NewzIntel.com

Category: Asia

  • MIL-OSI United Nations: Update 304 – IAEA Director General Statement on Situation in Ukraine

    Source: International Atomic Energy Agency (IAEA)

    The International Atomic Energy Agency (IAEA) this week provided Ukraine with a freight vehicle for the transport of radioactive material, its 150th delivery of equipment to support nuclear safety and security in the country during the military conflict, Director General Rafael Mariano Grossi said today.

    State Enterprise USIE Izotop – involved in the management of radioactive material intended for medical, industrial and other purposes – received the truck that was funded by the European Union (EU) and Sweden. IAEA staff helped ensure that transport safety and security considerations were taken into account in the design of the vehicle.

    “Since the start of the conflict three and a half years ago, the IAEA has coordinated assistance for Ukraine of a wide range of technical equipment, medical supplies and other items that are of vital importance for nuclear safety and security. These deliveries are part of our overall efforts aimed at preventing a nuclear accident during this devastating war,” Director General Grossi said.

    “Thanks to the generous support of many of our Member States and the European Union, we have now carried out shipments with a total value of more than 19 million euros, each one helping to enhance different aspects of nuclear safety and security,” he said.

    Several other deliveries have taken place in recent weeks, supported by Belgium, the EU and Japan: the regional state laboratory in Mykolaiv province – badly affected by the destruction of the Kakhovka dam in mid-2023 – received a real-time PCR cycler (Polymerase Chain Reaction, a nuclear-derived technique) for fast and accurate analysis to help it fight the spread of disease as a result of the flooding; the medical unit of the Rivne Nuclear Power Plant received an ultrasound system; and a subsidiary of national nuclear operator Energoatom received a cryostat system ensuring continuity of services affected by power cuts and liquid nitrogen supply challenges.

    Director General Grossi said nuclear safety and security remains under threat in Ukraine.

    At the Zaporizhzhya Nuclear Power Plant (ZNPP), the IAEA team based at the site has continued to hear shelling, explosions, and gunfire almost every day.

    Earlier this month, the ZNPP informed the IAEA team that the site’s training centre was targeted in a drone strike on 13 July, resulting in damage to its roof. There were no reports of casualties. The team was not granted access to assess the damage to the training centre located outside the site perimeter, with the plant citing security concerns.

    In addition, the ZNPP’s off-site power situation continues to be extremely fragile, with the plant having had access to just one single power line for almost three months now, compared to ten before the conflict.

    The nearby city of Enerhodar – where most ZNPP staff live – suffered an electricity blackout on 17 July due to damage to its main power line, according to information provided to the IAEA team members.  They were also told that subsequent shelling had damaged some buildings in the city, which was also observed when the team visited Enerhodar on 19 July.

    A forest fire near Enerhodar that caused smoke which was observed by the IAEA team last weekend has been extinguished without any impact on nuclear safety, the plant said.  

    The IAEA team has continued to carry out walkdowns across the ZNPP site to monitor nuclear safety and security, observing the testing of three emergency diesel generators as well as visiting the containment and safety system rooms of two reactor units.

    They also discussed with the plant management different options for refilling the plant’s cooling pond following the loss of the Kakhovka dam two years ago and further planning on emergency preparedness and response, including preparations for a site exercise later this year.

    At Ukraine’s operating nuclear power plants (NPPs) – Khmelnytskyy, Rivne and South Ukraine – three of their total of nine units are currently in shutdown for refuelling and maintenance.

    The IAEA team based at these plants, and the Chornobyl site, reported hearing air raid alarms nearly every day over the past week.

    At the Khmelnytskyy and South Ukraine NPPs, the IAEA teams were informed that during the night of 18 July drones were detected a few kilometres away from the two sites. That same evening, the team at Chornobyl observed flashes of light and heard explosions in the distance.

    MIL OSI United Nations News –

  • MIL-OSI Asia-Pac: Hong Kong Week 2025@Seoul showcases arts and cultural strengths and diversity (with photos)

    Source: Hong Kong Government special administrative region

    Hong Kong Week 2025@Seoul showcases arts and cultural strengths and diversity ???
         HK Week@Seoul will premiere tomorrow (July 25) with the pre-festival “Wu Guanzhong Art Sponsorship Overseas Exhibition Series: Wu Guanzhong: Between Black and White”, where 17 masterworks by the great Chinese painter Wu Guanzhong (1919-2010) from the collection of the Hong Kong Museum of Art will be exhibited for the first time in Korea, offering the audience a glimpse into his poetic world of ink and oil.
     
         The grand opening programme of HK Week@Seoul, “Romeo + Juliet” by Hong Kong Ballet, is choreographed by Septime Webre to reinterpret Shakespeare’s classic love story with Hong Kong in the 1960s as the backdrop, presenting Hong Kong’s East-meets-West artistic style.
     
         Dance highlights include the grand dance poem “A Dance of Celestial Rhythms” by the Hong Kong Dance Company, which integrates dance and lights inspired by the ancient Solar Terms; “Mr Blank 2.0” by the City Contemporary Dance Company, which explores disorientation and awakening of human nature through the interplay of physical space and digital projections; and “CollabAsia”, a collaboration between the Hong Kong Academy for Performing Arts and Sungkyunkwan University in Korea showcasing cross-cultural exchange between students.
     
         For music, the concert “Yan Huichang & Hong Kong Chinese Orchestra” will present various captivating music pieces in partnership with Korean musicians Kim Suin and Park Joonho as well as the Wizard Children’s Choir. The concert “Lio Kuokman, Yekwon Sunwoo & Hong Kong Philharmonic” will feature an orchestral concert led by the Hong Kong Philharmonic Orchestra’s Resident Conductor Lio Kuokman and Korean pianist Yekwon Sunwoo, performing a wide range of classical works from the contemporary and romantic eras.
     
          Pop culture will be highlighted by “ImagineLand@Seoul”, an outdoor concert bringing together Hong Kong and Korean singers, including Jonathan Wong and Korean singer Lena Park, for a vibrant showcase of pop music. The concert will also include classical music and original soundtracks from classic Korean dramas and Hong Kong movies. The concert will be followed by a screening of Hong Kong’s classic movie “An Autumn’s Tale” (1987), starring Chow Yun-fat and Cherie Chung.
     
         Film enthusiasts can enjoy two programmes. “‘Movies-to-GO’ – Border Crossings in Hong Kong Cinema – Korea” will screen two Hong Kong-Korean co-productions and four Hong Kong classic movies from the 1960s to 1980s, including the world premiere of a 4K digital restoration of “The Story of a Discharged Prisoner” (1967). “Making Waves – Navigators of Hong Kong Cinema” will screen more recent Hong Kong productions that reflect the city’s evolving cinematic voice.
     
         Two programmes supported by the Hong Kong Arts Development Council (HKADC) are “Travel of the Soul: Echoes after Time”, a dance piece by choreographer Terry Tsang collaborating with Korean dance luminaries, and “HKADC x BAC: Asian Modern Symphony Orchestra with Wilson Ng”, a concert where conductor Wilson Ng will lead musicians from Hong Kong, Korea and other parts of Asia to perform classical music spanning different eras and places, including a performance by renowned Hong Kong pianist Wong KaJeng.
     
         The Cultural and Creative Industries Development Agency will launch two exhibitions. The “Hong Kong Comics and Culture Exhibition” will present over 80 exhibits from Hong Kong’s martial arts-themed and satirical comic works, including classics such as “Old Master Q” and “My Boy”, as well as the successful cross-sectoral collaboration between Hong Kong’s comics and film and television. “LOCAL POWER Hong Kong Fashion Show and Exhibition in Seoul” will showcase approximately 110 fashion pieces by designers from Hong Kong and other cities of the Guangdong-Hong Kong-Macao Greater Bay Area and from Korea, while staging a fashion presentation blending AI technology with Cantopop and K-pop.
     
         Information on the dates and venues of the above programmes is set out in the Annex. Tickets for “Romeo + Juliet” and the concert “Yan Huichang & Hong Kong Chinese Orchestra” will be available for sale from tomorrow (July 25). Tickets for “A Dance of Celestial Rhythms”, the concert “Lio Kuokman, Yekwon Sunwoo & Hong Kong Philharmonic” and “Mr Blank 2.0” will be available for sale from August 8. For details, please visit www.hongkongweek.gov.hkIssued at HKT 16:55

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Security: Update 304 – IAEA Director General Statement on Situation in Ukraine

    Source: International Atomic Energy Agency – IAEA

    The International Atomic Energy Agency (IAEA) this week provided Ukraine with a freight vehicle for the transport of radioactive material, its 150th delivery of equipment to support nuclear safety and security in the country during the military conflict, Director General Rafael Mariano Grossi said today.

    State Enterprise USIE Izotop – involved in the management of radioactive material intended for medical, industrial and other purposes – received the truck that was funded by the European Union (EU) and Sweden. IAEA staff helped ensure that transport safety and security considerations were taken into account in the design of the vehicle.

    “Since the start of the conflict three and a half years ago, the IAEA has coordinated assistance for Ukraine of a wide range of technical equipment, medical supplies and other items that are of vital importance for nuclear safety and security. These deliveries are part of our overall efforts aimed at preventing a nuclear accident during this devastating war,” Director General Grossi said.

    “Thanks to the generous support of many of our Member States and the European Union, we have now carried out shipments with a total value of more than 19 million euros, each one helping to enhance different aspects of nuclear safety and security,” he said.

    Several other deliveries have taken place in recent weeks, supported by Belgium, the EU and Japan: the regional state laboratory in Mykolaiv province – badly affected by the destruction of the Kakhovka dam in mid-2023 – received a real-time PCR cycler (Polymerase Chain Reaction, a nuclear-derived technique) for fast and accurate analysis to help it fight the spread of disease as a result of the flooding; the medical unit of the Rivne Nuclear Power Plant received an ultrasound system; and a subsidiary of national nuclear operator Energoatom received a cryostat system ensuring continuity of services affected by power cuts and liquid nitrogen supply challenges.

    Director General Grossi said nuclear safety and security remains under threat in Ukraine.

    At the Zaporizhzhya Nuclear Power Plant (ZNPP), the IAEA team based at the site has continued to hear shelling, explosions, and gunfire almost every day.

    Earlier this month, the ZNPP informed the IAEA team that the site’s training centre was targeted in a drone strike on 13 July, resulting in damage to its roof. There were no reports of casualties. The team was not granted access to assess the damage to the training centre located outside the site perimeter, with the plant citing security concerns.

    In addition, the ZNPP’s off-site power situation continues to be extremely fragile, with the plant having had access to just one single power line for almost three months now, compared to ten before the conflict.

    The nearby city of Enerhodar – where most ZNPP staff live – suffered an electricity blackout on 17 July due to damage to its main power line, according to information provided to the IAEA team members.  They were also told that subsequent shelling had damaged some buildings in the city, which was also observed when the team visited Enerhodar on 19 July.

    A forest fire near Enerhodar that caused smoke which was observed by the IAEA team last weekend has been extinguished without any impact on nuclear safety, the plant said.  

    The IAEA team has continued to carry out walkdowns across the ZNPP site to monitor nuclear safety and security, observing the testing of three emergency diesel generators as well as visiting the containment and safety system rooms of two reactor units.

    They also discussed with the plant management different options for refilling the plant’s cooling pond following the loss of the Kakhovka dam two years ago and further planning on emergency preparedness and response, including preparations for a site exercise later this year.

    At Ukraine’s operating nuclear power plants (NPPs) – Khmelnytskyy, Rivne and South Ukraine – three of their total of nine units are currently in shutdown for refuelling and maintenance.

    The IAEA team based at these plants, and the Chornobyl site, reported hearing air raid alarms nearly every day over the past week.

    At the Khmelnytskyy and South Ukraine NPPs, the IAEA teams were informed that during the night of 18 July drones were detected a few kilometres away from the two sites. That same evening, the team at Chornobyl observed flashes of light and heard explosions in the distance.

    MIL Security OSI –

  • MIL-OSI Russia: Lightning: Thai military says nine civilians killed in clashes with Cambodia – media

    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

    Xinhua | 24.07.2025

    Keywords: Thailand-Cambodia

    Source: Xinhua

    Flash: Thai Armed Forces Say Nine Civilians Killed in Clashes with Cambodia — Media Flash: Thai Armed Forces Say Nine Civilians Killed in Clashes with Cambodia — Media

    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 Russia: Cambodian PM urges people to remain calm amid clashes on Thai border

    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

    PHNOM PENH, July 24 (Xinhua) — Cambodian Prime Minister Hun Manet on Thursday called on the people to remain calm and trust the government and military amid a clash on the border with Thailand.

    Khun Manet wrote on his official social media page that the Thai army launched an attack on Cambodian military positions in Oddar Meanchey province on Thursday morning, and then in Preah Vihear province.

    “Cambodia has always maintained the position that it wants to resolve problems peacefully, but in this case we have no choice but to respond with armed forces to armed aggression,” he said. –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 Economics: Secretary-General of ASEAN meets with Vice Minister of Culture and Tourism of China

    Source: ASEAN – Association of SouthEast Asian Nations

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today met with H.E. Gao Zheng, Vice Minister of Culture and Tourism of China in Beijing. Both sides exchanged views on strengthening cooperation in culture and tourism under the ASEAN-China Comprehensive Strategic Partnership. The meeting highlighted a shared vision for enhancing cultural exchanges and tourism synergy, paving the way for innovative collaborations that celebrate cultural heritage and enrich tourism experiences, while fostering sustainable growth across ASEAN and China.

    The post Secretary-General of ASEAN meets with Vice Minister of Culture and Tourism of China appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • India Celebrates Income Tax Day 2025: A tribute to digital transformation and taxpayer empowerment

    Source: Government of India

    Source: Government of India (4)

    India today commemorates Income Tax Day, marking the 165th anniversary of the introduction of income tax in the country. Celebrated every year on July 24, the day acknowledges the evolution of India’s tax system and its pivotal role in nation-building.

    Income tax was first introduced in India on this day in 1860 by British economist Sir James Wilson to counter the financial strain caused by the First War of Independence in 1857. The framework laid then eventually culminated in the Income Tax Act of 1922 and later the comprehensive Income Tax Act of 1961, which still governs the taxation system in the country today.

    In recent decades, India’s income tax system has undergone a profound digital transformation, shifting from manual record-keeping to a tech-enabled, citizen-friendly administration. The process began with the introduction of the Permanent Account Number (PAN) in 1972, followed by initial computerization in 1981. The current PAN series, introduced in 1995, enabled better tracking and compliance.

    A major technological leap came with the establishment of the Centralized Processing Centre (CPC) in Bengaluru in 2009, allowing for jurisdiction-free, digital processing of tax returns. The Tax Information Network (TIN), and its upgraded version TIN 2.0, further enhanced convenience, offering real-time tax credits and quicker refunds. The Demand Facilitation Centre in Mysuru now serves as a central repository for outstanding tax demands, easing access for both taxpayers and officials.

    The government’s focus on transparency and data-driven governance is also reflected in the use of Project Insight. This integrated data platform enables the Income Tax Department (ITD) to create a 360-degree financial profile of taxpayers by integrating data from various sources, such as GSTN, financial institutions, and property registries. These insights help in detecting discrepancies and prompting voluntary compliance through non-intrusive nudges.

    The Faceless Assessment Scheme, launched in 2019, has revolutionized tax assessments by removing physical interaction between the taxpayer and the tax officer. Taxpayers now receive automated notices, assessments, and communications through a digital platform, enhancing accountability and efficiency.

    Additionally, the Annual Information Statement (AIS), implemented in November 2021, provides individuals with a consolidated view of their financial activity across the year. It pre-fills income tax returns using verified third-party data, minimizing errors and promoting self-compliance. This, along with the e-Verification Scheme, allows discrepancies to be resolved entirely online.

    As part of a continued effort to simplify compliance and encourage voluntary participation, the Finance Act, 2025 has extended the deadline for filing updated income tax returns from 24 months to 48 months. This amendment gives taxpayers more time to correct errors and avoid penalties while ensuring fair contribution.

    Tax collection trends underline the success of these reforms. The total number of Income Tax Returns (ITRs) filed rose by 36% over the past five years, reaching 9.19 crore filings in FY 2024–25, compared to 6.72 crore in FY 2020–21. Gross Direct Tax Collections also saw a sharp rise—from ₹12.31 lakh crore in 2020–21 to ₹27.02 lakh crore in 2024–25, reflecting both economic resilience and improved compliance.

    The Union Budget 2025–26 introduced several relief measures to ease the tax burden on individuals. Under the new tax regime, income up to ₹12 lakh is now tax-free. With the standard deduction of ₹75,000, salaried individuals with income up to ₹12.75 lakh will have zero tax liability. These measures are expected to boost household spending, particularly among the middle class.

    Other notable changes include an increase in TDS and TCS thresholds, decriminalization of TCS payment delays, and full tax exemption for withdrawals from National Savings Scheme (NSS) accounts made after August 29, 2024. The time limit for registering small charitable trusts has also been extended, while taxpayers with two self-occupied properties can now claim exemptions for both without restrictions.

    Significantly, the Income Tax Bill, 2025 has been tabled to replace the Income Tax Act of 1961. While retaining the core principles, the new bill seeks to simplify the language of tax laws, remove redundant provisions, and improve clarity for taxpayers and professionals alike.

  • Russian plane crashes in Russia’s far east, nearly 50 people on board feared dead

    Source: Government of India

    Source: Government of India (4)

    An Antonov An-24 passenger plane carrying about 50 people crashed in Russia’s far east on Thursday and initial information suggested that everyone on board was killed, Russian emergency services officials said.

    The burning fuselage of the plane, which was from the Soviet era and was nearly 50 years old, was spotted on the ground by a helicopter and rescue crews were rushing to the scene.

    Unverified video, shot from a helicopter and posted on social media, appeared to show that the plane had come down in a densely forested area.

    The plane, whose tail number showed it was built in 1976, was operated by a Siberia-based airline called Angara.

    It was en route from the city of Blagoveshchensk to Tynda and dropped off radar screens while approaching Tynda, a remote town in the Amur region bordering China.

    There were 43 passengers, including five children, and six crew members on board according to preliminary data, Vasily Orlov, the regional governor said.

    The emergencies ministry put the number of people on board somewhat lower, at around 40.

    Debris from the plane was found on a hill around 15 km (10 miles) from Tynda, the Interfax news agency quoted emergency service officials as saying.

    “During the search operation, a Mi-8 helicopter belonging to Rossaviatsiya discovered the fuselage of the aircraft, which was on fire,” Yuliya Petina, an emergency services official, wrote on Telegram.

    “Rescuers continue to make their way to the scene of the accident”.

    Authorities announced an investigation into the crash.

    (Reuters)

  • Manufacturing drives India’s flash PMI to 60.7 in July, private sector shows robust growth

    Source: Government of India

    Source: Government of India (4)

    India’s private sector showed robust growth in July, fuelled by strong manufacturing and global demand, the HSBC Flash India Composite Purchasing Managers’ Index (PMI) showed on Thursday.

    The headline HSBC Flash India Composite PMI Output Index, compiled by S&P Global, rose to 60.7 in July from 58.4 in June.

    The Manufacturing PMI index climbed to 59.2 in July from 58.4 in June – its highest level in nearly 17-and-a-half years.

    The Services PMI was 59.8 in July, down from 60.4 in June. While services activity continued to grow, the pace of expansion softened, according to the note.

    “India’s flash composite PMI remained healthy in July at 60.7. The strong performance was bolstered by growth in total sales, export orders, and output levels. Indian manufacturers led the way, recording faster rates of expansion than services for all of the three aforementioned metrics,” said Pranjul Bhandari, chief India economist at HSBC.

    International orders received by private sector firms in India rose sharply at the start of the second fiscal quarter (Q2 FY26).

    “Meanwhile, inflationary pressures continue to heat up as both input costs and output charges rose in July. Finally, business confidence fell to its lowest mark since March 2023, while employment growth moderated,” Bhandari noted.

    The Indian companies remained optimistic about output growth over the next 12 months.

    There is a firm pick-up in employment, especially in the service sector, suggesting healthy job creation accompanies the expansion of both India’s manufacturing and service sectors, according to the note.

    While goods producers indicated the slowest increase in output for three months during May, service providers reported the fastest rise since March 2024.

    At the composite level, the latest upturn was the quickest in just over a year. Monitored companies attributed growth to buoyant demand, investment in technology and expanded capacities, said the HSBC survey.

    (IANS)

  • MIL-OSI Economics: ADB President Calls for Increased Innovation Investment at STS Forum

    Source: Asia Development Bank

    ADB President Masato Kanda urged increased investment in science, technology, and innovation to drive inclusive and sustainable growth in Southeast Asia during his keynote address at the 9th Science and Technology in Society (STS) Forum ASEAN–Japan Conference in Jakarta.

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN meets with Vice Minister of Foreign Affairs and SOM Leader for East Asian Cooperation of China

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today met with H.E. Sun Weidong, Vice Minister of Foreign Affairs and SOM Leader for East Asian Cooperation of China, in Beijing. The meeting served as an opportunity to exchange views on the ASEAN-China Comprehensive Strategic Partnership, and discussed ways to further enhance cooperation in various areas, including the preparations for the upcoming 28th ASEAN-China Summit in October 2025. Both sides also exchanged views on regional and international developments of common interest and concern.

    The post Secretary-General of ASEAN meets with Vice Minister of Foreign Affairs and SOM Leader for East Asian Cooperation of China appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • Supreme Court stays Bombay HC verdict acquitting 12 accused in 2006 Mumbai train blasts case

    Source: Government of India

    Source: Government of India (4)

    The Supreme Court of India on Thursday stayed a Bombay High Court judgment that acquitted 12 men convicted in the 2006 Mumbai train bombings, after the Maharashtra government argued that the ruling could undermine ongoing cases under the Maharashtra Control of Organised Crime Act (MCOCA).

    The court made it clear that its order would not affect the release of the 12 men, all of whom had already been freed following their acquittal.

    A bench of Justices M.M. Sundresh and N. Kotiswar Singh also issued notices to all 12 acquitted individuals and sought their responses to the state’s appeal.

    Solicitor General Tushar Mehta, representing the Maharashtra government, told the court that the state was not seeking to reverse the release of the accused but was concerned about the broader implications of the High Court’s findings. Accepting the argument, the bench said the Bombay High Court’s ruling would not carry precedential value until further orders.

    The High Court, in its judgment delivered on July 21, had overturned the 2015 convictions of the 12 men by a special MCOCA court. Five of the accused had been sentenced to death and the rest to life imprisonment. The court found that the prosecution had failed to establish the charges beyond reasonable doubt, describing the investigation as flawed and marred by procedural lapses.

    Additionally, the court found serious issues with the reliability of eyewitness accounts.

    On July 11, 2006, seven bombs exploded in packed Mumbai local trains, bringing the city to a standstill within 11 minutes.

    The coordinated terror attack left 189 dead and over 800 injured.

  • Parliament Monsoon Session: Lok Sabha adjourned till 2 pm amid sloganeering by Opposition

    Source: Government of India

    Source: Government of India (4)

    The fourth day of the Monsoon Session of Parliament saw continued disruption, with the Lok Sabha adjourned until 2 pm on Thursday following protests by Opposition members over the controversial Special Intensive Revision (SIR) of electoral rolls in Bihar.

    As the House convened at 11 am, Opposition MPs raised slogans and staged a noisy protest, demanding a debate on the Election Commission’s SIR initiative.

    Speaker Om Birla repeatedly appealed for order, but the protests continued, forcing him to suspend proceedings early.

    This marks the fourth consecutive day of disruptions in Parliament, with the Opposition pressing for discussions not only on the Bihar voter verification drive but also on the recent Pahalgam terror attack and Operation Sindoor.

    Before the adjournment, Birla urged Opposition members to maintain decorum, saying the conduct in the House was falling short of expectations.

    Earlier in the day, senior Congress leaders Sonia Gandhi and Priyanka Gandhi Vadra joined the protest at Makar Dwar. Priyanka was seen holding a placard that read, “Democracy in Danger.”

    Opposition leaders have alleged that the SIR exercise unfairly targets marginalised groups and migrant populations, calling it an attempt at “institutional voter cleansing.” Congress MP Manickam Tagore submitted an adjournment motion under Rule 56, describing the EC’s move as “unconstitutional” and an attack on the fundamental right to vote.

    Outside Parliament, AAP Rajya Sabha MP Sanjay Singh echoed these concerns, claiming that residents from Bihar and Purvanchal living in Delhi are being harassed and disenfranchised.

    On Wednesday, both Houses of Parliament had been adjourned multiple times before being suspended for the day.

    (With inputs from IANS)

  • Russia, Ukraine discuss more POW swaps; no deal on ceasefire or leaders’ meeting

    Source: Government of India

    Source: Government of India (4)

    Russia and Ukraine discussed further prisoner swaps on Wednesday at a brief session of peace talks in Istanbul, but the sides remained far apart on ceasefire terms and a possible meeting of their leaders.

    “We have progress on the humanitarian track, with no progress on a cessation of hostilities,” Ukraine’s chief delegate Rustem Umerov said after talks that lasted just 40 minutes.

    He said Ukraine had proposed a meeting before the end of August between Ukraine’s President Volodymyr Zelenskiy and Russian President Vladimir Putin. He added: “By agreeing to this proposal, Russia can clearly demonstrate its constructive approach.”

    Russia’s chief delegate Vladimir Medinsky said the point of a leaders’ meeting should be to sign an agreement, not to “discuss everything from scratch”.

    He renewed Moscow’s call for a series of short ceasefires of 24-48 hours to enable the retrieval of bodies. Ukraine says it wants an immediate and much longer ceasefire.

    The talks took place just over a week after U.S. President Donald Trump threatened heavy new sanctions on Russia and countries that buy its exports unless a peace deal was reached within 50 days.

    There was no sign of any progress towards that goal, although both sides said there was discussion of further humanitarian exchanges following a series of prisoner swaps, the latest of which took place on Wednesday.

    Medinsky said the negotiators agreed to exchange at least 1,200 more prisoners of war from each side, and Russia had offered to hand over another 3,000 Ukrainian bodies.

    He said Moscow was working through a list of 339 names of Ukrainian children that Kyiv accuses it of abducting. Russia denies that charge and says it has offered protection to children separated from their parents during the war.

    “Some of the children have already been returned back to Ukraine. Work is under way on the rest. If their legal parents, close relatives, representatives are found, these children will immediately return home,” Medinsky said.

    Umerov said Kyiv was expecting “further progress” on POWs, adding: “We continue to insist on the release of civilians, including children.” Ukrainian authorities say at least 19,000 children have been forcibly deported.

    SHORTEST TALKS YET

    Before the talks, the Kremlin had played down expectations, describing the two sides’ positions as diametrically opposed and saying no one should expect miracles.

    At 40 minutes, the meeting was even shorter than the two sides’ previous encounters on May 16 and June 2, which lasted a combined total of under three hours.

    Oleksandr Bevz, a member of the Ukrainian delegation, said Kyiv had proposed a Putin-Zelenskiy meeting in August because that would fall within the deadline set by Trump for a deal.

    Putin turned down a previous challenge from Zelenskiy to meet in person and has said he does not see him as a legitimate leader because Ukraine, which is under martial law, did not hold new elections when Zelenskiy’s five-year mandate expired last year.

    Trump has patched up relations with Zelenskiy after a public row with him at the White House in February, and has lately expressed growing frustration with Putin.

    Three sources close to the Kremlin told Reuters last week that Putin, unfazed by Trump’s ultimatum, would keep fighting in Ukraine until the West engaged on his terms for peace, and that his territorial demands may widen as Russian forces advance.

    (Reuters)

  • MIL-OSI: BE Semiconductor Industries N.V. Announces Q2-25 Results

    Source: GlobeNewswire (MIL-OSI)

    Q2-25 Revenue and Net Income of € 148.1 Million and € 32.1 Million, Respectively

    H1-25 Revenue and Net Income of € 292.2 Million and € 63.6 Million, Respectively

    DUIVEN, the Netherlands, July 24, 2025 (GLOBE NEWSWIRE) — BE Semiconductor Industries N.V. (the “Company” or “Besi”) (Euronext Amsterdam: BESI; OTC markets: BESIY), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the second quarter and first half year ended June 30, 2025.

    Key Highlights Q2-25

    • Revenue of € 148.1 million grew 2.8% vs. Q1-25 and was within prior guidance due primarily to higher die attach shipments for mainstream computing applications. Revenue decreased 2.1% vs. Q2-24 principally due to weakness in mobile end markets partially offset by growth in hybrid bonding shipments
    • Orders of € 128.0 million decreased 3.0% vs. Q1-25 due primarily due to ongoing weakness in mainstream computing and mobile applications partially offset by significant new orders for TCB Next systems. Orders declined 30.9% vs. Q2-24 due primarily to lower orders for hybrid bonding and mobile applications
    • Gross margin of 63.3% decreased by 0.3 points vs. Q1-25 and by 1.7 points vs. Q2-24 due to a less favorable product mix and adverse forex effects from a decline in the USD versus the euro
    • Net income of € 32.1 million increased 1.9% vs. Q1-25. Versus Q2-24, net income decreased 23.4% due principally to lower revenue and gross margins, increased R&D spending and higher interest expense related to the Senior Note offering in July 2024. Q2-25 net margin decreased to 21.6% vs. 21.9% in Q1-25 and 27.7% in Q2-24
    • Cash and deposits of € 490.2 million at June 30, 2025 increased by 90.6% vs. June 30, 2024 due to the Senior Note offering in July 2024

    Key Highlights H1-25

    • Revenue of € 292.2 million decreased 1.8% vs. H1-24 principally due to ongoing weakness in mainstream assembly markets, particularly for mobile and automotive applications, partially offset by increased shipments of hybrid bonding systems
    • Orders of € 259.9 million were down 17.0% vs. H1-24 primarily due to lower bookings for hybrid bonding systems and for mobile applications, partially offset by increased die attach orders by Asian subcontractors for AI related computing applications and new orders for Besi’s TCB Next system
    • Gross margin of 63.4% decreased by 2.7 points versus H1-24 primarily due to a less favorable product mix and adverse forex effects
    • Net income of € 63.6 million decreased € 12.3 million, or 16.2%, vs. H1-24 primarily due to lower revenue and gross margin and higher interest expense. Similarly, Besi’s net margin decreased to 21.7% versus 25.5% in H1-24

    Q3-25 Outlook  

    • Revenue is expected to decline 5-15% vs. the € 148.1 million reported in Q2-25
    • Orders are expected to increase significantly vs. Q2-25 primarily due to increased demand for hybrid bonding systems and die attach systems for AI-related 2.5D computing applications
    • Gross margin is expected to range between 60-62% and decrease vs. the 63.3% realized in Q2-25 primarily due to adverse forex effects from a significantly lower USD versus the euro
    • Operating expenses are expected to be flat +/- 5% vs. € 50.2 million in Q2-25
    (€ millions, except EPS) Q2-
    2025    		 Q1-
    2025    		 Δ Q2-
    2024    		  
    Δ    		 HY1-
    2025    		 HY1-
    2024    		 Δ
    Revenue 148.1 144.1 +2.8% 151.2 -2.1% 292.2 297.5 -1.8%
    Orders 128.0 131.9 -3.0% 185.2 -30.9% 259.9 313.0 -17.0%
    Gross Margin 63.3% 63.6% -0.3 65.0% -1.7 63.4% 66.1% -2.7
    Operating Income 43.5 39.3 +10.7% 49.3 -11.8% 82.8 90.0 -8.0%
    Net Income 32.1 31.5 +1.9% 41.9 -23.4% 63.6 75.9 -16.2%
    Net Margin 21.6% 21.9% -0.3 27.7% -6.1 21.7% 25.5% -3.8
    EPS (basic) 0.40 0.40 – 0.53 -24.5% 0.80 0.97 -17.5%
    EPS (diluted) 0.40 0.40 – 0.53 -24.5% 0.80 0.97 -17.5%
    Net Cash and Deposits -36.0* 159.4 -122.6% 74.4* -148.4% -36.0* 74.4* -148.4%

    * Reflects cash dividend payments of € 172.8 million and € 171.5 million in Q2-25 and Q2-24, respectively.

    Richard W. Blickman, President and Chief Executive Officer of Besi, commented:
    “Besi reported Q2-25 revenue, operating income and net income of € 148.1 million, € 43.5 million and € 32.1 million, respectively. Revenue and operating results were at the midpoint of prior guidance in a mainstream assembly equipment market still affected by soft demand for mobile and automotive applications. Market development in Q2-25 was also affected by increased customer caution due to global trade tensions. Q2-25 revenue and operating income grew sequentially by 2.8% and 10.7%, respectively, as we saw an increase in shipments to Asian subcontractors for AI-related datacenter applications combined with a 4.3% decrease in sequential operating expenses. Orders for the quarter decreased 3.0% versus Q1-25 as weakness in mainstream computing and mobile applications was partially offset by new orders for Besi’s TCB Next system.

    For the first half year, revenue of € 292.2 million decreased 1.8% versus H1-24 reflecting broader assembly market trends as weakness in mobile and, to a lesser extent, automotive end markets was significantly offset by growth in hybrid bonding revenue which more than doubled versus H1-24. Orders decreased by 17.0% due to the timing of customer orders for hybrid bonding systems and a lack of new product introductions in high-end smartphones. H1-25 operating and net income decreased by 8.0% and 16.2%, respectively, versus H1-24 primarily due to lower revenue and a 2.7-point reduction in gross margin from a less favorable product mix, adverse net forex effects from the decline of the USD versus the euro and increased interest expense related to Besi’s Senior Note issuance in July 2024. Liquidity remained strong with cash and deposits of € 490.2 million at June 30, 2025 increasing by 90.6% vs. June 30, 2024 due to the Senior Note offering in July 2024.

    We believe the outlook for Besi’s business in H2-25 has improved in recent weeks based on customer feedback and order trends subsequent to quarter end. Expanded capex budgets for AI infrastructure have been confirmed by each of the leading industry players in recent quarters with new use cases emerging in cloud and edge computing along with co-packaged optics. Advanced packaging is one of the key ways to achieve AI system differentiation, develop innovative consumer edge AI devices and provide the most energy-efficient data center performance. Advanced packaging demand for AI applications remains strong given new device introductions expected in 2026-2028. We believe we are well positioned in the fastest-growing advanced packaging market segments including data centers, photonics, AI-enhanced PCs and mobile devices and EVs/autonomous driving.

    As such, orders for our hybrid bonding systems are expected to increase significantly in H2-25 versus both H1-25 and H2-24 in both advanced logic and HBM4 memory applications as customers advance their technology roadmaps for new product introductions in 2026 and 2027. Customer interest in our TCB Next system for both memory and logic applications has also expanded significantly. TCB Next cycle times have improved with shipments anticipated in Q4-25 from orders received in Q2-25. We also anticipate increased orders for 2.5D advanced packaging systems for AI-related datacenter applications from both global IDMs and Asian subcontractors. In addition, there are early signs of a recovery in our mainstream assembly markets principally related to increased demand by Asian subcontractors for high-end mobile applications and high-performance computing applications for consumer markets.

    For Q3-25, we anticipate that revenue will decline by approximately 5-15% versus Q2-25. However, orders for Q3-25 are expected to increase significantly on a sequential basis due to increased demand for hybrid bonding and 2.5D advanced packaging applications. Besi’s gross margin is anticipated to decline to a range of 60-62% in Q3-25 due to the adverse impact of a 12.8% decline in the value of the USD versus the euro in the first half of 2025. Operating expenses in Q3-25 are expected to be flat plus or minus 5% versus Q2-25 despite increased R&D spending.”

    Share Repurchase Activity
    During the quarter, Besi spent € 20.7 million to repurchase approximately 196,000 of its ordinary shares at an average price of € 105.80 per share. As of June 30, 2025, € 72.2 million of the current € 100 million share repurchase authorization has been used to repurchase approximately 644,000 ordinary shares at an average price of € 111.96 per share. As of June 30, 2025, Besi held approximately 2.0 million shares in treasury, equivalent to 2.5% of shares outstanding.

    Investor and media conference call
    A conference call and webcast for investors and media will be held today at 4:00 pm CET (10:00 am EDT). To register for the conference call and/or to access the audio webcast and webinar slides, please visit www.besi.com.

    Important Dates
    • Publication Q3/Nine-month results
    • Publication Q4/Full year results

    October 23, 2025
    February 2026

    Basis of Presentation
    The accompanying Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the European Union. Reference is made to the Summary of Significant Accounting Policies to the Notes to the Consolidated Financial Statements as included in our 2024 Annual Report, which is available on www.besi.com.

    Contacts:
    Richard W. Blickman, President & CEO
    Andrea Kopp-Battaglia, Senior Vice President Finance
    Claudia Vissers, Executive Secretary/IR coordinator
    Edmond Franco, VP Corporate Development/US IR coordinator
    Michael Sullivan, Investor Relations
    Tel. (31) 26 319 4500
    investor.relations@besi.com

    About Besi
    Besi is a leading manufacturer of assembly equipment supplying a broad portfolio of advanced packaging solutions to the semiconductor and electronics industries. We offer customers high levels of accuracy, reliability and throughput at a lower cost of ownership with a principal focus on wafer level and substrate assembly solutions. Customers are primarily leading semiconductor manufacturers, foundries, assembly subcontractors and electronics and industrial companies. Besi’s ordinary shares are listed on Euronext Amsterdam (symbol: BESI). Its Level 1 ADRs are listed on the OTC markets (symbol: BESIY) and its headquarters are located in Duiven, the Netherlands. For more information, please visit our website at www.besi.com.

    Caution Concerning Forward-Looking Statements
    This press release contains statements about management’s future expectations, plans and prospects of our business that constitute forward-looking statements, which are found in various places throughout the press release, including, but not limited to, statements relating to expectations of orders, net sales, product shipments, expenses, timing of purchases of assembly equipment by customers, gross margins, operating results and capital expenditures. The use of words such as “anticipate”, “estimate”, “expect”, “can”, “intend”, “believes”, “may”, “plan”, “predict”, “project”, “forecast”, “will”, “would”, and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The financial guidance set forth under the heading “Outlook” contains such forward-looking statements. While these forward-looking statements represent our judgments and expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from those contained in forward-looking statements, including any inability to maintain continued demand for our products; failure of anticipated orders to materialize or postponement or cancellation of orders, generally without charges; the volatility in the demand for semiconductors and our products and services; the extent and duration of the COVID-19 and other global pandemics and the associated adverse impacts on the global economy, financial markets, global supply chains and our operations as well as those of our customers and suppliers; failure to develop new and enhanced products and introduce them at competitive price levels; failure to adequately decrease costs and expenses as revenues decline; loss of significant customers, including through industry consolidation or the emergence of industry alliances; lengthening of the sales cycle; acts of terrorism and violence; disruption or failure of our information technology systems; consolidation activity and industry alliances in the semiconductor industry that may result in further increased customer concentration, inability to forecast demand and inventory levels for our products; the integrity of product pricing and protection of our intellectual property in foreign jurisdictions; risks, such as changes in trade regulations, conflict minerals regulations, currency fluctuations, political instability and war, associated with substantial foreign customers, suppliers and foreign manufacturing operations, particularly to the extent occurring in the Asia Pacific region where we have a substantial portion of our production facilities; potential instability in foreign capital markets; the risk of failure to successfully manage our diverse operations; any inability to attract and retain skilled personnel, including as a result of restrictions on immigration, travel or the availability of visas for skilled technology workers.

    In addition, the United States and other countries have recently levied tariffs and taxes on certain goods and could significantly increase or impose new tariffs on a broad array of goods. They have imposed, and may continue to impose, new trade restrictions and export regulations. Increased or new tariffs and additional taxes, including any retaliatory measures, trade restrictions and export regulations, could negatively impact end-user demand and customer investment in semiconductor equipment, increase Besi’s supply chain complexity and manufacturing costs, decrease margins, reduce the competitiveness of our products or restrict our ability to sell products, provide services or purchase necessary equipment and supplies. Any or all of the foregoing factor could have a material and adverse effect on our business, results of operations or financial condition. In addition, investors should consider those additional risk factors set forth in Besi’s annual report for the year ended December 31, 2024 and other key factors that could adversely affect our businesses and financial performance contained in our filings and reports, including our statutory consolidated statements. We expressly disclaim any obligation to update or alter our forward-looking statements whether as a result of new information, future events or otherwise.

    Consolidated Statements of Operations
         
    (€ thousands, except share and per share data) Three Months Ended
    June 30,
    (unaudited)    		 Six Months Ended
    June 30,
    (unaudited)
      2025 2024 2025 2024
             
    Revenue 148,101 151,176 292,246 297,490
    Cost of sales 54,410 52,908 106,833 100,951
             
    Gross profit 93,691 98,268 185,413 196,539
             
    Selling, general and administrative expenses 30,629 30,514 63,587 70,155
    Research and development expenses 19,571 18,503 39,073 36,422
             
    Total operating expenses 50,200 49,017 102,660 106,577
             
    Operating income 43,491 49,251 82,753 89,962
             
    Financial expense, net 5,693 1,045 8,652 1,634
             
    Income before taxes 37,798 48,206 74,101 88,328
             
    Income tax expense 5,748 6,261 10,545 12,404
             
    Net income 32,050 41,945 63,556 75,924
             
    Net income per share – basic 0.40 0.53 0.80 0.97
    Net income per share – diluted 0.40 0.53 0.80 0.97
    Number of shares used in computing per share amounts:
    – basic
    – diluted 1

    79,184,703
    81,288,679

    79,281,533
    81,941,471

    79,206,267
    81,405,308

    78,231,430
    82,023,808

    ______________________
    1) The calculation of diluted income per share assumes the exercise of equity settled share based payments and the conversion of all Convertible Notes outstanding

    Consolidated Balance Sheets
     
    (€ thousands) June
    30, 2025
    (unaudited)    		 March
    31, 2025
    (unaudited)    		 December
    31, 2024
    (audited)
    ASSETS      
           
    Cash and cash equivalents 330,170 405,736 342,319
    Deposits 160,000 280,000 330,000
    Trade receivables 178,615 170,440 181,862
    Inventories 96,977 103,836 103,285
    Other current assets 53,821 46,099 40,927
           
    Total current assets 819,583 1,006,111 998,393
           
    Property, plant and equipment 51,089 42,868 44,773
    Right of use assets 13,799 15,161 15,726
    Goodwill 44,857 45,610 46,010
    Other intangible assets 103,933 98,622 96,677
    Investment property 5,206 – –
    Deferred tax assets 27,494 29,240 31,567
    Other non-current assets 1,303 1,347 1,330
           
    Total non-current assets 247,681 232,848 236,083
           
    Total assets 1,067,264 1,238,959 1,234,476
           
           
    Bank overdraft –   840 776
    Current portion of long-term debt –   – 2,042
    Trade payables 47,458 46,598 52,630
    Other current liabilities 95,530 111,170 111,531
           
    Total current liabilities 142,988 158,608 166,979
           
    Long-term debt 526,184 525,493 525,653
    Lease liabilities 10,873 11,770 12,350
    Deferred tax liabilities 10,523 10,416 10,320
    Other non-current liabilities 19,915 19,328 17,910
           
    Total non-current liabilities 567,495 567,007 566,233
           
    Total equity 356,781 513,344 501,264
           
    Total liabilities and equity 1,067,264 1,238,959 1,234,476
    Consolidated Cash Flow Statements
         
    (€ thousands)
    		 Three Months Ended
    June 30,
    (unaudited)    		 Six Months Ended
    June 30,
    (unaudited)
      2025 2024 2025 2024
             
    Cash flows from operating activities:        
             
    Income before income tax 37,798 48,206 74,101 88,328
             
    Depreciation and amortization 7,458 6,980 14,765 13,793
    Share based payment expense 4,342 6,916 8,783 23,816
    Financial expense, net 5,694 1,045 8,653 1,634
             
    Changes in working capital (11,032) (46,694) (13,145) (49,945)
    Interest (paid) received 3,726 3,893 839 5,062
    Income tax paid (21,988) (15,428) (23,563) (17,517)
             
    Net cash provided by operating activities 25,998 4,918 70,433 65,171
             
    Cash flows from investing activities:        
    Capital expenditures (11,764) (3,216) (13,497) (8,866)
    Capitalized development expenses (7,320) (4,912) (14,057) (9,575)
    Acquisition of investment property (5,206) – (5,206) –
    Repayments of (investments in) deposits 120,000 85,000 170,000 95,000
             
    Net cash provided by (used in) investing activities 95,710 76,872 137,240 76,559
             
    Cash flows from financing activities:        
    Proceeds from (payments of) bank lines of credit (840) – (776) –
    Proceeds from (payments of) debt (2,042) – (2,042) –
    Payments of lease liabilities (1,111) (1,063) (2,225) (2,106)
    Purchase of treasury shares (20,721) (14,810) (42,785) (29,589)
    Dividends paid to shareholders (172,811) (171,534) (172,811) (171,534)
             
    Net cash used in financing activities (197,525) (187,407) (220,639) (203,229)
             
    Net increase (decrease) in cash and cash equivalents (75,817) (105,617) (12,966) (61,499)
    Effect of changes in exchange rates on cash and
      cash equivalents    		 251 798 817 256
    Cash and cash equivalents at beginning of the
       period    		 405,736 232,053 342,319 188,477
             
    Cash and cash equivalents at end of the period 330,170 127,234 330,170 127,234
    Supplemental Information (unaudited)
    (€ millions, unless stated otherwise)
                             
    REVENUE Q2-2025 Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                             
    Per geography:                        
    China 37.5   25%   40.5   28%   42.8   28%   45.5   29%   57.5   38%   58.5   40%  
    Asia Pacific (excl. China) 66.1   45%   56.3   39%   53.5   35%   51.6   33%   54.1   36%   43.6   30%  
    EU / USA / Other 44.5   30%   47.3   33%   57.1   37%   59.5   38%   39.6   26%   44.2   30%  
                             
    Total 148.1   100%   144.1   100%   153.4   100%   156.6   100%   151.2   100%   146.3   100%  
                             
    ORDERS Q2-2025 Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                             
    Per geography:                        
    China 44.4   35%   39.7   30%   40.4   33%   45.4   30%   43.3   23%   51.1   40%  
    Asia Pacific (excl. China) 60.7   47%   51.7   39%   38.8   32%   69.3   46%   72.0   39%   45.0   35%  
    EU / USA / Other 22.9   18%   40.5   31%   42.7   35%   37.1   24%   69.9   38%   31.6   25%  
                             
    Total 128.0   100%   131.9   100%   121.9   100%   151.8   100%   185.2   100%   127.7   100%  
                             
    Per customer type:                        
    IDM 71.9   56%   48.1   36%   61.2   50%   84.5   56%   122.4   66%   53.5   42%  
    Foundries/Subcontractors 56.1   44%   83.8   64%   60.7   50%   67.3   44%   62.8   34%   74.2   58%  
                             
    Total 128.0   100%   131.9   100%   121.9   100%   151.8   100%   185.2   100%   127.7   100%  
                             
    HEADCOUNT June 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024
                             
    Fixed staff (FTE) 1,831   88%   1,820   88%   1,812   93%   1,807   87%   1,783   86%   1,760   88%  
    Temporary staff (FTE) 239   12%   251   12%   134   7%   271   13%   279   14%   236   12%  
                             
    Total 2,070   100%   2,071   100%   1,946   100%   2,078   100%   2,062   100%   1,996   100%  
                             
    OTHER FINANCIAL DATA Q2-2025 Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                             
    Gross profit 93.7   63.3%   91.7   63.6%   98.2   64.0%   101.2   64.7%   98.3   65.0%   98.3   67.2%  
                             
                             
    Selling, general and admin expenses:                        
    As reported 30.6   20.7%   33.0   22.9%   28.6   18.6%   27.3   17.4%   30.5   20.2%   39.6   27.1%  
    Share-based compensation expense (4.3 )  -2.9%   (4.4 )  -3.1%   (2.9 )  -1.8%   (3.4 ) -2.1%   (6.9 ) -4.6%   (16.9 ) -11.6%  
                             
    SG&A expenses as adjusted 26.3   17.8%   28.6   19.8%   25.7   16.8%   23.9   15.3%   23.6   15.6%   22.7   15.5%  
                             
                             
    Research and development expenses:                        
    As reported 19.6   13.2%   19.5   13.5%   19.0   12.4%   18.9   12.1%   18.5   12.2%   17.9   12.2%  
    Capitalization of R&D charges 7.3   4.9%   6.7   4.6%   5.4   3.5%   4.4   2.8%   4.9   3.2%   4.7   3.2%  
    Amortization of intangibles (3.9 ) -2.6%   (3.7 ) -2.5%   (3.9 ) -2.5%   (3.9 ) -2.5%   (3.6 ) -2.3%   (3.6 ) -2.4%  
                             
    R&D expenses as adjusted 23.0   15.5%   22.5   15.6%   20.5   13.4%   19.4   12.4%   19.8   13.1%   19.0   13.0%  
                             
                             
    Financial expense (income), net:                        
    Interest income (3.4 )   (5.0 )   (5.1 )   (5.2 )   (3.0 )   (4.0 )  
    Interest expense 6.4     6.3     6.1     5.7     2.1     2.8    
    Net cost of hedging 2.3     1.8     2.0     1.9     1.4     1.6    
    Foreign exchange effects, net 0.4     (0.1 )   0.9     (0.8 )   0.5     0.2    
                             
    Total 5.7     3.0     3.9     1.6     1.0     0.6    
                             
                             
    Operating income (as % of net sales) 43.5   29.4%   39.3   27.2%   50.6   33.0%   55.1   35.2%   49.3   32.6%   40.7   27.8%  
                             
    EBITDA (as % of net sales) 50.9   34.4%   46.6   32.3%   58.0   37.8%   62.4   39.8%   56.2   37.2%   47.5   32.5%  
                             
    Net income (as % of net sales) 32.1   21.6%   31.5   21.9%   59.3   38.6%   46.8   29.9%   41.9   27.7%   34.0   23.2%  
                             
    Effective tax rate 15.2%     13.2%     -27.0%     12.6%     13.0%     15.3%    
                             
                             
    Income per share                        
    Basic 0.40     0.40     0.75     0.59     0.53     0.44    
    Diluted 0.40     0.40     0.74     0.59     0.53     0.44    
                             
    Average shares outstanding (basic) 79,184,703 79,228,071 79,402,192 79,630,787 79,281,533 77,181,326
                             
    Shares repurchased                        
    Amount 20.7     22.1     22.4     27.8     14.8     14.8    
    Number of shares 195,647 186,869  198,450  230,807  105,042  101,049 
                             
                             
    Gross cash 490.2     685.7     672.3     637.4     257.2     447.1    
                             
    Net cash (36.0 )   159.4     143.8     110.7     74.4     180.9    
                             

    The MIL Network –

  • MIL-Evening Report: Israel waging ‘horror show’ starvation campaign in Gaza, says UN chief

    This is Democracy Now!. I’m Amy Goodman.

    More than 100 humanitarian groups are demanding action to end Israel’s siege of Gaza, warning mass starvation is spreading across the Palestinian territory.

    The NGOs, including Amnesty International, Oxfam, Doctors Without Borders, warn, “illnesses like acute watery diarrhea are spreading, markets are empty, waste is piling up, and adults are collapsing on the streets from hunger and dehydration.”

    Their warning came as the Palestinian Ministry of Health said the number of starvation-related deaths has climbed to at least 111 people.

    This is Ghada al-Fayoumi, a displaced Palestinian mother of seven in Gaza City.

    GHADA AL-FAYOUMI: “[translated] My children wake up sick every day. What do I do? I get saline solution for them. What can I do?

    “There’s no food, no bread, no drinks, no rice, no sugar, no cooking oil, no bulgur, nothing. There is no kind of any food available to us at all.”

    AMY GOODMAN: Thousands of antiwar protesters marched on Tuesday in Tel Aviv outside Israel’s military headquarters, demanding an end to Israel’s assault and a lifting of the Gaza siege. This is Israeli peace activist Alon-Lee Green with the group Standing Together.

    ALON-LEE GREEN: “We are marching now in Tel Aviv, holding bags of flour and the pictures of these children that have been starved to death by our government and our army.

    “We demand to stop the starvation in Gaza. We demand to stop the annihilation of Gaza. We demand to stop the daily killing of children and innocent people in Gaza.

    “This cannot go on. We are Israelis, and this does not serve us. This only serves the Messianic people that lead us.”

    AMY GOODMAN: This comes as the World Health Organisation has released a video showing the Israeli military attacking WHO facilities in central Gaza’s Deir al-Balah. A WHO spokesperson condemned the attack, called for the immediate release of a staff member abducted by Israeli forces.

    TARIK JAŠAREVIĆ: “Male staff and family members were handcuffed, stripped, interrogated on the spot and screened at gunpoint.

    “Two WHO staff and two family members were detained.”

    AMY GOODMAN: Meanwhile, health officials in Gaza say Israeli attacks over the past day killed more than 70 people, including five more people seeking food at militarised aid sites. Amid growing outrage worldwide, UN Secretary-General António Guterres said on Tuesday the situation in Gaza right now is a “horror show”.

    UN SECRETARY-GENERAL ANTÓNIO GUTERRES: “We need look no further than the horror show in Gaza, with a level of death and destruction without parallel in recent times.

    “Malnourishment is soaring. Starvation is knocking on every door.”

    AMY GOODMAN: For more, we’re joined by Michael Fakhri, the UN Special Rapporteur on the Right to Food. He is a professor of law at University of Oregon, where he leads the Food Resiliency Project.


    Israel waging ‘fastest starvation campaign’ in modern history    Video: Democracy Now!

    Dr Michael Fakhri, welcome back to Democracy Now! If you can respond to what’s happening right now, the images of dying infants starving to death, the numbers now at over 100, people dropping in the streets, reporters saying they can’t go on?

    Agence France-Presse’s union talked about they have had reporters killed in conflict, they have had reporters disappeared, injured, but they have not had this situation before with their reporters starving to death.

    DR MICHAEL FAKHRI: Amy, the word “horror” — I mean, we’re running out of words of what to say. And the reason it’s horrific is it was preventable. We saw this coming. We’ve seen this coming for 20 months.

    Israel announced its starvation campaign back in October 2023. And then again, Prime Minister Netanyahu announced on March 1 that nothing was to enter Gaza. And that’s what happened for 78 days. No food, no water, no fuel, no medicine entered Gaza.

    And then they built these militarised aid sites that are used to humiliate, weaken and kill the Palestinians. So, what makes this horrific is it has been preventable, it was predictable. And again, this is the fastest famine we’ve seen, the fastest starvation campaign we’ve seen in modern history.

    AMY GOODMAN: So, can you talk about what needs to be done at this point and the responsibility of the occupying power? Israel is occupying Gaza right now. What it means to have to protect the population it occupies?

    DR FAKHRI: The International Court of Justice outlined Israel’s duties in its decisions over the last year. So, what Israel has an obligation to do is, first, end its illegal occupation immediately. This came from the court itself.

    Second, it must allow humanitarian relief to enter with no restrictions. And this hasn’t been happening. So, usually, we would turn to the Security Council to authorise peacekeepers or something similar to assist.

    But predictably, again, the United States keeps vetoing anything to do with a ceasefire. When the Security Council is in a deadlock because of a veto, the General Assembly, the UN General Assembly, has the authority to call for peacekeepers to accompany humanitarian convoys to enter into Gaza and to end Israel’s starvation campaign against the Palestinian people.

    AMY GOODMAN: People actually protested outside the house of UN Secretary-General António Guterres yesterday. People protested all over the world yesterday against the Palestinians being starved and bombed to death. Those in front of the UN Secretary-General’s house said they don’t dispute that he has raised this issue almost every day, but they say he can do more.

    Finally, Michael Fakhri, what does the UN need to do — the US, Israel, the world?

    DR FAKHRI: So, as I mentioned, first and foremost, they can authorise peacekeepers to enter to stop the starvation. But, second, they need to create consequences.

    The world has a duty to prevent this starvation. The world has a duty to prevent and end this genocide. And as a result, then, what the world can do is impose sanctions.

    And again, this is supported by the International Court of Justice. The world needs to impose wide-scale sanctions against the state of Israel to force it to end the starvation and genocide of civilians, of Palestinian civilians in Gaza today.

    AMY GOODMAN: Well, I want to thank you so much for being with us, Michael Fakhri, UN Special Rapporteur on the Right to Food, speaking to us from Eugene, Oregon.

    Article by AsiaPacificReport.nz

    MIL OSI Analysis – EveningReport.nz –

  • EU’s von der Leyen says China ties are at ‘inflection point’ at tense summit

    Source: Government of India

    Source: Government of India (4)

    European Commission President Ursula von der Leyen called for an “essential” rebalancing of trade ties with China during a tense summit on Thursday with President Xi Jinping, saying ties stood at an “inflection point”, according to a pool report.

    Expectations were low for the summit marking 50 years of diplomatic ties after weeks of escalating tension and wrangling over its format, with the duration abruptly halved to a single day at Beijing’s request.

    Von der Leyen and European Council President Antonio Costa met Xi at the start of an event set to be dominated by thorny issues ranging from trade frictions to the Ukraine war.

    “As our cooperation has deepened, so have imbalances. We have reached an inflection point,” von der Leyen told Xi during the meeting in the Great Hall of the People.

    She was referring to the EU’s trade deficit with China, which ballooned to a historic 305.8 billion euros ($360 billion) last year.

    “Rebalancing of our bilateral relation is essential … It is vital for China and Europe to acknowledge our respective concerns and come forward with real solutions.”

    However, Xi urged the EU to “make correct strategic choices” during the meeting, state broadcaster CCTV said, in a veiled criticism of Brussels’ hawkish stance on China.

    “The more severe and complex the international situation, the more China and the EU must strengthen communication, enhance mutual trust and deepen cooperation,” Xi told von der Leyen and Costa, it said.

    “Chinese and European leaders should … make correct strategic choices that meet the expectations of the people.”

    The weeks before the summit were dominated by tit-for-tat trade disputes and hawkish European rhetoric, such as a July 8 accusation by von der Leyen that China was flooding global markets as a result of its overcapacity and “enabling Russia’s war economy”.

    Shortly before the summit, however, von der Leyen struck a more conciliatory tone, describing it as an opportunity to “both advance and rebalance our relationship” in a post on X on Thursday.

    “I’m convinced there can be a mutually beneficial cooperation,” von der Leyen added.

    The two EU officials are set to meet Chinese Premier Li Qiang later. Both sides are hoping to reach a modest joint statement on climate, currently one of the only bright spots in EU-China cooperation.

    State news agency Xinhua also appeared to downplay Beijing’s rivalry with the 27-member bloc, saying China was a “critical partner” for Europe, with a range of shared interests.

    “China is a critical partner to Europe, not a systemic rival,” it said in a commentary.

    The two shared interests in trade, climate, and global governance, it said, adding, “These areas of common ground should not be eclipsed by isolated points of friction.”

    The EU defines China as a “partner, competitor and systemic rival”, which frames its strategic approach to China policy.

    At the summit, European leaders are also expected to raise topics such as electric vehicles and Chinese industrial overcapacity.

    China launched rare earth export controls in April that disrupted supply chains worldwide, leading to temporary stoppages in European automotive production lines the following month.

    But its exports of rare earth magnets to the EU surged in June by 245% from May, to stand at 1,364 metric tons, though that was still 35% lower than the year-earlier figure, customs data showed.

    The EU is likely to seal a trade deal with the United States for a broad tariff of 15% on its exports after intense negotiations, avoiding a harsher 30% figure threatened by President Donald Trump.

    (Reuters)

  • Israeli strike kills hungry Gaza family in their sleep

    Source: Government of India

    Source: Government of India (4)

    The Al-Shaer family went to bed hungry at their home in Gaza City. An Israeli airstrike killed them in their sleep.

    The family – freelance journalist Wala al-Jaabari, her husband and their five children – were among more than 100 people killed in 24 hours of Israeli strikes or gunfire, according to health officials.

    Their corpses lay in white shrouds outside their bombed home on Wednesday with their names scribbled in pen. Blood seeped through the shrouds as they lay there, staining them red.

    “This is my cousin. He was 10. We dug them out of the rubble,” Amr al-Shaer, holding one of the bodies after retrieving it.

    Iman al-Shaer, another relative who lives nearby, said the family hadn’t eaten anything before the bombs came down. “The children slept without food,” he said.

    The Israeli military did not immediately comment on the strike at the family’s home, but said its air force had struck 120 targets throughout Gaza in the past day, including “terrorist cells, military structures, tunnels, booby-trapped structures, and additional terrorist infrastructure sites”.

    Relatives said some neighbours were spared only because they had been out searching for food at the time of the strike.

    Ten more Palestinians died overnight from starvation, the Gaza health ministry said, bringing the total number of people who have starved to death to 111, most of them in recent weeks as a wave of hunger crashes on the Palestinian enclave.

    The World Health Organization said on Wednesday 21 children under the age of five were among those who died of malnutrition so far this year. It said it had been unable to deliver any food for nearly 80 days between March and May and that a resumption of food deliveries was still far below what is needed.

    In a statement on Wednesday, 111 organisations, including Mercy Corps, the Norwegian Refugee Council and Refugees International, said mass starvation was spreading even as tons of food, clean water and medical supplies sit untouched just outside Gaza, where aid groups are blocked from accessing them.

    Israel, which cut off all supplies to Gaza from the start of March and reopened it with new restrictions in May, says it is committed to allowing in aid but must control it to prevent it from being diverted by militants. It says it has let enough food into Gaza during the war and blames Hamas for the suffering of Gaza’s 2.2 million people.

    Israel has also accused the United Nations of failing to act in a timely fashion, saying 700 truckloads of aid are idling inside Gaza. “It is time for them to pick it up and stop blaming Israel for the bottlenecks which are occurring,” Israeli government spokesman David Mercer said on Wednesday.

    The United Nations and aid groups trying to deliver food to Gaza say Israel, which controls everything that comes in and out, is choking delivery, and Israeli troops have shot hundreds of Palestinians dead close to aid collection points since May.

    “We have a minimum set of requirements to be able to operate inside Gaza,” Ross Smith, the director of emergencies at the U.N. World Food Programme, told Reuters. “One of the most important things I want to emphasize is that we need to have no armed actors near our distribution points, near our convoys.”

    Israel’s U.N. Ambassador Danny Danon told the Security Council on Wednesday that Israel will now grant only one-month visas to international staff from the United Nations Office for the Coordination of Humanitarian Affairs.

    FALTERING PEACE TALKS

    The war between Israel and Hamas has been raging for nearly two years since Hamas killed some 1,200 Israelis and took 251 hostages from southern Israel in the deadliest attack in Israel’s history.

    Israel has since killed nearly 60,000 Palestinians in Gaza, decimated Hamas as a military force, reduced most of the territory to ruins and forced nearly the entire population to flee their homes multiple times.

    U.S. Middle East peace envoy Steve Witkoff is expected to hold new ceasefire talks, travelling to Europe this week for meetings on the Gaza war and a range of other issues, a U.S. official said on Tuesday.

    A Palestinian official close to the Gaza ceasefire talks and the mediation efforts told Reuters on Wednesday that Hamas had handed its response on the ceasefire proposal to mediators, declining to elaborate further.

    Talks on a proposal for a 60-day ceasefire between Israel and Hamas, which would include the release of more of the 50 hostages still being held in Gaza, are being mediated by Qatar and Egypt with Washington’s backing.

    Successive rounds of negotiations have achieved no breakthrough since the collapse of a ceasefire in March.

    Israel’s President Isaac Herzog told soldiers during a visit to Gaza on Wednesday that “intensive negotiations” about returning the hostages held there were underway and he hoped that they would soon “hear good news”, according to a statement.

    A senior Palestinian official earlier told Reuters Hamas might give mediators a response to the latest proposals in Doha later on Wednesday, on the condition that amendments be made to two major sticking points: details on an Israeli military withdrawal, and on how to distribute aid during a truce.

    Israeli Prime Minister Benjamin Netanyahu’s cabinet includes far-right parties that oppose any agreement that ends without the total destruction of Hamas.

    “The second I spot weakness in the prime minister and if I come to think, heaven forbid, that this is about to end with us surrendering instead of with Hamas’s absolute surrender, I won’t remain (in the government) for even a single day,” Finance Minister Belalel Smotrich told Army Radio.

    (Reuters)

  • Thailand F-16 jet deployed against Cambodian forces as border clash escalates

    Source: Government of India

    Source: Government of India (4)

    A Thai F-16 fighter jet bombed targets in Cambodia on Thursday, both sides said, as weeks of tension over a border dispute escalated into clashes that have killed at least two civilians.

    Of the six F-16 fighter jets that Thailand readied to deploy along the disputed border, one of the aircraft fired into Cambodia and destroyed a military target, the Thai army said. Both countries accused each other of starting the clash early on Thursday.

    “We have used air power against military targets as planned,” Thai army deputy spokesperson Richa Suksuwanon told reporters. Thailand also closed its border with Cambodia.

    Cambodia’s defence ministry said the jets dropped two bombs on a road, and that it “strongly condemns the reckless and brutal military aggression of the Kingdom of Thailand against the sovereignty and territorial integrity of Cambodia”.

    The skirmishes came after Thailand recalled its ambassador to Cambodia late on Wednesday and said it would expel Cambodia’s envoy in Bangkok, after a second Thai soldier in the space of a week lost a limb to a landmine that Bangkok alleged had been laid recently in the disputed area.

    Thai residents in the Surin border province fled to shelters built of concrete and fortified with sandbags and car tires as the two countries exchanged fire.

    “How many rounds have been fired? It’s countless,” an unidentified woman told the Thai Public Broadcasting Service (TPBS) while hiding in the shelter with gunfire and explosions heard intermittently in the background.

    For more than a century, Thailand and Cambodia have contested sovereignty at various undemarcated points along their 817 km (508 miles) land border, which has led to skirmishes over several years and at least a dozen deaths, including during a weeklong exchange of artillery in 2011.

    Tensions were reignited in May following the killing of a Cambodian soldier during a brief exchange of gunfire, which escalated into a full-blown diplomatic crisis and now has triggered armed clashes.

    LANDMINES

    The clashes began early on Thursday near the disputed Ta Moan Thom temple along the eastern border between Cambodia and Thailand, around 360 km from the Thai capital Bangkok.

    “Artillery shell fell on people’s homes,” Sutthirot Charoenthanasak, district chief of Kabcheing in Surin province, told Reuters, describing the firing by the Cambodian side.

    “Two people have died,” he said, adding that district authorities had evacuated 40,000 civilians from 86 villages near the border to safer locations.

    Thailand’s military said Cambodia deployed a surveillance drone before sending troops with heavy weapons to an area near the temple.

    Cambodian troops opened fire and two Thai soldiers were wounded, a Thai army spokesperson said, adding Cambodia had used multiple weapons, including rocket launchers.

    A spokesperson for Cambodia’s defence ministry, however, said there had been an unprovoked incursion by Thai troops and Cambodian forces had responded in self-defence.

    Thailand’s acting Prime Minister Phumtham Wechayachai said the situation was delicate.

    “We have to be careful,” he told reporters. “We will follow international law.”

    An attempt by Thai premier Paetongtarn Shinawatra to resolve the recent tensions via a call with Cambodia’s influential former Prime Minister Hun Sen, the contents of which were leaked, kicked off a political storm in Thailand, leading to her suspension by a court.

    Hun Sen said in a Facebook post that two Cambodian provinces had come under shelling from the Thai military.

    Thailand this week accused Cambodia of placing landmines in a disputed area that injured three soldiers. Phnom Penh denied the claim and said the soldiers had veered off agreed routes and triggered a mine left behind from decades of war.

    Cambodia has many landmines left over from its civil war decades ago, numbering in the millions according to de-mining groups.

    But Thailand maintains landmines have been placed at the border area recently, which Cambodia has described as baseless allegations.

    (Reuters) 

  • MIL-OSI China: Hugo Ekitike: Liverpool sign Frankfurt striker

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

    Premier League champion Liverpool continued a big-spending summer with the signing of striker Hugo Ekitike from Eintracht Frankfurt for an initial fee of 79 million pounds (106 million US dollars).

    “We have reached an agreement for the transfer of Eintracht Frankfurt forward Hugo Ekitike, subject to international clearance,” announced Liverpool’s social media sites on Wednesday.

    Hugo Ekitike (R) of Eintracht Frankfurt vies with Cristian Romero of Tottenham Hotspur during the UEFA Europa League quarterfinals 2nd leg match in Frankfurt, Germany, April 17, 2025. (Photo by Ulrich Hufnagel/Xinhua)

    “The 23-year-old has successfully completed a medical and agreed personal terms with the Reds, allowing him to fly out to Hong Kong to join his new teammates on their preseason tour of Asia later this week,” the club added.

    Ekitike is the fourth major signing of the summer for Arne Slot’s side, following the capture of Florian Wirtz for over 110 million pounds and defenders Milos Kerkez and Jeremie Frimpong.

    The 23-year-old Frenchman, who can play across the front line, joins Anfield after scoring 22 goals in 48 appearances last season, along with more than a dozen assists.

    Liverpool has spent over 250 million pounds this summer, although they are likely to recoup some of that if Luis Diaz completes a move to Bayern Munich in a deal worth more than 60 million pounds. Darwin Nunez also appears likely to leave, and Federico Chiesa has been left out of Liverpool’s preseason squad for the Asia tour, suggesting he may also be on his way out. 

    MIL OSI China News –

  • MIL-OSI China: Barcelona confirm Marcus Rashford loan signing

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

    FC Barcelona confirmed the loan signing of England international forward Marcus Rashford from Manchester United on Wednesday with a video in which the player said the news was “official.”

    Rashford joins the La Liga and Copa del Rey champion on an initial one-season loan, with Barcelona having the option to make the move permanent for around 35 million euros. However, there is also a clause that means the club has to pay compensation if it opts against this.

    Manchester United’s Marcus Rashford (L) breaks through during the FA Cup quarterfinal match between Manchester United and Liverpool in Manchester, Britain, on March 17, 2024. (Xinhua)

    “What the club stands for means a lot for me. I feel like I am at home and a big factor in my choice to come here because it is a family place and a good place for good players to showcase their skills,” said Rashford at his presentation.

    “To be here is everything I wished and thought. I’m eager to get going and keep learning the Barcelona way as I go and be ready for the games,” he continued, adding that the chance to work with Barca coach Hansi Flick was another key reason for his decision.

    “What he did last season was terrific. In his career he’s proved he’s one of the top coaches, to lead such a young team to a very successful season,” commented the forward.

    The 27-year-old, who passed his medical tests in Barcelona on Monday, is rumored to have taken a 15 percent pay cut in order to complete the move after falling out of favor with United coach Ruben Amorim last season and spending the second half of the campaign on loan at Aston Villa.

    He will now form part of the squad that travels to Asia on Thursday to play matches in both South Korea and Japan.

    Rashford’s signing at Barcelona comes after the club suffered an embarrassing failure to sign Spain international Nico Williams from Athletic Bilbao for the second consecutive summer, with Williams opting to sign a new contract with Athletic.

    Meanwhile, efforts to bring in Colombian winger Luis Diaz were frustrated by Barca’s economic situation, which made it impossible for the club to get close to Liverpool’s demands.

    Rashford becomes the first English player to join FC Barcelona since Gary Lineker was at the club between 1986-1989 and only the second Englishman to play for them in over 100 years, with Harold Stamper the last previous Englishman after a season at Barcelona between 1922 and 1923.

    MIL OSI China News –

  • MIL-OSI China: Poland edge China to reach Women’s VNL semifinals

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

    Host Poland battled past China in a thrilling five-set quarterfinal, winning 17-25, 25-20, 19-25, 25-19, 15-12 in the FIVB Women’s Volleyball Nations League (VNL) on Wednesday evening in Lodz to secure a spot in the semifinals.

    Opposite hitter Magdalena Stysiak led the Polish side with 25 points, including 22 kills and three blocks. Outside hitter Martyna Czyrnianska added 16 points. For China, outside hitter Wu Mengjie delivered an impressive performance with a match-high 25 points, while Zhuang Yushan added 20.

    Coming off a 3-1 victory over China in a friendly on Saturday, Poland entered the match as slight favorites. However, it was China who came out strong in the opening set, fueled by Wu’s sharp attacks. She scored 10 points in the set, helping China establish a 19-14 lead before closing it out 25-17.

    China continued their momentum early in the second set, taking a 5-2 advantage after a spike from Chen Houyu. But Poland rallied back, drawing level at 14-14 thanks to a powerful attack from Martyna Lukasik. Momentum shifted in favor of the hosts as Czyrnianska registered a key block and Stysiak added timely offense to push Poland ahead. Lukasik sealed the set with back-to-back spikes, giving Poland a 25-20 win.

    In the third set, China capitalized on a string of unforced errors from Poland to race ahead 13-5. Maintaining their advantage throughout, China regained the lead in sets with a 25-19 win.

    The fourth set saw Poland respond with renewed energy. Paulina Damaske’s spike and service ace helped the home team build an 18-12 cushion. Although China fought back to narrow the gap to 21-19, Poland surged with four straight points to take the set 25-19, forcing a decider.

    In the tiebreak, Poland met the expectations of their home crowd at Atlas Arena. A block from Stysiak and another strong finish from Damaske gave them a 7-4 lead. Though China closed the deficit to 10-9 after a Stysiak error, Damaske delivered a key solo block to make it 13-10 and later sealed the match with a powerful spike, clinching the final set 15-12.

    “It was a tough challenge. We struggled during the match, so we’re very happy with the victory,” said Polish setter Alicja Grabka in a post-match interview with Polsat TV. “We overcame a difficult situation as we were behind. For me, playing in that kind of match was a dream come true. I’m very proud I could help the team.”

    Earlier in the day, Italy advanced to the semifinals after sweeping the United States 3-0 (25-22, 25-21, 28-26). Opposite spiker Paola Egonu starred with a match-high 20 points, while Avery Skinner led the Americans with 11.

    The remaining quarterfinal matchups will take place on Thursday, with Japan facing Turkiye and Brazil taking on Germany.

    MIL OSI China News –

  • Microsoft says some SharePoint server hackers now using ransomware

    Source: Government of India

    Source: Government of India (4)

    A cyber-espionage campaign centered on vulnerable versions of Microsoft‘s server software now involves the deployment of ransomware, Microsoft said in a late Wednesday blog post.

    In the post, citing “expanded analysis and threat intelligence,” Microsoft said a group it dubs “Storm-2603” is using the vulnerability to seed the ransomware, which typically works by paralyzing victims’ networks until a digital currency payment is made.

    The disclosure marks a potential escalation in the campaign, which has already hit at least 400 victims, according to Netherlands-based cybersecurity firm Eye Security. Unlike typical state-backed hacker campaigns, which are aimed at stealing data, ransomware can cause widespread disruption depending on where it lands.

    The figure of 400 victims represents a sharp rise from the 100 organizations cataloged over the weekend. Eye Security says the figure is likely an undercount.

    “There are many more, because not all attack vectors have left artifacts that we could scan for,” said Vaisha Bernard, the chief hacker for Eye Security, which was among the first organizations to flag the breaches.

    The details of most of the victim organizations have not yet been fully disclosed, but on Wednesday a representative for the National Institutes of Health confirmed that one of the organization’s servers had been compromised.

    “Additional servers were isolated as a precaution,” he said. The news of the compromise was first reported by the Washington Post.

    Other outlets said the hacking campaign had breached an even broader range of U.S. agencies. NextGov, citing multiple people familiar with the matter, reported the Department of Homeland Security had been hit, along with more than five to 12 other agencies.

    Politico, which cited two U.S. officials, said multiple agencies were believed to have been breached.

    DHS’ cyberdefense arm, CISA, did not immediately return a message seeking comment on the reports. Microsoft did not immediately return a message seeking further details on the ransomware angle of the hacking or the reported government victims.

    The spy campaign began after Microsoft failed to fully patch a security hole in its SharePoint server software, kicking off a scramble to fix the vulnerability when it was discovered.

    Microsoft and its tech rival, Google-owner Alphabet, have both said Chinese hackers are among those taking advantage of the flaw. Beijing has denied the claim.

    -Reuters

  • U’khand panchayat polls: 1st phase of voting begins, CM Dhami to cast vote in Khatima

    Source: Government of India

    Source: Government of India (4)

    Uttarakhand Chief Minister Pushkar Singh Dhami on Thursday arrived in Khatima to cast his vote as the first phase of the three-tier panchayat elections commenced across the state.

    He reached Khatima via helicopter and landed at the helipad of Saraf Public School. After this, he headed to the Nagla Tarai Primary School polling booth to exercise his right to vote.

    The voting, being held in two phases across 12 districts — excluding Haridwar — is set to decide thousands of local representatives.

    According to the notification issued by the Uttarakhand State Election Commission, a total of 2,247 candidates are in the fray for 948 member Gram Panchayat seats, while 9,731 candidates are contesting for 3,393 Pradhan Gram Panchayat posts.

    Additionally, 4,980 candidates are contesting for 1,507 Area Panchayat member positions and 871 for 201 District Panchayat member posts.

    An estimated 26 lakh voters were eligible to cast their votes in this first phase. Despite persistent monsoon showers, voters turned up in large numbers, forming long queues outside polling booths in various parts of the state.

    A total of 1,240 polling personnel were deployed to ensure the smooth conduct of elections, while tight security arrangements were put in place to maintain law and order throughout the process.

    Earlier in the day, CM Dhami took to X to appeal to voters, saying, “Today, the first phase of voting for the three-tier panchayat elections is taking place. I appeal to all the divine people of the state to reach the polling stations in large numbers and exercise their voting rights.”

    “With your vote, choose capable, aware, and dedicated representatives who will strongly raise your voice and strengthen the foundation of rural development. Your single vote is an important step towards a robust Panchayati Raj system,” he added.

    The second phase of voting is scheduled for July 28, and counting of votes will take place on July 31.

    (IANS)

  • U’khand panchayat polls: 1st phase of voting begins, CM Dhami to cast vote in Khatima

    Source: Government of India

    Source: Government of India (4)

    Uttarakhand Chief Minister Pushkar Singh Dhami on Thursday arrived in Khatima to cast his vote as the first phase of the three-tier panchayat elections commenced across the state.

    He reached Khatima via helicopter and landed at the helipad of Saraf Public School. After this, he headed to the Nagla Tarai Primary School polling booth to exercise his right to vote.

    The voting, being held in two phases across 12 districts — excluding Haridwar — is set to decide thousands of local representatives.

    According to the notification issued by the Uttarakhand State Election Commission, a total of 2,247 candidates are in the fray for 948 member Gram Panchayat seats, while 9,731 candidates are contesting for 3,393 Pradhan Gram Panchayat posts.

    Additionally, 4,980 candidates are contesting for 1,507 Area Panchayat member positions and 871 for 201 District Panchayat member posts.

    An estimated 26 lakh voters were eligible to cast their votes in this first phase. Despite persistent monsoon showers, voters turned up in large numbers, forming long queues outside polling booths in various parts of the state.

    A total of 1,240 polling personnel were deployed to ensure the smooth conduct of elections, while tight security arrangements were put in place to maintain law and order throughout the process.

    Earlier in the day, CM Dhami took to X to appeal to voters, saying, “Today, the first phase of voting for the three-tier panchayat elections is taking place. I appeal to all the divine people of the state to reach the polling stations in large numbers and exercise their voting rights.”

    “With your vote, choose capable, aware, and dedicated representatives who will strongly raise your voice and strengthen the foundation of rural development. Your single vote is an important step towards a robust Panchayati Raj system,” he added.

    The second phase of voting is scheduled for July 28, and counting of votes will take place on July 31.

    (IANS)

  • Markets open flat; IT, midcap stocks under pressure amid mixed global cues

    Source: Government of India

    Source: Government of India (4)

    The Indian stock market opened flat on Thursday as IT companies came under selling pressure amid mixed global cues.

    At 9:28 a.m., the Sensex slipped 110 points or 0.13 per cent to 82,615, and the Nifty declined 13 points or 0.05 per cent to 25,206.

    Sectorally, the Nifty IT index underperformed with a loss of 1.17 per cent. All other sectors showed marginal dips or moderate gains. Bank stocks registered moderate losses of up to 0.20 per cent.

    Midcap and smallcap stocks also faced selling pressure. The Nifty Midcap 100 index was down 0.39 per cent at 59,148, while the Nifty Smallcap 100 index declined 0.07 per cent to 18,879.

    In the Nifty pack, Dr. Reddy’s Laboratories led the gainers with a 3.07 per cent rise, followed by Tata Motors at 1.51 per cent. Tata Consumer Products, Eicher Motors, JSW Steel, and Tata Steel were also among the top gainers. Trent, Kotak Mahindra Bank, and Bajaj Finance were among the early losers.

    “Market sentiment remains cautiously optimistic amid heightened volatility and mixed global cues. Nifty 50’s rebound highlights buyer strength at lower levels. A sustained move above 25,250 could potentially open the path toward the 25,330 mark. On the downside, immediate support is placed at 25,125, followed by 25,000,” said Hardik Matalia of Choice Equity Broking Private Limited.

    The Bank Nifty outperformed the broader index, rising 454 points and forming a bullish candlestick, indicating renewed buying interest, he added.

    Both Asian and U.S. indices posted strong overnight gains, lending a positive backdrop for Indian markets at the open.

    In the U.S., the Dow Jones Industrial Average advanced 1.14 per cent, the Nasdaq rose 0.61 per cent, and the S&P 500 added 0.78 per cent.

    According to analysts, the U.S. striking trade deals with various countries is gradually easing concerns over tariff wars. Strong corporate earnings in the U.S. are also providing fundamental support to the market.

    In Asian markets, the Nikkei 225 continued its strong rally for the second consecutive day, gaining 1.97 per cent, while Indonesia’s Jakarta Composite climbed 1.70 per cent. Hong Kong, Shanghai, and Seoul were also trading in the green.

    On July 23, foreign institutional investors (FIIs) were net sellers for the fifth consecutive session, offloading stocks worth Rs 4,209 crore. In contrast, domestic institutional investors (DIIs) remained strong buyers for the 12th straight day, purchasing shares worth Rs 4,358 crore.

    IANS

  • Markets open flat; IT, midcap stocks under pressure amid mixed global cues

    Source: Government of India

    Source: Government of India (4)

    The Indian stock market opened flat on Thursday as IT companies came under selling pressure amid mixed global cues.

    At 9:28 a.m., the Sensex slipped 110 points or 0.13 per cent to 82,615, and the Nifty declined 13 points or 0.05 per cent to 25,206.

    Sectorally, the Nifty IT index underperformed with a loss of 1.17 per cent. All other sectors showed marginal dips or moderate gains. Bank stocks registered moderate losses of up to 0.20 per cent.

    Midcap and smallcap stocks also faced selling pressure. The Nifty Midcap 100 index was down 0.39 per cent at 59,148, while the Nifty Smallcap 100 index declined 0.07 per cent to 18,879.

    In the Nifty pack, Dr. Reddy’s Laboratories led the gainers with a 3.07 per cent rise, followed by Tata Motors at 1.51 per cent. Tata Consumer Products, Eicher Motors, JSW Steel, and Tata Steel were also among the top gainers. Trent, Kotak Mahindra Bank, and Bajaj Finance were among the early losers.

    “Market sentiment remains cautiously optimistic amid heightened volatility and mixed global cues. Nifty 50’s rebound highlights buyer strength at lower levels. A sustained move above 25,250 could potentially open the path toward the 25,330 mark. On the downside, immediate support is placed at 25,125, followed by 25,000,” said Hardik Matalia of Choice Equity Broking Private Limited.

    The Bank Nifty outperformed the broader index, rising 454 points and forming a bullish candlestick, indicating renewed buying interest, he added.

    Both Asian and U.S. indices posted strong overnight gains, lending a positive backdrop for Indian markets at the open.

    In the U.S., the Dow Jones Industrial Average advanced 1.14 per cent, the Nasdaq rose 0.61 per cent, and the S&P 500 added 0.78 per cent.

    According to analysts, the U.S. striking trade deals with various countries is gradually easing concerns over tariff wars. Strong corporate earnings in the U.S. are also providing fundamental support to the market.

    In Asian markets, the Nikkei 225 continued its strong rally for the second consecutive day, gaining 1.97 per cent, while Indonesia’s Jakarta Composite climbed 1.70 per cent. Hong Kong, Shanghai, and Seoul were also trading in the green.

    On July 23, foreign institutional investors (FIIs) were net sellers for the fifth consecutive session, offloading stocks worth Rs 4,209 crore. In contrast, domestic institutional investors (DIIs) remained strong buyers for the 12th straight day, purchasing shares worth Rs 4,358 crore.

    IANS

  • UAE Central Bank mandates phase-out of SMS and email OTP authentication by March 2026

    Source: Government of India

    Source: Government of India (4)

    The Central Bank of the United Arab Emirates (CBUAE) has issued a directive requiring all financial institutions to eliminate SMS and email-based one-time password (OTP) authentication for customer transactions by March 31, 2026. This move, aimed at bolstering digital banking security, will affect banks, finance companies, exchange houses, insurers, and payment service providers across the UAE, marking a significant shift toward more secure, risk-based authentication technologies.

    Traditional OTP methods, delivered via SMS or email, are increasingly vulnerable to phishing, SIM swapping, and SS7 protocol exploits. To counter these threats, the CBUAE is mandating the adoption of advanced authentication methods, such as Emirates Face Recognition, biometric verification, and mobile-based soft tokens.

    Starting July 25, 2025, UAE banks will begin transitioning customers to app-based authentication for all domestic and international financial transactions. Leading institutions like Emirates NBD, ADIB, and FAB have already adopted biometric and in-app solutions for most online banking activities. Customers will need to enable app-based verification features to authorize transactions, replacing the reliance on SMS or email OTPs. The CBUAE has set a phased implementation, with full compliance required by March 2026.

    The UAE’s move aligns with global trends, as countries like Singapore and Malaysia phase out SMS-based OTPs due to similar security concerns. The Monetary Authority of Singapore, for instance, mandated a similar shift in 2024, citing rising phishing scams. The CBUAE’s directive is part of its broader Financial Infrastructure Transformation (FIT) Programme, which includes initiatives like the planned launch of a retail central bank digital currency (CBDC), the digital dirham, in late 2025.

  • MIL-OSI: Tanate Phutrakul to step down as CFO at 2026 AGM

    Source: GlobeNewswire (MIL-OSI)

    Tanate Phutrakul to step down as CFO at 2026 AGM

    ING announced today that Tanate Phutrakul will step down from his position as CFO and member of the Executive Board of ING. Tanate will leave ING as of the Annual General Meeting in April 2026, after 24 years at ING of which seven on the Executive Board. 

    Karl Guha, chairman of ING’s Supervisory Board said: “It has been a privilege to work with Tanate. I have come to know him as a man of good grace, integrity, and high standards. He has been instrumental in helping steer ING to a better place of strong performance and delivering on our promises. We are fortunate to still have him on our executive team until the AGM and wish him every success in the next phase of his life.”

    Steven van Rijswijk, CEO of ING said: “I want to thank Tanate for his many years serving ING. While it is never easy to see a colleague leave, after seven years as CFO on the board it is a logical moment for Tanate to step down. With his deeply professional and pleasant approach, he has played a pivotal role in guiding ING through a turbulent period for the bank, the sector and the world. He has done so with his trademark calmness and has been an invaluable part of our executive team. His contributions in making ING the strong and financially sound bank it is today, which enables our current growth strategy, can hardly be overestimated. We look forward to continue to work with Tanate in the coming months.”

    Tanate Phutrakul said: “It has been and still is a pleasure to serve as a board member of ING, having helped shape the bank into what it is. It has been a wonderful journey. Many thanks for the kind support of Steven and my fellow board members and especially to the many ING colleagues I have worked with over the years.”

    Tanate joined ING in 1998 as managing director of ING Barings Securities Thailand. From 2003 until 2008 he served as head of Wholesale Banking and chief financial officer of TMB Bank in Thailand. In successive years he served as CFO of ING’s Operations and IT unit, ING Retail Banking International and ING Belgium. In 2019, he was appointed to the Executive Board as CFO of ING Group. 

    The search for a successor has been initiated and announcements will be made in due course. 

    Note for editors
    For further information on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom. Photos of ING operations, buildings and its executives are available for download at Flickr.

    ING PROFILE
    ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank’s more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries.

    ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).

    ING aims to put sustainability at the heart of what we do. Our policies and actions are assessed by independent research and ratings providers, which give updates on them annually. ING’s ESG rating by MSCI was reconfirmed by MSCI as ‘AA’ in August 2024 for the fifth year. As of June 2025, in Sustainalytics’ view, ING’s management of ESG material risk is ‘Strong’ with an ESG risk rating of 18.0 (low risk). ING Group shares are also included in major sustainability and ESG index products of leading providers. Here are some examples: Euronext, STOXX, Morningstar and FTSE Russell. Society is transitioning to a low-carbon economy. So are our clients, and so is ING. We finance a lot of sustainable activities, but we still finance more that’s not. Follow our progress on ing.com/climate.

    IMPORTANT LEGAL INFORMATION
    Elements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/2014 (‘Market Abuse Regulation’).

    ING Group’s annual accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (‘IFRS- EU’). In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2024 ING Group consolidated annual accounts. All figures in this document are unaudited. Small differences are possible in the tables due to rounding.

    Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions and customer behaviour, in particular economic conditions in ING’s core markets, including changes affecting currency exchange rates and the regional and global economic impact of the invasion of Russia into Ukraine and related international response measures (2) changes affecting interest rate levels (3) any default of a major market participant and related market disruption (4) changes in performance of financial markets, including in Europe and developing markets (5) fiscal uncertainty in Europe and the United States (6) discontinuation of or changes in ‘benchmark’ indices (7) inflation and deflation in our principal markets (8) changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness (9) failures of banks falling under the scope of state compensation schemes (10) non-compliance with or changes in laws and regulations, including those concerning financial services, financial economic crimes and tax laws, and the interpretation and application thereof (11) geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, including in connection with the invasion of Russia into Ukraine and the related international response measures (12) legal and regulatory risks in certain countries with less developed legal and regulatory frameworks (13) prudential supervision and regulations, including in relation to stress tests and regulatory restrictions on dividends and distributions (also among members of the group) (14) ING’s ability to meet minimum capital and other prudential regulatory requirements (15) changes in regulation of US commodities and derivatives businesses of ING and its customers (16) application of bank recovery and resolution regimes, including write down and conversion powers in relation to our securities (17) outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers or stakeholders who feel misled or treated unfairly, and other conduct issues (18) changes in tax laws and regulations and risks of non-compliance or investigation in connection with tax laws, including FATCA (19) operational and IT risks, such as system disruptions or failures, breaches of security, cyber-attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business and including any risks as a result of incomplete, inaccurate, or otherwise flawed outputs from the algorithms and data sets utilized in artificial intelligence (20) risks and challenges related to cybercrime including the effects of cyberattacks and changes in legislation and regulation related to cybersecurity and data privacy, including such risks and challenges as a consequence of the use of emerging technologies, such as advanced forms of artificial intelligence and quantum computing (21) changes in general competitive factors, including ability to increase or maintain market share (22) inability to protect our intellectual property and infringement claims by third parties (23) inability of counterparties to meet financial obligations or ability to enforce rights against such counterparties (24) changes in credit ratings (25) business, operational, regulatory, reputation, transition and other risks and challenges in connection with climate change, diversity, equity and inclusion and other ESG-related matters, including data gathering and reporting and also including managing the conflicting laws and requirements of governments, regulators and authorities with respect to these topics (26) inability to attract and retain key personnel (27) future liabilities under defined benefit retirement plans (28) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines (29) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations, and (30) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING’s more recent disclosures, including press releases, which are available on www.ING.com.

    This document may contain ESG-related material that has been prepared by ING on the basis of publicly available information, internally developed data and other third-party sources believed to be reliable. ING has not sought to independently verify information obtained from public and third-party sources and makes no representations or warranties as to accuracy, completeness, reasonableness or reliability of such information.

    Materiality, as used in the context of ESG, is distinct from, and should not be confused with, such term as defined in the Market Abuse Regulation or as defined for Securities and Exchange Commission (‘SEC’) reporting purposes. Any issues identified as material for purposes of ESG in this document are therefore not necessarily material as defined in the Market Abuse Regulation or for SEC reporting purposes. In addition, there is currently no single, globally recognized set of accepted definitions in assessing whether activities are “green” or “sustainable.” Without limiting any of the statements contained herein, we make no representation or warranty as to whether any of our securities constitutes a green or sustainable security or conforms to present or future investor expectations or objectives for green or sustainable investing. For information on characteristics of a security, use of proceeds, a description of applicable project(s) and/or any other relevant information, please reference the offering documents for such security.

    This document may contain inactive textual addresses to internet websites operated by us and third parties. Reference to such websites is made for information purposes only, and information found at such websites is not incorporated by reference into this document. ING does not make any representation or warranty with respect to the accuracy or completeness of, or take any responsibility for, any information found at any websites operated by third parties. ING specifically disclaims any liability with respect to any information found at websites operated by third parties. ING cannot guarantee that websites operated by third parties remain available following the publication of this document, or that any information found at such websites will not change following the filing of this document. Many of those factors are beyond ING’s control.

    Any forward-looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.

    This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States or any other jurisdiction.

    Attachment

    The MIL Network –

  • MIL-OSI: Australian Life Sciences Venture Capital firm Brandon Capital announces Fund Six final close totalling over A$439m

    Source: GlobeNewswire (MIL-OSI)

    MELBOURNE, Australia, July 24, 2025 (GLOBE NEWSWIRE) — Brandon Capital, Australasia’s leading life sciences venture capital firm, today announced the final close of its sixth fund at A$439 million.

    Joining existing investors Hesta, Host Plus, CSL and QIC are the WA Government and Australia’s sovereign investor in manufacturing capability, the National Reconstruction Fund Corporation (NRFC).

    This final close of Brandon BioCatalyst Fund Six (BB6) will see Brandon Capital continue to invest in emerging biomedical technologies with strong commercial potential, translating these exciting discoveries into high-growth firms that positively impact human health.

    To date, Brandon Capital has raised over A$1 billion across previous funds with notable Fund Six investments to date including AdvanCell (radiopharma), PolyActiva (glaucoma implant), Myricx Bio (ADC) and CatalYm (oncology).

    Dr Chris Nave, Co-Founder and Managing Partner at Brandon Capital, “We’re excited to welcome the National Reconstruction Fund Corporation to our sixth fund, joining HESTA, Hostplus, CSL, QIC and the WA Government. Closing at $439 million, BB6 is our largest fund to date, and we remain committed to advancing breakthrough biomedical innovations through our unwavering scientific rigour and disciplined capital allocation, in pursuit of exceeding our investors’ expectations.”

    The firm has a track record of advancing its portfolio companies to commercialisation. Recent Brandon Capital portfolio company announcements include FDA approvals for a hypertension therapy from George Medicines and a left ventricular cardiac resynchronisation device developed by EBR Systems, with Q-Sera’s blood collection tubes that produce high-quality serum faster and more reliably, recently approved in Japan.

    Brandon Capital has an active portfolio of over 30 companies with 17 in clinical trials, four advancing or in-market, a promising preclinical pipeline and several actively contributing to Australia’s high-skilled manufacturing sector growth.

    Collectively supporting over 270 high-skilled Australian jobs are: surgical imaging innovator, OncoRes Medical, which has developed the first ‘real-time’ in cavity probe to improve cancer surgery outcomes; late-stage biotech PolyActiva, which is developing a long-term treatment for glaucoma, the second leading cause of blindness; needle-free patch for vaccine delivery Vaxxas, and radiopharmaceutical company AdvanCell, which is developing novel therapies for the treatment of a range of cancers.

    NRFC CEO David Gall said, “Medical science has long development timelines, and it is important for the NRFC to make early and considered investments in the sector to attract the talent and capital that we will need to build our local commercialisation capabilities. If we want medical science jobs and industries to exist in Australia in ten years, we need to invest in them today.”

    Brandon Capital, headquartered in Australia with offices in the UK and US, has established a transcontinental presence that strengthens collaboration across regions. Australian portfolio companies gain access to UK/EU/US capital, expertise, and pharma networks, while international companies benefit from Australia’s world-class clinical trial and research capabilities.

    About Brandon Capital – www.brandoncapital.vc

    Brandon Capital is Australasia’s leading life sciences venture capital firm, with offices in Australia, New Zealand, the US and the UK. Its unique model includes proprietary deal flow through Brandon BioCatalyst, a collaboration of over 50 of ANZ’s leading medical research institutions, and its immersive corporate services structure enables portfolio companies to focus on research commercialisation. With more than 30 active companies in its portfolio, Brandon Capital has been sourcing and supporting the transition of world-leading science into world-leading businesses for nearly two decades.

    For further information please contact

    Media – Australia
    Kirrily Davis, E: kdavis@bcpvc.com M: +61 (0)401 220228

    Media – International
    Sue Charles, Charles Consultants E: sue.charles@charles-consultants.com M: +44 (0)7968 726585

    Chris Gardner, E: Chris@CGComms.onmicrosoft.com M: +44 (0)7956 031077

    About the National Reconstruction Fund Corporation (NRFC)

    The NRFC invests to diversify and transform Australia’s industry and economy. It has $15 billion to invest using direct loans, equity investments and loan guarantees. The NRFC investment mandate covers seven priority areas including value-add in resources; transport; medical science; defence capability; renewables and low emission technologies; value-add in agriculture, forestry and fisheries; and enabling capabilities. 

    The NRFC’s role is to invest in Australian businesses and projects that design, refine and make in order to transform capability, grow jobs and a skilled workforce, and diversify our economy. NRFC is a corporate Commonwealth entity, established by the National Reconstruction Fund Corporation Act 2023 (NRFC Act) in September 2023.

    For more information, visit nrf.gov.au 

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