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Category: Banking

  • MIL-OSI Africa: Arab Coordination Group Champions Bold Financial Reform at the Fourth International Conference on Financing for Development in Seville

    At the Fourth International Conference on Financing for Development (FfD4), the Arab Coordination Group (ACG) (www.TheACG.org) convened a high-level roundtable and issued a joint communiqué reaffirming its commitment to transformative, equitable, and regionally anchored development finance.

    Marking 50 years of partnership and impact in 2025, the ACG also adopted a new Joint Action Plan (2025–2030) to align its efforts with key global milestones, including COP30 and the 2026 SDG Summit.

    FfD4 spotlighted a widening annual financing gap of over USD 4 trillion, escalating climate shocks, and worsening debt distress. In this context, the ACG called for urgent structural reform and long-term investment strategies designed to address the needs of fragile, conflict-affected, and climate-vulnerable nations.

    Bridging Regions Through South–South Cooperation

    The ACG also co-hosted a strategic roundtable, “Bridging Regions: Arab Coordination Group and Latin America and the Caribbean,” in collaboration with the OPEC Fund for International Development and CAF – Development Bank of Latin America and the Caribbean. The event brought together finance ministers, ACG leaders, CAF officials, and representatives from the Central American Bank for Economic Integration and the Caribbean Development Bank.

    Discussions underscored the growing power of South–South cooperation to drive shared development through knowledge exchange, policy alignment and joint investment. Key areas of focus included climate adaptation, energy transition, food security, infrastructure, and economic diversification.

    A Record Year of Impact

    The ACG’s vision for the future builds on significant momentum. In 2024, the Group disbursed US$19.6 billion across nearly 650 operations in over 90 countries, making it the world’s second-largest development finance group.

    These investments targeted core priorities: sustainable infrastructure, global trade, and solutions to systemic challenges such as climate change and food insecurity.

    Earlier this month, at its 20th Annual Meeting in Vienna, ACG leaders reaffirmed their commitment to scaling up support for sustainable development and for vulnerable communities worldwide.

    Shaping a More Inclusive Global Financial System

    The ACG’s joint communiqué outlines bold commitments: expanding climate-resilient investment, supporting fragile states, restoring degraded lands, unlocking private capital, promoting innovative financing and deepening South–South cooperation.

    As the ACG prepares to mark its 50th Anniversary in October 2025, it looks ahead with renewed resolve to close financing gaps, advance inclusive growth and deliver tangible solutions to global challenges.

    Distributed by APO Group on behalf of Arab Coordination Group (ACG).

    About the Arab Coordination Group (ACG):
    The Arab Coordination Group (ACG) is a strategic alliance that provides a coordinated response to development finance. Since its establishment in 1975, ACG has been instrumental in developing economies and communities for a better future, providing more than 13,000 development loans to over 160 countries around the globe. Comprising ten development funds, ACG is the second-largest group of development finance institutions in the world and works across the globe to support developing nations and create a lasting, positive impact.

    The Group comprises the Abu Dhabi Fund for Development, the Arab Bank for Economic Development in Africa, the Arab Fund for Economic and Social Development, the Arab Gulf Programme for Development, the Arab Monetary Fund, the Islamic Development Bank, the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Development, the Qatar Fund for Development and the Saudi Fund for Development.

    MIL OSI Africa –

    July 1, 2025
  • MIL-OSI Africa: Arab Coordination Group (ACG) Institutions Issue Joint Communique at the Fourth International Conference on Financing for Development (FfD4)

    Preamble

    We, the Heads of Arab Coordination Group (ACG) Institutions, convening in Seville during the Fourth International Conference on Financing for Development (FfD4), reaffirm our collective commitment to delivering agile, equitable, and forward-looking development finance solutions. As we celebrate 50 years of action, we draw strength from our legacy while looking ahead to make bold and transformative contributions to the global financing landscape.

    FfD4 convenes at a time of unprecedented and intersecting crises: widening development finance gaps, intensifying climate shocks, rising debt distress, persistent fragility, and an international financial system that remains inequitable and fragmented.

    While FfD4 has highlighted important challenges and ambitions, the path to meaningful reform remains uncertain—especially concerning climate finance, mainstreaming private capital, and recognizing the strategic role of ACG institutions.

    We Commit To:

    1. Strengthening ACG’s Role in Global Finance Architecture

    • Advocate for the institutionalized inclusion of ACG institutions as permanent stakeholders in global governance, financing mechanisms, policy forums, and debt platforms.
    • Ensure that regional priorities and realities are reflected in the follow-up and outcome reporting of FfD4.

    2. Scaling Up Climate-Resilient Development Finance

    • Expand collective financing for adaptation, resilient infrastructure, and cross-border climate initiatives in agriculture, water, energy, and transport.
    • Support new climate finance tools, including green Sukuk and blended adaptation facilities.

    3. Supporting Fragile and Conflict-Affected States

    • Enhance early recovery and reconstruction financing using area-based, community-led models that support stabilization and local institution-building.
    • Engage in innovative partnerships to provide financial protection and resilience tools for vulnerable populations.
    • Prioritize financing models which recognize that economic opportunity is central to long-term stability.

    4. Addressing land degradation

    • Leverage diverse financing instruments to support long-term projects focused on restoring degraded lands and preventing further land degradation, improving soil health, and preserving biodiversity

    5. Unlocking Private Capital and Enhancing Risk Sharing

    • Scale guarantees, blended finance structures, and PPPs to crowd in responsible private investment into SDG-critical sectors.
    • Launch co-investment platforms with regional sovereign wealth funds and international impact investors.

    6. Promoting Islamic Finance and Financial Innovation

    • Position Islamic finance as an inclusive development framework, with a focus on asset-backed solutions.
    • Integrate data-driven approaches, AI, and digital tools to enhance transparency, targeting, and results of monitoring in ACG-financed operations.

    7. Championing South–South Development Finance Cooperation

    • Strengthening cross-regional collaboration and knowledge sharing in climate resilience, food security, and digital inclusion.

    8. Coordinating Action and Increasing Strategic Visibility

    • Endorse an ACG 2025–2030 Joint Action Plan to align future operations with key FfD4 themes and upcoming global forums, including COP30 and the 2026 SDG Summit.

    We Call Upon:

    • Multilateral institutions to partner with ACG institutions as co-architects—not just implementers – of a more inclusive financial architecture that reflects the voices, needs, and innovations of the Global South.
    • The international community transforms the aspirations of FfD4 into actionable outcomes that embed regional leadership and systemic reform.

    Distributed by APO Group on behalf of Arab Coordination Group (ACG).

    About the Arab Coordination Group (ACG):
    The Arab Coordination Group (ACG) is a strategic alliance that provides a coordinated response to development finance. Since its establishment in 1975, ACG has been instrumental in developing economies and communities for a better future, providing more than 13,000 development loans to over 160 countries around the globe. Comprising ten development funds, ACG is the second-largest group of development finance institutions in the world and works across the globe to support developing nations and create a lasting, positive impact.

    The Group comprises the Abu Dhabi Fund for Development, the Arab Bank for Economic Development in Africa, the Arab Fund for Economic and Social Development, the Arab Gulf Programme for Development, the Arab Monetary Fund, the Islamic Development Bank, the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Development, the Qatar Fund for Development and the Saudi Fund for Development.

    MIL OSI Africa –

    July 1, 2025
  • MIL-OSI Europe: ECB Consumer Expectations Survey results – May 2024

    Source: European Central Bank

    1 July 2025

    Compared with April 2025:

    • median consumer perceptions of inflation over the previous 12 months remained unchanged, while median expectations for inflation one and three years ahead decreased, and median inflation expectations for five years ahead remained unchanged;
    • expectations for nominal income growth over the next 12 months increased, while expectations for spending growth over the next 12 months decreased;
    • expectations for economic growth over the next 12 months became less negative, while the expected unemployment rate in 12 months’ time decreased;
    • expectations for growth in the price of homes over the next 12 months remained unchanged, while expectations for mortgage interest rates 12 months ahead declined.

    Inflation

    In May, the median rate of perceived inflation over the previous 12 months remained unchanged at 3.1% for the fourth consecutive month. This was its lowest level since September 2021. Median expectations for inflation over the next 12 months decreased by 0.3 percentage points to 2.8%. Expectations for three years ahead also decreased, by 0.1 percentage points, to 2.4% while expectations for inflation five years ahead were unchanged at 2.1% for the sixth consecutive month. Uncertainty about inflation expectations over the next 12 months decreased in May, reversing the increase observed in April. While the broad evolution of inflation perceptions and expectations remained relatively closely aligned across income groups, over the previous year and a half inflation perceptions and short-horizon expectations for lower income quintiles were, on average, slightly above those for higher income quintiles. Younger respondents (aged 18-34) continued to report lower inflation perceptions and expectations than older respondents (aged 35-54 and 55-70), albeit to a lesser degree than in previous years.

    Inflation results

    Income and consumption

    Consumers’ nominal income growth expectations over the next 12 months increased to 1.0%, from 0.9% in April. This increase was observed across all income groups. Perceived nominal spending growth over the previous 12 months increased to 5.0%, from 4.9% in April. Conversely, expected nominal spending growth over the next 12 months decreased to 3.5% in May, from 3.7% in April. This decrease was prevalent across all income quintiles, except for the lowest income group.

    Income and consumption results

    Economic growth and labour market

    Economic growth expectations for the next 12 months became less negative, standing at -1.1% in May compared with -1.9% in April. Expectations for the unemployment rate 12 months ahead decreased to 10.4%, from 10.5% in April. Consumers continued to expect the future unemployment rate to be only slightly higher than the perceived current unemployment rate (9.9%), implying a broadly stable labour market.

    Economic growth and labour market results

    Housing and credit access

    Consumers expected the price of their home to increase by 3.2% over the next 12 months, which was unchanged from April. Households in the lowest income quintile continued to expect higher growth in house prices compared with those in the highest income quintile (3.5% and 3.1% respectively). Expectations for mortgage interest rates 12 months ahead declined to 4.4%, from 4.5% in April. As in previous months, the lowest income households expected the highest mortgage interest rates 12 months ahead (4.9%), while the highest income households expected the lowest rates (4.1%). The net percentage of households reporting a tightening (relative to those reporting an easing) in access to credit over the previous 12 months declined. The net percentage of those expecting a tightening over the next 12 months declined as well, reversing the increase seen in April.

    Housing and credit access results

    The release of the Consumer Expectations Survey (CES) results for June is scheduled for 29 July 2025.

    For media queries, please contact: Benoit Deeg, tel.: +49 172 1683704.

    Notes

    • Unless otherwise indicated, the statistics presented in this press release refer to the 2% winsorised mean. For further details, see ECB Consumer Expectations Survey – Guide to the computation of aggregate statistics.
    • The CES is a monthly online survey of, currently, around 19,000 adult consumers (i.e. aged 18 or over) from 11 euro area countries: Belgium, Germany, Ireland, Greece, Spain, France, Italy, the Netherlands, Austria, Portugal and Finland. The main aggregate results of the CES are published on the ECB’s website every month. The results are used for policy analysis and complement other data sources used by the ECB.
    • Further information about the survey and the data collected is available on the CES web page. Detailed information can also be found in the following two publications: Bańkowska, K. et al., “ECB Consumer Expectations Survey: an overview and first evaluation”, Occasional Paper Series, No 287, ECB, Frankfurt am Main, December 2021; and Georgarakos, D. and Kenny, G., “Household spending and fiscal support during the COVID-19 pandemic: Insights from a new consumer survey”, Journal of Monetary Economics, Vol. 129, Supplement, July 2022, pp. S1-S14.
    • The survey results do not represent the views of the ECB’s decision-making bodies or staff.

    MIL OSI Europe News –

    July 1, 2025
  • MIL-OSI Video: ECB Forum on Central Banking 2025 – Day 1

    Source: European Central Bank (video statements)

    The ECB Forum on Central Banking – the Sintra Forum – is an annual event organised by the European Central Bank and is held in Sintra, Portugal.

    It brings together central bank governors, academics, financial market representatives, journalists and others to exchange views on current policy issues and discuss the Forum’s key topic from a longer-term perspective.

    https://www.youtube.com/watch?v=G2qv5ht7Ets

    MIL OSI Video –

    July 1, 2025
  • MIL-OSI Banking: ASEAN Socio-Cultural Community (ASCC) advances strategic plan with key performance indicator refinement

    Source: ASEAN

    HA NOI, 24 June 2025 – The Twelfth Meeting of the Ad Hoc Working Group to develop the ASCC Strategic Plan (AHWG) was convened on 23-24 June in Ha Noi, Viet Nam. The meeting was co-chaired by Dr. Christina Yeo Ken Yin, Undersecretary of the International Relations Division (Culture), Ministry of Tourism, Arts and Culture of Malaysia, and Mike Mohen A. Padilla, Section Chief of External Affairs Division, Policy Development and Planning Bureau of the Philippines. The two-day meeting was convened to consolidate and refine the key performance indicators for each strategic measure of the ASCC Strategic Plan, based on inputs from the ASCC Sectoral Bodies.
     
    In his welcoming remarks, Vice Minister of the Ministry of Home Affairs, Viet Nam, Vu Chien Thang, underscored the significance of the adoption of the ASEAN Community Vision 2045, commended the efforts of the Ad-hoc Working Group, and reaffirmed Viet Nam’s commitment to supporting the Strategic Plan’s implementation through coordinated development of the Results Framework and operationalisation of its communication plan.
     
    In her opening remarks, Dr Christina, Ad Hoc Working Group (AHWG) Co-Chair from Malaysia, congratulated members of AHWG on the successful adoption of the ASCC Strategic Plan by the ASEAN Leaders during the 46th ASEAN Summit held in Kuala Lumpur, Malaysia, in May 2025. As part of the ASEAN Community Vision 2045, the ASCC Strategic Plan aims to foster a resilient, innovative, dynamic, and people-centered ASEAN.
     
    The meeting commenced with the drafting of the ASCC Results Framework, which will translate the ASCC Strategic Plan into concrete and measurable indicators with baseline data and targets to support its implementation, monitoring and reporting.
     
    Mike Mohen A. Padilla, Ad Hoc Working Group Co-Chair from the Philippines, highlighted that a clear and inclusive Results Framework is essential to turning the ASCC Strategic Plan into real, measurable progress. He emphasised that its values rest not only in technical complexity but also in guiding impactful, people-centred actions toward the ASEAN Community Vision 2045.
     
    The meeting also reviewed the timeline for finalising the ASCC Results Framework and reflected on lessons learned from the monitoring and evaluation of the ASCC Blueprint 2025. Discussion highlighted the importance of consultations with ASCC and cross-pillar sectoral bodies who are part of the Strategic Plan’s implementation. The Meeting also noted the planned capacity-building for ASCC Sectoral Bodies on results framework and theory of change, as well as the updates on communication and outreach initiatives for the ASCC Strategic Plan.
     
    Deputy Secretary-General of ASEAN for the ASCC, San Lwin, highlighted the importance of finalising the ASCC Results Framework prior to the start of the ASCC Strategic Plan’s implementation as it will serve as a critical tool and benchmark for its progress.
     
    The Meeting was supported by the Government of Australia through the Development of the ASCC Results Framework and Baselining of the ASCC Strategic Plan Project under the Australia for ASEAN Futures Initiative (Aus4ASEAN Futures).

    The post ASEAN Socio-Cultural Community (ASCC) advances strategic plan with key performance indicator refinement appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

    July 1, 2025
  • MIL-OSI United Kingdom: Norway’s WTO Trade Policy Review: UK Statement

    Source: United Kingdom – Executive Government & Departments 3

    Speech

    Norway’s WTO Trade Policy Review: UK Statement

    UK Statement at Norway’s World Trade Organization Trade Policy Review. Delivered by the UK’s Permanent Ambassador to the WTO and UN, Simon Manley.

    State Secretary, a very warm welcome to you and your delegation both from Oslo and here from Geneva. Thank you for bringing the spark of the land of Midnight Sun, beautiful Fjords and magical Northern Lights.

    Thank you to the WTO Secretariat, as ever, for their report. Thank you, Chair, for your introductory comments. Thank you to our distinguished discussant for his insightful comments. I thought your final point about the value shown by the Norwegian case, but obviously a much broader point about institutions, is a very worthwhile one.

    Thank you, also, to the government of Norway for piloting the new Trade Policy Review portal. We were particularly pleased to see it come to life given that we have our own TPR coming up later this year so we may see it in use again.

    Report Analysis

    1. Chair, the reports highlight Norway’s extraordinary economic resilience, keeping up its very high GDP per capita level despite the challenges of COVID-19 and the rest.

    2. Its transformation into a high-income, knowledge-based economy, for us, reflects the power of open trade and strategic investment. The World Bank says that international trade accounts for over 80% of its GDP, which is remarkable.

    3. Between 2018 and 2024, foreign trade rose steadily. Imports grew from over 700 billion Norwegian Krone to over one trillion Krone, and exports from just over one trillion Krone to almost two trillion Krone. Extraordinary figures. Excluding oil, gas, ships and drilling platforms, traditional goods trade rose by about 50% and services trade by 110%.

    4. Testimony, if I may say, State Secretary, to your commitment to open trade and investment, but also the rewards of that commitment.

    Digitoll

    1. As noted in our Advance Written Questions, we’re particularly interested in the Digitoll customs declaration system, set for full rollout next year.

    2. We very much welcome its aim to automate customs proceedings and speed up clearances, especially given imports represent over 40% of Norway’s GDP.

    3. We look forward to further details and we wish you every success with that rollout.

    Bilateral Relationship

    1. Bilaterally, Chair, our relationship with Norway is exceptionally close. So close, in fact, that the Norwegian Prime Minister described us as ‘best friends’ during our own Prime Minister’s visit in May. As somebody who has been around in the diplomatic service for a few years, I have never seen it so strong. And we have had several ministerial visits just in the last 12 months.

    2. And this relationship also extends to trade. In 2024, Norway was the UK’s 12th largest trading partner with total trade valued at over £38 billion.

    3. Our UK-EEA/EFTA Free Trade Agreement (FTA), signed in 2021, is one of the UK’s most modern and comprehensive. This FTA is not only a successful deal for businesses in both countries but also provides our governments with the opportunity for regular dialogue on trade, which we very much appreciate.

    4. Our Strategic Partnership, signed in December last year, adds further depth and breadth, particularly in priority sectors such as energy.

    5. In May, we welcomed our Green Industrial Partnership, which reflects our unique energy relationship across the North Sea. And just last week, in our newly published and elegant Trade Strategy, we committed to build on that bilateral partnership, underscoring its importance for our shared clean energy goals.

    Gender

    1. Chair, our countries also share a commitment to gender equality in trade.

    2. We welcome Norway’s efforts, including through its board composition requirements for limited liability companies. As one of the three co-chairs of our Informal Working Group on Trade and Gender here, let me commend Norway’s participation in that group, and encourage it to continue sharing its valuable practices here at the WTO.

    WTO Engagement

    1. Which brings me last, but by no means least, to Norway’s exemplary commitment to the multilateral trading system and to this organisation.

    2. Like others, I must start by paying tribute to my colleague, true friend of the system and multi-hatted Norwegian colleague, Petter Ølberg. DSB Chair, DS Reform Facilitator, General Council Chair; his personal commitment to this organisation is clear as is his track record of success.

    3. Petter, your leadership as GC Chair was genuinely inspiring. And we agree with your final message to all of us: real dialogue and real reform are essential to the future of this organisation.

    4. So, we are thrilled that you have been appointed as Reform Facilitator. As outlined in our Trade Strategy we remain a staunch supporter of the multilateral trading system but we agree there is an urgent need for reform.

    5. And so we welcome Norway’s participation in key WTO plurilateral initiatives, including the JSIs on Services Domestic Regulation, Electronic Commerce, and Investment Facilitation for Development. I think they reflect your forward looking approach, State Secretary, to modernising global trade rules and are a key part of those reform efforts.

    6. We applaud your ratification of the Agreement on Fisheries Subsidies and encourage your continued leadership.

    7. And your leadership on trade and environment is particularly commendable, where you have consistently championed ambitious and constructive engagement.

    8. Like the UK, as you said at the beginning, State Secretary, our two countries see trade policy as an enabler of the vital move to net zero. Our new Trade Strategy supports this, as it underlines that we would like to go further with Norway and others to “go further and faster in the transition to net zero”.

    9. And finally, on trade and development, your leadership and advocacy for the interests of developing countries is appreciated right across this organisation. As fellow donors, we have worked closely together, and will continue to do so, including through our support for the Advisory Centre on WTO Law and as Board members of the Enhanced Integrated Framework, to help ensure the proper participation of developing countries in the multilateral trading system.

    Conclusion

    So, to conclude, State Secretary, keep up the good work! Keep up being an example to all of us.

    As this is my last Trade Policy Review, let me say that it has been a real pleasure to end with such a close trading partner and genuine friend as well as a good neighbour. Trade Policy Reviews, Chair, are fundamental to transparency and the good working of this organisation. And I know my successor, Kumar Iyer, and our team, are looking forward to our own first TPR later this year.

    ‘Tusen takk’ to you, State Secretary, and your team for your full and transparent engagement with this TPR, yet another example of your continued commitment to this organisation. Thank you.

    Updates to this page

    Published 1 July 2025

    MIL OSI United Kingdom –

    July 1, 2025
  • MIL-OSI China: Chinese envoy demands immediate, lasting ceasefire in Gaza

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

    A Chinese envoy on Monday demanded an immediate and lasting ceasefire in Gaza, saying military means cannot achieve lasting peace.

    At present, the Middle East is mired in serious turmoil. Just after reaching a fragile ceasefire with Iran, Israel launched an attack on southern Lebanon, resulting in casualties. Meanwhile, the suffering of the Palestinian people continues to intensify, said Fu Cong, China’s permanent representative to the United Nations.

    The continuation of the war in Gaza will only lead to more casualties, while the right way forward is the cessation of hostilities and negotiations toward a political solution.

    “We urge Israel to immediately stop all military operations in Gaza. Countries with significant influence on the parties concerned should act in an impartial and responsible manner and take effective actions to promote a ceasefire,” he told the Security Council.

    The humanitarian catastrophe in Gaza has been extremely critical. “Israel must fulfill its obligations under international humanitarian law as the occupying power by immediately lifting its blockade of Gaza, fully restoring humanitarian access, and supporting and cooperating with the United Nations and other humanitarian organizations in their work,” said Fu.

    Israel has continued to advance its settlement policy in the West Bank, resumed land registration in Area C under its control, demolished Palestinian homes, condoned settler violence, and expanded its military operations. Such actions violate international law and Security Council resolutions and erode the foundation of an independent Palestinian state. China calls on Israel to cease its attacks and settlement activities in the West Bank, curb settler violence, and lift restrictions on Palestinian banks, he said.

    The Palestinian question lies at the heart of the Middle East issue. The implementation of the two-state solution is the only viable path to resolving the Palestinian question. The international community should strengthen unity and jointly provide support and guarantee to advance the political process of the two-state solution, and firmly oppose the forced transfer of Palestinians and the dangerous attempts to annex Gaza and the West Bank, he said.

    China will continue to work with the international community to make unremitting efforts to put an end to the fighting in Gaza, ease the humanitarian catastrophe, implement the two-state solution, and work for a comprehensive, just, and lasting settlement of the Palestinian question, said Fu.

    MIL OSI China News –

    July 1, 2025
  • MIL-OSI China: Announcement on Open Market Operations No.124 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.124 [2025]

    (Open Market Operations Office, July 1, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB131 billion through quantity bidding at a fixed interest rate on July 1, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.40%

    RMB131 billion

    RMB131 billion

    Date of last update Nov. 29 2018

    2025年07月01日

    MIL OSI China News –

    July 1, 2025
  • MIL-OSI: Barclays Bank PLC: AI Prime & Cy S.C.A. announces pricing of an accelerated placing of shares of InPost S.A.

    Source: GlobeNewswire (MIL-OSI)

    LONDON, July 01, 2025 (GLOBE NEWSWIRE) —  

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM AN OFFER FOR SALE OF, OR THE SOLICITATION OF AN OFFER TO BUY, THE SECURITIES REFERRED TO HEREIN IN ANY JURISDICTION, INCLUDING THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW.

    PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

    01 July 2025

    AI Prime & Cy S.C.A. announces pricing of an accelerated placing of shares of InPost S.A.

    AI Prime & Cy S.C.A. (“AI Prime”), an Advent International company has priced an accelerated placing (the “Placing”) to institutional investors of 17.5 million ordinary shares in InPost S.A. (the “Company”), constituting c.3.5% of the Company’s existing share capital, at a price of EUR 13.25 per ordinary share.

    Upon settlement of the Placing, the aggregate total ownership interest of Advent International in the Company’s issued ordinary share capital will be c.6.5%. Settlement is expected to occur on 3 July 2025.

    As part of the transaction, remaining shares in the Company held by AI Prime will be subject to a 60 day lock-up period from the settlement date, subject to customary exemptions.

    Barclays Bank PLC acted as Sole Global Co-ordinator and Bookrunner on the Placing.

    The Company will not receive any proceeds from the Placing.

    IMPORTANT NOTICE

    THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY OF THESE SECURITIES IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION. THE SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM UNITED STATES REGISTRATION REQUIREMENTS. NO PUBLIC OFFER OF SECURITIES IS TO BE MADE IN THE UNITED STATES AND NEITHER THIS ANNOUNCEMENT NOR ANY COPY OF IT MAY BE TAKEN, TRANSMITTED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), CANADA, SOUTH AFRICA OR JAPAN. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES, CANADIAN, SOUTH AFRICAN OR JAPANESE SECURITIES LAWS.

    THIS ANNOUNCEMENT AND ANY OFFER OF SHARES PURSUANT TO THE PLACING (“PLACING SHARES“) IF MADE SUBSEQUENTLY ARE ONLY ADDRESSED TO AND DIRECTED AT PERSONS (1) IN THE EEA WHO ARE QUALIFIED INVESTORS WITHIN THE MEANING OF REGULATION (EU) 2017/1129 (THE “PROSPECTUS REGULATION“) AND (2) IN THE UNITED KINGDOM, WHO ARE QUALIFIED INVESTORS WITHIN THE MEANING OF THE PROSPECTUS REGULATION AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AND WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS WHO FALL WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (AS AMENDED, THE “ORDER“) OR ARE HIGH NET WORTH ENTITIES FALLING WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER OR ARE PERSONS TO WHOM AN OFFER OF THE PLACING SHARES MAY OTHERWISE BE LAWFULLY COMMUNICATED (ALL SUCH PERSONS BEING REFERRED TO AS “RELEVANT PERSONS“). PERSONS WHO ARE NOT RELEVANT PERSONS SHOULD NOT TAKE ANY ACTION ON THE BASIS OF THIS ANNOUNCEMENT AND SHOULD NOT ACT OR RELY ON IT.

    THE SECURITIES REFERRED TO HEREIN WILL BE OFFERED (I) WITHIN THE UNITED STATES ONLY TO A LIMITED NUMBER OF QUALIFIED INSTITUTIONAL BUYERS AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT“) PURSUANT TO AN EXEMPTION FROM, OR IN TRANSACTIONS NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, AND (II) OUTSIDE THE UNITED STATES IN RELIANCE ON REGULATION S UNDER THE SECURITIES ACT, IN EACH CASE SUBJECT TO PREVAILING MARKET AND OTHER CONDITIONS. THERE IS NO ASSURANCE THAT THE PLACING WILL BE COMPLETED, OR IF COMPLETED, AS TO THE TERMS ON WHICH IT IS COMPLETED. THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES WITHOUT REGISTRATION THEREUNDER OR UNLESS PURSUANT TO AN AVAILABLE EXEMPTION THEREFROM. NEITHER THIS DOCUMENT NOR THE INFORMATION CONTAINED HEREIN CONSTITUTES OR FORMS PART OF AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, SECURITIES IN THE UNITED STATES. THERE WILL BE NO PUBLIC OFFER OF ANY SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION.

    THIS ANNOUNCEMENT DOES NOT, AND SHALL NOT, IN ANY CIRCUMSTANCES CONSTITUTE A PUBLIC OFFERING, NOR AN OFFER TO SELL OR TO SUBSCRIBE, NOR A SOLICITATION TO OFFER TO PURCHASE OR TO SUBSCRIBE SECURITIES IN ANY JURISDICTION. THE DISTRIBUTION OF THIS ANNOUNCEMENT AND THE OFFERING OR SALE OF THE SECURITIES IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW. NO ACTION HAS BEEN TAKEN BY AI PRIME, BARCLAYS BANK PLC (THE “GLOBAL CO-ORDINATOR“) OR ANY OF THEIR RESPECTIVE AFFILIATES THAT WOULD, OR WHICH IS INTENDED TO, PERMIT A PUBLIC OFFER OF THE SECURITIES IN ANY JURISDICTION OR POSSESSION OR DISTRIBUTION OF THIS ANNOUNCEMENT OR ANY OTHER OFFERING OR PUBLICITY MATERIAL RELATING TO THE SECURITIES IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS REQUIRED. PERSONS INTO WHOSE POSSESSION THIS ANNOUNCEMENT COMES ARE REQUIRED BY AI PRIME AND THE GLOBAL CO-ORDINATOR TO INFORM THEMSELVES ABOUT AND TO OBSERVE ANY APPLICABLE RESTRICTIONS.

    NO PROSPECTUS OR OFFERING DOCUMENT HAS BEEN OR WILL BE PREPARED IN CONNECTION WITH THE PLACING. ANY INVESTMENT DECISION IN CONNECTION WITH THE PLACING MUST BE MADE SOLELY ON THE BASIS OF PUBLICLY AVAILABLE INFORMATION RELATING TO THE COMPANY AND ITS SHARES. SUCH INFORMATION HAS NOT BEEN INDEPENDENTLY VERIFIED AND AI PRIME AND THE GLOBAL CO-ORDINATOR ARE NOT RESPONSIBLE, AND EXPRESSLY DISCLAIM ANY LIABILITY, FOR SUCH INFORMATION. THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS FOR BACKGROUND PURPOSES ONLY AND DOES NOT PURPORT TO BE FULL OR COMPLETE. NO RELIANCE MAY BE PLACED FOR ANY PURPOSE ON THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT OR ON ITS ACCURACY OR COMPLETENESS.

    IN CONNECTION WITH THE PLACING, THE GLOBAL CO-ORDINATOR OR ANY OF ITS AFFILIATES MAY TAKE UP A PORTION OF THE PLACING SHARES AS A PRINCIPAL POSITION AND IN THAT CAPACITY MAY RETAIN, PURCHASE, SELL OR OFFER TO SELL FOR ITS OWN ACCOUNT SUCH PLACING SHARES AND OTHER SECURITIES OF THE COMPANY OR RELATED INVESTMENTS IN CONNECTION WITH THE PLACING OR OTHERWISE. ACCORDINGLY, REFERENCES TO THE PLACING SHARES BEING OFFERED, ACQUIRED, PLACED OR OTHERWISE DEALT IN SHOULD BE READ AS INCLUDING ANY OFFER TO, OR ACQUISITION, PLACING OR DEALING BY THE GLOBAL CO-ORDINATOR AND ANY OF ITS AFFILIATES ACTING AS INVESTORS FOR THEIR OWN ACCOUNTS. THE GLOBAL CO-ORDINATOR DOES NOT INTEND TO DISCLOSE THE EXTENT OF ANY SUCH INVESTMENT OR TRANSACTIONS OTHERWISE THAN IN ACCORDANCE WITH ANY LEGAL OR REGULATORY OBLIGATIONS TO DO SO.

    THIS ANNOUNCEMENT DOES NOT PURPORT TO IDENTIFY OR SUGGEST THE RISKS (DIRECT OR INDIRECT) WHICH MAY BE ASSOCIATED WITH AN INVESTMENT IN THE COMPANY OR ITS SHARES.

    THIS ANNOUNCEMENT DOES NOT CONSTITUTE A RECOMMENDATION CONCERNING THE PLACING. THE PRICE AND VALUE OF SECURITIES AND ANY INCOME FROM THEM CAN GO DOWN AS WELL AS UP. PAST PERFORMANCE IS NOT A GUIDE TO FUTURE PERFORMANCE. ACQUIRING PLACING SHARES TO WHICH THIS ANNOUNCEMENT RELATES MAY EXPOSE AN INVESTOR TO A SIGNIFICANT RISK OF LOSING ALL OF THE AMOUNT INVESTED. POTENTIAL INVESTORS SHOULD CONSULT A PROFESSIONAL ADVISOR AS TO THE SUITABILITY OF THE PLACING FOR THE ENTITY OR PERSON CONCERNED. THIS ANNOUNCEMENT DOES NOT REPRESENT THE ANNOUNCEMENT OF A DEFINITIVE AGREEMENT TO PROCEED WITH THE PLACING AND, ACCORDINGLY, THERE CAN BE NO CERTAINTY THAT THE PLACING WILL PROCEED. AI PRIME RESERVES THE RIGHT NOT TO PROCEED WITH THE PLACING OR TO VARY THE TERMS OF THE PLACING IN ANY WAY.

    BARCLAYS BANK PLC IS AUTHORISED IN THE UNITED KINGDOM BY THE PRUDENTIAL REGULATION AUTHORITY AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY AND THE PRUDENTIAL REGULATION AUTHORITY.  THE GLOBAL CO-ORDINATOR IS ACTING FOR AI PRIME AND NO-ONE ELSE IN CONNECTION WITH THE PLACING. NEITHER THE GLOBAL CO-ORDINATOR NOR ANY OF ITS AFFILIATES, NOR THEIR RESPECTIVE PARTNERS, DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS WILL REGARD ANY OTHER PERSON AS A CLIENT IN CONNECTION WITH THE PLACING AND THEY WILL NOT BE RESPONSIBLE TO ANYONE OTHER THAN AI PRIME FOR PROVIDING THE PROTECTIONS AFFORDED TO THEIR RESPECTIVE CLIENTS OR FOR PROVIDING ADVICE IN CONNECTION WITH THE PLACING DESCRIBED IN THIS ANNOUNCEMENT OR FOR ANY OTHER MATTERS REFERRED TO HEREIN.

    CERTAIN FIGURES CONTAINED IN THIS ANNOUNCEMENT HAVE BEEN SUBJECT TO ROUNDING ADJUSTMENTS. ACCORDINGLY, IN CERTAIN INSTANCES, THE SUM OR PERCENTAGE CHANGE OF THE NUMBERS CONTAINED IN THIS ANNOUNCEMENT MAY NOT CONFORM EXACTLY WITH THE TOTAL FIGURE GIVEN.

    THIS ANNOUNCEMENT INCLUDES STATEMENTS THAT ARE, OR MAY BE DEEMED TO BE, FORWARD-LOOKING STATEMENTS. THESE FORWARD-LOOKING STATEMENTS MAY BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY, INCLUDING THE TERMS “INTENDS”, “EXPECTS”, “WILL”, OR “MAY”, OR, IN EACH CASE, THEIR NEGATIVE OR OTHER VARIATIONS OR COMPARABLE TERMINOLOGY, OR BY DISCUSSIONS OF STRATEGY, PLANS, OBJECTIVES, GOALS, FUTURE EVENTS OR INTENTIONS. THESE FORWARD-LOOKING STATEMENTS INCLUDE ALL MATTERS THAT ARE NOT HISTORICAL FACTS AND INCLUDE STATEMENTS REGARDING INTENTIONS, BELIEFS OR CURRENT EXPECTATIONS. NO ASSURANCES CAN BE GIVEN THAT THE FORWARD-LOOKING STATEMENTS IN THIS ANNOUNCEMENT WILL BE REALISED. AS A RESULT, NO UNDUE RELIANCE SHOULD BE PLACED ON THESE FORWARD-LOOKING STATEMENTS AS A PREDICTION OF ACTUAL EVENTS OR OTHERWISE.

    This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

    The MIL Network –

    July 1, 2025
  • MIL-OSI: Barclays Bank PLC: AI Prime & Cy S.C.A. announces pricing of an accelerated placing of shares of InPost S.A.

    Source: GlobeNewswire (MIL-OSI)

    LONDON, July 01, 2025 (GLOBE NEWSWIRE) —  

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM AN OFFER FOR SALE OF, OR THE SOLICITATION OF AN OFFER TO BUY, THE SECURITIES REFERRED TO HEREIN IN ANY JURISDICTION, INCLUDING THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW.

    PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

    01 July 2025

    AI Prime & Cy S.C.A. announces pricing of an accelerated placing of shares of InPost S.A.

    AI Prime & Cy S.C.A. (“AI Prime”), an Advent International company has priced an accelerated placing (the “Placing”) to institutional investors of 17.5 million ordinary shares in InPost S.A. (the “Company”), constituting c.3.5% of the Company’s existing share capital, at a price of EUR 13.25 per ordinary share.

    Upon settlement of the Placing, the aggregate total ownership interest of Advent International in the Company’s issued ordinary share capital will be c.6.5%. Settlement is expected to occur on 3 July 2025.

    As part of the transaction, remaining shares in the Company held by AI Prime will be subject to a 60 day lock-up period from the settlement date, subject to customary exemptions.

    Barclays Bank PLC acted as Sole Global Co-ordinator and Bookrunner on the Placing.

    The Company will not receive any proceeds from the Placing.

    IMPORTANT NOTICE

    THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY OF THESE SECURITIES IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION. THE SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM UNITED STATES REGISTRATION REQUIREMENTS. NO PUBLIC OFFER OF SECURITIES IS TO BE MADE IN THE UNITED STATES AND NEITHER THIS ANNOUNCEMENT NOR ANY COPY OF IT MAY BE TAKEN, TRANSMITTED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), CANADA, SOUTH AFRICA OR JAPAN. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES, CANADIAN, SOUTH AFRICAN OR JAPANESE SECURITIES LAWS.

    THIS ANNOUNCEMENT AND ANY OFFER OF SHARES PURSUANT TO THE PLACING (“PLACING SHARES“) IF MADE SUBSEQUENTLY ARE ONLY ADDRESSED TO AND DIRECTED AT PERSONS (1) IN THE EEA WHO ARE QUALIFIED INVESTORS WITHIN THE MEANING OF REGULATION (EU) 2017/1129 (THE “PROSPECTUS REGULATION“) AND (2) IN THE UNITED KINGDOM, WHO ARE QUALIFIED INVESTORS WITHIN THE MEANING OF THE PROSPECTUS REGULATION AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AND WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS WHO FALL WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (AS AMENDED, THE “ORDER“) OR ARE HIGH NET WORTH ENTITIES FALLING WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER OR ARE PERSONS TO WHOM AN OFFER OF THE PLACING SHARES MAY OTHERWISE BE LAWFULLY COMMUNICATED (ALL SUCH PERSONS BEING REFERRED TO AS “RELEVANT PERSONS“). PERSONS WHO ARE NOT RELEVANT PERSONS SHOULD NOT TAKE ANY ACTION ON THE BASIS OF THIS ANNOUNCEMENT AND SHOULD NOT ACT OR RELY ON IT.

    THE SECURITIES REFERRED TO HEREIN WILL BE OFFERED (I) WITHIN THE UNITED STATES ONLY TO A LIMITED NUMBER OF QUALIFIED INSTITUTIONAL BUYERS AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT“) PURSUANT TO AN EXEMPTION FROM, OR IN TRANSACTIONS NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, AND (II) OUTSIDE THE UNITED STATES IN RELIANCE ON REGULATION S UNDER THE SECURITIES ACT, IN EACH CASE SUBJECT TO PREVAILING MARKET AND OTHER CONDITIONS. THERE IS NO ASSURANCE THAT THE PLACING WILL BE COMPLETED, OR IF COMPLETED, AS TO THE TERMS ON WHICH IT IS COMPLETED. THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES WITHOUT REGISTRATION THEREUNDER OR UNLESS PURSUANT TO AN AVAILABLE EXEMPTION THEREFROM. NEITHER THIS DOCUMENT NOR THE INFORMATION CONTAINED HEREIN CONSTITUTES OR FORMS PART OF AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, SECURITIES IN THE UNITED STATES. THERE WILL BE NO PUBLIC OFFER OF ANY SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION.

    THIS ANNOUNCEMENT DOES NOT, AND SHALL NOT, IN ANY CIRCUMSTANCES CONSTITUTE A PUBLIC OFFERING, NOR AN OFFER TO SELL OR TO SUBSCRIBE, NOR A SOLICITATION TO OFFER TO PURCHASE OR TO SUBSCRIBE SECURITIES IN ANY JURISDICTION. THE DISTRIBUTION OF THIS ANNOUNCEMENT AND THE OFFERING OR SALE OF THE SECURITIES IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW. NO ACTION HAS BEEN TAKEN BY AI PRIME, BARCLAYS BANK PLC (THE “GLOBAL CO-ORDINATOR“) OR ANY OF THEIR RESPECTIVE AFFILIATES THAT WOULD, OR WHICH IS INTENDED TO, PERMIT A PUBLIC OFFER OF THE SECURITIES IN ANY JURISDICTION OR POSSESSION OR DISTRIBUTION OF THIS ANNOUNCEMENT OR ANY OTHER OFFERING OR PUBLICITY MATERIAL RELATING TO THE SECURITIES IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS REQUIRED. PERSONS INTO WHOSE POSSESSION THIS ANNOUNCEMENT COMES ARE REQUIRED BY AI PRIME AND THE GLOBAL CO-ORDINATOR TO INFORM THEMSELVES ABOUT AND TO OBSERVE ANY APPLICABLE RESTRICTIONS.

    NO PROSPECTUS OR OFFERING DOCUMENT HAS BEEN OR WILL BE PREPARED IN CONNECTION WITH THE PLACING. ANY INVESTMENT DECISION IN CONNECTION WITH THE PLACING MUST BE MADE SOLELY ON THE BASIS OF PUBLICLY AVAILABLE INFORMATION RELATING TO THE COMPANY AND ITS SHARES. SUCH INFORMATION HAS NOT BEEN INDEPENDENTLY VERIFIED AND AI PRIME AND THE GLOBAL CO-ORDINATOR ARE NOT RESPONSIBLE, AND EXPRESSLY DISCLAIM ANY LIABILITY, FOR SUCH INFORMATION. THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS FOR BACKGROUND PURPOSES ONLY AND DOES NOT PURPORT TO BE FULL OR COMPLETE. NO RELIANCE MAY BE PLACED FOR ANY PURPOSE ON THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT OR ON ITS ACCURACY OR COMPLETENESS.

    IN CONNECTION WITH THE PLACING, THE GLOBAL CO-ORDINATOR OR ANY OF ITS AFFILIATES MAY TAKE UP A PORTION OF THE PLACING SHARES AS A PRINCIPAL POSITION AND IN THAT CAPACITY MAY RETAIN, PURCHASE, SELL OR OFFER TO SELL FOR ITS OWN ACCOUNT SUCH PLACING SHARES AND OTHER SECURITIES OF THE COMPANY OR RELATED INVESTMENTS IN CONNECTION WITH THE PLACING OR OTHERWISE. ACCORDINGLY, REFERENCES TO THE PLACING SHARES BEING OFFERED, ACQUIRED, PLACED OR OTHERWISE DEALT IN SHOULD BE READ AS INCLUDING ANY OFFER TO, OR ACQUISITION, PLACING OR DEALING BY THE GLOBAL CO-ORDINATOR AND ANY OF ITS AFFILIATES ACTING AS INVESTORS FOR THEIR OWN ACCOUNTS. THE GLOBAL CO-ORDINATOR DOES NOT INTEND TO DISCLOSE THE EXTENT OF ANY SUCH INVESTMENT OR TRANSACTIONS OTHERWISE THAN IN ACCORDANCE WITH ANY LEGAL OR REGULATORY OBLIGATIONS TO DO SO.

    THIS ANNOUNCEMENT DOES NOT PURPORT TO IDENTIFY OR SUGGEST THE RISKS (DIRECT OR INDIRECT) WHICH MAY BE ASSOCIATED WITH AN INVESTMENT IN THE COMPANY OR ITS SHARES.

    THIS ANNOUNCEMENT DOES NOT CONSTITUTE A RECOMMENDATION CONCERNING THE PLACING. THE PRICE AND VALUE OF SECURITIES AND ANY INCOME FROM THEM CAN GO DOWN AS WELL AS UP. PAST PERFORMANCE IS NOT A GUIDE TO FUTURE PERFORMANCE. ACQUIRING PLACING SHARES TO WHICH THIS ANNOUNCEMENT RELATES MAY EXPOSE AN INVESTOR TO A SIGNIFICANT RISK OF LOSING ALL OF THE AMOUNT INVESTED. POTENTIAL INVESTORS SHOULD CONSULT A PROFESSIONAL ADVISOR AS TO THE SUITABILITY OF THE PLACING FOR THE ENTITY OR PERSON CONCERNED. THIS ANNOUNCEMENT DOES NOT REPRESENT THE ANNOUNCEMENT OF A DEFINITIVE AGREEMENT TO PROCEED WITH THE PLACING AND, ACCORDINGLY, THERE CAN BE NO CERTAINTY THAT THE PLACING WILL PROCEED. AI PRIME RESERVES THE RIGHT NOT TO PROCEED WITH THE PLACING OR TO VARY THE TERMS OF THE PLACING IN ANY WAY.

    BARCLAYS BANK PLC IS AUTHORISED IN THE UNITED KINGDOM BY THE PRUDENTIAL REGULATION AUTHORITY AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY AND THE PRUDENTIAL REGULATION AUTHORITY.  THE GLOBAL CO-ORDINATOR IS ACTING FOR AI PRIME AND NO-ONE ELSE IN CONNECTION WITH THE PLACING. NEITHER THE GLOBAL CO-ORDINATOR NOR ANY OF ITS AFFILIATES, NOR THEIR RESPECTIVE PARTNERS, DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS WILL REGARD ANY OTHER PERSON AS A CLIENT IN CONNECTION WITH THE PLACING AND THEY WILL NOT BE RESPONSIBLE TO ANYONE OTHER THAN AI PRIME FOR PROVIDING THE PROTECTIONS AFFORDED TO THEIR RESPECTIVE CLIENTS OR FOR PROVIDING ADVICE IN CONNECTION WITH THE PLACING DESCRIBED IN THIS ANNOUNCEMENT OR FOR ANY OTHER MATTERS REFERRED TO HEREIN.

    CERTAIN FIGURES CONTAINED IN THIS ANNOUNCEMENT HAVE BEEN SUBJECT TO ROUNDING ADJUSTMENTS. ACCORDINGLY, IN CERTAIN INSTANCES, THE SUM OR PERCENTAGE CHANGE OF THE NUMBERS CONTAINED IN THIS ANNOUNCEMENT MAY NOT CONFORM EXACTLY WITH THE TOTAL FIGURE GIVEN.

    THIS ANNOUNCEMENT INCLUDES STATEMENTS THAT ARE, OR MAY BE DEEMED TO BE, FORWARD-LOOKING STATEMENTS. THESE FORWARD-LOOKING STATEMENTS MAY BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY, INCLUDING THE TERMS “INTENDS”, “EXPECTS”, “WILL”, OR “MAY”, OR, IN EACH CASE, THEIR NEGATIVE OR OTHER VARIATIONS OR COMPARABLE TERMINOLOGY, OR BY DISCUSSIONS OF STRATEGY, PLANS, OBJECTIVES, GOALS, FUTURE EVENTS OR INTENTIONS. THESE FORWARD-LOOKING STATEMENTS INCLUDE ALL MATTERS THAT ARE NOT HISTORICAL FACTS AND INCLUDE STATEMENTS REGARDING INTENTIONS, BELIEFS OR CURRENT EXPECTATIONS. NO ASSURANCES CAN BE GIVEN THAT THE FORWARD-LOOKING STATEMENTS IN THIS ANNOUNCEMENT WILL BE REALISED. AS A RESULT, NO UNDUE RELIANCE SHOULD BE PLACED ON THESE FORWARD-LOOKING STATEMENTS AS A PREDICTION OF ACTUAL EVENTS OR OTHERWISE.

    This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

    The MIL Network –

    July 1, 2025
  • MIL-OSI Europe: ECB commits to distributed ledger technology settlement plans with dual-track strategy

    Source: European Central Bank

    1 July 2025

    • Short-term track (Pontes) to pilot link between distributed ledger technology platforms and TARGET Services by end-2026
    • Long-term track (Appia) to shape future-ready, innovative, integrated financial ecosystems
    • Initiatives will deliver on Eurosystem’s continuing commitment to safe, efficient settlement in central bank money

    The ECB’s Governing Council has approved a plan that will enable settling distributed ledger technology (DLT) transactions using central bank money. The initiative follows a two-track approach: the first track “Pontes” provides a short-term offering to the market – including a pilot phase – and the second track “Appia” focuses on a potential long-term solution. The decision is in line with the Eurosystem’s commitment to supporting innovation without compromising on safety and efficiency in financial market infrastructures.

    Pontes will offer a Eurosystem DLT-based solution, linking DLT platforms and TARGET Services to settle transactions in central bank money. The Eurosystem plans to launch a pilot for Pontes by the end of the third quarter of 2026. It will offer a single Eurosystem solution which incorporates features used in the Eurosystem’s exploratory work on DLT in 2024. During the pilot, the Eurosystem will also explore the feasibility of further enhancements in line with the TARGET Services operational, legal and technical standards. Between now and the launch of the Pontes pilot, the Eurosystem will consider requests for further DLT-related trials and experiments.

    Appia focuses on a long-term approach for an innovative and integrated ecosystem in Europe that also facilitates safe and efficient operations at the global level. The Eurosystem will actively continue to analyse DLT-based solutions and collaborate with public and private stakeholders.

    To ensure continuous dialogue with the market, the Eurosystem will establish dedicated market contact groups for both Pontes and Appia. A call for expressions of interest in participating in the Pontes contact group will be published soon.

    Pontes and Appia will build on the Eurosystem’s exploratory work on new technologies for wholesale central bank money settlement, which was conducted between May and November 2024. In this exploratory work, 64 participants conducted over 50 trials and experiments. A dedicated report outlining the results of the exploratory work has been published today.

    For media queries, please contact Alessandro Speciale, tel.: +49 172 1670791.

    MIL OSI Europe News –

    July 1, 2025
  • MIL-OSI: BNP PARIBAS CARDIF COMPLETES THE ACQUISITION OF AXA INVESTMENT MANAGERS

    Source: GlobeNewswire (MIL-OSI)

            

    BNP PARIBAS CARDIF COMPLETES THE ACQUISITION OF
    AXA INVESTMENT MANAGERS

    PRESS RELEASE

    Paris, 01 July 2025,

    BNP Paribas Cardif has finalised the acquisition of AXA Investment Managers (AXA IM) and signed a long-term partnership with the AXA Group to manage a large part of its assets.

    This operation, announced on 1st August 2024, will enable the BNP Paribas Group to create a leading European asset management platform with over EUR 1.5 trillion in assets under management entrusted by its clients. It allows the Group to become the European leader in long-term savings management for insurers and pension funds with around EUR 850 billion, with the ambition to become the European leader in fund collection for private asset investments and positioning itself among the main providers of ETFs in Europe. This operation is also part of the Group’s core mission to support the economy by mobilising savings to finance future-oriented projects in the best interests of its clients.

    By combining the expertise of AXA IM, BNP Paribas Asset Management, and BNP Paribas REIM, this new platform will have a wide range of traditional and alternative assets, an expanded global distribution network, enhanced innovation capabilities, and a more comprehensive offering in responsible investment. It will benefit from AXA IM Alts’ market position and expertise in private assets, which are key drivers of future growth for institutional and individual clients, as well as AXA IM’s know-how in long-term asset management for insurance and retirement. In this context, BNP Paribas Cardif will leverage the capabilities of this platform for the management of a large part of its assets, notably its general funds.

    The formation of this new platform marks a major milestone in the development and growth journey of the IPS division. It will fully benefit from BNP Paribas’ integrated model, in close collaboration with the CPBS and CIB businesses, particularly within the framework of the “originate to distribute” approach.

    “This acquisition is an important moment for the entire BNP Paribas Group. We are delighted to welcome the AXA IM teams, who will find within the BNP Paribas Group a strong culture of customer service as well as ambitious growth and innovation prospects. These are teams with recognised and complementary expertise that will build together a European industrial project to better serve our clients. I have every confidence in the ability of the management teams of our asset management activities to grow the business and create value for our clients and employees,” said Jean-Laurent Bonnafé, Director and Chief Executive Officer of BNP Paribas.

    Joint working groups with AXA IM teams are already in place to reflect on and develop a common roadmap, particularly with regard to offerings and services. This roadmap will be submitted to the appropriate employee representative bodies.

    The project to merge the legal entities of AXA IM, BNP Paribas AM and BNP Paribas REIM, which would create the new platform held by BNP Paribas Cardif, is currently the subject of consultation with employee representative bodies.

    Sandro Pierri, CEO of BNP Paribas AM, will lead the BNP Paribas Group’s asset management activities and Marco Morelli, the current Executive Chairman of AXA IM, will chair the BNP Paribas Group’s asset management activities.

    From a financial perspective:

    • The Group’s revenue growth by 2026, including the impact of the transaction, will be greater than +5% (CAGR 24-26), with an average annual jaws effect of +1.5 pts.
    • Return on Invested Capital (ROIC) will be more than 14% in year three (2028) and more than 20% in year four (2029).
    • From a prudential perspective, the impact of the operation on the Group’s CET1 ratio is estimated at approximately -35bp as of the 3rd quarter 2025 results, discussions with supervisory authorities are still on going.

    An update on the progress of the operation will be provided upon the release of the third-quarter 2025 results ahead of a Deep Dive, that will take place during the first quarter 2026, focused on the Group’s trajectory including this operation.

    About BNP Paribas
    Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

    BNP Paribas Press Contacts
    Hacina Habchi: hacina.habchi@bnpparibas.com +33 7 61 97 65 20
    Sandrine Romano: sandrine.romano@bnpparibas.com +33 6 71 18 13 05

    Attachment

    • 01.07.2025_BNP Paribas Cardif completes the acquisition of AXA IM

    The MIL Network –

    July 1, 2025
  • MIL-OSI: BNP PARIBAS CARDIF COMPLETES THE ACQUISITION OF AXA INVESTMENT MANAGERS

    Source: GlobeNewswire (MIL-OSI)

            

    BNP PARIBAS CARDIF COMPLETES THE ACQUISITION OF
    AXA INVESTMENT MANAGERS

    PRESS RELEASE

    Paris, 01 July 2025,

    BNP Paribas Cardif has finalised the acquisition of AXA Investment Managers (AXA IM) and signed a long-term partnership with the AXA Group to manage a large part of its assets.

    This operation, announced on 1st August 2024, will enable the BNP Paribas Group to create a leading European asset management platform with over EUR 1.5 trillion in assets under management entrusted by its clients. It allows the Group to become the European leader in long-term savings management for insurers and pension funds with around EUR 850 billion, with the ambition to become the European leader in fund collection for private asset investments and positioning itself among the main providers of ETFs in Europe. This operation is also part of the Group’s core mission to support the economy by mobilising savings to finance future-oriented projects in the best interests of its clients.

    By combining the expertise of AXA IM, BNP Paribas Asset Management, and BNP Paribas REIM, this new platform will have a wide range of traditional and alternative assets, an expanded global distribution network, enhanced innovation capabilities, and a more comprehensive offering in responsible investment. It will benefit from AXA IM Alts’ market position and expertise in private assets, which are key drivers of future growth for institutional and individual clients, as well as AXA IM’s know-how in long-term asset management for insurance and retirement. In this context, BNP Paribas Cardif will leverage the capabilities of this platform for the management of a large part of its assets, notably its general funds.

    The formation of this new platform marks a major milestone in the development and growth journey of the IPS division. It will fully benefit from BNP Paribas’ integrated model, in close collaboration with the CPBS and CIB businesses, particularly within the framework of the “originate to distribute” approach.

    “This acquisition is an important moment for the entire BNP Paribas Group. We are delighted to welcome the AXA IM teams, who will find within the BNP Paribas Group a strong culture of customer service as well as ambitious growth and innovation prospects. These are teams with recognised and complementary expertise that will build together a European industrial project to better serve our clients. I have every confidence in the ability of the management teams of our asset management activities to grow the business and create value for our clients and employees,” said Jean-Laurent Bonnafé, Director and Chief Executive Officer of BNP Paribas.

    Joint working groups with AXA IM teams are already in place to reflect on and develop a common roadmap, particularly with regard to offerings and services. This roadmap will be submitted to the appropriate employee representative bodies.

    The project to merge the legal entities of AXA IM, BNP Paribas AM and BNP Paribas REIM, which would create the new platform held by BNP Paribas Cardif, is currently the subject of consultation with employee representative bodies.

    Sandro Pierri, CEO of BNP Paribas AM, will lead the BNP Paribas Group’s asset management activities and Marco Morelli, the current Executive Chairman of AXA IM, will chair the BNP Paribas Group’s asset management activities.

    From a financial perspective:

    • The Group’s revenue growth by 2026, including the impact of the transaction, will be greater than +5% (CAGR 24-26), with an average annual jaws effect of +1.5 pts.
    • Return on Invested Capital (ROIC) will be more than 14% in year three (2028) and more than 20% in year four (2029).
    • From a prudential perspective, the impact of the operation on the Group’s CET1 ratio is estimated at approximately -35bp as of the 3rd quarter 2025 results, discussions with supervisory authorities are still on going.

    An update on the progress of the operation will be provided upon the release of the third-quarter 2025 results ahead of a Deep Dive, that will take place during the first quarter 2026, focused on the Group’s trajectory including this operation.

    About BNP Paribas
    Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

    BNP Paribas Press Contacts
    Hacina Habchi: hacina.habchi@bnpparibas.com +33 7 61 97 65 20
    Sandrine Romano: sandrine.romano@bnpparibas.com +33 6 71 18 13 05

    Attachment

    • 01.07.2025_BNP Paribas Cardif completes the acquisition of AXA IM

    The MIL Network –

    July 1, 2025
  • MIL-OSI: Completion of the combination between Netcompany Banking Services and SDC and update on financial guidance

    Source: GlobeNewswire (MIL-OSI)

    Company announcement
    No. 16/2025

    1 July 2025

    Completion of the combination between Netcompany Banking Services and SDC and update on financial guidance

    Today, Netcompany Group A/S (“Netcompany”) has completed the previously announced agreement of 10 February 2025, namely a transaction between Netcompany, SDC A/S (“SDC”), and a majority of SDC’s shareholders whereby a newly formed company of Netcompany and SDC would merge into a combined company fully owned by Netcompany. The transaction values SDC at DKK 1 billion and includes a cash payment of DKK 1 billion from Netcompany to SDC’s shareholders.

    The transaction with SDC provides a strong foothold for Netcompany in the financial services industry, which is the highest spending vertical within IT services in Europe. In 2025, the total addressable market in DK, NO, and SE is estimated to be more than DKK 44 billion and the market is expected to grow more than 10% annually towards 2028, supporting Netcompany’s ambition of delivering continued sustainable organic growth.

    André Rogaczewski, CEO Netcompany states:
    “As we conclude the transaction with SDC, I am excited to welcome our new colleagues to Netcompany. This transaction positions Netcompany at the forefront of digital innovation in the banking sector. Together, we are embarking on a journey to redefine banking services, making them smarter, more efficient, and more customer-centric.
    We are excited about the opportunities this transaction presents within the financial services industry and expect this transaction to create innovative and best-in-class services in Denmark, Scandinavia, and the rest of Europe”  

    Klaus Skjødt, CEO Sparekassen Kronjylland states:  
    “We are excited about the future and eager to realise the full potential of this transaction and to take all the knowledge that SDC has spent over 60 years building to the next level.
    Our combined expertise and resources will empower us to deliver cutting-edge solutions and drive transformative change across the industry. I am confident that our partnership will enhance the banking experience for all stakeholders and set new standards for what both banks and their customers can expect in the future.”

    Transaction details

    • Netcompany has acquired 100% of the shares in SDC for a cash consideration of DKK 1 billion. Netcompany has made the acquisition through the newly formed company – Netcompany Banking Services A/S – which has merged with SDC resulting in a fully owned subsidiary of Netcompany in which the activities of SDC are embedded.
    • The cash consideration is funded by way of utilising current credit facilities. The transaction is fully debt financed within the existing covenants.
    • Due to integration costs, the transaction is expected to have a dilutive impact on EPS for the financial year 2025.
    • The transaction is expected to be EPS accretive (diluted) to Netcompany from the financial year 2026 compared to the financial year 2024. Furthermore, the transaction is expected to be double-digit percentage EPS accretive (diluted) by the financial year 2028 – also compared to the financial year 2024.
    • Following the completion of the transaction, Netcompany Banking Services A/S intends to renounce the Collective Bargaining Agreement between the Financial Services Union for employees in Finance (in Danish: “Finansforbundet”) and Finance Denmark (in Danish: Finans Danmark), including associated protocols, local agreements, customs, etc. The reason for the intended renunciation of the Collective Bargaining Agreement is that Netcompany operates as a provider of IT services and not as a company within the financial sector.
    • To accelerate further collaboration and support integration, all employees in SDC, who are currently based in SDC’s headquarters in Ballerup, will move to Netcompany’s headquarters in Copenhagen as of the beginning of January 2026.  

    Financial guidance
    Financial guidance for 2025 for Netcompany on a stand-alone basis, as disclosed in the Annual Report 2024, is based on organic performance metrics and hence maintained. Organic revenue growth is expected between 5% and 10% and the adjusted EBITDA margin between 16% and 19%.

    In connection with the release of the Q2 Interim Report on 14 August 2025, Netcompany will disclose expected non-organic revenue and non-organic EBITDA for 2025 which accounts for the incorporation of SDC into Netcompany Banking Services for the full second half of 2025.

    In connection with the Q3 Interim Report on 30 October 2025, Netcompany will disclose expected annual synergies as well as transaction – and integration costs, including provision for restructuring costs associated with the realisation of future synergies. In addition, a full purchase price allocation will be included in the Q3 Interim Report.

    Netcompany expects to reinitiate its share buyback programmes in connection with the Q2 Interim Report on 14 August 2025. Leverage at the end of 2025 is expected to be around 1.5x.

    As a consequence of the completion of the transaction, Netcompany’s financial aspirations for 2026 and 2027 regarding margin and revenue targets will be revised to reflect the incorporation of SDC and for this reason, the previously communicated targets are no longer relevant. The ambition to buy back shares for a total of DKK 2bn in the period from 2024 until the end of 2026 persists. Revised long-term financial aspirations will be communicated in connection with a Capital Markets Day on 31 October 2025.

    Additional information
    For additional information, please contact:

    Netcompany Group A/S
    Media:
    Jacob Therkelsen, Head of PR and Public Affairs, +45 31 12 67 08

    Investors:
    Thomas Johansen, CFO, + 45 51 19 32 24
    Frederikke Linde, Head of IR, +45 60 62 60 87

    Attachment

    • 16. Netcompany – Completion of the combination between SDC and Netcompany

    The MIL Network –

    July 1, 2025
  • MIL-OSI: Completion of the combination between Netcompany Banking Services and SDC and update on financial guidance

    Source: GlobeNewswire (MIL-OSI)

    Company announcement
    No. 16/2025

    1 July 2025

    Completion of the combination between Netcompany Banking Services and SDC and update on financial guidance

    Today, Netcompany Group A/S (“Netcompany”) has completed the previously announced agreement of 10 February 2025, namely a transaction between Netcompany, SDC A/S (“SDC”), and a majority of SDC’s shareholders whereby a newly formed company of Netcompany and SDC would merge into a combined company fully owned by Netcompany. The transaction values SDC at DKK 1 billion and includes a cash payment of DKK 1 billion from Netcompany to SDC’s shareholders.

    The transaction with SDC provides a strong foothold for Netcompany in the financial services industry, which is the highest spending vertical within IT services in Europe. In 2025, the total addressable market in DK, NO, and SE is estimated to be more than DKK 44 billion and the market is expected to grow more than 10% annually towards 2028, supporting Netcompany’s ambition of delivering continued sustainable organic growth.

    André Rogaczewski, CEO Netcompany states:
    “As we conclude the transaction with SDC, I am excited to welcome our new colleagues to Netcompany. This transaction positions Netcompany at the forefront of digital innovation in the banking sector. Together, we are embarking on a journey to redefine banking services, making them smarter, more efficient, and more customer-centric.
    We are excited about the opportunities this transaction presents within the financial services industry and expect this transaction to create innovative and best-in-class services in Denmark, Scandinavia, and the rest of Europe”  

    Klaus Skjødt, CEO Sparekassen Kronjylland states:  
    “We are excited about the future and eager to realise the full potential of this transaction and to take all the knowledge that SDC has spent over 60 years building to the next level.
    Our combined expertise and resources will empower us to deliver cutting-edge solutions and drive transformative change across the industry. I am confident that our partnership will enhance the banking experience for all stakeholders and set new standards for what both banks and their customers can expect in the future.”

    Transaction details

    • Netcompany has acquired 100% of the shares in SDC for a cash consideration of DKK 1 billion. Netcompany has made the acquisition through the newly formed company – Netcompany Banking Services A/S – which has merged with SDC resulting in a fully owned subsidiary of Netcompany in which the activities of SDC are embedded.
    • The cash consideration is funded by way of utilising current credit facilities. The transaction is fully debt financed within the existing covenants.
    • Due to integration costs, the transaction is expected to have a dilutive impact on EPS for the financial year 2025.
    • The transaction is expected to be EPS accretive (diluted) to Netcompany from the financial year 2026 compared to the financial year 2024. Furthermore, the transaction is expected to be double-digit percentage EPS accretive (diluted) by the financial year 2028 – also compared to the financial year 2024.
    • Following the completion of the transaction, Netcompany Banking Services A/S intends to renounce the Collective Bargaining Agreement between the Financial Services Union for employees in Finance (in Danish: “Finansforbundet”) and Finance Denmark (in Danish: Finans Danmark), including associated protocols, local agreements, customs, etc. The reason for the intended renunciation of the Collective Bargaining Agreement is that Netcompany operates as a provider of IT services and not as a company within the financial sector.
    • To accelerate further collaboration and support integration, all employees in SDC, who are currently based in SDC’s headquarters in Ballerup, will move to Netcompany’s headquarters in Copenhagen as of the beginning of January 2026.  

    Financial guidance
    Financial guidance for 2025 for Netcompany on a stand-alone basis, as disclosed in the Annual Report 2024, is based on organic performance metrics and hence maintained. Organic revenue growth is expected between 5% and 10% and the adjusted EBITDA margin between 16% and 19%.

    In connection with the release of the Q2 Interim Report on 14 August 2025, Netcompany will disclose expected non-organic revenue and non-organic EBITDA for 2025 which accounts for the incorporation of SDC into Netcompany Banking Services for the full second half of 2025.

    In connection with the Q3 Interim Report on 30 October 2025, Netcompany will disclose expected annual synergies as well as transaction – and integration costs, including provision for restructuring costs associated with the realisation of future synergies. In addition, a full purchase price allocation will be included in the Q3 Interim Report.

    Netcompany expects to reinitiate its share buyback programmes in connection with the Q2 Interim Report on 14 August 2025. Leverage at the end of 2025 is expected to be around 1.5x.

    As a consequence of the completion of the transaction, Netcompany’s financial aspirations for 2026 and 2027 regarding margin and revenue targets will be revised to reflect the incorporation of SDC and for this reason, the previously communicated targets are no longer relevant. The ambition to buy back shares for a total of DKK 2bn in the period from 2024 until the end of 2026 persists. Revised long-term financial aspirations will be communicated in connection with a Capital Markets Day on 31 October 2025.

    Additional information
    For additional information, please contact:

    Netcompany Group A/S
    Media:
    Jacob Therkelsen, Head of PR and Public Affairs, +45 31 12 67 08

    Investors:
    Thomas Johansen, CFO, + 45 51 19 32 24
    Frederikke Linde, Head of IR, +45 60 62 60 87

    Attachment

    • 16. Netcompany – Completion of the combination between SDC and Netcompany

    The MIL Network –

    July 1, 2025
  • MIL-OSI: CBHH’s Charles Cameron on Financing The Next Generation of Critical Infrastructure – On Navatar’s A-Game Podcast: Sector Focus, Growth Infra, Cross-Border M&A Execution and CRM Value

    Source: GlobeNewswire (MIL-OSI)

    LONDON and NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) — In the latest episode of Navatar’s A-Game podcast, Charles Cameron, Partner at CBHH (Cameron Barney Herbst Hilgenfeldt), shares the firm’s focused approach to sourcing and executing infrastructure financing and M&A opportunities across the UK and continental Europe. The conversation explores how CBHH is helping next-generation infrastructure businesses raise institutional capital and scale across borders

    CBHH is a boutique M&A and corporate finance advisory firm, operating at the intersection of infrastructure and technology—a space the firm refers to as “core+ or value-add infrastructure.” This includes data centres and fiber broadband roll-outs, EV and HGV charging infrastructure, energy generation and storage and smart city technologies—all sectors with proven unit economics, but where companies still face growth-stage operational risk and have considerable demands for capital.

    Core+ Infrastructure

    Cameron explains how CBHH’s business focuses on “next-generation infrastructure” assets—businesses that fall between venture and traditional infrastructure mandates. They’re too small for most large-cap investors, but too capital-intensive for early-stage funds. Yet, these firms are driving “mission critical” infrastructure for the future and therefore, it is important that their funding needs are solved.

    “These companies are capital hungry and operationally intense. But if you understand the unit economics—like take-up rates for fiber or utilization of EV charging—you can underwrite the growth just like with traditional infrastructure,” Cameron notes.

    European Market Dynamics & German Expansion

    Cameron Barney’s post-Brexit merger with German boutique Herbst Hilgenfeldt Partners has given the enlarged firm (“CBHH”) real-time coverage across two of Europe’s most active infrastructure markets.

    “In Europe, decarbonization and digital infra are public priorities. Governments and investors alike are aligned—and we’re specifically positioned as the ‘go to’ firm to advise technology-centric infrastructure scale-ups which are leading that transition,” he says.

    From Advisory to Execution to Capital

    Strong relationships are central to CBBH’s approach. It is notable that CBHH regularly works with companies from their earliest institutional round all the way to large-scale strategic exits. A particular feature is that the firm has also co-invested in past clients—blending traditional merchant banking principles and support for clients with modern M&A execution.

    “We’re not just dropping-in for a transaction. Some clients we’ve advised through 9 or 10 deals—and we have also invested alongside them from the outset. That level of commitment and continuity is rare (in our view), but it’s how we operate and how we have developed deep sector knowledge and relationships.”

    Competing with Bulge Bracket banks

    Despite its boutique size, CBHH punches well above its weight—often winning mandates over global investment banks. Cameron attributes this in part to the global banking heritage and transaction experience of the senior team. He also believes that the firm’s continued success if founded on deep sector knowledge, ongoing senior partner engagement, and agility in the midst of complex transactions.

    “We are the size of a bulge bracket’s sector team—but almost certainly more focused, more aligned, and closer to the client. Our clients always get the A-team, not the associate bench.”

    Scaling Institutional Knowledge with Navatar

    With a growing cross-border team, CBHH chose Navatar’s CRM platform to turn individual relationships into firmwide institutional knowledge.

    “With a growing team and across separate offices, Navatar gives us CRM tool of a bulge-bracket platform, but purpose-built for firms like ours,” observed Cameron.

    “CBHH represents exactly the kind of investment bank redefining sector leadership in today’s private markets,” said Alok Misra, CEO at Navatar. “Their deep expertise in infrastructure, enviable record in transaction execution and long-term client model set them apart. Navatar simply helps surface and scale their institutional knowledge—so every individual in the firm, on every deal can benefit from every insight from their colleagues – and bring the full value of the firm to its mandates.”

    Final Takeaways

    Cameron also shares perspectives on:

    • Why large infra investors may want to engage earlier in an infra lifecycle
    • How operational experience of its partners has made CBHH a stronger advisor
    • Why the firm is leaning into ‘smart city’ infra and exploring ‘natural capital’ opportunities alongside its more traditional sector focus of telecoms and renewable energy infrastructure.
    • How to balance the demands of ‘hands-on’ partner involvement whilst scaling an advisory firm.

    “This is a firm built by ex-Goldman, Morgan Stanley, and UBS bankers—all of whom chose to bring their A game to the next generation of entrepreneurs, facing the challenges of rapid growth and large-scale capital requirements. We bring a distinct discipline and empathy to every client relationship.”

    Listen to the full episode: https://youtu.be/wDJeyzySbTs?si=kG_2nkbM1dQaDmOw

    Learn more about CBHH: www.cbhh.com

    Learn more about on Navatar’s CRM for M&A Advisory & Investment Banking: https://www.navatargroup.com/mergers-and-acquisitions-crm-software/

    About Cameron Barney Herbst Hilgenfeldt

    Cameron Barney Herbst Hilgenfeldt (CBHH) is an independent European investment bank providing financing and M&A advice to fast-growing companies in the ‘infra-tech’ sector including energy transition infrastructure, digital infrastructure, social infrastructure, natural capital and technology.

    About Navatar

    Navatar (@navatargroup), the CRM platform for alternative assets and investment banking firms, is a low-touch, high-impact intelligence engine purpose-built for investment workflows across private markets. Our platform delivers seamless intelligence capture, unifies firmwide relationships, and orchestrates complex deal processes—without requiring high-touch input or behavioral change from investment professionals. Backed by over two decades of CRM expertise, Navatar is used by hundreds of global private markets firms to drive institutional knowledge, create early access to opportunities and streamline execution. For more information, visit www.navatargroup.com.

    Sales Team
    Navatar
    sales@navatargroup.com

    The MIL Network –

    July 1, 2025
  • MIL-OSI: CBHH’s Charles Cameron on Financing The Next Generation of Critical Infrastructure – On Navatar’s A-Game Podcast: Sector Focus, Growth Infra, Cross-Border M&A Execution and CRM Value

    Source: GlobeNewswire (MIL-OSI)

    LONDON and NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) — In the latest episode of Navatar’s A-Game podcast, Charles Cameron, Partner at CBHH (Cameron Barney Herbst Hilgenfeldt), shares the firm’s focused approach to sourcing and executing infrastructure financing and M&A opportunities across the UK and continental Europe. The conversation explores how CBHH is helping next-generation infrastructure businesses raise institutional capital and scale across borders

    CBHH is a boutique M&A and corporate finance advisory firm, operating at the intersection of infrastructure and technology—a space the firm refers to as “core+ or value-add infrastructure.” This includes data centres and fiber broadband roll-outs, EV and HGV charging infrastructure, energy generation and storage and smart city technologies—all sectors with proven unit economics, but where companies still face growth-stage operational risk and have considerable demands for capital.

    Core+ Infrastructure

    Cameron explains how CBHH’s business focuses on “next-generation infrastructure” assets—businesses that fall between venture and traditional infrastructure mandates. They’re too small for most large-cap investors, but too capital-intensive for early-stage funds. Yet, these firms are driving “mission critical” infrastructure for the future and therefore, it is important that their funding needs are solved.

    “These companies are capital hungry and operationally intense. But if you understand the unit economics—like take-up rates for fiber or utilization of EV charging—you can underwrite the growth just like with traditional infrastructure,” Cameron notes.

    European Market Dynamics & German Expansion

    Cameron Barney’s post-Brexit merger with German boutique Herbst Hilgenfeldt Partners has given the enlarged firm (“CBHH”) real-time coverage across two of Europe’s most active infrastructure markets.

    “In Europe, decarbonization and digital infra are public priorities. Governments and investors alike are aligned—and we’re specifically positioned as the ‘go to’ firm to advise technology-centric infrastructure scale-ups which are leading that transition,” he says.

    From Advisory to Execution to Capital

    Strong relationships are central to CBBH’s approach. It is notable that CBHH regularly works with companies from their earliest institutional round all the way to large-scale strategic exits. A particular feature is that the firm has also co-invested in past clients—blending traditional merchant banking principles and support for clients with modern M&A execution.

    “We’re not just dropping-in for a transaction. Some clients we’ve advised through 9 or 10 deals—and we have also invested alongside them from the outset. That level of commitment and continuity is rare (in our view), but it’s how we operate and how we have developed deep sector knowledge and relationships.”

    Competing with Bulge Bracket banks

    Despite its boutique size, CBHH punches well above its weight—often winning mandates over global investment banks. Cameron attributes this in part to the global banking heritage and transaction experience of the senior team. He also believes that the firm’s continued success if founded on deep sector knowledge, ongoing senior partner engagement, and agility in the midst of complex transactions.

    “We are the size of a bulge bracket’s sector team—but almost certainly more focused, more aligned, and closer to the client. Our clients always get the A-team, not the associate bench.”

    Scaling Institutional Knowledge with Navatar

    With a growing cross-border team, CBHH chose Navatar’s CRM platform to turn individual relationships into firmwide institutional knowledge.

    “With a growing team and across separate offices, Navatar gives us CRM tool of a bulge-bracket platform, but purpose-built for firms like ours,” observed Cameron.

    “CBHH represents exactly the kind of investment bank redefining sector leadership in today’s private markets,” said Alok Misra, CEO at Navatar. “Their deep expertise in infrastructure, enviable record in transaction execution and long-term client model set them apart. Navatar simply helps surface and scale their institutional knowledge—so every individual in the firm, on every deal can benefit from every insight from their colleagues – and bring the full value of the firm to its mandates.”

    Final Takeaways

    Cameron also shares perspectives on:

    • Why large infra investors may want to engage earlier in an infra lifecycle
    • How operational experience of its partners has made CBHH a stronger advisor
    • Why the firm is leaning into ‘smart city’ infra and exploring ‘natural capital’ opportunities alongside its more traditional sector focus of telecoms and renewable energy infrastructure.
    • How to balance the demands of ‘hands-on’ partner involvement whilst scaling an advisory firm.

    “This is a firm built by ex-Goldman, Morgan Stanley, and UBS bankers—all of whom chose to bring their A game to the next generation of entrepreneurs, facing the challenges of rapid growth and large-scale capital requirements. We bring a distinct discipline and empathy to every client relationship.”

    Listen to the full episode: https://youtu.be/wDJeyzySbTs?si=kG_2nkbM1dQaDmOw

    Learn more about CBHH: www.cbhh.com

    Learn more about on Navatar’s CRM for M&A Advisory & Investment Banking: https://www.navatargroup.com/mergers-and-acquisitions-crm-software/

    About Cameron Barney Herbst Hilgenfeldt

    Cameron Barney Herbst Hilgenfeldt (CBHH) is an independent European investment bank providing financing and M&A advice to fast-growing companies in the ‘infra-tech’ sector including energy transition infrastructure, digital infrastructure, social infrastructure, natural capital and technology.

    About Navatar

    Navatar (@navatargroup), the CRM platform for alternative assets and investment banking firms, is a low-touch, high-impact intelligence engine purpose-built for investment workflows across private markets. Our platform delivers seamless intelligence capture, unifies firmwide relationships, and orchestrates complex deal processes—without requiring high-touch input or behavioral change from investment professionals. Backed by over two decades of CRM expertise, Navatar is used by hundreds of global private markets firms to drive institutional knowledge, create early access to opportunities and streamline execution. For more information, visit www.navatargroup.com.

    Sales Team
    Navatar
    sales@navatargroup.com

    The MIL Network –

    July 1, 2025
  • MIL-OSI: CBHH’s Charles Cameron on Financing The Next Generation of Critical Infrastructure – On Navatar’s A-Game Podcast: Sector Focus, Growth Infra, Cross-Border M&A Execution and CRM Value

    Source: GlobeNewswire (MIL-OSI)

    LONDON and NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) — In the latest episode of Navatar’s A-Game podcast, Charles Cameron, Partner at CBHH (Cameron Barney Herbst Hilgenfeldt), shares the firm’s focused approach to sourcing and executing infrastructure financing and M&A opportunities across the UK and continental Europe. The conversation explores how CBHH is helping next-generation infrastructure businesses raise institutional capital and scale across borders

    CBHH is a boutique M&A and corporate finance advisory firm, operating at the intersection of infrastructure and technology—a space the firm refers to as “core+ or value-add infrastructure.” This includes data centres and fiber broadband roll-outs, EV and HGV charging infrastructure, energy generation and storage and smart city technologies—all sectors with proven unit economics, but where companies still face growth-stage operational risk and have considerable demands for capital.

    Core+ Infrastructure

    Cameron explains how CBHH’s business focuses on “next-generation infrastructure” assets—businesses that fall between venture and traditional infrastructure mandates. They’re too small for most large-cap investors, but too capital-intensive for early-stage funds. Yet, these firms are driving “mission critical” infrastructure for the future and therefore, it is important that their funding needs are solved.

    “These companies are capital hungry and operationally intense. But if you understand the unit economics—like take-up rates for fiber or utilization of EV charging—you can underwrite the growth just like with traditional infrastructure,” Cameron notes.

    European Market Dynamics & German Expansion

    Cameron Barney’s post-Brexit merger with German boutique Herbst Hilgenfeldt Partners has given the enlarged firm (“CBHH”) real-time coverage across two of Europe’s most active infrastructure markets.

    “In Europe, decarbonization and digital infra are public priorities. Governments and investors alike are aligned—and we’re specifically positioned as the ‘go to’ firm to advise technology-centric infrastructure scale-ups which are leading that transition,” he says.

    From Advisory to Execution to Capital

    Strong relationships are central to CBBH’s approach. It is notable that CBHH regularly works with companies from their earliest institutional round all the way to large-scale strategic exits. A particular feature is that the firm has also co-invested in past clients—blending traditional merchant banking principles and support for clients with modern M&A execution.

    “We’re not just dropping-in for a transaction. Some clients we’ve advised through 9 or 10 deals—and we have also invested alongside them from the outset. That level of commitment and continuity is rare (in our view), but it’s how we operate and how we have developed deep sector knowledge and relationships.”

    Competing with Bulge Bracket banks

    Despite its boutique size, CBHH punches well above its weight—often winning mandates over global investment banks. Cameron attributes this in part to the global banking heritage and transaction experience of the senior team. He also believes that the firm’s continued success if founded on deep sector knowledge, ongoing senior partner engagement, and agility in the midst of complex transactions.

    “We are the size of a bulge bracket’s sector team—but almost certainly more focused, more aligned, and closer to the client. Our clients always get the A-team, not the associate bench.”

    Scaling Institutional Knowledge with Navatar

    With a growing cross-border team, CBHH chose Navatar’s CRM platform to turn individual relationships into firmwide institutional knowledge.

    “With a growing team and across separate offices, Navatar gives us CRM tool of a bulge-bracket platform, but purpose-built for firms like ours,” observed Cameron.

    “CBHH represents exactly the kind of investment bank redefining sector leadership in today’s private markets,” said Alok Misra, CEO at Navatar. “Their deep expertise in infrastructure, enviable record in transaction execution and long-term client model set them apart. Navatar simply helps surface and scale their institutional knowledge—so every individual in the firm, on every deal can benefit from every insight from their colleagues – and bring the full value of the firm to its mandates.”

    Final Takeaways

    Cameron also shares perspectives on:

    • Why large infra investors may want to engage earlier in an infra lifecycle
    • How operational experience of its partners has made CBHH a stronger advisor
    • Why the firm is leaning into ‘smart city’ infra and exploring ‘natural capital’ opportunities alongside its more traditional sector focus of telecoms and renewable energy infrastructure.
    • How to balance the demands of ‘hands-on’ partner involvement whilst scaling an advisory firm.

    “This is a firm built by ex-Goldman, Morgan Stanley, and UBS bankers—all of whom chose to bring their A game to the next generation of entrepreneurs, facing the challenges of rapid growth and large-scale capital requirements. We bring a distinct discipline and empathy to every client relationship.”

    Listen to the full episode: https://youtu.be/wDJeyzySbTs?si=kG_2nkbM1dQaDmOw

    Learn more about CBHH: www.cbhh.com

    Learn more about on Navatar’s CRM for M&A Advisory & Investment Banking: https://www.navatargroup.com/mergers-and-acquisitions-crm-software/

    About Cameron Barney Herbst Hilgenfeldt

    Cameron Barney Herbst Hilgenfeldt (CBHH) is an independent European investment bank providing financing and M&A advice to fast-growing companies in the ‘infra-tech’ sector including energy transition infrastructure, digital infrastructure, social infrastructure, natural capital and technology.

    About Navatar

    Navatar (@navatargroup), the CRM platform for alternative assets and investment banking firms, is a low-touch, high-impact intelligence engine purpose-built for investment workflows across private markets. Our platform delivers seamless intelligence capture, unifies firmwide relationships, and orchestrates complex deal processes—without requiring high-touch input or behavioral change from investment professionals. Backed by over two decades of CRM expertise, Navatar is used by hundreds of global private markets firms to drive institutional knowledge, create early access to opportunities and streamline execution. For more information, visit www.navatargroup.com.

    Sales Team
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    The MIL Network –

    July 1, 2025
  • MIL-Evening Report: Preventive versus pre-emptive strikes.

    Headline: Preventive versus pre-emptive strikes. – 36th Parallel Assessments

    Photo credit: Reuters.

    Conceptual clarity is important in any context but especially when it comes to international relations, foreign policy and the initiation of conflict. Recent events in the Middle East have shown once again how clarity in the use of words is often deliberately obfuscated in pursuit of political agendas.

    Unlike what is being reported in the corporate media and by some Western defense officials, the Israeli strike on Iran was not “pre-emptive.” “Pre-emptive” means “a sudden strike thwarting an imminent attack.” That is not the case here. Iran was not about to imminently attack Israel before Israel, and then the US, attacked it. What Israel did was a preventive attack designed to degrade Iran’s nuclear R&D/storage facilities, missile launcher sites and command and control capabilities. The IDF attack focused on preventing and delaying development of Iran’s nuclear strike capability before it reached operational status and was telegraphed in advance (remember the US pulling out embassy staff and military families from facilities in the Middle East in anticipation of an tit-for-tat Iranian response). Both suspected weapons-grade nuclear stores as well as launching platforms were on the target list, as were those responsible for them. The US then followed up with some preventive strikes of its own, using so-called “bunker buster” bombs to penetrate deep into suspected Iranian nuclear development and storage sites. The Iranians responded by lobbing some short and medium-range missiles in the direction of the main US base in Qatar.

    Just like his response to October 7 with the ethnic cleansing of Gaza and expansion of illegal settlements in the West Bank, Netanyahu has seized his moment of opportunity because, quite frankly, he can. No one will stop him (certainly not the Iranians) and the US backs him, with most of the West tacitly supporting Israel with their silence or tepid responses to the conflict. This, I suspect, is due to Israel’s value as an intelligence partner of the West as much as any other reason.

    The preventive nature and targets of the strikes may have helped moderate the Iranian response. On the other hand, killing the Revolutionary Guard Commander and Deputy Commander is a serious affront that will require a response in order for the Iranian regime to save face among its domestic audiences. So the escalation scenario is real, albeit not as bad as it could be. What is clear is that unlike preemptive attacks, the Israeli and US preventive attacks had no justification in the Laws of War (jus ad bellum) and were therefore illegal under International law. One might understand why the Israelis and US conducted the strikes and there is plenty of precedent for them, but that does not make them legal.

    Deliberate conflation of the terms “pre-emptive” with “preventive” by security officials and media is either a product of conceptual ignorance or deliberate obfuscation in pursuit of  legalistic white-washing of a blatant violation of international law. If the latter is true we know why they do it, but that does not mean that we have to accept they’re doing so.

    Analysis syndicated by 36th Parallel Assessments –

    MIL OSI Analysis – EveningReport.nz –

    July 1, 2025
  • MIL-Evening Report: Preventive versus pre-emptive strikes.

    Headline: Preventive versus pre-emptive strikes. – 36th Parallel Assessments

    Photo credit: Reuters.

    Conceptual clarity is important in any context but especially when it comes to international relations, foreign policy and the initiation of conflict. Recent events in the Middle East have shown once again how clarity in the use of words is often deliberately obfuscated in pursuit of political agendas.

    Unlike what is being reported in the corporate media and by some Western defense officials, the Israeli strike on Iran was not “pre-emptive.” “Pre-emptive” means “a sudden strike thwarting an imminent attack.” That is not the case here. Iran was not about to imminently attack Israel before Israel, and then the US, attacked it. What Israel did was a preventive attack designed to degrade Iran’s nuclear R&D/storage facilities, missile launcher sites and command and control capabilities. The IDF attack focused on preventing and delaying development of Iran’s nuclear strike capability before it reached operational status and was telegraphed in advance (remember the US pulling out embassy staff and military families from facilities in the Middle East in anticipation of an tit-for-tat Iranian response). Both suspected weapons-grade nuclear stores as well as launching platforms were on the target list, as were those responsible for them. The US then followed up with some preventive strikes of its own, using so-called “bunker buster” bombs to penetrate deep into suspected Iranian nuclear development and storage sites. The Iranians responded by lobbing some short and medium-range missiles in the direction of the main US base in Qatar.

    Just like his response to October 7 with the ethnic cleansing of Gaza and expansion of illegal settlements in the West Bank, Netanyahu has seized his moment of opportunity because, quite frankly, he can. No one will stop him (certainly not the Iranians) and the US backs him, with most of the West tacitly supporting Israel with their silence or tepid responses to the conflict. This, I suspect, is due to Israel’s value as an intelligence partner of the West as much as any other reason.

    The preventive nature and targets of the strikes may have helped moderate the Iranian response. On the other hand, killing the Revolutionary Guard Commander and Deputy Commander is a serious affront that will require a response in order for the Iranian regime to save face among its domestic audiences. So the escalation scenario is real, albeit not as bad as it could be. What is clear is that unlike preemptive attacks, the Israeli and US preventive attacks had no justification in the Laws of War (jus ad bellum) and were therefore illegal under International law. One might understand why the Israelis and US conducted the strikes and there is plenty of precedent for them, but that does not make them legal.

    Deliberate conflation of the terms “pre-emptive” with “preventive” by security officials and media is either a product of conceptual ignorance or deliberate obfuscation in pursuit of  legalistic white-washing of a blatant violation of international law. If the latter is true we know why they do it, but that does not mean that we have to accept they’re doing so.

    Analysis syndicated by 36th Parallel Assessments –

    MIL OSI Analysis – EveningReport.nz –

    July 1, 2025
  • MIL-OSI China: China’s bond market issuances reach 7.2 trillion yuan in May

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

    People walk on an overpass in Lujiazui, a finance zone in Shanghai, east China, Nov. 3, 2023. [Photo/Xinhua]

    Bond issuances in China neared 7.2 trillion yuan (about 1 trillion U.S. dollars) in May this year, data from the country’s central bank shows.

    Specifically, issuances of treasury bonds came in at 1.49 trillion yuan, while local government bond issuances amounted to 779.44 billion yuan, according to the People’s Bank of China.

    Financial bond issuances stood at 1.22 trillion yuan, and corporate credit bond issuances reached 902.27 billion yuan.

    Outstanding bonds held in custody came in at 187.2 trillion yuan at the end of May. 

    MIL OSI China News –

    July 1, 2025
  • Amit Shah chairs ‘Manthan Baithak’ to mark International Year of Cooperatives 2025

    Source: Government of India

    Source: Government of India (4)

    Union Home Minister and Minister of Cooperation, Amit Shah, chaired a “Manthan Baithak” with Cooperation Ministers from all States and Union Territories in New Delhi on Monday. The meeting was organised to commemorate the International Year of Cooperatives (IYC) 2025 and was hosted by the Ministry of Cooperation.

    In his address, Shah said that Prime Minister Narendra Modi established the Ministry of Cooperation to revive India’s long-standing tradition of cooperation while addressing present-day needs.

    Highlighting the transformative work done over the past decade, Shah said, “When the Modi government came to power in 2014, nearly 60 to 70 crore people lacked basic facilities and had lived for generations in scarcity. In ten years, the government has provided housing, toilets, drinking water, food grains, healthcare, gas cylinders, and other essential facilities to crores of people.”

    He added that those who had benefited now aspired to become entrepreneurs but lacked sufficient capital. “For them, cooperation is the only way to do meaningful work with their limited resources,” he said, stressing that cooperation is vital for employment generation in a country of 140 crore people.

    Shah emphasised the need to revitalise cooperation for the welfare of small farmers and rural communities, noting that the sector holds vast potential. “With sensitivity, we must bring cooperation back to life,” he said.

    He also shared that the Government of India has launched 60 initiatives to ensure that every citizen secures employment and lives with dignity. One key step, he said, is the creation of the National Cooperative Database to identify gaps and ensure that every village has at least one cooperative institution. “Our goal is that within five years, there should not be a single village in the country without a cooperative,” Shah said.

    He pointed out three main reasons for the weakening of the cooperative movement in the past: outdated laws, lack of expansion, and nepotism in recruitments. “The Modi government has amended the laws and conceived the idea of the Tribhuvan Sahkari University to train cooperative personnel,” he said. He urged every state to establish at least one cooperative training institution affiliated with the Tribhuvan Sahkari University to strengthen the training system.

    Shah said that a new National Cooperative Policy will be introduced soon, covering the period from 2025 to 2045, leading up to the centenary of India’s independence. He said, “Under this policy, each state will prepare its own cooperative policy according to local needs and conditions. Every state should announce its cooperative policy before January 31, 2026.”

    He also called for discipline, innovation and transparency in the sector through the Model National Cooperative Policy Act. Stressing the importance of timely implementation, he said the target of setting up two lakh Primary Agricultural Credit Societies (PACS) for the financial year 2025–26 must be achieved by February next year.

    “Now that cooperative banks come under the Banking Act, and the Reserve Bank of India has shown flexibility, remaining issues can only be resolved if we run these banks transparently and recruit staff based on merit,” he said, underlining the need for transparency in Credit Cooperative Societies and Urban Cooperative Banks.

    Promoting natural farming was another key area of focus. Shah urged all State Cooperation Ministers to work with their Agriculture counterparts to encourage natural farming, which, he said, would benefit both public health and the environment.

    He further said that ‘Cooperation Amongst Cooperatives’ has been a proven and successful model in Gujarat and should be replicated nationwide. “This initiative is crucial for building national capacity and strengthening cooperatives across India,” he added.

    The meeting also discussed progress on setting up two lakh Multi-Purpose Primary Agricultural Credit Societies (M-PACS) and the promotion of dairy and fisheries cooperatives to boost rural service delivery. The implementation of the world’s largest grain storage scheme in the cooperative sector was reviewed in detail.

     

    July 1, 2025
  • Indian stock market opens higher, Nifty above 25,500

    Source: Government of India

    Source: Government of India (4)

    The Indian benchmark indices opened higher on Tuesday amid positive global cues, with buying seen in the auto and IT sectors in early trade.

    At around 9:26 a.m., the Sensex was trading 188.66 points, or 0.23 per cent, higher at 83,795.12, while the Nifty rose 54.80 points, or 0.21 per cent, to 25,571.85.

    According to analysts, with US markets hitting new record highs, the mood in global equities remains upbeat, and West Asian geopolitical tensions are no longer perceived as a threat to the global economy.

    “Going forward, the market is likely to be influenced by developments on the tariff front. An India-US trade deal will be positive, but if it does not materialise, the market is likely to be impacted,” said Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    The Nifty Bank index was up 51.95 points, or 0.09 per cent, at 57,364.70 in early trade. The Nifty Midcap 100 index was trading at 59,887.65 after adding 146.45 points, or 0.25 per cent. The Nifty Smallcap 100 index rose 52.50 points, or 0.28 per cent, to 19,127.60.

    Experts noted that the Nifty’s short-term trend remains positive, as it continues to hold above its nearest moving average support, the 5-day EMA.

    “The Nifty has partially filled the gap in the 25,640–25,740 range that was formed on October 3, 2024. Any move and close above 25,740 would negate this gap resistance and could potentially extend the Nifty’s upward rally towards the 26,000 mark. Immediate support for the Nifty comes in at 25,400,” said Devarsh Vakil, Head of Prime Research at HDFC Securities.

    In the Sensex pack, Asian Paints, BEL, Bharti Airtel, HDFC Bank, PowerGrid, ITC, HCL Tech, Tata Motors, and Hindustan Unilever Limited were among the top gainers. Axis Bank, Trent, Tata Steel, Sun Pharma, Tech Mahindra, Maruti Suzuki, and Eternal were the top laggards.

    Experts said that the strong fundamentals of the Indian economy could attract increased fund flows into Indian equities. Sustained weakness in the dollar (with the dollar index now at 96.81) means the likelihood of heavy selling by foreign institutional investors (FIIs) is low; they may even continue to buy despite high valuations.

    FIIs were net sellers on June 30, offloading equities worth Rs 831.50 crore, while domestic institutional investors (DIIs) remained net buyers, purchasing equities worth Rs 3,497.44 crore.

    In Asian markets, China, Bangkok, Seoul, and Jakarta were trading in the green, while Japan was the only market trading in the red.

    In the previous trading session, the Dow Jones in the US closed at 44,094.77, up 275.50 points, or 0.63 per cent. The S&P 500 ended with a gain of 31.87 points, or 0.52 per cent, at 6,204.94, while the Nasdaq closed at 20,369.73, up 96.27 points, or 0.47 per cent.

    —IANS

    July 1, 2025
  • MIL-OSI Russia: China’s bond market issuance in May totaled nearly 7.2 trillion yuan

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    BEIJING, July 1 (Xinhua) — A total of 7.195 trillion yuan (about 1 trillion U.S. dollars) in debt was issued in China’s bond market in May 2025, according to the latest data from the People’s Bank of China (PBOC, the central bank).

    In particular, the volume of government bond issuance amounted to 1.49 trillion yuan, and local government bonds amounted to 779.44 billion yuan.

    In addition, financial bonds worth 1.22 trillion yuan and unsecured corporate bonds worth 902.27 billion yuan were also issued during the reporting period.

    The balance of funds under trust management in the bond market at the end of May was 187.2 trillion yuan. -0-

    MIL OSI Russia News –

    July 1, 2025
  • MIL-OSI Australia: Press Conference – Bankstown

    Source: Murray Darling Basin Authority

    PROFESSOR GEORGE WILLIAMS, VICE-CHANCELLOR AND PRESIDENT OF WESTERN SYDNEY UNIVERSITY: I’d like to begin by acknowledging the people of the Dharug Nation and pay my respects to elders past and present, and particularly welcome Minister Jason Clare, the Education Minister, Mary O’ Kane, we’ve also got Andrew Giles here as well; Emeritus Professor Barney Glover and we’ve got Professor Geoff Lee as well from WSU.

    I’m delighted that this is the first day of ATEC here on our Bankstown campus. It’s a particularly important place to recognise the start of ATEC. We’re going to have TAFE moving into this building shortly and I’m looking forward to our students whizzing up and down the lifts. I’m delighted to see a lot of our students here today as well, studying education. From our point of view, we’re really committed as a university to delivering on the Accord. We see ourselves as the university of the Accord that will make sure we reach our targets of 1.8 million people by 2050 studying at university. That gets us from 45 to 55 per cent of students studying a bachelor’s degree. And we know here what is needed to get those students into study, particularly equity students, and to give them the opportunities that they deserve.

    I’d also say, though, what we’re seeing at Western as the Accord recognised, is that there are problems with the system that are getting in the way of us being able to deliver on that ambitious goal. We’ve seen 10 to 15 per cent decreases in the number of students from low SES and also equity backgrounds, such as first in family coming to university. And so, for us today, this is a really important announcement because it marks the opportunity to start fixing a broken system so that every student, irrespective of their postcode, irrespective of their background, has the opportunity to world world-class university education.

    From our point of view, we look forward to working with the Minister in ATEC, particularly to fix the Job-ready Graduates programme, which is means a $50,000 arts cost of a degree for many of our students and that’s actively dissuading our students from studying at university. We also know that it needs to go beyond the really good package that reduces student debt to actually dealing with the fees in the first place to make sure that students can afford to come to university. We also look forward to working with ATEC, particularly on international students. They are critical contributors to the Western Sydney economy, particularly nurses and other areas where we’re dealing with critical shortages. And in our case, 24 cents in every dollar paid by an international student supports an Australian student in their study. They support food, equity programmes and the like. And again, we look forward to contributing there. So, from our point of view, we’re really delighted here at Bankstown on this historic day. I’d also like particularly to acknowledge Barney, whose vision led to this building some years ago. And we’re pleased to be here, pleased to support ATEC and look forward to supporting its work.

    JASON CLARE, MINISTER FOR EDUCATION: Thanks very much, George. And this is really the perfect place to launch the Australian Tertiary Education Commission. As George mentioned, this is the vision of Barney in many senses. This building emerged out of the ground over the course of COVID and now stands as the tallest building in Bankstown, with that big sign at the top saying Western Sydney University. And I said when this building was officially opened a couple of years ago that this is more than just a building, it’s a beacon. When those lights shine brightly over Bankstown every night, people see it. I know the students here would see it. And I hope that young people right across our community see it and think, well, maybe university is for me as well.

    When I was a kid growing up in Western Sydney, university was somewhere else. And for a lot of kids that I went to school with, university felt like it was for someone else, that it was not for kids in the western suburbs of Sydney. There was lots of Macca’s logos, lots of KFC logos, lots of Westfield logos, not a lot of university logos. That’s now changing, and that’s important if we’re going to break down that invisible barrier that stops a lot of young people from giving university a crack in the first place. And that’s a big part of what the Universities Accord was about. It’s also a big part of what ATEC is about. And as you just mentioned a moment ago, George, something else exciting is about to happen here at this fantastic building, and that is, from January next year, Bankstown TAFE is moving in. The top eight floors of this building will be occupied by students from Bankstown TAFE that are just across the road at the moment. And so, from next year, in one building, you’re going to have TAFE and university all under one roof. That sends a really important message as well, about making sure that our tertiary education system is more joined up, that we’re working together, that we’re making it easier for students to move between TAFE and university. And again, that’s a really big part of what the Universities Accord report was all about, about trying to break down that artificial barrier that stops a lot of people from moving from one part of the system to another.

    The Universities Accord report was released just over a year ago and it’s a really important piece of work. And I want to thank Professor Mary O’ Kane in particular, and the team that she led for producing that report for the nation. It’s a blueprint for how we reform higher education for the next decade and beyond. And we’ve now started the process of implementing its recommendations. That includes things like university study hubs in our regions and in our suburbs. It includes fee-free university courses, those bridging courses that help young people – that might have finished school, but they’re not ready for uni yet – to do a free course to get ready to start a university degree. It includes the changes we’re making to HECS. We’ve made changes to indexation last year. In a couple of weeks, I’ll introduce legislation into the Parliament that will cut the student debt of 3 million Australians by 20 per cent, including the students that are here with us today.

    And it also includes paid prac for the first time ever. From today, the Australian Government will be investing in providing financial support for teaching students, for nursing students, for midwifery students, and for social work students while they do the practical part of their training. It’s worth almost half a billion dollars and it’s real practical support while you do your practical training. These are young people who are going to teach our children, who are going to look after us when we’re sick, who are going to help women during childbirth, help women fleeing domestic violence, some of the most important jobs in this country. And this is real practical help to help with the practical part of their degree.

    And today something else happens, something else from the Accord comes to life. And that’s the establishment of the Australian Tertiary Education Commission. And its real purpose is to drive long term reform. Implementing the Accord is the job of more than just one minister or two ministers or, or one government or two governments. It’s long-term reform, and that requires a steward that’s going to drive and implement reform over the next decade and beyond. And that’s why Mary and the team recommended it. That’s why the government is implementing it. From today, an interim Australian Tertiary Education Commission comes to life while we introduce legislation to make it permanent. And the people who recommended it are the people who are going to help to bring it to life. I’m bringing the band back together.

    Professor Mary O’ Kane, thank you for agreeing to be the interim chair of, well, the chair of the interim ATEC. Barney, you’re sort of wearing a semi hat here as the head of JSA, but helping us as one of the commissioners as well. And Larissa Behrendt, distinguished Professor Larissa Behrendt, who’s not with us today, but has also agreed to be one of the commissioners of the interim ATEC. It’s about getting the people who recommended this to help bring it to life, to lift words off the page and make this real. As George pointed out, the role of the ATEC is critical. It’s about making the system more joined up. It’s about compacts with universities about what they do. It’s about striking funding agreements with universities to implement the important work that universities do in different parts of the country. Not every university needs to be the same or do the same thing and the ATEC will be critical in that and providing advice to us on the cost of courses and the funding of courses and the costs that students pay. So, this is really important and it’s not just about universities. We called this the Australian Tertiary Education Commission for a reason, because we want to look at the whole system, make sure that it’s more joined up and working together. And so, this body reports to both of us, Minister for Education and the Minister for Skills. And I’d ask Andrew to say a few words.

    ANDREW GILES, MINISTER FOR SKILLS AND TRAINING: Yeah, thanks very much, Jason. This is a really important day. Jason, you’ve just been talking about long term reform. Well, I’m conscious that people have been talking about harmonisation in tertiary education for a very, very long time. But today it becomes concrete, with the interim Australian Tertiary Education Committee taking its first steps. And I really do look forward to hearing from Mary and from Barney in a few minutes about the journey to date and the journey going forward.

    Because this is long term reform that has been a long time in the making but is absolutely fundamental for the reasons that Jason set out. But also as we think about the needs of the Australian economy today and into the future, I’m very conscious that Jobs and Skills Australia are telling us that nine in 10 jobs require some form of post compulsory qualification and that amongst those there’s roughly a 50/50 split between those that require a university degree and those that require vocational education and training. So, when I think about that split, I think about how important it is that we’re standing right here in Bankstown, in your electorate Jase, in a building that will very shortly bring that vision to physical life with the proximity of TAFE and university students. And that’s a symbol also of a big part of the ongoing work of the ATEC about building clearer pathways between vocational and university education, breaking down some of those barriers, because there’s really two barriers that we’re talking about here. The ones that are preventing too many Australians from accessing university or vocational pathways, and those that are stopping people from being the adaptive learners that they want to be and which our economy demands. So, there’s really important work in two respects for the ATEC to get underway.

    I feel really excited, though, to be at the ground floor of this great long-term enterprise as we seek to do two things. We seek to support a labour market that works for Australia to grow the Australian economy, to make sure that there’s a better fit between the jobs that are out there and the pathways that we are offering and making accessible to young and indeed not so young Australians. And on the other hand, to make sure that every Australian can access the skills they want for a fulfilling, rewarding and secure job into the future. So, today we take a really big step forward. It’s a step that’s really all about partnership. I’m thrilled to work so closely with Jason in his capacity as Minister for Education. I’m thrilled to work with people across the sector, whether it’s in vocational education, whether it’s in university, whether it’s employers, whether it’s unions, whether it’s experts, to make sure that we have an education system that is fit for purpose. And when I say fit for purpose, that’s fit for the needs of our economy and fit to meet the needs and the aspirations of every Australian in every corner of this great country. With that, I’m really pleased to hand over to Mary O’ Kane, who really in, in many senses is the architect of this vision and then will take on board stewardship of seeing it realised. So, thank you, Mary.

    MARY O’KANE, CHIEF COMMISSIONER OF THE INTERIM AUTRALIAN TERTIARY EDUCATION COMMISSION: Thank you, Minister. Well, this is a very exciting day and it’s particularly thrilling to have a group of teaching students here. You’re the symbol of why we worked hard on the Accord and why we’re so thrilled that the Tertiary Education Commission is starting. It’s actually starting again. A little bit of a history lesson. It actually was the Labor Government at the end of the war established it. It was then picked up by the Menzies Government, the Liberal Government after that, and added to, and went for a long time to 1988. And there hasn’t been one for a while. But in the Accord work, we determined that you really need something that interprets the higher education system to the community, to government, and that can listen to the higher education system and interpret that back. So, if you like, it’s a whisperer, it’s the higher education whisperer for the nation.

    And like the commission of post the Second World War, this one has some really big things to advise government on. We just heard Minister Giles talk about the importance of the national economy. And unless we have the right skills, we won’t have the economy or the society we want. And this is really about growing that skills base enormously, growing the types of skills, modernising them, but also making sure that we have the right pathways, we have the right and above all, the numbers going in. And we’re not going to get the numbers into higher education unless we have different mechanisms to the ones we have now. It’s not just about people going to school and going on to higher ed; it’s about people being able to come back in to do university later in life. It’s about going through different pathways. And this is why there’s a lot about access in the Accord and that we’ll be trying to enliven in the Tertiary Education Commission. So, how can people have done really good courses at TAFE, go to university and the other way around?

    When I was in South Australia, we had, one of the favourite things people would do, would do a degree in history at one of the universities and then go to Regency TAFE and do a hospitality qualification. And that combination was a really good one for the tourism industry and so on. So, it’s very exciting to be part of this sort of new, looking at new ways to realise a much larger higher education system, even stronger knowledge system than we have in Australia. A new, the economy being stronger and our place in the sort of international system, you know, being even more marked than it is at present. And so, I hope that for you, you’ll be measuring us. I hope you’ll be looking at the Tertiary Education Commission and saying, yes, it’s doing what I want or it’s not, and if not, I hope you’ll come and talk to us, because it’s very much an open for business, talking to the students, talking to the universities and passing it all on to government. So, thank you for being here today while we celebrate. And I’ll do a shout out to Larissa. Hopefully she’s watching on some sort of thing. She’s up in Yucala with a range of Indigenous students who are there with her and filming for various things. So, thank you very much. I should have said we’d talk to Barney.

    BARNEY GLOVER, JOBS AND SKILLS AUSTRALIA COMMISSIONER: You probably, you could not stop me. Thank you, Mary, for those words. I want to particularly thank the two ministers that are here today. My minister, Andrew Giles, Minister for Skills and Training in Australia. The real energy behind what Andrew wants to achieve, to transform the Australian vocational education and training system to support the labour market we need now and into the future and the work that Jason Clare has done as Minister for Education to bring the ATEC today into fruition to support the Accord and to see today not just the ATEC established and for Mary to lead this implementation phase with the support of Larissa and myself, but so many other aspects of the Accord recommendations that the government’s already picked up and are in place. And placement payments today for those students you mentioned across nursing, midwifery, social work and teaching, to receive the benefit they need to avoid poverty in placements is a wonderful achievement of the accord and congratulations to the government.

    There are a number of reasons why I think this is a really important day. It’s not just that two ministers are here that’s significant in itself. I want to congratulate George for the work that Western Sydney has done to take this building, to make it what I believe will be one of the most important dual sector enterprises in higher education and vocational education training in Australia. When those TAFE students are here next year, this will be as big as most dual-sector universities in Australia. So, it will be in itself a great opportunity to press what joined up means for tertiary education Australia to have a harmonised tertiary education system in this country and to do it in ways we haven’t been able to do before. So, there’s a challenge here for TAFE NSW and for George and for Michelle Simons, who does a wonderful job here as the Dean of the School of Education. A wonderful challenge to say, what can we do differently? What can we do better? How can we ensure that we produce graduates from higher ed and those who complete vet qualifications with the skills and knowledge they need for the economy of the future, as Mary said, because there are wonderful opportunities in the future for all Australians, but we’ve got to match up our skills and our jobs.

    It’s one thing that Jobs and Skills Australia has been saying for some time, we need a joined up tertiary education system. We need to better match our skills from our education and training into our job market. We need to recognise that increasingly we need post-secondary qualifications for the future. And as Minister Giles said, we’ve got to get the balance right between higher education and vet. And that’s not about different ways of cutting the same cake. It’s growing this cake. And that really means. And this is another reason why it’s exciting to be here in Bankstown, because as Mary said, we’ve got to uplift more Australians to participate in post-secondary education more than we’ve ever done before. And that means reaching into equity, in first in family, as George said, students from a low socio-economic background, First Nations Australians. I pay tribute to the work that Larissa has done to make First Nations Australians at the centre of the Accord and at the centre of the ATEC. And she does a wonderful job in supporting that. And people with disability and other equity groups, we need to make sure they’re fully represented.

    So, this is a great place to do this. It was a great place to build this building. Not just that it was 50 metres from the Minister for Education’s electoral office. That was just an additional benefit, but to put it here in the South-West of Sydney and to reach out to these communities and say it’s not just higher education, tertiary education is in reach and it will be transformational and it will ensure that this region has the economic uplift and the social and cultural benefits that tertiary education can bring. Exciting day. Well done to everyone. Thank you.

    CLARE: Can I just make some comments on reports this morning of alleged sexual assault of children in childcare centres in Victoria. This morning I’ve spoken to Lizzie Blandthorn, the Minister for Children. I’ve also spoken to Tim Watts, member for Gellibrand, in the area where some of these child care centres are located in Victoria. This is extremely serious. There is nothing more serious than this. The alleged perpetrator is in custody right now, but this is one of the reasons why this was top of the agenda when education ministers met in Adelaide on Friday. It’s one of the reasons why we’ve banned the use of personal mobile phones in childcare centres. It’s one of the reasons why we’ve made mandatory reporting of physical and sexual assaults in childcare centres a requirement within 24 hours rather than seven days. It’s one of the reasons why I will bring legislation to the Federal Parliament in the next few months to cut off funding to childcare centres that aren’t up to scratch. And as I said, it’s one of the reasons why this was top of the agenda when education ministers met on Friday to look at what are the next steps that we need to take to make sure that our children are safe in child care centres. There are more than 1 million parents who rely on our early education and care system to care for our children, to educate our children and to keep our children safe. This is personal for me because I’m one of those parents and there is nothing more important to me than making sure that we take every step we need to take to keep our kids safe. Thanks very much.

    MIL OSI News –

    July 1, 2025
  • MIL-OSI New Zealand: Reserve Bank Board appointments announced

    Source: New Zealand Government

    Former Acting Governor Grant Spencer has been appointed to the Reserve Bank of New Zealand Board, Finance Minister Nicola Willis has announced.
    Board member Byron Pepper has been reappointed. Both are on five-year terms, beginning today.
    “Grant Spencer brings expertise in central banking, financial stability, and monetary policy,” Nicola Willis says.
    Spencer also served as Deputy Governor, Head of Financial Stability from 2007 to 2017 and was Acting Governor from 2017 to 2018.
    Nicola Willis says Byron Pepper’s reappointment reflects his contribution to the Reserve Bank Board.
    “Mr Pepper has recently been made chairman of the RBNZ’s Financial Stability Oversight Committee. He is an experienced investment banking advisor and director with more than 25 years of experience, including 22 years at Goldman Sachs, bringing expertise in corporate strategy, financial services, and insurance.”
    Nicola Willis also acknowledged the contribution of Rawinia Higgins, who retired from the Board effective June 30.
    There remains one vacancy on the Board, which will be filled in due course.

    MIL OSI New Zealand News –

    July 1, 2025
  • MIL-OSI Banking: Money Market Operations as on June 30, 2025

    Source: Reserve Bank of India


    (Amount in ₹ crore, Rate in Per cent)

      Volume
    (One Leg)
    Weighted
    Average Rate
    Range
    A. Overnight Segment (I+II+III+IV) 6,12,012.57 5.41 3.50-5.80
         I. Call Money 13,225.85 5.50 4.75-5.70
         II. Triparty Repo 3,96,463.00 5.42 5.10-5.52
         III. Market Repo 2,00,456.17 5.38 3.50-5.75
         IV. Repo in Corporate Bond 1,867.55 5.67 5.64-5.80
    B. Term Segment      
         I. Notice Money** 62.73 5.19 5.00-5.25
         II. Term Money@@ 250.00 – 5.80-5.80
         III. Triparty Repo 7,727.30 5.52 5.25-5.70
         IV. Market Repo 0.00 – –
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Mon, 30/06/2025 1 Tue, 01/07/2025 5,705.00 5.75
    4. SDFΔ# Mon, 30/06/2025 1 Tue, 01/07/2025 1,89,751.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,84,046.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Fri, 27/06/2025 7 Fri, 04/07/2025 84,975.00 5.49
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       7,247.29  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -77,727.71  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -2,61,773.71  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on June 30, 2025 10,15,732.28  
         (ii) Average daily cash reserve requirement for the fortnight ending July 11, 2025 9,52,318.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ June 30, 2025 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on June 13, 2025 5,62,116.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/632

    MIL OSI Global Banks –

    July 1, 2025
  • MIL-OSI China: US stocks extend gains to conclude first half of 2025

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

    U.S. stocks continued to climb higher on Monday as signs of progress in trade negotiations buoyed investor sentiment, closing out one of the most volatile first halves in recent years.

    The Dow Jones Industrial Average rose 275.50 points, or 0.63 percent, to 44,094.77. The S&P 500 added 31.88 points, or 0.52 percent, to 6,204.95. The Nasdaq Composite Index increased 96.28 points, or 0.47 percent, to 20,369.73.

    Nine of the 11 primary S&P 500 sectors ended higher, with technology and financials leading the advance by rising 0.98 percent and 0.86 percent, respectively. Consumer discretionary and energy lagged behind, falling 0.86 percent and 0.66 percent.

    Monday’s gains came after Canada announced it would withdraw its digital services tax, a move widely seen as an effort to smooth relations with the United States just days after U.S. President Donald Trump declared an end to all trade discussions with Ottawa. The tax, which was set to take effect Monday, would have targeted major tech firms such as Google, Meta, and Amazon.

    Market participants are now looking ahead to the expiration of Trump’s 90-day tariff pause next week. Also on Monday, U.S. Treasury Secretary Scott Bessent said some countries are “negotiating in good faith,” though he warned that tariffs could return to previously announced levels if talks falter.

    Meanwhile, attention turned to the U.S. Senate, where lawmakers began a marathon session to debate amendments to Trump’s proposed 4.5 trillion U.S. dollars tax package. The Congressional Budget Office projected the bill could add 3.3 trillion dollars to the federal deficit over the next ten years.

    Despite the looming tariff deadline and uncertainty surrounding the tax legislation, analysts believe strong equity fundamentals and broader market participation could sustain the recent rally. Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, noted that improving breadth supports the view that gains may continue into the second half of the year.

    “While the market has had much to digest the first six months of 2025, resiliency has prevailed,” Leslie Falconio, head of taxable fixed income strategy at UBS Financial Services, wrote last Friday. “However, we are not out of the woods just yet, as bouts of volatility and pockets of vulnerability are expected in the second half of the year.”

    Among individual movers, Apple surged 2.03 percent after Bloomberg reported the company may integrate AI technology from OpenAI or Anthropic into its Siri voice assistant. Broadcom rose 2.34 percent, while Nvidia, Microsoft, and Meta Platforms posted modest gains. On the downside, Amazon and Tesla fell nearly 2 percent, and Alphabet declined 0.49 percent. 

    MIL OSI China News –

    July 1, 2025
  • MIL-OSI New Zealand: Kiwis’ hard-earned money safer

    Source: New Zealand Government

    New rules taking effect today will provide greater protection for Kiwis’ money in the unlikely event of a bank collapse, Finance Minister Nicola Willis says.

    From today, deposits at banks, building societies, credit unions and finance companies are insured up to $100,000 per person, per institution.

    The change comes from the launch of the Depositor Compensation Scheme (DCS).

    “The implementation of this scheme should give New Zealanders extra peace of mind that if something were to go wrong at the institution where they have entrusted their money, they will get their money back.

    “It has the additional benefit of promoting better competition by providing smaller deposit takers the ability to compete on a level playing field.

    “Sometimes a smaller deposit taker can provide a more competitive deal, but the consumer’s confidence is undermined by that organisation’s exposure to risk. This scheme helps overcome that issue, promoting better competition, and therefore better deals for Kiwis.”

    The introduction of the scheme, which is funded by deposit takers and administered by the Reserve Bank, brings New Zealand in line with internation peers, such as Australia and the United Kingdom.

    Under the DCS, each depositor is protected up to $100,000 per deposit taker. That means that in the unlikely event of a deposit taker collapse, people who have put their money in eligible accounts will get back up to $100,000 per person.

    The DCS covers money held in standard banking products, including transaction, savings, notice and term deposit accounts.

    The change is automatic and depositors do not have to do anything to be covered, but it is recommended people check with their deposit taker – be it a bank or something else – to see what is protected by the scheme.

    Notes:

    For more information on the Depositor Compensation Scheme, including what it covers, and which banks and non-bank deposit takers provide DCS-protected deposits visit this page.

    MIL OSI New Zealand News –

    July 1, 2025
  • MIL-OSI Economics: Joint Statement: Heads of Multilateral Development Banks commit to strong joint action on development priorities

    Source: New Development Bank

    PARIS (28 June) – The Heads of Multilateral Development Banks (MDBs) met today in Paris, hosted by the Council of Europe Development Bank (CEB), which currently chairs the Heads of MDBs Group. The meeting focused on advancing their joint efforts to address  development priorities.

    Amid rising global uncertainty, the Heads reaffirmed their commitment to working as a system to deliver greater impact and scale, in line with their Viewpoint Note and the recommendations of the G20 Roadmap towards Better, Bigger, and More Effective MDBs.  The Roadmap outlines an ambitious vision for MDB reform to better address regional and global challenges, support job creation, and help countries achieve their development aspirations.

    The Heads welcomed ongoing efforts to improve the way MDBs work with clients through operational efficiency and enhanced coordination. In 2025 alone, five mutual reliance agreements  have been signed, helping streamline the preparation and implementation of  co-financed projects across institutions.

    Private capital mobilization remains a system-wide priority, with the last joint report of the MDBs reflecting a positive trend in volumes mobilized. To build on this momentum, the Heads reaffirmed their commitment to developing local currency lending and foreign exchange solutions. They also reaffirmed  the importance of adequate risk assessment for private sector investment in emerging markets and developing economies; in this context, the valuable contribution of disaggregated statistics on credit risk published through the Global Emerging Markets Risk Database (GEMs) was recognized.

    The Heads reiterated their continued commitment to implementing the recommendations of the G20 Independent Review of Multilateral Development Banks’ Capital Adequacy Frameworks (CAF).  Further reform efforts by MDBs since mid-2024 have increased the additional lending headroom for development projects in all countries of operation, including high-income ones, over the next decade by more than US$250 billion, thus reaching a total of over US$650 billion.

    The publication in the coming weeks of the Comparison Report by the MDBs’ Global Risk and Finance Forum (GRaFF) will provide metrics and data relating to MDBs’ financial positions, promoting a better understanding of their financial models and supporting both balance sheet optimization and private sector mobilization.

    The Heads also agreed to continue advancing promising initiatives already underway to strengthen system-wide impact. These include: 1) Mission 300, which aims to connect 300 million people in Africa to electricity by 2030 through public and private collaboration;  2) Association of South East Asian Nations (ASEAN) Power Grid, which aims to boost energy security, strengthen resilience, and promote decarbonization for the region’s 670 million people by connecting its electricity systems; and 3) Digital Transformation in Education in Latin America and the Caribbean, which aims to connect 3.5 million students and train over 250,000 teachers.

    In addition, MDBs are exploring joint actions to scale up investments in social infrastructure, including health, education, housing, and water and sanitation. Building on structured dialogue led by the CEB, the Heads welcomed progress made through recent cross-MDB consultations and recognized the key role these sectors play in enabling jobs, productivity, and inclusive growth, while noting persistent financing and delivery challenges that constrain impact.

    Meeting in advance of the Fourth International Conference on Financing for Development (FfD4), which will take place in Sevilla, Spain, from 30 June to 3 July, MDBs remain committed to working better as a system, in alignment with country-led development priorities and strategies to promote jobs and prosperity. In view of water’s role in human development, MDBs committed to significantly increasing collective support for global water security by 2030, and will launch the first “Joint Annual MDB Water Security Financing Report” at FfD4. Heads noted the importance of the upcoming COP30 in Belem, Brazil, in November 2025.

    Today’s meeting in Paris marks a significant step toward effective collaboration and scaled-up collective action for development priorities. MDB reforms are advancing, moving from concept to execution.

    With streamlined operations, better risk tools, and growing financial capacity, MDBs are delivering real impact – from expanding energy access and digital education to scaling investment in water security.

    MIL OSI Economics –

    July 1, 2025
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