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Category: Business

  • MIL-OSI: ICG Enterprise Trust announces realisation of Datasite

    Source: GlobeNewswire (MIL-OSI)

    22 July 2025

    ICG Enterprise Trust announces realisation of Datasite, its fourth largest portfolio company

    ICG Enterprise Trust plc (“ICGT”) is pleased to announce that it has fully realised its co-investment1 in Datasite, a provider of software focused on virtual data rooms. At 31 January 2025, Datasite was ICGT’s fourth largest company exposure, accounting for 1.9% of the Portfolio value. The co-investment portion accounted for 1.6% of the Portfolio value.

    As a result of the sale ICGT has received cash proceeds of $30 million (£22 million), representing a 3% premium to the valuation at Q1 FY26.

    ICGT made an $18 million co-investment (£14 million) in Datasite alongside ICG Strategic Equity V and CapVest in 2024. The transaction has generated an attractive return, particularly given the short hold period2.

    1Following this transaction, ICGT will retain a small stake in Datasite through its commitment to ICG Strategic Equity V. At 31 January 2025 this indirect exposure represented 0.3% of the Portfolio value.

    2Does not necessarily reflect the expected future performance and should not be used to compare returns among multiple private equity funds.

    Enquiries

    Analyst / Investor enquiries:  
    Martin Li, Shareholder Relations, ICG +44 (0) 20 3545 1816
    Nathan Brown, Deutsche Numis +44 (0) 20 7260 1426
    David Harris, Cadarn Capital +44 (0) 20 7019 9042
       
    Media:  
    Clare Glynn, Corporate Communications, ICG +44 (0) 20 3545 1395
       
    Website:  
    www.icg-enterprise.co.uk  

    About ICG Enterprise Trust

    ICG Enterprise Trust is a leading listed private equity investor focused on creating long-term compounding growth by delivering consistently strong returns through selectively investing in profitable, cash-generative private companies, primarily in Europe and the US.

    We invest in companies directly as well as through funds managed by ICG and other leading managers who focus on creating long-term value and building sustainable growth through active management and strategic change.

    We have a long track record of delivering strong returns through a flexible mandate and highly selective approach that strikes the right balance between concentration and diversification, risk and reward.

    Disclaimer

    This report may contain forward looking statements. These written materials are not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption therefrom. The issuer has not and does not intend to register any securities under the US Securities Act of 1933, as amended, and does not intend to offer any securities to the public in the United States. No money, securities or other consideration from any person inside the United States is being solicited and, if sent in response to the information contained in these written materials, will not be accepted.

    The MIL Network –

    July 22, 2025

  • MIL-OSI: NBPE – Net Asset Value(s)

    Source: GlobeNewswire (MIL-OSI)

    THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS

    NBPE Announces June Monthly NAV Estimate

    St, Peter Port, Guernsey, 22 July 2025

    NB Private Equity Partners (NBPE), the $1.2bn1, FTSE 250, listed private equity investment company managed by Neuberger Berman, today announces its 30 June 2025 monthly NAV estimate.

    NAV Highlights (30 June 2025)

    • NAV per share was $27.42 (£20.01), a total return of 0.5% in the month
    • Total realisations of $68 million and $8 million of follow-on investments in the first half of 2025
    • $284 million of available liquidity at 30 June 2025
    • ~51k shares repurchased (~$1 million) during June 2025 at a weighted average discount of 30% which was accretive to NAV by ~$0.01 per share. Year-to-date, NBPE has repurchased ~759k shares (~$15 million) at a weighted average discount of 29% which was accretive to NAV by ~$0.11 per share
    As of 30 June 2025 Year to Date One Year 3 years 5 years 10 years
    NAV TR (USD)*
    Annualised    		 1.3% 3.6% 5.8%
    1.9%    		 76.1%
    12.0%    		 158.3%
    10.0%
    MSCI World TR (USD)*
    Annualised    		 9.3% 16.8% 68.0%
    18.9%    		 101.9%
    15.1%    		 189.9%
    11.2%
               
    Share price TR (GBP)*
    Annualised    		 (7.6%) (6.9%) 10.4%
    3.3%    		 91.6%
    13.9%    		 185.1%
    11.0%
    FTSE All-Share TR (GBP)*
    Annualised    		 9.1% 11.2% 35.5%
    10.7%    		 67.3%
    10.8%    		 92.7%
    6.8%

    * All NBPE performance figures assume re-investment of dividends on the ex-dividend date and reflect cumulative returns over the relevant time periods shown. Three-year, five-year and ten-year annualised returns are presented for USD NAV, MSCI World (USD), GBP Share Price and FTSE All-Share (GBP) Total Returns.

    Portfolio Update to 30 June 2025

    NAV performance during the month driven by:

    • 0.7% NAV increase ($9 million) from changes in FX rates
    • 0.1% NAV increase ($1 million) attributable to changes in prices of quoted holdings (which now constitute 6% of portfolio fair value)
    • Immaterial impact on NAV from additional private valuation information received during the month
    • 0.2% NAV decrease ($3 million) attributable to expense accruals

    $68 million of realisations in the first half of 2025

    • Of the $68 million received during the first half, over three-quarters of the proceeds are from full and partial sales / exits of private holdings; remaining realisations consisted of proceeds from the sales of quoted holdings and other partial realisations

    $284 million of total liquidity at 30 June 2025

    • $74 million of cash and liquid investments with $210 million of undrawn credit line available

    2025 Share Buybacks

    • ~51k shares repurchased in June 2025 at a weighted average discount of 30%; buybacks were accretive to NAV by ~$0.01 per share
    • Year-to-date, NBPE has repurchased ~759k shares at a weighted average discount of 29% which were accretive to NAV by ~$0.11 per share

    Portfolio Valuation

    The fair value of NBPE’s portfolio as of 30 June 2025 was based on the following information:

    • 6% of the portfolio was valued as of 30 June 2025
      • 6% in public securities
    • 94% of the portfolio was valued as of 31 March 2025
      • 94% in private direct investments

    For further information, please contact:

    NBPE Investor Relations        +44 (0) 20 3214 9002
    Luke Mason        NBPrivateMarketsIR@nb.com  

    Kaso Legg Communications        +44 (0)20 3882 6644

    Charles Gorman        nbpe@kl-communications.com
    Luke Dampier
    Charlotte Francis

    Supplementary Information (as at 30 June 2025)

    Company Name Vintage Lead Sponsor Sector Fair Value ($m) % of FV
    Action 2020 3i Consumer 86.6 6.9%
    Osaic 2019 Reverence Capital Financial Services 63.4 5.0%
    Solenis 2021 Platinum Equity Industrials 59.8 4.7%
    BeyondTrust 2018 Francisco Partners Technology / IT 47.7 3.8%
    Monroe Engineering 2021 AEA Investors Industrials 44.7 3.5%
    Business Services Company* 2017 Not Disclosed Business Services 40.2 3.2%
    Branded Cities Network 2017 Shamrock Capital Communications / Media 37.3 3.0%
    True Potential 2022 Cinven Financial Services 35.6 2.8%
    Mariner 2024 Leonard Green & Partners Financial Services 33.7 2.7%
    FDH Aero 2024 Audax Group Industrials 32.9 2.6%
    Marquee Brands 2014 Neuberger Berman Consumer 31.6 2.5%
    GFL (NYSE: GFL) 2018 BC Partners Business Services 30.5 2.4%
    Auctane 2021 Thoma Bravo Technology / IT 29.1 2.3%
    Fortna 2017 THL Industrials 28.7 2.3%
    Staples 2017 Sycamore Partners Business Services 27.7 2.2%
    Viant 2018 JLL Partners Healthcare 27.3 2.2%
    Engineering 2020 NB Renaissance / Bain Capital Technology / IT 27.2 2.2%
    Stubhub 2020 Neuberger Berman Consumer 26.4 2.1%
    Agiliti 2019 THL Healthcare 25.3 2.0%
    Kroll 2020 Further Global / Stone Point Financial Services 25.0 2.0%
    Benecon 2024 TA Associates Healthcare 24.7 2.0%
    Solace Systems 2016 Bridge Growth Partners Technology / IT 24.6 1.9%
    Excelitas 2022 AEA Investors Industrials 24.1 1.9%
    Exact 2019 KKR Technology / IT 24.0 1.9%
    Constellation Automotive 2019 TDR Capital Business Services 21.4 1.7%
    CH Guenther 2021 Pritzker Private Capital Consumer 21.2 1.7%
    Tendam 2017 PAI Consumer 20.0 1.6%
    Addison Group 2021 Trilantic Capital Partners Business Services 19.9 1.6%
    Bylight 2017 Sagewind Partners Technology / IT 19.9 1.6%
    Real Page 2021 Thoma Bravo Technology / IT 18.8 1.5%
    Total Top 30 Investments                              $979.2 77.5%

    *Undisclosed company due to confidentiality provisions.

    Geography % of Portfolio
    North America 76%
    Europe 23%
    Asia / Rest of World 1%
    Total Portfolio 100%
       
    Industry % of Portfolio
    Tech, Media & Telecom 23%
    Consumer / E-commerce 22%
    Industrials / Industrial Technology 17%
    Financial Services 14%
    Business Services 11%
    Healthcare 8%
    Other 3%
    Energy 1%
    Total Portfolio 100%
       
    Vintage Year % of Portfolio
    2016 & Earlier 10%
    2017 16%
    2018 13%
    2019 13%
    2020 14%
    2021 18%
    2022 6%
    2023 2%
    2024 8%
    Total Portfolio 100%

    About NB Private Equity Partners Limited
    NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

    LEI number: 213800UJH93NH8IOFQ77

    About Neuberger Berman
    Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $538 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger’s investment philosophy is founded on active management, fundamental research and engaged ownership. The firm has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last eleven years (firms with more than 1,000 employees). Visit www.nb.com for more information, including www.nb.com/disclosure-global-communications for information on awards. Data as of June 30, 2025, unless stated otherwise.

    This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.

    NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE’s investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains “forward-looking statements.” Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.

    1Based on net asset value.

    Attachment

    • June 2025 NBPE Factsheet vF

    The MIL Network –

    July 22, 2025

  • MIL-Evening Report: South Australia’s algal bloom may shrink over winter – but this model suggests it will spread to new areas in summer

    Source: The Conversation (Au and NZ) – By Jochen Kaempf, Associate Professor of Natural Sciences (Oceanography), Flinders University

    South Australia is desperate for help to tackle an unprecedented harmful algal bloom that has decimated marine life up and down the coast. While the extent of the damage is still unknown, my preliminary research suggests there’s no end in sight. It may just get better over winter before it gets worse next summer.

    The Karenia mikimotoi bloom first appeared in March on two surf beaches outside Gulf St Vincent, about an hour south of Adelaide. It has since spread, killing all kinds of marine organisms – from crabs and small fish to sharks and rays. Only the neighbouring Spencer Gulf, far west coast and southeast coasts have been spared. For now.

    In preliminary research now undergoing peer review, I have predicted the bloom’s future spread using a new computer model. In the worst-case scenario, the harmful algal bloom would reach the Spencer Gulf and spread – from Port Lincoln to Whyalla and across to Port Pirie – next summer and autumn. That would be extremely bad news for the thriving seafood, aquaculture and tourism industries. They may need help to prepare.

    Some help is on the way. Federal Environment Minister Murray Watt yesterday announced A$14 million in federal funding. SA Premier Peter Malinauskas convened an Emergency Management Cabinet Committee meeting today and signed off on a $28 million support package.

    The worst-case scenario forecasts high concentrations of K. mikimotoi in both South Australian gulfs next April.
    Jochen Kaempf

    A rolling disaster

    The algal bloom was first noticed when dozens of surfers and beachgoers on the southern coast of the Fleurieu Peninsula fell ill after exposure to seawater in March.

    Soon, dangerous sea foam appeared. Then the killing began in earnest. Many marine species started washing up dead or dying.

    The bloom began to spread. In mid-April, K. mikimotoi was detected in water samples from Edithburgh and Coobowie on the southeastern corner of Yorke Peninsula.

    In early May, the Kangaroo Island Council announced the bloom had spread across the Investigator Strait affecting the island’s northern coastline.

    Wild weather in June pushed the bloom through the Murray Mouth into the Coorong.

    By July, the state government had detected K. mikimotoi along Adelaide’s metropolitan coastline. Videos of fish kills near the Ardrossan Jetty in the northern Gulf St Vincent also emerged.

    So far, the bloom has not been detected in Spencer Gulf. But my modelling suggests it’s only a matter of time.

    Predicting the future

    I was the first to discover the seasonal upwelling of nutrients in several regions along SA’s southern coastal shelf. This nutrient source fuels the marine food chain. It’s a big part of the reason why the marine life in our Great Southern Australian Coastal Upwelling System is so diverse.

    I also simulated the ocean currents in South Australian gulfs using computer models as early as 2009.

    I have now developed a computer model to predict where the algae will spread next.

    Preliminary results from this research have been submitted to the journal Continental Shelf Research and are being reviewed. But given the speed at which this situation is developing, it’s worth sharing a preprint of this manuscript.

    My model matches what’s known about the early spread of the bloom. It began in the coastal waters of the southern Fleurieu Peninsula. It then invaded Investigator Strait, between the Yorke Peninsula and Kangaroo Island, before slowly spreading in a clockwise circulation across the wider Gulf St Vincent.

    When the model is used to forecast how the algae bloom will evolve, the story becomes deeply concerning.

    It predicts the algal bloom will weaken over this winter, as the growth rate will slow in cooler water. In my model, the algae had already invaded the lower Spencer Gulf in May 2025 but at very low concentrations.

    Then, in the worst-case scenario of high growth rates and nothing stopping it, the model predicts the bloom will affect both gulfs – Gulf St Vincent and Spencer Gulf – and Investigator Strait, with severe conditions predicted for the coming summer.

    A bloom in the Spencer Gulf could decimate stocks of Australian sardine in the lower gulf, and potentially also western king prawns and the giant Australian cuttlefish in the upper Spencer Gulf. Some research suggests algal growth may be limited in the hypersaline upper reaches of the gulfs, but the spread of the algae as far as Ardrossan indicates otherwise.

    Under the best-case scenario, the algae’s natural predator, zooplankton, would eat more of the algae, suppressing future flare-ups. So there is some hope, but more research is needed to better understand how zooplankton could control these algae.

    SA also needs to make continuous efforts to monitor K. mikimotoi concentrations. This includes analysis of water samples in both gulfs. It’s important to note satellite images only show the peak phase of the toxic algal bloom, and can be misleading as they also display other species including blooms of “good” algae.

    Fortunately, the $28 million support package includes $8.5 million for early detection and monitoring of harmful algal bloom species. This will involve real-time sensors (buoys), satellite imagery and oceanographic modelling. A new $2 million national testing laboratory will check for toxins, while $3 million will be spent on a rapid assessment of fish stocks and fisheries.

    But if the algae stick around, there may be little anyone can do to protect our marine environment.

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

    – ref. South Australia’s algal bloom may shrink over winter – but this model suggests it will spread to new areas in summer – https://theconversation.com/south-australias-algal-bloom-may-shrink-over-winter-but-this-model-suggests-it-will-spread-to-new-areas-in-summer-261549

    MIL OSI Analysis – EveningReport.nz –

    July 22, 2025

  • Google clinches milestone gold at global math competition, while OpenAI also claims win

    Source: Government of India

    Source: Government of India (4)

    Alphabet’s Google and OpenAI said their artificial-intelligence models won gold medals at a global mathematics competition, signaling a breakthrough in math capabilities in the race to build systems that can rival human intelligence.

    The results marked the first time that AI systems crossed the gold-medal scoring threshold at the International Mathematical Olympiad (IMO) for high-school students.

    Both companies’ models solved five out of six problems, achieving the result using general-purpose “reasoning” models that processed mathematical concepts using natural language, in contrast to the previous approaches used by AI firms.

    While Google DeepMind worked with the IMO to have their models graded and certified by the committee, OpenAI did not officially enter the competition. The startup revealed their models have achieved a gold medal-worthy score on this year’s questions on Saturday, citing grades by three external IMO medalists.

    The achievement suggests AI is less than a year away from being used by mathematicians to crack unsolved research problems at the frontier of the field, according to Junehyuk Jung, a math professor at Brown University and visiting researcher in Google’s DeepMind AI unit.

    “I think the moment we can solve hard reasoning problems in natural language will enable the potential for collaboration between AI and mathematicians,” Jung told Reuters.

    OpenAI’s breakthrough was achieved with a new experimental model centered on massively scaling up “test-time compute.” This was done by both allowing the model to “think” for longer periods and deploying parallel computing power to run numerous lines of reasoning simultaneously, according to Noam Brown, researcher at OpenAI. Brown declined to say how much in computing power it cost OpenAI, but called it “very expensive.”

    To OpenAI researchers, it is another clear sign that AI models can command extensive reasoning capabilities that could expand into other areas beyond math.

    The optimism is shared by Google researchers, who believe AI models’ capabilities can apply to research quandaries in other fields such as physics, said Jung, who won an IMO gold medal as a student in 2003.

    Of the 630 students participating in the 66th IMO on the Sunshine Coast in Queensland, Australia, 67 contestants, or about 11%, achieved gold-medal scores.

    Google’s DeepMind AI unit last year achieved a silver medal score using AI systems specialized for math. This year, Google used a general-purpose model called Gemini Deep Think, a version of which was previously unveiled at its annual developer conference in May.

    Unlike previous AI attempts that relied on formal languages and lengthy computation, Google’s approach this year operated entirely in natural language and solved the problems within the official 4.5-hour time limit, the company said in a blog post.

    OpenAI, which has its own set of reasoning models, similarly built an experimental version for the competition, according to a post by researcher Alexander Wei on social media platform X. He noted that the company does not plan to release anything with this level of math capability for several months.

    This year marked the first time the competition coordinated officially with some AI developers, who have for years used prominent math competitions like IMO to test model capabilities. IMO judges certified the results of those companies, including Google, and asked them to publish results on July 28.

    “We respected the IMO Board’s original request that all AI labs share their results only after the official results had been verified by independent experts and the students had rightly received the acclamation they deserved,” Google DeepMind CEO Demis Hassabis said on X on Monday.

    OpenAI, which published its results on Saturday and first claimed gold-medal status, said in an interview that it had permission from an IMO board member to do so after the closing ceremony on Saturday.

    (Reuters)

    July 22, 2025

  • Google clinches milestone gold at global math competition, while OpenAI also claims win

    Source: Government of India

    Source: Government of India (4)

    Alphabet’s Google and OpenAI said their artificial-intelligence models won gold medals at a global mathematics competition, signaling a breakthrough in math capabilities in the race to build systems that can rival human intelligence.

    The results marked the first time that AI systems crossed the gold-medal scoring threshold at the International Mathematical Olympiad (IMO) for high-school students.

    Both companies’ models solved five out of six problems, achieving the result using general-purpose “reasoning” models that processed mathematical concepts using natural language, in contrast to the previous approaches used by AI firms.

    While Google DeepMind worked with the IMO to have their models graded and certified by the committee, OpenAI did not officially enter the competition. The startup revealed their models have achieved a gold medal-worthy score on this year’s questions on Saturday, citing grades by three external IMO medalists.

    The achievement suggests AI is less than a year away from being used by mathematicians to crack unsolved research problems at the frontier of the field, according to Junehyuk Jung, a math professor at Brown University and visiting researcher in Google’s DeepMind AI unit.

    “I think the moment we can solve hard reasoning problems in natural language will enable the potential for collaboration between AI and mathematicians,” Jung told Reuters.

    OpenAI’s breakthrough was achieved with a new experimental model centered on massively scaling up “test-time compute.” This was done by both allowing the model to “think” for longer periods and deploying parallel computing power to run numerous lines of reasoning simultaneously, according to Noam Brown, researcher at OpenAI. Brown declined to say how much in computing power it cost OpenAI, but called it “very expensive.”

    To OpenAI researchers, it is another clear sign that AI models can command extensive reasoning capabilities that could expand into other areas beyond math.

    The optimism is shared by Google researchers, who believe AI models’ capabilities can apply to research quandaries in other fields such as physics, said Jung, who won an IMO gold medal as a student in 2003.

    Of the 630 students participating in the 66th IMO on the Sunshine Coast in Queensland, Australia, 67 contestants, or about 11%, achieved gold-medal scores.

    Google’s DeepMind AI unit last year achieved a silver medal score using AI systems specialized for math. This year, Google used a general-purpose model called Gemini Deep Think, a version of which was previously unveiled at its annual developer conference in May.

    Unlike previous AI attempts that relied on formal languages and lengthy computation, Google’s approach this year operated entirely in natural language and solved the problems within the official 4.5-hour time limit, the company said in a blog post.

    OpenAI, which has its own set of reasoning models, similarly built an experimental version for the competition, according to a post by researcher Alexander Wei on social media platform X. He noted that the company does not plan to release anything with this level of math capability for several months.

    This year marked the first time the competition coordinated officially with some AI developers, who have for years used prominent math competitions like IMO to test model capabilities. IMO judges certified the results of those companies, including Google, and asked them to publish results on July 28.

    “We respected the IMO Board’s original request that all AI labs share their results only after the official results had been verified by independent experts and the students had rightly received the acclamation they deserved,” Google DeepMind CEO Demis Hassabis said on X on Monday.

    OpenAI, which published its results on Saturday and first claimed gold-medal status, said in an interview that it had permission from an IMO board member to do so after the closing ceremony on Saturday.

    (Reuters)

    July 22, 2025

  • MIL-OSI Banking: Financial Inclusion Index for March 2025

    Source: Reserve Bank of India

    The Reserve Bank of India had constructed a composite Financial Inclusion Index (FI-Index) in consultation with the concerned stakeholders including the Government, to capture the extent of financial inclusion across the country, which was first published in August 2021 for the FY ending March 2021.

    Index for the year ending March 2025 has since been compiled. The value of FI-Index for March 2025 stands at 67.0 vis-à-vis 64.2 in March 2024, with growth witnessed across all sub-indices, viz., Access, Usage and Quality. Improvement in FI-Index in FY 2025 is contributed by Usage and Quality dimensions, reflecting deepening of financial inclusion, and sustained financial literacy initiatives.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/759

    MIL OSI Global Banks –

    July 22, 2025

  • MIL-OSI United Kingdom: Sizewell C gets green light with final investment decision

    Source: United Kingdom – Executive Government & Departments

    Press release

    Sizewell C gets green light with final investment decision

    Government agrees final investment decision to give Sizewell C nuclear plant the go-ahead.

    • Energy Secretary signs off on multi-billion-pound deal for Sizewell C, that will deliver clean power for the equivalent of six million homes and support 10,000 jobs at peak construction. 

    • Government secures deal that will see Sizewell deliver electricity system savings of £2 billion a year on average once operational. 

    • The government will become the largest shareholder, alongside private investors EDF, Centrica, La Caisse and Amber Infrastructure. 

    •  Project will be built for around 20 per cent less than virtual replica Hinkley Point C, as part of the government’s Plan for Change to kick-start economic growth and protect family finances.

    Millions of working people will benefit from cheaper clean power, as the government agrees a landmark, multi-billion-pound deal to build Sizewell C – a major step forward in the delivery of a new ‘golden age’ of nuclear under the government’s Plan for Change. 

    The Energy Secretary has today (22 July) signed the final investment decision for Sizewell C, which will deliver clean power for the equivalent of six million homes and support 10,000 jobs once operational. The deal represents the country’s most significant public investment in clean, homegrown energy this century – in a major boost for energy security, jobs and economic growth.  

    The deal ends an era of dithering and delay to give Sizewell C the go-ahead, that will help secure Britain’s home-grown nuclear supply far beyond 2030. It marks a major step in the government’s clean energy superpower mission, which is about replacing the UK’s dependence on fossil fuel markets with clean homegrown power that the country controls, to bring down bills for good and protect family finances. 

    The plant will deliver cheaper clean electricity for generations of families for at least six decades. Analysis shows the project could create savings of £2 billion a year across the future low-carbon electricity system once operational – leading to cheaper power for consumers. 

    The project will also help to kick-start economic growth and get Britain building. At peak construction, Sizewell C will support 10,000 jobs directly employed in the project, and thousands more in the nationwide supply chain, as well as creating 1,500 apprenticeships. Seventy per cent of the value of construction is set to be awarded to British businesses – Sizewell C Ltd anticipates it will have 3,500 UK companies in its supply chain across the entire country.   

    Energy Secretary Ed Miliband said:

    It is time to do big things and build big projects in this country again- and today we announce an investment that will provide clean, homegrown power to millions of homes for generations to come. 

    This government is making the investment needed to deliver a new golden age of nuclear, so we can end delays and free us from the ravages of the global fossil fuel markets to bring bills down for good.

    The government has confirmed it will take an initial 44.9 per cent stake to become the single biggest equity shareholder in the project – meaning the British people will benefit from the government’s investment.  

    The new Sizewell C shareholders include La Caisse with 20 per cent, Centrica with 15 per cent, and Amber Infrastructure with an initial 7.6 per cent. This comes alongside French energy giant EDF taking a 12.5 per cent take in the project, set out earlier this month, as well as a proposed £5 billion debt guarantee from France’s export credit agency, Bpifrance Assurance Export, to back the company’s commercial bank loans.  

    Alongside this investment, the National Wealth Fund – the government’s principal investor and policy bank – is making its first investment in nuclear energy. It will provide the majority of the project’s debt finance, working alongside Bpifrance Assurance Export, to help support the building of the power plant. 

    Chancellor of the Exchequer Rachel Reeves said:

    La Caisse, Centrica and Amber’s multi-billion pound investment is a powerful endorsement of the UK as the best place to do business and as a global hub for nuclear energy. 

    Delivering next generation, publicly-owned clean power is vital to our energy security and growth, which is why we backed Sizewell C.  This investment will create thousands of good quality jobs and boost the local economy as we deliver on our Plan for Change.

    Julia Pyke and Nigel Cann, Joint Managing Directors of Sizewell C, said:

    We’re delighted to welcome new investors alongside Government and EDF who, like our suppliers, have strong incentives to keep costs under control and ensure we deliver Sizewell C successfully for consumers and taxpayers 

    By investing in Sizewell C, they are laying the foundations for a more secure, cleaner and more affordable energy system. Because 70% of our construction spend will be in the UK, with a £4.4bn commitment to the east of England, they will also help to create thousands of great jobs and new opportunities for people and businesses up and down the country.  

    We are determined to deliver this major infrastructure differently, and to make sure this is a project Britain can be proud of.

    The investment deal builds on lessons learnt from the construction of Hinkley Point C to provide a funding model that spreads the around £38 billion cost of constructing Sizewell C between consumers, taxpayers and private investors. This represents a saving of around 20 per cent compared with Hinkley Point C and demonstrates the value of building a virtual replica project. 

    For the first time, the British people will be co-owners of a nuclear power plant alongside experienced private sector partners – with consumers to benefit from the government’s investment. This will ensure the impact on consumer bills is limited to an average of around £1 per month over the duration of Sizewell C’s construction, with the nuclear plant to deliver cheaper clean power for decades to come once operational. 

    Despite the UK’s strong nuclear legacy, including opening the world’s first commercial nuclear power station in the 1950s, no new nuclear plant has opened in the UK since 1995, with all of the existing fleet except Sizewell B likely to be phased out by the early 2030s.   

    Sizewell C was one of eight sites identified in 2009 by then-Energy Secretary Ed Miliband as a potential site for new nuclear. However, the project was not fully funded in the 14 years that followed under subsequent governments.   

    The government’s nuclear programme is now the most ambitious for a generation. Once small modular reactors and Sizewell C come online in the 2030s, combined with Hinkley Point C, this will deliver more new nuclear to the grid than over the previous half century combined. 

    Recently, the government also set out next steps for small modular reactors in the UK and last month selected Rolls-Royce SMR as the preferred bidder to build first reactors of this kind in the country. Following this, the Prime Minister signed a new agreement with Czech Prime Minister Fiala last week that will see the two countries work more closely on small modular reactors to seize export opportunities and support high-skilled jobs. 

    John Flint, National Wealth Fund CEO, said:

    Nuclear energy is a key component on the path to deliver the Government’s growth and clean energy missions, and our financing for Sizewell C will help provide decades of clean, reliable electricity for millions of homes across the country.  

    We have a critical role to play in solving financing problems across a broad waterfront of relevant sectors and Treasury has recognised that today by providing the NWF with additional capital required to enable our lending to Sizewell C. As the government’s flagship investor and policy bank, it is a privilege to be able to play such a significant role in a project of such national importance.

    Gavin Tait, Chief Executive Officer, Amber Infrastructure Group, a Boyd Watterson Global Company, investment adviser to International Public Partnerships Limited, said: 

    We have worked in partnership with the UK Government to adapt the way a construction project of Sizewell C’s scale and importance can be financed to attract the long-term investment of institutional investors and retail savers. INPP has helped finance new infrastructure in the UK since 2006, and Sizewell C is a landmark example of how the public and private sectors can invest together to strengthen national energy security and support future economic growth.

    Chris O’Shea, Centrica Group Chief Executive, said:

    The UK needs more reliable, affordable, zero carbon electricity, and Sizewell C will be critical to supporting the country’s energy system for many decades to come. That’s why I’m delighted to be announcing this milestone investment which will see Centrica commit £1.3 billion for a 15% equity stake in the project, and deepens our long-standing involvement in the UK nuclear industry. This isn’t just an investment in a new power station – it’s an investment in Britain’s energy independence, our net zero journey, and thousands of high-quality jobs across the country. 

    Sizewell C is a compelling investment for our shareholders and the country as a whole, and I look forward to working with our world-class partners, EDF, La Caisse, Amber Infrastructure Group and the UK government, to make the project a great success.

    Simone Rossi, CEO of EDF in the UK said:

    EDF welcomes the government’s announcement that it has delivered on its commitment to take a final investment decision on the Sizewell C project.  

    Alongside Hinkley Point C, the project will help drive economic growth, strengthen energy security and lower bills over the long term. 

    The confirmation of the private investment is very positive and reflects the growing attraction of the role of nuclear power in the energy transition. It could also pave the way for the financing of future large nuclear projects in the UK.

    Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at La Caisse said:

    Our commitment to invest in Sizewell C reflects La Caisse’s constructive capital approach, working to deliver optimal financial performance for our clients alongside broader economic and societal progress.  

    La Caisse has a strong track record of bringing private sector expertise alongside governments and industrial players to invest in complex, regulated infrastructure where value-for-money for consumers is key. Sizewell C is a positive development for UK consumers, as it is expected to provide long-term reliable baseload power and low carbon energy to more than 6 million homes across the UK, while contributing to the creation of 10,000 new jobs at peak construction and thousands more in the nationwide supply chain.  

    We’re proud to support the UK Government in delivering this landmark project, advancing the country’s energy security and economic growth ambitions. Our investment demonstrates our confidence in the UK market – our largest destination outside North America – and aligns with our commitment to the energy transition and decarbonization, enabled by our long-term capital and active ownership.

    Ofgem CEO Jonathan Brearley said:

    Ofgem welcomes the government’s decision to move forwards with the Sizewell C project. New nuclear power stations such as this have a key role to play in enhancing Great Britain’s energy security with reliable domestically generated clean power.  

    Ofgem has been working closely with the government to develop the new regulatory framework to help drive investment in nuclear energy and deliver the best deal for consumers.

    Neil McDermott, Chief Executive of LCCC, said:

    Sizewell C is a pivotal project in the transition to a clean, secure energy system. It will deliver reliable low carbon power for decades to come, while supporting jobs and investment across the country. 

    LCCC is proud to support this milestone through its role as the revenue collection counterparty. Our independent role ensures funds are managed fairly and transparently, protecting value for consumers and enabling long-term investor confidence in low carbon infrastructure.

    Notes to editors:

    • Sizewell C has already signed £330 million in contracts with local companies and will boost supply chains across the UK with 70% of contracts predicted to go to 3,500 British suppliers – supporting new jobs in construction, welding, and hospitality.  

    • The government has published a subsidy scheme for the Final Investment Decision in Sizewell C. This scheme covers the government’s equity and debt investment in the project, as well as the value of consumer levies from the RAB delivery model – a Government Support Package to protect investors from high-impact low-probability risks, and other guarantees.  

    • The Sizewell C project is consolidated to the government’s balance sheet, meaning that all investment from the government and new investors is on the balance sheet.  

    • The total equity and debt finance made available exceeds the target construction cost of around £38 billion (2024 prices), this acts as a safeguard for taxpayers in case of overruns and is standard for a project of this size and complexity.  The project supply chain is strongly incentivised to keep costs down and investors will lose potential revenue if there are overruns, reducing risk for taxpayers. 

    • According to our Value for Money assessment SZC could reduce the cost of a low-carbon electricity system by around £2 billion per year on average, once operational.  

    • Urenco recently confirmed a 15-year deal with EDF to produce fuel for nuclear power stations. The multi-billion-euro contract, with significant value for the UK, will support Urenco UK’s workforce of more than 1,400 people and support the company’s important contribution to UK economic growth, which represented more than £256 million in 2023.  

    • French engineering company Assystem has also set out plans to double its nuclear workforce in the UK, creating 1,000 new engineering, digital and management jobs by 2030 across 10 UK sites, including in Sunderland, Blackburn, Derby, Bristol and London. 

    • The government is providing the National Wealth Fund with additional capital to facilitate this lending to Sizewell C, separate to the existing £27.8bn which will continue to be invested across the NWF’s priority sectors. For National Wealth Fund queries, please contact press@nationalwealthfund.org.uk

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    Published 22 July 2025

    MIL OSI United Kingdom –

    July 22, 2025

  • MIL-OSI New Zealand: UAE deal passes, unlocking $500 billion market

    Source: New Zealand Government

    The NZ-UAE Comprehensive Economic Partnership Agreement (CEPA) legislation has passed into law today, clearing the way for Kiwi exporters to tap into a $500 billion market that imports 90 per cent of its food, Agriculture, Trade and Investment Minister Todd McClay announced. 

    “The NZ-UAE CEPA delivers real benefits for New Zealand exporters, lowering costs, increasing access, and securing a stronger presence in the Middle East,” Mr McClay says.

    This is the highest-quality, and fastest, agreement negotiated by New Zealand that will immediately remove tariffs on 98.5 per cent of New Zealand’s exports upon entry to force, rising to 99 per cent in three years. 

    “This high-quality trade agreement builds on New Zealand’s strengths. UAE consumers are actively seeking safe, fresh products from around the world and are willing to pay more for them. This agreement gives New Zealand exporters an opportunity to lead in this competitive market,” Mr McClay says.

    Two-way trade between New Zealand and the UAE was worth $1.35 billion last year, and CEPA will accelerate growth by reducing red tape, boosting services trade, and supporting investment links.

    “Trade agreements are about opening doors and levelling the playing field for New Zealand exporters,” Mr McClay says.

    “The CEPA is another step toward achieving the Government’s goal of doubling the value of exports in 10 years. Growing our trade relationships helps boost the economy, lift incomes, and provide the public services Kiwis deserve.”

    The CEPA will enter into force following ratification procedures by both parties. 

    MIL OSI New Zealand News –

    July 22, 2025

  • MIL-OSI USA: Cortez Masto, Bipartisan Delegation Meet with Canadian Prime Minister, Discuss Critical U.S.-Canada Trade Partnership  

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto

    On a bipartisan trip to Ottawa, Senator Cortez Masto highlighted the harm President Trump’s trade war with Canada is having on Nevada’s travel and tourism economy

    Washington, D.C. – Today, U.S. Senator Catherine Cortez Masto (D-Nev.) returned from a bipartisan trip to Canada with Senators Ron Wyden (D-Ore.), Lisa Murkowski (R-Alaska), and Maggie Hassan (D-N.H.). While there, they met with Canadian Prime Minister Mark Carney to support the resolution of unnecessary trade conflicts between the United States and Canada, which are raising costs for American families and hurting Nevada’s travel and tourism industries.

    “Canada is one of America’s closest trade partners and allies, and in Nevada, we have a special connection with our neighbors to the north,” said Senator Cortez Masto. “Every year, well over a million Canadians visit the Silver State. Despite the chaos of the Trump presidency, I will continue to fight to ensure American workers are treated fairly, while strengthening our ties with Canada to bolster our tourism economy and promote American national security. We can do both.”

    In 2024, Canada was Nevada’s most important foreign market for travel, and 1.49 million Canadian visitors traveled to the state, primarily to Las Vegas. Since President Trump took office, however, the relationship between the United States and Canada has declined, threatening this vital travel and tourism relationship. The airlines with direct flights from Canada to Las Vegas have shown significant passenger declines this year, including a decrease of 64 percent for Flair, 34.6 percent for WestJet, and 22 percent for Air Canada. Overall, visitation from Canada to Las Vegas is down 14.5 percent this year.  

    The Senators also met with Foreign Minister Anita Anand, Finance Minister François-Philippe Champagne, Minister of Industry Melanie Joly and Canada-U.S. Trade Minister Dominic LeBlanc. The members raised a number of trade, tourism and economic issues, the importance of partnering on national security and cybersecurity, and on working together to combat fentanyl trafficking. 

    Senator Cortez Masto has continued to push the Trump Administration to address the impacts of Trump’s tariffs on working families and Nevada small businesses. During a Senate Finance Committee hearing, Cortez Masto pressed U.S. Trade Representative Greer about the impacts of President Trump’s blanket tariffs on Nevadans, particularly those employed in the tourism and hospitality industry. The Senator introduced the Tariff Transparency Act to require the U.S. International Trade Commission to publicly investigate how Donald Trump’s proposed tariffs on imports from Mexico and Canada would impact the American people.

    MIL OSI USA News –

    July 22, 2025

  • GST at Eight Years: Report Highlights Growth in Revenue and growing Women’s Inclusion in Formal Economy

    Source: Government of India

    Source: Government of India (4)

    There are over 1.52 crore active Goods and Services Tax (GST) registrations and one-fifth of registered GST taxpayers in India now have at least one woman, and 14 per cent of registered taxpayers have all female members (on the basis of the constitution of business), an SBI report revealed on Tuesday.

    This representation is substantially high in limited liability partnership (LLP) and private limited companies and the vectors of increased formalization and momentum in corporate playbook augur well for equitable representation in the offing, according to the SBI’s Economic Research Department report.

    “This data, along-with 15 per cent share of women in overall income taxpayers and 40 per cent in overall deposits, mirrors women empowerment,” said Dr Soumya Kanti Ghosh, Group Chief Economic Advisor, SBI.

    In just five years (FY21-FY25), gross GST collection doubled and even average monthly gross GST collection is now Rs 2 lakh crore. Top five states account for 41 per cent of gross revenue and six states have crossed Rs 1 lakh crore mark, Dr Ghosh added.

    States having GST collection of more than Rs 1 lakh crore have Integrated Goods and Service Tax (IGST) share of more than 30 per cent in their total domestic collection, emphasising the contribution of larger states in pushing GST collection across other states.

    On July 1, the GST completed eight years since its rollout. Introduced in 2017 as a major step towards economic integration, GST replaced a maze of indirect taxes with a single, unified system.

    It made tax compliance easier, reduced costs for businesses, and allowed goods to move freely across states. By improving transparency and efficiency, GST helped lay the foundation for a stronger, more integrated economy.

    “Our results indicate that convergence pattern strengthens over time, peaking in FY25 across all quantiles. By FY25, convergence is strong across the spectrum, indicating a broad-based equalising effect of GST,” said Dr Ghosh.

    Surprisingly, some of the larger and richer states like Telangana, Tamil Nadu, Kerala, Andhra Pradesh and even Karnataka have low share in active GST taxpayers vis-a-vis the state’s share in overall GSDP (Gross State Domestic Product).

    “Interestingly, states like Uttar Pradesh, Bihar and Gujarat share in total GST taxpayers is larger than the state’s share in overall GSDP. This indicate that there is still a vast untapped potential in GST in these states,” the report mentioned.

    (IANS)

    July 22, 2025

  • MIL-OSI Banking: Apple Retail arrives in Saudi Arabia with launch of Apple Store online

    Source: Apple

    Headline: Apple Retail arrives in Saudi Arabia with launch of Apple Store online

    July 21, 2025

    PRESS RELEASE

    Apple Retail arrives in the Kingdom of Saudi Arabia with launch of the Apple Store online

    RIYADH, SAUDI ARABIA Apple today announced the expansion of Apple Retail into the Kingdom of Saudi Arabia with the launch of the Apple Store online and Apple Store app, introducing support directly from Apple in Arabic for the very first time. The arrival of the online store marks a new era for customers in Saudi Arabia, who will be able to shop Apple’s full range of products with exceptional service delivered by Apple’s talented, dedicated team members.

    “We are thrilled to bring the Apple Store online and the Apple Store app to Saudi Arabia, offering customers a new way to explore and shop Apple’s extraordinary lineup of products and services,” said Deirdre O’Brien, Apple’s senior vice president of Retail and People. “Our customers in Saudi Arabia are passionate about the things they can do with technology, and our teams can’t wait to connect with customers and help them discover how Apple innovations can meaningfully enrich their daily lives.”

    The Most Personalized Shopping Experience

    The Apple Store online is the best place for customers in Saudi Arabia to discover and shop Apple’s full lineup of products. With the Apple Store app, customers can enjoy a personalized shopping experience with recommendations tailored to the Apple products they already own. Additionally, customers can compare different models, access their saved items, and easily track their orders.

    The Apple Store online and Apple Store app offer the most personalized experience for customers to shop iPhone. The iPhone 16 lineup is built from the ground up for Apple Intelligence, unlocking exciting new capabilities that make iPhone even more helpful and powerful, all while taking an extraordinary step forward for privacy.1

    Apple offers configure-to-order options for Mac customers, allowing them to select and customize the device to their specific requirements, including chip memory and storage. Customers can also personalize their Apple Watch case and band combination to create a unique look.

    For the first time ever, free engraving is available in Arabic and English on apple.com/sa-en/store. Customers can personalize their AirPods, Apple Pencil, AirTag, and more with text, emoji, and numbers in dual language.

    Apple’s Retail Services

    Apple’s incredible retail services make it easier than ever for customers in Saudi Arabia to discover and shop Apple technology.

    Personalized shopping support via chat and phone helps customers to find the best product that suits their needs. After receiving their order, customers can also connect with an Apple team member online to get help with Personal Setup, switching to iOS with easy and safe data migration, as well as cellular activation.

    To support flexible shopping, the Apple Store online will offer an affordability option through Tamara. With Buy Now Pay Later, customers can shop their favorite lineups and pay in four-month installments at 0 percent interest.

    The Apple Trade In program allows customers in Saudi Arabia to trade in their current device and receive credit toward a new one. If their device is not eligible for a credit, Apple will recycle it for free, diverting electronic waste from landfills and saving precious materials.

    With AppleCare+, customers can receive one-stop service and support from Apple experts available on iPhone, Mac, iPad, and Apple Watch. AppleCare+ provides customers with two years of priority support and service, priority access to experts, and protection for their devices.

    Through the Apple Education Store, higher education students, their parents, and teachers and staff at all levels can exclusively save on a Mac or iPad with Apple education pricing. And until September 30, eligible customers can take advantage of a special back-to-school offer that includes AirPods or an accessory of their choice when they buy an eligible Mac or iPad.

    Apple announced its plans to begin opening the first of several flagship Apple Store locations in Saudi Arabia starting in 2026. As part of this expansion, Apple is in the initial stages of planning an iconic retail store coming to Diriyah, a UNESCO World Heritage site. Apple’s retail expansion builds on its existing investments and activities in the country. This includes the region’s first Apple Developer Academy, which opened in Riyadh in 2021 in partnership with the Government of the Kingdom of Saudi Arabia, Tuwaiq Academy, and Princess Nourah bint Abdulrahman University.

    For all of the latest information and to learn more about Apple’s products and services, visit apple.com/sa-en/store.

    About Apple Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

    1. Apple Intelligence is available in beta on all iPhone 16 models, iPhone 15 Pro, iPhone 15 Pro Max, iPad mini (A17 Pro), and iPad and Mac models with M1 and later, with Siri and device language set to the same supported language, as part of an iOS 18, iPadOS 18, and macOS Sequoia software update. Supported languages include English, French, German, Italian, Japanese, Korean, Portuguese (Brazil), Chinese (simplified), and Spanish. More languages will be coming by the end of this year: Danish, Dutch, Norwegian, Portuguese (Portugal), Swedish, Turkish, Chinese (traditional), and Vietnamese. Some features may not be available in all languages or regions, and availability may vary due to local laws and regulations. For more details, visit apple.com/apple-intelligence.

    Press Contacts

    Pia Fontes

    Apple

    pia_fontes@apple.com

    Brian Bumbery

    Apple

    bumbery@apple.com

    Apple Media Helpline

    media.help@apple.com

    MIL OSI Global Banks –

    July 22, 2025

  • MIL-OSI: LHV Group unaudited financial results for Q2 and 6 months of 2025

    Source: GlobeNewswire (MIL-OSI)

    In Q2 of 2025, LHV Group was able to earn higher net profit and increase business volumes against the background of lower interest rates. The loan portfolio of LHV Group reached 5 billion euros.

    In Q2 2025, LHV Group earned a net profit of 30.8 million euros, which was 1.6 million euros more than in the previous quarter (+6% increase). The return on equity attributable to the shareholders of the Group was 17.4% in Q2.

    All subsidiaries of the Group were profitable in the quarter. LHV Pank earned a net profit of 29.7 million euros, LHV Bank Ltd 0.1 million euros, LHV Varahaldus 0.5 million euros and LHV Kindlustus 1.1 million euros.

    On a consolidated basis, LHV Group earned 73.9 million euros in revenue in Q1 2025, i.e. 7% less than in the previous quarter and 14% less than a year ago. Of the revenue of Q2 of this year, net interest income accounted for 57.6 million euros, and net fee and commission income for 15.6 million euros of total net income. Expenditure totalled 40.5 million euros, being 8% more than in the previous quarter and 11% more than a year ago. Due to the improvement of the macroeconomic situation, the previous provisions were undervalued in the amount of 4.2 million euros in the second quarter, which finally had a positive effect at the level of net profit.

    As at the end of June, LHV Group consolidated assets amounted to 9.38 billion euros, which was 10% more than in the previous quarter and 28% more than in the same period last year. The consolidated loan portfolio increased by 269 million euros or 6% to 5.0 billion euros over the quarter (the loan portfolio increased by 1.1 billion euros or 28% year-on-year). Consolidated deposits of LHV Group increased by 760 million euros, i.e. by 12%, to 7.36 billion euros. The volume of funds managed by LHV increased by 3.7 million euros, to 1.56 billion euros. The number of payments made by clients who are financial intermediaries was 19.9 million in the second quarter, which was slightly less than in the previous quarter.

    LHV Group’s consolidated net revenue for the 6 months of 2025 amounted to 153.3 million euros, which is 16.5 million euros or 10% less compared to the same period last year. Expenditure totalled 78.1 million euros, which was 7.8 million euros or 11% more. The Group’s 6-month consolidated net profit was 59.9 million euros, being a decrease of 19.4 million euros, or 24%, compared to the previous year. In six months, LHV Pank earned a net profit of 54.9 million euros, LHV Bank Ltd 2.3 million euros, LHV Varahaldus 0.6 million euros and LHV Kindlustus 1.7 million euros. LHV Group’s ROE for the first half of the year was 17.0%.

    Based on the first half of the year, LHV Group outperforms the financial forecast at the level of net income by 2.0 million euros and at the level of net profit by 2.3 million euros.

    Income statement, EUR Th Q2 2025 Q1 2025 Q2 2024
    adjusted
    Net interest income 57,643 62,010 70,424
    Net fee and commission income 15,579 14,071 14,352
    Net financial income -380 2,747 -37
    Net insurance income 1,065 597 421
    Other operating income and expense 0 -4 638
    Total net income 73,907 79,421 85,798
    Staff costs -22,901 -22,655 -20,420
    Office expenses -679 -659 -874
    IT costs -4,017 -3,576 -3,267
    Marketing expenses -1,526 -1,258 -796
    Other operating expenses -11,387 -9,394 -10,741
    Total expenses -40,510 –37,542 –36,098
    Operating profit 33,397 41,879 49,700
    Profit before allowances 33,397 41,879 49,700
    Allowances 4,152 -5,667 -5,043
    Income tax expenses -6,784 -7,052 -6,071
    Net profit 30,765 29,160 38,586
    Minority holding 716 592 300
    Shareholders’ share of profit of parent    company 30,049 28,568 38,286
           
    Net earnings per share, EUR 0.09 0.09 0.12
    Diluted earnings per share, EUR 0.09 0.09 0.12
           
           
           
     Balance sheet, EUR Th June 2025 March 2025 June 2024
    Cash and due from banks 3,867,487 3,279,271 3,217,448
    Financial assets 454,979 442,463 157,131
    Loans to clients 5,038,379 4,774,970 3,925,877
    Loan impairment reserve -39,734 -45,629 -35,333
    Receivables from clients 16,626 9,439 15,380
    Other assets 46,058 47,771 49,220
    Total assets 9,383,795 8,508,285 7,329,723
    Demand deposits 4,669,435 4,189,062 3,659,675
    Term deposits 2,694,906 2,415,430 2,124,254
    Loans received 1,037,347 936,215 735,281
    Due to clients and loans received 8,401,688 7,540,707 6,519,211
    Accruals and other liabilities 105,692 163,690 100,709
    Subordinated loans 161,155 126,247 107,521
    Total liabilities 8,668,535 7,830,644 6,727,441
    Owners’ equity 715,260 677,641 602,282
    incl. minority holding 7,850 7,134 7,694
    Total liabilities and owner’s equity 9,383,795 8,508,285 7,329,723
             
                 

    LHV Group’s net income in the second quarter was affected by the continuing decline in interest rates. The higher profitability compared to the previous quarter resulted in a write-down effect of the previous provisions, which resulted in an increase of the Group’s net profit by 1.6 million euros in the second quarter. The second quarter was also marked by strong growth in loan volumes and deposits, which were 269 and 760 million euros, respectively, compared to the previous quarter.

    The number of LHV Pank clients increased by 8,300 over the quarter. During the same period, the bank’s deposits increased by 576 million euros, of which 113 million euros were deposits from financial intermediaries and 113 million euros were platform deposits. In the second quarter, an innovative banking service LHV Premium was also launched, combining everyday banking, insurance and travel services offering investment comfort. In addition, a new price list for the securities trading and investment account for pension entered into force in the second quarter, which reduced several investment-related fees by almost half.

    LHV Pank’s loan portfolio increased by 190 million euros and the quality of the portfolio remained strong. Due to the resolution of one of the major problems with creditworthiness and the improved economic situation, the provisions made earlier were reduced by 4.1 million euros.

    In the second quarter, LHV Pank issued covered bonds with a maturity of four years in the amount of 300 million euros, which were listed on the Dublin Stock Exchange for the purpose of diversifying financing sources. Covered bonds secured by Estonian home loans were sold to European institutional investors. 44 institutional investors participated in the offer and the offer was 2.5 times oversubscribed.

    The volume of deposits and loans of LHV Bank operating in the United Kingdom continued to grow in the second quarter – the loan portfolio increased by 79 million euros to 569 million euros. At the same time, loans worth 204 million euros have been approved by the Credit Committee but not yet issued.

    The deposits taken by LHV Bank increased by 202 million quarter-on-quarter and reached a record 1.02 billion euros. In the second quarter, the mobile bank of retail banking was launched, where the first 1,000 clients have opened an account and 17 million euros of new deposits have been received. LHV Bank earned a net profit of 0.1 million euros in quarter-on-quarter terms – lower profitability was due to higher marketing costs, conference participation fees, allocated costs and changes in the value of interest rate risk hedging contracts. In order to support the rapid growth of the loan portfolio, the share capital was increased by 12 million euros and subordinated bonds were issued in the amount of 12 million euros. As of the first half of the year, LHV Bank’s net income and net profit exceed strongly the financial plan.

    LHV Kindlustus showed strong growth in the second quarter, when the insurance revenue increased by 78% and net profit by 62% compared to the previous quarter, but the result of the second quarter was slightly below the financial plan. The volume of insurance premiums across the market decreased significantly compared to the same quarter of the previous year. The results for the first half of the year are well above the financial forecast. As of the end of June, LHV Kindlustus had 176,000 clients and 278,000 valid insurance contracts.

    The good rate of return shown by global financial markets in the second quarter was also reflected in LHV’s pension funds, which all offered a positive rate of return. The rates of return of LHV pension funds M, L and XL were 1.2%, 1.0% and 2.8%, respectively, in the quarter. The rate of return of the more conservative funds XS and S was 0.7% and 0.8%, respectively. Pensionifond Indeks increased by 3.0% and Pensionifond Roheline lost 4.4% in value. Net income of LHV Varahaldus remained largely the same as in the previous quarter and net profit increased. The number of second pillar clients making active monthly contributions was 110,000 by the end of the quarter.

    As important information, it was disclosed that as of September 2, the green pension funds of LHV II and III pillar will cease operations, merge with other LHV funds and will be consolidated into LHV pension funds S and M, and the names of the II pension pillar funds will change. As a result of the changes, LHV clients will have the option to choose from four actively managed pension funds to grow their savings. Starting in September, LHV’s actively managed pension funds will be named Julge, Ettevõtlik, Tasakaalukas, and Rahulik.

    As of the end of the half-year, LHV Group is well capitalised. AT1 bonds worth 50 million euros and unsecured bonds worth 60 million euros were issued in the second quarter. Moody’s Ratings raised the ratings for LHV Pank’s covered bond programme and covered bonds to the highest level, Aaa. The Moody’s Investors Service ratings agency left AS LHV Pank’s long-term deposits rating at A3 (with a positive outlook) and LHV Group’s long-term issuer rating at Baa3 (positive outlook).The ratings confirm LHV’s strong financial position and capitalisation and express the expectation of a strengthening of creditworthiness.

    Comment by Madis Toomsalu, the Chairman of the Management Board at LHV Group: 

    “We are pleased that LHV has continued on a strong growth trajectory. Over the past year, our loan portfolio has grown by 1 billion euros, reaching 5 billion euros by the end of the half-year. This reflects increased investment confidence among Estonian companies, as well as the expansion of our UK loan book, which has now surpassed the 500 million euros mark. We’ve also seen a rise in demand for home loans and an overall increase in client activity. Several initiatives are underway to support continued growth going forward.”

    To access the reports of AS LHV Group, please visit the website at https://investor.lhv.ee/aruanded.

    In order to present the results of the quarter, LHV Group will organise an investor meeting via the Zoom webinar platform. The virtual investor meeting will take place before the market opens on 22 July at 9.00. The presentation will be in Estonian. We kindly ask you to register at the following address: https://lhvbank.zoom.us/webinar/register/WN_6RKaesfVT1qxJZ5BWiT4TA

    LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,100 people. As at the end of June, LHV Pank services are being used by 474,000 clients, the pension funds managed by LHV have 110,000 active clients, and LHV Kindlustus protects a total of 176,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized enterprises.

    Investor Relations

    Sten Hans Jakobsoo
    Head of Investor Relations and Corporate Development
    Email: stenhans.jakobsoo@lhv.ee

    Communications

    Paul Pihlak
    Head of Investment Communications
    Email: paul.pihlak@lhv.ee 

    Attachments

    The MIL Network –

    July 22, 2025

  • MIL-OSI Economics: Group CTO Tatsuo Ogawa: Beyond Reform—Technology Future Vision’s Progress and Direction for the Next Generation

    Source: Panasonic

    Headline: Group CTO Tatsuo Ogawa: Beyond Reform—Technology Future Vision’s Progress and Direction for the Next Generation

    The Panasonic Group is implementing extensive management reform, but which direction is technology pointing us in? What sort of future is taking shape before our eyes in this era of transformation? To explore the heart of the matter, we spoke with Tatsuo Ogawa, Executive Officer of Panasonic Holdings Corporation and Group CTO overseeing technology strategy.

    One year later: Three concepts and an unshakable commitment

    We unveiled our Technology Future Vision in July 2024. Since then we’ve received a remarkable amount of internal and external feedback. The support we’ve received, and the specific discussions relating to possible collaboration, have been very encouraging. We see many exciting challenges ahead as we work to realize the vision. The future it embodies remains the same, and we continue to create new technology and businesses as we map out our unique path and push forward.
    In particular, the three core concepts of energy and resources, nurturing a sense of fulfillment, and co-caring are vital guiding principles, as we integrate Panasonic technologies to achieve our overall goal of enhancing quality of life for everyone. We are pressing forward with research and development, so I would like to take this opportunity to update you on the progress we are making in multiple directions.

    1. Toward a society where energy and resources flow: Tackling the hard challenges of the global environment

    We are boldly tackling global environmental challenges through a wide range of R&D initiatives centered on the Green Transformation and Manufacturing Innovation Divisions.

    Perovskite solar cells

    These glass panels can generate energy where conventional solar panels cannot, for example as windows in dense urban areas. We already have a pilot manufacturing line producing near-commercial-size construction elements (1.0 m × 1.8 m). Our industrial inkjet printing system used to produce these panels is so advanced that it received the prestigious Okochi Memorial Technology Prize. Our goal is to integrate renewable energy generation into everyday urban infrastructure for better energy self-sufficiency and greater resilience in case of disasters.

    A Perovskite panel on display at Osaka’s Expo 2025 demonstrates the design potential this technology offers.

    Novitek Bio-CO₂ Transformation technology

    This biostimulant technology promotes plant growth by harnessing the power of photosynthesis, and represents an important step toward turning CO2 into a valuable resource. Field trials are underway in collaboration with Sumitomo Chemical Company, Limited, and Novitek is showing promise as a driver of sustainable agriculture with higher productivity and lower environmental impact.

    kinari (plant-derived cellulose fiber resin composite)

    Panasonic has developed moldable materials that are fully biodegradable in marine environments. It achieved this by taking its proprietary technology for blending high concentrations of plant-based cellulose fibers into resins and applying it to marine-biodegradable, plant-derived resins. In April 2025, Panasonic received the Ichimura Prize in Industry against Global Warming for this and related technologies.

    Tracephere traceability technology

    This technology uses the blockchain to make resource recycling and reuse transparent and trustworthy. It can bring us closer to realizing the circular economy by encouraging the use of recycled materials and preventing illegal dumping.

    Design for Circular Economy (DfCE)

    This initiative aims to drive the transition to a circular economy by designing products with ease of disassembly and recycling in mind. The effort is based on the MI Division’s perspective of maintaining and regenerating value in manufacturing, and will extend product lifespans and reduce waste.

    We also want to expand the positive impacts our activities are having on the environment in FY2025. Efforts in this direction are critically important, not only to halt but reverse biodiversity loss. To this end, we are investing resources in activities that directly support natural capital restoration. An example is our promotion of Nature Symbiosis Site research in areas where biodiversity is already being actively protected by companies, local government, NGOs, and others. These sites are part of Japan’s strategy to meet the global “30 by 30” goal of conserving at least 30% of land and sea by 2030. Another example would be conserving and regenerating blue carbon ecosystems by applying robotics and IoT technologies in collaboration with seaweed aquaculture startups. To ensure transparency and demonstrate our commitment to the environment, we are TCFD* disclosure-compliant and are working to meet TNFD** standards.
    * TCFD: Task Force on Climate-related Financial Disclosures. This organization promotes disclosure by enterprises and other entities of information relating to their climate change-related activities and policies, and how these relate to their financial posture.
    ** TNFD: Taskforce on Nature-related Financial Disclosures. An international organization founded to structure frameworks for corporate risk management relating to natural capital, and for related disclosure.

    2. Toward a society of fulfillment: Creating meaningful time

    We want our technology to help every member of society find fulfillment in their work and daily activities, and be able to have more meaningful, quality time. At the heart of this concept are initiatives from the Digital Transformation & Cyber-Physical Systems Division.

    With digital collection and analysis of data from frontline environments like manufacturing sites, and by providing optimized feedback, we are working to boost operational efficiency and quality and create safer, more secure working environments. We plan to evolve beyond straightforward Kaizen toward Gemba CPS 2.0, a next-generation approach where we reimagine business processes ourselves from the design stage.
    We are also developing systems that provide direct support to keep workers safe and enhance their productivity. One of these is Reliable/Safe Operation Support, which helps users prevent work-related accidents.

    3. Toward a society of co-caring: Caring for self and others

    The third concept is a society where a harmonious state of mind and body encourages co-caring relationships with the people around us. The key to realizing this society is technology that deepens Human Insight.

    Verification test environment for time value enhancement of travel experience

    Human Insight technology

    This uses advanced sensing to collect a wide range, not only of biometric data like heart rate, respiration, and physical movements, but also of behavioral data. It then applies AI to model the individual’s physical and mental condition and characteristics, and even aspects of interactions with others. Then, by stimulating the five senses through environmental parameters including light, sound, scent, and temperature sensations, it aims to guide the individual toward an enhanced state of well-being.

    We are developing technologies that use heart rate to identify different types of stress, score a subject’s degree of meditative depth and provide constructive feedback, apply measured levels of concentration to the improvement of work environments, and other applications. We are also exploring unique research topics. Biophilic Hi-Res Sound enhances relaxation through wide-band audio and can strengthen brainwaves associated with relaxation. Therapeutic Sound promotes mental and physical well-being using sound with inaudible components, and can reduce stress levels during cognitive tasks.
    These technologies are undergoing development and field testing in a range of settings and realistic use cases. The success of this work will enhance physical and mental well-being and help people realize more creative, fulfilling lives.

    Cell therapy solutions

    Regenerative medicine is a key area of focus. Treatments that utilize the patient’s own cells and iPS cells offer great promise. Nevertheless, cell manufacturing remains inefficient, labor-intensive, and costly. We are currently collaborating with partners including the Center for iPS Cell Research and Application (CiRA) at Kyoto University to develop an automated system that reliably produces high-quality therapeutic cells in a cost-effective way by combining Panasonic expertise in biotechnology, precision manufacturing equipment, data analysis, and simulation. We are confident we can help make individually-tailored treatments accessible to more people, and contribute materially to extending healthy life span and improving quality of life.

    Synergy between structural reform and technology development: Focusing on what truly matters

    Panasonic is implementing group-wide management reform, and the impact of these efforts naturally extends to our technology divisions. Budget cuts are part of our efforts to optimize our operations, but I don’t view this as a negative. Instead, I see it as a great opportunity to focus our resources on the initiatives that truly matter as we extend our technological development.
    Most important is to select the themes that are likely to have the greatest impact toward realizing our Future Technology Vision, and apply our limited resources to investments that will generate the greatest return.
    As we do so, open innovation-style collaboration with universities and enterprises will only become more important. To enhance the speed and quality of our development, we will actively incorporate external knowledge and technologies rather than attempt to go it alone.
    What matters most is that we foster a culture of embracing challenges. As our founder Konosuke Matsushita once said, “Don’t fear mistakes. Fear a lack of resolve.” The process of creating new value inevitably includes setbacks. What can we learn from them? How can we apply those lessons? I’m convinced that such experiences strengthen our entire technology organization.

    How will AI illuminate the future?

    AI is a critical enabling technology for current and future innovation. To reinforce our group commitment to AI, we have launched a new initiative called Panasonic Go. Its goal is to expand the share of AI-related businesses to 30% of group sales by FY2035. In my view, this transformation will mark our evolution into a new breed of enterprise, with seamless vertical and horizontal connections across multiple layers of the organization.

    While we are still defining specific business targets for FY2035, our goal is to leverage AI and data to connect value that is now provided through individual products and services. We will not simply embed AI in products, but apply it across R&D workflows to boost efficiency and boldly tackle the challenge of creating new value.
    As AI extends into every corner of society, security technology becomes more and more important. From individual product security to security for whole factories and complete IT systems, we are reinforcing our efforts to deliver safety and peace of mind to customers by combining cutting-edge AI with expertise accumulated over many years. We are already contributing to society in tangible ways, such as shielding manufacturing lines from malware, or structuring security systems for entire office buildings.

    Panasonic means hope to everyone invested in the future

    From my perspective as CTO, I’m continually giving thought to how Panasonic technologies can contribute to future society. I think the answer begins in our founding DNA, which embodies a deep-rooted desire to improve people’s lives through manufacturing.
    To those who will lead tomorrow’s society, especially young people shaping the future, and to our engineers at Panasonic, I would say this: Don’t do only what you can do, but keep asking yourself what you should do. No matter how challenging the circumstances, I hope you’ll never lose your optimism. My own motto is, “Good fortune comes to those who smile.” If you’re always optimistic and willing to tackle challenges, I’m confident that a path forward is certain to open up.
    For more than a century, Panasonic has been a part of people’s lives through technology. The trust and technological achievement we have accumulated throughout our history are precious assets. Nevertheless, we must keep our eyes on the future and continue to challenge ourselves to create new value.
    With the Future Technology Vision to guide us, we will achieve transformation as a united Panasonic Group, and do our utmost to deliver futures filled with promise.

    Related Articles

    MIL OSI Economics –

    July 22, 2025

  • MIL-OSI Economics: Group CTO Tatsuo Ogawa: Beyond Reform—Technology Future Vision’s Progress and Direction for the Next Generation

    Source: Panasonic

    Headline: Group CTO Tatsuo Ogawa: Beyond Reform—Technology Future Vision’s Progress and Direction for the Next Generation

    The Panasonic Group is implementing extensive management reform, but which direction is technology pointing us in? What sort of future is taking shape before our eyes in this era of transformation? To explore the heart of the matter, we spoke with Tatsuo Ogawa, Executive Officer of Panasonic Holdings Corporation and Group CTO overseeing technology strategy.

    One year later: Three concepts and an unshakable commitment

    We unveiled our Technology Future Vision in July 2024. Since then we’ve received a remarkable amount of internal and external feedback. The support we’ve received, and the specific discussions relating to possible collaboration, have been very encouraging. We see many exciting challenges ahead as we work to realize the vision. The future it embodies remains the same, and we continue to create new technology and businesses as we map out our unique path and push forward.
    In particular, the three core concepts of energy and resources, nurturing a sense of fulfillment, and co-caring are vital guiding principles, as we integrate Panasonic technologies to achieve our overall goal of enhancing quality of life for everyone. We are pressing forward with research and development, so I would like to take this opportunity to update you on the progress we are making in multiple directions.

    1. Toward a society where energy and resources flow: Tackling the hard challenges of the global environment

    We are boldly tackling global environmental challenges through a wide range of R&D initiatives centered on the Green Transformation and Manufacturing Innovation Divisions.

    Perovskite solar cells

    These glass panels can generate energy where conventional solar panels cannot, for example as windows in dense urban areas. We already have a pilot manufacturing line producing near-commercial-size construction elements (1.0 m × 1.8 m). Our industrial inkjet printing system used to produce these panels is so advanced that it received the prestigious Okochi Memorial Technology Prize. Our goal is to integrate renewable energy generation into everyday urban infrastructure for better energy self-sufficiency and greater resilience in case of disasters.

    A Perovskite panel on display at Osaka’s Expo 2025 demonstrates the design potential this technology offers.

    Novitek Bio-CO₂ Transformation technology

    This biostimulant technology promotes plant growth by harnessing the power of photosynthesis, and represents an important step toward turning CO2 into a valuable resource. Field trials are underway in collaboration with Sumitomo Chemical Company, Limited, and Novitek is showing promise as a driver of sustainable agriculture with higher productivity and lower environmental impact.

    kinari (plant-derived cellulose fiber resin composite)

    Panasonic has developed moldable materials that are fully biodegradable in marine environments. It achieved this by taking its proprietary technology for blending high concentrations of plant-based cellulose fibers into resins and applying it to marine-biodegradable, plant-derived resins. In April 2025, Panasonic received the Ichimura Prize in Industry against Global Warming for this and related technologies.

    Tracephere traceability technology

    This technology uses the blockchain to make resource recycling and reuse transparent and trustworthy. It can bring us closer to realizing the circular economy by encouraging the use of recycled materials and preventing illegal dumping.

    Design for Circular Economy (DfCE)

    This initiative aims to drive the transition to a circular economy by designing products with ease of disassembly and recycling in mind. The effort is based on the MI Division’s perspective of maintaining and regenerating value in manufacturing, and will extend product lifespans and reduce waste.

    We also want to expand the positive impacts our activities are having on the environment in FY2025. Efforts in this direction are critically important, not only to halt but reverse biodiversity loss. To this end, we are investing resources in activities that directly support natural capital restoration. An example is our promotion of Nature Symbiosis Site research in areas where biodiversity is already being actively protected by companies, local government, NGOs, and others. These sites are part of Japan’s strategy to meet the global “30 by 30” goal of conserving at least 30% of land and sea by 2030. Another example would be conserving and regenerating blue carbon ecosystems by applying robotics and IoT technologies in collaboration with seaweed aquaculture startups. To ensure transparency and demonstrate our commitment to the environment, we are TCFD* disclosure-compliant and are working to meet TNFD** standards.
    * TCFD: Task Force on Climate-related Financial Disclosures. This organization promotes disclosure by enterprises and other entities of information relating to their climate change-related activities and policies, and how these relate to their financial posture.
    ** TNFD: Taskforce on Nature-related Financial Disclosures. An international organization founded to structure frameworks for corporate risk management relating to natural capital, and for related disclosure.

    2. Toward a society of fulfillment: Creating meaningful time

    We want our technology to help every member of society find fulfillment in their work and daily activities, and be able to have more meaningful, quality time. At the heart of this concept are initiatives from the Digital Transformation & Cyber-Physical Systems Division.

    With digital collection and analysis of data from frontline environments like manufacturing sites, and by providing optimized feedback, we are working to boost operational efficiency and quality and create safer, more secure working environments. We plan to evolve beyond straightforward Kaizen toward Gemba CPS 2.0, a next-generation approach where we reimagine business processes ourselves from the design stage.
    We are also developing systems that provide direct support to keep workers safe and enhance their productivity. One of these is Reliable/Safe Operation Support, which helps users prevent work-related accidents.

    3. Toward a society of co-caring: Caring for self and others

    The third concept is a society where a harmonious state of mind and body encourages co-caring relationships with the people around us. The key to realizing this society is technology that deepens Human Insight.

    Verification test environment for time value enhancement of travel experience

    Human Insight technology

    This uses advanced sensing to collect a wide range, not only of biometric data like heart rate, respiration, and physical movements, but also of behavioral data. It then applies AI to model the individual’s physical and mental condition and characteristics, and even aspects of interactions with others. Then, by stimulating the five senses through environmental parameters including light, sound, scent, and temperature sensations, it aims to guide the individual toward an enhanced state of well-being.

    We are developing technologies that use heart rate to identify different types of stress, score a subject’s degree of meditative depth and provide constructive feedback, apply measured levels of concentration to the improvement of work environments, and other applications. We are also exploring unique research topics. Biophilic Hi-Res Sound enhances relaxation through wide-band audio and can strengthen brainwaves associated with relaxation. Therapeutic Sound promotes mental and physical well-being using sound with inaudible components, and can reduce stress levels during cognitive tasks.
    These technologies are undergoing development and field testing in a range of settings and realistic use cases. The success of this work will enhance physical and mental well-being and help people realize more creative, fulfilling lives.

    Cell therapy solutions

    Regenerative medicine is a key area of focus. Treatments that utilize the patient’s own cells and iPS cells offer great promise. Nevertheless, cell manufacturing remains inefficient, labor-intensive, and costly. We are currently collaborating with partners including the Center for iPS Cell Research and Application (CiRA) at Kyoto University to develop an automated system that reliably produces high-quality therapeutic cells in a cost-effective way by combining Panasonic expertise in biotechnology, precision manufacturing equipment, data analysis, and simulation. We are confident we can help make individually-tailored treatments accessible to more people, and contribute materially to extending healthy life span and improving quality of life.

    Synergy between structural reform and technology development: Focusing on what truly matters

    Panasonic is implementing group-wide management reform, and the impact of these efforts naturally extends to our technology divisions. Budget cuts are part of our efforts to optimize our operations, but I don’t view this as a negative. Instead, I see it as a great opportunity to focus our resources on the initiatives that truly matter as we extend our technological development.
    Most important is to select the themes that are likely to have the greatest impact toward realizing our Future Technology Vision, and apply our limited resources to investments that will generate the greatest return.
    As we do so, open innovation-style collaboration with universities and enterprises will only become more important. To enhance the speed and quality of our development, we will actively incorporate external knowledge and technologies rather than attempt to go it alone.
    What matters most is that we foster a culture of embracing challenges. As our founder Konosuke Matsushita once said, “Don’t fear mistakes. Fear a lack of resolve.” The process of creating new value inevitably includes setbacks. What can we learn from them? How can we apply those lessons? I’m convinced that such experiences strengthen our entire technology organization.

    How will AI illuminate the future?

    AI is a critical enabling technology for current and future innovation. To reinforce our group commitment to AI, we have launched a new initiative called Panasonic Go. Its goal is to expand the share of AI-related businesses to 30% of group sales by FY2035. In my view, this transformation will mark our evolution into a new breed of enterprise, with seamless vertical and horizontal connections across multiple layers of the organization.

    While we are still defining specific business targets for FY2035, our goal is to leverage AI and data to connect value that is now provided through individual products and services. We will not simply embed AI in products, but apply it across R&D workflows to boost efficiency and boldly tackle the challenge of creating new value.
    As AI extends into every corner of society, security technology becomes more and more important. From individual product security to security for whole factories and complete IT systems, we are reinforcing our efforts to deliver safety and peace of mind to customers by combining cutting-edge AI with expertise accumulated over many years. We are already contributing to society in tangible ways, such as shielding manufacturing lines from malware, or structuring security systems for entire office buildings.

    Panasonic means hope to everyone invested in the future

    From my perspective as CTO, I’m continually giving thought to how Panasonic technologies can contribute to future society. I think the answer begins in our founding DNA, which embodies a deep-rooted desire to improve people’s lives through manufacturing.
    To those who will lead tomorrow’s society, especially young people shaping the future, and to our engineers at Panasonic, I would say this: Don’t do only what you can do, but keep asking yourself what you should do. No matter how challenging the circumstances, I hope you’ll never lose your optimism. My own motto is, “Good fortune comes to those who smile.” If you’re always optimistic and willing to tackle challenges, I’m confident that a path forward is certain to open up.
    For more than a century, Panasonic has been a part of people’s lives through technology. The trust and technological achievement we have accumulated throughout our history are precious assets. Nevertheless, we must keep our eyes on the future and continue to challenge ourselves to create new value.
    With the Future Technology Vision to guide us, we will achieve transformation as a united Panasonic Group, and do our utmost to deliver futures filled with promise.

    Related Articles

    MIL OSI Economics –

    July 22, 2025

  • Sensex, Nifty open higher as banking stocks continue to gain

    Source: Government of India

    Source: Government of India (4)

    The Indian stock market opened in the green on Tuesday as heavyweight banking stocks continued to lead amid mixed global cues.

    At 9.23 am, Sensex was up 152 points or 0.19 per cent at 82,359 and Nifty was up 38 points or 0.15 per cent at 25,129.

    Banking stocks were leading the market. Nifty Bank was up 0.30 per cent, higher than the main indices.

    Buying was also seen in the midcap and smallcap stocks. Nifty midcap 100 index was up 45 points or 0.08 per cent at 59,514 and Nifty smallcap 100 index was up 80 points or 0.42 per cent at 19,038.

    Among the sectoral indices, PSU bank, financial services, metal, media, energy and private bank were in the green. Pharma, IT, auto and FMCG were in the red.

    In the Sensex pack, Eternal, Trent, Tata Steel, ICICI Bank, HDFC Bank, TCS, BEL, HCLTech, NTPC and SBI were top gainers. Tata Motors, Bajaj Finserv, Sun Pharma, M&M, Bharti Airtel, Maruti Suzuki, L&T, HUL and Asian Paints were top losers.

    “The Nifty 50, after a strong rebound from its intraday low of 24,900, surged nearly 225 points to close above the 25,000 mark, forming a bullish candlestick pattern. The rebound from the 50-day EMA indicates a potential trend reversal, though confirmation through follow-up buying is awaited,” said Mandar Bhojane of Choice Equity Broking Private Limited.

    On the upside, a sustained move above 25,150 could pave the way toward 25,250. Key support levels remain at 25,000 and 24,900, which may offer favourable risk-reward opportunities for long positions, he added.

    Most Asian markets kept to a tight range. Tokyo and Seoul were in the red while Shanghai, Hong Kong and Jakarta were in the green. US markets closed in the mixed zone. Dow Jones was in the red and Nasdaq was in the green.

    On July 21, foreign institutional investors (FIIs) were net sellers for the third consecutive session, offloading equities worth Rs 1,681 crore. In contrast, domestic institutional investors (DIIs) remained strong buyers for the 11th straight day, purchasing equities worth Rs 3,578 crore.

    (IANS)

    July 22, 2025

  • Amarnath Yatra sees huge rush of pilgrims, 3.21 lakh had ‘darshan’ in 19 days

    Source: Government of India

    Source: Government of India (4)

    The ongoing Amarnath Yatra has witnessed an overwhelming turnout, with more than 3.21 lakh devotees having undertaken the pilgrimage in the last 19 days since it commenced on July 3. On Tuesday, another batch of 3,536 pilgrims departed from Jammu for the holy cave in Kashmir.

    According to officials, “A fresh batch of 3,536 Yatris left the Bhagwati Nagar Yatri Niwas in Jammu today in two escorted convoys headed for the Valley. The first convoy of 48 vehicles, carrying 1,250 pilgrims, departed at 3:33 a.m. for the Baltal base camp, while the second convoy of 84 vehicles, with 2,286 pilgrims, left at 4:06 a.m. for the Pahalgam base camp.”

    “There is a huge rush of Yatris, with thousands arriving daily from across the country at the twin base camps to undertake the Yatra,” added the officials.

    Extensive multi-tier security arrangements have been put in place to ensure the safety of pilgrims. An additional 180 companies of Central Armed Police Forces (CAPFs) have been deployed to strengthen the existing presence of the Army, BSF, CRPF, SSB, and local police. The Army has stationed over 8,000 special commandos along the route to secure the pilgrimage.

    The Amarnath Yatra 2025 will continue for 38 days, concluding on August 9, which coincides with Shravan Purnima and Raksha Bandhan.

    (With inputs from IANS)

    July 22, 2025

  • South Korea finance minister, trade envoy to hold tariff talks with US counterparts

    Source: Government of India

    Source: Government of India (4)

    South Korea’s new finance minister and the country’s top trade envoy will meet in Washington with U.S. counterparts on Friday for talks on U.S. tariffs, Finance Minister Koo Yun-cheol said on Tuesday.

    The country’s foreign and industry ministers will also visit the U.S. for trade discussions as early as this week, Koo told reporters after a meeting of economic ministers.

    Koo took office on Monday.

    The four officials complete a new cabinet team under President Lee Jae Myung who was sworn in on June 4 after winning a snap election called after his predecessor’s ouster for trying to declare martial law.

    The political turmoil that ensued delayed South Korea’s response to U.S. President Donald Trump’s punishing tariff regime imposed on dozens of trade partners, including key industrial powerhouses that are also security allies.

    Koo and Minister for Trade Yeo Han-koo will hold talks with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer on Friday at the request of the U.S. officials, the finance minister said.

    “We’ve had discussions from the perspective of national interest and pragmatism and we’ll do our best to prepare a meticulous strategy until we’re leaving,” Koo said, declining to say whether Seoul was hoping to push back the August 1 deadline before reciprocal tariffs set by Trump are due to come in.

    Yeo said on Tuesday he would seek to base the talks around forming a manufacturing partnership with the United States.

    On Monday, South Korea’s new Industry Minister Kim Jung-kwan said tariff talks were in a critical phase that could result in a range of possible outcomes and pledged an all-out effort to wrap up negotiations by August 1.

    Trump has vowed to slap tariffs on a range of countries including South Korea to reduce what he called unfair trade imbalances.

    On Saturday, Japan’s top tariff negotiator, Ryosei Akazawa, said he planned to visit Washington this week to hold further ministerial-level talks, as Tokyo hopes to clinch a deal by its August 1 deadline.

    (Reuters)

    July 22, 2025

  • MIL-OSI Banking: Money Market Operations as on July 21, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 6,19,575.62 5.51 4.75-6.50
         I. Call Money 18,053.92 5.48 4.75-5.70
         II. Triparty Repo 4,14,235.80 5.51 5.32-5.90
         III. Market Repo 1,84,961.35 5.51 5.00-6.00
         IV. Repo in Corporate Bond 2,324.55 5.65 5.50-6.50
    B. Term Segment      
         I. Notice Money** 338.19 5.36 5.00-5.53
         II. Term Money@@ 409.00 – 5.50-5.75
         III. Triparty Repo 1,299.40 5.71 5.40-6.47
         IV. Market Repo 1,492.83 5.57 5.44-5.64
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Mon, 21/07/2025 1 Tue, 22/07/2025 10,750.00 5.75
    4. SDFΔ# Mon, 21/07/2025 1 Tue, 22/07/2025 56,852.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -46,102.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Fri, 18/07/2025 7 Fri, 25/07/2025 2,00,027.00 5.49
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       6,511.19  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -1,93,515.81  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -2,39,617.81  
    G. Cash Reserves Position of Scheduled Commercial Banks          
         (i) Cash balances with RBI as on July 21, 2025 9,37,144.49  
         (ii) Average daily cash reserve requirement for the fortnight ending July 25, 2025 9,63,288.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ July 21, 2025 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on June 27, 2025 5,79,904.00  

    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).

    – Not Applicable / No Transaction.

    ** Relates to uncollateralized transactions of 2 to 14 days tenor.

    @@ Relates to uncollateralized transactions of 15 days to one year tenor.

    $ Includes refinance facilities extended by RBI.

    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/758

    MIL OSI Global Banks –

    July 22, 2025

  • MIL-OSI USA: DOD Raises Ceiling of Contract with General Dynamics for Vital Work in Grand Forks

    US Senate News:

    Source: United States Senator Kevin Cramer (R-ND)

    WASHINGTON, D.C. – The U.S. Department of Defense (DOD) announced it has increased the size of its contract with General Dynamics, a global aerospace and defense company, by $34,273,921 to reflect growing numbers of test activities and missile track fusion work performed at Grand Forks and other sites for the Space Development Agency (SDA). This announcement brings the total cumulative value of the contract, which is expected to be completed by Sep. 30, 2029, to $1,106,722,296.

    As chair of the Senate Armed Services (SASC) Airland Subcommittee, U.S. Senator Kevin Cramer (R-ND) leads the effort to advance space-based capabilities and missions, both in North Dakota and across the nation.

    “With the 319th Reconnaissance Wing flying RQ-4 Global Hawks and providing vital warfighting and ground-based capabilities, the innovative defense ecosystem at Grand Forks Air Force Base is unmatched,” said Cramer. “Raising the contract ceiling will allow General Dynamics to better support our Proliferated Warfighter Space Architecture ground management, integration, operation, and sustainment efforts. This crucial investment is proof of the global expertise that resides right here in Grand Forks.”

    In April, General Michael Guetlein, the DOD’s Golden Dome leader, joined Cramer and SDA Director Derek Tournear in touring North Dakota’s defense capabilities. The group saw recent updates at SDA Operations Center North and visited Cavalier Space Force Station. During the visit, the group viewed on-going U.S. Space Force activities throughout the state.

    Last year, Cramer flipped the switch to bring the SDA Operations Center North online at Grand Forks Air Force Base (GFAFB), participated in a Grand Forks Base Retention Committee meeting, toured the University of North Dakota (UND) National Security Corridor, and announced new Navy personnel at GFAFB. Cramer also joined E-Space CEO Greg Wyler in meeting with UND faculty and SDA staff to discuss workforce development and initiatives, and announced educational initiatives between SDA and UND.

    MIL OSI USA News –

    July 22, 2025

  • MIL-OSI Economics: Business Leaders Urge Recommitment to Open, Rules-based and Predictable Trade, Call for Bold Action to Secure Future Growth Hai Phong, Viet Nam | 22 July 2025 APEC Business Advisory Council

    Source: APEC – Asia Pacific Economic Cooperation

    aRepresentatives of the APEC Business Advisory Council (ABAC) met in Hai Phong, Viet Nam to finalize their recommendations to APEC Leaders and seven Sectoral Ministerial Meetings to be held in Korea later this year. During the meeting, ABAC members reiterated an urgent call to APEC Leaders to reaffirm their commitment to open, rules-based, non-discriminatory, predictable and competitive markets in the face of mounting trade tensions, policy volatility and global uncertainty.

    APEC’s prosperity has long rested on reducing distortions and opening markets, anchored by transparent, rules-based trade but today, that foundation is under threat.

    Escalating trade frictions and uncertainty are disrupting supply chains, inflating costs, shaking business confidence and threatening jobs and living standards. This is throttling growth and distracting from the critical work of revitalizing businesses and our economies. In a ‘Statement on Open Markets’, ABAC underscored that the business community needs a return to the stable trade and economic environment that has underpinned decades of prosperity for every APEC economy.

    As leaders of the Asia-Pacific business community, ABAC recognizes that artificial intelligence (AI) is reshaping our economies, societies and daily lives. Yet the full benefits of AI cannot be realized without robust, efficient and sustainable infrastructure to support its development and deployment. In its Declaration on Sustainable AI Infrastructure and Investment, ABAC reaffirmed its commitment to shaping an AI-powered future that is not only innovative and inclusive, but also environmentally responsible.

    Priorities for Inclusive and Sustainable Growth

    In the 2025 Report to APEC Leaders, ABAC finalized the recommendations it will present later this year to drive sustainable and inclusive growth in the region including the following:

    • Accelerating the realization of the Free Trade Area of the Asia-Pacific (FTAAP), with early deliverables like the APEC Centre of Excellence on Paperless Trade, a new equal pay framework and a Greener Trade Framework.
    • Reforming and modernizing the WTO including making permanent the E-Commerce Moratorium for digital products.
    • Mobilizing investment to fund energy transitions, digital infrastructure, and disaster response.
    • Leading in Digital Transformation by ensuring equitable access to secure, sustainable digital infrastructure, shaping responsible AI deployment and governance and developing interoperable digital trade rules.
    • Strengthening healthcare supply chains and market access for innovations like genomics and AI.
    • Tackling demographic shifts by promoting workforce participation, labor mobility, skills recognition, pensions reform and leveraging emerging technologies.

    ABAC’s work and recommendations are guided by the theme this year—“Bridge. Business. Beyond.” This reflects what is needed to deliver ABAC’s vision: bridge divides, empower businesses to drive growth and look beyond short-term challenges to long-term prosperity. 

    ABAC stands ready to work with APEC Leaders to shape a future of inclusive, sustainable growth for all.

    ABAC 2025 Chairman H.S. Cho thanked His Excellency Luong Cuong, President of Viet Nam, who opened the ABAC meeting.

    ABAC expressed its appreciation to ABAC Viet Nam for the excellent arrangements and the leaders of Hai Phong City for supporting the meeting. Prior to the start of the ABAC meeting, members joined participants to the Hai Phong Investment Promotion Conference held prior to their Meeting where they engaged with H.E. President of Viet Nam, Hai Phong City Leaders and local business owners.  

    For further information, please contact:

    Hyungkon Park (Mr), ABAC Executive Director 2025  at +82 2 6050 3686 and [email protected]
    Antonio Basilio (Mr), Director of the ABAC Secretariat at +63 917 849 3351 and [email protected]

    MIL OSI Economics –

    July 22, 2025

  • MIL-OSI USA: Cornyn Throws Down the Gauntlet on Outbound Investment to Counter China

    US Senate News:

    Source: United States Senator for Texas John Cornyn

    WASHINGTON – Today on the floor, U.S. Senator John Cornyn (R-TX) highlighted his priorities for the National Defense Authorization Act (NDAA), including his Foreign Investment Guardrails to Help Thwart (FIGHT) China Act, which would safeguard the United States against the growing threat posed by the People’s Republic of China (PRC) by prohibiting and requiring notification of U.S. investment in certain technologies in China. Excerpts of Sen. Cornyn’s remarks are below, and video can be found here.

    “One of the things that I’m going to be focusing on as part of the defense authorization bill is to finally address outbound investment in China.”

    “As we speak, U.S. companies are spending billions of dollars in China, investing in Chinese companies, particularly those involved in critical technologies like quantum computing and Artificial Intelligence.”

    “I’ve been raising alarm bells for a number of years now and working toward a solution to this critical, strategic concern for a long time.”

    “I have something to announce to my colleagues here: I’m not going to give up.”

    “I’m not willing to take no for an answer on something that is so critical to our national security.”

    “What good does it do to continue to increase our defense spending if American investors are simultaneously making investments in China in what amounts to the arsenal of our number-one strategic adversary?”

    “Earlier this year, I introduced the Foreign Investment Guardrails to Help Thwart China Act, or the FIGHT China Act.”

    “Secretary Bessent and his colleagues at the Treasury Department have been great allies and great partners in providing us with technical assistance on this legislation.”

    “I would urge both our House and Senate colleagues to ensure that this year’s National Defense Authorization Bill addresses this critical issue.”

    “It’s time for Americans to stop investing in China’s military.”

    MIL OSI USA News –

    July 22, 2025

  • MIL-OSI China: Rational competition urged for platform economy

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

    A food delivery man rides after snow in Xining, capital of northwest China’s Qinghai Province, Nov. 4, 2018. [Photo/Xinhua]

    China’s latest efforts to regulate the promotional activities of major food delivery platforms and urge rational competition will help maintain market order and promote the healthy and orderly development of the platform economy, experts said.

    These platforms should ramp up technological innovation, optimize delivery networks and adopt differentiated strategies to further improve user experience and prevent cutthroat competition, they added.

    Their comments came after the State Administration for Market Regulation on Friday summoned three food delivery platforms — Ele.me, Meituan and JD — calling on them to strictly adhere to e-commerce, fair competition and food safety laws, and assume more professional responsibility.

    The regulator urged the three platform companies to further regulate promotional activities, participate in competition rationally, and foster a healthy ecosystem that benefits consumers, merchants, delivery riders and platform operators so as to promote the regulated, healthy and sustainable development of the catering services sector.

    The authority’s meeting with major food delivery platforms followed the recent fierce competition in the country’s instant retail sector — with players offering huge discounts and subsidies to grab a bigger slice of the pie — which triggered a relentless price war.

    “The latest move has demonstrated the government’s firm determination to maintain fair market order, signaling its ‘zero-tolerance’ attitude toward disorderly subsidies and vicious competition,” said Jiang Han, a senior analyst at market consultancy Pangoal, adding that the regulated and healthy development of the food delivery sector is directly related to consumers’ rights and interests.

    It is of great significance to safeguard a fair and orderly market environment and avoid the “involution-style” competition in the food delivery sector, which is experiencing a price war, as major platforms have continuously stepped up subsidies to compete for market share, leading to the compression of merchants’ profits and the decline in consumer experience, Jiang said.

    He said platform enterprises should provide differentiated innovative services, such as optimizing delivery efficiency, enhancing food safety standards and improving after-sales services, thereby creating a healthy competition environment, and promoting the high-quality and sustained development of the food delivery sector.

    In May, the SAMR and four other government departments summoned major food delivery platforms to address prominent issues related to competition in the food delivery sector and to rectify unfair market practices.

    The regulator called on the platforms to comply with laws and regulations, fulfill social responsibilities, strengthen internal management, engage in fair and orderly competition, and better safeguard the rights and interests of consumers, merchants and delivery staff.

    Cao Lei, director of the Internet Economy Institute, a domestic consultancy, said the continuous steep discounts will pose challenges to platform companies’ profitability, intensify competition and further squeeze the survival space of small and medium-sized merchants.

    Cao said the platforms should increase investments in technologies such as artificial intelligence-powered algorithms and intelligent scheduling to enhance fulfillment efficiency, while optimizing supply chain management, safeguarding the legitimate rights and interests of consumers, and improving the welfare of delivery staff.

    Zhu Keli, founding director of the China Institute of New Economy, said it is important that platform enterprises pool more resources into technologies and optimize cost structure through highly efficient inventory management and intelligent warehousing systems.

    MIL OSI China News –

    July 22, 2025

  • MIL-OSI China: Huawei beats rivals in Q2 shipments

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

    People buy smartphones at a flagship store of Huawei in Shenzhen, south China’s Guangdong Province, Sept. 11, 2023. [Photo/Xinhua]

    Huawei Technologies Co has staged a remarkable comeback, reclaiming its leading position in terms of shipments in China’s smartphone market in the second quarter, according to a latest report from market research company International Data Corp.

    This achievement marks Huawei’s return to the summit after a challenging six-year period, with shipments reaching 12.5 million units, capturing an 18.1 percent market share in the country, from April to June this year, IDC said.

    This resurgence not only disrupts the recent dominance of rival brands, but also signifies a pivotal turnaround for Huawei, demonstrating its ability to overcome significant technology restrictions and supply chain hurdles, experts said.

    Will Wong, a senior research manager with IDC’s Asia/Pacific Client Devices Group, said Huawei’s recovery can be attributed to its strong brand appeal and efficient shipment management.

    The company’s recovery is underpinned by explosive growth in specific segments. Foldable smartphone shipments surged by an impressive 240 percent year-on-year in the second quarter, while its flagship Mate series contributed over 45 percent of total shipments, highlighting a robust recovery in the premium handset market.

    Furthermore, the strength of Huawei’s ecosystem is evident as more than 900 million devices in China, including its own-branded products as well as devices from third-party companies, now run on its self-developed operating system HarmonyOS.

    The numbers validate the success of its integrated “hardware plus software plus services” strategy, said Xiang Ligang, director-general of the Zhongguancun Modern Information Consumer Application Industry Technology Alliance, a telecom industry association.

    Huawei’s return is particularly notable given the broader market context. The overall Chinese smartphone market contracted by 4 percent year-on-year in the second quarter, with total shipments reaching about 69 million units, IDC said. This decline was driven primarily by weakening consumer demand and a slowdown in growth previously fueled by government subsidies.

    However, Huawei managed to defy the downward trend despite the challenging environment, Xiang said, adding that the company’s return to the top represents a significant reversal.

    Key factors driving Huawei’s resurgence include product innovation, exemplified by the successful launch of the Mate 70 series. Featuring advanced in-house chipsets, superior imaging capabilities and HarmonyOS, the Mate 70 series attracted strong consumer demand, including loyal Huawei users upgrading and even some former Apple customers, Xiang added.

    The company once dominated the Chinese market with a share exceeding 40 percent, but faced severe setbacks following US sanctions, leading to significant market share losses, he said.

    Huawei’s relentless innovation is underpinned by its extraordinary commitment to research and development. Over the past decade, the company has invested a staggering 1.24 trillion yuan ($172.8 billion) in R&D. In 2024 alone, its R&D expenditure reached 179.7 billion yuan, representing 20.8 percent of its annual revenue. Huawei boasts a global portfolio of over 150,000 valid authorized patents, the company said.

    Looking ahead, despite this significant milestone, Huawei faces an intensely competitive landscape where rivals like Apple, Xiaomi, Vivo and Oppo continue to innovate aggressively. Maintaining its technological edge and product excellence will be critical for Huawei to retain its leadership, experts said.

    MIL OSI China News –

    July 22, 2025

  • MIL-OSI China: Unitree begins preparation for mainland float

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

    Humanoid robots from Chinese company Unitree Robotics are seen at the backstage of China Central Television (CCTV) Spring Festival Gala in Beijing, capital of China, Jan. 28, 2025. [Photo/Xinhua]

    Unitree Robotics, a Chinese manufacturer of humanoid robots, has begun preparations for an initial public offering, joining a wave of domestic embodied AI companies in tapping the capital market as they race to become globally leading robotics firms.

    While Unitree has yet to disclose its intended market for a flotation, several sources told China Daily that China’s STAR Market on the Shanghai Stock Exchange is the likeliest destination.

    According to a filing posted on the website of the China Securities Regulatory Commission, the company is under the listing guidance of CITIC Securities. The company could file its IPO as early as October.

    Founded by Wang Xingxing, Unitree focuses on the high-performance humanoid and quadruped robots. Wang controls roughly 34.8 percent of the firm through direct and indirect holdings.

    The Hangzhou, Zhejiang province-based startup’s G1 humanoid robot surprised viewers in January when 16 such robots performed a dance routine on China’s Spring Festival Gala, which was viewed 16.8 billion times.

    Wang has said previously that the company’s annual revenue has surpassed 1 billion yuan ($137 million) and that it has been making a profit since 2020, which industry experts said is a rare feat in the capital-intensive robotics field.

    Compared with counterparts in the United States, Chinese robotics makers are mass-producing humanoid robots for consumers at cheaper prices.

    Unitree’s G1 is priced at 99,000 yuan ($13,600). After the company became widely known, the humanoid robot has been frequently spotted at meetings, in restaurants, and in various galas as well as activities.

    In addition to the humanoid robots, Unitree also offers the Go2 robotic dog, starting at 9,997 yuan, along with various accessories. The Go2 series has been well-received for its versatility and affordability, making it a popular choice among tech enthusiasts.

    Unitree’s IPO push comes amid a red-hot summer of fundraising across China’s embodied AI sector, a field combining robotics and artificial intelligence to enable machines with physical agency in the real world.

    Earlier this month, humanoid robot startup AgiBot made headlines with a bold move to gain control of a material company via equity transfer and tender offer, which was seen by many industry insiders as a back-door listing play aimed at fast-tracking onto the STAR Market.

    Meanwhile, early-stage fundraising has surged.

    In July alone, several players in the embodied AI sector disclosed fresh financing rounds, drawing heavyweight backers including Tencent Holdings, Alibaba Group, and Geely.

    According to data from tech-focused ITjuzi.com, China’s embodied AI industry saw 133 investment events totaling over 18 billion yuan as of last week, already surpassing the full-year 2023 figures by both volume as well as value.

    Rick Xiong, general manager of the Beijing Embodied Artificial Intelligence Robotics Innovation Center, said: “These combined efforts will shape the future in our favor. Chinese robot companies have the right timing, the right place and the right people to accelerate the humanoid robot push.”

    Xiong said that leading Western countries have witnessed deep-pocketed industry giants dominating the robot landscape, whereas China has been characterized by a proliferation of small to medium-sized enterprises striving to navigate the competitive terrain of humanoid robots.

    He also said that the rise of artificial intelligence large language models, exemplified by technologies like ChatGPT, has been a game-changer in the robotics industry.

    While investor enthusiasm remains high, industry insiders said the real challenge lies in large-scale commercialization. Analysts see a growing divide between players chasing hype and those delivering viable applications.

    Wang from Unitree recently predicted that humanoid robots would be widely used in industries and services within three to five years, with early adoption in hazardous or repetitive environments.

    Wang Feili, a machinery analyst at UBS Securities, echoed that view, saying humanoid robots will likely first land in factories and service settings before entering households. “Industrial scenarios are less complex and more tolerant of cost, whereas consumers expect versatile capabilities — the bar is much higher at home,” she said.

    MIL OSI China News –

    July 22, 2025

  • MIL-OSI: Bitget Expands Starlink-Powered PayFi Islands Initiative to Negros Oriental

    Source: GlobeNewswire (MIL-OSI)

    DUMAGUETE, Philippines, July 22, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, is deepening its commitment to digital inclusion in the Philippines by expanding its PayFi Islands initiative to Negros Oriental. This next phase will bring Starlink-powered high-speed internet to Apo Elementary School and the Arts and Design Collective Dumaguete (ADCD), tackling long-standing connectivity challenges in education and the creative sector.

    In many parts of Negros Oriental, including remote islands like Apo and urban centers such as Dumaguete, reliable internet access remains elusive. Outdated infrastructure, like microwave radio links, continues to limit bandwidth and reliability, cutting communities off from modern tools and opportunities. This digital divide has sent a ripple effect through key sectors, such as education and creative industries, hindering access to information, digital tools, and, in turn, economic opportunities.

    Bitget Starlink being presented to Apo Elementary School

    Bitget’s latest deployment brings high-speed Starlink internet to two key communities in Negros Oriental, each facing distinct yet equally urgent digital challenges. After years of limited resources and unreliable internet, Apo Elementary School, the only public school on Apo Island, will finally be connected through Starlink. This new access will unlock digital learning tools, teacher development programs, and broader educational networks, creating new opportunities for academic growth and long-term empowerment in a community that has long relied on fishing.

    Bitget Starlink being presented to Arts and Design Collective Dumaguete (ADCD)

    Meanwhile, in Dumaguete, Bitget partnered with the Arts and Design Collective Dumaguete (ADCD), a vibrant creative hub preparing to launch a maker’s space for local artists and entrepreneurs. Previously held back by poor internet access, this space will now offer digital tools, fabrication technologies, and pathways to global collaboration, enabling the city’s creative sector to thrive in the digital economy.

    “Access to the internet is access to opportunities,” said Vugar Usi Zade, COO of Bitget. “With PayFi Islands, we’re connecting people to education, to the digital economy, to more opportunities. These communities deserve to be part of the future, and we’re here to help make that happen.”

    Scheduled for full deployment in July 2025, the project includes hardware installation, subscription support, and community training. The expansion in Negros Oriental is part of Bitget’s second phase in bridging the digital divide in Philippine Island communities. In May 2025, Bitget’s Starlink Program first introduced reliable connectivity to Siargao’s Espoir School of Life and Barangay Pitogo. As Bitget continues its rollout, these initiatives lay the foundation for Bitget’s broader educational and empowerment programs, Blockchain4Youth and Blockchain4Her. These programs will introduce blockchain literacy, financial education, and decentralized technology training to students and women-led cooperatives in the region, ensuring that the new digital infrastructure becomes a platform for sustainable development.

    The Blockchain4Youth initiative highlights a powerful message that true crypto adoption begins with access. From the classrooms of Apo Island to the creative studios of Dumaguete, this expansion reflects Bitget’s long-term commitment to inclusion, empowerment, and building a future where no one is left offline.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform.

    Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP™, one of the world’s most thrilling championships.

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

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

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/59156b0d-6ba9-44e2-8a4f-a34c8ebe0ab7

    https://www.globenewswire.com/NewsRoom/AttachmentNg/0c0f85a9-5867-43ca-a385-465bf8a1964d

    https://www.globenewswire.com/NewsRoom/AttachmentNg/c48f6760-bbc1-4649-817e-4bb050335e08

    The MIL Network –

    July 22, 2025

  • MIL-OSI Economics: Secretary-General of ASEAN to pay a visit to the People’s Republic of China and to attend 2025 World AI Conference

    Source: ASEAN

    At the invitation of the Government of the People’s Republic of China, Secretary-General of ASEAN, Dr. Kao Kim Hourn, will undertake a visit to the People’s Republic of China and take part in the 2025 World AI Conference, from 23 to 26 July 2025.
     
    During his stay in Beijing and Shanghai, SG Dr. Kao will have several key engagements, including a bilateral meeting with H.E. Wang Yi, Minister of Foreign Affairs of the People’s Republic of China, as well as meeting with other senior government officials and private sectors such as Asian Infrastructure Investment Bank (AIIB) and Shanghai Cooperation Organisation (SCO), among others.
     
    SG Dr. Kao will also take the opportunity to meet with the ASEAN Committee in Beijing (ACB) and to speak at the Opening Ceremony of the 2025 World Artificial Intelligence Conference as well as at the High-Level Meeting on Global AI Governance. His participation reflects ASEAN’s continued commitment to advancing the ASEAN-China Comprehensive Strategic Partnership and to delivering this year’s priorities, particularly in deepening digital collaboration in the fields of artificial intelligence and emerging technologies.
    The post Secretary-General of ASEAN to pay a visit to the People’s Republic of China and to attend 2025 World AI Conference appeared first on ASEAN Main Portal.

    MIL OSI Economics –

    July 22, 2025

  • MIL-OSI Economics: Secretary-General of ASEAN to pay a visit to the People’s Republic of China and to attend 2025 World AI Conference

    Source: ASEAN

    At the invitation of the Government of the People’s Republic of China, Secretary-General of ASEAN, Dr. Kao Kim Hourn, will undertake a visit to the People’s Republic of China and take part in the 2025 World AI Conference, from 23 to 26 July 2025.
     
    During his stay in Beijing and Shanghai, SG Dr. Kao will have several key engagements, including a bilateral meeting with H.E. Wang Yi, Minister of Foreign Affairs of the People’s Republic of China, as well as meeting with other senior government officials and private sectors such as Asian Infrastructure Investment Bank (AIIB) and Shanghai Cooperation Organisation (SCO), among others.
     
    SG Dr. Kao will also take the opportunity to meet with the ASEAN Committee in Beijing (ACB) and to speak at the Opening Ceremony of the 2025 World Artificial Intelligence Conference as well as at the High-Level Meeting on Global AI Governance. His participation reflects ASEAN’s continued commitment to advancing the ASEAN-China Comprehensive Strategic Partnership and to delivering this year’s priorities, particularly in deepening digital collaboration in the fields of artificial intelligence and emerging technologies.
    The post Secretary-General of ASEAN to pay a visit to the People’s Republic of China and to attend 2025 World AI Conference appeared first on ASEAN Main Portal.

    MIL OSI Economics –

    July 22, 2025

  • MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for July 22, 2025

    ER Report: Here is a summary of significant articles published on EveningReport.nz on July 22, 2025.

    New study finds the gender earnings gap could be halved if we reined in the long hours often worked by men
    Source: The Conversation (Au and NZ) – By Lyndall Strazdins, Professor, Australian National University asylun/Shutterstock There are lots of reasons why people work extra hours. In some jobs, it’s the only way to cover the workload. In others, the pay is poor, so people need to work extra time. And in others still, working back

    New study finds the gender earnings gap could be halved if we reined in the long hours often worked by men
    Source: The Conversation (Au and NZ) – By Lyndall Strazdins, Professor, Australian National University asylun/Shutterstock There are lots of reasons why people work extra hours. In some jobs, it’s the only way to cover the workload. In others, the pay is poor, so people need to work extra time. And in others still, working back

    Sky TV to buy channel Three owner Discovery NZ for $1
    By Anan Zaki, RNZ News business reporter Sky TV has agreed to fully acquire TV3 owner Discovery New Zealand for $1. Discovery NZ is a part of US media giant Warner Bros Discovery, and operates channel Three and online streaming platform ThreeNow. NZX-listed Sky said the deal would be completed on a cash-free, debt-free basis,

    Suffering in Gaza reaches ‘new depths’ – Australia condemns ‘inhumane killing’ of Palestinians
    Source: The Conversation (Au and NZ) – By Amra Lee, PhD candidate in Protection of Civilians, Australian National University Australia has joined 28 international partners in calling for an immediate end to the war in Gaza and a lifting of all restrictions on food and medical supplies. Foreign Minister Penny Wong, along with counterparts from

    As female independent MPs descend on parliament, they’re fulfilling the dreams of women across history
    Source: The Conversation (Au and NZ) – By Elizabeth Chappell, Post Doctoral Research, University of New England Australia’s 48th parliament has a record 112 women members. Ten of those women are independents. As they take their seats in the chamber, they’ll be realising the aspirations of some of Australia’s first suffragists who, more than a

    Are screenwriters paid for a product or a service? The definition matters for their workplace rights
    Source: The Conversation (Au and NZ) – By Kim Goodwin, Lecturer in Arts Management and Human Resources, The University of Melbourne Vitaly Gariev/Unsplash The film and television sector in Australia employs over 26,000 workers and generated more than A$4.5 billion in income in 2021–22. TV dramas generate a large part of this revenue. Australian screen

    NZ and allies condemn ‘inhumane’, ‘horrifying’ killings in Gaza and ‘drip feeding’ of aid
    RNZ News New Zealand has joined 24 other countries in calling for an end to the war in Gaza, and criticising what they call the inhumane killing of Palestinians. The countries — including Britain, France, Canada and Australia plus the European Union — also condemed the Israeli government’s aid delivery model in Gaza as “dangerous”.

    Everyone’s talking about the Perseid meteor shower – but don’t bother trying to see it in Australia or NZ
    Source: The Conversation (Au and NZ) – By Jonti Horner, Professor (Astrophysics), University of Southern Queensland View of the 2023 Perseid meteor shower from the southernmost part of Sequoia National Forest, US. NASA/Preston Dyches In recent days, you may have seen articles claiming the “best meteor shower of the year” is about to start. Unfortunately,

    Pumped up with poison: new research shows many anabolic steroids contain toxic metals
    Source: The Conversation (Au and NZ) – By Timothy Piatkowski, Lecturer in Psychology, Griffith University MilosStankovic/Getty Images Eighteen-year-old Mark scrolls Instagram late at night, watching videos of fitness influencers showing off muscle gains and lifting the equivalent of a baby elephant off the gym floor. Spurred on by hashtags and usernames indicating these feats involve

    How EVs and electric water heaters are turning cities into giant batteries
    Source: The Conversation (Au and NZ) – By Bin Lu, Senior Research Fellow in Renewable Energy, Australian National University Leonid Andronov/Shutterstock As the electrification of transport and heating accelerates, many worry the increased demand could overload national power grids. In Australia, electricity consumption is expected to double by 2050. If everyone charges their car and

    The end of open-plan classrooms: how school design reflects changing ideas in education
    Source: The Conversation (Au and NZ) – By Leon Benade, Professor in the School of Education of Edith Cowan University (ECU), Perth, WA, Edith Cowan University skynesher/Getty Imaged The end of open-plan classrooms in New Zealand, recently announced by Education Minister Erica Stanford, marks yet another swing of the pendulum in school design. Depending on

    Could Rupert Murdoch bring down Donald Trump? A court case threatens more than just their relationship
    Source: The Conversation (Au and NZ) – By Andrew Dodd, Professor of Journalism, Director of the Centre for Advancing Journalism, The University of Melbourne If Rupert Murdoch becomes a white knight standing up to a rampantly bullying US president, the world has moved into the upside-down. This is, after all, the media mogul whose US

    PBS and NPR are generally unbiased, independent of government propaganda and provide key benefits to US democracy
    Source: The Conversation (Au and NZ) – By Stephanie A. (Sam) Martin, Frank and Bethine Church Endowed Chair of Public Affairs, Boise State University Congress’ cuts to public broadcasting will diminish the range and volume of the free press and the independent reporting it provides. MicroStockHub-iStock/Getty Images Plus Champions of the almost entirely party-line vote

    Africa’s minerals are being bartered for security: why it’s a bad idea
    Source: The Conversation (Au and NZ) – By Hanri Mostert, SARChI Chair for Mineral Law in Africa, University of Cape Town A US-brokered peace deal between the Democratic Republic of Congo (DRC) and Rwanda binds the two African nations to a worrying arrangement: one where a country signs away its mineral resources to a superpower

    A popular sweetener could be damaging your brain’s defences, says recent study
    Source: The Conversation (Au and NZ) – By Havovi Chichger, Professor, Biomedical Science, Anglia Ruskin University Found in everything from protein bars to energy drinks, erythritol has long been considered a safe alternative to sugar. But new research suggests this widely used sweetener may be quietly undermining one of the body’s most crucial protective barriers

    Why has a bill to relax NZ foreign investment rules had so little scrutiny?
    ANALYSIS: By Jane Kelsey, University of Auckland, Waipapa Taumata Rau While public attention has been focused on the domestic fast-track consenting process for infrastructure and mining, Associate Minister of Finance David Seymour has been pushing through another fast-track process — this time for foreign investment in New Zealand. But it has had almost no public

    PSNA calls on NZ to urgently condemn Israeli weaponisation of starvation
    Asia Pacific Report The Palestine Solidarity Network Aotearoa has called on the New Zealand government to immediately condemn Israel’s weaponisation of starvation and demand an end to the siege of Gaza. It has also called for a permanent ceasefire and unrestricted humanitarian access to the besieged enclave. “All political parties and elected officials must break

    Labor to put disclaimer under Mark Latham’s caucus room picture
    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra The picture of Mark Latham on the caucus room gallery of Labor leaders will have an annotation under it saying he was expelled for life and his actions do not accord with Labor values. The first meeting of the new

    Pacific leaders demand respectful involvement in memorial for unmarked graves
    By Mary Afemata, of PMN News and RNZ Pacific Porirua City Council is set to create a memorial for more than 1800 former patients of the local hospital buried in unmarked graves. But Pacific leaders are asking to be “meaningfully involved” in the process, including incorporating prayer, language, and ceremonial practices. More than 50 people

    Newspoll and Resolve give Labor big leads as parliament resumes after the election
    Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne With federal parliament to sit for the first time since the election on Tuesday, Newspoll gives Labor a 57–43 lead and Resolve a 56–44 lead. In Tasmania,

    MIL OSI Analysis – EveningReport.nz –

    July 22, 2025

  • MIL-OSI United Nations: Deadly floods show need for faster, wider warnings, UN agency says

    Source: United Nations 2

    The UN World Meteorological Organization (WMO) said on Monday that more intense downpours and glacier outburst floods are becoming increasingly frequent, with deadly consequences for communities caught off guard.

    “Flash floods are not new, but their frequency and intensity are increasing in many regions due to rapid urbanization, land-use change and a changing climate,” said Stefan Uhlenbrook, WMO Director of Hydrology, Water and Cryosphere.

    Each additional degree Celsius of warming enables the air to hold about 7 per cent more water vapour.

    “This is increasing the risk of more extreme rainfall events. At the same time, glacier-related flood hazards are increasing due to enhanced ice melting in a warmer climate,” he added.

    Thousands of lives lost every year

    Floods and flash floods claim thousands of lives each year and cause billions of dollars in damage. In 2020, severe flooding across South Asia killed more than 6,500 people and caused $105 billion in economic losses.

    Two years later, catastrophic floods in Pakistan left over 1,700 people dead, 33 million affected and losses exceeding $40 billion, reversing years of development gains.

    This year, the onslaught has continued. In July alone, South Asia, East Asia and the United States have seen a string of deadly events, from monsoon rains to glacial lake bursts and sudden flash floods.

    © WMO/Arya Manggala

    Each year, extreme weather and climate events take a massive toll on lives and economies worldwide.

    Asia reels from monsoon onslaught

    In India and Pakistan, heavy monsoon rains have severed transport links, washed away homes and triggered landslides. Pakistan declared a state of emergency in its worst-hit areas, deploying military helicopters for rescue missions after forecasters warned of exceptional flood risk along the upper Jhelum River.

    The Republic of Korea suffered record-breaking downpours between 16-20 July, with rainfall exceeding 115 mm per hour in some locations. At least 18 people were killed and more than 13,000 were evacuated.

    In southern China, authorities issued flash flood and landslide alerts on 21 July, just a day after Typhoon Wipha battered Hong Kong, underscoring the compound risks of sequential storms.

    Texas flash flood strikes overnight

    Overnight 3 into 4 July, a sudden deluge turned Texas Hill Country into a disaster zone, killing more than 100 people and leaving dozens missing. In a few hours, 10-18 inches (25–46 cm) of rain swamped the Guadalupe River basin, sending the river surging 26 feet (8 metres) in just 45 minutes.

    1-day precipitation totals from NASA’s IMERG multi-satellite precipitation product show heavy rainfall over central Texas on July 4, 2025.

    Many of the victims were young girls at a summer camp, caught unaware as floodwaters tore through sleeping quarters around 4 AM. Although the US National Weather Service issued warnings ahead of time, local sirens were lacking and the final alerts came when most were asleep.

    Glacier outburst floods surge

    Not all floods this month were caused by rain.

    In Nepal’s Rasuwa district, a sudden outburst from a supraglacial lake – formed on a glacier’s surface – swept away hydropower plants, a major bridge and trade routes on 7 July. At least 11 people were killed and more than a dozen are reported missing.

    Scientists at the International Centre for Integrated Mountain Development (ICIMOD), a WMO partner, say glacial-origin floods in the Hindu Kush-Himalaya region are occurring far more often than two decades ago, when one might strike every five to 10 years.

    In May and June 2025 alone, three glacial outburst floods hit Nepal, Afghanistan and Pakistan, with two more in Nepal on 7 July. If warming continues, the risk of such floods could triple by the century’s end.

    Aftermath of a flood that swept through a high-altitude village in Nepal.

    Closing the warning gap

    The WMO is stepping up efforts to improve flood forecasting through its global initiative and real-time guidance platform, now used in over 70 countries.

    The system integrates satellite data, radar and high-resolution weather models to flag threats hours in advance and is being expanded into a country-led, globally interoperable framework.

    A 2022 World Bank study estimated that 1.81 billion people – nearly a quarter of the world’s population – are directly exposed to 1-in-100-year flood events, with 89 per cent living in low- and middle-income countries.

    The UN’s Early Warnings for All initiative aims to ensure that everyone, everywhere, is protected by early warning systems by 2027.

    MIL OSI United Nations News –

    July 22, 2025

  • MIL-Evening Report: Sky TV to buy channel Three owner Discovery NZ for $1

    By Anan Zaki, RNZ News business reporter

    Sky TV has agreed to fully acquire TV3 owner Discovery New Zealand for $1.

    Discovery NZ is a part of US media giant Warner Bros Discovery, and operates channel Three and online streaming platform ThreeNow.

    NZX-listed Sky said the deal would be completed on a cash-free, debt-free basis, with completion expected on August 1.

    Sky expected the deal to deliver revenue diversification and uplift of around $95 million a year.

    Sky expected Discovery NZ’s operations to deliver sustainable underlying earnings growth of at least $10 million from the 2028 financial year.

    Sky chief executive Sophie Moloney said it was a compelling opportunity for the company, with net integration costs of about $6.5 million.

    “This is a compelling opportunity for Sky that directly supports our ambition to be Aotearoa New Zealand’s most engaging and essential media company,” she said.

    Confidential advance notice
    Sky said it gave the Commerce Commission confidential advance notice of the transaction, and the commission did not intend to consider the acquisition further.

    Warner Bros Discovery Australia and NZ managing director Michael Brooks said it was a “fantastic outcome” for both companies.

    “The continued challenges faced by the New Zealand media industry are well documented, and over the past 12 months, the Discovery NZ team has worked to deliver a new, more sustainable business model following a significant restructure in 2024,” Brooks said.

    “While this business is not commercially viable as a standalone asset in WBD’s New Zealand portfolio, we see the value Three and ThreeNow can bring to Sky’s existing offering of complementary assets.”

    Sky said on completion, Discovery NZ’s balance sheet would be clear of some long-term obligations, including property leases and content commitments, and would include assets such as the ThreeNow platform.

    Sky said irrespective of the transaction, the company was confident of achieving its 30 cents a share dividend target for 2026.

    ‘Massive change’ for NZ media – ThreeNews to continue
     Founder of The Spinoff and media commentator Duncan Greive said the deal would give Sky more reach and was a “massive change” in New Zealand’s media landscape.

    He noted Sky’s existing free-to-air presence via Sky Open (formerly Prime), but said acquiring Three gave it the second-most popular audience outlet on TV.

    “Because of the inertia of how people use television, Three is just a much more accessible channel and one that’s been around longer,” Greive said.

    “To have basically the second-most popular channel in the country as part of their stable just means they’ve got a lot more ad inventory, much bigger audiences.”

    It also gave Sky another outlet for their content, and would allow it to compete further against TVNZ, both linear and online, Greive said.

    He said there may be a question mark around the long-term future of Three’s news service, which was produced by Stuff.

    No reference to ThreeNews
    Sky made no reference to ThreeNews in its announcement. However, Stuff confirmed ThreeNews would continue for now.

    “Stuff’s delivery of ThreeNews is part of the deal but there are also now lots of new opportunities ahead that we are excited to explore together,” Stuff owner Sinead Boucher said in a statement.

    On the deal itself, Boucher said she was “delighted” to see Three back in New Zealand ownership under Sky.

    “And who doesn’t love a $1 deal!” Boucher said, referring to her own $1 deal to buy Stuff from Australia’s Nine Entertainment in 2020.

    This article is republished under a community partnership agreement with RNZ.

    MIL OSI Analysis – EveningReport.nz –

    July 22, 2025
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