NewzIntel.com

    • Checkout Page
    • Contact Us
    • Default Redirect Page
    • Frontpage
    • Home-2
    • Home-3
    • Lost Password
    • Member Login
    • Member LogOut
    • Member TOS Page
    • My Account
    • NewzIntel Alert Control-Panel
    • NewzIntel Latest Reports
    • Post Views Counter
    • Privacy Policy
    • Public Individual Page
    • Register
    • Subscription Plan
    • Thank You Page

Category: Business

  • MIL-OSI: Hyperscale Data Announces 32 Consecutive Monthly Cash Dividend Payments Timely Paid for Series D Cumulative Redeemable Perpetual Preferred Stock

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, Feb. 12, 2025 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced that it has successfully paid 32 consecutive monthly cash dividends for its 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock (the “Series D Preferred Stock”). Dividends on the Series D Preferred Stock are cumulative and are payable out of amounts legally available therefor at a rate equal to 13.00% per annum per $25.00 of stated liquidation preference per share, or $0.2708333 per share of Series D Preferred Stock per month.

    Milton “Todd” Ault III, Founder and Executive Chairman of the Company, stated, “The Company continues to reaffirm its commitment to enhancing its overall credit profile and making timely dividend payments on the Series D Preferred Stock. I want to highlight to all stockholders that the current yield on the Series D Preferred Stock is 21.05% based upon a closing price of $15.44 on February 11, 2025. I am confident in the long-term nature of the Series D Preferred Stock and am very proud of the Company’s track record with respect to the Series D Preferred Stock.”

    Link to NYSE quote for the Company’s 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock: https://www.nyse.com/quote/XASE:GPUSpD

    For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors, and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

    About Hyperscale Data, Inc.

    Hyperscale Data is transitioning from a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact to becoming solely an owner and operator of data centers to support high performance computing services. Through its wholly and majority-owned subsidiaries and strategic investments, Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries. It also provides, through its wholly owned subsidiary, Ault Capital Group, Inc., mission-critical products that support a diverse range of industries, including an artificial intelligence software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, Hyperscale Data is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; Hyperscale Data, Inc.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

    Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.hyperscaledata.com.

    Hyperscale Data Investor Contact:
    IR@hyperscaledata.com or 1-888-753-2235

    The MIL Network –

    February 13, 2025
  • MIL-OSI: Bitget Wallet Integrates Mantra Mainnet, Enabling Access to RWA Tokenization

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Feb. 12, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, a leading Web3 non-custodial wallet, has announced full support for the Mantra Mainnet, a Layer 1 blockchain focused on the tokenization of real-world assets (RWA). With this integration, Bitget Wallet users can easily access Mantra’s network to transfer and receive $OM tokens, participate in cross-chain transactions, and explore staking opportunities through Mantra’s DApp.

    The Mantra Mainnet is designed to enable the onchain representation of real-world assets, bridging the gap between traditional finance and blockchain ecosystems. Through tokenization, Mantra aims to provide a scalable and flexible foundation for integrating RWAs within decentralized finance (DeFi). By offering a compliant-ready framework, it positions itself as a key player in unlocking RWA potential.

    Bitget Wallet’s integration with Mantra highlights its commitment to expanding user access to emerging on-chain asset ecosystems. Users can interact seamlessly with Mantra’s DApp, which offers $OM token staking, cross-chain functions, and official rewards programs. This integration aligns with the growing trend of bringing real-world asset exposure to the decentralized world.

    Looking ahead, Bitget Wallet plans to deepen its collaboration with Mantra through upcoming reward programs designed to encourage user participation in the evolving RWA ecosystem. “As real-world assets move on-chain, wallets become gateways to a new era of finance,” said Alvin Kan, COO of Bitget Wallet. “Our partnership with Mantra accelerates this shift by providing users with direct access to tokenized assets, reshaping how value is stored, transferred, and grown in the digital world.”

    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, an NFT marketplace and crypto payment. Supporting over 100 blockchains, 20,000+ DApps, and 500,000+ 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/2b1b3321-b108-40cb-94a7-2d49171cac93

    The MIL Network –

    February 13, 2025
  • MIL-OSI Economics: Singapore Airlines’ advertising campaigns focus on KrisWorld entertainment to elevate in-flight experience, reveals GlobalData

    Source: GlobalData

    Singapore Airlines’ advertising campaigns focus on KrisWorld entertainment to elevate in-flight experience, reveals GlobalData

    Posted in Business Fundamentals

    Singapore Airlines’ advertising campaigns between November 2024 and January 2025 effectively showcased its premium service offerings and entertainment capabilities, positioning the airline as an example of luxury travel and passenger experience. Through a series of targeted campaigns, the airline successfully highlighted its KrisWorld entertainment platform, exclusive partnerships, and commitment to exceptional service. This multifaceted campaigns were aimed at reinforcing Singapore Airlines’ commitment to deliver enhanced service and create memorable travel journeys, according to the Global Ads Platform of GlobalData, a leading data and analytics company

    Satya Prasad Nayak, Ads Analyst at GlobalData, comments: “Singapore Airlines has masterfully balanced the promotion of its entertainment offerings with its premium service excellence. By showcasing the extensive capabilities of KrisWorld alongside luxury partnerships like Charles Heidsieck champagne, Singapore Airlines demonstrates its commitment to elevating the entire travel experience. This strategic approach reinforces Singapore Airlines’ position as a premium carrier.”

    Below are the key focus areas of Singapore Airlines advertisements, revealed by GlobalData’s Global Ads Platform:

    Seamless digital entertainment experience: Singapore Airlines offers a “theatre in the sky” through KrisWorld Digital, featuring new releases, documentaries, TV shows, and live sports. Passengers can browse and plan their in-flight entertainment pre-flight via the KrisWorld platform. With integrated mobile apps and QR code accessibility, the airline blends digital innovation with personalized service for a seamless travel experience.

    Premium partnerships: Singapore Airlines’ collaboration with luxury brands, particularly through its partnership with Charles Heidsieck champagne, reinforces its premium positioning. The airline’s exclusive offerings in its first-class suites showcases its efforts to provide unique, high-end experiences. These partnerships extend to entertainment collaborations, including a special offer of Apple TV+ trials for passengers.

    Service excellence: The airline’s advertisements consistently emphasize the warmth and attentiveness of its cabin crew, particularly evident in campaigns featuring family travel experiences. This focus on personal service highlights Singapore Airlines’ commitment to creating memorable journeys for passengers of all ages, from children to elderly travellers, demonstrating the airline’s ability to cater to diverse passenger needs with equal care and attention.

    MIL OSI Economics –

    February 13, 2025
  • MIL-OSI Economics: Supply chain drives M&A deal activity to record 5% YoY value growth in 2024, reveals GlobalData

    Source: GlobalData

    Supply chain drives M&A deal activity to record 5% YoY value growth in 2024, reveals GlobalData

    Posted in Strategic Intelligence

    Helped by a steady fall in interest rates and modest economic growth, global mergers and acquisition (M&A) deal activity surged during 2024, with a 5% increase in total deal value year-over-year (YoY). Supply chain resilience was a key theme that drove this momentum, with $160 billion in supply chain-related transactions across 22 deals, covering sectors like healthcare and industrials, reveals GlobalData, a leading data and analytics company.

    GlobalData’s latest Strategic Intelligence report, “Global M&A Deals in 2024 – Top Themes by Sector – Strategic Intelligence,” reveals that in terms of deal volume, there was a 0.3% decrease from 2023 to record 31,952 deals in 2024.

    Priya Toppo, Analyst, Strategic Intelligence at GlobalData, comments: “Rising geopolitical tensions, shifting demographics, heightened ESG regulations, ongoing labor shortages, and accelerated digital transformation have further intensified the focus on supply chain-related M&A deals. Companies are increasingly prioritizing resilient, localized, and technology-driven supply chains to mitigate risks and enhance operational efficiency. This was especially true in the healthcare, industrials, energy, and real estate sectors.”

    The biggest supply chain deal was Novo Holdings’ acquisition of Catalent for $17 billion. This deal was also the biggest in the industrials sector in 2024. It was followed by China First Heavy Industries’ merger with China Shipbuilding for $16 billion and Johnson & Johnson’s acquisition of Shockwave Medical for $13 billion.

    Toppo continues: “An ongoing trend is the dominance of North America in M&A deal activity, accounting for 12,571 deals worth $1.3 trillion during 2024. However, China, South America, and the Middle East and Africa saw a YoY decline in deal value.”

    Toppo concludes: “The M&A outlook for 2025 is cautiously optimistic, as potential rate cuts in certain markets and an improving global economic environment could drive deal activity. However, mega-deals may continue to face challenges, particularly in the US, where antitrust scrutiny remains a key focus for regulators.”

    MIL OSI Economics –

    February 13, 2025
  • MIL-OSI Economics: AI, big data and cloud prominent technology themes in hiring in 2024, reveals GlobalData

    Source: GlobalData

    AI, big data and cloud prominent technology themes in hiring in 2024, reveals GlobalData

    Posted in Business Fundamentals

    • Active job index experiences a 1.4% YoY growth
    • India top country in terms of growth
    • Retail sector trends with high growth and postings

    The global job market dynamics in 2024 revealed a positive year-over-year (YoY) trend, despite companies continuing optimization efforts, with over 500 companies announcing layoffs. The retail sector experienced a rise in postings, driven by companies such as Amazon and Walgreens. The technology and communications sector, with major recruiters including Accenture, Reliance Jio, and Microsoft, also saw a rise in postings. Key technology themes driving hiring trends include artificial intelligence (AI), cloud, big data, cybersecurity, and batteries, reveals the Job Analytics Database of GlobalData, a leading data and analytics company.

    GlobalData’s latest report, Global Hiring Activity Trends & Signals – 2024, reveals that the new job postings for 2024 were driven by roles for AI/ML Engineers, Cloud Architects, and Generative AI Solution Architects.

    Sherla Sriprada, Business Fundamentals Analyst at GlobalData, comments: “The AI theme has experienced a notable 61% increase in job postings, driven by the need for AI/ML Engineers, Cloud Architects, and Generative AI Solution Architects in 2024. There is a growing demand for professionals skilled in ChatGPT and Copilot, reflecting a heightened focus on GenAI, AI Agents, and Agentic AI roles.”

    Countries such as China, Brazil, India, and Australia had a growth in job postings compared to the previous year. The US companies increased their hiring exposure to India while scaling back in China. The North American job onshoring declined in favor of postings in European and APAC nations.

    Meanwhile, Infrastructure-as-a-Service (IaaS) gained traction, driven by Cloud Infra Leads, Infra Security Engineers, and Data Center InfraOps Managers. Additionally, office productivity applications and enterprise resource planning applications were trending in 2024.

    Sriprada concludes: “2024 marks a pivotal year for the global job market, with tech themes driving much of the hiring activity. On the other hand, it is important to note that the shift towards onshoring in regions like India, coupled with reduced hiring in China, underscores the broader geopolitical and economic trends influencing talent acquisition strategies. This dynamic landscape presents both opportunities and challenges for organizations as they navigate the complexities of a rapidly evolving global workforce.”

    MIL OSI Economics –

    February 13, 2025
  • MIL-OSI Economics: Stryker’s US spinal implants business sale to benefit competitors in spinal fusion, says GlobalData

    Source: GlobalData

    Stryker’s US spinal implants business sale to benefit competitors in spinal fusion, says GlobalData

    Posted in Medical Devices

    Stryker has recently agreed to sell its US spinal implants business to the Viscogliosi Brothers and the newly formed company will be VB Spine. This move is expected to enable its major competitors to strengthen their position in the US spinal fusion market, which was worth an estimated $5.7 billion in 2024 and is expected to reach $6.7 billion in 2034 with a compound annual growth rate (CAGR) of 1.64%, according to GlobalData, a leading data and analytics company.

    Stryker occupies a relatively small portion of the US spinal fusion market, making up approximately 9.1%, and has experienced relatively slow growth since its entry into the market. Conversely, major players such as Medtronic and Globus Medical cover 37.5% and 23.9%, respectively.

    Aidan Robertson, Medical Analyst at GlobalData, comments: “The sale decision appears to be the logical next step when considering Stryker’s performance in this market, and in the long term, it may prove beneficial for the company as it continues to focus on interventional spine products.   While Stryker does not cover a large section of the market, its competitors are expected to use this opportunity to grow their influence towards what was previously Stryker’s section of the space, which could pose challenges for VB Spine going forward.”

    The spinal fusion market is expected to continue to grow due to increasing incidences of spinal disorders in combination with advancements in surgical navigation and imaging technologies, which allow for better surgical precision and better patient outcomes. Additionally, the potential patient pool for these types of procedures will likely increase because of the aging population. The limiting factor to the growth is the high cost of treatment; however, as advancements continue in this field, that may become less of a barrier.

    Robertson concludes: “As the spinal fusion market continues to expand, Stryker’s latest sale of the US spinal implants business poses a significant growth opportunity for the other major players, and we may see certain moves by those companies as they attempt to strengthen their positions in the future.”

    MIL OSI Economics –

    February 13, 2025
  • MIL-OSI Economics: Involmo: BaFin warns about website involmo.com

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website involmo.com. According to information available to BaFin, the operator Involmo is providing financial and investment services on this website without the required authorisation. The operator claims to be licensed in the United Kingdom. This is not the case.

    Anyone providing financial and investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.

    BaFin is issuing this information on the basis of section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics –

    February 13, 2025
  • MIL-OSI Europe: Romanian firms as likely as others in EU to tackle impacts of weather and reduce carbon emissions, EIB Investment Survey shows

    Source: European Investment Bank

    • Around three in 10 Romanian firms reported innovation activity, in line with EU average.
    • Romanian businesses are also on par with other EU-based companies in use of digital technologies.
    • Romanian firms perform better than counterparts elsewhere in EU in gender balance

    Most Romanian firms – 90% – have acted to reduce greenhouse gas emissions, in line with companies elsewhere in Europe, according to a European Investment Bank (EIB) Group survey. Companies in Romania have taken steps such as curbing waste, recycling, saving energy and embracing cleaner technologies, new country results from the EIB Group Investment Survey (EIBIS) show.

    Romanian firms are more likely than other EU-based businesses to have limited waste, recycled and invested in less-polluting technologies but less likely to have pursued energy efficiency, according to the national data.

    EIBIS is an annual report based on polling of approximately 13,000 firms in all EU Member States plus a sample from the United States. Its main results were released in October 2024, showing that EU businesses lead way in investments in climate mitigation and adaptation.

    The detailed country reports for individual member states were released today. Key takeaways for Romania include:

    • Investments stand at 27% above pre-pandemic levels.
    • The share of investing firms is 70%, below an EU average of 87%.
    • The share of innovative firms in Romanian is like the EU average, with three in ten reporting innovation activity.
    • Uncertainty about the future, energy costs and an insufficiency of skilled staff remain key concerns for businesses in Romania.

    “Romanian businesses are demonstrating resilience and optimism, even amid global economic uncertainties,” said EIB Vice-President Ioannis Tsakiris. “The EIB Group remains committed to supporting the country’s investment ambitions, ensuring that local businesses on the ground in Romania have access to the financing they need to thrive in a competitive global landscape.”

    The full country report about Romania is available here.

    Survey results feed into the annual Investment Report, the flagship publication of the EIB Group’s Economics Department, gauging the investment outlook for Europe’s economy. The next Investment Report will be released on 5 March 2025 during the annual EIB Group Forum in Luxembourg.

    The annual Forum brings together key stakeholders from the government, business and finance domains to exchange views on investment priorities that support Europe’s policies, including industrial decarbonisation, artificial intelligence, the Capital Markets Union, security, housing and EU enlargement. The theme of this year’s event is Investing in a more sustainable and secure Europe.

    Background information

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. 

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.   

    MIL OSI Europe News –

    February 13, 2025
  • MIL-OSI Europe: Slovenian businesses among EU’s climate-action leaders, EIB Investment survey shows

    Source: European Investment Bank

    • Almost all companies in Slovenia – 97% – have taken steps to cut emissions, according to annual survey commissioned by EIB.
    • Share of Slovenian businesses moving to reduce carbon footprint is second highest in EU.
    • Slovenian firms also have done more than most in EU in embracing digital technologies.

    Nearly all Slovenian companies – 97% – have taken steps to reduce greenhouse gas emissions, the second-highest share in Europe behind only Finland, according to a European Investment Bank (EIB) Group survey. In addition, four in five Slovenian businesses have embraced advanced digital technologies compared with a European Union average of 74%, new country results from the EIB Group Investment Survey (EIBIS) show.

    EIBIS is an annual report based on polling of approximately 13,000 firms in all EU Member States plus a sample from the United States. Its main results were released in October 2024, showing that EU businesses lead the way in investments in climate mitigation and adaptation.

    The detailed reports for individual EU countries were published today. Key takeaways for Slovenia include:

    • The share of Slovenian companies that have moved to reduce greenhouse gas emissions trails only Finland’s 99% in the EU, where the average is 91%.
    • Slovenian businesses are more likely than counterparts elsewhere in the EU to invest in less-polluting technologies and sustainable practices.
    • Slovenian firms are more likely than EU firms to have adopted automation via robotics, Internet of Things and big data/AI.
    • Green strategies by firms in Slovenia include saving energy, curbing waste and recycling.
    • Regarding investment barriers, Slovenian companies express concerns about political, regulatory and economic factors and an insufficiency of skilled staff is the most common obstacle cited.

    “Slovenian firms are leading the way in green and digital investments, showing strong commitment to sustainability and innovation,” said EIB Vice-President Kyriacos Kakouris. “However, challenges such as regulatory uncertainty and workforce availability must be addressed to unlock further growth. The EIB Group is committed to continue supporting Slovenian businesses to overcome these challenges and boost their competitiveness.” 

    The full country report about Slovenia is available here.

    Survey results feed into the annual Investment Report, the flagship publication of the EIB Group’s Economics Department, gauging the investment outlook for Europe’s economy. The next Investment Report will be released on 5 March 2025 during the annual EIB Group Forum in Luxembourg.  

    The annual Forum brings together key stakeholders from the government, business and finance domains to exchange views on investment priorities that support Europe’s policies, including industrial decarbonisation, artificial intelligence, the Capital Markets Union, security, housing and EU enlargement. The theme of this year’s event is Investing in a more sustainable and secure Europe. 

    Background information

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.  

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.   

    MIL OSI Europe News –

    February 13, 2025
  • MIL-OSI Europe: EIB Investment Survey shows Belgium investments have returned above pre-COVID levels.

    Source: European Investment Bank

    • Investments in Belgium last year were 4% higher than pre-COVID levels.
    • Businesses in Belgium are ahead of overall European levels in terms of innovation and adoption of advanced digital technologies.
    • Share of Belgian firms prioritising development or introduction of new products and services is far above the bloc’s average.

    A very high percentage of Belgian firms (90%) reported having adopted digital technologies, the second highest percentage of all EU-countries and far above the bloc’s average, according to the European Investment Bank (EIB) Group Investment Survey country results released today. The survey results for Belgium also show that Belgian businesses are far ahead in using Internet of Things (IoT) in their firms. In this field Belgium is far ahead of other EU countries, with an adoption rate of around 65%.

    The EIB Group Investment Survey (EIBIS), is an annual report based on polling of approximately 13,000 firms across all EU member states, with an additional sample from the United States. Its main results were released in October, showing that EU businesses lead way in investments in climate mitigation and adaptation.

    The detailed country reports for individual member states are released today

     When it comes to Belgium, key takeaways include:

    • Together with the Netherlands, Belgium leads the way in terms of the share of businesses’ investments devoted to intangible assets like software, data and website activities.
    • Belgium shows a strong focus on investments in new products and services (39% vs. EU average of 25%).
    • Around six out of every ten Belgian businesses (58%) invested in energy efficiency improvements.

    “European companies are making significant progress in tackling climate change and embracing digital transformation across the board,” remarked EIB Chief Economist Debora Revoltella. “However, enhancing EU investment necessitates a more cohesive and integrated single market.”

    The full country report about Belgium is available here.

    Survey results feed into the annual Investment Report, the flagship publication of the EIB Group’s Economics Department, gauging the investment outlook for Europe’s economy. The next Investment Report will be released on 5 March 2025 during the annual EIB Group Forum in Luxembourg.  

    The annual Forum brings together key stakeholders from the government, business and finance domains to exchange views on investment priorities that support Europe’s policies, including industrial decarbonization, artificial intelligence, the Capital Markets Union, security, housing and EU enlargement. The theme of this year’s event is Investing in a more sustainable and secure Europe. 

    Background information

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. 

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  

    In 2024, the EIB Group reached a funding volume of just over €2 billion in Belgium, focusing on energy, innovation, SMEs and climate.

    MIL OSI Europe News –

    February 13, 2025
  • MIL-OSI Europe: EIB Investment Survey 2024: Investment in Portugal remains strong, yet companies face regulatory and financial challenges above the EU average

    Source: European Investment Bank

    • Investment in Portugal continues to grow, standing 14% above pre-pandemic levels.
    • Compliance with new regulations and logistical challenges are the main barriers to business activity.
    • Financial constraints are increasing, with more Portuguese companies facing financing restrictions above the EU average.
    • Regulation and bureaucracy hinder investment, posing greater obstacles in Portugal than in the rest of Europe.

    Investment in Portugal is nearly 14% above pre-pandemic levels in real terms, continuing to grow despite some volatility in the first half of 2024. The percentage of companies planning to increase investment remains stable (20%) and above the EU average.

    The EIB Group Investment Survey (EIBIS), is an annual report based on polling of approximately 13,000 companies across all EU member states, with an additional sample from the United States. Its main results released in October, indicate, among other findings, that many businesses in EU remain optimistic about investment over the past three years.

    The detailed country reports are available today, with key takeaways for Portugal including:

    • Regulatory and logistical challenges weigh on Portuguese businesses – Compliance with new regulations, standards, and certifications, as well as logistical challenges, are the main obstacles to business activity. Compared to EU companies, Portuguese businesses express greater concern over access to raw materials and components.
    • Financial constraints are increasing and exceed the EU average – The percentage of Portuguese companies struggling to access financing has risen significantly and is now above the European average, due to loan rejections, difficulties in securing sufficient financing, and high credit costs.
    • Key barriers to investment – Portuguese companies identify the main obstacles to expansion as uncertainty about the future, lack of skilled labor, regulation, and energy costs. Bureaucracy and business regulations remain more significant challenges in Portugal than in the rest of the EU.

    “Portugal’s strong investment performance, despite financial and regulatory pressures, demonstrates the resilience of its businesses”, said EIB Chief Economist Debora Revoltella. “While compliance costs, bureaucracy, and financing difficulties remain key challenges, Portuguese companies continue to adapt and innovate. As the EU bank, the EIB will continue to support investments that enhance resilience, sustainability, and long-term growth.”

    The full country report about Portugal is available here.

    Survey results feed into the annual Investment Report, the flagship publication of the EIB Group’s Economics Department, gauging the investment outlook for Europe’s economy. The next Investment Report will be released on 5 March 2025 during the annual EIB Group Forum in Luxembourg. 

    The annual Forum brings together key stakeholders from the government, business and finance domains to exchange views on investment priorities that support Europe’s policies, including industrial decarbonisation, artificial intelligence, the Capital Markets Union, security, housing and EU enlargement. The theme of this year’s event is Investing in a more sustainable and secure Europe.

    Background information

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. 

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.   

    In 2024, the EIB Group reached a funding volume of €2.1 billion in Portugal, focusing on energy transition and support for SMEs and midcaps, the backbone of the Portuguese economy.

    MIL OSI Europe News –

    February 13, 2025
  • MIL-OSI Europe: Most Estonian businesses have taken steps to reduce emissions, EIB Investment Survey shows

    Source: European Investment Bank

    • Vast majority of Estonian firms has acted to reduce greenhouse gas emissions, aligning with efforts across the EU.
    • Estonian businesses are generally satisfied with their investment levels over the past three years.
    • Uncertainty about the future, insufficiency of skilled staff and energy costs are top three investment obstacles for companies in Estonia.

    Almost nine in 10 Estonian firms – 87% – have acted to reduce greenhouse gas emissions, in line with a 91% average in Europe, according to a European Investment Bank (EIB) Group survey. Estonian businesses are more likely than companies elsewhere in the European Union to promote cleaner technologies and business areas while being less likely to focus on energy efficiency, new country results from the EIB Group Investment Survey (EIBIS) show.

    EIBIS is an annual report based on polling of approximately 13,000 firms across all EU Member States plus a sample from the United States. Its main results were released in October 2024, showing that EU businesses lead way in investments in climate mitigation and adaptation.

    The detailed reports for individual EU countries were published today. Key takeaways for Estonia include:

    • Most Estonian firms –  73% – are satisfied with their investment levels over the past three years.
    • The business environment remains a concern for Estonia-based companies, with uncertainty about the future, an insufficiency of skilled staff and energy costs being the top three investment obstacles.
    • Compared with the EU average, Estonia has a higher share of companies with 40% or more women in senior management and a similar share where 50% or more of the company owners are women.
    • Almost three-quarters of Estonian firms – 74% – are integrated into global trade compared with an average in the EU of 63%.

    “Estonian firms are demonstrating a strong commitment to sustainability by taking actions to reduce greenhouse gas emissions,” said EIB Vice-President Thomas Östros. “Their investments in new, less-polluting technologies highlight Estonia’s proactive approach to addressing climate change and fostering green growth.”

    The full country report about Estonia is available here .

    Survey results feed into the annual Investment Report, the flagship publication of the EIB Group’s Economics Department, gauging the investment outlook for Europe’s economy. The next Investment Report will be released on 5 March 2025 during the annual EIB Group Forum in Luxembourg.  

    The annual Forum brings together key stakeholders from the government, business and finance domains to exchange views on investment priorities that support Europe’s policies, including industrial decarbonisation, artificial intelligence, the Capital Markets Union, security, housing and EU enlargement. The theme of this year’s event is Investing in a more sustainable and secure Europe. 

    Background information

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.  

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.    

    In 2024, Estonia received €498 million in financing from the EIB Group, fuelling business innovation and green growth.

    MIL OSI Europe News –

    February 13, 2025
  • MIL-OSI Russia: Tatyana Golikova: All-Russian Occupational Safety Week 2025 will be held from September 15 to 18 at Sirius

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Tatyana Golikova held a meeting of the organizing committee for the preparation and holding of the 10th All-Russian Occupational Safety and Health Week (VNOT-2025) in 2025. On the left is the Minister of Labor and Social Protection Anton Kotyakov

    February 12, 2025

    Tatyana Golikova held a meeting of the organizing committee for the preparation and holding of the 10th All-Russian Occupational Safety and Health Week (VNOT-2025) in 2025

    February 12, 2025

    Tatyana Golikova held a meeting of the organizing committee for the preparation and holding of the 10th All-Russian Occupational Safety and Health Week (VNOT-2025) in 2025

    February 12, 2025

    Previous news Next news

    Tatyana Golikova held a meeting of the organizing committee for the preparation and holding of the 10th All-Russian Occupational Safety and Health Week (VNOT-2025) in 2025. On the left is the Minister of Labor and Social Protection Anton Kotyakov

    The 10th All-Russian Occupational Safety Week will be held from September 15 to 18, 2025, in Sirius. This decision was made at a meeting of the organizing committee for the preparation and holding of the 10th All-Russian Occupational Safety Week (VNOT-2025) in 2025, which was chaired by Deputy Prime Minister Tatyana Golikova.

    The following took part in the work of the organizing committee: Advisor to the President of Russia Anton Kobyakov, Minister of Labor Anton Kotyakov, Head of the Federal Medical and Biological Agency Veronika Skvortsova, President of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin, as well as representatives of the Administration of the President of Russia, the Government of Russia, federal and regional ministries and departments, the Roscongress Foundation, Rostec, Rosatom, Gazprom, the FNPR and the Russian Union of Industrialists and Entrepreneurs.

    As noted by Deputy Prime Minister, Chairperson of the Organizing Committee for the All-Russian Week of Labor Protection Tatyana Golikova, the All-Russian Week of Labor Protection plays a vital role in drawing attention to modern challenges in the social and labor sphere and popularizing safety at work. Within the framework of the All-Russian Week of Labor Protection, specialists in the field of labor protection and industrial safety have the opportunity to exchange best practices in promising solutions, new technologies and developments aimed at preserving the life and health of workers. “In today’s conditions, when we feel a shortage of labor, we began to implement the national project “Personnel” from January 1, 2025, we are rebooting the education system so that it corresponds to the training of personnel that the economy needs, labor protection issues are becoming one of the most important. Therefore, holding the All-Russian Week of Labor Protection is more relevant than ever. In 2025, the anniversary 10th All-Russian Week of Labor Protection will be held from September 15 to 18 in the federal territory “Sirius”. At the same time, the scale of this event is expanding every year, and this year it is also planned to hold satellite events in St. Petersburg and Krasnoyarsk,” said Tatyana Golikova.

    Adviser to the President of Russia Anton Kobyakov noted in his speech that the agenda of the event is becoming more ambitious every year and raises issues not only of labor protection, but also of a broad range of social security issues for citizens. “Over the years of its existence, the All-Russian Labor Protection Week has evolved from a conference into the country’s main forum on social protection, labor protection, industrial safety and other issues of supporting working people. The agenda of the Week is becoming more ambitious every year, and its international component is growing from year to year. About 10 thousand participants are expected at the anniversary forum, and it is planned to increase the number of foreign guests, manufacturing, consulting companies and participants in the exhibition of personal protective equipment manufacturers. It is also proposed to supplement the VNOT program with international format events with friendly countries, including BRICS countries. In addition, in the year of the 80th anniversary of Victory in the Great Patriotic War, its special role will be reflected in the VNOT-2025 program and at the forum site,” Anton Kobyakov emphasized.

    The main strategic theme of the VNOT 2025 business program will be “Population conservation – a guarantee of sustainable development”.

    “In 2025, the All-Russian Occupational Safety Week celebrates its anniversary – 10 years since the first event. During this time, the forum has become an integral part of the personnel agenda, and has taken its rightful place among the key business events of the country. One of the most important goals of the national development of the Russian Federation for the period up to 2030 and for the future up to 2036 is to preserve the population, meet the needs of the labor market, as well as realize the potential of each person and develop their talents. Taking this into account, the theme of VNOT-2025 will be “Population conservation – a guarantee of sustainable development”. The program of the event is expanding annually, new interesting tracks appear. Within the framework of VNOT-2025, work will continue on the international track, including in terms of the labor protection network of the BRICS countries,” said Anton Kotyakov, head of the Ministry of Labor.

    Also, on the sidelines of the All-Russian National Exhibition of Labour and Employment, a meeting of the Advisory Council on Labour, Employment and Social Protection of the Population of the Member States of the Commonwealth of Independent States will traditionally be held.

    At the anniversary VNOT, the exhibition exposition will be expanded: stands will be added dedicated to industrial robotics and the development of innovations in the field of safe work in production. Particular attention will be paid to the rehabilitation and restoration of workers’ health, as well as the adaptation and employment of veterans of the SVO.

    With the support of Delovaya Rossiya and Opora Rossii, it is planned to create and launch a special track of the business program of the All-Russian Occupational Safety Week, aimed at small and medium-sized businesses.

    Traditionally, the VNOT-2025 will include a Youth Day with the participation of HR specialists from the largest enterprises, and the results of the professional excellence competition in the field of social services and labor protection competitions will be summed up. Satellite events of the VNOT-2025 will be held in April in St. Petersburg and in June in Krasnoyarsk.

    The organizer of the All-Russian Occupational Safety Week is the Ministry of Labor and Social Protection, the operator is the Roscongress Foundation. Last year, VNOT was held from September 10 to 13 in Sirius. Official website of VNOT: HTTP: // Rruusafetesk.kom.

    The key topic of the plenary session in 2024 is the formation of a culture of safe work. Traditionally, the VNOT platform hosted conferences, round tables, all-Russian industry seminars and meetings and international meetings, including a meeting of the BRICS Ministers of Labor and Employment. The business program, which consisted of more than 150 events, was attended by more than 8 thousand people from 89 regions of Russia and 27 countries, 200 foreign delegates and representatives of more than 1.7 thousand companies.

    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 –

    February 13, 2025
  • MIL-OSI United Nations: WRRC Webinar: Unlocking Financial Potential: Scalable Solutions for Resilient Recovery

    Source: UNISDR Disaster Risk Reduction

    Venue

    Online participation via Zoom

    This session aims to recognize the main barriers and potential solutions to that countries and international organizations face in terms of design and implementation of recovery finance strategies. Real cases will help showcase actionable solutions that can be applied by governments, the private sector and community organizations to achieve more inclusive and comprehensive financial coverage for recovery efforts.

    This webinar is jointly organized by the Asian Development Bank (ADB), the Development Bank of Latin America and the Caribbean (CAF), the United Nations Capital Development Fund (UNCDF), and the United Nations University – Institute for Environment and Human Security (UNU-EHS).

    Objectives

    The session will serve as a precursor to the technical session at the World Resilient Recovery Conference (WRRC), gathering feedback on key recovery finance topics and elements identified. It will explore the challenges countries face when tackling finance recovery readiness, identifying key barriers to effective recovery. It will share successful strategies and tools for financing recovery processes. Interested stakeholders will be engaged in the WRRC, fostering collaboration and broadening participation. Groundwork will be conducted for ensuring meaningful discussions at the WRRC, setting the foundation for impactful conversations moving forward.

    The webinar further aims to:

    1. Highlight the role of different finance recovery stakeholders.
    2. Highlight key challenges and lessons learned from past disasters.
    3. Formulate concrete challenges countries and international partners face in recovery financing.
    4. Set the stage for in-depth discussions at the WRRC technical session.

    How to register:

    Online (Zoom), 15 April, 2-3.30 pm CET:

     

    MIL OSI United Nations News –

    February 13, 2025
  • MIL-OSI Asia-Pac: LCQ16: Tobacco duty

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Shiu Ka-fai and a written reply by the Secretary for Health, Professor Lo Chung-mau, in the Legislative Council today (February 12):     Question:     It has been reported that smoking prevalence has been reduced slightly from 9.5 per cent to 9.1 per cent, following the Government’s measures to increase tobacco duty by 31.48 per cent and 31.92 per cent in 2023 and last year respectively. Some members of the community have pointed out that while an increase in tobacco duty by more than 30 per cent should have brought substantially more tax revenue since there has not been any significant decrease in the number of smokers, the revenue from tobacco duty dropped from $7.93 billion before the duty increase in 2022-2023 to $7.25 billion afterwards in 2023-2024, and the tax revenue reduced even more significantly last year after the Government drastically increased tobacco duty again. In this connection, will the Government inform this Council:     (1) of the monthly revenue from tobacco duty in the past three years (set out in the table below);(2) whether it has examined the reasons for reduction in the Government’s revenue from tobacco duty; whether it has assessed (i) the amount of revenue from tobacco duty reduced each year as a result of the increase in tobacco duty in 2023 and last year, and (ii) how much of such amount may be channelled to the market of illicit cigarettes; if it has assessed, of the details; if it has not assessed, the reasons for that;(3) of the number of illicit cigarettes seized, the market value of such illicit cigarettes and the number of persons arrested in each month of the past three years;(4) of the respective numbers of persons prosecuted by the Government for (i) trafficking and (ii) purchasing illicit cigarettes, as well as the penalties imposed on the convicted persons, in each of the past three years; and(5) whether it will consider restoring the tobacco duty rate to the level prior to the duty increase last year, with a view to bringing the revenue from tobacco duty back to the previous level, thereby increasing the Government’s revenue by billions of dollars and at the same time minimising the benefits brought to lawbreakers; if so, of the details; if not, the reasons for that?Reply:President,     Having consulted the Financial Services and the Treasury Bureau and the Customs and Excise Department (C&ED), the consolidated reply to the various parts of the Hon Shiu Ka-fai’s question is as follows.     Hong Kong is facing an ageing population and a continuous rising number of chronic disease patients. Numerous scientific studies have shown that smoking is the most important and preventable risk factor leading to chronic diseases and deaths. According to the estimation of the World Health Organization (WHO), the global economic loss caused by tobacco products amounts to US$1,800 billion annually, and a research of the University of Hong Kong in 2021 also revealed that the economic loss resulting from tobacco-induced health problems was estimated to be about HK$8.2 billion every year. It is therefore beyond doubt that smoking brings harm to the economy. On the contrary, that tobacco control harms the economy is disinformation created by the tobacco companies.     The results of the Thematic Household Survey (THS) on smoking pattern in 2023 conducted by the Census and Statistics Department showed that there are about 580 000 people in Hong Kong who are still daily smokers of conventional cigarettes, and nearly half of them are aged between 40 and 59. Smoking-induced diseases suffered by smokers who continue to smoke will pose a heavy burden on the healthcare system. In order to stop the tobacco hazards, the Government need to curb the use of tobacco and more importantly, prevent the public, especially the younger generation, from picking up smoking habit. Increasing tobacco duty is recognised internationally as the most effective means of reducing tobacco use. Through raising the costs of smoking, it provides a greater incentive for smokers to quit smoking, and dampens the eagerness of non-smokers, the youth in particular, to smoke.     Following an increase of tobacco duty by 60 cents in 2023-24, the Government has raised the tobacco duty by another 80 cents to $3.306 per stick in 2024-25. The measure can ensure that tobacco prices are maintained at a relatively high level which help prevent a rebound in smoking prevalence upon lifting of the mask-wearing requirements after resumption of normalcy after the epidemic, conveying a clear message to the society on the Government’s commitment and determination to safeguard public health through stringent tobacco control measures. The effectiveness of tobacco duty adjustment should be evaluated by whether it can effectively control and reduce the number of smokers, rather than the amount of additional revenue it brings to the Government.      Past experience in increasing tobacco duty indicated that increasing tobacco duty is conducive to reducing smoking prevalence. The greater the tax hike, the greater the drop in smoking prevalence. The number of calls to the Department of Health’s Integrated Smoking Cessation Hotline (Quitline) immediately after the increase in tobacco duty is also a sensitive indicator of smokers’ response (i.e. their intention to quit smoking) to the duty increase. In the first month after the duty increase was announced in the 2023-2024 and 2024-2025 Budget, the number of calls to the Quitline increased by about three times respectively when compared to the monthly number of calls received in the previous three months, reflecting the strong intention of smokers to quit smoking as a result of the duty increase. The number of calls received by the Department of Health’s Quitline increased from about 7 400 in 2022 to about 9 300 in 2024, representing an increase of more than 20 per cent.     The tobacco duty revenue, as well as smoking prevalence/smoking consumption and arrival passengers statistics from 2018 to 2024 are set out at Annex I. As 2020-22 was within the epidemic period, the pre-epidemic situation of 2018-19 is also presented for ease of comparison. The figures revealed that the number of duty-paid cigarettes and tobacco duty revenue in 2024 have decreased by about 39.4 per cent and 23.0 per cent respectively compared with 2023, and by 46.7 per cent and 18.5 per cent respectively when compared with 2019 (i.e. before the epidemic).      Tobacco duty revenue is collected from tobacco products as a dutiable commodity imported into Hong Kong, and therefore the amount of revenue generated is affected by many factors. Apart from the local sales volume of duty-paid tobacco products, it also depends on the commercial decisions of tobacco companies such as pricing strategies, timing of import and quantity, storage capacity of duty-paid tobacco products (there are no relevant figures as the commercial behaviour of tobacco companies is not transparent), as well as tobacco products purchased, by arrival passengers, outside Hong Kong or at duty-free shops at border control points and brought into Hong Kong (whether legally or illegally (Note)). Cross-boundary travel was greatly affected during the epidemic and the public were unable to bring back duty-free cigarettes through border control points. Tobacco duty was about 20 per cent higher than that before the epidemic, indicating that cross-boundary passenger travel has a great impact on tobacco duty. The number of passenger arrivals in 2024 was close to 150 million, which has fully restored to the pre-epidemic level, with the number of passenger arrivals at land boundary control points being close to 125 million exceeding the pre-epidemic level. It is estimated that the tobacco products brought into Hong Kong by inbound passengers will inevitably have a significant impact on tobacco duty revenue.     At the same time, the local sales volume of duty-paid tobacco products is also affected by the smoking population and their average consumption, whereas the increased cost of smoking will reduce the consumption of tobacco products. The WHO pinpoints that every 10 per cent increase in cigarette price will reduce the overall tobacco consumption by four per cent in high-income regions. In aggregate, tobacco duty was raised by 73.5 per cent in 2023 and 2024. Following the increase of tobacco duty in 2023, the THS conducted from May to August in the same year revealed that smoking prevalence dropped from 10.2 per cent in 2019 and 9.5 per cent in 2021 to 9.1 per cent in 2023. The number of smokers is estimated to have decreased by 60 600 or 9.5 per cent. The number of cigarettes consumed by smokers per day also dropped from 12.7 sticks in 2019 and 2021 to 12.1 sticks in 2023, which together represented a 13.8 per cent reduction in tobacco consumption. The Government has further increased tobacco duty in 2024 and the relevant THS will be conducted at a later time. It is expected that the drop in demand for tobacco products would be reflected in the survey results.       On the other hand, illicit cigarettes activities have always existed and the rebound in cross-boundary freight after resumption from the epidemic might also lead to increase in illicit cigarettes activities. That said, industry statistics from international market research companies revealed that the sales of illicit cigarettes in Hong Kong did not show an upward trend. As a matter of fact, both the WHO and the World Bank have pointed out that there is no direct correlation between the increase in tobacco duty and illegal tobacco trade activities. Combatting illicit cigarette trading activities and raising tobacco duty should be regarded as complementary measures. Taking into consideration the above factors, we are of the view that the drop in tobacco duty is attributable to a number of factors. The full effect of tobacco duty in reducing tobacco use is to be ascertained subject to the availability of latest data, and at this stage, we cannot rule out the possibility that some of the revenue from tobacco duty may be lost as a result of illicit cigarettes activities, but there is no evidence to suggest that illicit cigarettes activities are the main cause of the drop in tobacco duty.     In any case, as an important pillar under the tobacco control strategy, the Government will spare no efforts in combatting illicit cigarettes. The C&ED will continue to adopt a multi-pronged approach and take stringent enforcement actions at all levels to combat the sale of illicit cigarettes. The monthly tobacco duty revenue and the relevant enforcement figures against illicit cigarettes (including smuggling, storage and distribution as well as sale) in the past three years are set out at Annex II. The increase in the number of seizures of illicit cigarettes reflects the effectiveness of the C&ED’s stepped-up enforcement actions against illicit cigarettes and the success of its enforcement strategy does not denote an expanding scale of illicit cigarettes activities.     The Government announced the “10 measures for tobacco control” in June last year. Stepping up enforcement against illicit cigarettes was accorded the highest priority among the 10 measures, including – (i) introducing a duty stamp system to distinguish duty-paid cigarettes from non-duty-paid cigarettes;(ii) requiring tobacco products being sold at a price lower than the tobacco duty need to be proved duty-paid;(iii) increasing the maximum penalty for handling, possessing, selling or buying duty-not-paid cigarettes; and (iv) listing the relevant offences under the Organised and Serious Crimes Ordinance (Cap. 455), so as to enable the C&ED to apply for freezing and confiscating illicit proceeds and assets associated with illicit cigarette activities by virtue of the Ordinance.     On duty stamp system, taking into account factors such as enforcement effectiveness and cost-effectiveness, we propose to require the affixing of duty-paid labels on the retail packages of cigarettes at this stage. Through the application of anti-forgery features and related digital technologies, frontline officers of the C&ED would be able to distinguish duty-paid cigarettes from duty-not-paid ones in a more effective manner, thereby enhancing enforcement efficiency. The C&ED expects that a pilot scheme on the duty stamp system will be rolled out in the middle of this year to work out the practical operating requirement of the scheme, which will then be launched next year at the earliest.      The Government expects that the above measures will increase the deterrent effect and enhance the effectiveness of law enforcement departments in combating illicit cigarettes. The Government will continuously review the effect of tobacco control measures as a whole and the pace of future adjustments in tobacco duty. Our ultimate aim is to further lower the smoking prevalence so that the whole society and our healthcare system does not have to pay a heavy price for smoking-related diseases.Note: Under the Dutiable Commodities Ordinance (Cap. 109), a person aged 18 or above may bring into Hong Kong 19 cigarettes duty-free for his own personal use.

    MIL OSI Asia Pacific News –

    February 13, 2025
  • MIL-OSI Asia-Pac: Union Home Minister and Minister of Cooperation Shri Amit Shah chairs the first meeting of the Parliamentary Consultative Committee of the Ministry of Cooperation in New Delhi

    Source: Government of India

    Union Home Minister and Minister of Cooperation Shri Amit Shah chairs the first meeting of the Parliamentary Consultative Committee of the Ministry of Cooperation in New Delhi

    Prime Minister Shri Narendra Modi gave the mantra of ‘Sahkar Se Samriddhi’ by forming the Ministry of Cooperation in the interest of farmers and rural sector across the country

    Soon, PACS will also be able to sell Arline tickets

    The bill for the formation of “Tribhuvan” Sahkari University will be passed by the Parliament soon

    After the formation of the university, professionals’ coming to the cooperative sector will be able to get technical education, information and training related to accounting and administration

    Posted On: 12 FEB 2025 4:25PM by PIB Delhi

    Union Home Minister and Minister of Cooperation, Shri Amit Shah chaired the first meeting of the Parliamentary Consultative Committee of the Ministry of Cooperation on ‘Initiatives taken and currently being taken to strengthen cooperative societies’ in New Delhi. The meeting was attended by Union Ministers of State for Cooperation, Shri Krishan Pal and Shri Murlidhar Mohol, Members of the Committee, Secretary, Ministry of Cooperation and senior officers of the Ministry. The committee discussed various issues related to the initiatives taken by the Ministry of Cooperation since its establishment and the current efforts being made to empower cooperative societies.

    Addressing the meeting, Shri Amit Shah, the Union Home Minister and Minister of Cooperation, said that Prime Minister Shri Narendra Modi established a separate Ministry of Cooperation for the welfare of farmers and rural areas across the country and gave the mantra of “Sahkar Se Samriddhi”. He mentioned that the Modi government believes that both employment generation and prosperity of rural areas are possible through cooperation.

    Shri Amit Shah said that the cooperative movement was strong in the country for a few years after independence, but later it got weakened in most states. He mentioned that after the formation of the Ministry of Cooperation at the Centre, the first task was to create a database of Primary Agricultural Credit Societies (PACS) in collaboration with the states and initiate the process of registering two lakh PACS. He said that the work to develop the National Cooperative Database is almost complete, and now, information about cooperative societies across the country, categorized by region, is available at one click. Shri Shah said that steps have been taken for the computerization of PACS. He added that in the coming times, there will not be a single panchayat in the country where PACS will not be available.

    Union Minister of Cooperation said that the model by-laws created to make PACS ‘viable’ have been adopted by almost all states in the country. He added that PACS have been linked to more than 20 activities and have now started providing services such as Common Service Centres, Jan Aushadhi Kendras, and other services.

    Shri Amit Shah said that the Ministry of Cooperation has introduced a bill for the establishment of “Tribhuvan” Sahkari University, it will be passed by the Parliament soon. The establishment of this university will provide technical education, accounting, administrative knowledge, and training to professionals entering the cooperative sector. Shri Shah added that this will ensure the availability of trained manpower in the cooperative sector.

    Union Minister of Cooperation said that national-level cooperative organizations such as National Cooperative Exports Limited (NCEL), National Cooperative Organics Limited (NCOL), and Bharatiya Beej Sahakari Samriti Limited (BBSSL) have been established, which will help promote exports, organic products, and advanced seeds in the cooperative sector. He added that these initiatives will lead to significant changes in the cooperative sector in the coming years.

    Shri Amit Shah said, that it is the endeavour of the government that the cooperative sector gets the same opportunities as the corporate sector. He said that the Ministry of Cooperation, in collaboration with the Ministry of Finance, Reserve Bank, and Income Tax Department, has taken steps to make one tax structure for the corporate and cooperative sectors. Minister of Cooperation expressed confidence that the enterprises associated with the country’s cooperative sector will progress in competition with the corporate world and will fulfill Prime Minister Shri Narendra Modi’s vision of “Sahkar Se Samriddhi”. 

    Union Home Minister and Minister of Cooperation informed the Consultative Committee that a roadmap has been made for the rapid development of national federations associated with cooperation, in collaboration with Krishak Bharati Cooperative Limited (KRIBHCO), Indian Farmers Fertilizer Cooperative Limited (IFFCO), National Dairy Development Board (NDDB) and other federations. He mentioned that currently, PACS are involved in booking railway tickets, and expressed confidence that due to the initiatives of the Ministry of Cooperation, PACS will soon be able to sell airline tickets as well.

    Referring to the cooperative model of Gujarat, Shri Amit Shah said that today, women working in the cooperative sector in Gujarat have earned an annual income of 7.5 lakh crore, which is an achievement in itself. He mentioned that among these women, there was a woman having formal education only upto fourth grade, yet she earned a profit of 1.16 crore, setting a significant example of women empowerment.

    Shri Amit Shah said that in view of the regional disparity in the development of cooperatives in the country, the government is taking special steps to bring uniform balanced development in all the states.

    In the meeting, the committee members provided their suggestions on issues related to empowering cooperative societies in the country and appreciated the important steps taken by the government to strengthen the cooperative movement in the country.

    ****

    RK/VV/PR/PS

    (Release ID: 2102294) Visitor Counter : 56

    Read this release in: Hindi

    MIL OSI Asia Pacific News –

    February 13, 2025
  • MIL-OSI Asia-Pac: LCQ20: Office of Former Chief Executives

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Michael Tien and a written reply by the Chief Secretary for Administration, Mr Chan Kwok-ki, in the Legislative Council today (February 12):
     
    Question:
     
         It has been reported that the Office of Former Chief Executives of the Hong Kong Special Administrative Region (the Office) located at Pacific Place in Admiralty will be relocated to the Immigration Tower in Wan Chai upon the expiry of lease. In this connection, will the Government inform this Council:
     
    (1) of the renovation costs involved in setting up the Office at Pacific Place in Admiralty; whether the relocation of the Office away from its present location will involve reinstatement costs; if so, of the estimated relevant expenditures;
     
    (2) of the estimated costs associated with the relocation of the Office and the estimated renovation costs of the new Office respectively;
     
    (3) as the Government announced in the 2017 Policy Address that it planned to reprovision the three government towers at the Wan Chai waterfront, including the Immigration Tower, so as to release the precious land in the Wan Chai district for convention, exhibition and commercial uses, and the Chief Executive indicated last month that the reprovisioning plan would be implemented as scheduled, whether the Government will, in the light of the prevailing economic environment, utilise the relevant sites for the more important use of promoting economic recovery; if so, of the progress and timetable of the relevant plan; and
     
    (4) whether it has assessed if the Office will need to be relocated again after it has been relocated to the Immigration Tower in Wan Chai in the light of the commencement of the reprovisioning plan mentioned in (3); if it has assessed and the result is in the affirmative, whether the Government will consider a longer-term option, so as to avoid wasting public money?
     
    Reply:
     
    President,
     
         The reply to the question raised by the Hon Michael Tien is as follows:
     
     (1), (2) and (4) As the Office of Former Chief Executives (FCEO) of the Hong Kong Special Administrative Region (HKSAR) at 28 Kennedy Road can only accommodate three former Chief Executives (former CEs) at most, and there was no suitable and available government premises at the time, a leasable office unit was thus identified at Pacific Place as office for the fourth former CE for a tenancy period of three years starting from May 2022. The renovation works was carried out by the Architectural Services Department at a cost of about $6.55 million, funded under Subhead 3101GX of Head 703 – Buildings.
     
         The tenancy of the office will expire in May this year. The Government had liaised with the landlord who agreed to take over the office in an as-is condition and no reinstatement works will be required. The Government plans to relocate the office to 23/F, Immigration Tower in Wan Chai for continuous operation. The renovation works is in progress and the estimated renovation cost is around $2.8 million.
     
         The Government will continue to provide support to all former CEs according to the recommendations set out in the Independent Commission on Remuneration Package and Post-office Arrangements for the Chief Executive of the HKSAR’s report, including appropriate office accommodation and administrative support, to facilitate their performance of promotional and protocol-related functions for Hong Kong.
     
    (3) The convention and exhibition (C&E) industry brings important contributions to Hong Kong’s economy by attracting high-spending overnight business visitors to Hong Kong, spurring economic activities and creating employment opportunities in sectors such as tourism, retail, catering, entertainment industries; while facilitating local small and medium enterprises to connect with international buyers and suppliers to develop new markets and explore business opportunities. In order to provide more C&E facilities to facilitate the long-term development of the Hong Kong C&E industry, the Government is taking forward the Wan Chai North Redevelopment project near the Hong Kong Convention and Exhibition Centre as planned. This project involves the redevelopment of the sites of the Wan Chai Government Offices Compound, Gloucester Road Garden and the Kong Wan Fire Station into C&E facilities, hotel and Grade A offices. Among others, with the funding approval of the Finance Committee of the Legislative Council, the Government has commenced the reprovisioning of Kong Wan Fire Station project to relocate the Kong Wan Fire Station to the site adjoining Fenwick Pier Street and Lung Hop Street.

    MIL OSI Asia Pacific News –

    February 13, 2025
  • MIL-OSI Asia-Pac: Conditional extension of timeline to small and medium pharmaceutical manufacturers for compliance with revised Schedule ‘M’ notification

    Source: Government of India

    Posted On: 12 FEB 2025 4:23PM by PIB Delhi

    The Ministry of Health & Family Welfare has conditionally extended the due date for implementation of revised Schedule M (Good Manufacturing Practices provision) in respect of small and medium manufacturers having turnover of Rs. 250 crores or less, up to 31st December, 2025.

    On 28th December, 2023, the Government of India had notified revised Schedule M requirements wherein “good manufacturing practices” was upgraded to “good manufacturing practices and requirements of plan and equipment for pharmaceutical products”. The category of manufacturers was divided into two; the first category was of large manufacturers having turnover more than 250 crores. A timeline of 6 months was given to such manufacturers for compliance. For small and medium manufacturers having turnover less than or equal to 250 crores, a timeline of 12 months was given for compliance. The revised Schedule M requirements have been implemented for large manufacturers w.e.f. 28th June, 2024.

    Small and medium manufacturers had represented for extension of timeline to enable improvement in infrastructure, training of personnel and arranging financial resources. The same has been considered and the small and medium manufacturers have been given a time of 3 months from 11th February, 2025 to submit their plan for upgradation in Form A to the Central License Approving Authority. For such manufacturers who submit these details, the timeline of implementation would be extended till 31st December, 2025.

    The revised Schedule M requirements are a positive step towards ensuring the quality and safety of pharmaceutical products being manufactured in India.  The new regulations would enable the pharma companies to not only strengthen their domestic position but also become more competitive globally.

    ****

    MV

    HFW/Extension of Revised Schedule M/12Feb2025/1

    (Release ID: 2102291) Visitor Counter : 72

    MIL OSI Asia Pacific News –

    February 13, 2025
  • MIL-OSI Asia-Pac: LCQ12: Tackling smoking problems

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Lillian Kwok and a written reply by the Secretary for Health, Professor Lo Chung-mau, in the Legislative Council today (February 12):Question:     It is learnt that recent years have seen a trend of vapers getting younger, and there are even primary pupils among them, which is worrying. In this connection, will the Government inform this Council:(1) of the number of cases reported by schools to the Government in each month of the past three years regarding students vaping or smoking at school;(2) of the numbers of enforcement actions and prosecutions initiated by the Government in each month of the past three years against the illegal sale of tobacco products by shop operators to persons under 18 years of age;(3) whether the Government will ramp up efforts in education and publicity about smoking bans, including educational efforts targeting such e-cigarette oils as “space oil” which contain illegal harmful substances; if so, of the details; if not, the reasons for that; and(4) whether the Government will allocate additional resources for smoking cessation counselling services to assist smokers in smoking cessation; if so, of the details; if not, the reasons for that?Reply:President,     Having consulted the Security Bureau (SB) and the Education Bureau (EDB), the consolidated reply to the various parts of the Hon Lillian Kwok’s question is as follows:     The Government has been adopting a multi-pronged and progressive approach, including legislation, taxation, publicity, education, enforcement and promotion of smoking cessation services, in a bid to reduce the hazards caused by smoking products to the public and the society. Currently, the EDB does not require schools to report figures relating to the number of students who smoke e-cigarettes or cigarettes. The Census and Statistics Department conducts Thematic Household Surveys (THS) regularly to keep track of the local smoking situation. The THS results in 2023 showed that the percentage of daily conventional cigarette smokers among all persons aged 15 and above has dropped steadily from 11.1 per cent in 2010 to 9.1 per cent in 2023. The percentage of daily conventional cigarette smokers among teenagers aged 15 to 19 decreased continuously from 2.5 per cent in 2010 to 1.0 per cent in 2017. In the survey conducted in 2019, 2021 and 2023, the sample count for smokers aged 15 to 19 was too small to produce a representative prevalence estimate. Regarding e-cigarette use, in 2023, about 11 600 persons aged 15 and above reported daily use of e-cigarettes, accounting for 0.2 per cent of the population. The relevant sample count was also too small to produce a representative estimate of the proportion of such persons aged 15 to 19. The proportion of daily smokers from 2010 to 2023 is at Annex I. Separately, the Health Bureau (HHB) has commissioned the School of Public Health of the University of Hong Kong to conduct school-based surveys on smoking among students (school-based survey) since 2010, and the results of the last school-based survey conducted in 2023 showed that the smoking prevalence among primary and secondary school students (see Annex II) maintained at a low level.     However, over the years, tobacco companies have been using a myriad of tactics to lure young people to smoke so as to sustain their long-term profitability. Considering the harm brought about by tobacco products to the society, especially young people, there is a need for the Government to implement more effective and targeted tobacco control measures to combat smoking hazard and to prevent smoking prevalence from rebounding. Therefore, the Government announced in June last year the introduction of 10 tobacco control measures to safeguard the health of the community.     First, the findings of the THS showed that the younger the age group, the higher the rate of smoking flavoured cigarettes. For instance, among the conventional cigarette smokers aged from 20 to 29, over 70 per cent of them currently smoke flavoured cigarettes, while nearly 70 per cent smoked flavoured cigarettes when they first smoked. Besides, over 70 per cent of female smokers of conventional cigarettes currently smoke flavoured cigarettes; and over 60 per cent of current female smokers of conventional cigarettes smoked flavoured cigarettes when they first smoked (see Annex III). Scientific evidence shows that flavoured cigarettes, such as menthol or fruit-flavoured cigarettes, reduce the awareness of the hazard of tobacco and in turn increase the chances of non-smokers (especially teenagers) to start smoking. They also make consumers more vulnerable to getting into and continuing with the smoking habit. Flavoured cigarettes are indeed “sugar-coated poison”. Tobacco companies add flavours to conventional cigarettes to cover up the harshness of tobacco smoke, so as to lure members of the public, especially young people, to smoke and become addicted to smoking. The situation is worrying. The Government therefore proposes to prohibit adding flavours in conventional smoking products to counteract the intention of tobacco companies to use flavouring agents to disguise the toxicity of tobacco products and attract young people to smoke.     Secondly, alternative smoking products (ASPs) have rapidly gained popularity around the world in recent years. The Government resolutely banned the import, promotion, manufacture, sale or possession for commercial purposes of ASP on April 30, 2022, so as to reduce the chance for tobacco companies to use ASPs as another means to lure the public, especially the younger generation, to become addicted to smoking.     Recently, e-cigarette devices have even been used for drug abuse. E-liquid, mixed with drugs such as etomidate (commonly known as “space oil drugs”), a psychoactive substance, can be inserted into e-cigarette devices and heated to generate aerosol for smoking. By their appearance, “poisonous capsules” (or “zombie capsules”) containing “space oil drugs” or other regulated drugs or narcotics are no different from regular e-cigarettes capsules, and it is difficult to distinguish the ingredients by bare eye, thus largely increasing the possibilities of smokers to abuse drugs through ASPs anytime, anywhere and in a more covert manner. Young people may become addicted to drugs by smoking e-cigarettes containing “poisonous capsules” without realising it.     The Government will strengthen the control of etomidate, which is the main active ingredient of “space oil drugs”, and planned to gazette to list etomidate as a dangerous drug (i.e. narcotic) on February 14, 2025, so as to increase deterrence and enable law enforcement agencies to effectively respond to the relevant situation.     On publicity and education on the harmful effects of smoking and ASPs, the Department of Health (DH) and the Hong Kong Council on Smoking and Health (COSH) will strengthen their collaboration with the EDB to publicise the harmful effects of smoking and ASPs to students through seminars, dramas and mentorship programmes. The EDB has also been organising seminars and professional development programmes continuously for teachers to enhance their understanding and awareness of tobacco products, especially ASPs. On school curriculum, health education (including resistance to harmful substances) is a key component of values education. The Values Education Curriculum Framework (Pilot Version) issued in 2021 has further strengthened values education in related areas (including resistance to harmful substances including drugs, traditional tobacco products and ASPs) and outlined the expected learning outcomes for students across various key learning stages. The Whole School Health Programme launched by the DH will also step up publicity and education on tobacco hazards.     On the other hand, the Narcotics Division (ND) of the SB has been collaborating with various government departments, the COSH and non-governmental organisations to explain the harmful effects of “space oil drug” to the public through different channels, raise self-awareness on drug prevention among the public, and seek more ways to reach out to hidden drug abusers. To target drug traffickers selling “space oil drugs”, the Government is stepping up efforts to educate students on their harmful effects. The ND and the EDB will jointly launch an “anti-space oil drug” week in schools, during which a series of activities will be held, including talks, anti-drug video broadcast, anti-drug drama shows, with a view to preventing the spread of “space oil drugs” among the younger cohort and to tie in with the legislative work.      The relevant ban on ASPs has been in force for nearly three years. At present, there are no legal channels to import or purchase ASPs, and ASPs purchased for personal use before the ban came into effect should have been largely consumed after a certain period of time. Yet the findings of the aforementioned school-based survey indicated that the ratio of primary and secondary school students who smoke e-cigarettes to those who smoke conventional cigarettes is nearly one to one, suggesting that e-cigarettes, among other tobacco products, are particularly popular amongst the younger generation. It is worrying that young people are still exposed to ASPs despite the implementation of the ban on their import and sale. Prevailing legislation does not prohibit the possession of ASPs for non-commercial use. To suppress the continued circulation of ASPs, which are hazardous novel tobacco products, in Hong Kong and to tackle the problem of “poisonous capsules” at its root, the HHB will further strengthen the regulation of ASPs, including banning the possession of relevant products, so as to curb the emergence of ASPs as an alternative drug abuse product. Details will be announced later.     Thirdly, to prevent young people from smoking and suppress the harm posed by tobacco on them, the Smoking (Public Health) Ordinance (Cap. 371) stipulates that no person shall sell any conventional smoking product to any person under the age of 18. The number of complaints/referrals received, the number of inspections conducted and the number of summonses issued by the DH in relation to the restrictions on the sale or giving of conventional smoking products under the Smoking (Public Health) Ordinance (Cap. 371) from 2022 to 2024 are set out in Annex IV. For the comprehensive protection of the underaged, the Government proposes to further prohibit giving tobacco products to persons under the age of 18 such that the provider is to be held liable.     Fourthly, the Government has been actively conducting public education programmes on multiple fronts to promote a smoke-free environment. The DH collaborates with the COSH, non-governmental organisations and healthcare professionals to promote the harms of smoking and smoking cessation, including joining with district service organisations to disseminate smoke-free messages through promotional activities, smoking cessation competitions, smoking cessation counselling, targeting at young people, women, elderly groups, etc. Promoting smoking cessation is also an important pillar under the tobacco control strategy. Since 2021, the DH has launched the Quit in June campaign to promote smoking cessation services and one-week nicotine replacement therapy (NRT) trial packs have been distributed for free at more than 250 designated community pharmacies, smoking cessation clinics and District Health Centres (DHC)/DHC Expresses with a view to encouraging smokers to attempt quitting. Last year, the DH introduced a trial programme on the use of Chinese medicine ear-point patches for smoking cessation. So far, more than 3 500 NRT trial packs and more than 300 Chinese Medicine Ear-point Patch trial packs have been distributed, and most of the smokers who have tried the ear-point patches have found them helpful in alleviating the symptoms of addiction and the response has been very positive.     Besides, the DH has subvented two more service providers (increased from two to four) since last year to operate smoking cessation clinics focusing on counselling and pharmacotherapy, and is planning on subventing three more Chinese medicine smoking cessation service providers (increased from one to four) in the second half of this year to operate smoking cessation clinics focusing on counselling and acupuncture. It is expected that the number of service users can be increased by about 40 per cent and doubled respectively.     The Government will continue to step up the work on smoking cessation and explore various tobacco control measures in the medium and long term in order to eliminate the hazards posed by tobacco products on the society in all aspects and protect the health of the community under a progressive and multi-pronged approach.

    MIL OSI Asia Pacific News –

    February 13, 2025
  • MIL-OSI Asia-Pac: India – France Joint Statement on the visit of Shri Narendra Modi, Hon’ble Prime Minister of India to France

    Source: Government of India

    Posted On: 12 FEB 2025 3:22PM by PIB Delhi

    At the invitation of the President of the French Republic, H.E. Mr. Emmanuel Macron, the Prime Minister of India, Shri Narendra Modi, paid a visit to France on 10-12 February 2025. On 10 and 11 February 2025, France and India co-chaired the Artificial Intelligence Action Summit, gathering Heads of State and Government, leaders of international organizations, small and large enterprises, representatives of academia, non-governmental organizations, artists and members of civil society, in order to build on the important milestones reached during the Bletchley Park (November 2023) and Seoul (May 2024) summits. They underlined their commitment to take concrete actions to ensure that the global AI sector can drive beneficial social, economic and environmental outcomes in the public interest. Prime Minister Modi congratulated President Macron on France’s successful organization of AI Action Summit. France welcomed India’s hosting of the next AI Summit.

    This was Prime Minister Modi’s sixth visit to France, and follows President Macron’s visit to India in January 2024 as the Chief Guest for the 75th Republic Day of India. Prime Minister Modi and President Macron held bilateral discussions on the entire gamut of the exceptionally strong and multifaceted bilateral cooperation and on global and regional matters. Both leaders also went to Marseille where President Macron hosted a private dinner for Prime Minister Modi, reflecting the excellent relationship between the two leaders. They jointly inaugurated India’s Consulate General in Marseille. They also visited the International Thermonuclear Experimental Reactor facility.

    President Macron and Prime Minister Modi reaffirmed their shared vision for bilateral cooperation and international partnership, outlined in the Joint Statement issued following President Macron’s State Visit to India in January 2024 and in the Horizon 2047 Roadmap published during the visit of Prime Minister Modi to France in July 2023 as the Chief Guest of the Bastille Day Celebrations on the occasion of the 25th anniversary of the Strategic Partnership. They commended the progress achieved in their bilateral cooperation and committed to accelerating it further across its three pillars.

    The two leaders reiterated their call for reformed and effective multilateralism to sustain an equitable and peaceful international order, address pressing global challenges and prepare the world for emerging developments, including in the technological and economic domains. The two leaders stressed, in particular, the urgent need for the reform of the United Nations Security Council and agreed to coordinate closely in multilateral fora, including on UNSC matters. France reiterated its firm support for India’s permanent membership of the UNSC. The two leaders agreed to strengthen conversations on regulation of use of the veto in case of mass atrocities. They held extensive discussions on long-term global challenges and current international developments and agreed to intensify their global and regional engagement, including through multilateral initiatives and institutions.

    Acknowledging the paramount importance of advancing scientific knowledge, research and innovation, and recalling the long and enduring engagement between India and France in those areas, President Macron and Prime Minister Modi announced the grand inauguration of the India-France Year of Innovation in New Delhi in March 2026 by launching its Logo.

    Partnership for Security and Sovereignty

    Recalling the deep and longstanding defence cooperation between France and India as part of the Strategic Partnership, President Macron and Prime Minister Modi welcomed the continuation of the cooperation of air and maritime assets in line with the ambitious Defence Industrial Roadmap agreed in 2024. Both leaders commended progress in collaboration in construction of Scorpene submarines in India, including indigenization, and in particular the work carried out with a view to the integration of DRDO developed Air Independent Propulsion (AIP) into P75-Scorpene submarines and the analyses conducted regarding the possible integration of the Integrated Combat System (ICS) into the future P75-AS submarines. Both leaders welcomed the commissioning of the sixth and final submarine of the P75 Scorpene-class project, INS Vaghsheer, on 15 January 2025.Both sides welcomed the ongoing discussions in missiles, helicopter engines and jet engines. They also welcomed the excellent cooperation between the relevant entities in the Safran group and their Indian counterparts. Prime Minister Modi also invited the French Army to take a closer look at the Pinaka MBLR, emphasizing that an acquisition of this system by France would be another milestone in Indo-French defence ties. In addition, President Macron welcomed the decision to include India as an observer to the Eurodrone MALE programme managed by OCCAR, which is another step forward in the growing strength of our partnership in defence equipment programmes.

    Both leaders appreciated the regular conduct of military exercises in all domains including maritime exercises and joint patrolling by maritime patrol aircraft. They noted the recent visit of the French Carrier Strike Group Charles De Gaulle to India in January 2025, followed by the Indian Navy’s participation in the French multinational exercise La Perouse, and the future conduct of the Varuna exercise in March 2025.

    They welcomed the launch of FRIND-X (France-India Defence Startup Excellence) in Paris on 5-6 December 2024, involving the DGA and the Defence Innovation Agency, in line with the vision enshrined in HORIZON 2047 and the India-France Defence Industrial Roadmap. This collaborative platform brings together key stakeholders across both defence ecosystems, including defence startups, investors, incubators, accelerators, and academia, fostering a new era of defence innovation and partnership.

    In order to deepen the research and development partnerships in defence, both leaders stressed on the early launch of an R&D framework through a Technical Arrangement for cooperation in defence technologies between DGA and DRDO. Inaddition, both leaders welcomed the ongoing discussions between L’Office National d’Etudes et de Recherches Aérospatiales (ONERA) and Defence Research and Development Organisation (DRDO) to identify technologies for R&D partnerships. Further, India welcomes the participation of Indian students, alongside French students, in the challenge on distributed intelligencelaunched recently by Interdisciplinary Center for Defence and Security from the Institut Polytechnique de Parisand encourages organizing of more joint challenges in the future to evoke the interest of students in defence.

    Both leaders had a detailed conversation on international issues, including on the Middle-East and the war in Ukraine. They agreed to pursue their efforts to coordinate and remain closely engaged on a regular basis.

    The two leaders recalled the launch of the India-Middle East-Europe Corridor (IMEC) on the margins of the G20 Summit in Delhi in September 2023 and agreed to work together more closely on implementing the initiative. Both leaders stressed the importance of IMEC to foster connectivity, sustainable growth trajectories and access to clean energy across these regions. In this regard, they acknowledged the strategic location of Marseille in the Mediterranean Sea.

    They underlined the key importance of strengthening EU-India relations, in view of the upcoming India-EU summit at the earliest possible in New Delhi.

    They appreciated the growing cooperation in trilateral format with Australia and with the United Arab Emirates. They commended the joint military exercises that took place between France, India and the United Arab Emirates, as well as the participation of India, France and Australia in each others’ multilateral military exercises. At the invitation of the United Arab Emirates and India, France joined the Mangrove Alliance for Climate. They directed their concerned officials to work together with officials from the Governments of United Arab Emirates and Australia, towards identifying concrete projects of trilateral cooperation in the field of economy, innovation, health, renewable energy, education, culture, and the maritime domain, including under the IPOI and IORA as identified during the focal points meeting held virtually last year for both the trilateral dialogues.

    The two leaders underlined their common commitment to a free, open, inclusive, secure and peaceful Indo-Pacific region.

    They reiterated their desire to continue to deepen bilateral cooperation in the space sector. Taking note of the substantial contribution of the first two sessions of the India-France Strategic Space Dialogue to furthering this objective, they agreed to hold its third session in 2025. They commended the strength of the partnership between CNES and ISRO and supported the development of collaborations and synergies between their space industries.

    The two leaders reaffirmed their unequivocal condemnation of terrorism in all its forms and manifestations, including cross-border terrorism. They called for the disruption of terrorism financing networks and safe havens. They further agreed that no country should provide safe haven to those who finance, plan, support, or commit terrorist acts. The leaders also called for concerted action against all terrorists, including through designations of individuals affiliated with groups that are listed by the UN Security Council 1267 Sanctions Committee. The two sides emphasized the importance of upholding international standards on anti-money laundering and combating the financing of terrorism, consistent with Financial Action Task Force recommendations. Both countries reiterated their commitment to work together in FATF, No Money For Terror (NMFT) and other multilateral platforms.

    They commended the cooperation between the National Security Guard (NSG) of India and the Groupe d’Intervention de la Gendarmerie Nationale (GIGN) for agency-level cooperation in the field of counter-terrorism. The two leaders welcomed the outcomes of the counter-terrorism dialogue held in April 2024, reflecting the growing India – France counter-terrorism and intelligence cooperation. The two leaders also looked forward to the successful organization of Milipol 2025 in New Delhi.

    They welcomed the ongoing discussions to create a comprehensive framework for an enhanced bilateral cooperation in the civil aviation sector, which are at advanced stages.

    Prime Minister Modi and President Macron launched an India-France Roadmap on Artificial Intelligence (AI), rooted in the philosophical convergence in their approaches focusing on the development of safe, open, secure and trustworthy artificial intelligence. They welcomed the inclusion of Indian startups at the French Startup Incubator Station F. They also welcomed the expanded possibilities for using India’s real-time payment system – Unified Payments Interface (UPI) – in France. The two leaders reiterated the strategic significance of cyberspace and their wish to strengthen their coordination at the United Nations regarding the application of international law and the implementation of the framework for responsible State behaviour in cyberspace, as well as the need to address issues arising from the proliferation of malicious cyber tools and practices. They looked forward to the next India-France Strategic Cybersecurity and Cyberdiplomacy Dialogues to be held in 2025.

    Partnership for the Planet

    Prime Minister Modi and President Macron stressed that nuclear energy is an essential part of the energy mix for strengthening energy security and transitioning towards a low-carbon economy. Both leaders acknowledged the India-France civil nuclear ties and efforts in cooperation on the peaceful uses of nuclear energy, notably in relation with the Jaitapur Nuclear Power Plant Project. They welcomed the first meeting of the Special Task Force on Civil Nuclear Energy, and welcomed the signing of a letter of intent on Small Modular Reactor (SMR) and Advanced Modular Reactor (AMR) and the Implementing Agreement between India’s GCNEP, DAE and France’s INSTN, CEA for cooperation in training and education of nuclear professionals.

    The two leaders reaffirmed their countries’ commitment to jointly address the environmental crises and challenges including climate change and promoting sustainable lifestyles. The leaders welcomed the renewal of bilateral cooperation in the field of environment between the Ministries of Environment. Both leaders reiterated their commitment to the principles established by the Paris Pact for People and the Planet for reform of the international financing system towards supporting vulnerable countries in addressing both the eradication of poverty and the preservation of the planet. Both leaders affirmed the significance of United Nations Oceans Conference (UNOC-3) as an important milestone in international efforts towards conservation and sustainable use of oceans. In the context of upcoming UNOC-3 to be held in Nice in June 2025, France and India recognize the importance of the Agreement on the Conservation and Sustainable Use of Marine Biological Diversity Beyond Areas of Natural Jurisdiction (BBNJ Agreement), as one of the pillars of inclusive and holistic international ocean governance. Having already signed the treaty, they called for its entry into force at the earliest. Prime Minister Modi offered India’s support to France for UNOC-3 in June 2025.

    They lauded the launching of the India-France Indo-Pacific Triangular Development Cooperation, aiming to support climate- and SDG-focused projects from third countries in the Indo-Pacific region. The two leaders welcome the partnership between Proparco and the concerned Indian microfinance institutions for an equity agreement of 13 million Euros in the areas of financial inclusion and women empowerment. They also commended the strong and fruitful cooperation within the framework of the Franco Indian presidency of the Coalition for Disaster Resilient Infrastructure and the International Solar Alliance.

    Noting the record level of bilateral trade in 2024, they acknowledged that there is vast untapped potential for trade and investment between the two countries. Both leaders highlighted the need to maintain strong confidence for companies investing in France and in India. They commended the numerous economic cooperation projects announced in 2024 in the field of urban development. They recalled the participation of India as guest of honor of the 7th Choose France Summit in Versailles in May 2024. The two leaders were delighted with the organization of the bilateral CEOs Forum in November 2024 and February 2025.

    The two leaders expressed their satisfaction with the unprecedented momentum initiated for cooperation between the two Ministries of Health, with the first mission in Paris of India’s Ministry for Health and Family Welfare last January. Digital health, anti-microbial resistance and exchange of health professionals have been identified as the main priorities for bilateral cooperation in 2025. The two leaders welcomed the signature of a Letter of Intent between PariSante Campus and the C-CAMP (Centre for Molecular Platforms), and the creation of the Indo-French Life Sciences Sister Innovation Hub.

    Partnership for the People

    Recalling the ambition underpinning the Letter of Intent signed on the occasion of Prime Minister Modi’s visit to France in July 2023, President Macron and Prime Minister Modi welcomed the signature of the Agreement between the National Museum in Delhi and France Muséums Développement in December 2024. This agreement paves the way for further collaboration as well as broader museum cooperation including training of Indian professionals. France offered to continue consultations on its participation in the development of the National Maritime Heritage Complex.

    To celebrate the 60th Anniversary of the signing of the first cultural agreement between India and France in 1966, both sides agreed to undertake multiple cultural exchanges and programs in the context of the Year of Innovation 2026 which is a cross-sectoral initiative that includes culture.

    Prime Minister Modi congratulated President Macron on the successful organization of the Paris Olympics and Paralympics 2024 and thanked President Macron’s willingness to share France’s experience and expertise regarding the organization and securing of major international sporting events in the context of India’s bid to host the Olympics and Paralympics Games in 2036.

    Both Leaders welcomed the launch of a regional edition of the Raisina Dialogue focusing on Mediterranean issues in Marseille in 2025, to foster high-level dialogue involving representatives of governments, industry leaders, experts on trade and connectivity issues and other relevant stakeholders with an aim to enhance trade and connectivity between the Mediterranean and the Indo-Pacific regions.

    Both leaders welcomed the successful launch in September 2024 of the International Classes Scheme under which Indian students are taught French as a foreign language, and methodology and academic contents in highly reputed French universities in France during one academic year, before entering their chosen curricula in France. It will create conducive conditions to increase student mobility and meet the target of 30,000 Indian students in France by 2030. In that regard, they welcomed the rising number of Indian students in France, with 2025 figures expected to reach an unprecedented 10,000.

    Both leaders also welcomed the operationalization of the Young Professionals Scheme (YPS) under India-France Migration and Mobility Partnership Agreement (MMPA) which will facilitate two way mobility of youth and professionals, further strengthening the bonds of friendship between people of India and France. Moreover, both leaders stressed on early conclusion of the Memorandum of Understanding to foster cooperation in the fields of skill development, vocational education and training which will create opportunities for both countries to strengthen cooperation in this field.

    To foster their dynamic and comprehensive Strategic Partnership, both countries committed to constantly deepen their long-term cooperation following the ambitions expressed in the bilateral Horizon 2047 Roadmap.

    ***

    MJPS/SR/SKS

    (Release ID: 2102247) Visitor Counter : 146

    MIL OSI Asia Pacific News –

    February 13, 2025
  • MIL-OSI Asia-Pac: LCQ17: The supply and demand situations of private offices

    Source: Hong Kong Government special administrative region

    LCQ17: The supply and demand situations of private offices
    LCQ17: The supply and demand situations of private offices
    **********************************************************

         Following is a question by the Hon Edmund Wong and a written reply by the Secretary for Development, Ms Bernadette Linn, in the Legislative Council today (February 12): Question:      It has been reported that according to the estimation of a surveyor firm, the vacancy rate of Grade A private offices in Central has exceeded 13 per cent as at the end of December 2024, and the rents in the district are projected to further drop by 5 per cent in 2025. In this connection, will the Government inform this Council:(1) of the average per-square-foot selling prices and monthly rents, as well as the vacancy rates, for various grades of private offices in Hong Kong in the past three years, together with a quarterly breakdown of such figures; (2) whether it has projected the supply and demand situations of various grades of private offices in various districts in the next five years; and (3) of the specific strategies to achieve a balance between the supply and demand of private offices in various districts so as to mitigate the problem of worsening vacancy rates; whether it will introduce a flexible mechanism for zoning sites in new development areas (e.g. ‍the Northern Metropolis) for commercial uses; if so, of the details; if not, the reasons for that? Reply: President,      In consultation with the Financial Services and the Treasury Bureau, the reply to various parts of the question is as follows:      (1) The Rating and Valuation Department (RVD) obtains property transaction and rental information from a variety of sources for compiling and periodically publishing the average prices and average rents of private premises. For private offices, it has been the RVD’s established practice to conduct detailed analysis of the seven main private office districts. According to the Hong Kong Property Review 2024 published by the RVD last April, the total stock of private offices in Hong Kong at the end of 2023 amounted to around 13 100 000 square metres (sq m), comprising 66 per cent Grade A, 23 per cent Grade B and 11 per cent Grade C offices. Their quarterly average prices and average rents by grade in main sub-districts in the past three years (i.e. from 2022 to 2024) as published by the RVD are set out at Appendix 1 and Appendix 2 respectively.      In addition, the RVD also conducts year-end vacancy surveys on private premises every year to provide relevant data of their vacancy position in the Hong Kong Property Review. The year-end vacancy rates for private offices in Hong Kong by grade from 2021 to 2023 are tabulated below: 

    Year
    Grade A
    Grade B
    Grade C
    Overall

    2021
    12.5%
    13.1%
    9.3%
    12.3%

    2022
    15.1%
    15.1%
    8.8%
    14.4%

    2023
    16.0%
    14.9%
    9.0%
    14.9%

    Remarks: The vacancy rates for 2024 are still being collated, and will be released in the Hong Kong Property Review 2025 to be published later this year. (2) The Government does not estimate the demand for private offices in the short to medium term. As for supply of private offices, the RVD publishes in the Hong Kong Property Review each year the estimated completions of all grades of private offices in the coming two years. According to the Hong Kong Property Review 2024 published by the RVD last April, the estimated total completion of private offices in 2025 is around 136 000 sq m, constituting a slight fall as compared to 156 000 sq m in 2024. The estimated completions of private offices by grade in 2024 and 2025 are tabulated below: 

    Year
    Grade A(sq m)
    Grade B(sq m)
    Grade C(sq m)

    2024
    146 000
    9 300
    1 000

    2025
    126 400
    9 400
    300

    (3) The Government has been proactively taking various measures to promote the healthy development of the commercial property market, including:      (i) The Government will assess the situation pragmatically and roll out land in a prudent and paced manner. Taking into account the current economic environment, the office vacancy rates and the upcoming supply expected, the Government has not put up any commercial site for sale since the financial year 2023-24, the last piece of commercial site sold in recent years being the site at Sai Yee Street in Mong Kok in March 2023. (ii) The Government is proactively implementing industrial policies and competing for talents and enterprises, with a view to raising both the capacity and quality of the economy. By stepping up efforts in attracting enterprises and investment and promoting Hong Kong’s unique advantages, Hong Kong will continue to draw more Mainland and overseas enterprises and investment to set up or expand their operations here, including establishing new companies or upgrading existing business in Hong Kong to regional headquarters, thereby boosting demand for shops and office space. According to the results of the latest annual survey by Invest Hong Kong and the Census and Statistics Department, the number of companies in Hong Kong with overseas or Mainland parent companies rose to 9 960 in 2024, representing an annual growth of 10per cent and reaching a record high. The number of regional headquarters, regional offices and local offices of these companies also increased by more than 5 per cent, 4 per cent and 13 per cent respectively. In addition, by end 2024, the Office for Attracting Strategic Enterprises has successfully attracted nearly 70 strategic enterprises. The majority of these enterprises plan to establish their global or regional headquarters in Hong Kong, which will drive the demand for office space. (iii) In terms of land use planning, traditional office premises are mainly zoned “Commercial” (the “C” zone) on the statutory plans. Apart from office, the “C” zone generally accommodates various other always-permitted uses including hotel, eating place, shop and services, educational institution, exhibition or conference hall, place of recreation, sports or culture, place of entertainment, and information technology and telecommunications industries (such as data centres, data processing/computer centres). In other words, the current planning regime provides flexibility for developers to pursue other non-office commercial uses within the “C” zone, taking into account market conditions and business considerations. In addition, the recently amended planning guidelines for the Hung Shui Kiu / Ha Tsuen New Development Area in the Northern Metropolis no longer specify the allocation of floor space of commercial sites to office and retail uses. This is to reserve sufficient flexibility in planning to enable timely response to market changes.(iv) When planning the new development areas in the Northern Metropolis, we will suitably propose individual sites for a wider range of uses to cater for the changing market needs. For example, sites near the proposed Northern Link Railway Station are zoned “Other Specified Uses” annotated “Mixed Use” on the San Tin Technopole Outline Zoning Plan. This is to endow the area with flexibility in development, allowing various uses including commercial, residential, educational, cultural, recreational and entertainment uses, either vertically within a building or horizontally over a spatial area.   (v) For certain sizable development projects that involve larger investment, the Development Bureau (DEVB) will maintain close communication with the market and relevant industries, gauging the views of the stakeholders on the development direction of the project and the tender conditions. For example, the DEVB invited the market last December to submit expression of interest for the three pilot areas of large-scale land disposal in the Northern Metropolis, hoping to collect market views and suggestions in order to finalise the open tender details and conditions later. (vi) The Northern Metropolis is a development project spanning across a number of years. We are mindful of the need for flexibility in planning to timely meet the needs of the society and industry development. Even if the relevant statutory plans have designated the permitted land uses for sites within the Northern Metropolis, the current planning regime caters for adjustment by allowing applications for planning permission and amendment of plans. The Town Planning Board will holistically consider these applications in light of prevailing circumstances. 

     
    Ends/Wednesday, February 12, 2025Issued at HKT 17:45

    NNNN

    MIL OSI Asia Pacific News –

    February 13, 2025
  • MIL-OSI Global: We interviewed hundreds of Israelis and Gazans – here’s why we fear for the ceasefire

    Source: The Conversation – UK – By Nils Mallock, PhD Candidate, Department of Psychological and Behavioural Science, London School of Economics and Political Science

    As the ceasefire agreement between Israel and Hamas enters its fourth week, attention is now focusing on its more difficult second phase. And already the prospects of this proceeding as originally planned are looking extremely fragile.

    Hamas said it will delay the release of more Israeli hostages, arguing that Israel has breached the ceasefire conditions. Benjamin Netanyahu, the Israeli prime minister, has responded with the threat that if the hostage exchange doesn’t take place as scheduled then the fighting in Gaza would start again.

    Any agreement can only hold if it is supported by ordinary people, and if it reflects their perspectives – something easily overlooked in the public debate and foreign policy engagement.

    We conducted large representative surveys in Israel and Gaza in early January, days before the ceasefire was announced. This consisted of interview with over 1,400 respondents in a demographically matched online panel of the Jewish Israeli population, and as part of an in-person survey in Gaza. Respondents were matched by age, occupation, gender, education and religious group.

    Our findings have not been peer reviewed yet, but a preliminary report is available at the Open Science Foundation repository.

    Our data shows why 16 months of extreme violence and suffering have created psychological barriers to peace. They also suggest ways to achieve a more positive future.

    The immediate findings are sobering. In Israel, opposition to a two-state solution remains at an all-time high, with 62% of participants rejecting the idea – up from 46% before October 7.

    Nearly half of Israelis we spoke to were against living side by side, and one in five dismissed even the possibility of personal contact with Palestinians.

    In Gaza, the prospects of living side by side with Israelis are equally deemed unrealistic. Less than 31% of respondents supported any interpersonal contact. And less than half saw the formation of two states as an option to end the conflict.

    Contrary to one popular belief, direct exposure to the war does not by itself explain these increased hostilities. The attacks by Hamas on and since October 7 have left profound scars and reopened historical trauma for many, as have Israel’s relentless military attacks throughout Gaza.

    But according to our data, having immediate family members affected by the war or experiencing displacement was not associated with more extreme attitudes. For all the aggression taking place so far, the psychological blast radius is bigger than the physical one.

    Love and hate

    The key roadblock to peace may lie in each side’s understanding of why the other engages in violence. We asked Israelis and Palestinians why people from their group supported violence during the war, and why people from the other side supported violence. We found a profound asymmetry in both populations.

    Palestinians and Israelis said that attacks from their side were more motivated by what psychologists call “ingroup love” (care and concern for their own people) than by “outgroup hate” (passionate dislike of the other side). Yet both Israelis and Palestinians thought that the other side’s violence was more motivated by hatred.

    Why is this important? Social psychological studies demonstrate that the belief that we are hated by another group decreases our desire and optimism for diplomatic solutions, instead leading to an inclination to either separate from or destroy the other. Indeed, surveys conducted in September 2024 by the Palestinian Center for Policy and Survey Research found that most Israelis and Palestinians believed that the other side intended to commit genocide.

    Our data now shows that the more Israelis believed that Gazans were more motivated by outgroup hate than ingroup love, the more likely they were to believe that the October 7 attacks indicated genocidal intent.

    On both sides, it was this belief that the other was motivated by hate that explains the strengthened desire for social separation and blocking acceptance of reconciliation proposals. Nobody wants to interact with a group they think is predominantly hate driven.

    This is bad news for those attempting to implement and expand the ceasefire against these challenges. Perceived outgroup hate weakens their ability to recruit popular support for peace and strengthens the hand of spoilers.

    Bridging the divides

    Not all indicators are worsening, however. Snapshots of public opinion do not capture the way views can change. Compared to six months ago, more Israelis now favour diplomatic efforts over continued military action to resolve the crisis. And if the new hostage release deal holds firm, this trend may continue.

    Our research suggests that there is a hardened radical group making up about 20% in both populations who appear to resist any compromise on their moral and political beliefs. But most populations show fluctuating attitudes over time and in response to changing conditions. As violence becomes less salient, views may shift.

    Nevertheless, we should not ignore each side’s misperception of the motives of the other, but instead try to correct them. Research shows that correcting misperceptions of norms can be difficult, but when successful can change attitudes and behaviour.

    The risk now lies in a too narrow focus among current decision-makers – a delegitimised and fragmented Palestinian leadership, an infighting Israeli government, and a transaction-minded administration in Washington – seeking to secure political deals that deliver results on paper.

    For the ceasefire to endure, the policy focus will need to shift to bridging a deeper psychological divide.

    Jeremy Ginges receives funding from the U.S. National Science Foundation.

    Nils Mallock 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. We interviewed hundreds of Israelis and Gazans – here’s why we fear for the ceasefire – https://theconversation.com/we-interviewed-hundreds-of-israelis-and-gazans-heres-why-we-fear-for-the-ceasefire-249522

    MIL OSI – Global Reports –

    February 13, 2025
  • MIL-OSI Europe: Written question – EU climate policy as the cause of the hardships facing chemical industry workers in Kujawsko-Pomorskie Province – P-000611/2025

    Source: European Parliament

    Priority question for written answer  P-000611/2025
    to the Commission
    Rule 144
    Kosma Złotowski (ECR)

    The chemical industry in Europe is being put under increasing pressure by EU regulations, such as the Fit for 55 package. As a result, the Qemetica Soda Polska plant in Janikowo has had to suspend production due to the crisis on the European soda ash market.

    European chemical producers cannot compete with companies outside the EU, especially those in Turkey, which can supply soda ash to the EU market at much lower prices because they do not have to meet stringent emissions or environmental standards. As a result, European companies are being pushed out of the market, which is leading to production cuts and will inevitably result in job cuts in the future.

    • 1.What steps will the Commission take to level the playing field for European soda producers and protect the EU chemical industry from unfair competition from non-EU companies?
    • 2.Does the Commission intend to revise climate and environmental policy objectives that are detrimental to the competitiveness of EU heavy industry or introduce protective measures to compensate for differences in production costs and to protect jobs in Europe?
    • 3.If companies in the chemical sector are forced to reduce their workforce due to excessive European climate regulations, can they benefit from the European Globalisation Adjustment Fund for Displaced Workers?

    Submitted: 11.2.2025

    Last updated: 12 February 2025

    MIL OSI Europe News –

    February 13, 2025
  • MIL-OSI Europe: JOINT MOTION FOR A RESOLUTION on the escalation of violence in the eastern Democratic Republic of the Congo – RC-B10-0102/2025

    Source: European Parliament

    Ingeborg Ter Laak, Michael Gahler, Lukas Mandl, Sebastião Bugalho, Wouter Beke
    on behalf of the PPE Group
    Yannis Maniatis, Marit Maij
    on behalf of the S&D Group
    Waldemar Tomaszewski, Joachim Stanisław Brudziński, Cristian Terheş
    on behalf of the ECR Group
    Hilde Vautmans, Abir Al‑Sahlani, Petras Auštrevičius, Malik Azmani, Dan Barna, Benoit Cassart, Olivier Chastel, Engin Eroglu, Raquel García Hermida‑Van Der Walle, Ľubica Karvašová, Ilhan Kyuchyuk, Jan‑Christoph Oetjen, Urmas Paet, Marie‑Agnes Strack‑Zimmermann, Yvan Verougstraete
    on behalf of the Renew Group
    Sara Matthieu
    on behalf of the Verts/ALE Group
    Marc Botenga, Rudi Kennes, Manon Aubry, Rima Hassan, Damien Carême
    on behalf of The Left Group
    European Parliament resolution on the escalation of violence in the eastern Democratic Republic of the Congo

    (2025/2553(RSP))

    The European Parliament,

    – having regard to its previous resolutions on the Democratic Republic of the Congo (DRC),

    – having regard to the statement by the High Representative of the Union for Foreign Affairs and Security Policy on behalf of the EU of 25 January 2025 on the latest escalation in eastern DRC,

    – having regard to the statement by G7 foreign ministers of 2 February 2025 on the escalation of violence in the eastern Democratic Republic of the Congo,

    – having regard to the press statement of the UN Security Council of 26 January 2025 on the situation in the Democratic Republic of the Congo,

    – having regard to the special session of the UN Human Rights Council of 7 February 2025 on the human rights situation in the east of the Democratic Republic of the Congo,

    – having regard to the communiqué of the Peace and Security Council of the African Union of 28 January 2025 on the recent developments in the eastern Democratic Republic of Congo,

    – having regard to the Convention on the Elimination of all Forms of Discrimination against Women of 18 December 1979,

    – having regard to the Partnership Agreement of 15 November 2023 between the European Union and its Member States, of the one part, and the Members of the Organisation of African, Caribbean and Pacific States, of the other part[1],

    – having regard to Rule 136(2) and (4) of its Rules of Procedure,

    A. whereas in January 2025, the armed rebel group M23, backed by Rwandan forces, further advanced in the eastern DRC and seized the regional capital city of Goma; whereas violence between rebel groups and the Congolese army increased sharply, causing a high number of civilian casualties; whereas an estimated 3 000 deaths occurred during the offensive on Goma; whereas approximately 800 000 internally displaced people were sheltering at that time in densely populated displacement sites around the city;

    B. whereas M23 announced a unilateral ceasefire to begin on 4 February 2025; whereas fighting has nonetheless continued, Goma airport remains closed, air traffic management equipment is damaged and humanitarian access is still limited; whereas there are reports that the mining town of Nyabibwe in South Kivu has been captured by M23; whereas M23 leaders have declared their intention to continue advancing in the DRC; whereas the latest advances of M23 mark an alarming escalation of the devastating conflict in the eastern DRC, a violation of territorial integrity and an escalation in violence, leading to a dire humanitarian crisis, human rights violations and the further destabilisation of the country;

    C. whereas the region has been plagued by decades of cyclical violence, causing a security and humanitarian crisis; whereas after a ceasefire that lasted several years, the M23 fighters took up arms again at the end of 2021; whereas martial law has been in force since 2021 in the eastern DRC and the civilian government has been replaced by the military; whereas the M23 forces have been expanding their presence in the eastern DRC, setting up new governance administrations and taxation systems, establishing military training camps and exporting minerals directly to Rwanda; whereas the long-term consequences of the terrible 1994 Rwandan genocide against the Tutsi are still fuelling violence, hatred and forced displacements today;

    D. whereas on 23 and 24 January 2025, M23 fired on positions of the United Nations Organization Stabilization Mission in the DRC (MONUSCO), which resulted in the deaths of 13 peacekeepers deployed with MONUSCO and the peacekeeping mission led by the Southern African Development Community (SADC);

    E. whereas the UN Group of Experts concluded in its June 2024 report that the deployment of the Rwanda Defence Forces (RDF) ‘violates the sovereignty and territorial integrity of the Democratic Republic of the Congo’ and that the RDF’s ‘de facto control and direction over M23 operations also renders Rwanda liable for the actions of M23’;

    F. whereas the seizing of Goma has led to significant displacement of civilians; whereas over 500 000 people are estimated to have been displaced since early January 2025; whereas thousands of Congolese people had previously fled to the city to escape violence and have been further driven from camps for internally displaced people into makeshift tents or forced to sleep out in the open; whereas the safety of internally displaced people is now seriously threatened, with women and girls suffering disproportionately;

    G. whereas the deputy head of the UN peacekeeping force based in Goma has reported on the mass rape and killing of women inmates inside Goma’s Munzenze prison, and it is estimated that hundreds of women were raped and many burned alive in the prison;

    H. whereas women and girls in the DRC face increased levels of sexual and gender-based violence, resulting in there being one victim of rape every four minutes; whereas the staff of Panzi Hospital in Bukavu, which receives many survivors of sexual violence, is alarmed about the deteriorating security situation in the area and about the security of the staff and patients in Panzi Hospital itself;

    I. whereas the seizure of Goma triggered violent protests in Kinshasa, with dozens of protesters attacking embassies and calling on the international community to halt the advance of M23;

    J. whereas the conflict in the DRC is at risk of regional spillover; whereas a peacekeeping deployment from the East African Community Regional Forces withdrew in 2023; whereas the SADC deployed a peacekeeping mission to the DRC in December 2023 with troops from South Africa, Tanzania and Malawi; whereas at least 20 peacekeepers were killed during the M23 advance on Goma; whereas on 6 February 2025, Malawi announced the withdrawal of its troops from this mission;

    K. whereas it is widely acknowledged that Rwanda is active in the conflict in the eastern DRC, including through its de facto control of M23, to which it supplies weapons, logistical support and troops; whereas UN experts estimate that there are between 3 000 and 4 000 Rwandan troops operating with M23;

    L. whereas North Kivu is a resource-rich region, with vast supplies of critical raw materials including cobalt, gold and tin, which are necessary for the global digital and energy transition; whereas Goma is a major transport and trading hub for the export of minerals; whereas the UN estimates that around 120 tonnes of coltan are being moved by M23 to Rwanda each month; whereas UN experts further estimate that M23 is financed by around EUR 288 000 per month generated through its control of the mineral trade in the DRC; whereas the rebel groups often recruit child soldiers in a blatant violation of international law and humanity;

    M. whereas the International Criminal Court (ICC) investigations in the DRC have focused on alleged war crimes and crimes against humanity committed mainly in the eastern DRC, in the Ituri region and the North and South Kivu Provinces, since 1 July 2002; whereas the DRC made a second referral to the ICC in May 2023 concerning alleged crimes committed in North Kivu since 1 January 2022;

    N. whereas on 8 February 2025 at a joint summit in Tanzania’s capital Dar es Salaam, the regional blocs of southern Africa, the SADC, and eastern Africa, the East African Community (EAC), called for an immediate and unconditional ceasefire, demanded the withdrawal of uninvited foreign armed forces from the DRC territory, urged all warring parties to hold peace talks within five days, and demanded the reopening of Goma airport and other key routes to facilitate humanitarian aid; whereas the African Union is set to address the matter at a meeting in Addis Ababa on 14 February 2025; whereas other mediation efforts are ongoing, notably by France, which aims to bring all actors to the negotiation table;

    O. whereas the Foreign Affairs Council of the Council of the EU is expected to exchange views on the situation in the DRC on 24 February 2025;

    P. whereas between 2021 and 2024, the EU provided EUR 260 million in funding to Rwanda, with an additional EUR 900 million pledged under the Global Gateway strategy; whereas following the latest developments in the eastern DRC, the EU declared that it stood ready to boost emergency assistance, particularly for the newly displaced populations in and around Goma, and on 28 January 2025, the Commission announced new humanitarian support for the DRC with an initial amount of EUR 60 million for 2025; whereas the EU is trying to intensify its presence in the region, including through its recent support for the ‘Green Corridor Kivu-Kinshasa’ programme via a Global Gateway initiative, which aims to help establish a sustainable 2 600 km corridor connecting the eastern DRC to Kinshasa and the Atlantic Coast, covering 540 000 km2;

    Q. whereas the EU has formed raw materials partnerships with several countries, including the DRC, Rwanda and other countries in the region; whereas these partnerships are focused on, among other things, advancing due diligence and traceability, cooperation in fighting against the illegal trafficking of raw materials, and alignment with international environmental, social and governance standards; whereas Parliament, unlike the Council, was not given the opportunity by the Commission to share its political assessment of the decision to negotiate a Memorandum of Understanding (MoU) with Rwanda or to provide technical feedback on the draft MoU;

    R. whereas the DRC Foreign Affairs Minister Thérèse Kayikwamba Wagner and Nobel Prize laureate Denis Mukwage briefed Parliament on 5 February 2025, at an extraordinary meeting of the Delegation to the Africa-EU Parliamentary Assembly (DAFR) and the Committee on Development, on the occupation of the eastern DRC and the dire humanitarian impact on the local population and internally displaced people;

    S. whereas the Council appointed Johan Borgstam as the EU Special Representative for the Great Lakes Region on 1 September 2024; whereas on 30 January 2025, DAFR organised an extraordinary hearing with the EU Special Representative and Bintou Keita, Head of MONUSCO;

    T. whereas prior to recent developments, the DRC faced one of the largest displacement crises in Africa, with 6.7 million internally displaced persons, including 4.6 million in South and North Kivu; whereas the DRC also hosts over 520 000 refugees and asylum seekers from neighbouring countries, while 1.1 million refugees from the DRC are being hosted in neighbouring countries in the region, more than half of them in Uganda; whereas the recent surge in violence has internally displaced over half a million people since the beginning of the year; whereas given the severe overcrowding in the displacement sites where people remain and the lack of water, sanitation and hygiene infrastructure, the risk of a cholera outbreak is extremely high, along with that of a rapid spread of the Mpox epidemic;

    1. Strongly condemns the occupation of Goma and other territories in the eastern DRC by M23 and the RDF as an unacceptable breach of the DRC’s sovereignty and territorial integrity; urges the Rwandan Government to withdraw its troops from DRC territory, as they are in clear violation of international law and the UN Charter, and to cease cooperation with the M23 rebels; demands that Rwanda and all other potential state actors in the region cease their support for M23;

    2. Strongly condemns the indiscriminate attacks with explosive weapons in populated areas of North Kivu by all parties, including on displacement camps and other densely populated areas near Goma, as well as the unlawful killings, rapes and other apparent war crimes, forced labour, forced recruitment and other abusive practices committed by M23 with the support of the RDF and by the armed forces of the DRC, the FARDC;

    3. Is appalled by the shocking use of sexual violence against women and girls as a tool of repression and weapon of war in the eastern DRC as well as the unacceptable recruitment of child soldiers by the various rebel groups; demands that these matters be addressed by the international community without delay; strongly reiterates that any attack against UN-mandated forces is inexcusable and might be considered a war crime;

    4. Calls for an immediate end to the violence, particularly the mass killings and the use of rape as a strategic weapon of war; calls on the DRC and Rwanda to investigate and appropriately prosecute those responsible for war crimes, including sexual violence, under the principle of command responsibility;

    5. Is extremely concerned by the critical humanitarian situation in the country; calls for the immediate reopening of Goma airport to re-establish humanitarian operations and bring in supplies via the airport and the land border; calls for the creation and immediate opening of humanitarian corridors and for all parties, including armed groups operating in the eastern DRC, to allow and facilitate full humanitarian access based on needs and humanitarian principles, including ensuring that civilians and displaced people are not denied access to items essential for their survival;

    6. Emphasises that humanitarian workers must be able to operate safely to deliver life-saving assistance to Congolese civilians, and that the safety of medical facilities must be preserved; stresses that this is a central obligation under international humanitarian law, and that perpetrators violating these obligations should be held to account; underlines that Rwanda and the neighbouring countries have a special responsibility to facilitate humanitarian access to the region;

    7. Strongly condemns the attack on diplomatic institutions of the EU, its Member States and civil society organisations, such as political foundations in Kinshasa; underlines that the protection of civilians and diplomatic staff must be guaranteed;

    8. Expresses concern over the lack of coherence in the EU response to the Great Lakes region’s crises and calls on the Council to reassess the implementation of its renewed EU Great Lakes strategy; recalls that the EU and its special representative for the region are ready to assist all mediation efforts;

    9. Welcomes the increased humanitarian support pledged by the EU, notes that this still falls far short of meeting the basic needs for food, water, medical assistance and shelter in the eastern DRC, especially in the light of the recent termination of support from the United States Agency for International Development (USAID); calls on the Commission and the international community to significantly step up financial support for urgent and life-saving assistance;

    10. Regrets that the EU has not taken appropriate measures to sufficiently address the crisis and effectively press Rwanda to end its support for M23, and that it has instead taken steps – including the signing in February 2024 of an MoU on sustainable raw materials value chains without sufficiently discussing the conflict, and the decision to top up support for Rwanda’s deployment in Mozambique under the European Peace Facility (EPF) – that have failed to demonstrate sufficient safeguards and that have contributed to sending an inconsistent message to the Rwandan authorities;

    11. Urges the Commission and the Council to immediately suspend the EU-Rwanda MoU on sustainable raw materials value chains until Rwanda proves that it is ceasing its interference and its exportation of minerals mined from M23-controlled areas; calls on all actors to increase transparency and to effectively ban the entry of all blood minerals into the EU;

    12. Calls on the Commission to render the future re-activation of cooperation on critical raw materials conditional upon Rwanda joining the Extractive Industries Transparency Initiative, which the DRC is already part of;

    13. Calls on the Commission and the Member States to ensure that the current Conflict Minerals Regulation[2] is strongly enforced and on the Commission to propose a revision of the EU rules, with the aim of ensuring the highest standards of traceability and transparency;

    14. Notes that parliamentary oversight and civil society involvement in the preparation, signing and implementation of raw material MoUs and roadmaps are essential for an inclusive process with adequate scrutiny, and must become part of the MoU;

    15. Calls on the Commission, the Member States and the international financial institutions to freeze direct budget support to Rwanda subject to it meeting conditions on, among other things, humanitarian access and the breaking of all links with M23; urges the Commission and the Member States to freeze their military and security assistance to the Rwandan armed forces to ensure that they do not contribute directly or indirectly to abusive military operations in the eastern DRC; calls strongly, in particular, for a review of the EU’s renewed support under the EPF to ensure that troops deployed in northern Mozambique and benefiting from EPF support, as well as their commanders, have been properly vetted and have not been involved in the eastern DRC or in other human rights violations, with a view to suspending the support if it is found to contribute directly or indirectly to abusive military operations in the eastern DRC;

    16. Urges the Commission and all Member States to ban the transfer of weapons to the Rwandan forces and M23 and to ensure greater transparency of trade in EU weapons;

    17. Urges the Council to expand sanctions against senior M23 commanders, leaders of other armed groups and senior officials from the DRC and Rwanda, including Major-General Eugene Nkubito, the commander of the RDF’s 3rd Division Major-General Ruki Karusisi, RDF Special Force Commander, and Major-General Emmy K. Ruvusha, Commander of the Rwanda Security Forces, all identified in the June 2024 report of the UN Group of Experts and in reports from other countries across the region as being responsible for or complicit in recent serious abuses by their forces or those for which they have command responsibility;

    18. Urges the European External Action Service (EEAS), the Member States and the Government of the DRC to take immediate action to prevent sexual violence and improve care for survivors, including by adapting the national legal framework to guarantee access to medical abortion care; draws attention to the health needs of pregnant women, notably those who are displaced and out of reach of medical support; calls on the EEAS and the Member States to further prioritise the disbursement of humanitarian support for women and girls in the region;

    19. Calls on the Commission to continue supporting anti-corruption efforts and the strengthening of governance in the DRC;

    20. Commends the Prosecutor of the ICC’s announcement that the ICC will continue to investigate alleged crimes committed by any person, irrespective of affiliation or nationality; reiterates the EU’s unwavering support for the ICC and calls on the Council and Commission to fulfil their obligations to ensure the functioning and effectiveness of the ICC;

    21. Reiterates its full support for MONUSCO in protecting civilians and stabilising the region; urges the EU to cooperate with all actors on the ground, in particular MONUSCO, to ensure the protection of civilians in the eastern DRC; calls on the UN to work towards a stronger mandate for MONUSCO in order to enable peacemaking; calls on the UN to ensure the protection of civilians and respect for international humanitarian law, particularly given the increased risk of gender-based violence, and to preserve the safety of humanitarian staff, health workers and medical facilities;

    22. Calls on the UN to take immediate and specific measures to protect Panzi Hospital and its patients and staff;

    23. Welcomes the special session of the UN Human Rights Council of 7 February 2025 on the human rights situation in the east of the DRC; supports the establishment of an independent commission of inquiry into serious violations committed since January 2022;

    24. Reiterates its condemnation of hate speech and xenophobia, as well as ethnic-based politics; underlines that all those responsible for sustaining armed conflict, instability and insecurity in the DRC must be held accountable;

    25. Is concerned about the consequences of Russian interference in the conflict and more widely in the region, and about the increasing presence of disinformation campaigns; condemns, in particular, efforts by Russia to foster anti-Western sentiment through the dissemination of fake news on social media about Western players;

    26. Expresses its concern about the increasing presence of Chinese actors in the mining sector of the DRC and the region acting without respect for economic and social responsibilities, and recalls that European industries and companies in the region will only have long-term security of supply if a long-lasting and peaceful solution to the conflict is found;

    27. Recalls that only an inclusive and regional approach will be able to address and tackle the multifaceted, long-standing problems in the region; strongly welcomes the joint SADC and EAC peace summit in Dar es Salaam on 8 February 2025; reiterates, in this regard, its full support for the Luanda and Nairobi processes and calls upon all Great Lake countries, in particular the DRC and Rwanda, to urgently pursue negotiations within these frameworks; emphasises that any solution must also address the root causes of the conflict, including, but not limited to, the illicit trafficking of natural resources; calls on the Commission and the Member States to fully support national and regional initiatives, such as the initiative of the Congolese Catholic and Protestant leaders, and the Luanda Process; underlines that regional organisations, such as the African Union, the SADC and the EAC, must play a central role in all of these efforts; underlines also that a lasting solution requires a reform of the DRC security sector, with a better organised DRC army and administration;

    28. Calls on the international community and all actors involved to use the Addis Ababa framework agreement and to organise an international conference for peace in the eastern DRC and the Great Lakes region; stresses that this ‘Business for Peace’ conference will have the unique feature of having the private sector around the peace negotiation table, since the war is about strategic minerals; underlines that business people can have significant leverage to push their countries to act for peace; believes that the business for peace approach can help us move forward in finding a solution;

    29. Calls for the cancellation of the 2025 International Cycling Union (UCI) Road World Championships in Kigali if Rwanda does not change course;

    30. Instructs its President to forward this resolution to the Council, the Commission, the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy, the Government and Parliament of Rwanda and of the Democratic Republic of the Congo, the African Union, the secretariats of the United Nations Organization Stabilization Mission in the Democratic Republic of the Congo, the Southern African Development Community and the East African Community, and other relevant international bodies.

    MIL OSI Europe News –

    February 13, 2025
  • MIL-OSI Europe: Press release – Parliament green lights update of VAT rules to make them fit for digital times

    Source: European Parliament 3

    The update will notably require that VAT be paid for services provided through online platforms, putting an end to an unfair distortion of competition. It will also fight VAT fraud.

    On Wednesday, Parliament’s plenary approved the changes to the rules that member states indicated in November they wished to make to the VAT Directive. MEPs approved the rules with 589 votes in favour, 42 against and 10 abstentions.

    These changes will require that by 2030 online platforms must pay VAT for services provided through them in most of the cases where the individual service providers do not charge VAT. This will put an end to a distortion of the market because similar services provided in the traditional economy are already subject to VAT. This distortion has been most significant in the short-term accommodation rental sector and the road passenger transport sector. Member states will have the possibility of exempting SMEs from this rule, an idea which Parliament had also pushed.

    The update will also fully digitalise VAT reporting obligations for cross-border transactions by 2030 with businesses issuing e-invoices for cross-border business-to-business transactions and automatically reporting the data to their tax administration. With this, tax authorities should be in a better position to tackle VAT fraud.

    To simplify the administrative burden for businesses, the rules beef-up online VAT one-stop-shops so that even more businesses with cross-border activity will be able to meet their VAT obligations through a single online portal and in one language.

    Background

    This update to the VAT rules has been over two years in the making. On 8 December 2022, the Commission presented the ‘VAT in the digital age’ package (ViDA package) which consisted of three proposals. One of these was the update to the VAT directive of 2006.

    The Commission has calculated that Member States will recoup up to €11 billion in lost VAT

    revenues every year for the next 10 years. Businesses will save €4.1 billion a year over the next 10 years in compliance costs, and €8.7 billion in registration and administrative costs over a ten year period.

    MIL OSI Europe News –

    February 13, 2025
  • MIL-OSI United Kingdom: New investment in Royal Navy fleet communications to boost jobs

    Source: United Kingdom – Executive Government & Departments

    £250 million upgrade to naval communications will support more than 100 high-skilled UK jobs, delivering on the Government’s Plan for Change.

    Royal Navy ships at sea – HMS Richmond and HMS Diamond

    More than 100 high-skilled jobs will be secured in the UK thanks to a new £250 million contract to upgrade the communications systems of the Royal Navy’s warship and submarine fleet.

    Jobs at Thales sites in Portsmouth, Plymouth, Crawley, Reading and Bristol will be supported after the company was awarded the largest-ever contract for the provision of naval communication capabilities.

    This large-scale investment helps to support the objectives of the upcoming Defence Industrial Strategy – to drive investment to UK-based businesses and boost defence jobs in every nation and region of the country.

    The 10-year long contract for Maritime Communications Capability Support (MCCS), awarded by Defence Equipment & Support, will upgrade the Royal Navy’s internal and external fleet communications, strengthening the UK’s continuous at sea deterrent and supporting global operations.

    Contracts like this one are a key part of the UK Government’s Plan for Change, safeguarding national security whilst raising living standards across the UK with good, skilled, productive jobs.

    It is estimated the new contract will also save the Royal Navy up to £30 million in costs over the next decade. 

    Minister for Defence Procurement and Industry, Maria Eagle MP, said:

    This new contract is a vital step in ensuring our forces remain secure at home and strong abroad. By enhancing the capabilities of our naval operations, we are reinforcing the UK’s ability to respond to threats wherever they arise. 

    In an increasingly volatile world, robust communication is the backbone of operational success. In the face of global threats, the upcoming Defence Industrial Strategy will ensure defence is an engine for growth, boosting British jobs, and strengthening national security.

    Communication systems on Royal Navy Units are a critical component of a platform’s ability to operate and fight. To meet and sustain global commitments requires resilient and enduring support contracts to maintain mission-critical equipment at the highest levels of operational capability and availability. 

    The MCCS arrangement replaces the previous Fleetwide Communications contract which Thales UK has overseen for the past seven years. Thales UK will also provide “waterfront” office services, recovery for ageing equipment and inventory management, ensuring spare part availability and ongoing defect repairs as required. 

    A key element to the contract is fostering closer collaboration between DE&S, the Royal Navy, and Thales UK, effectively delivering a ‘one defence’ team which reduces bureaucracy while boosting efficiency.  

    Commodore Phil Game, Director of Sense, Decide & Communicate at DE&S, said: 

    First and foremost, this announcement ensures the Royal Navy continues to have effective and secure communications equipment with continuous support from Thales, which has Europe’s largest team of marine communications engineers, supporting its vital work keeping the UK and our allies safe. 

    Crucially, we have looked at outcomes from other successful defence programmes and applied the lessons learned from those, in particular cutting unnecessary red tape and bureaucracy allowing Thales much more freedom to get the job done.

    We estimate that the scope of this contract will save between £25 million and £30 million in through life costs to the Royal Navy over the 10-year support period by working in a much more collaborative way with Thales UK, underlining our ‘one defence’ philosophy.

    This investment demonstrates the government’s commitment to national security and follows the launch of the consultation for the Defence Industrial Strategy – which will place deterrence at the heart of a new approach and ensures the defence sector is an engine for growth in every region and nation of the UK.   

    Phil Siveter, CEO Thales in the UK, said:  

    At Thales we are delighted to continue supporting the Royal Navy in its vital mission to protect our nation. This long-term fleetwide support framework reflects our unwavering commitment to ensuring the Royal Navy remains combat-ready and equipped with world-class communications capabilities, today and into the future.  

    Building on seven years of trusted partnership, we are proud to provide the technical excellence and on-the-ground support that keeps ships, submarines and installations operational and mission-ready. By working as ‘one team’ across the Naval Enterprise, we are driving innovation and systems integration to place the Royal Navy at the cutting edge of defence technology for the next decade.

    Share this page

    The following links open in a new tab

    • Share on Facebook (opens in new tab)
    • Share on Twitter (opens in new tab)

    Updates to this page

    Published 12 February 2025

    MIL OSI United Kingdom –

    February 13, 2025
  • MIL-OSI Russia: “It’s better not to postpone a good deed”: the winners of the NIRS-2024 competition were awarded

    Translartion. Region: Russians Fedetion –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    On February 10, the HSE hosted an awards ceremony for the winners and laureates of the 2024 Best Student Research Paper Competition. 1,916 papers were submitted to the competition, 320 people became winners and laureates, and the awards ceremony was held in four sections: social sciences, economic and managerial sciences, exact sciences, humanities, and creative industries.

    “An achievement to build on”

    The winners and laureates of the social sciences section were congratulated by the first vice-rector of the National Research University Higher School of Economics Vadim Radaev. He said that the audience included those who had started doing research while still students, and noted: “You did the right thing: it is better not to postpone a good deed.”

    Vadim Radaev recalled that the NIS competition was first held in 2003 in five areas, and now there are 25 of them, with students not only from HSE but also from other Russian universities participating. Each application was read by at least two experts, there were more than a thousand of them in total, and they did this voluntarily and free of charge. The First Vice-Rector also thanked the experts and organizers of the competition.

    First Vice Dean Faculty of Social Sciences Mikhail Mironyuk called winning the competition an achievement that he should build on in his future studies and career: enroll in master’s and postgraduate programs, find work in laboratories and research institutes.

    Deputy Dean for Research Faculty of Law Alexander Larichev reported that the competition included research on various sections of jurisprudence, as well as interdisciplinary research. “Your works contain a fresh, non-trivial view, and this allows us to achieve new interesting results,” he added.

    “We were able to convince the experts”

    Vice-Rector of the National Research University Higher School of Economics Sergey Roshchin spoke at the section on economic and managerial sciences. He called the victory in the research competition no less important than receiving a university diploma.

    “I am glad that among the winners of the NRS competition are students and graduates not only of HSE, but also of other universities. It is important to understand that beyond your usual environment there is a community that is moving in the same direction, solving similar problems and, perhaps, ahead of you in some ways,” the vice-rector added.

    Dean Faculty of Economic Sciences Sergey Pekarsky said that the competencies demonstrated by the winners and laureates of the NIRS competition are needed always and everywhere. One of them is the ability to persuade: they were able to convince the experts that their works are the best.

    According to the deputy director Higher School of Business HSE Igor Tsarkov, despite the importance of applied work in the field of management, “there is no more practical thing than a good theory,” and the NIRS competition contains many works completed in accordance with research canons. Associate Professor St. Petersburg School of Economics and Management Irina Sizova emphasized that the students demonstrated the ability not only to work with data, but also to collect it.

    First Vice Dean Faculty of World Economy and World Politics Igor Kovalev recalled that the competition participants achieved success with the support of their scientific supervisors, and advised not to lose contact with them.

    “The moment of triumph of the mind”

    Opening the section on humanities and creative industries, Ivan Gruzdev, Director of Internal Research and Academic Student Development at HSE, called the award ceremony for winners and laureates “a moment of triumph of the mind,” since the smartest students are sitting in the audience.

    Dean Faculty of Humanities Felix Azhimov stated that engineering and natural science disciplines are a priority all over the world today, but humanities are still in great demand. This cannot be explained by “escape from mathematics” (especially since, for example, linguists need it). The reason for the interest is different. By studying the humanities, a person demonstrates his best moral qualities, including honesty and willingness to take responsibility.

    Scientific and technological progress is certainly of decisive importance, the director clarified. Institute of Media Faculty of Creative Industries Ernest Matskyavichyus, but if there are no humanities scholars, who will tell people that it has taken place? At the same time, it is important for media workers not to turn into “pure artisans”, they value the fundamental knowledge that is provided at the HSE. In his opinion, students here conduct research, demonstrating a new view, in which there are fewer prejudices, more courage and drive.

    Deputy Dean for Research St. Petersburg School of Humanities and Arts Renata Goroshkova said that the winners and laureates of the NIRS competition are on the right path, which is “not always easy and not strewn with diamonds,” but, in her opinion, “the most interesting of all possible.”

    Feedback and recognition

    At the exact sciences section, HSE Vice-Rector Elena Odoevskaya asked students about their impressions of the NIRS competition. During an informal conversation, it became clear, in particular, that for them the competition is an opportunity to receive not only feedback, but also recognition that they are interested in participating in the HSE students and young scientists academic development project “Republic of Scientists“.

    “I would really like our partnership not to end with a diploma from the research competition and a beautiful photograph, so that you establish communication with scientists and the university administration, so that you can continue to remain in our wonderful science,” said Elena Odoevskaya. In her opinion, it is important to retain each winner and laureate of the competition in the scientific field.

    Dean Faculty of Chemistry Vitaly Kotov emphasized that HSE holds various scientific competitions for students, and if at the NIRS competition research is assessed anonymously, then at another competition, organized by the Faculty of Chemistry, participants first present their work on stands, and then give flash reports.

    Answering the question of the first vice-dean Faculty of Computer Science Tamara Voznesenskaya, what qualities a scientist should have, the students named patience, critical thinking and curiosity. She, in turn, noted that people who are characterized by curiosity find it difficult to do routine work in companies even for big money, and spoke about the opportunities for development in the scientific field.

    “The Turning Point”

    Every year, students from different campuses of the HSE participate in the research competition, and in 2024, representatives of the St. Petersburg campus achieved significant success. In the Management program, they took almost all the prizes. Among them are students of the bachelor’s program “International Business and Management“Sofia Ilyakova and Shahzodakhon Shavkatjon kizi Botirova, who took first place.

    “Our research focuses on the factors that influence the success of crowdfunding campaigns in the Russian film industry on the Planeta.ru platform. We examined two levels of campaign success – reaching 50% and 100% of the target amount, showing that success depends on the number of people who supported the project, the duration of the campaign and the stated goal. We also developed recommendations for managers in the film industry,” said Sophia.

    In the Psychology category, third place was taken by students from the Master’s programData Analytics for Business and Economics» Ekaterina Kalganova and Daria Levanovich. They studied the impact of participation in events held in coworking spaces on the formation of team creativity of employees.

    “My future plans include developing and deepening this research. I am also attracted by the prospect of publishing an article in one of the scientific journals. I am sure that winning a prize in the competition will be a turning point in my academic development,” Ekaterina noted.

    In the category “World Economy”, a student from China, Wang Jinhai, distinguished himself by taking first place. He also became a laureate in the category “Finance”. At the St. Petersburg campus, he is studying in the master’s program “Global and Regional History” and is convinced that science is his calling.

    “My research interests are quite broad. I am currently working on several other studies, the topics of which are interesting in the Russian context, and I have already submitted several articles to leading journals devoted to social sciences. I hope that winning the NIRS competition will help me interact with Russian scientists and contribute to a better understanding of their approaches to studying economics and finance,” Wang Jinhai noted.

    “Participation is already a success”

    Second place in the direction of “Urban studies, urban and transport planning” was taken by fourth-year students of the bachelor’s program “Urban planning» Zoya Ermokhina, Elizaveta Dekkusheva, Anna Kochetkova, Dmitry Moiseyev and Amira Tsarbaeva. The team was formed in the second year, and since then they have been writing scientific papers together.

    Their research for the research competition was devoted to the topic of anniversaries as drivers of urban space modernization. “The topic was suggested by our scientific supervisor Anton Valerievich Gorodnichev, and we compared 11 cases of holding anniversaries in Russia, starting with the millennium of Kazan in 2005 and ending with the millennium of Suzdal in 2024. We identified three types of modernization: an image anniversary, that is, transformations for the promotion of the city, an anniversary for solving local problems, and a mixed type,” explains Amira.

    “Our work is unique because no one before us has considered an anniversary as a modernization process. But an anniversary changes the urban space: new objects are built, infrastructure is created, improvements are carried out,” adds Dmitry. According to Elizaveta, they heard about the NRS competition from the first days of their studies at the HSE. “Even participating in it is already a success,” she says.

    Student of the Master’s program “Systems and software engineering» Ilya Derezovsky took third place in the Computer Science category. “This is my first experience of participating in a research competition, as well as the experience of writing my first serious scientific publication. Therefore, winning the competition was doubly unexpected and pleasant,” he says.

    The young scientist conducted a study in which he had to come up with an informative, visual and aesthetic way to visualize data as part of one of his projects NUL process-oriented information systems under the supervision of Alexey Mitsyuk, a senior research fellow at this laboratory and deputy dean for research at the Faculty of Computer Science. Ilya notes that he received positive experience in scientific work and the desire to continue developing in the academic environment thanks to the support of his colleagues at the laboratory.

    “The atmosphere of HSE’s scientific laboratories is unique, charged with the energy of people interested in their topic, incredibly valuable experience, support and knowledge. HSE is the best place to try yourself in science, and the research is one of the most significant events at the university, where many young researchers begin their careers,” says Ilya Derezovsky.

    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 –

    February 13, 2025
  • MIL-OSI: Radware Reports Fourth Quarter and Full Year 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Fourth Quarter 2024 Financial Results and Highlights

    • Revenue of $73 million, an increase of 12% year–over–year
    • Non-GAAP diluted EPS of $0.27 vs. $0.13 in Q4 2023; GAAP diluted EPS of $0.06 vs. $(0.14) in Q4 2023

    Full Year 2024 Financial Results and Highlights

    • Revenue of $275 million, an increase of 5% year-over-year
    • Cloud ARR of $77.3 million, an increase of 19% year-over-year
    • Non-GAAP diluted EPS of $0.87 vs. $0.43 in 2023; GAAP diluted EPS of $0.14 vs. $(0.50) in 2023
    • Cash flow from operations of $71.6 million compared to $(3.5) million last year

    TEL AVIV, Israel, Feb. 12, 2025 (GLOBE NEWSWIRE) — Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today announced its consolidated financial results for the fourth quarter ended December 31, 2024.

    “We are pleased to report a strong finish to 2024, growing revenue 12% year-over-year and more than doubling non-GAAP EPS to $0.27 in the fourth quarter. Our full year results were driven by accelerated cloud ARR growth of 19%, the success of our DefensePro X DDoS protection refresh, and strong performance from our OEM partnerships,” said Roy Zisapel, Radware’s president and CEO. “Looking ahead, we plan to increase investment in and accelerate our cloud security growth by further expanding our market leading AI enabled security capabilities, opening new cloud security service centers and expanding our cloud channels. We are confident in our strategy, excited about the opportunities ahead, and believe in our ability to deliver long-term success.”

    Financial Highlights for the Fourth Quarter and Full Year 2024

    Revenue for the fourth quarter and full year of 2024 totaled $73.0 million and $274.9 million, respectively:

    • Revenue in the Americas region was $32.8 million for the fourth quarter of 2024, an increase of 33% from $24.6 million in the fourth quarter of 2023. Revenue in the Americas region for the full year of 2024 was $117.7 million, an increase of 14% from $103.4 million in the full year of 2023.
    • Revenue in the Europe, Middle East, and Africa (“EMEA”) region was $23.3 million for the fourth quarter of 2024, a decrease of 6% from $24.9 million in the fourth quarter of 2023. Revenue in the Europe, Middle East, and Africa (“EMEA”) region for the full year of 2024 was $94.1 million, a decrease of 2% from $96.5 million in the full year of 2023.
    • Revenue in the Asia-Pacific (“APAC”) region was $16.9 million for the fourth quarter of 2024, an increase of 8% from $15.5 million in the fourth quarter of 2023. Revenue in the Asia-Pacific (“APAC”) region for the full year of 2024 was $63.1 million, an increase of 3% from $61.4 million in the full year of 2023.

    GAAP net income for the fourth quarter of 2024 was $2.5 million, or $0.06 per diluted share, compared to GAAP net loss of $5.9 million, or $(0.14) per diluted share, for the fourth quarter of 2023. GAAP net income for the full year of 2024 was $6.0 million, or $0.14 per diluted share, compared to GAAP net loss of $21.6 million, or $(0.50) per diluted share, for the full year of 2023.

    Non-GAAP net income for the fourth quarter of 2024 was $11.9 million, or $0.27 per diluted share, compared to non-GAAP net income of $5.5 million, or $0.13 per diluted share, for the fourth quarter of 2023. Non-GAAP net income for the full year of 2024 was $37.7 million, or $0.87 per diluted share, compared to non-GAAP net income of $18.9 million, or $0.43 per diluted share, for the full year of 2023.

    As of December 31, 2024, the Company had cash, cash equivalents, short-term and long-term bank deposits, and marketable securities of $419.7 million. Cash flow from operations was $12.7 million and $71.6 million in the fourth quarter and full year of 2024, respectively.

    Non-GAAP results are calculated excluding, as applicable, the impact of stock-based compensation expenses, amortization of intangible assets, litigation costs, acquisition costs, restructuring costs, exchange rate differences, net on balance sheet items included in financial income, net, and tax-related adjustments. A reconciliation of each of the Company’s non-GAAP measures to the most directly comparable GAAP measure is included at the end of this press release.

    Conference Call
    Radware management will host a call today, February 12, 2025, at 8:30 a.m. EST to discuss its fourth quarter and full year 2024 results and first quarter 2025 outlook. To participate on the call, please use the following numbers:
    U.S. participants call toll free: 1-877-704-4453
    International participants call: 1-201-389-0920

    A replay will be available for seven days, starting two hours after the end of the call, on telephone number 1-844-512-2921 (US toll-free) or 1-412-317-6671. Access ID 13750817.

    The call will be webcast live on the Company’s website at: http://www.radware.com/IR/. The webcast will remain available for replay during the next 12 months.

    Use of Non-GAAP Financial Information and Key Performance Indicators
    In addition to reporting financial results in accordance with generally accepted accounting principles (GAAP), Radware uses non-GAAP measures of gross profit, research and development expense, selling and marketing expense, general and administrative expense, total operating expenses, operating income, financial income, net, income before taxes on income, taxes on income, net income and diluted earnings per share, which are adjustments from results based on GAAP to exclude, as applicable, stock-based compensation expenses, amortization of intangible assets, litigation costs, acquisition costs, restructuring costs, exchange rate differences, net on balance sheet items included in financial income, net, and tax–related adjustments. Management believes that exclusion of these charges allows for meaningful comparisons of operating results across past, present, and future periods. Radware’s management believes the non-GAAP financial measures provided in this release are useful to investors for the purpose of understanding and assessing Radware’s ongoing operations. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is included with the financial information contained in this press release. Management uses both GAAP and non-GAAP financial measures in evaluating and operating the business and, as such, has determined that it is important to provide this information to investors.

    Annual recurring revenue (“ARR”) is a key performance indicator defined as the annualized value of booked orders for term-based cloud services, subscription licenses, and maintenance contracts that are in effect at the end of a reporting period. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those items. ARR is not a forecast of future revenue, which can be impacted by contract start and end dates and renewal rates and does not include revenue reported as perpetual license or professional services revenue in our consolidated statement of operations. We consider ARR a key performance indicator of the value of the recurring components of our business.

    Safe Harbor Statement

    This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions, including as a result of the state of war declared in Israel in October 2023 and instability in the Middle East, the war in Ukraine, and the tensions between China and Taiwan; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively; a shortage of components or manufacturing capacity could cause a delay in our ability to fulfill orders or increase our manufacturing costs; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia’s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; the ability of vendors to provide our hardware platforms and components for the manufacture of our products; our ability to attract, train, and retain highly qualified personnel; intense competition in the market for cyber security and application delivery solutions and in our industry in general, and changes in the competitive landscape; our ability to develop new solutions and enhance existing solutions; the impact to our reputation and business in the event of real or perceived shortcomings, defects, or vulnerabilities in our solutions, if our end-users experience security breaches, if our information technology systems and data, or those of our service providers and other contractors, are compromised by cyber-attackers or other malicious actors, or by a critical system failure; outages, interruptions, or delays in hosting services; the risks associated with our global operations, such as difficulties and costs of staffing and managing foreign operations, compliance costs arising from host country laws or regulations, partial or total expropriation, export duties and quotas, local tax exposure, economic or political instability, including as a result of insurrection, war, natural disasters, and major environmental, climate, or public health concerns, such as the COVID-19 pandemic; our net losses in the past two years and possibility we may incur losses in the future; a slowdown in the growth of the cyber security and application delivery solutions market or in the development of the market for our cloud-based solutions; long sales cycles for our solutions; risks and uncertainties relating to acquisitions or other investments; risks associated with doing business in countries with a history of corruption or with foreign governments; changes in foreign currency exchange rates; risks associated with undetected defects or errors in our products; our ability to protect our proprietary technology; intellectual property infringement claims made by fourth parties; laws, regulations, and industry standards affecting our business; compliance with open source and fourth-party licenses; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website at www.radware.com.

    About Radware
    Radware® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, and API security solutions use AI-driven algorithms for precise, hands-free, real-time protection from the most sophisticated web, application, and DDoS attacks, API abuse, and bad bots. Enterprises and carriers worldwide rely on Radware’s solutions to address evolving cybersecurity challenges and protect their brands and business operations while reducing costs. For more information, please visit the Radware website.

    Radware encourages you to join our community and follow us on: Facebook, LinkedIn, Radware Blog, X, YouTube, and Radware Mobile for iOS.

    ©2025 Radware Ltd. All rights reserved. Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.

    Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.

    The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

    CONTACTS
    Investor Relations:
    Yisca Erez, +972-72-3917211, ir@radware.com

    Media Contact:
    Gerri Dyrek, gerri.dyrek@radware.com

    Radware Ltd.  
    Condensed Consolidated Balance Sheets  
    (U.S. Dollars in thousands)  
             
      December 31,   December 31,  
      2024    2023   
      (Unaudited)   (Unaudited)  
    Assets        
             
    Current assets        
    Cash and cash equivalents 98,714   70,538  
    Marketable securities 72,994   86,372  
    Short-term bank deposits 104,073   173,678  
    Trade receivables, net 16,823   20,267  
    Other receivables and prepaid expenses 14,242   9,529  
    Inventories 14,030   15,544  
      320,876   375,928  
             
    Long-term investments        
    Marketable securities 29,523   33,131  
    Long-term bank deposits 114,354   –  
    Other assets 2,171   2,166  
      146,048   35,297  
             
             
    Property and equipment, net 15,632   18,221  
    Intangible assets, net 11,750   15,718  
    Other long-term assets 37,906   37,967  
    Operating lease right-of-use assets 18,456   20,777  
    Goodwill 68,008   68,008  
    Total assets 618,676   571,916  
             
    Liabilities and equity        
             
    Current liabilities        
    Trade payables 5,581   4,298  
    Deferred revenues 106,303   105,012  
    Operating lease liabilities 4,750   4,684  
    Other payables and accrued expenses 51,836   41,021  
      168,470   155,015  
             
    Long-term liabilities        
    Deferred revenues 64,708   60,499  
    Operating lease liabilities 13,519   16,020  
    Other long-term liabilities 14,904   17,108  
      93,131   93,627  
             
    Equity        
    Radware Ltd. equity        
    Share capital 754   742  
    Additional paid-in capital 555,154   529,209  
    Accumulated other comprehensive income 1,103   77  
    Treasury stock, at cost (366,588)   (365,749)  
    Retained earnings 125,850   119,812  
    Total Radware Ltd. shareholder’s equity 316,273   284,091  
             
    Non–controlling interest 40,802   39,183  
             
    Total equity 357,075   323,274  
             
    Total liabilities and equity 618,676   571,916  
             
    Radware Ltd.
    Condensed Consolidated Statements of Income (Loss)
    (U.S Dollars in thousands, except share and per share data)
                     
        For the three months ended   For the twelve months ended
        December 31,   December 31,
        2024   2023   2024   2023
        (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)
                     
    Revenues   73,031   65,032     274,880     261,292  
    Cost of revenues   13,992   12,824     53,252     51,710  
    Gross profit   59,039   52,208     221,628     209,582  
                     
    Operating expenses, net:                
    Research and development, net   18,472   19,712     74,723     82,617  
    Selling and marketing   32,505   31,869     122,450     126,237  
    General and administrative   7,071   8,030     28,342     32,408  
    Total operating expenses, net   58,048   59,611     225,515     241,262  
                     
    Operating income (loss)   991   (7,403)     (3,887)     (31,680)  
    Financial income, net   3,570   3,239     16,552     13,927  
    Income (loss) before taxes on income   4,561   (4,164)     12,665     (17,753)  
    Taxes on income   2,109   1,686     6,627     3,837  
    Net income (loss)   2,452   (5,850)     6,038     (21,590)  
                     
       Basic net income (loss) per share attributed to Radware Ltd.’s shareholders   0.06   (0.14)     0.14     (0.50)  
                     
       Weighted average number of shares used to compute basic net income (loss) per share   42,238,469   41,806,042     41,982,851     42,871,770  
                     
       Diluted net income (loss) per share attributed to Radware Ltd.’s shareholders   0.06   (0.14)     0.14     (0.50)  
                     
       Weighted average number of shares used to compute diluted net income (loss) per share   43,725,803   41,806,042     43,362,906     42,871,770  
                           
      Radware Ltd.
      Reconciliation of GAAP to Non-GAAP Financial Information
      (U.S Dollars in thousands, except share and per share data)
                       
        For the three months ended   For the twelve months ended  
        December 31,   December 31,  
        2024   2023   2024   2023  
        (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)  
    GAAP gross profit 59,039   52,208   221,628   209,582  
      Share-based compensation 126   112   366   515  
      Amortization of intangible assets 992   992   3,968   3,968  
    Non-GAAP gross profit 60,157   53,312   225,962   214,065  
                       
    GAAP research and development, net 18,472   19,712   74,723   82,617  
      Share-based compensation 1,434   2,305   6,113   8,505  
    Non-GAAP Research and development, net 17,038   17,407   68,610   74,112  
                       
    GAAP selling and marketing 32,505   31,869   122,450   126,237  
      Share-based compensation 3,173   3,489   10,881   12,554  
      Restructuring costs –   578   –   1,851  
    Non-GAAP selling and marketing 29,332   27,802   111,569   111,832  
                       
    GAAP general and administrative 7,071   8,030   28,342   32,408  
      Share-based compensation 2,187   2,965   8,667   12,448  
      Acquisition costs 130   359   701   1,128  
    Non-GAAP general and administrative 4,754   4,706   18,974   18,832  
                       
    GAAP total operating expenses, net 58,048   59,611   225,515   241,262  
      Share-based compensation 6,794   8,759   25,661   33,507  
      Acquisition costs 130   359   701   1,128  
      Restructuring costs –   578   –   1,851  
    Non-GAAP total operating expenses, net 51,124   49,915   199,153   204,776  
                       
    GAAP operating income (loss) 991   (7,403)   (3,887)   (31,680)  
      Share-based compensation 6,920   8,871   26,027   34,022  
      Amortization of intangible assets 992   992   3,968   3,968  
      Acquisition costs 130   359   701   1,128  
      Restructuring costs –   578   –   1,851  
    Non-GAAP operating income 9,033   3,397   26,809   9,289  
                       
    GAAP financial income, net 3,570   3,239   16,552   13,927  
      Exchange rate differences, net on balance sheet items included in financial income, net 1,463   563   1,232   (207)  
    Non-GAAP financial income, net 5,033   3,802   17,784   13,720  
                       
    GAAP income (loss) before taxes on income 4,561   (4,164)   12,665   (17,753)  
      Share-based compensation 6,920   8,871   26,027   34,022  
      Amortization of intangible assets 992   992   3,968   3,968  
      Acquisition costs 130   359   701   1,128  
      Restructuring costs –   578   –   1,851  
      Exchange rate differences, net on balance sheet items included in financial income, net 1,463   563   1,232   (207)  
    Non-GAAP income before taxes on income 14,066   7,199   44,593   23,009  
                       
    GAAP taxes on income 2,109   1,686   6,627   3,837  
      Tax related adjustments 61   61   246   246  
    Non-GAAP taxes on income 2,170   1,747   6,873   4,083  
                       
    GAAP net income (loss) 2,452   (5,850)   6,038   (21,590)  
      Share-based compensation 6,920   8,871   26,027   34,022  
      Amortization of intangible assets 992   992   3,968   3,968  
      Acquisition costs 130   359   701   1,128  
      Restructuring costs –   578   –   1,851  
      Exchange rate differences, net on balance sheet items included in financial income, net 1,463   563   1,232   (207)  
      Tax related adjustments (61)   (61)   (246)   (246)  
    Non-GAAP net income 11,896   5,452   37,720   18,926  
                       
    GAAP diluted net income (loss) per share 0.06   (0.14)   0.14   (0.50)  
      Share-based compensation 0.16   0.21   0.60   0.78  
      Amortization of intangible assets 0.02   0.02   0.09   0.09  
      Acquisition costs 0.00   0.01   0.02   0.03  
      Restructuring costs 0.00   0.02   0.00   0.04  
      Exchange rate differences, net on balance sheet items included in financial income, net 0.03   0.01   0.03   0.00  
      Tax related adjustments (0.00)   (0.00)   (0.01)   (0.01)  
    Non-GAAP diluted net earnings per share 0.27   0.13   0.87   0.43  
                       
                       
    Weighted average number of shares used to compute non-GAAP diluted net earnings per share 43,725,803   42,462,751   43,362,906   43,655,555  
    Radware Ltd.
    Condensed Consolidated Statements of Cash Flow
    (U.S. Dollars in thousands)
                     
        For the three months ended   For the twelve months ended
        December 31,   December 31,
        2024   2023   2024   2023
        (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)
    Cash flow from operating activities:                
                     
    Net income (loss)   2,452   (5,850)   6,038   (21,590)
    Adjustments to reconcile net income (loss) to net cash provided by operating activities:                
    Depreciation and amortization   2,918   3,028   11,836   12,244
    Share-based compensation   6,920   8,871   26,027   34,022
    Amortization of premium, accretion of discounts and accrued interest on marketable securities, net   (190)   638   (417)   1,754
    Loss (income) related to securities, net   –   (1)   –   243
    Increase (decrease) in accrued interest on bank deposits   (1,279)   549   3,366   (3,265)
    Increase (decrease) in accrued severance pay, net   (151)   207   (45)   (299)
    Decrease (increase) in trade receivables, net   3,140   (7,895)   3,444   (2,515)
    Decrease (increase) in other receivables and prepaid expenses and other long-term assets   (1,252)   2,236   (97)   (305)
    Decrease (increase) in inventories   (487)   (2,550)   1,514   (4,116)
    Increase (decrease) in trade payables   (970)   (1,771)   1,283   (2,166)
    Increase (decrease) in deferred revenues   (4,829)   (3,856)   5,500   (14,951)
    Increase (decrease) in other payables and accrued expenses   6,222   9,383   13,274   (1,415)
    Operating lease liabilities, net   255   (336)   (114)   (1,141)
    Net cash provided by (used in) operating activities   12,749   2,653   71,609   (3,500)
                     
    Cash flows from investing activities:                
                     
    Purchase of property and equipment   (1,059)   (936)   (5,279)   (5,429)
    Proceeds from other long-term assets, net   41   (11)   81   66
    Proceeds from (investment in) bank deposits, net   (46,682)   29,686   (48,115)   81,031
    Investment in, redemption of and purchase of marketable securities ,net   23,249   16,764   18,793   17,111
    Investment in other deposits   (5,000)   –   (5,000)   –
    Net cash provided by (used in) investing activities   (29,451)   45,503   (39,520)   92,779
                     
    Cash flows from financing activities:                
                     
    Proceeds from exercise of share options   –   63   3   371
    Repurchase of shares   –   (10,103)   (839)   (63,234)
    Payment of contingent consideration related to acquisition   –   –   (3,077)   (2,063)
    Net cash used in financing activities   –   (10,040)   (3,913)   (64,926)
                     
    Increase (decrease) in cash and cash equivalents   (16,702)   38,116   28,176   24,353
    Cash and cash equivalents at the beginning of the period   115,416   32,422   70,538   46,185
    Cash and cash equivalents at the end of the period   98,714   70,538   98,714   70,538
                     
      Radware Ltd.
      RECONCILIATION OF GAAP NET INCOME (LOSS) TO EBITDA AND ADJUSTED EBITDA (NON-GAAP)
      (U.S Dollars in thousands)
                     
        For the three months ended   For the twelve months ended
        December 31,   December 31,
        2024   2023   2024   2023
        (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)
    GAAP net income (loss) 2,452   (5,850)   6,038   (21,590)
      Exclude: Financial income, net (3,570)   (3,239)   (16,552)   (13,927)
      Exclude: Depreciation and amortization expense 2,918   3,028   11,836   12,244
      Exclude: Taxes on income 2,109   1,686   6,627   3,837
    EBITDA 3,909   (4,375)   7,949   (19,436)
                     
      Share-based compensation 6,920   8,871   26,027   34,022
      Restructuring costs –   578   –   1,851
      Acquisition costs 130   359   701   1,128
    Adjusted EBITDA 10,959   5,433   34,677   17,565
                     
                     
        For the three months ended   For the twelve months ended
        December 31,   December 31,
        2024   2023   2024   2023
      Amortization of intangible assets 992   992   3,968   3,968
      Depreciation 1,926   2,036   7,868   8,276
        2,918   3,028   11,836   12,244
                     

    The MIL Network –

    February 13, 2025
  • MIL-OSI: CLEAR To Announce Fourth Quarter and Full Year 2024 Earnings

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 12, 2025 (GLOBE NEWSWIRE) — Clear Secure, Inc. (NYSE: YOU), the secure identity company, today announced that it will report financial results for the fourth quarter and full year ending December 31, 2024 at approximately 6:00 a.m. ET on Wednesday, February 26, 2025. At 8:00 a.m. ET, results will be discussed via live webcast and teleconference.

    Investors and analysts can access the live teleconference call by dialing toll-free 877-407-3089 for U.S. participants and +1-215-268-9854 for international participants. Listeners can access the live webcast HERE. A webcast replay will be available after the event on the investor relations website at https://ir.clearme.com.

    About CLEAR
    CLEAR’s mission is to create frictionless experiences. With over 27 million Members and a growing network of partners across the world, CLEAR’s identity platform is transforming the way people live, work, and travel. Whether you are traveling, at the stadium, or on your phone, CLEAR connects you to the things that make you, you – making everyday experiences easier, more secure, and friction-free. CLEAR is committed to privacy done right. Members are always in control of their own information, and we never sell member data. For more information, visit clearme.com.

    Media Contact
    CLEAR
    media@clearme.com

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –

    February 13, 2025
  • MIL-OSI: Patria Reports Fourth Quarter & Full Year 2024 Earnings Results

    Source: GlobeNewswire (MIL-OSI)

    GRAND CAYMAN, Cayman Islands, Feb. 12, 2025 (GLOBE NEWSWIRE) — Patria (Nasdaq:PAX) reported today its unaudited results for the fourth quarter and full year ended December 31, 2024. The full detailed presentation of Patria’s fourth quarter and full year 2024 results can be accessed on the Shareholders section of Patria’s website at https://ir.patria.com/.

    Alex Saigh, Patria’s CEO, said: “The fourth quarter capped a very exciting and transformational year for Patria. We raised $5.5 billion in 2024, inclusive of $300 million in our Advisory business, exceeding our $5 billion target. A wide variety of strategies and products, most of which did not exist at the time of our IPO four years ago, contributed to our fundraising. Our Fee Earning AUM reached $33 billion representing year-over-year growth of 38%, and we achieved our target FRE of $170 million for the full year, reflecting 15% year-over-year growth. Also, we generated Performance Related Earnings, or PRE, of $41 million, primarily reflecting the sale of Aguas Pacifico, a highly successful infrastructure investment in our Infrastructure Fund III. Overall, driven by strong FRE growth and PRE, we delivered $89 million of Distributable Earnings or $0.58 per share in the quarter and $189 million or $1.24 per share for the full year. As we look ahead to 2025, we believe we are well positioned to generate the $6 billion of fundraising and $200 to $225 million of FRE we are targeting for the full year. Our success highlights how the increased diversification of our platform and the investments we are making in distribution and new product development are translating into stronger and more diverse growth for the firm, leaving us very excited about what lies ahead.”

    Financial Highlights (reported in $ USD)

    IFRS results included $56.8 million of net income attributable to Patria in Q4 2024 and $73.4 million for the full year. Patria generated Fee Related Earnings of $54.8 million in Q4 2024, up 18% from $46.7 million in Q4 2023, with an FRE margin of 59%. For the full year 2024, Patria generated Fee Related Earnings of $170.1 million, up 15% from $147.7 million in 2023, with an FRE margin of 57%. Distributable Earnings were $89.1 million for Q4 2024, or $0.58 per share, and $189.2 million for the full year, or $1.24 per share.

    Dividends

    Patria declared a quarterly dividend of $0.15 per share to record holders of common stock at the close of business on February 28th, 2025. This dividend will be paid on March 17th, 2024.

    Conference Call

    Patria will host its fourth quarter and full year 2024 earnings conference call via public webcast on February 12th, 2025, at 9:00 a.m. ET. To register and join, please use the following link:

    https://edge.media-server.com/mmc/p/e5czewmy/

    For those unable to listen to the live broadcast, there will be a webcast replay on the Shareholders section of Patria’s website at https://ir.patria.com/ shortly after the call’s completion.

    About Patria

    Patria is a global alternative asset manager and industry leader in Latin America. Founded over 35 years ago, Patria has total assets under management of $41.9 billion, and offices in 13 cities on 4 continents. Patria aims to generate attractive long-term investment returns and, through a diversified platform with strategies that include Private Equity, Infrastructure, Credit, Real Estate, Public Equities and Global Private Markets Solutions, serve as the gateway to alternative investments for both local investors in Latin America, as well as global investors. Further information is available at www.patria.com.

    Forward-Looking Statements

    This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You can identify these forward-looking statements by the use of words such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “could,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words, among others. Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding our intent, belief or current expectations. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Further information on these and other factors that could affect our financial results is included in filings we have made and will make with the U.S. Securities and Exchange Commission from time to time, including but not limited to those described under the section entitled “Risk Factors” in our most recent annual report on Form 20-F, as such factors may be updated from time to time in our periodic filings with the United States Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in our periodic filings.

    Contact

    Patria Shareholder Relations
    E. PatriaShareholderRelations@patria.com
    T. +1 917 769 1611

    The MIL Network –

    February 13, 2025
←Previous Page
1 … 1,524 1,525 1,526 1,527 1,528 … 2,041
Next Page→
NewzIntel.com

NewzIntel.com

MIL Open Source Intelligence

  • Blog
  • About
  • FAQs
  • Authors
  • Events
  • Shop
  • Patterns
  • Themes

Twenty Twenty-Five

Designed with WordPress