Category: Business

  • MIL-OSI United Nations: Secretary-General’s remarks to the Security Council – on Maritime Security [bilingual, as delivered. Scroll down for all-English and all-French]

    Source: United Nations secretary general

    I thank the presidency of Greece for convening today’s open debate on the importance of strengthening maritime security through international cooperation.

    This debate underscores first of all that the basic condition to preserve maritime security is the respect by all countries of the UN Charter and international law as reflected in the UN Convention on the Law of the Sea. 

    Mr. President,
     
    From time immemorial, maritime routes have bound the world together.

    They have long been the primary means for the trade and transport of not only people, goods and commodities, but also cultures and ideas.
     
    All of humanity depends on the world’s oceans and seas — from the oxygen we breathe, to the biodiversity that sustains all life, to the economies, trade and jobs supported by maritime industries.

    Today’s debate shines a light on a fundamental fact:

    Without maritime security, there can be no global security.

    But maritime spaces are increasingly under strain from both traditional threats and emerging dangers.

    From challenges around contested boundaries…

    To the depletion of natural resources at sea…
    To escalating geopolitical tensions fanning the flames of competition, conflict and crime.

    Over the years, this Council has sought to address a range of threats that undermine maritime security and global peace.  

    From piracy, armed robbery, trafficking and organized crime…

    To destructive acts against shipping, offshore installations and critical infrastructure…

    To terrorism in the maritime domain, which poses a significant threat to international security, global trade and economic stability.

    No region is spared.  

    And the problem is getting worse.

    After a modest global decrease in reported piracy and armed robbery incidents in 2024, the first quarter of 2025 saw a sharp upward reversal.

    According to the International Maritime Organization, reported incidents rose by nearly half — 47.5 per cent compared to the same period in 2024.

    Incidents in Asia nearly doubled — especially in the Straits of Malacca and Singapore.

    In the Red Sea and Gulf of Aden, attacks by the Houthis on commercial vessels have disrupted global trade and increased tensions in an already volatile region. 

    The Gulf of Aden and the Mediterranean Sea remain treacherously active routes for migrant smuggling and the trafficking of weapons and human beings.

    The Gulf of Guinea continues to grapple with piracy, kidnappings, armed robbery at sea, oil theft, illegal, unreported and unregulated fishing, and the illicit trafficking of drugs, weapons, and people.

    Heroin from Afghanistan continues to reach East Africa through the Indian Ocean.

    Cocaine moves through the coasts of the Western Hemisphere and across the Atlantic Ocean to West Africa and European ports.

    And cyber-attacks are a fast-emerging security threat for ports and shipping companies.

    Facing these and other threats, the world’s maritime routes and the people depending on them are sending a clear SOS.

    Mr. President,

    Across the UN system, our agencies are supporting many regional initiatives that are gathering partners around maritime security across the globe.  

    This includes initiatives to address insecurity from the Gulf of Aden and the Red Sea, to the Gulf of Guinea and the Persian Gulf.

    It includes efforts to ensure safe navigation in the Black Sea.

    It includes our work to help countries build strong maritime forces and legal systems.

    It includes efforts to tackle armed robbery against ships in Asia, and fight piracy off the coast of Somalia. 

    It includes our support of the Yaoundé Architecture for Maritime Security — an interregional, multi-level coordination mechanism to counter piracy in West and Central Africa — which has seen a decline in piracy from 81 incidents in 2020 to just 18 last year.

    And the International Maritime Organization continues to play a fundamental role in de-escalating tensions at sea and bringing together Member States and the shipping industry to find solutions.

    Looking ahead, action is needed in three key areas.

    First — respect for international law.   
     
    Respect for international law is the anchor of maritime security.

    The international legal regime for maritime security — with the UN Charter and the Convention on the Law of the Sea at its core — strikes a careful balance between States’ sovereign rights, jurisdictions and freedoms, and their duties and obligations.  

    And it provides a strong cooperative framework for addressing crimes at sea and ensuring accountability.

    However, this framework is only as strong as States’ commitment to full and effective implementation. 
     
    All States must live up to their obligations.

    And they must resolve any differences in relation to maritime security in accordance with the UN Charter.  

    Second — we need to intensify efforts to address the root causes of maritime insecurity.  
     
    Threats to maritime security cannot be addressed without also addressing issues like poverty, a lack of alternative livelihoods, insecurity, and weak governance structures. 

    Across the United Nations family, we’re working with impoverished coastal communities to develop new opportunities for decent and sustainable work.

    Collectively, we must do more to reduce the likelihood that desperate people will turn to crime and other activities that threaten maritime security and degrade our ocean environment.

    We must help developing countries build their capacity to deal with these threats through technology, training, capacity-building, judicial reforms, and modernized naval forces, marine police units, maritime surveillance and port security. 
    And we need to ensure that our oceans and seas can continue thriving, and support humanity’s economic, social, cultural and environmental development for generations to come.

    The upcoming Oceans Conference in Nice will provide an important moment for the countries of the world to take action.

    Et troisièmement, nous avons besoin de partenariats à tous les niveaux.

    Nous devons associer toutes les parties concernées par les espaces maritimes à l’action menée dans ce domaine.

    Des populations côtières, aux gouvernements, en passant par les groupes régionaux, les compagnies maritimes, les registres d’immatriculation du pavillon, les industries de la pêche et de l’extraction, les compagnies d’assurance et les exploitants portuaires.

    Sans oublier ce Conseil, qui a appelé l’attention sur la sûreté maritime et la nécessité d’agir de manière collective, d’assurer la désescalade et de promouvoir la coopération.

    Ainsi que les groupes de la société civile qui œuvrent en faveur des femmes et des filles, touchées de manière disproportionnée par des fléaux tels que la piraterie et la traite des personnes.

    Alors que les menaces qui pèsent sur la sûreté maritime deviennent de plus en plus complexes et interconnectées, il est essentiel d’améliorer la coordination et de renforcer la gouvernance maritime.

    Monsieur le Président,

    Le système des Nations Unies est prêt à continuer d’aider ce Conseil et tous les États Membres à garantir des espaces maritimes pacifiques, sûrs et prospères pour les générations à venir.
     
    Agissons pour préserver et sécuriser les espaces maritimes, ainsi que les communautés et les personnes qui en dépendent.

    Je vous remercie.

    ******

    [All-English]

    I thank the presidency of Greece for convening today’s open debate on the importance of strengthening maritime security through international cooperation.

    This debate underscores first of all that the basic condition to preserve maritime security is the respect by all countries of the UN Charter and international law as reflected in the UN Convention on the Law of the Sea. 

    Mr. President,
     
    From time immemorial, maritime routes have bound the world together.

    They have long been the primary means for the trade and transport of not only people, goods and commodities, but also cultures and ideas.
     
    All of humanity depends on the world’s oceans and seas — from the oxygen we breathe, to the biodiversity that sustains all life, to the economies, trade and jobs supported by maritime industries.

    Today’s debate shines a light on a fundamental fact:

    Without maritime security, there can be no global security.

    But maritime spaces are increasingly under strain from both traditional threats and emerging dangers.

    From challenges around contested boundaries…

    To the depletion of natural resources at sea…
    To escalating geopolitical tensions fanning the flames of competition, conflict and crime.

    Over the years, this Council has sought to address a range of threats that undermine maritime security and global peace.  

    From piracy, armed robbery, trafficking and organized crime…

    To destructive acts against shipping, offshore installations and critical infrastructure…

    To terrorism in the maritime domain, which poses a significant threat to international security, global trade and economic stability.

    No region is spared.  

    And the problem is getting worse.

    After a modest global decrease in reported piracy and armed robbery incidents in 2024, the first quarter of 2025 saw a sharp upward reversal.

    According to the International Maritime Organization, reported incidents rose by nearly half — 47.5 per cent compared to the same period in 2024.

    Incidents in Asia nearly doubled — especially in the Straits of Malacca and Singapore.

    In the Red Sea and Gulf of Aden, attacks by the Houthis on commercial vessels have disrupted global trade and increased tensions in an already volatile region. 

    The Gulf of Aden and the Mediterranean Sea remain treacherously active routes for migrant smuggling and the trafficking of weapons and human beings.

    The Gulf of Guinea continues to grapple with piracy, kidnappings, armed robbery at sea, oil theft, illegal, unreported and unregulated fishing, and the illicit trafficking of drugs, weapons, and people.

    Heroin from Afghanistan continues to reach East Africa through the Indian Ocean.

    Cocaine moves through the coasts of the Western Hemisphere and across the Atlantic Ocean to West Africa and European ports.

    And cyber-attacks are a fast-emerging security threat for ports and shipping companies.

    Facing these and other threats, the world’s maritime routes and the people depending on them are sending a clear SOS.

    Mr. President,

    Across the UN system, our agencies are supporting many regional initiatives that are gathering partners around maritime security across the globe.  

    This includes initiatives to address insecurity from the Gulf of Aden and the Red Sea, to the Gulf of Guinea and the Persian Gulf.

    It includes efforts to ensure safe navigation in the Black Sea.

    It includes our work to help countries build strong maritime forces and legal systems.

    It includes efforts to tackle armed robbery against ships in Asia, and fight piracy off the coast of Somalia. 

    It includes our support of the Yaoundé Architecture for Maritime Security — an interregional, multi-level coordination mechanism to counter piracy in West and Central Africa — which has seen a decline in piracy from 81 incidents in 2020 to just 18 last year.

    And the International Maritime Organization continues to play a fundamental role in de-escalating tensions at sea and bringing together Member States and the shipping industry to find solutions.

    Looking ahead, action is needed in three key areas.

    First — respect for international law.   
     
    Respect for international law is the anchor of maritime security.

    The international legal regime for maritime security — with the UN Charter and the Convention on the Law of the Sea at its core — strikes a careful balance between States’ sovereign rights, jurisdictions and freedoms, and their duties and obligations.  

    And it provides a strong cooperative framework for addressing crimes at sea and ensuring accountability.

    However, this framework is only as strong as States’ commitment to full and effective implementation. 
     
    All States must live up to their obligations.

    And they must resolve any differences in relation to maritime security in accordance with the UN Charter.  

    Second — we need to intensify efforts to address the root causes of maritime insecurity.  
     
    Threats to maritime security cannot be addressed without also addressing issues like poverty, a lack of alternative livelihoods, insecurity, and weak governance structures. 

    Across the United Nations family, we’re working with impoverished coastal communities to develop new opportunities for decent and sustainable work.

    Collectively, we must do more to reduce the likelihood that desperate people will turn to crime and other activities that threaten maritime security and degrade our ocean environment.

    We must help developing countries build their capacity to deal with these threats through technology, training, capacity-building, judicial reforms, and modernized naval forces, marine police units, maritime surveillance and port security. 
    And we need to ensure that our oceans and seas can continue thriving, and support humanity’s economic, social, cultural and environmental development for generations to come.

    The upcoming Oceans Conference in Nice will provide an important moment for the countries of the world to take action.

    And third — throughout, we need partnerships.

    We must involve everyone with a stake in maritime spaces. 

    From coastal communities to governments and regional groups.

    To shipping companies, flag registries, the fishing and extraction industries, insurers and port operators.

    To this very Council, which has drawn attention to maritime security and the need for collective action, de-escalation, and cooperation. 

    And to civil society groups focused on women and girls, who are disproportionately affected by challenges like piracy and human trafficking.

    As threats to maritime security are becoming more complex and interconnected, enhanced coordination and stronger maritime governance are essential.

    Mr. President, 
     
    The UN system stands ready to continue to support this Council and all Member States in ensuring peaceful, secure and prosperous maritime spaces for generations to come. 
     
    Let’s take action to support and secure maritime spaces, and the communities and people counting on them.

    Thank you.

    *****
    [All-French]

    Je remercie la présidence grecque d’avoir organisé le débat public d’aujourd’hui sur l’importance du renforcement de la sûreté maritime par la coopération internationale aux fins de la stabilité mondiale.

    Ce débat souligne tout d’abord que la condition fondamentale pour préserver la sécurité maritime est le respect par tous les pays de la Charte des Nations unies et du droit international tel qu’il est reflété dans la Convention des Nations Unies sur le droit de la mer. 

    Monsieur le Président,

    Depuis des temps immémoriaux, les routes maritimes unissent le monde.

    Elles sont depuis toujours le principal vecteur d’échanges commerciaux et de transport des personnes, des biens et des marchandises, mais aussi de diffusion des cultures et des idées.

    L’humanité tout entière dépend des océans et des mers de la planète, non seulement pour l’oxygène que nous respirons et la biodiversité qui permet à la vie d’exister, mais aussi parce qu’ils sont vitaux pour les économies, le commerce et les emplois liés aux industries maritimes.

    Le débat d’aujourd’hui met en lumière un fait fondamental :

    Sans sûreté maritime, il ne saurait y avoir de sécurité mondiale.

    Mais les espaces maritimes sont de plus en plus menacés par des périls anciens et nouveaux.

    Des difficultés liées à des frontières contestées…

    À l’épuisement des ressources naturelles de l’océan…

    En passant par l’escalade des tensions géopolitiques qui attisent les flammes de la concurrence, des conflits et de la criminalité.

    Au fil des ans, ce Conseil s’est efforcé de répondre à une série de menaces qui compromettent la sûreté maritime et la paix mondiale.

    La piraterie, le vol à main armée, le trafic et le crime organisé…

    Les actes de destruction visant le transport maritime, les installations situées au large des côtes et les infrastructures critiques…

    Mais aussi le terrorisme maritime, qui fait peser une terrible menace sur la sécurité internationale, le commerce mondial et la stabilité économique.

    Aucune région n’est épargnée.

    Et le problème ne cesse de s’aggraver.

    Après une modeste diminution des actes de piraterie et des vols à main armée signalés à l’échelle mondiale en 2024, un fort regain a été enregistré au premier trimestre de 2025.

    Selon l’Organisation maritime internationale, le nombre d’attaques a augmenté de près de moitié (47,5 %) par rapport à la même période en 2024.

    En Asie, il a presque doublé, en particulier dans les détroits de Malacca et de Singapour.

    En mer Rouge et dans le golfe d’Aden, les attaques menées par les houthistes contre des navires commerciaux ont perturbé les échanges mondiaux et accru les tensions dans une région déjà instable.

    Le golfe d’Aden et la mer Méditerranée restent des itinéraires périlleux utilisés pour le trafic de migrants et d’armes et pour la traite des personnes.

    Le golfe de Guinée demeure aux prises avec la piraterie, les enlèvements, les vols à main armée en mer, le vol de pétrole, la pêche illicite, non déclarée et non réglementée, et le trafic de drogues, d’armes et d’êtres humains.

    L’héroïne en provenance d’Afghanistan continue d’arriver en Afrique de l’Est par l’océan Indien.

    La cocaïne passe par les côtes des Amériques et traverse l’océan Atlantique pour atteindre l’Afrique de l’Ouest et les ports européens.

    Les cyberattaques, qui sont en pleine expansion, constituent une menace pour la sécurité des ports et des compagnies maritimes.

    Alors que se multiplient les périls, des routes maritimes du monde et des populations qui en dépendent nous parvient un message de détresse.

    Monsieur le Président,

    Les organismes des Nations Unies soutiennent de nombreuses initiatives régionales qui rassemblent des partenaires du monde entier autour de la sûreté maritime.

    Il s’agit notamment de projets de lutte contre l’insécurité maritime, du golfe d’Aden à la mer Rouge, et du golfe de Guinée au golfe Persique…

    Des efforts visant à garantir la sécurité de la navigation en mer Noire…

    De l’action que nous menons pour aider les pays à bâtir leurs forces maritimes et à se doter de systèmes juridiques solides…

    Des efforts déployés pour lutter contre les vols à main armée dont sont victimes des navires en Asie et contre la piraterie qui sévit au large des côtes somaliennes…

    Et du soutien que nous apportons à l’Architecture de Yaoundé pour la sécurité maritime, mécanisme de coordination interrégional à plusieurs niveaux destiné à combattre la piraterie en Afrique de l’Ouest et en Afrique centrale, qui a permis de porter le nombre d’actes de piraterie de 81 en 2020 à seulement 18 l’année dernière.

    L’Organisation maritime internationale continue en outre de jouer un rôle fondamental pour ce qui est de désamorcer les tensions en mer et d’aider les États Membres et le secteur du transport maritime à trouver des solutions concertées.

    Pour l’avenir, des mesures devront être prises dans trois domaines clés.

    Premièrement, le respect du droit international.

    Le respect du droit international est la condition première de la sûreté maritime.

    Le régime juridique international en la matière, fondé sur la Charte des Nations Unies et la Convention sur le droit de la mer, établit un équilibre délicat entre les droits souverains, la juridiction et les libertés des États, d’une part, et leurs devoirs et obligations, d’autre part.

    Il constitue également un cadre de coopération solide permettant de lutter contre les crimes commis en mer et de veiller à ce que les responsabilités soient établies.

    Toutefois, son efficacité dépend de la volonté des États d’en assurer la mise en œuvre pleine et effective.

    Tous les États doivent respecter leurs obligations.

    Et ils doivent résoudre tout différend relatif à la sûreté maritime conformément à la Charte des Nations Unies.

    Deuxièmement, nous devons redoubler d’efforts pour nous attaquer aux causes profondes de l’insécurité maritime.

    On ne saurait conjurer les menaces qui pèsent sur la sûreté maritime sans affronter également des problèmes tels que la pauvreté, l’absence de moyens de subsistance, l’insécurité et la faiblesse des structures de gouvernance.

    L’ensemble du système des Nations Unies s’emploie, aux côtés des communautés côtières pauvres, à créer de nouvelles possibilités de travail décent et durable.

    Collectivement, nous devons faire davantage pour réduire la probabilité que des personnes désespérées se tournent vers la criminalité et d’autres activités qui menacent la sûreté maritime et dégradent notre environnement océanique.

    Nous devons aider les pays en développement à renforcer leur capacité de faire face à ces menaces par la technologie, la formation, le renforcement des institutions et la mise en œuvre de réformes judiciaires, ainsi que par la modernisation des forces navales, des unités de police maritime, de la surveillance maritime et de la sécurité portuaire.

    Et nous devons veiller à ce que nos océans et nos mers puissent continuer de prospérer et de soutenir le développement économique, social, culturel et environnemental de l’humanité pour les générations à venir.

    La prochaine Conférence sur l’océan, qui se tiendra à Nice, sera pour les pays du monde entier une occasion décisive de passer à l’action.

    Et troisièmement, nous avons besoin de partenariats à tous les niveaux.

    Nous devons associer toutes les parties concernées par les espaces maritimes à l’action menée dans ce domaine.

    Des populations côtières, aux gouvernements, en passant par les groupes régionaux, les compagnies maritimes, les registres d’immatriculation du pavillon, les industries de la pêche et de l’extraction, les compagnies d’assurance et les exploitants portuaires.

    Sans oublier ce Conseil, qui a appelé l’attention sur la sûreté maritime et la nécessité d’agir de manière collective, d’assurer la désescalade et de promouvoir la coopération.

    Ainsi que les groupes de la société civile qui œuvrent en faveur des femmes et des filles, touchées de manière disproportionnée par des fléaux tels que la piraterie et la traite des personnes.

    Alors que les menaces qui pèsent sur la sûreté maritime deviennent de plus en plus complexes et interconnectées, il est essentiel d’améliorer la coordination et de renforcer la gouvernance maritime.

    Monsieur le Président,

    Le système des Nations Unies est prêt à continuer d’aider ce Conseil et tous les États Membres à garantir des espaces maritimes pacifiques, sûrs et prospères pour les générations à venir.
     
    Agissons pour préserver et sécuriser les espaces maritimes, ainsi que les communautés et les personnes qui en dépendent.

    Je vous remercie.

    MIL OSI United Nations News

  • MIL-OSI: BW Offshore: Successful handover of BW Adolo operations to BW Energy Gabon SA

    Source: GlobeNewswire (MIL-OSI)

    Successful handover of BW Adolo operations to BW Energy Gabon SA

    BW Offshore Limited (“BW Offshore”) and BW Energy Limited (“BW Energy”) announce that, with effect from 20 May 2025, operations and maintenance (“O&M”) of the FPSO BW Adolo have been handed over to BW Energy’s subsidiary, BW Energy Gabon SA (“BW Energy Gabon”).

    Under an amended bareboat charter, BW Offshore’s subsidiary retains ownership of the unit and will continue to lease the FPSO to BW Energy Gabon on the same terms as previously agreed without the O&M services. The charter includes a mutual put-and-call option on the FPSO for USD 100 million, exercisable in 2028. The parties have been working and will continue to work together on the transition until 30 June 2025 to ensure a safe and uninterrupted transfer of operations.

    “Transferring daily operational control of BW Adolo to BW Energy Gabon is a natural step given their growing presence in Gabon and potential to capture efficiencies across the local organisation,” said Marco Beenen, the CEO of BW Offshore. “The seamless execution reflects the commitment of both teams to safeguard personnel, the environment, and asset integrity.”

    “Assuming full O&M responsibility will allow BW Energy Gabon to optimise field performance and capture additional synergies across the Dussafu hub. We thank BW Offshore for its exemplary stewardship of the vessel and its continued support during the transition phase,” said Carl K. Arnet, the CEO of BW Energy.

    Both companies extend their appreciation to all offshore and onshore personnel who have maintained BW Adolo in a safe and efficient manner over the past seven years and look forward to sustained strong operational performance under BW Energy’s leadership. The unit remains deployed on the Dussafu Marin licence offshore Gabon, where it has produced safely since first oil in 2018.

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

    IR@bwoffshore.com or www.bwoffshore.com

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

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

    The MIL Network

  • MIL-OSI: BW Energy: Successful handover of BW Adolo operations to BW Energy Gabon SA

    Source: GlobeNewswire (MIL-OSI)

    Successful handover of BW Adolo operations to BW Energy Gabon SA

    BW Offshore Limited (“BW Offshore”) and BW Energy Limited (“BW Energy”) announce that, with effect from 20 May 2025, operations and maintenance (“O&M”) of the FPSO BW Adolo have been handed over to BW Energy’s subsidiary, BW Energy Gabon SA (“BW Energy Gabon”).

    Under an amended bareboat charter, BW Offshore’s subsidiary retains ownership of the unit and will continue to lease the FPSO to BW Energy Gabon on the same terms as previously agreed without the O&M services. The charter includes a mutual put-and-call option on the FPSO for USD 100 million, exercisable in 2028. The parties have been working and will continue to work together on the transition until 30 June 2025 to ensure a safe and uninterrupted transfer of operations.

    “Transferring daily operational control of BW Adolo to BW Energy Gabon is a natural step given their growing presence in Gabon and potential to capture efficiencies across the local organisation,” said Marco Beenen, the CEO of BW Offshore. “The seamless execution reflects the commitment of both teams to safeguard personnel, the environment, and asset integrity.”

    “Assuming full O&M responsibility will allow BW Energy Gabon to optimise field performance and capture additional synergies across the Dussafu hub. We thank BW Offshore for its exemplary stewardship of the vessel and its continued support during the transition phase,” said Carl K. Arnet, the CEO of BW Energy.

    Both companies extend their appreciation to all offshore and onshore personnel who have maintained BW Adolo in a safe and efficient manner over the past seven years and look forward to sustained strong operational performance under BW Energy’s leadership. The unit remains deployed on the Dussafu Marin licence offshore Gabon, where it has produced safely since first oil in 2018.

    For further information, please contact:
    Brice Morlot, CFO BW Energy
    +33.7.81.11.41.16
    ir@bwenergy.com 

    About BW Energy 
    BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 (“PEL 73”) in Namibia. Total net 2P+2C reserves and resources were 599 million barrels of oil equivalent at the start of 2025.

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

    The MIL Network

  • MIL-OSI: Urban Grid Advances Pollinator Research with New Apiary at Virginia Solar Site

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, May 20, 2025 (GLOBE NEWSWIRE) — To mark World Bee Day, Urban Grid proudly announces the launch of its first solar apiary at Crystal Hill Solar in Halifax County, Virginia. This initiative expands the company’s growing agrivoltaics program, bringing together clean energy production, pollinator health and regenerative land management on one site.

    The apiary—home to ten hives and a half million bees—is expected to yield more than 400 pounds of honey annually. With lamb already produced through on-site grazing, the addition of honey expands Crystal Hill Solar’s role as a source of nourishment for the community. The honey will be shared with local food banks, schools and faith-based organizations, further connecting solar infrastructure to local food systems.

    “This is the ripple effect of American made energy—when we use the land well, solar can strengthen the local economy, support farmers and deliver real benefits to the communities we’re part of,” said Val Newcomb, Vice President of Economic and Community Development at Urban Grid. “For more than a year, we’ve been grazing sheep on this facility to manage vegetation in a way that supports soil health and agricultural viability. While Crystal Hill Solar quietly delivers much-needed power to the Commonwealth, local farmers there have been raising grass-fed lamb and helping to build a new sheep economy in southern Virginia. Honey production adds another layer of agricultural value to this site, deepening our connection to the land and community.”

    Developed in partnership with Siller Pollinator Company, the apiary will serve as a living laboratory. Together, Urban Grid and Siller’s founding farmer Allison Wickham are launching a multi-year study of pollinator activity and plant diversity on solar land. The program includes vegetation monitoring, soil sampling and honey analysis to understand how pollinators interact with the solar environment—and what that means for the surrounding ecosystem.

    “We’re not just placing hives on a solar site—we’re farming this land,” said Wickham. “We’ll be analyzing pollen to identify what species bees are foraging, measuring vegetation changes over time and comparing site conditions near and far from the hives. This kind of research can help shape smarter, more sustainable solar land use across the country and provide greater opportunities to a wider range of farmers and land managers. To celebrate World Bee Day, we are honored to start a honeybee husbandry program with Urban Grid that will serve as an operational and scientific model for honey-production based land management in this and future agrivoltaics sites. We look forward to sharing data on the resulting food production from this project.”

    Next, Wickham will plant a 3-acre rotational crop pilot within the array closest to the hives, enabling Urban Grid to study ways in which additional farming options can be introduced on its facilities.

    “This pilot gives us the chance to research pollinator impacts on the local community,” said Jeff Hudson, Vice President of Asset Management at Urban Grid. “By installing the hives on the edge of the project we can study the impacts across a significant portion of the land, which allows us to measure pollination benefits for local farmland. In the end, improving vegetation while producing energy is the goal—this is a business, and these innovations help us operate smarter while creating shared value for the communities we’re in.”

    Honey samples from Crystal Hill will contribute to the growing body of data from agrivoltaics sites and guide practical land management strategies, helping Urban Grid better understand how pollinators interact with solar-managed landscapes. These insights will shape habitat design, vegetation planning and ecological performance across the company’s portfolio, as Urban Grid works to expand this model—integrating beekeeping and grazing practices into future projects to holistically restore habitat, support local agriculture and uphold its commitment to being responsible land stewards.

    About Urban Grid
    Urban Grid, a leading independent power producer, facilitates a rapid and sustainable energy transition by developing high-quality renewable energy projects, fostering community partnerships and serving as a good land steward. Our company is positioned to develop, own and operate its facilities while cultivating a land management system that benefits farmers, communities and the natural world through agrivoltaics. Urban Grid maintains a delivery-focused approach with the goal of being a good neighbor, corporate citizen and trusted energy solutions partner. Headquartered in Houston, Texas, with teams situated strategically throughout the United States, Urban Grid has a long history of contributing to the clean energy economy. In addition to 940 megawatts currently under construction, we are actively developing a growing portfolio of more than 12,000 megawatts of solar PV and 7,000 megawatts of co-located and stand-alone energy storage.

    Urban Grid is a portfolio company of Brookfield, one of the world’s largest owners and operators of renewable power and climate transition assets.

    Learn more: www.urbangridsolar.com

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/04f677a9-a405-4d63-9386-c7ab191a47e1
    https://www.globenewswire.com/NewsRoom/AttachmentNg/4f027fac-f048-49c2-9a7e-762302011dbf

    The MIL Network

  • MIL-OSI Global: Independence Hall, Gettysburg and – Epcot? How Reagan helped elevate Disney to America’s roster of honored patriotic sites

    Source: The Conversation – USA – By Bethanee Bemis, Museum Specialist, National Museum of American History, Smithsonian Institution

    First lady Nancy Reagan kisses Mickey Mouse as President Ronald Reagan and Minnie Mouse watch 20 bands marching in the unofficial inaugural parade at Disney’s Epcot Center on Memorial Day, May 27, 1985. Bettmann/Getty Images

    A presidential or political visit is one of the ways in which the United States marks places as uniquely important. A space meriting the pomp and circumstance that accompanies a president, or a place viewed as so particularly American that an aspiring president might want to have their picture taken there, takes on special status in American culture.

    Twelve of the last 14 presidents visited Philadelphia’s Independence Hall during their political careers. American politicians often visit sites of great importance to the national character, and Independence Hall is the location of both the signing of the Declaration of Independence and the drafting of the Constitution.

    The U.S. has many sacred civil spaces, places that the country looks to when celebrating or reflecting on American identity. Some of these places were established for the express purpose of serving these functions: the National Mall and the U.S. Capitol in Washington and the Gateway Arch in St. Louis, built to commemorate the country’s westward expansion.

    Some of these places earn this designation through association with history: Lexington and Concord in Massachusetts, sites of significant events in the American Revolution; the Pearl Harbor National Memorial, commemorating American deaths from the Japanese attack that sparked U.S. entrance into World War II; and the Edmund Pettus Bridge in Selma, Alabama, where local police in 1965 attacked and bloodied civil rights protesters, who ultimately crossed the bridge two weeks later under the protection of a federal court order.

    Still other places emerge through a sort of national consensus, taking on special status over time as Americans use them in ways that mark them with meaning.

    And while twelve of the last 14 presidents may have visited Independence Hall, the same 12 also visited some of the places often forgotten when accounting for holy civic sites: the Disney theme parks.

    Thousands attended presidential candidate Hillary Clinton’s election eve rally at Independence Hall in Philadelphia on Nov. 7, 2016.
    Joe Sohm, Visions of America/Universal Images Group via Getty Images

    Record cold and a second chance

    In my book “Disney Theme Parks and America’s National Narratives: Mirror Mirror for Us All,” I explore how Disneyland in Anaheim, California, and Walt Disney World, near Orlando, Florida, have become two of the most important spaces for the celebration and creation of American identity.

    One of the reasons for this is the legitimization a presidential visit bestows on a site. Forty years ago this month, Walt Disney World received a very special visitor.

    In January 1985, as President Ronald Reagan prepared to take the oath of office for a second time, temperatures in the Washington area dipped to record lows. The inauguration and some related festivities were due to take place outdoors, but conditions were severe enough to cause concern for the many thousands scheduled to participate. So the usual celebrations, including the popular Inaugural Parade, were canceled in favor of a smaller event indoors.

    Only a handful of the 25 high school marching bands that had traveled from places like Kentucky, Massachusetts and Michigan to play in the parade were able to perform for the president. That left thousands of students and their families disappointed.

    In a presidential history first, however, the Inaugural Bands Parade would get a second chance to march outside the ceremonial space of Washington at what could be called the nation’s other capital – Walt Disney World.

    In April 1985, Walt Disney World announced that it had partnered with Days Inn, Greyhound Bus Lines and Burger King to offer reduced price accommodations and food for about 4,000 students to enjoy a weekend at the theme park before performing in their own parade on Memorial Day, May 27.

    Not only would the bands get to play at Disney’s Epcot Center, but they would also be able to perform for the president, who flew from Washington to be there for this special parade.

    President George H.W. Bush at a Disney World 20th anniversary celebration marking his volunteerism initiative, on Sept. 30, 1991.
    Dirck Halstead/Contributor/The Chronicle Collection, Getty Images

    New site for American identity

    Memorial Day, the day of the parade itself, was warm and sunny. Disney visitors thronged the 1.2-mile parade route and waved American flags as they listened to patriotic songs. The parade was watched over by the president and first lady, Nancy Reagan. The equivalent of the president and first lady of Disney, Mickey and Minnie Mouse, joined them.

    This moment was remarkable for several reasons.

    First, Reagan had been one of the hosts of the show “Dateline Disneyland,” the live coverage of the opening of Disneyland in 1955 only 30 years before, when no one knew he would be the nation’s 40th president.

    Second, the visit marked an important moment in the recognition of the Disney theme parks as sites of American identity.

    Reagan went directly from laying wreaths at Arlington National Cemetery on Memorial Day, a treasured American tradition, to an appearance at Epcot, where in an economic policy speech to the crowd, he introduced a “new American revolution.” This second American revolution was announced not in front of Independence Hall in Philadelphia, but at the American Adventure pavilion in Orlando.

    The Reagans’ photo with Mickey – with Mickey dressed as Uncle Sam and Minnie in a colonial-style dress – captures the idea, I believe, that culturally Disney spaces are as legitimate as national parks or historic sites as places for the celebration of the American story.

    As longtime Disney cast member Terry Brinkoetter remembers, presidential visits like Reagan’s affirmed Disneyland and Walt Disney World as “places where people could learn and be inspired to continue our shared journey toward a more perfect union.”

    Disney parks have become stops on a secular pilgrimage made by presidents and ordinary citizens alike, places to understand what it means to be an American.

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

    ref. Independence Hall, Gettysburg and – Epcot? How Reagan helped elevate Disney to America’s roster of honored patriotic sites – https://theconversation.com/independence-hall-gettysburg-and-epcot-how-reagan-helped-elevate-disney-to-americas-roster-of-honored-patriotic-sites-254919

    MIL OSI – Global Reports

  • MIL-OSI Africa: Secretary-General’s remarks to the Security Council – on Maritime Security [bilingual, as delivered. Scroll down for all-English and all-French]

    Source: United Nations – English

    thank the presidency of Greece for convening today’s open debate on the importance of strengthening maritime security through international cooperation.

    This debate underscores first of all that the basic condition to preserve maritime security is the respect by all countries of the UN Charter and international law as reflected in the UN Convention on the Law of the Sea. 

    Mr. President,
     
    From time immemorial, maritime routes have bound the world together.

    They have long been the primary means for the trade and transport of not only people, goods and commodities, but also cultures and ideas.
     
    All of humanity depends on the world’s oceans and seas — from the oxygen we breathe, to the biodiversity that sustains all life, to the economies, trade and jobs supported by maritime industries.

    Today’s debate shines a light on a fundamental fact:

    Without maritime security, there can be no global security.

    But maritime spaces are increasingly under strain from both traditional threats and emerging dangers.

    From challenges around contested boundaries…

    To the depletion of natural resources at sea…
    To escalating geopolitical tensions fanning the flames of competition, conflict and crime.

    Over the years, this Council has sought to address a range of threats that undermine maritime security and global peace.  

    From piracy, armed robbery, trafficking and organized crime…

    To destructive acts against shipping, offshore installations and critical infrastructure…

    To terrorism in the maritime domain, which poses a significant threat to international security, global trade and economic stability.

    No region is spared.  

    And the problem is getting worse.

    After a modest global decrease in reported piracy and armed robbery incidents in 2024, the first quarter of 2025 saw a sharp upward reversal.

    According to the International Maritime Organization, reported incidents rose by nearly half — 47.5 per cent compared to the same period in 2024.

    Incidents in Asia nearly doubled — especially in the Straits of Malacca and Singapore.

    In the Red Sea and Gulf of Aden, attacks by the Houthis on commercial vessels have disrupted global trade and increased tensions in an already volatile region. 

    The Gulf of Aden and the Mediterranean Sea remain treacherously active routes for migrant smuggling and the trafficking of weapons and human beings.

    The Gulf of Guinea continues to grapple with piracy, kidnappings, armed robbery at sea, oil theft, illegal, unreported and unregulated fishing, and the illicit trafficking of drugs, weapons, and people.

    Heroin from Afghanistan continues to reach East Africa through the Indian Ocean.

    Cocaine moves through the coasts of the Western Hemisphere and across the Atlantic Ocean to West Africa and European ports.

    And cyber-attacks are a fast-emerging security threat for ports and shipping companies.

    Facing these and other threats, the world’s maritime routes and the people depending on them are sending a clear SOS.

    Mr. President,

    Across the UN system, our agencies are supporting many regional initiatives that are gathering partners around maritime security across the globe.  

    This includes initiatives to address insecurity from the Gulf of Aden and the Red Sea, to the Gulf of Guinea and the Persian Gulf.

    It includes efforts to ensure safe navigation in the Black Sea.

    It includes our work to help countries build strong maritime forces and legal systems.

    It includes efforts to tackle armed robbery against ships in Asia, and fight piracy off the coast of Somalia. 

    It includes our support of the Yaoundé Architecture for Maritime Security — an interregional, multi-level coordination mechanism to counter piracy in West and Central Africa — which has seen a decline in piracy from 81 incidents in 2020 to just 18 last year.

    And the International Maritime Organization continues to play a fundamental role in de-escalating tensions at sea and bringing together Member States and the shipping industry to find solutions.

    Looking ahead, action is needed in three key areas.

    First — respect for international law.   
     
    Respect for international law is the anchor of maritime security.

    The international legal regime for maritime security — with the UN Charter and the Convention on the Law of the Sea at its core — strikes a careful balance between States’ sovereign rights, jurisdictions and freedoms, and their duties and obligations.  

    And it provides a strong cooperative framework for addressing crimes at sea and ensuring accountability.

    However, this framework is only as strong as States’ commitment to full and effective implementation. 
     
    All States must live up to their obligations.

    And they must resolve any differences in relation to maritime security in accordance with the UN Charter.  

    Second — we need to intensify efforts to address the root causes of maritime insecurity.  
     
    Threats to maritime security cannot be addressed without also addressing issues like poverty, a lack of alternative livelihoods, insecurity, and weak governance structures. 

    Across the United Nations family, we’re working with impoverished coastal communities to develop new opportunities for decent and sustainable work.

    Collectively, we must do more to reduce the likelihood that desperate people will turn to crime and other activities that threaten maritime security and degrade our ocean environment.

    We must help developing countries build their capacity to deal with these threats through technology, training, capacity-building, judicial reforms, and modernized naval forces, marine police units, maritime surveillance and port security. 
    And we need to ensure that our oceans and seas can continue thriving, and support humanity’s economic, social, cultural and environmental development for generations to come.

    The upcoming Oceans Conference in Nice will provide an important moment for the countries of the world to take action.

    Et troisièmement, nous avons besoin de partenariats à tous les niveaux.

    Nous devons associer toutes les parties concernées par les espaces maritimes à l’action menée dans ce domaine.

    Des populations côtières, aux gouvernements, en passant par les groupes régionaux, les compagnies maritimes, les registres d’immatriculation du pavillon, les industries de la pêche et de l’extraction, les compagnies d’assurance et les exploitants portuaires.

    Sans oublier ce Conseil, qui a appelé l’attention sur la sûreté maritime et la nécessité d’agir de manière collective, d’assurer la désescalade et de promouvoir la coopération.

    Ainsi que les groupes de la société civile qui œuvrent en faveur des femmes et des filles, touchées de manière disproportionnée par des fléaux tels que la piraterie et la traite des personnes.

    Alors que les menaces qui pèsent sur la sûreté maritime deviennent de plus en plus complexes et interconnectées, il est essentiel d’améliorer la coordination et de renforcer la gouvernance maritime.

    Monsieur le Président,

    Le système des Nations Unies est prêt à continuer d’aider ce Conseil et tous les États Membres à garantir des espaces maritimes pacifiques, sûrs et prospères pour les générations à venir.
     
    Agissons pour préserver et sécuriser les espaces maritimes, ainsi que les communautés et les personnes qui en dépendent.

    Je vous remercie.

    ******

    [All-English]

    I thank the presidency of Greece for convening today’s open debate on the importance of strengthening maritime security through international cooperation.

    This debate underscores first of all that the basic condition to preserve maritime security is the respect by all countries of the UN Charter and international law as reflected in the UN Convention on the Law of the Sea. 

    Mr. President,
     
    From time immemorial, maritime routes have bound the world together.

    They have long been the primary means for the trade and transport of not only people, goods and commodities, but also cultures and ideas.
     
    All of humanity depends on the world’s oceans and seas — from the oxygen we breathe, to the biodiversity that sustains all life, to the economies, trade and jobs supported by maritime industries.

    Today’s debate shines a light on a fundamental fact:

    Without maritime security, there can be no global security.

    But maritime spaces are increasingly under strain from both traditional threats and emerging dangers.

    From challenges around contested boundaries…

    To the depletion of natural resources at sea…
    To escalating geopolitical tensions fanning the flames of competition, conflict and crime.

    Over the years, this Council has sought to address a range of threats that undermine maritime security and global peace.  

    From piracy, armed robbery, trafficking and organized crime…

    To destructive acts against shipping, offshore installations and critical infrastructure…

    To terrorism in the maritime domain, which poses a significant threat to international security, global trade and economic stability.

    No region is spared.  

    And the problem is getting worse.

    After a modest global decrease in reported piracy and armed robbery incidents in 2024, the first quarter of 2025 saw a sharp upward reversal.

    According to the International Maritime Organization, reported incidents rose by nearly half — 47.5 per cent compared to the same period in 2024.

    Incidents in Asia nearly doubled — especially in the Straits of Malacca and Singapore.

    In the Red Sea and Gulf of Aden, attacks by the Houthis on commercial vessels have disrupted global trade and increased tensions in an already volatile region. 

    The Gulf of Aden and the Mediterranean Sea remain treacherously active routes for migrant smuggling and the trafficking of weapons and human beings.

    The Gulf of Guinea continues to grapple with piracy, kidnappings, armed robbery at sea, oil theft, illegal, unreported and unregulated fishing, and the illicit trafficking of drugs, weapons, and people.

    Heroin from Afghanistan continues to reach East Africa through the Indian Ocean.

    Cocaine moves through the coasts of the Western Hemisphere and across the Atlantic Ocean to West Africa and European ports.

    And cyber-attacks are a fast-emerging security threat for ports and shipping companies.

    Facing these and other threats, the world’s maritime routes and the people depending on them are sending a clear SOS.

    Mr. President,

    Across the UN system, our agencies are supporting many regional initiatives that are gathering partners around maritime security across the globe.  

    This includes initiatives to address insecurity from the Gulf of Aden and the Red Sea, to the Gulf of Guinea and the Persian Gulf.

    It includes efforts to ensure safe navigation in the Black Sea.

    It includes our work to help countries build strong maritime forces and legal systems.

    It includes efforts to tackle armed robbery against ships in Asia, and fight piracy off the coast of Somalia. 

    It includes our support of the Yaoundé Architecture for Maritime Security — an interregional, multi-level coordination mechanism to counter piracy in West and Central Africa — which has seen a decline in piracy from 81 incidents in 2020 to just 18 last year.

    And the International Maritime Organization continues to play a fundamental role in de-escalating tensions at sea and bringing together Member States and the shipping industry to find solutions.

    Looking ahead, action is needed in three key areas.

    First — respect for international law.   
     
    Respect for international law is the anchor of maritime security.

    The international legal regime for maritime security — with the UN Charter and the Convention on the Law of the Sea at its core — strikes a careful balance between States’ sovereign rights, jurisdictions and freedoms, and their duties and obligations.  

    And it provides a strong cooperative framework for addressing crimes at sea and ensuring accountability.

    However, this framework is only as strong as States’ commitment to full and effective implementation. 
     
    All States must live up to their obligations.

    And they must resolve any differences in relation to maritime security in accordance with the UN Charter.  

    Second — we need to intensify efforts to address the root causes of maritime insecurity.  
     
    Threats to maritime security cannot be addressed without also addressing issues like poverty, a lack of alternative livelihoods, insecurity, and weak governance structures. 

    Across the United Nations family, we’re working with impoverished coastal communities to develop new opportunities for decent and sustainable work.

    Collectively, we must do more to reduce the likelihood that desperate people will turn to crime and other activities that threaten maritime security and degrade our ocean environment.

    We must help developing countries build their capacity to deal with these threats through technology, training, capacity-building, judicial reforms, and modernized naval forces, marine police units, maritime surveillance and port security. 
    And we need to ensure that our oceans and seas can continue thriving, and support humanity’s economic, social, cultural and environmental development for generations to come.

    The upcoming Oceans Conference in Nice will provide an important moment for the countries of the world to take action.

    And third — throughout, we need partnerships.

    We must involve everyone with a stake in maritime spaces. 

    From coastal communities to governments and regional groups.

    To shipping companies, flag registries, the fishing and extraction industries, insurers and port operators.

    To this very Council, which has drawn attention to maritime security and the need for collective action, de-escalation, and cooperation. 

    And to civil society groups focused on women and girls, who are disproportionately affected by challenges like piracy and human trafficking.

    As threats to maritime security are becoming more complex and interconnected, enhanced coordination and stronger maritime governance are essential.

    Mr. President, 
     
    The UN system stands ready to continue to support this Council and all Member States in ensuring peaceful, secure and prosperous maritime spaces for generations to come. 
     
    Let’s take action to support and secure maritime spaces, and the communities and people counting on them.

    Thank you.

    *****
    [All-French]

    Je remercie la présidence grecque d’avoir organisé le débat public d’aujourd’hui sur l’importance du renforcement de la sûreté maritime par la coopération internationale aux fins de la stabilité mondiale.

    Ce débat souligne tout d’abord que la condition fondamentale pour préserver la sécurité maritime est le respect par tous les pays de la Charte des Nations unies et du droit international tel qu’il est reflété dans la Convention des Nations Unies sur le droit de la mer. 

    Monsieur le Président,

    Depuis des temps immémoriaux, les routes maritimes unissent le monde.

    Elles sont depuis toujours le principal vecteur d’échanges commerciaux et de transport des personnes, des biens et des marchandises, mais aussi de diffusion des cultures et des idées.

    L’humanité tout entière dépend des océans et des mers de la planète, non seulement pour l’oxygène que nous respirons et la biodiversité qui permet à la vie d’exister, mais aussi parce qu’ils sont vitaux pour les économies, le commerce et les emplois liés aux industries maritimes.

    Le débat d’aujourd’hui met en lumière un fait fondamental :

    Sans sûreté maritime, il ne saurait y avoir de sécurité mondiale.

    Mais les espaces maritimes sont de plus en plus menacés par des périls anciens et nouveaux.

    Des difficultés liées à des frontières contestées…

    À l’épuisement des ressources naturelles de l’océan…

    En passant par l’escalade des tensions géopolitiques qui attisent les flammes de la concurrence, des conflits et de la criminalité.

    Au fil des ans, ce Conseil s’est efforcé de répondre à une série de menaces qui compromettent la sûreté maritime et la paix mondiale.

    La piraterie, le vol à main armée, le trafic et le crime organisé…

    Les actes de destruction visant le transport maritime, les installations situées au large des côtes et les infrastructures critiques…

    Mais aussi le terrorisme maritime, qui fait peser une terrible menace sur la sécurité internationale, le commerce mondial et la stabilité économique.

    Aucune région n’est épargnée.

    Et le problème ne cesse de s’aggraver.

    Après une modeste diminution des actes de piraterie et des vols à main armée signalés à l’échelle mondiale en 2024, un fort regain a été enregistré au premier trimestre de 2025.

    Selon l’Organisation maritime internationale, le nombre d’attaques a augmenté de près de moitié (47,5 %) par rapport à la même période en 2024.

    En Asie, il a presque doublé, en particulier dans les détroits de Malacca et de Singapour.

    En mer Rouge et dans le golfe d’Aden, les attaques menées par les houthistes contre des navires commerciaux ont perturbé les échanges mondiaux et accru les tensions dans une région déjà instable.

    Le golfe d’Aden et la mer Méditerranée restent des itinéraires périlleux utilisés pour le trafic de migrants et d’armes et pour la traite des personnes.

    Le golfe de Guinée demeure aux prises avec la piraterie, les enlèvements, les vols à main armée en mer, le vol de pétrole, la pêche illicite, non déclarée et non réglementée, et le trafic de drogues, d’armes et d’êtres humains.

    L’héroïne en provenance d’Afghanistan continue d’arriver en Afrique de l’Est par l’océan Indien.

    La cocaïne passe par les côtes des Amériques et traverse l’océan Atlantique pour atteindre l’Afrique de l’Ouest et les ports européens.

    Les cyberattaques, qui sont en pleine expansion, constituent une menace pour la sécurité des ports et des compagnies maritimes.

    Alors que se multiplient les périls, des routes maritimes du monde et des populations qui en dépendent nous parvient un message de détresse.

    Monsieur le Président,

    Les organismes des Nations Unies soutiennent de nombreuses initiatives régionales qui rassemblent des partenaires du monde entier autour de la sûreté maritime.

    Il s’agit notamment de projets de lutte contre l’insécurité maritime, du golfe d’Aden à la mer Rouge, et du golfe de Guinée au golfe Persique…

    Des efforts visant à garantir la sécurité de la navigation en mer Noire…

    De l’action que nous menons pour aider les pays à bâtir leurs forces maritimes et à se doter de systèmes juridiques solides…

    Des efforts déployés pour lutter contre les vols à main armée dont sont victimes des navires en Asie et contre la piraterie qui sévit au large des côtes somaliennes…

    Et du soutien que nous apportons à l’Architecture de Yaoundé pour la sécurité maritime, mécanisme de coordination interrégional à plusieurs niveaux destiné à combattre la piraterie en Afrique de l’Ouest et en Afrique centrale, qui a permis de porter le nombre d’actes de piraterie de 81 en 2020 à seulement 18 l’année dernière.

    L’Organisation maritime internationale continue en outre de jouer un rôle fondamental pour ce qui est de désamorcer les tensions en mer et d’aider les États Membres et le secteur du transport maritime à trouver des solutions concertées.

    Pour l’avenir, des mesures devront être prises dans trois domaines clés.

    Premièrement, le respect du droit international.

    Le respect du droit international est la condition première de la sûreté maritime.

    Le régime juridique international en la matière, fondé sur la Charte des Nations Unies et la Convention sur le droit de la mer, établit un équilibre délicat entre les droits souverains, la juridiction et les libertés des États, d’une part, et leurs devoirs et obligations, d’autre part.

    Il constitue également un cadre de coopération solide permettant de lutter contre les crimes commis en mer et de veiller à ce que les responsabilités soient établies.

    Toutefois, son efficacité dépend de la volonté des États d’en assurer la mise en œuvre pleine et effective.

    Tous les États doivent respecter leurs obligations.

    Et ils doivent résoudre tout différend relatif à la sûreté maritime conformément à la Charte des Nations Unies.

    Deuxièmement, nous devons redoubler d’efforts pour nous attaquer aux causes profondes de l’insécurité maritime.

    On ne saurait conjurer les menaces qui pèsent sur la sûreté maritime sans affronter également des problèmes tels que la pauvreté, l’absence de moyens de subsistance, l’insécurité et la faiblesse des structures de gouvernance.

    L’ensemble du système des Nations Unies s’emploie, aux côtés des communautés côtières pauvres, à créer de nouvelles possibilités de travail décent et durable.

    Collectivement, nous devons faire davantage pour réduire la probabilité que des personnes désespérées se tournent vers la criminalité et d’autres activités qui menacent la sûreté maritime et dégradent notre environnement océanique.

    Nous devons aider les pays en développement à renforcer leur capacité de faire face à ces menaces par la technologie, la formation, le renforcement des institutions et la mise en œuvre de réformes judiciaires, ainsi que par la modernisation des forces navales, des unités de police maritime, de la surveillance maritime et de la sécurité portuaire.

    Et nous devons veiller à ce que nos océans et nos mers puissent continuer de prospérer et de soutenir le développement économique, social, culturel et environnemental de l’humanité pour les générations à venir.

    La prochaine Conférence sur l’océan, qui se tiendra à Nice, sera pour les pays du monde entier une occasion décisive de passer à l’action.

    Et troisièmement, nous avons besoin de partenariats à tous les niveaux.

    Nous devons associer toutes les parties concernées par les espaces maritimes à l’action menée dans ce domaine.

    Des populations côtières, aux gouvernements, en passant par les groupes régionaux, les compagnies maritimes, les registres d’immatriculation du pavillon, les industries de la pêche et de l’extraction, les compagnies d’assurance et les exploitants portuaires.

    Sans oublier ce Conseil, qui a appelé l’attention sur la sûreté maritime et la nécessité d’agir de manière collective, d’assurer la désescalade et de promouvoir la coopération.

    Ainsi que les groupes de la société civile qui œuvrent en faveur des femmes et des filles, touchées de manière disproportionnée par des fléaux tels que la piraterie et la traite des personnes.

    Alors que les menaces qui pèsent sur la sûreté maritime deviennent de plus en plus complexes et interconnectées, il est essentiel d’améliorer la coordination et de renforcer la gouvernance maritime.

    Monsieur le Président,

    Le système des Nations Unies est prêt à continuer d’aider ce Conseil et tous les États Membres à garantir des espaces maritimes pacifiques, sûrs et prospères pour les générations à venir.
     
    Agissons pour préserver et sécuriser les espaces maritimes, ainsi que les communautés et les personnes qui en dépendent.

    Je vous remercie.

    MIL OSI Africa

  • MIL-OSI Europe: Treasury issues Eurobond

    Source: Government of Iceland

    The Republic of Iceland has successfully issued a €750 million Eurobond (ISK 109 billion equivalent) with a fixed coupon of 2.625% and a five-year maturity, priced at a re-offer yield of 2.672%. The proceeds will be used to strengthen the foreign exchange reserves of the Central Bank of Iceland and to refinance existing Eurobonds.

    Concurrently with the new issue, the Treasury launched a tender offer to repurchase its outstanding €500 million Eurobond maturing in 2026. The offer remains open until 17:00 BST on Friday, 23 May 2025.

    The transaction attracted robust demand, with orders totalling €4.4 billion—nearly six times the issue size. The investor base comprised over 100 institutions, including asset managers, banks, central banks, pension funds, insurance companies, and other institutional investors, primarily from across Europe. Citibank, Barclays, J.P. Morgan, and BNP Paribas acted as joint lead managers for the transaction.

    Daði Már Kristófersson, Minister of Finance and Economic Affairs, commented:

    “It is highly gratifying to see such strong investor interest in this bond issue and the improved spreads compared to our previous offerings. The breadth and diversity of the investor base align with our goal of broadening access to Icelandic government bonds. This outcome reflects market confidence in the Icelandic economy, sound public finances, and the Government’s policy direction.”

    This issuance forms part of the Government’s Medium-Term Debt Management Strategy, which aims to ensure that the Treasury is a regular and credible issuer in international capital markets.

    The pricing of the bond, 42 bps over mid-swaps, represents a significant improvement over the Treasury’s 10-year green bond issued in 2024, which carried a mid-swap spread of 95 basis points. Despite ongoing global uncertainty, spreads on Icelandic sovereign debt have narrowed and outperformed those of many peers with comparable credit ratings.

    “Our message is resonating well with investors,” said Minister Kristófersson. “Iceland stands out for its solid and growing economy with good prospects, declining inflation, diversified exports, improved sustainability, and stronger credit profile.”

    MIL OSI Europe News

  • MIL-OSI Canada: Itinerary unveiled for the 2025 Royal Visit of Their Majesties King Charles III and Queen Camilla

    Source: Government of Canada News (2)

    OTTAWA, May 20, 2025

    Today, the Government of Canada announced the official itinerary for the upcoming Royal Visit of Their Majesties King Charles III and Queen Camilla in Ottawa on May 26 and 27, 2025.

    While the primary focus of the visit is His Majesty King Charles III delivering the Speech from the Throne, Their Majesties will also engage with a variety of individuals and groups that reflect the geographic and cultural richness of the country.

    His Majesty King Charles III has a deep, longstanding connection to Canada and shares many values that resonate with Canadians, including environmental stewardship, youth empowerment, and the celebration of Canada’s vibrant and diverse heritage.

    This first visit as King of Canada marks a momentous and historic occasion, highlighting Canada’s identity and sovereignty as a constitutional monarchy.

    The Royal Visit also strengthens the bond between Canada and the monarchy, offering an opportunity to better understand the unique role of the Crown in our democracy.

    Itinerary

    May 26

    Their Majesties will arrive in Ottawa on the afternoon of May 26 and will be welcomed at the Canada Reception Centre by the Governor General, the Prime Minister, Indigenous leaders and the Lieutenant Governor of Ontario. An arrival guard from the Royal Canadian Dragoons, a senior armoured regiment of the Canadian Armed Forces, will also be present.

    Following their arrival, The King and Queen will travel to Lansdowne Park to meet with members of community organizations and the public.

    Later, Their Majesties will make their way to Rideau Hall, the official residence of the Governor General of Canada and the official residence of The King and The Queen while in Canada.

    They will participate in a ceremonial tree planting surrounded by the Viceregal representatives and community members.

    His Majesty will then hold audiences with the Governor General of Canada and with the Prime Minister of Canada.

    May 27

    On the morning of May 27, Their Majesties will travel on Wellington Street from the Bank of Canada to the Senate of Canada using Canada’s State Landau, drawn by horses of the Royal Canadian Mounted Police Musical Ride.

    Upon arriving at the Senate of Canada, The King will receive full military honours which will include a Royal Salute, a 100-person guard of honour from the 3rd Battalion of the Royal Canadian Regiment, an inspection of the guard and the band, and a 21-gun salute.

    His Majesty King Charles III will then deliver the Speech from the Throne to open the first session of the 45th Parliament of Canada. Having the speech delivered by the Sovereign is a rare moment where we witness Canadian democracy in all its depth: a balance between heritage and responsibility, tradition and action. Before concluding their visit, Their Majesties will pay their respects and lay a wreath and flowers at The Tomb of the Unknown Soldier at the National War Memorial.

    The complete itinerary is available on the 2025 Royal Visit web page. 

    MIL OSI Canada News

  • MIL-OSI USA: IAM Victory at Boeing

    Source: US GOIAM Union

    How did a union of 33,000 aircraft workers win a battle that set a new standard in the aviation industry with a 40% pay increase over four years? What strategies did they use to score a guarantee of building Boeing’s next commercial aircraft? What tactic did they use to defend their ground in a battle for retirement savings, not to give another inch of territory that had already been taken from them?

    “If it ain’t Boeing, I ain’t going.”

    This was the catchphrase during the heyday of commercial aviation in North America from the 1930s through the 1970s. Boeing aircraft were dominating the skies with silver bottom planes that denoted the quality engineering and manufacturing it took to build a transportation marvel.

    A job at Boeing in the Pacific Northwest was a key to the lock on a comfortable middle-class life for many families. And those jobs had been union jobs for generations, thanks to the foresight of early Boeing workers in 1936 who organized with the IAM.

    But the chase for middle-class life started racing uphill in the early 1980s. More recently, staggering inflation put even higher demands on workers’ salaries and compensation with exponential growth in the cost of living. Health insurance, housing, groceries, and energy prices grew faster than wage and benefit increases. The ability to retire with dignity and financial stability was becoming an afterthought. The bar for the middle class wasmoving higher and higher, and someone had to take a stand and choose a battlefield for a fight to begin.

    Thirty-three thousand IAM members from District 751 and W24 were ready.

    These members had been held in limbo for two contract cycles. They weathered two extensions of previous collective bargaining agreements, riddled with threats to move their work elsewhere, while Boeing stopped pension contributions. Meanwhile, since 2010, Boeing has sent $83 billion in profits to Wall Street, according to the Seattle Times. It had told its world-class workforce that cuts to worker compensation were necessary.

    Preparation and planning were key to readiness. Both districts focused on communication; putting the plan up front for all members to see. Face to face discussions, surveys, emails, and dropbox suggestions were used to gauge membership needs. District 751 Aero Mechanic printed road maps of the contracts back to 1952 -showing the history of contract wins and path of growth. W-24 held contract input and listening sessions at Mt. Hood community college.
    Shop stewards encouraged “swag days” when union members would wear the same union gear to mark solidarity.

    “This is our future, our fight, and we are ready for it,” said IAM District 751 President and Directing Business Representative Jon Holden. “We have spent the last decade listening to members tell us what’s important to them and their families. Many changes are necessary to address the membership’s priorities. We are creating a proposal to address a comprehensive list of membership demands.”

    Noted union organizer and author Marshall Ganz once said, “Movements have narratives. They tell stories because they are not just about rearranging economics and politics. They also rearrange meaning. And they’re not just about redistributing the goods. They’re about figuring out what is good.”

    And what a story IAM members working for Boeing in the Pacific Northwest would have to tell.

    “IAM members are the most dedicated, skilled, and experienced aerospace union in the world,” said IAM Western Territory General Vice President Robert “Bobby” Martinez. “We could not settle for anything less than the respect and family-sustaining wages and benefits that our members at Boeing need and deserve.”

    It was time for a bold move.

    A July 2024 rally at Seattle’s T-Mobile Park, the only sports venue in the area with enough capacity to hold the IAM’s Boeing membership in the area, saw a strike sanction vote pass by 99.9%.

    Boeing workers had decided this negotiation cycle was their chance—no more extensions to an existing agreement. Boeing management had made a series of high-profile blunders over the past decade, against the advice of its own workers.

    On Sept. 13, 2024, over 96% of Boeing IAM workers voted no on Boeing’s first contract offer. The path was set. Game on!“Our membership’s ‘no’ vote was a clear mandate. Boeing had to stop undervaluing its workforce,” IAM International President Brian Bryant said after the vote. “Our strength lies in our unity, and we do not back down.”

    Strike lines were set. Burn barrels were put in place. News media covered the strike from Seattle to Europe, where Boeing’s competitor, Airbus, was watching. The fight was on 24/7, and these workers were together.

    And the legacy of some past members stepped up at just the right time.

    IAM District 751 member Keith Olsen passed away from cancer in 2020. He left behind two children, Hawken and Bailey. Their mother, Arlene, saw her children take action no one expected. Bailey, now 16, shared, “When the strike started, my brother Hawken asked, ‘If Dad were alive, would he be out there?’” Bailey continued, “When I said yes, [Hawken] immediately wanted to join. He’s autistic, and the honking and crowds worried me, but he had so much fun. He kept telling everyone, ‘This is for my Dad.’”

    33,000 moms, dads, union brothers, sisters, and siblings knew what was at stake if they folded under pressure.

    A rejection of a Boeing offer on Oct. 23 ratcheted up the stakes. IAM leaders met with workers and listened to their objections to Boeing’s offers. It just wasn’t good enough, was the consensus.

    “Our membership spoke loudly and clearly about what they wanted in this agreement,” said IAM District 751 President and Directing Business Representative Jon Holden. “We stand strong until those needs are addressed.”

    As the strike continued past its 50th day, striking workers’ determination was further tested. Each day, one day longer, one day stronger.
    The strike was rearranging the meaning of solidarity. As Marshall Ganz described it, the narrative was figuring out what was good.

    “That means that we all needed to come together, stay informed, and take action as a group. There’s no way they’re gonna wait us out,” said District W24 President and Directing Business Representative Brandon Bryant. “We’re going to be here as long as it takes. We’ve got plenty of support for a long time.”

    U.S. Sen. Maria Cantwell and U.S. Rep. Pramila Jayapal rallied with striking District 751 members on Oct. 15. Sen. Patty Murray and Reps. Adam Smith and Rick Larsen joined a support letter from Cantwell and Jayapal that called on the two sides to “expeditiously work out a fair and durable deal that recognizes the importance of the machinist workforce to Boeing’s future.”

    The continuing strike’s economic impact on the overall U.S. economy did not go unnoticed. The Seattle Times reported that Boeing and its suppliers had lost $9.7 billion by early November.

    Julie Su, then the Acting Labor Secretary, visited Seattle three times and gathered management and union leaders in late October.

    “There was a real history here where the prior leadership of the company had undervalued and undermined the relationship between management and the machinists,” Su told Axios News. “And so the workers felt that.”

    As day 53 of the strike ended, a deal was reached. Solidarity had won a new agreement.

    “This means growth and stability for Boeing workers. Our members went on strike for better wages and working conditions –and they won by staying united and exercising democracy in the workplace,” said IAM Resident General Vice President Jody Bennett said, “They hit the streets, held strong, and have been rewarded with an excellent contract. This dedicated frontline workforce does not just deserve these provisions —they are also overdue. This contract will set a new standard for aerospace across the region, the nation, and the industry.”

    Boeing workers in South Carolina, who are just like our members; facing the same employerand performing the same work, where Boeing moved some production lines to avoid union power in the right to work for less state, saw gains in their compensation packages influenced by the District 751 and W24 fight.

    “Our members fought courageously for what they deserve, and this victory proves the power of collective bargaining,” said IAM International President Brian Bryant. “IAM Boeing workers will help make the case to Boeing South Carolina workers on how we helped raise their wages and benefits at Boeing and the entire industry. We look forward to the conversations on the ground in Charleston about how the IAM can make their workplace stronger.”

    “This experience changed me. It wasn’t just about standing up to the company -it was about standing up for each other, for every worker who deserves respect and fairness. Our strength is our solidarity, and we proved that every day on the line.”, said District 751A member Chris McQueen as she returned to work after the 53 day strike.

    Members knew that standing up meant that more than just their current battle was won, it meant the door was open to change things for the future, together.

    “Education is power, and by equipping our members with the right tools and information, we build a more united and informed union. Together, we are shaping a stronger future for all IAM members and the entire aerospace industry,” said 751 President Holden. “From our family members to the flying public, we want everyone to be proud of this company once again. We are the watchdog with a unique opportunity to make things better for all.”

    Any movement starts with a step, and a step in the right direction tells a new story with new chapters yet to come.

    It was a fight worth winning.

    SIDEBAR
    Historic Agreement:
    IAM District 751 and W24 Members are now the best compensated aerospace workers in the industry.

    * 38% general wage increase over four years, which compounds to 43.65% over the life of the agreement 
    *401(k) employer match of 100% up to 8%-$12,000 ratification bonus 
    *AMPP incentive plan is reinstated, with a guaranteed minimum annual payout of 4%
    *Special company retirement contribution of 4% into 401(k) maintained
    *$105 pension multiplier per year for those vested in the pension plan
    *Call-in language back to current contract
    *New long-term disability plan and big improvement to short term disability plan-Health care cost containment
    *Improved overtime rules
    *Key job security provision for IAM members to build the next Boeing commercial aircraft in the Pacific Northwest
    *Additional Job Security language maintaining the headcount of Facilities and Maintenance members in the Collective Bargaining Agreement

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    MIL OSI USA News

  • MIL-OSI: Caisse Française de Financement Local: EMTN 2025-8 SOCIAL

    Source: GlobeNewswire (MIL-OSI)

    Paris, 20 May 2025

    Capitalised terms used herein shall have the meaning specified for such terms in the Caisse Française de Financement Local base prospectus to the €75,000,000,000 Euro Medium Term Note Programme dated 8 July 2024 (the “Base Prospectus”).

    Caisse Française de Financement Local has decided to issue on 22 May 2025 – Euro 500,000,000 Fixed Rate Obligations Foncières due 22 May 2037.

    The net proceeds of this issue will be used to finance and/or refinance, in whole or in part, the Eligible Social Loans as defined in the Sfil Group Green, Social and Sustainability Bond Framework as published as of the Issue Date which is available on the website of the Issuer.

    A Stabilisation Manager has been named in the applicable Final Terms.

    The Base Prospectus dated 8 July 2024 and the supplements to the Base Prospectus dated 13 September 2024, 30 September 2024, 26 December 2024, 27 February 2025 and 2 April 2025 approved by the Autorité des Marchés Financiers are available on the website of the Issuer (https://www.caissefrancaisedefinancementlocal.fr/), at the registered office of the Issuer: 112-114, avenue Emile Zola, 75015 Paris, France, and at the office of the Paying Agent indicated in the Base Prospectus.

    The Final Terms relating to the issue will be available on the website of the AMF (www.amf-france.org) and of the Luxembourg Stock Exchange (www.bourse.lu), at the office of the Issuer and at the office of the Paying Agent.

    Attachment

    The MIL Network

  • MIL-OSI: Best Royalty-Free Music (2025): Pond5 Recognized as Top Audio Resource for Creators by Software Experts

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK CITY, May 20, 2025 (GLOBE NEWSWIRE) — Software Experts, a trusted digital publication covering software solutions and creative tools, has officially recognized Pond5 as a leading resource for royalty-free music in 2025. The decision follows an in-depth evaluation of digital music libraries available to content creators, marketers, educators, and media professionals.

    Best Royalty Free Music:

    • Pond5 – With its expansive catalog of expertly produced tracks, intuitive search tools, and flexible pricing models, it provides a seamless experience for anyone in need of premium music for media production.

    The recognition reflects broader shifts in the creator economy, where demand for accessible, rights-cleared audio assets continues to grow. As video consumption increases across platforms such as YouTube, TikTok, and LinkedIn, background music has become a foundational element in digital storytelling. Pond5 has responded to this need with a scalable and user-friendly platform offering a wide selection of music tracks licensed for multi-platform use.

    Pond5 hosts a catalog of over 1.5 million royalty-free music tracks, covering genres including cinematic, corporate, electronic, hip-hop, acoustic, ambient, and experimental. This diverse inventory supports a wide range of applications, from short-form social media clips to full-length documentaries and advertising campaigns.

    The Software Experts review notes that the royalty-free model provided by Pond5 aligns with the operational needs of modern creators. Unlike traditional licensing methods that may involve recurring royalty payments or limited usage rights, Pond5’s approach enables broad, perpetual use of music for a single license fee. This model reduces administrative burdens while ensuring compliance with major platforms’ copyright policies.

    The report highlights that royalty-free music has moved beyond being a niche offering. It is now a core requirement for professionals in film production, e-learning, game design, app development, and podcasting. Platforms like Pond5 provide not just content, but the infrastructure to support fast and safe deployment across these formats.

    Subscription Plans Address Creator Needs Across Different Scales

    A major focus of the recognition was the adaptability of Pond5’s subscription plans, which are structured to accommodate creators at various stages of growth – from freelancers to production companies.

    The platform offers three key subscription options:

    • Music Subscription ($25/month): Grants access to 10 royalty-free music downloads per month.
    • Music & Sound Effects Subscription ($30/month): Offers 10 monthly downloads with access to both music and over 1.7 million sound effects.
    • Footage Plus Subscription ($199/month): Includes 10 monthly downloads from a curated selection of HD/4K footage, music, sound effects, images, and templates.

    Each subscription includes a royalty-free license for unlimited project use with global, perpetual rights and no additional fees. All plans also enjoy remaining download rollovers.

    Annual subscriptions are available and come with a 10% discount on any additional purchases, providing further value to frequent users.

    Pond5’s transparent licensing terms were cited in the report as a practical advantage. Users can access license documentation at the point of purchase, ensuring clarity around content usage. This is especially relevant for creators working under tight deadlines or across multiple distribution channels.

    Search Tools and Workflow Integration Improve Efficiency

    Another factor influencing the Software Experts recognition is the integration of intelligent search and filtering tools. These include filters for mood, genre, instrumentation, duration, tempo (BPM), and keywords, allowing users to quickly locate music that matches specific creative objectives.

    The review also points to Pond5’s support for editing software integration. The platform offers plugins for Adobe Premiere Pro and other creative tools, enabling faster media asset selection and editing directly within production environments. This integration helps streamline the creative process, making music selection a frictionless part of content development.

    Responding to a Changing Creator Landscape

    The rise of decentralized content creation has led to a significant increase in non-traditional media producers – from educators building online courses to entrepreneurs creating branded social content. As a result, there is growing demand for high-quality music that is both legal to use and affordable.

    According to recent industry data, over 80% of digital video creators rely on royalty-free music in their projects. This figure is expected to grow as more professionals adopt remote production workflows and scale their content output. Platforms like Pond5 are positioned to meet this demand by providing accessible licensing models, regularly updated content libraries, and user support systems that adapt to evolving production requirements.

    The Software Experts review emphasizes that Pond5’s ability to consistently add new tracks, coupled with its rigorous content curation, ensures that users have access to fresh and high-quality audio assets throughout the year. Each track submitted to the platform undergoes a quality screening process, reinforcing the brand’s position as a trusted media provider.

    Licensing Simplicity and Legal Assurance

    As copyright enforcement becomes more automated across platforms, creators must ensure that their media assets are fully cleared for use. Pond5’s licensing structure provides clear legal documentation and usage terms, reducing the risk of content being flagged, demonetized, or removed from hosting platforms.

    The review indicates that licensing simplicity is now as critical as the quality of the content itself. Time constraints, legal compliance, and platform monetization policies have made the demand for clear and reliable licenses a non-negotiable part of the content development process.

    Pond5’s licenses cover most use cases, including broadcast, online streaming, mobile apps, corporate presentations, and advertising. This eliminates the need for multiple licenses across different formats and simplifies budgeting for media production.

    Education and Support for Professional Users

    Pond5 also provides support resources and educational materials to help users make informed licensing decisions. For agencies or production teams, enterprise-level solutions are available with volume pricing, team access controls, and dedicated account support.

    These features enable Pond5 to serve not only individual creators but also teams managing complex content pipelines. This level of service is becoming increasingly necessary as content strategy becomes a key part of brand and business growth in sectors such as education, technology, and entertainment.

    Conclusion and Industry Implications

    The Software Experts team evaluated numerous platforms and determined that Pond5 aligns well with the current and future needs of content creators. The platform’s wide-ranging media access, flexible subscriptions, license transparency, and user-first search tools contribute to its recognition as a reliable and forward-facing audio resource.

    This recognition signals a broader shift in how music licensing is being approached in 2025. Rather than treating audio as a static add-on, professional creators are now considering it a foundational layer in content strategy. Solutions that provide clear, scalable access to licensed music—without legal friction—are becoming essential tools in the modern creator’s toolkit.

    The full review is available now at the Software Experts website.

    About Pond5: Pond5 is the world’s largest video-first content marketplace, with over 45 million royalty-free video clips, plus millions of music tracks, sound effects, images, and more. Driven by a commitment to its passionate and growing global community of more than 100,000 professional visual and audio artists, Pond5 provides a platform where creative work can flourish.

    About Software Experts: Software Experts provides news and reviews of consumer products and services. As an affiliate, Software Experts may earn commissions from sales generated using links provided. 

    The MIL Network

  • MIL-OSI United Kingdom: Prospectus unveiled to promote investment opportunities in Digbeth

    Source: City of Birmingham

    Birmingham City Council has unveiled a prospectus to promote the investment opportunities available across 10 development sites on 35 plots across Digbeth.

    The council launched the Digbeth Prospectus at the UK Real Estate, Investment and Infrastructure Forum (UKREiiF) and contains plans for over 6,000 new homes & 300,000 sqm of commercial floorspace across Digbeth.

    The Digbeth Prospectus is part of the council’s Our Future City: Central Birmingham Framework 2045 regeneration vision, which plans to provide 10,000 homes in the wider Central East area.

    Digbeth is surrounded by up to around £11bn of planned investment in infrastructure and major development over the next decade, including Smithfield, the Sports Quarter, Birmingham Knowledge Quarter and HS2 Curzon Street Station.

    The council is seeking development partners, investment partners and occupiers for the sites in Digbeth, which range from pre-planning to advanced planning stages.

    Anyone interested, whether that’s developers, investors or residents, is invited to view the Digbeth Prospectus on the council’s website.

    Birmingham City Council unveiled The Digbeth Prospectus alongside other West Midlands local authorities as they collaborated to showcase more than £18 billion worth of investment opportunities at the UKREiiF property show in Leeds.

    Councillor Sharon Thompson, Deputy Leader & Cabinet Member for Economy and Skills, said:

    “Digbeth is a diverse, creative, enterprising community, home to freelancers, makers, agencies, startups and cultural venues.

    “Its rapid transformation into a buzzing creative quarter and centre for TV and film production, fuelled by the BBC’s new broadcast centre and MasterChef studios, is helping return the area to a position of national importance, providing much-needed high-quality jobs for this growing city.

    “The Digbeth Prospectus represents the latest delivery phase of Our Future City: Central Birmingham Framework 2045 and will help bring forward over 6000 new homes and over 300,000 sqm of new workspace.

    “By working with partners and stakeholders across the public and private sector we will make sure that Digbeth remains the go-to place for creative individuals and businesses.”

    To view the Digbeth Prospectus on the council’s website, visit: https://www.birmingham.gov.uk/DigbethProspectus

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: UK adopts historic Pandemic Agreement

    Source: United Kingdom – Government Statements

    Press release

    UK adopts historic Pandemic Agreement

    Better protections for British public and NHS thanks to deal adopted at the World Health Assembly in Geneva.

    • New Agreement will protect British public and NHS from future global health threats while preserving UK sovereignty
    • Pandemic Agreement will safeguard lives and UK economy by improving world’s collective ability to prevent, prepare for, detect and respond to global disease threats
    • This follows long negotiation process to ensure agreement is firmly in UK’s national interest

    The British people, our NHS and the economy will be better protected against future global health threats thanks to a new World Health Organization (WHO) Pandemic Agreement adopted by the UK today.

    The deal marks a significant step forward in stronger domestic and global prevention by improving the way countries around the world work together to detect and combat pandemic threats.

    The UK government has been actively engaged in negotiations to ensure a strong final agreement. The Agreement adopted at the World Health Assembly in Geneva respects national sovereignty while encouraging nations to work together more effectively to address shared global health threats, in turn helping strengthen our national security which is a key part of this government’s Plan for Change. There are no provisions that would give the WHO powers to impose domestic public health decisions on the UK.

    Minister of State for International Development Baroness Chapman said:

    The Pandemic Agreement is a great example of the UK working with our partners to support countries combat disease and strengthen their health systems. Acting together will help us to prevent pandemics, and prepare for and respond to any future pandemic threats.

    Diseases cross borders, and our diplomacy must too, if we are to prevent a repeat of the devastation caused by Covid-19. That’s why this agreement will make the world a healthier and safer place.

    Health Minister Ashley Dalton said:

    COVID-19 showed us the vital importance of international cooperation to save lives. This landmark agreement will help protect British people from future pandemic threats and safeguard our health system, supporting our mission to build an NHS fit for the future.

    Our national interest and the safety and wellbeing of the British public will always be our first priority. This agreement maintains our sovereignty while ensuring the NHS and the UK as a whole will be better prepared for possible future global health emergencies, through stronger early warning systems and faster response capabilities.

    Our world-class life sciences sector will also benefit from increased innovation in vaccines and treatments, boosting growth and improving care for patients across the UK.

    UKHSA Chief Executive Dame Jenny Harries said:

    It is gratifying to see the Pandemic Agreement adopted. It is clear that international co-operation and collaboration must be at the very heart of our pandemic preparedness strategy if it is to be effective, and this agreement is a welcome step towards making the world a safer place from pandemic threats.

    UKHSA has consistently been committed to sharing data and analysis on pathogens with pandemic potential with our international partners, and we will continue to do so as we work to develop the global capacity to respond to emerging threats to public health.

    This is also good news for scientific innovation and the UK’s world-leading life sciences industry, opening the door to enabling high quality vaccines to be delivered faster in the next pandemic.

    The Covid-19 pandemic has had an enduring impact on lives and livelihoods around the world. Thousands of families in the UK lost loved ones, children missed out on pivotal learning and development opportunities, and businesses were forced to close their doors. The estimated cost of the UK government’s COVID-19 measures was over £300 billion.

    The new Pandemic Agreement will help avoid a repeat of this devastation by creating a framework for countries to take action together to better prevent pandemics – by improving disease surveillance so we can detect and respond to new health threats sooner, and by speeding up innovation of life-saving vaccines and treatments.

    The aim is to prevent pandemic threats from emerging in the first place and stopping them in their tracks when they do.

    It will facilitate swifter pathogen and pathogen data sharing so we can act quickly to prevent further spread. It will also enable the UK to develop vaccines, treatments and tests faster, which will help save lives and drive economic growth in our world-leading life sciences sector.

    124 member states agreed to adopt the Pandemic Agreement today, demonstrating strong international commitment to multilateralism and collective action to strengthen global health security.

    The final text represents a strong outcome for the UK. Key wins include: 

    • Commitments on pandemic prevention, including for health, animal, and environmental sectors to collaborate through a “One Health” approach – a major step toward preventing disease spillover from animals to humans;
    • Provisions that will foster innovation, enhance global research and development, and strengthen supply chains;
    • The Pandemic Agreement paves the way for a new and voluntary Pathogen Access and Benefit Sharing (PABS) system which should see pharmaceutical companies get faster access to the pathogens and genetic sequences that they need to create new vaccines, treatments and tests to respond to a pandemic. In return, manufacturers who voluntarily sign up to the system – not the government – will share a portion of their production with the WHO to allocate where it is most needed;
    • The PABS system is entirely voluntary for pharmaceutical companies, who may choose to join to gain faster access to pathogen data for innovation. There are no requirements placed on governments to share vaccines or treatments they have purchased.
    • The Pandemic Agreement does not include any provisions that would give the WHO powers to impose domestic public health decisions on the UK. The sovereignty of states is one of the guiding principles of the Agreement.

    Updates to this page

    Published 20 May 2025

    MIL OSI United Kingdom

  • MIL-OSI Europe: The EBA publishes 2024 Report of its key achievements and activities

    Source: European Banking Authority

    The European Banking Authority (EBA) today published the first part of its 2024 Annual Report presenting the main achievements and activities of the organisation in fulfilling its mandates under its Work Programme over the past year.  

    The year 2024 proved to be a milestone year, with the Agency delivering on over 93% of the tasks under its remit. On the regulatory front, the EBA made significant progress in the implementation of the Basel III reforms within the EU, aiming to ensure banks’ resilience in future crises and strengthen the financial system.  

    The EBA focused on enhancing the Single Rulebook by issuing guidelines and technical standards on key banking topics, such as credit, market and operational risk. The EBA also contributed to the European Green Deal by advancing sustainable finance integration, issuing guidelines and reports on ESG risks, greenwashing, and scenario analysis, reflecting its commitment to embedding environmental and social considerations into prudential frameworks. 

    In 2024, the EBA focused on monitoring financial stability amidst high interest rates, slow growth, and geopolitical uncertainty, with a particular emphasis on the impact on the banking sector. These assessments are included in two issues of its Risk Assessment Report, one published in spring and the other one autumn. The latter was accompanied by the publication of the results of the EU-wide transparency exercise. 

    Other achievements throughout the year included the update of the stress-testing methodology, incorporating new elements like net fee and commission income projections and market risk sensitivity. 

    The Authority also conducted a one-off climate risk stress test to assess the resilience of the financial sector under scenarios of the Fit-for-55 package, showing limited impact from transition risks but potential disruption when combined with macroeconomic factors. 

    Note to the editors  

    By end-June, the EBA will publish a consolidated version of the Annual Report that will provide a comprehensive account of the activities carried out by the EBA in the implementation of its mandate and work programme during 2024.  

    Part 1, published today, provides an overview of the annual key achievements, while Parts 2-5, will include comprehensive information on the implementation of the EBA’s work programme, budget, staff policy plan, its management and internal control systems. 

    MIL OSI Europe News

  • MIL-OSI: Gabelli Funds Names Robert Lyons, Luca Savi, Ian Walsh, and Ken Yoshida to Management Hall of Fame

    Source: GlobeNewswire (MIL-OSI)

    GREENWICH, Con., May 20, 2025 (GLOBE NEWSWIRE) — Gabelli Funds introduced the 2025 inductees to the GAMCO Management Hall of Fame at its fortieth annual client conference which was held on Friday, May 16 at the Pierre Hotel in New York. The inductees to the Hall of Fame are Robert C. Lyons of GATX Corporation, Luca Savi of ITT Inc., Ian K. Walsh of Kaman Corporation, and Kenichiro Yoshida of Sony Group Corporation.

    In 1990, Gabelli Funds established the GAMCO Management Hall of Fame to honor corporate executives for their outstanding contributions in enhancing shareholder value. With this year’s inductees, there are 130 inductees in our management hall of fame. The selection process starts with the firm’s research on the company. Each inductee has passed rigorous criteria, including:

    • creating shareholder wealth
    • earning a superior rate of return over the long term
    • practicing the virtues of capital accumulation
    • enhancing our clients’ investment success

    This Hall of Fame follows the philosophical underpinnings of Gabelli Funds’ fundamental research, as presented in Security Analysis (1934) by Benjamin Graham and David Dodd. It is the investment bible, the key to unlocking values in the stock market. In Security Analysis, Graham and Dodd presented principles and techniques to measure asset value and cash flows in a methodology to evaluate individual companies. They created the profession of security analysis using an investment process that is known today as value investing.

    GAMCO Investors, Inc. (OTCQX: GAMI), through its subsidiaries, manages assets of private advisory accounts (GAMCO), mutual funds and closed-end funds (Gabelli Funds, LLC) and is known for its Private Market Value with a Catalyst™ style of investment.

    Contact:
    Douglas R. Jamieson
    President & Chief Operating Officer
    (914) 921-5020

    For further information please visit
    www.gabelli.com

    The MIL Network

  • MIL-OSI: Bel Appoints Lynn Hutkin as Chief Financial Officer

    Source: GlobeNewswire (MIL-OSI)

    WEST ORANGE, N.J., May 20, 2025 (GLOBE NEWSWIRE) — The Board of Directors of Bel Fuse Inc. (Nasdaq: BELFA and BELFB) (“Bel” or the “Company”) today announced the appointment of Lynn Hutkin as Bel’s Chief Financial Officer (CFO) effective immediately following Bel’s Annual Meeting of Shareholders to be held May 27, 2025. She will be responsible for Bel’s financial strategies and will lead the global finance organization, including planning, treasury, tax, reporting and investor relations. In her new role Ms. Hutkin is succeeding Farouq Tuweiq, Bel’s current CFO, who as previously announced will vacate his CFO role immediately following Bel’s 2025 Annual Meeting of Shareholders to be held May 27, 2025, upon Mr. Tuweiq’s assumption of the President and CEO role on that same date.

    Ms. Hutkin joined Bel in 2007 and has held roles with increasing responsibilities, most recently serving in the role of Vice President of Financial Reporting and Investor Relations along with her designation as Principal Accounting Officer for Bel, which she will continue in her new role (together with her newly added designation as Principal Financial Officer). In addition to her primary roles, throughout her tenure at Bel, she has also been a leader in a variety of other areas including mergers and acquisitions, bank financing, corporate insurance and employee benefit programs. Ms. Hutkin started her career at Arthur Andersen within the audit group and subsequently held roles of increasing responsibility within finance at companies ranging from an IT consulting start-up to a $250 million publicly-traded courier company prior to joining Bel. Ms. Hutkin earned her B.S. of Accountancy from Bentley University and is an active CPA in the State of New Jersey.

    “I am excited to continue working with Lynn and to build upon the accomplishments we have achieved since we began working together in 2021,” said Farouq Tuweiq, Bel’s current CFO. “Bel has gone through a number of transformational steps over the past four years and Lynn has been integral in strengthening best practices at Bel and enhancing financial discipline, financial reporting and internal procedures and controls throughout the organization.”

    “I’m beyond honored to step into the CFO role and very excited for the new journey ahead,” said Lynn Hutkin. “I look forward to the continued partnership with Farouq and our talented team in attaining our future goals.”

    About Bel
    Bel (www.belfuse.com) designs, manufactures and markets a broad array of products that power, protect and connect electronic circuits. These products are primarily used in the defense, commercial aerospace, networking, telecommunications, computing, general industrial, high-speed data transmission, transportation and eMobility industries. Bel’s portfolio of products also finds application in the automotive, medical, broadcasting and consumer electronics markets. Bel’s product groups include Power Solutions and Protection (front-end, board-mount, industrial and transportation power products, module products and circuit protection), Connectivity Solutions (expanded beam fiber optic, copper-based, RF and RJ connectors and cable assemblies), and Magnetic Solutions (integrated connector modules, power transformers, power inductors and discrete components). The Company operates facilities around the world.

    Company Contact:
    Farouq Tuweiq
    Chief Financial Officer
    ir@belf.com

    Investor Contact:
    Three Part Advisors
    Jean Marie Young, Managing Director or Steven Hooser, Partner
    631-418-4339
    jyoung@threepa.com; shooser@threepa.com

    The MIL Network

  • MIL-OSI Africa: The International Islamic Trade Finance Corporation (ITFC) Commences 2025 Islamic Development Bank (IsDB) Annual Meetings Focusing on Boosting Intra-Organisation of Islamic Cooperation (OIC) Trade in its Member Countries

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

    ALGIERS, Algeria, May 20, 2025/APO Group/ — ITFC signed a five-year Framework Agreement with the Republic of Senegal valued at EUR 2 billion. Signed by H.E. Dr. Abdourahmane Sarr, Minister of Economy, Planning and Cooperation and Governor of IsDB, and Eng. Adeeb Y. Al Aama, CEO of ITFC, the agreement will provide financing support across vital sectors such as energy procurement, agriculture, healthcare, and private sector development, helping to promote sustainable job creation. ITFC signed two agreements with its long-standing partner in Uzbekistan to expand Islamic trade financing solutions for the country’s private sector. The first agreement is a US$10 million Mudaraba Financing Agreement with JSCB Smartbank, a subsidiary of JSCB AgroBank, in addition to the second agreement to increase the amount of Line of Finance Facility to US$ 25 million. These agreements reflect the growing demand for Sharia-compliant products in Uzbekistan and lay the groundwork for future cooperation in treasury and liquidity management services. 

    Held at the Abdelatif Rahal International Conference Center in Algiers, the opening day of the IsDB Annual Meetings has set the stage for an ambitious and action-oriented week. ITFC’s participation is already sparking meaningful dialogue on the future of trade financing and trade development across the member countries, addressing critical sectors such as food security, energy access, SME growth, and the expansion of digital trade. With several additional agreements and high-level engagements anticipated in the coming days, ITFC continues to strengthen its role as a catalyst for sustainable economic transformation. 

    MIL OSI Africa

  • MIL-OSI Banking: Secretary-General of ASEAN attends Working Dinner hosted by Ambassador of Japan to ASEAN

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, this evening attended a Working Dinner hosted by Ambassador of Japan to ASEAN Kiya Masahiko, in Jakarta. Both sides took the opportunity to exchange views on ASEAN-Japan cooperation, including ways to further enhance the ASEAN-Japan Comprehensive Strategic Partnership.

    The post Secretary-General of ASEAN attends Working Dinner hosted by Ambassador of Japan to ASEAN appeared first on ASEAN Main Portal.

    MIL OSI Global Banks

  • MIL-OSI Russia: China’s tax revenue rises in April 2025

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    BEIJING, May 20 (Xinhua) — China’s tax revenue rose 1.9 percent year on year in April 2025, marking a turnaround from recession to growth, according to official data released by the Ministry of Finance on Tuesday.

    According to the agency, in the first four months of this year, the country’s tax revenues fell by 2.1 percent compared to the same period last year, while non-tax revenues grew by 7.7 percent year-on-year.

    The data also showed that China’s fiscal revenue in the first four months fell 0.4 percent year on year to 8.06 trillion yuan (about $1.12 trillion). -0-

    MIL OSI Russia News

  • MIL-OSI Russia: China approves projects with fixed asset investment worth 573.7 bln yuan in first four months

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    BEIJING, May 20 (Xinhua) — China approved 27 projects in the first four months of 2025, with fixed asset investment totaling 573.7 billion yuan (about 79.8 billion U.S. dollars).

    The projects primarily target sectors such as energy, agriculture, forestry, water conservation and high technology, Li Chao, a spokesperson for China’s National Development and Reform Commission (NDRC), said at a press conference on Tuesday.

    According to her, in April alone, the SCRR approved eight projects with investments in fixed assets totaling 377.1 billion yuan.

    China will update the catalogue of industries in which foreign investment will be encouraged, opening up more sectors including advanced manufacturing and the digital economy, Li Chao said.

    She noted that for more than 40 years, China has steadily promoted the policy of reform and opening up, remaining an ideal, safe and favorable place for foreign enterprises to invest.

    However, the current unilateral and protectionist measures taken by some countries have forced enterprises to take sides and make choices that are not in line with economic principles, causing significant disruption to the normal operation of multinational companies, Li Chao said, calling on relevant countries to immediately return to the right track of multilateralism and free trade, working together to bring certainty to global economic development.

    Li Chao said the NDRC is coordinating with relevant departments to speed up the implementation of a series of measures to stabilize employment and the economy while promoting high-quality development. Relevant departments are currently working hard to implement these measures, and most of them are expected to be put into effect by the end of June. -0-

    MIL OSI Russia News

  • MIL-OSI: Form 8.3 – [CRANEWARE PLC – 19 05 2025] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
    N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree
    CRANEWARE PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure
    19 MAY 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”
    N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 1p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 1,718,050 4.8519    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 1,718,050 4.8519    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    1p ORDINARY PURCHASE 3,700 2195p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD
    Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position
    Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.
    Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option
    Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion
    Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 20 MAY 2025
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network

  • MIL-OSI: Form 8.3 – [GLOBALDATA PLC – 19 05 2025] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
    N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree
    GLOBALDATA PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure
    19 MAY 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”
    N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 0.01p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 11,062,280 1.3716    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 11,062,280 1.3716    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    0.01p ORDINARY SALE 4,000 187.39p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD
    Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position
    Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.
    Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option
    Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion
    Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 20 MAY 2025
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network

  • MIL-OSI Africa: Provincial government lauds Harmony Gold’s R1.5b investment

    Source: South Africa News Agency

    Tuesday, May 20, 2025

    North West Premier Lazarus Kagiso Mokgosi has applauded Harmony Gold for an investment of R1.5 billion at its Stilfontein operations in the City of Matlosana. 

    The investment is a culmination of ongoing efforts by Mokgosi to lure investments and address the scourge of unemployment in the province. 

    “Earlier this year Premier Mokgosi met with the company’s Executive Management on the side-lines of the Africa Mining Indaba to discuss a number of issues relating to diversification, localisation and SMME development.

    “The initiative – which will create several job opportunities for the people of the province – adds to R7 billion worth of investment by the mine in 2022, which includes an extension of Moab-Khotsong operations at Stilfontein,” said the provincial government in a statement.

    Mokgosi said the investment gives credence to government’s efforts of fostering partnerships with the various stakeholders to create an enabling environment for investment and job creation. 

    “This forms part of a broader strategy by government to encourage investments in the province. I have no doubt that as more investments trickle in, several more job and business opportunities will be created and this will help reduce the high unemployment figures afflicting the province,” the Premier said.

    Newly appointed Chief Executive Officer Beyers Nel said the renewable energy investment forms part of its long-term investment and diversification strategy. 

    “Through our R7 billion investment in 2022, we managed to preserve 6000 jobs for locals, extending the mine’s lifespan by 20 years. In 2020, we acquired Mine Waste Solutions leading to an investment of over R2 billion and we have created close to 2500 jobs, 70% of which are locals.”

    Mokgosi lauded the mine and further urged them to support the Province’s Development Fund, which is primarily aimed at addressing infrastructure backlogs in the province. – SAnews.gov.za

    MIL OSI Africa

  • MIL-OSI Africa: Netherlands to work for successful G20

    Source: South Africa News Agency

    The Netherlands has reiterated its commitment to work for a successful G20 meeting which South Africa will host later this year.

    This is according to Minister of Foreign Affairs of the Netherlands, Caspar Veldkamp in a joint communiqué following the fourth meeting of the South Africa – Netherlands Joint Commission for Cooperation (JCC) on Monday.

    “The Ministers discussed the progress of South Africa’s G20 Presidency to which the Netherlands was invited for all meetings including the Leaders’ Summit. Minister Veldkamp reiterated that the Netherlands will continue to work for a successful G20, the first on African soil, under South Africa’s Presidency,” the communiqué read.

    South Africa is set to host the Group of Twenty (G20) Summit in November 2025. The G20 is an international forum of both developing and developed countries which seeks to find solutions to global economic and financial issues.

    South Africa’s Minister of International Relations and Cooperation, Ronald Lamola co-chaired the JCC in the Hague alongside Minister Veldkamp.

    In a statement on Monday, the Ministry of International Relations and Cooperation said the high-level dialogue between the Ministers underscored the enduring partnership between the two nations.

    READ | Minister Lamola arrives in Netherlands for Joint Cooperation Commission

    At the JCC, the Ministers noted the outcomes of the recent South Africa – European Union Summit and the agreement to start negotiations on a Clean Trade and Investment Partnership.

    “The Ministers expressed their commitment to a fruitful and successful Third AU-EU Ministerial meeting on 20 May 2025 in Brussels, paving the way for an AU-EU Summit in June 2025,” the communiqué stated.

    Held in Cape Town in March, President Cyril Ramaphosa described the 8th South Africa-European Union (EU) Summit as a “watershed” moment for trade and investment relations between South Africa and the regional bloc.

    READ | SA-EU Summit a ‘watershed’ moment for trade and investment relations

    “As a bloc, the European Union (EU) is one of South Africa’s largest trading partners and the source of much investment in our country. Our economic ties with European countries go back to colonial times. Since the advent of democracy 30 years ago, we have steadily been growing the volume and value of trade,” the President said.

    Additionally, the Ministers underlined the strong relations between South Africa and the Netherlands.

    “The Ministers underlined the strong, broad and friendly relationship between the Netherlands and South Africa, recalling the State Visit of Their Majesties King Willem-Alexander and Queen Máxima to South Africa in 2023.

    “The Ministers noted the progress that has been made in fostering the relationship between the two countries since the Third Meeting of the Joint Commission was held in Pretoria on 18 October 2023,” noted the communiqué. –SAnews.gov.za
     

    MIL OSI Africa

  • MIL-OSI Africa: Mashatile engages with SA and French businesses in roundtable dialogue

    Source: South Africa News Agency

    Deputy President Shipokosa Paul Mashatile has engaged with South African and French businesses during a Roundtable Breakfast Dialogue hosted by MEDEF International in Paris. 

    MEDEF is France’s largest business federation, representing over 750 000 companies, from SMEs to large multinationals. It plays a central role in promoting French economic diplomacy, supporting private sector development, and facilitating international investment and trade relationships.

    The Business Dialogue is an important platform for businesses from both countries to expand on existing cooperation and identifying new areas of cooperation, with a specific focus on trade and investment.

    “The South African Government has committed to spending more than R940 billion on infrastructure over the next three years. This funding will revitalise our roads and bridges, build dams and waterways, modernise our ports and airports, and power our economy. 

    “Moreover, investors have an opportunity to collaborate with the South African Government by investing in infrastructure such as ports, rail, electricity, and manufacturing to improve local value-addition and boost trade under the African Continental Free Trade Area,” the Deputy President said in his address at the Business Dialogue.

    The Deputy President also touched on the European Union-SA Summit, which took place in Cape Town in March 2025, where there was an announcement of the EU investment package of around R90 billion to support investment projects in South Africa. 

    In addition, Mashatile met with Thierry Deau, Group CEO of Meridiam and Chairperson of the Global Long-Term Infrastructure Investors Association. 

    Meridiam is a global investment firm specialising in public infrastructure, with assets under management exceeding €12 billion. It focuses on long-term investments in transport, energy, social infrastructure, and environmental projects, with a commitment to sustainable development and inclusive growth.

    READ | Deputy President in France for a working visit

    During the meeting, the two discussed, among others, the importance of collaboration with various stakeholders, including infrastructure investors, policymakers, and academia, as being crucial for promoting responsible and long-term private capital deployment in public infrastructure.

    The Deputy President indicated that he is certain that South Africa and France can achieve new heights of prosperity through strengthening their economic links and encouraging closer cooperation. – SAnews.gov.za

    MIL OSI Africa

  • MIL-OSI United Kingdom: Israel and the Occupied Palestinian Territories: Foreign Secretary statement, 20 May 2025

    Source: United Kingdom – Executive Government & Departments 3

    Oral statement to Parliament

    Israel and the Occupied Palestinian Territories: Foreign Secretary statement, 20 May 2025

    Statement by Foreign Secretary David Lammy to the House of Commons on the situation in Israel and the Occupied Palestinian Territories

    With permission, Madam Deputy Speaker, I will make a statement on Israel and the Occupied Palestinian Territories.

    This weekend, the Israeli Defence Force started a new, extensive ground operation throughout Gaza, Operation Gideon’s Chariot. Five Israeli divisions are now operating there.

    Prime Minister Netanyahu says that they are going to take control of the Strip letting only minimal amounts of food reach Gazans. Madam Deputy Speaker I quote Prime Minister Netanyahu – “just enough to prevent hunger.”

    Fewer than ten trucks entered Gaza yesterday. The UN and WHO have issued stark warnings of the threat of starvation hanging over hundreds of thousands of civilians. Madam Deputy Speaker, this is abominable.

    Civilians in Gaza facing starvation, homelessness, trauma, desperate for this war to end, now confront renewed bombardment, new displacement and new suffering. And the remaining hostages kept apart from their loved ones by Hamas for almost six hundred days are now at heightened risk from the war around them.

    Madam Deputy Speaker, two months ago the ceasefire collapsed. Since then, the humanitarian catastrophe has rapidly intensified.

    For eleven weeks, Israeli forces have blockaded Gaza, leaving the World Food Programme without any any remaining stocks. Israel has repeatedly struck hospitals, with three more hospitals in northern Gaza ceasing operations this weekend.

    Yet more aid workers and medical workers have been killed. After last year proved the deadliest year on record for humanitarian personnel.

    The diplomatic deadlock between Israel and Hamas has sadly also hardened. Despite the efforts of the United States, Qatar and Egypt – which we of course support – no ceasefire has emerged.

    We repeat our demand that Hamas release all the hostages immediately and unconditionally and reiterate that they cannot continue to run Gaza.

    Madam Deputy Speaker, we are now entering a dark new phase in this conflict. Netanyahu’s government is planning to drive Gazans from their homes into a corner of the Strip to the south and permit them a fraction of the aid that they need.

    Yesterday, Minister Smotrich even spoke of Israeli forces “cleansing” Gaza, “destroying what’s left”, of resident Palestinians “being relocated to third countries”.

    We must call this what it is. It is extremism. It is dangerous. It is repellent. It is monstrous. And I condemn it in the strongest possible terms.

    Madam Deputy Speaker, Israel suffered a heinous attack on October 7th and the Government has always backed Israel’s right to defend itself. We have condemned Hamas and its abhorrent treatment of the hostages. And we have stood with families and demanded their loved ones be released.

    But the planned displacement of so many Gazans is morally unjustifiable, wholly disproportionate and utterly counter-productive. Whatever Israeli ministers claim, this is not the way to bring the hostages safely home.

    Nearly all the hostages have been freed through negotiations, not military force. And that is why hostage families themselves – and many other Israelis – oppose this plan so strongly.

    Nor will this plan eliminate Hamas or make Israel secure. This war has left a generation orphaned and traumatised, ready for Hamas to recruit. As we learned in Northern Ireland to defeat terrorists and their warped ideology you cannot just rely on military might. You have to offer a viable political alternative. Opposing the expansion of a war that’s killed thousands of children is not rewarding Hamas.

    Madam Deputy Speaker, since entering office, we have taken concerted action on Gaza.

    We restored funding to UNRWA. We supported the independence of international courts. We suspended arms export licences. We provided food and medical care to hundreds of thousands of Gazans. We’ve worked with Arab partners on a plan to ensure a reconstructed Gaza no longer run by Hamas.

    And since Israel restarted strikes on Gaza, this Government has demanded Israel change course. Privately, in my conversations with Foreign Minister Sa’ar and Strategic Affairs Minister Dermer, and publicly, in repeated joint statements with my French and German counterparts, we have made clear that Israel’s actions are intolerable.

    We have raised our concerns in the UN Security Council and before the International Court of Justice. Yesterday, my Right Honourable Friend the Prime Minister joined leaders from France and Canada strongly opposing the expansion of Israel’s military operations. And the UK led a further statement with twenty-seven partners criticising Israel’s proposed new aid delivery mechanism and defending the essential humanitarian principles of the international system that the UK did so much to establish in the first place.

    Our message is clear. There is a UN plan ready to deliver aid at scale, needed with mitigations against aid diversion. There are brave humanitarians ready to do their jobs. There are 9,000 trucks at the border. Prime Minister Netanyahu: end this blockade now and let the aid in.

    Regrettably, Madam Deputy Speaker, despite our efforts, this Israeli government’s egregious actions and rhetoric have continued. They are isolating Israel from its friends and partners around the world. Undermining the interests of the Israeli people. And damaging the image of the state of Israel in the eyes of the world.

    I find this deeply painful, as a lifelong friend of Israel and a believer in the values expressed in its declaration of independence.

    As the Prime Minister and fellow leaders said yesterday, we cannot stand by in the face of this new deterioration. It is incompatible with the principles that underpin our bilateral relationship. Rejected by Members across this House and frankly it’s an affront to the values of the British people.

    Therefore today, I am announcing that we have suspended negotiations with this Israeli government on a new free trade agreement. We will be reviewing cooperation with them under the 2030 Bilateral Roadmap.

    The Netanyahu government’s actions have made this necessary. Madam Deputy Speaker, today, my Honourable Friend the Minister for the Middle East is summoning the Israeli Ambassador to the Foreign Office to convey this message.

    I say now to the people of Israel: we want, I want a strong friendship with you based on our shared values with flourishing ties between our people and societies. We are unwavering in our commitment to your security and to your future, to countering the very real threat from Iran, the scourge of terrorism and the evils of antisemitism.

    But the conduct of the war in Gaza is damaging our relationship with your government. And, as the Prime Minister has said, if Israel pursues this military offensive as it has threatened, failing to ensure the unhindered provision of aid, we will take further actions in response.

    The UK, Madam Deputy Speaker, will not give up on a two-state solution. Israelis living in secure borders, recognised and at peace with their neighbours, free from the threat of terrorism. Palestinians living in their own state, in dignity and security, free of occupation.

    The two-state solution remains the ideal framework, indeed, the only framework, for a just and lasting peace. But as the House knows, its very viability is in peril.

    Endangered not only by the war in Gaza, but by the spread of illegal Israeli settlements and outposts across the Occupied West Bank, with the explicit support of this Israeli government.

    There are now weekly meetings to approve new settlement construction. Settlement approval has accelerated while settler violence has soared. Here too, we have acted, repeatedly pressing for a change in this course and direction, sanctioning seven entities last October, and signing a landmark agreement to bolster support for the Palestinian Authority, when Prime Minister Mustafa visited London just last month.

    But here too, we must do more. Today, we are therefore imposing sanctions on a further three individuals and four entities involved in the settler movement.

    I have seen for myself the consequences of settler violence. The fear of its victims. The impunity of its perpetrators. Today, we are demonstrating again that we will continue to act against those who are carrying out heinous abuses of human rights.

    Madam Deputy Speaker, despite the glimmer of hope from January’s ceasefire, the suffering from this conflict has worsened. But January showed another path was possible.

    We urge Netanyahu’s government to choose this path. The world is judging. History will judge them. Blocking aid, expanding the war, dismissing the concerns of your friends and partners. This is indefensible and it must stop.

    I commend this statement to the House.

    Updates to this page

    Published 20 May 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Deputy Prime Minister speech to UKREiif – 20 May 2025

    Source: United Kingdom – Government Statements

    Speech

    Deputy Prime Minister speech to UKREiif – 20 May 2025

    Transcript of the Deputy Prime Minister’s speech at the UK Real Estate and Infrastructure Forum (UKREiiF) on 20 May 2025.

    Good morning!

    It’s fantastic to be back at UKREiiF, as Deputy Prime Minister.

    And it’s excellent to be here in Leeds.

    A great city under a great council and West Yorkshire’s Mayor, my friend Tracy Brabin.

    From Holbeck to Hunslet to Horsforth, it’s being remade and reborn.     

    Creating new good-quality jobs as well as opportunities for growth and investment.

    And it’s a testament to partnership between local, regional, and national government.

    And I want to say a big thanks to all of you here today. And it was great to hear Tom and the enthusiasm when I was backstage then and also throwing down the gauntlet to us to say we will match your ambition if you’ve got it, Tom we have that ambition.

    From our local leaders to housebuilders to investors.

    For the part you’re playing in all of this.

    And I’m here, today, to tell you that there’s more to come…

    … As we get Britain building again as part of our Plan for Change.

    I said last year that we would deliver this change.

    New homes, new infrastructure projects, jobs, higher living standards, strong communities and a strong economy.

    And I said that we would deliver this by working in partnership.

    By backing you to build, invest and succeed.

    So that our country and that is what we can do together to succeed.

    Last year, I told you about a new development that I had just visited in my own constituency.

    That delivered 62 much-needed new social and affordable homes.

    For families in my community who needed them.

    I told you what that development meant to me.

    [Political content removed]

    Because our vision is not just building houses, but it’s building homes for people of our country.

    And building the communities in which they live.

    We have a target to build 1.5 million homes this Parliament.

    As most of you in this room know I’m a straight talker, so I’ll say it straight.

    I know that target is stretching.

    [Political content removed]

    But I won’t shy away from the challenge.

    It’s desperately needed after years of failure.

    But I also want to be clear that our vision for housing is about so much more than hitting one target.

    We must continue building well beyond this Parliament.

    These must be well-designed, decent homes for local people.

    And they must come alongside the GP surgeries, schools and parks they need too.

    So, how will we know we’re succeeding?

    Firstly, if we get more and more homes – in every part of the country,  including here in West Yorkshire – built long into the future too.

    We can’t just ramp-up housebuilding over the next few years.

    Secondly, if more people have a home they can afford.

    And we bring crippling costs down.

    Thirdly, if we’re ensuring all homes are safe, secure and warm.

    And we’re driving down bills for working people.

    And finally, if we’re tackling the shameless homelessness crisis that is destroying the life chances of so many.

    Now this will demand huge ambition.

    And I am ready to meet it.

    Already, we are creating the right conditions for building.

    Ensuring smarter regulation for planning.

    And pro-growth and pro-building policy.

    We’re also working in partnership with you –

    Investors, industry…

    … The builders of our great nation.

    And I want to see new players, entrepreneurs and disruptors flourish.

    Small and medium enterprises, community-led housing projects and Councils who can disrupt the market for the better.

    Radically changing what we build, and who builds it.

    And transforming the system.

    To make it more diverse and innovative.

    Capable of not just delivering more homes, more quickly.

    But delivering secure, affordable and decent homes – for everyone, everywhere…

    And homes that will stand the test of time.

    I say that I don’t shy away from the scale of the crisis facing us.

    Because it is  monumentous.

    There’s barely a family in this country hasn’t been affected by it.

    The dream of home ownership has been snatched away from a generation.

    Just over 1.3 million people languish on waiting lists for social housing.

    It is a scandal we have over 160,000 children in temporary accommodation.

    Their lives have been held back.

    Our country is being held back.

    I know, from my own experience, how much having a secure, affordable home matters.

    Alongside decent work and a strong community.

    These were the foundations on which our parents and grandparents built good lives.

    But which are now just not there for too many working people.

    This is not just taking a personal toll, but it’s taking an economic one too.

    Because growth and development go hand in hand.

    Unlocking decent jobs, vital infrastructure and supporting our local economies.

    Which in turn delivers the growth that is so needed to improve living standards and revitalise our public services.

    Yet, I’ve heard from so many people since coming into office, how the system just stopped working.

    Desperate families failed.

    Local leaders feeling powerless to act.

    Developers navigating a complex system.

    This is not a series of crises.

    But the symptoms of a broken system.

    And so, nothing less than action everywhere will do.

    It’s a momentous challenge – but we will meet this moment.

    And in our first ten months of Government that is what I set out to do.

    We said getting shovels in the ground was crucial.

    And so, I wasted no time in turning the pages on years of decline.

    With unwavering action to reverse the tide and get Britain building again.

    We reintroduced local housing targets.

    [Political content removed]

    We set out and consulted on a new pro-growth, pro-supply National Planning Policy Framework within our first three weeks in Office.

    Unlocking brownfield and grey belt land for development.

    And before the summer was out, we started getting stalled sites moving again through our New Homes Accelerator.

    We’re pressing ahead with the hugely ambitious Planning and Infrastructure Bill.

    To speed up the delivery of new homes and critical infrastructure.

    With innovative reforms like our Nature Restoration Fund to unblock building.

    While creating a win-win for nature and development.

    As well as plans to modernise planning committees and bring in a new system of strategic planning.

    Changes which could add up to £7.5 billion to the UK economy over the next decade.  

    The New Towns Task force is also hard at work on its recommendations for sites.

    We’ve committed £3bn of support to small to medium enterprises and the build to rent sector, to access cheaper lending.

    And as part of our commitment to building 1.5 million homes this Parliament…

    …We’ll deliver  the biggest wave of affordable and social housing in a generation.

    And we’ve already topped up investment by £800 million.

    As well as a £2 billion top-up funding next year.

    With more to come at the Spending Review. 

    And that’s not all.

    Our landmark Renters’ Rights Bill was introduced within our first four months.

    Banning no fault evictions and giving the millions renting more security.

    In November, we also set out our blueprint to ending the feudal leasehold system.

    And earlier this year we published our Commonhold White Paper.

    Giving leaseholders more say and power over their homes and lives.

    And we’re empowering mayors through our devolution revolution.

    Because the homes we build must deliver for people in all corners of our country.

    This is the biggest shift of power from Whitehall to our town halls in a generation.

    That was why I was delighted to celebrate the launch of The Great North last night. Not just because I am a northerner.

    The North’s mayors coming together to herald a new era of Northern cooperation.

    Showing what’s possible when we work together.

    And we’re already seeing green shoots of this coming through.

    Today Homes England has announced it’s delivering thousands more homes across the country compared to last year.

    But this is just the start.

    Because I know that there is so much more that still needs to be done.

    As I’ve said, our planning reforms are a game-changer.

    But we know that there must also be a renewed focus on social housebuilding.

    I’m committed to resetting the foundations of the sector.

    And to give the sector stability and confidence to invest in the future.

    It’s also why we have made planning changes to support affordable housing too.

    And we’ve helped Councils to borrow sustainably from the Public Works Loan Board.

    Extending the preferential rate for council housebuilding to the end of 2025-26.

    And we’ll shortly be confirming future regulatory standards.

    To ensure that homes are safe, decent and warm.

    And that social housing tenants are treated with the respect that they deserve.

    Whilst also giving the sector the certainty to invest for the future. 

    I’m committed to this Council housebuilding revolution.

    And not just because social and affordable housing are a nice add-on.

    But because it’s essential to ensuring homes are built – and more quickly.

    Because we know developments with a mix of housing build out faster.

    And that affordable homes are the vital ingredient to unlocking private housebuilding too.

    Partnerships between housebuilders and the public sector – like Vistry’s partnerships model…

    And the projects between Homes England, Muse and Pension Insurance Corporation that are delivering 100% affordable sites in Bradford and Wakefield.

    And are adding greater diversity, ensuring we meet the needs of local communities.

    And I want to see these continue.

    And more partnerships like them too.

    We also want to see smaller housebuilders playing a bigger role.

    Both in terms of who builds our homes and the types of homes they build.

    They already make a significant contribution on smaller brownfield sites.

    Building out faster than is often possible on larger and more complex sites.

    So, we’re backing them to reclaim their rightful place as the backbone of housebuilding.

    But a diverse housing market also depends on a workforce that’s fit for the future.

    And so, we’re working closely with the construction sector to improve skills.

    And job opportunities across the country.

    The Chancellor has already announced £600 million to recruit an extra 60,000 construction workers by 2029.

    And I’m proud to be joining the inaugural meeting of the Construction Skills Mission Board with Mark Reynolds from Mace. This industry-led group will bring together the whole sector to invest in UK plc, and oversee industry plans to recruit 100,000 more workers per year by the end of the Parliament, securing the next generation of construction workers.  

    It’s also why we’re also plugging capacity back into local planning authorities.

    Making funds available to hire 300 new planners.

    And through reforms to our Planning and Infrastructure Bill, letting Councils set their own planning fees.

    And ringfencing this money to reinvest in planning.

    Today, we don’t have to look too far afield for inspiration.

    Just round the corner from this hall, the Leeds College of Building – the UK’s only specialist construction college – is training the next generation of workers.

    And when it comes to who will drive delivery, our Mayors will be key.

    With the powers we’re handing them, they will be critical to powering regional growth.

    They’ve already achieved so much.  

    South Yorkshire’s on course for 20,000 new homes over the next 20 years.

    In West Yorkshire, Mayor Brabin has helped get shovels in the ground on the Dyecoats project where 1,600 new homes will be built.

    In Greater Manchester, there’s a strategic place partnership with Homes England that’s supporting 10 councils with 13 projects.

    And in the North-East, Mayor McGuinness is supporting the delivery of 100 new family homes – including council housing – as part of a regeneration project in East Durham.

    And, just last week, Mayor Parker in the West Midlands, announced 300 affordable homes on the site of the former Yardley Sewage Works…

    … Including 150 for social rent.

    And going forward, we want to forge a stronger partnership between Mayors and Homes England.

    Moving Homes England to a more regionalised model, over time.

    This is Britain [Political content removed].

    Open to building.

    Open for business.

    And delivering for working people.

    So we give people the security and control they deserve.

    Regardless of whether they rent or they own their home.

    Or are in the private or social rented sector.

    We have big changes in the pipeline.

    Disrupting, diversifying and transforming the housing market.

    So that it delivers for working people.

    Big changes that mean big opportunities for investment and growth.

    I urge everyone across the whole system to seize them with both hands.

    To investors, I say: there are an exciting array of opportunities. Tom spoke about them.

    To our housebuilders, we have listened and we’re reversing the tide to create the right conditions.

    But now we need you to build, build, build.

    To our mayors, I say don’t hold back.

    Take control of planning to drive the growth across housing, transport and skills.

    Our councils, too, must raise their game with up-to-date Local Plans.

    And work together with housing associations to build a new generation of social housing.

    Because the days of business as usual are over.

    It’s time to fight for a brighter, more ambitious future for our country.

    And what better inspiration than Clement Attlee’s 1945 Labour Government.

    Out of the ruins of war, he built homes for heroes.

    And as we mark its 80th anniversary, it’s time to recommit ourselves to delivering in the same spirit.

    This is how we’ll unleash the growth and opportunities we all want to see.

    It’s how we will rebuild the foundations of a good life for everyone.

    And it’s how we will deliver for working people.

    Thank you.

    Updates to this page

    Published 20 May 2025

    MIL OSI United Kingdom

  • MIL-OSI Russia: IMF Executive Board Concludes the Fourth Review of Kosovo’s Stand-By and Resilience and Sustainability Facility Arrangements

    Source: IMF – News in Russian

    May 20, 2025

    • The Executive Board of the International Monetary Fund completed the Fourth and final review of Kosovo’s Stand-By and Resilience and Sustainability Facility Arrangements. The completion of the review makes available SDR 13.352 million (€16.08 million) under the SBA and SDR 7.744 million (€9.32 million) under the RSF.
    • The objectives of both programs have been successfully achieved. The economy has maintained healthy growth, inflation has notably decelerated, fiscal buffers have been rebuilt, and reforms have accelerated.
    • Building on the progress made under the programs, the authorities should continue with prudent fiscal policies, strengthen the fiscal framework, and advance structural reforms in the fiscal and financial sectors.

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the Fourth and final review of Kosovo’s Stand-By and Resilience and Sustainability Facility Arrangements. The authorities have consented to the publication of the staff report and associated documents. The completion of the review makes available SDR 13.352 million (€16.08 million) under the SBA and SDR 7.744 million (€9.32 million) under the RSF. This will bring the total disbursements under the RSF to SDR 61.95 million (€74.61 million). The SBA, which so far has been treated as precautionary by the authorities, amounts to SDR 80.122 million (€96.50 million).

    Kosovo’s economic performance continues to be strong. In 2024, growth was 4.4 percent, driven by household consumption, supported by strong private credit and rising wages. Inflation decelerated sharply, reaching an average of 1.6 percent in 2024 down from 4.9 percent in 2022. The external current account deficit widened to 9 percent of GDP, as increases in consumption and investment led to higher imports; growth of remittances slowed. In 2025, despite heightened external uncertainty from rising trade tensions, growth is expected to remain strong at 4 percent, with inflation stabilizing at 2¼ percent.

    Program implementation under both arrangements has been strong. All quantitative performance criteria for end-December 2024 were met. All indicative targets for end-December 2024 and for end-March 2025 were also met. Two structural benchmarks for this review—implementation of a cash forecasting function within the Treasury and the development of a roadmap for adopting the Supervisory Review and Evaluation Process to assess bank risk profiles—were implemented. The remaining RSF reform measure to launch an auction for the construction and operation of the wind power plant has also been implemented.

    Following the Executive Board’s discussion, Bo Li, IMF Deputy Managing Director and Acting Chair, issued the following statement:

    “The Kosovo authorities have successfully implemented a Stand-By Arrangement and an Arrangement under the Resilience and Sustainability Facility. The SBA supported the authorities’ economic program to reduce inflation and sustain strong growth, while safeguarding the economy against adverse shocks. The RSF supported the authorities’ ambitious climate reform agenda.

    “Prudent fiscal policies under the SBA, anchored in the authorities’ rules-based fiscal framework, helped deliver low deficits and debt. In 2025, fiscal policy will aim to sustain growth amid heightened uncertainty, strengthen buffers against future shocks and continue addressing large developmental needs. An ongoing review of the fiscal framework seeks to align it with EU norms while supporting Kosovo’s developmental objectives and maintaining fiscal discipline.

    “The structural fiscal agenda has considerably advanced under the SBA. Revenue mobilization has improved through broadening the tax base, leading to higher tax collection. Public financial management reforms have enhanced capacity to assess fiscal risks, improved the quality of fiscal reporting, and increased fiscal transparency. Strengthening the public investment management system will help to further boost execution rates of public investment.

    “The Central Bank of Kosovo (CBK) has been driving forward critical reforms to enhance governance and institutional quality, develop the financial sector and strengthen resilience. The banking sector continues to expand rapidly providing vital support to economic activity while maintaining strong capitalization, liquidity, and profitability. The CBK is strengthening its ability to monitor risks related to rapid private sector credit growth.

    “Reform measures implemented under the RSF have been instrumental in advancing the authorities’ ambitious strategic energy goals, including expanding renewable generation capacity, reducing pollution, improving energy efficiency, and enhancing regional cooperation. The authorities remain committed to making continued and meaningful progress across all these areas.”

    Kosovo: Selected Economic Indicators, 2022–25

    Population: 1.6 million (2024)

    Nominal GDP per capita (2024): € 6,497

    Gini index: 0.29 (2017)

    Poverty rate: 19.8% (2018)

    Quota (current): SDR 82.6 million

    Main products and exports: Minerals, base metals, agricultural products, tourism.

    2022

    2023

    2024

    2025

    Act.

    Act.

    Prel.

    Proj.

    Output

       Real GDP growth (percent)

    4.3

    4.1

    4.4

    4.0

    Employment

       Unemployment rate (percent)

    12.6

    10.9

    Prices

       Consumer prices (period average, percent)

    11.6

    4.9

    1.6

    2.3

       GDP deflator

    7.2

    4.6

    2.0

    3.8

    General government finances (percent of GDP)

       Revenue and grants

    28.1

    29.5

    30.0

    29.8

       Expenditure

    28.8

    29.8

    30.3

    31.9

       Overall balance, excluding IFI- and privatization-financed capital projects (Fiscal rule definition)

    -0.5

    -0.1

    -0.1

    -1.6

       Overall balance

    -0.7

    -0.2

    -0.3

    -2.1

       Total public debt

    20.0

    17.5

    16.9

    18.3

       Stock of government bank balance

    3.9

    2.8

    3.1

    3.4

    Money and credit

       Non-performing loans (percent of total loans)

    1.9

    1.9

    1.8

       Credit to the private sector (eop, percent change)

    16.0

    12.9

    18.3

    15.8

       Effective bank lending rate (eop, percent)

    6.3

    6.3

    5.9

    Balance of payments (percent of GDP)

       Current account balance

    -10.3

    -7.6

    -9.0

    -8.3

       Remittance inflows

    13.7

    13.8

    13.1

    12.6

       Net foreign direct investment

    -6.8

    -6.9

    -6.1

    -7.5

       External debt

    38.6

    39.8

    41.1

    42.4

    Sources: Kosovo authorities and IMF staff estimates.

                   
    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Camila Perez

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/05/19/pr25154-kosovo-imf-concludes-4th-review-of-kosovos-stand-by-and-rsf-arrangements

    MIL OSI

    MIL OSI Russia News

  • MIL-OSI USA: Testimony Before the United States House Appropriations Subcommittee on Financial Services and General Government

    Source: Securities and Exchange Commission

    Chairman Joyce, Ranking Member Hoyer, and members of the Subcommittee. Thank you for inviting me to testify today.[1]

    I am grateful for the opportunity to discuss the SEC, including our important mission on behalf of our fellow citizens, investors, and taxpayers.  I also appreciate the opportunity as well to speak to some of my priorities as Chairman.

    Four weeks ago today, I was sworn in by Secretary of the Treasury Scott Bessent in the Oval Office with President Donald Trump; my family was by my side. I am honored by the trust and confidence that the President and the Senate placed in me to lead the SEC.

    As I testify before you, this is my 20th working day as Chairman. I have returned to the SEC where I was a Commissioner from 2002 to 2008. In that time, I advocated for greater transparency at the agency and emphasized robust cost-benefit analysis when considering new regulations. I also previously served on the staff of two SEC chairmen—Richard Breeden, appointed by President George H.W. Bush, and Arthur Levitt, appointed by President Bill Clinton.

    With my fellow Commissioners, Congress, and SEC staff, I look forward to working to ensure that the United States is well-positioned to seize on the new excitement for investment and economic opportunity that President Trump’s leadership and pro-growth policies have inspired.

    SEC Mission

    First and foremost, it is a new day at the SEC. I am determined that we return to our core mission that Congress set for us more than 90 years ago.

    The SEC’s three-part mission was enunciated by Congress in the Exchange Act: protecting investors; facilitating capital formation; and maintaining fair, orderly, and efficient markets.  

    Investor protection is vital to our mission—holding accountable those who lie, cheat, and steal. The SEC will remain vigilant in our important role to ensure that investors have confidence to participate in the markets.

    Capital formation is also at the root of what we do—fostering a direct, economical route for investors’ capital to find its way to entrepreneurs and industry to create products and services. This engine of growth employs people, helping them to work and save to achieve their dreams.

    The third core part of our mission is maintaining fair, orderly, and efficient markets. Congress calls on the Commission to ensure that our regulations balance costs and benefits, that they do not become too burdensome by adding needless friction to the marketplace, undermining the capital formation that yields so much benefit.

    During my tenure as chairman, the SEC will not stray from this core three-part mission.

    My time in public service and the private sector, both earlier in my career and more recently, has allowed me to see firsthand how regulations affect markets and investors. They can stoke innovation, facilitate investment goals, and create opportunities—or burdens—on businesses’ ability to compete and serve their customers.

    How we implement regulations at the SEC is crucial; it is one thing to write a regulation, quite another for it to achieve its intended goal. Regulation should be smart, effective, and appropriately tailored within the confines of our statutory authority.

    It takes market experience and focused application to ensure that customers and investors of financial services firms benefit from efficient, effective, and well-designed regulation. Our goal at the SEC must be to facilitate those efforts, analyze their effectiveness, and use our enforcement power to cure and rectify wayward actions.

    In short, clear rules of the road benefit all market participants.

    The SEC is returning rulemaking to regular order. Our comment periods will not be artificially short, and the public will have ample time to provide feedback. The SEC will also be sure to take into consideration how rules overlap and how regulatory burdens build, in keeping with our obligation to consider their costs and benefits. The SEC also looks forward to working with the Office of Information and Regulatory Affairs on our rulemaking.

    I am grateful to Commissioner Mark Uyeda for his stewardship of the agency as acting Chairman of the SEC from January to April, a very productive three months.

    During this transition, he brought clarity to some urgent policy issues that we faced in the courts and some organizational issues as the new Administration came into office.

    He established the Crypto Task Force together with Commissioner Pierce, which  has worked with staff to provide necessary guidance to the industry. He normalized the agency’s stance regarding materiality of disclosure requirements to comply with Supreme Court rulings and backed agency actions to extend certain compliance dates and remove personally identifiable information (PII) from the Consolidated Audit Trail (CAT).

    As we look ahead, I am confident in the direction of our work. My experience over the decades will naturally inform my approach as Chairman.

    The Commission will focus on providing meaningful pathways for entrepreneurs to obtain the capital that they need to execute their innovative ideas and grow their companies in both the private and public markets. At the same time, investors that provide such capital must be able to continue to depend on effective enforcement against fraudulent activities.

    Digital Assets

    From 2017 until my nomination, I worked to help develop best practices for the digital assets industry and saw firsthand how ambiguous or nonexistent regulations in this space created uncertainty and inhibited innovation. That lack of regulatory framework also invites fraud. 

    A key priority of my Chairmanship will be to develop a rational regulatory framework for crypto asset markets that establishes clear rules of the road for the issuance, custody, and trading of crypto assets while continuing to discourage bad actors from violating the law. Clear rules of the road are necessary for investor protection against fraud—not the least to help them identify scams that do not comport with the law.

    Policymaking will be done through notice and comment rulemaking not through regulation-by-enforcement. The Commission will utilize its existing authorities to set fit-for-purpose standards for market participants. The Commission’s enforcement approach will return to Congress’ original intent, which is to police violations of these established obligations, particularly as they relate to fraud and manipulation.

    This undertaking requires coordination across multiple offices and divisions within the Commission, which is why I am pleased that Commissioner Uyeda and Commissioner Hester Peirce have worked together to establish the Crypto Task Force. For too long, the Commission has been hindered by policymaking silos. The Crypto Task Force exemplifies how our policy divisions can come together to expeditiously provide long-needed clarity and certainty to the American public.

    I am confident that Commissioner Peirce, known for her principled and tireless advocacy for common-sense policy, is the right person to lead the Crypto Task Force’s effort to come up with a rational regulatory framework for crypto asset markets.

    The task force has held four roundtables so far on further defining security status, tailoring regulation for crypto trading, custody considerations, and tokenization. I look forward to the input from industry and additional public feedback during the next roundtable on decentralized finance.

    This is important work. Entrepreneurs across the United States and around the world are harnessing blockchain technology to modernize aspects of our financial system. I anticipate  benefits from this market innovation for efficiency, cost reduction, transparency, and risk mitigation.

    SEC Commissioner Roles

    In addition to Commissioner Peirce’s continued leadership of the Crypto Task Force, I have asked Commissioner Uyeda to be our “ambassador” to the International Organization of Securities Commissions (IOSCO). Commissioner Caroline Crenshaw has agreed to take on the SEC’s administrative law proceedings framework and the procedures in adjudications used by our administrative law judges in light of Supreme Court rulings that oblige us to rethink and reform this area.

    SEC Staff Numbers

    The SEC’s Offices and Divisions have decreased headcount by 15% since the beginning of the current fiscal year. Many of our colleagues at the SEC elected to take advantage of the Administration’s Fork in the Road, Voluntary Early Retirement Authority (VERA) or Voluntary Separation Incentive Payments (VSIP). Some left to pursue other opportunities. These departures leave vacancies that in many cases need to be filled. When I left the agency in 2008, we had approximately 3,600 employees. At our height a year ago, we had approximately 5,000 employees plus 2,000 contractors. Today we are at approximately 4,200 employees and 1,700 contractors.

    Reorganization

    Under Acting Chairman Uyeda, the reporting lines in the Divisions of Enforcement and Examinations were realigned to better reflect each Division’s national programs to improve efficiency, management, and oversight of the Divisions. There will be targeted, common-sense reorganizations to come at the SEC. To start, I am seeking approval from Congress to disband what is known as agency’s Strategic Hub for Innovation and Financial Technology (FinHub). Innovation should be ingrained into the culture SEC-wide and not limited to a relatively small office. Established in 2018, FinHub was created during a critical period of emerging technologies. The rapid development of distributed ledger technology, including digital assets, artificial intelligence, and machine learning, required a centralized effort to build understanding at the SEC. The principles and priorities under which it was established are being integrated into the very fabric of the SEC.

    Technology Review and Optimizing Efficiency

    We have begun a process to review our technology infrastructure and our contractual obligations. This review is long overdue—call it a spring cleaning and reassessment of contracts, especially regarding information technology.

    We publicly announced last week that the Commission determined that certain masked data fields on publicly available reports on Form N-PORT submitted between Feb. 3, 2025, and May 8, 2025, were inadvertently made public on the SEC’s EDGAR system. This was the result of a software update effective Feb. 3. The masking error has been corrected and did not affect Form N-PORT filings made after May 8, 2025.

    This situation is not acceptable. I have directed the initiation of a comprehensive review of the EDGAR system to ensure for data integrity. We need to evaluate what we have, where our vulnerabilities are, and how we can shore up and improve our systems. We will work on optimizing our efficiency and eliminating redundancy.  

    SEC Regional Offices and Leasing

    The SEC has 10 regional offices across the country. In late February, the GSA informed the SEC that it would terminate leases utilized by the SEC’s Los Angeles Regional Office and the Philadelphia Regional Office. Discussions with the GSA and the landlords are ongoing, and I will keep this committee apprised of those developments.  In the meantime, the leases are in their “soft term” and are not terminated.

    I firmly believe in the SEC’s regional office concept. We cannot and should not have all of the SEC’s staff in Washington and New York. Risk management, human resource development, and practicality for our examination teams –as one example – provide ample reinforcement for the need to maintain these offices.

    SEC Funding

    The SEC’s budget is set through the Appropriations process. Fees on securities transactions that the SEC collects provide an offset. The annual collections–fees paid by SROs based on the aggregate dollar amount of securities sales–go to the Treasury’s general fund.

    On April 8, 2025, the SEC announced that starting on May 14, 2025, the fee rates applicable to most covered sales would be set at $0 per million in securities transactions.[2] The Commission determined this new rate in accordance with Section 31 of the Securities Exchange Act of 1934.

    The Commission collected its entire fiscal year 2025 appropriation before the new fee rate of $0 per million became effective on May 14. The prior fee rate was $27.80 per million. The Commission is required to set the fee rate to a level that generates fees equal to the Commission’s appropriated amount, so no further collections for fiscal year 2025 are required.

    The Commission will continue to keep this committee, and the public, informed of developments relating to fees on the SEC website.

    Conclusion

    As I said at the outset of this testimony, it is a new and brighter day for the SEC.

    We will work with our colleagues in the Administration, especially other financial services regulators, and with Congress to bolster the economy and build on U.S. leadership of the global markets.

    This is a pivotal moment for our economy. Entrepreneurs, businesses, and individuals here at home and across the globe are eager to invest in America.

    This SEC will work to protect investors from fraud, keep politics out of how our securities laws and regulations are applied, and advance clear rules of the road that encourage investment in our economy to the benefit of all Americans.

    This SEC will work to ensure that regulations promote capital formation rather than stifle it. We will work together to ensure American investors get disclosures that actually help them understand the true risks of an investment.

    This SEC will make every effort to ensure that the U.S. is the best and most secure place in the world to invest and do business. Americans should always have utmost confidence when investing their hard-earned dollars to save and provide for their future and the future of their families.

    Thank you.

     


    [1] The views expressed in this testimony are those of the Chairman of the U.S. Securities and Exchange Commission and do not necessarily represent the views of the President, the full Commission, or any Commissioner. 

    MIL OSI USA News

  • MIL-OSI: Media Agencies Under Pressure, Turning to AI to Strengthen Financial Health and Cash Flow, AvidXchange Survey Reveals

    Source: GlobeNewswire (MIL-OSI)

    CHARLOTTE, N.C., May 20, 2025 (GLOBE NEWSWIRE) — AvidXchange Inc. (Nasdaq: AVDX) a leading provider in accounts payable (AP) automation software and payment solutions for mid-market businesses and their suppliers, today announced findings from its 2025 Media Agency Health Survey.

    The survey polled financial leaders at U.S. media and advertising agencies, revealing rising concerns about cash flow management and growing demand for AI-driven solutions to strengthen their financial health.

    Key Drivers of Financial Health
    Agencies cited revenue growth (92%), data protection (91%), and fraud prevention (88%) as vital to financial stability. Cash flow, improved invoicing, talent management, and operational efficiency also ranked as important contributors. These priorities reflect a continued need to protect profitability while safeguarding operations in an increasingly complex financial landscape.

    Adapting to Uncertainty
    Agencies continue to feel the pinch of economic uncertainty, with 35% losing clients to in-house advertising in 2025, a 20% jump from 2024. Rising turnover, up 32% from 2024, is further stretching teams that are already facing tight budgets.

    Cash Flow Pressures Rise
    Despite 85% of respondents rating cash flow as critical to financial health, many agencies struggle with managing it. In 2024, 54% of agencies reported extended payment terms from clients, and 36% expect continued disruptions to cash flow, making it harder to manage expenses and growth.

    AI and Automation are Transforming Financial Operations
    71% of agencies already use AI in finance, and 97% are open to new automation tools. Among adopters, 80% have automated significant parts of their finance function, including payment processes. Media finance teams are using AI-enhanced tools to tackle a key pain point—invoice reconciliation—which takes up 30–40% of finance leaders’ time.

    “Media agencies are under more pressure than ever as clients reallocate budgets to safeguard their businesses in today’s uncertain economy, and as a result, agency leaders are scrutinizing operations, revenue strategies, and cost drivers more closely,” said Dan Drees, President of AvidXchange. “That’s where AvidXchange comes in. Our world-class AP automation technology provides greater visibility and control over their bills, backed by an incredible customer support team dedicated to helping them navigate change and drive efficiency.”

    Survey Methodology
    AvidXchange used the third-party market research company Prodege to conduct an online survey to 156 decision makers at U.S. media and advertising agencies, conducted between January 23-26, 2025.  

    About AvidXchange®  
      
    AvidXchange (Nasdaq: AVDX) is a leading provider in accounts payable (AP) automation, offering intelligent AP software and payment solutions specifically designed for mid-market businesses and their suppliers. With 25 years of industry experience, AvidXchange modernizes the way businesses manage their expenses and payments by offering AI-enhanced software coupled with support from experts. Empowering over 8,500 growth-driven businesses, AvidXchange increases efficiency, control, and visibility in financial operations and has securely processed payments to more than 1.3 million suppliers through its proprietary payment network over the past five years. For more information, visit avidxchange.com.

    Media Contact:   
    Alexis Riddick
    Public Relations Manager
    AvidXchange
    pr@avidxchange.com

    The MIL Network