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Category: Business

  • MIL-OSI: Deutsches Forschungsnetz selects Nokia to accelerate scientific research with a high-capacity green IP network 

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Deutsches Forschungsnetz selects Nokia to accelerate scientific research with a high-capacity green IP network 

    • IP network upgrade allows Deutsches Forschungsnetz e.V. (DFN) to provide seamless access to critical resources and facilitate faster and more efficient collaboration.
    • Expansion delivers interface speeds up to 800 Gigabits per second to meet future capacity growth
    • Modernized IP core network offers higher bandwidth, increased capacity and up to 75% reduced power consumption

    26 March 2025
    Espoo, Finland – Nokia has renewed and expanded DFN’s, the German National Research and Education Network, IP core router network in Germany. Nokia’s IP router solution will give DFN access to higher bandwidth, increased network capacity and reduce power consumption in its network up to 75%.

    The DFN Association offers a comprehensive suite of services designed to meet the evolving needs of the scientific research community. By providing high-throughput connectivity, DFN ensures that researchers can seamlessly access critical resources, such as supercomputers and large-scale data repositories, enabling faster and more efficient collaboration. This is particularly vital for projects that require extensive data transfers or collaboration with international research institutions.

    The DFN Association operates the national research and education network and develops the communication infrastructure for universities, research institutes and R&D companies across Germany, connecting approximately 850 locations throughout the country. It is considered one of the largest and most powerful non-commercial networks in the world with a total length of 10,250 km of optical fiber in the backbone and a multi-terabit core network spanning 65 core network locations.

    DFN selected Nokia to swap out existing equipment from another vendor and provide IP core network routers to ten locations in Germany. This upgrade will increase connectivity from DFN’s current 100G interfaces to 400G, with runway to further upgrade to 800G as demand warrants. Nokia deployed its scalable 7750 Service Routers which are based on the company’s FP5 routing silicon.

    The deal includes a full suite of professional services, training and technical consultancy throughout the deployment and operation. All existing DFN applications were successfully migrated into Nokia’s service routers ahead of deployment.

    “Nokia’s solution offered the performance and scalability we need for our IP core network in Germany, and the results speak for themselves. With the implemented solution, we are already equipped for 800G and can now further scale and expand our services according to the requirements of our participants in research and higher education in Germany. We are very satisfied with the collaboration with Nokia and the results achieved so far,” said Dr. Stefan Piger, Head of Network and Communication Services at DFN.

    “As the developer and operator of the communications infrastructure linking universities and research institutes in Germany, DFN plays a vital role in fostering growth for the broader scientific community across the country. This collaboration with world class research and education network underscores the value of our IP routing technology in providing a robust, agile and adaptable core network with the headroom to scale efficiently into the future”, added Matthieu Bourguignon, Senior Vice President, Europe, Network Infrastructure at Nokia.

    Multimedia, technical information and related news 
    Product Page: FP5 network processor
    Product Page: 7750 Service Router
    Web Page: Nokia Research and Education Networks

    About Nokia 
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    About Deutsches Forschungsnetz e.V. – DFN
    The DFN Association is responsible for the operation and expansion of the German research network and related IT services. DFN operates and develops the communication infrastructure for research institutes in Germany. It connects universities, non-university research institutions and research-related commercial enterprises at around 850 locations throughout Germany.

    The science network has a total length of 10,250 km of optical fiber in the backbone and a multi-terabit core network spanning 65 core network locations; it is one of the largest and most powerful non-commercial communication networks in the world.

    DFN operates not only nationally but also connects to European and global scientific networks and the general Internet via high-performance exchange points.

    https://www.dfn.de/netz/

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
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    The MIL Network –

    March 26, 2025
  • MIL-OSI Russia: Moscow experts to hold webinars on financial literacy for teachers

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    Moscow experts will hold free webinars for teachers who introduce elements of financial literacy into the educational process. On March 28 at 14:00, school and college employees will be able to join the online class, and on April 15 at 13:00, preschool teachers will be able to join.

    The educational mini-marathon is being held by the financial literacy center at the capital Department of Finance, organizational support is provided by the Department of Human Resources Services of the Moscow Government.

    “Today, financial literacy is not just a useful skill, but a vital necessity. Without knowledge in this area, it is difficult to make informed decisions and achieve serious financial goals. With the help of our webinars, teachers from Moscow and other regions can receive up-to-date information on modern trends in financial education. In an accessible and convenient format, participants will get acquainted with popular teaching methods, analyze practical examples, ask questions to experts and gain access to educational materials. This will make classes for children more diverse and interesting,” she noted.

    Elena Zyabbarova, Minister of the Moscow Government, head of the capital’s Department of Finance.

    The audience will get acquainted with new methodological developments that will help conduct exciting and meaningful classes on financial literacy. Participants will learn what interactive training formats exist today and how to improve the educational process with their help.

    Olga Lukacheva, head of the Moscow financial literacy center, will talk about thematic educational projects in the capital and suggest which lectures and master classes to attend in order to improve your own knowledge and consolidate it in practice. She will also explain how to organize financial literacy events with the participation of experts in a kindergarten, school or college.

    Olga Guryanova, two-time winner of the “Budget for Citizens” competition, will share her own ideas and explain how characters from popular cartoons can motivate children to understand financial issues.

    History teacher at school #854, lecturer at the Russian Society “Knowledge” Alexander Odzho will use examples to prove why social studies lessons in grades seven through nine are an excellent platform for developing financial literacy. And Ekaterina Lavrenova, candidate of pedagogical sciences, will tell how to interest preschoolers during their studies and keep their attention.

    Teachers of educational institutions can view the detailed program and sign up for webinars on the page “Showcase of HR services”. Registration closes at the beginning of the event. All listeners will receive a reminder letter with a link to join. Upon completion of the seminar, participants will receive an electronic certificate and access to materials for independent study.

    The most convenient way to follow announcements of financial literacy events is on the Telegram channel “Open Budget of Moscow” and on the portal “Open Budget of the City of Moscow”.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/151792073/

    MIL OSI Russia News –

    March 26, 2025
  • MIL-OSI: Bitget Wallet Unveils $80K BERA Airdrop for Berachain Ecosystem Users

    Source: GlobeNewswire (MIL-OSI)

    SAN SALVADOR, El Salvador, March 26, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, a leading Web3 non-custodial wallet, has launched a Berachain ecosystem campaign featuring a $80,000 BERA airdrop. Running from March 20 at 16:00 to April 2 at 16:00 (UTC+8), the initiative is designed to reward users who actively engage with Berachain’s rapidly expanding ecosystem through a series of interactive on-chain tasks.

    The campaign spotlights six emerging projects within the Berachain network: Dolomite, Kodiak Finance, Infrared, Wasabee (Honeypot Finance), Ramen Finance, and ZooFinance. Participants who engage with these decentralized applications (DApps) through Bitget Wallet—completing tasks such as staking, swapping, and wallet interactions—will become eligible for a share of the $80,000 BERA airdrop pool. The goal is to encourage user exploration of the Berachain ecosystem and support the growth of its early-stage protocols.

    As the first wallet to fully integrate Berachain, Bitget Wallet offers users direct access to the Berachain mainnet, along with built-in features like token swaps, cross-chain transactions, and DApp connectivity—eliminating the need for manual configuration or third-party tools. This initiative is part of a broader effort by Bitget Wallet and Berachain to lower the barrier to ecosystem adoption while supporting builders and early participants, reinforcing both teams’ commitment to making onchain participation more accessible and rewarding.

    “Berachain represents a new wave of DeFi infrastructure, and we’re excited to work closely with its ecosystem to bring users deeper on-chain experiences,” said Alvin Kan, COO of Bitget Wallet. “Through this campaign, we aim to lower the barrier to participation and reward users who help grow the next generation of decentralized protocols.”

    For more details, please visit Bitget Wallet X.

    About Bitget Wallet
    Bitget Wallet is the home of Web3, uniting endless possibilities in one non-custodial wallet. With over 60 million users, it offers comprehensive onchain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser and crypto payment solutions. Supporting over 130 blockchains, 20,000+ DApps, and millions of tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges, along with a $300+ million protection fund to ensure safety of users’ assets. Experience Bitget Wallet Lite to start a Web3 journey.
    For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook
    For media inquiries, please contact media.web3@bitget.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fa873586-8915-44f0-af6e-24c774b0bed7

    The MIL Network –

    March 26, 2025
  • MIL-OSI Submissions: Telco Sector – Japan multiplay service revenue to surpass $27 billion in 2029, forecasts GlobalData

    Source: GlobalData

    The total multiplay service revenue in Japan is set to increase at a compound annual growth rate (CAGR) of 1%  from $26.4 billion in 2024 to $27.7 billion in 2029 with the growing adoption triple- and quad-play services helping offset the anticipated decline in dualplay service revenues, reveals GlobalData, a leading data and analytics company.

    GlobalData’s Japan Multiplay Forecast (Q4 2024) reveals that the total multiplay service households in Japan will increase at a CAGR of 2.2% over the period 2024-2029, driven by the high-demand for bundled telecom services in the country, and continued increase in coverage and availability of high-speed fiber-broadband services that enable the delivery of high-quality service bundles to customers.

    Srikanth Vaidya, Telecom Analyst at GlobalData, says: “Doubleplay services will remain the most popular multiplay service category through the forecast period in terms of service adoption. However, its share in the total multiplay households will gradually drop from 75.8% in 2024 to 70.9% in 2029 as more subscribers start adopting tripleplay and quadplay service bundles.

    Tripleplay services category will see its share in the total multiplay-households grow from 20.6% in 2024 to 24.5% in 2029. Quadplay services, which attract highest average monthly- household spending among all the multiplay service categories, will also see strong growth in adoption, thereby boosting the overall multiplay service revenue in the country

    Vaidya concludes: “KDDI will lead the doubleplay market, by subscription share, through 2029. The operator is leveraging its fiber-to-the-home (FTTH) networks to accelerate multiplay services adoption and offers discounted doubleplay plans, with focus on reducing churn and increasing revenue-generating units (RGUs). NTT, on the other hand, will lead the tripleplay segment in terms of households through 2029.”

    About GlobalData

    4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.

    MIL OSI – Submitted News –

    March 26, 2025
  • MIL-OSI United Kingdom: Major £1.6 billion equipment contract to support British Defence jobs and boost Army readiness

    Source: United Kingdom – Executive Government & Departments

    Press release

    Major £1.6 billion equipment contract to support British Defence jobs and boost Army readiness

    British Army equipment, including tanks and armoured vehicles, will receive world-class maintenance and spare parts under a contract which supports 1,600 UK jobs. 

    • Significant contract update to provide kit maintenance and increased vehicle availability.   

    • Directly supports 1,600 defence jobs across the country, supporting a 6,000-strong business supply chain.   

    • Investment in British firm Babcock boosts defence as an engine for UK economic growth.    

    British Army equipment, including tanks and armoured vehicles, will receive world-class maintenance and spare parts under a contract which supports 1,600 UK jobs.    

    The five-year £1.6 billion contract extension with British defence firm Babcock will cover vital military assets including Challenger 2 tanks, 105mm artillery guns and Trojan armoured vehicles, ensuring they remain combat-ready to meet emerging threats.   

    The Service Provision and Transformation Contract will sustain 1,600 highly skilled jobs in locations across the UK, including over 400 in Telford and over 250 in Dorset. The investment follows the Prime Minister’s historic commitment to increase defence spending to 2.5% of GDP, recognising the critical importance of military readiness in an era of heightened global uncertainty.   

    Maintenance services will cover preventative maintenance, emergency repairs and spare parts management. It will also include digital transformation to improve fleet management efficiency, keeping more vehicles and equipment primed for soldiers to use – boosting national security and renewing Britain’s economy as we deliver on our Plan for Change.  

    The move to boost the readiness of British Army combat vehicles comes as the UK continues to lead planning efforts for a Coalition of Willing nations to help secure a just and lasting peace in Ukraine. Following the planning meeting attended by approximately 30 nations last week, further operational planning meetings will be led by UK Commander Joint Operations, General Nick Perry.   

    Defence Secretary John Healey MP said:  

    Tanks, armoured vehicles and kit are the backbone of the British Army. We are taking action to ensure the outstanding service men and women of our Armed Forces are properly equipped and ready to respond to ever-changing global threats.    

    Supported by largest sustained increase in defence spending since the Cold War, this substantial investment with Babcock demonstrates how defence is an engine for growth: supporting businesses of all sizes and sustaining more than 1,600 good, well-paid jobs across Britain.

    National security is the bedrock of a successful economy and our Government’s Plan for Change.

    Babcock’s Chief Executive Officer, David Lockwood said: 

    In a period of increased global instability, more is being expected of our armed forces. This contract extension ensures that Babcock continues to provide the British Army with the tools to do its job, when and wherever they are needed. Our know-how, application of technology and extensive experience in the land domain help ensure that the British Army is ready to fight and win wars.

    While the Land Integrated Operating Services programme places future contracts, this deal will also support approximately 6,000 UK businesses throughout the wider supply chain, as well as 200 apprentices. These apprenticeships will offer valuable training and development opportunities in fields such as HGV maintenance and automotive refinishing, providing career paths in the defence sector for the next generation of skilled workers.   

    MOD Director Land Environment, Major General Lizzie Faithfull-Davies CBE said:    

    It has taken a lot of hard work to collaboratively deliver this SPTC Reframe contract amendment. I am delighted to renew our relationship with Babcock. With this amended contract, DE&S, the Army, and Babcock will now provide even better support to the in-Service platforms of our Armed forces; ensuring that the vehicles the Army will fight from are repaired, maintained, and ready whenever the Army need them.

    The work comes ahead of the Defence Industrial Strategy, which will bolster UK industry and provide more opportunities for defence to be an engine for economic growth. It follows a recent commitment to launch a new hub to provide small and medium enterprises (SMEs) with better access to the defence supply chain, and a commitment to set direct SME spending targets for the Ministry of Defence by June this year.

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    Updates to this page

    Published 26 March 2025

    MIL OSI United Kingdom –

    March 26, 2025
  • MIL-OSI Europe: Briefing – Outcome of the meetings of EU leaders on 20 March 2025 – 26-03-2025

    Source: European Parliament 2

    With the geopolitical situation evolving rapidly in the first months of 2025, EU leaders had already convened three times in advance of their regular March meeting. Next to competitiveness – originally due to be the central focus point – the spring European Council meeting covered issues including Ukraine, the Middle East and European defence. On competitiveness, the EU-27 outlined precise directions to accelerate the EU’s economic agenda, focusing on three priorities: cutting red tape, ensuring affordable energy and turning savings into investments. Following Hungary’s renewed refusal to agree to conclusions on Ukraine, a separate statement, ‘firmly supported by 26 Heads of State or Government’, was published, emphasising the EU’s commitment to provide further comprehensive support to Ukraine and to contribute to security guarantees. As European Council President António Costa intended, the meeting concluded in one day. It started with the customary speech by Parliament’s President, Roberta Metsola, who told EU leaders that Europe had ‘thrived on soft power’ for decades, but with the global order now changing, ‘Europe must position itself as a force to be reckoned with’. This requires ‘getting serious about our security, our readiness and our competitiveness’. There was a working lunch with United Nations Secretary-General António Guterres, and an exchange of views with Ukrainian President Volodymyr Zelenskyy. In the afternoon, a Euro Summit in inclusive format took place in the presence of European Central Bank President Christine Lagarde and Eurogroup President Paschal Donohoe. Over dinner, EU leaders held a first discussion on the next long-term EU budget and own resources.

    MIL OSI Europe News –

    March 26, 2025
  • MIL-OSI: Nokia expands collection of broadband applications for Service Providers to monetize the connected home

    Source: GlobeNewswire (MIL-OSI)

    Press release
    Nokia expands collection of broadband applications for Service Providers to monetize the connected home

    • Nokia Corteca Marketplace provides Communication Service Providers (CSPs) with access to the largest collection of value-added applications for broadband devices.
    • CSPs can easily manage applications with Corteca via prpl lifecycle management (LCM) and TR-369 standard-based protocols.        
    • Developers and CSPs can use Nokia’s open-source Corteca Developer Toolkit to quickly develop new applications for home broadband devices.

    26 March 2025
    Amsterdam, Netherlands – Nokia today announced the launch of several new applications that help CSPs unlock new revenue opportunities and bolster end-user experiences. Nokia’s Corteca Marketplace has the largest collection of applications for broadband devices available today through a single platform.   The applications can help CSPs enhance customer experiences, improve the performance of broadband and Wi-Fi services, and generate new revenue streams.

    The full set of Corteca applications covers a variety of use cases, including diagnostics, VPN services, traffic optimization, speed tests, ad-blocking security, parental controls and more. Supporting both prpl LCM and the TR-369 User Services Platform (USP) protocol, the platform also makes managing in-home broadband gateways, Wi-Fi connectivity, and applications, easy, allowing operators to quickly install, uninstall or update any of the applications it delivers to customers. CSPs that want to develop their own applications can also use Nokia’s Corteca Developer Toolkit available on GitHub.

    New applications added to the Nokia Corteca Marketplace platform include:

    • Ookla speedtest: To analyze internet performance by measuring download/upload speeds, latency and jitter.
    • Device Anti-Theft asset security: Delivers a layer of monitoring and control, via penalization of services, for suspected stolen broadband devices that connect to the Corteca platform via external networks.
    • WTFast gaming optimization: AI-driven router technology that optimizes online gaming traffic.
    • AdGuard ad blocking: Network-wide blocking of ads and traffic tracking.
    • Blocky ad blocking: Open-source security suite providing ad and traffic tracking blocking in addition to malware protection.

    These new applications complement existing applications, such as Nokia Fingerprint, Nokia Broadband Compliance, Netduma Optima, Nokia FastMile FWA Controller, F-Secure Sense, Gryphon Home, M-Lab Speed Test and OpenVPN™ Client.

    “We decided to work with Nokia to make distribution of our technology for broadband providers much easier. We’re excited to offer WTFast in the Corteca platform, not only on new devices, but also devices already in footprint,” said Rob Bartlett, CEO and Founder, WTFast.

    “Integrating Optima with the Corteca platform has been a smooth process with tools and support readily available from the Nokia team. The intelligent Corteca architecture has meant that we can deliver all the Optima performance in an efficient containerized platform,” said Luke Barlow, CEO at Netduma.

    “Nokia’s Corteca Marketplace provides the most comprehensive suite of broadband device applications available today. Both cloud and device sides are based on standards, creating an open environment that lets operators avoid vendor lock-in.” said Justin Doucette, Head of WiFi, Fixed Networks at Nokia.

    Multimedia, technical information and related news 
    Product Page: Corteca Marketplace
    Product Page: Corteca Applications

    About Nokia 
    At Nokia, we create technology that helps the world act together. 

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation. 

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future. 

    Media inquiries 
    Nokia Press Office 
    Email: Press.Services@nokia.com  

    Follow us on social media 
    LinkedIn X Instagram Facebook YouTube 

    The MIL Network –

    March 26, 2025
  • MIL-OSI: Admission to trading of AB Šiaulių bankas Notes on Euronext Dublin

    Source: GlobeNewswire (MIL-OSI)

    THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER, INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF AB ŠIAULIŲ BANKAS.

    On 25 March 2025 the EUR 300,000,000 4.597 per cent. Fixed Rate Reset Callable Senior Preferred Notes (ISIN XS3025213102) of AB Šiaulių bankas were admitted to the official list of Euronext Dublin and to trading on the regulated market of Euronext Dublin administered by the Irish Stock Exchange plc.

    This communication is not an offer of securities or investments for sale nor a solicitation of an offer to buy securities or investments in any jurisdiction where such offer or solicitation would be unlawful. No action has been taken that would permit an offering of securities or possession or distribution of this announcement in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions.

    Additional information:
    Tomas Varenbergas 
    Head of Investment Management Division
    tomas.varenbergas@sb.lt

    The MIL Network –

    March 26, 2025
  • MIL-OSI Russia: A new pedestrian crossing will appear near the Tyutchevskaya metro station

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    An overground pedestrian crossing will be built near the Tyutchevskaya station of the Troitskaya metro line. The corresponding territory planning project (PPT) was approved by the capital Committee on Architecture and Urban Development (Moskomarkhitektura), said the Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.

    The facility will be built within the framework of the Targeted Investment Program.

    “The land use planning project was approved for a site with an area of over 20 hectares. As part of the PPT, an off-street pedestrian crossing with ramps and tactile signs will be connected to the exit from the Tyutchevskaya metro station. An access road and two parking spaces for 100 spaces each are planned to be equipped nearby. The latter will be intended, among other things, for people with limited mobility. The implementation of the project will create safer conditions for the movement of people in the active transport logistics zone,” said Vladimir Efimov.

    Tyutchevskaya station is located in the Kommunarka district of the Novomoskovsky administrative district, along the 42nd kilometer of the Moscow Ring Road (MKAD).

    “Currently, when exiting a metro station, the journey to the opposite side of the Moscow Ring Road takes 12 minutes. After the new facility appears, people will have a safer route to General Tyuleneva Street, and the time spent crossing will be reduced to three minutes,” she added.

    Juliana Knyazhevskaya, Chairman of the capital’s Committee for Architecture and Urban Development.

    Earlier, Sergei Sobyanin announced the opening of the longest overpass on the Moscow Ring Road.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/151777073/

    MIL OSI Russia News –

    March 26, 2025
  • MIL-OSI Russia: The conference “Reconstruction and restoration of architectural heritage” has started at SPbGASU

    Translartion. Region: Russians Fedetion –

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – Conference Opening

    On March 24, the V National (All-Russian) Scientific and Practical Conference with International Participation “Reconstruction and Restoration of Architectural Heritage” (RRAN-2025) started at SPbGASU.

    The partners of the conference are the Government of St. Petersburg, the Committee for State Control, Use and Protection of Historical and Cultural Monuments of St. Petersburg, the Non-Commercial Partnership “Russian Association of Restorers (Rosregionrestavratsiya)” with the participation of the companies “Friedlander Paints”, REMMERS LLC and RUNIT LLC.

    Nadezhda Akulova, member of the conference organizing committee, associate professor of the Department of Architectural and Urban Heritage of SPbGASU, reported that these conferences have been held within the walls of our university for more than 10 years. For the last five years, they have been held with international participation and are called “Reconstruction and Restoration of Architectural Heritage”, which corresponds to the official names of the federal state educational standards, according to which specialists in the restoration industry are trained. Professionals from St. Petersburg, Moscow, Baku, Tashkent, Kazan, Vladivostok, Nizhny Novgorod, Rostov-on-Don, Pskov, Vladimir, Tomsk, Astrakhan, Karelia, Irkutsk, Crimea and many other cities and regions of Russia and abroad have participated and are participating in the conferences.

    “I am glad to see specialists of various restoration specialties, representatives of state protection agencies, restoration architects, restoration process managers, restoration work producers, managers of restoration materials organizations and managers who train personnel at the level of higher and secondary education. Such symbiosis has a beneficial effect on the preservation of our restoration industry,” said Nadezhda Akulova.

    At the plenary session on March 25, Svetlana Golovina, First Vice-Rector of SPbGASU, addressed the participants with a greeting. Svetlana Gennadyevna outlined a wide range of topical issues that will be at the center of discussion for five days: monumental restoration, engineering aspects of restoration, construction restoration materials, preservation of cultural heritage sites, as well as training of specialists – both in basic and additional professional programs, retraining and advanced training programs.

    Andrey Ermakov, Head of the Department of the Ministry of Culture of the Russian Federation for the Northwestern Federal District, shared his point of view that restoration is a branch of culture, and the preservation of cultural heritage sites is a necessary component of self-identity.

    Vladimir Tsoi, Deputy Chairman of the Leningrad Region Government and Chairman of the Committee for the Preservation of Cultural Heritage, made a welcoming video address. Vladimir Olegovich wished the conference participants fruitful work and acquaintance with the monuments of the Leningrad Region and St. Petersburg.

    The welcoming message from Alexey Mikhailov, Chairman of KGIOP, was read by Yulia Bogacheva, Deputy Chairman of the Committee. Alexey Vladimirovich noted the high level of involvement of SPbGASU in current issues of urban development and adaptation of cultural heritage sites and the importance of exchanging practical experience.

    Tatyana Chernyaeva, Chairperson of the Russian Association of Restorers, Acting Director of the State Autonomous Cultural Institution of the Leningrad Region “International Restoration Center”, emphasized the need to involve the scientific community in the development of legislative initiatives. Events such as the conference are necessary to develop a common consolidated opinion and promote it to the state level.

    Sergey Semenov, professor of the Department of Urban Development at SPbGASU, expressed confidence that at least two thousand architect-restorers need to be graduated annually for St. Petersburg and the Leningrad Region, and another thousand for the rest of the North-West. Sergey Vladimirovich also reminded that the professional standard “Architect-restorer” expires in 2028, and it is time to start preparing its new version.

    Ekaterina Voznyak, Dean of the Faculty of Architecture at SPbGASU, invited colleagues from Russian universities and representatives of the professional community to collaborate.

    Rufat Guliyev, a practicing architect and lecturer at the Department of Restoration of Architectural Monuments of the Azerbaijan University of Architecture and Civil Engineering, shared his joy that he could not only participate in the conference, but also admire the unique beauty of St. Petersburg.

    Mikhail Mamoshin, chief architect and project manager of OOO Architectural Workshop Mamoshin, called for not differentiating between restoration, reconstruction and new construction. In his opinion, this is a single process, and graduates of architectural specialties need to have restoration skills.

    The conference will last until March 28. The program includes sections, round tables, master classes, and excursions.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

    March 26, 2025
  • MIL-OSI: BW Offshore: Closing of the sale of the FPSO BW Pioneer

    Source: GlobeNewswire (MIL-OSI)

    Closing of the sale of the FPSO BW Pioneer

    Reference is made to the announcement dated 12 March 2025, in which BW Offshore Limited (“BW Offshore”) announced its agreement to sell the FPSO BW Pioneer for USD 125 million to a subsidiary of Murphy Oil Corporation (NYSE: MUR).

    Following the close of the transaction, BW Offshore has received the initial payment of USD 100 million. The remaining balance is expected before end of Q2 2025 when certain contractual obligations are met. The two parties have also signed a five-year reimbursable O&M contract, under which BW Offshore will continue to provide operations and maintenance services.

    For further information, please contact:
    Ståle Andreassen, CFO, +47 91 71 86 55

    IR@bwoffshore.com or www.bwoffshore.com

    About BW Offshore:
    BW Offshore engineers innovative floating production solutions. The Company has a fleet of 2 FPSOs with potential and ambition to grow. By leveraging four decades of offshore operations and project execution, the Company creates tailored offshore energy solutions for evolving markets world-wide. BW Offshore has around 1,100 employees and is publicly listed on the Oslo stock exchange.

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

    The MIL Network –

    March 26, 2025
  • MIL-Evening Report: ‘The bush calls us’: the defiant women who demanded a place on the walking track

    Source: The Conversation (Au and NZ) – By Ruby Ekkel, PhD student in Australian History, Australian National University

    Fairfax Corporation (1932)

    ➡️ View the full interactive version of this article here.

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

    – ref. ‘The bush calls us’: the defiant women who demanded a place on the walking track – https://theconversation.com/the-bush-calls-us-the-defiant-women-who-demanded-a-place-on-the-walking-track-241126

    MIL OSI Analysis – EveningReport.nz –

    March 26, 2025
  • MIL-OSI Russia: A resident of the Technopolis Moscow SEZ, together with the capital’s ambulance service, has developed a device for performing indirect cardiac massage

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    A resident of the special economic zone (SEZ) Technopolis Moscow has developed a device for performing cardiopulmonary resuscitation.

    The team of the A.S. Puchkov Emergency and Urgent Medical Care Station took part in the creation of the device. As a result, the invention surpasses its Western counterparts in many ways in its technical characteristics. In particular, it is equipped with an optical target designator for positioning on the patient’s body and two batteries, which allows it to work twice as long as other similar devices. Unique design solutions are patented in accordance with the legislation of the Russian Federation. Among the authors of the patent, among others, are leading resuscitators of the Moscow emergency medical care station.

    A registration certificate from Roszdravnadzor has already been received, confirming the safety and effectiveness of the medical device. This was reported by the Deputy Mayor of Moscow for Transport and Industry Maxim Liksutov.

    “On behalf of Sergei Sobyanin, we support the development of the medical industry. In the Technopolis Moscow special economic zone, more than 15 enterprises are engaged in the production of equipment for emergency care, artificial lung ventilation devices, ultrasound diagnostics, innovative prostheses and much more. During their activities in the capital’s SEZ, companies in the industry have manufactured products worth over seven billion rubles. The new product from Medplant is designed for automatic indirect cardiac massage. The device was developed in three years, and the investment volume in the project amounted to about 60 million rubles,” said Maxim Liksutov.

    Obtaining a registration certificate gives the developer the right to bring the Arka cardiopulmonary resuscitation device to the mass market for use in the healthcare sector.

    “The enterprise’s development is a robotic device that replaces a doctor or rescuer when performing indirect cardiac massage and allows hands to be freed for other necessary manipulations, such as administering injections. The device can function continuously for 92 minutes, and the battery can be replaced without stopping resuscitation measures,” said the Minister of the Moscow Government, head of the capital’s Department of Investment and Industrial Policy

    Anatoly Garbuzov.

    The new medical product can be used by ambulance teams, emergency medical teams, and hospitals. The company plans to produce more than 100 devices in the first year. To do this, it has undergone technological re-equipment: a surface mounting line for assembling electronic modules has been opened. In addition, the number of assembly engineers has been expanded to ensure uninterrupted production.

    The device for indirect cardiac massage is manufactured at the Pechatniki site. According to Gennady Degtyarev, General Director of the Technopolis Moscow special economic zone, enterprises whose facilities are located in the SEZ can obtain resident status and take advantage of state support in the form of tax breaks and other preferences. The companies invest the saved funds in expanding production and product range, as well as in developments and obtaining patents for them.

    The Technopolis Moscow Special Economic Zone is a territory with a special legal status, where a preferential regime for investors operates. The area of land where high-tech enterprises are located exceeds 390 hectares. The SEZ has been a leader in international and national industry ratings for several years.

    New residents, inventions and technologies. What 2024 was like for the Technopolis Moscow SEZ

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/151762073/

    MIL OSI Russia News –

    March 26, 2025
  • MIL-OSI: DNO Bags Kjøttkake with a Bang

    Source: GlobeNewswire (MIL-OSI)

    Oslo, 26 March 2025 – DNO ASA, the Norwegian oil and gas operator, today announced an important oil and gas discovery in Northern North Sea license PL1182 S in which the Company holds a 40 percent operated interest.   

    The discovery was made in Paleocene injectite sandstones of excellent reservoir quality with preliminary estimates of gross recoverable resources in the range of 39 to 75 million barrels of oil equivalent (MMboe), with a mean of 55 MMboe.

    The Kjøttkake exploration well encountered a 41-meter oil column and a 9-meter gas column. A sidetrack drilled horizontally 1,350 meters westwards along the reservoir in the Sotra Formation confirmed the presence of the oil column throughout the discovery.

    “We are on a hot streak in Norway,” said Executive Chairman Bijan Mossavar-Rahmani. “Our latest and most exciting discovery this year, Kjøttkake, is close to existing infrastructure in the Troll-Gjøa area, and we will be relentless in pursuing its commercialization.”

    Located 27 kilometers northwest of the Troll C platform and 44 kilometers southwest of the Gjøa platform, Kjøttkake is DNO’s tenth discovery since 2021 in the Troll-Gjøa exploration and development hotspot, following Røver Nord, Kveikje, Ofelia, Røver Sør, Heisenberg, Carmen, Kyrre, Cuvette and Ringand.

    The Company has also racked up discoveries in other parts of the Norwegian Continental Shelf, including Norma (2023) and Othello (2024), both play-opening finds and both operated by DNO.  

    Partners in license PL1182 S include Aker BP ASA (30 percent), Concedo AS (15 percent) and Japex Norge AS (15 percent). The wells were drilled using the Deepsea Yantai rig.

    Following its exploration success, the Company has stepped up purchases of producing assets to balance its Norwegian portfolio and help fund coming developments. In early March, DNO announced the transformative acquisition of Sval Energi Group AS, which will increase North Sea 2P reserves from 48 million barrels of oil equivalent (boe) to 189 million boe post-closing and 2C resources from 144 million boe to 246 million boe (pro forma figures as of yearend 2024).

    The acquisition, which is expected to close by mid-year, will turn the North Sea into the biggest contributor to Company’s net production with some 60 percent of the total, with the balance coming predominantly from two operated fields, Tawke and Peshkabir, in the Kurdistan region of Iraq.

    –

    For further information, please contact:
    Media: media@dno.no
    Investors: investor.relations@dno.no

    –

    DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d’Ivoire, Netherlands and Yemen. More information is available at www.dno.no

    This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

    The MIL Network –

    March 26, 2025
  • MIL-OSI Russia: The largest screen in Russia for creating special effects appeared at the Moskino film factory

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    The largest LED display structure in Russia has been installed on the territory of the Moskino film factory on Ryazansky Prospekt. It will be used to create visual effects for films of any complexity. This was reported by Natalia Sergunina, Deputy Mayor of Moscow.

    “The project will open up new opportunities for the industry, simplify many work processes and reduce costs. The area of the huge screen exceeds 300 square meters,” said Natalia Sergunina.

    The puck-shaped structure will allow film crews to be independent of the season and weather conditions. It will eliminate the need to travel to other locations, change scenery or resort to computer graphics. A specific background and visual images will be selected for each scene, which will be transmitted by the screens. The actors will immediately see the same thing as the audience.

    The creator of the equipment is the flagship resident of the Moskino film factory. The studio produces full-length films, TV series, commercials and music videos using modern technologies. It has more than 500 completed projects, including Chelyuskin. The First and Red Silk, which were released in March 2025.

    “We call this design a ‘washer’. Inside it, you can create effects of any complexity that will look natural on the cinema screen. The technology itself is unique for Russia, and we are glad that we managed to implement this idea,” shared the company’s founder, Yuri Yarushnikov.

    Another studio pavilion on the film factory premises is designed for filming scenes of travel in cars and other types of transport. The movement is simulated using a special complex that includes dynamic platforms.

    The capital pays great attention to the development of the industry within the framework of Sergei Sobyanin’s project “Moscow – City of Cinema”, which will unite 1170 hectares of creative space. It already includes the Gorky Film Studio on Sergei Eisenstein Street and in Valdaisky Proyezd, a chain of cinemas, a cinema park and the Moskino film factory.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/151796073/

    MIL OSI Russia News –

    March 26, 2025
  • MIL-OSI Russia: Residential buildings and infrastructure within walking distance: what is being built within the framework of the KRT for the purposes of the renovation program

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    New neighborhoods will be created in the capital under the program of integrated development of territories (IDT). Investors and city operators plan to build 6.7 million square meters of housing for the purposes of the renovation program. This was reported by the Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.

    “The integrated territorial development program has been in effect in the capital since 2020. It currently includes 302 KRT projects at various stages of development and implementation. Various real estate objects will be built under them. In particular, the area of residential development will be 37 million square meters, of which 6.7 million are intended for the purposes of the renovation program. This will also speed up the renovation program in 78 districts of the capital,” said Vladimir Efimov.

    For the purposes of the renovation program, the necessary infrastructure will be created within walking distance.

    “The KRT projects, which provide for the construction of housing for the purposes of the renovation program and other city needs, also provide for the construction of social facilities. Thus, along with residential buildings in the new microdistricts, it is planned to build 48 kindergartens, 39 schools and 11 medical facilities. The adjacent territories will be landscaped and improved, children’s and sports playgrounds will be installed, and new roads will be laid,” noted the Minister of the Moscow Government, Head of the Department of City Property

    Maxim Gaman.

    Thanks to the comprehensive transformation of the capital’s neighborhoods, Muscovites will receive not only modern housing, but also a high-quality urban environment.

    According to the Minister of the Moscow Government, Head of the Department of Urban Development Policy Vladislav Ovchinsky, within the framework of the KRT, residential complexes with a total area of about 4.3 million square meters will be built for the purposes of the renovation program. This will provide new housing for about 150 thousand Muscovites. Elevators will be installed in the entrances of the new buildings, rooms for concierges, rooms for strollers and bicycles will be equipped. The first floors will be made non-residential – in the future, social and household facilities will open there.

    According to the program of integrated development of territories, multifunctional city blocks are created, where roads, comfortable housing and all necessary infrastructure are designed on the site of former industrial zones and inefficiently used areas. Currently, 302 KRT projects with a total area of about 4.2 thousand hectares are at various stages of development and implementation in Moscow. This work is carried out on behalf of Sergei Sobyanin.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/151787073/

    MIL OSI Russia News –

    March 26, 2025
  • MIL-OSI Australia: Interview with Peter Fegan, 4BC, Brisbance

    Source: Australian Parliamentary Secretary to the Minister for Industry

    Peter Fegan:

    It’s Labor’s $17 billion pledge. But is it enough to save the election? The Labor Party or the government has delivered its fourth Budget last night. Plenty of savings, but given the cost‑of‑living crisis, we’re in no position to bite the hand that could potentially feed us for the next 3 years, at least. Joining me on the line is the Treasurer, Jim Chalmers. Treasurer, it is always great to have your time on the programme.

    Jim Chalmers:

    Thanks for having me back on your show, Pete. Good morning.

    Fegan:

    $268 in tax cuts in the first year, which is 2026. That’s $538 in the second. You’ve conceded, Treasurer, that that is modest cuts. It equates to about $5 a week. You add in the Stage 3 tax cuts, that will be around $56 bucks a week. So, when you consider how much groceries, fuel, beer, health, childcare, aged care is; most Australians would say that $50 bucks doesn’t go very far at all.

    Chalmers:

    I understand that, Pete. I understand that there’s always an appetite to do more. My job is to make sure that we’re providing this cost‑of‑living relief in the most responsible way that we can. The tax cuts are an important part of that, that $50 a week in income taxes is all about helping people but so is strengthening Medicare because more bulk billing means less pressure on families.

    So are the energy rebates, the cheaper medicines, cutting student debt. There are a number of ways that we’re providing cost‑of‑living help in the Budget, but we’ve got to do that in the most responsible way. We know that there will always be calls to do more. We’re doing the most that we can afford to do for the time being.

    Fegan:

    Treasurer, I would argue what is missing from this Budget are tough decisions, serious structural reforms and addressing the elephant in the room. We know what that is, Treasurer. It’s spending. Now, there’s $40 billion set aside for decisions not yet announced. That means that the Prime Minister has another $40 billion up his sleeve to throw around during the election campaign. So, let’s just call this Budget what it is. It’s a Budget to win the election. Surely.

    Chalmers:

    I don’t agree with you, Pete. It’s a Budget to build the future and to help people with the cost of living and strengthen Medicare. Those are the 3 primary objectives of the Budget. It’s all about making our economy more resilient in the face of all this global economic uncertainty. That’s what’s motivated us here when it comes to this Budget.

    Now, when it comes to spending, about half of the new spending in the Budget is the tax cuts. A big proportion of the rest of it was already provisioned for in the mid‑year Budget update. We’ve been responsible, we’ve gone for what’s affordable and we’ve done that in the context where we have taken difficult decisions. There are billions of dollars in savings.

    There is much less debt this year in the Budget than when we came to office 3 years ago in terms of the $177 billion less debt this year. We are making good progress in the budget. We’re making especially good progress in the economy more broadly. We know that that doesn’t always immediately translate into how people are feeling and faring in the economy. That’s why the cost‑of‑living help is so important.

    Fegan:

    Migration. 260,000 new migrants will flood into Australia by the end of July, the majority of which will come into Australia. Now Treasurer, historically yes, migration does help fuel economy, we know that. But unfortunately, here in Australia we have a living crisis, we have a housing crisis.

    We have a major supply issue here in Queensland. You know that, you live in Logan. You know how bad supply is at the moment. Are you putting them up? Because I don’t know where 260,000 new migrants will go. I know that they’ll work. But we’re in a housing crisis. It doesn’t make sense to me.

    Chalmers:

    Two important things about that, Pete. Firstly, we’re investing $33 billion in building more homes.

    Fegan:

    But you haven’t built any yet though, Treasurer. That’s the issue. You haven’t built any new homes yet. That’s the big issue here. You can invest all your money, all the money you want. You can’t put them in camps until they’re built.

    Chalmers:

    We are building new homes. We’re making a very substantial investment in making sure that’s the case. Secondly, you refer to those migration numbers. Those migration numbers have actually been very substantially managed down from their peak after COVID. When Australia more or less shut down during COVID in the year or 2 after that, couple of years after that, there was a big rebound in the net overseas migration number spanning 2 governments.

    We’ve been able to manage that down to more normal levels. That is what you’re seeing in the budget. That number that you refer to is right, but it is much lower, very, very substantially lower than it was a couple of years ago.

    Fegan:

    Okay, Treasurer, this is an interesting one and I think all eyes will be on this when it comes to the election.

    Let’s talk energy.

    Okay, Treasurer, the Prime Minister and yourself and all your Ministers all maintain that energy prices are lower under a Labor government. So, why has the government, if that’s the case – if we are paying less for energy, why has the government spent $6.8 billion on energy subsidies to date? Is that not an abject failure of the last 3 years? And your energy policy, why give Australians another $150 bucks if, according to Labor, energy is affordable? I don’t understand it. I mean, if it is affordable, I don’t need the $150 bucks.

    Chalmers:

    This is another important way that we’re helping people with the cost of living. We know that in the last year in the official inflation data, we were able to get electricity prices down. That’s a good thing. That’s been a combination of rebates, but also the efforts that we’re making to introduce more cleaner and cheaper energy into the system.

    If you think about the independent experts from a body called AEMO, what they talk about is what’s pushing electricity prices up is actually the old parts of the system, the traditional parts of the system, becoming less and less reliable.

    We’re providing these energy rebates in the near term to take some of the sting out of these electricity bills while people are under cost‑of‑living pressure. At the same time, we’re introducing more cleaner and cheaper, more reliable energy into the system because that’s the best way to put downward pressure on energy prices over the medium and long term.

    Fegan:

    Yeah, there’s no. But there’s no funding for green energy. There’s no funding for net zero.

    Chalmers:

    That’s not true, Pete.

    Fegan:

    Well, there’s no extra funding. Is there, in this Budget? Is there extra investment in –

    Chalmers:

    Yeah, there’s some extra investment out of an innovation.

    Fegan:

    How much?

    Chalmers:

    For about one and a half billion, I think from memory.

    Fegan:

    But it’s not in Budget. Is it in Budget papers released?

    Chalmers:

    Yeah, it’s in the Budget papers. We’ve also recapitalised the Clean Energy Finance Corporation because that’s playing an important role as well, financing cleaner and cheaper energy.

    I accept your broader point. Electricity prices are a pressure on family budgets we’re seeing around the world. We’re not immune from that. The energy bill rebates are an important, responsible way that we take some of the edge off that while we introduce more cleaner and cheaper, and more reliable energy into the system.

    Fegan:

    Treasurer, why should Australians trust Anthony Albanese and Jim Chalmers for another 3 years?

    Chalmers:

    I think after the Coalition’s brain explosion on tax last night, the choice at the election is becoming absolutely crystal clear now. We’re helping people as a Labor government with the cost of living by cutting their taxes. Peter Dutton has an agenda of secret cuts which will make people worse off. Now, Peter Dutton wants to cut everything except people’s taxes, and that’s really the contest which was set up last night when Angus Taylor, quite bizarrely, said that he would oppose our cost‑of‑living help.

    What we’ve seen over the course of the last 3 years is every time we’ve tried to help people with the cost of living, our opponents have opposed that. Peter Dutton and Angus Taylor have both said the best predictor of future performance is past performance. They have opposed cost‑of‑living help; they’re opposing these cost‑of‑living tax cuts in the Budget last night.

    I think that sets up a very clear choice. If people want a Labor government helping with the cost of living, managing the budget responsibly, investing in building Australia’s future, they can choose that over Peter Dutton, who has secret cuts which will make people worse off, and that’s because he wants to cut everything except taxes.

    Fegan:

    Do you accept that Australians don’t trust you?

    Chalmers:

    I don’t necessarily accept that, Pete. I mean, that’s a judgement for people to make. I understand that, and it’s something that journalists and commentators can speculate about. What we did last night was keep faith with the Australian people and do justice to the progress and the sacrifices that they have made. Together as Australians, we’ve made a lot of progress in our economy. We’ve got –

    Fegan:

    But a trillion dollars in debt. A trillion dollars, though, Treasurer?

    Chalmers:

    It’s $177 billion this year lower than what it was when we came to office for this year. That’s a really important thing. You will read a lot of stuff in the papers about debt and deficits. Don’t forget, we delivered 2 surpluses, we shrunk the deficit, we got the debt down, we’re saving on interest costs.

    Fegan:

    But it’s still a trillion dollars. You grilled the former government on this. It’s still a trillion dollars. And I know it’s not all your fault, but it’s a trillion dollars. We’ve got kids that need to buy homes in 20 years’ time.

    Chalmers:

    That’s why we’re investing substantially in housing, $33 billion program. On the debt, don’t forget, we would have already had a trillion dollars of debt under our opponents. It’s $177 billion lower this year. I think that’s too easily dismissed and diminished the progress we’ve made in the budget. Same goes for the progress we made in the economy together as Australians.

    As I was saying a moment ago, we’ve got growth rebounding solidly in our economy: inflation down, real wages up, unemployment is low, interest rates have started to be cut, we’ve got the debt down. This is good progress, and we would be crazy to interrupt that progress with Peter Dutton’s secret cuts which would make Australians worse off.

    Fegan:

    What’s happening with the Coalition at the moment, Treasurer? Seems to be some rumblings. I hear or see reports yesterday that Peter Dutton had to lay down the law, that David Littleproud got pretty fired up.

    Chalmers:

    Yeah, they got fired up because basically the Coalition members and senators are forming an orderly queue to say that Angus Taylor’s not up to the job. It’s quite bizarre that Angus Taylor’s asking Australians to take him seriously when his own colleagues don’t. He’s been found out and he’s been found wanting.

    I think genuinely, it was a proper brain explosion we saw last night when he said, at a time when people are under cost‑of‑living pressures, they won’t support our tax cuts to help people meet the cost of living. I think that was a bizarre decision. I think it will come back to haunt him, and I think his colleagues will have a view about it behind the scenes.

    Fegan:

    Treasurer, you’re on the front page of every paper today, but can I just say congratulations to you because you are drinking out of a Brisbane Broncos mug. How good is that?

    Chalmers:

    I get a bit of feedback about that. Mostly from Dolphins, mostly from people –

    Fegan:

    Well, do you know what? You’re still a staunch. You’re still a staunch Bronco supporter. Right?

    Chalmers:

    Pick and stick. Absolutely.

    Fegan:

    Thank you.

    Chalmers:

    Broncos until I die, Pete.

    Fegan:

    Because I see that Peter Dutton has changed his tune a little bit. He’s now, well, Dolphins is in his electorate. A little bit of his electorate. Well, I don’t know.

    Chalmers:

    Right. I’m not sure about that. In fairness to him, I’m not sure about that. I’m certainly, I will always be a very enthusiastic supporter of the Brisbane Broncos. I still remember their first game in the comp in 1988 as a little tacker. I’m looking forward to watching the Battle of Brisbane on Friday night. Always a good contest.

    Fegan:

    Go the Broncos. Yeah, exactly. Go the Broncos. Good on you, Treasurer. Great to have your company this morning.

    Chalmers:

    Nice to talk to you again, Pete. All the best.

    Fegan:

    There he is, the Treasurer, Jim Chalmers.

    MIL OSI News –

    March 26, 2025
  • MIL-OSI Australia: Regional Ministerial Budget Statement 2025-26

    Source: Workplace Gender Equality Agency

    On behalf of the Albanese Labor Government, I’m proud to deliver our fourth Regional Ministerial Budget Statement.

    I’d like to acknowledge the traditional custodians of where we are today, and pay my respects to their Elders past, present and emerging.

    Mr Speaker, across our first term in Government, our message to regional Australians has been loud and clear – your postcode shouldn’t be a barrier.

    Just because you grow up in Bega on the NSW Far South Coast, or in Gladstone in Central Queensland, and just because you live at Mount Gambier in regional South Australia, or in the Pilbara Region in outback WA – doesn’t mean that the services, and the opportunities available to you should be second best.

    I say this as a proud regional Member of this place, and on behalf of my fantastic regional colleagues here with me today. 

    I say this as someone that’s always lived in our regions – from Traralgon in regional Victoria, to Merimbula on the NSW Far South Coast – where I watched my parents work hard every day to build a small business, and to provide our family with a better life.

    A regional community where I myself now run a small business with my husband, and where we’re raising our kids.

    And I say this as someone that’s had the privilege of spending a lot of time talking to regional people across Australia – both as the Member for the Mighty Eden-Monaro, and as Minister for Regional Development, Local Government and Territories.

    From the Hunter region in NSW, Caboolture in regional Queensland, Devonport in Tasmania – to communities across the 42,000 square kilometres in my electorate.

    Regional Australia is a great place to live, work, study, visit and invest – and I wouldn’t live anywhere else.

    Our regions generate a third of the nation’s economic output, and there’s so many opportunities that our Government wants to take advantage of.

    But you’d be living under a rock if you said life outside of our big cities doesn’t come without its unique challenges – it absolutely does. 

    Unlike those opposite though, on this side of the House we’re not shying away from that.

    I’m proud to be part of a Government that across its first term, has delivered record investments to improve the reliability and the accessibility of critical services that regional people rely on.

    To support more regional people to work and train closer to home – because you shouldn’t have to pack your bags to build your career. 

    To build more things in our own backyard, investing in the hard-work and know-how of regional people.

    To give regional Australians more support to buy or rent a home.

    To support local businesses and local economies to grow – with small businesses in particular the backbone of our regions.

    To ensure the local roads we drive every day to drop the kids off at school and to get to work, are safe, and keep pace with growing communities.

    To improve our major highways linking our cities to our regions, so more visitors support our local businesses, and experience everything we have to offer.

    To keep our regions connected and better prepared for natural disasters – something many regional communities, including across Eden-Monaro, have needed to rebuild from.

    And most importantly, to relieve immediate pressures on regional families and businesses.

    Which let’s not forget, those opposite talk a big game on – despite opposing every single cost of living measure to date, and committing to tearing apart every measure that’ll support regional Australians into the future.

    Because while we’re delivering record investments to Build Regional Australia’s Future, the wreckers opposite are determined to leave regional communities which aren’t the right colour on their spreadsheets behind.

    The Albanese Government is delivering better outcomes for every regional community – because we’re addressing the challenges, harnessing the opportunities, and taking the needs of our regions seriously. 

    Through our Regional Investment Framework, we’re ensuring targeted investments support regional people, the places they live, the services they need, and the industries that stimulate local economies.

    With investments through the 2025-26 Budget building on everything we’ve delivered across our first term. 

    Our number one priority has been easing pressures faced by regional families and businesses today, while supporting more work, training and economic opportunities outside of our big cites. 

    We’ve delivered tax cuts for every regional taxpayer – a huge impact for taxpayers in my own electorate of Eden-Monaro, putting an average of $1,633 back into their pockets, with another two tax cuts on the way – something those opposite just voted against.

    We’ve delivered $300 in Energy Bill Relief to millions of households and $325 to small businesses, along with cheaper childcare and cheaper medicines.

    We’ve cut $3 billion in student debt, with a further 20 per cent to be cut if we’re re-elected.

    And we’ve supported over 127,000 free TAFE places in our regions – from construction courses to childcare.

    We’re getting more people into industries screaming out for workers, after those opposite gutted the vocational education system during their failed decade.

    We’ve introduced legislation to make free TAFE permanent – something those opposite have said they’ll repeal, because as the Deputy Leader of the Opposition said in this very chamber – “if you don’t pay for it, you don’t value it.”

    But I want my kids and every regional person to know – your postcode and your bank balance shouldn’t limit your potential.

    Through this Budget we’ll provide additional cost-of-living relief, along with increased investments to remove study barriers.

    $1.8 billion to provide all households, and around one million small businesses, with an additional $150 in Energy Bill Relief.

    $800 million to expand our Help to Buy scheme to support more people get into their own home – including in our regions.

    This builds on the 32,000 regional Australians we’ve already helped into home ownership, through the Regional Home Guarantee.

    $626.9 million to support $10,000 incentive payments for construction sector apprentices – with $7.0 million to increase the Living Away from Home Allowance for apprentices.

    As an operator of a small plumbing business that hires apprentices, and having recently spent time with bricklaying apprentices at Queanbeyan – I know that every cent counts when you’re starting out, especially when you’re living away from home.

    That’s why we’re boosting apprentice wages and easing cost-of-living pressures – because we value their hard work, and we know that building this workforce is essential to delivering more regional homes.

    My mum, dad, brother, sister and husband all went to TAFE, which is why I’m incredibly proud to be part of a Government that’s strengthening the sector – and ensuring more regional people can build a better future. 

    Through this Budget, we’re delivering $407.5 million to states and territories, as part of the Better and Fairer Schools Agreement.

    Record funding to give our teachers, including in our regional schools, more support – to lift education standards, and to better support students from kindergarten through to year 12. 

    And if you want to go onto further study, existing investments like the 56 Regional University Study Hubs we’re delivering – from Port Augusta in South Australia, to Goulburn in my own electorate – will mean you don’t have to leave the region you love.

    A further $33.6 million will also flow to the Clontarf Foundation to support up to 12,500 First Nations boys and young men access better education support.

    We’re delivering record investments to continue improving the affordability and accessibility of regional healthcare – because when you need to see the doctor, and when you need to buy your script, your street address and wallet shouldn’t stop you. 

    We’ve already delivered $3.5 billion to triple the bulk billing incentive, supporting over 2.4 million additional claims across regional Australia.

    Through this Budget, we’re investing an additional $7.9 billion to deliver more bulk billing to all Australians, including in our regions.

    Having delivered the largest cut to the cost of medicines in the history of the Pharmaceutical Benefits Scheme, we’re now making cheaper medicines even cheaper.

    $689 million to bring a PBS script down to $25, keeping more money in the hip pockets of regional Australians – with our pensioners and concession cardholders to continue paying $7.70 for PBS medicines until 2030.

    $792.9 million to deliver more choice, lower costs and better health care for women – including the first PBS listing for new oral contraceptive pills in more than 30 years.

    Along with more bulk billing for long-term contraceptives, more endometriosis and pelvic pain clinics to treat more conditions, and more Medicare support for women experiencing menopause. 

    Regional health and aged care were left in crisis under those opposite – a mess the Albanese Government has been cleaning up from day one.

    We’ve delivered $17.7 billion to fund increases to the minimum award wage for aged care workers – to not only support and retain these critical workers – but to ensure that our loved ones get the care they need, as they get older.

    We’re delivering an additional $1.8 billion to strengthen our public hospitals and to reduce waiting times across Australia, bringing our hospital funding to a record $33.9 billion in 2025-26.

    We’ve also increased the number of regional GP training places, along with waiving HECS for doctors and nurses that work in our regions – getting more skilled workers where we need them most.

    Through this Budget, we’re investing $662.6 million to grow our health workforce.

    There will be hundreds more GP and rural generalist training places to grow the pipeline of future GPs – with fairer salary incentives for junior doctors who choose general practice as their specialty.

    100 more Commonwealth Supported Places for medical students a year from 2026, increasing to 150 more a year by 2028 – with a focus on encouraging students to pursue general practice in our regions.

    And hundreds of scholarships for nurses and midwives, to help meet our current and future demands.

    A re-elected Albanese Government will deliver another 50 Medicare Urgent Care Clinics across Australia, from Burnie in Tasmania, to Bega in my own electorate – with our $644.3 million investment.

    This builds on the 87 Medicare Urgent Care Clinics we’ve already delivered, which are making a huge difference.

    With 48 of these 137 clinics to be in our regions– from Broome in Western Australia, Townsville in Queensland, to Tamworth in New South Wales.

    The Urgent Care Clinic we delivered in Queanbeyan has already supported over 7,000 fully bulk billed presentations.

    Rusty, a local constituent of mine told me about the huge difference it made for him, when he had an infection.

    He walked right into the clinic and received the help he needed, for free – a service that’s also supported his children and grandchildren.

    As Rusty said, this type of clinic is critical to taking pressure off our hospitals – as we continue to rebuild the health sector.

    But regional services like this will cease to exist under those opposite, because you only have to look at the billions cut from Medicare by the Leader of the Opposition when he was Health Minister, to know their only plan for Medicare is cuts.

    No government has done more for regional services than the Albanese Government – but healthcare wasn’t the only service completely abandoned during the wasted decade by those opposite.

    We’re already investing $2.2 billion to strengthen regional communications, particularly in disaster-prone areas – after programs like the Mobile Black Spot Program were pork-barrelled by those opposite.

    Through our record investments in the NBN, we’ve fixed half of some streets being stuck on the unreliable copper network they rolled out, including just 15 minutes down the road at Jerrabomberra.

    Because it actually takes a little bit more than a string and a can to run a small business, and to work and study from home.

    In this Budget, we’re providing an additional $3.0 billion in equity funding to NBN Co to complete upgrades for all remaining Fibre to the Node premises, including connecting an additional 334,000 regional premises to high speed internet.

    A service that we can’t forget, would be sold off to the highest bidder under those opposite.

    We’re also introducing a Universal Outdoor Mobile Obligation – requiring telcos to provide access to mobile voice and SMS almost everywhere across Australia – which will have huge benefits for regional and remote communities, particularly during emergencies and disasters. 

    Natural disasters are something my own electorate of Eden-Monaro has felt deeply, which is why I’m proud the National Emergency Management Agency that we launched continues to support regional communities – most recently in Queensland and NSW during Ex-Tropical Cyclone Alfred.

    That’s on top of our $1 billion Disaster Ready Fund continuing to support regional communities to be better prepared.

    And our additional $35 million investment to boost our national aerial fleet – giving regional communities more emergency support when they need it most.

    But it’s not just during disasters when our regions need reliable aviation.

    Despite the Leader of the Nationals in the Senate telling Sky News just last week that the Opposition had been fighting for a more competitive aviation sector – the reality is they’ve sat idle at the departure gate. 

    Those opposite did nothing with the Sydney Airports Slot Review handed to them in 2021 – something we’ve responded to with our Aviation White Paper.

    And they’ve said that keeping Rex Airlines’ regional routes operating during the voluntary administration process is sabotaging the sale process.

    I’m proud the Albanese Government has kept Rex’s regional flights in the air, with an $80 million loan facility to Rex Administrators, and additional support to reduce the debt Rex owes.

    Because for regional communities like mine, these flights are critical to our local economy, accessing important health services, and for getting around.

    The reality of living in our regions is we need to travel longer for some services, which is why we’ll continue standing up for a strong regional aviation sector.

    But travelling by car is generally how we get around, which is why we’ve already increased local road funding for every council.

    Roads to Recovery funding is going up from $500 million to $1 billion per year, road Black Spot funding increasing to $150 million per year, we’ve launched our $200 million per year Safer Local Roads and Infrastructure Program – and we’ve continued investing in major transport projects.

    Because every local community should have confidence in the roads they’re driving on.

    In his Budget reply last year, the Leader of the Nationals said those opposite would deliver the strong infrastructure funding pipeline that our regional communities need. 

    But let’s not forget, they were responsible for an infrastructure pipeline that below out from 150 projects to 800 projects, without a single dollar extra being added to the Budget, and without the delivery. 

    Regional communities deserve better than promises in press release with no follow through, which is why we continue to deliver critical projects to Build Regional Australia’s Future.

    Funding through this Budget includes $7.2 billion for Bruce Highway safety upgrades in Queensland, $200 million towards duplicating the Stuart Highway from Darwin to Katherine.

    $40 million for the Main South Road Upgrade in South Australia, and $1.1 billion towards upgrades along the Western Freeway in Victoria.

    After colour-coded spreadsheets from those opposite, we’ve delivered on our commitment to establish transparent grant programs that every postcode can apply for.

    Our $600 million Growing Regions Program is already supporting 112 projects, with 29 projects supported under our $400 million Regional Precincts and Partnerships Program so far. 

    I had the pleasure of visiting Wagga’s Lake Albert – one of this region’s most popular recreational sites, which will be completely transformed thanks to $4.4 million in Growing Regions Funding.

    Projects like this are making our regions better places to live, to work and to invest – but having more housing to attract and retain workers is something every community tells me they need.

    We’ve already committed $32 billion in housing measures, including over 13,000 homes nationally under the first round of our Housing Australia Future Fund – many of these in our regions.

    That’s more than those opposite delivered in an entire decade – when they had no plan for building, and their only idea for turning more keys was letting people raid their super for a deposit. 

    To their credit, they’ve now said they’ll fund enabling infrastructure – labelling this a fantastic idea.

    So fantastic, we’re already doing it – through our $1.5 billion Housing Support Program.

    Including $27.2 million to support upgrading Marulan’s sewage treatment in the Mighty Eden-Monaro – laying the foundations for more housing.

    Through this Budget, we’re delivering $54 million to turbocharge advanced manufacturing of prefabricated and modular homes, getting more homes into our regions where we need them most – lifting our total housing commitments to $33 billion. 

    More housing is a key part of how we’re Building Regional Australia’s Future, as is supporting our regional businesses and regional economies to grow.

    Under those opposite, car manufacturers left our shores, leaving our regional people behind. 

    But Labor has always had the back of regional manufacturing, and we’ve shown that again with our new investment of $2.4 billion with the South Australian Government to save the Whyalla Steelworks.

    Supporting 1,100 direct workers, and encouraging more investment into Australian made steel. 

    This builds on our existing $22.7 billion Future Made in Australia agenda, ensuring we build more in our own backyard – which includes over $500 million to boost Australia’s battery manufacturing capabilities, and $1 billion to supercharge the production of solar panels in our regions.

    Our investments are putting regional communities at the centre of industries of the future – unlocking more secure and well-paid regional jobs, and ensuring that we train and retrain regional workforces.

    This includes $38.2 million to boost the diversity of our STEM workforce, with a focus on supporting more women secure jobs in these critical industries.

    Through this Budget, we’re delivering further investments to Build Regional Australia’s Future – by leveraging the competitive advantages that come with our vast energy resources, world-leading agricultural sector, and regional innovation.

    $250.0 million to accelerate the pace of Australia’s growing domestic Low Carbon Liquid Fuels industry – helping to drive economic growth and jobs in regional areas.

    $1.0 billion under our Green Iron Investment Fund to boost green iron manufacturing in our regions.

    This builds on our existing commitment of $2.0 billion to support aluminium smelters transition to renewables – in places like Portland in Victoria, Tomago in NSW, and in Queensland’s Gladstone region.

    From our factories to our fields, we’re backing our regions – with $11.0 million to tackle established pests and weeds in our agriculture and forestry sectors – keeping them productive

    An additional $20 million for a new round of the On Farm Connectivity Program so farmers can use the latest technology to make their work more efficient.  

    And $20.0 million to encourage more Australians to buy Australian-made products, which will have huge benefits for regional economies – because so much of what we love and rely on comes from our regions.

    In his Budget reply last year, the Leader of the Nationals said the Opposition will take decisive action to give regional Australians a fair go.

    But all we’ve seen since then is those opposite continue to vote against every single cost of living measure, while petrifying regional communities with their Nuclear thought bubble.

    An idea that was announced with zero consultation, and most importantly – one that will deliver zero savings for regional Australians and their power bills. 

    Since my last Regional Budget Statement, the Albanese Government has continued to relieve pressures on regional families and businesses, while improving access to the services and support regional people rely on – regardless of their postcode.

    Through our 2025-26 Budget we’re delivering more energy bill relief, making cheaper medicines even cheaper, and providing extra support to get more regional Australians into their own home.

    We’re strengthening Medicare and expanding regional health services, delivering further investments to boost regional connectivity, and investing in more support to help build workforces in our in-demand sectors.

    That’s because only the Albanese Government is serious about Building Regional Australia’s Future.

    MIL OSI News –

    March 26, 2025
  • MIL-OSI: Cosmian covercrypt achieves ETSI standardization for data protection in the post-quantum era.

    Source: GlobeNewswire (MIL-OSI)

    Paris, March 26, 2025 – Cosmian, a leader in securing cloud computing and confidential AI, confirms its technological breakthrough in proactive post-quantum security.
    With its Cosmian covercrypt solution, a high-performance hybrid encryption library designed to integrate seamlessly with security offerings on the market, Cosmian now assures enterprises of the inviolability of their sensitive data in the post-quantum era.

    This transition to post-quantum cryptography (PQC) has become an urgent priority, as highlighted by ANSSI and BSI in their joint statement on securing the future of encryption. The UK’s National Cyber Security Centre (NCSC) has also recently published its PQC migration timelines, aligning closely with the US roadmap. However, recent ANSSI studies highlight the lack of structured offerings in this field, despite the pressing need due to the emergence of quantum computing threats.

    Establishing a Post-Quantum Standard

    As part of the transition to secure encryption in the face of quantum threats, Cosmian has been a member of the ETSI Cyber QSC (Quantum-Safe Cryptography) working group since February 2023. Cosmian participated in the initiative that led to the publication of the report “Efficient Quantum-Safe Hybrid Key Exchanges with Hidden Access Policies”, approved and ratified under the reference ETSI TS 104 015 in February 2025.“With post-quantum threats approaching, encryption must evolve. Cosmian covercrypt is designed to provide enterprises with a future-proof solution that combines high security, efficiency, and ease of integration,” said Chloé Hébant, Cryptographer at Cosmian. “By leveraging hybrid cryptography, we ensure that data remains protected against both classical and quantum attackers.”


    Cosmian covercrypt, an essential component in the quantum transition

    Organizations managing sensitive data need to adopt quantum-proof encryption solutions now”, insist ANSSI and BSI. Cosmian covercrypt’s “Encrypt now, decrypt later” strategy guarantees long-term confidentiality and compliance with new cybersecurity standards. Its hybrid nature ensures that both conventional and post-quantum encryption layers need to be compromised to breach data security, significantly enhancing data protection.

    Cosmian covercrypt is based on the KEMAC (Key Encapsulation Mechanism with Access Control) scheme, which enables precise data access control. With KEMAC, an encapsulated session key can only be decapsulated if all the rights defined at the time of encapsulation are respected. This approach enables companies to manage access efficiently: while IT departments define access to directories, KEMAC ensures granular control over who is authorized to decrypt data.

    What’s more, since data encrypted today can be decrypted later (ANSSI, BSI), Cosmian’s KEMAC specification directly integrates PQ/T hybridization, combining pre-quantum and post-quantum protection for lasting security. The ETSI standard supporting Cosmian covercrypt guarantees future-proof encryption by including practical functions for dynamic access policy management, such as efficient user revocation and rights updating.

    “At Cosmian, our mission is to advance cryptographic security with practical and deployable solutions,” said David Pointcheval, Chief Scientific Officer at Cosmian. “With the ETSI standardization of our KEMAC approach, we are taking a significant step towards scalable post-quantum security for enterprises worldwide.”Resources & Further Information

    About Cosmian
    Since 2018, Cosmian has been at the forefront of next-generation cryptography, delivering cutting-edge solutions for securing the public cloud and confidential AI. Our suite of data protection solutions, including massive on-the-fly encryption/decryption, confidential virtual machines in the cloud, confidential computing, confidential AI, searchable encryption, empowers organizations to take full control of their data security across both on-premises and cloud environments.For more information, visit cosmian.com/

    Press Contact – Raoul Agency
    Sibylle de Villeneuve – sibylle@agenceraoul.com – +33 (0)6 45 29 58 57

    The MIL Network –

    March 26, 2025
  • MIL-OSI: GAM announces 2024 full year results

    Source: GlobeNewswire (MIL-OSI)

    26 March 2025

    PRESS RELEASE

    Ad hoc announcement pursuant to Art. 53 Listing Rules:

    GAM announces 2024 full year results

    Strong progress in implementing turnaround strategy. GAM continues to target profitability in fiscal year 2026.

    Financial Highlights for Full Year 2024

    • IFRS net loss of CHF 70.9 million compared to CHF 82.1 million for FY 2023.
    • Underlying loss before tax of CHF 66.8 million compared to CHF 49.5 million for FY 2023.
    • AuM at CHF 16.3 billion compared to CHF 19.3 billion as at 31 December 2023.
    • Cost optimisation initiatives across the business resulted in a 20% decrease in underlying expenses compared to FY 2023. The full impact of these cost optimisation initiatives will be reflected in FY 2025 and beyond.
    • Successful CHF 100 million rights issue completed in November 2024, which resulted in our anchor shareholder, NJJ Holding SAS (through its holding in Rock Investment SAS (“Rock”)) becoming our majority shareholder.
    • The maturity of the existing CHF 100 million Rock loan facility has been extended until 31 December 2027.
    • GAM is now a highly scalable pure investment platform with strong global distribution capabilities focusing on three core areas to drive sustainable growth and profitability: Specialist Active Investing, Alternative Investing and Wealth Management.
    • GAM continues to target profitability in fiscal year 2026.

    Strategic Highlights

    • Launched GAM Alternatives, providing access to in-house and third-party alternative managers focusing on absolute return strategies and best-in-class talent.
    • A new, high performing and successful European Equity team joins GAM in 2025.
    • Partnering with Sun Hung Kai & Co. Ltd to drive growth and enhance our distribution capabilities across Greater China including Hong Kong, mainland China, Taiwan, and Macau.
    • In 2025, GAM will continue to partner with best-in-class external managers, to include the development of new products and the distribution of their own existing products to GAM clients.

    Elmar Zumbuehl, Group CEO at GAM said: “We have made strong progress in implementing GAM’s turnaround strategy and have now evolved into being a pure play investment management firm, but we are not finished yet. The cost optimisation initiatives implemented in 2024 will yield their full benefit in 2025 and beyond. While we stay focused on further cost optimisation, our main emphasis is growing our AuM and revenues as we continue our turnaround. With an unwavering commitment to our clients, and an expanding suite of innovative and distinctive products, we continue to build positive momentum and strengthen our market position. Backed by our majority shareholder, we continue to target profitability in fiscal year 2026 and remain focussed on delivering for our clients and all our stakeholders.”

    Summary Financials

    In 2024, we reported IFRS net loss after tax of CHF 70.9 million, compared with an IFRS net loss after tax of CHF 82.1 million in 2023. The loss in 2024 was mainly driven by the underlying net loss after tax of CHF 66.9 million.

    Please refer to the ‘Financial Results for FY 2024’ section later in this press release for full information.

    Financial Strength

    In November 2024, GAM completed its CHF 100 million fully underwritten ordinary capital increase by way of a rights issue to support the implementation of GAM’s strategy and provide long-term financial stability. Given Rock’s underwriting commitment, NJJ Holding SA (indirectly) is now the majority shareholder of GAM following the rights issue.

    The existing CHF 100 million Rock loan facility remains in place with its maturity extended to 31 December 2027.

    Strategy Update

    GAM’s strategy is designed to achieve sustainable growth and profitability by delivering best possible investment performance and exemplary service for our clients by focusing on our Investment and Wealth Management capabilities. The four pillars of our strategy remain:

    • Focusing on clients in existing core markets;
    • Amplifying and growing core active equity, fixed income and multi-asset strategies by investing in talent and product ideas;
    • Diversifying into new investment product areas and our Wealth Management offering by leveraging GAM’s heritage in active management, building strategic partnerships, and its alternatives and hedge funds platform; and
    • Enhancing effectiveness by reducing complexity.

    GAM is now focusing exclusively on its Investment (Specialist Active and Alternatives) and Wealth Management businesses, expanding its distribution reach and capabilities, amplifying its core active strategies, and diversifying into new product areas, including building out our higher margin alternatives capabilities.

    We have made strong progress throughout 2024 on our four-pillar strategy to transform GAM into a focused, client-centric, and profitable business.

    Focusing on clients

    Focusing on our clients in our existing core markets has been the most important way to rebuild GAM. In key markets where we have clients, but lack scalable distribution, we have, and will continue to, add partnerships to support our growth strategy and provide a broader range of client’s access to unparalleled investment expertise, opportunities, and exceptional outcomes across specialist active and alternative investment strategies.

    We established a strategic alliance with Sun Hung Kai & Co. Ltd. to grow our client base, distribute our products, and innovate our alternatives offering across the Greater China region, including Hong Kong, mainland China, Taiwan, and Macau.

    We have also enhanced our regional presence and client coverage by hiring new Heads of Distribution across Switzerland, Germany, Austria, Iberia, the UK, Australia, New Zealand, and France to drive our local market presence. This significant investment into our client facing teams will enable GAM to provide clients with excellent local contacts, strong relationship management and access to unparalleled investment expertise targeting exceptional outcomes.

    We additionally expanded our client reach through opening a second US office in Miami to cover the US international and Latin American markets and we are close to gaining customary approvals to open our planned branches in Paris and Milan.

    Amplifying and growing core active equity, fixed income, and multi-asset strategies by investing in talent and product ideas

    We are enhancing our capabilities by recruiting first-class investment talent in alternatives, systematic and equities teams.

    We have established a multi-asset centre of excellence in a global team to optimise all our multi-asset investment capabilities, enhance client outcomes, and align with evolving market dynamics and client needs. The high quality and excellent performance of this team will allow GAM to grow its wealth management business.

    In February 2025, we announced the hiring of three high performing and successful European Equity team members from Janus Henderson Investors. These strategic hires underscore GAM’s steadfast dedication to providing clients with access to unparalleled investment expertise and exceptional outcomes. The team brings extensive experience, having managed over EUR 6.5 billion in European Equity funds on behalf of institutional and retail clients globally.

    In addition, we have strengthened our sustainability and stewardship practices, meeting the principles of the UK and Swiss Stewardship Codes. Today GAM released its 2024 Sustainability Report which is available at www.gam.com

    Diversifying into new investment products while expanding the wealth management offering by leveraging GAM’s heritage in active management, strategic partnerships, and its alternatives and hedge funds platform

    Randel Freeman joined GAM in 2024 as Co-head / Co-CIO of GAM Alternatives to build out our alternative investments platform to meet growing investor demand with differentiated offerings. In addition, in 2025, we hired two senior sales specialists with deep experience in Alternatives distribution.

    In 2024, we launched GAM funds to introduce and distribute Avenue Capital’s Sports Opportunities fund, plus partnered with Arcus Investment to distribute their Japanese long/short equities fund. GAM also partnered with world leading Trafigura Group’s subsidiary Galena Asset Management to manage the GAM Commodities fund providing best-in-class sector expertise. This provides our clients access to exclusive and attractive commodity investment opportunities.

    We are launching the GAM LSA Private Shares strategy in Europe to provide access for European clients to this award-winning evergreen, late-stage private equity fund.

    Throughout 2025, GAM will be assessing M&A opportunities to enhance existing offerings, attracting best-in-class long-term strategic partnerships, and recruiting top talent to our core business areas globally.

    Enhancing effectiveness by reducing complexity

    Following the transfer of our fund services business for third-party funds we also successfully transitioned our Luxembourg, Irish and Swiss fund management company (ManCo) activities to Apex Group and 1741 Group in Q4 2024. In addition, we consolidated our operations onto our cloud based SimCorp investment management platform. GAM now operates on a global platform that delivers operational efficiencies.

    These implementations pave the way to a much less complex operating model underpinning and delivering best outcomes for our clients.

    GAM is now a highly scalable global investment platform with strong global distribution capabilities focusing on three core areas to drive sustainable growth and profitability: Specialist Active Investing, Alternative Investing and Wealth Management.

    Business Areas

    GAM Investments is focused on three core business areas to drive sustainable growth and profitability:

    • GAM Specialist Active: Deep expertise, experience and specialisms unlocking core and niche returns in equities, fixed income, and multi-asset investing;
    • GAM Alternatives: Access to in-house and third-party alternative investment managers focusing on absolute return strategies and best-in-class talent; and
    • GAM Wealth Management: Multi-asset solutions with tailored portfolios for high-net-worth individuals, charities and trusts, utilising best-of-breed GAM and third-party products.

    These three core business areas share and benefit from GAM’s global platform and agile operating model and modern technology.

    Investment Performance

    GAM has continued to deliver strong overall investment performance across our diverse and distinctive products, with 64% of assets under management (AuM) outperforming their three-year benchmark and 89% outperforming their five-year benchmark, as at 31 December 2024. Despite some weaker short-term performance in equities, the longer-term 5-year performance remains strong.

    Percentage of GAM Fund AuM Outperforming Benchmark

        3 years 3 years 5 years 5 years
    Business Area Asset Class 31 Dec 2024 31 Dec 2023 31 Dec 2024 31 Dec 2023
    Specialist Active Fixed income 94% 98% 95% 91%
    Specialist Active Equity 1% 39% 79% 59%
    Alternatives Alternatives 60% 73% 75% 96%
    Total   64% 78% 89% 81%

    % of AuM in funds outperforming their benchmark (excluding mandates and segregated accounts) across our business areas. Three- and five-year investment performance based on applicable AuM of CHF 9.0 billion and CHF 9.0 billion, respectively.

    Compared to our peer group performance remained strong, 66% of AuM outperformed their three-year Morningstar peer group and 82% outperformed their five-year Morningstar peer group, as at 31 December 2024.

    Percentage of GAM Fund AuM Outperforming Morningstar Peer Group

        3 years 3 years 5 years 5 years
    Business Area Asset Class 31 Dec 2024 31 Dec 2023 31 Dec 2024 31 Dec 2023
    Specialist Active Fixed income 61% 53% 60% 50%
    Specialist Active Equity 20% 51% 89% 89%
    Alternatives Alternatives 91% 89% 95% 96%
    Total   66% 66% 82% 76%

    GAM continues to be recognised for its investment performance, including having been awarded the overall best European small group 2025 by Lipper. Four GAM funds (including two funds of our Swiss Equity strategy) won Lipper’s 2025 top performance awards across multiple countries. For the second time, at the Citywire Investment Performance Awards, GAM Multi-asset won the Best Large Firm Award. GAM won the Wealth Management PAM 2024 award for its growth portfolios. GAM’s Sustainable Climate Bond strategy won and was chosen as the best ESG Investment Fund in the Green, Social and Sustainability Bonds category at the ESG Investing Awards 2024. For further details on these and other awards please visit http://www.gam.com/awards.

    Assets Under Management and Net Flows by Business Area

    Total AuM were CHF 16.3 billion as at 31 December 2024, compared to CHF 19.3 billion as at 31 December 2023. Net outflows of CHF 4.4 billion were partially offset by positive market and foreign exchange movements of CHF 2.0 billion.

    Business Area Opening AuM
    1 Jan 2024
    Net
    flows
    Disposal(1) Market/FX
    movements
    Closing AuM
    31 Dec 2024
    Specialist Active 17.5 (3.9) (0.6) 1.9 14.9
    Alternatives 0.9 (0.4)   – 0.5
    Wealth Management 0.9 (0.1)   0.1 0.9
    Total 19.3 (4.4) (0.6) 2.0 16.3
    (1) In the second half of 2024, the sale of the UK Equity Income Fund to Jupiter Asset Management completed and subsequently is reflected as a disposal. Therefore, net outflows of CHF 0.6 billion in 2024 have been reflected as a disposal.

    Financial Results for FY 2024

    The average management fee margin earned on investment management AuM in 2024 was 40.4 basis points, compared with the average margin for the financial year 2023 of 49.7 basis points. The change in average management fee margin primarily reflects the mix of assets under management across products and sub-advisory agreements with existing and new partners.

    Net management fees and commissions in 2024 totalled CHF 75.9 million, down from CHF 124.4 million in 2023 due primarily to the sale of the third-party fund services business in January 2024, lower average AuM and reduced average management fee margin in investment management.

    Underlying net performance fees totalled CHF 1.9 million, down from CHF 4.8 million in 2023.

    Underlying net other income/expenses includes net interest income and expenses, the impact of foreign exchange movements, net gains and losses on seed capital investments and hedging, as well as fund-related fees and service charges. In 2024, a net loss of CHF 2.3 million was recognised, compared with a CHF 0.4 million net loss in 2023. The 2024 net loss was mainly driven by the interest expenses incurred on the Rock Investment SAS loan facility and the impact of foreign exchange movements. The IFRS net other expense in 2024 amounts to CHF 4.4 million. The difference between the underlying and the IFRS net other expense of CHF 2.1 million mainly relates to a net foreign exchange loss on pension loan note offset by other income driven by the assignment of the UK property lease to a third party.

    Underlying personnel expenses decreased by 26% to CHF 76.6 million in 2024, compared with CHF 96.8 million in 2023. Fixed personnel costs decreased by 28%, driven by lower headcount. Headcount stood at 294 FTEs as at 31 December 2024, compared to 478 FTEs as at 31 December 2023. Variable compensation in 2024 fell to CHF 11.2 million from CHF 13.1 million in 2023, mainly driven by lower management and performance fees which impacted variable compensation arrangements. The underlying personnel expenses compares to IFRS personnel expenses of CHF 81.0 million. The difference between the underlying and the IFRS personnel expenses of CHF 4.4 million primarily relates to a reorganisation charge. (For further information, see note 6 of the condensed consolidated interim financial statements).

    Underlying general expenses in 2024 were CHF 52.1 million, down from CHF 65.0 million in 2023 due to cost optimisations initiatives across the business. This compares to IFRS general expenses of CHF 54.0 million. The difference between the underlying and the IFRS general expenses of CHF 1.9 million mainly relates to the Group’s reorganisation initiatives.

    Underlying depreciation and amortisation charges were CHF 13.8 million in 2024 compared to CHF 16.5 million in 2023. There is no difference between underlying and IFRS amounts.

    The underlying pre-tax loss in 2024 was CHF 66.8 million, compared to a CHF 49.5 million underlying pre-tax loss in 2023. The higher loss was driven mainly by lower net fee and commission income being only partially offset by lower personnel and general expenses. The underlying loss compares to an IFRS net loss before tax of CHF 69.6 million. The difference of CHF 2.8 million mainly relates to the remeasurement of the brand intangible, strategic initiative expenses and foreign exchange loss on pension loan note. (For further information, see note 6 of the condensed consolidated interim financial statements).

    The underlying income taxes in 2024 was a tax expense of CHF 0.1 million compared to a tax expense of CHF 0.3 million in 2023.

    Diluted underlying losses per share in 2024 was a negative CHF 0.25, compared to a negative of CHF 0.32 in 2023. This compares to a diluted IFRS earnings per share of negative CHF 0.27 in 2024. The difference between the diluted underlying and the diluted IFRS earnings per share of CHF 0.02 relates to the lower underlying net loss.

    Cash and cash equivalents as at 31 December 2024 were CHF 65.1 million, down from CHF 87.2 million as at 31 December 2023.This reduction was driven by the losses made by the Group partially offset by the proceeds received from the ordinary capital increase made by way of a rights offering in November 2024.

    Adjusted tangible equity as at 31 December 2024 was CHF 58.5 million, up from CHF 20.9 million as at 31 December 2023.The main contributor to this increase was ordinary capital increase by way of a rights issue that took place in November 2024. See page 17 of our Annual Report 2024 for full definition of adjusted tangible equity.

    The Board of Directors proposes to shareholders that no dividend will be paid for financial year 2024 given the underlying net loss in 2024.

    Outlook

    GAM continues to focus on implementing its strategy. Our priority is to achieve sustainable overall positive net inflows by rebuilding GAM’s distribution capabilities with a focus on our existing products and new product launches. The timeline for achieving these net inflows will be driven by our success in delivering our strategy, subject to market conditions. GAM continues to target profitability in fiscal year 2026.

    Additional information

    Results Centre | [FY2024 year report] | [FY2024 Investor presentation] | [FY2024 Investor workbook] | [2024 Sustainability Report] | [GAM corporate calendar]

    Investor Relations        
    Magdalena Czyzowska        
    T +44 (0) 207 917 2508        
    Media Relations        
    Colin Bennett        
    T +44 (0) 207 393 8544

    Visit us: www.gam.com
    Follow us: X and LinkedIn

    About GAM Investments

    GAM Investments is a highly scalable global investment platform with strong global distribution capabilities focusing on three core areas, Specialist Active Investing, Alternative Investing and Wealth Management, that is listed in Switzerland. It delivers distinctive and differentiated investment solutions across its Investment and Wealth Management businesses. Its purpose is to protect and enhance clients’ financial future. It attracts and empowers brightest minds to provide investment leadership, innovation and a positive impact on society and the environment. Total assets under management were CHF 16.3 billion as of 31 December 2024. GAM Investments has global distribution with offices in 14 countries and is geographically diverse with clients in almost every continent. Headquartered in Zurich, GAM Investments was founded in 1983 and its registered office is at Hardstrasse 201 Zurich, 8037 Switzerland. For more information about GAM Investments, please visit www.gam.com

    Other Important Information

    This release contains or may contain statements that constitute forward-looking statements. Words such as “anticipate”, “believe”, “expect”, “estimate”, “aim”, “project”, “forecast”, “risk”, “likely”, “intend”, “outlook”, “should”, “could”, “would”, “may”, “might”, “will”, “continue”, “plan”, “probability”, “indicative”, “seek”, “target”, “plan” and other similar expressions are intended to or may identify forward-looking statements.

    Any such statements in this release speak only as of the date hereof and are based on assumptions and contingencies subject to change without notice, as are statements about market and industry trends, projections, guidance, and estimates. Any forward-looking statements in this release are not indications, guarantees, assurances or predictions of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the person making such statements, its affiliates and its and their directors, officers, employees, agents and advisors and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct and may cause actual results to differ materially from those expressed or implied in any such statements. You are strongly cautioned not to place undue reliance on forward-looking statements and no person accepts or assumes any liability in connection therewith.

    This release is not a financial product or investment advice, a recommendation to acquire, exchange or dispose of securities or accounting, legal or tax advice. It has been prepared without taking into account the objectives, legal, financial or tax situation and needs of individuals. Before making an investment decision, individuals should consider the appropriateness of the information having regard to their own objectives, legal, financial and tax situation and needs and seek legal, tax and other advice as appropriate for their individual needs and jurisdiction.

    Attachment

    • GAM announces FY 2024 results_EN_adhoc

    The MIL Network –

    March 26, 2025
  • MIL-OSI China: From music to mastery, Myanmar students learn Chinese through song

    Source: China State Council Information Office 3

    Ko Si Thu, a 27-year-old engineer from Kyaukphyu in Rakhine state, Myanmar, is on a journey to master the Chinese language.

    With numerous Chinese projects in his hometown, he realized the importance of learning a foreign language to access better opportunities.

    His approach is to join a Chinese singing class at the China Cultural Center in Yangon. He said he began learning Chinese about four months ago.

    “I want to learn Chinese effectively, so I joined the singing class,” he said while waiting for his lesson on Tuesday.

    Although he doesn’t consider himself a singer, he believes music will help improve his pronunciation and tone. “I’ve been learning tones and vocal training in the class,” he said, adding that he enjoys the songs of Teresa Teng.

    Before joining the singing class, he had already taken a Chinese language course at the center. “There are many Chinese-invested projects in Kyaukphyu, so I think mastering a foreign language is essential. Once I become fluent, I want to work in my hometown,” he said.

    Beyond language, Ko Si Thu has also developed a deeper appreciation for Chinese culture. “I feel connected to Chinese traditions. I’m interested in tea-making, calligraphy, and martial arts like Tai Chi,” he said.

    Like Ko Si Thu, Ma Pwint Hayman Tun, a 27-year-old teacher, also joined the vocal class. “I enjoy dancing and singing, so I joined. I’ve been learning Chinese for three and a half years,” she said.

    Coming from a Myanmar-born Chinese family, she has always felt a deep connection to the language and culture. “I also attended Chinese language and cooking courses at the center,” she said.

    “This is my first time learning to sing. Some songs are hard to understand, but I can feel their emotions. I prefer classic songs over modern ones,” she said, adding that she enjoys music by Chinese artists Xiao Zhan and Wang Yibo.

    “Chinese is becoming more popular nowadays,” she said. Beyond music, she is also fascinated by Chinese paintings and cuisine, especially Sichuan hotpot and steamed buns (baozi).

    For Ma Su Lae Yadanar, a 24-year-old Chinese bookseller, inspiration came from her elder sister. “I used to accompany my sister to Chinese singing events, which made me want to sing Chinese songs too,” she said.

    Though she attended short-term Chinese classes at temples as a child, she resumed her studies a year and a half ago. “This is my first time in a Chinese singing class. I prefer modern songs over old ones,” she said.

    For her, the class is an opportunity to improve both her language and singing skills.

    The three-month course at the China Cultural Center in Yangon is led by Ko Phyo, a 31-year-old vocal trainer.

    Ko Phyo believes music plays a crucial role in cultural exchange. “My goal is for my students to be able to sing Chinese songs by the end of the course,” he said.

    With over ten years of experience in singing, he emphasized music’s universal nature. “Even if people speak different languages, they can share the same emotions through music. Songs are a way to understand and learn about a culture,” he explained.

    Xiang Jianbo, the center’s director, introduced the singing course to attract young people to Chinese language learning. “Young people in Myanmar are increasingly interested in Chinese songs, so we organized this course to introduce modern Chinese music,” he said.

    He also highlighted the center’s broader mission. “Our goal is to spread Chinese arts and culture. Since music is a powerful medium for cultural exchange, this is our first singing course, and we will offer more if interest continues to grow.”

    The singing course is part of a summer program celebrating the 75th anniversary of China-Myanmar diplomatic relations. “By introducing Chinese culture, from traditional to modern times, we aim to enhance mutual understanding between our people,” Xiang said.

    Given the presence of many Chinese companies in Myanmar, the center also plans to launch a Myanmar singing course for overseas Chinese to further strengthen cultural ties, he said.

    The singing course consists of 19 sessions, each lasting 1.5 hours and held twice a week. It was opened last week and will run until May 29, according to the center.

    MIL OSI China News –

    March 26, 2025
  • MIL-OSI China: High-level dialogue held during Boao Forum for Asia

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

    High-level dialogue held during Boao Forum for Asia

    Updated: March 26, 2025 13:38 Xinhua
    This photo taken on March 25, 2025 shows a scene at a high-level dialogue themed “China’s Reform and Economic Prospect” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province. [Photo/Xinhua]
    Wu Xiaoqiu, president of China Capital Market Research Institute and dean of the National Finance Research Institute of Renmin University of China, speaks at a high-level dialogue themed “China’s Reform and Economic Prospect” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province on March 25, 2025. [Photo/Xinhua]
    Peng Sen, president of the China Society of Economic Reform, speaks at a high-level dialogue themed “China’s Reform and Economic Prospect” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province on March 25, 2025. [Photo/Xinhua]
    Huang Qifan, academic advisor of the China Finance 40 Forum, speaks at a high-level dialogue themed “China’s Reform and Economic Prospect” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province on March 25, 2025. [Photo/Xinhua]
    Guests attend a high-level dialogue themed “China’s Reform and Economic Prospect” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province on March 25, 2025. [Photo/Xinhua]

    MIL OSI China News –

    March 26, 2025
  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on March 26, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 75,000
    Total amount of bids received (in ₹ crore) 35,486
    Amount allotted (in ₹ crore) 35,486
    Cut off Rate (%) 6.26
    Weighted Average Rate (%) 6.27
    Partial Allotment Percentage of bids received at cut off rate (%) NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2461

    MIL OSI Economics –

    March 26, 2025
  • MIL-OSI United Nations: Can renewable energy survive climate change?

    Source: United Nations MIL OSI b

    The race towards renewable energy is accelerating, and for all the looming challenges of the climate crisis, signs of progress are there: Solar panels are beginning to blanket deserts, wind turbines dot coastlines, and hydropower dams are harnessing powerful rivers to churn out clean electricity.

    Yet, even as the push for renewables gains momentum – driven by cheaper technology and an urgent need to slash carbon emissions – experts are waving cautionary flags: Because renewable energy sources depend on weather conditions, climate change is increasingly dictating, and jeopardizing, renewable energy production.

    This trend became more pronounced in 2023, marked by a volatility that disrupted renewable energy generation globally. Temperatures soared 1.45°C above pre-industrial levels, and the shift from La Niña to El Niño altered rainfall, wind patterns, and solar radiation.

    Hamid Bastani, a climate and energy expert with the World Meteorological Organization (WMO), provided a stark example of this impact. “In Sudan and Namibia, hydropower output dropped by more than 50 per cent due to unusually low rainfall,” he said in an interview with UN News.

    In Sudan, rainfall totaled just 100 millimeters (less than four inches) in 2023—less than half the national long-term average.

    “This is a country where hydropower makes up around 60 per cent of the electricity mix. These reductions could have significant implications,” Mr. Bastani explained, noting that the power system supports a large and rapidly growing population of about 48 million.

    These shifts were not limited to hydropower. Wind energy, too, showed signs of stress under changing climate conditions.

    China, which accounts for 40 per cent of global onshore wind capacity, saw only a modest 4 to 8 per cent increase in output in 2023, as wind anomalies disrupted generation. In India, production declined amid weaker monsoon winds, while some regions in Africa experienced even sharper losses, with wind output falling by as much as 20 to 30 per cent.

    South America, meanwhile, saw the scale tip in the other direction. Clear skies and elevated solar radiation boosted solar panel performance, particularly in countries like Brazil, Colombia, and Bolivia.

    As such, the region saw a four to six per cent increase in solar generation – a climate-driven bump that translated to roughly three terawatt-hours of additional electricity, enough to power over two million homes for a year at average consumption rates.

    “This is a good example of how climate variability can sometimes create opportunity,” explains Roberta Boscolo, who leads WMO’s New York Office and formerly the agency’s climate and energy work. “In Europe, too, we are seeing more days with high solar radiation, meaning solar power is becoming more efficient over time.”

    Ms. Boscolo and Mr. Bastani are among the contributors to a recent WMO–IRENA study examining how climate conditions in 2023, shaped by El Niño, global warming, and regional extremes, affected both renewable energy generation and energy demand worldwide.

    ADB/Patarapol Tularak

    Solar power accounted for over 73 percent of all new renewable capacity added globally in 2023, making it the fastest-growing source of energy worldwide.​

    Systems built on stability, in a world that is anything but

    Ms. Boscolo, who has spent years working at the intersection of climate science and energy policy, is quick to point out the vulnerability of renewable energy infrastructure. Dams, solar farms, and wind turbines are all designed based on past climate patterns, making them susceptible to the changing climate.

    Take hydropower. Dams rely on predictable seasonal flows, often fed by snowmelt or glacial runoff. “There will be a short-term boost in hydropower as glaciers melt,” she said. “But once those glaciers are gone, so is the water. And that is irreversible – at least on human timescales.”

    This pattern is already unfolding in regions like the Andes and the Himalayas. If the meltwater disappears, countries will need to replace the way they generate power or face long-term energy deficits.

    A recent report from the UN Environment Programme (UNEP), for example, pointed out that rising sea levels and stronger storms pose growing risks to energy production facilities, including solar farms located near coastlines.

    Similarly, increasingly intense and frequent wildfires can also take down power lines and black out entire regions, while extreme heat can reduce the efficiency of solar panels and strain grid infrastructure—just as demand for cooling peaks.

    Nuclear power plants are also at risk in the changing climate.

    “We have seen nuclear power plants that could not operate because of the lack of water… for cooling,” Ms. Boscolo said. As heatwaves become more frequent and river levels drop, some older nuclear facilities may no longer be viable in their current locations.

    “This is another thing that should be looked at with different eyes in the future . When we design, when we build, when we project power generation infrastructure, we really need to think about what the climate of the future will be, not what was the climate of the past”.

    IMF/Crispin Rodwell

    Global renewable electricity capacity grew by nearly 50 percent in 2023—the largest annual increase in two decades—with most additions coming from solar and wind.​

    Adapting to the future through data, AI and technology

    The expert underscores that one thing is certain: Our planet is heading towards a future in which electricity, especially from renewable sources, will be central.

    “Our transport is going to be electric; our cooking is going to be electric; our heating is going to be electric. So, if we do not have a reliable electricity system, everything is going to collapse. We will need to have this climate intelligence when we think about how to change our energy systems and the reliability and the resilience of our energy system in the future.”

    Indeed, to adapt, both experts emphasized a need to embrace what they call climate intelligence – the integration of climate forecasts, data, and science into every level of energy planning.

    “In the past, energy planners worked with historical averages,” Mr. Bastani explained. “But the past is no longer a reliable guide. We need to know what the wind will be doing next season, what rainfall will look like next year – not just what it looked like a decade ago.”

    In Chile, for instance, hydropower generation surged by as much as 80 per cent in November 2023, due to unusually high rainfall. While this increase was climate-driven, experts say advanced seasonal forecasting could help dam operators better anticipate such events in the future and manage reservoirs to store water more effectively.

    Similarly, wind farm workers can use forecasts to schedule maintenance during low-wind periods – minimizing downtime and avoiding losses. Grid operators, too, can plan for energy spikes during heatwaves or droughts.

    “We now have forecasts that span from a few seconds ahead to several months,” Mr. Bastani said. “Each one has a specific application – from immediate grid balancing to long-term investment decisions.”

    WMO/Sandro Puncet

    Improved climate forecasting can help energy systems plan days to seasons ahead.

    Artificial intelligence (AI) is lending a hand: Machine learning models trained on climate and energy data can now predict resource fluctuations with higher resolution and accuracy. These tools could help optimize when to deploy battery storage or shift energy between regions, making the system more flexible and responsive.

    “These models can help operators better anticipate fluctuations in wind, rainfall, or solar radiation”, Mr. Bastain explained.

    For example, two recent WMO energy mini projects illustrated how artificial intelligence can be applied in real-world renewable energy planning. In Costa Rica, the agency worked with national energy authorities to develop and implement an AI-based model for short-term wind speed forecasting. The tool is now integrated into the Costa Rican Electricity Institute’s internal energy forecasting platform, helping optimize operations at selected wind farms.

    In Chile, another project focused on floating solar technology, using AI to estimate evaporation rates on reservoirs. The results, now incorporated into Chile’s official Solar Energy Explorer platform, showed that floating solar panels can reduce water evaporation by up to 85 per cent in summer, with a national average of 77 per cent.

    Indeed, the promise and challenge of climate-smart renewable planning are most evident in the Global South. Africa, for instance, boasts some of the best solar potential on the planet, yet only two per cent of the world’s installed renewable capacity is found on the continent.

    Why the gap? Ms. Boscolo points to a lack of data and investment.

    “In many parts of the Global South, there just is not enough observational data to create accurate forecasts or make energy projects bankable,” she said. “Investors need to see reliable long-term projections. Without that, the risk is too high.”

    WMO is working to improve weather and energy monitoring in underserved regions, but progress is uneven. The agency is calling for more funding for local data networks, cross-border energy planning, and climate services tailored to regional needs.

    “This is not just about climate mitigation,” Ms. Boscolo added. “It is a development opportunity. Renewable energy can bring electricity to communities, drive industrial growth, and create jobs if the systems are designed right.”

    Mr. Bastani sees a need for global data sharing between energy companies and climate scientists.

    “There is a huge untapped potential in the data collected by the private sector… integrating historical and real-time observations from power plants – solar, wind, hydropower, even nuclear – can significantly improve weather and climate models. This is a win-win.”

    IMF/Lisa Marie David

    Climate forecasting helps energy companies anticipate weather-driven changes in supply and demand, improving reliability and reducing risk.

    Diversifying the energy portfolio to adapt

    Another key action to guarantee clean energy in the near future is diversification. Relying too heavily on only one renewable source can expose countries to seasonal or long-term shifts in climate, Mr. Bastani explains.

    In Europe, for example, energy planners are increasingly concerned about something called “dunkelflaute”— a period of cloudy, windless weather in winter that undermines both solar power and wind generation. This phenomenon, linked to high-pressure systems known as anticyclonic gloom, has prompted calls for more energy storage and backup power.

    “A diversified mix that includes solar, wind, hydro, battery storage, and even low-carbon sources (like geothermal) is essential,” Mr. Bastani said. “Especially as extreme weather becomes more frequent.”

    Into the future

    As the world races towards a future powered by renewable energy, addressing the challenges posed by climate change is imperative. The volatility experienced in 2023 underscores the need for climate-smart planning and infrastructure that can withstand unpredictable shifts in weather patterns.

    For renewable energy to truly fulfill its promise, the world must invest not only in expanding capacity but also in building a system that is resilient, adaptable, and informed by the best available climate science.

    WMO experts Hamid Bastani and Roberta Boscolo emphasize the importance of integrating climate intelligence into energy systems to ensure their reliability and resilience. By leveraging advanced forecasting and artificial intelligence, we can better anticipate and adapt to these changes, optimizing renewable energy production and safeguarding our future.

    The future of energy is not just about more wind turbines and solar panels, but also about ensuring they can withstand the very forces they are meant to mitigate.

    MIL OSI United Nations News –

    March 26, 2025
  • MIL-OSI Australia: Automotive sector outlook: what’s driving recent trends

    Source: Allens Insights (legal sector)

    Regulation and scrutiny set to intensify 11 min read

    Whether it be consumer guarantees or vehicle emissions, the automotive sector continues to be highly regulated, and the target of scrutiny from regulators and private litigants alike. In this Insight, we reflect on some of the key issues facing the sector.

    Class action risk regaining momentum

    In recent years, the automotive sector has been a prominent target of class actions, with multiple claims filed each year. However, the rate of new claims noticeably stalled in mid-to-late 2023. Although there were eight claims in 2023, seven of these were filed by May. 

    In our 2024 Class Action Risk Report, we suggested that class action promoters may have been adopting a ‘wait and see’ approach, pending the High Court’s guidance in the Toyota and Ford proceedings on the availability of ‘reduction in value damages’ for breaches of the acceptable quality guarantee under section 272(1)(a) of the Australian Consumer Law (the ACL). This form of damages has been a mainstay in previous automotive class actions and a substantial driver of significant damages awards.

    The High Court provided that guidance late last year. As reported previously, it held that reduction in value (RIV) damages are a ‘performance based remedy’, reflecting the monetary difference between the value of what the consumer bargained for and what they ultimately received. The majority found that RIV damages are to be calculated as the amount by which the value of the goods was reduced by the failure to comply with the guarantee at the time of supply, with regard to ‘all that is known at the time of trial about the “state and condition of the goods”‘. Accordingly, the assessment includes consideration of both the nature of the defect, and the likely availability, timing, effectiveness, cost and inconvenience of any repairs.

    Automakers can find welcome relief in this decision because the High Court’s approach gives recognition to ‘field actions’ carried out by manufacturers in reducing their liability. However, depending on the seriousness of the defect and/or how long it takes to repair, manufacturers’ potential exposure to damages may still be considerable.

    It remains early days in assessing how class action promoters may respond to the High Court’s decision. Even so, there are initial signs that automotive class action filings may be regaining momentum, with two new claims filed in the past few months.

    Changes to dealership operating models

    Recent years have seen a number of Australian automakers consider, and implement, changes to their distribution models—away from a traditional dealer structure and towards an agency arrangement. Under this change, instead of dealers purchasing cars from automakers and onselling them to customers at a mark-up, they act as agents and sell cars on the automaker’s behalf (generally at an agreed price and in exchange for commission).

    While an agency approach gives automakers far more control over pricing and margins, the transition has been opposed by many franchisees, who fear a loss of profitability and goodwill in their business. Following Mercedes-Benz’s implementation of an agency model between 2016 to 2020, 38 of its 49 dealers commenced a class action alleging the loss of A$650 million in expropriated goodwill.

    We have now seen two distribution model changes litigated through the Australian courts—Mercedes-Benz (referred to above) and Honda Australia, which restructured its dealership network in 2020. While Mercedes-Benz emerged (relatively) unscathed, Honda had mixed success before different courts, and the two cases provide a helpful illustration of the current state of the law. Importantly, the decisions confirm that:

    • automakers are generally entitled to change their business models in the interest of improving profitability (even where it causes financial loss to their dealers); and
    • there is no current right under Australian franchising laws for a franchisee to be compensated for any loss of goodwill upon the non-renewal of a franchise agreement.

    With that said, in implementing any changes to distribution models, automakers should be very careful to honour existing contractual relationships and avoid misrepresentations or inaccurate statements. Compensation may be available where automakers eg :

    1. terminate dealership agreements early, and without a contractual right to do so;
    2. inform dealers they will be no worse off under a new model without a proper basis; or
    3. represent to customers that former authorised dealers can no longer service their vehicles, when this is inaccurate.

    The Mercedes-Benz and Honda cases concerned restructures that occurred before 2021, when the Franchising Code was amended to codify a compensation mechanism in circumstances where a motor vehicle franchisor terminates dealership agreements early. This regime will continue to apply under the new Franchising Code (see below). It will be interesting to see—in light of these decisions and the reforms to the Code—whether other automakers decide to follow in Mercedes-Benz and Honda’s footsteps.

    New Franchising Code on the way

    The Federal Government has now legislated a new Franchising Code of Conduct, which will take effect on 1 April 2025 and replace the current version of the Code, which is due to ‘sunset’.

    For motor vehicle franchisors, the changes in the Code will start applying on the following dates:

    • Almost all changes apply only to conduct that occurs on or after 1 April 2025, in relation to franchise agreements entered into, transferred, renewed or extended from this date.
    • Disclosure requirements in relation to significant capital expenditures will change, but the new requirements apply only to disclosure documents created on or after 1 November 2025. In all other respects, disclosure documents provided to franchisees in relation to franchise agreements to be entered into on or after 1 April 2025 (including disclosure documents provided before 1 April 2025 but relating to franchise agreements to be entered into after 1 April 2025) must comply with the form required by the new Code.

    Automakers will need to make some changes to the standard form of their dealership agreements, and a new form of disclosure document is required to be created.

    The new Code contains very few surprises for industry players who have been following its progress, as it largely aligns with the recommendations of the Independent Review released in February 2024 and the Exposure Draft released in October 2024.

    For automakers, it is important to note that the new Code has retained, without substantive changes, the provisions relating to compensation where a franchisor terminates dealership agreements early (with the changes proposed in the earlier Exposure Draft not implemented). The new Code also retains the obligation on motor vehicle franchisors to ensure that dealership agreements give franchisees a reasonable opportunity to make a return on their investment.

    The following reforms in the new Code are relevant to automakers who distribute through dealership or agency networks in Australia:

    1. Inclusion of service and parts agreements: The new Code includes a revised definition of ‘motor vehicle dealership’, which expressly captures ‘any servicing or repairing of motor vehicles’ conducted by dealers, or associated with a dealership agreement, where the dealer buys, sells, exchanges or leases motor vehicles.

      This change aligns the statutory definition with judicial interpretation of the Code in the AHG v Mercedes-Benz case.1 It is broadly designed to prevent franchisors from structuring contracts with dealers so as to exclude service and repair work from the Code’s application, while ensuring that pure service and repair franchise businesses are not subject to obligations specific to ‘motor vehicle dealerships’.

    1. Simplification of termination rights for franchisors: In relation to a limited set of serious termination events—eg the franchisee ceasing to hold a licence it needs to carry on the business, being deregistered as a company, or being convicted of a serious offence—the franchisor will be entitled to include in its franchise agreements a right to terminate on seven days’ notice, and the franchisee will not be permitted to raise a dispute under the alternative dispute resolution mechanism for such termination.
    2. Disclosure obligations: The new Code no longer requires franchisors to provide a key facts sheet to franchisees, separate from the disclosure document. Existing franchisees will be entitled to opt out of receiving disclosure documents, and also the 14-day cooling-off period, at the time of renewal or extension of the franchise agreement.
    3. Civil penalties apply to all substantive obligations: Whereas in the existing Code, only a limited number of substantive obligations will attract a civil penalty if breached, under the new Code, all substantive obligations will attract civil penalties if breached.

    Outside of the new Code, the Government has legislated to empower the ACCC to issue infringement notices with penalties at the upper end of what is currently available under the ACL (ie $19,800 for a body corporate).

    The New Vehicle Efficiency Standard begins to bite

    With the New Vehicle Efficiency Standard Act 2024 (Cth) (the NVES Act) taking effect at the start of this year, and the accumulation of the associated units and penalties commencing on 1 July 2025, the new standard is now kicking into gear.

    The NVES Act forms a central part of the Government’s National Electric Vehicle Strategy, which aims to promote Australia’s transition to a decarbonised transport system by providing a national framework to enhance the supply of, and access to, electric vehicles. Under the NVES Act, suppliers are incentivised to uptake more fuel-efficient, low or zero emission vehicles (including electric vehicles) through the following mechanisms:

    1. Suppliers of new light vehicles into the Australian market are required to keep CO2 emissions below annual emissions targets calculated based on the emissions and weight of vehicles sold. Stricter emissions targets are imposed for ‘Type 1’ vehicles (eg sedans and hatchbacks) than ‘Type 2’ vehicles (eg vans and utilities, and larger SUVs). The emissions targets of both vehicle types are expected to become more stringent over time.
    2. Central to the statutory regime is the concept of ‘Interim Emission Value’ (IEV), which measures the emissions performance of each supplier’s covered vehicles for a given year against the annual emissions targets set for the relevant vehicle type.
    3. Suppliers whose average fleetwide emissions fall below legislative targets (and therefore generate a negative IEV) will accrue tradeable ‘units’ or credits that can be sold to or purchased by other suppliers, and will be valid for up to three years.
    4. By contrast, suppliers that exceed their emissions targets (and therefore generate a positive IEV) may be liable for civil penalties, although liability will not crystallise immediately. Suppliers will have two years to bring their IEV down to zero, and can do so either by generating sufficient units themselves to meet any shortfall (ie by importing more fuel-efficient vehicles) and/or by purchasing units from other suppliers.

      If the supplier’s IEV has not been fully offset at the end of this period, the supplier will be liable for a civil penalty calculated at the scale of $100 for every gram of CO2 per kilometre of the supplier’s IEV that has not been offset. As the penalty regime applies to each covered vehicle, there is potential for significant fleetwide penalties, presenting a substantial new regulatory risk for automakers importing new vehicles into Australia.

    NGOs play a growing part in the enforcement of greenwashing claims

    We continue to see non-government organisations (NGOs) playing an increasingly prominent role in highlighting alleged instances of greenwashing by automakers, often with the dual aims of raising public awareness and agitating for regulatory enforcement action.

    Recent examples of this phenomenon are widespread. In 2023, the Environmental Defenders Office (EDO), an Australian environmental legal centre, published a report assessing climate-related claims made by the largest automotive companies in Australia. Most significantly, the report alleged that almost all automakers had made exaggerated climate-related claims, particularly by misleadingly comparing hybrid vehicles to ‘lower emitting electric vehicles’.

    To similar effect, United States-based advocacy group Ekō published a report in 2024 reviewing one automaker’s online marketing of its electrified vehicle line. The report surveyed 23 jurisdictions, including Australia, and alleged (among other things) that the automaker had misled consumers by using words such as ‘electrification’ on its website to describe hybrid, plug-in hybrid and hydrogen fuel cell vehicles. The automaker was said to have capitalised on growing electric vehicle demand to sell more of its hybrid (and allegedly polluting) vehicles.

    Ekō urged regulators worldwide, including the ACCC, to investigate its findings and those contained in EDO’s 2023 report, highlighting the growing relationship between NGOs and regulators in the enforcement of greenwashing claims.

    Data, privacy and cyber risk

    In May 2024, it was reported the Office of the Australian Information Commissioner had commenced an inquiry aimed at ensuring that connected vehicles purchased in Australia protected sensitive personal data.

    While details of the inquiry have not been released, the Privacy Commissioner, Carly Kind, has stated that ‘cars are now [a] kind of computers on wheels’ that collect a lot of personal information and there is ‘not a lot of transparency or understanding about how that data is being used’.

    Whether this inquiry becomes public remains to be seen, but it contributes to growing public and media attention on the auto industry regarding privacy and data security issues, following several recent high-profile data breach incidents—as well as various studies released over the past several years that have been highly critical of the privacy compliance of connected vehicles. Privacy advocates have also raised concerns around intrusive surveillance made possible through connected services.

    These trends in the auto sector reflect the broader scrutiny being placed on privacy and large-scale data use, in the context of a number of pieces of law reform in late 2024, such as:

    • material changes to the Privacy Act 1988 (Cth), including expanding enforcement options— further tranches of reform to the Privacy Act are expected this year; and
    • whole-of-economy changes to cyber security laws, with the passage of the Cyber Security Act 2024 (Cth). While vehicles have been largely excluded from the new cyber standards for connected products under this Act, it will have broader ramifications, and cyber standards for manufacturers remain a key area of risk.

    We anticipate that car manufacturers and auto financiers will come under increasing privacy and cyber scrutiny, given the volume and potential sensitivity of data collected at scale through connected vehicles. We will be providing an in-depth look into these issues in a future Insight.

    Consumer law reforms

    There is momentum building for consumer law reforms that, if introduced, could significantly affect the automotive sector. Among other things, the Government signalled its commitment late last year to a suite of reforms including to the consumer guarantees in the ACL, and the introduction of a prohibition on unfair trading practices.

    The proposals to strengthen the consumer guarantees were set out in a Consultation Paper released in October 2024 for feedback. The paper cited evidence that for high-value goods, and vehicles in particular, consumers find it difficult to obtain a remedy for breaches of the consumer guarantees. The proposed reforms include:

    1. clarifications to the meaning of a ‘major failure’ under the ACL;
    2. introduction of a new prohibition on suppliers refusing to provide remedies to consumers for a major failure;
    3. introduction of a prohibition on manufacturers failing to indemnify suppliers; and
    4. civil penalties for contraventions of the above.

    Treasury is expected to publish a Decision Regulation Impact Statement that will set out the Government’s preferred options in relation to these proposals.

    Separately, the Government has outlined proposals for a new prohibition on unfair trading practices. This prohibition would target conduct that might not meet the ACL thresholds for misleading or unconscionable conduct, but nonetheless causes consumer detriment through the distortion or manipulation of consumer choices (eg online pressure tactics). A Consultation Paper from November 2024 set out proposed general and specific prohibitions in this regard, and a Decision Regulation Impact Statement is now also anticipated, furthering these proposals.

    MIL OSI News –

    March 26, 2025
  • MIL-OSI: Bitget Wallet Adds Native Support for MegaETH Testnet, Unlocking High-Speed Layer 2 Ecosystem

    Source: GlobeNewswire (MIL-OSI)

    SAN SALVADOR, El Salvador, March 26, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, a leading Web3 non-custodial wallet, has announced native integration of the MegaETH testnet, an advanced EVM-compatible Layer 2 network. This move enables users to explore MegaETH’s growing ecosystem directly within Bitget Wallet, ahead of upcoming incentive campaigns from both teams.

    With this integration, users can now add the MegaETH testnet from the wallet’s network list and access a dedicated DApp zone featuring MegaETH-based applications. Within this zone, users can claim test tokens, interact with smart contracts, and provide liquidity—offering a comprehensive onchain testing experience. The native support simplifies onboarding to MegaETH and aligns with Bitget Wallet’s broader strategy to support emerging Layer 2 infrastructures through a seamless, multichain user experience.

    MegaETH is a next-generation Layer 2 solution built on Ethereum, designed to enhance scalability and transaction speed. By reducing gas fees and increasing throughput, MegaETH aims to support high-frequency decentralized applications (DApps) across sectors like DeFi, GameFi, and SocialFi. The collaboration with Bitget Wallet is expected to drive early user adoption, stimulate developer engagement, and foster the growth of MegaETH’s ecosystem.

    Looking ahead, Bitget Wallet remains committed to supporting more promising Layer 2 solutions and providing users with secure, multi-chain access to innovative blockchain technologies. “Integrating MegaETH allows our users to experience the future of high-performance Layer 2 solutions effortlessly,” said Alvin Kan, COO of Bitget Wallet. “This collaboration aligns with our mission to empower users with seamless access to the evolving Web3 landscape.“

    About Bitget Wallet
    Bitget Wallet is the home of Web3, uniting endless possibilities in one non-custodial wallet. With over 60 million users, it offers comprehensive onchain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser and crypto payment solutions. Supporting over 130 blockchains, 20,000+ DApps, and millions of tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges, along with a $300+ million protection fund to ensure safety of users’ assets. Experience Bitget Wallet Lite to start a Web3 journey.

    For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook

    For media inquiries, please contact media.web3@bitget.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/026264fe-1370-4e8d-849c-3b4fe3de9336

    The MIL Network –

    March 26, 2025
  • MIL-OSI: Capital, Strategy, and Governance: Market Implications of a DFC-Managed Sovereign Wealth Fund

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 25, 2025 (GLOBE NEWSWIRE) — Global Policy Advisors LLC, recognized for devising the first governance and policy roadmap for a U.S. sovereign wealth fund, has released a new report titled Capital, Strategy, and Governance: Market Implications of a DFC-Managed Sovereign Wealth Fund. The analysis explores the Development Finance Corporation (DFC) as a potential institutional home for a prospective U.S. sovereign wealth vehicle.

    The report outlines how a DFC-based sovereign wealth fund could be structured to balance fiduciary objectives with national strategic priorities, while drawing on DFC’s existing investment infrastructure, global networks, and interagency governance model. With ex officio board members including the Secretaries of State, Treasury, and Commerce, the DFC offers a unique governance environment where investment strategy can be evaluated from diverse national interest perspectives, the report says.

    GPA’s president Salar Ghahramani, who has advised clients across finance, policy, and law on sovereign wealth fund developments, stated: “Institutional design will shape the direction, legitimacy, and market impact of any future U.S. sovereign wealth fund. This report underscores the practical and strategic advantages of anchoring the fund within the DFC.”

    GPA’s latest SWF 2050™ report further examines how such a fund could engage with private equity and external asset managers while preserving transparency and avoiding conflicts of interest. The report offers detailed considerations on portfolio allocation strategies, public-private investment models, and the legislative implications of housing the fund within a federal agency.

    As highlighted in recent interviews with Barron’s and Bloomberg, Salar Ghahramani emphasized the importance of transparent governance and multi-perspective oversight in building long-term trust among both market participants and the American public.

    To learn more, contact Global Policy Advisors at:
    Email: inquiries@globalpolicyadvisors.com
    Website: https://www.globalpolicyadvisors.com/

    About Global Policy Advisors

    Global Policy Advisors® LLC is a boutique sovereign wealth fund advisory to corporations, boards of directors, and institutional investors—including hedge funds, private equity firms, pension funds, and SWFs. GPA’s ​expertise is delivering actionable insights, strategy sessions, and executive briefings on the governance, operations, and investment strategies of sovereign wealth funds.

    The MIL Network –

    March 26, 2025
  • MIL-OSI New Zealand: Employment – IPL fuel testers to strike over “unfair” omission from bonus scheme following failed mediation

    Source: Workers First Union

    Workers First Union members who work for Independent Petroleum Laboratory Limited (IPL) are set to strike for six days at the end of the month following an unsuccessful mediation session with the company over the omission of union members from a lucrative bonus scheme.
    Laboratory technicians who test fuels, biofuels and other industrial products for supply to airports and others in New Zealand are excluded from a bonus pay scheme that the company will only provide to non-union members, which illegally disadvantages Workers First members, according to Justin Wallace, Workers First Organiser.
    “This kind of situation is unfortunately common in the oil and gas industry,” said Mr Wallace. “Union members have had enough of the unfair disadvantage and voted to strike after many attempts to negotiate in good faith with the company.”
    Mr Wallace said the strike action could have significant implications, particularly for fuel and jet fuel supplies in New Zealand given IPL’s role as a key testing facility in the supply chain to major petrol stations and airports. Delays in laboratory testing at IPL and on-site at airports could slow the certification and release of these fuels, potentially leading to shortages or logistical challenges.
    The strike action is set to take place from March 31st and will last for six days between 12:01AM – 11:59PM on 31 March and 2-6 April. Channel Infrastructure, the owner of IPL, manages a critical 170-kilometre pipeline delivering diesel, petrol, and jet fuel to the Auckland and Northland markets, which constitutes 40% of New Zealand’s fuel demand.
    “Non-union colleagues are supporting our fight for fairness in the workplace – there’s no reason that workers should be presented with a false dichotomy between participating in a pay incentive scheme or negotiating pay increases collectively through regular bargaining,” said Mr Wallace.
    “These are highly experienced senior laboratory staff who are sick of being disadvantaged in the workplace and having their legitimate concerns dismissed by IPL.”
    “Only a very small number of workers are qualified to perform these testing duties, and industrial action is their last resort after exhausting all other options.”

    MIL OSI New Zealand News –

    March 26, 2025
  • MIL-OSI New Zealand: Employment – IPL fuel testers to strike over “unfair” omission from bonus scheme following failed mediation

    Source: Workers First Union

    Workers First Union members who work for Independent Petroleum Laboratory Limited (IPL) are set to strike for six days at the end of the month following an unsuccessful mediation session with the company over the omission of union members from a lucrative bonus scheme.
    Laboratory technicians who test fuels, biofuels and other industrial products for supply to airports and others in New Zealand are excluded from a bonus pay scheme that the company will only provide to non-union members, which illegally disadvantages Workers First members, according to Justin Wallace, Workers First Organiser.
    “This kind of situation is unfortunately common in the oil and gas industry,” said Mr Wallace. “Union members have had enough of the unfair disadvantage and voted to strike after many attempts to negotiate in good faith with the company.”
    Mr Wallace said the strike action could have significant implications, particularly for fuel and jet fuel supplies in New Zealand given IPL’s role as a key testing facility in the supply chain to major petrol stations and airports. Delays in laboratory testing at IPL and on-site at airports could slow the certification and release of these fuels, potentially leading to shortages or logistical challenges.
    The strike action is set to take place from March 31st and will last for six days between 12:01AM – 11:59PM on 31 March and 2-6 April. Channel Infrastructure, the owner of IPL, manages a critical 170-kilometre pipeline delivering diesel, petrol, and jet fuel to the Auckland and Northland markets, which constitutes 40% of New Zealand’s fuel demand.
    “Non-union colleagues are supporting our fight for fairness in the workplace – there’s no reason that workers should be presented with a false dichotomy between participating in a pay incentive scheme or negotiating pay increases collectively through regular bargaining,” said Mr Wallace.
    “These are highly experienced senior laboratory staff who are sick of being disadvantaged in the workplace and having their legitimate concerns dismissed by IPL.”
    “Only a very small number of workers are qualified to perform these testing duties, and industrial action is their last resort after exhausting all other options.”

    MIL OSI New Zealand News –

    March 26, 2025
  • MIL-OSI USA: Open Industrial Digital Ecosystem Summit

    Source: US Government research organizations

    Credit: NIST

    The Open Industrial Digital Ecosystem Summit is an annual event bringing together thought leaders, experts, practitioners, developers, and users of standards for data semantics. The event is co-hosted by the Systems Integration Division of the National Institute of Standards and Technology (NIST) and the Open Applications Group, Inc. (OAGi), leaders in the data semantics research and development. The objective of the event is to identify and discuss new requirements and advancements in methods, tools, and use cases related to data standards including data schema, ontology, and other related technologies important to save costs, increase productivity, and improve interoperability in enterprise integration projects. This year’s theme is standards and AI. The event features presentations and workshops from organizations such as Airbus, Lockheed Martin, ManTech, and biopharmaceutical companies.

    Visitor Access Requirement:

    • For Non-US Citizens:  Please have your valid passport for photo identification.*
    • For US Permanent Residents: Please have your green card for photo identification.*
    • For US Citizens: Please have your state-issued driver’s license. Regarding Real-ID requirements, all states are in compliance or have an extension through May 2025.*

      NIST also accepts other forms of federally issued identification in lieu of a state-issued driver’s license, such as a valid passport, passport card, DOD’s Common Access Card (CAC), Veterans ID, Federal Agency HSPD-12 IDs, and Military Dependents ID.

      *Use of apps, physical photocopies, and/or digital screenshots of your ID, Passport or Green card will not be accepted.  

    MIL OSI USA News –

    March 26, 2025
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