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Category: Business

  • MIL-OSI: Flow Capital Announces a US$5.0 Million Investment in Congruity 360

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — Flow Capital Corp. (TSXV:FW) (“Flow Capital” or the “Company”) is pleased to announce the successful closing of a US$5.0 million senior note investment in Congruity 360, a leading provider of unstructured data management and risk mitigation solutions.

    Congruity 360’s Classify360 platform equips organizations with critical capabilities to understand, manage, and secure petabyte-scale unstructured data across cloud, SaaS, and on-premises environments. Its capabilities include data discovery and classification, identification of governance and compliance vulnerabilities, and automated workflows for remediation and infrastructure optimization.

    Already trusted by Fortune 500 companies operating across the globe, Congruity 360 will use the capital to fuel continued product innovation and growth.

    “The unstructured data management and classification market is thriving! We were impressed by Congruity 360’s market and product momentum, particularly its automated governance workflow and the introduction of AI into the classification process,” said Alex Baluta, CEO of Flow Capital. “Given its high growth rate, Flow’s covenant-light, founder-friendly capital was a perfect fit for Congruity 360’s needs.”

    “2025’s wins have accelerated our product and GTM plans! We are excited to partner with Flow Capital,” said Brian Davidson, CEO of Congruity 360.

    Technology companies seeking flexible growth capital are invited to apply for funding directly at www.flowcap.com/get-funding.

    About Congruity 360

    Congruity 360 delivers the only data management solution built on a foundation of classification, by experts in data storage and data privacy. The Classify360 platform is easy to implement, requires no outside consultants, and quickly analyzes and remediates your data at a petabyte scale in days, not weeks or months.

    About Flow Capital 

    Flow Capital Corp. is a publicly listed provider of flexible growth capital and alternative debt solutions dedicated to supporting high-growth companies. Since its inception in 2018, the company has provided financing to businesses in the US, the UK, and Canada, helping them achieve accelerated growth without the dilutive impact of equity financing or the complexities of traditional bank loans. Flow Capital focuses on revenue-generating, VC-backed, and founder-owned companies seeking $2 to $10 million in capital to drive their continued expansion.

    Learn more at www.flowcap.com.

    For further information, please contact:

    Flow Capital Corp.

    Alex Baluta
    ‎Chief Executive Officer
    ‎alex@flowcap.com

    47 Colborne Street, Suite 303,
    ‎Toronto, Ontario M5E 1P8

    Forward-Looking Information and Statements

    Certain statements herein may be “forward-looking” statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Flow or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the date hereof and Flow assumes no obligation, except as required by law, to update any forward-looking statements to reflect new events or circumstances.

    The MIL Network –

  • MIL-OSI: Canadian Life Companies Split Corp. Announces TSX Acceptance of Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — Canadian Life Companies Split Corp. (the “Company”) announced today that the Toronto Stock Exchange (the “TSX”) has accepted its notice of intention to make a Normal Course Issuer Bid (the “NCIB”) to purchase its Preferred Shares and Class A Shares through the facilities of the TSX and/or alternative Canadian trading systems. The NCIB will commence on June 2, 2025 and terminate on June 1, 2026.

    Pursuant to the NCIB, the Company proposes to purchase, from time to time, if it is considered advisable, up to 1,090,320 Preferred Shares and 1,012,451 Class A Shares of the Company, representing 10% of the public float of 10,903,202 Preferred Shares and 10,124,519 Class A Shares. As of May 21, 2025, there were 10,985,202 Preferred Shares and 10,662,478 Class A Shares issued and outstanding. The Company will not purchase, in any given 30-day period, in the aggregate, more than 219,704 Preferred Shares or more than 213,249 Class A Shares, being 2% of the issued and outstanding Preferred Shares and Class A Shares as of May 21, 2025. Under the previous normal course issuer bid that commenced on May 29, 2024 and terminated on May 28, 2025, no Preferred Shares or Class A Shares were purchased.

    The Board of Directors of the Company, on the advice of Quadravest Capital Management Inc., the Company’s investment manager, believes that such purchases are in the best interests of the Company and are a desirable use of its funds. All purchases will be made through the facilities and in accordance with the rules and policies of the TSX. All Preferred Shares or Class A Shares purchased by the Company pursuant to the NCIB will be cancelled.

    The Company invests in a portfolio of four publicly traded Canadian life insurance companies as follows: Great‐West Lifeco Inc., Industrial Alliance Insurance & Financial Services Inc., Manulife Financial Corporation and Sun Life Financial Inc.

    Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Company’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

    Investor Relations: 1-877-478-2372 Local: 416-304-4443 www.lifesplit.com info@quadravest.com

    The MIL Network –

  • MIL-OSI: Canadian Banc Corp. Announces TSX Acceptance of Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — Canadian Banc Corp. (the “Company”) announced today that the Toronto Stock Exchange (the “TSX”) has accepted its notice of intention to make a Normal Course Issuer Bid (the “NCIB”) to purchase its Preferred Shares and Class A Shares through the facilities of the TSX and/or alternative Canadian trading systems. The NCIB will commence on June 2, 2025 and terminate on June 1, 2026.

    Pursuant to the NCIB, the Company proposes to purchase, from time to time, if it is considered advisable, up to 3,742,582 Preferred Shares and 3,778,760 Class A Shares of the Company, representing 10% of the public float of 37,425,824 Preferred Shares and 37,787,604 Class A Shares. As of May 21, 2025, there were 37,448,395 Preferred Shares and 37,821,364 Class A Shares issued and outstanding. The Company will not purchase, in any given 30-day period, in the aggregate, more than 748,967 Preferred Shares or more than 756,427 Class A Shares, being 2% of the issued and outstanding Preferred Shares and Class A Shares as of May 21, 2025. Under the previous normal course issuer bid that commenced on May 29, 2024 and terminated on May 28, 2025, no purchases of Preferred Shares or Class A Shares were made.

    The Board of Directors of the Company, on the advice of Quadravest Capital Management Inc., the Company’s investment manager, believes that such purchases are in the best interests of the Company and are a desirable use of its funds. All purchases will be made through the facilities and in accordance with the rules and policies of the TSX. All Preferred Shares or Class A Shares purchased by the Company pursuant to the NCIB will be cancelled.

    The Company invests in a portfolio of six publicly traded Canadian Banks as follows:

    Bank of Montreal Canadian Imperial Bank of Commerce Royal Bank of Canada
    The Bank of Nova Scotia National Bank of Canada The Toronto-Dominion Bank


    Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Company’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

    Investor Relations:  1-877-478-2372
    Local:  416-304-4443
    www.canadianbanc.com
    info@quadravest.com

    The MIL Network –

  • MIL-OSI: Dividend 15 Split Corp. II Announces TSX Acceptance of Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — Dividend 15 Split Corp. II (the “Company”) announced today that the Toronto Stock Exchange (the “TSX”) has accepted its notice of intention to make a Normal Course Issuer Bid (the “NCIB”) to purchase its Preferred Shares and Class A Shares through the facilities of the TSX and/or alternative Canadian trading systems. The NCIB will commence on June 2, 2025 and terminate on June 1, 2026.

    Pursuant to the NCIB, the Company proposes to purchase, from time to time, if it is considered advisable, up to 2,242,527 Preferred Shares and 2,234,759 Class A Shares of the Company, representing 10% of the public float of 22,425,275 Preferred Shares and 22,347,591 Class A Shares. As of May 21, 2025, there were 22,425,275 Preferred Shares and 22,433,891 Class A Shares issued and outstanding. The Company will not purchase, in any given 30-day period, in the aggregate, more than 448,505 Preferred Shares or more than 448,677 Class A Shares, being 2% of the issued and outstanding Preferred Shares and Class A Shares as of May 21, 2025. Under the previous normal course issuer bid that commenced on May 29, 2024 and terminated on May 28, 2025 no Preferred Shares or Class A Shares were purchased.

    The Board of Directors of the Company, on the advice of Quadravest Capital Management Inc., the Company’s investment manager, believes that such purchases are in the best interests of the Company and are a desirable use of its funds. All purchases will be made through the facilities and in accordance with the rules and policies of the TSX. All Preferred Shares or Class A Shares purchased by the Company pursuant to the NCIB will be cancelled.

    The Company invests in a high quality portfolio of leading Canadian dividend-yielding stocks as follows: Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, CI Financial Corp., BCE Inc., Manulife Financial, Enbridge, Sun Life Financial, TELUS Corporation, Thomson Reuters Corporation, TransAlta Corporation, TC Energy Corporation.

    Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Company’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

    The MIL Network –

  • MIL-OSI: North American Financial 15 Split Corp. Announces TSX Acceptance of Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — North American Financial 15 Split Corp. (the “Company”) announced today that the Toronto Stock Exchange (the “TSX”) has accepted its notice of intention to make a Normal Course Issuer Bid (the “NCIB”) to purchase its Preferred Shares and Class A Shares through the facilities of the TSX and/or alternative Canadian trading systems. The NCIB will commence on June 2, 2025 and terminate on June 1, 2026.

    Pursuant to the NCIB, the Company proposes to purchase, from time to time, if it is considered advisable, up to 5,738,811 Preferred Shares and 5,865,279 Class A Shares of the Company, representing 10% of the public float of 57,388,118 Preferred Shares and 58,652,794 Class A Shares. As of May 21, 2025, there were 57,388,618 Preferred Shares and 58,724,984 Class A Shares issued and outstanding. The Company will not purchase, in any given 30-day period, in the aggregate, more than 1,147,772 Preferred Shares or more than 1,174,499 Class A Shares, being 2% of the issued and outstanding Preferred Shares and Class A Shares as of May 21, 2025. Under the previous normal course issuer bid that commenced on May 29, 2025 and terminated on May 28, 2025 no Preferred Shares or Class A Shares were purchased.

    The Board of Directors of the Company, on the advice of Quadravest Capital Management Inc., the Company’s investment manager, believes that such purchases are in the best interests of the Company and are a desirable use of its funds. All purchases will be made through the facilities and in accordance with the rules and policies of the TSX. All Preferred Shares or Class A Shares purchased by the Company pursuant to the NCIB will be cancelled.

    The Company invests in a high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers as follows: Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, Manulife Financial Corporation, Sun Life Financial, Great-West Lifeco, CI Financial Corp, Bank of America, Citigroup Inc., Goldman Sachs Group, JP Morgan Chase & Co. and Wells Fargo & Co.

    Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Company’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

    Investor Relations: 1-877-478-2372 Local: 416-304-4443 www.financial15.com info@quadravest.com

    The MIL Network –

  • MIL-OSI: BOS Reports Record $15 Million in Revenues for the First Quarter of 2025

    Source: GlobeNewswire (MIL-OSI)

    RISHON LE ZION, Israel, May 29, 2025 (GLOBE NEWSWIRE) — BOS Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ: BOSC) reported its financial results for the first quarter of the year 2025.

    First Quarter 2025 Financial Highlights:

    • Revenues increased by 33.1% to $15.0 million from $11.3 million in the first quarter of the year 2024;
    • Gross profit margin improved to 23.9% compared to 22.7% in the first quarter of the year 2024;
    • EBITDA increased by 86.2% to $1.9 million compared to $1.0 million in the first quarter of the year 2024;
    • Operating expenses increased by only 7.7% compared to the 33.1% increase in revenues, demonstrating operating leverage;
    • Net income increased by 82.3% to $1.35 million or $0.23 per basic share compared to $741,000 or $0.13 per basic share in the first quarter of the year 2024;
    • Backlog was $22 million as of March 31, 2025 compared to $27 million as of December 31, 2024.

    Eyal Cohen, Chief Executive Officer at BOS, stated: “I am pleased to report record revenues and record net income in the first quarter, demonstrating the success of our strategic focus on the defense sector and diligent operating efficiency. We continue to capitalize on the growing opportunities in this rapidly changing sector by increasing contracting activity with existing customers and securing new customers.”

    “Based on our first quarter performance and contracted backlog, we are optimistic about surpassing our full-year outlook for 2025, which are revenues of $44 million and net income of $2.5 million,” Cohen concluded.

    “Our record results in the first quarter reflect BOS’s long-term investments in developing a diverse product offering and establishing a robust operational and financial framework, all of which are specifically designed to meet the evolving and distinct demands of the defense industry,” said Avidan Zelicovsky, BOS President.

    BOS will host a video conference meeting on May 29, 2024 at 8:30 a.m. EDT. A question-and-answer session will follow management’s presentation. To access the video conference meeting, please click on the following link: https://us06web.zoom.us/j/83920447982?pwd=nxng3dstyBqK9argz8YQSsH9Cx4VkE.1

    For those unable to participate in the video conference, a recording of the meeting will be available the next day on the BOS website: www.boscom.com

    About BOS

    BOS integrates cutting-edge technologies to streamline and enhance supply chain operations for global customers in the aerospace, defense, industrial and retail sectors. The Company integrates three specialized divisions:

    – Intelligent Robotics Division: Automates industrial and logistics inventory processes through advanced robotics technologies, improving efficiency and precision.

    – RFID Division: Optimizes inventory management with state-of-the-art solutions for marking and tracking, ensuring real-time visibility and control.

    – Supply Chain Division: Integrates franchised components directly into customer products, meeting their evolving needs for developing innovative solutions.

    For more information on BOS Better Online Solutions Ltd., visit www.boscom.com.

    For additional information, contact:

    Matt Kreps, Managing Director
    Darrow Associates
    +1-214-597-8200
    mkreps@darrowir.com

    Eyal Cohen, CEO
    +972-542525925
    eyalc@boscom.com

    Use of Non-GAAP Financial Information
    BOS reports financial results in accordance with US GAAP and herein provides some non-GAAP measures. These non-GAAP measures are not in accordance with, nor are they a substitute for, GAAP measures. These non-GAAP measures are intended to supplement the Company’s presentation of its financial results that are prepared in accordance with GAAP. The Company uses the non-GAAP measures presented to evaluate and manage the Company’s operations internally. The Company is also providing this information to assist investors in performing additional financial analysis that is consistent with financial models developed by research analysts who follow the Company. The reconciliation set forth below is provided in accordance with Regulation G and reconciles the non-GAAP financial measures with the most directly comparable GAAP financial measures.

    Safe Harbor Regarding Forward-Looking Statements

    The forward-looking statements contained herein reflect management’s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS. These risk factors and uncertainties include, amongst others, the dependency of sales being generated from one or few major customers, the uncertainty of BOS being able to maintain current gross profit margins, inability to keep up or ahead of technology and to succeed in a highly competitive industry, inability to maintain marketing and distribution arrangements and to expand our overseas markets, uncertainty with respect to the prospects of legal claims against BOS, the effect of exchange rate fluctuations, general worldwide economic conditions, the effect of the war against the Hamas and other parties in the region, the continued availability of financing for working capital purposes and to refinance outstanding indebtedness; and additional risks and uncertainties detailed in BOS’ periodic reports and registration statements filed with the US Securities and Exchange Commission. BOS undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

     
    CONSOLIDATED STATEMENTS OF OPERATIONS
    U.S. dollars in thousands
     
        Three months ended
    March 31,    		       Year ended
    December 31, 
          2025       2024         2024  
          (Unaudited)         (Unaudited)           (Audited)  
               
    Revenues   $ 15,026     $ 11,287       $ 39,949  
    Cost of revenues     11,437       8,727         30,655  
    Gross profit     3,589       2,560         9,294  
    Operating costs and expenses:              
    Research and development     41       44         175  
    Sales and marketing     1,263       1,162         4,394  
    General and administrative     542       508         2,113  
    Impairment of intangible assets and Goodwill     –       –         1,173  
    Total operating costs and expenses     1,846       1,714         7,855  
                   
    Operating income     1,743       846         1,439  
    Financial expenses, net     (272 )     (105 )       (139 )
    Income before taxes on income     1,471       741         1,300  
    Income taxes benefits (expenses)     (120 )     –         1,000  
    Net income   $ 1,351     $ 741       $ 2,300  
                   
    Basic net income per share   $ 0.23     $ 0.13       $ 0.40  
    Diluted net income per share   $ 0.22     $ 0.13       $ 0.39  
    Weighted average number of shares used in computing basic net income per share     5,900       5,748         5,756  
    Weighted average number of shares used in computing diluted net income per share     6,273       5,828         5,887  
                   
    Number of outstanding shares as of March 31, 2025 and 2024 and December 31, 2024     5,924       5,748         5,793  
     
    CONSOLIDATED BALANCE SHEETS
    (U.S. dollars in thousands)
     
        March 31, 2025 
    		   December 31, 2024  
        (Unaudited)   (Audited)
    		  
    ASSETS              
                   
    CURRENT ASSETS:              
    Cash and cash equivalents   $ 3,844     $ 3,368  
    Restricted bank deposits     66       185  
    Trade receivables, net     15,839       11,787  
    Other accounts receivable and prepaid expenses     1,235       1,150  
    Inventories     7,505       7,870  
               
    Total current assets     28,489       24,360  
               
    LONG-TERM ASSETS     167       177  
               
    PROPERTY AND EQUIPMENT, NET     3,362       3,417  
               
    OPERATING LEASE RIGHT-OF-USE ASSETS, NET     727       779  
               
    DEFERRED TAX ASSETS     981       1,000  
               
    OTHER INTANGIBLE ASSETS, NET     407       422  
               
    GOODWILL     4,188       4,188  
               
    Total assets   $ 38,321     $ 34,343  
     
    CONSOLIDATED BALANCE SHEETS
    (U.S. dollars in thousands)
     
        March 31, 2025   December 31, 2024
        (Unaudited)   (Audited)
             
    LIABILITIES AND SHAREHOLDERS’ EQUITY        
             
    CURRENT LIABILITIES:        
    Current maturities of long-term loans   $ 342     $ 439  
    Operating lease liabilities, current     161       176  
    Trade payables     7, 769       6,362  
    Employees and payroll accruals     1,128       1,087  
    Deferred revenues     2,543       2,003  
    Accrued expenses and other liabilities     1,091       598  
             
    Total current liabilities     13,034       10,665  
             
    LONG-TERM LIABILITIES:        
    Long-term loans, net of current maturities     921       980  
    Operating lease liabilities, non-current     530       576  
    Long-term deferred revenues     273       293  
    Accrued severance pay, net     514       498  
             
    Total long-term liabilities     2,238       2,347  
             
             
    TOTAL SHAREHOLDERS’ EQUITY     23,049       21,331  
             
             
    Total liabilities and shareholders’ equity   $ 38, 321     $ 34,343  
     
    CONDENSED CONSOLIDATED EBITDA
    (U.S. dollars in thousands)
     
        Three months ended
    March 31,    		   Year ended
    December 31,
          2025       2024       2024  
                 
    Operating income   $ 1,743     $ 846     $ 1,439  
    Add:            
    Impairment of Goodwill and other intangible assets         –       1,173  
    Amortization of intangible assets     15       47       190  
    Stock-based compensation     9       21       74  
    Depreciation     101       89       370  
    EBITDA   $ 1,868     $ 1,003     $ 3,246  
     
    SEGMENT INFORMATION
    (U.S. dollars in thousands)

     

     

    RFID

     

    Supply
    Chain Solutions

     

    Intelligent
    Robotics

     

    Intercompany

     

    Consolidated

     

     

     

     

    		      

    Three months ended March 31, 2025

     

     

     

     

     

     

     

     

     

     

     

    Revenues

     

    $

    3,259

     

    $

      11,390

     

    		  

    496

     

    (119

    )

     

    $

     15,026

    		  

     

     

     

     

     

     

     

     

     

     

     

    Gross profit  

     

    		  

    707

     

    		  

    2,756

     

    		  

    126

     

     –

    		  

     

    		  

    3,589

    		  

     

     

     

     

     

     

     

     

     

     

     

    Allocated operating expenses

     

    		  

     529

     

    		  

    1,048

     

    		  

    68

     

     –

    		  

     

    		  

    1,645

    		  

     

     

     

     

     

     

     

     

     

     

     

    Unallocated operating expenses*

     

     

     

    		  

    –

     

    		  

    –

     

     

     

    		  

    201

    		  

     

     

     

     

     

     

     

     

     

     

     

    Income from operations

     

    $

         178

     

    $

        1,708

     

    $

            58

     

     

     

    		  

    1,743

    		  

     

     

     

     

     

     

     

     

     

     

     

    Financial expenses and tax on income

     

     

     

     

     

     

     

     

     

    		  

    (392

    )

     

     

     

     

     

     

     

     

     

     

     

    Net income

     

     

     

     

     

     

     

     

     

    $

             1,351

    		  

     

    		  

    RFID

    		  

    Supply
    Chain Solutions

    		  

    Intelligent
    Robotics

     

    Intercompany

     

    Consolidated

     

     

    		      

    Three months ended March 31, 2024

     

     

     

     

     

     

     

     

     

     

    Revenues

     

    $

    3,683

     

    $

        7,356

     

    250

     

    		  

    (2

    )

     

    $

          11,287

    		  

     

     

     

     

     

     

     

     

     

     

     

    Gross profit 

     

    		  

    992

     

    		  

    1,484

     

    84

     

    		  

                 –

     

    		  

    2,560

    		  

     

     

     

     

     

     

     

     

     

     

     

    Allocated operating expenses

     

    		  

     565

     

    		  

    909

     

            62

     

    		  

                 –

     

    		  

    1,536

    		  

     

     

     

     

     

     

     

     

     

     

     

    Unallocated operating expenses*

    		  

    –

    		    

    –

    		  

    –

     

     

     

    		    

    178

    		  

    Income  from operations

    		  

    $

         427

    		  

    $

           575

    $

            22

     

     

     

    		    

    846

    		  

     

     

     

     

     

     

     

     

     

     

     

    Financial expenses and tax on income  

     

     

     

     

     

     

     

    		  

    (105

    )

     

     

     

     

     

     

     

     

     

     

    Net income

     

     

     

     

     

     

     

    $

               741

    		  

     

     

     

     

     

     

     

     

     

     
    SEGMENT INFORMATION
    (U.S. dollars in thousands)
     
         

    RFID

    		  

    Supply Chain Solutions

    		  

    Intelligent
    Robotics

    		  

    Intercompany

    		  

    Consolidated
             

    Year ended December 31, 2024

    		  
                             
                             

    Revenues

    		    

    $

     12,877

    		  

    $

     25,829

    		    

    1,410

    		  

    (167

    )

    		  

    $

      39,949

    		  
                             

    Gross profit

    		      

     3,533

    		    

      5,430

    		    

                                 331

    		      

    9,294

    		  
                             
                             

    Allocated operating expenses

    		      

      2,273

    		    

     3,338

    		    

     274

    		      

      5,885

    		  
                             

    Impairment of goodwill and intangible assets

    		      

     984

    		    

    189

    		    

    –

    		      

    1,173

    		  
                             

    Unallocated operating expenses*

    		      

    –

    		    

    –

    		    

    –

    		        

     797

    		  
                             

    Income from operations

    		    

    $

      276

    		  

    $

     1,903

    		  

    $

      57

    		        

    1,439

    		  
                             

    Financial expenses and tax benefit

    		                      

    861

    		  
                             

    Net income

    		                    

    $

     2,300

    		  

    *Unallocated operating expenses include costs not specific to a particular segment but general to the entire group, such as expenses incurred for insurance of directors and officers, public company fees, legal fees, and other similar corporate costs.

    The MIL Network –

  • MIL-OSI: Financial 15 Split Corp. Announces TSX Acceptance of Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — Financial 15 Split Corp. (the “Company”) announced today that the Toronto Stock Exchange (the “TSX”) has accepted its notice of intention to make a Normal Course Issuer Bid (the “NCIB”) to purchase its Preferred Shares and Class A Shares through the facilities of the TSX and/or alternative Canadian trading systems. The NCIB will commence on June 2, 2025 and terminate on June 1, 2026.

    Pursuant to the NCIB, the Company proposes to purchase, from time to time, if it is considered advisable, up to 6,054,449 Preferred Shares and 6,196,492 Class A Shares of the Company, representing 10% of the public float of 60,544,490 Preferred Shares and 61,964,925 Class A Shares. As of May 21, 2025, there were 60,567,417 Preferred Shares and 61,968,317 Class A Shares issued and outstanding. The Company will not purchase, in any given 30-day period, in the aggregate, more than 1,211,348 Preferred Shares or more than 1,239,366 Class A Shares, being 2% of the issued and outstanding Preferred Shares and Class A Shares as of May 21, 2025. Under the previous normal course issuer bid that commenced on May 29, 2024 and terminated on May 28, 2025 no Preferred Shares were purchased and 8,300 Class A Share purchases were made.

    The Board of Directors of the Company, on the advice of Quadravest Capital Management Inc., the Company’s investment manager, believes that such purchases are in the best interests of the Company and are a desirable use of its funds. All purchases will be made through the facilities and in accordance with the rules and policies of the TSX. All Preferred Shares or Class A Shares purchased by the Company pursuant to the NCIB will be cancelled.

    The Company invests in a high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers as follows: Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, Manulife Financial Corporation, Sun Life Financial, Great-West Lifeco, CI Financial Corp, Bank of America, Citigroup Inc., Goldman Sachs Group, JP Morgan Chase & Co. and Wells Fargo & Co.

    Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Company’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

    The MIL Network –

  • MIL-OSI: Dividend 15 Split Corp. Announces TSX Acceptance of Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — Dividend 15 Split Corp. (the “Company”) announced today that the Toronto Stock Exchange (the “TSX”) has accepted its notice of intention to make a Normal Course Issuer Bid (the “NCIB”) to purchase its Preferred Shares and Class A Shares through the facilities of the TSX and/or alternative Canadian trading systems. The NCIB will commence on June 2, 2025 and terminate on June 1, 2026.

    Pursuant to the NCIB, the Company proposes to purchase, from time to time, if it is considered advisable, up to 12,687,975 Preferred Shares and 13,219,443 Class A Shares of the Company, representing 10% of the public float of 126,879,752 Preferred Shares and 132,194,435 Class A Shares. As of May 21, 2025, there were 127,069,383 Preferred Shares and 132,275,624 Class A Shares issued and outstanding. The Company will not purchase, in any given 30-day period, in the aggregate, more than 2,541,387 Preferred Shares or more than 2,645,512 Class A Shares, being 2% of the issued and outstanding Preferred Shares and Class A Shares as of May 21, 2025. Under the previous normal course issuer bid that commenced on May 29, 2024 and terminated on May 28, 2025, no Preferred Shares or Class A Shares were purchased.

    The Board of Directors of the Company, on the advice of Quadravest Capital Management Inc., the Company’s investment manager, believes that such purchases are in the best interests of the Company and are a desirable use of its funds. All purchases will be made through the facilities and in accordance with the rules and policies of the TSX. All Preferred Shares or Class A Shares purchased by the Company pursuant to the NCIB will be cancelled.

    The Company invests in a high quality portfolio of leading Canadian dividend-yielding stocks as follows: Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, CI Financial Corp., BCE Inc., Manulife Financial, Enbridge, Sun Life Financial, TELUS Corporation, Thomson Reuters Corporation, TransAlta Corporation, TC Energy Corporation.

    Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Company’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

    Investor Relations: 1-877-478-2372 Local: 416-304-4443 www.dividend15.com info@quadravest.com

    The MIL Network –

  • MIL-OSI: Alarum Technologies Announces First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    Q1 2025 highlighted the growing traction of the company’s data collection solutions with leading AI and eCommerce players worldwide

    Company strategically accelerated investments in scalable infrastructure and next-gen technologies to meet the rising demand for AI-ready data and to future-proof its position among top-tier global companies

    First quarter 2025 revenue reached $7.1 million, in line with guidance, net profit was at $0.4 million and adjusted EBITDA exceeded guidance, reaching $1.3 million Cash and debt investments balance at quarter-end amounted to $24 million

    TEL AVIV, Israel, May 29, 2025 (GLOBE NEWSWIRE) — Alarum Technologies Ltd. (Nasdaq, TASE: ALAR) (“Alarum” or the “Company”), a global provider of web data collection solutions, today announced financial results for the three-month period ended March 31, 2025.

    “2025 began with strong momentum, as demand for scalable, high-quality data continues to accelerate, driven by the rapid growth of AI technologies and eCommerce platforms,” said Shachar Daniel, Chief Executive Officer of Alarum.

    “During the quarter, several of the world’s leading AI and eCommerce companies significantly expanded their usage of our platform, relying on our advanced proxy infrastructure, innovative data collector, and Website Unblocker, to power data collection, model training, and real-time access to public web data.”

    “In line with our long-term vision, we made a deliberate decision to increase investments in our infrastructure and products, aiming to meet the growing global demand for large-scale data solutions. While this impacted our gross margin, it reinforces our position as a foundational player in the AI data ecosystem,” Mr. Daniel added.

    “With discipline and vision, we are building the backbone of data access for the AI era. Our technology and collaborations with customers uniquely position us to deliver long-term value for our stakeholders as the market continues to evolve,” Mr. Daniel concluded.

    Market Trends, Recent Developments and Business Highlights

    • Expanded strategic partnerships with major AI and eCommerce players during the first quarter: Notable new collaborations include a top Asian marketplace, a global electronics brand, and a European AI firm, for large-scale data labeling and model fine-tuning with fresh public data.
    • Redefining industry trends and market dynamics: A new market is emerging around high-quality, scalable data infrastructure. As AI models require constant training and fine-tuning, Alarum is positioned to play a key role in shaping this space and powering the global AI transformation.
    • Advancing and investing in long-term strategy, supported by strong financials: Alarum continues to pursue its strategic decision to reinvest earnings into innovative products, scaling operations, expanding infrastructure, and strengthening its IP network. This positions the Company to meet rising demand from AI-driven customers and capture long-term value, while maintaining operational efficiency during this pivotal growth phase.
    • Powering data collection with Alarum’s enhanced offerings portfolio: Tech giants and startups rely on Alarum’s data collector, Website Unblocker, and proxy network to overcome data access barriers.
    • Entering 2025 with a strong momentum: NetNut Net Retention Rate (“NRR”)1 reached 1.13 as of March 31, 2025, in yet another consecutive quarter of achieving an NRR well above 1. With its data collection offering, the Company is well-positioned amid a shifting landscape, and early results from its strategic investments and pipeline visibility support the positive outlook for the second quarter of 2025.

    ______________________

    1 See definition under “Other Metrics”.

    Summary of Financial Results2
    (in millions of U.S. dollars, rounded, except per share amounts and margins)
        For the
    Three Months Ended
    March 31,    		   For the
    Year Ended
    December 31,
        2025   2024   2024
        (Unaudited)   (Unaudited)   (Audited)
                 
    Total Revenue   7.1   8.4   31.8
    of which, Web Data Collection Revenue was   7.0   8.1   30.9
    Gross profit   4.8   6.6   23.9
    Gross margin (in percentage)   67.5%   78.5%   75.1%
    Non-IFRS gross margin (in percentage)   69.4%   80.4%   77.0%
    Total operating expenses   4.5   4.0   17.2
    Financial income (expense), net   0.2   (0.9)   0.3
    Tax expense   0.1   0.3   1.2
    Net profit   0.4   1.4   5.8
    Adjusted EBITDA   1.3   3.2   9.4
    Basic earnings per American Depository Share (“ADS”)
    (in U.S. dollars)    		   $0.06   $0.23   $0.87
    Non-IFRS basic earnings per ADS (in U.S. dollars)   $0.16   $0.45   $1.26
    Cash, cash equivalents and debt investments
    (including accrued interest)3    		   24.0   15.1   25.0
    Shareholders’ equity2   27.6   17.1   26.4
                 

    First Quarter 2025 Financial Analysis

    • Revenue in Q1 2025 totalled $7.1 million (Q1 2024: $8.4 million). The 15% year-over-year change reflects market dynamics that affected the demand from certain customers since mid-2024.  
    • Cost of revenue in Q1 2025 was $2.3 million (Q1 2024: $1.8 million). The increase is mainly due to the investment in the Company’s IP network, specifically in infrastructure and servers, aligning with its strategic decision to boost its expansion capabilities.
    • As a result, Gross profit in Q1 2025 amounted to $4.8 million (Q1 2024: $6.6 million).
    • Operating expenses in Q1 2025 totalled $4.5 million (Q1 2024: $4.0 million). The difference was driven mainly by the increase in research and development salaries and share based payments costs.
    • Financial income, net, in Q1 2025 was $0.2 million (Q1 2024: financial expense, net, of $0.9 million). This shift was mainly due to the fair value decrease of derivative financial instruments (warrants issued in 2019-2020), resulting from the share price changes during the measured periods.  
    • Net profit in Q1 2025 reached $0.4 (Q1 2024: $1.4 million).
    • As of March 31, 2025, shareholders’ equity increased to $27.6 million, up from $26.4 million as of December 31, 2024. The increase was driven by the quarterly net profit.
    • Outstanding ordinary share count as of March 31, 2025, was approximately 69.3 million shares, or 6.9 million in ADSs.

    ______________________

    1 See definition under “Other Metrics”.
    2 The table below contains certain non-IFRS financial measures. See “Use of Non-IFRS Financial Results” for additional information regarding these measures and reconciliations to the most comparable IFRS measures.
    3 As of the last day of the period.

    Financial Outlook

    “First quarter revenues were in line with guidance, whilst Adjusted EBITDA exceeded expectations, surpassing our outlook,” said Mr. Shai Avnit, Chief Financial Officer of Alarum.

    “Alarum has entered the second quarter of 2025 with solid momentum and demand. Accordingly, second quarter 2025 revenues are estimated at $7.9 million ±3%, and Adjusted EBITDA for the second quarter 2025 is expected to range from $0.5 million to $0.8 million. We remain attentive to market dynamics as the AI market reshapes and are actively optimizing our network infrastructure and product delivery, with a clear roadmap to drive efficiency, maintain high margins, and deliver long-term value to our stakeholders,” Mr. Avnit concluded.

    We are unable to present a reconciliation of our estimated Adjusted EBITDA to net profit as we are unable to predict with reasonable certainty, and without unreasonable effort, the impact and timing of certain expenses on our net profit. The financial impact of these expenses is uncertain and is dependent on various factors, including timing, and could be material to our consolidated statements of profit or loss and other comprehensive income (loss).

    First Quarter 2025 Financial Results Conference Call

    Mr. Shachar Daniel, Chief Executive Officer of Alarum, and Mr. Shai Avnit, Chief Financial Officer of Alarum, will host a conference call today, May 29, 2025, at 8:30 a.m. ET, 5:30 a.m. Pacific time, 3:30 p.m. Israel, to discuss the first quarter of 2025 results and the second quarter 2025 outlook, followed by a Q&A session.

    To attend, log in here or dial one of the following numbers, at least five minutes before the call starts: 1-877-407-0789 or 1-201-689-8562. If you are unable to connect using the toll-free number, please try the international dial-in number. An Israeli toll-free number is: 1 809 406 247. Participants will be required to state their name and company upon dialling in. 

    Replay: The conference call will be broadcast live and available for replay here, after 11:30 a.m. ET on May 29, 2025.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the “safe harbor” words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Alarum is using forward-looking statements in this press release when it discusses that the demand for scalable, high-quality data continues to accelerate, driven by the rapid growth of AI technologies and eCommerce platforms; the Company’s focus and strategic; that its technology and collaborations with customers uniquely position it to deliver long-term value for its stakeholders as the market continues to evolve; emergence of a new market around high-quality, scalable data infrastructure; that early results from its strategic investments; pipeline visibility support the positive outlook for the second quarter of 2025; and its estimates regarding second quarter 2025 revenues and Adjusted EBITDA. Because such statements deal with future events and are based on Alarum’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Alarum could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Alarum’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 20, 2025, and in any subsequent filings with the SEC. Except as otherwise required by law, Alarum undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Alarum is not responsible for the contents of third-party websites.

     Condensed Consolidated Statements of Financial Position
     (in thousands of U.S. dollars)
        March 31,   December 31,
        2025   2024     2024
        (Unaudited)   (Audited)
    Assets            
    Current assets:            
    Cash and cash equivalents   13,952     15,060     15,081  
    Trade receivables, net   3,789     2,945     3,231  
    Other receivables   698     1,449     503  
        18,439     19,454     18,815  
                 
    Non-current assets:            
    Long-term deposits   119     104     121  
    Other non-current assets   85     119     85  
    Property and equipment, net   134     110     130  
    Right-of-use assets   429     709     498  
    Deferred tax assets   497     244     422  
    Debt investments at fair value through other comprehensive income   9,331     –     9,256  
    Debt investments at fair value through profit or loss   564     –     555  
    Intangible assets, net   677     1,225     811  
    Goodwill   4,118     4,118     4,118  
    Total non-current assets   15,954     6,629     15,996  
    Total assets   34,393     26,083     34,811  
                 
    Liabilities and equity            
    Current liabilities:            
    Trade payables   373     416     251  
    Other payables   2,815     3,056     4,484  
    Current maturities of long-term loan   965     353     938  
    Contract liabilities   2,072     2,728     1,987  
    Derivative financial instruments   1     952     148  
    Short-term lease liabilities   362     365     359  
    Total current liabilities   6,588     7,870     8,167  
                 
    Non-current liabilities:            
    Long-term lease liabilities   186     462     261  
    Long-term loans, net of current maturities   –     691     32  
    Total non-current liabilities   186     1,153     293  
    Total liabilities   6,774     9,023     8,460  
                 
    Equity:            
    Ordinary shares   –     –     –  
    Share premium   112,059     104,097     111,892  
    Other equity reserves   11,705     13,856     11,012  
    Accumulated deficit   (96,145 )   (100,893 )   (96,553 )
    Total equity   27,619     17,060     26,351  
    Total liabilities and equity   34,393     26,083     34,811  
    Condensed Consolidated Statements of Profit or Loss and Other Comprehensive Income (Loss)
    (in thousands of U.S. dollars, except per share amounts)
      For the
    Three Months Ended
    March 31,    		   For the
    Year Ended
    December 31,
      2025   2024   2024
      (Unaudited)   (Unaudited)   (Audited)
               
    Revenue 7,133   8,376   31,824
    Cost of revenue 2,318   1,803   7,915
    Gross profit 4,815   6,573   23,909
           
    Operating expenses:      
    Research and development 1,370   1,022   4,495
    Sales and marketing 1,827   1,725   7,033
    General and administrative 1,285   1,240   5,661
    Total operating expenses 4,482   3,987   17,189
           
    Operating profit 333   2,586   6,720
           
    Financial income (expense), net 212   (848)   281
    Profit from operations before income tax 545   1,738   7,001
    Tax expense (137)   (298)   (1,221)
    Net profit for the period 408   1,440   5,780
    Other comprehensive income (loss) for the period
    Change in fair value of debt investments    		 72   –   (80)
    Total comprehensive income for the period 480   1,440   5,700
           
    Basic profit per share $0.01   $0.02   $0.09
    Diluted profit per share $0.01   $0.02   $0.08
    Basic profit per ADS $0.06   $0.23   $0.87
               

    Use of Non-IFRS Financial Results

    In addition to disclosing financial results calculated in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board, this press release contains non-IFRS financial measures of EBITDA (EBITDA loss), Adjusted EBITDA (Adjusted EBITDA loss), non-IFRS net profit (loss), non-IFRS gross profit, non-IFRS gross margin and non-IFRS basic earnings (loss) per share or ADS for the periods presented. The Company defines EBITDA (EBITDA loss) as net profit (loss) before depreciation, amortization and impairment of intangible assets (if any), financial income (expense) and income tax; defines Adjusted EBITDA (Adjusted EBITDA loss) as EBITDA (EBITDA loss) as further adjusted to remove the impact of (i) impairment of goodwill (if any); and (ii) share-based compensation; defines non-IFRS net profit (loss) as net profit (loss) before depreciation, amortization and impairment of intangible assets (if any), impairment of goodwill (if any), financial income (expense) effects primarily related to derivative financial instruments as well as long-term loans, deferred tax effects and share-based compensation; defines non-IFRS gross profit as gross profit adjusted to remove the impact of depreciation, amortization and impairment of intangible assets and share-based compensation recorded under cost of revenues; defines non-IFRS gross margin as the percentage of the non-IFRS gross profit out of revenues; and defines non-IFRS basic earnings (loss) per share or ADS as non-IFRS net profit (loss) divided by the weighted average number of ordinary shares or ADSs. The Company’s management believes the non-IFRS financial information provided in this press release is useful to investors’ understanding and assessment of the Company’s ongoing operations. Management also uses both IFRS and non-IFRS information in evaluating and operating its business internally, and as such deemed it important to provide this information to investors. The non-IFRS financial measures disclosed by the Company should not be considered in isolation, or as a substitute for, or superior to, financial measures calculated in accordance with IFRS, and the financial results calculated in accordance with IFRS and reconciliations to those financial statements should be carefully evaluated. Investors are encouraged to review the reconciliations of these non-IFRS measures to their most directly comparable IFRS financial measures provided in the financial statement tables herein.

    Other Metrics

    Net retention rate (NRR) is a key indicator of customer base health and revenue expansion. It is based on NRR point in time, which measures the revenue growth of current customers over the past four quarters, compared to the revenue generated from these customers during the same period a year earlier.
    NRR is calculated as an average of the NRR points in time for the end of the current period and the three preceding quarters.
    NRR > 1 (or 100%): Indicates revenue growth driven by existing customers, where upsells and cross-sells outweigh churn.
    NRR < 1 (or 100%): Shows revenue loss due to churn exceeding gains from upsells or cross-sells.

    Non-IFRS Financial Measures
    (in millions of U.S. dollars, rounded)

    The following tables present the reconciled effect of the above on the Company’s Adjusted EBITDA; non-IFRS net profit; and non-IFRS gross profit for the three months ended March 31, 2025 and 2024, and the year ended December 31, 2024:

        For the
    Three Months Ended
    March 31,    		   For the
    Year Ended
    December 31,
        2025
    		   2024   2024
    Net profit   0.4   1.4   5.8
    Adjustments:            
    Depreciation and amortization   0.2   0.2   0.6
    Financial expense (income), net   (0.2)   0.9   (0.4)
    Tax expense   0.1   0.3   1.4
    EBITDA   0.5   2.8   7.4
    Adjustments:            
    Share-based compensation   0.8   0.4   2.0
    Adjusted EBITDA for the period   1.3   3.2   9.4
        For the
    Three Months Ended
    March 31,    		   For the
    Year Ended
    December 31,
        2025   2024   2024
    Net profit   0.4   1.4   5.8
    Adjustments:            
    Depreciation and amortization   0.2   0.2   0.6
    Financial expense (income), net effects   (0.2)   0.9   0.1
    Deferred tax effects   (0.1)   (0.1)   (0.1)
    Share-based compensation   0.8   0.4   2.0
    Non-IFRS net profit for the period   1.1   2.8   8.4
        For the
    Three Months Ended
    March 31,    		   For the
    Year Ended
    December 31,
        2025   2024   2024
    Gross profit   4.8   6.6   23.9
    Adjustments:            
    Depreciation and amortization   0.1   0.1   0.6
    Share-based compensation   *   *   *
    Non-IFRS gross profit for the period   4.9   6.7   24.5

    * Less than $0.1 million

    About Alarum Technologies Ltd.

    Alarum Technologies Ltd. (Nasdaq, TASE: ALAR) is a global provider of web data collection solutions, empowering organizations to gain a competitive edge by streamlining the collection, extraction, and analysis of large-scale structured data from public online sources. Our data collection solutions by NetNut, are based on our world’s fastest and most advanced and secured hybrid proxy network, which comprises both exit points based on our proprietary reflection technology and hundreds of servers located at our ISP partners around the world. Pushing the boundaries of innovation in data collection, we are building a robust platform, complemented by the Website Unblocker, Data Collector, Data Sets and AI data collector. As the impact of the AI revolution unfolds, Alarum, with its robust market-leading data collection offerings is preparing itself to play a meaningful role as the world reshapes in a new form.

    For more information about Alarum and its web data collection solutions, please visit www.alarum.io.

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    Investor Relations Contact:

    investors@alarum.io

    The MIL Network –

  • MIL-OSI: Polar Cooling Review: Does the Polar Cooling Portable AC Really Work? Best Portable AC 2025

    Source: GlobeNewswire (MIL-OSI)

    New York City, May 29, 2025 (GLOBE NEWSWIRE) — As temperatures rise globally, the demand for personal cooling devices is at an all-time high. Enter the Polar Cooling Portable AC, a sleek, compact solution designed to provide on-the-go relief from the heat. In this review, we’ll delve into the features, performance, pricing, and user feedback to answer the burning question: Does the Polar Cooling Portable AC really work? Is it the best portable air conditioner of 2025?

    This article will cover everything you need to know about this innovative cooling device, helping you decide if it’s the right option for your needs.

    Beat the Heat in Minutes – Get Your Polar Cooling Portable AC Today!

    What is the Polar Cooling Portable AC?

    The Polar Cooling Portable AC is an advanced, energy-efficient air cooling system designed for personal use. Unlike traditional bulky air conditioning units, the Polar Cooling AC is compact, portable, and doesn’t require installation or special tools to operate. Whether you’re working in a hot office or relaxing at home, this unit promises to cool your personal space effectively without consuming large amounts of energy.

    Key Features:

    • Insta-Frost Technology: Designed to rapidly cool the air in your immediate surroundings.
    • Portability: Compact enough to be carried around easily, making it ideal for travel or personal spaces.
    • Multi-Function: Not only does it cool the air, but it also functions as a humidifier and air purifier.

    It’s an ideal solution for anyone looking for a quick, efficient, and affordable way to stay cool during hot weather without the complexity of larger air conditioning systems.

    How Does the Polar Cooling Portable AC Work?

    The Polar Cooling Portable AC uses a cooling mechanism called evaporative cooling. This process involves drawing air through a water-soaked filter that absorbs heat from the air. As the water evaporates, the air is cooled and then blown into your personal space.

    Key features of its operation:

    • USB-Powered: The device is powered via USB, meaning you can charge it from any USB outlet, making it perfect for on-the-go use.
    • Rechargeable Battery: With its built-in rechargeable battery, it operates without needing to be plugged into a power outlet continuously, offering portability and convenience.

    Stay Cool All Summer Long with Polar Cooling – Limited Stock Available!

    Setting up the device is simple:

    1. Fill the water tank.
    2. Plug it into a USB outlet or charge it fully for portable use.
    3. Turn on and adjust the settings according to your cooling preferences.

    Design and Build Quality

    One of the standout features of the Polar Cooling Portable AC is its design. It’s not only sleek but also built for durability and portability. The unit is compact and can fit in virtually any room, desk, or office setup. Its lightweight structure means you can easily move it from room to room or even take it with you on trips.

    Made from premium, eco-friendly materials, it is built to last while being kind to the environment. Its minimalistic design ensures it blends well with any modern decor, from offices to living rooms.

    Performance Analysis

    When it comes to cooling performance, the Polar Cooling Portable AC delivers on its promise. Here’s how it holds up in real-world conditions:

    • Cooling Power: It cools personal spaces effectively, offering a noticeable temperature drop in areas up to 100-200 square feet.
    • Noise Levels: Operating at a whisper-quiet level, it provides a comfortable, undisturbed environment for work or relaxation.
    • Battery Life: On a full charge, the unit can operate continuously for up to 8 hours, ensuring long-lasting performance throughout the day or night.

    Maintenance Requirements are minimal. All you need to do is keep the water tank clean and replace the cooling filters as needed, making it easy to maintain and use over time.

    Don’t Miss Out on Cool Comfort – Order Your Polar Cooling Portable AC Now!

    Energy Efficiency

    One of the biggest draws of the Polar Cooling Portable AC is its energy efficiency. Unlike traditional air conditioners that consume large amounts of electricity, this unit operates on a USB-powered system, significantly lowering energy consumption.

    • Power Consumption: With its USB charging feature, the Polar Cooling AC draws significantly less power compared to standard units, making it an ideal choice for those looking to reduce their energy bills.
    • Comparison with Traditional ACs: In comparison to traditional air conditioners, the Polar Cooling unit uses about 80% less energy, making it an environmentally friendly and cost-effective solution for personal cooling needs.

    How to Maximize the Efficiency of Polar Cooling AC in Hot Weather

    When using the Polar Cooling Portable AC in hot weather, getting the most out of the unit requires more than just turning it on. Maximizing its efficiency ensures that you stay cool while saving on energy costs and extending the lifespan of your device. Here are several tips to help you get the best performance from your Polar Cooling AC during the summer heat:
    1. Place the Unit in the Right Spot
    For optimal cooling, position the Polar Cooling Portable AC in an area where airflow is unimpeded. Avoid placing it near walls, large furniture, or in corners, as this can restrict airflow and reduce its cooling effectiveness. It’s best to place the unit in the center of the room or near a window for better air circulation. Additionally, make sure the cooling vents are facing directly towards you to maximize cooling efficiency.
    2. Keep the Water Tank Full
    The Polar Cooling Portable AC uses evaporative cooling technology, which relies on the water tank to function effectively. Ensure that the tank is always filled with fresh water for the best cooling results. If the water levels are low, the device will struggle to maintain a consistent cooling effect. Refill the tank as needed, especially during prolonged use in hot weather, to ensure the unit runs at full capacity.
    3. Regular Maintenance and Cleaning
    To maintain peak performance, it’s important to clean and maintain the Polar Cooling AC regularly. The cooling filter should be checked for dirt and debris, which can reduce the airflow and cooling power. Clean the filter every couple of weeks, or more often if you’re using it in dusty environments. Also, empty and rinse the water tank periodically to prevent mold or bacteria build-up, which can affect both the unit’s performance and air quality.
    4. Use the AC in Small Spaces
    The Polar Cooling Portable AC is most efficient when used in smaller spaces. While it can provide cooling in larger rooms, its cooling power is optimized for areas like bedrooms, offices, or small living rooms. In hot weather, avoid using it in large, open areas where the cooling effect may dissipate too quickly. Using it in a confined space, such as a small room or office, will help create a more comfortable and consistent cooling environment.
    5. Utilize the Fan and Humidifier Features
    Along with cooling, the Polar Cooling AC also serves as a humidifier and fan. Use the fan function to circulate cool air more effectively across the room, especially in rooms with poor airflow. Additionally, when the air feels dry due to high heat, the humidifier feature can add moisture back into the air, making the cooling effect more comfortable. Proper use of all functions will help maximize the unit’s efficiency.
    6. Close Doors and Windows
    During the hottest part of the day, it’s important to keep doors and windows closed to trap cool air inside. This prevents hot air from entering the room and ensures that your Polar Cooling AC can maintain a lower, more consistent temperature.
    By following these simple tips, you’ll get the most out of your Polar Cooling Portable AC, staying comfortable even during the hottest days of summer while maximizing energy efficiency.
    Stay Comfortable in Any Room – Click Here to Buy Your Polar Cooling AC!

    How to Use Polar Cooling for Sleep Comfort

    Getting a good night’s sleep is essential, and Polar Cooling Portable AC can be a game-changer in creating the ideal sleep environment, especially during warm summer nights. Here’s how to use it effectively for better sleep comfort.
    First, position the Polar Cooling Portable AC in your bedroom, preferably near your bed but not directly facing you. This will ensure that the cool air circulates throughout the room, providing an even temperature without making the airflow too intense. It’s important to adjust the fan speed to a comfortable level—setting it on low or medium works best for creating a gentle, consistent breeze that won’t disturb your rest.
    Next, make sure the water tank is filled and fresh. The evaporative cooling system relies on water to work effectively, so keep it filled to ensure continuous cooling. If you prefer a more humid environment, use the humidifier feature to add moisture to the air, which can help prevent dryness that might disrupt your sleep.
    The quiet operation of the Polar Cooling unit is a huge benefit when using it for sleep. Unlike larger air conditioning units, which can be noisy, this portable AC runs silently, ensuring that you won’t be disturbed by any loud, distracting sounds while trying to fall asleep.
    Finally, make sure the room is sealed by closing windows and doors to retain cool air. By using the Polar Cooling Portable AC correctly, you can maintain a comfortable, cool temperature throughout the night, promoting a restful and refreshing sleep experience.
    Summer Heat Doesn’t Stand a Chance – Get Polar Cooling Now!

    Pricing & Refund Policy

    Pricing Overview
    The Polar Cooling Portable AC is competitively priced to offer an affordable solution for personal cooling needs. As of now, the standard retail price is $89.99, with an exclusive 50% discount available through the promo code CHILL25.
    For those interested in multiple units, bundle deals are available:

    • 1 Unit: $89.99 
    • 2 Units: $84.99/unit
    • 3 Units: $79.99/unit

    Each purchase includes one Polar Cooling unit and one charging system, providing a comprehensive solution for personal cooling needs.

    Refund Policy
    Customer satisfaction is a priority, and the Polar Cooling Portable AC comes with a 90-day money-back guarantee. To qualify for a full refund:

    • The product must be returned in its original, unopened condition.
    • The return must be initiated within 90 days of the original purchase date.
    • Original shipping fees are non-refundable.
    • Return shipping costs are the responsibility of the customer.

    Please note that opened or used units are not eligible for a refund. For returns, contact customer service at 1-888-851-9719 to initiate the process and receive a Return Merchandise Authorization (RMA) number.
    Disclaimer on pricing: Prices vary by package and seasonal promotions. Always refer to the official website for up-to-date pricing, as it is subject to change at any time.
    Experience Instant Relief – Shop Polar Cooling Portable AC and Save Big!

    Customer Reviews and Feedback

    James T., New York, NY

    “I live in a small apartment in New York City, and the summer heat can get unbearable. I decided to give the Polar Cooling Portable AC a try, and I am absolutely amazed by its performance! It cools down my room within minutes, and the fact that it’s so easy to carry around makes it perfect for my mobile lifestyle. Highly recommend for anyone living in small spaces!”

    Sarah M., Los Angeles, CA

    “I’ve been using the Polar Cooling Portable AC in my office for the past month, and it’s been a game changer. The cooling effect is fantastic, and I love that I can move it from my office to the living room with ease. It’s super quiet and doesn’t disrupt my work. Plus, it’s energy-efficient, which is a huge plus in California’s hot weather. Definitely worth the investment!”

    Michael R., Chicago, IL

    “As someone who travels frequently for work, I needed a portable cooling solution for hotel rooms, and this unit is perfect. The Polar Cooling Portable AC is small enough to fit in my suitcase, but powerful enough to cool down any room. It’s been a lifesaver on several trips already. Great performance and very easy to use!”

    Emily K., Miami, FL

    “Living in Miami means dealing with intense heat and humidity. The Polar Cooling Portable AC has been my savior this summer. It cools my bedroom perfectly and helps me sleep comfortably at night. It’s so easy to set up, and I love that it doesn’t take up much space. This is a must-have for anyone dealing with hot weather in small spaces.”

    David H., Dallas, TX

    “I purchased the Polar Cooling Portable AC for my home office, and I couldn’t be happier. Texas summers are brutal, and this portable unit cools my entire office without using too much energy. I love how compact and quiet it is, and it has made working from home much more enjoyable. It’s one of the best purchases I’ve made this year.”

    Comparison with Competitors

    When compared to other popular portable AC units, the Polar Cooling Portable AC offers:

    • Better Portability: Unlike many other brands, the Polar Cooling AC is designed for maximum portability without sacrificing performance.
    • Eco-Friendliness: With its low energy consumption and eco-friendly design, it stands out in the market for users looking for sustainable solutions.
    • Multi-functionality: While many portable ACs focus solely on cooling, the Polar Cooling model also works as a humidifier and air purifier, offering a more comprehensive solution.

    Cool Your Space Anytime, Anywhere – Buy Polar Cooling Portable AC Today!

    Pros and Cons

    Pros:

    • Compact and portable
    • Multi-functional (cooling, humidifying, purifying)
    • Energy-efficient, eco-friendly design
    • Affordable compared to traditional AC units

    Cons:

    • Limited cooling capacity for larger rooms
    • Requires periodic refilling of water tank

    Who Should Consider Purchasing?

    The Polar Cooling Portable AC is perfect for:

    • Office workers who need a personal cooling solution.
    • Students in dorm rooms or apartments looking for a compact AC.
    • Travelers who want a portable and rechargeable option for hotel rooms or outdoor settings.

    FAQs

    Here are some of the most common questions about the Polar Cooling Portable AC:
    Q1: How long does the battery last?
    The Polar Cooling Portable AC provides up to 8 hours of continuous use on a full charge, depending on the cooling level and usage environment. It’s perfect for all-day cooling in small spaces.
    Q2: Can it be used while charging?
    Yes, you can use the Polar Cooling Portable AC while it’s charging, which makes it very convenient if you don’t want to rely on battery life.
    Q3: Is it suitable for humid environments?
    Yes, the Polar Cooling unit is designed to function well in moderately humid environments. It also doubles as a humidifier, which can be beneficial for maintaining a comfortable atmosphere in drier areas.
    Q4: What maintenance is required?
    To maintain the Polar Cooling Portable AC, simply clean the water tank regularly to prevent buildup. You’ll also need to replace the cooling filter as recommended by the manufacturer, ensuring optimal performance.
    Q5: Does it come with a warranty?
    The Polar Cooling Portable AC comes with a 1-year warranty that covers manufacturing defects and malfunctions under normal usage conditions.
    Get Yours Before It Sells Out – Polar Cooling Portable AC Won’t Last Long!

    Why Choose Polar Cooling Portable AC Over Traditional AC Units?

    • Portability vs. Fixed AC Units: Compare the benefits of a portable unit like the Polar Cooling AC versus traditional wall-mounted or window units.
    • Installation Ease: Discuss the convenience of using a portable AC that doesn’t require installation compared to complex traditional systems.
    • Space Efficiency: Explain how the Polar Cooling unit saves space, especially in apartments and smaller living areas.

    How Effective Is the Polar Cooling Portable AC for Various Environments?

    • Indoor Use: Evaluate its performance in different indoor environments like bedrooms, offices, and living rooms.
    • Outdoor Use: Discuss how effective it is for outdoor activities such as camping, picnics, or poolside relaxation.
    • Travel-Friendly: Explore its suitability for travel in RVs, hotel rooms, or even outdoor adventures.

    Understanding Evaporative Cooling: What You Need to Know

    • How Evaporative Cooling Works: A deeper dive into the science behind evaporative cooling and why it’s effective in certain climates.
    • Environmental Considerations: Discuss how the Polar Cooling Portable AC can be an eco-friendly alternative to traditional cooling methods.
    • Humidity Impact: Explain how the device works best in areas with low to moderate humidity and the science behind it.

    Beat the Heat NOW – Polar Cooling AC is Flying Off the Shelves

    Polar Cooling in Different Climates: Works Best in Hot or Dry Environments?

    The Polar Cooling Portable AC is a versatile cooling solution, but its performance is highly influenced by the climate in which it’s used. Understanding how the unit works in different climates is key to maximizing its effectiveness.
    The Polar Cooling Portable AC uses evaporative cooling technology, which works by drawing warm air through a water-soaked filter. As the water evaporates, it cools the air and blows it into your space. This process is most effective in dry climates with low humidity. In areas like the desert or arid regions, the air can absorb more moisture, allowing the unit to cool the air more efficiently.
    In contrast, in humid environments, such as coastal areas or places with high rainfall, the air is already saturated with moisture, which limits the effectiveness of evaporative cooling. In these areas, the Polar Cooling unit may still provide some relief, but it won’t cool the air as efficiently as it would in a dry climate. The high moisture content in the air reduces the evaporation rate, making the cooling effect less pronounced.
    However, in hot but dry climates, the Polar Cooling Portable AC excels, offering excellent performance and cooling efficiency. For homeowners in these regions, the Polar Cooling unit is an ideal choice to combat the heat without the energy consumption of traditional air conditioning systems.
    Act Fast – Polar Cooling AC Is Almost Gone! Order Now!

    Common Issues and How to Fix Them

    • Water Tank Leaks: Solutions for potential water tank leakage issues, along with troubleshooting tips.
    • Cooling Performance Drops: Tips on how to maintain consistent cooling performance by cleaning filters and refilling water.
    • Battery Life Issues: How to extend battery life and what to do if the unit isn’t holding a charge.

    Polar Cooling Portable AC for Healthier Air Quality

    • Air Purification Features: Discuss the additional benefit of air purification that comes with this unit.
    • Allergy Relief: How the Polar Cooling AC can help reduce allergens like dust and pollen.
    • Humidity Control: Explain how the built-in humidifier feature benefits respiratory health and comfort.

    How to Maximize the Life of Your Polar Cooling Portable AC

    • Maintenance Tips: Provide a step-by-step guide on how to clean the unit, replace filters, and keep it running efficiently.
    • Storage Tips: Best practices for storing the device during the off-season to extend its life.
    • Troubleshooting: Basic troubleshooting for common issues like low airflow or insufficient cooling.

    Is Polar Cooling Suitable for Larger Spaces?

    • Effective Cooling Range: Discuss the size of the space the Polar Cooling AC can effectively cool and whether it’s suited for larger rooms.
    • Considerations for Large Homes: Offer alternative solutions for people living in larger homes who may need additional cooling units or supplementary devices.

    Hurry! Limited Stock – Don’t Miss Out on Polar Cooling for Instant Relief!

    Polar Cooling Portable AC: A Must-Have for Students and College Dorms

    • Portable & Convenient: Why this product is a perfect choice for college students living in dorms or apartments without central AC.
    • Space-Saving: How it helps students save space in small living conditions.
    • Energy Efficiency for Students: How this portable AC can keep electricity costs down, ideal for a student budget.

    Polar Cooling Portable AC for Small Business Owners

    As a small business owner, maintaining a comfortable environment for both employees and customers is crucial for productivity and satisfaction. The Polar Cooling Portable AC offers an affordable, energy-efficient solution for cooling small business spaces, making it an ideal choice for a range of business environments, from home offices to retail shops.
    One of the key benefits of the Polar Cooling Portable AC for small business owners is its portability. Unlike traditional air conditioning units that require permanent installation and significant space, this compact and lightweight unit can be easily moved from room to room. Whether you need to cool an office, a reception area, or a small retail space, the Polar Cooling AC can adapt to your needs, providing localized cooling exactly where it’s needed most.
    Additionally, the energy efficiency of the Polar Cooling Portable AC is a major advantage for small businesses looking to cut down on operational costs. Traditional air conditioning units can consume a significant amount of energy, especially during the summer months. However, the Polar Cooling AC uses USB power and operates at a fraction of the cost, helping you save money on your electricity bills while still ensuring a comfortable atmosphere for both staff and customers.
    The quiet operation of the Polar Cooling unit is another benefit for business environments. Unlike some larger air conditioners that can produce disruptive noise, this portable AC operates at a low noise level, making it ideal for customer-facing businesses or office environments where noise can be distracting.
    In conclusion, the Polar Cooling Portable AC offers small business owners an efficient, cost-effective, and portable way to keep their spaces cool and comfortable, ensuring a productive environment without the added hassle of traditional AC systems.
    This Offer Won’t Last – Buy Polar Cooling Portable AC Now Before It’s Gone!

    How Polar Cooling Compares to Other Personal Cooling Devices

    • Fans vs. Portable AC: Why the Polar Cooling unit is a better choice than traditional fans, and how it provides more effective cooling.
    • Personal Coolers: Compare this unit with other small-scale cooling products like misting fans or portable fans.
    • Swamp Coolers: A side-by-side comparison of swamp coolers and the Polar Cooling unit in terms of effectiveness and convenience.

    Polar Cooling Portable AC for Offices and Workspaces

    • Enhanced Productivity: Discuss how a cool workspace can improve focus and productivity.
    • Quiet Operation: The advantage of using the Polar Cooling AC in an office without disruptive noise.
    • Easy Portability Between Offices: How employees can easily move the AC from one office space to another.

    Why Polar Cooling is the Ultimate Summer Investment for Homeowners

    As summer temperatures rise, homeowners are always on the lookout for ways to stay cool without breaking the bank on expensive air conditioning units. The Polar Cooling Portable AC is the ultimate summer investment for homeowners seeking an affordable, efficient, and convenient cooling solution.
    First, the portability of the Polar Cooling unit makes it an ideal choice for homeowners. Unlike traditional air conditioners that require complex installations and are fixed in one spot, the Polar Cooling AC is compact and lightweight. You can move it from room to room or even take it with you when traveling, ensuring that you stay comfortable no matter where you are.
    The energy efficiency of the Polar Cooling Portable AC is another reason it’s a smart investment. Traditional air conditioners can lead to high electricity bills, especially during the peak summer months. In contrast, the Polar Cooling AC uses minimal power, helping homeowners save money while still providing effective cooling.
    Moreover, with features like humidification and air purification, it doesn’t just cool your space—it improves air quality and provides added comfort during hot, dry weather.
    In conclusion, the Polar Cooling Portable AC is a cost-effective, versatile, and efficient way for homeowners to stay cool this summer, making it a must-have investment for beating the heat.
    The Ultimate Cooling Solution is Here – Get Your Polar Cooling Portable AC Now!

    Customer Support and Warranty Information

    • Customer Service: Overview of the support available for Polar Cooling users, including troubleshooting and replacement parts.
    • Warranty Coverage: Clarify the details of the product’s warranty and what it covers.
    • How to Contact Support: Provide information on how to reach Polar Cooling’s customer service for issues related to the product.

    Final Thoughts

    In conclusion, the Polar Cooling Portable AC stands out in the crowded market of portable cooling devices. Its unique combination of cooling, humidifying, and purifying functions makes it an excellent option for anyone who needs personal cooling in a small, convenient package. Whether you’re working at your desk, relaxing at home, or traveling, this portable AC offers exceptional value for its price.
    Its energy efficiency, compact size, and user-friendly features position it as one of the best portable cooling options of 2025. While it may not cool large rooms like traditional air conditioning systems, it excels in small spaces and delivers impressive results where it matters most.
    If you’re in the market for a portable, energy-efficient AC, the Polar Cooling Portable AC is certainly worth considering. With real user feedback and its multi-functional capabilities, it’s a smart investment for those who value comfort and convenience.

    Company: Polar Cooling
    Address: 6413 Bandini Blvd, Commerce, CA 90040, USA
    Email: cs@getultimateac.com
    Order Phone Support: 1-888-817-9080 (7AM – 5PM PST)

    Disclaimer Legal Disclaimer
    The information presented in this article is provided for general informational purposes only. While efforts are made to ensure accuracy and completeness, no content herein should be interpreted as a substitute for professional advice, product instructions, or manufacturer guidance. Product performance may vary depending on usage, environmental conditions, or maintenance habits. The Polar Cooling Portable AC is intended solely for non-medical, personal comfort use and is not designed to diagnose, treat, or prevent any medical condition. Readers with specific health concerns should consult a licensed healthcare provider before using any evaporative or air-modifying device.
    The content in this article may include subjective assessments, third-party testimonials, or editorial opinion based on publicly available information. All users are responsible for their own due diligence prior to purchase.
    Product specifications, pricing, and promotions mentioned are accurate at the time of publication but may change without notice. Readers are strongly encouraged to consult the official product website for the most current and accurate information before making any purchasing decision.
    This article is not authored by or affiliated with the product manufacturer, and all trademarks are the property of their respective owners.

    Affiliate Disclosure
    This content may include affiliate links. If a purchase is made through such links, the publisher may receive a commission at no additional cost to the reader. These commissions help support editorial and content development but do not influence the opinions or recommendations shared.
    The publisher of this article is not responsible for pricing discrepancies, product availability, incorrect claims, or typographical errors. All liability rests solely with the manufacturer and retail provider of the product. Syndication partners, editorial distributors, and third-party platforms sharing this content are likewise held harmless from any consequence resulting from use, misuse, or misunderstanding of the information contained herein.

    Attachment

    The MIL Network –

  • MIL-OSI Global: The anatomy of a smile: how to spot a fake from the real thing

    Source: The Conversation – UK – By Michelle Spear, Professor of Anatomy, University of Bristol

    Axel Bueckert / Alamy Stock Photo

    You’ve probably heard the claim that it takes more muscles to frown than to smile. It’s usually framed as a feel-good reason to turn your frown upside down – less effort, more joy. But anatomically, the numbers don’t quite add up.

    We’ve all seen it – the smile that doesn’t quite reach the eyes. From awkward family photos to strained workplace pleasantries, our brains often detect that something is off long before we consciously realise why.

    But what is it about a smile that makes it feel sincere — or fake? The answer lies in a surprising blend of facial anatomy, neurology and emotional authenticity.

    Not all smiles are created equal, and anatomically speaking, there are at least two distinct kinds: the Duchenne smile, which reflects genuine happiness, and the non-Duchenne smile, which tends to be more social or strategic.

    Named after 19th-century French neurologist Guillaume Duchenne de Boulogne, the Duchenne smile activates two key muscle groups. The first group is associated with the corners of the mouth – where, for example, the risorius (from the Latin to smile) draws the corners outward and the zygomaticus major muscle lifts them.

    The second, and most telling, muscle is the orbicularis oculi, which tightens the muscles around the eyes, producing the familiar “crow’s feet” and the gentle narrowing we associate with warmth and delight.

    Fake or polite smiles, on the other hand, usually involve only the mouth muscles. The eyes remain wide or indifferent, and the smile appears more mechanical than meaningful – a kind of emotional camouflage.

    Both real and fake smiles depend on cranial nerve VII, also known as the facial nerve, which sends signals from the brain to the muscles of facial expression. However, there’s a key neurological difference: Duchenne smiles tend to be generated by the limbic system, the brain’s emotional core – particularly the amygdala, an almond-shaped group of neurons that processes emotional salience.

    Non-Duchenne smiles, by contrast, are often under more conscious cortical control, originating in the motor cortex. This divide means that authentic, emotionally driven smiles are involuntary.

    You can’t easily will your orbicularis oculi to contract convincingly unless you’re genuinely feeling the emotion behind the expression. Even professional actors must tap into real memories or method techniques to produce them convincingly.

    Why our brains notice the difference

    Humans are remarkably good at detecting emotional authenticity. Studies show that even infants as young as ten months can distinguish between real and fake smiles.

    Evolutionarily, this ability may have helped us assess trustworthiness, recognise true allies and avoid deception. The fusiform gyrus, a part of the brain involved in facial recognition, works closely with the superior temporal sulcus to decode expressions — helping us gauge intention as much as emotion.

    In modern life, our sensitivity to facial nuance continues to matter. Politicians, customer service workers and public figures frequently rely on the social smile to navigate complex interpersonal expectations. But observers – consciously or not – often pick up on these micro-discrepancies.

    Fake smiles aren’t necessarily malicious. In fact, they serve important social functions: smoothing awkward interactions, signalling politeness, defusing conflict and showing deference. They are a vital part of what sociologists call “emotional labour” – managing one’s expressions to meet societal or professional expectations.

    But this kind of smiling, when sustained for long periods, can be emotionally exhausting. Studies of emotional labour suggest that being required to smile without genuine feeling – especially in service roles – is associated with increased stress, burnout and even cardiovascular strain.

    As we move further into the age of AI, synthetic faces – from chatbots to virtual assistants – are being programmed to replicate human expressions. Yet the challenge remains: how do you fake authenticity? Engineers can program a smile, but without the micro-contractions around the eyes, many of these expressions still seem disingenuous. Our own anatomy sets the gold standard.

    So next time you’re trying to decode someone’s expression, don’t just look at the mouth. Watch the eyes. The orbicularis oculi rarely lies.

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

    – ref. The anatomy of a smile: how to spot a fake from the real thing – https://theconversation.com/the-anatomy-of-a-smile-how-to-spot-a-fake-from-the-real-thing-256481

    MIL OSI – Global Reports –

  • Israel announces new West Bank settlements despite sanctions threat

    Source: Government of India

    Source: Government of India (4)

    Israel’s government has approved 22 new Jewish settlements in the occupied-West Bank, Finance Minister Bezalel Smotrich said on Thursday, a move that could deepen divisions with some allies, who have threatened sanctions over further expansion.

    Far-right Smotrich, an advocate for Israeli sovereignty over the West Bank, wrote on X that the new settlements would be located in the northern area of the West Bank, without specifying where.

    Israeli media cited the Defense Ministry as saying that among the new Jewish settlements, existing “outposts” would be legalised and new settlements would also be built.

    Around 700,000 Israeli settlers live among 2.7 million Palestinians in the West Bank and East Jerusalem, territories Israel captured from Jordan in the 1967 war. Israel later annexed East Jerusalem, a move not recognized by most countries, but has not formally extended sovereignty over the West Bank.

    Palestinians see expansion of the settlements as a hindrance to their aspirations to establish an independent Palestinian state in the Gaza Strip and the West Bank, including occupied East Jerusalem.

    There is a growing list of European countries demanding that Israel end the war in Gaza, while Britain, France and Canada this month warned Israel it could impose targeted sanctions if Israel continued to expand settlements in the West Bank.

    Most of the international community considers the Jewish settlements illegal. The Israeli government deems settlements legal under its own laws, while some so-called “outposts” are illegal but often tolerated and sometimes later legalised.

    Settlement activity in the West Bank has accelerated sharply since the war in Gaza, now in its 20th month, adding to escalating Israeli military operations against Palestinian militants and increasing numbers of settler attacks targeting Palestinian residents.

    Nabil Abu Rudeineh, a spokesperson for Palestinian President Mahmoud Abbas, called Israel’s decision a “dangerous escalation”, accusing the government of continuing to drag the region into a “cycle of violence and instability”.

    “This extremist Israeli government is trying by all means to prevent the establishment of an independent Palestinian state,” he told Reuters, urging U.S. President Donald Trump’s administration to intervene.

    Hamas official Sami Abu Zuhri condemned the announcement and called on the United States and the European Union to take action.

    “The announcement of the building of 22 new settlements in the West Bank is part of the war led by Netanyahu against the Palestinian people,” Abu Zuhri told Reuters.

    (Reuters)

  • US cancels more than $700 million funding for Moderna bird flu vaccine

    Source: Government of India

    Source: Government of India (4)

    The Trump administration has canceled a contract awarded to Moderna for the late-stage development of its bird flu vaccine for humans, as well as the right to purchase shots, the drugmaker announced on Wednesday.

    Shares of Moderna were flat in after-market trading.

    Moderna in January was awarded $590 million by the Biden administration to advance the development of its bird flu vaccine, and support the expansion of clinical studies for up to five additional subtypes of pandemic influenza

    This was in addition to $176 million awarded by the U.S. Department of Health and Human Services (HHS) last year to complete the late-stage development and testing of a pre-pandemic mRNA-based vaccine against the H5N1 avian influenza.

    HHS told Reuters earlier this year that it was reviewing agreements made by the Biden administration for vaccine production.

    “The cancellation means that the government is discarding what could be one of the most effective and rapid tools to combat an avian influenza outbreak,” said Amesh Adalja, senior scholar at the Johns Hopkins Center for Health Security, adding that it is the opposite approach Trump took with Operation Warp Speed to combat COVID-19.

    An HHS spokesperson said that after a comprehensive internal review, the agency had determined that the project did not meet the scientific standards or safety expectations required for continued federal investment.

    Bird flu has infected 70 people, most of them farm workers, over the past year as it has spread aggressively among cattle herds and poultry flocks.

    Health Secretary Robert F. Kennedy Jr. has questioned the use of vaccines and earlier this year drew censure from some in the U.S. Congress after he suggested in a television interview that poultry farmers should let the bird flu spread unchecked through their flocks to study chickens who did not contract it.

    Moderna said it plans to explore alternatives for late-stage development and manufacturing of the vaccine.

    The company has been banking on revenue from newer mRNA shots, including its bird flu vaccine and experimental COVID-flu combination vaccine, to make up for waning post-pandemic demand for its COVID vaccine.

    Moderna also said on Wednesday that it had received positive interim data from a mid-stage trial set up to test the safety and immunogenicity of its bird flu vaccine targeting the H5 avian influenza virus subtype.

    -REUTERS

  • MIL-OSI United Kingdom: Sustainable scallop harvesting, safety and supply chain improvements

    Source: United Kingdom – Executive Government & Departments

    Case study

    Sustainable scallop harvesting, safety and supply chain improvements

    Thanks to the Fisheries and Seafood Scheme (FaSS) a small scale coastal fishing business has been able to invest in safety upgrades, eco-friendly vessel maintenance and infrastructure to maintain catch quality and market value.

    Key Facts

    • Applicant name: Greenstraight Scallops Ltd

    • Location: Dartmouth, South West, England
    • Type of project: Improving safety, promoting sustainability, enhancing supply chain infrastructure.
    • Project value: £23,508
    • Grant value: £18,806
    • Date awarded: February 2024 – May 2024

    Project details

    Greenstraight Scallops Ltd is operated by James Kirkaldy, an expert free diver and environmentally conscious small-scale coastal fisherman. Harvesting scallops year-round within six miles of the coast from his 6.3m vessel Terry David, James supplies high-quality shellfish to local restaurants in Dartmouth.

    With support from the Fisheries and Seafood Scheme (FaSS), James secured funding for three projects to improve diver and vessel safety, invest in eco-friendly maintenance, and enhance the shoreside infrastructure needed to preserve product quality and expand market access.

    These investments include the purchase of a refrigerated vehicle, a new chest freezer, cool boxes, safety equipment, and the application of an eco-friendly copper coating to the vessel hull. They address critical safety needs and enable James to increase resilience in the business by expanding where and how he sells his catch.

    James, Owner, Greenstraight Scallops Ltd:

    Thanks to the FaSS I have been able to successfully deliver significant improvements which give me peace of mind – not just about safety at sea, but about the future of my business and the traceability and quality of my catch.

    Project outcomes

    • Improved safety and working conditions through upgraded PPE
    • Safer vessel operations via a rebuilt deck and engine box, non-slip paint, and a new lifting davit which improves ability to bring catch on board and also doubles as the means to do an emergency recovery of a diver in the water if required
    • Sustainable vessel maintenance with the application of an ocean-friendly copper coat and support for vessel lift-outs, pressure washing and storage
    • New cold chain infrastructure including a refrigerated vehicle, chest freezer, cool boxes and ice packs to maintain product freshness and extend market reach
    • Resilience in supply chain by enabling storage and supply of scallops out of season, helping to maintain consistent availability for premium markets
    • Business growth projected turnover increase of 5% through enhanced quality control and expanded sales channels
    • Sector benefits through demonstration of best practice in diver safety and environmentally responsible harvesting

    Learn more

    This case study demonstrates the legacy of the FaSS in supporting England’s catching, aquaculture and processing sectors, as well as enabling projects that are improving the marine environment. It also supports MMOs commitment to ensuring a prosperous, innovative and sustainable future for the fishing industry.

    Read more Fisheries and Seafood Scheme: Selected case studies

    Updates to this page

    Published 29 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: In 2025, more than 2,100 budget places will be available at NSU at all levels of training

    Translation. Region: Russian Federal

    Source: Novosibirsk State University – Novosibirsk State University –

    Today, TASS hosted a press conference dedicated to the specifics of the upcoming admissions campaign to universities in the Siberian Federal District. The event was attended by representatives of leading universities in Novosibirsk, Tomsk, Krasnoyarsk and Gorno-Altaisk. NSU was represented by Alexander Trusevich, Head of the Department for Work with Applicants.

    — Last year, more than 8,000 applicants showed interest in entering the university, in terms of the number of applications, this is, of course, several times more. We hope that this year the number will be even greater. As a rule, 2/3 of the total number of those enrolled are those who were enrolled in budget places, and the rest are paid admission. The interest and popularity of NSU is increasing among applicants based on the results of prestigious Olympiads — this is the All-Russian School Olympiad, these are the list Olympiads. Last year, the number of enrolled applicants with such results increased by almost 20%, — noted Alexander.

    In 2025, 2108 budget and 1363 fee-paying places will be available at NSU at all levels of training. In general, the number of places remains at the level of previous years.

    — This year, NSU will have a new category of places for the first time — places financed by industrial partners. Education in these places will be completely free for applicants, with the possibility of receiving a scholarship at the expense of industrial partners, — added Alexander.

    Among the main innovations that await applicants this year:

    — the most noticeable change compared to last year is the abolition of the requirement to provide the original educational document as a prerequisite for enrollment; instead of the original educational document, applicants must submit an application for consent to enrollment;

    — for the first time this year, applicants for master’s and postgraduate programs will be able to use the super service “Online University Admission” and submit documents using the “Gosuslugi” portal; this will expand the geography of applicants;

    — starting with this admissions campaign, universities must designate the maximum number of fee-paying places, which cannot be increased during the admissions campaign;

    — amendments were recently made to the Federal Law on Education, which will allow children of participants in military operations on the territory of the Russian Federation to enroll in places under a separate quota;

    — starting this year, a new type of individual achievements has been introduced for applicants to target quota places — targeted individual achievements; the maximum score that an applicant can receive is 5 points.

    This year, the university will introduce a number of new educational programs that train interdisciplinary specialists and cover promising areas. Among them are the specialty “Medical Cybernetics” and the master’s program “Industrial Pharmacy”. New educational programs are being implemented jointly with the MSU Engineering School, and large companies “Pharmstandard” and “Generium” are industrial partners. New educational programs will be developed on the basis of the infrastructure of the educational and scientific center of the Institute of Medicine and Medical Technologies, which is part of the modern NSU campus, built within the framework of the national project “Youth and Children”.

    Also starting this year, NSU is opening admission to the bachelor’s degree program “Applied Artificial Intelligence”. This program won the federal grant competition for training top specialists in the field of artificial intelligence. The pilot recruitment will consist of 150 students. The program will be implemented with the active participation of industrial partners – Rostelecom and Innotech (T1). Grant support will allow students to study for free and receive scholarships from industrial partners.

    On Faculty of Physics a new Master’s program “Applied Mathematics and Physics” will be implemented. Within its framework, training will be conducted in three profiles – “Space and Special Instrumentation”, “Medical Physics” and “Information Processes and Systems”.

    If we talk about the most popular areas, then the biggest competition is for those with a small number of budget places, for example: linguistics; business informatics; jurisprudence. The competition for them reaches 50 people per place.

    According to the results of the 2024 admissions campaign, the following can be distinguished among the most popular areas of natural science and engineering:

    — Applied Mathematics and Physics — 33.6 people per place (14 people enrolled on a budgetary basis);

    — Computer science and engineering — 27.3 people per place (185 people enrolled on a budgetary basis);

    — Physics. Physical informatics — 14.6 people per place (28 people enrolled on a budgetary basis);

    — Mechatronics and robotics — 13.8 people per place (70 people enrolled on a budgetary basis);

    — Chemistry — 9.9 people per place (65 people enrolled on a budget basis).

    — The interest in NSU from applicants coming from other regions is growing. Thus, last year, out of 2,000 people admitted to bachelor’s and specialist’s degree programs, almost 50% were not from the Novosibirsk Region. Moreover, applicants come not only from neighboring regions, but also from the central part of Russia: from Moscow, St. Petersburg, Ufa, Kaliningrad, Samara and other cities, — Alexander emphasized.

    The university is increasing the number of foreign students, primarily interested in medical, natural science and engineering research areas. Many applicants are from the CIS – Kazakhstan, Tajikistan and Uzbekistan. Among the far abroad countries, the top countries include China, Turkey, Iran and Iraq. This year, a joint educational program for a bachelor’s degree in physics will open with Chongqing University, 60 Chinese students will be accepted.

    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 –

  • MIL-OSI Economics: “The African Development Bank has one of the most democratic processes in electing the President of The Bank.”

    Source: African Development Bank Group
    This year’s Annual Meetings have the extra dynamic of the election of a new President to take over the helm of the institution after ten years under Dr. Akinwumi Adesina. Can you walk us through the key electoral processes and steps until the new President takes office?

    MIL OSI Economics –

  • MIL-OSI Economics: Asian Development Blog: AI-Powered and Asia-Made: Leading the Way with Chip Design and Supply Chain Resilience

    Source: Asia Development Bank

    Asia’s dominance in semiconductor manufacturing is fueling a surge in AI-related exports, underpinned by growing investments in infrastructure and design. While risks from global trade tensions loom, strategic action on domestic innovation and regional cooperation offers a pathway to sustained growth.

    MIL OSI Economics –

  • MIL-Evening Report: Grattan on Friday: Trump, tariffs and the Middle East are looming challenges for Albanese

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Australia these days receives invitations to big-league international conferences. And so Anthony Albanese will be off soon to the G7 meeting in Alberta, Canada, on June 15-17.

    For the prime minister, what’s most important about this trip is not so much the conference itself, but his expected first meeting with US President Donald Trump, either on the sidelines of the G7 or in a visit to Washington while he’s in North America.

    Nothing is locked in. But it’s impossible to think such a meeting won’t take place. The Australian PM certainly needs to have his first face-to-face talks with the US president sooner rather than later.

    During the election, there was much argument over whether Albanese or Peter Dutton would be better at dealing with the difficult and unpredictable Trump, in particular, in trying to extract some concessions on his tariffs

    Australia has been hit by Trump’s 25% tariff on aluminium and steel, as well as by his general 10% tariff.

    The Trump tariff regime has been a chaotic story of decisions, pauses and changes of mind. In the latest drama, the United States Court of International Trade on Wednesday blocked Trump’s “Liberation Day” tariffs (as far as Australia goes, this relates to the 10% general tariff but not that on aluminium and steel). The court found the president had exceeded his powers. The administration immediately appealed the decision.

    We can’t know how this imbroglio will play out. But assuming Australia will still be confronting some tariffs, Albanese’s pitch for special treatment will be made around what we can do for the Americans with our large deposits of critical minerals and rare earths. These are vital for the production of a huge range of items, including for defence purposes.

    Australia’s ambassador to the US, Kevin Rudd, speaking at a conference in Detroit this week, pointed out that the two countries already had a draft accord on these minerals.

    “What we need to work out […] is how do we collaborate both on the mining, the extraction, the transportation and the processing and the stockpiling to make our economies resilient, including what you’ll need for future battery manufacture,” Rudd said.

    When Albanese does get together with Trump, he will have the advantage of meeting him as the big winner of the recent election. Trump said of him post-election, “He’s been very, very nice to me, very respectful to me”.

    But that’s no iron-clad guarantee of success. With the US president, there are always multiple “known unknowns”.

    For Albanese, success on the tariff front would be important, but not, of course, as important politically as it would have been pre-election.

    A range of other issues will also be on the agenda when the two meet: including progress on AUKUS.

    The president would no doubt be pleased the government is in the process of booting the Chinese lessee out of the Port of Darwin (with American investment firm Cerberus expressing an interest in taking over, although the government’s preference is for the port to be in Australian hands).

    Trump might not think, however, that the government’s commitment to defence spending, due to reach 2.3% of gross domestic product by 2033-34, is enough. The Americans would prefer a level of 3% of GDP.

    No doubt the Middle East would also be canvassed in such talks. While Middle East policy is not a frontline issue in the Australian-American relationship, the Albanese government struggles at home to strike the right stance.

    Since the October 2023 Hamas attack on Israel, Australia has seen a deterioration in local social cohesion. Antisemitism spiked to a degree not anticipated; pro-Palestinian demonstrations became a regular and controversial feature. The government found itself under political fire from the Jewish community and pro-Palestinian critics alike.

    With the Israeli government disregarding international criticism, and the humanitarian crisis in Gaza growing more dire, Albanese this week toughened his rhetoric.

    On Monday he said: “It is outrageous that there be a blockade of food and supplies to people who are in need in Gaza. We have made that very clear by signing up to international statements”. He described Israel’s actions as “completely unacceptable”.

    Within Labor, the pressure to go further has been mounting. It is on two fronts. Some want sanctions against Israel (beyond the existing sanctions in relation to settlers on the West Bank). There is also the issue of whether Australia should recognise a Palestinian state ahead of a two-state solution.

    Ed Husic, a Muslim, was relatively outspoken even while he was in cabinet. Since being dumped from the ministry, he is much freer to put forth his view.

    This week, he was calling for imposing sanctions if other nations were to do so. “I think we should be actively considering […] drawing up a list of targeted sanctions where we can join with others”.

    Significantly, former Labor Foreign Minister Gareth Evans was another advocate, saying sanctions “would send a powerful message”.



    Read more:
    Gareth Evans: the case for recognising Palestine

    But when the question of sanctions was put to Albanese, he was dismissive, raising the issue of substantive outcomes.

    At the Labor party’s grassroots level, there is strong pressure for a more pro-Palestinian approach.

    It is not unreasonable to think that would strike a sympathetic chord with both Albanese and Foreign Minister Penny Wong, but they are very cognisant of the politics – both international and local.

    Wong a year ago raised the possibility of recognising Palestine statehood as a step along a peace process, ahead of a two-state solution.

    Australia’s ambassador to the United Nations, James Larson, last week delivered an Australian statement to a preparatory meeting for a June conference in New York on “the question of Palestine and the implementation of the two-state solution”.

    Echoing Wong’s earlier position, he said: “A two-state solution – a Palestinian state alongside the state of Israel – is the only hope of breaking the endless cycle of violence, and the only hope of a just and enduring peace, for Israelis and Palestinians alike.”

    “Like other partners, Australia no longer sees recognition of a Palestinian state as only occurring at the end of negotiations, but rather as a way of building momentum towards a two-state solution.”

    Evans, in an article for Pearls and Irritations this week, says the “strongest and most constructive contribution” Australia could make on the issue would be to announce at the conference “that we are immediately recognising Palestinian statehood: not just as the final outcome of a political settlement but as a way of kickstarting it”.

    The government is tight-lipped about what stand it will take for the June 17-20 conference, saying it doesn’t have details yet and is unable to say who will attend for Australia. It says it is not being framed as a conference where countries are expected to make pledges.

    Nevertheless, many within Labor will be watching closely whether the coming weeks will see any change in Australia’s Middle East policy. But that, in turn, would depend on whether others make any moves, because Australia wants to have company from like-minded countries.

    Michelle Grattan 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. Grattan on Friday: Trump, tariffs and the Middle East are looming challenges for Albanese – https://theconversation.com/grattan-on-friday-trump-tariffs-and-the-middle-east-are-looming-challenges-for-albanese-257333

    MIL OSI Analysis – EveningReport.nz –

  • Indian stock market ends in green over positive global cues

    Source: Government of India

    Source: Government of India (4)

    The Indian stock market closed in green on Thursday amid positive global cues. Sensex closed 320.70 points or 0.39 per cent up at 81,633.02 while Nifty ended up 81.15 points or 0.33 per cent at 24,833.60.

    Buying was seen in midcap and smallcap along with largecap. Nifty Midcap 100 index was up 315.85 points or 0.55 per cent at 57,457.25 and Nifty Smallcap 100 index was up 105.40 points or 0.59 per cent at 17,889.

    On a sectoral basis, metal, IT, financial services, realty, media and energy indices were in the green, while, PSU Bank, FMCG and PSE sectors were in the red.

    “Global sentiment improved after a US court struck down Donald Trump’s reciprocal tax policy. However, the domestic market remained mostly rangebound during the day due to rising oil prices and higher US 10-year bond yields,” said Vinod Nair, Head of Research, Geojit Investments Limited.

    Some recovery was seen toward the end of the session, driven by F&O expiry led covering.

    “Export-focused sectors like IT and Pharma performed well, supported by hopes of easing trade tensions. Lack of positive domestic triggers and a drop in industrial output to an eight-month low could lead to short-term market consolidation,” he mentioned.

    Nifty witnessed a volatile session on the day of monthly expiry. The momentum continues to remain weak, with the RSI still pointing downward.

    “The next crucial support is at 24,670. If the index falls below this level, a sharp correction may occur, potentially dragging the index down to 24,400/ 24,300. On the other hand, if Nifty holds above 24,670, it could witness a smart recovery towards 25,000 or 25,150 in the short term,” said Rupak De from LKP Securities.

    Gold prices traded weak in the first half of the session after the FOMC meeting minutes indicated that the U.S. Federal Reserve is unlikely to ease interest rates in the near term, maintaining a data-dependent stance. In the domestic market, MCX gold holds support near Rs 94,000, with resistance around Rs 96,500, said experts.

    –IANS

  • MIL-OSI United Kingdom: £85 million to support arts and cultural organisations across the country

    Source: United Kingdom – Executive Government & Departments

    Press release

    £85 million to support arts and cultural organisations across the country

    Local people’s access to arts venues across the country set to be protected with cash to support vital repairs and upgrades

    • Investment supports the Government’s Plan for Change by helping to boost local economies and increase opportunities to gain creative skills
    • Expressions Of Interest to open at the end of June

    Arts and cultural organisations will soon be able to apply for a share of £85 million from the government for vital repairs and upgrades, ensuring everyone has access to high quality institutions in the places they call home. 

    The new Creative Foundations Fund will help arts venues across England to address a range of issues, such as repairing building infrastructure, outdated or failing systems, inefficient energy systems and inaccessible spaces. It will ensure beloved local venues like theatres, performing arts venues, galleries, grassroots music venues and contemporary arts centres can continue to offer opportunities, boost skills and attract more visitors from across the country.

    Arts and cultural organisations across England are encouraged to apply for a share of up to £10 million each from the fund, which recognises the huge contribution they make towards boosting growth and breaking down barriers to opportunities for young people by helping them to learn vital creative skills. 

    This £85 million investment into arts and cultural organisations is part of the £270 million Arts Everywhere Fund announced by the Culture Secretary in February, which delivers on the government’s Plan for Change to support economic growth and increase opportunities for people across the country.

    Culture Secretary, Lisa Nandy said: 

    Everyone, everywhere, deserves to enjoy arts and culture in the places they call home. This funding will be vital in ensuring that our much loved venues are fit for the future, so they can continue to boost growth and provide young people with the space to learn vital creative skills.

    Our Plan for Change is boosting opportunities everywhere and it will support these vital institutions to flourish.

    Darren Henley, Chief Executive, Arts Council England said: 

    Our cultural buildings are home to thrilling performances and amazing exhibitions in towns and cities across England. This new investment helps to secure the future of those buildings at the heart of their communities, ensuring that artists, performers, curators and creators can continue to share their brilliant work with audiences for years to come.

    The fund will open for Expressions Of Interest on Monday 30 June 2025. Full guidance, including eligibility criteria and details of how to apply, can be found on Arts Council England’s website. 

    Notes to editors:

    •  In February, Culture Secretary, Lisa Nandy announced more than £270 million in funding for arts venues, museums, libraries and the heritage sector in a major boost for growth. 
    • Arts Council England will deliver this fund on behalf of the Department for Culture, Media and Sport (DCMS), including administering, awarding and monitoring the grants.Guidance has been published today by Arts Council England to provide further information for arts and cultural organisations considering making an application to these schemes. 
    • The online portal to register Expressions of Interest for the Creative Foundations Fund opens on Monday 30 June 2025. Full guidance, including eligibility criteria and details of how to apply can be found on Arts Council England’s website.

    Updates to this page

    Published 29 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Wagamama to come to Preston’s Animate

    Source: City of Preston

    29 May 2025

    Preston City Council has announced Asian inspired Japanese restaurant, Wagamama is to open at its newly launched £45million Animate leisure scheme, which has been delivered by Maple Grove Developments. 

    Positioned between Taco Bell and Mad Giant Food Hall, Wagamama has taken a 4,125 sq ft unit on a 15-year lease. The fit out is due to commence imminently and will be open to customers early this summer.

    Open seven days a week, the new restaurant will create 55 new jobs and marks Wagamama’s 167th restaurant in the UK and Ireland and its 59th in the North. The deal means that just one final unit (10,270 sq ft) offering social space on the upper level is now available.

    Animate was officially opened in February by Wallace and Gromit creator Nick Park, with many of the tenants including Ask Italian, Argento Lounge, Taco Bell Hollywood Bowl and ARC Cinemas now trading.

    Sita Wood, head of brand activation (restaurants) at Wagamama said: 

    “We’re incredibly excited to be opening our doors in preston, to meet local demand. our team are hard at work training for our opening, and we can’t wait to welcome our locals to enjoy their fresh favourites on our benches.”

    Cllr Wise at Preston City Council said: 

    “Animate has proven to be an in-demand venue for leisure operators and Wagamama deciding to open a restaurant here is a significant vote of confidence in the destination. It will prove to be a popular restaurant, stimulating additional footfall in the Harris Quarter, catalysing further investment, and boosting our local economy, central to our Community Wealth Building model.”

    Speaking about the arrival of Wagamama John Brady, at Bradys, joint agents for the scheme with Smith Young, commented:

    “Securing Wagamama is a strong endorsement of Preston’s growing appeal as a vibrant retail and leisure destination. The brand brings with it a loyal following and a reputation for quality, which will not only further enhance the visitor experience but also support the wider regeneration of the area by driving increased footfall.”

    The flagship scheme is one of six major projects in Preston’s Harris Quarter Towns Fund Investment Programme, a £200m programme, including £20.9m of funding by the government to support several regeneration projects.

    About Maple Grove Developments

    Maple Grove Developments is part of the Eric Wright Group. Founded in 1923, the Eric Wright Group is a leading property and construction company that develops, builds and maintains the UK’s infrastructure.

    Wholly owned by the Eric Wright Charitable Trust, the Group is committed to delivering employment and regeneration opportunities in the communities in which it operates in. All company profits are either invested back into the Eric Wright Group or awarded to charities and projects, predominately throughout the North West, which support young persons’ wellbeing, elderly services, education and training, health or carers’ support. 

    The Eric Wright Charitable Trust owns and operates Water Park Lakeland Adventure Centre in Cumbria and is an employer partner and sponsor of the Eric Wright Learning Foundation at Preston’s College, which supports young people aged 14+ studying Level 1 – 3 vocational courses and Apprenticeships.

    Based at Bamber Bridge, near Preston, the Eric Wright Group comprises seven specialist divisions that regularly collaborate to deliver joined-up approaches with outstanding results and maintain strong relationships with private and public sector clients and partners. The Group’s seven divisions are Maple Grove Developments, Construction, Civil Engineering, Water, Health & Care, Facilities Management (FM) and Applethwaite Homes. 

    About Animate

    The construction and development phase will help to generate up to 200 full time equivalent construction jobs for the local workforce, and provide opportunities for apprenticeship, work placements, training and upskilling through Eric Wright Group’s corporate and social responsibility programme.   

    A dedicated Animate Community Benefit Framework has been agreed between Preston City Council and Maple Grove Developments, which will deliver 15 community benefits, in line with Preston’s Community Wealth Building programme, to assist the delivery of the project and to provide the maximum impact for Preston’s residents and businesses.  

    The Community Benefit Framework seeks to use local labour, provide training, employment, volunteering opportunities and placements within local colleges, to promote environmental sustainability, and to ensure that all workers are treated equally and fairly. 

    Animate will also provide more than 140 long term jobs when it opens to the public following the two year construction phase.  

    About Towns Fund – Town Deals

    • On 27 July 2019, the Prime Minister announced that the Towns Fund would support an initial 101 places across England to develop Town Deal proposals, to drive economic regeneration and deliver long-term economic and productivity growth. 
    • A Town Deal is an agreement in principle between Government, the Lead Council and the Town Deal Board. It will set out a vision and strategy for the town, and what each party agrees to do to achieve this vision.  
    • Each of the 101 towns selected to work towards a Town Deal also received accelerated funding last year for investment in capital projects that would have an immediate impact and help places “build back better” in the wake of Covid-19. See the 101 places being supported to develop Town Deals.
    • Preston’s City Investment Plan is a 15 year vision for Preston setting out Preston’s long-term objectives and strategy to transform the city, targeting resources and aligning public and private sector investments to respond to needs and capitalise on opportunities for positive change. For details visit Invest – Preston’s City Investment Plan.
    • Preston City Council actively applies and prioritises the principles of Community Wealth Building wherever applicable and appropriate. Community Wealth Building is an approach which aims to ensure the economic system builds wealth and prosperity for everyone. 
    • Lancashire County Council’s £800,000 Economic Recovery grant is from its £12.8m  Economic Recovery & Growth programme to fund projects across the 12 Lancashire districts to tackle some of the economic impacts of Covid-19 and support recovery and growth. 

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Retailers reminded about upcoming June 1 ban on disposable vapes

    Source: City of Leeds

    Shopkeepers across Leeds have been advised to act now in preparation for the disposable vapes ban which comes into force on June 1.

    The new legislation, from the Department for Environment, Food and Rural Affairs (DEFRA), will make it illegal for businesses, including those online, to sell or supply all single-use vapes.

    The ban will apply to England, Wales, Scotland and Northern Ireland and covers both nicotine and non-nicotine containing vaping products, which are not refillable or rechargeable. 

    In line with national policy, Leeds City Council has been writing to retailers across the city ahead of the ban, advising them to stop buying new stock of single-use vapes and sell all existing stock before June 1.

    Businesses are also being reminded of their legal duty to provide collection points for waste vapes to their customers.

    Anyone caught selling or supplying single-use vapes on or after June 1 could face fines or other sanctions.

    The ban has been brought into place to help curb the rise in youth vaping, with national figures from Action on Smoking and Health (ASH) estimating over half of children who use vapes report using disposable models, which often have colourful packaging and sweet flavours.

    Councillor Fiona Venner, Leeds City Council’s executive member for equality, health and wellbeing, said:

    “The incoming ban on disposable vapes is a vital measure towards improving the health of Leeds residents, particularly for our young people, as well as tackling the environmental damage that they cause. I would urge all our retailers to take action now to prepare for the new legislation coming into force.”

    The ban also aims to reduce the damage caused to the environment and wildlife from vapes disposed of in domestic waste and littered across the city, causing the release of harmful substances such as lead and mercury into soil, rivers and streams.

    Used e-cigarettes and disposable vapes should be returned to the shops they were bought from for recycling or taken to the nearest electrical recycling point, which can be found at www.recycleyourelectricals.org.uk. They can also be deposited in the special vape bins at one of the eight waste recycling points in Leeds.

    Councillor Mohammed Rafique, executive member for climate, energy, environment and green space, said:

    “Please do not throw vapes in household green recycling or black wheelie bins due to the risk of fire from the lithium-ion batteries. Recycling your old vapes also helps protect the environment, as they contain valuable materials like metal, plastic and lithium batteries that can be made into new items.”

    Further information for retailers can be found at: https://www.gov.uk/guidance/single-use-vapes-ban

     

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: Resilience Maturity Assessment (ReMA) tool

    Source: UNISDR Disaster Risk Reduction

    What is the ReMA Tool?

    Developed by UNDRR and the Corporate Chief Resilience Officers (CCRO) network, the Resilience Maturity Assessment (ReMA) tool provides a comprehensive self-assessment framework designed to evaluate and enhance your organization’s capacity to withstand disruptions and adapt to change.

    Whether you are a micro enterprise, a small business, or a global corporation, ReMA tool equips you with the insights needed to measure, improve, and disclose your resilience.

    Start your assessment and build a stronger, more resilient future.

    Why is enterprise resilience important?   

    In an age of increasing uncertainty, organizations across all sectors face new and unforeseen challenges that are becoming business as usual. These challenges can stem from climate change, cyber-crime, fraud, AI advancements, or other sources of disruption that could be transformational or reputational.

    Resilience is vital for any enterprise to survive and thrive in a complex and volatile environment. This ability to adapt and grow amid challenges is not only beneficial for the enterprises themselves, but also extends to impact all their stakeholders and surrounding communities.

    The 4 resilience maturity levels

    The four levels represent stages of resilience maturity, serving as convenient boundaries to categorize progress.

    However, it’s important to recognize that resilience maturity is fundamentally subjective. You may find your organization performing well in some areas while needing improvement in others. The maturity level you aim for may also vary depending on your organization’s size, complexity, and priorities. Although Levels 1 to 4 are distinct categories, it’s more accurate to view resilience as a continuous spectrum.

    The model allows you to benchmark your own maturity against certain criteria. This generates a benchmark band which you should strive to achieve.

    The ReMA tool uses six operational pillars that are recurrent in resilience practices to assess enterprise maturity.

    “Business, professional associations and private sector financial institutions, including financial regulators and accounting bodies, as well as philanthropic foundations, to integrate disaster risk management, including business continuity, into business models and practices through disaster-risk-informed investments, especially in micro, small and medium-sized enterprises (p. 23).” 

    – Sendai Framework for Disaster Risk Reduction 2015-2030 

    MIL OSI United Nations News –

  • MIL-OSI Asia-Pac: Invest Hong Kong promotes Hong Kong’s business advantages in Beijing and Tianjin (with photos)

    Source: Hong Kong Government special administrative region

    Invest Hong Kong promotes Hong Kong’s business advantages in Beijing and Tianjin
         During her visit, Ms Lee met with numerous companies to understand their overseas strategies, while promoting Hong Kong business opportunities. She highlighted Hong Kong’s unique role as a “super connector” between the Mainland and global markets under the “one country, two systems” framework. She will also follow up with Beijing-based companies that recently joined the Business Delegation led by the Chief Executive of the Hong Kong Special Administrative Region (HKSAR) to the Middle East.
        
         In Beijing and Tianjin, InvestHK held thematic discussions with organisations such as the China Alcoholic Drinks Association to showcase the immense opportunities for liquor businesses following Hong Kong’s reduction in liquor duty. InvestHK also co-organised a series of promotional activities with industry associations, including policy exchange sessions and seminars on global expansion for F&B enterprises.
     
         InvestHK yesterday (May 28) hosted a thematic roundtable event in Beijing with F&B industry representatives to exchange views on overseas expansion and Hong Kong’s investment policies. Ms Lee explained that Hong Kong serves as a vital bridge between the Mainland and international markets, offering unparalleled business advantages for Mainland enterprises to expand overseas.
     
         “As a world-renowned culinary capital, Hong Kong is an ideal testing ground for F&B brands aiming to internationalise,” said Ms Lee. “The city’s diverse consumer base enables brands to validate product acceptance across cultures. With a robust influx of international visitors, brands can also benefit from strong word-of-mouth marketing. Hong Kong’s mature F&B ecosystem provides an ideal platform for innovation, while local talent with international prospective and global experience offers a solid foundation for international expansion,” she said.
     
         The Head of Tourism and Hospitality at InvestHK, Ms Sindy Wong, gave a detailed overview of Hong Kong’s F&B market advantages and how the city can support Mainland enterprises in scaling their overseas presence. The Associate Director of the Office of the HKSAR Government in Beijing (Beijing Office) , Ms Eunice Chan, delivered  welcome remarks at the event.
     
         InvestHK today (May 29) visited Tianjin to engage with major local wine companies to promote Hong Kong’s latest policies on the alcohol industry. A seminar entitled Leveraging Hong Kong’s Advantages to Support Tianjin F&B Enterprises Going Global was held, co-organised by Hong Kong Bauhinia College and the Tianjin General Chamber of Commerce, and supported by the Tianjin Liaison Unit of the HKSAR Government, the Hong Kong and Macao Affairs Office of Tianjin Municipal People’s Government, and the Tianjin Federation of Industry and Commerce.
     
         In her welcome remarks, Ms Lee said, “Tianjin and Hong Kong have long enjoyed close economic and trade ties. Hong Kong is Tianjin’s largest source of foreign investment and a vital platform for local enterprises to go global. With its unique advantages of having the staunch support of the country while maintaining unparalleled connectivity with the world, Hong Kong’s thriving culinary economy presents opportunities for Mainland brands to grow their brand influence. Tianjin enterprises can leverage Hong Kong’s open and internationalised environment to accelerate their global expansion. “She highlighted Hong Kong’s role as a vital international gateway, capable of helping Tianjin culinary brands set sail for overseas markets and expand their global presence.
     
         Ms Wong shared an in-depth analysis of Hong Kong’s market environment, along with practical case studies, and the HKSAR Government’s latest policies to attract businesses, encouraging them to utilise the Hong Kong platform for outbound investment.
     
         The Chairman of the Tianjin General Chamber of Commerce, Ms Han Xiuyun, delivered welcome remarks, pledging to deepen economic, trade, and investment co-operation, particularly in the catering sector, between Tianjin and Hong Kong, enabling enterprises from both places to capitalise on their respective strengths for mutual development.
     
         During the professional services sharing session, Deputy Director of the Management Committee of Beijing Yingke (Hangzhou) Law Firm and Director of Yingke Global Catering Enterprise (outbound investment) Service Center, Mr Chen Shaojun, and the Chief Immigration Officer of the Beijing Office, Mr Xarier Wong, delivered keynote speeches on Hong Kong’s professional services and talent schemes to attendees. Vice President of Xiabu Xiabu Group, Ms Zhang Yanmei, shared experiences on the company’s business set-up and growth in Hong Kong, encouraging catering businesses to stronglyconsider Hong Kong’s platform for brand internationalisation.
     
         The seminar also featured a Q&A session for enterprises interested in setting up in Hong Kong. Hong Kong representatives addressed their queries in detail. The event attracted more than 80 representatives from Tianjin businesses, institutions, and media.
     
         For photos of the seminar, please visit www.flickr.com/photos/investhk/albums/72177720326484438Issued at HKT 18:42

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Disaster Recovery Center Opens in Russell County

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center Opens in Russell County

    Disaster Recovery Center Opens in Russell County

    FRANKFORT, Ky

    – A Disaster Recovery Center has opened in Russell County to offer in-person support to Kentucky survivors who experienced loss as the result of the severe storms, straight-line winds and tornadoes from May 16-17, 2025

    The new Disaster Recovery Center in Russell County is located at: Russell County Courthouse, 410 Monument Square, Jamestown, KY 42629 Working hours are 9 a

    m

    to 7 p

    m

    Central Time, Monday through Saturday and 1 – 7 p

    m

    Central Time, Sunday

    Disaster Recovery Centers are one-stop shops where you can get information and advice on available assistance from state, federal and community organizations

     You can get help to apply for FEMA assistance, learn the status of your FEMA application, understand the letters you get from FEMA and get referrals to agencies that may offer other assistance

    The U

    S

    Small Business Administration representatives and resources from the Commonwealth are also available at the Disaster Recovery Centers to assist you

    FEMA is encouraging Kentuckians affected by the May tornadoes to apply for federal disaster assistance as soon as possible

    You can visit any Disaster Recovery Center to get in-person assistance

    No appointment is needed

     To find all other center locations, including those in other states, go to fema

    gov/drc or text “DRC” and a Zip Code to 43362

    You don’t have to visit a center to apply for FEMA assistance

     There are other ways to apply: online at DisasterAssistance

    gov, use the FEMA App for mobile devices or call 800-621-3362

    If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service

    When you apply, you will need to provide:A current phone number where you can be contacted

    Your address at the time of the disaster and the address where you are now staying

    Your Social Security Number

    A general list of damage and losses

    Banking information if you choose direct deposit

    If insured, the policy number or the agent and/or the company name

    For more information about Kentucky tornado recovery, visit www

    fema

    gov/disaster/4875

    Follow the FEMA Region 4 X account at x

    com/femaregion4

    martyce

    allenjr
    Wed, 05/28/2025 – 20:05

    MIL OSI USA News –

  • MIL-OSI USA: Disaster Recovery Center Opens in Trigg County

    Source: US Federal Emergency Management Agency 2

    strong>FRANKFORT, Ky. – A Disaster Recovery Center has opened in Trigg County to offer in-person support to Kentucky survivors who experienced loss as the result of the severe storms, straight-line winds and tornadoes from May 16-17, 2025. The new Disaster Recovery Center in Trigg County is located at:
     
    Trigg County Emergency Operations Center, 39 Jefferson St, Cadiz, KY 42211
    Working hours are 9 a.m. to 7 p.m. Central Time, Monday through Saturday and 1 – 7 p.m. Central Time, Sunday.
    Disaster Recovery Centers are one-stop shops where you can get information and advice on available assistance from state, federal and community organizations. You can get help to apply for FEMA assistance, learn the status of your FEMA application, understand the letters you get from FEMA and get referrals to agencies that may offer other assistance. The U.S. Small Business Administration representatives and resources from the Commonwealth are also available at the Disaster Recovery Centers to assist you.
    FEMA is encouraging Kentuckians affected by the May tornadoes to apply for federal disaster assistance as soon as possible. The deadline to apply is July 23.
    You can visit any Disaster Recovery Center to get in-person assistance. No appointment is needed. To find all other center locations, including those in other states, go to fema.gov/drc or text “DRC” and a Zip Code to 43362. 
    You don’t have to visit a center to apply for FEMA assistance. There are other ways to apply: online at DisasterAssistance.gov, use the FEMA App for mobile devices or call 800-621-3362. If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service.
    When you apply, you will need to provide:

    A current phone number where you can be contacted.
    Your address at the time of the disaster and the address where you are now staying.
    Your Social Security Number.
    A general list of damage and losses.
    Banking information if you choose direct deposit.
    If insured, the policy number or the agent and/or the company name.

    For more information about Kentucky tornado recovery, visit www.fema.gov/disaster/4875. Follow the FEMA Region 4 X account at x.com/femaregion4. 

    MIL OSI USA News –

  • MIL-OSI Europe: Silicon Cyprus

    Source: European Investment Bank

    Ioannis Kasinopoulos and his friend Yiannis Zambas set up Electryone AI in 2023 with a “strong belief and no outside financing.” The belief was in their software, which uses artificial intelligence to make batteries that store renewable energy more efficient and profitable. They also believed in the importance of the transition to a clean, green economy. Without external funding, however, belief could only get them so far.

    The two young Cypriots, who had previously been at Meta, McKinsey and Palantir, worked hard to find pre-seed financing and some angel investors from their bases in London and Spain, including Genesis Ventures, a Greek venture capital firm backed by the European Investment Fund. Then they got an unexpected surprise—venture capital financing from their home island, where support for startups has been limited. 33East Venture Capital, a Nicosia-based venture capital fund supported by the Cyprus Equity Fund, started making investments from its €26 million fund this year, and it backed Electryone AI with €400 000 in January.

    “We were very happy to have people from Cyprus being part of this,” says Kasinopoulos, who was born in Nicosia. “We had tried to raise money in Cyprus, but we didn’t really get anywhere. There are companies in the energy space, but they didn’t understand software or venture capital. They wouldn’t take that much risk.”

    For technology and innovation startups in Cyprus, 33East’s new fund could be a gamechanger, reversing a brain drain that has seen talented Cypriots leave, largely for London. Though the Global Entrepreneurship Monitor ranks Cyprus seventh in the European Union for early stage entrepreneurial activity, venture capital investment in Cyprus is scarce, according to a report by the University of Cyprus’s Centre for Entrepreneurship.

    “There has been no formal path for startups to follow, so either companies died or left Cyprus to seek financing,” says Yiannis Eftychiou, one of two 33East cofounders. “There has been a drain of quality talent from Cyprus. But we see a lot of opportunity in Cyprus.”

    MIL OSI Europe News –

  • MIL-OSI Europe: EU Fact Sheets – The European Investment Bank – 28-05-2025

    Source: European Parliament

    The European Investment Bank (EIB) furthers the objectives of the European Union by providing long-term project funding, guarantees and advice. It supports projects both within and outside the EU. Its shareholders are the Member States of the EU. The EIB is the majority shareholder in the European Investment Fund (EIF), and the two organisations together make up the EIB Group.

    MIL OSI Europe News –

  • MIL-OSI Africa: Is Sudan’s war the reason for South Sudan’s economic crisis? What’s really going on with oil revenue

    Source: The Conversation – Africa – By Jan Pospisil, Associate Professor at the Centre for Peace and Security, Coventry University

    The civil war in Sudan between the Sudanese army and paramilitary Rapid Support Forces, which began in April 2023, has had an impact on its neighbours. One of the most keenly affected countries is South Sudan, which became an independent state in 2011 and went on to endure its own civil war. This ended in 2018 with a tenuous peace agreement.

    The impact of the Sudanese war on South Sudan, however, isn’t a straightforward spillover catastrophe. The picture is more nuanced, and this is most clearly seen in South Sudan’s oil economy. Jan Pospisil, who has studied the dynamics in Sudan and South Sudan, explains.

    What is the current status of oil exports from South Sudan through Sudan?

    Landlocked South Sudan is reliant on its neighbour to the north to transport oil from its fields to the international market. Crude oil is transported via pipeline to Port Sudan on the Red Sea.

    However, recent drone strikes on Port Sudan carried out by the Rapid Support Forces targeted power plants that supply electricity to pumping stations along Sudan’s critical oil pipelines.

    Soon after, the Sudanese army formally notified South Sudan that it would have to halt exports. Following hectic negotiations, the South Sudanese government released a statement that the stoppage could be prevented.

    This back and forth has reopened the pressing question of the impact of Sudan’s war on South Sudan’s economy and, in particular, the role of crude oil.

    Assessments of the impact of Sudan’s war on South Sudan suggest the worst: oil revenues would account for 80% of South Sudan’s budget and 90% of its fiscal revenue.

    This informs the International Monetary Fund’s warnings of looming economic collapse in case of a breakdown of oil exports. The predominant view is that a shutdown of the oil pipeline through Sudan would lead to a collapse of dollar inflows to South Sudan, triggering a severe economic crisis.

    However, South Sudan’s 2024-25 budget suggests a high reliance on non-oil revenue.

    In fact, government oil revenues for 2024-25 are based on a volume of only around 16,000 barrels per day. This is the share of total production of about 130,000 barrels per day controlled by South Sudan. Attempts to increase production to pre-war levels of up to 400,000 barrels failed. The substantial drop in production is explained by a decline in the quality of South Sudan’s oil wells, especially in Paloch in the north-east’s Upper Nile State, and Unity State in the north-central region.

    South Sudan additionally lacks the operational capacity to extract the oil it has in the ground.

    The 2024-25 budget projects a hefty fiscal deficit. The revenues projected will cover only about half of total planned state spending. Oil and non-oil revenues – which mainly include tax income from international NGOs and businesses – each account for about half of the revenue that’s expected to come in.

    Oil income has to account for debt (capital and interest) repayments on loans, as well as pipeline transport fees paid to Sudan. This means that even the optimistically assessed net contributions of oil revenue would only pay for 16% of planned government spending. South Sudan remains with a hefty deficit.

    What are the challenges South Sudan is facing in growing oil revenues?

    First, Petronas, a Malaysian multinational oil and gas company, withdrew from South Sudan in August 2024 after three decades.

    It left behind substantial challenges, including an arbitration process worth more US$1 billion. This followed the government preventing Petronas from selling its shares to the British-Nigerian group Savannah Energy.

    As a short-term solution, South Sudan de facto nationalised Petronas’ shares. It did this by transferring the shares to the state’s oil and gas company, Nile Petroleum Corporation (NilePet). This was perhaps in the hope of increasing revenue in the short term.

    However, NilePet hasn’t been able to replace Petronas’ production logistics. This has resulted in huge challenges in restoring production to levels before the 2024 pipeline disruptions.

    A second factor is the sale of oil forward. The then finance minister said in 2022 that most of the oil production had been sold in advance until 2027. He later retracted the statement, saying instead that some oil advances were merely “spread up to 2027”. While this walk-back attempted to soften the political fallout, it reinforced wider uncertainty about how much control NilePet actually retains over the revenues formally under its authority.

    Given the limited relevance of oil revenues for the official South Sudanese budget, why the major concern about disruptions?

    There are three reasons.

    First, NilePet plays a structural role in South Sudan’s informal and often dubious hard currency circulation, which international observers would call large-scale corruption. NilePet’s accounts rarely appear in any official financial accounts and are often channelled off-budget. NilePet functions as a black box within the public finance system where real money flows can only rarely be traced. Recent intentions by the president to structurally reform the company might implicitly confirm this.

    Second, there are indirect oil revenues that are important to the country’s security apparatus. This includes protection rents which come from protecting South Sudanese oil fields. This revenue never hits the budget. It pays the National Security Service either directly as salaries, or is reinvested in the considerable conglomerate of companies owned by the security service to multiply profits. Losing this revenue could destabilise the country because the funds are used to pay the salaries of the best-trained and best-equipped security service in the country.

    Third, South Sudan’s ability to attract new loans depends on the repayment of existing ones. These repayments largely depend on oil production. As the 2024-24 budget shows, South Sudan desperately needs new loans to keep even core state functions operational. Yet, funding from multilateral agencies has dwindled to small-scale loans from the African Development Bank. The International Monetary Fund has currently ended all its funding programmes.

    This is not a result of the war in Sudan. It is due to persistent concerns over insufficient financial governance in South Sudan and the state’s performance. Negotiations with Qatar and the United Arab Emirates for new loans appear to have stalled, not least because of a default in repayments to Qatar.

    These factors show that the flow of oil to Port Sudan is significant to the availability of hard currency in South Sudan’s economy. But this is in more indirect ways than the outdated claim of an 80% budgetary dependency would suggest.

    The war in Sudan has a significant yet multifaceted impact on South Sudan’s economic health. But Juba’s biggest challenges are internal.

    South Sudan’s economy over the last six years has been mainly dependent on international loans coming in – a flow which has now dried up, resulting in a severe economic crisis unprecedented in the young country’s history.

    – Is Sudan’s war the reason for South Sudan’s economic crisis? What’s really going on with oil revenue
    – https://theconversation.com/is-sudans-war-the-reason-for-south-sudans-economic-crisis-whats-really-going-on-with-oil-revenue-257375

    MIL OSI Africa –

  • MIL-OSI Africa: Goldfields Joins Mining in Motion as Bronze Sponsor

    Source: Africa Press Organisation – English (2) – Report:

    ACCRA, Ghana, May 29, 2025/APO Group/ —

    South African-based global mining firm Goldfields has confirmed its participation at the upcoming Mining in Motion Summit – Ghana’s premier gathering for mining stakeholders, scheduled for June 2 – 4, 2025 in Accra – as a bronze sponsor.

    As one of the world’s largest gold producers and a key player in Ghana’s mining landscape, Gold Fields’ involvement signals its deep commitment to the country’s mining sector. Under the theme Sustainable Mining & Local Growth – Leveraging Resources for Global Growth, the summit brings together leading mining firms like Gold Fields, government officials and international stakeholders to shape the future of gold mining in Ghana.

    As a bronze sponsor, Gold Fields will engage in high-level panel discussions, exclusive networking sessions, and project showcases – demonstrating its long-term vision and alignment with Ghana’s goal of using the mining sector as a driver of economic growth.

    In April 2025, Gold Fields received a 12-month renewal of its mining license for the Damang Mine, allowing the company to further invest in infill drilling aimed at extending the mine’s operational life and production capacity.

    Gold Fields also operates the Tarkwa Mine – Africa’s largest open-pit gold mine and a pillar of Ghana’s gold sector – which produces over 551,000 ounces of gold annually. As the company targets a global production range of 2 to 3 million ounces per annum over the next decade, Ghana remains a central hub in achieving that ambition.

    Mining in Motion 2025 provides an invaluable platform for Gold Fields to deepen its engagement with Ghanaian government officials, forge new strategic partnerships, and strengthen existing relationships within the mining ecosystem. The firm’s participation highlights its ongoing role in supporting Ghana’s sustainable development, economic resilience, and leadership in global gold production.

    Organized by the Ashanti Green Initiative – led by Oheneba Kwaku Duah, Prince of Ghana’s Ashanti Kingdom – in collaboration with Ghana’s Ministry of Lands and Natural Resources, World Bank, and the World Gold Council, with the support of Ghana’s Ministry of Lands and Natural Resources, the summit offers unparalleled opportunities to connect with industry leaders.

    MIL OSI Africa –