Category: Business

MIL-OSI: Company announcement for the first quarter of 2025
Source: GlobeNewswire (MIL-OSI)

To NASDAQ Copenhagen A/S

7 May 2025
Announcement No. 39/2025

Company announcement for the first quarter of 2025

On May 7, 2025, the Supervisory Board has approved the company announcement for the first quarter of 2025 for Jyske Realkredit A/S.

Please see attached file.

Yours sincerely,
Jyske Realkredit A/S

Carsten Tirsbæk Madsen
CEO

Direct phone (+45) 89 89 90 50
E-mail: ctm@jyskerealkredit.dk

Web: jyskerealkredit.dk

Please observe that the Danish version of this announcement prevails.

Attached files:
Company Announcement Q1 2025 for Jyske Realkredit.pdf

Attachment
- Company Announcement Q1 2025 for Jyske Realkredit
The MIL Network –
May 7, 2025

MIL-OSI: OP Financial Group’s Interim Report for 1 January–31 March 2025: OP Financial Group reports a good first quarter in an uncertain operating environment

Source: GlobeNewswire (MIL-OSI)

OP Financial Group
Interim Report 1 January–31 March 2025
Stock Exchange Release 7 May 2025 9.00 am EEST

OP Financial Group’s Interim Report for 1 January–31 March 2025: OP Financial Group reports a good first quarter in an uncertain operating environment

Operating profit decreased by 31% to EUR 423 million (618).
Net interest income decreased by 11% to EUR 631 million (709). Insurance service result was EUR 2 million (-10) and net commissions and fees were EUR 206 million (205). Income from customer business, that is, net interest income, insurance service result and net commissions and fees, decreased by a total of 7% to EUR 839 million (904).
Impairment loss on receivables reversed came to EUR 24 million (-39), representing -0.10% of the loan and guarantee portfolio (0.15).
Investment income decreased by 88% to EUR 19 million (151).
Total expenses grew by 10% to EUR 590 million (537). The cost/income ratio weakened to 60% (45).
In the year to March, the loan portfolio grew by 1% to EUR 99.1 billion (98.4). Deposits increased by 5% to EUR 77.5 billion (73.6).
The CET1 ratio was 20.0% (21.5), which exceeds the minimum regulatory requirement by 6.9 percentage points. The changes in the collateral management process decreased capital adequacy. The changes in the EU Capital Requirements Regulation (CRR3), which took effect on 1 January 2025, caused a slight reduction in the capital adequacy of OP Financial Group.
The Retail Banking segment’s operating profit decreased by 23% to EUR 291 million (379). Net interest income decreased by 17% to EUR 464 million (558). Impairment loss on receivables reversed came to EUR 26 million (-27). Net commissions and fees increased by 2% to EUR 190 million (187). The cost/income ratio weakened to 60% (46). In the year to March, the loan portfolio grew by 0.4% to EUR 71.0 billion (70.6). Deposits increased by 4% to EUR 64.0 billion (61.8). Assets under management grew by 6% to EUR 94.4 billion (89.4).
Corporate Banking segment’s operating profit grew by 13% to EUR 145 million (129). Net interest income decreased by 0.5% to EUR 165 million (166). Impairment loss on receivables decreased by 89% to EUR 1 million (12). Net commissions and fees decreased by 10% to EUR 21 million (23). The cost/income ratio was 33% (32). In the year to March, the loan portfolio grew by 1% to EUR 28.2 billion (27.8). Deposits increased 14% by to EUR 14.2 billion (12.5).
The Insurance segment’s operating loss was EUR -14 million (118). The insurance service result grew to EUR 2 million (-10). Investment income fell to EUR -17 million (129). The combined ratio reported by non-life insurance improved to 99.5% (108.9).
Group Functions’ operating profit was EUR 23 million (-5). Net interest income grew to EUR 2 million (-6).
OP Financial Group increased the OP bonuses to be earned by owner-customers for 2025 by 40% compared to the normal level of 2022. Additionally, owner-customers get daily banking services without monthly charges in 2025. Together, these benefits added up to EUR 104 million in value for owner-customers during the reporting period.
Outlook: OP Financial Group’s operating profit for 2025 is expected to be at a good level but lower than that for 2023 and 2024. For more detailed information on the outlook, see “Outlook”.

OP Financial Group’s key indicators

€ million	Q1/2025	Q1/2024	Change, %	Q1–4/2024
Operating profit, € million	423	618	-31.4	2,486
Retail Banking***	291	379	-23.4	1,328
Corporate Banking***	145	129	12.8	520
Insurance	-14	118	-111.5	578
Group Functions	23	-5	–	19
New OP bonuses accrued to owner-customers, € million	-81	-75	7.6	-314
Total income**	989	1,194	-17.1	4,844
Total expenses	-590	-537	10.0	-2,262
Cost/income ratio, %/*	59.7	45.0	14.7	46.7
Return on equity (ROE), %*	7.5	12.1	-4.5	11.6
Return on equity, excluding OP bonuses, %*	8.8	13.4	-4.6	13.0
Return on assets (ROA), %*	0.85	1.25	-0.40	1.24
Return on assets, excluding OP bonuses, %*	0.99	1.39	-0.39	1.39
	31 Mar 2025	31 Mar 2024	Change, %	31 Dec 2024
CET1 ratio, %*	20.0	19.6	0.3	21.5
Loan portfolio, € billion	99.1	98.4	0.7	98.9
Deposits, € billion	77.5	73.6	5.4	77.7
Assets under management, € billion****	94.4	89.4	5.6	93.3
Ratio of non-performing exposures to exposures, %*	2.48	3.04	-0.56	2.64
Ratio of impairment loss on receivables to loan and guarantee portfolio, %*	-0.10	0.15	-0.25	0.09
Owner-customers (1,000)	2,121	2,095	1.3	2,115

Comparatives for the income statement items are based on the corresponding figures in 2024. Unless otherwise specified, figures from 31 December 2024 are used as comparatives for balance-sheet and other cross-sectional items.
* Change in ratio, percentage point(s).
** OP bonuses to owner-customers, which were previously shown on a separate line in the income statement, have been divided under the following items based on their accrual: interest income, interest expenses, and commission income from mutual funds. The line ‘OP bonuses to owner-customers’ is no longer shown in the income statement. Comparative information of Q1 2024 has been adjusted accordingly. For more detailed information on the change, see Note 1 to the Half-year Financial Report 1 January–30 June 2024, Accounting policies and changes in accounting policies and presentation.
*** As of 1 January 2025, OP Asset Management Ltd, OP Fund Management Company Ltd and OP Real Estate Asset Management Ltd, including subsidiaries, are reported as part of the Retail Banking segment. Comparative information of 2024 has been adjusted accordingly.
**** The presentation of assets under management was changed at the beginning of 2025. Comparatives have been adjusted to correspond to the current definition.

Comments by the President and Group Chief Executive Officer:

Geopolitical tensions and the trade war are making the economic outlook uncertain

In the first quarter of 2025, the business environment was marked by uncertainty and an exceptionally tense geopolitical situation. The war in Ukraine has continued for more than three years, no solution is in sight for the Middle-East conflict, and the trade war ignited by US tariff rises is creating exceptional uncertainty in the world economy. As the tectonic plates of geopolitics and world trade structures shift, it is difficult to see where they will settle. The golden age of globalisation, which began in the late nineties, already appears to be over for now; free global trade seems unlikely to return to its former course. Mounting trade barriers will slow global growth and increase inflationary pressures.

Due to the uncertainty, the most recent analyses revise economic forecasts downwards: OP Financial Group’s latest projection envisages GDP growth of 1% in Finland this year. The world economy is expected to grow by only 2.5%, which is a relative slowdown in terms of global growth. However, given the exceptional uncertainty in growth prospects, positive changes in the outlook are also possible.

Gloomy economic expectations have spurred cuts in interest rates and the markets expect short-term market rates to keep falling in the euro zone. Conversely, long-term rates have risen due to concerns that public debt will continue to rise in the euro zone.

The uncertainty seems to be dampening consumer confidence and companies’ willingness to invest. Despite this, the housing market continues its gradual recovery.

The trade war has magnified the unusual volatility in stock market prices. In many markets, the early-year rise in stock prices was wiped out as Q1 ended: in late March, the global equity index was 2.1% lower than at the end of 2024. European share markets defied this trend, rising by 5.2% after the year-end; the Nasdaq Helsinki closed 4.2% higher.

OP Financial Group performed well, despite the turbulence in capital markets

Regardless of the challenging business environment, OP Financial Group’s profitability remained high and its operating profit was EUR 423 million. This represents a decrease of 31% compared to the same period in 2024. Our strong profit performance will enable us to continue providing outstanding benefits for our more than 2.1 million owner-customers in 2025. This year again, we will use benefits to help ease the strain on households in economically challenging times. We will pay 40% extra (compared to the normal level of 2022) on OP bonuses earned in 2025 and will not charge our owner-customers monthly fees for daily services throughout the year. Together, these benefits will add up to more than EUR 400 million in value for our owner-customers. Being customer-owned, OP Financial Group will continue to share its financial success through a range of financial and other benefits for owner-customers.

Strong capital adequacy and excellent liquidity provide security in the uncertain and often unpredictable business environment. At the end of March, OP Financial Group’s CET1 ratio was 20.0%, which exceeds the minimum regulatory requirement by 6.9 percentage points. OP Financial Group is one of the most financially solid large banks in Europe. Furthermore, our liquidity remained excellent. Strong capital adequacy, excellent liquidity and broad trust among customers and other stakeholders are vital for banks and insurance companies, particularly in these uncertain times. All of these are in excellent shape at OP Financial Group.

Income from OP Financial Group’s business operations was EUR 989 million in January–March, which was 17% less year-on-year. In particular, net interest income fell by 11% due to decreases in market rates. Net commissions and fees were at the same level year-on-year.

The insurance service result was a EUR 2 million profit, compared to a EUR 10 million loss for Q1 in 2024. This was due to a more favourable claims trend than a year earlier, although the insurance service result for this year’s Q1 was weighed down by growing operating expenses and the poor profitability of health insurance.

Due to turbulence in the markets, income from investment activities was modest at EUR 19 million, compared to EUR 151 million at the end of March last year.

Totalling EUR 590 million, OP Financial Group’s expenses were higher by 10% year-on-year, mainly due to rising personnel costs and higher investments in ICT development. At 60%, OP Financial Group’s cost-income ratio clearly deteriorated compared to Q1 2024.

Of the three business segments, the best performer was Corporate Banking, which had an operating profit of EUR 145 million in January–March, a year-on-year increase of 13%. Despite a 23% decrease, Retail Banking’s operating profit of EUR 291 million was also a good performance. The segment was particularly affected by falling market rates: net interest income decreased by 17%. Due to a poor investment result, the Insurance segment recorded a EUR 14 million operating loss. This compares to the segment’s operating profit of EUR 118 million for Q1 in 2024.

Both deposit and loan volumes are growing – impairment loss on receivables was exceptionally positive

The deposit portfolio grew by 5% year-on-year, total deposits being EUR 77.5 billion at the end of March. OP Financial Group’s market share of deposits has been growing markedly over the last couple of years.

Moreover, its loan portfolio, which grew by around 1% year-on-year, was EUR 99.1 billion: with this, the Group held onto its position as Finland’s leading provider of home loans. The home loan market has shown signs of recovery in recent months: for example, the euro amount of new home loans granted by OP Financial Group in March 2025 was 28% higher than in March 2024. OP’s home loan customers have continued to repay their loans diligently and on schedule. The number of loan modification applications was lower than in the same period in 2024. Year-on-year, the number of corporate loans under special monitoring declined.

The ratio of non-performing exposures to the loan and guarantee portfolio decreased to 2.5%. Exceptionally, reversals of impairment loss on receivables totalled EUR 24 million in January–March, compared to EUR -39 million recognised for Q1 a year earlier.

Savings and investments are growing strongly – OP First Investment for babies incentivises long-term investment

Alongside our aim to coach our customers in making better financial choices, we have focused on making personal financial management easier for them, while enabling and supporting long-term saving and investing. Wealth management is one of our growth focus areas and we aim to make a clear growth leap in this business activity. Despite the volatility on stock markets, our customers retained a strong interest in securing their financial futures and accumulating wealth.

Customers were interested in systematically investing in funds – they made almost 57,000 new systematic investment agreements with us, which is a 22% increase compared to Q1 in 2024. There are already more than 1.4 million OP mutual fund unitholders. In addition, the number of active equity investors grew by 34%. Reaching almost EUR 94 billion in value, investment assets managed by OP Financial Group grew by 6% compared to January–March 2024.

OP Financial Group member cooperative banks will make an OP First Investment donation – a EUR 100 investment in the OP-World Index fund – to every baby born in Finland this year. The wellbeing of children and youths is one of OP’s values and part of its approach to corporate responsibility. With OP First Investment, we want to encourage families to engage in systematic, long-term saving and investment. Based on last year’s figures, the estimated aggregate value of OP First Investment donations may exceed EUR 4.3 million. OP First Investment can be received from May 2025, when it will become available for babies born in 2025 (including those born before May).

The mild winter had a positive impact on claims, but health insurance claims expenditure continued to grow considerably

Pohjola Insurance’s premiums written grew by 1% compared to the first quarter of last year. Premiums written grew by more than 8% regarding personal customers, but decreased by 2% in the case of corporate customers.

Pohjola Insurance’s claims expenditure fell by 16% year-on-year. Due to the mild winter, building claims were 36% down and compensation paid for vehicle claims was 2% lower than for Q1 in 2024. On the other hand, health insurance compensation grew by 14% compared to the first three months of last year.

Compensation was paid for a total of 94% of all claims, which was the same level as a year earlier.

Use of digital services is still growing – phone number-based payment is becoming more versatile

Use of digital services grew substantially again. Our personal and corporate customers increasingly use digital channels for banking and insurance. OP-mobile was logged into more than 60 million times in March. The app already has more than 1.7 million active users. Use of OP Aina – which was launched in June last year as a personal assistant for customers using OP-mobile – grew in the first quarter to 1.5 million service interactions. We use OP Aina to provide customers with services that are even more personalised than before and continuously available.

Siirto Brand Oy, a joint venture between OP and Nordea, began operating: the company provides Finnish solutions for easy and secure payment. With just a phone number, users can make payments to friends or online stores, and a feature for ordering recurring or single e-invoices is planned. These services will expand opportunities to make account-based payments in Finland. Siirto already has 1.5 million registered users.

A historically large structural change is underway among OP cooperative banks

New plans were published during the first quarter for mergers between OP cooperative banks around Finland. The mergers announced and decided so far will reduce the number of OP cooperative banks from 93 at the end of 2024 to 54 by the end of 2025. In addition, several projects (both published and unpublished) for mergers between OP cooperative banks are being planned.

Key drivers of mergers between OP cooperative banks include ensuring that they can provide the most comprehensive, highest quality banking services possible in their operating regions, while keeping pace with the increase in banking regulations.

In uncertain times, we need pioneers that point the way to futures filled with hope

OP Financial Group is in excellent shape to support customers in various ways in the uncertain business environment. We want to be a pioneer pointing the way to futures filled with hope in Finnish society – we will pursue this objective through a number of measures this year. An example is our new partnership with the Hive coding school, through which we aim to promote work-based immigration and the training of people from diverse backgrounds for high-level roles in IT. The future success and wellbeing of Finland and its people depend on stepping up work-based immigration and solving the challenges posed by the ageing of society, as Finland’s working-age population decreases.

My warm thanks to all our customers for the trust they showed in OP Financial Group in early 2025. We aim to continue being worthy of the confidence you place in us. I would also like to thank our employees and governing bodies for their excellent work in the first quarter of 2025.

Timo Ritakallio
President and Group CEO

January–March

OP Financial Group’s operating profit was EUR 423 million (618), down by 31.4% or EUR 194 million year on year. Income from customer business (net interest income, net commissions and fees and insurance service result) decreased by a total of 7.2% to EUR 839 million (904). The cost/income ratio weakened to 59.7% (45.0). New OP bonuses accrued to owner-customers increased by 7.6% to EUR 81 million.

As a result of lower market interest rates, net interest income decreased by 11.0% to EUR 631 million. Net interest income reported by the Retail Banking segment decreased by 16.9% to EUR 464 million and that by the Corporate Banking segment decreased by 0.5% to EUR 165 million. OP Financial Group’s loan portfolio grew by 0.7% to EUR 99.1 billion while deposits grew by 5.4% to EUR 77.5 billion, year on year. Household deposits increased by 4.1% year on year, to EUR 49.0 billion. New loans drawn down by customers during the reporting period totalled EUR 6.1 billion (4.5).

Impairment loss on receivables reversed came to EUR 24 million (-39). Final credit losses totalled EUR 16 million (12). At the end of the reporting period, loss allowance was EUR 784 million (824), of which management overlay accounted for EUR 58 million (77). Non-performing exposures decreased, accounting for 2.5% (3.0) of total exposures. Impairment loss on loans and receivables accounted for -0.10% (0.15) of the loan and guarantee portfolio.

Net commissions and fees grew by 0.4% to EUR 206 million. Owner-customers’ use of daily banking services has been free of monthly charges since October 2023. Net commissions and fees for payment transfer services increased by EUR 3 million to EUR 58 million, and those for mutual funds by EUR 2 million to EUR 46 million.

The insurance service result was EUR 2 million (-10). Insurance service result includes EUR 142 million (129) in operating expenses. Non-life insurance net insurance revenue, including the reinsurer’s share, decreased by 1.1% to EUR 419 million. Net claims incurred after the reinsurer’s share decreased by 15.8% to EUR 287 million. The combined ratio reported by non-life insurance improved to 99.5% (108.9).

Investment income (net investment income, net insurance finance expenses and income from financial assets held for trading) decreased by a total of 87.5% to EUR 19 million. Investment income decreased as a result of the decrease in the value of equity investments and notes and bonds in particular. Net investment income together with net finance income describe investment profitability in the insurance business. The combined return on investments at fair value of OP Financial Group’s insurance companies was -1.1% (2.0).

Net income from financial assets recognised at fair value through profit or loss, or notes and bonds, shares and derivatives, totalled EUR -448 million (744). Net income from investment contract liabilities totalled EUR 184 million (-359). Net insurance finance expenses totalled EUR 229 million (-250).

In banking, net income from financial assets held for trading came to EUR 53 million (8) as a result of changes in the value of derivatives.

Other operating income totalled EUR -11 million (9). A EUR 23 million valuation adjustment in patient insurance policies with full risk for own account decreased other operating income.

Total expenses grew by 10.0% to EUR 590 million. Personnel costs rose by 9.4% to EUR 280 million. The increase was affected by headcount growth and pay increases. OP Financial Group’s personnel increased by more than 800 year on year. The number of employees increased in areas such as sales, customer service, service development, risk management and compliance. Depreciation/amortisation and impairment loss on PPE and intangible assets decreased by 4.1% to EUR 32 million. Other operating expenses increased by 12.4% to EUR 278 million. ICT costs totalled EUR 139 million (123). Development costs were EUR 101 million (83) and capitalised development expenditure EUR 13 million (14). Charges of financial authorities were EUR 1 million (1). The EU’s Single Resolution Board (SRB) does not collect stability contributions from banks for 2025.

At EUR 73 million (69), OP bonuses for owner-customers are included in earnings and are divided under the following items based on their accrual: EUR 33 million (35) under interest income, EUR 22 million (19) under interest expenses, EUR 13 million (11) under commission income from mutual funds, and EUR 4 million (4) under the insurance service result.

Income tax amounted to EUR 85 million (125). The effective tax rate for the reporting period was 20.1% (20.3). Comprehensive income after tax totalled EUR 362 million (509).

OP Financial Group’s equity amounted to EUR 18.2 billion (18.1). Equity included EUR 3.1 billion (3.3) in Profit Shares, terminated Profit Shares accounting for EUR 0.2 billion (0.4).

OP Financial Group’s funding position and liquidity are strong. The Group’s LCR was 202% (193) and NSFR was 129% (129).

OP Cooperative’s Annual Cooperative Meeting

On 9 April 2025, OP Cooperative held its Annual Cooperative Meeting which elected members of the Supervisory Council, the auditor and the sustainability reporting assurer.

The Supervisory Council comprises 36 members. The Annual Cooperative Meeting re-elected the following members to the Supervisory Council who were due to resign: Managing Director Jouni Hautala, Lawyer Taija Jurmu, Managing Director Pekka Lehtonen, Vicar Toivo Loikkanen, Managing Director Kari Mäkelä, Chair of the Board of Directors Annukka Nikola, Managing Director Ulf Nylund, Managing Director Teemu Sarhemaa and Managing Director Ari Väänänen.

New Supervisory Council members elected were entrepreneur Erkki Haavisto, Managing Director Sanna Metsänranta, Managing Director Pertti Purola, Product Manager Sanna Tefke, Director of Rural Administration Hannu Tölli and Managing Director Mikko Vepsäläinen.

At its reorganising meeting on 9 April 2025, the Supervisory Council elected the Chairs of the Supervisory Council. Chair of the Board of Directors Annukka Nikola was elected as Chair and Lawyer Taija Jurmu and Managing Director Ari Väänänen as Vice Chairs of the Supervisory Council.

The Annual Cooperative Meeting elected PricewaterhouseCoopers Oy, an audit firm, to act as auditor for the financial year 2025, with APA Lauri Kallaskari as the chief auditor.

The Annual Cooperative Meeting elected PricewaterhouseCoopers Oy, a sustainability audit firm, to assure OP Financial Group’s sustainability reporting for the financial year 2025, with Tiina Puukkoniemi, ASA, acting as the chief authorised sustainability auditor.

Outlook

The global economic outlook has weakened due to increased tariffs and a higher level of uncertainty. The Finnish economy is likely to grow less than previously expected and the outlook is exceptionally uncertain. The escalation of geopolitical crises or a rise in trade barriers may affect capital markets and the economic environment of OP Financial Group and its customers.

OP Financial Group’s operating profit for 2025 is expected to be at a good level but lower than that for 2023 and 2024.

The most significant uncertainties affecting OP Financial Group’s earnings performance are associated with developments in the business environment, changes in the interest rate and investment environment, and developments in impairment loss on receivables. Forward-looking statements in this Interim Report expressing the management’s expectations, beliefs, estimates, forecasts, projections and assumptions are based on the current view on developments in the economy, and actual results may differ materially from those expressed in the forward-looking statements.

Press conference

OP Financial Group’s financial performance will be presented to the media by the President and Group Chief Executive Officer Timo Ritakallio in a press conference on 7 May 2025 at 11am at Gebhardinaukio 1, Vallila, Helsinki. Media enquiries: OP Corporate Communications, tel. +358 10 252 8719, viestinta@op.fi

OP Corporate Bank plc and OP Mortgage Bank plc will publish their own interim reports.

Schedule for 2025 Interim Reports and Half-year Financial Report:

Half-year Financial Report 1 January–30 June 2025	30 July 2025
Interim Report 1 January–30 September 2025	28 October 2025
OP Amalgamation Pillar 3 Disclosures 31 March 2025	Week 19
OP Amalgamation Pillar 3 Disclosures 30 June 2025	Week 33
OP Amalgamation Pillar 3 Disclosures 30 September 2025	Week 45

Helsinki, 7 May 2025

OP Cooperative
Board of Directors

Additional information:

Timo Ritakallio, President and Group Chief Executive Officer, tel. +358 (0)10 252 4500
Mikko Timonen, Chief Financial Officer, tel. +358 (0)10 252 1325
Piia Kumpulainen, Chief Communications Officer, tel. +358 10 252 7317

DISTRIBUTION

Nasdaq Helsinki Ltd
Euronext Dublin (Irish Stock Exchange)
London Stock Exchange
Major media
op.fi

OP Financial Group is Finland’s largest financial services group, with more than two million owner-customers and over 14,000 employees. We provide a comprehensive range of banking and insurance services for personal and corporate customers. OP Financial Group consists of OP cooperative banks, its central cooperative OP Cooperative, and the latter’s subsidiaries and affiliates. Our mission is to promote the sustainable prosperity, security and wellbeing of our owner-customers and operating region. Together with our owner-customers, we have been building Finnish society and a sustainable future for 120 years now. www.op.fi

The MIL Network –

May 7, 2025

MIL-OSI: Stasher and Quadient Partner to Launch Nationwide Luggage Storage Using UK Smart Locker Network
Source: GlobeNewswire (MIL-OSI)

Quadient (Euronext Paris: QDT), a global automation platform powering secure and sustainable business connections, is pleased to announce a strategic partnership with Stasher, the world’s first luggage storage platform. This partnership marks a significant expansion of Stasher’s UK network and will provide travelers in key cities throughout the UK, including London, Birmingham, York, Edinburgh, Newcastle, Cardiff and Manchester, with more convenient, secure, and accessible luggage storage options through more than 1,640 Parcel Pending by Quadient smart lockers.

Gone are the days of dragging bags through crowded streets or waiting for hotel or travel check-in. Stasher offers hassle-free bag storage in 1,100+ cities worldwide, connecting travelers with a global network of trusted hotels, shops, and now Parcel Pending by Quadient smart lockers in the UK. Backed by award-winning customer support and a 4.8/5 rating from over 1.2 million reviews, Stasher has become the go-to solution for travelers seeking flexibility and peace of mind.

The integration with Parcel Pending by Quadient smart lockers marks a new chapter in convenience. Combining Stasher’s seamless booking experience with Parcel Pending by Quadient’s secure and easy-to-use locker terminals, travelers will now enjoy even more flexible storage – perfect for early arrivals, late departures, and everything in between.

“We’re excited to partner with Quadient to grow our smart lockers footprint,” said Oscar Thanoyannis, Commercial Director at Stasher. “This collaboration brings us closer to our mission: making travel easier, lighter and more enjoyable for everyone.”

The partnership is further proof of Quadient’s commitment to offering a broad range of services that enhance urban last-mile logistics and consumer convenience. Open to all carriers and services, Parcel Pending by Quadient open network lockers serve as local convenience hubs, offering secure, 24/7 access for deliveries, returns, exchanges, and item storage for services such as prescription pick up, retail click and collect, key exchange, and spare parts. Now, through this collaboration with Stasher, they will also operate as luggage storage hubs.

“We’re proud to join forces with Stasher to extend the reach and functionality of our Parcel Pending by Quadient smart locker network,” said Katia Bourgeais-Crémel, EVP Parcel Locker Solutions Europe at Quadient. “This partnership highlights the versatility of our lockers and our commitment to creating innovative, consumer-centric solutions that simplify everyday life—whether it’s picking up a parcel or storing your luggage.”

Quadient is steadily expanding its smart locker network across key markets in the U.S., Japan, and Europe. With over 25,700 units currently installed worldwide, the company is well on its way toward its long-term objective of deploying 40,000 by 2030.

Learn more at parcelpending.com/en-gb.

About Stasher
Stasher is the world’s first luggage storage platform, connecting travelers with thousands of verified hotels, shops, and smart lockers to store their bags securely and affordably. Operating in more than 1,100 cities with over 8,000 hosts, Stasher is trusted by millions to provide a seamless solution for bag storage before check-in, after check-out, during layovers, or while attending events.

About Quadient®
Quadient is a global automation platform powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing. For more information about Quadient, visit www.quadient.com.

Contact

Joe Scolaro, Quadient
Global Press Relations Manager
+1 203-301-3673
j.scolaro@quadient.com

Attachment
- PR Quadient Stasher 2025 EN
The MIL Network –
May 7, 2025
MIL-OSI: Cybernet and Nokia redefine Pakistan’s network landscape with 1.2T-per-lambda backbone
Source: GlobeNewswire (MIL-OSI)

Press Release
Cybernet and Nokia redefine Pakistan’s network landscape with 1.2T-per-lambda backbone
- Cybernet has selected Nokia’s innovative 1830 Global Express (GX) platform with integrated optical line system capabilities and ICE7 coherent optics.
- Cybernet’s new network will provide connectivity services to over 25 cities across Pakistan.
- The Nokia solution will help Cybernet meet growing customer bandwidth demands with high-capacity services at market-competitive cost and power per bit.
7 May 2025

Espoo, Finland – Nokia today announced that Cybernet, Pakistan’s leading fiber broadband provider, has chosen Nokia’s cutting-edge optical transport solution for its new long-haul Optical Fiber Cable (OFC) network. Designed to deliver 1.2 terabits per second (Tbps) per wavelength, this next-generation infrastructure will power Cybernet’s national backbone. The network will connect over 25 cities in its initial phase and deliver more than 50 Tbps of long-haul capacity.

This deployment will support data center interconnect, enterprise and carrier networks, as well as Cybernet’s flagship consumer broadband service, StormFiber.

Cybernet provides comprehensive connectivity solutions across Pakistan, serving enterprise, corporate, and residential customers, in addition to offering carrier and transit services to international telecom operators. To support its growing data demands and build a terabit-scale infrastructure, Cybernet is deploying Nokia’s 1830 GX platform, integrated with 1.2T ICE7 coherent optics. The new network will expand capacity along resilient, diverse routes and enable a high-speed, low-latency terrestrial backbone that spans the entire country.

In addition to connecting cities and communities through Cybernet’s digital highways, the new backbone will also support cross-border transit services for carriers and internet service providers in Central Asia. By delivering scalable, high-capacity services at globally competitive rates, this initiative will ultimately accelerate Pakistan’s digital transformation and foster regional connectivity.

“By enhancing our network with cutting-edge technology, we’re able to keep pace with our customers’ rapidly evolving connectivity needs and deliver a superior end-user experience. Nokia is a trusted technology leader with the expertise and innovation to support our modernization goals. The 1830 GX-based solution will form the foundation for high-capacity services connecting Pakistan—and the region—to the global digital economy,” said Maroof Ali Shahani, Chief Operating Officer of Cybernet.

“Deploying state-of-the-art optical solutions ensures networks are not just keeping pace with, but even staying ahead in the race to meet surging bandwidth demands. As Cybernet prepares to modernize its network infrastructure, Nokia is proud to be helping transform Pakistan’s connectivity landscape with a 1.2T backbone, seamlessly interconnecting data centers, powering government networks, and delivering direct-to-home services,” said James Watt, Senior Vice President and General Manager, Optical Networks at Nokia.

Multimedia, technical information and related news
Product Page: ICE7 1.2Tb/s high-performance coherent optics

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

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

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

About Cybernet

Cybernet is a leading fixed-line telecommunications provider in Pakistan with over 25 years of experience delivering high-quality connectivity solutions. Operating the country’s largest and most resilient FTTX network, Cybernet serves enterprise, carrier, and residential customers nationwide. It has international points of presence in France, the UAE, Oman, Singapore, and Hong Kong. Its service portfolio includes Carrier Ethernet, IPLC, DIA, MPLS, IP Transit, Wholesale Voice, Peering, cross-border and submarine transit capacities, as well as cloud and carrier-grade hosting. Cybernet is also the parent company of StormFiber, a fast-growing fiber broadband provider active in over 25 cities across Pakistan. Through sustained investment in infrastructure and innovation, Cybernet is helping to shape the future of Pakistan’s digital ecosystem.

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

Follow us on social media
LinkedIn X Instagram Facebook YouTube

The MIL Network –
May 7, 2025

MIL-OSI: Agillic releases Q1 2025 financial results: YoY, ARR from subscriptions is up 4%, EBITDA is up DKK 0.2 million, and cash flow from operations improved by DKK 1.9 million

Source: GlobeNewswire (MIL-OSI)

Announcement no. 08 – Copenhagen, 7 May 2025 – Agillic A/S

ARR from subscriptions increased by 4% in Q1 2025 vs. Q1 2024 due to new clients and stabilisation of churn. Agillic expects growth from both existing clients and new clients in 2025.

Total revenue decreased by 1% in Q1 2025 YoY due to lower revenue following last year’s high churn level. Total revenue is expected to increase in 2025 as per 2025 guidance.

EBITDA increased by 20% in Q1 2025 vs. Q1 2024. The increase is driven by reduced employee costs following the organisational changes in Q4 2024.

Cash flow from operations was DKK 1.9 million in Q1 2025, an increase of DKK 1.9 million YoY. The improved cash flow derives from a positive development in working capital.

Key financial and SaaS highlights
(DKK million)

Income statement	Q1 2025	Q1 2024	Change	YTD 2025	YTD 2024	Change
Revenue subscriptions	12.6	12.6	0%	12.6	12.6	0%
Revenue transactions	2.1	2.2	-5%	2.1	2.2	-5%
Total revenue	14.7	14.8	-1%	14.7	14.8	-1%
Gross profit	12.0	12.3	-2%	12.0	12.3	-2%
Gross margin	82%	83%	–	82%	83%	–
Other operating income	0.0	0.2	-100%	0.0	0.2	-100%
Employee costs	-7.6	-8.6	12%	-7.6	-8.6	12%
Operational costs	-3.6	-3.3	-9%	-3.6	-3.3	-9%
EBITDA	0.8	0.6	20%	0.8	0.6	20%
Net profit	-3.0	-3.4	11%	-3.0	-3.4	11%

Financial position
Cash	5.2	7.2	-28%	5.2	7.2	-28%
Cash flow from operations	1.9	0.0	–	1.9	0.0	–

ARR subscriptions
ARR	54.4	52.2	4%	54.4	52.2	4%
Change in ARR	2.2	-2.0	–	2.2	-2.0	–
Change in ARR %	4%	-4%	–	4%	-4%	–

Financial guidance 2025 (announced on 6 February 2025, unchanged)

Revenue	DKK 60-63 million
EBITDA	DKK 5-8 million
ARR subscriptions	DKK 56-60 million

For further information, please contact:
Christian Samsø, CEO
+45 24 88 24 24
christian.samsoe@agillic.com

Jack Sørensen, CFO
+45 53 88 61 48
jack.soerensen@agillic.com

Certified Adviser
HC Andersen Capital
Pernille Friis Andersen

Disclaimer
The forward-looking statements regarding Agillic’s future financial situation involve factors of uncertainty and risk. which could cause actual developments to deviate from the expectations indicated. Statements regarding the future are subject to risks and uncertainties that may result in considerable deviations from the presented outlook. Furthermore, some of these expectations are based on assumptions regarding future events, which may prove incorrect. Please also refer to the overview of risk factors in the ‘risk management’ section of the annual report.

About Agillic A/S
Agillic (Nasdaq First North Growth Market Denmark: AGILC) is a Danish software company offering brands a platform through which they can work with data-driven insights and content to create, automate and send personalised communication to millions. Agillic is headquartered in Copenhagen, Denmark. For further information, please visit www.agillic.com

Attachment

Agillic Company Announcement no. 08-2025

The MIL Network –

May 7, 2025

MIL-OSI: OP Corporate Bank plc’s Interim Report 1 January–31 March 2025

Source: GlobeNewswire (MIL-OSI)

OP Corporate Bank plc
Interim Report 1 January–31 March 2025
Stock Exchange Release 7 May 2025 at 9.00 am EEST

OP Corporate Bank plc’s Interim Report 1 January–31 March 2025

OP Corporate Bank plc’s operating profit rose to EUR 140 million (112).
Total income grew by 10% to EUR 215 million (196). Net interest income, EUR 157 million, remained at the previous year’s level (157). Investment income increased to EUR 24 million (9). Net commissions and fees decreased by 14% to EUR 17 million (19). Other operating income increased to EUR 17 million (11).
Impairment loss on receivables decreased to EUR 1 million (12).
Total operating expenses increased by 3% to EUR 73 million (71). The cost/income ratio improved to 34% (36).
The loan portfolio grew by 1.4% to EUR 28.2 billion (27.8) year on year. The deposit portfolio increased by 20.9% year on year, to EUR 16.0 billion (13.3).
The Corporate Banking and Capital Markets segment’s operating profit increased to EUR 86 million (80). Net interest income decreased by 2% to EUR 94 million (97). Net commissions and fees totalled EUR 1 million (1). Investment income increased to EUR 22 million (10). Operating expenses increased by 4% to EUR 31 million (30). Impairment loss on receivables totalled EUR 3 million. A year ago, impairment loss on receivables reversed came to EUR 1 million. The cost/income ratio improved to 26% (27).
The Asset and Sales Finance Services and Payment Transfers segment’s operating profit increased to EUR 49 million (37). Net interest income, EUR 55 million, remained at the previous year’s level (55). Net commissions and fees decreased to EUR 14 million (17). Operating expenses increased by 4% to EUR 29 million (28). Impairment loss on receivables reversed came to EUR 2 million. A year ago, impairment loss on receivables totalled EUR 13 million. The cost/income ratio weakened to 38% (36).
The Baltics segment’s operating profit amounted to EUR 9 million (10). Net interest income, EUR 15 million, remained at the previous year’s level (15). Net commissions and fees totalled EUR 2 million (2). Operating expenses increased to EUR 9 million (8). The cost/income ratio weakened to 49% (45).
The Group Functions segment’s operating loss was EUR 3 million. A year ago, the operating loss amounted to EUR 15 million. Funding position and liquidity remained strong.
OP Corporate Bank plc’s CET1 ratio remained at 13.9% (14.1), which exceeds the minimum regulatory requirement by 5.1 percentage points. The changes in the EU Capital Requirements Regulation (CRR3), which took effect on 1 January 2025, caused a slight reduction in capital adequacy.

OP Corporate Bank plc’s key indicators

€ million	Q1/2025	Q1/2024	Change, %	Q1–4/2024
Operating profit (loss), € million	140	112	24.9	473
Corporate Banking and Capital Markets	86	80	7.1	307
Asset and Sales Finance Services and Payment Transfers	49	37	30.1	167
Baltics	9	10	-5.4	39
Group Functions	-3	-15	—	-40
Total income	215	196	9.6	773
Total expenses	-73	-71	2.5	-298
Cost/income ratio, %	34.1	36.5	-2.3*	38.6
Return on equity (ROE), %	9.2	7.5	1.7*	7.9
Return on assets (ROA), %	0.59	0.46	0.13*	0.48
	31 Mar 2025	31 Mar 2024	Change, %	31 Dec 2024
CET1 ratio, %	13.9	13.3	0.6*	14.1
Loan portfolio, € million	28,234	27,850	1.4	28,295
Guarantee portfolio, € million	2,735	3,030	-9.7	2,660
Other exposures, € million	5,389	5,558	-3.1	5,238
Deposits, € million	16,031	13,258	20.9	17,155
Ratio of non-performing exposures to exposures, %	1.6	2.2	-0.6*	1.8
Ratio of impairment loss on receivables to loan and guarantee portfolio, %	0.02	0.16	-0.14*	0.00

* Change in ratio, percentage point(s).
Comparatives for the income statement items are based on the corresponding figures in 2024. Unless otherwise specified, figures from 31 December 2024 are used as comparatives for balance-sheet and other cross-sectional items.

Decisions by OP Corporate Bank plc’s Annual General Meeting

On 13 March 2025, the Annual General Meeting (AGM) of OP Corporate Bank plc re-elected OP Financial Group’s President and Group Chief Executive Officer Timo Ritakallio as Chair of OP Corporate Bank’s Board of Directors. As other Board members, the AGM elected OP Uusimaa Managing Director Olli Lehtilä, OP Turun Seutu Managing Director Petteri Rinne, OP Financial Group’s Chief Financial Officer Mikko Timonen and OP Financial Group’s Chief People and Culture Officer Hannakaisa Länsisalmi. As new board member to replace Mikko Vepsäläinen, OP Häme Managing Director Mika Kivimäki was elected.

The AGM elected PricewaterhouseCoopers Oy, an audit firm, to act as OP Corporate Bank’s auditor for the financial year 2025. Lauri Kallaskari, Authorised Public Accountant, acts as the chief auditor appointed by PricewaterhouseCoopers Oy.

The AGM of 13 March 2025 adopted the Financial Statements for 2024 and discharged members of the Board of Directors and the CEO from liability. The AGM decided that dividends to be distributed total EUR 112,000,000.00, or EUR 0.35 per share, and that following dividend distribution, the remaining amount of EUR 260,323,566.01 be recognised in the retained earnings account. Following dividend distribution, the company’s distributable earnings total EUR 3,309,605,085.96 and its distributable funds total EUR 3,640,985,923.02.

Outlook

A full-year earnings estimate for 2025 will only be provided at Group level, in OP Financial Group’s financial statements bulletin and in its interim and half-year financial reports.

The most significant uncertainties affecting OP Corporate Bank’s earnings performance relate to developments in the business environment, changes in the interest rate and investment environment, and developments in impairment loss on receivables. In addition, future earnings performance will be affected by the market growth rate and the change in the competitive situation.

Forward-looking statements in this Interim Report expressing the management’s expectations, beliefs, estimates, forecasts, projections and assumptions are based on the current view of the future development in the business environment and the future financial performance of OP Corporate Bank plc’s and its various functions, and actual results may differ materially from those expressed in the forward-looking statements.

Schedule for 2025 Interim Reports and Half-year Financial Report:

Half-year Financial Report 1 January–30 June 2025	30 July 2025
Interim Report 1 January–30 September 2025	28 October 2025

Helsinki, 7 May 2025

OP Corporate Bank plc
Board of Directors

For additional information, please contact:

Katja Keitaanniemi, Chief Executive Officer, tel. +358 10 252 1387
Piia Kumpulainen, Chief Communications Officer, tel. +358 10 252 7317

DISTRIBUTION
Nasdaq Helsinki Oy
Euronext Dublin (Irish Stock Exchange)
LSE London Stock Exchange
Major media
op.fi

OP Corporate Bank plc is part of OP Financial Group. OP Corporate Bank and OP Mortgage Bank are responsible for OP’s funding in money and capital markets. As laid down in the applicable law, OP Corporate Bank, OP Mortgage Bank and their parent company OP Cooperative and other OP Financial Group member credit institutions are ultimately jointly and severally liable for each other’s debts and commitments. OP Corporate Bank acts as OP Financial Group’s central bank.

The MIL Network –

May 7, 2025

MIL-OSI: VAALCO Energy, Inc. Provides Additional Information Regarding Its Capital Markets Day Planned for May 14, 2025

Source: GlobeNewswire (MIL-OSI)

HOUSTON, May 07, 2025 (GLOBE NEWSWIRE) — Vaalco Energy, Inc. (NYSE: EGY; LSE: EGY) (“Vaalco” or the “Company”) today provided additional details regarding its Capital Markets Day presentation on Wednesday, May 14, 2025. The presentation will begin at 8 a.m. Central Time (2 p.m. London Time) and is expected to conclude by around 10:00 a.m. Central Time (4 p.m. London Time).

Participation in the Capital Markets Day is directed to Vaalco’s shareholders, buy side and sell side analysts, as well as large institutional investors and portfolio managers. The session will be webcast live along with related presentation materials, and the webcast will allow for questions to be asked of the management team.

Interested investors may sign up for the webcast using the link that is now available on Vaalco’s web site at www.vaalco.com in the “Investors” section of the web site under upcoming events, or use this link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=nvILiLZm. A replay will be archived on the site shortly after the presentation concludes.

The agenda will include presentations by key members of management on topics including:

A technical deep dive into Vaalco’s diverse portfolio;
Updates on the Company’s major investment projects;
Outlining projected finance and capital management strategy for execution of the Company’s longer-term vision; and
Additional insight into Vaalco’s strategy over the next three to five years.

About Vaalco
Vaalco, founded in 1985 and incorporated under the laws of Delaware, is a Houston, Texas, USA based, independent energy company with a diverse portfolio of production, development and exploration assets across Gabon, Egypt, Côte d’Ivoire, Equatorial Guinea, Nigeria and Canada.

For Further Information

Vaalco Energy, Inc. (General and Investor Enquiries)	+00 1 713 543 3422
Website:	www.vaalco.com

Al Petrie Advisors (US Investor Relations)	+00 1 713 543 3422
Al Petrie / Chris Delange

Burson Buchanan (UK Financial PR)	+44 (0) 207 466 5000
Ben Romney / Barry Archer	Vaalco@buchanan.uk.com

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created by those laws and other applicable laws and may also include “forward-looking information” within the meaning of applicable Canadian securities law (collectively “forward-looking statements”). Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. All statements other than statements of historical fact may be forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “forecast,” “outlook,” “aim,” “target,” “will,” “could,” “should,” “may,” “likely,” “plan” and “probably” or similar words may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release may include, but are not limited to, statements relating to (i) estimates of future drilling, production, sales and costs of acquiring crude oil, natural gas and natural gas liquids; (ii) expectations regarding Vaalco’s ability to effectively integrate assets and properties it has acquired as a result of the Svenska acquisition into its operations; (iii) expectations regarding future exploration and the development, growth and potential of Vaalco’s operations, project pipeline and investments, and schedule and anticipated benefits to be derived therefrom; (iv) expectations regarding future acquisitions, investments or divestitures; (v) expectations of future dividends; (vi) expectations of future balance sheet strength; and (vii) expectations of future equity and enterprise value.

Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to: risks relating to any unforeseen liabilities of Vaalco; the ability to generate cash flows that, along with cash on hand, will be sufficient to support operations and cash requirements; risks relating to the timing and costs of completion for scheduled maintenance of the FPSO servicing the Baobab field; and the risks described under the caption “Risk Factors” in Vaalco’s 2024 Annual Report on Form 10-K filed with the SEC on March 17, 2025 and subsequent Quarterly Reports on Form 10-Q filed with the SEC.

The MIL Network –

May 7, 2025

MIL-OSI: Sydbank’s Interim Report – Q1 2025
Source: GlobeNewswire (MIL-OSI)

Company Announcement No 20/2025
7 May 2025

Sydbank’s Interim Report – Q1 2025

Q1 2025 – highlights
- Profit for the period of DKK 645m equals a return on equity of 17.4% p.a. after tax
- Core income of DKK 1,700m is 8% lower compared to the same period in 2024
- Trading income of DKK 64m compared to DKK 89m in the same period in 2024
- Costs (core earnings) of DKK 881m compared to DKK 831m in the same period in 2024
- Core earnings before impairment of DKK 883m are 20% lower compared to the same period in 2024
- Impairment charges for loans and advances etc represent an expense of DKK 35m
- Bank loans and advances have gone down by DKK 1.2bn, equal to a decrease of 2% compared to year-end 2024
- The CET1 ratio stands at 16.3%, equal to a decline of 1.5pp compared to year-end 2024
CEO Mark Luscombe comments on the result:
- It is positive that we have been able to generate a return on equity of 17.4% under market conditions characterised by uncertainty. In the current environment many of our customers have chosen to remain financially flexible where retail clients focus on savings and corporate clients strengthen their balance sheets and consequently postpone major financial decisions. Inflation and interest rates continue to go down, which should support an increase in lending and investment activities once confidence has been restored. Therefore lending is down, deposits are up and assets under management continue to show a net increase.
Board chairman Ellen Trane Nørby elaborates:
- It is positive that profit for Q1 2025 is as expected at the beginning of Q1 2025 despite the ECB and Danish central bank rate cuts occurring at a faster pace than anticipated. Against this background the result must be considered quite satisfactory.
Mark Luscombe comments on the beginning of the new strategy period:
- The themes in our new strategy “Bigger Sydbank” will guide us and ensure that we can meet the strategy’s goals. We will focus on the customer and be the workplace for some of our industry’s most talented and dedicated employees. Our consistent customer focus is having the intended effect as customer satisfaction is going up and every segment is welcoming new customers.
Board chairman Ellen Trane Nørby comments:
- In times of trade conflicts and geopolitical uncertainty it is particularly important that Sydbank is well prepared to navigate this uncertainty and support its customers. It is gratifying to note that after initiating the share buyback of DKK 1,350m the Bank remains highly capitalised and resilient.
Outlook for 2025
- Moderate growth is projected for the Danish economy.
- Profit after tax is expected to be in the range of DKK 2,200-2,600m.
- The profit forecast assumes that the Danish central bank will lower the interest rate by 1pp in 2025.
- The outlook is subject to uncertainty and depends on financial market developments and macroeconomic factors which may affect eg the level of impairment charges.
Additional information
Jørn Adam Møller, Deputy Group Chief Executive, Tel +45 74 37 20 30
Lars Grubak Lohff, Press Manager Tel +45 20 31 54 65

Attachments
- SM 20 UK
- Interim Report Q1 2025
The MIL Network –
May 7, 2025
MIL-OSI: Karolinska Development’s portfolio company Umecrine Cognition presents data validating novel clinical scale in PBC at EASL 2025
Source: GlobeNewswire (MIL-OSI)

STOCKHOLM, SWEDEN – May 7, 2025. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company Umecrine Cognition will attend the EASL Congress 2025 in Amsterdam, May 7–10, to present validation and implementation data for the newly developed clinical scale for Primary Biliary Cholangitis, PBC.

Umecrine Cognition is developing a new class of drugs to alleviate cognitive symptoms caused by liver disease. The company’s drug candidate golexanolone is currently being evaluated in a clinical Phase 2a study in PBC. At EASL 2025 (European Association for the Study of the Liver), Umecrine Cognition will present validation and implementation data for the newly developed clinical scale CGI-S-PBC™ (Clinical Global Impression of Severity Scale for Primary Biliary Cholangitis), which was partly developed by the company and is currently being used in the ongoing clinical trial with golexanolone.

The scale was designed to evaluate symptom severity in PBC patients that cannot be measured by conventional laboratory tests. The newly developed CGI-S-PBC™ scale is a more objective, anchor-based clinical outcome scale that expands on the patient-reported outcome measure PBC-40, and the validation and implementation were recently documented in two separate studies along with the current use in the clinical Phase 2a trial.

Abstracts summarizing the validation and implementation of CGI-S-PBC™ will be presented at the on-site paper poster session “Immune-mediated and cholestatic disease: Clinical aspects” on Thursday, May 8, with the title: “Validation of the clinical global impression severity scale for primary biliary cholangitis: a clinical trials outcome tool,” and “Implementation of a clinical global impression severity scale for primary biliary cholangitis: results of a hepatologist focused training program”.

Karolinska Development’s ownership in Umecrine Cognition amounts to 73%.

For further information, please contact:

Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com

Johan Dighed, General Counsel and Deputy CEO, Karolinska Development AB
Phone: +46 70 207 48 26, e-mail: johan.dighed@karolinskadevelopment.com

TO THE EDITORS

About Karolinska Development AB

Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying breakthrough medical innovations in the Nordic region that are developed by entrepreneurs and leadership teams. The company invests in the creation and growth of companies that advance these assets into commercial products that are designed to make a difference to patient’s lives while providing an attractive return on investment to shareholders.

Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success.

Karolinska Development has a portfolio of eleven companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.

The company is led by an entrepreneurial team of investment professionals with a proven track record as company builders and with access to a strong global network.

For more information, please visit www.karolinskadevelopment.com.

Attachment
- KD Umecrine Cognition EASL eng
The MIL Network –
May 7, 2025
MIL-OSI: Intchains Group Limited to Report Unaudited First Quarter 2025 Financial Results on Thursday, May 22, 2025

Source: GlobeNewswire (MIL-OSI)

SINGAPORE, May 07, 2025 (GLOBE NEWSWIRE) — Intchains Group Limited (Nasdaq: ICG) (“we,” or the “Company”), a company that engages in the provision of altcoin mining products, the strategic acquisition and holding of Ethereum-based cryptocurrencies, and the active development of innovative Web3 applications, today announced that it will release its unaudited financial results for the first quarter of 2025 ended March 31, 2025.

Conference Call Information

The Company’s management team will host an earnings conference call to discuss its financial results at 8:00 PM U.S. Eastern Time on May 22, 2025 (8:00 AM Beijing Time on May 23, 2025). Details for the conference call are as follows:

All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of dial-in numbers and a personal access PIN, which will be used to join the conference call.

Additionally, a live and archived webcast of the conference call will also be available at the Company’s IR website at https://ir.intchains.com/.

About Intchains Group Limited

Intchains Group Limited is a company that engages in the provision of altcoin mining products, the strategic acquisition and holding of Ethereum-based cryptocurrencies, and the active development of innovative Web3 applications. For more information, please visit the Company’s website at: https://intchains.com/.

For investor and media inquiries, please contact:

Intchains Group Limited

Investor relations
Email: ir@intchains.com

Redhill

Belinda Chan
Tel: +852-9379-3045
Email: belinda.chan@creativegp.com

The MIL Network –

May 7, 2025
MIL-OSI Economics: Euro area bank interest rate statistics: March 2025
Source: European Central Bank

6 May 2025

Bank interest rates for corporations

Chart 1

Bank interest rates on new loans to, and deposits from, euro area corporations

(percentages per annum)

Data for cost of borrowing and deposit interest rates for corporations (Chart 1)

The composite cost-of-borrowing indicator, which combines interest rates on all loans to corporations, decreased in March 2025. The interest rate on new loans of over €1 million with a floating rate and an initial rate fixation period of up to three months decreased by 31 basis points to 3.67%. The rate on new loans of the same size with an initial rate fixation period of over three months and up to one year stayed almost constant at 3.78%. The interest rate on new loans of over €1 million with an initial rate fixation period of over ten years increased by 13 basis points to 3.57%. In the case of new loans of up to €250,000 with a floating rate and an initial rate fixation period of up to three months, the average rate charged fell by 35 basis points to 4.02%.
As regards new deposit agreements, the interest rate on deposits from corporations with an agreed maturity of up to one year fell by 18 basis points to 2.32% in March 2025. The interest rate on overnight deposits from corporations fell by 5 basis points to 0.67%.
The interest rate on new loans to sole proprietors and unincorporated partnerships with a floating rate and an initial rate fixation period of up to one year decreased by 19 basis points to 4.36%.

Table 1

Bank interest rates for corporations

i.r.f. = initial rate fixation
* For this instrument category, the concept of new business is extended to the whole outstanding amounts and therefore the business volumes are not comparable with those of the other categories. Outstanding amounts data are derived from the ECB’s monetary financial institutions balance sheet statistics.

Data for bank interest rates for corporations (Table 1)

Bank interest rates for households

Chart 2

Bank interest rates on new loans to, and deposits from, euro area households

Data for cost of borrowing and deposit interest rate for households (Chart 2)

The composite cost-of-borrowing indicator, which combines interest rates on all loans to households for house purchase, remained broadly unchanged in March 2025. The interest rate on loans for house purchase with a floating rate and an initial rate fixation period of up to one year decreased by 8 basis points to 3.92%. The rate on housing loans with an initial rate fixation period of over one and up to five years stayed almost constant at 3.51%. The interest rate on loans for house purchase with an initial rate fixation period of over five and up to ten years remained broadly unchanged at 3.36%. The rate on housing loans with an initial rate fixation period of over ten years stayed almost constant at 3.10%. In the same period the interest rate on new loans to households for consumption decreased by 7 basis points to 7.52%.
As regards new deposits from households, the interest rate on deposits with an agreed maturity of up to one year decreased by 10 basis points to 2.09%. The rate on deposits redeemable at three months’ notice stayed almost constant at 1.50%. The interest rate on overnight deposits from households remained broadly unchanged at 0.31%.

Table 2

Bank interest rates for households

i.r.f. = initial rate fixation
* For this instrument category, the concept of new business is extended to the whole outstanding amounts and therefore the business volumes are not comparable with those of the other categories; deposits placed by households and corporations are allocated to the household sector. Outstanding amounts data are derived from the ECB’s monetary financial institutions balance sheet statistics.
** For this instrument category, the concept of new business is extended to the whole outstanding amounts and therefore the business volumes are not comparable with those of the other categories. Outstanding amounts data are derived from the ECB’s monetary financial institutions balance sheet statistics.

Data for bank interest rates for households (Table 2)

Further information

The data in Tables 1 and 2 can be visualised for individual euro area countries on the bank interest rate statistics dashboard. Additionally, tables containing further breakdowns of bank interest rate statistics, including the composite cost-of-borrowing indicators for all euro area countries, are available from the ECB Data Portal. The full set of bank interest rate statistics for both the euro area and individual countries can be downloaded from ECB Data Portal. More information, including the release calendar, is available under “Bank interest rates” in the statistics section of the ECB’s website.

For media queries, please contact Nicos Keranis, tel.: +49 69 1344 7806

Notes:
- In this press release “corporations” refers to non-financial corporations (sector S.11 in the European System of Accounts 2010, or ESA 2010), “households” refers to households and non-profit institutions serving households (ESA 2010 sectors S.14 and S.15) and “banks” refers to monetary financial institutions except central banks and money market funds (ESA 2010 sector S.122).
- The composite cost-of-borrowing indicators are described in the article entitled “Assessing the retail bank interest rate pass-through in the euro area at times of financial fragmentation” in the August 2013 issue of the ECB’s Monthly Bulletin (see Box 1). For these indicators, a weighting scheme based on the 24-month moving averages of new business volumes has been applied, in order to filter out excessive monthly volatility. For this reason the developments in the composite cost of borrowing indicators in both tables cannot be explained by the month-on-month changes in the displayed subcomponents. Furthermore, the table on bank interest rates for corporations presents a subset of the series used in the calculation of the cost of borrowing indicator.
- Interest rates on new business are weighted by the size of the individual agreements. This is done both by the reporting agents and when the national and euro area averages are computed. Thus changes in average euro area interest rates for new business reflect, in addition to changes in interest rates, changes in the weights of individual countries’ new business for the instrument categories concerned. The “interest rate effect” and the “weight effect” presented in this press release are derived from the Bennet index, which allows month-on-month developments in euro area aggregate rates resulting from changes in individual country rates (the “interest rate effect”) to be disentangled from those caused by changes in the weights of individual countries’ contributions (the “weight effect”). Owing to rounding, the combined “interest rate effect” and the “weight effect” may not add up to the month-on-month developments in euro area aggregate rates.
- In addition to monthly euro area bank interest rate statistics for March 2025, this press release incorporates revisions to data for previous periods. Hyperlinks in the main body of the press release lead to data that may change with subsequent releases as a result of revisions. Unless otherwise indicated, these euro area statistics cover the EU Member States that had adopted the euro at the time to which the data relate.
- As of reference period December 2014, the sector classification applied to bank interest rates statistics is based on the European System of Accounts 2010 (ESA 2010). In accordance with the ESA 2010 classification and as opposed to ESA 95, the non-financial corporations sector (S.11) now excludes holding companies not engaged in management and similar captive financial institutions.
MIL OSI Economics –
May 7, 2025

MIL-OSI Economics: Money Market Operations as on May 06, 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)	6,12,824.24	5.75	2.50-6.85
I. Call Money	18,781.54	5.84	4.95-5.95
II. Triparty Repo	3,86,686.15	5.75	5.60-5.85
III. Market Repo	2,05,367.55	5.73	2.50-6.12
IV. Repo in Corporate Bond	1,989.00	6.05	6.00-6.85
B. Term Segment
I. Notice Money**	138.00	5.74	5.50-5.90
II. Term Money^@@	1,129.95	–	5.80-6.20
III. Triparty Repo	9,272.00	5.88	5.80-5.90
IV. Market Repo	0.00	–	–
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	Tue, 06/05/2025	1	Wed, 07/05/2025	6,428.00	6.01
(b) Reverse Repo
(III) Long Term Operations^{^}
(a) Repo
(b) Reverse Repo
3. MSF^#	Tue, 06/05/2025	1	Wed, 07/05/2025	161.00	6.25
4. SDF^Δ#	Tue, 06/05/2025	1	Wed, 07/05/2025	1,78,561.00	5.75
5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*				-1,71,972.00
II. Outstanding Operations
1. Fixed Rate
2. Variable Rate^&
(I) Main Operation
(a) Repo	Fri, 02/05/2025	14	Fri, 16/05/2025	149.00	6.01
(b) Reverse Repo
(II) Fine Tuning Operations
(a) Repo
(b) Reverse Repo
(III) Long Term Operations^{^}
(a) Repo	Thu, 17/04/2025	43	Fri, 30/05/2025	25,731.00	6.01
(b) Reverse Repo
3. MSF^#
4. SDF^Δ#
D. Standing Liquidity Facility (SLF) Availed from RBI^$				8,709.21
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*				34,589.21
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*				-1,37,382.79
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on		May 06, 2025		9,61,365.89
(ii) Average daily cash reserve requirement for the fortnight ending		May 16, 2025		9,41,653.00
H. Government of India Surplus Cash Balance Reckoned for Auction as on^¥		May 06, 2025		6,428.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on		April 18, 2025		2,02,749.00
^@ 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.
^& As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
^Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
* Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
^¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
^# As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
^{^} As per the Press Release No. 2025-2026/91 dated April 11, 2025.
Ajit Prasad Deputy General Manager (Communications)
Press Release: 2025-2026/269

MIL OSI Economics –

May 7, 2025

MIL-OSI Economics: Microsoft and FFA help students use smart sensors and AI to learn about the future of farming

Source: Microsoft

Headline: Microsoft and FFA help students use smart sensors and AI to learn about the future of farming

Partnership expands FarmBeats for Students program to all 50 states to help grow next generation of farmers

REDMOND, Wash. — May 6, 2025 — Microsoft Corp. and the National FFA Organization on Tuesday announced the national expansion of FarmBeats for Students, a cutting-edge educational program integrating smart sensors, data science and artificial intelligence (AI) to teach precision agriculture in classrooms. Starting today, FFA teachers and students throughout the United States, including FFA chapters in 185 middle and high schools, will receive a classroom set of FarmBeats for Students kits free of charge. The kits include ready-to-use sensor systems along with curriculum for teachers and are designed for classrooms of all kinds; no prior technical experience is required.

More and more farmers are adopting advanced technology, including automating systems such as tractors and harvesters and using drones and data analysis to intervene early against pests and disease, to maximize crop yield, optimize resource usage, and adjust to changing weather patterns. Gaining hands-on experience with machine automation, data science and AI will help American agricultural students remain competitive in the global market.

Using the FarmBeats for Students kits and free curriculum, students build environmental sensor systems and use AI to monitor soil moisture and detect nutrient deficiencies — allowing them to understand what is happening with their plants and make data-driven decisions in real time. Students can adapt the kit to challenges unique to their region — such as drought, frost and pests — providing them with practical experience in tackling real-world issues in their hometowns.

“Microsoft is committed to ensuring students and teachers have the tools they need to succeed in today’s tech-driven world, and that includes giving students hands-on experience with precision farming, data science and AI,” said Mary Snapp, Microsoft vice president, Strategic Initiatives. “By teaming up with FFA to bring FarmBeats for Students to students across the country, we hope to inspire the next generation of agriculture leaders and equip them with the skills to tackle any and all challenges as they guide us into the future.”

“Our partnership with Microsoft exemplifies the power of collaboration in addressing industry needs while fostering personal and professional growth among students,” said Christine White, chief program officer, National FFA Organization. “Supporting agricultural education and leadership development is crucial for shaping the next generation of innovators and problem solvers. Programs like this equip students with technical knowledge, confidence and adaptability to thrive in diverse and evolving industries. Investing in these young minds today sets the stage for a more sustainable, innovative and resilient agricultural future.”

In addition, teachers, students or parents interested in FarmBeats for Students can purchase a kit for $35 at this link and receive free training at Microsoft Learn.

Any educator interested in implementing the FarmBeats for Students program can now access a new, free comprehensive course on the Microsoft Educator Learn Center, providing training on precision agriculture, data science and AI, allowing teachers to earn professional development hours and badges.

FarmBeats for Students was co-developed by Microsoft, FFA and agriculture educators. The program aligns with the AI for K-12 initiative guidelines; Agriculture, Food and Natural Resources career standards; Computer Science Teachers Association standards; and Common Core math standards.

For more information about FarmBeats for Students, visit aka.ms/FBFS.

About National FFA Organization

The National FFA Organization is a school-based national youth leadership development organization of more than 1,027,200 student members as part of 9,235 local FFA chapters in all 50 states, Puerto Rico and the U.S. Virgin Islands. The FFA mission is to make a positive difference in the lives of students by developing their potential for premier leadership, personal growth and career success through agricultural education.

About Microsoft

Microsoft (Nasdaq “MSFT” @microsoft) creates platforms and tools powered by AI to deliver innovative solutions that meet the evolving needs of our customers. The technology company is committed to making AI available broadly and doing so responsibly, with a mission to empower every person and every organization on the planet to achieve more.

For more information, press only:

Microsoft Media Relations, We. Communications, (425) 638-7777, [email protected]

Note to editors: For more information, news and perspectives from Microsoft, please visit Microsoft Source at https://news.microsoft.com/source. Web links, telephone numbers and titles were correct at time of publication but may have changed. For additional assistance, journalists and analysts may contact Microsoft’s Rapid Response Team or other appropriate contacts listed at https://news.microsoft.com/microsoft-public-relations-contacts.

MIL OSI Economics –

May 7, 2025

MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on May 07, 2025

Source: Reserve Bank of India

Tenor	1-day
Notified Amount (in ₹ crore)	25,000
Total amount of bids received (in ₹ crore)	5,192
Amount allotted (in ₹ crore)	5,192
Cut off Rate (%)	6.01
Weighted Average Rate (%)	6.01
Partial Allotment Percentage of bids received at cut off rate (%)	NA

Ajit Prasad
Deputy General Manager
(Communications)

Press Release: 2025-2026/270

MIL OSI Economics –

May 7, 2025

MIL-OSI Economics: Survey of Professional Forecasters: Release of Individual respondent-level (anonymised) data and Time series of aggregated data

Source: Reserve Bank of India

The Reserve Bank of India has been conducting Survey of Professional Forecasters (SPF) since September 2007 and consolidated results have been regularly disseminated on the Bank’s website in the form of web-articles. To promote transparency and research initiatives, Reserve Bank of India will now start disseminating the individual respondent-level forecasts from recent rounds of SPF (from round 61 onwards) after anonymising the forecasters’ personally identifiable information¹.

The individual respondent-level data for the survey along with its metadata are available on the Bank’s ‘Database on Indian Economy (DBIE)’ portal (https://data.rbi.org.in/DBIE/#/dbie/home) under the head Survey of Professional Forecasters (SPF), in the ‘Unit-level Data’ tab.

To further improve data accessibility and promote research, the aggregated/consolidated SPF data, as published in the web-articles, are also being released in a time series format along with its metadata under the ‘Surveys-Aggregated Data’ section in the ‘Statistics’ tab under the head ‘Survey of Professional Forecasters’ through DBIE.

Ajit Prasad
Deputy General Manager
(Communications)

Press Release: 2025-2026/271

MIL OSI Economics –

May 7, 2025

MIL-OSI Economics: Samsung Solve for Tomorrow Introduces Global Themes To Unite Student Innovators Worldwide

Source: Samsung

Samsung Electronics is unveiling global themes for its youth innovation program Samsung Solve for Tomorrow in a bold step to empower young people around the world to solve challenges together and drive positive social change.

Sustainability and Social Change Explored by Youth Around the World
Launched in the United States in 2010, Solve for Tomorrow is a STEM (science, technology, engineering and math) education competition that has reached more than 2.9 million students across 68 countries over the past 15 years. The program encourages students to propose creative solutions to social issues in their local communities, helping them build essential critical thinking and problem-solving skills.

Starting in 2025 with the introduction of global themes, Solve for Tomorrow will go one step further to evolve into a platform for youth to collaborate and address universal problems that transcend local boundaries.

This year’s global themes are “Environmental Sustainability via Technology” and “Social Change through Sport & Technology with International Olympic Committee.”

“Environmental issues are among the most difficult challenges facing humanity today,” said Soojin Kim, Head of the Corporate Sustainability Center at Samsung Electronics. “We are pleased to join youth around the world on this journey to overcome these issues with technology.”

▲ A poster celebrating the 15th anniversary of Solve for Tomorrow and introducing the global themes

Global Themes Selected Through ‘Together for Tomorrow’ Olympic Partnership
As the Worldwide smartphone Partner of the Olympic and Paralympic Games last year, IOC and Samsung partnered to launch ‘Together for Tomorrow, Enabling People’ — a digital community created to complement Solve for Tomorrow. The platform aims to engage young people from across the globe with the Olympic Movement and harness the transformative power of technology and sport to drive meaningful change.

During the Olympic Games Paris 2024, 10 students from the winning teams of the previous year’s Solve for Tomorrow program served as ambassadors for “Together for Tomorrow, Enabling People.”

The theme “Social Change Through Sport & Technology” was voted on by the public in the Together for Tomorrow, Enabling People community. Samsung and IOC plan to appoint individuals who exemplify this theme as global ambassadors and collaborate with them to develop solutions.

“We are delighted to work with our Worldwide Olympic Partner Samsung on the creation of this new sport-driven theme,” said Ollie Dudfield, Associate Director of Olympism 365 at IOC. “It’s an exciting step forward in line with the ambitions of IOC’s Olympism 365 strategy — empowering young people around the world to think boldly about how sport and technology can drive positive change.’’

Leveraging Samsung’s Expertise To Strengthen Support for Participants
Samsung is leveraging its unique resources and expertise to strengthen Solve for Tomorrow. By integrating the Samsung Design Thinking methodology into the program, the company hopes to encourage the development of practical, user-centered solutions. Samsung also plans to expand employee mentoring to help participants further refine their ideas with guidance from experts with real-world experience.

IOC Young Leaders Programme will also have a role to play in helping students understand how sport and technology can mix to generate innovative solutions to social challenges. “Through Samsung Solve for Tomorrow, I’ve learned that even a small idea can spark big change,” said Solve for Tomorrow US ambassador Ngan Huu Kim Le.

“Working alongside friends from around the world motivates me to keep seeking creative solutions for a better future.”

Solve for Tomorrow 2025 recently kicked off in Vietnam and India, and will soon be launched in Indonesia, Türkiye, Singapore and other countries. Spanning months from the qualifiers to the finals, the program will award winning teams, depending on the country, with project incubation funding and support for establishing STEM labs.

“Samsung Solve for Tomorrow has been Samsung’s flagship corporate citizenship initiative for the past 15 years,” said Eddie Cho, Executive Vice President and Head of Corporate Citizenship Office at Samsung Electronics. “We look forward to strengthening the role of the global platform to nurture even more young people into the leaders of tomorrow.”

▲ The 15th annual Samsung Solve for Tomorrow U.S. Pitch & Reveal Event took place in Samsung DC on April 28. (From left) U.S. National Winner Charter School of Wilmington from Delaware with Yoonie Joung, President of Samsung Electronics North America; Solve for Tomorrow U.S. ambassador Ngan Huu Kim Le

▲ The India Opening Ceremony took place in IIT Delhi on April 29. (From left) Shubham Mukherjee, Head of CSR & Corp Communication, Samsung SWA; Abhishek Singh, Additional Secretary, Ministry of Electronics & IT; JB Park, President & CEO, Samsung SWA; Shombi Sharp, United Nations Resident Coordinator in India; Prof. Rangan Banerjee, Director, IIT Delhi; Dr. Sapna Poti, Senior Director, Office of Principal Scientific Advisor to the Government

▲ The opening ceremony of Solve for Tomorrow 2025 Vietnam was held in Hanoi on March 28

MIL OSI Economics –

May 7, 2025
MIL-OSI Economics: Samsung Unveils Vision AI for Neo QLED, OLED, QLED and The Frame TVs, Bringing Intelligent, Immersive & Adaptive Screens to Indian Consumers

Source: Samsung

Samsung, India’s largest consumer electronics brand, today announced the launch of its ultra-premium 2025 models of Neo QLED 8K, Neo QLED 4K, OLED, QLED TVs and The Frame lineup, bringing the revolutionary Samsung Vision AI technology to Indian consumers. At the heart of this launch is the new Samsung Vision AI that delivers an unparalleled home entertainment experience with next-generation AI capabilities. Staying true to its commitment to innovation, Samsung’s latest range redefines how users interact with screens, turning them into intelligent companions that enrich everyday living.

Samsung Vision AI – a cutting-edge technology framework – pairs AI-enhanced picture and sound for maximum performance with personalized experience. Samsung Vision AI is built on three pillars.

AI Mode optimizes picture quality and sound in real time by using advanced deep-learning algorithms that adapt to both content and ambient surroundings, ensuring stunning visuals and immersive audio every time.
AI Experience personalizes content discovery and settings by learning user preferences over time, delivering a smarter, more intuitive interaction.
Multi-Device Connectivity seamlessly connects the TV with smartphones, tablets, and other smart devices, enabling effortless content sharing, control, and continuity across the Samsung ecosystem.

“The role of the television in Indian homes has evolved – it’s no longer just about watching content, but about enabling connected, intelligent lifestyles. With the introduction of Samsung Vision AI across our widest-ever premium lineup, we are delivering a future-ready TV experience that goes beyond stunning visuals. Samsung Vision AI ushers in a truly personalized, AI-powered screen experience, where the viewer is more important than what’s being viewed. We are calling this shift ‘It’s Your Show’ – an experience where users are in complete control, with the TV adapting to their unique preferences, habits, and ecosystem. Our new AI TV lineup breathes new life into every frame, setting a new benchmark for cinematic excellence at home. With this new era of AI-powered screens, we are confident of accelerating next-generation TV adoption and strengthening our leadership in India’s premium television segment,” said Viplesh Dang, Senior Director, Visual Display Business, Samsung India.

Samsung Vision AI: Powering a New Generation of Smart, Personalized Entertainment Experiences

Samsung Vision AI represents a major leap in making screens smarter, more intuitive and deeply personal. It transforms televisions into adaptive hubs, responsive to their environment and user behaviours. They seamlessly blend into everyday life, making the TV an intelligent partner rather than just a display.

Several features come together to redefine the big screen experience-

Universal Gesture Control allows users to effortlessly navigate their Samsung Smart AI TV using simple hand movements, eliminating the need for a remote. This feature utilizes AI technology, and a connected Galaxy Watch to recognize gestures, allowing for intuitive control over various TV functions.

AI Upscaling Pro elevates lower-resolution content to near-8K quality, ensuring every detail is crystal clear. Powered by Samsung’s NQ8 AI Gen3 Processor, this feature sharpens images and enhances clarity, delivering a vivid and lifelike viewing experience.

Generative Wallpaper transforms idle screens into dynamic, personalized art canvases, creating visuals that match moods or occasions. Leveraging AI, this feature generates unique 4K images, allowing users to personalize their viewing experience with custom artwork.

Multi-Device connectivity keeps users updated about their living environment with real-time alerts and energy monitoring. Integrated with SmartThings, it provides real-time summaries of the home’s status and suggests necessary actions, enhancing peace of mind whether users are at home or away.

Pet and Family Care Mode provides peace of mind by detecting unusual activities of pets or family members and by automatically adjusting home settings for added comfort. Utilizing on-device AI, it can detect events such as a dog barking or a baby crying, alerting users when attention is needed.

Samsung’s Most Advanced AI-Powered Neo QLED 8K TV Redefines Visual Display Technology
Leading the 2025 AI TV lineup is the flagship Neo QLED 8K QN950F, designed to deliver the pinnacle of TV innovation. Powered by the advanced NQ8 AI Gen3 Processor, which employs 768 AI neural networks, this TV brings breakthrough features to life. Ensuring an exceptional viewing experience with crisp details, regardless of the input source, it is encased in an ultra-slim, minimalist Infinity Air design. The Neo QLED 8K QN950F is an object of beauty and a technological prowess, offering a truly immersive and sophisticated cinematic visual display.

The 8K AI Upscaling Pro feature intelligently analyzes and enhances any content to 8K quality, preserving details and textures with remarkable accuracy.

The Glare-Free technology ensures distraction-free viewing even in brightly lit spaces, reducing reflections without compromising colour or contrast.
Q-Symphony and Dolby Atmos combine to deliver a deeply immersive, multidimensional audio experience by perfectly synchronizing the TV speakers with compatible Samsung soundbars.
The ultra-fast 240Hz refresh rate ensures fluid motion and razor-sharp visuals, ideal for high-speed action, sports, and next-gen gaming.

AI Mode intelligently optimizes picture and sound based on content type and surroundings, delivering a customized viewing experience.’

The Neo QLED 8K is available in sizes of 85, 75, and 65 inches.

Lineup for All Entertainment Needs: Neo QLED 4K
The QN90F, QN85F, QN80F and QN70F models headline the Neo QLED 4K lineup. The QN90F features Quantum Matrix Technology Plus with 128 Neural Networks, Motion Xcelerator 165Hz, Glare-Free viewing and a powerful 60W 4.2.2 channel speaker system with Dolby Atmos and Q-Symphony for a cinematic audio-visual experience and Samsung’s signature Neo Slim design with Art Store and Generative Wallpaper support.

Samsung’s 2025 OLED TVs push performance further with NQ4 AI Gen3 Processor supported by 128 Neural Networks, Motion Xcelerator 165Hz, Glare-Free Viewing, and AI Motion Enhancer Pro for exceptional clarity in fast-moving scenes. These models support 100% Color Volume, are PANTONE Validated, and feature a minimalist Infinity One design with Attachable Slim One Connect to reduce clutter.

Samsung has also curated localized Smart Experiences for Indian consumers to include a range of services like gaming, entertainment, education and fitness.’

Cloud Gaming Service enables users to experience AAA games with Plug and Play – with no console or PC required.

Samsung Education Hub helps users to experience Big Screen Learning with live classes, making learning for your kids more interactive and immersive.

TV Key service upscales consumers as there is no requirement for a set-top box as it enables direct transmission of content through the cloud.

Samsung TV Plus provides 125+ national and international channels absolutely free with instant access to news, movies, entertainment and more.

The 2025 Samsung AI TVs come equipped with a built-in SmartThings hub, transforming the television into a central command centre for connected living. This integration allows users to effortlessly connect and control a wide array of smart devices. Additionally, SmartThings Energy offers insights into energy consumption patterns, promoting efficient energy use throughout the home. The platform’s ambient sensing capabilities analyse human movements and environmental sounds, allowing the system to adapt settings such as lighting and temperature to suit daily routines, thereby enhancing comfort and convenience.

Fortified with Samsung Knox, a comprehensive security platform that safeguards user data and privacy, high security standards are maintained. It detects and prevent unauthorized changes, blocks phishing websites to protect against malicious sites, and enhanced personal information protection through Samsung Knox Vault.

To ensure a future-ready and secure smart TV experience, Samsung’s 2025 AI TV lineup comes with 7 years of guaranteed OS upgrades at no additional cost. This industry-leading commitment extends the longevity of each device, keeping it up to date with the latest features, security enhancements, and performance improvements. Whether it’s advanced AI functionality or seamless SmartThings integration, consumers can enjoy a consistently premium experience year after year, making their investment in Samsung’s Vision AI-powered TVs truly future-proof.

Price, Offers & Availability
The 2025 lineup of Neo QLED 8K, Neo QLED 4K, OLED, and The Frame TVs will be available for pre-order from May 7, 2025 across Samsung retail stores, Samsung.com, and leading offline and online retail channels.

As part of the pre-order offer, consumers purchasing Neo QLED 8K, Neo QLED 4K, OLED TVs and The Frame can avail of exciting benefits, such as Free Soundbar worth up to INR 90990, cashback of up to 20%, Easy EMI with zero down payment, lowest EMI starting INR 2990 and up to 30-month EMI tenure. These offers are valid till May 28, 2025.

Samsung’s Neo QLED 8K range starts from INR 272990
Samsung’s Neo QLED 4K range starts from INR 89990
Samsung’s OLED range starts from INR 154990
Samsung’s QLED range starts from INR 49490
Samsung’s Frame TVs range starts from INR 63990

The 2025 Samsung AI TV lineup is available in a wide spectrum of screen sizes, catering to every viewing preference and space requirement. The range includes 43″, 50″, 55″, 65″, 75″, 77″, 83″, 85″, 98″ and the ultra-large 100” and 115″. From compact personal entertainment zones to immersive home theatres, this diverse selection ensures there’s a perfect AI-powered screen for every room and need.

MIL OSI Economics –

May 7, 2025

MIL-OSI Economics: Recognition of Self-Regulatory Organisation in Financial Markets regulated by the Reserve Bank

Source: Reserve Bank of India

The Reserve Bank had issued the Framework for Recognition of Self-Regulatory Organisations in Financial Markets regulated by the Reserve Bank (Framework) and invited applications for recognition as Self-Regulatory Organisation (SRO) in financial markets.

2. An application seeking recognition as an SRO in financial markets regulated by the Reserve Bank was received from the Fixed Income Money Market and Derivatives Association of India (FIMMDA).

3. Based on an examination of the application against the relevant requirements under the framework, it has been decided to recognise FIMMDA as an SRO in financial markets regulated by the Reserve Bank.

(Puneet Pancholy)
Chief General Manager

Press Release: 2025-2026/274

MIL OSI Economics –

May 7, 2025

MIL-OSI Economics: State of ransomware in 2025

Source: Securelist – Kaspersky

Headline: State of ransomware in 2025

Global ransomware trends and numbers

With the International Anti-Ransomware Day just around the corner on May 12, Kaspersky explores the ever-changing ransomware threat landscape and its implications for cybersecurity. According to Kaspersky Security Network data, the number of ransomware detections decreased by 18% from 2023 to 2024 – from 5,715,892 to 4,668,229. At the same time, the share of users affected by ransomware attacks increased by 0.02 p.p. to 0.44%. This smaller percentage compared to other cyberthreats is explained by the fact that attackers often don’t distribute this type of malware on a mass scale, but prioritize high-value targets, which reduces the overall number of incidents.

That said, if we look at incidents at organizations requiring immediate incident response services that were mitigated by Kaspersky’s Global Emergency Response Team (GERT), we’ll see that 41.6% of them were related to ransomware in 2024, compared to 33.3% in 2023. Targeted ransomware is likely to remain the primary threat to organizations around the world for the foreseeable future.

Below are some of the global trends that Kaspersky observed with ransomware in 2024.

Ransomware-as-a-Service (RaaS) dominance

The RaaS model remains the predominant framework for ransomware attacks, fueling their proliferation by lowering the technical barrier for cybercriminals. In 2024, RaaS platforms like RansomHub thrived by offering malware, technical support and affiliate programs that split the ransom (e.g., 90/10 for affiliates/core group). This model enables less-skilled actors to execute sophisticated attacks, contributing to the emergence of multiple new ransomware groups in 2024 alone. While traditional ransomware still exists, the scalability and profitability of RaaS make it the primary engine, with platforms evolving to include services such as initial access brokering and data exfiltration, ensuring its dominance into 2025.

Some groups continue to go cross-platform, while Windows remains the primary target

Many ransomware attacks still target Windows-based systems, reflecting the operating system’s widespread use in enterprise environments. The architecture of Windows, combined with vulnerabilities in software such as Remote Desktop Protocol (RDP) and unpatched systems, makes it a prime target for ransomware executables. In recent years, however, some attackers have diversified, with groups like RansomHub and Akira developing variants for Linux and VMware systems, particularly in cloud and virtualized environments. While Windows remains the epicenter, the growing focus on cross-platform ransomware signals a shift toward exploiting diverse infrastructures, especially as organizations adopt hybrid and cloud setups. This is not a new trend, and we expect it to persist in the coming years.

Overall ransomware payments down, average ransom payment up

According to Chainalysis, ransomware payments dropped significantly in 2024 to approximately $813.55 million, down 35% from a record $1.25 billion in 2023. On the other hand, Sophos reports that the average ransom payment surged from $1,542,333 in 2023 to $3,960,917 in 2024, reflecting a trend of targeting larger organizations with higher demands. This report also highlights that more organizations paid ransoms to get their data back, although other reports indicate that fewer organizations paid ransoms than in 2023. For example, according to Coveware, a company that specializes in fighting ransomware, the payment rate hit a record low of 25% in Q4 2024, down from 29% in Q4 2023, driven by law enforcement crackdowns, improved cybersecurity and regulatory pressures discouraging payments.

While encryption remains a core component of many ransomware attacks, the primary goal for some groups has shifted or expanded beyond locking data

In 2024, cybercriminals increasingly prioritized data exfiltration alongside, or sometimes instead of, encryption, focusing on stealing sensitive information to maximize leverage and profits or even extending threats to third parties such as customers, partners, suppliers, etc. Encryption is still widely used, but the rise of double and triple extortion tactics shows a strategic pivot. RansomHub and most modern ransomware groups often combine encryption with data theft, threatening to leak or sell stolen data if a ransom is not paid, making exfiltration a critical tactic.

Dismantled or disrupted ransomware actors in 2024

Several major ransomware groups faced significant disruptions in 2024, though the ecosystem’s resilience limited the long-term impact. LockBit, responsible for 27.78% of attacks in 2023, was hit hard by Operation Cronos in February 2024, with law enforcement seizing its infrastructure, arresting members and unmasking its leader, Dmitry Khoroshev. However, despite these efforts, LockBit relaunched its operations and remained active throughout 2024.

ALPHV/BlackCat, another prolific group, was dismantled after an FBI operation in December 2023, though affiliates migrated to other groups such as RansomHub. The Radar/Dispossessor operation was disrupted by the FBI in August 2024, and German authorities seized 47 cryptocurrency exchanges linked to ransomware laundering. Despite these takedowns, groups like RansomHub and Play quickly filled the void, underscoring the challenge of eradicating ransomware networks. However, according to the latest research, the RansomHub group presumably paused their operations as of April 1, 2025.

Some groups disappear, others pick up their work

When ransomware groups disband or disappear, their tools, tactics and infrastructure often remain accessible in the cybercriminal ecosystem, allowing other groups to adopt and enhance them. For example, groups like BlackMatter or REvil, after facing pressure from law enforcement, saw their code and methods reused by successors like BlackCat, which in turn was followed by Cicada3301. Disappearing groups may also sell their source code, exploit kits or affiliate models on dark web forums, enabling emerging or existing gangs to repurpose these resources. In addition, malicious tools are sometimes leaked to the internet, as was the case with LockBit 3.0. As a result, many smaller groups or individuals unrelated to the ransomware developers, including hacktivists and low-skilled cybercriminals, get hold of these tools and use them for their own purposes. This cycle of knowledge transfer accelerates the evolution of ransomware as new actors build on proven strategies, adapt to countermeasures, and exploit vulnerabilities faster than defenders can respond. In telemetry, these new groups using old toolkits can be identified as old groups (e.g., LockBit).

Ransomware groups increasingly developing their own custom toolkits

This is done to increase the effectiveness of their attacks and avoid detection. These toolkits often include exploitation tools, lateral movement tools, password attack tools, etc. that are tailored to specific targets or industries. By creating proprietary tools, these groups reduce their reliance on widely available, detectable exploits and maintain control over their operations. This in-house development also facilitates frequent updates to counter defenses and exploit new vulnerabilities, making their attacks more resilient and harder for cybersecurity measures to mitigate.

General vs. targeted ransomware share

Targeted ransomware attacks, aimed at specific organizations for maximum disruption and payout, focus on high-value targets such as hospitals, financial institutions and government agencies, leveraging reconnaissance and zero-day exploits for precision. General ransomware, which spreads indiscriminately via phishing or external devices, often affects smaller businesses or individuals with weaker defenses. The focus on targeted attacks reflects cybercriminals’ preference for larger ransoms, though general ransomware persists due to its low-effort, high-volume potential.

According to Kaspersky research, RansomHub was the most active group executing targeted attacks in 2024, followed by Play.

Each group’s share of victims according to its data leak site (DLS) as a percentage of all reported victims of all groups during the period under review (download)

AI tools used in ransomware development (FunkSec)

FunkSec emerged as a ransomware group in late 2024 and quickly gained notoriety, claiming multiple victims in December alone and outpacing established groups like Cl0p and RansomHub. Operating on a Ransomware-as-a-Service (RaaS) model, FunkSec employs a double extortion tactic that combines data encryption with exfiltration. The group targets sectors such as government, technology, finance and education in countries including India, Spain and Mongolia.

FunkSec is notable for its heavy reliance on AI-assisted tools, particularly in malware development. Its ransomware features AI-generated code with comments that are perfect from a language perspective, suggesting the use of large language models (LLMs) to streamline development and evade detection. Unlike typical ransomware groups that demand millions, FunkSec’s ransoms are unusually low, adopting a high-volume, low-cost approach.

Bring Your Own Vulnerable Driver attacks continue

Bring Your Own Vulnerable Driver (BYOVD) is an increasingly prevalent technique used in ransomware attacks to bypass security defenses and gain kernel-level access on Windows systems.

With BYOVD, attackers deploy a legitimate but vulnerable driver – often digitally signed by a trusted vendor or Microsoft – on a target system. These drivers, which operate at the kernel level (ring 0) with high privileges, contain exploitable flaws that allow attackers to disable security tools, escalate privileges or execute malicious code undetected. By leveraging signed drivers, attackers can evade Windows’ default security checks.

Although BYOVD is an advanced technique, there is a range of open-source tools like EDRSandblast and Backstab that lower the technical barriers and simplify such attacks. According to the Living Off The Land Drivers (LOLDrivers) project, hundreds of exploitable drivers are known, highlighting the scale of the problem. Attackers continue to find new vulnerable drivers, and tools like KDMapper allow mapping of unsigned drivers into memory via BYOVD, complicating defenses.

Regional ransomware trends and numbers

Share of users whose computers were attacked by crypto-ransomware, by region. Data from Kaspersky Security Network (download)

In the Middle East and Asia-Pacific regions, ransomware affected a higher share of users due to rapid digital transformation, expanding attack surfaces and varying levels of cybersecurity maturity. Enterprises in APAC were heavily targeted, driven by attacks on infrastructure and operational technology, especially in countries with growing economies and new data privacy laws.

Ransomware is less prevalent in Africa due to lower levels of digitization and economic constraints, which reduce the number of high-value targets. However, as countries like South Africa and Nigeria expand their digital economies, ransomware attacks are on the rise, particularly in the manufacturing, financial and government sectors. Limited cybersecurity awareness and resources leave many organizations vulnerable, though the smaller attack surface means the region remains behind global hotspots.

Latin America also experiences ransomware attacks, particularly in countries like Brazil, Argentina, Chile and Mexico. Manufacturing, agriculture, and retail, as well as critical sectors such as government and energy are targeted, but economic constraints and smaller ransoms deter some attackers. The region’s growing digital adoption is increasing exposure. For example, NightSpire ransomware compromised Chilean company EmoTrans, a logistics company serving key industries in Chile such as mining, agriculture and international trade. The group first appeared in March 2025, and attacked government institutions, manufacturers and other companies in various parts of the world. Like many other groups, NightSpire uses the double extortion strategy and has its own data leak site (DLS).

The Commonwealth of Independent States (CIS) sees a smaller share of users encountering ransomware attacks. However, hacktivist groups like Head Mare, Twelve and others active in the region often use ransomware such as LockBit 3.0 to inflict damage on target organizations. Manufacturing, government, and retail are the most targeted sectors, with varying levels of cybersecurity maturity across the region affecting security.

Europe is confronted with ransomware, but benefits from robust cybersecurity frameworks and regulations that deter some attackers. Sectors such as manufacturing, agriculture, and education are targeted, but mature incident response and awareness limit the scale of attacks. The region’s diversified economies and strong defenses make it less of a focal point for ransomware groups than regions with rapid, less secure digital growth.

For example, RansomHub claimed responsibility for a 2024 attack on Kawasaki’s European offices, disrupting operations across multiple countries. The breach compromised customer and operational data, affecting supply chains for Kawasaki’s motorcycle and industrial products in Europe. The regional impact was significant in countries such as Germany and the Netherlands, where Kawasaki has a strong market presence, highlighting vulnerabilities in Europe’s manufacturing sector.

Change in the share of users whose computers were attacked by crypto-ransomware, by region, 2024 compared to 2023. Data from Kaspersky Security Network (download)

Emerging threats and future outlook

Looking ahead to 2025, ransomware is expected to evolve by exploiting unconventional vulnerabilities, as demonstrated by the Akira gang’s use of a webcam to bypass endpoint detection and response systems and infiltrate internal networks. Attackers are likely to increasingly target overlooked entry points like IoT devices, smart appliances or misconfigured hardware in the workplace, capitalizing on the expanding attack surface created by interconnected systems. As organizations strengthen traditional defenses, cybercriminals will refine their tactics, focusing on stealthy reconnaissance and lateral movement within networks to deploy ransomware with greater precision, making it harder for defenders to detect and respond in time.

Ransomware groups are also likely to escalate their extortion strategies, moving beyond double extortion to more aggressive approaches such as threatening to leak sensitive data to regulators, competitors or the public. The Ransomware-as-a-Service model will continue to thrive, allowing less-skilled actors to launch sophisticated attacks by purchasing access to pre-built tools and exploit kits. Geopolitical tensions may further drive hacktivism and state-sponsored ransomware campaigns targeting critical assets, such as energy grids or healthcare systems, as part of hybrid warfare. Smaller organizations with limited cybersecurity budgets will face heightened risks as attackers exploit their weaker defenses. To adapt, businesses must adopt zero-trust security models, secure IoT ecosystems and prioritize employee training to mitigate phishing and social engineering threats.

The proliferation of large language models (LLMs) tailored for cybercrime will further amplify ransomware’s reach and impact. LLMs marketed on the dark web lower the technical barrier to creating malicious code, phishing campaigns and social engineering attacks, allowing even less-skilled actors to craft highly convincing lures or automate ransomware deployment. As more innovative concepts such as RPA (Robotic Process Automation) and LowCode, which provide an intuitive, visual, AI-assisted drag-and-drop interface for rapid software development, are quickly adopted by software developers, we can expect ransomware developers to use them to automate their attacks as well as new code development, making the ransomware threat even more prevalent.

Recommendations

To effectively counter ransomware in 2025, organizations and individuals must adopt a multi-layered defense strategy that addresses the evolving tactics of groups like FunkSec, RansomHub and others that leverage AI, Bring Your Own Vulnerable Driver (BYOVD) and double extortion.

Prioritize proactive prevention through patching and vulnerability management. Many ransomware attacks exploit unpatched systems, so organizations should implement automated patch management tools to ensure timely updates for operating systems, software and drivers. For Windows environments, enabling Microsoft’s Vulnerable Driver Blocklist is critical to thwarting BYOVD attacks. Regularly scan for vulnerabilities and prioritize high-severity flaws, especially in widely used software like Microsoft Exchange or VMware ESXi, which were increasingly targeted by ransomware in 2024.

Strengthen endpoint and network security with advanced detection and segmentation. Deploy robust endpoint detection and response solutions such as Kaspersky NEXT EDR to monitor for suspicious activity like driver loading or process termination. Network segmentation is equally important – limit lateral movement by isolating critical systems and using firewalls to restrict traffic. Implement a zero-trust architecture that requires continuous authentication for access.

Invest in backups, training and incident response planning. Maintain offline or immutable backups that are tested regularly to ensure rapid recovery without paying a ransom. Backups should cover critical data and systems and be stored in air-gapped environments to resist encryption or deletion. User education is essential to combat phishing, which remains one of the top attack vectors. Conduct simulated phishing exercises and train employees to recognize AI-crafted emails used by FunkSec and others for stealth. Kaspersky GERT can help develop and test an incident response plan to minimize potential downtime and costs.

The recommendation to not pay a ransom remains robust, especially given the risk of unavailable keys due to dismantled infrastructure, affiliate chaos or malicious intent, as seen in the 2024 disruptions. By investing in backups, incident response and preventive measures like patching and training, organizations can avoid funding criminals and mitigate the impact. Kaspersky also offers free decryptors for certain ransomware families. If you get hit by ransomware, check to see if there is a decryptor available for the ransomware family used in your case. Note that even if one isn’t available right now, it may be added later.

MIL OSI Economics –

May 7, 2025
MIL-Evening Report: The Premier League champions have already been crowned but there’s still a lot on the line – mainly money

Source: The Conversation (Au and NZ) – By Ronnie Das, Associate Professor in Data Analytics, The University of Western Australia

The English Premier League (EPL) is one of the most prestigious and widely consumed soccer competitions in the world.

Yet it is also manifestly lopsided when it comes to competitive balance. Only a handful of teams are title contenders each season.

The rest mainly aim to avoid relegation to the second-tier Championship, or strive to qualify for lucrative Europe-wide competitions that run alongside the domestic season.

Despite the dominance of a handful of teams, and this year’s title race already being decided in Liverpool’s favour, there is still major fan interest, even among neutrals.

The reason why is prestige and the financial windfalls for the teams that qualify for European leagues.

Soccer’s uneven playing field

Competitiveness in the Premier League has significantly declined since 1997 due to growing overseas investments.

Super-wealthy investors such as Roman Abramovich and Sheikh Mansour have permanently changed the fortunes of Chelsea and Manchester City, respectively. Since foreign acquisitions, these clubs experienced meteoric rises and dominated the league, and in Manchester City’s case, have enjoyed a near-monopoly on the league title in recent years.

Superior financial backing provides unfair advantages in the player transfer market, wage affordability, and modernising training facilities that domestically funded clubs can’t match.

This is probably a major reason why in 33 years of the EPL’s existence, there have only ever been seven different winners.

This isn’t a unique feature of the English competition.

Among the major European leagues, Barcelona and Real Madrid have combined 18 Spanish La Liga titles since 2004, Bayern Munich has won 15 German Bundesliga championships, and in Italy’s Serie A, Juventus (nine), Inter Milan (seven) and AC Milan (two) have shared the vast majority of titles over the past two decades.

This is an illustration of what economists call industrial concentration – market domination by a small number of organisations.

Normally, a fundamental principle when designing a sports league is the idea that every team should have a chance of winning it.

In US sports, such as the National Basketball Association, this is enshrined within the sport’s rules and governance.

One can argue it has been a long time since there was any such equality in English football.

Despite the criticism, there is still major interest in the Premier League, due mainly to the jostling for European qualification.

Why it’s not all about the title

Liverpool and its fans are still celebrating their title win, which they clinched with four games to spare. The victory, the club’s 20th in top-tier English soccer, equals their arch-rival Manchester United’s record.

The league’s often thrilling relegation battle has also already been decided.

But interest in the league’s final few games is still high because many clubs are jostling for European qualification.

These European-wide competitions are, in descending order of prestige, the Champions League, Europa League and the recently launched Conference League.

Organised by the Union of European Football Associations (UEFA), these competitions bring together the top teams from each major European soccer league to compete against each other.

This year, the top five English clubs (instead of the usual top four) will be offered a confirmed Champions League position. This is due to the collective best performance of English clubs this season in the Champions League.

At the time of writing, there is only a seven-point spread between the six teams still vying for a top-five finish, with three games left to play.

The sixth team in the league table, and the FA Cup winner, also receives the opportunity to join Europe’s second-tier club league tournament, the Europa League.

And the Carabao Cup winner secures a spot in the third-tier Conference League.

With Newcastle United (Carabao Cup winner) and Manchester City (favourite for FA Cup final) likely to finish in the top five Premier League places, the race for Europe is getting more intense with mathematical permutations suggesting up to ten Premier League places may be open to European league qualification.

This means 12 EPL teams are still fighting for every single point.

European qualification delivers enormous financial incentives. For many of the smaller competing clubs, such as Bournemouth, Nottingham Forest and Fulham, this is a once-in-a-generation opportunity.

Money matters

Champions League qualification offers the largest financial rewards, with a €2.467 billion prize pool (A$4.34 billion), and minimum €18.62 million (A$32.7 million) reward per club for participation.

Each victory during the tournament’s league stage also attracts a further €2.1 million (A$3.69 million) performance bonus, and bonuses for qualifying for the knockout stage range from €1 million to €18.5 million (A$1.75 million to $32.4 million) per club, depending on how far they progress.

For Europa League participation, the reward is €4.31 million (A$7.57 million) per team, and €3.17 million (A$5.57 million) for the Conference League.

This money is vital for clubs’ survival, especially as player wages and the transfer market have skyrocketed in recent years.

For example, Manchester City’s Erling Haaland, the highest-paid Premier League player, earns £500,000 (A$1.028 million) per week.

So, having the financial means to purchase top-quality players and sustain a strong team is becoming incredibly difficult for clubs with limited investments and earnings.

For smaller clubs, qualifying for European competition can be a lifeline, which is why there’s still so much interest in the Premier League’s upper mid-table battles – despite Liverpool already being a week into the title celebrations.

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. The Premier League champions have already been crowned but there’s still a lot on the line – mainly money – https://theconversation.com/the-premier-league-champions-have-already-been-crowned-but-theres-still-a-lot-on-the-line-mainly-money-254700

MIL OSI Analysis – EveningReport.nz –

May 7, 2025
MIL-Evening Report: For 100 years, we have marvelled at planetariums. Here’s a brief history of how humans brought the stars indoors

Source: The Conversation (Au and NZ) – By Martin Bush, Senior Lecturer in History and Philosophy of Science, The University of Melbourne

Ulverstone Planetarium, Hive Tasmania

Picture this: a small audience is quietly ushered into a darkened room. They gasp in awe, as a brilliant night sky shines above. They wonder – as many after them will do – what trickery has made the roof above their heads disappear?

But this is a performance; the stars above an ingenious projection. For the first time a public audience has experienced the spectacle of the opto-mechanical planetarium. The location is the newly opened Deutsches Museum in Munich, built to celebrate science and technology. The date is May 7 1925.

Visualising the heavens

Throughout time, cultures around the world have used the stars to help make sense of the world, to understand where we come from and determine our place in the cosmos.

People have tried to recreate the movements of the stars and planets since antiquity. In the 1700s, the orrery, a clockwork model of the Solar System, was developed. The word “planetarium” was invented to describe orreries that featured the planets.

One room-sized orrery example was built by the self-taught Frisian astronomer Eise Eisinga. It’s still operational today in Franeker, Netherlands.

No human has ever been to the edge of the Solar System to see this view. Orreries, and other mechanical models of the universe like celestial globes, present views from impossible, external perspectives.

Eise Eisinga’s orrery was constructed on a scale of 1mm:1 million km with the pendulum clock that drives the mechanism located in the ceiling above.
Erik Zachte, CC BY-SA

The first planetariums

The desire for a realistic view of the stars and planets, created from a perspective we actually see, gathered pace in the early 20th century as light pollution from growing cities diminished the view of the night sky.

People like Oskar von Miller, first director of the Deutsches Museum in Munich, Germany, wanted to return this vision of the stars and planets to everyone. (Ironically, von Miller’s earlier career was as an electrical engineer, rolling out the city lighting that contributed to light pollution.)

One early attempt to create this view of the night sky was the Atwood Sphere, installed in Chicago in 1913.

Approximately five metres across, it was made of sheet metal perforated with a star map. When viewed from the inside, the light shining through 692 pinholes replicated the Chicago night sky. The whole structure could even be rotated to simulate the motion of the stars.

A realistic display of the stars is one thing. Representing the planets, whose positions in the sky change from night to night, is a different one. Von Miller and others at the Deutsches Museum knew that fixed holes could not represent the complexity of a moving planet.

What if the planets were displayed by projection? If so, couldn’t the stars be projected, as well? With this realisation, a new kind of planetarium was born, borrowing the name from earlier orreries but working in a completely different way.

The task of building such a device was given to the German optical company Carl Zeiss AG. After many setbacks, their first planetarium projector was completed in 1923, with the first performance at the Deutsches Museum a century ago today.

Planetariums were a hit with the public. Within decades, they had spread around the world – the first planetarium in the United States opened in Chicago in 1930, while the first one in Asia opened in Osaka, Japan in 1937. The popularity of planetariums particularly accelerated in the US during the space race of the 1960s.

Australia’s oldest operating planetarium is the Melbourne Planetarium, managed by Museums Victoria since 1965. In Aotearoa New Zealand, Auckland’s Stardome Observatory has been in operation since 1997. The current longest-running planetarium in the southern hemisphere is in Montevideo, Uruguay, operational since 1955.

Changing pace of technology

The opto-mechanical planetarium projector remains a technological wonder of the modern world. Individual plates, perforated with pinholes, are illuminated by a bright central light. Separate lenses focus each projection from one of these star maps to fill the entire dome with about 5,000 stars.

The Sun, Moon and planets have separate projectors driven by gears and rods that mechanically calculate the object’s position in the sky for any time or place.

The Zeiss ZKP-1 star projector was installed at Adelaide Planetarium in 1972.
Adelaide Planetarium

By the 1990s, a digital revolution had begun. With the advent of computers, the positions of the planets could now be calculated digitally. The Melbourne Planetarium became the first digital planetarium in the southern hemisphere when it installed the Digistar II in 1999.

This system, developed by computer graphics company Evans and Sutherland, replaced the multiple lenses of earlier projectors with a fisheye lens. A single beam of light swept across the whole dome so rapidly that it seemed to create a single image – albeit in a bizarre green colour, rendering a starfield of fuzzy green blobs.

The first accurate fly-through of a star field was created by Evans and Sutherland and used as the opening credits of Star Trek II: Wrath of Khan (1982).

The trade-off for a less crisp starfield was a 3D database with more than 9,000 stars. For the first time, planetarium audiences could fly through space, far beyond the edge of the Solar System.

Planetarium technology continues to develop. Today, most planetariums operate through video projection. Known as fulldome, the output from multiple projectors is blended together to create a seamless video, transforming the planetarium into a sophisticated 360-degree theatre.

A still fulldome frame from Melbourne Planetarium’s production Moonbase One, released in 2018.
Museums Victoria

A gateway to the stars

Astronomy has also changed over the last century. Just as Zeiss was completing its first projector, astronomer Edwin Hubble discovered that other galaxies exist beyond our Milky Way galaxy.

The stars shown on the dome in Munich in 1925 turned out to be just a tiny part of the universe that we know today.

Planetariums’ digital systems now incorporate data from telescopes and space agencies around the world. Audiences can fly off Earth, orbit the planets and moons of the Solar System, and explore the billions of known galaxies.

In the planetarium, data from the GAIA spacecraft shows the little Sagittarius Dwarf Galaxy dropping stars like breadcrumbs as it orbits the Milky Way.
Museums Victoria, CC BY-SA

Yet some things have not changed. From orreries and lantern slides to opto-mechanical and digital planetariums, the communication of astronomy has always been about more than just the latest results of science.

The power of the planetarium over the last 100 years has been its ability to evoke wonder and awe. It taps into our enduring fascination with the vast mystery of the night sky.

Tanya Hill works at the Melbourne Planetarium operated by Museums Victoria.

Martin Bush 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. For 100 years, we have marvelled at planetariums. Here’s a brief history of how humans brought the stars indoors – https://theconversation.com/for-100-years-we-have-marvelled-at-planetariums-heres-a-brief-history-of-how-humans-brought-the-stars-indoors-255228

MIL OSI Analysis – EveningReport.nz –

May 7, 2025
MIL-Evening Report: Greens leader Adam Bandt and Teal Zoe Daniel likely to lose their seats

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 80% of enrolled voters counted, the ABC is giving Labor 87 of the 150 House of Representatives seats, the Coalition 40, the Greens zero and all Others ten, with 13 seats remaining undecided.

Based on votes realigned to a Greens vs Labor two candidate count in Melbourne, the ABC has Greens leader Adam Bandt trailing Labor by almost 4,400 votes (52.9–47.1). This would be a 9.4% swing to Labor from the Greens since the 2022 election. Analyst Kevin Bonham agrees with the ABC’s estimate. Primary votes are 40.3% Bandt (down 4.4%), 31.5% Labor (up 5.8%) and 19.1% Liberals (down 0.5%).

Bandt had won Melbourne by 60.2–39.8 against Labor at the 2022 election, but his margin was reduced to 56.5–43.5 by an unfavourable redistribution. Bandt has become hated by the right, so it’s natural that their preferences would go to Labor ahead of Bandt.

If this result is confirmed, the Greens will have lost three of their four House seats. In the fourth seat (Ryan), The Poll Bludger’s projections have the Greens just ahead of Labor when one of these parties is excluded, so they will probably beat the Liberal National Party on Labor preferences.

Despite these losses, the Greens overall vote has held up, down 0.5% to 11.8%. It’s likely the Greens will improve when absent votes start being counted; these votes were cast outside a voter’s home electorate.

The problem for the Greens is that their vote has become too dispersed and not concentrated enough to win single-member seats. In the proportional Senate, the Greens have performed far better, holding all their six seats that were last elected in 2019 (one from each state).

Liberal Tim Wilson gains Goldstein

The ABC has called a Liberal gain in Goldstein, with Teal independent incumbent Zoe Daniel defeated by a current margin of 684 votes. Daniel won on ordinary votes, which include election day and pre-poll votes cast within Goldstein, by 51.8–48.2. But the nearly 14,000 postals counted so far have favoured Wilson by a huge 64–36, and there’s still at least 6,000 postals to be counted.

In other close Teal vs Liberal contests, an amendment to a pre-poll booth hurt the Teal in Liberal-held Bradfield, and she now trails by 178 votes. Postals that have heavily favoured the Liberal are almost finished, and the Teal may be able to regain the lead on other vote types.

In Kooyong, incumbent Teal Monique Ryan leads the Liberals by 622 votes. Ryan won ordinary votes by 52.3–47.7, but she’s losing the 14,000 postals counted so far by 62–38, and there’s still at least 6,500 postals to be counted.

Other close seats

The electoral commission is still realigning the two candidate count in Bendigo, Bean and Fremantle. he ABC estimates Labor has an 1,183 vote lead over the Nationals in Bendigo, a 355 vote lead over a Teal independent in Fremantle, but Labor trails a Teal independent in Bean by 943 votes.

In Liberal-held Menzies, Labor leads by almost 1,400 votes and should win, as the Liberal-favouring postals are nearly finished. In Labor-held Bullwinkel, Labor leads the Liberals by 50 votes and should extend their lead once vote types other than postals start being counted. In LNP-held Longman, the LNP leads Labor by 439 votes, but postals are nearly finished and Labor may regain the lead on other vote types.

Adrian Beaumont 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. Greens leader Adam Bandt and Teal Zoe Daniel likely to lose their seats – https://theconversation.com/greens-leader-adam-bandt-and-teal-zoe-daniel-likely-to-lose-their-seats-256067

MIL OSI Analysis – EveningReport.nz –

May 7, 2025
MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for May 7, 2025

ER Report: Here is a summary of significant articles published on EveningReport.nz on May 7, 2025.

In an election that played out on social media as much as TV, do leaders’ debates still matter?
Source: The Conversation (Au and NZ) – By Stephen Mills, Honorary Senior Lecturer, School of Social and Political Sciences, University of Sydney With the election campaign now fading into the rear-view mirror, the parties, particularly the Liberals, will be reviewing their campaign strategies. A part of this will likely be the use of televised debates.

Labor has promised fast action to cut student debt, but arts students will have to wait for lower fees
Source: The Conversation (Au and NZ) – By Andrew Norton, Professor of Higher Education Policy, Monash University Labor’s federal election win means university fees and costs are set to change. But some of these changes will not be immediate. Prime Minister Anthony Albanese has already said planned cuts to student debt will be a top

How having no pants in public went from a nightmare to the Met Gala’s hottest fashion trend
Source: The Conversation (Au and NZ) – By Jye Marshall, Lecturer, Fashion Design, School of Design and Architecture, Swinburne University of Technology While the official theme of the 2025 Met Gala was Superfine: Tailoring Black Style, another trend emerged among those on the red carpet: no pants. While many might shudder at the thought of

Greens leader Adam Bandt and Teal Zoe Daniel likely to lose their seats
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 80% of enrolled voters counted, the ABC is giving Labor 87 of the 150 House of Representatives seats, the Coalition 40, the Greens zero and all

For 100 years, we have marvelled at planetariums. Here’s a brief history of how humans brought the stars indoors
Source: The Conversation (Au and NZ) – By Martin Bush, Senior Lecturer in History and Philosophy of Science, The University of Melbourne Ulverstone Planetarium, Hive Tasmania Picture this: a small audience is quietly ushered into a darkened room. They gasp in awe, as a brilliant night sky shines above. They wonder – as many after

More than 50 years after trying to reach Venus, a failed Soviet spacecraft is about to return to Earth
Source: The Conversation (Au and NZ) – By Alice Gorman, Associate Professor in Archaeology and Space Studies, Flinders University A postage stamp from the Soviet Union celebrating its Venus space program from the 1960s and 1970s. Soviet Union/Wikipedia During the height of the Cold War in the 1960s and 1970s, the USSR launched 29 spacecraft

The Premier League champions have already been crowned but there’s still a lot on the line – mainly money
Source: The Conversation (Au and NZ) – By Ronnie Das, Associate Professor in Data Analytics, The University of Western Australia The English Premier League (EPL) is one of the most prestigious and widely consumed soccer competitions in the world. Yet it is also manifestly lopsided when it comes to competitive balance. Only a handful of

Cheap overseas, ruinous in Australia: here’s how to make double-glazed windows the norm
Source: The Conversation (Au and NZ) – By Trivess Moore, Associate Professor in Property, Construction and Project Management, RMIT University New Africa/Shutterstock In Europe, double-glazed windows are standard. But in Australia, these energy-saving windows are remarkably uncommon. Correctly installed, the effect of double-glazing is remarkable. Instead of a house losing or gaining huge amounts of

More Australians are overdosing on GHB. But there are ways to reduce your risk
Source: The Conversation (Au and NZ) – By Jack Freestone, Postdoctoral Research Fellow, National Centre for Clinical Research on Emerging Drugs, UNSW Sydney Hendo Wang/Unsplash Gamma hydroxybutyrate – better known as GHB – is an increasingly popular illegal drug being used recreationally in Australia. While it can create feelings of euphoria, disinhibition and increased libido,

The election of a new pope is announced with smoke: what do the colours mean, and how are they made?
Source: The Conversation (Au and NZ) – By Clare Johnson, Professor of Liturgical Studies and Sacramental Theology and Director of the ACU Centre for Liturgy, Australian Catholic University For nearly 800 years the Catholic Church has utilised the process of the conclave to elect a new pope. “Conclave” means “with a key”, indicating the cardinal-electors

Avoiding AI is hard – but our freedom to opt out must be protected
Source: The Conversation (Au and NZ) – By James Jin Kang, Senior Lecturer in Computer Science, RMIT University Vietnam Wachiwit Imagine applying for a job, only to find out that an algorithm powered by artificial intelligence (AI) rejected your resume before a human even saw it. Or imagine visiting a doctor where treatment options are

Popes have been European for hundreds of years. Is it time for one from Africa or Asia?
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Gender quotas are the only way for the Liberals to go: Simon Birmingham
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MIL OSI Analysis – EveningReport.nz –

May 7, 2025
MIL-OSI USA: DCCA NEWS RELEASE: HAWAIʻI RESIDENTS ENCOURAGED TO REVIEW INSURANCE POLICIES IN PREPARATION FOR HURRICANE SEASON

Source: US State of Hawaii

DCCA NEWS RELEASE: HAWAIʻI RESIDENTS ENCOURAGED TO REVIEW INSURANCE POLICIES IN PREPARATION FOR HURRICANE SEASON

Posted on May 6, 2025 in Latest Department News, Newsroom

STATE OF HAWAIʻI

KA MOKU ʻĀINA O HAWAIʻI

DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS

KA ʻOIHANA PILI KĀLEPA

INSURANCE DIVISION

JOSH GREEN, M.D.

GOVERNOR

KE KIAʻĀINA

NADINE Y. ANDO

DIRECTOR

KA LUNA HOʻOKELE

JERRY BUMP

ACTING INSURANCE COMMISSIONER

HAWAIʻI RESIDENTS ENCOURAGED TO REVIEW INSURANCE POLICIES IN PREPARATION FOR HURRICANE SEASON

FOR IMMEDIATE RELEASE

May 6, 2025

HONOLULU — The Department of Commerce and Consumer Affairs Insurance Division reminds consumers to evaluate theirinsurance policies before hurricane season, which starts June 1.

“Understanding what your insurance covers before a disaster hits is crucial,” said Acting Insurance Commissioner Jerry Bump. “It ensures you have enough coverage to rebuild or replace what you’ve lost. For example, if you’ve recently renovated your home, that likely increased its value. And even without upgrades, rising costs for materials and labor can still affect your coverage needs.”

Many consumers may not realize that standard homeowners and renters insurance policies typically do not cover hurricane andflood damage. Hurricane insurance must often be purchased separately or added as an endorsement onto the existing policy to ensure protection against hurricane-related damages. Additionally, once a tropical storm approaches the islands, insurancecompanies may issue a moratorium, temporarily halting the issuance of new policies.

Damage caused by floods are also typically covered under a separate policy. Since flooding can occur anytime and anywhere, even outside high-risk areas, it is important for property owners to consider adding flood insurance coverage. Those planning to purchase a National Flood Insurance Program policy should plan ahead, as there is typically a 30-day waiting period for the policy to go into effect.

Consumers should contact their agent or insurance company if they have any property updates or questions about their coverage.

For more information on flood and hurricane insurance and other helpful resources, please visit the DCCA Insurance Division’s website at https://cca.hawaii.gov/ins/resources/

###

Media Contact:

Communications Office

Department of Commerce and Consumer Affairs

Phone: 808-586-2760

Email: [email protected]

MIL OSI USA News –

May 7, 2025
MIL-OSI USA: News release from Dept. of Agriculture on compost reimbursement program

Source: US State of Hawaii

News release from Dept. of Agriculture on compost reimbursement program

Posted on May 6, 2025 in Latest Department News, Newsroom





STATE OF HAWAIʻI

KA MOKU ʻĀINA O HAWAIʻI

DEPARTMENT OF AGRICULTURE

ʻOIHANA MAHIʻAI

JOSH GREEN, M.D.
GOVERNOR

KE KIAʻĀINA

SHARON HURD
CHAIRPERSON

HAWAIʻI BOARD OF AGRICULTURE

DEAN M. MATSUKAWA
DEPUTY TO THE CHAIRPERSON

HAWAIʻI BOARD OF AGRICULTURE

COMPOST REIMBURSEMENT PROGRAM RELEASES $427,000
TO ASSIST AGRICULTURAL OPERATIONS

FOR IMMEDIATE RELEASE

NR25-10

May 6, 2025

HONOLULU – The Hawai‘i Department of Agriculture (HDOA) Compost Reimbursement Program for Fiscal Year 2025 has completed disbursements totaling $427,670 to 24 Hawai‘i agricultural operations for the purchase and transport of compost in Hawai‘i. Of the 24 businesses, 14 were farming and 10 were landscaping operations, with an average reimbursement of about $17,820 each.

Governor Josh Green, M.D., released $400,000 for the program in August 2024, from funds appropriated by the 2024 state Legislature (Act 231) for programs to control invasive species. HDOA added another $27,670 from department funds toward the program.

“For many agricultural operations, compost is a necessary element and a major expense,” said Sharon Hurd, chairperson of the Hawai‘i Department of Agriculture. “Helping to defray some of the cost to purchase compost and also to transport it really helps out the growers.”

The program reimbursed agricultural operations up to 50% of the cost of compost purchased between July 1, 2024 and May 1, 2025, including the cost of transportation. The reimbursements were not to exceed $50,000 per qualified applicant. The program also required that the compost be purchased from a certified processor, retailer or wholesalers licensed to do business in Hawai‘i. In addition, certified processors were limited to those companies regulated by the Hawai‘i Department of Health Solid Waste Management Program, which helps to ensure that the compost does not harbor pests, such as the coconut rhinoceros beetle and other invasive species.

The 2025 legislative session included a bill that would continue the reimbursement program in 2026. The funding level is still pending.

# # #

Media Contact:
Janelle Saneishi
Public Information Officer
Hawaiʻi Department of Agriculture
Phone: 808-973-9560
Cell: 808-341-5528
Email: [email protected]
Website: http://hdoa.hawaii.gov

MIL OSI USA News –

May 7, 2025
MIL-OSI USA: Hear it from locals: State investment helps prevent and prosecute organized retail crime

Source: US State of California 2

May 6, 2025

What you need to know: From October 2023 to December 2024, participants collected data on arrests, referrals, charges, convictions, and sentencing related to organized retail crime.

Sacramento, California – Last month, Governor Gavin Newsom announced the results from $267 million in grants to 55 communities to hire more police and secure more felony charges against suspects. Proposed by the Governor and distributed by the Board of State and Community Corrections (BSCC), program participants collected data on arrests, referrals, charges, convictions, and sentencing related to organized retail crime. From October 2023 to December 2024, 88% of the 373 organized retail theft convictions were felonies.

The funding is split between two grant programs with unique applicants for each. The prevention program grantees compile arrest and referral data, while prosecution grant participants record charges, convictions, and sentencing. Future reporting may include updates on charges, convictions, and sentencing as individuals move through the criminal justice system.

Here is a snapshot of what leaders are saying across the state:

Local elected officials

Mayor Mark Armstrong, City of San Ramon: “As of March 30, 2025, San Ramon’s Organized Retail Theft (ORT) Suppression Team has investigated 264 incidents of ORT crimes and made 119 arrests. They have referred 137 cases to Contra Costa County District Attorney for review, and participated in 6 multi-agency special operations. They have recovered more than $196,000 in stolen goods. The team has made a significant impact for major retailers like Ulta Beauty, Sephora, Target, Home Depot and Safeway. Ulta Beauty recently reported that 30% of all of their organized retail theft cases in northern California were solved or closed by the San Ramon ORT team.”

Mayor Martha Guerrero, City of West Sacramento: “As Mayor of West Sacramento, I fully support the launch of the FastPass to Prosecution initiative being put forth by Yolo County District Attorney Reisig in partnership with our regional law enforcement partners. This collaboration is a critical step towards addressing a rise in retail theft negatively impacting the business communities throughout Yolo County. By streamlining the reporting and prosecution processes specific to habitual offenders, the FastPass initiative offers much needed assurance to the business community and will promote a safer consumer experience for residents. Through these partnerships, West Sacramento is investing in real solutions and will continue to champion innovative approaches to promoting public safety.”

Supervisor Lynda Hopkins, Sonoma County Board of Supervisors President: “Retail theft has taken a real toll on our local businesses, but thanks to the Governor’s investment in preventing and prosecuting organized retail crime, we’re finally turning a corner. We’re hearing from business owners and residents who feel a renewed sense of safety and support. This is what it looks like when the state steps up as a true partner to local communities – and it’s making a difference.”

Mayor Daniel Lurie, City of San Francisco: “People deserve to both feel safe and be safe in our city. Our administration is working every day to support our local businesses and energize our commercial corridors, and support from our state partners is critical to doing that work downtown and in communities across the city. Thank you to Governor Newsom for investing in the safety of San Franciscans.”

Mayor Bapu Vaitla, City of Davis: “We commend Governor Newsom for his strong leadership in addressing the rise of organized retail crime through the ORT grant investment. This initiative directly strengthens local jurisdictions’ capacity to prevent and investigate complex retail theft operations that impact our local businesses and community safety. In Yolo County, state funding has enhanced our ability to conduct investigations and work closely with the District Attorney’s Office to ensure that offenders are held accountable. These targeted resources are helping disrupt criminal networks and restore confidence among retailers and residents alike.”

Law enforcement leaders

Ron Lawrence, Costa Mesa Chief of Police: “The Costa Mesa Police Department is grateful for the opportunity provided by the Governor’s Office and BSCC to launch a grant-funded initiative targeting organized retail theft, motor vehicle theft, and motor vehicle accessory theft. With this support, CMPD implemented high-visibility patrols, cutting-edge technology, and collaborative operations that resulted in a 31% reduction in organized retail theft and a 35% drop in vehicle-related crimes. This partnership has also enabled 18 operations, 205 arrests, expanded officer training, and successful collaboration with other agencies and retail partners to disrupt major theft rings.”

Jonathan Arguello, Newark Chief of Police: “The Organized Retail Theft Grant has been a tremendous asset to the Newark Police Department in launching Newark’s Vehicle and Accessory Theft Prevention Program. It has enabled us to expand our deployment of Automated License Plate Readers in our city, significantly enhancing our ability to identify and apprehend those responsible for motor vehicle thefts and other crimes. This technology is critical in our continued efforts to protect Newark’s businesses, support our local economy, and keep our community safe.”

Andrew Binder, Palo Alto Chief of Police: “The State’s Organized Retail Theft grant funding has made a real difference in our community. It has enabled us to strategically deploy additional officers in our high traffic retail areas, expand our automated license plate recognition network, and invest in a new technological alternative to high speed vehicle pursuits. It has also deepened our collaborative relationships with local retailers and facilitated community policing. In no small part due to the initiatives supported by the ORT grant, we’ve experienced fewer overall retail thefts, coupled with an increase in the rate of suspect apprehension and the recovery of property. This program continues to be a success story for us.”

William “Bill” Scott, San Francisco Police Chief: “The City and County of San Francisco was facing an epidemic of organized retail theft and motor vehicle accessory theft. The grant has enabled us to utilize tools like automated license plate reader cameras in strategic areas, a surge of retail theft blitz operations with increased staffing, and better coordination with other law enforcement agencies, as well as the San Francisco District Attorney’s Office. The support has greatly enhanced our ability to reduce theft related crimes and has been critical to our success.”

Denton Carlson, San Ramon Chief of Police: “Organized retail theft goes beyond the financial loss for retailers. It impacts the quality of life in our community and is linked to criminal activities like drug trafficking and other illegal operations. This grant has allowed the San Ramon Police Department to strengthen our ability to combat Organized Retail Theft through state-of-the-art technological tools and the initiation of a suppression team, dramatically improving our collaborative efforts with local retailers and other law enforcement organizations. This behavior will not be tolerated in our community or by our organization, and this grant provided and continues to provide the resources the San Ramon Police Department needed to see that through.”

Robert Jonsen, Santa Clara County Sheriff: “Organized retail theft is not a victimless crime—it threatens the safety, economic stability, and quality of life for everyone in our community. This critical grant funding has been a game-changer, empowering our task force to build strong partnerships with retailers and allied agencies, swiftly dismantle sophisticated theft rings, and send a clear message: Santa Clara County will not tolerate these crimes. Our team has made nearly 200 arrests and recovered close to $770,000. The results speak for themselves. We’re not just solving cases, we’re restoring public trust and protecting local businesses from serious financial harm.”

Jeff Laugero, Stanislaus County Chief District Attorney: “The ORT Grant has been extremely helpful in strengthening partnerships and in obtaining additional follow up information that is crucial to the prosecution of these cases. The grant has also enabled us to increase our visibility. Our ‘Pay at the register or pay the consequences’ public messaging campaign sends the clear message that retail theft will not be tolerated in Stanislaus County. Those who commit these crimes will be held accountable.”

David Marshall, Yolo County District Attorney’s Office Chief Investigator: “The direct file reporting option for retailers has been incredibly effective, with several retailers sharing their stored digital evidence and internal theft reports. This enables us to link offenders to multiple incidents, across various retailers, and to connect criminal associates. We’ve closed the gap between retailers and law enforcement – the trust we have been able to build has led to unprecedented partnerships.”

Local prosecutors

Ryan Bal, Placer County District Attorney Investigator: “I have investigated Retail Theft for years – these funds have changed the landscape – allowing the Placer County District Attorney’s team to rapidly deploy our resources, identify those individuals engaged in organized retail theft, and ultimately protecting the safety of our citizens and the bottom line of our local retail partners.”

Thien Ho, Sacramento County District Attorney: “The ORT grant has enabled our office to expand the prosecution of retail thefts through the vertical prosecution model. Our office is now better positioned to identify and prosecute upper-level offenders who orchestrate organized retail theft and recruit lower-level individuals to commit the crimes.”

Brooke Jenkins, San Francisco District Attorney: “The organized retail theft vertical prosecution grant has been a game changer for my office. Because of this grant, our work with the San Francisco Police Department to combat rampant organized retail theft in our city has been strengthened, ensuring that perpetrators are held accountable and making our community safer.”

Jeff Rosen, Santa Clara County District Attorney: “The Organized Retail Theft Vertical Grant has strengthened our ability to effectively combat the scourge of retail theft affecting our county. The grant has furthered our goal to become the organized retail theft intelligence hub for our county by collaborating closely with law enforcement, retailers and prosecutors in other counties to hold cross-jurisdictional thieves accountable to the greatest extent possible. A sign of the grant’s success is a recently filed 65 felony charge complaint against a group of thieves who stole over 150 times from Home Depots throughout 11 Northern California counties. Our county will continue to hold those who threaten our retailers, both big and small, accountable.”

Erik Nasarenko, Ventura County District Attorney: “Thanks to Governor Newsom and the state’s ORT Grant, we’ve been able to dedicate a full-time prosecutor to fight organized retail theft in Ventura County. Just last year alone, we filed 124 cases involving 208 defendants, and recovering more than $500,000 in stolen goods. This grant has made a real difference in helping us hold offenders accountable and protect our businesses and communities.”

This is the biggest reform of the California mental health system in decades and will finally equip partners to deliver the results all Californians need and deserve. Treatment centers will prioritize mental health and substance use support in the community like never before. Now, it’s time to roll up our sleeves and begin implementing this critical reform – working closely with city and county leaders to ensure we see results.

Governor Gavin Newsom

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MIL OSI USA News –

May 7, 2025
MIL-Evening Report: 10 reasons why banning social media for New Zealanders under 16 is a bad idea – and will affect adults too

Source: The Conversation (Au and NZ) – By Alex Beattie, Lecturer, Media and Communication, Te Herenga Waka — Victoria University of Wellington

metamorworks/Getty Images

Government coalition partners National and Act are at odds over proposed restrictions on social media use by New Zealanders aged 16 and under.

Prime Minister Christopher Luxon recently announced a National Party private member’s bill that would require social media companies to verify someone is aged 16 or older. Luxon said social media was not “always a safe place for young people”.

But ACT Party leader David Seymour has dismissed National’s proposal, saying it was “simple, neat and wrong”.

Even if the member’s bill is not chosen out of the parliament biscuit tin, global interest in getting young people off social media is increasing.

In late 2024, Australia passed a law banning children aged under 16 from social media platforms. Advocates, police and politicians in the United Kingdom, United States and elsewhere have all proposed similar laws.

While there is merit in young people spending more time offline, and there are real concerns about the impact of social media on wider society, it’s not clear that outright prohibition will achieve what is hoped for. Here are ten reasons a blanket ban is not the answer.

1. The addiction fallacy

Lobby group Before 16 has compared social media to tobacco, saying the platforms should be treated as a public health harm. The implication is that young people could get addicted to social media.

But the standard for diagnosing addiction is high. Most young people are not addicted to social media; they have a habitual relationship with it that is hard to change.

Likewise, comparing digital experiences to food may not capture the full range of interactions and impacts. This often implies value judgements, suggesting online experiences are all about “dopamine hits” (similar to sweet treats) and inherently less valuable or “unhealthy” compared to offline experiences.

Prime Minister Christopher Luxon has introduced a members bill banning social media for people under 16 years old.
Hagen Hopkins/Getty Images

2. People are not ‘exposed to’ social media

The language of the ban seems to suggest the relationship between social media and users goes in one direction – that people are simply exposed to the good and bad of platforms such as Facebook, TikTok and X. But using social media is not like going outside and getting burnt by the sun.

While social media affects people, it’s also a tool we use to actively shape and create meaning for ourselves. It provides social scaffolding for day-to-day lives, identity formation, communication with family overseas, community support, and even a place to complain about parents.

3. Murky science

One of most influential books behind the ban is Jonathan Haidt’s The Anxious Generation. Haidt claims a causal link between social media use and increased anxiety and depression in Gen Z (those born between 1995 and 2012).

But this claim is highly contentious and has been criticised for failing to consider other causes for the rise in anxiety in young people.

At best, there may be a correlation between social media and poor mental health – they are happening at the same time. Young people are also grappling with the climate crisis, increasing inequality and global instability. These variables are difficult to isolate in a study, meaning social media becomes an easy target.

4. A range of experiences

Critics of social media also assume everyone has a negative experience online. And yes, if you tend to compare yourself to others on social media then you might end up feeling bad about your life.

But not everyone thinks this way or uses social media to compare what they have (and don’t have) with others.

5. The moral panic factor

Moral panics can occur when emerging technologies challenge established social norms.

Phenomena such as “phubbing” (using a phone to snub someone) challenge what is considered “socially acceptable” behaviour, triggering a deluge of think pieces about how they hurt society.

While some skills may decline (such as reading and writing) with new technology, others like visual or oral storytelling practiced on social media are on the rise.

Banning social media could mean young people miss out on valuable digital skills.

ACT Party leader David Seymour has called the social media ban bill ‘simple, neat and wrong’.
Hagen Hopkins/Getty Images

6. Marginalised groups lose out

Getting young people off social media might not be a big deal for kids who fit within their community. But if you are young, gay and live in a small town, for example, social media may provide the only space where you can feel safe or celebrated for who you are.

Social media is also a key means for immigrants to stay in touch with their families and culture.

7. Enforcement challenges

There are also problems with how the ban is supposed to work – something Australia is still grappling with despite already passing a ban into law (which comes into effect at the end of this year).

Policymakers have yet to explain how age verification technologies would work without giving away more personal data to media platforms. And everyone would have to verify their age, regardless of whether they are under 16 years old or not.

8. Losing innovation

Young people are savvier with technology than older generations. They lead with innovations such as FINSTA (fake Instagram) accounts – fake profiles that allow people to post more privately on Instagram without the pressure of conforming to expectations or judgement of people who know you.

Blanket bans could hurt this technological adeptness and creativity and stop young people from teaching us how to navigate our online and offline lives.

9. Learning how to disconnect

Media literacy is also a crucial skill in today’s media saturated age. The skill of unplugging could become part of that curriculum.

Temporarily going offline is an excellent way to make students aware of their relationship with social media. Schools could have media-free classes or courses to build awareness, encourage new habits and support students to develop new routines.

10. Better options than a ban

No one is arguing that social media hasn’t had a negative effect on individuals and society as a whole. But instead of a ban, why not work to improve the platforms?

We could focus regulatory efforts on creating safer spaces, like we do with physical buildings.

Overseas advocacy work on children’s digital rights shows how we can protect children from algorithms, gamification and other predatory tactics used by social media platforms, rather than introducing an outright ban.

Alex Beattie receives funding from The Royal Society of New Zealand. He has previously won a Marsden Fast Start Grant.

– ref. 10 reasons why banning social media for New Zealanders under 16 is a bad idea – and will affect adults too – https://theconversation.com/10-reasons-why-banning-social-media-for-new-zealanders-under-16-is-a-bad-idea-and-will-affect-adults-too-256065

MIL OSI Analysis – EveningReport.nz –

May 7, 2025
MIL-Evening Report: Meta’s new AI chatbot is yet another tool for harvesting data to potentially sell you stuff

Source: The Conversation (Au and NZ) – By Uri Gal, Professor in Business Information Systems, University of Sydney

Tony Lam Hoang/Unsplash

Last week, Meta – the parent company of Facebook, Instagram, Threads and WhatsApp – unveiled a new “personal artificial intelligence (AI)”.

Powered by the Llama 4 language model, Meta AI is designed to assist, chat and engage in natural conversation. With its polished interface and fluid interactions, Meta AI might seem like just another entrant in the race to build smarter digital assistants.

But beneath its inviting exterior lies a crucial distinction that transforms the chatbot into a sophisticated data harvesting tool.

‘Built to get to know you’

“Meta AI is built to get to know you”, the company declared in its news announcement. Contrary to the friendly promise implied by the slogan, the reality is less reassuring.

The Washington Post columnist Geoffrey A. Fowler found that by default, Meta AI “kept a copy of everything”, and it took some effort to delete the app’s memory. Meta responded that the app provides “transparency and control” throughout and is no different to their other apps.

However, while competitors like Anthropic’s Claude operate on a subscription model that reflects a more careful approach to user privacy, Meta’s business model is firmly rooted in what it has always done best: collecting and monetising your personal data.

This distinction creates a troubling paradox. Chatbots are rapidly becoming digital confidants with whom we share professional challenges, health concerns and emotional struggles.

Recent research shows we are as likely to share intimate information with a chatbot as we are with fellow humans. The personal nature of these interactions makes them a gold mine for a company whose revenue depends on knowing everything about you.

Consider this potential scenario: a recent university graduate confides in Meta AI about their struggle with anxiety during job interviews. Within days, their Instagram feed fills with advertisements for anxiety medications and self-help books – despite them having never publicly posted about these concerns.

The cross-platform integration of Meta’s ecosystem of apps means your private conversations can seamlessly flow into their advertising machine to create user profiles with unprecedented detail and accuracy.

This is not science fiction. Meta’s extensive history of data privacy scandals – from Cambridge Analytica to the revelation that Facebook tracks users across the internet without their knowledge – demonstrates the company’s consistent prioritisation of data collection over user privacy.

What makes Meta AI particularly concerning is the depth and nature of what users might reveal in conversation compared to what they post publicly.

Open to manipulation

Rather than just a passive collector of information, a chatbot like Meta AI has the capability to become an active participant in manipulation. The implications extend beyond just seeing more relevant ads.

Imagine mentioning to the chatbot that you are feeling tired today, only to have it respond with: “Have you tried Brand X energy drinks? I’ve heard they’re particularly effective for afternoon fatigue.” This seemingly helpful suggestion could actually be a product placement, delivered without any indication that it’s sponsored content.

Such subtle nudges represent a new frontier in advertising that blurs the line between a helpful AI assistant and a corporate salesperson.

Unlike overt ads, recommendations mentioned in conversation carry the weight of trusted advice. And that advice would come from what many users will increasingly view as a digital “friend”.

A history of not prioritising safety

Meta has demonstrated a willingness to prioritise growth over safety when releasing new technology features. Recent reports reveal internal concerns at Meta, where staff members warned that the company’s rush to popularise its chatbot had “crossed ethical lines” by allowing Meta AI to engage in explicit romantic role-play, even with test users who claimed to be underage.

Such decisions reveal a reckless corporate culture, seemingly still driven by the original motto of moving fast and breaking things.

Now, imagine those same values applied to an AI that knows your deepest insecurities, health concerns and personal challenges – all while having the ability to subtly influence your decisions through conversational manipulation.

The potential for harm extends beyond individual consumers. While there’s no evidence that Meta AI is being used for manipulation, it has such capacity.

For example, the chatbot could become a tool for pushing political content or shaping public discourse through the algorithmic amplification of certain viewpoints. Meta has played role in propagating misinformation in the past, and recently made the decision to discontinue fact-checking across its platforms.

The risk of chatbot-driven manipulation is also increased now that AI safety regulations are being scaled back in the United States.

Lack of privacy is a choice

AI assistants are not inherently harmful. Other companies protect user privacy by choosing to generate revenue primarily through subscriptions rather than data harvesting. Responsible AI can and does exist without compromising user welfare for corporate profit.

As AI becomes increasingly integrated into our daily lives, the choices companies make about business models and data practices will have profound implications.

Meta’s decision to offer a free AI chatbot while reportedly lowering safety guardrails sets a low ethical standard. By embracing its advertising-based business model for something as intimate as an AI companion, Meta has created not just a product, but a surveillance system that can extract unprecedented levels of personal information.

Before inviting Meta AI to become your digital confidant, consider the true cost of this “free” service. In an era where data has become the most valuable commodity, the price you pay might be far higher than you realise.

As the old adage goes, if you’re not paying for the product, you are the product – and Meta’s new chatbot might be the most sophisticated product harvester yet created.

When Meta AI says it is “built to get to know you”, we should take it at its word and proceed with appropriate caution.

Uri Gal 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. Meta’s new AI chatbot is yet another tool for harvesting data to potentially sell you stuff – https://theconversation.com/metas-new-ai-chatbot-is-yet-another-tool-for-harvesting-data-to-potentially-sell-you-stuff-255966

MIL OSI Analysis – EveningReport.nz –

May 7, 2025
MIL-Evening Report: Labor says its second term will be about productivity reform. These ideas could help shift the dial
Source: The Conversation (Au and NZ) – By Roy Green, Emeritus Professor of Innovation, University of Technology Sydney

Summit Art Creations/Shutterstock

In his victory speech, Prime Minister Anthony Albanese highlighted social policy as a major factor in Labor’s electoral success, particularly Medicare, housing and cost of living relief. He was justified in doing so.

But looking forward, Treasurer Jim Chalmers named stalled productivity growth as a top priority for the next three years:

The best way to think about the difference between our first term and the second term …[is] the first term was primarily inflation without forgetting productivity, the second term will be primarily productivity without forgetting inflation.

The government asked the Productivity Commission in December to develop five pillars of its productivity agenda and come up with actionable reforms. And for the first time, the commission went out and sought “productivity pitches” from anyone in the community.

Ahead of further reports due out later this year, those community “pitches” offer some clues about where the Albanese government might start to tackle productivity over the next three years and beyond.

Why does productivity matter?

Essentially, productivity is about working smarter, not harder. It’s about efficiency and innovation driving more output for an economy or company. Growth in productivity has been the driver of real wage growth and improved living standards since the Industrial Revolution.

However, productivity performance has slumped across most advanced economies. In Australia, growth is the slowest in 60 years. This is despite the transformative impact of the internet and digital technologies.

Explanations of the productivity slowdown are many and varied. Some have suggested the growth of the care economy and the services sector more broadly means productivity is reduced. Others wonder whether it can be measured at all in this context.

The explanation that has gained most acceptance is that productivity has increased dramatically in “frontier firms” at the cutting edge of technological change and business innovation. The problem in Australia is that we have too few frontier firms and too many “laggard” companies. The rate of new technology adoption is too slow.

This problem is made more acute by Australia’s trade and industrial structure, which is heavily weighted to resources exports rather than the knowledge-based industries of the future.

What is the Productivity Commission looking at?

This is the rationale for the Treasurer’s request in December for the Productivity Commission to identify priority reforms in five key areas. He asked for “actionable recommendations to assist governments to make meaningful and measurable productivity-enhancing reforms”.

The five pillars are:
- creating a more dynamic and resilient economy
- building a skilled and adaptable workforce
- harnessing data and digital technology
- delivering quality care more efficiently
- investing in cheaper, cleaner energy and the net zero transformation.
These are ambitious objectives, and the Productivity Commission is pursuing the review task in a different way from the past by seeking ideas directly from the community through crowd sourcing.

This is a sensible move, especially given the commission’s role in presiding over Australia’s productivity decline. Perhaps they are finally learning from failed experiments in deregulation, privatisation and contracting out.

The commission has published a selection of the 500 suggestions it received. These include research and development initatives; improving university collaboration with industry; improving management capabilities and building inclusive workplaces; and reforming skilled migration.

In the technology area, suggestions included developing internal capability and processes in the public service; making more use of artificial intelligence; and improving digital infrastructure in regional areas.

In the care economy, pharmacists could play an increased role, such as consulting on minor illnesses, while more could be invested in preventative health.

The fifth area of focus, the energy transition, produced ideas on streamlining state and federal approval processes for net zero projects; increasing fossil fuel taxes; supporting electric vehicle uptake and vehicle-to-grid technology.

The commission has said it plans to continue the consultation process and release interim reports mid-year.

Will it be enough to shift the dial?

The question remains, will these individual measures on their own, however meritorious, be sufficient to shift the dial on Australia’s productivity performance without a more comprehensive approach to innovation and industrial policy?

The government set up a “strategic examination” of research and development (R&D) in February. An interim discussion paper found links between the decline of productivity growth, the decline of business spending on R&D, and the decline of manufacturing.

In other words, reversing the productivity slowdown may not simply be a matter of boosting R&D. It will also require the revival and reinvention of manufacturing. It implies a complex sovereign capability and means for diversifying Australia’s export mix in global markets and value chains.

This is the purpose of the government’s Future Made in Australia strategy, with its twin objectives of economic resilience and net zero transition. That success in turn depends on the development of a more effective and joined up research and innovation system.

The chance was missed in the commodity boom to design and deliver overdue structural changes in the Australian economy. Instead, the productivity decline was masked by a terms-of-trade boost to our national income, thanks to higher commodity prices.

The Albanese government’s second and possibly third term in office provides another opportunity to undertake the major structural changes required to secure Australia’s future as an inclusive and dynamic knowledge-based economy. Surely this one will not be missed.

Roy Green 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. Labor says its second term will be about productivity reform. These ideas could help shift the dial – https://theconversation.com/labor-says-its-second-term-will-be-about-productivity-reform-these-ideas-could-help-shift-the-dial-255880
MIL OSI Analysis – EveningReport.nz –
May 7, 2025
MIL-Evening Report: How maximum security prison inmates and officers worked together to create a farm behind bars

Source: The Conversation (Au and NZ) – By Christian Tietz, Senior Lecturer in Industrial Design, UNSW Sydney

Macquarie Correctional Centre Media Unit

At Macquarie Correctional Centre in western New South Wales, a story of collaboration and persistence is unfolding. Inmates and prison officers are farming commercial quantities of fresh food in a purpose-built indoor facility.

One of the 400 male offenders in maximum security at Macquarie contacted me with the idea about five years ago, proposing it would form the basis of a PhD. I agreed to supervise the project.

Inmates at Macquarie Correctional Centre are encouraged to further their education and follow their interests. The approach is modelled on the Scandinavian prison system, which has the world’s lowest re-offending rates.

The project shows food gardening provides a meaningful activity for inmates, some of whom never had the opportunity to learn how to plant and grow produce.

The M Farm produces fresh produce for the on site café.
Macquarie Correctional Centre Media Unit

Why farm indoors?

The project involved farming indoors because the environment can be more carefully controlled. Being isolated from the weather means there’s no need to worry about extremes such as frosts or heatwaves.

This type of “controlled environment agriculture” is also more efficient. It requires less resources than traditional agriculture, mainly because there are fewer losses due to pests and diseases.

By controlling the amount of light, water and nutrients each plant receives, it’s possible to optimise the growing system – making it more like a plant factory than a standard greenhouse.

Inside M Farm, in the early days.
PhD student

From vision to reality

Inmates studying in prison don’t have internet access. Emails are printed out or relayed. If information needs to be viewed online it is under supervision of an authorised officer.

Despite the challenges, the student published his first conference paper in 2021 and his first academic journal article in 2023. A second article followed in 2024. The student also submitted his PhD 2024.

The project began with a research plan. Then the PhD student ran focus groups with officers and inmates in mixed groups. A series of one-on-one interviews followed.

Officers and inmates co-designed and developed the indoor farming facility. One group of inmates, trained in the in-house design office, used 3D computer aided design (CAD) software to produce technical drawings for the farm. Another group took these drawings and turned them into small-scale indoor farming prototypes.

After extensive testing, the team selected the best prototype and developed the full-scale project, known as M Farm.

The student won a competitive grant of A$50,000 from the NSW Department of Communities and Justice Innovation Fund. This funded construction of the farm.

Another grant from the University of NSW supported a solar-powered food waste composting machine. The machine converts daily food waste from the entire prison into organic fertiliser. This means less food waste is sent to landfill, saving costs and reducing emissions.

Produce from the farm is used in the prison café. Since November 2023, the farm has supplied about $3,500 worth of produce to the café.

Last year, about 30 items were entered in the local agricultural show. M Farm won first place in the district for best fresh produce.

M Farm has grown award-winning fresh produce.
Macquarie Correctional Centre Media Unit

Cooperation is key to success

Inmates ran the project and enjoyed tangible benefits such as access to fresh produce and a sense of accomplishment and pride.

The project proved inmates can be productive without constant oversight. Similar results were achieved in a community-based vegetable gardening initiative in Girona, Spain, where residents formed an intensive farming cooperative without local council administration.

The prison officers also benefited from being part of the process and took pride in the results. They also shared the benefits in the on-site café, which is open to both inmates and prison staff.

This experiment provides further evidence that engagement and collaboration through co-design can lead to social learning, or “informal mutual learning”.

Empowering co-designers enables the development of solutions beyond initial expectations. The best approach is arming people with the skills they need to actively engage and co-lead in the decision-making processes.

Tasty and nutritious leafy greens grow in the front garden at M Farm.
Christian Tietz

Make it grow

The PhD thesis includes a co-design tool kit that other prisons worldwide can follow. Given the global prison population exceeds 11 million people, this presents an opportunity to develop a broad-scale sustainability initiative.

Farming fresh produce in prisons has the potential to improve nutrition and wellbeing. It also offers environmental benefits such as producing compost, reducing waste and cutting greenhouse gas emissions.

Such projects also have the potential to give inmates confidence and hope, and provides them with skills and knowledge that can benefit the community after their release.

Christian Tietz 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. How maximum security prison inmates and officers worked together to create a farm behind bars – https://theconversation.com/how-maximum-security-prison-inmates-and-officers-worked-together-to-create-a-farm-behind-bars-244962

MIL OSI Analysis – EveningReport.nz –

May 7, 2025

Category: Business

Bank interest rates for corporations

Chart 1

Table 1

Bank interest rates for households

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Table 2

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