Category: Business

  • MIL-Evening Report: In its soul-searching, Australia’s rightist coalition should examine its relationship with the media

    ANALYSIS: By Matthew Ricketson, Deakin University and Andrew Dodd, The University of Melbourne

    Among the many lessons to be learnt by Australia’s defeated Liberal-National coalition parties from the election is that they should stop getting into bed with News Corporation.

    Why would a political party outsource its policy platform and strategy to people with plenty of opinions, but no experience in actually running a government?

    The result of the federal election suggests that unlike the coalition, many Australians are ignoring the opinions of News Corp Australia’s leading journalists such as Andrew Bolt and Sharri Markson.

    Last Thursday, in her eponymous programme on Sky News Australia, Markson said:

    For the first time in my journalistic career I’m going to also offer a pre-election editorial, endorsing one side of politics […] A Dutton prime ministership would give our great nation the fresh start we deserve.

    After a vote count that sees the Labor government returned with an increased majority, Bolt wrote a piece for the Herald Sun admonishing voters:

    No, the voters aren’t always right. This time they were wrong, and this gutless and incoherent Coalition should be ashamed. Australians just voted for three more years of a Labor government that’s left this country poorer, weaker, more divided and deeper in debt, and which won only by telling astonishing lies.

    That’s staggering. If that’s what voters really like, then this country is going to get more of it, good and hard.

    The Australian and most of News’ tabloid newspapers endorsed the coalition in their election eve editorials.

    Repudiation of minor culture war
    The election result was a repudiation of the minor culture war Peter Dutton reprised during the campaign when he advised voters to steer clear of the ABC and “other hate media”. It may have felt good alluding to “leftie-woke” tropes about the ABC, but it was a tactical error.

    The message probably resonated only with rusted-on hardline coalition voters and supporters of right-wing minor parties.

    But they were either voting for the coalition, or sending them their preferences, anyway. Instead, attacking the ABC sent a signal to the people the coalition desperately needed to keep onside — the moderates who already felt disappointed by the coalition’s drift to the right and who were considering voting Teal or for another independent.

    Attacking just about the most trusted media outlet in the country simply gave those voters another reason to believe the coalition no longer represented their values.

    Reporting from the campaign bus is often derided as shallow form of election coverage. Reporters tend to be captive to a party’s agenda and don’t get to look much beyond a leader’s message.

    But there was real value in covering Dutton’s daily stunts and doorstops, often in the outer suburbs that his electoral strategy relied on winning over.

    What was revealed by having journalists on the bus was the paucity of policy substance. Details about housing affordability and petrol pricing — which voters desperately wanted to hear — were little more than sound bites.

    Steered clear of nuclear sites
    This was obvious by Dutton’s second visit to a petrol station, and yet there were another 15 to come. The fact that the campaign bus steered clear of the sites for proposed nuclear plants was also telling.

    The grind of daily coverage helped expose the lateness of policy releases, the paucity of detail and the lack of preparation for the campaign, let alone for government.

    On ABC TV’s Insiders, the Nine Newspapers’ political editor, David Crowe, wondered whether the media has been too soft on Dutton, rather than too hard as some coalition supporters might assume.

    He reckoned that if the media had asked more difficult questions months ago, Dutton might have been stress-tested and better prepared before the campaign began.

    Instead, the coalition went into the election believing it would be enough to attack Labor without presenting a fully considered alternative vision. Similarly, it would suffice to appear on friendly media outlets such as News Corp, and avoid more searching questions from the Canberra press gallery or on the ABC.

    Reporters and commentators across the media did a reasonable job of exposing this and holding the opposition to account. The scrutiny also exposed its increasingly desperate tactics late in the campaign, such as turning on Welcome to Country ceremonies.

    If many Australians appear more interested in what their prospective political leaders have to say about housing policy or climate change than the endless culture wars being waged by the coalition, that message did not appear to have been heard by Peta Credlin.

    The Sky News Australia presenter and former chief-of-staff to prime minister Tony Abbott said during Saturday night’s election coverage “I’d argue we didn’t do enough of a culture war”.

    Dr Matthew Ricketson is professor of communication, Deakin University and Andrew Dodd  is professor of journalism and director of the Centre for Advancing Journalism, The University of Melbourne. This article is republished from The Conversation under a Creative Commons licence. Read the original article.

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: Oma Savings Bank Plc’s Interim Report 1.1.-31.3.2025: High costs and declining market interest rates weighed on the result, work to strengthen OmaSp continues

    Source: GlobeNewswire (MIL-OSI)

    OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE 5 MAY 2025 AT 9.45 A.M. EET, INTERIM REPORT Q1

    Oma Savings Bank Plc’s Interim Report 1.1.-31.3.2025: High costs and declining market interest rates weighed on the result, work to strengthen OmaSp continues

    This release is a summary of Oma Savings Bank’s (OmaSp) January-March 2025 Interim Report, which can be read from the pdf file attached to this stock exchange release and on the Company’s web pages www.omasp.fi

    CEO Karri Alameri: High costs and declining market interest rates weighed on the result, work to strengthen OmaSp continues

    ”I had the honour of starting as the CEO of Oma Savings Bank at the end of March. In recent weeks, I have engaged with the bank’s personnel, customers, and stakeholders across Finland. These discussions have underscored OmaSp’s strong customer relationships, employee commitment, as well as comprehensive range of services, and personalised service model. These elements provide a solid foundation for OmaSp’s next phase. It is clear that we must continue refining our policies and evolving our ways of working. Trust in the Company is rebuilt through actions.

    The comparable profit before taxes for the first quarter was EUR 4.6 million and the comparable cost/income ratio of 54.4%. Profit and profitability were burdened by increased operating and personnel expenses, as well as lower net interest income due to declining market interest rates.

    The increase in costs is primarily attributed to the implementation of the risk management action plan (the “Noste”) initiated in summer 2024. The final investments in the project were made as planned in the first quarter, and new operating models are being integrated into daily operations. Total investments in the Noste project reached EUR 9.1 million over its duration. What is more, we continue to act on the findings of the supervisory assessment.

    Net interest income decreased by 18.3% compared to the comparison period, totalling EUR 46.9 million. The decline is due to fallen market interest rates. The volumes transferred from Handelsbanken have contributed to the development of net interest income as market interest rates have declined.

    Fee and commission income and expenses (net) remained nearly at the level of the comparison period, amounting to EUR 14.7 million.

    The mortgage loan portfolio increased by 3.0%, the corporate loan portfolio by 0.4%, and the deposit base by 2.7% from the level of the previous year.

    Impairment losses on financial assets totalled EUR -22.3 million in January–March. Approximately one-third was related to the update of the calculation model for expected credit losses (ECL), another third to increased allowances in the portfolio, which is being wound down in a controlled manner, and the remaining third to other impairment losses on the loan portfolio due to the general uncertain economic situation.

    Additionally, a provision of EUR 3.0 million was made for the first quarter to prepare for potential sanctions from the Finnish Financial Supervisory Authority (FIN-FSA) due to deficiencies identified in the final inspection report on the prevention of money laundering and terrorist financing. The FIN-FSA’s audit covered the period prior to December 2023. Measures to rectify the deficiencies were initiated while the audit was underway last year.

    Customer and employee satisfaction at an excellent level

    Following the Handelsbanken acquisition, we gained 10,000 new customers last autumn, and the integration has progressed smoothly. We have 48 branches covering all key growth and regional centres in Finland. In January–March, approximately 800 new customer relationships were established organically per month. OmaSp has a strong customer base of over 200,000. We are committed to offering services to households and SMEs across our network.

    Our customer and employee surveys indicated that satisfaction has remained at the excellent level of previous years. I want to extend my gratitude to our personnel for their exemplary work. Committed and motivated personnel are crucial to OmaSp’s future success.

    OmaSp’s financial position is stable, with a good solvency and liquidity position. The total capital (TC) ratio further strengthened to 17.7% at the end of March. The accumulated equity exceeds EUR 583 million.

    I look to the future with confidence. We will continue to develop our operations, invest in our core business, and strengthen the customer experience for both existing and new customers. Our strategy aims for profitable growth.”

    January–March 2025

    • In January–March, net interest income decreased by 18.3% compared with the same period last year. Net interest income totalled EUR 46.9 (57.4) million.
    • Mortgage portfolio increased by 3.0% during the previous 12 months. Corporate loan portfolio increased by 0.4% during the previous 12 months.
    • Deposit base increased by 2.7% over the past 12 months.
    • From January to March, fee and commission income and expenses (net) decreased mainly due to lower lending commissions compared to the comparison period, 2.6%.
    • From January to March, total operating income decreased by 18.9% compared to the comparison period. In the first quarter, comparable total operating income decreased by 19.8% and was EUR 59.5 (74.3) million.
    • From January to March, total operating expenses grew in total by 31.9%. The growth is mainly explained by the costs of the Company’s ongoing extensive risk management development projects, the authority processes and the promotion of a controlled winding down plan related to the non-compliance with the guidelines. In addition, the number of personnel increased compared to the comparison period due to business arrangements, the opening of new branches and the strengthening of the risk management processes. Other operating expenses were in total EUR 22.2 (16.4) million, of which the development costs of the risk management action plan and investigation costs amounted to EUR 5.3 million.
    • Comparable total operating expenses grew by 27.9% in the first quarter and were EUR 32.2 (25.2) million. Of this amount the risk management action plan (the ”Noste”) amounted to EUR 3.3 million. The measures implemented in the first quarter completed the action plan initiated in the summer of 2024.
    • For January-March, the impairment losses on financial assets were in total EUR -22.3 (-23.1) million. During the reporting period, the Company updated the calculation model for expected credit losses (ECL) as part of a larger operational programme and development of risk control. The total impact of the updated model increased the ECL by approximately EUR 8.5 million. In addition, the amount of impairment losses was impacted by an increase in allowances in the controlled winding down of the portfolio, which had an impact of approximately EUR 5.7 million. In other credit portfolio, impairment losses amounted to approximately EUR 8.1 million, and the development was particularly affected by the overall economic uncertainty.
    • For January-March, profit before taxes was EUR 3.1 (24.7) million and comparable profit before taxes was EUR 4.6 (25.6) million.
    • In the first quarter, cost/income ratio was 57.4 (35.2)% and comparable cost/income ratio was 54.4 (34.1)%.
    • In the first quarter, comparable return on equity (ROE) was 2.5 (15.5)%.
    • Total capital (TC) ratio was 17.7 (15.6)%.
    The Group’s key figures (1,000 euros) 1–3/2025 1–3/2024 Δ % 1–12/2024
    Net interest income 46,880 57,369 -18 % 213,097
    Fee and commission income and expenses, net 12,439 12,766 -3 % 50,745
    Total operating income 60,074 74,080 -19 % 270,068
    Total operating expenses -34,240 -25,958 32 % -111,004
    Impairment losses and financial assets, net -22,322 -23,112 -3% -83,379
    Profit before taxes 3,111 24,668 -87% 74,589
    Cost/income ratio, % 57.4% 35.2% 63% 41.3%
    Balance sheet total 7,517,814 7,531,291 0% 7,709,090
    Equity 583 026 527 426 11% 576,143
    Return on assets, ROA % 0.1 % 1.0 % -88 % 0.8%
    Return on equity, ROE % 1.7 % 14.9 % -89% 10.7%
    Earnings per share (EPS), EUR 0.07 0.60 -88% 1.80
    Total capital (TC), % 17.7% 16.9% 5% 15.6%
    Common equity Tier 1 (CET1), capital ratio % 16.5% 15.4% 8% 14.4%
    Comparable profit before taxes 4,617 25,626 -82% 86,656
    Comparable cost/incme ratio, % 54.4% 34.1% 60% 37.8%
    Comparable return on equity, ROE % 2.5% 15.5% -84% 12.4%


    Outlook for the financial year 2025 adjusted

    OmaSp updated its expected credit loss (ECL) calculation model in the first quarter and made a provision to prepare for possible sanctions following the final inspection report from the FIN-FSA on anti-money laundering and terrorist financing. These had a total one-off impact of approximately EUR -11 million on the results. Overall economic uncertainly has further increased. Therefore, OmaSp maintains its earnings guidance on the Group’s comparable profit before taxes to be EUR 65–80 million for the financial year 2025, with a clarification that the figure is expected to be below the mid-point of the range.

    Business outlook and earnings guidance are as follows:

    The outlook for the Company’s business for the financial year 2025 is affected by the decline in market interest rates and the continued high level of costs due to IT investments and system improvements required by risk management and quality processes. In addition, the Company continues to invest in customer experience on different channels. The uncertainty of the operating environment and economic situation affects the development of balance sheet items and comparable profit for the financial year 2025.

    Oma Savings Bank Plc provides earnings guidance on comparable profit before taxes for 2025. Earnings guidance is based on the forecast for the entire year, which takes into account the current market and business situation. Forecasts are based on the management’s insight into the Group’s business development.

    We estimate the Group’s comparable profit before taxes to be EUR 65–80 million for the financial year 2025, with a clarification that the figure is expected to be below the mid-point of the range (comparable profit before taxes was EUR 86.7 million in the financial year 2024).

    Oma Savings Bank Plc

    Additional information:
    Karri Alameri, CEO, tel. +358 45 656 5250, karri.alameri@omasp.fi

    DISTRIBUTION: 
    Nasdaq Helsinki Ltd
    Major media
    www.omasp.fi

    OmaSp is a solvent and profitable Finnish bank. About 500 professionals provide nationwide services through OmaSp’s 48 branch offices and digital service channels to over 200,000 private and corporate customers. OmaSp focuses primarily on retail banking operations and provides its clients with a broad range of banking services both through its own balance sheet as well as by acting as an intermediary for its partners’ products. The intermediated products include credit, investment and loan insurance products. OmaSp is also engaged in mortgage banking operations.

    OmaSp core idea is to provide personal service and to be local and close to its customers, both in digital and traditional channels. OmaSp strives to offer premium level customer experience through personal service and easy accessibility. In addition, the development of the operations and services is customer-oriented. The personnel is committed and OmaSp seeks to support their career development with versatile tasks and continuous development. A substantial part of the personnel also own shares in OmaSp.

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  • MIL-OSI: Karolinska Development’s portfolio company Umecrine Cognition receives grant from The Michael J. Fox Foundation

    Source: GlobeNewswire (MIL-OSI)

    STOCKHOLM, SWEDEN – May 5, 2025. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company Umecrine Cognition has been awarded a research grant by The Michael J. Fox Foundation (MJFF) amounting to USD 420,000. The grant will finance preclinical studies to evaluate the potential treatment effect of golexanolone in Parkinson’s disease.

    Umecrine Cognition is developing a new class of drugs to alleviate cognitive symptoms. The company’s drug candidate golexanolone has demonstrated a positive impact on non-motor symptoms, such as sleep disorders and cognitive impairments, in preclinical models of Parkinson’s disease. The grant from The Michael J. Fox Foundation will support further preclinical studies to confirm golexanolone’s treatment effect on Parkinson’s-related sleep dysfunction and cognitive impairments, as well as evaluate the drug candidate’s effect on disease progression in several disease models.

    The grant is awarded to the collaboration between Umecrine Cognition and the principal investigator, Professor Gilberto Fisone Head of the Laboratory of Molecular and Circuit Neuropharmacology, and Chair of the Department of Neuroscience, at Karolinska Institutet, Solna, Sweden.

    Parkinson’s disease is a progressive neurodegenerative disease most noticeably characterized by deteriorating motor functions. However, non-motor symptoms, such as sleep disorders and cognitive impairments, emerge before the onset of physical symptoms and have, historically, been overlooked due to a lack of scientific and clinical insights. While current treatments target motor dysfunction, there are no approved pharmaceutical therapies for non-motor symptoms.

    “The Michael J. Fox Foundation is the world’s largest non-profit funder of Parkinson’s research, and the grant represents a significant acknowledgment and validation of golexanolone’s potential in treating this progressive and life-restricting disease. The funding enables further research on golexanolone as a novel treatment option for non-motor symptoms in Parkinson’s Disease, an area with high medical need,” says Johan Dighed, General Counsel and Deputy CEO, Karolinska Development.

    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.

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  • MIL-OSI Europe: ECB partners with private sector through digital euro innovation platform

    Source: European Central Bank

    5 May 2025

    • ECB establishes an innovation platform with around 70 market participants on new platform
    • Participants to test digital euro payment functionalities and explore innovative use cases
    • Findings to be shared in report later this year

    The European Central Bank (ECB) has established an innovation platform to collaborate with European stakeholders in the context of the digital euro project. almost 70 market participantsincluding merchants, fintech companies, start-ups, banks and other payment service providers – have signed up to work with the ECB to explore digital euro payment functionalities and use cases. Following a call for interest published in October 2024, the ECB received over 100 applications from around 70 participants, who joined one or both of the workstreams “pioneers” and “visionaries”.

    The innovation platform simulates the envisaged digital euro ecosystem, in which the ECB provides the technical support and infrastructure for European intermediaries to develop innovative digital payment features and services at European level.

    The pioneers workstream is investigating how conditional payments in digital euro (i.e. transactions that are made automatically when predefined conditions are met, such as the delivery of a package bought online) could be implemented from a technical standpoint. It is also developing potential use cases for day-to-day payments.

    Pioneers will be exploring how to integrate the simulated digital euro interfaces with their platforms. The ECB is providing participants with technical support and specifications, such as an application programming interface, to conduct independent work on use cases of their choice. Pioneers will summarise their findings in a report, which the ECB will review thoroughly to inform its work on the digital euro project.

    The visionaries workstream is conducting research on new digital euro use cases and how they could help address societal challenges, such as digital financial inclusion. For instance, the ability to open a digital euro wallet in any post office could guarantee free access to digital euro services, even for people without a bank account or access to digital devices.

    Visionaries will share and discuss their proposals with the ECB in dedicated workshops that will run until May 2025.

    “We welcome the huge amount of interest that market participants have shown in this exciting initiative,” said Executive Board member Piero Cipollone. “The breadth and creativity of the proposals highlights the digital euro’s potential as a catalyst for financial innovation in Europe, including the development of new solutions that further enhance the payment experience for Europeans and create market opportunites”.

    Findings from both workstreams will be published by the ECB in a report to be published later this year.

    For media queries, please contact Alessandro Speciale, tel.: +49 172 167 0791

    MIL OSI Europe News

  • MIL-OSI: Solargik launches SOMA Pro, the next generation of its AI-powered platform for intelligent solar tracking, diagnostics, and control at Intersolar 2025

    Source: GlobeNewswire (MIL-OSI)

    • SOMA Pro is a fully integrated software and hardware system that delivers real-time visibility and full remote control.
    • AI-driven optimization: Proprietary algorithms increase yield and proactively prevent losses.
    • Ground-truth loss attribution: In-house model recovers up to 6% in lost energy by pinpointing exact performance gaps.
    • End-to-end SCADA visibility: SOMA Pro unifies tracker behavior, site production, and inverter-level diagnostics.

    Munich, May 5, 2025 (8:30 AM CET) – Solargik, a global pioneer in photovoltaic energy solutions headquartered in Jerusalem, today announced the launch of SOMA Pro, the next generation of its intelligent monitoring and control platform, at Intersolar 2025. SOMA Pro is the first tracker-native software system that fully integrates monitoring, diagnostics, and performance control – enabling operators to increase yield, reduce downtime, and unlock deeper insights into plant operations.

    SOMA Pro, Solargik’s AI-powered platform, is built into the core of the company’s own tracker hardware, drawing on live-data from motion control, site-wide sensors, power meters, and inverter systems. Its integrated design breaks down silos common to third-party SCADA systems or bolt-on controls and provides operators with real-time visibility and full remote control over tracker positioning, energy flow, and site-wide performance. Optimized for complex terrains and light conditions, SOMA Pro allows precise management of energy production – whether remotely stowing the site or fine-tuning behavior at the single tracker level.

    “With SOMA Pro, we’ve redefined how solar installations can be managed – especially in environments where traditional systems fall short,” said Gil Kroyzer, Solargik’s CEO. “By combining our lightweight tracker technology with an intelligent control system designed in-house, we offer a level of adaptability, insight, and flexibility that helps operators extract more value from every site.”

    Integrated architecture for unmatched reliability

    SOMA Pro is Solargik’s own proprietary SCADA platform that seamlessly integrates production monitoring, tracker configuration, and component diagnostics. This unified architecture reduces operational complexity, improves site stability, and eliminates the data blind spots that plague third-party monitoring tools.

    AI-driven optimization: Proprietary loss attribution with actionable results

    At the heart of SOMA Pro is Solargik’s in-house AI performance model, capable of identifying and quantifying energy loss down to specific rows or components. Leveraging advanced machine learning algorithms, the platform achieves detection accuracy exceeding 95%, enabling operators to recover up to 6% in lost energy. Its predictive analytics support targeted maintenance and strengthen EPC contractor collaboration – protecting long-term asset value.

    Real-time operational intelligence, not just monitoring

    Learning from real site conditions, SOMA Pro continuously optimizes tracker positioning based on dynamic elements of the solar plant, such as irradiance, cloudiness, wind speed and topography. Through a cloud-based interface, operators gain full command of tracker tilt, stow modes (manual or automatic), and production status – from the entire site down to an individual tracker or inverter – enabling faster response to changing conditions and improved energy yield.

    Intersolar launch and media availability

    Solargik will officially debut SOMA Pro at Intersolar 2025. Journalists and analysts can schedule executive briefings and live demonstrations by contacting the Solargik media relations team or requesting a meeting here.

    About Solargik

    Solargik is a global leader in photovoltaic tracking and energy management, specializing in intelligent, terrain-adaptive solar systems that deliver strong performance in complex and constrained environments. Its lightweight, single-axis trackers are engineered for maximum efficiency on slopes up to 30% and in agrivoltaic applications. Powered by the proprietary SOMA Pro SCADA platform, Solargik provides integrated control, real-time diagnostics, predictive automation, and performance optimization. Field-proven across more than 100 projects globally, Solargik helps operators maximize output, reduce costs, and unlock the full potential of every site. Founded by solar industry veterans, Solargik is committed to advancing smarter, more adaptable solutions for the future of renewable energy.

    www.solargik.com

    HEAD OFFICES
    48 Emek Refaim St.
    Jerusalem 9314205
    Israel

    MEDIA RELATIONS — GLOBAL
    Eliav Rodman
    Solargik
    eliavr@solargik.com

    MEDIA RELATIONS — EUROPE
    Giovanni Ca’ Zorzi
    Cohesion Bureau
    giovanni.cazorzi@cohesionbureau.com
    +33 7 84 67 07 27

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  • MIL-OSI Economics: Insurance and pension companies now purchase European stocks

    Source: Danmarks Nationalbank

    Insurance and pension

    Statistics period: March 2025

    Danish insurance and pension companies purchased European listed stocks for kr. 21 billion in the first quarter of the year. They mainly bought Danish, German, and French shares, but also a significant portion of British and Swiss shares. In recent years, the companies have primarily purchased US shares, but in the first quarter of 2025 the purchase has been reversed to a sale of nearly kr. 5 billion. The total sale of US shares reflects that some companies sold shares while others bought shares. US shares still make up the largest portion, 53 per cent, of the companies’ total listed equity portfolio of kr. 1,320 billion, while European shares account for 29 per cent.



    Largest purchase of listed European stocks since 2018

    Note:

    The quarterly net purchases of publicly traded stocks by insurance and pension companies, distributed between Europe and the USA. Danish investment funds have been looked through, such that the pension companies’ equity and bond investments through these funds are included.

    MIL OSI Economics

  • MIL-Evening Report: Is it dangerous to kiss someone who’s eaten gluten if you have coeliac disease?

    Source: The Conversation (Au and NZ) – By Vincent Ho, Associate Professor and Clinical Academic Gastroenterologist, Western Sydney University

    Lordn/Shutterstock

    Coeliac disease is not a food allergy or intolerance. It’s an autoimmune disease that makes the body attack the small intestine if gluten (a protein found in wheat, rye and barley) reaches the gut. Even a small amount – a tiny bread crumb – can cause damage and inflammation.

    The only treatment is a gluten-free diet. This means completely eliminating foods containing the protein, such as pasta, bread, noodles and many processed products, and preparing food carefully to avoid cross-contamination.

    But what about other forms of cross-contamination? One study surveyed 538 adults with coeliac disease about their dating habits and found 39% were hesitant to kiss their partners because of the disease.

    But can gluten really be transferred this way, with a kiss? Research is only just beginning to look at this question – here’s what we know.

    How harmful is gluten for people with coeliac disease?

    Coeliac disease is common: surveys representative of the population estimate it affects one in 70 Australians. However, it tends to be under-diagnosed. Research suggests only 20% of those with coeliac disease have a medical diagnosis.

    This means most sufferers are unaware they have coeliac disease, despite experiencing unpleasant symptoms.

    When untreated, coeliac disease can stop the small intestine absorbing nutrients and lead to gut symptoms such as diarrhoea, abdominal pain, bloating and flatulence. It can also result in non-gut symptoms such as fatigue, skin rashes and brain fog.

    However, touching gluten won’t have any effect. Gluten only causes damage to people with coeliac disease if it enters the gut. This is why it can be effectively treated with a strict gluten-free diet.

    How much gluten is harmful?

    Researchers have investigated how much gluten can result in harm to people with coeliac disease. One study found some people with coeliac disease experienced damage to their small intestine with as little as 10 milligrams of gluten per day.

    For context, one slice of bread contains 2.5 grams of gluten. A very small amount can cause damage if eaten, such a tiny crumb accidentally transferred from a chopping board or plate.

    Australian researchers have determined that a dose of gluten below 3mg does not cause an immune response on very sensitive blood tests.

    Even a bread crumb can be harmful to people with coeliac disease, if it’s eaten.
    Master1305/Shutterstock

    Food regulatory authorities look at how much gluten is concentrated in particular foods to decide what is “gluten free”. In most countries a diet containing gluten at less than 20 parts per million (or 20mg per kilogram) is considered to be safe for people with coeliac disease.

    But Australia and New Zealand have much stricter requirements for labelling a food as “gluten free”. Testing methods in Australia allow for detection as low as three parts per million – this is known as the “limit of detection”. Foods below this limit contain no detectable gluten and can be labelled gluten free.

    So, what about kissing?

    What does this mean for kissing? Can enough gluten be transmitted from one person to another via saliva to cause problems? To date, there is very limited data.

    New US research presented today looked at ten couples, each with one partner who had coeliac disease.

    In the study, the non-coeliac partner ate ten crackers containing gluten before the couple kissed for ten seconds.

    The researchers found gluten transfer was minimal in the saliva. When the non-coeliac partner had a glass of water after eating the crackers, the gluten in their saliva was less than 20 parts per million (the international limit for gluten-free products).

    While this data has not yet been peer-reviewed, their preliminary finding seems to support similar research from 2022 which looked at peanut allergy and saliva to estimate gluten levels in saliva.

    It estimated that saliva after eating gluten could contain around 250 micrograms of gluten – one-twelfth of the minimum amount (3mg) believed to cause an immune response.

    This means, for people with coeliac disease, kissing should not be an issue to worry about.

    Cross-contamination from foods containing gluten is the biggest risk for people with coeliac disease.
    Jacob Lund/Shutterstock

    Other risks

    The bigger risk for people with coeliac disease continues to be exposure to gluten from food – even food labelled “gluten free”.

    One study found seven out of 256 manufactured food products sold as gluten free had detectable levels of gluten, in some cases as much as 3mg in a single serving.

    In 2018 another study found almost 10% of food sold as gluten free at cafes and restaurants across Melbourne actually contained gluten. One food sample contained a gluten concentration of more than 80 parts per million.

    Still, given Australia has strictest regulations in the world, the risk of getting sick from eating gluten-free foods is quite low.

    The risk from kissing? Even lower.

    If you want to look out for your loved one with coeliac disease, how you prepare food is more important. This includes preventing cross-contamination by storing and preparing gluten-free foods well away from foods containing gluten, and thoroughly cleaning equipment and utensils after they’ve been in contact with food containing gluten.

    And next time you’re on a date at your favourite eatery – whether they advertise as gluten free, or just have gluten-free items on the menu – it’s a good idea to politely ask about their food handling practices.

    Vincent Ho 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. Is it dangerous to kiss someone who’s eaten gluten if you have coeliac disease? – https://theconversation.com/is-it-dangerous-to-kiss-someone-whos-eaten-gluten-if-you-have-coeliac-disease-255721

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: 25/2025・Trifork Group: Weekly report on share buyback

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 25 / 2025
    Schindellegi, Switzerland – 5 May 2025


    Trifork Group: Weekly report on share buyback

    On 28 February 2025, Trifork initiated a share buyback program in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and Commission Delegated Regulation (EU) 2016/1052, (Safe Harbour regulation). The share buyback program runs from 4 March 2025 up to and including no later than 30 June 2025. For details, please see company announcement no. 7 of 28 February 2025.

    Under the share buyback program, Trifork will purchase shares for up to a total of DKK 14.92 million (approximately EUR 2 million). Prior to the launch of the share buyback, Trifork held 256,329 treasury shares, corresponding to 1.3% of the share capital. Under the program, the following transactions have been made:

    Date       Number of shares        Average purchase price (DKK)        Transaction value (DKK)
    Total beginning 66,897 85.22 5,701,099
    28 April 2025 1,082 88.61 95,876
    29 April 2025 1,800 89.18 160,524
    30 April 2025 1,700 90.50 153,850
    1 May 2025 1,700 90.48 153,816
    2 May 2025 1,500 91.93 137,895
    Accumulated 74,679 85.74 6,403,060

    A detailed overview of the daily transactions can be found here: https://investor.trifork.com/trifork-shares/

    Since the share buyback program was started on 4 March 2025, the total number of repurchased shares is 74,679 at a total amount of DKK 6,403,060.
    On 25 March and on 25 April 2025, 2,929 shares acquired through the share buyback program were utilized for the Executive Management’s monthly fixed salary, representing a change from cash payment to payment partly in shares (refer to company announcement no. 1 of 21 January 2025).
    On 1 April 2025, 19,943 shares acquired through the share buyback program were utilized to serve the RSU plan of Executive Management and certain employees.

    With the transactions stated above, Trifork holds a total of 308,136 treasury shares, corresponding to 1.6%. The total number of registered shares in Trifork is 19,744,899. Adjusted for treasury shares, the number of outstanding shares is 19,436,763.

    Investor and media contact
    Frederik Svanholm, Group Investment Director & Head of Investor Relations
    frsv@trifork.com, +41 79 357 73 17

    About Trifork
    Trifork is a pioneering global technology partner, empowering enterprise and public sector customers with innovative solutions. With 1,229 professionals across 73 business units in 16 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Labs, the Group’s R&D hub, drives innovation by investing in and developing synergistic and high-potential technology companies. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

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  • MIL-OSI: Aktsiaselts Infortar interim report for Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    Aktsiaselts Infortar interim report for Q1 2025

    Infortar will arrange a webinar for investors today 5 May 2025.Please join the webinar via the following links:

    Estonia’s largest investment holding company, Infortar, increased its turnover by 20% in the first quarter of the year compared to the same period last year, reaching €447 million. The group’s total assets nearly doubled to €2.6 billion, while investments tripled to €22 million. In recent years, Infortar has nearly doubled the size of its real estate portfolio and is actively expanding across multiple sectors.

    Since August 1st of last year, the results of Tallink, a group company, have been consolidated into Infortar’s financial statements. Due to the highly seasonal nature of the maritime transport business, Tallink’s first-quarter loss of €33 million was reflected in Infortar’s own results. An additional impact came from a €1.7 million income tax expense, resulting in a total net loss of €14.6 million for Infortar in the first quarter, of which €4.5 million was attributable to Infortar’s shareholders. The energy business was affected by an exceptionally warm winter and lower consumption, but remained profitable overall. The real estate segment, meanwhile, showed significant year-on-year growth in volumes. 

    “The economy stands on three pillars – agriculture, industry, and services. In recent years, Infortar has expanded its presence across all three to achieve its goals and diversify risk. Moreover, we have grown into a market leader in each,” said Ain Hanschmidt, Chairman of the Management Board of Infortar.

    “The performance of Tallink had the biggest impact on Infortar’s first-quarter profitability. In addition to typical seasonality, passenger numbers in the first quarter reflected the state of the core markets’ economies and low consumer confidence. Still, it is important to note that the most challenging period of the year is now behind Tallink, and the outlook is more optimistic,” Hanschmidt added.

    “The energy business was affected by an exceptionally mild winter, lower consumption, and a gas surplus. Nevertheless, the segment remained profitable, primarily due to well-placed investments in gas distribution networks in Latvia and Poland. In real estate, we continued rapid growth – over the past year, we have expanded our portfolio by nearly 50%, becoming one of the largest property owners in the Baltics,” said Hanschmidt.

    “Despite a turbulent environment, Infortar continues to grow as one of the largest investment companies on the eastern coast of the Baltic Sea, actively seeking new investment opportunities. Our balance sheet strength is the key indicator of resilience – Infortar’s financial position and liquidity remain solid, free liquidity is €153 million enabling us to generate cash and invest. We can also confirm our continued commitment to the stated dividend policy. Diversification across sectors and countries has created a strong platform that provides confidence even in volatile times,” Hanschmidt concluded.

    Major Event

    Maritime transport

    Tallink´s first quarter of 2025 was impacted by low consumer and business confidence levels, the economic challenges in the Group’s core markets and global geopolitical tensions. As at the end of the quarter, the Group operated 14 vessels including 2 shuttle vessels, 6 passenger vessels, 2 vessels that were chartered out and 4 vessels that were in lay-up.

    During the quarter Tallink´s total investments amounted to EUR 13.3 million majority of which were made to upgrading the cruise ferries Baltic Princess and Silja Serenade. The planned maintenance works totalling 68 days in the first quarter of 2025 affected the passenger and cargo levels in Finland-Sweden routes.

    Energy

    In the first quarter, natural gas consumption in the Finnish-Baltic region totalled 15,0 TWh, decreasing by 19% compared with the previous year (16,5 TWh). Energy sales were negatively impacted by higher-than-average temperatures, which reduced the demand for natural gas.

    In the first quarter of 2025, Elenger Grupp sold a total of 4.6 TWh of energy (compared to 6,1 TWh in Q1 2024). Sales in Estonia accounted for 17% of the energy sales in Q1 2025. The company´s market share decreased in Q1 2025 to 20,0% in the Finland-Baltic gas market.

    Real estate

    At the end of last year, the Rimi logistics center in Saue municipality received its usage permit; this summer, the new bridge in Pärnu will be completed, and next year, DEPO will open its second store in Estonia, located in Lasnamäe.

    Key financial figures

    Key figures Q1 2025 Q1 2024 12 months 2024
    Sales revenue. m€ 447.357 372.584 1 371.775
    Gross profit. m€ 26.068 50.004 128.628
    EBITDA. m€ 27.661 74.004 145.275
    EBITDA margin (%) 6.2% 19.9% 10.6%
    Net profit. EBIT. m€ -0.655 67.624 77.024
    Total profit(-loss). m€ -14.561 62.062 193.670
    Net profit (-loss) holders of the Parent m€ -4.479 62.167 191.253
    EPS (euros)* -0.2 3.1 9.6
    Total equity m€ 1 181.002 820.210 1 166.222
    Total liabilities m€ 1 105.305 852.690 1 223.287
    Net debt m€ 952.397 195.799 1 055.708
    Investment loans to EBITDA (ratio)** 3.3x 1.5x 3.0x

    Notes:*For the earnings per share (EPS) calculation, the number of shares as of 31.03.35 has been used for comparability. Formula: profit/loss attributable to Infortar shareholders divided by the number of shares, excluding own shares issued under the stock option program. Example calculation based on the end of Q1 2024: (191 x 1,000,000) / (20,443,629 – 722,610).**Investment loans / EBITDA, annualized. For comparability,actualEBITDA of Tallink Grupp for the relevant period has been used, based on Tallink Grupp quarterly report.

    Revenue

    In the first quarter of the 2025 financial year, the Group’s consolidated revenue increased by EUR 74.7 million to EUR 447.4 million (Q1 2024 consolidated revenue: EUR 372.6 million). A significant impact came from the consolidation of Tallink Grupp’s results into Infortar’s consolidated financial statements as of 1 August 2024.

    EBITDA and Segment Reporting
    In the first quarter of the 2025 financial year, the EBITDA of the maritime transport segment amounted to EUR -3.8 million (Q1 2024: EUR 34.5 million).
    The energy segment’s EBITDA was EUR 31.8 million (Q1 2024: EUR 73.9 million).
    In the real estate segment, profitability is assessed based on the EBITDA of individual real estate entities.

    Based on separate real-estate companies results, the real estate segment’s EBITDA was EUR 3.4 million in Q1 2025 (Q1 2024: EUR 3.8 million).

    Net Profit (Loss)
    The consolidated net loss for the first quarter of the 2025 financial year was EUR -14.6 million, including a loss attributable to Infortar’s owners of EUR -4.5million (Q1 2024 net profit: EUR 62.1 million, including EUR 62.2 million attributable to Infortar’s owners).

    Investments
    In the spring of 2024, Infortar entered the agricultural sector by acquiring one of Estonia’s largest dairy farms in Halinga and began construction of a biomethane plant next to the farm to produce local green gas. Today, on 5 May, Infortar announced an additional investment plan in Estonia Farmid OÜ.
    In the first quarter of 2025, the total amount of investments made by the Infortar Group was approximately EUR 22 million.

    Financing
    As of the first quarter of the 2025 financial year, the Group’s total loan and lease liabilities amounted to EUR 1 105.3million (compared to EUR 1 223.3 million at the end of the 2024 financial year). Infortar’s net debt stood at EUR 952.397 million. The net debt to EBITDA ratio was 3.4.

    Dividends

    According to the dividend policy, the objective is to pay dividends of at least 1 euro per share per financial year. Dividend payments are made semi-annually. Infortar Group’s management proposes to pay a dividend of 3 euros per share for the 2024 financial year results. According to the proposal, the first payout is planned to be made no later than July, and the second payout in December 2025. 

    Consolidated Statement of Profit or Loss

    (in thousands of EUR) Q1 2025 Q1 2024 12 months 2024
    Revenue 447 357 372 584 1 371 775
    Cost of goods (goods and services) sold -421 173 -322 573 -1 243 034
    Write-down of receivables -116 -7 -113
    Gross profit 26 068 50 004 128 628
    Marketing expenses -10 976 -415 -21 086
    General administrative expenses -20 965 -7 238 -50 438
    Profit (loss) from derivatives 0   26 672
    Profit (loss) from biological assets -33 0 -139
    Profit (loss) from the change in the fair value of the investment property 0 156 -949
    Profit (loss) from the change in the fair value of the investment property 3 939 24 659 -8 691
    Other operating revenue 1 956 600 4 682
    Other operating expenses -644 -142 -1 655
    Operating profit -655 67 624 77 024
           
    (in thousands of EUR) Q1 2025 Q1 2024 12 months 2024
    Profit (loss) from investments accounted for by equity method 955 2 000 22 974
    Financial income and expenses:      
    Other financial investments -333 0 13 342
    Interest expense -12 896 -6 745 -38 274
    Interest income 842 1 244 4 979
    Profit (loss) from changes in exchange rates -315 -2 100
    Other financial income and expenses -451 4 93 659
    Total financial income and expenses -13 153 -5 499 73 806
    Profit before tax -12 853 64 125 173 804
    Corporate income tax -1 708 -2 063 19 866
    Profit for the financial year -14 561 62 062 193 670
    including:      
    Profit attributable to the owners of the parent company -4 479 62 167 191 253
    Profit attributable to non-controlling interest -10 082 -105 2 417
           
    Other comprehensive income Q1 2025 Q1 2024 12 months 2024
    tems that will not be reclassified to profit or loss      
    Revaluation of post-employment benefit obligations     -141
    Items that may be subsequently reclassified to the income statement:  
    Revaluation of risk hedging instruments     -45 792
    Exchange rate differences attributable to foreign subsidiaries     53
    Total of other comprehensive income     -45 880
    Total income, including:     147 790
    including:      
    Comprehensive profit attributable to the owners of the parent company     145 514
    Comprehensive profit attributable to non-controlling interest     2 417
    Ordinary earnings per share (in euros per share) -0,22 14,62 9
    Diluted earnings per share (in euros per share) -0,21 14,15 14,15

    Consolidated Statement of Financial Position

    (in thousands of EUR) 31.03.25 31.12.24
    Current assets    
    Cash and cash equivalents 152 908 167 579
    Short term financial investments 0 0
    Derivative financial assets 16 968 8 333
    Settled derivative receivables 2 448 676
    Other prepayments and receivables 153 040 155 351
    Prepayments for taxes 3 650 3 831
    Trade and other receivables 51 379 38 517
    Prepayments for inventories 1 953 2 498
    Inventories 124 636 215 914
    Biological assets 941 941
    Total current assets 507 923 593 640
         
    Non-current assets 31.03.25 31.12.24
    Investments to associates 17 559 16 603
    Long-term derivative instruments 340 3 214
    Other long term obligations 34 685 35 163
    Property, plant and equipment at fair value 1 309 599 1 315 167
    Investment property 68 175 67 931
    Property, plant and equipment 598 280 594 291
    Intangible assets 38 008 38 874
    Right-of-use assets 46 043 47 598
    Biological assets 2 720 2 753
    Total non-current assets 2 115 409 2 121 594
    TOTAL ASSETS 2 623 332 2 715 234
         
    (in thousands of EUR) 31.03.25 31.12.24
    Current liabilities    
    Loan liabilities 396 801 497 162
    Rental liabilities 8 755 9 020
    Payables to suppliers 104 664 87 941
    Tax obligations 48 861 49 354
    Buyers’ advances 40 946 31 126
    Settled derivatives 9 706 8 728
    Other current liabilities 68 409 63 431
    Short term derivatives 8 285 27 704
    Total current liabilities 686 427 774 466
         
    Non-current liabilities 31.03.25 31.12.24
    Long-term provisions 8 455 9 946
    Deferred taxes 3 039 2 816
    Other long-term liabilities 43 412 43 209
    Long-term derivatives 1 248 1 471
    Loan-liabilities 661 602 676 670
    Rental liabilities 38 147 40 435
    Total non-current liabilities 755 903 774 547
    TOTAL LIABILITIES 1 442 330 1 549 013
         
    (in thousands of EUR) 31.03.25 31.12.24
    Equity    
    Share capital 2 117 2 117
    Own shares -72 -72
    Share premium 32 484 32 484
    Reserve capital 212 212
    Option reserve 7 431 6 223
    Hedging reserve* 3 510 -21 674
    Unrealised currency translation differences 2 854 45
    Employment benefit reserve -44 -185
    Retained earnings 885 688 890 167
    Net profit of the financial year    
    Total equity attributable to equity holders of the Parent 934 180 909 317
    Minority interests 246 822 256 904
    Total equity 1 181 002 1 166 221
         
    TOTAL LIABILITIES AND EQUITY 2 623 332 2 715 234

    Consolidated Statement of Cash Flows

    Cash flows from operating activities    
    (in thousands of EUR) 3 months
    2024
    12 months
    2024
    Profit for the financial year -14 561 193 670
    Adjustments:    
    Depreciation, amortisation, and impairment of non-current assets 28 316 68 251
    Change in the fair value of the investment property 0 0
    Equity profits/losses -956 -22 974
    Change in the value of derivatives -79 -1 483
    Other financial income/expenses 2 300 -112 030
    Calculated interest expenses 12 896 38 274
    Profit/loss from non-current assets sold -116 -955
    Income from grants recognised as revenue -385 -643
    Corporate income tax expense 1 708 -19 866
    Income tax paid -1 485 -10 551
    Change in receivables and prepayments related to operating activities -12 184 52 023
    Change in inventories 91 823 -12 831
    Change in payables and prepayments relating to operating activities 29 780 -81 275
    Change in biological assets 33 -322
    Total cash flows from operating activities 137 090 89 288
         
    Cash flows from investing activities 3 months
    2024
    12 months
    2024
    Purchases of subsidiaries -333 -111 684
    Proceeds from the sale of other financial investments 0 0
    Received dividends 0 20 862
    Given loans 607 1 918
    Interest gain 755 4 953
    Purchases Investment property -244 -10 352
    Purchases of property, plant and equipment -23 305 -27 835
    Proceeds from sale of property 139 1 561
    Total cash flows used in investing activities -22 381 -120 577
         
    Cash flows used in financing activities 3 months
    2024
    12 months
    2024
    Gain from goverment grants 394 225
    Changes in overdraft -43 343 12 863
    Proceeds from borrowings 94 276 358 731
    Repayments of borrowings -166 362 -151 790
    Repayment of finance lease liabilities -3 591 -11 300
    Interest paid -10 754 -39 153
    Dividends paid 0 -60 997
    Gain from share emission 0 3 174
    Total cash flows used in financing activities -129 380 111 753
      0 0
    TOTAL NET CASH FLOW -14 671 80 464
    Cash at the beginning of the year 167 579 87 115
    Cash at the end of the period 152 908 167 579
    Net (decrease)/increase in cash -14 671 80 464

    Infortar operates in seven countries, the company’s main fields of activity are maritime transport, energy and real estate. Infortar owns a 68.47% stake in Tallink Grupp, a 100% stake in Elenger Grupp and a versatile and modern real estate portfolio of approx. 141,000 m2. In addition to the three main areas of activity, Infortar also operates in construction and mineral resources, agriculture, printing, and other areas. A total of 110 companies belong to the Infortar group: 101 subsidiaries, 4 affiliated companies and 5 subsidiaries of affiliated companies. Excluding affiliates, Infortar employs 6,296 people.

    Additional information:

    Kadri Laanvee
    Investor Relations Manager
    Phone: +372 5156662
    e-mail: kadri.laanvee@infortar.ee
    www.infortar.ee/en/investor

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  • MIL-OSI: Dawn Health Secures EURm 11.5 to Scale Platform & Product Suite for Next-Gen Pharma Digital Health Solutions

    Source: GlobeNewswire (MIL-OSI)

    Press release

    Dawn Health Secures EURm 11.5 to Scale Platform & Product Suite for Next-Gen Pharma Digital Health Solutions

    Copenhagen, Denmark – 5th of May, 2025

    Dawn Health – a global leader in digital health, co-founded by Trifork and held as a minority investment in Trifork Labs – today announced that the company has secured a funding round of EURm 11.5 from its existing investors: Chr. Augustinus Fabrikker, the Export and Investment Fund of Denmark (EIFO), and Trifork Labs. The investment is aimed at supporting the company’s strategy to deliver its platform and product suite to global pharma companies through a SaaS model, while continuing to invest in further offerings within the Dawn Product Suite.

    Since 2021, Dawn Health has been dedicated to developing a best-in-class platform designed specifically to accommodate the needs and use cases of the pharmaceutical industry. The Dawn Platform and Product Suite have already been widely adopted by five global industry leaders, including Merck and Novartis. The Dawn Platform is currently used in areas such as oncology, multiple sclerosis, and rare pediatric conditions like growth disorders. It helps patients manage their treatment, report symptoms, and stay in close contact with their healthcare team.

    The Dawn Platform and Product Suite empower pharma companies, patients, and healthcare professionals to improve outcomes and patient care by leveraging advanced capabilities in AI, data, evidence generation, clinical integrations, personalization, and connected health. By improving both data collection and analytics, these capabilities ultimately benefit patients and pharma companies alike, positioning the Dawn Platform as the foundation for therapy companions, disease management programs, and real-world evidence (RWE) solutions that enable the next generation of digital health.

    “Our ambition is to be the global leader in digital health, powering pharma’s next-generation products – and ultimately improving the lives of patients worldwide,” said Alexander Mandix Hansen, CEO of Dawn Health. “This funding allows us to bring our proven platform to more markets and deepen our impact.”

    This next phase reinforces Dawn Health’s position as a trusted partner to pharma companies, delivering valuable, scalable, regulatory-grade digital health products that evolve with the needs of modern medicine.

    “Since the major investment in December 2021, Dawn Health has grown its revenue significantly and expanded its footprint in global pharma. With more than 100 employees, unique solutions, and a strong regulatory infrastructure, we are prepared to further accelerate our growth,” said Lars Marcher, Chairman of Dawn Health.

     

    About Dawn Health
    Dawn Health is a global leader in digital health, specializing in the development of Software as a Medical Device (SaMD), Digital Therapeutics (DTx), and connected health solutions. Accelerating the launch of digital solutions to market, the Dawn Health product suite drives innovation to change the lives of people with chronic conditions. Through close partnerships with the life sciences industry, Dawn Health creates digital health products that transform patient care through an empathetic and human-centric approach. Learn more at dawnhealth.com.

    Contact: Christopher Kold, Marketing Manager, cko@dawnhealth.com, +45 41 58 60 88

    About Trifork Group
    Trifork is a pioneering global technology partner, empowering enterprise and public sector customers with innovative solutions. With 1,229 professionals across 73 business units in 16 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Labs, the Group’s R&D hub, drives innovation by investing in and developing synergistic and high-potential technology companies. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

    Contact: Frederik Svanholm, Group Investment Director, frsv@trifork.com, +41 79 357 7317

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  • MIL-OSI: Enlight Research revises target price for INVL Technology’s shares

    Source: GlobeNewswire (MIL-OSI)

    Enlight Research updated its valuation of INVL Technology, a company that invests in IT businesses, following the publication of operating results for 2024.

    The target price for INVL Technology’s shares was raised to EUR 4.12 from EUR 4.01 per share.

    Before publication of the Enlight Research update report, INVL Technology’s share price on the Nasdaq Vilnius stock exchange was EUR 3.4.

    INVL Technology owns and manages the cybersecurity company NRD Cyber Security, the GovTech company NRD Companies, and the Baltic IT company Novian.

    The company that invests in IT businesses reported that its equity and net asset value were EUR 51.43 million at the end of December 2024, which is 18.2% more than a year earlier. The value per share of its equity and NAV was EUR 4.2896 and grew 19%. INVL Technology had an audited net profit of EUR 8.09 million in 2024, 56.6% more than in 2023.

    In mid-March last year, the company signed an agreement with the Zurich branch of M&A intermediation service provider Corum Group’s Luxembourg-based unit Corum Group International, to advise and serve as M&A intermediary on the sale of the company’s portfolio of businesses.

    INVL Technology, which is managed by INVL Asset Management, the leading alternative asset manager in the Baltics, is a closed-end investment company which must exit its investments no later than mid-July 2026 and distribute the money to shareholders.

    Enlight Research provides private and institutional investors with equity research. The company’s reports are available to all investors free of charge. The Enlight Research report is commissioned by INVL Technology and does not constitute investment research. The report was prepared for informational purposes and cannot be considered an offer to buy or sell shares. The responsibility for such a decision lies with the investor. 

    The person authorized to provide additional information:
    INVL Technology Managing Partner
    Kazimieras Tonkūnas
    E-mail  k.tonkunas@invltechnology.lt

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  • MIL-OSI: BW Energy: First quarter results 2025 

    Source: GlobeNewswire (MIL-OSI)

     BW Energy First quarter results 2025 

    HIGHLIGHTS 

    • Record Q1 EBITDA of USD 182.1 million, net profit of USD 83 million 
    • Operational cash-flow of USD 154.7 million in the quarter 
    • Q1 gross production of 4.2 mmbbls with 3.2 mmbbls net to BW Energy  
    • Highest quarterly production since inception from the Dussafu licence  
    • Maintained a strong balance sheet with cash position of USD 286.9 million 
    • Substantial oil discovery in the Bourdon prospect 
    • Maromba development FID unlocking path to more than doubling production and potential for future dividends 

    BW Energy, operator of the Dussafu Marin licence in Gabon and the Golfinho cluster offshore Brazil, reported a record quarterly EBITDA of USD 182.1 million for the first quarter of 2025. This was up 31% from USD 141.6 million in the previous quarter on increased oil sales following all-time-high production in Gabon and higher output in Brazil. The net production was ~36,000 bbls/day, including the Tortue, Hibiscus, and Hibiscus South fields in the Dussafu licence (73.5% working interest or “WI”) and the Golfinho field (100% WI).  

    “BW Energy delivers a strong first quarter with record production and EBITDA on the back of sustained stable operations across our asset portfolio in Gabon and Brazil,” said Carl K. Arnet, the CEO of BW Energy. “The accretive start to 2025 is further underpinned by the Bourdon discovery growing our Dussafu reserves, FID on the Golfinho Boost adding to production and reducing OPEX, and finally the Maromba FID. This transformative project is set to unlock industry-leading production growth and position BW Energy for future shareholder distributions.”  


    DUSSAFU

    BW Energy completed three liftings in the first quarter at an average realised price of USD 74.8/bbl. Net production was approximately 2.6 mmbbls of oil and the net sold volume, the basis for revenue recognition, was approximately 3.2 mmbbls including 65,000 bbls of DMO deliveries and 320,889 bbls of state profit oil with an over-lift position of 350,893 bbls at period-end.  

    Net production from the Dussafu licence averaged ~28,700 bbls/day, an increase of 5% from the previous quarter. Operating cost (excluding royalties) decreased to USD 9.9/bbl from USD 11.7/bbl in the fourth quarter due to operational efficiencies and increased production. Further cost savings are expected as BW Energy is preparing to take over the operations of the BW Adolo FPSO during the current quarter.  

    On 2 January 2025, Phase 1 of the Hibiscus / Ruche development was completed with eight producing wells, two more than planned at project sanction.   


    GOLFINHO

    Net production from the Golfinho field averaged ~7,300 bbls/day equivalent to a total production of 657,000 bbls in the quarter, up 12% from the previous quarter as gaslift resumed after completion of Petrobras maintenance. One lifting was carried out of ~500,000 bbls at a realised price of USD 75/bbl. Remaining inventory was approximately 597,750 bbls at the end of the period. Operating cost (excluding royalties) averaged USD 42.2/bbl barrel, down from 56.4/bbl in the fourth quarter, primarily due to higher production. In early April, the Brazilian oil and gas regulator ANP extended the production phase under the Golfinho concession contract, which has been extended to 2042 from previously 2031. 

    OTHER ITEMS

    On 28 March, BW Energy entered into an up to USD 500 million Reserve Based Lending (RBL) facility, replacing the 2022 facility which was increased to USD 300 million in 2023. The facility has an initial commitment of USD 400 million, which can be expanded with an additional USD 100 million subject to mutual agreement and satisfaction of customary conditions precedent. The senior secured long-term debt facility matures on 1 October 2030. 

    At 31 March 2024, BW Energy had a cash balance of USD 286.9 million, compared to USD 221.8 million at end-December. The increase reflects cash flow from operations less debt repayment and investments in the period. The Company had a total drawn debt balance of USD 599 million including the MaBoMo lease, the Dussafu RBL, the Golfinho prepayment facility and bond debt. 

    Production guidance for 2025 is unchanged at between 11 and 12 mmbbls net to BW Energy. Expected full-year operating cost is maintained at USD 18 to 22/bbl (the basis for calculating unit operating cost has been revised from 2025 onwards to exclude royalties, tariffs, workovers, domestic market obligation purchases, production sharing costs, and incorporates the impact of IFRS 16 adjustments, primarily impacting Gabon operations). Net capital expenditures for 2025 are expected at USD 650-700 million, up from USD 260 to 285 million previously. The increased follows the FIDs for the Maromba development and the Golfinho Boost project.  

    DEVELOPMENT PLANS 

    BW Energy confirmed a substantial oil discovery with good reservoir and fluid quality in the Bourdon prospect offshore Gabon. Management estimates indicate 56 million barrels oil in place, of which approximately 25 million barrels are considered recoverable, potentially through a future development cluster following the MaBoMo blueprint. The discovery will enable the Company to book additional reserves not included in its 2024 Statement of Reserves.  

    Work on optimising Golfinho production continued to focus on stabilising FPSO performance and selected future well workovers. In mid-April, BW Energy made FID on the Golfinho Boost project with planned investments of USD 107 million. The project is set to add 3 kbbls/day of incremental production and 12 mmboe of further reserves, while also increasing production uptime and reducing OPEX with first oil planned in the second half of 2027.   

    BW Energy has also made FID for the Maromba development offshore Brazil based on a capex-efficient, phased development with a wellhead platform (WHP) and FPSO. The development targets 500 million barrels of oil in place in the highly delineated Maastrichtian sands. First oil is planned in the second half of 2027 with expected plateau production of 60,000 barrels of oil per day, enabling short pay-back time and more than doubling BW Energy’s total net production by 2028.    

    In Namibia, BW Energy continued to prepare for an appraisal well targeting the Kharas Prospect northwest in the Kudu licence with planned start-up drilling operations in the second half of 2025. Long-lead items have been procured and the Company is reviewing offers for rig capacity.  

    REPORTS AND PRESENTATION 

    Please find the first-quarter earnings presentation attached. The reports are also available at: 

    www.bwenergy.no/investors/reports-and-presentations 

    BW Energy will today hold a live presentation at Hotel Continental, Oslo, Norway, and conference call followed by a Q&A hosted by CEO Carl K. Arnet, CFO Brice Morlot, CSO Thomas Young, CTO Jerome Bertheau and CCO Thomas Kolanski at 09:30 CEST. 

    You can follow the presentation via webcast with supporting slides, available on: 

    VIEWER REGISTRATION • Q1 2025   

    Please note, that if you follow the webcast via the above URL, you will experience a 30 second delay compared to the main conference call. The Web page works best in an updated browser – Chrome is recommended. 


    For further information, please contact: 

    Brice Morlot, CFO BW Energy

    +33.7.81.11.41.16, ir@bwenergy.no
     

    About BW Energy: 

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

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

    Attachment

    The MIL Network

  • MIL-OSI USA: MENG CALLS ON DOJ TO RESTORE FUNDING FOR GRANT PROGRAMS SUPPORTING LAW ENFORCEMENT AND VIOLENCE PREVENTION

    Source: United States House of Representatives – Congresswoman Grace Meng (6th District of New York)

    WASHINGTON, DC – U.S. Rep. Grace Meng (D-NY), Ranking Member of the House Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies (CJS), wrote a letter to Attorney General Pam Bondi opposing the Department of Justice’s (DOJ) decision to terminate federal grants awarded through the agency’s Office of Justice Programs (OJP) and urging the Administration to restore funding for critical programs supporting law enforcement and violence prevention.

    OJP is the largest grant-making arm of the DOJ. The grants funded by the office have been instrumental in supporting a wide range of law enforcement and community-based initiatives across the country, including local law enforcement, prosecution, judges, forensic science, reentry, hospitals, faith-based organizations, victim services and youth groups. 

    In her letter to Attorney General Bondi, Ranking Member Meng wrote, “These programs are not “wasteful” spending, as you have claimed. They play a critical role in leading violence prevention and intervention efforts; serving at-risk youth and victims of crimes, coordinating responses to rising hate crimes; and assisting individuals struggling with substance use disorders. These programs save lives.”

    The grants terminated by the DOJ support at-risk youth, victims of crime, lead violence prevention efforts, coordinate responses to increases in hate crimes, and help people struggling with substance abuse. This includes the Community-Based Approaches to Prevent and Address Hate Crimes grant program, originally authored by Meng following the passage of her COVID-19 Hate Crimes Act, which was signed into law by President Biden in 2021.

    Meng continued, “You stated the priority of your department is “law and order in America.” But law and order cannot exist if victims of crime are unable to recover, or if law enforcement does not have the resources to more effectively fight crime and restore relationships with the community members they serve, or if non-violent offenders cannot find a pathway to reentry into society.”

    Meng serves as Ranking Member of the House Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies (CJS), which has jurisdiction over federal funding appropriated to the DOJ.

    A copy of the letter can be viewed here

    MIL OSI USA News

  • MIL-OSI: BW Energy: Makes FID on Maromba field development in Brazil  

    Source: GlobeNewswire (MIL-OSI)

    BW Energy makes FID on Maromba field development in Brazil  

    BW Energy is pleased to announce the final investment decision (FID) for the Maromba development offshore Brazil based on a capex-efficient development with an integrated drilling and wellhead platform (WHP) and a refurbished FPSO. The development targets 500 million barrels of oil in place in the highly delineated and tested Maastrichtian sands. First oil is planned by end-2027 with expected plateau production of 60,000 barrels of oil per day. The development will more than double BW Energy’s total net production by 2028 and has short pay-back time.    

    Project highlights: 

    • Initial six production wells from the WHP 
    • The WHP will be a converted drilling jack-up with up to 16 well slots and production- and test-flowlines connected to the redeployed FPSO BW Maromba (ex. Polvo) 
    • A second six-well drilling campaign will fully leverage the established field infrastructure and allow for appraisal and testing of other reservoir horizons  
    • BW Maromba refurbishment and life extension work is already underway at the COSCO yard in China 
    • Total investments of USD ~1.5 billion, split USD ~1.2 billion for the initial development and a further USD ~0.3 billion for the secondary drilling campaign 

    “We have spent time on optimising the Maromba development plan and concluded on a highly competitive concept with a repurposed jack-up platform and FPSO, repeating the approach we very successfully applied in Gabon. Maromba will enable BW Energy to deliver industry-leading organic production growth and position the Company for further low-cost developments of known potential developments. We expect to unlock significant shareholder value in all realistic oil price scenarios,” said Carl K. Arnet, the CEO of BW Energy. 

    Capex-efficient development concept  

    The development comprises six initial Maastrichtian horizontal production wells with dry-trees and artificial lift by downhole Electric Submersible Pumps (ESPs). Production will be transferred from the WHP to the spread moored FPSO Maromba for treatment, storage and offloading to shuttle tankers. The WHP will be installed in ~150 meters of water depth with full drilling facilities. Once installed, the infrastructure will also enable the planned secondary six-well drilling campaign and provide potential for future development phases with low-cost infill wells, potential water injectors as well as allowing appraisal and production of multiple proven reservoirs outside the main Maastrichtian resources.    

    The FPSO Maromba is currently at the COSCO yard in China, undergoing initial refurbishment and life extension work following completion of condition assessment and FEED.  The FPSO is designed with 1 million barrels of storage capacity. The total liquid capacity will be 100,000 barrels per day with oil production capacity of 65,000 barrels per day and water treatment capacity of 85,000 barrels per day.  

    BW Energy has agreed to acquire a jack-up with complete leg extensions for USD 107.5 million. The rig will undergo a limited conversion to serve as an integrated drilling and wellhead platform prior to installation on the field.

    “The repurposing of existing energy infrastructure enables reduced investments and shorter time to first oil with significantly reduced greenhouse gas emissions in the development phase, as compared to installing new production assets,” said Carl K. Arnet, the CEO of BW Energy. 

    Attractive field economics  

    BW Energy expects to invest approximately USD 1 billion before first oil and a further USD 200 million to complete the initial drilling campaign before end 2028. This will be followed by USD 300 million for the additional six wells in the second campaign with completion before end 2030.  

    BW Energy anticipates Maromba to achieve a competitive production cost, averaging less than USD 10 per barrel over the first five years, underpinning robust project economics. 

    Estimated project IRR exceeds 30% at oil at USD 60 per barrel Brent and break-even at 10% IRR is around USD 40 per barrel Brent. The heavy oil from the Maromba is expected to trade at a discount to Brent of approximately USD 7.5 per barrel.  

    The development will be financed through existing cash and undrawn facilities, cashflow from operations, and separate infrastructure financing solutions related to the FPSO and WHP. The Company is also evaluating a range of financing alternatives, including a corporate facility, reserve-based lending, trader financing and the potential issuance of bonds.  

    BW Energy has also received a commitment by the main shareholder BW Group for a USD 250 million shareholder loan facility.   

    The Maromba field 

    Maromba is located 100 km off the Brazilian coast in the Campos Basin. Nine wells were drilled in the license between 1980 and 2006, with oil found in eight of these across various reservoirs. The development project targets 123 million barrels of 2P reserves (management estimates), with potential additional resources from other reservoirs to be appraised along the development. BW Energy acquired 100% ownership in Maromba in 2019 for a total of USD 115 million, of which USD 85 million remains to be paid to the sellers at predefined milestones. Magma Oil holds a 5% back-in right in the Maromba licence which is expected to be executed upon first oil.  

    BW Energy is following all the steps of the approval process with the Brazilian O&G Regulator (ANP) and with the Environmental Agency (IBAMA). The Company will now proceed with contracting of long-lead items and services, as well as finalising the financing agreements.   

    More information on the Maromba development will be shared in connection with the first quarter 2025 earnings presentation held at Teatersalen, Hotel Continental in Oslo, Norway, 09:30 CEST on 5 May.  

    The presentation can also be followed via webcast on: 

    VIEWER REGISTRATION • Q1 2025  
    https://events.webcast.no/viewer-registration/9LwLZF1X/register   

    For further information, please contact: 

    Brice Morlot, CFO BW Energy

    +33.7.81.11.41.16
    ir@bwenergy.com  

    About BW Energy  

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

    This information is considered inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Regine Andersen, 05 May 2025.

    The MIL Network

  • MIL-Evening Report: Pie in the sky? After the Coalition’s stinging loss, nuclear should be dead. Here’s why it might live on

    Source: The Conversation (Au and NZ) – By Adam Simpson, Senior Lecturer, International Studies, University of South Australia

    barmalini/Shutterstock

    When the Coalition launched its nuclear plan last year, Labor was on the nose and early polls showed some support for the policy. But then the wheels fell off.

    Nuclear didn’t stack up on cost or timeframe. Early support fell away. By the time of the election, support for maintaining Australia’s ban on nuclear power had increased from 51% to 59%.

    When Opposition leader Peter Dutton gave his budget reply speech in late March, he barely mentioned the nuclear policy – instead promoting gas and attacking renewables.

    After Saturday’s Coalition rout, the prospect of nuclear power in Australia should be dead and buried. But that’s not guaranteed. The National Party strongly backs nuclear power.

    With metropolitan Liberals sceptical of nuclear reduced to a rump, the Nationals and regional Liberals will gain influence within the Coalition. If conservative Nationals prevail, we may well see the nuclear policy survive the election post-mortem and be resurrected for the next election.

    Why did the Coalition back nuclear?

    In the 1990s, the Coalition introduced laws banning nuclear power in Australia. But interest in the technology has never gone away. Australia has abundant uranium, and nuclear power appeals to some demographics.

    Politically, Dutton’s choice to back nuclear power was pragmatic. There were real tensions inside the Coalition on climate action. Nuclear power seemed to offer a way past these tensions, as a zero emissions energy source providing baseload power. It would also have meant slowing the renewable rollout and building more gas power plants to cover the gap left by retiring coal.

    It appears the nuclear policy wasn’t a Dutton priority. Nationals leader David Littleproud says he and the Nationals pushed the Coalition to adopt nuclear in exchange for continued support for the 2050 net zero target. After Saturday’s wipeout in Liberal-held metropolitan seats, the Nationals will have a stronger hand.

    On Sky News yesterday, Littleproud claimed nuclear was not the reason for the Coalition’s loss. National MPs are still backing nuclear.

    If the Nationals stick to their guns, we may see the Coalition bring nuclear to the next election.

    Three-year federal terms make it difficult for new governments to embark on long term plans. Nuclear energy would take at least 15 years to come online. The Coalition’s last realistic opportunity to go nuclear would have been back in 2007, when there was renewed interest in the technology.

    At that time, renewables were quite expensive. But solar, wind and batteries now cost much less, while nuclear was already expensive and has remained so.

    Government tenders for renewable and storage projects tend to be massively oversubscribed, with far more interest than opportunities. By contrast, nuclear doesn’t have business backing. The Australian Industry Group has argued the Coalition’s nuclear policy was 20 years too late. This business reticence explains the Coalition’s proposal to build the nuclear reactors with public money.

    This year, clean energy levels in Australia’s main grid will reach 44–46%, according to the Clean Energy Regulator. With a strong pipeline of new projects, that could reach 60% by the next election. It’s hard to see what role nuclear could have in any future grid.

    Nuclear isn’t quite dead

    In contrast to intermittent renewables, nuclear offers reliable zero emissions baseload power. If you talk to nuclear backers, you’ll likely hear a variant of this sentence.

    But there’s “no going back” to the old baseload model where large, inflexible coal plants churned out power, as the head of the Australian Energy Market Operator Daniel Westerman pointed out last week. That’s because renewables are the cheapest energy source. Powering Australia on 100% renewables is possible with enough battery storage or pumped hydro to compensate for the solar duck curve, in which solar power drops off in the evening.

    So why does nuclear have a hold on the Coalition’s imagination, even as it faces its largest crisis since Menzies founded the Liberal Party?

    One likely reason is cultural opposition to renewables. This is especially evident among prominent Nationals such as Littleproud, Matt Canavan and Barnaby Joyce. As the thinking presumably goes, if “latte-sipping greens” in inner city areas back renewables, genuine country Australians should naturally oppose them.

    It is, of course, not that simple. Renewables are often just as popular in the bush as in the cities. A Lowy Institute poll found almost two-thirds of regional respondents supported the government’s 82% renewable target for 2030. Farmers hosting solar panels or wind turbines energy generation on their properties see them as guaranteed income even if livestock or grains are having a bad year.

    The problem for the Nationals and for the Coalition more broadly is that nuclear just isn’t that popular. Early support for the policy was soft. It melted away as authoritative sources such as the CSIRO pointed to the exorbitant cost and long timeframe to build reactors from scratch.

    Labor, with a resounding majority, is likely to accelerate the shift to clean energy. While the urban-rural political divide will still play out in Coalition opposition to clean energy, Labor’s large electoral mandate and dominance in the populous cities will encourage it to press ahead.

    As the surviving members of the Coalition lick their wounds and begin to figure out how they did so badly, we can expect to see nuclear up for discussion. But given the new power of the Nationals and regional Liberals in the party room, we may not have seen the last of nuclear fantasies in Australia.

    Adam Simpson 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. Pie in the sky? After the Coalition’s stinging loss, nuclear should be dead. Here’s why it might live on – https://theconversation.com/pie-in-the-sky-after-the-coalitions-stinging-loss-nuclear-should-be-dead-heres-why-it-might-live-on-255866

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: 5 huge climate opportunities await the next parliament – and it has the numbers to deliver

    Source: The Conversation (Au and NZ) – By Anna Skarbek, Climateworks CEO, Monash University

    Australians have returned an expanded Labor Party to government alongside a suite of climate-progressive independents. Meanwhile, the Coalition – which promoted nuclear energy and a slower renewables transition – suffered a historic defeat.

    Labor also looks set to have increased numbers in the Senate, where the Greens are likely to hold the balance of power.

    These numbers mean support for progressive climate and energy policy in Australia’s 48th parliament is shaping as stronger than the last. So what does this mean as Australia seeks to position itself as a leader in the global net zero economy?

    In its first term in government, Labor laid the groundwork for stronger climate action, including legislating an emissions-reduction target and putting crucial policies and organisations in place. The next parliament will be well-placed to build on these foundations. Here, we explain where key opportunities lie.

    1. National emissions target for 2035

    By September this year, all signatories to the global Paris Agreement must set emissions reduction targets out to 2035.

    Labor is waiting on advice from the Climate Change Authority before setting its target. The authority’s initial advice last year suggested a target between 65% and 75%, based on 2005 levels.

    Some countries have already set their targets. The United Kingdom, for example, will aim for a reduction of at least 81% by 2035, based on 1990 levels.

    2. A firm plan for net-zero

    Australia has committed to reaching net-zero emissions by 2050. Getting there will require innovation and investment across the economy. In the last term of government, Labor began
    developing net-zero plans for each economic sector. They comprise energy, transport, industry, resources, the built environment, and agriculture and land.

    The plans are due to be finalised this year. They will act as a tangible map for Australia to meet both net zero and the 2035 emissions-reduction target, and are keenly awaited by state governments, industry and investors.

    This policy area presents the broadest opportunity for the crossbench to exert influence for greater ambition, scale and pace. Neither the 2035 target nor the sector plans need to go through parliament – however they could feature in broader parliamentary negotiations.

    Separately, the Safeguard Mechanism will be reviewed in 2027, during this parliament. The policy aims to reduce emissions reductions from Australia’s biggest greenhouse-gas polluters. It is key to reaching net zero in Australia’s industrial sector, and an important moment to ensure the policy reduces emissions at the rate needed.

    3. Bidding to host COP31

    Australia is bidding to host next year’s United Nations global climate talks, or COP, in partnership with Pacific Island nations. The bid was opposed by the Coalition.

    A decision on the COP host is expected in June. If Australia succeeds, the federal government will seek to use the high-profile global gathering to showcase its climate credentials – and there will be high expectations from Pacific co-hosts. So all policy between now and then really matters.

    4. An energy system to make Australia thrive

    Energy produces about 70% of Australia’s emissions. Tackling this means reducing emissions from electricity through renewable generation. Elsewhere in the economy, it means switching from gas, petrol and diesel to clean electricity.

    The government’s plan to reach 82% renewable energy by 2030 remains crucial. Australia’s electricity system is expected to reach around 50% renewable energy this year. But there is more work to do.

    A review of the National Electricity Market is due this year. It is expected to recommend ways to promote greater investment in renewable generation and storage. This includes what policy might follow the Capacity Investment Scheme, a measure to boost renewables investment which will be rolled out by 2027.

    Faster action on the renewable shift can also be achieved through the Australian Energy Market Operator’s next Integrated System Plan – the nation’s roadmap for guiding energy infrastructure and investment.

    Labor also has scope to improve energy efficiency, and better match energy demand and supply – especially at times of peak energy use. The government’s commitments to subsidise home batteries, and expand the Clean Energy Finance Corporation, will help achieve this. The crossbench, including the Greens, is likely to seek greater investments to reduce household energy use and costs.

    Beyond this, Australia’s electricity grid needs to be double the size of what’s currently planned, to power the entire economy with clean energy.

    5. Leverage clean energy export advantages

    Australia generates about a quarter of its GDP from exports – many of them emissions-intensive such as fossil fuels, minerals and agricultural products.

    In his election victory speech, Prime Minister Anthony Albanese urged Australia to seize the moment at a time of global economic disruption. Key to this will be building on the Future Made in Australia agenda and ensuring Australia makes the most of its competitive advantages as the world transitions to net-zero.

    This will include:

    • leveraging a strong reputation as a reliable trade partner
    • capitalising on our world-leading solar and wind energy resources to produce low-emissions goods for export
    • developing the industry around critical minerals and rare earths needed in low-emissions technologies
    • helping metals and minerals sectors achieve net-zero emissions pathways.

    This will be central to trade negotiations in the years to come. Realising Australia’s green exports aspiration requires action abroad as well as at home.

    A game-changing decade

    This decade is crucial to Australia’s future economy, and to the success of Australia’s long-term transition to net zero emissions. Our work has shown Australia can slash emissions while the economy grows.

    The question now is how quickly the re-elected government – indeed, the next parliament – can realise Australia’s ambition as a renewable energy superpower.

    The next three years will provide vital opportunities and they must be seized – for the sake of our energy bills, our economic prosperity and Australia’s reputation on the world stage.

    Anna Skarbek is on the board of the Net Zero Economy Authority, SEC Victoria, the Centre for New Energy Technologies, the Green Building Council of Australia, and the Asia-Pacific Advisory Board of the Glasgow Financial Alliance on Net Zero. She is CEO of Climateworks Centre which receives funding from philanthropy and project-specific financial support from a range of private and public entities including federal, state and local government and private sector organisations and international and local non-profit organisations. Climateworks Centre works within Monash University’s Sustainable Development Institute.

    Climateworks Centre is a part of Monash University. It receives funding from a range of external sources including philanthropy, governments and businesses. Businesses such as mining companies and industry associations have previously co-funded Climateworks’ research on industrial decarbonisation, and may benefit from policies mentioned in this article.

    ref. 5 huge climate opportunities await the next parliament – and it has the numbers to deliver – https://theconversation.com/5-huge-climate-opportunities-await-the-next-parliament-and-it-has-the-numbers-to-deliver-255772

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: Costa, Newhouse, Curtis Push to Unlock Federal Funding for Western Water Infrastructure

    Source: United States House of Representatives – Congressman Jim Costa Representing 16th District of California

    WASHINGTON—Congressman Jim Costa (CA-21), Congressman Dan Newhouse (WA-04), and Senator John Curtis (R-UT) introduced the Restoring WIFIA Eligibility Act, bipartisan legislation aimed at strengthening water quality and storage infrastructure across the Western United States. “Water is the lifeblood of the West, and as climate change intensifies drought and weather extremes, we must invest in reliable, modern water infrastructure,” said Congressman Costa. “Our legislation will provide California and San Joaquin Valley water managers with the tools they need to expand water storage and ensure clean drinking water in our communities.”  “After meeting with several water conservancy districts across Utah over the past few months, one thing is clear: Utah’s rapid population growth is placing significant pressure on our community water resources,” said Senator Curtis. “This bipartisan legislation would make it easier for local governments and utilities to invest in critical water infrastructure projects—helping ensure we can meet the growing needs of our communities.”“Federal irrigation, clean water, and wastewater projects are essential to rural areas like Central Washington, but a lack of resources for maintenance and repairs puts our water infrastructure at risk. This legislation gives our local water managers the tools they need to sustain long-term projects and guarantee clean, safe water that our communities, farmers, and ranchers rely on,” said Congressman Newhouse.”As we face the ongoing challenges of water scarcity in the West, the introduction of the Every Drop Counts Act and the Groundwater Technical Assistance Act represents a useful step toward ensuring a sustainable future for our communities, ecosystems, and farms. These bipartisan efforts will not only enhance our capabilities for groundwater recharge but also empower local agencies to innovate and implement solutions that restore our vital aquifers. Together, we are laying the groundwork for a resilient water supply that supports agriculture, the environment, and the needs of our growing population,” said Rick Borges, President of the Friant Water Authority.“The Restoring WIFIA Eligibility Act provides much-needed reforms related to technical issues that substantially limit access to WIFIA loan funding for facilities under federal ownership, regardless of the method of loan repayment,” said Cannon Michael, Board Chair of the San Luis & Delta-Mendota Water Authority. “We thank Rep. Costa for his leadership on this issue. Given the significant infrastructure improvements needed to improve the reliability of water supplies for the Water Authority’s members, it’s critical that every funding tool be available to improve affordability for the farming families, disadvantaged communities, and wildlife and wildlife enthusiasts who are reliant on the Water Authority’s members for their water supplies.”BACKGROUNDCalifornia’s San Joaquin Valley, one of the most productive agricultural regions in the world, depends heavily on complex water delivery systems to sustain its economy and rural communities. However, the region is grappling with drought, groundwater depletion, and strict water quality standards. The Restoring WIFIA Eligibility Act would update the Water Infrastructure Finance and Innovation Act (WIFIA), originally enacted in 2014. This legislation accelerates investment in the nation’s aging water systems by offering long-term, low-cost loans for major water projects. This bill would clarify that federally owned water infrastructure, when operated by non-federal entities such as California’s Friant Water Authority and the San Luis Delta-Mendota Water Authority is eligible for WIFIA financing.Access to WIFIA financing will enable San Joaquin Valley water agencies to invest in infrastructure upgrades, including groundwater recharge, surface storage, and conveyance improvements.

    MIL OSI USA News

  • MIL-OSI Asia-Pac: FS attends ADB meeting in Milan

    Source: Hong Kong Information Services

    Financial Secretary Paul Chan attended the Constituency Meeting at the 58th Annual Meeting of the Asian Development Bank (ADB) in Milan, Italy yesterday.

    Discussions in the Constituency Meeting focused on co-operation between member countries, ways to navigate current economic risks and uncertainties in the region, optimal use of resources to better assist low- and middle-income countries, and provision of technical assistance and support for capacity building in such countries.

    Mr Chan stated that the Hong Kong Administrative Region Government welcomes the ADB’s strengthening of support for developing countries in areas such as addressing climate change, boosting the private sector, promoting regional co-operation, and facilitating digital transformation. In addition, he said it supports enhancing technical assistance to improve the effectiveness of development projects.

    The finance chief stressed that, as an international financial centre, Hong Kong will continue to share its expertise with other members in areas such as establishing capital markets, promoting green transitions and the development of green finance, and infrastructure financing.

    Mr Chan also met Rachel Thompson, the Director representing the Hong Kong, China constituency on the ADB Board of Directors, to discuss how Hong Kong can better assist the ADB in the issuance of insurance-linked securities, including catastrophe bonds.

    In the evening, Mr Chan attended a reception organised by the meeting’s host country, Italy.

    MIL OSI Asia Pacific News

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on May 05, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 25,000
    Total amount of bids received (in ₹ crore) 5,646
    Amount allotted (in ₹ crore) 5,646
    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: 2025-2026/250

    MIL OSI Economics

  • MIL-OSI: Inside information: Jouko Pölönen appointed as the CEO of eQ Plc

    Source: GlobeNewswire (MIL-OSI)

    eQ Plc Stock exchange release, inside information

    5 May 2025, at 8:00 AM

    The Board of Directors of eQ Plc (“eQ”) has decided to appoint M.Sc. (Econ & Bus. Adm.), eMBA Jouko Pölönen as the company’s new Chief Executive Officer. Jouko Pölönen will assume the position no later than 5 November 2025. Since 28 October 2024, Janne Larma has been serving as eQ’s interim CEO and will continue in that role until Pölönen is able to start as a new CEO.

    eQ will host a press conference regarding Pölönen’s appointment on 5 May at 1:30 PM, welcoming representatives of the media, investors and analysts. Further details regarding participation can be found at the end of this release.

    Pölönen, 55, has made a distinguished career in the financial sector. Most recently, he has served for seven years as CEO of Ilmarinen Mutual Pension Insurance Company. Prior to that, he held roles such as Head of Banking at OP Financial Group and CEO positions at OP Corporate Bank Plc, Helsinki Area Cooperative Bank, and Pohjola Insurance Ltd.

    “eQ is one of the leading asset managers in Finland, with a particularly strong position in private equity and real estate asset management. I am excited to join eQ’s talented team and confident that together we can create added value for our clients and shareholders. I am highly goal- and results-oriented. I expect that we can drive profitable growth during the coming years,” says Pölönen.

    Chair of the Board Georg Ehrnrooth says that the Board is very pleased to have appointed Pölönen as CEO of eQ.

    “We are convinced that Jouko is the right person to lead eQ and to implement our growth objectives and strategy together with our skilled and professional team,” Ehrnrooth says.

    “Jouko brings in his extensive experience in the financial sector, leadership, and strategic development and execution. In addition, Jouko has a broad network of contacts with investors, businesses, and the public sector. While eQ’s financial performance in the past couple of years has not met the targets, we believe the fundamentals for a turnaround are already in place,” Ehrnrooth continues.

    Pölönen sees significant opportunities in the asset management market:

    “eQ has excellent products that many institutions and family offices rely on. More and more private individuals are saving and investing, and we want to offer also to them the best wealth management products and services to build their wealth. I consider professional asset management as a highly interesting and growing market. A key factor for me in a accepting this role was also the opportunity to become an owner myself,” Pölönen says.

    The three largest shareholders of eQ have agreed to sell a total of one million (1,000,000) eQ shares to Pölönen. Technically, the shares will be sold to Pölönen’s personal investment company. This amount represents approximately 2.4 percent of eQ’s total share capital. As a result of the transaction, Pölönen will rank among the ten largest shareholders of eQ. The share sale will be completed during May.

    Georg Ehrnrooth comments:

    “We want to ensure Jouko’s commitment and give him a strong incentive to drive growth with an entrepreneurial spirit and act in accordance with eQ’s values.”

    Additionally, the Board of Directors has decided to grant Pölönen 100,000 stock options under the 2025 option program. The terms of the option program were announced on 4 February 2025 and are available on the company’s website. Pölönen will receive the options upon the commencement of his employment.

    Jouko Pölönen’s CV is attached to this release.

    Press Conference

    eQ will hold a press conference today, 5 May 2025, at 1:30 PM. Speakers will include Georg Ehrnrooth, Chair of the Board; Janne Larma, interim CEO of eQ; and Jouko Pölönen, appointed CEO of eQ. The event will take place at Studio Eliel in Sanomatalo, Helsinki. Participants will have the opportunity to ask questions after the presentations. The event can also be followed via webcast at: https://eq.videosync.fi/2025-05-05

    eQ Plc

    Additional information:

    Janne Larma, interim CEO, tel. +358 40 500 4366
    Georg Ehrnrooth, Chair of the Board, tel. +358 9 6817 8777 

    Distribution: Nasdaq Helsinki, www.eQ.fi, media

    eQ is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the group total approximately EUR 13.6 billion. Advium Corporate Finance, which is part of the group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets. The share of the group’s parent company eQ Plc is listed on Nasdaq Helsinki. More information about the group is available on our website at www.eQ.fi.

    Attachment

    The MIL Network

  • MIL-OSI: A subsidiary of Aktsiaselts Infortar signed a shareholders’ agreement for acquiring a shareholding in OÜ Estonia Farmid

    Source: GlobeNewswire (MIL-OSI)

    On 2. May 2025 OÜ EG Biofond (registry code: 11504910) signed an investment agreement and a shareholder ‘agreement for acquiring a 96,6%% shareholding in OÜ Estonia Farmid (registry code: 10627556). A 3.4% shareholding is held by Estonia Farmid OÜ’s subsidiary, Osaühing Estonia (registry code: 10038386).
    According to the agreements, getting an approval from the Competition Authority and additional operations are preconditions for completion of the transaction. Following the transaction, the shareholders of Estonia Farmid OÜ are OÜ EG Biofond with a 96.6% shareholding and Osaühing Estonia with a 3.4% shareholding.
    Estonia Farmid OÜ holds shareholdings in three agricultural companies: Estonia OÜ, Kabala Agro OÜ, and Sõrandu Farm OÜ, collectively employing nearly 150 people. The agricultural group manages a total of 9,400 hectares of arable land in Türi and Järva municipalities, of which over 6,000 hectares are owned by the company. The group’s dairy farms are located in Central Estonia – Oisu, Taikse, and Kabala – with a total of 2,640 dairy cows. The average milk production per cow at the Estonia dairy farm is among the highest in Estonia, reaching 13,300 kilograms annually. In addition to milk production, the company grows 27,000 tons of grains and rapeseed per year. Estonia Farmid OÜ also owns a 40% stake in the Oisu biomethane plant, which helps reduce the carbon footprint associated with milk production.
    “Estonia’s greatest natural resources are food, timber, and minerals – these are the pillars of both our current and future economy. Estonia has fertile farmland, and our milk production is among the best in the region. The dairy industry is definitely one of the sectors where we can compete internationally,” said Ain Hanschmidt, Chairman of the Management Board of Infortar.
    “The economy is set on three pillars – agriculture, industry, and services. In recent years, Infortar has expanded its presence across all three sectors to achieve its ambitions and manage risk. More than that, we have grown to become a market leader in each,” Hanschmidt added.
    “Estonia Farmid, one of Estonia’s strongest agricultural companies, is doing well, but further development requires investments and risk-taking on a scale that the current owners no longer consider reasonable. We’re now at a point where the next steps for Estonia Farmid OÜ should be taken by a new, ambitious owner,” said Jaanus Marrandi, Management Board Member of Estonia Farmid OÜ.
    “Estonia Farmid is being acquired by one of Estonia’s most prominent and financially strong groups – known for its solid reputation and international reach. As a listed company, Infortar provides us with the confidence that the work done so far, as well as future development and stability, will be ensured,” Marrandi emphasized.
    The transaction is not treated as a transaction beyond everyday economic activities or a transaction of a significant importance, nor as a transaction with related persons, within the meaning of the “Requirements for Issuers” part of the NASDAQ Tallinn Stock Exchange rules. The transaction does not have a significant impact on Aktsiaselts Infortar’s activities. The members of the Supervisory Board and the Management Board of Aktsiaselts Infortar are not personally interested in the transaction in any other way.

    Infortar operates in seven countries, the company’s main fields of activity are maritime transport, energy and real estate. Infortar owns a 68.47% stake in Tallink Grupp, a 100% stake in Elenger Grupp and a versatile and modern real estate portfolio of approx. 141,000 m2. In addition to the three main areas of activity, Infortar also operates in construction and mineral resources, agriculture, printing, and other areas. A total of 110 companies belong to the Infortar group: 101 subsidiaries, 4 affiliated companies and 5 subsidiaries of affiliated companies. Excluding affiliates, Infortar employs 6,228 people.

    Additional information:
    Kadri Laanvee
    Investor Relations Manager
    Phone: +372 5156662
    e-mail: kadri.laanvee@infortar.ee 
    www.infortar.ee/en/investor

    The MIL Network

  • MIL-OSI Russia: Israeli army calls up tens of thousands of reservists to expand Gaza offensive

    Translation. Region: Russian Federal

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

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

    JERUSALEM, May 4 (Xinhua) — Israel’s military has begun issuing “tens of thousands” of draft notices to reservists to expand its offensive in the Gaza Strip, Israel Defense Forces (IDF) Chief of Staff Eyal Zamir said Sunday during a visit to a naval base, vowing to step up pressure on the Palestinian Hamas movement to free hostages.

    “This week we are issuing tens of thousands of draft notices to our reservists to strengthen and expand operations in Gaza,” said E. Zamir. “We are increasing the pressure to bring our hostages home and defeat Hamas.”

    He added that as part of the expanded offensive, the army would operate in “additional territories” of the enclave and destroy “all military infrastructure.”

    E. Zamir said that reservists will also be sent to other areas, including the northern border with Lebanon and Syria, as well as the occupied West Bank.

    Earlier over the weekend, Israeli forces struck more than 100 targets in the Gaza Strip, including militant cells, underground infrastructure and military camps, the IDF said.

    Israeli Prime Minister Benjamin Netanyahu and his coalition partners have vowed to continue the war until Hamas is completely defeated, despite growing pressure from the Israeli public for a ceasefire to free the 59 hostages Israel says are still being held in the Gaza Strip.

    In March, Israel ended a two-month truce with Hamas and resumed air and ground fighting. More than 52,000 Palestinians have been killed since the Israeli offensive began in October 2023, according to Gaza health authorities. –0–

    MIL OSI Russia News

  • MIL-OSI Russia: US Media: China Taught US a Lesson in Trade War

    Translation. Region: Russian Federal

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

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

    On April 25, the website of the American publication The Hill published an op-ed article stating that the US trade strategy of bullying China into submission with high tariffs is failing at an alarming rate. China has taught Trump a harsh lesson on trade issues. Far from shaking China, the trade war has awakened a new sense of national duty.

    Screenshot of an article from the American The Hill

    The author of the article suggests that the United States’ ignorance of China’s history, culture and economic advantages, and even its underestimation of the fragility of the US economy itself, are forcing the US to pay a high price.

    After Trump re-assumed office, he reclaimed his iconic “tariff weapon” and announced tariff increases of up to 145% on imports from China in an attempt to force China to make concessions in trade talks.

    Anyone with even a passing knowledge of Chinese history, however, can foresee the US’s failure. The First Opium War in 1840 marked the beginning of China’s “hundred years of humiliation,” caused by the so-called “balance of trade deficit” dispute. At the time, Britain forced China to trade in opium to solve its trade deficit with China.

    The article also said that one of the reasons for the United States’ failure is that China is better able to withstand a trade war than the United States itself. The reason is quite simple: due to the constant economic pain caused by the trade war, the Chinese economy has become quite resilient and is ready to withstand challenges. China holds more than $750 billion in U.S. Treasury bonds, enough to provide financial support to battered export manufacturing companies.

    The United States, by contrast, faces a more intractable supply chain problem than a shortage of funds. Once China’s exports to the United States are significantly reduced, the shelves of American Wal-Mart supermarkets will quickly become empty. American consumers will find that tens of thousands of items – from electronics to Christmas decorations – are either out of stock or have seen their prices skyrocket.

    What is even more ironic is that U.S. tariff policy has, in contrast, provided China with a strategic opportunity. China has long sought to reduce its dependence on exports and reduce demand for Western technology. The trade war provides China with a golden opportunity to accelerate its transformation.

    Moreover, Trump clearly underestimated China’s strategic patience.

    Faced with pressure from domestic retailers and consumers, Trump seems to have lost his head. He first abandoned his plan to impose a 145% tariff on Chinese electronics within 48 hours, then said tariffs on China would be significantly reduced, even claiming that “the two sides are negotiating every day.” In fact, there are no negotiations at all.

    The US economy relies heavily on Chinese-made goods. The complexity of the supply chain – from everyday items to industrial components – is not always compensated for by money. Especially as the Christmas shopping season approaches, retailers typically confirm bulk orders in early June. If the threat of 145% tariffs persists, retailers will be afraid to place orders, and shortages of Christmas lights, toys and other goods will become inevitable. American media have begun predicting that “Trump Stole Christmas” will make headlines.

    The article concludes that the U.S. trade war is driven by historical ignorance and economic shortsightedness, and that the U.S. is paying a high price for it. Critics say the Trump administration is “learning from mistakes in real time,” but the cost of this class will be shared by American consumers and manufacturing companies. And it will be a costly lesson.

    MIL OSI Russia News

  • MIL-OSI Russia: China’s SAIC Motor signs deal for joint electric vehicle brand with Huawei

    Translation. Region: Russian Federal

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

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

    SHANGHAI, May 4 (Xinhua) — Shanghai-based Chinese automaker SAIC Motor on Thursday signed an agreement to set up a plant to produce vehicles and auxiliary battery units for its new electric vehicle (EV) brand, developed jointly with telecom giant Huawei, in the Lingang New Area of China’s Shanghai Pilot Free Trade Zone (FTZ).

    According to SAIC Motor, the plant’s production capacity at the initial stage of the project will be about 250,000 vehicles per year.

    The move follows a partnership formed earlier this year between SAIC Motor and Huawei. In February this year, the two companies signed an in-depth cooperation agreement to jointly launch the SAIC Shangjie brand.

    Tech giant Huawei is already collaborating with four other EV brands, namely AITO, Luxeed, Stelato and Maextro, under its Harmony Intelligent Mobility Alliance (HIMA). Tech support from Huawei, such as adaptive driver assistance and AI cockpit solutions, has given new impetus to partner automakers.

    SAIC Shangjie brand products will be equipped with Huawei’s intelligent mobility solutions, said Zhu Yong, head of SAIC ShangJie, adding that the intelligent electric vehicles will target the mid- to high-end market, with customers mainly including household consumers and young office workers.

    The first model under this brand is a mainstream SUV priced at around 200,000 /around $27,800/, which is expected to hit the market this fall. The SUV will be available in two versions: a pure electric version and an extended range version. The pure electric model will have a range of over 600 km on a full charge.

    By joining the HIMA family, SAIC Shangjie brand will help further lower the price range of cars co-developed with Huawei to 200,000 yuan to better tap the vast market, Zhu Yong said.

    SAIC Shangjie’s project is expected to increase the scale of the already leading new energy vehicle (NEV) industry in Lingang New Area, home to Tesla’s Shanghai Gigafactory, to 300 billion yuan, said Li Xiangcun, an official with the Lingang New Area Administrative Committee.

    Currently, there are more than 200 automobile-related companies in the Lingang New Area, forming an ecosystem covering automobile production, research, development and testing. -0-

    MIL OSI Russia News

  • MIL-OSI New Zealand: Trade negotiations with India commence

    Source: New Zealand Government

    Following significant engagement over the last month, the first in-person round of negotiations towards a comprehensive India New Zealand Free Trade Agreement (FTA) will take place in India this week. 

    This follows the highly successful visit to India last year by Deputy Prime Minister, Winston Peters and the formal launch of negotiations by Minster for Trade and Investment, Todd McClay and Indian Minister of Commerce and Industry, Piyush Goyal during the Prime Minister’s large trade mission to New Delhi in April.

    “This is an important step in our trade relationship with India and signals the two Governments’ intent to deliver a high quality outcome that benefits both countries,” Mr McClay says.

    “With a population of 1.4 billion and a GDP estimated to grow to USD $5.2 trillion by 2030, India offers significant opportunity for New Zealand exporters,” Mr McClay says.

    “Strengthening ties with India across the board is a key part of the Government’s broader strategy to diversify and grow New Zealand’s export markets and double trade by value in 10 years.

    MIL OSI New Zealand News

  • MIL-Evening Report: A rubbish election: voting in Australia produces mountains of waste – but there’s a better way

    Source: The Conversation (Au and NZ) – By Lisa M. Given, Professor of Information Sciences & Director, Social Change Enabling Impact Platform, RMIT University

    More than 18 million Australians voted on Saturday, after walking past countless corflutes, reading campaign flyers and reviewing how-to-vote cards.

    The 2025 federal election was Australia’s biggest yet, with 710,000 more people on the electoral roll than in 2022. The Australian Election Commission amassed 250,000 pencils, 240,000 vests, 80,000 ballot boxes and 5,000 rolls of tamper-proof tape to stock some 7,000 polling places.

    So, what happens to these materials after polling day? Some are warehoused, ready for reuse next time around. Others are repurposed. But every election also generates a mountain of waste for landfill.

    It doesn’t have to be this way. Australia needs to mandate a cradle-to-grave approach to creating, using, recycling and disposing of election materials. Meanwhile, electronic machines and online voting can reduce the need for paper ballots, just as social media campaigns can reduce paper mail drops.

    Magill School in the Sturt electorate, like most polling centres, was wrapped in lightweight plastic posters.
    Clare Peddie

    Where do election materials go after the polls close?

    In response to inquiries from The Conversation, the Australian Election Commission said most AEC materials, such as tamper-proof tape, vests and pencils, are stored between elections at counting centres. Other materials, such as cardboard voting booths, are recycled or donated to schools or charities.

    Most councils require corflutes to be collected within seven days of an election. But no rules govern reuse or disposal. Corflutes are made from polypropylene, a lightweight plastic that is technically recyclable. But it’s not a straightforward process, so most recycling facilities reportedly cannot accept this waste.

    Some candidates donate corflutes to schools, childcare centres and charities, because the white reverse side can be used to mount artworks.

    Second-hand corflutes have also been used as shelters for homeless people, heat shields for bee hives, or to repair damaged skylights. But no doubt many end up in landfill.

    Are there alternatives?

    Many countries are “greening” their elections. In 2019, India’s election commission directed parties to eliminate single-use plastic including corflutes. In 2024, the United Kingdom’s Westminster Foundation for Democracy outlined strategies for reducing election “pollution”, addressing supply chains and packaging.

    Australia relies heavily on disposable election materials. While many of these can be recycled, it’s better to avoid single-use materials.

    Parties could also display how-to-vote instructions on posters at election sites, rather than handing out individual flyers that are recycled or thrown away.

    In 2022, the AEC introduced plain brown cardboard screens and ballot boxes, saying they are easier to recycle and reuse than previous versions “wrapped” in purple-and-white branded paper. However, Australian Electoral Commissioner Tom Rogers says elections will probably always be “highly manual and resource-intensive exercises”. We disagree.

    Could Australia use electronic or online voting to reduce waste?

    Other countries are introducing online voting to reduce waste. One study in Estonia found the carbon footprint of paper-based voting was 180 times greater than internet-based voting. More than 50% of the population voted online in 2023.

    India introduced electronic voting machines in 1982 and mandated them, nationwide, in 2004. In 1999 alone this saved 7,700 tonnes of waste.

    The United States introduced mechanical voting machines in the 1890s, punch cards and scanned ballots in the 1960s, and “direct-recording” electronic voting machines in the 1970s. Today, touch screens are used in many voting booths, with paper records for auditing. Now just 7% of districts rely on paper ballots and hand-counted ballots are rarely used.

    Yet electronic voting machines are not without controversy. Security concerns after the 2016 US election resulted in 94% of districts shifting to optical scanning, and use of “direct-recording” electronic voting machines almost halved.

    Ireland invested €50 million (A$88 million) into electronic voting machines in 2002, but they were never used due to concerns about potential tampering.

    Australia should explore secure options for electronic voting machines and online voting. In its response to The Conversation, the AEC said this would be a matter for parliament to consider, because the law currently demands that elections are in-person events.

    Can social media campaigning help?

    Social media enables candidates and voters to engage in new ways. For instance, Labor senators Katy Gallagher and Penny Wong took part in a Facebook “pop quiz” on April 29, which had 55,000 views. But social media can amplify misinformation, so consumers need to fact-check what they see and hear online.

    Combined, the parties and affiliated groups spent more than A$39 million on advertisements on YouTube, Facebook and Google during the 2025 campaign. The AEC had to update its authorisation guidelines to cover podcasters and other content creators.

    This mirrors global shifts towards social media campaigning. During Canada’s 2025 campaign, Liberal leader Mark Carney (who went on to be elected prime minister) created a video with celebrity Mike Myers, reaching 10 million views.

    While such creative approaches may engage voters, they still carry a carbon footprint. Carney and Myers’ video likely produced about six tonnes of CO₂ emissions due to the energy and electricity used in production, streaming and viewing.

    Mike Myers and Mark Carney used social media creatively in Canada’s 2025 election campaign.

    Text messages also connect candidates with voters. Clive Palmer’s Trumpet of Patriots party sent 17 million texts the election campaign. This equates to 240kg of CO₂ emissions from energy-hungry data centres and personal devices.

    This is less than the emissions the average Australian produces in a week. However, the unsolicited texts riled many voters, many concerned about privacy and who wanted to opt out.

    What’s the solution?

    Australia should mandate a reduction in the disposal of election materials.

    Some print materials may always be needed, because not all voters can access digital content or vote online. But the current situation is unsustainable.

    Global experiences show innovation is possible. Australia can reduce its reliance on new, physical materials, while maintaining public trust.

    Australia’s newly elected officials have an opportunity to green future elections, adopting a more sophisticated approach to voting in a digital age. There’s no excuse for producing mountains of plastic and paper waste every three or four years. Our nation deserves better.

    Lisa M. Given receives funding from the Australian Research Council. She is a Fellow of the Academy of the Social Sciences in Australia and the Association for Information Science and Technology.

    Gary Rosengarten receives funding from the Australian Research Council, Australian Renewable Energy Agency and the Renewable Affordable Clean Energy for 2030 CRC, and is a non-executive board member of the Australian Alliance for Energy Productivity.

    Matt Duckham 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. A rubbish election: voting in Australia produces mountains of waste – but there’s a better way – https://theconversation.com/a-rubbish-election-voting-in-australia-produces-mountains-of-waste-but-theres-a-better-way-255780

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI China: Trump to impose 100% tariff on all movies ‘produced in foreign lands’

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

    U.S. President Donald Trump said on Sunday that he is authorizing to immediately begin the process of instituting a 100 percent tariff on all movies “produced in Foreign Lands.”

    In a post on his Truth Social platform, Trump wrote, “The Movie Industry in America is DYING a very fast death.”

    “Other Countries are offering all sorts of incentives to draw our filmmakers and studios away from the United States. Hollywood, and many other areas within the U.S.A., are being devastated,” Trump said in the post, calling the situation “a National Security threat.”

    “Therefore, I am authorizing the Department of Commerce, and the United States Trade Representative, to immediately begin the process of instituting a 100 percent Tariff on any and all Movies coming into our Country that are produced in Foreign Lands. WE WANT MOVIES MADE IN AMERICA, AGAIN!” he added. 

    MIL OSI China News

  • MIL-OSI China: Pilot FTZs in China’s coastal regions unwaveringly deepen opening up

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

    As China marks the 10th anniversary of establishing three pilot free trade zones (FTZs) in its coastal regions, the country has demonstrated its unwavering commitment to deepening reform and advancing high-level opening up.

    Over the past decade, the pilot FTZs in Tianjin municipality and provinces of Guangdong and Fujian have yielded numerous achievements in institutional innovation, trade facilitation and industrial development.

    EXPERIMENTAL POLICIES

    In the Nansha area of the Guangdong pilot FTZ, citizens and tourists can hail a self-driving vehicle, which runs across the district populated by about a million residents.

    Pony.ai, a Chinese autonomous driving technology developer, set up its research and development center in Nansha in 2017, the year after its establishment. At the time, China had yet to introduce policies on autonomous driving. With the pilot FTZ’s policies, Guangzhou chose to pioneer and experiment with drafting regulations, paving the way for the legalization of autonomous vehicle road testing.

    The policies of pilot FTZs have benefited both domestic and international businesses.

    In response to the needs of airlines and maintenance enterprises, authorities in the Tianjin pilot FTZ have tailored and introduced bonded maintenance policies, enabling aviation companies worldwide to enjoy more convenient services for both routine maintenance and passenger-to-cargo conversions in the pilot FTZ.

    Under the previous customs rules, aircraft conversions required prepayment of import duties and a deposit of approximately 10 million yuan (about 1.39 million U.S. dollars), which would be refunded about six months after the completion of the three-month conversion process. At the same time, maintenance companies had to lease warehouses in a bonded zone for parts storage.

    However, since 2019, the Tianjin pilot FTZ’s bonded maintenance initiative has removed the deposit requirement, enabling foreign aircraft to be serviced in this zone without upfront capital expenditure.

    This initiative saves the aircraft maintenance company Tianjin Haite Aircraft Engineering Co., Ltd. approximately 50,000 yuan a month in warehouse rental costs, as it can now store maintenance components in its own facility. “Our overseas revenue has soared from 2 million U.S. dollars in 2019 to 15.5 million U.S. dollars in 2025, thanks to the zone’s bonded maintenance policy,” said Li Han, the company’s deputy general manager.

    The Fujian pilot FTZ has also implemented multiple experimental policies to boost cross-border trade, including streamlining the administrative approval process, shortening the customs clearance period, and granting equal treatment to domestic and foreign enterprises.

    Taking customs clearance as an example, Fujian has offered one-stop customs clearance services for companies in the pilot FTZ areas, which allows them to apply for customs clearance without docking the vessels. The policy has reduced logistics costs by 28 percent and improved customs clearance efficiency by 30 percent on average.

    Zhongjing Petrochemical Group Co., Ltd., a polypropylene producer located in the Fuzhou area of the Fujian pilot FTZ, requires substantial production materials imported from overseas each year. Under the traditional customs declaration model, vessels must wait for the declaration and inspection of all cargo before unloading, incurring daily port stay-over costs of up to 360,000 yuan per vessel.

    The local customs authority conducted on-site research and tailored a “compartmentalized declaration and inspection upon unloading” supervision model. This has resulted in an average reduction of one day in the operational cycle for individual vessels.

    Huang Min, deputy general manager of the company, said the new customs measures have improved the efficiency of their raw material turnover by nearly 30 percent. “This is particularly crucial for bulk hazardous materials such as propane, which have high demands for storage and transportation timeliness.”

    The optimization of the customs clearance process ensures continuous operation of production lines. “This year, we plan to expand our production capacity and anticipate importing approximately 2.6 million tonnes of propane and other materials, with the new model expected to save us over 20 million yuan in port stay fees,” Huang said.

    DEEPENING OPENING UP

    “The three pilot FTZs have comprehensively deepened reform and led high-standard opening up with high-level modern industrial clusters,” Meng Huating, a commerce ministry official, told a press conference last week.

    The Guangdong pilot FTZ has seen its total trade volume surge from approximately 110 billion yuan in 2015 to around 740 billion yuan in 2024, achieving an average annual growth rate of over 24 percent. The Fujian pilot FTZ has 138,000 newly established enterprises, 8.8 times the number before its establishment. The official said that the Tianjin counterpart has attracted an average annual utilization of foreign investment exceeding 2 billion U.S. dollars, contributing more than 40 percent of the city’s total actual foreign investment while occupying just 1 percent of its land area.

    In the Qianhai and Shekou areas of the Guangdong pilot FTZ, authorities have been attracting more global talent as a move to drive deeper opening up.

    To solve their work and living problems, global professionals can visit the Qianhai International Talent Hub, a one-stop center offering 700 government and business services, including streamlined visa and work permit processing.

    The hub has also launched an “In Qianhai” online portal, which has provided employment information, business policies and other customized support for 48,000 people.

    To make financial activities more convenient, the Tianjin pilot FTZ has established over 3,000 Free Trade (FT) accounts to bolster cross-border trade and investment for domestic and international enterprises, with transaction volume surpassing 1.15 trillion yuan.

    Previously, companies needed to have multiple accounts and go through intricate processes — including currency conversion — to procure foreign goods. FT accounts now enable direct payments in Chinese currency, renminbi, and foreign currencies through a unified account, offering flexible financing solutions and competitive onshore-offshore exchange rates.

    Bank of China has customized financial products by integrating FT accounts with local specialized industries, such as leasing and shipping logistics, providing one-stop services like online freight settlement, asset trading and cross-border financing.

    “FT accounts streamline cross-border transactions, reduce costs and enhance returns for businesses,” said Sun Yong, vice president of the bank’s Tianjin branch.

    With a global eye, the Xiamen pilot FTZ area in Fujian has been facilitating more convenient trade by taking advantage of its coastal location with ports and shipping facilities.

    The area is endeavoring to build a hub connecting the Silk Road Economic Belt and the 21st Century Maritime Silk Road, while building an interconnected economic corridor. So far, 122 shipping routes named after the “Silk Road Maritime” have been opened, linking 46 countries and 145 ports.

    To date, China has set up 22 pilot FTZs. In 2024, they attracted 28.25 billion dollars of foreign direct investment in actual use, accounting for 24.3 percent of the country’s total, according to the Ministry of Commerce.

    China established its first pilot FTZ in Shanghai in 2013, with the major mission of trialing transformative reforms in government functions, the country’s financial system, trade services, foreign investment and taxation, and pilot policies that could later be applied across the country.

    MIL OSI China News

  • MIL-OSI New Zealand: NZ-EU trade deal delivers export growth

    Source: New Zealand Government

    The early entry into force of the New Zealand–European Union Trade Agreement (FTA) is paying off, with Kiwi goods exports to the EU surging by 28 per cent during the first year. 

    “In the last 12 months our goods exports to the EU surged from $3.8 billion to over $4.8 billion,” Trade and Investment Minister Todd McClay says.

    “This is good news for all New Zealanders, especially our sheep farmers, kiwifruit growers and machinery exporters. Sheep meat was up 29 per cent adding an additional $216 million, kiwifruit has increased by 69 per cent contributing a further $316 million, and machinery was up an impressive 104 per cent providing $173 million more compared to the previous year.

    “Strengthening ties with trading partners is crucial to growing the New Zealand economy and driving up incomes for Kiwis. Better market access, lower costs, and fewer trade barriers with the EU are key to delivering the Government’s ambitious goal of doubling the value of New Zealand’s exports in 10 years.”

    The NZ-EU FTA removed 91 per cent of duties on New Zealand exports immediately, climbing to 97 per cent after seven years. Wine, seafood, and a range of other products are also benefiting from significant tariff reductions.

    “Our growing network of trade agreements means exporters now have more choices about where to sell their world-class products,” Mr McClay says.

    MIL OSI New Zealand News

  • MIL-Evening Report: Tailoring and the Black dandy: how 250 years of Black fashion history inspired the 2025 Met Gala

    Source: The Conversation (Au and NZ) – By Toby Slade, Associate Professor of Fashion, University of Technology Sydney

    Portrait of a Man, c. 1855 National Gallery of Art

    Fashion is one of the most powerful tools we have for understanding ourselves and the world around us. Nowhere is this clearer than in the story of Black American tailoring and the legacy of the Black dandy.

    Inspired by scholar Monica L. Miller’s groundbreaking book Slaves to Fashion: Black Dandyism and the Styling of Black Diasporic Identity, the theme of The Metropolitan Museum of Art’s Costume Institute spring 2025 show is Superfine: Tailoring Black Style.

    The exhibition charts the evolution of the Black dandy from the 18th century to today. The story it tells is about more than suits. It’s about power, pride, resistance and joy.

    Each year, the Met Gala takes its dress code from the institue’s spring exhibition. This year’s is “Tailored for You”. So who is the Black dandy, why are they so important to fashion today, and what can we expect to see on the red carpet?

    The birth of the Black Dandy

    “Black dandy” is a modern term. Figures like American abolitionist Frederick Douglass (1818–95) or Haitian revolutionary leader Toussaint Louverture (1743–1803) would not have called themselves dandies, but they used style with similar effect: as a tool of resistance, self-fashioning and cultural pride.

    Toussaint Louverture was a leader during the widespread uprisings of enslaved people in Saint-Domingue (now Haiti) in 1791. This image was drawn in 1802.
    The Metropolitan Museum of Art

    French poet Charles Baudelaire (1821–67) first wrote about dandies in 1863, describing them as individuals who elevate style to a form of personal and aesthetic resistance.

    Baudelaire’s dandy was not just stylish but symbolic. He was an emblem of modernity itself: a time marked by fluid identities, liminal spaces and the collapse of clear boundaries between gender, authenticity and social order.

    Dandyism among Black men took root in the 18th and 19th centuries in both the United States and the Caribbean. Tailoring became a way to reclaim dignity under enslavement and colonialism.

    Dandies take the clothing of an oppressor – aristocratic, colonial, segregationist or otherwise – and turn it into a weapon of elegance. Through meticulous style and refinement, dandies make a silent yet striking claim to moral superiority.

    Frederick Douglass was born into slavery, and freed in 1838. This photograph shows him in 1855.
    The Metropolitan Museum of Art

    Douglass famously appeared in immaculate Victorian suits when campaigning for abolition, consciously dressing in the same style as those who denied his freedom.

    Louverture used perfectly tailored French military uniforms during the Haitian Revolution against French colonial rule.

    In the 1920s, Harlem dandies wore fine tailoring and flamboyant colours, rejecting the idea that poverty or discrimination should dictate presentation.

    In perfectly tied cravats, polished shoes and sharply tailored coats, Black dandies refashion power on their own terms.

    Presence through style

    Dandies also challenge the narrow rules of masculinity.

    Conventional menswear often demands restraint, toughness and invisibility. Dandies dare to embrace beauty, self-adornment and performance. This masculinity can be expressive, creative and even flamboyant.

    The luxurious silk suits and carefully groomed appearance of American Jazz pioneer Duke Ellington (1899–1974) projected glamour rather than austerity.

    The elegantly tailored overcoats and scarves of American poet Langston Hughes (1901–67) suggested a masculinity deeply entwined with creativity and softness.

    Figures in Harlem’s ballrooms and jazz clubs blurred gender boundaries decades before mainstream conversations about gender fluidity emerged.

    A street scene in Harlem, New York City, photographed in 1943.
    Library of Congress

    A tradition of Black tailoring

    In a world where Black self-presentation has long been scrutinised and politicised, tailored clothing asserted visibility, authority and artistry. Dandies transformed fashion into a political declaration of dignity, resistance and creative power.

    Black American tailoring practices blossomed most visibly in the zoot suits of the Harlem Renaissance, though they also had strong roots in New Orleans, Chicago and the Caribbean.

    As seen in the Sunday Best of the Civil Rights era, Black tailoring walked the line between resistance and celebration: beautiful but with clear political intent.

    In the 1970s, the Black dandy became more flamboyant, wearing tight, colourful clothes with bold accessories. He transformed traditional suits with exaggerated shapes, bright patterns and plaids inspired by African heritage.

    Artists popular with a white audience like Sammy Davis Jr (1925–90), Miles Davis (1926–91) and James Brown (1933–2006) embraced the aesthetic, contributing to its widespread acceptance.

    Sammy Davis Jr with his first European gold record, 1976.
    Nationaal Archief, CC BY

    Meanwhile, a super stylish contingent of Black men in the Congo, La Sapeur, refined their look so spectacularly they would become the benchmark of the Black dandy for generations to come.

    The 1990s saw a new era of Black dandyism emerge through luxury sportswear and hip-hop aesthetics.

    Designer Dapper Dan (1944–) revolutionised fashion by remixing luxury logos into bold, custom streetwear, creating a distinctive Black aesthetic that bridged hip-hop culture and high fashion.

    Musician Andre 3000 (1975–) redefined menswear by blending Southern Black style with bold colour, vintage tailoring and theatrical flair.

    Today, the tradition thrives in the style of influencer Wisdom Kaye, the elegance of LeBron James, and the risk-taking of Lewis Hamilton.

    Dressing for the red carpet

    Tailored for You invites guests to interpret the dandy’s legacy in personal, bold and boundary-pushing ways.

    Whether conforming to tradition, subverting expectations or creating something entirely new, this theme is a celebration of the freedom to dress – and be – on your own terms.

    The Black dandy is a figure of defiance and desire, of ambiguity and brilliance, of resistance and beauty. Dandyism blurs boundaries between masculinity and femininity, artifice and authenticity, conformity and rebellion. It unsettles fixed identities and reflects broader tensions within modern life.

    The poet and activist Countee Cullen, as depicted by Winold Reiss around 1925.
    National Portrait Gallery

    Black dandies have shocked, amused, offended, delighted and inspired society since their inception. In the sharp defiance of Douglass’ Victorian suits, the flamboyant spectacle of Harlem ballrooms, and the logo-laced rebellion of Dapper Dan’s streetwear, the Black dandy has continually forced the world to reckon with the politics of presence, pride and performance.

    Despite being overlooked by mainstream fashion history, they’ve shaped the way we see elegance, masculinity and self-expression. This Met Gala and the accompanying exhibition are not just a celebration – they are a long-overdue recognition.

    Dijanna Mulhearn receives funding from Australian Government Research Training Stipend.

    Toby Slade 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. Tailoring and the Black dandy: how 250 years of Black fashion history inspired the 2025 Met Gala – https://theconversation.com/tailoring-and-the-black-dandy-how-250-years-of-black-fashion-history-inspired-the-2025-met-gala-250650

    MIL OSI AnalysisEveningReport.nz