NewzIntel.com

Category: Balkans

  • MIL-OSI Europe: Bulgaria to join euro area on 1 January 2026

    Source: European Central Bank

    8 July 2025

    • Conversion rate of lev fixed at 1.95583 = EUR 1
    • Bulgaria joined the ERM II in 2020
    • Bulgarian banks supervised by ECB since 2020

    Today the Council of the European Union formally approved the accession of Bulgaria to the euro area on 1 January 2026 and determined a Bulgarian lev conversion rate of 1.95583 per euro. This is the current central rate of the lev in the Exchange Rate Mechanism (ERM II), which the currency joined on 10 July 2020. The European Central Bank (ECB) and Българска народна банка (Bulgarian National Bank) agreed to monitor developments in the Bulgarian lev against the euro on the foreign exchange market until 1 January 2026.

    With the entry into force of the close cooperation framework between the ECB and Българска народна банка (Bulgarian National Bank), the ECB has been responsible for directly supervising four significant institutions and overseeing 13 less significant institutions in Bulgaria since 1 October 2020.

    For media queries, please contact Benoit Deeg, tel.: +49 172 1683 704.

    Notes

    • The agreement to monitor the lev is in the context of ERM II. Participation in ERM II and observance of the normal fluctuation margins for at least the last two years is one of the convergence criteria to be fulfilled ahead of euro area accession.
    • The conversion rate of the lev is set by way of an amendment to Regulation (EC) No 2866/98, which will become effective on 1 January 2026.

    MIL OSI Europe News –

  • MIL-OSI Europe: Press release – Parliament endorses Bulgaria’s adoption of the euro

    Source: European Parliament 3

    MEPs gave an overwhelmingly favourable opinion on Tuesday on Bulgaria’s bid to adopt the euro and join the Euro area on 1 January 2026.

    Parliament, by 531 votes in favour, 69 against and 79 abstentions, adopted a report confirming Bulgaria fulfils the criteria for adopting the euro on 1 January 2026.

    After confirmation by EU member states, Bulgaria will become the 21st member of the Euro area. The most recent country to join was Croatia in 2023.

    Quotes

    Rapporteur Eva Maydell (EPP, BG) said after the vote:

    “Today’s vote sends a clear signal: Bulgaria is ready to join the Euro area. All criteria have been met, and this step marks a key milestone towards Bulgaria’s full European integration – for the country and its citizens.”

    Press conference

    A press conference with the rapporteur will be held at 14:00 CET, in Strasbourg. You can follow it here. As a journalist you can also participate and ask questions by logging in through Interactio.

    Next steps

    Parliament’s opinion will be forwarded to the Euro area member states who, later today, are expected to give Bulgaria the final go-ahead.

    MIL OSI Europe News –

  • Heatwaves, droughts and wildfires costing Europe billions each year

    Source: Government of India

    Source: Government of India (4)

    Extreme heat and worsening drought situations are gripping large parts of Europe, sparking wildfires, triggering red alerts and intensifying global calls for effective climate actions. Driven by climate change, scientists warn, these conditions signal a new era of drought, threatening food security, energy security, ecosystems and economies.

    The worrying part is that heatwaves and wildfires are constantly growing deadlier and costlier. If the European Environment Agency (EEA) is to be believed, heatwaves and wildfires are costing Europe billions of euros every year. Estimatedly, in 2023 alone, such climate-related disasters cost around 45 billion euros to 38 European countries, including EU, other European Economic Area (EEA) members, and cooperating countries.

    If we take into account the total economic losses from weather and climate related calamities, they exceeded 790 billion euros across the European Economic Area, comprising 32 EEA member states and six Western Balkan countries between 1980 and 2023.

    In recent years, Europe has faced an alarming rise in climate-driven calamities like extreme weather conditions, particularly heatwaves and wildfires. These disasters are endangering lives and ecosystems, while at the same time imposing severe economic burdens on governments, local communities and industries. Germany, Italy, France and Spain faced the highest economic losses, however, as per the environmental agency, little of this damage was insured.

    According to the European Environment Agency, the leading causes of the damage are floods, storms, wind and hail, while heatwaves cause the most deaths in majority of the countries. As far as economic losses are concerned, they may vary from year to year and country to country, but trends suggest there is a sharp rise in economic damage, which may go beyond 50 billion euros annually.

    There is little doubt that people across the world are struggling with sweltering hot temperatures fuelled by climate change, but the way the sweltering summer is gripping southern Europe, parts of the US and the UK is unprecedented.

    The scourge of the rising temperature can be understood from the fact that southern Spain experienced 46 degrees Celsius temperature a few days earlier, which is a new record for the month of June. According to the national weather agency, Barcelona has set a new record for its hottest month in June this year, forcing the authorities to urge people to seek shelter from this excruciating heat condition.

    A number of countries including France and Italy, have stationed their ambulances near tourist hotspots to treat people if they suffer from heatstroke. Among the vulnerable are people over 65 years of age, pregnant women, children and those with chronic health conditions.

    In June, fires caused by the heat and strong winds struck France, Turkey, Greece, Italy and a few other countries, making situations worse than even expected. Germany, the largest economy of Europe and the third largest globally, is also facing a similar situation, as the temperature this year is hovering around 40 degrees Celsius. The town of Andernach in western Germany recorded 39.3 degrees Celsius, marking the highest temperature so far this year, according to the German Weather Service (DWD). Germany’s all-time heat record is 41.2 degrees Celsius, recorded on July 25, 2019.

    The worsening heat situations have forced quite a few countries to issue heat alerts. Sixteen regions in France including Paris and other parts of southern and eastern Europe have heat alerts in place. The soaring temperatures forced its Climate Minister, Agnes Pannier-Runacher to call the situation an unprecedented one. Heat alerts are also in place in several parts of Spain, Portugal, Italy, Britain and Balkan countries like Croatia. Several countries have recorded their hottest June this year.

    Besides emergency services being put in place in several countries and warnings being issued for people to stay inside as much as possible, around 200 schools across France are either closed or partially closed as a result of the heatwave conditions.

    Heatwaves are impacting many parts of Central Asia, the Middle East, North Africa, North America and a few others also, but the way Europe is facing heat conditions calls for urgent measures, as the region is not known for such heatwave conditions.

    Studies suggest more than two-thirds of the heatwave conditions have hit Europe since 2000 and the conditions are gradually worsening. The Intergovernmental Panel on Climate Change Sixth Assessment Report shows that by 2050, around half of the people in Europe may be exposed to heatwave conditions during summer.

    It is also undeniably true that the effects of heatwave conditions are more pronounced in cities, as urban environments are significantly warmer than rural areas due to a large number of paved surfaces, huge multi-story buildings, large number of all kinds of vehicles and several other heat-generating sources.

    A new UN report says droughts have risen 30% since 2000, now affecting all sectors from agriculture and energy to healthcare and infrastructure. Owing to very high temperatures, the economic distress of people is growing fast.

    Just as COVID-19 strained the insurance sector, rising temperatures are now compounding the pressure, with insurers reassessing the risks and costs of covering properties in high-risk zones across Europe.

    Public infrastructure is also not immune to the stress being thrown upon by rising temperatures. Roads, railways, power grids and hospitals also suffer heatwave-related wear and tear. Wildfires destroy homes, farmlands and forests, which require billions for reconstruction and recovery.

    The economic toll can be gauged from the fact that some countries are already losing up to 10% of GDP annually, as suggested by some environmental and economic reports. The OECD warns drought-related costs could double again by 2035.

    Hence, environmentalists and those who understand these damaging trends urge urgent global investment in early warning systems, drought monitoring, nature-based solutions and climate-resilient infrastructure. Without strong action and better implementation of national plans, droughts could spiral into global economic and humanitarian shocks.

    Clearly, the need for urgent and coordinated action has never been more critical, as heatwaves intensify across Europe and the globe, driven by accelerating climate change. Mitigating these impacts requires multi-fold efforts, including reducing greenhouse gas emissions to slow global warming and investing heavily in adaptation measures to protect people, economies and ecosystems from escalating heat extremes.

    For Europe, this means upgrading infrastructure to withstand extreme heat, expanding green urban spaces to reduce the urban heat island effect and strengthening public health systems to respond to heat-related health conditions. Since the majority of the countries in Europe are not prepared to face such heatwave conditions, they need to improve early warning systems, ensure access to cooling centers for vulnerable populations and integrate climate resilience into housing and city planning.

    On global scale, cooperation and coordination among countries are essential, as climate change-related calamities are not going to be restricted to a few regions. Hence, sharing technology, funding nature-based solutions like reforestation and watershed restoration and supporting climate-vulnerable regions are key to having a holistic solution. The world also requires a proactive and science-driven approach along with an equity-based climate strategy before the human and economic cost becomes unmanageable for us.

  • MIL-OSI Europe: Press release – EP TODAY

    Source: European Parliament

    Danish Presidency

    At 10:30, Mette Frederiksen, Prime Minister of Denmark, will present her country’s priorities for its six-month Council presidency, which began on 1 July. Maroš Šefčovič, European Commissioner responsible for interinstitutional relations will also attend. Parliament President Roberta Metsola will hold a press conference with Prime Minister Frederiksen in the Daphné Caruana Galizia press room from 12:15.
    Thomas HAAHR
    (+32) 470 88 09 87
    presse-DK@europarl.europa.eu

    EU-China relations

    Earlier, at 9:00, the day will begin with a joint debate on EU China relations. MEPs will first prepare for the 2025 EU-China summit, to take place later in July. Plenary will then move on to discuss the issue of China’s export restrictions on critical raw materials. A vote on a resolution on the latter is scheduled for Thursday. The debate will include statements by European Commission President Ursula von der Leyen, and Danish European Affairs Minister Marie Bjerre, for the Council.
    Viktor ALMQVIST
    (+32) 470 88 29 42
    Snjezana KOBESCAK SMODIS
    (+32) 470 96 08 19
    @EP_ForeignAff

    Situation in the Middle East

    In a mid-afternoon debate with Danish European Affairs Minister Marie Bjerre and Commissioner Jessika Roswall, MEPs will review the latest events in the Middle East and what the EU can do to help restore peace.
    Viktor ALMQVIST
    (+32) 470 88 29 42
    Snjezana KOBESCAK SMODIS
    (+32) 470 96 08 19
    @EP_ForeignAff

    European Climate Law

    A new 2040 greenhouse gas reduction target of 90% compared with 1990 levels, to be included in the EU Climate Law, is one of a new set of proposals adopted by the Commission on 2 July. Members will vote at noon on whether to fast-track Parliament’s work on the file. A debate with Commissioner Wopke Hoekstra on the proposals will start at about 15:30.
    Thomas HAAHR
    (+32) 470 88 09 87
    @EP_Environment

    In brief

    Gas storage. Members will vote at noon on a draft law to address gas market speculation and reduce prices by introducing greater flexibility in gas refilling rules ahead of the winter season. Parliament and Council have already reached an informal agreement on the file.

    Chemicals package. An action plan to boost the EU’s chemicals industry and measures to simplify EU chemicals laws are part of a new package Commission Executive Vice-President Stéphane Séjourné and Commissioner Jessika Roswall will present to Parliament at 15:00.

    Media freedom. The implementation of the European Media Freedom Act (EMFA) will be the subject of a debate with Danish European Affairs Minister Marie Bjerre and Commissioner Michael McGrath starting after the votes. A seminar on the EMFA for journalists, with key MEPs and experts, will take place at 15:00 in room De Madariaga S5. Journalists can follow it in person or via Interactio.

    Enlargement. In the evening, Parliament and Commission Executive Vice-President Stéphane Séjourné and Commissioner Jessika Roswall will debate the Commission’s 2023 and 2024 reports on progress made by Albania, Bosnia and Herzegovina, North Macedonia and Georgia towards EU accession. The votes will take place on Wednesday.

    Votes

    At noon, MEPs will vote, among others, on:

    • whether to endorse Bulgaria’s adoption of the euro;
    • security of energy supply in the EU;
    • the EU-Greenland and Denmark Sustainable Fisheries Partnership Agreement;
    • the progressive start of operations of the Entry/Exit System;
    • the European Investment Bank’s 2024 annual report;
    • preserving the memory of victims of Slovenia’s post-war communist period.

    Live coverage of the plenary session can be found on Parliament’s webstreaming site and on EbS+.

    For detailed information on the session, please also see our newsletter.

    Find more information regarding plenary.

    MIL OSI Europe News –

  • MIL-OSI Banking: BSTDB Invests EUR 40 million to Support Bulgaria’s Energy Security and Regional Integration

    Source: Black Sea Trade and Development Bank

    Press Release | 08-Jul-2025

    Financing Will Strengthen Bulgarian Energy Holding

    In a strategic move to advance energy resilience, sustainable infrastructure, and economic integration in the Black Sea region, the Black Sea Trade and Development Bank (BSTDB) has invested EUR 40 million in the latest bond issuance by the Bulgarian Energy Holding EAD (BEH), Bulgaria’s state-owned energy leader and a major electricity exporter in the Balkans.

    The BSTDB financing will support BEH in implementing strategic investment projects in the country, particularly the modernization of the national electricity transmission infrastructure. These investments aim to strengthen the country’s energy security, improve system reliability, and contribute to broader economic development.

    The investment also supports the goals of the Black Sea Economic Cooperation (BSEC) agenda by fostering infrastructure connectivity and sustainable energy systems — key pillars of regional development and integration among BSEC Member States.

    “Energy sector development is one of BSTDB’s top priorities in Bulgaria and across the Black Sea region,” said Dr. Serhat Köksal, President of BSTDB. “We are pleased to continue supporting Bulgarian Energy Holding’s investment programme, which aligns with our mandate to promote regional economic cooperation and integration. Enhancing energy infrastructure not only serves national needs but also contributes to a more connected and resilient Black Sea energy market.”

    “It is a pleasure to recognize BSTDB as a valued partner supporting our ongoing efforts in the energy sector. This partnership reflects our shared commitment to the development of key strategic projects that will strengthen energy security and promote sustainable development not only in Bulgaria, but across the wider region. We deeply appreciate BSTDB’s support and expertise, and we look forward to continuing our successful cooperation in the years to come,” said Valentin Nikolov, CEO of Bulgarian Energy Holding.

     

    Bulgarian Energy Holding EAD is the parent company of a group of subsidiaries and affiliates active in electricity generation, transmission, and supply, as well as natural gas transmission, supply, storage, and coal mining. BEH plays a central role in Bulgaria’s energy landscape, owning and operating the country’s main electricity generation assets, the national electricity transmission grid, and the gas transmission and transit network. As the public supplier of electricity and gas, it is a strategically vital institution for both domestic energy stability and regional energy cooperation.

    The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.

     

    Contact: Haroula Christodoulou

    : @BSTDB

    MIL OSI Global Banks –

  • Sinner gets out of jail to reach last eight as Dimitrov retires at Wimbledon

    Source: Government of India

    Source: Government of India (4)

    Top seed Jannik Sinner struggled with an elbow problem and was given an almighty scare before advancing to the quarter-finals of Wimbledon after a cruel twist of fate for his 19th-seeded opponent Grigor Dimitrov who retired injured at two sets up.

    Novak Djokovic continued his quest for Grand Slam glory at the All England Club with a battling victory over Alex de Minaur while five-times major champion Iga Swiatek found her grasscourt wings to fly past Clara Tauson.

    The drama was reserved for the evening clash on Centre Court as Dimitrov, who had pulled out injured in his last four majors, played exquisite tennis to go up 6-3 7-5 2-2 but then crashed to the ground after a big ace to hold serve.

    Sinner, who had been hampered for much of the contest by a right elbow issue after slipping and falling to the turf early on, was left feeling sorry for his opponent who threw in the towel after a short assessment by a doctor.

    “I don’t know what to say because he’s an incredible player. I think we all saw this today,” said Sinner, who was by a tearful Dimitrov’s side while the Bulgarian was attended to.

    “He’s been so unlucky in the past couple of years. He’s an incredible player, a good friend of mine also, and we understand each other very well off the court too.

    “Seeing him in this position… if there would be a chance that he could play in the next round, he would deserve it. Now I hope he has a speedy recovery. Very, very unlucky from his side.

    “I don’t take this as a win at all… just an unfortunate moment to witness for all of us.”

    Sinner later told reporters he would have an MRI scan to check his own injury.

    “It happened very early in the match, first game. It was quite an unfortunate fall. We checked the videos a bit, and it didn’t seem a tough one, but I still felt it quite a lot, especially serve and forehand,” he added.

    “So let’s see… tomorrow we are going to check with MRI to see if there’s something serious and then we try to adjust it.”

    Sinner next faces American 10th seed Ben Shelton, who beat another Italian in Lorenzo Sonego 3-6 6-1 7-6(1) 7-5 to advance to the quarter-finals at Wimbledon for the first time, as did Flavio Cobolli, who downed Marin Cilic 6-4 6-4 6-7(4) 7-6(3).

    ROCKY ROAD

    Djokovic marched into the Wimbledon last eight for the 16th time but the Serbian trod a rocky road before defeating De Minaur 1-6 6-4 6-4 6-4 to keep alive his quest for a 25th major title to surpass Margaret Court.

    Watched from the Royal Box by another great in Roger Federer, the man whose record eight All England Club trophies Djokovic is trying to equal, the sixth seed surrendered the first set in 31 minutes before roaring back to win.

    “We did catch up very shortly,” Djokovic said of his meeting with Federer afterwards.

    “We greeted each other. He congratulated me and said it was a great match. That’s all. It was a very short greeting, but it was really nice to have him around.

    “He’s one of the greatest legends of our game. So it always is extra special when he’s on the stands. I’m glad to break the curse and win in front of him. It’s a big relief.”

    Federer’s fellow Swiss and former doubles partner Belinda Bencic made her first Wimbledon quarter-final in nine attempts after dismissing 18th-seeded Russian Ekaterina Alexandrova 7-6(4) 6-4 in a little under two hours on a breezy Court One.

    The 28-year-old Tokyo 2020 Olympic champion shed tears of joy after she finally broke the fourth-round barrier 15 months since giving birth to her daughter Bella and she said she was surprised at her high level.

    “I’m really happy about it. Of course, I try not to think about it. I feel great on the practice court. When I was coming back, that’s why I felt like I came back earlier than expected, than I expected for myself,” Bencic said.

    “I’m also surprised about how fast the results are coming.”

    She will need all her battling qualities when she takes on seventh seed Mirra Andreeva, the Russian teenager who made short work of American 10th seed Emma Navarro 6-2 6-3 on her Centre Court debut with her idol Federer still in attendance.

    Swiatek shrugged off a slow start to beat Danish 23rd seed Tauson 6-4 6-1 and set up a meeting with Liudmila Samsonova, who saw off Jessica Bouzas Maneiro 7-5 7-5.

    (Reuters)

  • MIL-OSI Asia-Pac: Speech by SJ at business seminar and dinner in Amsterdam, Netherlands (English only) (with photo)

    Source: Hong Kong Government special administrative region

         Following are the welcome remarks by the Secretary for Justice, Mr Paul Lam, SC, at a business seminar and dinner organised by the Netherlands Hong Kong Business Association with the support of the Hong Kong Economic and Trade Office in Brussels and Invest Hong Kong on July 7 (Amsterdam time):
     
    His Excellency Mr Tan Jian (Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the Kingdom of the Netherlands), dear friends from the Association, and distinguished guests in the Netherlands,
     
    Firstly, I’m really delighted and honoured to be given the chance to speak to these distinguished audience this evening. Perhaps I should begin by telling you a little bit more about myself and the purpose of my present trip. I have used to practice in Hong Kong as a civil and commercial barrister. I’ve been practicing in Hong Kong for almost 30 years and then joined the Government about three years ago. So that’s when I became the Secretary for Justice.
     
    I had considered to come to the Netherlands and this part of the world for a very long time. Unfortunately, for many reasons I was unable to do this until this occasion. So this is in fact my first trip to Europe after I took my office. So I’ve chosen the Netherlands.
     
    For personal reasons, I love travelling in the past. I travelled quite a lot. Amsterdam is very top on my list, I always come to Amsterdam to stay a couple of days, go to museums, restaurants, just to walk around, and then I move on as a stopover, and move on to other destinations. But Amsterdam is always a stop that I could not miss, so I have very good personal reasons to come to Amsterdam once again.
     
    For official reasons, the Netherlands is the second-largest trading partner of Hong Kong within Europe. There are more than 170 companies in Hong Kong. And I was invited to join the National Day Reception in late April. So, I have too many reasons to choose the Netherlands as my best destination.
     
    Returning to today’s seminar, I understand that you have heard from many eminent speakers this afternoon who have shared with you many important information about the latest development in Hong Kong in different areas. I know that you are all very keen supporters of Hong Kong and there must be reasons why you were attracted to Hong Kong. Maybe the probable reason is that you see Hong Kong as a very open society. We offer a very fair, transparent, predictable environment for you to explore business opportunities, either in Hong Kong, in China, or the Asia Pacific region. But I think all these characteristics are highly concerned with the political and legal landscape of Hong Kong. This is an important point in the sense that we are living at a rather difficult time. And Hong Kong has faced a lot of challenges in recent years. You are all keen supporters of Hong Kong. But outside this room, I’m clearly aware of the fact that many people do have a lot of questions about the future of Hong Kong. They may not be as confident as you of the future of Hong Kong. There are a lot of misgivings, misunderstandings, so on and so forth. I do believe that it’s my duty, not simply as a government official, but as a Hong Kong citizen, to bite the bullet, to face the music, to try to convince people why Hong Kong is still the Hong Kong that you are familiar with, why Hong Kong is still the Hong Kong that we all love.
     
    There’s one single message that I wish to convey, and that is “Hong Kong is still Hong Kong”. I wish to perhaps look at the latest development or something that I regard to be of great importance insofar as political landscape and legal landscape are concerned. Let me begin by the political landscapes of Hong Kong. I make it all boiled down to one very important thing. The gist of the matter is the principle of “one country, two system”. It’s because of “one country, two systems”, Hong Kong enjoys a number of very unique strengths and characteristics which are unparalleled. For example, we have our own independent legal system based on common law, our own independent financial system, our own currency, free flow of capital, we have trade port, we have no tariffs, no trade barriers, but all these things are because of the fact that we have “one country, two systems”.
     
    So the elephant in the room is this, is the principle of “one country, two systems” to be maintained, or is it going to be changed in whatever way in future? I wish to give you three reasons, why there shouldn’t be any worry or concern that the principle of “one country, two systems” will be altered or changed in future. The first reason is that the principle of “one country, two systems”, notwithstanding the fact that it’s a political concept, but actually it’s constitutional entrenched in the sense that its implementation is guaranteed by a constitutional document which is the Basic Law. I’m sure that many people in this room is familiar with the Basic Law. But what I wish to highlight is that on July 1, we celebrated the 28th anniversary of China’s resumption of sovereignty over Hong Kong. And for 28 years, and notwithstanding the fact that we had encountered a number of difficulties and challenges, not a single word, not a single clause in our Basic Law had been changed.
     
    Secondly, which is a matter of law, I think lawyers would be interested in what I am saying. In the Basic Law, there’s a provision which allows amendment to be made to the Basic Law, subject to a very important qualification. There’s a very clear, expressed provision, that any amendment cannot contravene, or cannot change the basic policy of the People’s Republic of China regarding Hong Kong, and that basic policy is precisely “one country, two systems”. So legally speaking, as a matter of constitutional, our constitutional order, you cannot really change the fundamental principle of “one country, two systems”. So if you feel that I’m not too legalistic, I move on to my second point, my second reason.
     
    The second reason is highly political, but it’s of crucial importance in the present context. That goes to the reassurances given by the top state leaders of the People’s Republic of China. I would mention three very important speeches, two made by President Xi Jinping. And the last speech was given by Wang Yi, the Minister of Foreign Affairs. First, President Xi Jinping said on July 1, 2022, it was the 25th anniversary of China’s resumption of sovereignty over Hong Kong. It was when I assumed my current position as the Secretary for Justice. In his very important speech, he made a very important point. He said that the principal of “one country, two systems” is a good policy that must be adhered to in the long run. I think he was trying to convey a very important message, to dispel any misgivings, any doubts that Beijing had any intention whatsoever to change its basic policy towards Hong Kong. The “one country, two systems” principle also applies to Macau. So more recently, on December 20, 2024, also at the 25th anniversary of China’s resumption of sovereignty over Macau, President Xi Jinping made another very important speech, repeating why the principle of “one country, two systems” is a good system. At the end, he said that the principle of “one country, two systems” actually embodies very important universal values – peace, openness, inclusiveness, and sharing. And he said that these values are valuable, important, not just to China, Macau, or even China as a whole, but to the whole world. So the China’s national strategy is to make use of this principle of “one country, two systems” to assist its modernisation. So as a matter of logic and common sense, it’s unthinkable that either HKSAR (Hong Kong Special Administrative Region) or Beijing would shoot ourselves in the foot by damaging or destroying the most valuable asset which makes Hong Kong being in a position to contribute to the success or even survival of Hong Kong.
     
    The last speech was given by Mr Wang Yi, the Minister of Foreign Affairs, when he attended the signing ceremony of a very important international convention. It’s known as the Convention on the Establishment of the International Organization for Mediation. It is an international treaty signed by 33 countries, including China. And most of these countries include countries in Southeast Asia, Africa, and even one in Europe, Serbia. The Swiss foreign minister came to Hong Kong to give a speech. The purpose of the convention is to set up the first inter-governmental international organisation, which is devoted to use mediation as a means to resolve different types of international disputes, including disputes between sovereign states, disputes between states and foreign nationals, say, for example, investor-state disputes, and even international civil and commercial disputes. The important thing is that the state parties, in particular China, supported that the headquarters of this new organisation will be situated in Hong Kong. The question is why. Just imagine for Beijing or even other countries, they have a lot of options. Why not in Beijing, why not in Shanghai, why not in Shenzhen or anywhere? But Hong Kong, why Hong Kong? I think Mr Wang Yi gave the answer in his important speech. He mentioned once again it’s because of “one country, two systems”. Because under “one country, two systems”, Hong Kong inherits the common law tradition, but at the same time, the Mainland China practises a civil law system. There’s a synergy between the systems. So we are the best of both worlds, so to speak. And that’s precisely the reason why such an important international organisation, the headquarters of such an organisation will be situated in Hong Kong. This is a very important message. It is a very strong vote of confidence and given by not just China, but other state parties in the future of Hong Kong. So that’s my second reason.
     
    The third reason concerns a piece of law passed last year in Hong Kong. For people familiar with Hong Kong, you would be aware that all lands in Hong Kong are held pursuant to government leases, except for St. John’s Cathedral. For people who have been to Hong Kong, you know that St. John’s Cathedral is a freehold land for historical reasons. But otherwise, all lands in Hong Kong that were held pursuant to government leases, which means that they were for a fixed time, very often for 99 years. And the reality is that many of these government leases, hundreds and thousands, will expire by 2047. That is 50 years after China’s resumption of sovereignty over Hong Kong. So last year, we passed a legislation, the effect of which is that all these leases, which are going to expire before, or by 2047 will be automatically renewed for 50 years, without any additional premium. That means that these land ownership will be guaranteed, they will continue, they will go beyond 2047. Of course, land ownership is extremely important. It is not simply concerned with the provision of shelter or home for people. It serves as very important security, a very valuable asset for business people, for financial institution. So that’s the way we assure people that our system will not change because I cannot find a more important example showing the distinguished feature of “one country, two systems” by referring to our land ownership system. So I think this is a very compelling piece of evidence. I have three pieces of evidence to convince people that any misgiving would be misplaced. So this is about the political landscape.
     
    What about the legal landscape? I mentioned a moment ago that one of the essential characteristics of “one country, two systems” is the fact that we are still using the common law system. I wish to highlight three very important features of our common law system that will be maintained, enhanced, and of great importance in ensuring Hong Kong’s continued success in the future.
     
    Firstly, the credibility of our common law system. Our people are willing to come to Hong Kong because they believe in Hong Kong’s legal system. And one of the key reasons is that in Hong Kong we have a very reputable and credible independent judiciary. Judicial independence is a very key element of a legal system. How do we show to people that Hong Kong’s judicial system, Hong Kong’s judiciary, will remain independent? The answer is that we are a very open system. We have invited many eminent foreign judges from other common law jurisdictions to sit in our court. I wish to give two very concrete examples. Under the Basic Law, Hong Kong enjoys the power of final adjudication, because before 1997, all the final appeal cases would have to be heard in Privy Council in London. But after 1997, we enjoy the final power of adjudication. So the highest court will be the Court of Final Appeal and that’s a very special arrangement, which I’m sure that some of you would be aware of. We are at liberty, we are permitted to invite judges from other common law jurisdictions to sit as foreign non-permanent judges. At the moment, and I would say that even after 2019 and 2020 when Hong Kong experienced some challenges, even after 2020, or since 2020, we have three foreign judges agreeing to come to Hong Kong. So for the time being, there are altogether six foreign non-permanent judges. Two from England, Lord Hoffmann and Lord Neuberger. For lawyers, they would be very familiar names. And then three judges from Australia, and one from New Zealand. The most recent appointment was Sir William Young, a former judge of the Supreme Court of New Zealand. He was appointed in June, so less than a month ago. So why would these eminent judges agree to come to Hong Kong if they are not confident and do not believe in Hong Kong itself? The other thing is that even at the Court of First Instance level, the judiciary has been inviting judges from other common law jurisdictions to sit as part-time judges. And I can also give a very recent example. I know that very soon, a judge who is a British, a very eminent British lawyer, will come to Hong Kong to sit in commercial cases. So these are the continuous efforts made by Hong Kong to ensure that we will retain the international characteristic to give people confidence.
     
    And of course, I have to mention, it’s something that I hesitate to mention, that the Government still loses cases from time to time, but it’s the most compelling evidence to prove the existence of judicial independence. Of course I would not say that I was very happy with the outcome, but I described it as a very healthy phenomenon. It’s very cogent and conclusive proof of the fact that our legal and judicial system functions properly. So this is my first point, the credibility of a judicial system.
     
    The second characteristic goes to the fact that we have a very user-friendly system – common law system. One thing that may be very often can be overlooked is that Hong Kong is the only bilingual common law system using both English and Chinese.

    Notwithstanding that China has resumed sovereignty over Hong Kong, one would have naturally expected that Chinese would be the only authentic language, but that’s not true. Even in our legislation, in our court judgments, things would be written in both languages, which is of course important to the international community.
     
    The second thing is that we have made tremendous effort to ensure that our law will meet the changing needs of society, not just within Hong Kong but also the international community. I give two examples. The first example is that we have just amended our company ordinance, which came into effect in late May. It provides a scheme to enable companies being operated overseas to re-domicile to Hong Kong, by a very simple mechanism, so that they can enjoy tax advantage, a relatively simple regulatory regime, so on and so forth. I understand that two major insurance companies have indicated that they will re-domicile to Hong Kong probably in November this year. The second example goes to digital assets, the Stablecoins Ordinance. The ordinance will come into effect on August 1. I think it’s an indication of our determination to strike a balance. You have to have some sort of regulation, some sort of licensing, but at the same time, you have to enable this digital thing to be able to develop in a healthy manner. So this is my second point, we have a very user-friendly common law system.
     
    The last point, which is really unique, which is something that cannot be found, is our connection with the Mainland legal system. Under “one country, two systems”, we have our common law system, we do not use the Mainland legal system. It doesn’t mean that there’s no connection or no linkage between the two systems. On the contrary, there are very important connections between the two legal systems, which are of great practical importance to the international business community. And once again, I wish to use some examples. The first example concerns arbitration. Can arbitration awards in Hong Kong be recognised or enforced in Mainland China? The answer is that we have a very special mutual legal assistance arrangement with Mainland China. There are altogether nine, but suffice for me to mention that’s an arrangement which enables an arbitration award in Hong Kong to be easily recognised and enforced in China. It’s modelled on a well-known New York convention. So it’s no different as any other international award. And another special thing which also about arbitration is that Hong Kong and Mainland China has entered into a very special arrangement to enable arbitration to start or commence in Hong Kong. People engaged in this sort of arbitration would be entitled to apply for interim measures like interim injunction to freeze the assets of the opposing party to preserve evidence in Mainland China by making application in the Mainland court. For example, you start an arbitration in Hong Kong, then you can go to the Mainland court to apply to freeze the assets of your opponent to preserve evidence. I can give you the statistics to see how important and how successful this arrangement is. The arrangement came into existence on the October 1, 2019, and up to mid-May this year, there were altogether around 146 applications. And the value of assets which were subject to this interim preservation order would be around US$5 billion. That will be a very important and practical legal tool to use Hong Kong as a legal dispute resolution centre. And the second more recent example, that I wish to introduce to you, concerns the Greater Bay Area (GBA). The Greater Bay Area consists of Hong Kong, Macau, and mainly the nine important cities in the Guangdong province. The population is 86 million. I think the size is more like Croatia, but the GDP has exceeded Australia. I think it would be top 10 as it seen as a single entity. So a lot of opportunities. So just on the February 14, we have introduced special measures to enable Hong Kong enterprise, if they set up an office or their own company in GBA cities, they would have the right to choose Hong Kong law to govern their contracts. In the old days, there were very serious restrictions. Even if you’re a foreign company, a Hong Kong company, if you set up your company in Mainland China, you have no option. You have to use Mainland law to govern your contractual relationship. The second thing is that you can also choose Hong Kong as the seat of arbitration to resolve any potential dispute. And once again, in the past, that option would not be open. You have to use the dispute resolution mechanism or arbitration in Mainland China. So these are special measures which were recently introduced to give people more options. We can readily understand that, in particular for people outside Hong Kong, they may feel more familiar with Hong Kong’s legal system, whether it’s used as the governing law or whether it’s used as the place to resolve disputes. The choice belongs to the end users, but you have to give people the choice. So we are offering people this choice.
     
    Another important thing is the definition of Hong Kong enterprise. It doesn’t mean that it has to be a 100 per cent owned Hong Kong company. So long as there’s some Hong Kong interest, say 1 per cent Hong Kong interest. So if you get a business partner who’s willing to invest 1 per cent in a business venture, then you will be qualified to be a Hong Kong enterprise. And if you use this in the name of this Hong Kong enterprise, you go into a GBA area, then you can take advantage of the measures that I have just mentioned. I’m using this example to highlight the very unique connection between the Hong Kong common law system and the Mainland legal system, which offers very important practical advantages to the international business community.
     
    Lastly, you may say that I’m just selecting the good news. What about external views on the state of the rule of law in Hong Kong? I wish to refer to two very recent international surveys to support that what I have been telling you is not some sort of self-serving statement trying to paint a rosy picture. Firstly, the IMD, the Institute for Management Development in Switzerland, published a competitiveness survey in June, so about a month ago. In terms of global competitiveness, Hong Kong is the third. In the last survey, we were the fifth, so we moved two places up. We ranked second in terms of government efficiency and also business efficiency. And most importantly, Hong Kong ranked the first when it comes to business legislation, which means our business law and also our tax policy. This is the external view based on a very credible international survey. The second international survey that I wish to refer to is an international survey concerning international arbitration. It’s a survey done by the Queen Mary University of London, together with the law firm White & Case. It’s a regular survey done once every three or four years. In the very recent survey, Hong Kong is regarded to be the second most preferred seat of arbitration in the world. Hong Kong and Singapore both enjoy the second place. And in fact, Hong Kong is the most preferred place for arbitration in the Asia-Pacific region. So once again, this serves as a very strong piece of objective evidence to demonstrate people’s confidence in our legal system.
     
    We are living at a time of uncertainties and challenges, many of these challenges were caused by reasons or factors beyond our control. Some of them goes to geopolitical situations, things like that. The role of Hong Kong can play from the perspective be considered in a wider context, not just as a matter of bilateral relationship between Hong Kong and the Netherlands. It has to be perhaps considered in the wider context of the overall relationship between Europe and China, or perhaps Europe and Asia-Pacific, as a whole. I think the relationship between Europe and China and Hong Kong has become even more relevant and important at this time of great uncertainties and challenges. But amid all these challenges and difficulties, in sharp contrast to these challenges and difficulties, what Hong Kong can offer would be certainty and opportunities. Certainty that you will have a very secure, very user-friendly, very credible legal system to safeguard interests, to manage risk, but enormous opportunities to be found, not just in Hong Kong, not just in the GBA, but China as a whole.
     
    So I do believe, I speak from the bottom of my heart that there are very good reasons for us to remain very confident and optimistic in the future of Hong Kong. And for this, of course, I’m most grateful to the continued support by our friends in this room. I do ask you to continue your support. Whenever people speak in front of you, express any doubt, I do invite you to speak on our behalf to convince them that there’s no reason whatsoever to feel pessimistic. There’s no reason whatsoever for them to be concerned about the future of Hong Kong, because Hong Kong will still be the Hong Kong that we all love, that we are all familiar with. This is all I wish to say. Thank you very much.

    MIL OSI Asia Pacific News –

  • MIL-OSI China: Trump announces 25-40 pct tariffs on 14 countries

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

    White House Press Secretary Karoline Leavitt showcases U.S. President Donald Trump’s letter to the Japanese prime minister during a press briefing at the White House in Washington, D.C., the United States, on July 7, 2025. [Photo/Xinhua]

    U.S. President Donald Trump said Monday on social media that 25-percent tariffs will be imposed on imports from Japan and the Republic of Korea (ROK), respectively, beginning Aug. 1.

    In his letters addressed to the leaders of the two countries, Trump said the new tariffs will be separate from all other sectoral tariffs.

    Later on, he announced that similar letters were sent to the leaders of 12 other countries, namely Malaysia, Kazakhstan, South Africa, Myanmar, Laos, Tunisia, Indonesia, Bangladesh, Serbia, Bosnia and Herzegovina (BiH), Cambodia, and Thailand, informing them that tariffs ranging 25 percent to 40 percent will be charged starting next month.

    The tariffs rate on Malaysia, Kazakhstan and Tunisia will be 25 percent, and it will be 30 percent for South Africa and BiH. Indonesia will face a tariffs rate of 32 percent, and Bangladesh and Serbia will see 35 percent. Tariffs rate on Cambodia and Thailand will be 36 percent, and for Laos and Myanmar it will be as high as 40 percent.

    In the almost identical letters, Trump asked leaders of these countries to understand that the tariffs rates number “is far less than what is needed to eliminate the Trade Deficit disparity we have with your Country.”

    Trump warned that if these countries raise their tariffs in response, the United States will increase its tariffs by the same amount.

    He said that there will be no tariff if these countries or their companies decide to build or manufacture products within the United States, and that “in fact, we will do everything possible to get approvals quickly, professionally, and routinely — In other words, in a matter of weeks.”

    He also said that “if you wish to open your heretofore closed Trading Markets to the United States, and eliminate your Tariff, and Non Tariff, Policies and Trade Barriers, we will, perhaps, consider an adjustment to this letter.”

    White House Press Secretary Karoline Leavitt said Monday afternoon that Trump plans to issue an executive order to extend the pause on “reciprocal tariffs” from July 9 to Aug. 1.

    “So, the reciprocal tariff rate or these new rates that will be provided in this correspondence to these foreign leaders will be going out the door within the next month or deals will be made,” said Leavitt.

    On Wednesday, Trump said that the United States had struck a trade deal with Vietnam that includes a 20-percent tariff on the Southeast Asian country’s exports to the United States.

    MIL OSI China News –

  • MIL-OSI China: Wimbledon: Injured Sinner moves on when Dimitrov retires

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

    Men’s top seed Jannik Sinner advanced to the Wimbledon quarterfinals under unfortunate circumstances on Monday after Grigor Dimitrov was forced to retire due to right pectoral injury while leading their fourth-round clash by two sets.

    Dimitrov was ahead 6-3, 7-5, 2-2 when he fell to the court following an ace. The visibly emotional Bulgarian, unable to lift his right arm, was forced to retire, handing Sinner passage to the next round.

    Sinner will now face American Ben Shelton, who advanced with a 3-6, 6-1, 7-6 (1), 7-5 win over Lorenzo Sonego.

    “I don’t take this as a win at all, this is just an unfortunate moment for us to witness,” Sinner said following the match.

    “He has struggled in Grand Slams with injuries a lot, so seeing him again with this injury is very tough. We all saw by his reaction how much he cares about the sport and he is one of the hardest working players on tour,” the Italian said.

    “This is not the end we wanted to see and it’s very sad,” he added.

    Novak Djokovic hits a return during the men’s singles fourth round match between Novak Djokovic of Serbia and Alex de Minaur of Australia at the Wimbledon Tennis Championships in London, Britain, July 7, 2025. (Xinhua/Li Ying)

    Elsewhere, seven-time champion Novak Djokovic rallied from a set down to defeat Australia’s Alex de Minaur 1-6, 6-4, 6-4, 6-4. The Serbian star will meet Italy’s Flavio Cobolli in the quarterfinals after Cobolli ousted Marin Cilic 6-4, 6-4, 6-7 (4), 7-6 (3).

    In the women’s draw, Iga Swiatek’s pursuit of a maiden Wimbledon title continued as she eased past Denmark’s Clara Tauson 6-4, 6-1 to reach the quarterfinals for the second time. The Polish eighth seed will next face Liudmila Samsonova.

    Teenager Mirra Andreeva reached her first Grand Slam quarterfinal with a commanding 6-2, 6-3 win over Emma Navarro. The 18-year-old will play against Belinda Bencic, who advanced with a 7-6 (4), 6-4 victory over Ekaterina Alexandrova. 

    MIL OSI China News –

  • MIL-OSI China: China’s Liang stunned in WTT US Smash first round

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

    French qualifier Lilian Bardet stunned fourth seed Liang Jingkun of China in a five-game thriller in the men’s singles first round of the World Table Tennis (WTT) United States Smash in Las Vegas on Sunday.

    World No. 5 Liang twice held the lead but was unable to close out the match, falling 5-11, 11-8, 8-11, 11-8, 11-5 to the 85th-ranked Frenchman.

    Liang’s teammate Chen Yuanyu also exited early, suffering an 11-7, 11-8, 11-13, 12-10 defeat to England’s Liam Pitchford.

    Their losses leave world champion Wang Chuqin as the only Chinese player remaining in the bottom half of the men’s draw.

    Wang, who claimed his first major singles title at the World Championships in Doha this May, defeated Romania’s Iulian Chirita 3-1 and will next face Kao Cheng-jui of Chinese Taipei in the second round.

    “Chirita posed a huge challenge to me, but I managed to make adjustment when trailing in the second game and snatch some crucial points,” said Wang.

    Top names including Felix Lebrun, Darko Jorgic and Qiu Dang also advanced to the round of 32.

    In the women’s draw, world No. 1 Sun Yingsha edged Australia’s Liu Yangzi in a full-distance battle, 11-7, 6-11, 11-4, 4-11, 11-4.

    “In my first match here, I was not quite focused on the game,” admitted Sun. “In the opening stages of the second and fourth games, I could not catch up with the opponent on the scoreline. Finally, I got my concentration back in the deciding game.”

    Facing Sun, Liu said she was like playing against AI as “she can solve everything.”

    Chen Xingtong overcame He Zhuojia in a five-game all-Chinese clash and was joined in the second round by compatriots Chen Yi and Kuai Man.

    Japanese stars Miwa Harimoto and Hina Hayata also progressed to the last 32.

    The WTT United States Smash runs through July 13.

    MIL OSI China News –

  • MIL-OSI USA: Fact Sheet: President Donald J. Trump Continues Enforcement of Reciprocal Tariffs and Announces New Tariff Rates

    US Senate News:

    Source: US Whitehouse
    KEEPING AMERICA IN THE DRIVER’S SEAT: Today, President Donald J. Trump signed an Executive Order determining that certain tariff rates, which were initially set to expire on July 9, will expire on August 1, 2025. President Trump also sent tariff letters to many countries informing them of their new reciprocal tariff rates, which will take effect on August 1.
    President Trump took these actions based on information and recommendations from senior officials, including information on the status of trade negotiations.
    Since President Trump modified the tariff rates roughly 90 days ago, dozens of countries have agreed or offered to lower their tariff rates and eliminate non-tariff barriers to move toward a more balanced trade relationship with the United States.
    Notwithstanding this significant and historic progress, the U.S. trade deficit remains severe.
    While the United States is open to additional trade discussions and deals, President Trump is taking action to establish trade relations going forward.

    President Trump sent letters to many countries explaining that, starting August 1, they will be subject to new reciprocal tariff rates designed to make the terms of our bilateral trade relationships more reciprocal over time and to address the national emergency caused by the massive U.S. goods trade deficit.
    In some instances, countries will be subject to a revised reciprocal tariff rate that is lower than the rate initially announced on April 2.
    For others, the reciprocal tariff rate may be higher than the previous rate.

    The President may send more letters in the coming days and weeks. The countries he sent letters to today include:
    Japan (25%)
    Korea (25%)
    South Africa (30%)
    Kazakhstan (25%)
    Laos (40%)
    Malaysia (25%)
    Myanmar (40%)
    Tunisia (25%)
    Bosnia and Herzegovina (30%)
    Indonesia (32%)
    Bangladesh (35%)
    Serbia (35%)
    Cambodia (36%)
    Thailand (36%)

    TAKING BACK OUR ECONOMIC SOVEREIGNTY: Today’s Order, combined with letters sent to trading partners, underscores President Trump’s commitment to take back America’s economic sovereignty by addressing many nonreciprocal trade relationships that threaten our economic and national security.
    President Trump is the best trade negotiator in history. His strategy has focused on addressing systemic imbalances in our tariff rates that have tilted the playing field in favor of our trading partners for decades. 
    Countries that aren’t serious about addressing the tariff and non-tariff trade barriers that impede American exports and harm American workers, farmers, and businesses are facing the consequences.
    President Trump welcomes the business of our trading partners on American soil: as these countries are aware, there will be no tariff if they decide to build or manufacture products in our country.
    President Trump has committed that the United States will do everything possible to get approvals quickly, professionally, and routinely to bring back manufacturing jobs for Americans.

    President Trump is using tariffs as the necessary and powerful tool to put America First after many years of unsustainable trade deficits that threaten our economy and national security. 
    LIBERATING AMERICA FROM UNFAIR TRADE PRACTICES: Since Day One, President Trump challenged the assumption that American workers and businesses must tolerate unfair trade practices that have disadvantaged them for decades and contributed to our historic trade deficit.
    On April 2, President Trump declared a national emergency in response to the large and persistent U.S. goods trade deficit caused by a lack of reciprocity in our bilateral trade relationships, unfair tariff and non-tariff barriers, and U.S. trading partners’ economic policies that suppress domestic wages and consumption.
    President Trump continues to advance the interests of the American people by calling on trading partners to remove tariff and non-tariff barriers and expanding market access for American exporters.
    Today’s announcement, based on reciprocity and fairness, will help usher in a Golden Age for the American People.

    MIL OSI USA News –

  • MIL-OSI Canada: Parliamentary Secretary Oliphant to travel to the Republic of Moldova and Bosnia and Herzegovina

    Source: Government of Canada News (2)

    July 7, 2025 – Ottawa, Ontario – Global Affairs Canada

    The Honourable Anita Anand, Minister of Foreign Affairs, today announced that the Honourable Robert Oliphant, Parliamentary Secretary to the Minister of Foreign Affairs, will visit the Republic of Moldova, as well as Bosnia and Herzegovina, from July 8 to 12, 2025.

    In Chișinău, Moldova, Parliamentary Secretary Oliphant will meet with senior government officials and parliamentarians, as well as with representatives from international organizations, to explore ways for Canada and Moldova to further cooperate on security and stability in the Euro-Atlantic region.

    Parliamentary Secretary Oliphant will then travel to Sarajevo, Bosnia and Herzegovina, where he will meet with senior officials to discuss ways for Canada to continue to support Bosnia and Herzegovina’s institutional reform efforts and Euro-Atlantic integration. He will also attend a commemorative event marking the 30th anniversary of the genocide in Srebrenica, Bosnia and Herzegovina, during which over 8,000 Bosniak men and boys were killed by Bosnian Serb forces.

    MIL OSI Canada News –

  • MIL-OSI Europe: Remarks by Paschal Donohoe following the Eurogroup meeting of 7 July 2025

    Source: Council of the European Union

    Remarks by Eurogroup President Paschal Donohoe after the Eurogroup meeting on his reappointment as President of the Eurogroup, budget policy coordination for 2026, the international role of the euro, Bulgaria’s adoption of the euro, the digital euro and EIB’s initiatives to support the savings and investment union.

    MIL OSI Europe News –

  • MIL-OSI Africa: Bulgarian President Meets Minister of State for Foreign Affairs

    Source: Government of Qatar

    Sofia, July 07, 2025

    HE President of the Republic of Bulgaria Rumen Radev met with HE Minister of State for Foreign Affairs Sultan bin Saad Al Muraikhi.

    At the outset of the meeting, HE the Minister of State for Foreign Affairs conveyed the greetings of HH the Amir Sheikh Tamim bin Hamad Al-Thani to HE the President of the Republic of Bulgaria along with His Highness’ wishes of good health and happiness for His Excellency, and continued progress and prosperity for the people of Bulgaria.

    For his part, HE the President of the Republic of Bulgaria entrusted HE the Minister of State for Foreign Affairs with his greetings to HH the Amir, wishing His Highness good health and happiness, and further development and growth for the Qatari people.

    The meeting discussed bilateral cooperation relations and ways to enhance and develop them, in addition to a host of topics of common interest.

    MIL OSI Africa –

  • MIL-OSI Europe: Press release – Metsola: “We continue to keep the memories of the victims of Srebrenica alive”

    Source: European Parliament

    President Metsola led members in remembering the victims of the Srebrenica genocide at the opening of the July plenary session in Strasbourg.

    30th anniversary of the Srebrenica genocide

    After opening the session, President Metsola led members in commemorating the 1995 Srebrenica genocide, where thousands of Bosnian Muslims were murdered or disappeared, and tens of thousands more were forcibly expelled from the enclave. Tragically many victims remain unidentified. MEPs paid homage to two survivors of the massacre, Lamasa and Almir Salihović, who were present in the hemicycle. “This House honours you and all survivors, just as we continue to keep the memories of the victims alive”, Metsola said. She went on to quote the words of the Srebrenica Prayer recited every year; “May mothers’ tears become prayers that Srebrenica never happens again”.

    Possible fast-tracking of European Climate Law revision

    The President announced a request by the Greens/EFA Group to apply the urgent procedure under Rule 170(5) of Parliament’s Rules of Procedure to the revision of the European Climate Law. The vote will take place on Tuesday.

    MEPs to debate alleged misuse of EU funds by members of the far right

    Statements on the alleged misuse of EU funds by members of the far right and measures to ensure institutional integrity are added as a fifth point on Wednesday afternoon, after the debate on stockpiling strategies. As a consequence, Wednesday’s sitting will be extended until 23:00.

    Requests by several committees to start negotiations with Council and Commission

    The Committees on Budgets, Economic and Monetary Affairs, Transport, Legal Affairs, Employment and Regional Development have decided to enter into interinstitutional negotiations, pursuant to Rule 72, paragraph 1 of the Rules of procedure, on the basis of the reports available on the plenary website.

    MIL OSI Europe News –

  • MIL-OSI Europe: Agenda – Wednesday, 9 July 2025 – Strasbourg

    Source: European Parliament

    88 Objection pursuant to Rule 114(3): amending Delegated Regulation (EU) 2016/1675 to add certain countries to the list of high-risk third countries, and to remove other countries from that list     – Amendments Friday, 4 July 2025, 12:00 83 Objection pursuant to Rule 115(2) and (3): Deforestation Regulation – list of countries presenting a low or high risk     – Amendments Friday, 4 July 2025, 12:00 25 Amending Regulation (EU) No 1026/2012 on certain measures for the purpose of the conservation of fish stocks in relation to countries allowing non-sustainable fishing
    Thomas Bajada (A10-0070/2025)      – Amendments; rejection Wednesday, 2 July 2025, 13:00 48 Draft amending budget no 1/2025: entering the surplus of the financial year 2024
    Victor Negrescu (A10-0116/2025)      – Amendments Wednesday, 2 July 2025, 13:00 52 Mobilisation of the European Union Solidarity Fund: assistance to Austria, Poland, Czechia, Slovakia and Moldova relating to floods that occurred in September 2024 and Bosnia and Herzegovina relating to floods that occurred in October 2024
    Andrzej Halicki (A10-0114/2025)      – Amendments Wednesday, 2 July 2025, 13:00 53 Mobilisation of the European Globalisation Adjustment Fund: Application EGF/2025/000 TA 2025 – Technical assistance at the initiative of the Commission
    Jean-Marc Germain (A10-0115/2025)      – Amendments Wednesday, 2 July 2025, 13:00 27 Product safety and regulatory compliance in e-commerce and non-EU imports
    Salvatore De Meo (A10-0133/2025)      – Amendments by the rapporteur, 71 MEPs at least; Alternative motions for resolutions Thursday, 3 July 2025, 13:00 19 2023 and 2024 reports on Albania
    Andreas Schieder (A10-0106/2025)      – Amendments Wednesday, 2 July 2025, 13:00 18 2023 and 2024 reports on Bosnia and Herzegovina
    Ondřej Kolář (A10-0108/2025)      – Amendments Wednesday, 2 July 2025, 13:00 46 2023 and 2024 reports on North Macedonia
    Thomas Waitz (A10-0118/2025)      – Amendments Wednesday, 2 July 2025, 13:00 17 2023 and 2024 reports on Georgia
    Rasa Juknevičienė (A10-0110/2025)      – Amendments Wednesday, 2 July 2025, 13:00 28 Implementation and delivery of the Sustainable Development Goals in view of the 2025 High-Level Political Forum
    Robert Biedroń, Nikolas Farantouris (A10-0125/2025)      – Amendments by the rapporteur, 71 MEPs at least, Alternative motions for resolutions Wednesday, 2 July 2025, 13:00 60 The human cost of Russia’s war against Ukraine and the urgent need to end Russian aggression: the situation of illegally detained civilians and prisoners of war, and the continued bombing of civilians     – Motions for resolutions Wednesday, 2 July 2025, 13:00     – Amendments to motions for resolutions; joint motions for resolutions Friday, 4 July 2025, 12:00     – Amendments to joint motions for resolutions Friday, 4 July 2025, 13:00 80 Case of Ryan Cornelius in Dubai     – Motions for resolutions (Rule 150) Monday, 7 July 2025, 20:00     – Amendments to motions for resolutions; joint motions for resolutions (Rule 150) Wednesday, 9 July 2025, 13:00     – Amendments to joint motions for resolutions (Rule 150) Wednesday, 9 July 2025, 14:00 81 Arbitrary arrest and torture of Belgian-Portuguese researcher Joseph Figueira Martin in the Central African Republic     – Motions for resolutions (Rule 150) Monday, 7 July 2025, 20:00     – Amendments to motions for resolutions; joint motions for resolutions (Rule 150) Wednesday, 9 July 2025, 13:00     – Amendments to joint motions for resolutions (Rule 150) Wednesday, 9 July 2025, 14:00 82 Urgent need to protect religious minorities in Syria following the recent terrorist attack on Mar Elias Church in Damascus     – Motions for resolutions (Rule 150) Monday, 7 July 2025, 20:00     – Amendments to motions for resolutions; joint motions for resolutions (Rule 150) Wednesday, 9 July 2025, 13:00     – Amendments to joint motions for resolutions (Rule 150) Wednesday, 9 July 2025, 14:00 Separate votes – Split votes – Roll-call votes Texts put to the vote on Tuesday Friday, 4 July 2025, 12:00 Texts put to the vote on Wednesday Monday, 7 July 2025, 19:00 Texts put to the vote on Thursday Tuesday, 8 July 2025, 19:00 Motions for resolutions concerning debates on cases of breaches of human rights, democracy and the rule of law (Rule 150) Wednesday, 9 July 2025, 19:00

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Situation of children on summer camp programmes for children from the Romanian diaspora, stranded at the border with Ukraine – P-002714/2025

    Source: European Parliament

    Priority question for written answer  P-002714/2025
    to the Commission
    Rule 144
    Gheorghe Cârciu (S&D)

    Every year, the Romanian Government organises, through the Department for Romanians Everywhere (Departamentul pentru Românii de Pretutindeni), which it finances, summer camp programmes for children from the Romanian diaspora, so as to preserve the national cultural identity by promoting education in Romanian and furthering knowledge of Romanian culture.

    This year, some 7 000 Romanian children and young people from the diaspora are expected to participate in cultural and educational activities under the Tabere Arc Programme, with over 5 000 of those children coming from historical Romanian communities in Ukraine, Moldova, Hungary, Albania and Serbia.

    On 1 July 2025, 200 children from Ukraine waited eight hours at the border between Ukraine and Romania (Porubne BCP) during a heatwave. Since this situation constituted a significant risk for the health of minors, can the Commission state:

    • 1.What steps can be taken to ensure that all Europeans crossing the border are awarded priority, and especially European children travelling in organised groups from a country outside the EU into the Member States, or vice versa?
    • 2.How it ensures that the authorities in the Member States cooperate effectively to prevent bottlenecks of this kind from occurring?

    Submitted: 2.7.2025

    Last updated: 7 July 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Agenda – Tuesday, 8 July 2025 – Strasbourg

    Source: European Parliament

    84 Tackling China’s critical raw materials export restrictions     – Motions for resolutions Monday, 7 July 2025, 19:00     – Amendments to motions for resolutions; joint motions for resolutions Wednesday, 9 July 2025, 12:00     – Amendments to joint motions for resolutions Wednesday, 9 July 2025, 13:00     – Requests for “separate”, “split” and “roll-call” votes Wednesday, 9 July 2025, 19:00 55 The role of gas storage for securing gas supplies ahead of the winter season
    Borys Budka (A10-0079/2025)      – Amendments; rejection Wednesday, 2 July 2025, 13:00 39 Temporary derogation from certain provisions of Regulations (EU) 2017/2226 and (EU) 2016/399
    Assita Kanko (A10-0082/2025)      – Amendments; rejection Wednesday, 2 July 2025, 13:00 30 EU-Greenland and Denmark Sustainable Fisheries Partnership Agreement: Implementing Protocol 2025-2030 (Resolution)
    Emma Fourreau (A10-0103/2025)      – Amendments Wednesday, 2 July 2025, 13:00 23 Financial activities of the European Investment Bank – annual report 2024
    Francisco Assis (A10-0112/2025)      – Amendments Wednesday, 2 July 2025, 13:00 44 Security of energy supply in the EU
    Beata Szydło (A10-0121/2025)      – Amendments by the rapporteur, 71 MEPs at least; Alternative motions for resolutions Wednesday, 2 July 2025, 13:00 19 2023 and 2024 reports on Albania
    Andreas Schieder (A10-0106/2025)      – Amendments Wednesday, 2 July 2025, 13:00 18 2023 and 2024 reports on Bosnia and Herzegovina
    Ondřej Kolář (A10-0108/2025)      – Amendments Wednesday, 2 July 2025, 13:00 46 2023 and 2024 reports on North Macedonia
    Thomas Waitz (A10-0118/2025)      – Amendments Wednesday, 2 July 2025, 13:00 17 2023 and 2024 reports on Georgia
    Rasa Juknevičienė (A10-0110/2025)      – Amendments Wednesday, 2 July 2025, 13:00 Separate votes – Split votes – Roll-call votes Texts put to the vote on Tuesday Friday, 4 July 2025, 12:00 Texts put to the vote on Wednesday Monday, 7 July 2025, 19:00 Texts put to the vote on Thursday Tuesday, 8 July 2025, 19:00 Motions for resolutions concerning debates on cases of breaches of human rights, democracy and the rule of law (Rule 150) Wednesday, 9 July 2025, 19:00

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Ban on the export of live animals from Romania to the EU – P-002708/2025

    Source: European Parliament

    Priority question for written answer  P-002708/2025
    to the Commission
    Rule 144
    Diana Iovanovici Şoşoacă (NI)

    Peste des petits ruminants (Ovine Rinderpest) is a viral disease that affects ruminants, sheep and goats, but does not affect humans, if and where it is present.

    After applying initial restrictions to Romania, the Commission recently announced the extension of the ban on exports of live animals from Romania to the EU, including their transit through EU countries, although there is no evidence to support this.

    I should point out that, in November 2024, I warned of a violation of Romanian law, the absence of the disease, and abuses of power by the authorities, and that, following my actions, Romania and the Commission decided not to apply any sanctions. However, the Romanian authorities have slaughtered around 600 000 sheep without any evidence for doing this, which is ruining Romanian farmers.

    If this peste is present, it has come from Ukraine because there are no checks on goods transiting Romania from Ukraine.

    • 1.What criteria underpin this decision, bearing in mind there is no official information on research into this disease in Romania? Might it not be that the aim is to ruin Romanian farmers?
    • 2.What criteria have been used to determine the size of the restricted area, protection area and monitoring area, in which farmers are prohibited from exporting live animals to other EU countries, even if no relevant research has been conducted into the disease, unlike in the other Member States?

    Submitted: 2.7.2025

    Last updated: 7 July 2025

    MIL OSI Europe News –

  • MIL-OSI Africa: Minister of State for Foreign Affairs Meets Bulgarian Foreign Minister

    Source: Government of Qatar

    Sofia, July 7, 2025

    HE Minister of State for Foreign Affairs, Sultan bin Saad Al Muraikhi met here on Monday with HE Minister of Foreign Affairs of the Republic of Bulgaria, Georg Georgiev.

    Discussion during the meeting, focused on cooperation relations between the two countries and ways to support and develop them, in addition to a host of topics of mutual interest.

    MIL OSI Africa –

  • MIL-OSI Africa: Qatar, Bulgaria Hold Round of Political Consultation

    Source: Government of Qatar

    Sofia, July 7, 2025

    A round of political consultations between the Ministries of Foreign Affairs of the State of Qatar and the Republic of Bulgaria was held in Sofia today.

    HE Minister of State for Foreign Affairs, Sultan bin Saad Al-Muraikhi headed the Qatari side, while HE Bulgarian side was headed by HE Deputy Minister of Foreign Affairs Maria Angelieva.

    The political consultations round dealt with cooperation relations between the two countries and ways to support and enhance them, in addition to a host of topics of common interest.

    MIL OSI Africa –

  • MIL-OSI Asia-Pac: HKETO Berlin Supports Berlin CityCup Dragon Boat Races (with photos)

    Source: Hong Kong Government special administrative region

    The Hong Kong Economic and Trade Office in Berlin (HKETO Berlin) supported the 26th Berlin CityCup dragon boat races on July 5 and 6 (Berlin time).
     
    The event saw enthusiastic participation with a total of more than 1 000 racers joined the competition. As one of the highlights of the CityCup, 60 teams joined the Hong Kong Cup sponsored by the HKETO Berlin on July 5. The Acting Director of HKETO Berlin, Mr Billy Leung, presented trophies to the winning teams after the race.
     
    “In Chinese culture, dragon signifies strength, courage, and resilience. Today, dragon boat racers from diverse cultural backgrounds have showed the power of teamwork and fighting spirit together.” Mr Leung said.
     
    Mr Leung added that Hong Kong possesses world-class sports, cultural and recreational facilities. With the opening of Kai Tak Sports Park in this March, a series of mega sports events as well as concerts have been held. 
     
    HKETO Berlin also set up a promotional booth at the race venue to showcase Hong Kong’s forthcoming major events, and promote Hong Kong’s advantages as an ideal place for work and study.

    About HKETO Berlin
     
    HKETO Berlin is the official representative of the Hong Kong Special Administrative Region Government in commercial relations and other economic and trade matters in Germany as well as Austria, Czechia, Hungary, Poland, the Slovak Republic, Slovenia and Switzerland.
     

    MIL OSI Asia Pacific News –

  • MIL-OSI Russia: “HSE stands out for its academic reputation, international environment and approach to teaching”

    Translation. Region: Russian Federal

    Source: State University “Higher School of Economics” –

    An important disclaimer is at the bottom of this article.

    © Higher School of Economics

    This year Center for the preparation of foreign students HSE University is turning 10 years old. Applicants from other countries take a year-long course here to prepare for admission to Russian universities. HSE teachers help future students gain the knowledge and skills necessary to successfully master a higher education program in Russia.

    Many graduates of the center choose to enroll in the Higher School of Economics, and some later become its employees.

    As part of the annual course, the center’s students can study Russian, get to know Russian culture and traditions better, and attend seminars on thematic subjects: mathematics, physics, computer science, literature, history, social studies, and others. Upon completion of the program, the center’s graduates have the opportunity to receive a discount on tuition fees at the National Research University Higher School of Economics.

    Graduates of the Center for the Preparation of Foreign Students told Vyshka.Glavnoe about their decision to come to Russia and study at the Higher School of Economics.

    Nemanja Stepanov, graduate of the Master’s programInternational Relations: European and Asian Studies» HSE, analyst Center for Mediterranean Studies HSE

    Why am I here?

    — I came from Serbia, from Belgrade, because I wanted to study international relations, especially relations between Serbia and Russia, as well as Russian policy in South-Eastern Europe. Historical relations between our countries have been good, the people of Serbia perceive Russia as the most reliable ally and consider Russians a brotherly people, but they do not fully understand the specifics of Russia and Russian policy. That is why I came here to study this area.

    About preparation for admission

    — A professor from Serbia recommended HSE to me, and I applied. Before entering the first year of the master’s program, I had to learn Russian, because the program was in Russian, so I arrived a year earlier and entered the Center for the Preparation of Foreign Students. At first, we studied only Russian, then they began to distribute us according to the specialties that we planned to study in the future.

    I can’t say it was difficult to learn the language, but it was intense. Serbian is a Slavic language, so it was easier for me than for others whose native language is not in this group. But sometimes it was a problem: for example, the same word can mean different things in Serbian and Russian.

    About studying at HSE

    — After my master’s degree, I entered postgraduate studies, so I am now in my second year of postgraduate studies. I began collaborating with the Center for Mediterranean Studies on various projects from my first year of master’s studies. At the moment, I am working under the supervision of Ekaterina Gennadyevna Entina, who was my academic supervisor in my master’s degree and is now in postgraduate studies. For me, HSE is an opportunity to work in a field that interests me, with good people.

    Sachin Malhotra, a student of the Master’s programData Science» HSE, Head of the Commission HSE Student Council for work with foreign students

    About moving to Russia and HSE

    — I am from India, from the city of Agra, famous for its Taj Mahal. I chose Russia and HSE because I was looking for a quality education in Data Science. HSE has a strong academic reputation, an international environment, and a modern approach to teaching. I also wanted to experience another culture and challenge myself by learning a new language and being in an unfamiliar environment.

    About the Center for the Preparation of Foreign Students

    — I decided to take a preparatory year at HSE to gain at least a level of Russian that would be sufficient for everyday communication. This is critical for any international student, especially since many people outside of the university do not speak English. As part of the program, I studied Russian, both grammar and conversation, as well as mathematics and history. This gave me the opportunity to build a solid foundation in the language that I used not only in the classroom but also in everyday life. The program also gave me the chance to meet students from different countries, some of whom became my close friends.

    About the Russian language

    — I have been studying Russian for two years now — one year as part of the preparatory year and one year as a Master’s student. At first, it was quite difficult. Russian itself is a challenge, and the academic standards at HSE are very high, which also pushed me to improve the language. But in the end, this environment contributed to my growth not only in the language, but also in my academic performance in general. It made me more confident and prepared for university life in Russia.

    After the preparatory year

    — Afterwards, I enrolled in the Master’s program in Data Science at HSE. The academic experience was intense. The program is well-structured, combining theoretical knowledge with practical skills in machine learning, programming, and statistical analysis. The teachers are highly qualified, and the international environment facilitates collaboration and exchange of experience with like-minded people. Although sometimes challenging, this experience significantly deepened my understanding of data science and prepared me for future professional challenges.

    Nevena Boskovic, graduate of the Master’s programInternational Relations: European and Asian Studies» HSE University

    About admission to HSE and studies

    — I am from Belgrade, Serbia. I moved to Moscow in January 2021. I made this decision thanks to the Russian House in Belgrade. I had an idea to study Russian, and when I visited the Russian House, I learned about the possibility of receiving a scholarship from the Ministry of Education and Science of the Russian Federation. I was interested in the International Relations program, and the Russian House staff suggested that I enroll in Faculty of World Economy and World Politics at the HSE.

    I thought that studying would be very difficult and it would be hard to adapt. But it turned out that HSE has magical teachers who have a lot of knowledge and from whom I took a lot for myself. I would especially like to mention the wonderful teacher Dmitry Vyacheslavovich Suslov and my scientific supervisor Ekaterina Gennadyevna Entina: they encouraged me during the writing and defense of my master’s thesis.

    About adaptation

    — It is important for every foreign student to adapt and understand the language in a foreign country. The Center for the Preparation of Foreign Students helped me a lot, and I easily learned the basics of Russian. In addition, I studied Russian culture, literature, and history. All this is important to understand another nation.

    About the Russian language

    — For the first six months, I studied it online from Serbia (there was a pandemic at the time), and then I moved to Moscow and continued studying it. I can say that I managed to learn the language in a year. Of course, it was much easier for me because Russians and Serbs are Slavic peoples, we have many similar words.

    I wanted to learn the language well, and so I chose a program in Russian at the faculty: lectures, presentations, exams, and the master’s thesis itself were in Russian. I believe that I succeeded in all this thanks to a good language teacher and a good program at the Center for the Preparation of Foreign Students.

    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: BSTDB Backs AEGEAN’s Bond Issue with EUR 15 million Investment

    Source: Black Sea Trade and Development Bank

    Press Release | 07-Jul-2025

    Supporting fleet renewal and tourism sector growth in Greece

    The Black Sea Trade and Development Bank (BSTDB) subscribed EUR 15 million in the second bond issued by Aegean Airlines S.A. (AEGEAN), Greece’s national flag carrier. The EUR 250 million bond issue is earmarked towards the financing of the airlines’ fleet renewal program, including the acquisition of new, energy-efficient aircraft equipped with extended range capabilities and high-comfort configurations and also working capital requirements.

    The BSTDB funding aims to strengthen AEGEAN’s competitive position in the region, enhance Greece’s connectivity, and generate broad economic benefits across the tourism and infrastructure sectors—two of the most dynamic pillars of the Greek economy.

    This marks BSTDB’s second investment in AEGEAN, following its participation in the company’s debut bond issue in 2019. The continued partnership underscores BSTDB’s commitment to supporting Greece’s strategic enterprises and sustainable development objectives.

    “Our investment in AEGEAN reflects our confidence in the company’s vision and the vital role it plays in strengthening regional connectivity and economic resilience,” said Dr. Serhat Köksal, President of BSTDB. “By supporting fleet modernisation and energy efficiency, we are contributing to both climate goals and long-term growth in a sector central to Greece’s economy.”

    “We are grateful to BSTDB support and participation in our recent bond issuance, and we remain committed to honoring that trust as we continue to execute our strategy,” said Mr. Dimitris Gerogiannis, CEO of AEGEAN. “Our second bond issuance marks an important milestone for AEGEAN, not only purely on the grounds of the financial success of the transaction but primarily because it comes at a time when our Company is much stronger than our debut issue in 2019 in all aspects of network coverage, financial performance and overall contribution to the Greek economy, after being able to navigate one of the most severe crisis in our industry. We welcome BSTDB participation to this important milestone and we look forward to further strengthening our relationship”.

     

    AEGEAN operates a fleet of 85 aircraft and provides scheduled, chartered, and cargo services across 158 short and medium haul destinations. Listed on the Athens Stock Exchange since 2007 with a market capitalisation of EUR 1.18 billion, AEGEAN is considered one of Greece’s blue chip corporates. It has been a member of Star Alliance since 2010 and has been consistently recognised as Europe’s Best Regional Airline by Skytrax, receiving the distinction 14 years in a row. For more details: www.aegeanair.com

    The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.

     

    Contact: Haroula Christodoulou

    : @BSTDB

    MIL OSI Economics –

  • MIL-OSI Economics: BSTDB Backs AEGEAN’s Bond Issue with EUR 15 million Investment

    Source: Black Sea Trade and Development Bank

    Press Release | 07-Jul-2025

    Supporting fleet renewal and tourism sector growth in Greece

    The Black Sea Trade and Development Bank (BSTDB) subscribed EUR 15 million in the second bond issued by Aegean Airlines S.A. (AEGEAN), Greece’s national flag carrier. The EUR 250 million bond issue is earmarked towards the financing of the airlines’ fleet renewal program, including the acquisition of new, energy-efficient aircraft equipped with extended range capabilities and high-comfort configurations and also working capital requirements.

    The BSTDB funding aims to strengthen AEGEAN’s competitive position in the region, enhance Greece’s connectivity, and generate broad economic benefits across the tourism and infrastructure sectors—two of the most dynamic pillars of the Greek economy.

    This marks BSTDB’s second investment in AEGEAN, following its participation in the company’s debut bond issue in 2019. The continued partnership underscores BSTDB’s commitment to supporting Greece’s strategic enterprises and sustainable development objectives.

    “Our investment in AEGEAN reflects our confidence in the company’s vision and the vital role it plays in strengthening regional connectivity and economic resilience,” said Dr. Serhat Köksal, President of BSTDB. “By supporting fleet modernisation and energy efficiency, we are contributing to both climate goals and long-term growth in a sector central to Greece’s economy.”

    “We are grateful to BSTDB support and participation in our recent bond issuance, and we remain committed to honoring that trust as we continue to execute our strategy,” said Mr. Dimitris Gerogiannis, CEO of AEGEAN. “Our second bond issuance marks an important milestone for AEGEAN, not only purely on the grounds of the financial success of the transaction but primarily because it comes at a time when our Company is much stronger than our debut issue in 2019 in all aspects of network coverage, financial performance and overall contribution to the Greek economy, after being able to navigate one of the most severe crisis in our industry. We welcome BSTDB participation to this important milestone and we look forward to further strengthening our relationship”.

     

    AEGEAN operates a fleet of 85 aircraft and provides scheduled, chartered, and cargo services across 158 short and medium haul destinations. Listed on the Athens Stock Exchange since 2007 with a market capitalisation of EUR 1.18 billion, AEGEAN is considered one of Greece’s blue chip corporates. It has been a member of Star Alliance since 2010 and has been consistently recognised as Europe’s Best Regional Airline by Skytrax, receiving the distinction 14 years in a row. For more details: www.aegeanair.com

    The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.

     

    Contact: Haroula Christodoulou

    : @BSTDB

    MIL OSI Economics –

  • MIL-OSI Economics: Kevin Greenidge: Driving instant payments in the Caribbean – a shared vision

    Source: Bank for International Settlements

    Good morning to all of you.

    It is my great pleasure to welcome you to the Courtney Blackman Grande Salle of the Central Bank of Barbados for the Fast Payments Systems Workshop for Caribbean Countries. We are truly honoured to host this meeting of the minds as we advance our domestic payments infrastructure to be more inclusive, efficient, and resilient.

    This workshop comes at a crucial juncture for the Central Bank of Barbados as we are onboarding a national instant payments system in Barbados, with the power to catalyse the payments landscape. Rolling out this national instant payment system will integrate our payments network; promote real-time settlement for retail, wholesale, e-government, and securities payments; empower micro and small businesses; support greater system transparency and security, standardisation, and interoperability; and lower transaction and operating costs, as well as settlement times, all while promoting financial inclusion. 

    Across the globe, central banks are leading the most successful implementations of faster payment systems. These efforts are ensuring that national payments systems are safe, efficient, and accessible to all-especially the underserved and unbanked. As a central bank, we have the responsibility to provide this instant payment system as a public good, which will not only keep pace with innovation, but will also benefit our citizens, our financial sector, the economy as a whole, and our future. 

    As we at the Central Bank of Barbados are embarking on this journey, we are placing strong emphasis on meeting international standards, while achieving interoperability, built on a solid foundation of robust governance, and strong cybersecurity mechanisms. We are eager to learn from our regional partners’ experiences and align ourselves with global best practices to shape an instant payments ecosystem that works for our unique context.

    The workshop agenda over the next two days is both rich and relevant, allowing us to dive deep into the world of Instant Payment Systems. We will examine design principles, governance models, implementation strategies, and operational challenges. We will also explore the integration of overlay services, discuss cybersecurity risks, and consider the potential for cross-border applications. Importantly, we will also hear directly from central banks that have walked this path and have lessons to share with us.

    We at the Central Bank of Barbados now have an incredible opportunity before us; to learn from global experts, like our partners joining us from the World Bank and the National Bank of Serbia, examine the experiences of other jurisdictions, and explore just what it takes to successfully implement a faster payments network in Barbados. This workshop is not only timely-it is imperative. We now exist in a world where consumers and businesses expect instantaneous results in every aspect of their digital lives; payments cannot lag behind. Faster payments are no longer a luxury or a future possibility-they are the new standard. 

    So, I encourage everyone here to contribute actively to the discussions-to ask the tough questions, and to share your own insights and guidance. Let this be a collaborative space where we not only build knowledge, but build momentum as we continue the rollout of our national instant payments system.

    I want to express my sincerest gratitude to our partners at the World Bank, whose support and keen technical expertise have been invaluable to the progress of this payments initiative thus far. I also acknowledge and thank my fellow regional central bank governors for their leadership, commitment, and willing collaboration as we move forward in this space.

    As we embark on these two days of discussion and discovery, let us remember that faster payments are not just about technology, they are about creating systems that serve people better. They are about making our financial systems and economies more agile, our businesses more competitive, and our societies more inclusive, and our ultimate aim is to implement faster payments systems for all Caribbean countries. 

    Let us lead this transformation together-with purpose, with partnership, and with the public good at heart.

    Thank you, and I look forward to the vibrant exchange of ideas that lies ahead.

    MIL OSI Economics –

  • MIL-OSI Economics: Kevin Greenidge: Driving instant payments in the Caribbean – a shared vision

    Source: Bank for International Settlements

    Good morning to all of you.

    It is my great pleasure to welcome you to the Courtney Blackman Grande Salle of the Central Bank of Barbados for the Fast Payments Systems Workshop for Caribbean Countries. We are truly honoured to host this meeting of the minds as we advance our domestic payments infrastructure to be more inclusive, efficient, and resilient.

    This workshop comes at a crucial juncture for the Central Bank of Barbados as we are onboarding a national instant payments system in Barbados, with the power to catalyse the payments landscape. Rolling out this national instant payment system will integrate our payments network; promote real-time settlement for retail, wholesale, e-government, and securities payments; empower micro and small businesses; support greater system transparency and security, standardisation, and interoperability; and lower transaction and operating costs, as well as settlement times, all while promoting financial inclusion. 

    Across the globe, central banks are leading the most successful implementations of faster payment systems. These efforts are ensuring that national payments systems are safe, efficient, and accessible to all-especially the underserved and unbanked. As a central bank, we have the responsibility to provide this instant payment system as a public good, which will not only keep pace with innovation, but will also benefit our citizens, our financial sector, the economy as a whole, and our future. 

    As we at the Central Bank of Barbados are embarking on this journey, we are placing strong emphasis on meeting international standards, while achieving interoperability, built on a solid foundation of robust governance, and strong cybersecurity mechanisms. We are eager to learn from our regional partners’ experiences and align ourselves with global best practices to shape an instant payments ecosystem that works for our unique context.

    The workshop agenda over the next two days is both rich and relevant, allowing us to dive deep into the world of Instant Payment Systems. We will examine design principles, governance models, implementation strategies, and operational challenges. We will also explore the integration of overlay services, discuss cybersecurity risks, and consider the potential for cross-border applications. Importantly, we will also hear directly from central banks that have walked this path and have lessons to share with us.

    We at the Central Bank of Barbados now have an incredible opportunity before us; to learn from global experts, like our partners joining us from the World Bank and the National Bank of Serbia, examine the experiences of other jurisdictions, and explore just what it takes to successfully implement a faster payments network in Barbados. This workshop is not only timely-it is imperative. We now exist in a world where consumers and businesses expect instantaneous results in every aspect of their digital lives; payments cannot lag behind. Faster payments are no longer a luxury or a future possibility-they are the new standard. 

    So, I encourage everyone here to contribute actively to the discussions-to ask the tough questions, and to share your own insights and guidance. Let this be a collaborative space where we not only build knowledge, but build momentum as we continue the rollout of our national instant payments system.

    I want to express my sincerest gratitude to our partners at the World Bank, whose support and keen technical expertise have been invaluable to the progress of this payments initiative thus far. I also acknowledge and thank my fellow regional central bank governors for their leadership, commitment, and willing collaboration as we move forward in this space.

    As we embark on these two days of discussion and discovery, let us remember that faster payments are not just about technology, they are about creating systems that serve people better. They are about making our financial systems and economies more agile, our businesses more competitive, and our societies more inclusive, and our ultimate aim is to implement faster payments systems for all Caribbean countries. 

    Let us lead this transformation together-with purpose, with partnership, and with the public good at heart.

    Thank you, and I look forward to the vibrant exchange of ideas that lies ahead.

    MIL OSI Economics –

  • MIL-OSI Economics: Kevin Greenidge: Driving instant payments in the Caribbean – a shared vision

    Source: Bank for International Settlements

    Good morning to all of you.

    It is my great pleasure to welcome you to the Courtney Blackman Grande Salle of the Central Bank of Barbados for the Fast Payments Systems Workshop for Caribbean Countries. We are truly honoured to host this meeting of the minds as we advance our domestic payments infrastructure to be more inclusive, efficient, and resilient.

    This workshop comes at a crucial juncture for the Central Bank of Barbados as we are onboarding a national instant payments system in Barbados, with the power to catalyse the payments landscape. Rolling out this national instant payment system will integrate our payments network; promote real-time settlement for retail, wholesale, e-government, and securities payments; empower micro and small businesses; support greater system transparency and security, standardisation, and interoperability; and lower transaction and operating costs, as well as settlement times, all while promoting financial inclusion. 

    Across the globe, central banks are leading the most successful implementations of faster payment systems. These efforts are ensuring that national payments systems are safe, efficient, and accessible to all-especially the underserved and unbanked. As a central bank, we have the responsibility to provide this instant payment system as a public good, which will not only keep pace with innovation, but will also benefit our citizens, our financial sector, the economy as a whole, and our future. 

    As we at the Central Bank of Barbados are embarking on this journey, we are placing strong emphasis on meeting international standards, while achieving interoperability, built on a solid foundation of robust governance, and strong cybersecurity mechanisms. We are eager to learn from our regional partners’ experiences and align ourselves with global best practices to shape an instant payments ecosystem that works for our unique context.

    The workshop agenda over the next two days is both rich and relevant, allowing us to dive deep into the world of Instant Payment Systems. We will examine design principles, governance models, implementation strategies, and operational challenges. We will also explore the integration of overlay services, discuss cybersecurity risks, and consider the potential for cross-border applications. Importantly, we will also hear directly from central banks that have walked this path and have lessons to share with us.

    We at the Central Bank of Barbados now have an incredible opportunity before us; to learn from global experts, like our partners joining us from the World Bank and the National Bank of Serbia, examine the experiences of other jurisdictions, and explore just what it takes to successfully implement a faster payments network in Barbados. This workshop is not only timely-it is imperative. We now exist in a world where consumers and businesses expect instantaneous results in every aspect of their digital lives; payments cannot lag behind. Faster payments are no longer a luxury or a future possibility-they are the new standard. 

    So, I encourage everyone here to contribute actively to the discussions-to ask the tough questions, and to share your own insights and guidance. Let this be a collaborative space where we not only build knowledge, but build momentum as we continue the rollout of our national instant payments system.

    I want to express my sincerest gratitude to our partners at the World Bank, whose support and keen technical expertise have been invaluable to the progress of this payments initiative thus far. I also acknowledge and thank my fellow regional central bank governors for their leadership, commitment, and willing collaboration as we move forward in this space.

    As we embark on these two days of discussion and discovery, let us remember that faster payments are not just about technology, they are about creating systems that serve people better. They are about making our financial systems and economies more agile, our businesses more competitive, and our societies more inclusive, and our ultimate aim is to implement faster payments systems for all Caribbean countries. 

    Let us lead this transformation together-with purpose, with partnership, and with the public good at heart.

    Thank you, and I look forward to the vibrant exchange of ideas that lies ahead.

    MIL OSI Economics –

  • MIL-OSI China: US dominate Germany to claim FIBA U19 World Cup title

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

    The United States reclaimed the FIBA U19 Basketball World Cup crown in emphatic fashion on Sunday, overpowering Germany 109-76 in the championship game.

    The victory marks Team USA’s record-extending ninth title in the tournament’s history.

    Fueled by a dominant performance throughout the competition, Team USA capped a perfect 7-0 run, setting a new tournament record for points per game with an average of 114.6.

    USA’s AJ Dybantsa was named the Most Valuable Player of the tournament. He contributed 11 points, six rebounds and two assists in the final, averaging 14.3 points, 4.1 rebounds, 2.3 assists and 1.1 steals per game.

    Despite their overall dominance, the USA faced a significant test in the quarterfinals, narrowly overcoming Canada by just six points. They responded with a resounding 56-point semifinal win over New Zealand to reach the final.

    Germany, making its first-ever appearance in the U19 World Cup medal rounds and ultimately securing silver, started strong in the final with a 16-9 lead.

    The USA regrouped with a 15-7 run to seize the lead and entered halftime with a nine-point advantage. Any hopes of a German comeback were extinguished immediately after the break, as the Americans unleashed a 22-2 surge. Germany, the European U18 champions, could not recover from the deficit.

    Six American players scored in double figures, led by Morez Johnson with 15 points.

    In the bronze medal game, Slovenia defeated New Zealand 91-87 to secure third place.

    MIL OSI China News –

  • MIL-OSI: Capgemini to acquire WNS to create a global leader in Agentic AI-powered Intelligent Operations

    Source: GlobeNewswire (MIL-OSI)

    Media relations:
    Victoire Grux
    Tel.: +33 6 04 52 16 55
    victoire.grux@capgemini.com

    Investor relations:
    Vincent Biraud
    Tel.: +33 1 47 54 50 87
    vincent.biraud@capgemini.com

    Capgemini to acquire WNS to create a global leader in Agentic AI-powered Intelligent Operations

    • Creation of a leader in Intelligent Operations to capture enterprise investment in Agentic AI to transform their end-to-end business processes
    • Acquisition of a leading player in Digital BPS (Business Process Services) to combine capabilities and scale to address the strategic opportunity driven by Agentic AI
    • Transaction immediately accretive to Capgemini’s revenue growth and operating margin
    • Expected accretion to Capgemini’s normalized EPS of 4% before synergies in 2026, and 7% post-synergies in 2027
    • Definitive transaction agreement entered into pursuant to which Capgemini will acquire WNS for a cash consideration of 76.50 USD per share
    • Transaction unanimously approved by the board of directors of both companies and expected to close by the end of the year

    Paris, July 7, 2025 – Capgemini (Euronext Paris: CAP), a global business and technology transformation partner, and WNS (NYSE: WNS), a leading digital-led business transformation and services company, today announced that they have entered into a definitive transaction agreement pursuant to which Capgemini will acquire WNS for a cash consideration of 76.50 USD per WNS share, which represents a premium of 28% to the last 90-day average1 share price, of 27% to the last 30-day average1 share price and a premium of 17% to the last closing share price on July 3, 2025. The total cash consideration will amount to $3.3 billion, excluding WNS net financial debt2. The transaction will be accretive to Capgemini’s normalized EPS by 4% before synergies in 2026 and 7% post synergies in 2027. The transaction has been unanimously approved by both Capgemini’s and WNS’ Boards of Directors.

    “Enterprises are rapidly adopting Generative AI and Agentic AI to transform their operations end-to-end. Business Process Services will be the showcase for Agentic AI. Capgemini’s acquisition of WNS will provide the Group with the scale and vertical sector expertise to capture that rapidly emerging strategic opportunity created by the paradigm shift from traditional BPS to Agentic AI-powered Intelligent Operations,” comments Aiman Ezzat, Chief Executive Officer of Capgemini. “Together we will create a leader in Intelligent Operations, uniquely positioned to support organizations in their AI-powered business process transformation, blending the critical capabilities needed from consulting, technology and platforms to deep process and industry expertise. This will address the client needs for Agentic AI-driven process transformation to deliver efficiency and agility through hyper-automation while achieving superior business outcomes.

    WNS brings to the Group its high growth, margin accretive and resilient Digital Business Process Services, which is the springboard to Intelligent Operations, while further increasing our exposure to the US market. Immediate cross-selling opportunities will be unlocked through the integration of our complementary offerings and clients. I am looking forward to welcoming the WNS global team to Capgemini.”

    “As a recognized leader in the Digital Business Process Services space, we see the next wave of transformation being driven by intelligent, domain-centric operations that unlock strategic value for our clients. Organizations that have already digitized are now seeking to reimagine their operating models by embedding AI at the core—shifting from automation to autonomy,” said Keshav R. Murugesh, Chief Executive Officer of WNS. “By combining our deep domain and process expertise with Capgemini’s global reach, cutting-edge Gen AI and Agentic AI capabilities, a robust partner ecosystem, and advanced technology platforms, we are creating a powerful proposition that accelerates enterprise reinvention. WNS’ complementary portfolio of horizontal and industry-specific solutions will significantly enhance Capgemini’s rapidly growing Business Services footprint, enabling next-generation, data-driven operations across sectors. Just as importantly, our shared values, cultural alignment, and complementary client relationships ensure a seamless integration—unlocking exciting opportunities for innovation, co-creation, and growth across all stakeholder groups.”

    “WNS and Capgemini share a bold, future-focused vision for Intelligent Operations. I’m confident that Capgemini is the ideal partner at the right time in WNS’ journey to extend our capabilities, accelerate innovation, and establish a leadership position in this rapidly evolving market,” said Timothy L. Main, Chairman of WNS Board of Directors. “This marks a pivotal chapter in WNS’ growth—enhancing the resilience and agility of our clients through advanced AI-driven solutions, creating sustained value for our investors, and opening up new avenues for our employees to thrive within a global technology powerhouse.”

    WNS, a leader in the resilient high-growth and margin accretive Digital BPS market

    WNS is a leading and trusted business transformation and services partner that uniquely blends deep industry knowledge with business process management, technology, analytics and AI expertise to create market differentiation for clients. With digital-led transformation solutions deployed to clients across 8 industries where it deploys its highly automated platforms to deliver stronger business outcomes, WNS is a leader in Digital Business Process Services (BPS). This operating model enables strategic engagements that are critical to clients’ daily operations materialized in long-term contracts with recurring revenues streams. Through an expanded ecosystem of partners and network of delivery centers, WNS serves a large portfolio of blue-chip clients, such as3 United Airlines, Aviva, M&T Bank, Centrica and McCain Foods.

    The high-quality business model of WNS, supported by non-linear pricing models and superior profitability has driven a c.+9% constant currency revenue growth on average over the last 3 fiscal years4, to reach $1,266 million of revenue5 in fiscal year 20254 with an 18.7%6 operating margin.

    Global organizations are in constant need of strategic partners to support their transformation to enhance efficiency and accelerate growth. This continues to be a key driver of the Digital BPS market and WNS targets revenue growth of +7% to +11% for FY2026.

    Immediate unlocking of value

    This transaction will position Capgemini as a leader in Digital BPS blending horizontal and vertical process expertise, with a global footprint. With combined revenues of €1.9 billion in 2024 in Digital BPS, this will strengthen Capgemini’s ability to accompany clients on their business and technology transformation journeys.

    The mix of WNS and Capgemini’s complementary offerings and clients will immediately unlock cross-selling opportunities. It will also lay down the foundations to build the capabilities to seize the Intelligent Operations strategic market opportunity.

    Intelligent Operations – Agentic AI creates a paradigm shift that opens a strategic opportunity

    The largest opportunity for global organizations to create value with Gen AI and Agentic AI lies in the fundamental redesign of their operations and business processes. It will attract a significant share of their AI investments as they seek to become AI-powered companies to lead their market. This is creating demand for a new type of business process services: Intelligent Operations.

    Intelligent Operations answers these business needs, providing a consulting-led approach to transform and operate horizontal and vertical business processes leveraging Gen AI and Agentic AI. It addresses clients’ goal of efficiency, speed and agility through process hyper-automation, while significantly improving business outcomes by combining data, AI and digital.

    AI technologies trigger a paradigm shift in delivering business process services: from labor-intensive services to being consulting-led and tech-driven. In parallel, client focus has shifted from efficiency gains toward end-to-end value creation and business outcomes, opening opportunities to add non-linear revenues (i.e. transaction-based, subscription-based or outcome-based models). This is creating a rapidly growing market opportunity.

    Combining the capabilities and scale required to lead in Intelligent Operations

    Both Capgemini and WNS are already pioneering Intelligent Operations. Capgemini with its consulting-led end-to-end transformation of processes, advanced AI tools and technology stacks, and BPS platforms, while WNS has developed a set of sector-specific AI-led solutions recently augmented by the acquisition of Kipi.ai7 to strengthen its data, analytics and AI capabilities.

    The combination of Capgemini and WNS will act as a catalyst to lead in Intelligent Operations providing the required scale and unique set of capabilities from Strategy & Transformation consulting, to horizontal and sector expertise, platform offerings to deep AI and technology capabilities.

    This combination will also leverage the significant investments made by Capgemini in AI through training, offers and its 25 strategic partnerships, including Microsoft, Google, AWS, Mistral AI and NVIDIA. The Group’s leadership is recognized by its clients, with over €900 million of Gen AI bookings in 2024, and by market analysts such as Forrester, IDC and ISG.

    This transaction will reinforce Capgemini as a business and transformation partner to those enterprises who want to become AI-powered businesses.

    Value creation

    Based on calendar year 2024 published information, the combined entities would have generated a revenue of €23.3 billion at a 13.6% operating margin6 in 2024.

    The Group expects accretion to normalized EPS, before synergies from the combination, of 4% in 2026.

    Capgemini expects revenue synergies run-rate of €100 million to €140 million by the end of 2027. Costs and operating model synergies are anticipated to reach an annual pretax run-rate of between €50 million and €70 million by the end of 2027.

    With the benefits of these synergies, the accretion on normalized earnings per share should reach 7% in 2027.

    Smooth integration

    WNS and Capgemini have a natural cultural fit and share common values that will facilitate a smooth integration of the teams, helped by the Group’s track record of successful integrations. Furthermore, the integration will be straightforward into Capgemini’s Global Business Services activities.

    Key transaction terms and timeline

    The contemplated transaction will be implemented by way of a Court-sanctioned scheme of arrangement under the laws of Jersey. The transaction has been unanimously approved by both Capgemini’s and WNS’ Boards of Directors.

    The transaction is subject to approval by the Royal Court of Jersey and WNS’ shareholders, as well as to receipt of customary regulatory approvals and other conditions. The closing of the transaction is expected to occur by the end of the year.

    Full details of the terms and conditions of the transaction are set out in the transaction agreement, which may be obtained, free of charge, on the SEC’s website (http://www.sec.gov) when available, and WNS’ website at https://www.WNS.com.

    Financing

    Capgemini has secured a bridge financing of €4.0 billion, covering the purchase of securities ($3.3 billion), as well as the gross debt and similar obligations8 of around $0.4 billion and the €0.8 billion Capgemini bond redeemed in June 2025.

    The Group plans to refinance the bridge with available cash for around €1.0 billion and the balance by debt issuance.

    Q2 and H1 2025 performance

    The Group expects Q2 2025 year-on-year growth at constant currency to be slightly better than the -0.4% reported in Q1 2025. The Group also expects for H1 2025 the operating margin to be stable year-on-year at 12.4%.

    Due to the nature and timing of this announcement, the actual Q2 and H1 2025 performance may slightly differ from the above-mentioned expectations. H1 2025 publication will take place as planned on July 30, 2025.

    Outlook

    Capgemini’s financial targets for 2025 do not take into account this transaction and are therefore unchanged:

    • Revenue growth of -2.0% to +2.0% at constant currency;
    • Operating margin of 13.3% to 13.5%;
    • Organic free cash flow of around €1.9 billion.

    Conference call

    Aiman Ezzat, Chief Executive Officer, accompanied by Nive Bhagat, Chief Financial Officer, will comment on this announcement during two audio webcasts (in English only) to be held today:

    • at 8.00 a.m. Paris time (CET)
      • for “listen-only” participants: https://edge.media-server.com/mmc/p/npdpfjyy
        • for investors and financial analysts who wish to take part in the Q&A session, please pre-register on the following link to receive the dial-in information
    • and at 3.00 p.m. Paris time (CET)
      • for “listen-only” participants: https://edge.media-server.com/mmc/p/y5nk6iup
        • for investors and financial analysts who wish to take part in the Q&A session, please pre-register on the following link to receive the dial-in information

    Replays of both calls will be available, from the same links, shortly after the event and for a period of one year.

    All documents relating to this publication will be posted on the Capgemini investor website at https://investors.capgemini.com/en/.

    IMPORTANT NOTICE

    This announcement is for information purposes only and is not intended to and does not constitute or form part of, an offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities or the solicitation of any vote or approval in any jurisdiction in contravention of applicable law. In connection with the Transaction, WNS will provide to its shareholders and file with the U.S. Securities and Exchange Commission (the “SEC”) a circular relating to the Transaction (the “scheme document”) and may also file other documents with the SEC.

    The scheme document will contain the full terms and conditions of the Transaction, including details with respect to the WNS shareholder vote in respect of the Transaction and will be sent or otherwise disseminated to WNS’ shareholders and will contain important information about the Transaction and related matters. Any decision in respect of, or other response to, the Transaction should be made only on the basis of the information contained in the scheme document.

    SHAREHOLDERS OF WNS ARE ADVISED TO READ THE SCHEME DOCUMENT AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION.

    The scheme document and other relevant documents may be obtained, free of charge, on the SEC’s website (http://www.sec.gov), when available. WNS’ shareholders may obtain free copies of the scheme document once it is available from WNS by going to WNS’ website at https://www.wns.com.

    PARTICIPANTS IN THE SOLICITATION

    Capgemini, WNS and certain of their respective directors and officers may be deemed participants in the solicitation of proxies of WNS’ shareholders in connection with the Transaction. Additional information regarding the foregoing persons, including their direct and indirect interests, by security holdings or otherwise, will be set forth in the scheme document and other relevant documents to be filed with the SEC. WNS’ shareholders and other interested persons may obtain, without charge, more detailed information regarding the directors and officers of WNS in WNS’ periodic reports filed with the SEC available on WNS’ website at https://www.wns.com, and regarding the directors and officers of Capgemini in Capgemini’s most recent Universal Registration Document (Document d’Enregistrement Universel) available on Capgemini’s website (https://www.capgemini.com/us-en/).

    FORWARD LOOKING STATEMENTS

    Certain information in this announcement, as well as oral statements made regarding the Transaction, and other information published by WNS, Capgemini or any member of the Capgemini Group contain statements which are, or may be deemed to be “forward-looking statements”, including, but not limited to, the acceleration of Capgemini and WNS’ growth and the value-additive nature of the Transaction for Capgemini shareholders. The words “anticipates”, “expects”, “believes”, “intends, “estimates”, “plans”, “projects”, “may”, “would”, “will”, “should”, “continue”, or the negative of these terms and similar expressions are intended to identify forward-looking statements. Such forward looking statements are prospective in nature and are not based on historical facts, but rather on current expectations and on numerous assumptions regarding the business strategies and the environment in which Capgemini, any member of the Capgemini Group, including WNS and its subsidiaries following the Transaction (“Post-Transaction Group”) shall operate in the future and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by those statements. The forward looking statements contained in this announcement relate to Capgemini, any member of the Capgemini Group or the Post-Transaction Group’s future prospects, developments and business strategies, the expected timing and scope of the Transaction and other statements other than historical facts. For a discussion of some of the risks and important factors that could affect such forward-looking statements, please refer, without limitations, to the risks identified in Capgemini’s most recent Universal Registration Document (Document d’Enregistrement Universel) available on Capgemini’s website (https://www.capgemini.com/us-en/). Factors which could have a material adverse effect on the Company’s operations and future prospects include, but are not limited to, the following risks relating to the Transaction, including in respect of the satisfaction of closing conditions to the Transaction on a timely basis or at all, including the ability to obtain required regulatory approvals and the required scheme shareholder approval; unanticipated difficulties and/or expenditures relating to the Transaction and any related financing; uncertainties as to the timing of the Transaction; litigation relating to, or other challenges to, the Transaction; the impact of the Transaction on each company’s business operations (including the threatened or actual loss of employees, clients or suppliers); the inability to obtain, or delays in obtaining cost savings and synergies from the Transaction; incurrence of unexpected costs and expenses in connection with the Transaction; risks related to changes in the financial, equity and debt markets; and risks related to political, economic and market conditions. In addition, the risks to which WNS’ business is subject, including those risks described in WNS’ periodic reports filed with the SEC, could adversely affect the Transaction and, following the completion of the Transaction, the Company’s operations and future prospects. New risks and uncertainties emerge from time to time, and it is not possible for Capgemini and WNS to predict or assess the impact of every factor that may cause actual results to differ from those contained in any forward-looking statements.

    Specifically, statements of estimated cost savings and synergies relate to future actions and circumstances which, by their nature involve, risks, uncertainties and contingencies. As a result, the cost savings and synergies referred to may not be achieved, may be achieved later or sooner than estimated, or those achieved could be materially different from those estimated. Due to the scale of the Post-Transaction Group, there may be additional changes to the Post-Transaction Group’s operations. As a result, and given the fact that the changes relate to the future, the resulting cost synergies may be materially greater or less than those estimated.

    Forward-looking statements contained herein are only based upon currently available information and speak only as of the date of this announcement, and Capgemini expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Capgemini’s expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

    Past performance is not a reliable indicator of future results and should not be relied upon for any reason.

    The anticipated financial impact of the acquisition of WNS and any references to future financial performance should not be viewed as management guidance. Actual results may differ from the statements set forth herein and such differences may be material.

    ABOUT CAPGEMINI

    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion.

    Get the Future You Want | www.capgemini.com

    ABOUT WNS

    WNS is a digital-led business transformation and services company. WNS combines deep domain expertise with talent, technology, and AI to co-create innovative solutions for over 600 clients across various industries. WNS delivers an entire spectrum of solutions including industry-specific offerings, customer experience services, finance and accounting, human resources, procurement, and research and analytics to re-imagine the digital future of businesses. As of March 31, 2025, WNS had 64,505 professionals across 64 delivery centers worldwide including facilities in Canada, China, Costa Rica, India, Malaysia, the Philippines, Poland, Romania, South Africa, Sri Lanka, Turkey, the United Kingdom, and the United States.

    For more information, visit www.wns.com

    1 Volume-weighted average
    2 Net financial debt of WNS was negligible as at March 31, 2025
    3 Clients of WNS based on public domain information
    4 WNS fiscal year ends March 31. Last 3 fiscal years end March 2025.
    5 Revenue represents revenue less repair payments
    6 WNS “Adjusted operating profit” restated to expense amortization of intangible assets (software) above operating margin to conform to Capgemini’s definition of operating margin.
    7 See https://ir.wns.com/news-releases/news-release-details/wns-acquires-kipiai-expand-data-analytics-ai-capabilities
    8 Including considerations to be paid in connection with Restricted Share Units

    Attachment

    The MIL Network –