adjusted EBITDA Margin1     18.7 %     23.3 %     19.7 %     24.0 %
    Adjusted net income1   $ 3,258     $ 4,402     $ 7,152     $ 9,121  
    Adjusted basic earnings per share1, 2   $ 0.26     $ 0.31     $ 0.57     $ 0.65  
    Adjusted diluted earnings per share1, 2   $ 0.25     $ 0.30     $ 0.54     $ 0.63  
    Assets under management at period end (billions)   $ 36.7     $ 33.4     $ 36.7     $ 33.4  
    Average assets under management (billions)3   $ 36.0     $ 34.0     $ 36.6     $ 33.4  
    Discretionary assets under management (billions)   $ 23.7     $ 21.6     $ 23.7     $ 21.6  
    1 Adjusted measures are non-GAAP measures and are explained and reconciled to the comparable GAAP measures in Exhibits 2 and 3.
    2 Adjusted basic and diluted earnings per share measures for the three and six months ended June 30, 2025 are based on the number of shares of Class A common stock and Class B common stock outstanding as of June 30, 2025. Adjusted diluted earnings per share are further based on the addition of unvested restricted stock units and non-qualified stock options to the extent dilutive at the end of the reporting period.
    3 We have computed average AUM by averaging AUM at the beginning of the applicable period and AUM at the end of the applicable period.
       

    AUM at $36.7 Billion

    Silvercrest’s discretionary AUM increased by $2.1 billion, or 9.7%, to $23.7 billion at June 30, 2025, from $21.6 billion at June 30, 2024. Silvercrest’s total AUM increased by $3.3 billion, or 9.9%, to $36.7 billion at June 30, 2025, from $33.4 billion at June 30, 2024. The increase in total AUM was attributable to market appreciation of $2.8 billion and net client inflows of $0.5 billion.

    Silvercrest’s discretionary assets under management increased by $1.0 billion, or 4.4%, to $23.7 billion at June 30, 2025, from $22.7 billion at March 31, 2025. The increase was attributable to market appreciation of $1.4 billion partially offset by net client outflows of $0.4 billion. Silvercrest’s total AUM increased by $1.4 billion, or 4.0%, to $36.7 billion at June 30, 2025, from $35.3 billion at March 31, 2025. The increase was attributable to market appreciation of $1.8 billion partially offset by net client outflows of $0.4 billion.

    Second Quarter 2025 vs. Second Quarter 2024

    Revenue decreased by $0.3 million, or 1.0%, to $30.7 million for the three months ended June 30, 2025, from $31.0 million for the three months ended June 30, 2024. This decrease was driven by a decrease in the average annual management fee rate.

    Total expenses increased by $0.9 million, or 3.7%, to $26.6 million for the three months ended June 30, 2025, from $25.7 million for the three months ended June 30, 2024. Compensation and benefits expense increased by $0.3 million, or 1.7%, to $18.8 million for the three months ended June 30, 2025 from $18.5 million for the three months ended June 30, 2024. The increase was primarily attributable to an increase in salaries and benefits of $1.2 million primarily as a result of merit-based increases and newly-hired staff, partially offset by decreases in the accrual for bonuses of $0.8 million and equity-based compensation of $0.1 million. General and administrative expenses increased by $0.6 million, or 8.8%, to $7.8 million for the three months ended June 30, 2025 from $7.2 million for the three months ended June 30, 2024. This was primarily attributable to increases in professional fees of $0.2 million, occupancy and related costs of $0.1 million primarily related to new office space in Singapore, marketing and advertising costs of $0.1 million, shareholder expenses of $0.1 million and travel and entertainment expenses of $0.1 million.

    Consolidated net income was $3.1 million, or 10.3% of revenue, for the three months ended June 30, 2025, as compared to consolidated net income of $4.4 million, or 14.1% of revenue, for the same period in the prior year. Net income attributable to Silvercrest was $1.9 million, or $0.21 per basic and diluted share, for the three months ended June 30, 2025. Our adjusted net income1 was $3.3 million, or $0.26 per adjusted basic share and $0.25 per adjusted diluted share2, for the three months ended June 30, 2025.

    Adjusted EBITDA1 was $5.7 million, or 18.7% of revenue, for the three months ended June 30, 2025, as compared to $7.2 million, or 23.3% of revenue, for the same period in the prior year.

    Six Months Ended June 30, 2025 vs. Six Months Ended June 30, 2024

    Revenue increased by $0.8 million, or 1.3%, to $62.1 million for the six months ended June 30, 2025, from $61.3 million for the six months ended June 30, 2024. This increase was driven by market appreciation partially offset by net client outflows.

    Total expenses increased by $3.1 million, or 6.3%, to $53.2 million for the six months ended June 30, 2025, from $50.1 million for the six months ended June 30, 2024. Compensation and benefits expense increased by $1.5 million, or 4.2%, to $37.7 million for the six months ended June 30, 2025, from $36.2 million for the six months ended June 30, 2024. The increase was primarily attributable to an increase in salaries and benefits of $2.7 million primarily as a result of merit-based increases and newly-hired staff, partially offset by decreases in the accrual for bonuses of $1.1 million and severance expense of $0.1 million.  General and administrative expenses increased by $1.6 million, or 11.6%, to $15.5 million for the six months ended June 30, 2025, from $13.9 million for the six months ended June 30, 2024. This was primarily attributable to increases in professional fees of $0.6 million, occupancy and related costs of $0.1 million primarily related to new office space in Singapore, portfolio and systems expense of $0.3 million, shareholder expenses of $0.1 million, marketing and advertising costs of $0.1 million, office expenses of $0.1 million, sub-advisory and referral fees of $0.1 million and travel and entertainment expenses of $0.2 million.

    Consolidated net income was $7.1 million, or 11.4% of revenue, for the six months ended June 30, 2025, as compared to consolidated net income of $9.3 million, or 15.2% of revenue, for the same period in the prior year.  Net income attributable to Silvercrest was $4.4 million, or $0.47 per basic share and diluted share for the six months ended June 30, 2025.  Our adjusted net income1 was $7.2 million, or $0.57 per adjusted basic share and $0.54 per adjusted diluted share2 for the six months ended June 30, 2025.

    Adjusted EBITDA1 was $12.2 million, or 19.7% of revenue, for the six months ended June 30, 2025, as compared to $14.7 million, or 24.0% of revenue, for the same period in the prior year.

    Liquidity and Capital Resources

    Cash and cash equivalents were $30.0 million at June 30, 2025, compared to $68.6 million at December 31, 2024. As of June 30, 2025, there was nothing outstanding under our term loan with City National Bank and nothing outstanding on our revolving credit facility with City National Bank.

    Silvercrest Asset Management Group Inc.’s total equity was $100.0 million at June 30, 2025. We had 8,501,241 shares of Class A common stock outstanding and 4,126,476 shares of Class B common stock outstanding at June 30, 2025.

    Non-GAAP Financial Measures

    To provide investors with additional insight, promote transparency and allow for a more comprehensive understanding of the information used by management in its financial and operational decision-making, we supplement our consolidated financial statements presented on a basis consistent with GAAP with Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Earnings Per Share, which are non-GAAP financial measures of earnings. These adjustments, and the non-GAAP financial measures that are derived from them, provide supplemental information to analyze our operations between periods and over time. Investors should consider our non-GAAP financial measures in addition to, and not as a substitute for, financial measures prepared in accordance with GAAP.

    • EBITDA represents net income before provision for income taxes, interest income, interest expense, depreciation and amortization.
    • We define Adjusted EBITDA as EBITDA without giving effect to the Delaware franchise tax, professional fees associated with acquisitions or financing transactions, gains on extinguishment of debt or other obligations related to acquisitions, impairment charges and losses on disposals or abandonment of assets and leaseholds, client reimbursements and fund redemption costs, severance and other similar expenses, but including partner incentive allocations, prior to our initial public offering, as an expense. We believe that it is important to management and investors to supplement our consolidated financial statements presented on a GAAP basis with Adjusted EBITDA, a non-GAAP financial measure of earnings, as this measure provides a perspective of recurring earnings of the Company, taking into account earnings attributable to both Class A and Class B stockholders.
    • Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA by total revenue. We believe that it is important to management and investors to supplement our consolidated financial statements presented on a GAAP basis with Adjusted EBITDA Margin, a non-GAAP financial measure of earnings, as this measure provides a perspective of recurring profitability of the Company, taking into account profitability attributable to both Class A and Class B stockholders.
    • Adjusted Net Income represents recurring net income without giving effect to professional fees associated with acquisitions or financing transactions, losses on forgiveness of notes receivable from our partners, gains on extinguishment of debt or other obligations related to acquisitions, impairment charges and losses on disposals or abandonment of assets and leaseholds, client reimbursements and fund redemption costs, severance and other similar expenses. Furthermore, Adjusted Net Income includes income tax expense assuming a blended corporate rate of 26%. We believe that it is important to management and investors to supplement our consolidated financial statements presented on a GAAP basis with Adjusted Net Income, a non-GAAP financial measure of earnings, as this measure provides a perspective of recurring income of the Company, taking into account income attributable to both Class A and Class B stockholders.
    • Adjusted Earnings Per Share represents Adjusted Net Income divided by the actual Class A and Class B shares outstanding as of the end of the reporting period for basic Adjusted Earnings Per Share, and to the extent dilutive, we add unvested restricted stock units and non-qualified stock options to the total shares outstanding to compute diluted Adjusted Earnings Per Share. As a result of our structure, which includes a non-controlling interest, we believe that it is important to management and investors to supplement our consolidated financial statements presented on a GAAP basis with Adjusted Earnings Per Share, a non-GAAP financial measure of earnings, as this measure provides a perspective of recurring earnings per share of the Company as a whole as opposed to being limited to our Class A common stock.

    Conference Call

    The Company will host a conference call on August 1, 2025, at 8:30 am (Eastern Time) to discuss these results. Hosting the call will be Richard R. Hough III, Chief Executive Officer and President, and Scott A. Gerard, Chief Financial Officer. Listeners may access the call by dialing 1-844-836-8743 or for international listeners the call may be accessed by dialing 1-412-317-5723. A live, listen-only webcast will also be available via the investor relations section of www.silvercrestgroup.com. An archived replay of the call will be available after the completion of the live call on the Investor Relations page of the Silvercrest website at http://ir.silvercrestgroup.com/. 

    Forward-Looking Statements

    This release contains, and from time to time our management may make, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks, uncertainties and assumptions. These statements are only predictions based on our current expectations and projections about future events. Important factors that could cause actual results, level of activity, performance or achievements to differ materially from those indicated by such forward-looking statements include, but are not limited to: incurrence of net losses; fluctuations in quarterly and annual results; adverse economic or market conditions; our expectations with respect to future levels of assets under management, inflows and outflows; our ability to retain clients; our ability to maintain our fee structure; our particular choices with regard to investment strategies employed; our ability to hire and retain qualified investment professionals; the cost of complying with current and future regulation coupled with the cost of defending ourselves from related investigations or litigation; failure of our operational safeguards against breaches in data security, privacy, conflicts of interest or employee misconduct; our expected tax rate; our expectations with respect to deferred tax assets, adverse economic or market conditions; incurrence of net losses; adverse effects of management focusing on implementation of a growth strategy; failure to develop and maintain the Silvercrest brand; and other factors disclosed under “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2024, which is accessible on the U.S. Securities and Exchange Commission’s website at www.sec.gov. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

    About Silvercrest

    Silvercrest was founded in April 2002 as an independent, employee-owned registered investment adviser. With offices in New York, Boston, Virginia, New Jersey, California and Wisconsin, Silvercrest provides traditional and alternative investment advisory and family office services to wealthy families and select institutional investors.

    Silvercrest Asset Management Group Inc.

    Contact: Richard Hough
    212-649-0601
    rhough@silvercrestgroup.com

    Exhibit 1

    Silvercrest Asset Management Group Inc.
    Condensed Consolidated Statements of Operations
    (Unaudited and in thousands, except share and per share amounts or as noted)
                 
        For the Three Months
    Ended June 30,    		     For the Six Months
    Ended June 30,    		  
        2025     2024     2025     2024  
                             
    Revenue                        
    Management and advisory fees   $ 29,515     $ 29,900     $ 59,783     $ 59,065  
    Family office services     1,158       1,093       2,282       2,200  
    Total revenue     30,673       30,993       62,065       61,265  
    Expenses                        
    Compensation and benefits     18,805       18,493       37,686       36,162  
    General and administrative     7,827       7,191       15,501       13,890  
    Total expenses     26,632       25,684       53,187       50,052  
    Income before other (expense) income, net     4,041       5,309       8,878       11,213  
    Other (expense) income, net                        
    Other (expense) income, net     20       7       27       15  
    Interest income     163       289       436       636  
    Interest expense     (15 )     (29 )     (30 )     (80 )
    Total other (expense) income, net     168       267       433       571  
    Income before provision for income taxes     4,209       5,576       9,311       11,784  
    Provision for income taxes     (1,060 )     (1,196 )     (2,234 )     (2,489 )
    Net income     3,149       4,380       7,077       9,295  
    Less: net income attributable to non-controlling interests     (1,231 )     (1,715 )     (2,690 )     (3,630 )
    Net income attributable to Silvercrest   $ 1,918     $ 2,665     $ 4,387     $ 5,665  
    Net income per share:                        
    Basic   $ 0.21     $ 0.28     $ 0.47     $ 0.60  
    Diluted   $ 0.21     $ 0.28     $ 0.47     $ 0.60  
    Weighted average shares outstanding:                        
    Basic     9,095,966       9,509,711       9,337,530       9,494,869  
    Diluted     9,124,278       9,547,879       9,370,217       9,531,730  
                                     

    Exhibit 2

    Silvercrest Asset Management Group Inc.
    Reconciliation of GAAP to non-GAAP (“Adjusted”) Adjusted EBITDA Measure
    (Unaudited and in thousands, except share and per share amounts or as noted)
                 
    Adjusted EBITDA   For the Three Months
    Ended June 30,    		     For the Six Months
    Ended June 30,    		  
        2025     2024     2025     2024  
    Reconciliation of non-GAAP financial measure:                        
    Net income   $ 3,149     $ 4,380     $ 7,077     $ 9,295  
    Provision for income taxes     1,060       1,196       2,234       2,489  
    Delaware Franchise Tax     50       50       100       100  
    Interest expense     15       29       30       80  
    Interest income     (163 )     (289 )     (436 )     (636 )
    Depreciation and amortization     1,079       1,058       2,118       2,077  
    Equity-based compensation     401       485       855       839  
    Other adjustments (A)     144       323       254       441  
    Adjusted EBITDA   $ 5,735     $ 7,232     $ 12,232     $ 14,685  
    Adjusted EBITDA Margin     18.7 %     23.3 %     19.7 %     24.0 %
                                     

    (A) Other adjustments consist of the following:

        Three Months Ended
    June 30,    		     Six Months Ended
    June 30,    		  
        2025     2024     2025     2024  
    Severance   $ —     $ —     $ —     $ 60  
    Other (a)     144       323       254       381  
    Total other adjustments   $ 144     $ 323     $ 254     $ 441  
                                     
    (a) For the three months ended June 30, 2025, represents an ASC 842 rent adjustment of $48 related to the amortization of property lease incentives, legal fees of $84 related to our application for licensure in the European Union (the “EU”) and rent expense of $12.  For the six months ended June 30, 2025, represents an ASC 842 rent adjustment of $96 related to the amortization of property lease incentives, legal fees of $84 related to our application for licensure in the EU, sign-on bonuses paid to certain employees of $62 and rent expense of $12.  For the three months ended June 30, 2024, represents a fair value adjustment to the Neosho contingent purchase price consideration of $12, an ASC 842 rent adjustment of $48 related to the amortization of property lease incentives, sign on bonuses paid to certain employees of $188, professional fees of $26 related to a transfer pricing project, legal fees of $46 and software implementation costs of $3.  For the six months ended June 30, 2024, represents a fair value adjustment to the Neosho contingent purchase price consideration of $12, an ASC 842 rent adjustment of $96 related to the amortization of property lease incentives, sign on bonuses paid to certain employees of $188, professional fees of $26 related to a transfer pricing project, legal fees of $46 and software implementation costs of $13.
       

    Exhibit 3

    Silvercrest Asset Management Group Inc.
    Reconciliation of GAAP to non-GAAP (“Adjusted”)
    Adjusted Net Income and Adjusted Earnings Per Share Measures
    (Unaudited and in thousands, except per share amounts or as noted)
                 
    Adjusted Net Income and Adjusted Earnings Per Share   Three Months Ended
    June 30,    		     Six Months Ended
    June 30,    		  
        2025     2024     2025     2024  
    Reconciliation of non-GAAP financial measure:                        
    Net income   $ 3,149     $ 4,380     $ 7,077     $ 9,295  
    Consolidated GAAP Provision for income taxes     1,060       1,196       2,234       2,489  
    Delaware Franchise Tax     50       50       100       100  
    Other adjustments (A)     144       323       254       441  
    Adjusted earnings before provision for income taxes     4,403       5,949       9,665       12,325  
    Adjusted provision for income taxes:                        
    Adjusted provision for income taxes (26% assumed tax rate)     (1,145 )     (1,547 )     (2,513 )     (3,205 )
                             
    Adjusted net income   $ 3,258     $ 4,402     $ 7,152     $ 9,121  
                             
    GAAP net income per share (B):                        
    Basic   $ 0.21     $ 0.28     $ 0.47     $ 0.60  
    Diluted   $ 0.21     $ 0.28     $ 0.47     $ 0.60  
                             
    Adjusted earnings per share/unit (B):                        
    Basic   $ 0.26     $ 0.31     $ 0.57     $ 0.65  
    Diluted   $ 0.25     $ 0.30     $ 0.54     $ 0.63  
                             
    Shares/units outstanding:                        
    Basic Class A shares outstanding     8,501       9,547       8,501       9,547  
    Basic Class B shares/units outstanding     4,127       4,443       4,127       4,443  
    Total basic shares/units outstanding     12,628       13,990       12,628       13,990  
                             
    Diluted Class A shares outstanding (C)     8,525       9,586       8,525       9,586  
    Diluted Class B shares/units outstanding (D)     4,630       5,038       4,630       5,038  
    Total diluted shares/units outstanding     13,155       14,624       13,155       14,624  
      (A) See A in Exhibit 2.   
      (B) GAAP earnings per share is strictly attributable to Class A stockholders. Adjusted earnings per share takes into account earnings attributable to both Class A and Class B stockholders.
      (C) Includes 23,426 and 38,936 unvested restricted stock units at June 30, 2025 and 2024, respectively.
      (D) Includes 137,100 and 228,118 unvested restricted stock units at June 30, 2025 and 2024, respectively, and 366,293 unvested non-qualified options at June 30, 2025 and 2024.
         

    Exhibit 4

    Silvercrest Asset Management Group Inc.
    Condensed Consolidated Statements of Financial Condition
    (Unaudited and in thousands)
                 
        June 30,
    2025    		     December 31,
    2024    		  
    Assets            
    Cash and cash equivalents   $ 30,041     $ 68,611  
    Investments     164       1,354  
    Receivables, net     13,129       12,225  
    Due from Silvercrest Funds     875       945  
    Furniture, equipment and leasehold improvements, net     7,302       7,387  
    Goodwill     63,675       63,675  
    Operating lease assets     15,127       16,032  
    Finance lease assets     189       254  
    Intangible assets, net     15,547       16,644  
    Deferred tax asset     2,737       4,220  
    Prepaid expenses and other assets     3,925       3,085  
    Total assets   $ 152,711     $ 194,432  
    Liabilities and Equity            
    Accounts payable and accrued expenses   $ 3,190     $ 1,953  
    Accrued compensation     17,811       39,865  
    Operating lease liabilities     21,071       22,270  
    Finance lease liabilities     197       262  
    Deferred tax and other liabilities     10,488       10,389  
    Total liabilities     52,757       74,739  
    Commitments and Contingencies (Note 10)            
    Equity            
    Preferred Stock, par value $0.01, 10,000,000 shares authorized; none issued
    and outstanding    		     —       —  
    Class A Common Stock, par value $0.01, 50,000,000 shares authorized; 10,801,353
    and 8,501,241 issued and outstanding, respectively, as of June 30, 2025;
    10,450,559 and 9,376,280 issued and outstanding, respectively, as of December 31, 2024    		     108       104  
    Class B Common Stock, par value $0.01, 25,000,000 shares authorized; 4,126,476
    and 4,373,315 issued and outstanding as of June 30, 2025 and December 31, 2024,
    respectively    		     40       42  
    Additional Paid-In Capital     58,704       56,369  
    Treasury Stock, at cost, 2,300,112 and 1,074,279 shares as of June 30, 2025 and
    December 31, 2024, respectively    		     (38,866 )     (19,728 )
    Accumulated other comprehensive income (loss)     (41 )     (43 )
    Retained earnings     44,660       43,953  
    Total Silvercrest Asset Management Group Inc.’s equity     64,605       80,697  
    Non-controlling interests     35,349       38,996  
    Total equity     99,954       119,693  
    Total liabilities and equity   $ 152,711     $ 194,432  

    Exhibit 5

    Silvercrest Asset Management Group Inc.
    Total Assets Under Management
    (Unaudited and in billions)
                 
    Total Assets Under Management:            
        Three Months Ended
    June 30,    		     % Change from June 30,  
        2025     2024     2024  
    Beginning assets under management   $ 35.3     $ 34.5       2.3 %
                       
    Gross client inflows     0.9       0.6       50.0 %
    Gross client outflows     (1.3 )     (1.5 )     -13.3 %
    Net client flows     (0.4 )     (0.9 )     55.6 %
                       
    Market appreciation/(depreciation)     1.8       (0.2 )   NM  
    Ending assets under management   $ 36.7     $ 33.4       9.9 %
        Six Months Ended
    June 30,    		     % Change from June 30,  
        2025     2024     2024  
    Beginning assets under management   $ 36.5     $ 33.3       9.6 %
                       
    Gross client inflows     2.3       1.7       35.3 %
    Gross client outflows     (2.5 )     (3.0 )     -16.7 %
    Net client flows     (0.2 )     (1.3 )     84.6 %
                       
    Market appreciation     0.4       1.4       -71.4 %
    Ending assets under management   $ 36.7     $ 33.4       9.9 %

    NM = Not Meaningful

    Exhibit 6

    Silvercrest Asset Management Group Inc.
    Discretionary Assets Under Management
    (Unaudited and in billions)
                 
    Discretionary Assets Under Management:            
                 
        Three Months Ended
    June 30,    		     % Change from June 30,  
        2025     2024     2024  
    Beginning assets under management   $ 22.7     $ 22.7       0.0 %
                       
    Gross client inflows     0.6       0.6       0.0 %
    Gross client outflows     (1.0 )     (1.5 )     -33.3 %
    Net client flows     (0.4 )     (0.9 )     55.6 %
                       
    Market appreciation/(depreciation)     1.4       (0.2 )   NM  
    Ending assets under management   $ 23.7     $ 21.6       9.7 %
        Six Months Ended
    June 30,    		     % Change from June 30,  
        2025     2024     2024  
    Beginning assets under management   $ 23.3     $ 21.9       6.4 %
                       
    Gross client inflows     1.6       1.2       33.3 %
    Gross client outflows     (1.7 )     (2.5 )     -32.0 %
    Net client flows     (0.1 )     (1.3 )     -92.3 %
                       
    Market appreciation     0.5       1.0       -50.0 %
    Ending assets under management   $ 23.7     $ 21.6       9.7 %

    NM = Not Meaningful

    Exhibit 7

    Silvercrest Asset Management Group Inc.
    Non-Discretionary Assets Under Management
    (Unaudited and in billions)
                 
    Non-Discretionary Assets Under Management:            
                 
        Three Months Ended
    June 30,    		     % Change from June 30,  
        2025     2024     2024  
    Beginning assets under management   $ 12.6     $ 11.8       6.8 %
                       
    Gross client inflows     0.3       —       100.0 %
    Gross client outflows     (0.3 )     —       100.0 %
    Net client flows     —       —       100.0 %
                       
    Market appreciation     0.4       —       100.0 %
    Ending assets under management   $ 13.0     $ 11.8       10.2 %
        Six Months Ended
    June 30,    		     % Change from June 30,  
        2025     2024     2024  
    Beginning assets under management   $ 13.2     $ 11.4       15.8 %
                       
    Gross client inflows     0.7       0.5       40.0 %
    Gross client outflows     (0.8 )     (0.5 )     60.0 %
    Net client flows     (0.1 )     —       -100.0 %
                       
    Market (depreciation)/appreciation     (0.1 )     0.4       -125.0 %
    Ending assets under management   $ 13.0     $ 11.8       10.2 %
                             

    Exhibit 8

    Silvercrest Asset Management Group Inc.
    Assets Under Management
    (Unaudited and in billions)
           
        Three Months Ended
    June 30,    		  
        2025     2024  
    Total AUM as of March 31,   $ 35.328     $ 34.509  
    Discretionary AUM:            
    Total Discretionary AUM as of March 31,   $ 22.655     $ 22.681  
    New client accounts/assets (1)     0.080       0.068  
    Closed accounts (2)     (0.071 )     (0.036 )
    Net cash inflow/(outflow) (3)     (0.426 )     (0.955 )
    Non-discretionary to Discretionary AUM (4)     —       —  
    Market appreciation/(depreciation)     1.430       (0.112 )
    Change to Discretionary AUM     1.013       (1.035 )
    Total Discretionary AUM at June 30,     23.668       21.646  
    Change to Non-Discretionary AUM (5)     0.332       (0.044 )
    Total AUM as of June 30,   $ 36.673     $ 33.430  
        Six Months Ended
    June 30,    		  
        2025     2024  
    Total AUM as of January 1,   $ 36.455     $ 33.281  
    Discretionary AUM:            
    Total Discretionary AUM as of January 1,   $ 23.319     $ 21.885  
    New client accounts/assets (1)     0.517       0.103  
    Closed accounts (2)     (0.125 )     (0.475 )
    Net cash inflow/(outflow) (3)     (0.540 )     (0.948 )
    Non-discretionary to Discretionary AUM (4)     0.001       (0.002 )
    Market appreciation     0.497       1.083  
    Change to Discretionary AUM     0.350       (0.239 )
    Total Discretionary AUM at June 30,     23.669       21.646  
    Change to Non-Discretionary AUM (5)     (0.132 )     0.388  
    Total AUM as of June 30,   $ 36.673     $ 33.430  
    (1) Represents new account flows from both new and existing client relationships.
    (2) Represents closed accounts of existing client relationships and those that terminated.
    (3) Represents periodic cash flows related to existing accounts.
    (4) Represents client assets that converted to Discretionary AUM from Non-Discretionary AUM.
    (5) Represents the net change to Non-Discretionary AUM.
       

    Exhibit 9

    Silvercrest Asset Management Group Inc.
    Equity Investment Strategy Composite Performance1, 2
    As of June 30, 2025
    (Unaudited)
           
    PROPRIETARY EQUITY PERFORMANCE 1, 2   ANNUALIZED PERFORMANCE  
        INCEPTION   1-YEAR     3-YEAR     5-YEAR     7-YEAR     INCEPTION  
    Large Cap Value Composite   4/1/02     10.1       12.6       13.4       10.7       9.6  
    Russell 1000 Value Index         13.7       12.8       13.9       9.6       8.0  
                                       
    Small Cap Value Composite   4/1/02     -0.1       7.4       11.9       6.0       9.7  
    Russell 2000 Value Index         5.5       7.5       12.5       4.9       7.5  
                                       
    Smid Cap Value Composite   10/1/05     8.7       8.6       11.8       6.4       9.2  
    Russell 2500 Value Index         10.5       10.7       14.0       6.9       7.7  
                                       
    Multi Cap Value Composite   7/1/02     11.4       11.3       12.0       8.5       9.6  
    Russell 3000 Value Index         13.3       12.5       13.9       9.3       8.4  
                                       
    Equity Income Composite   12/1/03     9.6       9.9       11.4       7.7       10.7  
    Russell 3000 Value Index         13.3       12.5       13.9       9.3       8.6  
                                       
    Focused Value Composite   9/1/04     15.1       8.0       9.1       5.7       9.4  
    Russell 3000 Value Index         13.3       12.5       13.9       9.3       8.4  
                                       
    Global Value Opportunity Composite   1/1/20     19.5       16.2       15.3       —       11.0  
    MSCI ACWI Value – Net Index         15.6       13.1       13.0       —       7.8  
                                       
    Small Cap Opportunity Composite   7/1/04     3.0       11.4       11.1       7.6       10.4  
    Russell 2000 Index         7.7       10.0       10.0       5.5       7.8  
                                       
    Small Cap Growth Composite   7/1/04     6.5       8.8       9.2       8.0       10.1  
    Russell 2000 Growth Index         9.7       12.4       7.4       5.7       8.3  
                                       
    Smid Cap Growth Composite   1/1/06     16.2       11.3       8.9       11.3       10.7  
    Russell 2500 Growth Index         8.8       12.1       7.5       7.5       9.2  
    1 Returns are based upon a time weighted rate of return of various fully discretionary equity portfolios with similar investment objectives, strategies and policies and other relevant criteria managed by Silvercrest Asset Management Group LLC (“SAMG LLC”), a subsidiary of Silvercrest. Performance results are gross of fees and net of commission charges. An investor’s actual return will be reduced by the advisory fees and any other expenses it may incur in the management of the investment advisory account. SAMG LLC’s standard advisory fees are described in Part 2 of its Form ADV. Actual fees and expenses will vary depending on a variety of factors, including the size of a particular account. Returns greater than one year are shown as annualized compounded returns and include gains and accrued income and reinvestment of distributions. Past performance is no guarantee of future results. This piece contains no recommendations to buy or sell securities or a solicitation of an offer to buy or sell securities or investment services or adopt any investment position. This piece is not intended to constitute investment advice and is based upon conditions in place during the period noted. Market and economic views are subject to change without notice and may be untimely when presented here. Readers are advised not to infer or assume that any securities, sectors or markets described were or will be profitable. SAMG LLC is an independent investment advisory and financial services firm created to meet the investment and administrative needs of individuals with substantial assets and select institutional investors. SAMG LLC claims compliance with the Global Investment Performance Standards (GIPS®).
    2 The market indices used to compare to the performance of Silvercrest’s strategies are as follows:
      The Russell 1000 Index is a capitalization-weighted, unmanaged index that measures the 1000 largest companies in the Russell 3000. The Russell 1000 Value Index is a capitalization-weighted, unmanaged index that includes those Russell 1000 Index companies with lower price-to-book ratios and lower expected growth values.
      The Russell 2000 Index is a capitalization-weighted, unmanaged index that measures the 2000 smallest companies in the Russell 3000. The Russell 2000 Value Index is a capitalization-weighted, unmanaged index that includes those Russell 2000 Index companies with lower price-to-book ratios and lower expected growth values.
      The Russell 2500 Index is a capitalization-weighted, unmanaged index that measures the 2500 smallest companies in the Russell 3000. The Russell 2500 Value Index is a capitalization-weighted, unmanaged index that includes those Russell 2000 Index companies with lower price-to-book ratios and lower expected growth values.
      The Russell 3000 Value Index is a capitalization-weighted, unmanaged index that measures those Russell 3000 Index companies with lower price-to-book ratios and lower forecasted growth.

    The MIL Network –

  • MIL-OSI: Horizon Bank Announces Appointment of Senior Vice President, Director of Marketing, John D. Hatfield

    Source: GlobeNewswire (MIL-OSI)

    MICHIGAN CITY, Ind., July 31, 2025 (GLOBE NEWSWIRE) — Horizon Bank, a commercial banking subsidiary of Horizon Bancorp, Inc. (NASDAQ GS: HBNC), announced today the appointment of John Hatfield as the Senior Vice President, Director of Marketing.

    “John is a seasoned professional with 20+ years of experience in strategic marketing, business development, and branding across multiple industry verticals. He brings to Horizon a proven track record of success building cohesive teams that contribute to the strategic initiatives of organizations and tangible results for our key stakeholders,” CEO and President, Thomas Prame stated. “We believe Horizon is well-positioned for future growth in our markets through enhanced brand awareness that aligns with our core business model. We have been our client’s trusted advisors for over 150 years, and we look forward to expanding on this success with John leading our Marketing strategy.”

    “I am excited to join Horizon Bank and lead a team that shares Horizon’s desire to expand on its superior reputation as a trusted financial partner for our clients and the communities we serve,” stated Hatfield.

    In his new role, John will lead the strategic direction of Horizon’s marketing, enhancing the brand awareness and sales effectiveness of Horizon Bank. He will provide oversight and insight into the creation of multi-channel marketing campaigns aimed at customer acquisition across all lines of business. Additionally, John will expand on Horizon’s local outreach efforts, ensuring Horizon’s desire to help the communities we call home continue to thrive.

    About Horizon Bancorp, Inc.
    Celebrating over 150 years of success, Horizon Bancorp, Inc. is an independent, commercial bank holding company serving Indiana and Michigan through its commercial banking subsidiary, Horizon Bank. Horizon Bank and Horizon Bancorp, Inc. may be reached online at www.horizonbank.com. Its common stock is traded on the NASDAQ Global Select Market under the symbol HBNC.

    Contact: Thomas Prame
    Chief Executive Officer and President
    Phone: (219) 814-5983

    The MIL Network –

  • MIL-OSI: Enovix Announces Second Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., July 31, 2025 (GLOBE NEWSWIRE) — Enovix Corporation (Nasdaq: ENVX, ENVXW) (“Enovix”), a global high-performance battery company, announced that it posted on its website here a letter to shareholders from President and CEO, Dr. Raj Talluri, and CFO, Ryan Benton, discussing the company’s second quarter 2025 results. The company will host a live webcast at 5:00 PM ET / 2:00 PM PT to discuss the results and provide business updates. To register for the webcast, please visit: https://enovix-q2-2025.open-exchange.net/. 

    About Enovix

    Enovix is a leader in advancing lithium-ion battery technology with its proprietary cell architecture designed to deliver higher energy density and improved safety. The Company’s breakthrough silicon-anode batteries are engineered to power a wide range of devices from wearable electronics and mobile communications to industrial and electric vehicle applications. Enovix’s technology enables longer battery life and faster charging, supporting the growing global demand for high-performance energy storage. Enovix holds a robust portfolio of issued and pending patents covering its core battery design and manufacturing process. For more information, visit https://www.enovix.com.

    Enovix is headquartered in Silicon Valley with facilities in India, South Korea and Malaysia. For more information visit https://enovix.com and follow us on LinkedIn.

    For media and investor inquiries, please contact:

    Investor Contact:
    Robert Lahey
    ir@enovix.com

    Chief Financial Officer:
    Ryan Benton
    ryan.benton@enovix.com

    The MIL Network –

  • MIL-Evening Report: A Hawaiian epic made in NZ: why Jason Momoa’s Chief of War wasn’t filmed in its star’s homeland

    Source: The Conversation (Au and NZ) – By Duncan Caillard, Postdoctoral Research Fellow, School of Communication Studies, Auckland University of Technology

    Jason Momoa’s historical epic Chief of War, launching August 1 on Apple TV+, is a triumph of Hawaiians telling their own stories – despite the fact their film and TV production industry now struggles to be viable.

    The series stars Momoa (Aquaman, Game of Thrones) as Kaʻaina, an ali’i (chief) who fights for – and later rises against – King Kamehameha I during the bloody reunification of Hawaii.

    Already receiving advance praise, the nine-episode first season co-stars New Zealand actors Temeura Morrison, Cliff Curtis and Luciane Buchanan, alongside Hawaiian actors Kaina Makua, Brandon Finn and Moses Goods.

    A passion project for Momoa, the Hawaiian star co-created the series with writer Thomas Pa’a Sibbett after years in development. With a reported budget of US$340 million, it is one of the most expensive television series ever produced.

    It is also a milestone in Kānaka Maoli (Native Hawaiian) representation onscreen. Controversially, however, the production only spent a month in Hawaiʻi, and was mostly shot in New Zealand with non-Hawaiian crews.

    Momoa has even expressed an interest in New Zealand citizenship, but the choice of location is more a reflection of the troubled state of the film industry in Hawaiʻi. On the other hand, it is a measure of the success of the New Zealand screen industry, with potential lessons for other countries in the Pacific.

    Ea o Moʻolelo – story sovereignty

    Set at the turn of the 19th century, Chief of War tells the moʻolelo (story, history) of King Kamehameha I’s conquest of the archipelago.

    Hawaiʻi was historically governed by aliʻi nui (high chiefs), and each island was ruled independently. Motivated by the threat of European colonisation and empowered by Western weaponry, Kamehameha established the Hawaiian Kingdom, culminating in full unification in 1810.

    The series is an important example of what authors Dean Hamer and Kumu Hinaleimoana Wong-Kalu have called “Ea o Moʻolelo”, or story sovereignty, which emphasises Indigenous peoples’ right to control their own narrative by respecting the “the inalienable right of a story to its own unique contents, style and purpose”.

    Chief of War is also the biggest Hawaiian television series ever produced. Although Hawaiʻi remains a popular setting onscreen, these productions have rarely involved Hawaiians in key decision-making roles.

    Sea of troubles

    The series hits screens at a time of major disruption in Hollywood, with streaming services upending established business models.

    “Linear” network television faces declining viewership and advertising revenue. Movie studios struggle to draw audiences to theatres. The consequences for workers in the the industry have been severe, as the 2023 writers strike showed.

    Those changes have had a catastrophic impact on the Hawaiʻi film industry, too.

    Long a popular location – Hawaii Five-O (1968-1980, 2010-2020), Magnum P.I. (1980-1988, 2018-2024) and Lost (2004-2010) were all shot on location in Hawaiʻi – it is an expensive place to film.

    Actors, crew and production equipment often have to be flown in from the continental United States, and producers compete with tourism for costly accommodation.

    Kaina Makua as King Kamehameha and New Zealand actor Luciane Buchanan as Ka’ahumanu in Chief of War.
    Apple TV+

    An industry in transition

    These are not uncommon problems in distant locations, and many governments try to attract screen productions through tax incentives and rebates on portions of the production costs.

    New Zealand, for example, offers a 20-25% rebate for international productions and 40% for local productions. Hawaiʻi offers a 22-27% rebate.

    But this is less than other US states offer, such as Georgia (30%), Louisiana (40%) and New Mexico (40%). Hawaiʻi also has an annual cap of US$50 million on rebates.

    To make things even harder, Hawaiʻi offers only limited support for Indigenous filmmakers. Governments in Australia and New Zealand provide targeted funding and support for Aboriginal, Torres Strait Islander and Māori filmmakers.

    By contrast, the Hawaiʻi Film Commission doesn’t provide direct grants to local filmmakers or producers (Indigenous or otherwise). Small amounts of government funding have been administered through the Public Broadcasting Service, but this is now in jeopardy after US President Donald Trump recently cut federal funding.

    The Hawaiʻi screen industry faces a perfect storm. For the first time since 2004, film and TV production has ground to a halt. Many workers now doubt the long-term sustainability of their careers.

    Lessons from Aotearoa NZ

    While there are lessons Hawaiʻi legislators and industry leaders could learn from New Zealand’s example, there should also be a measure of caution.

    The Hawaiʻi tax credit system is out of date. But despite industry lobbying, legislation to update it failed to reach the floor of the legislature earlier this year. New tax settings would help make local production viable again.

    Secondly, decades of investment in Māori cinema have seen it become diverse, engaging and creatively accomplished. Hawaiʻi could benefit from greater direct investment in Hawaiian storytelling, respecting its cultural value even if it doesn’t turn a commercial profit.

    On the other hand, New Zealand has a favourable currency exchange rate with the US which can’t be replicated in Hawaiʻi. And New Zealand film production workers have seen their rights to unionise watered down compared to their American peers.

    But if Hawaiʻi can get its settings right, a possible second season of Chief of War may yet be filmed there, which could mark a genuine rejuvenation of its own film industry.

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

    – ref. A Hawaiian epic made in NZ: why Jason Momoa’s Chief of War wasn’t filmed in its star’s homeland – https://theconversation.com/a-hawaiian-epic-made-in-nz-why-jason-momoas-chief-of-war-wasnt-filmed-in-its-stars-homeland-261742

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Shark tales, a sinking city and a breathless cop thriller: what to watch in August

    Source: The Conversation (Au and NZ) – By Alexa Scarlata, Lecturer, Digital Communication, RMIT University

    As the cool nights continue, it’s the perfect time to cozy up with a new batch of captivating films and series.

    This month’s streaming highlights bring a little bit of everything, from gripping true crime, to thought-provoking political drama, and a nostalgic music documentary on the life and times of piano man Billy Joel.

    So grab a blanket (and maybe a snack or two). Your next binge-watch awaits.

    One Night in Idaho: The College Murders

    Prime Video

    I remember seeing the gruesome 2022 murder of four college students in Moscow, Idaho, splashed all over the news in Australia. The world seemed momentarily gripped by the brutality of the killings, which happened in off-campus housing, while two other roommates slept downstairs.

    The ensuing investigation was given significantly less attention, though. So when Prime Video dropped this four-episode limited series, well, that was my weekend sorted.

    The docuseries features exclusive interviews with the friends and families of the victims, so it doesn’t feel gratuitous. It respectfully recounts the tragedy and explores its continued impact, while honouring the victims. It also builds the kind of tension and disquiet that is so beloved in the true crime genre, but not in a way that makes you feel gross watching it.

    Notably, legal proceedings for the case were still underway when One Night in Idaho was released. And the series made it clear there was more to the story which couldn’t be shared with, or by, the producers.

    However, the trial has since concluded, with more information now available for anyone wanting to dive deeper into the case. This makes the series an absorbing watch.

    – Alexa Scarlata

    The Night of the Hunter

    Various platforms

    In 1955, director Charles Laughton crafted The Night of the Hunter: one of the darkest, strangest fairy tales ever to come out of Hollywood.

    Shortly before Ben Harper is hanged for robbing a bank and killing two men, he hides the $10,000 loot in the toy doll of his young daughter Pearl. Only Pearl and her brother John know the secret – until the deranged serial killer-priest Harry Powell hears about the money and sets out to recover it.

    Harry marries Willa, Harper’s widow, and then, after killing her, pursues John and Pearl relentlessly across West Virginia.

    Robert Mitchum’s depiction of pure evil is one of cinema’s most vivid creations, with LOVE and HATE tattooed on the fingers of each hand.

    The film did not align with the mainstream tastes of the era. Audiences and reviewers didn’t know what to make of this abnormal mix of fairy tale logic, nightmarish imagery and biblical allegory.

    Successive generations of critics and filmmakers have caught on to its brilliance. Critic Roger Ebert said it was “one of the greatest of all American films”. In 2008, French film magazine Cahiers du cinéma voted it as the second-best film of all time, behind only Citizen Kane (1941).

    The Night of the Hunter remains unsettlingly modern, 70 years on.

    – Ben McCann



    Read more:
    After 70 years, twisted gothic thriller The Night of the Hunter remains as disturbing and beguiling as ever

    Families Like Ours

    SBS On Demand

    The highest point in Denmark, Mollehoj, is 171 metres above sea level, so it is plausible to imagine the whole country being overrun by water due to rising sea levels, leading to mass evacuation. This is the basic premise of the Danish series Families Like Ours.

    The cleverness of this premise is that it turns comfortable middle-class Danes into refugees, facing hostility, poverty and violence as they seek to resettle. Given Denmark’s hard line on refugees, this makes the series politically powerful, equally so for us in Australia.

    The central figure is a young woman, Laura (Amaryllis August), who creates disaster for her family through what she believes is an act of huge empathy. The same is true of Henrik (Magnus Millang), who shoots an innocent man in what he believes is an act of self-defence.

    Families Like Ours is not a comfortable series to watch, but it manages to raise central issues of our time, without ever seeming didactic or preachy. It succeeds in combining the personal and the political in a six-part show that is powerful – and leaves enough loose ends for a potential second season.

    – Dennis Altman

    The Man from Hong Kong

    Various platforms

    A cinematic firecracker of a film exploded onto international screens 50 years ago, blending martial arts mayhem, Bond-esque set pieces, casual racism – and a distinctly Australian swagger.

    From its audacious visual style; to its complex, life-threatening stunts; to its pioneering status as an international co-production, Brian Trenchard-Smith’s The Man from Hong Kong has solidified its place as a cult classic.

    A Sydney-based crime lord’s activities come under the scrutiny of a determined Hong Kong detective, Inspector Fang Sing Leng. A fiery East-meets-West martial arts showdown explodes across the Australian landscape, pushing both sides to their limits.

    The movie is a playful pastiche that confidently combines martial arts action, police procedurals, spy thrillers, and Westerns, all filtered through a distinctly Australian “crash-zoom” lens.

    The film was an influence to Quentin Tarantino and paved the way for films such as Mad Max (1979), particularly in what Trenchard-Smith and his partner in film, stunt legend Grant Page, might call its “cunning stunts”.

    The elaborate car chases and explosive stunt setups in The Man from Hong Kong served as prototypes for iconic sequences that would inspire the Mad Max films, among others, a testament to a bygone era of practical effects and thrill seeking audacity.

    The Man from Hong Kong remains an exhilarating piece of pure cinema, despite its relatively small budget. It’s an exemplar (and occasional cautionary tale) for filmmakers in terms of international co-production, its cunning stunts, and genre blending.

    – Gregory Ferris



    Read more:
    The Man from Hong Kong at 50: how the first ever Australian–Hong Kong co-production became a cult classic

    Dept Q

    Netflix

    Based on the book series by Jussi Adler-Olsen, Dept Q is a gripping television adaptation for fans of Nordic noir and British crime drama.

    In Edinburgh, Scotland, Detective Chief Inspector Carl Morck (Matthew Goode) has returned to work after a shooting which left him physically and psychologically wounded, his colleague partially paralysed, and another colleague dead.

    With the dregs of a budget assigned to cold cases, and a team of misfit officers, Morck sets out to solve the four-year-old case of missing Crown prosecutor, Merritt Lingard (Chloe Pirrie).

    We follow Merritt’s story across various stages of her life. We see her as a teenager in the lead-up to a devastating crime that left her brother with a traumatic brain injury, as well as later in life, when she loses a major case involving a wealthy man on trial for his wife’s death.

    Shortly after the devastating verdict, Merritt went missing on a ferry ride to her childhood home, on the fictionalised island of Mhòr. Returning to the present, we see she has been held captive inside a hyperbaric chamber for the past four years.

    The pressure under which Merritt is kept makes Morck’s investigation high stakes from the start, while the movement between past and present highlights the impacts of past traumatic events on both characters.

    Dept Q is a fast-paced, breathless thriller which will leave viewers craving its rumoured second season.

    – Jessica Gildersleeve

    Billy Joel: And So It Goes

    HBO Max

    Produced by Tom Hanks, this two-part documentary about singer/songwriter Billy Joel covers more than five decades of music. Created very much from Joel’s perspective, who is also the main narrator, the archival content is fascinating, and the music difficult to deny.

    Discussion of Joel’s early suicide attempts are a shocking and terrible reminder of how different things might have been. From here, the role of the women in his life – his wives, daughters, and mother (“his champion”) – becomes vital. Beyond the headlines (particularly with his second wife Christie Brinkley), are partners who were muses, business supporters and emotional support pillars – some of whom gave Joel ultimatums when the time came to battle his alcohol addiction.

    Brinkley, as well as Joel’s first wife, Elizabeth Weber, are particularly moving interviewees. They would wait at home, or stand nervously backstage as Joel “went to work” to earn, repair and rebuild against the odds. No spoilers, but let’s just say Joel ended up in trouble more than once.

    On the other hand, the men in Joel’s life are often distant: Jewish grandparents who escaped Nazi Germany; a father who left when Joel was small; a half-brother discovered later in life. These losses are never really healed.

    Billy Joel: And So It Goes is a five-hour epic, a story of survival and ultimately, of peace. It is, of course, also a reminder of an incredible catalogue of music – joyful, ordinary and wonderful – and the extraordinary life behind it.

    – Liz Giuffre

    If you or someone you know needs help, contact Lifeline on 13 11 14

    Gardening Australia, season 36

    ABC iView

    Since it first aired in 1990, Gardening Australia has offered tips and inspiration from every state and territory on a weekly basis. A perennial favourite, the show seems to possess perpetual appeal for world-weary viewers open to slowing down by growing plants.

    The no-nonsense host Peter Cundall helmed the series until 2008 (Cundall died in 2021 at the age of 94). The honour of “King of Compost” now rests with the gregarious Costa Georgiadis, and a wider cast of presenters that has expanded to be more diverse and engaging. One stalwart from the start, Jane Edmanson, is still flourishing in season 36: her episode 4 segment titled “Fronds with Benefits” certainly caught my eye.

    Topics covered this season range from small-space innovation and passion projects, to Indigenous knowledge and bush foods, through to permaculture and climate change. Episodes 6 and 20 – specials on native plants and NAIDOC Week, respectively – are both worth a watch.

    While the series can distance renters, and might not be edgy enough for younger audiences, it has managed to stake out ground in the digital realm – with a blooming online presence for budding green thumbs.

    One of the longest-running Australian shows still on air, it doesn’t look as though Gardening Australia will be pulling up roots anytime soon.

    – Phoebe Hart

    The Buccaneers, season two

    Apple TV

    Loosen your corsets, The Buccaneers is back for a second season of feminist sisterhood and fabulous gowns.

    Adapted from Edith Wharton’s unfinished final novel, the series follows a group of outspoken young American women navigating the marriage market in 1870s Victorian England. Gleefully anachronistic with feisty girl power speeches and a contemporary pop music soundtrack, The Buccaneers is equal parts Bridgerton and Gossip Girl (complete with a character played by Leighton Meester).

    Season two picks up where the first left off, with Jinny (Imogen Waterhouse) and Guy (Matthew Broome) fleeing the country to escape Jinny’s violent husband Lord James Seadown (Barney Fishwick).

    Meanwhile, sister Nan (Kristine Froseth) is busy back home leveraging her position as Duchess of Tintagel to help facilitate Jinny’s return – a campaign that includes wearing a showstopping red gown to a black and white ball. In keeping with the series’ M.O., this might be narrative nonsense, but it looks exquisite.

    While trysts and love triangles continue to provide escapist entertainment, Jinny’s abusive marriage dominates later episodes. If season one sought to expose the isolation and entrapment Jinny endured in her marriage, season two foregrounds her resistance in the face of it, intent on highlighting how perpetrators of violence manipulate legal and medical systems to tighten the noose around victims’ necks.

    Season two’s veering between frothy excess and melodrama arguably results in some tonal patchiness. Nonetheless, it should be commended for its careful treatment of the corrosive impacts and dangers of coercive control. This – more than the downloadable soundtrack and dazzling costumes – makes it good viewing.

    – Rachel Williamson

    Dangerous Animals

    Prime Video

    Dangerous Animals is perhaps the most original and entertaining shark horror film we have seen since Jaws – incorporating traditional elements of the shark thriller genre, while challenging them at the same time.

    The film starts with the primal fear of being eaten alive by monstrous sharks, with gruesome shock-thrill scenes of tourists being torn apart in a blood red ocean.

    But later, the narrative reminds us it is the boat captain, not the great white, who is the real sadistic killer. Predictably, we see a young bikini-clad woman who gets horribly dismembered (just like the first unforgettable victim in Jaws).

    However, it is also a fearless bikini-clad woman, Zephyr (Hassie Harrison) who turns the tables on the boat captain, outwits him, rescues her boyfriend and even makes friends with the shark.

    Dangerous Animals includes some interesting subtext and commentary, such as when it compares women to fish – creatures hunted for sport – and when it highlights the inherent cruelty of fishing, and the hook that impales the prey.

    The film delivers sophisticated special effects and gruesome eco-horror entertainment. It is a fun, self-aware and postmodern watch that will leave you thinking.

    The Australian influence is delightfully evident in the irreverent humour. And for anyone who has been to the Gold Coast, there is much pleasure in seeing the film play out across its iconic locations.

    This film will trigger your childhood fear of Jaws – but with a twist.

    – Susan Hopkins

    Shark Whisperer

    Netflix

    In Shark Whisperer, the great white shark gets an image makeover – from Jaws villain to misunderstood friend and admirer.

    However the star of the documentary is not so much the shark, but the model and marine conservationist Ocean Ramsey (yes, that’s her real name).

    The film centres on Ramsey’s self-growth journey, with the shark co-starring as a quasi-spiritual medium for finding meaning and purpose (not to mention celebrity status).

    Whisperer and the Ocean Ramsey website tap into the collective fascination with dangerous sharks fuelled by popular culture. Many online images show Ramsey in a bikini or touching sharks – she’s small, and vulnerable in the face of great whites. As with forms of celebrity humanitarianism, what I have dubbed “sexy conservationism” leaves itself open to criticism about its methods – even if its intentions are good.

    Globally at least 80 million sharks are killed every year. Thanks in part to the hashtag activism of Ocean Ramsey and her millions of fans and followers, Hawaii was the first state in the United States to outlaw shark fishing.

    So, Ramsey may be right to argue her ends justify the means.

    – Susan Hopkins



    Read more:
    Netflix’s Shark Whisperer wants us to think ‘sexy conservation’ is the way to save sharks – does it have a point?

    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. Shark tales, a sinking city and a breathless cop thriller: what to watch in August – https://theconversation.com/shark-tales-a-sinking-city-and-a-breathless-cop-thriller-what-to-watch-in-august-261952

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: How can I tell if I am lonely? What are some of the signs?

    Source: The Conversation (Au and NZ) – By Marlee Bower, Senior Research Fellow, Matilda Centre for Research in Mental Health and Substance Use, University of Sydney

    gremlin/Getty Images

    Without even realising it, your world sometimes gradually gets smaller: less walking, fewer days in the office, cancelling on friends. Watching plans disintegrate on the chat as friends struggle to settle on a date or place for a catch-up.

    You might start to feel a bit flat or disconnected. Subtle changes in habit and mood take hold. Could you be … lonely?

    It’s not a label many of us identify with easily, especially if you know you’ve got friends, or are in a happy relationship.

    But loneliness can happen to us all from time to time – and identifying it is the first step to fixing it.

    So, what is loneliness?

    Loneliness is the distress we feel when our relationships don’t meet our needs – in quality or quantity.

    It’s not the same as being objectively alone (otherwise known as “social isolation”).

    You can feel deeply lonely even while surrounded by friends, or totally content on your own.

    Loneliness is subjective; many people don’t realise they’re lonely until the feeling becomes persistent.

    What are some of the signs to look for?

    You may feel a physical coldness, emptiness or hollowness (I’ve heard it described as feeling like you are missing an organ). Some research shows social pain is experienced similarly in the brain to physical pain.

    Behavioural signs may include:

    • changes in routine
    • trouble getting to sleep or staying asleep
    • changed appetite (maybe you’re eating more or less than you normally would, or have less variety in your diet)
    • withdrawing from plans you would usually enjoy (perhaps you’re skipping a regular exercise class, or going to shows or sports events less often).

    Emotionally, you may feel:

    • a persistent sadness
    • tired
    • disconnected
    • like you don’t belong, even when you are with others.

    You may also feel more sensitive to rejection or criticism.

    Sometimes, your world shrinks so gradually you barely notice it – until things get quite bad.
    francescoch/Getty Images

    But you’re not alone and you’re not broken.

    Loneliness is a normal response to disconnection.

    The late US neuroscientist John Cacioppo described loneliness as an evolutionary alarm system.

    In the past, being separated from your tribe meant danger and risk from predators, so our brains developed a way to push us back towards connection.

    The pain of loneliness is designed to keep us connected and safe.

    Why is it often hard to recognise loneliness?

    Sadly, there’s still a lot of stigma around admitting loneliness, especially for men.

    Many people resist identifying as lonely, or feel this marks them as a “loser”.

    But this silence can make the problem worse.

    When no one talks about it, it becomes harder to break the cycle of loneliness, and the stigma remains.

    While passing loneliness is normal, chronic or persistent loneliness can hurt our health.

    Research shows chronic loneliness is associated with:

    • depression
    • anxiety
    • weakened immunity
    • heart disease
    • earlier death.

    Loneliness can also become self-reinforcing. When loneliness feels normal, it can start to shape how you see the world: you expect rejection, withdraw more and the cycle deepens.

    The earlier you notice you’re lonely, the easier it is to break.

    But I’m in a relationship, have loads of friends and a rewarding job

    Yes, but you can still be lonely.

    Most of us need different kinds of relationships to thrive. It’s not about how many people you know, but whether you feel connected and have a meaningful role in these relationships.

    You may feel lonely even with strong friendships if you are lacking deeper connection, shared identity or a sense of community.

    This doesn’t mean you’re ungrateful, or a bad friend.

    It just means you need more or different kinds of connection.

    OK, I’ve realised I am lonely. Now what?

    Start by asking yourself: what kind of connection am I missing?

    Is it one-to-one friendships? A partner? Casual social interactions? A shared purpose or community?

    Then reflect on what’s helped you feel more connected in the past. For some, it’s joining a choir, a book club or a sports group. For others, it may be volunteering or just saying “yes” to small social moments, like chatting with your local barista or learning the name of the local butcher.

    If you’re still struggling, a psychologist can help with tailored strategies for building connection.

    The structural causes of loneliness

    It’s also important to remember loneliness is often not because of personal failings or overall mental health.

    My own research shows loneliness is often shaped by structural factors, such as poor planning in our local neighbourhood environments, financial inequality, work pressures, social norms, or even long-term effects of restrictions from the COVID pandemic.

    We are also learning more about how climate change can disrupt social connection and worsen loneliness due to, for example, higher temperatures or bushfires.

    Loneliness is normal, common, human and completely solvable.

    Start by noticing it in yourself and reach out if you can.

    Let’s start talking about it more, so others can feel less alone too.

    Marlee Bower receives funding from the Henry Halloran Urban and Regional Research Initiative, the BHP Foundation, AHURI and NHMRC. She is affiliated with the University of Sydney Matilda Centre for Research in Mental Health and Substance Use and Australia’s Mental Health Think Tank.

    – ref. How can I tell if I am lonely? What are some of the signs? – https://theconversation.com/how-can-i-tell-if-i-am-lonely-what-are-some-of-the-signs-261262

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Colombia is producing more cocaine than ever – and more is reaching Australian shores

    Source: The Conversation (Au and NZ) – By Cesar Alvarez, Lecturer in Terrorism and Security Studies, Charles Sturt University

    Members of the Colombian anti-narcotics police test cocaine after a drug bust. RAUL ARBOLEDA/AFP via Getty Images

    Imagine an area larger than the Australian Capital Territory, nearly twice the size of London and four times that of New York City covered in coca plantations.

    That’s the scale of Colombia’s coca cultivation, according to an estimate from the United Nations Office of Drugs and Crime (UNODC).

    Colombia produces an estimated 2,664 metric tonnes of cocaine annually. That is enough to fill 20 Boeing 747 cargo planes per year.

    Not even during the darkest days of Pablo Escobar’s infamous empire did Colombia cultivate as much coca or produce as much cocaine as it does today.

    In the past year alone, coca crops expanded by 10% and production capacity soared more than 50%.

    So how did it come to this?

    A worrying mix

    Colombia did not arrive at this point overnight, nor by chance. A complex mix of radical and failed policy shifts, scientific innovation and global demand, among other factors, has shaped this trajectory.

    For example, in 2015, Colombia’s Constitutional Court suspended aerial fumigation and banned the use of glyphosate. Despite the herbicide’s effectiveness in killing coca plants, the court cited concerns over its health risks and environmental impact.

    Aerial spraying had allowed the government to reduce the risk that manual eradication brigades were exposed to over large areas.

    In 2016, then-president Juan Manuel Santos introduced a scheme to substitute coca with non-illicit plants. Incentives were offered to farmers. However, it ended up encouraging many peasants who had never grown coca before to begin cultivating it, simply to qualify for the new subsidies.

    It is no surprise that during Santos’ second term (2014–18), Colombia’s coca crops nearly doubled, from 96,000 hectares to more than 170,000.

    This was all in an effort to secure a peace deal with the narco-terrorist group Revolutionary Armed Forces of Colombia (FARC).

    More recently, in 2022, President Gustavo Petro announced his Paz Total (Total Peace) policy. This was designed to bring trafficking organisations – including Colombia’s second largest narco-terrorist group, the National Liberation Army (ELN) – to the negotiation table.

    Ironically, and paradoxically, Colombia is now producing more drugs than ever. It is also experiencing a sharp increase in violence by non-state armed groups.

    The impact on Australia

    What happens in Colombia matters to Australia because criminal innovation is fuelling greater cocaine volumes and higher purity. This means more is flowing towards Australian shores.

    Colombia’s coca production is being reshaped by enhanced cultivation techniques, more secure and autonomous smuggling methods, and an increasingly fragmented criminal landscape.

    Production is now more efficient and profitable than ever. Growers are planting improved coca leaf varieties and achieve more harvest cycles per year with higher alkaloid yields per kilo.

    Smuggling methods have also evolved.

    Semi-submersibles or narco-submarines are increasing in storage capacity. Recent seizures show manned vessels with four to five tonnes of capacity are now the rule rather than the exception.

    Some networks are also transitioning from manned to unmanned operations.

    Also, the growing presence and operational influence of Mexican cartels in Colombia has amplified the scope and scale of alliances between transnational organised crime groups across Europe, Asia and Oceania. International police investigations are even more complex.

    Like much of the world, there is a growing demand for and increasing use of cocaine in Australia.

    Despite record-high seizure numbers and total volumes intercepted, Australia is still among the most attractive destination markets for drug trafficking organisations because of the high price users pay for the drugs.

    Unless something radically changes in Colombia, Australia continues to face growing risks from maritime trafficking routes. There is also an increased threat of being used as a transit and money laundering hub in the global drug economy.

    Some possible solutions

    Even if conditions in Colombia were to change swiftly and drastically, supply-focused strategies alone are insufficient to mitigate the risks facing Australia.

    After all, Colombia cannot simply fumigate its way out of this cocaine crisis, just as Australia cannot arrest its way out of it.

    However, continued collaboration between the Australian Federal Police and the National Police of Colombia remains essential to keep drugs at bay.

    The appointment of Colombia’s first police attaché to Australia will be a welcome and meaningful step forward. (While not yet formally announced, the Colombian embassy in Australia has informed me and several other experts the country is appointing the attaché.)

    Both countries must deepen this relationship and collectively engage meaningfully and frequently to help solve the problem.

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

    – ref. Colombia is producing more cocaine than ever – and more is reaching Australian shores – https://theconversation.com/colombia-is-producing-more-cocaine-than-ever-and-more-is-reaching-australian-shores-261745

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Industrial-scale deepfake abuse caused a crisis in South Korean schools. Here’s how Australia can avoid the same fate

    Source: The Conversation (Au and NZ) – By Joel Scanlan, Senior Lecturer in Health Information Management, University of Tasmania

    South Korea’s deepfake crisis triggered a wave of protests in 2024. Anthony WALLACE / AFP

    Australian schools are seeing a growing number of incidents in which students have created deepfake sexualised imagery of their classmates. The eSafety Commissioner has urged schools to monitor the situation.

    In 2024, the problem of deepfakes became a crisis in South Korea: more than 500 schools and universities were targeted in a coordinated wave of deepfake sexual abuse.

    AI-generated sexualised images of students — mostly girls — were circulated in encrypted Telegram groups. The perpetrators were often classmates of the victims.

    A new report from global child-protection group ECPAT with funding from the UK-based Churchill Fellowship takes a close look at what happened in Korea, so other countries can understand and avoid similar crises. Here’s what Australia can learn.

    A glimpse into our future?

    The events in South Korea were not just about deepfake technology. They were about how the technology was used.

    Perpetrators created groups on the Telegram messaging platform to identify mutual acquaintances in local schools or universities. They then formed “Humiliation Rooms” to gather victims’ photos and personal information so they could create deepfake sexual images.

    Rooms for more than 500 schools and universities have been identified, often with thousands of members. The rooms were filled with deepfake imagery, created from photos on social media and the school yearbook.

    Bots within the app allowed users to generate AI nudes in seconds. One such bot had more than 220,000 subscribers. The bot gave users two deepfake images for free, with additional images available for the equivalent of one Australian dollar.

    Telegram screenshots show an automated deepfake bot that charges users to produce images.
    Telegram

    This wasn’t the dark web. It was happening on a mainstream platform, used by millions.

    And it wasn’t just adult predators. More than 80% of those arrested were teenagers. Many were described as “normal boys” by their teachers — students who had never shown signs of violent behaviour before.

    The abuse was gamified. Users earned rewards for inviting friends, sharing images, and escalating the harm. It was social, yet anonymous.

    Could this happen in Australia?

    We have already seen smaller, less organised deepfake incidents in Australian schools. However, the huge scale and ease of use of the Korean abuse system should be cause for alarm.

    The Australian Centre to Counter Child Exploitation recorded 58,503 reports of pictures and videos of online child abuse in the 2023–24 financial year. This is an average of 160 reports per day (4,875 reports a month), a 45% increase from the previous year.

    This increase is likely to continue. In response to these risks, the Australian government, through the eSafety Commissioner, is applying the existing Basic Online Safety Expectations to generative AI services. This creates a clear expectation these services must work proactively to prevent the creation of harmful deepfake content.

    Internationally, the European Union’s AI Act has set a precedent for regulating high-risk AI applications, including those that affect children. In the United States, the proposed Take It Down Act aims to criminalise the publication of non-consensual intimate images, including AI-generated deepfakes.

    These are a start, but a lot more work remains to be done to provide a safe online environment for young people. The Korean experience shows how easily things can escalate when these tools are used at scale, especially in peer-to-peer abuse among adolescents.

    5 lessons from Korea

    The South Korean crisis holds several lessons for Australia.

    1. Prevention must start early. Korea’s crisis involved children as young as 12 (and even younger in some primary schools targeted). We need comprehensive digital ethics and consent education in primary schools, not just in high schools.

    2. Law enforcement needs AI tools of their own to keep up. Just as offenders are using AI to scale up abuse, police must be equipped with AI to detect and investigate it. This may include facial recognition, content detection, and automated triage systems, all governed by strict privacy protocols.

    3. Platforms must also be held accountable. Telegram only began cooperating with South Korean authorities after immense public pressure. Australia must enforce safety-by-design principles and ensure encrypted platforms are not safe havens for abuse.

    4. Support services must be scaled up. Korea’s crisis caused trauma for entire communities. Victims often had to continuing going to school with perpetrators in the same classrooms. Australia must invest in trauma-informed support systems that can respond to both individual and collective harm.

    5. We must listen to victims and survivors. Policy must be shaped by those who have experienced digital abuse. Their insights are crucial to designing effective and compassionate responses.

    The Korean crisis didn’t happen overnight. The warning signs were there: in 2023 Korea produced more than half the world’s celebrity deepfakes). This has been accompanied by rising misogyny online and the proliferation of AI tools. But they were ignored until it was too late. Australia mustn’t make the same mistake.

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

    – ref. Industrial-scale deepfake abuse caused a crisis in South Korean schools. Here’s how Australia can avoid the same fate – https://theconversation.com/industrial-scale-deepfake-abuse-caused-a-crisis-in-south-korean-schools-heres-how-australia-can-avoid-the-same-fate-262322

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Fairfax India Holdings Corporation: Second Quarter Financial Results

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

    (Note:   All dollar amounts in this press release are expressed in U.S. dollars except as otherwise noted. The financial results are derived from unaudited financial statements prepared using the recognition and measurement requirements of International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS®Accounting Standards”), except as otherwise noted. This press release contains certain non-GAAP and other financial measures, including book value per share and cash and marketable securities, that do not have a prescribed meaning under IFRS Accounting Standards and may not be comparable to similar financial measures presented by other issuers. See “Glossary of non-GAAP and other financial measures” at the end of this press release for further details.)
         

    TORONTO, July 31, 2025 (GLOBE NEWSWIRE) — Fairfax India Holdings Corporation (TSX: FIH.U) announces net earnings of $278.1 million ($2.06 net earnings per diluted share) in the second quarter of 2025, compared to net earnings of $254.1 million in the second quarter of 2024 ($1.88 net earnings per diluted share). The company’s book value per share increased 10.4% to $21.43 at June 30, 2025 from $19.41 at March 31, 2025 ($20.96 at December 31, 2024), primarily due to unrealized gains recorded on the company’s publicly listed investments.

    Highlights for the second quarter of 2025 included the following:

    • Net change in unrealized gains on investments of $330.9 million principally arose from increases in the fair values of the company’s publicly listed investments of $329.1 million, including IIFL Capital ($129.2 million), IIFL Finance ($110.2 million), CSB Bank ($73.3 million), Fairchem Organics ($11.4 million) and 5paisa ($5.0 million), and private company investments of $0.8 million including BIAL ($6.3 million) and Seven Islands ($3.5 million), partially offset by unrealized losses on the company’s investment in Sanmar ($12.3 million).
    • The company continued to buy back shares under its normal course issuer bid and during the second quarter of 2025 purchased for cancellation 28,758 subordinate voting shares at a net cost of $0.4 million ($15.19 per subordinate voting share).

    Fairfax India is in strong financial health, with cash and marketable securities at June 30, 2025 of $107.0 million and $79.2 million available under its revolving credit facility.

    There were 134.8 million and 135.2 million weighted average common shares outstanding during the second quarters of 2025 and 2024, respectively. At June 30, 2025 there were 104,810,704 subordinate voting shares and 30,000,000 multiple voting shares outstanding.

    Unaudited balance sheets, earnings (loss) and comprehensive income (loss) information follow and form part of this press release. Fairfax India’s detailed second quarter report can be accessed at its website www.fairfaxindia.ca.

    Fairfax India Holdings Corporation is an investment holding company whose objective is to achieve long term capital appreciation, while preserving capital, by investing in public and private equity securities and debt instruments in India and Indian businesses or other businesses with customers, suppliers or business primarily conducted in, or dependent on, India.

    For further information, contact: John Varnell, Vice President, Corporate Affairs
    (416) 367-4755
       

    CONSOLIDATED BALANCE SHEETS
    as at June 30, 2025 and December 31, 2024
    (unaudited – US$ thousands except per share amounts)

        June 30, 2025
    		     December 31, 2024
    		  
    Assets        
    Cash and cash equivalents     20,216       59,322  
    Bonds     110,134       180,507  
    Common stocks     3,738,804       3,381,206  
    Total cash and investments     3,869,154       3,621,035  
             
    Interest and dividends receivable     3,173       8,849  
    Income taxes refundable     174       174  
    Other assets     582       722  
    Total assets     3,873,083       3,630,780  
             
    Liabilities        
    Accounts payable and accrued liabilities     1,019       1,300  
    Accrued interest expense     9,004       8,611  
    Income taxes payable     844       5,379  
    Payable to related parties     10,572       10,099  
    Payable for securities purchased     170,850       —  
    Deferred income taxes     163,039       149,780  
    Borrowings     498,610       498,349  
    Total liabilities     853,938       673,518  
             
    Equity        
    Common shareholders’ equity     2,888,397       2,826,495  
    Non-controlling interests     130,748       130,767  
    Total equity     3,019,145       2,957,262  
          3,873,083       3,630,780  
             
             
    Book value per share   $ 21.43     $ 20.96  

    CONSOLIDATED STATEMENTS OF EARNINGS (LOSS)
    for the three and six months ended June 30, 2025 and 2024
    (unaudited – US$ thousands except per share amounts)

      Second quarter   First six months
        2025       2024       2025       2024  
    Income              
    Interest   1,814       4,730       5,010       9,768  
    Dividends   274       489       3,272       7,538  
    Net realized gains on investments   83       101,400       699       218,324  
    Net change in unrealized gains (losses) on investments   330,883       183,812       108,021       (227,115 )
    Net foreign exchange gains (losses)   (2,129 )     364       1,116       (12 )
        330,925       290,795       118,118       8,503  
    Expenses              
    Investment and advisory fees   10,643       10,122       20,042       19,606  
    General and administration expenses   1,363       2,108       3,011       4,644  
    Interest expense   7,232       6,381       13,987       12,761  
        19,238       18,611       37,040       37,011  
                   
    Earnings (loss) before income taxes   311,687       272,184       81,078       (28,508 )
    Provision for income taxes   33,128       18,037       13,986       10,554  
    Net earnings (loss)   278,559       254,147       67,092       (39,062 )
                   
    Attributable to:              
    Shareholders of Fairfax India   278,113       254,142       66,889       (39,362 )
    Non-controlling interests   446       5       203       300  
        278,559       254,147       67,092       (39,062 )
                   
    Net earnings (loss) per basic and diluted share $ 2.06     $ 1.88     $ 0.50     $ (0.29 )
    Shares outstanding (weighted average)   134,813,388       135,152,447       134,826,353       135,259,190  

    CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
    for the three and six months ended June 30, 2025 and 2024
    (unaudited – US$ thousands)

      Second quarter   First six months
      2025     2024     2025     2024  
                   
    Net earnings (loss) 278,559     254,147     67,092     (39,062 )
    Other comprehensive loss, net of income taxes              
    Item that may be subsequently reclassified to net earnings (loss)              
    Unrealized foreign currency translation losses, net of income taxes of nil
    (2024 – nil)    		 (6,843 )   (633 )   (4,797 )   (6,341 )
    Comprehensive income (loss) 271,716     253,514     62,295     (45,403 )
                   
    Attributable to:              
    Shareholders of Fairfax India 271,705     253,486     62,314     (45,440 )
    Non-controlling interests 11     28     (19 )   37  
      271,716     253,514     62,295     (45,403 )

    This press release may contain forward-looking statements within the meaning of applicable securities legislation. Forward-looking statements may relate to the company’s or an Indian Investment’s future outlook and anticipated events or results and may include statements regarding the financial position, business strategy, growth strategy, budgets, operations, financial results, taxes, dividends, plans and objectives of the company. Particularly, statements regarding future results, performance, achievements, prospects or opportunities of the company, an Indian Investment, or the Indian market are forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. 

    Forward-looking statements are based on our opinions and estimates as of the date of this press release, and they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the following factors: oil price risk; geographic concentration of investments; potential lack of diversification; foreign currency fluctuation; volatility of the Indian securities markets; investments may be made in foreign private businesses where information is unreliable or unavailable; valuation methodologies involve subjective judgments; financial market fluctuations; pace of completing investments; minority investments; reliance on key personnel and risks associated with the Investment Advisory Agreement; disruption of the company’s information technology systems could significantly affect the company’s business; lawsuits; use of leverage; significant ownership by Fairfax may adversely affect the market price of the subordinate voting shares; trading price of subordinate voting shares relative to book value per share risk; weather risk; taxation risks; emerging markets; legal, tax and regulatory risks; MLI; economic risk; reliance on trading partners; and economic disruptions from conflicts in Ukraine and the Middle East and the development of other geopolitical events and economic disruptions worldwide. Additional risks and uncertainties are described in the company’s annual information form dated March 7, 2025 which is available on SEDAR+ at www.sedarplus.ca and on the company’s website at www.fairfaxindia.ca. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the company. These factors and assumptions, however, should be considered carefully.

    Although the company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The company does not undertake to update any forward-looking statements contained herein, except as required by applicable securities laws.

    GLOSSARY OF NON-GAAP AND OTHER FINANCIAL MEASURES

    Management analyzes and assesses the financial position of the consolidated company in various ways. Certain of the measures included in this press release, which have been used consistently and disclosed regularly in the company’s Annual Reports and interim financial reporting, do not have a prescribed meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other companies. Those measures are described below.

    Book value per share – The company considers book value per share a key performance measure in evaluating its objective of long term capital appreciation, while preserving capital. This measure is also closely monitored as it is used to calculate the performance fee, if any, to Fairfax Financial Holdings Limited. This measure is calculated by the company as common shareholders’ equity divided by the number of common shares outstanding.

    Cash and marketable securities – The company uses this measure to monitor short term liquidity risk. This measure is calculated by the company as the sum of cash, cash equivalents, short term investments and Government of India bonds.

    The MIL Network –