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Category: CTF

  • MIL-OSI USA: NREL and Google Host Artificial Intelligence Hackathon To Tackle Data Center Energy Challenges

    Source: US National Renewable Energy Laboratory

    Experts Explore Potential of Google AI Tools To Mitigate Potential Energy Limits for Quick Growth of US Data Centers

    NREL and Google teamed up to host a hackathon, bringing together leading researchers from nine U.S. Department of Energy (DOE) national laboratories to explore and leverage Google’s generative artificial intelligence (AI) and large language model tools to address an array of critical challenges related to energy limitations for U.S. data centers.

    Overcoming these challenges is critical to enable scaling for future technologies while ensuring energy reliability and affordability.

    According to Google’s AI definition, fittingly, a hackathon is a collaborative event where people with diverse skills, often programmers and designers, come together to work intensively on a specific project, typically within a short time frame.

    The original idea for the hackathon emerged out of discussions with Google’s public sector team and NREL’s computational science team.

    “Both groups were interested in exposing scientists to some of the latest and greatest AI models to test out what they’re really capable of, but both groups also wanted a targeted application,” said Ray Grout, director of the computational science center at NREL. “Exploring data center energy challenges was a natural fit given the growing demand of energy for AI, and the interest in the topic for the labs and Google.”

    Roughly 50 top minds, including six NREL computational and data scientists, participated in the two-day event, which took place June 17–18 in Washington, D.C. Participants engaged in hands-on experimentation, applying cutting-edge AI capabilities to real-world problems in geospatial analytics, energy systems, data center optimization, and digital-twin development. The hackathon provided a unique platform for participants to directly engage with Google’s AI tools, particularly Gemini, and explore their applicability to a diverse range of scientific and engineering problems.

    The hackathon brought together leading researchers from across DOE’s national laboratories to explore and leverage Google’s generative AI tools. Photo from Beth Hartman, Google

    Google’s AI platform includes several tools that enable researchers to accelerate and expand their work overall. Among the tools are Agentspace and its included agents like Idea Generation and Deep Research. Idea Generation, an agent premade by Google, has the goal of helping with innovation and problem-solving for enterprise users by combining advanced AI with a unique tournament-style competition framework to generate and rank ideas. Deep Research enables researchers to gather, analyze, and understand internal and external information.

    Other tools help improve operational efficiency, allowing researchers to inform their work by more quickly finding resources across labs and agencies. Finally, many tools address specific use cases like geospatial reasoning, population dynamics, and weather forecasting. For example, one demonstration that the Google geospatial team showed at the hackathon used geospatial reasoning and weather forecasting for predicting grid outages. Google teams represented at the hackathon included Google Public Sector, DeepMind, Google Research, and Climate Ops.

    Google’s geospatial reasoning team developed a demo for the hackathon showing outage predictions based on weather forecasting models. Image from Beth Hartman, Google

    “Google was honored to partner with NREL and work with so many DOE labs at this collaborative event,” said Regiuel Days, account executive for federal science and research at Google. “These critical research institutions provide our country with essential insights into key issues such as grid resilience, energy security, and data center optimization. Combined with Google’s data and cutting-edge AI models, we can work together to more quickly find solutions to the big challenges we face.”

    Hackathon Experience and Outcomes

    The hackathon successfully demonstrated the potential of generative AI in accelerating research, automating complex tasks, and generating novel insights.

    During the two-day event, experts teamed up to collaborate and explore the various identified challenges. Some participants focused on geospatial analytics, leveraging Gemini to process and interpret spatial data. Other researchers utilized Gemini’s code-generation and debugging capabilities, while others found Gemini valuable for in-depth research and brainstorming.

    Hackathon participants engaged in collaborative, hands-on experimentation, applying cutting-edge AI capabilities to real-world problems. Photo from Beth Hartman, Google

    NREL’s Gabriel Steenberg was one of several researchers to explore specialized problems. Steenberg explored the Population Dynamics Foundation model to predict power grid behavior, feeding it county-level data to see if it could predict interconnections in other counties. Other laboratories with staff in person at the event included Argonne National Laboratory, Idaho National Laboratory, Jefferson Laboratory, Lawrence Berkeley National Laboratory, National Energy Technology Laboratory, Oakridge National Laboratory, Pacific Northwest National Laboratory, and Sandia National Laboratories.

    The labs explored solutions such as using Vertex AI and Google Earth Engine to better understand data-center load balancing, real-time water data, and cybersecurity. Through these topic explorations, Google gained insights into how national laboratories envision using their AI tools, especially concerning specialized applications like geospatial reasoning, digital twins, and autonomous engineering.

    The hackathon served as a valuable collaborative step, fostering innovation and providing crucial insights into the evolving landscape of generative AI for scientific research. The event generated robust discussion, shared learning, and discoveries and identified opportunities for future follow-on events.

    “We have so many experts across the national labs working on energy challenges, and Google has so many experts developing and deploying AI solutions. This was a great way to get everyone in the same room to figure out what we can do already and where there is more work to be done,” Grout said.

    “Throughout this interactive, guided exploration of Google’s AI models and tools, we learned a tremendous amount about what types of challenges the labs are focused on solving,” said Beth Hartman, Google’s industry executive for federal science and research. “This helps us to better understand how we can help more specifically. Going forward, we are focused on providing the labs with increased access to the models that best support their work. We are also planning to host more hackathons in partnership with the labs and will continue to invite all 17 DOE labs to participate. Stay tuned!”

    Learn more about NREL’s computational science and AI research.

    MIL OSI USA News –

  • MIL-OSI USA: Dr. Matthew Kauffman Receives Aldo Leopold Conservation Award

    Source: US Geological Survey

    In 2012, Matt co-founded (and now directs) the Wyoming Migration Initiative (migrationinitiative.org), whose mission is to advance the understanding, appreciation, and conservation of Wyoming’s migratory ungulates. He teaches graduate seminars in quantitative analysis of spatial wildlife data, community ecology of wildlife, and migration ecology.

    MIL OSI USA News –

  • MIL-OSI: Taxback International rebrands as Fintua

    Source: GlobeNewswire (MIL-OSI)

    Kilkenny, Ireland , July 22, 2025 (GLOBE NEWSWIRE) — Taxback International, a global leader in VAT compliance and recovery, has officially rebranded as Fintua. This rebrand represents the fusion of decades of indirect tax expertise with next-generation SaaS technology, setting a new standard for digital solutions in the fintech space. With this rebrand, the company reinforces its commitment to delivering smarter, more scalable fintech solutions to accelerate positive digital change across the indirect tax landscape.

    Fintua are a global fintech leader, delivering specialist tax technology solutions for indirect tax recovery, compliance, eInvoicing and payments.

    Why the change?

    Fintua represents the evolution of our business from a specialist in VAT reclaim to a global technology expert in the wider fintech industry. As indirect tax grows more complex, businesses are seeking smarter, more agile solutions. Our rebrand signals a commitment to empowering global tax and finance professionals with innovative technology that simplifies complexity, reduces risk and transforms how tax is managed. 

    The name Fintua blends our financial technology focus with a strong connection to our Irish heritage. Fin reflects our fintech expertise, while Tua derived from the Irish word tuath (meaning people or community), highlights our collaborative and client-centric values.  

    A new chapter of innovation 

    Rebranding to Fintua represents more than a name change – it is a statement of intent. We remain the trusted partner our clients know, but with an even greater focus on developing intuitive, expert-built technology that meets both current and future tax challenges. 

    “As we embark on this exciting journey to become Fintua, I am thrilled to see our company evolve into a brand that truly reflects our innovative spirit and commitment to tax technology,” said Catherine Quirke, CEO of Fintua. “This rebranding marks a significant milestone in our growth, and identifies with our ability and commitment to deliver cutting-edge solutions that meet the evolving needs of our customers.” 

    Fintua’s vision is to be a leader in breakthrough technology, accelerating positive digital change throughout the indirect tax and wider fintech community. Our values; empowering, progressive, collaborative, and perceptive—will continue to guide every solution we deliver. 

    “The rebrand of Taxback International to Fintua is a proud moment for all of us at CluneTech. It’s a reflection of how far the business has come since its early days in Kilkenny – growing from a VAT reclaim specialist into a global technology leader in tax and fintech. For me, Fintua stands for innovation, ambition, and the power of a great team working together to solve complex challenges for businesses worldwide. I’m excited to see Fintua lead the way into this new era, continuing our tradition of empowering clients and driving positive change across the industry.” – Terry Clune, CEO and Founder of CluneTech. 

    About Fintua

    Fintua is a global fintech leader, delivering specialist tax technology solutions for indirect tax recovery, compliance, eInvoicing and payments. 

    Press inquiries

    Fintua
    https://fintua.com/
    Katie Fitzpatrick
    kfitzpatrick@fintua.com
    +353 87 020 3636
    IDA Business and Technology Park,
    Ring Road,
    Kilkenny,
    R95 ETN5

    The MIL Network –

  • MIL-OSI: QNB Corp. Reports Earnings for Second Quarter 2025

    Source: GlobeNewswire (MIL-OSI)

    QUAKERTOWN, Pa., July 22, 2025 (GLOBE NEWSWIRE) — QNB Corp. (the “Company” or “QNB”) (OTCQX: QNBC), the parent company of QNB Bank (the “Bank”), reported net income for the second quarter of 2025 of $3,883,000 or $1.04 per share on a diluted basis. This compares to net income of $2,465,000, or $0.67 per share on a diluted basis, for the same period in 2024. For the six months ended June 30, 2025, QNB reported net income of $6,461,000, or $1.74 per share on a diluted basis. This compares to net income of $5,059,000, or $1.38 per share on a diluted basis, reported for the same period in 2024.

    For the second quarter ended June 30, 2025, the annualized rate of return on average assets and average shareholders’ equity was 0.83% and 14.25%, respectively, compared with 0.57% and 10.73%, respectively, for the second quarter 2024.

    The operating performance of the Bank, a wholly-owned subsidiary of QNB Corp., improved for the quarter ended June 30, 2025, in comparison with the same period in 2024, due primarily to improvement in the interest margin causing a $2,915,000 increase in net interest income and a reduction in the provision for credit losses on loans and unfunded commitments of $260,000; this was partly offset by a decrease in non-interest income of $146,000 and an increase in non-interest expense of $539,000. The change in contribution from QNB Corp. for the quarter ended June 30, 2025, compared with the same period in 2024, is primarily due to a decrease in net interest income of $855,000, related to the subordinated debt issuance in 2024.

    The following table presents disaggregated net income (loss):

      Three months ended,           Six months ended,        
      6/30/2025     6/30/2024     Variance     6/30/2025     6/30/2024     Variance  
    QNB Bank $ 4,679,000     $ 2,741,000     $ 1,938,000     $ 7,971,000     $ 5,072,000     $ 2,899,000  
    QNB Corp   (796,000 )     (276,000 )     (520,000 )     (1,510,000 )     (13,000 )     (1,497,000 )
    Consolidated net income $ 3,883,000     $ 2,465,000     $ 1,418,000     $ 6,461,000     $ 5,059,000     $ 1,402,000  
     

    Total assets as of June 30, 2025 were $1,884,828,000 compared with $1,870,894,000 at December 31, 2024. Total cash and cash equivalents increased $15,758,000, or 31.1%, to $66,471,000, primarily due to increases in customer deposits. Loans receivable increased $2,491,000 to $1,218,539,000. Total deposits increased $23,126,000, or 1.4%, to $1,651,667,000. Long-term borrowing declined $30,000,000 and short-term borrowing increased $13,620,000.

    “Consistent with the first quarter, the Bank’s operating performance continued to improve in the second quarter, primarily driven by an expanding net interest margin that positively impacted net interest income,” said David W. Freeman, President and Chief Executive Officer. He added, “Loan and deposit balances remained stable, with modest increases. This tempered growth reflects our customers’ continued cautious borrowing and spending amid ongoing economic uncertainty. Looking ahead, we remain cautiously optimistic about the second half of the year, supported by a strengthening pipeline and signs of businesses adapting to a new economic environment.”

    Net Interest Income and Net Interest Margin

    Net interest income for the quarter ended June 30, 2025 totaled $12,652,000, an increase of $2,060,000, from the same period in 2024. Net interest margin was 2.69% for the second quarter of 2025 and 2.46% for the same period in 2024. Net interest margin was 2.60% for the six months ended June 30, 2025, compared with 2.43% for the same period in 2024.

    The yield on earning assets was 4.90% for the second quarter of 2025, compared with 4.70% in the second quarter of 2024; an increase of 20 basis points. For the six-month period ended June 30, 2025, the yield on earning assets was 4.85%, compared with 4.64% for the same period in 2024. The cost of interest-bearing liabilities was 2.68% for the second quarter ended June 30, 2025, compared with 2.73% for the same period in 2024, a decrease of five basis points. For the six-month period ended June 30, 2025, the cost of interest-bearing liabilities was 2.72% compared with 2.70% for the same period in 2024.

    Proceeds from the growth in average deposits and the issuance of subordinated debt over the past year were invested in loans, higher-yielding securities and used to pay down short-term borrowings. Loan growth was primarily in commercial real estate, which comprised 45.5% of average earning assets in the six months of 2025 compared with 45.2% for the same period in 2024, and the increases in both rates and volume in commercial real estate loans majorly contributed to the 29 basis-point increase in the yield on loans. The increase in the available-for-sale investments portfolio was primarily in corporate debt securities. The 18-basis point increase in rate on investments was primarily due to the 96-basis point increase in the yield on corporate debt securities. The average rate paid on interest-bearing deposits decreased 22 basis points; this was more than offset by the issuance of subordinated debt, which was the primary contributor to the increase in the cost of funds of two basis points.

    Asset Quality, Provision for Credit Losses on Loans and Allowance for Credit Losses

    QNB recorded a reversal of $145,000 in the provision for credit losses on loans in the second quarter of 2025 compared to a $132,000 provision in the second quarter of 2024. QNB recorded a provision of $406,000 in the provision for credit losses on loans for the six-month ended June 30, 2025 compared to a $39,000 provision for the same period of 2024. QNB’s allowance for credit losses on loans of $9,169,000 represents 0.75% of loans receivable at June 30, 2025, compared to $8,744,000, or 0.72% of loans receivable at December 31, 2024. The three-basis point increase in the allowance for credit losses on loans was primarily due to an increase in loans and reserves for collateral dependent loans partly offset by an improvement in the economic outlook. Net loan recoveries were $16,000 for the quarter ended June 30, 2025, compared with charge-offs of $12,000 for the same period in 2024. Annualized net loan recoveries for the quarter ended June 30, 2025 were 0.01% and annualized net loan charge-offs were 0.00% for the quarter ended June 30, 2024, of average loans receivable, respectively. Net loan recoveries were $19,000 for the six months ended June 30, 2025, compared with charge-offs of $33,000 for the same period in 2024. Annualized net loan recoveries for the six months ended June 30, 2025 were 0.00% compared to annualized net charge-offs of 0.01% for the same period in 2024, of average loans receivable, respectively.

    Total non-performing loans, which represent loans on non-accrual status and loans past due 90 days or more and still accruing interest, were $8,947,000, or 0.73% of loans receivable at June 30, 2025, compared with $1,975,000, or 0.16% of loans receivable at December 31, 2024. The increase was primarily due to one commercial customer relationship. In cases where there is a collateral shortfall on non-accrual loans, specific reserves have been established based on updated collateral values even if the borrower continues to pay in accordance with the terms of the agreement. At June 30, 2025, $7,841,000, or approximately 88% of the loans classified as non-accrual, are current or past due less than 30 days. Commercial loans classified as substandard or doubtful loans totaled $34,275,000 at June 30, 2025, compared with $34,301,000 at December 31, 2024; these were comprised primarily of commercial real estate loans.

    Non-Interest Income

    Total non-interest income was $1,652,000 for the second quarter of 2025 compared with $1,465,000 for the same period in 2024. There were no realized and unrealized gain/loss on securities for the quarter ended June 30, 2025 compared to a net loss of $80,000 in the same period in 2024. Excluding the net realized and unrealized gains on securities, non-interest income increased $107,000, or 6.9%. During the second quarter of 2024 the Bank sold lower-yielding securities to better position its net interest margin; the total loss on security sales was $1,096,000. The Bank also completed the exchange offer to convert its Visa B-1 shares to B-2 and C shares; the Bank recorded a $1,354,000 unrealized gain on the Visa C shares in the second quarter of 2024.

    Fees for service to customers increased $58,000 for the quarter ended June 30, 2025, as overdraft fees increased $45,000 and other deposit-related fees increased $13,000. ATM and debit card increased $19,000 due to volume. Retail brokerage and advisory income increased $14,000 to $140,000 for the same period. Other non-interest income increased $10,000 for the same period due to an increase in letter of credit fees of $7,000 and referral income of $6,000.

    For the six months ended June 30, 2025, non-interest income was $3,236,000 a decrease of $65,000 compared to the same period in 2024, primarily due to the change in fair value of the equities portfolio of $986,000 in 2024; primarily related to the Visa stock conversion discussed above. Realized loss on sale of securities in 2024 was $719,000. Net gain on sale of loans increased $9,000 when comparing the six months ended June 30, 2025 with the same period in 2024. Increases in non-interest income for the six months ended June 30, 2025 compared to the same period in 2024 comprise: fees for services to customers, ATM and debit card fees and retail brokerage and advisory, which increased $85,000, $39,000 and $62,000, respectively. Other non-interest income increased $7,000 due primarily to increases in letter of credit fees and title insurance company income partly offset by a decrease in merchant servicing income.

    Non-Interest Expense

    Total non-interest expense was $9,562,000 for the second quarter of 2025 compared with $8,934,000 for the same period in 2024. Salaries and benefits expense increased $213,000, or 4.2%, to $5,251,000 when comparing the two quarters. Salary expense and related payroll taxes increased $350,000, or 8.5%, to $4,447,000 during the second quarter of 2025 compared to the same period in 2024, primarily due to pay increases. Benefits expense decreased $177,000, or 31.3%, when comparing the two periods primarily due to a reduction in medical costs.

    Net occupancy and furniture and equipment expense increased $200,000, or 13.5%, to $1,681,000 for the second quarter of 2025 primarily due to software maintenance costs and depreciation. Other non-interest expense increased $215,000, or 8.9%, when comparing second quarter of 2025 with the same period in 2024 due to an increase in third-party services of $127,000 related to information technology services and consultant expense and an increase in write-offs relating to fraud on customer accounts of $150,000. These increases were partly offset by the recording of a potential expense of $85,000 related to the Visa stock exchange make-whole agreement in the 2024 period.

    For the six months ended June 30, 2025, non-interest expense was $18,931,000, an increase of $1,164,000, or 6.6%, compared to the same period in 2024.

    Income Taxes

    Provision for income taxes increased $461,000 to $1,005,000 in the second quarter of 2025 due increased pre-tax income, compared with the same period in 2024. The effective tax rate for the quarter ended June 30, 2025 was 20.6% compared with 18.1% for the same period in 2024. The effective tax rate for the six months ended June 30, 2025 was 20.1% compared with 19.3% for the same period in 2024.

    About the Company

    QNB Corp. is the holding company for QNB Bank, which is headquartered in Quakertown, Pennsylvania. QNB Bank currently operates twelve branches in Bucks, Lehigh and Montgomery Counties and offers commercial and retail banking services in the communities it serves. In addition, the Company provides securities and advisory services under the name of QNB Financial Services through a registered Broker/Dealer and Registered Investment Advisor, and title insurance as a member of Laurel Abstract Company LLC. More information about QNB Corp. and QNB Bank is available at QNBBank.com.

    Forward Looking Statement

    This press release may contain forward-looking statements as defined in the Private Securities Litigation Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. Such factors include the possibility that increased demand or prices for the Company’s financial services and products may not occur, changing economic and competitive conditions, technological developments, and other risks and uncertainties, including those detailed in the Company’s filings with the Securities and Exchange Commission, including “Item lA. Risk Factors,” set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024. You should not place undue reliance on any forward-looking statements. These statements speak only as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company undertakes no obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release.

    QNB Corp.  
    Consolidated Selected Financial Data (unaudited)  
    (Dollars in thousands)                    
    Balance Sheet (Period End) 6/30/25   3/31/25   12/31/24   9/30/24   6/30/24  
    Assets $ 1,884,828   $ 1,896,189   $ 1,870,894   $ 1,841,563   $ 1,761,487  
    Cash and cash equivalents   66,471     81,557     50,713     104,232     76,909  
    Investment securities                    
    Debt securities, AFS   544,262     547,138     546,559     510,036     460,418  
    Equity securities   —     —     —     2,760     7,233  
    Loans held-for-sale   1,166     248     664     294     786  
    Loans receivable   1,218,539     1,212,162     1,216,048     1,171,361     1,162,310  
    Allowance for credit losses on loans   (9,169 )   (9,298 )   (8,744 )   (8,987 )   (8,858 )
    Net loans   1,209,370     1,202,864     1,207,304     1,162,374     1,153,452  
    Deposits   1,651,667     1,664,555     1,628,541     1,626,284     1,572,839  
    Demand, non-interest bearing   201,460     203,666     183,499     190,240     190,333  
    Interest-bearing demand, money market and savings   1,060,688     1,083,011     1,063,584     1,055,409     1,003,813  
    Time   389,519     377,878     381,458     380,635     378,693  
    Short-term borrowings   67,464     43,299     53,844     22,918     49,066  
    Long-term debt   —     30,000     30,000     30,000     30,000  
    Subordinated debt   39,168     39,118     39,068     39,030     —  
    Shareholders’ equity   113,269     108,223     103,349     105,340     96,885  
                         
    Asset Quality Data (Period End)                    
    Non-accrual loans $ 8,947   $ 8,651   $ 1,975   $ 1,696   $ 2,078  
    Loans past due 90 days or more and still accruing   —     —     —     —     —  
    Non-performing loans   8,947     8,651     1,975     1,696     2,078  
    Other real estate owned and repossessed assets   —     —     —     —     —  
    Non-performing assets $ 8,947   $ 8,651   $ 1,975   $ 1,696   $ 2,078  
                         
    Allowance for credit losses on loans $ 9,169   $ 9,298   $ 8,744   $ 8,987   $ 8,858  
                         
    Non-performing loans / Loans excluding held-for-sale   0.73 %   0.71 %   0.16 %   0.14 %   0.18 %
    Non-performing assets / Assets   0.47 %   0.46 %   0.11 %   0.09 %   0.12 %
    Allowance for credit losses on loans / Loans excluding held-for-sale   0.75 %   0.77 %   0.72 %   0.77 %   0.76 %
     
    QNB Corp.
    Consolidated Selected Financial Data (unaudited)
    (Dollars in thousands, except per share data) Three months ended,   Six months ended,
    For the period: 6/30/25 3/31/25 12/31/24 9/30/24 6/30/24   6/30/25 6/30/24
    Interest income $ 23,110   $ 22,198   $ 22,209   $ 21,945   $ 20,345     $ 45,308   $ 39,914  
    Interest expense   10,458     10,661     11,234     10,818     9,753       21,119     19,154  
    Net interest income   12,652     11,537     10,975     11,127     10,592       24,189     20,760  
    (Reversal of) provision for credit losses   (146 )   550     (255 )   159     114       404     28  
    Net interest income after provision for credit losses   12,798     10,987     11,230     10,968     10,478       23,785     20,732  
    Non-interest income:                
    Fees for services to customers   485     447     454     469     427       932     847  
    ATM and debit card   724     656     708     691     705       1,380     1,341  
    Retail brokerage and advisory income   140     141     118     139     126       281     219  
    Net realized gain (loss) on investment securities   –     –     1,414     224     (1,096 )     –     (719 )
    Unrealized (loss) gain on equity securities   –     –     (1,344 )   143     1,016       –     986  
    Net (loss) gain on sale of loans   4     18     (3 )   19     (2 )     22     13  
    Other   299     322     298     282     289       621     614  
    Total non-interest income   1,652     1,584     1,645     1,967     1,465       3,236     3,301  
    Non-interest expense:                
    Salaries and employee benefits   5,251     5,032     5,079     4,650     5,038       10,283     10,012  
    Net occupancy and furniture and equipment   1,681     1,736     1,653     1,531     1,481       3,417     2,996  
    Other   2,630     2,601     2,349     2,455     2,415       5,231     4,759  
    Total non-interest expense   9,562     9,369     9,081     8,636     8,934       18,931     17,767  
    Income before income taxes   4,888     3,202     3,794     4,299     3,009       8,090     6,266  
    Provision for income taxes   1,005     624     743     961     544       1,629     1,207  
    Net income $ 3,883   $ 2,578   $ 3,051   $ 3,338   $ 2,465     $ 6,461   $ 5,059  
    Share and Per Share Data:                
    Net income – basic $ 1.05   $ 0.70   $ 0.83   $ 0.91   $ 0.67     $ 1.74   $ 1.38  
    Net income – diluted $ 1.04   $ 0.69   $ 0.83   $ 0.91   $ 0.67     $ 1.74   $ 1.38  
    Book value $ 30.46   $ 27.96   $ 28.57   $ 26.34   $ 25.57     $ 30.46   $ 25.57  
    Cash dividends $ 0.38   $ 0.38   $ 0.37   $ 0.37   $ 0.37     $ 0.76   $ 0.74  
    Average common shares outstanding -basic   3,710,878     3,699,854     3,688,078     3,679,799     3,665,695       3,705,396     3,660,435  
    Average common shares outstanding -diluted   3,724,808     3,713,141     3,695,518     3,682,773     3,665,695       3,718,513     3,660,435  
    Selected Ratios:                
    Return on average assets (1)   0.83 %   0.56 %   0.66 %   0.74 %   0.57 %     0.69 %   0.59 %
    Return on average shareholders’ equity (1)   14.25 %   9.73 %   11.62 %   13.25 %   10.73 %     12.02 %   11.05 %
    Net interest margin (tax equivalent)   2.69 %   2.51 %   2.38 %   2.48 %   2.46 %     2.60 %   2.43 %
    Efficiency ratio (tax equivalent)   66.39 %   70.65 %   71.16 %   65.27 %   73.26 %     68.43 %   73.00 %
    Average shareholders’ equity to total average assets   5.79 %   5.74 %   5.65 %   5.59 %   5.35 %     5.77 %   5.35 %
    Net loan (recoveries) charge-offs $ (16 ) $ (3 ) $ 1   $ 25   $ 12     $ (19 ) $ 33  
    Net loan (recoveries) charge-offs – annualized / Average loans excluding held-for-sale   -0.01 %   0.00 %   0.00 %   0.01 %   0.00 %     0.00 %   0.01 %
    Balance Sheet (Average)                
    Assets (1) $ 1,887,138   $ 1,872,950   $ 1,848,524   $ 1,792,952   $ 1,729,132     $ 1,880,083   $ 1,719,837  
    Investment securities   621,128     614,329     552,323     569,135     578,615       623,827     573,876  
    Loans receivable   1,216,011     1,193,949     1,158,731     1,139,874     1,108,836       1,213,173     1,124,354  
    Deposits   1,647,990     1,635,629     1,600,925     1,542,661     1,497,692       1,640,634     1,520,176  
    Shareholders’ equity (1)   109,299     107,503     104,433     100,192     92,432       108,406     92,064  
                     
    (1) In 2025, the Company changed its calculation of average assets and average equity to include the impact of accumulated other comprehensive income (loss), net of tax, to align its calculation with its peer group. Prior period information has been restated for this new calculation; specifically impacting the non-GAAP performance ratios for return on average assets and return on average equity.
     
    QNB Corp. (Consolidated)  
    Average Balances, Rate, and Interest Income and Expense Summary (Tax-Equivalent Basis)  
                               
      Three Months Ended  
      June 30, 2025     June 30, 2024  
      Average   Average         Average   Average      
      Balance   Rate   Interest     Balance   Rate   Interest  
    Assets                          
    Investment securities:                          
    U.S. Treasury $ 21,032     4.24 % $ 223     $ 6,824     5.19 % $ 88  
    U.S. Government agencies   75,963     1.18     224       84,558     1.17     246  
    State and municipal   105,090     2.88     756       107,881     3.51     947  
    Mortgage-backed and CMOs   354,349     2.46     2,184       356,650     2.73     2,436  
    Corporate debt securities and mutual funds   64,694     6.38     1,031       6,721     5.72     96  
    Equities   –     –     –       6,501     3.55     57  
    Total investment securities   621,128     2.84     4,418       569,135     2.72     3,870  
    Loans:                          
    Commercial real estate   863,096     5.94     12,775       801,691     5.46     10,876  
    Residential real estate   114,600     4.38     1,255       108,693     4.07     1,106  
    Home equity loans   70,666     6.41     1,130       65,575     6.83     1,114  
    Commercial and industrial   145,262     7.41     2,682       142,174     7.60     2,686  
    Consumer loans   3,355     7.70     65       3,781     7.50     71  
    Tax-exempt loans   19,347     4.23     205       18,284     3.87     176  
    Total loans, net of unearned income*   1,216,326     5.97     18,112       1,140,198     5.65     16,029  
    Other earning assets   61,355     4.45     680       43,200     5.44     584  
    Total earning assets   1,898,809     4.90     23,210       1,752,533     4.70     20,483  
    Cash and due from banks   13,806               13,313          
    Accumulated other comprehensive loss, net of tax   (59,922 )             (68,908 )        
    Allowance for credit losses on loans   (9,376 )             (8,885 )        
    Other assets   43,821               41,079          
    Total assets $ 1,887,138             $ 1,729,132          
                               
    Liabilities and Shareholders’ Equity                          
    Interest-bearing deposits:                          
    Interest-bearing demand $ 376,735     0.94 %   888     $ 334,017     0.84 %   702  
    Municipals   146,214     3.92     1,427       132,762     4.81     1,587  
    Money market   259,621     2.88     1,862       229,984     3.58     2,049  
    Savings   281,076     1.29     901       290,172     1.28     924  
    Time < $100   179,411     3.61     1,617       170,640     4.03     1,708  
    Time $100 through $250   155,026     3.99     1,542       143,315     4.59     1,636  
    Time > $250   51,832     4.08     527       53,316     4.63     614  
    Total interest-bearing deposits   1,449,915     2.42     8,764       1,354,206     2.74     9,220  
    Short-term borrowings   70,942     3.90     689       52,383     1.52     199  
    Long-term debt   5,495     4.79     67       28,132     4.70     334  
    Subordinated debt   39,141     9.58     938       —     —     —  
    Total borrowings   115,578     5.88     1,694       80,515     2.66     533  
    Total interest-bearing liabilities   1,565,493     2.68     10,458       1,434,721     2.73     9,753  
    Non-interest-bearing deposits   198,075               188,455          
    Other liabilities   14,271               13,524          
    Shareholders’ equity   109,299               92,432          
    Total liabilities and                          
    shareholders’ equity $ 1,887,138             $ 1,729,132          
    Net interest rate spread       2.22 %             1.97 %    
    Margin/net interest income       2.69 % $ 12,752           2.46 % $ 10,730  
    Tax-exempt securities and loans were adjusted to a tax-equivalent basis and are based on the Federal corporate tax rate of 21%  
    Non-accrual loans and investment securities are included in earning assets.  
    * Includes loans held-for-sale  
       
    QNB Corp. (Consolidated)  
    Average Balances, Rate, and Interest Income and Expense Summary (Tax-Equivalent Basis)  
                               
      Six Months Ended  
      June 30, 2025     June 30, 2024  
      Average   Average         Average   Average      
      Balance   Rate   Interest     Balance   Rate   Interest  
    Assets                          
    Investment securities:                          
    U.S. Treasury $ 20,596     4.31 % $ 440     $ 6,803     5.26 % $ 178  
    U.S. Government agencies   75,962     1.18     448       84,755     1.17     494  
    State and municipal   105,172     2.87     1,510       108,027     3.46     1,871  
    Mortgage-backed and CMOs   358,969     2.45     4,392       361,317     2.66     4,809  
    Corporate debt securities and mutual funds   63,128     6.62     2,089       6,714     5.66     190  
    Equities   –     –     –       6,260     3.63     113  
    Total investment securities   623,827     2.85     8,879       573,876     2.67     7,655  
    Loans:                          
    Commercial real estate   860,363     5.82     24,844       788,413     5.40     21,176  
    Residential real estate   114,436     4.36     2,493       108,808     3.99     2,172  
    Home equity loans   69,327     6.41     2,204       63,922     6.82     2,169  
    Commercial and industrial   146,962     7.41     5,399       141,233     7.55     5,301  
    Consumer loans   3,400     7.69     130       3,712     7.80     144  
    Tax-exempt loans   19,073     4.19     397       18,462     3.85     353  
    Total loans, net of unearned income*   1,213,561     5.89     35,467       1,124,550     5.60     31,315  
    Other earning assets   54,536     4.44     1,202       44,922     5.48     1,223  
    Total earning assets   1,891,924     4.85     45,548       1,743,348     4.64     40,193  
    Cash and due from banks   13,517               13,041          
    Accumulated other comprehensive loss, net of tax   (59,954 )             (68,475 )        
    Allowance for credit losses on loans   (9,059 )             (8,916 )        
    Other assets   43,655               40,839          
    Total assets $ 1,880,083             $ 1,719,837          
                               
    Liabilities and Shareholders’ Equity                          
    Interest-bearing deposits:                          
    Interest-bearing demand $ 378,504     0.98 %   1,832     $ 327,961     0.82 %   1,345  
    Municipals   147,887     3.93     2,883       132,325     4.81     3,164  
    Money market   257,952     2.88     3,680       228,928     3.57     4,064  
    Savings   280,371     1.29     1,794       294,262     1.28     1,873  
    Time < $100   178,958     3.70     3,287       164,175     3.90     3,181  
    Time $100 through $250   154,578     4.12     3,155       135,464     4.47     3,013  
    Time > $250   50,317     4.19     1,045       51,536     4.43     1,136  
    Total interest-bearing deposits   1,448,567     2.46     17,676       1,334,651     2.68     17,776  
    Short-term borrowings   59,300     3.90     1,145       69,912     2.37     824  
    Long-term debt   17,735     4.74     423       24,066     4.56     554  
    Subordinated debt   39,117     9.59     1,875       —     —     —  
    Total borrowings   116,152     5.98     3,443       93,978     2.95     1,378  
    Total interest-bearing liabilities   1,564,719     2.72     21,119       1,428,629     2.70     19,154  
    Non-interest-bearing deposits   192,067               185,525          
    Other liabilities   14,891               13,619          
    Shareholders’ equity   108,406               92,064          
    Total liabilities and                          
    shareholders’ equity $ 1,880,083             $ 1,719,837          
    Net interest rate spread       2.13 %             1.94 %    
    Margin/net interest income       2.60 % $ 24,429           2.43 % $ 21,039  
    Tax-exempt securities and loans were adjusted to a tax-equivalent basis and are based on the Federal corporate tax rate of 21%  
    Non-accrual loans and investment securities are included in earning assets.  
    * Includes loans held-for-sale                          

    The MIL Network –

  • MIL-OSI: C&F Announces Expansion into Southwest Virginia

    Source: GlobeNewswire (MIL-OSI)

    TOANO, Va., July 22, 2025 (GLOBE NEWSWIRE) — C&F Financial Corporation (the Corporation) (NASDAQ: CFFI), the holding company for C&F Bank, is proud to announce a significant expansion of its commercial banking operations with a seasoned team that will establish its presence in Southwest Virginia. This strategic move positions C&F to serve key markets including Roanoke, Lynchburg, Danville, Martinsville, and Blacksburg.

    Leading this expansion is Matt Hubbard, who joins as Southwest Virginia Regional President. With over 15 years of commercial banking leadership experience, most recently at Atlantic Union Bank, (formerly American National Bank). Matt brings deep market knowledge and a strong commitment to community engagement. He is a graduate of Radford University and the William & Mary Mason School of Business.

    Joining Matt are two highly respected banking professionals:

    • Sally Siveroni, Commercial Credit Officer, began her banking career in 1986 and most recently served as Regional Credit Officer at Atlantic Union Bank. She is a graduate of James Madison University.
    • James Little, Commercial Banking Relationship Manager, has 17 years of experience in both retail and commercial banking. A fellow James Madison University graduate and VBA Bank School alumnus, James is also deeply involved in community initiatives.

    “We are thrilled to welcome Matt, Sally, and James to the C&F family,” said Tom Cherry, President and CEO of C&F Bank. “Their expertise and strong community ties will accelerate our growth in this promising region, where we already enjoy strong customer relationships.”

    With this expansion, C&F is now firmly positioned as one of the premier community banks serving the entire Commonwealth of Virginia—an achievement that underscores the company’s strategic vision and competitive strength.

    About C&F

    C&F Bank operates 31 banking offices and five commercial loan offices located throughout Virginia and offers full wealth management services through its subsidiary C&F Wealth Management, Inc. C&F Mortgage Corporation and its subsidiary C&F Select LLC provide mortgage loan origination services through offices located in Virginia and the surrounding states. C&F Finance Company provides automobile, marine and recreational vehicle loans through indirect lending programs offered primarily in the Mid-Atlantic, Midwest and Southern United States from its headquarters in Henrico, Virginia.

    Additional information regarding the Corporation’s products and services, as well as access to its filings with the Securities and Exchange Commission, are available on the Corporation’s website at http://www.cffc.com.

    Contact: Jason Long, CFO and Secretary
      (804) 843-2360

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7e0101d3-4ffc-436f-a151-f7f79df53bdd

    The MIL Network –

  • MIL-OSI: Layton Construction and TrueLook Partner to Deliver Complete Construction Site Visibility for Utah Mammoth’s New Practice Facility

    Source: GlobeNewswire (MIL-OSI)

    SALT LAKE CITY, July 22, 2025 (GLOBE NEWSWIRE) — Layton Construction, a leading national commercial contractor, is collaborating with TrueLook, an innovator in jobsite camera technology, to provide comprehensive visual oversight for the construction of the Utah Mammoth’s new practice and training facility at the Shops at South Town in Sandy.

    As the general contractor for this project, Layton Construction is leveraging TrueLook’s solutions, including a high-resolution 4K IR fixed camera and an intuitive platform. These technologies are providing Layton’s project managers with comprehensive, real-time visibility across the entire construction site.

    The integration of TrueLook’s cameras provides several key benefits, such as helping the project remain on schedule and keeping stakeholders consistently informed. The improved visibility allows Layton’s team to proactively monitor progress, identify potential challenges early, and make data-driven decisions to minimize delays. Furthermore, the visual access provided by the cameras keeps stakeholders directly connected to the project’s evolution, fostering clear communication and collaboration.

    “We rely on TrueLook Cameras to stay on top of what’s happening on our projects 24/7,” says Austin Lay, a Senior VDC Manager at Layton Construction. “With so much going on, it’s reassuring to have that second, third, or even fourth set of eyes helping us. TrueLook has proven to be a great partner, consistently delivering time and time again.”

    TrueLook’s technology offers significant advantages beyond standard monitoring. The 4K IR Fixed Camera captures exceptionally clear imagery, even in low-light or nighttime conditions, providing continuous visual insights into site activity around the clock. This ability to maintain comprehensive visibility, regardless of the time of day, empowers Layton to manage the complex construction process with greater precision.

    This partnership between Layton Construction and TrueLook underscores a commitment to innovation and efficiency in bringing this exciting project to life.

    About Layton Construction

    Layton Construction is a privately held national general contractor, delivering predictable outcomes in commercial construction since 1953. Headquartered in Salt Lake City, Utah, Layton operates from 16 strategic offices across the United States, employing more than 1,400 construction professionals who serve diverse markets including healthcare, education, commercial office, industrial, hospitality, and multi-unit residential. Founded on the core values of honesty, unity, safety, and quality, Layton has built a reputation for excellence in complex project delivery while maintaining strong partnerships with clients, architects, and trade partners nationwide.

    About TrueLook
    TrueLook provides construction teams with total jobsite visibility combining rugged, easy-to-deploy cameras with a powerful platform built for the realities of the field. From live streaming and cinematic time-lapses to AI-powered security, TrueLook helps builders document progress, protect assets, and keep stakeholders aligned. Thousands of projects across North America rely on TrueLook to stay informed and in control at every stage of the build.

    Media Contact
    Allison Shaub
    Chief Marketing Officer
    allison.shaub@truelook.com

    The MIL Network –

  • MIL-OSI USA: Cotton, Colleagues Introduce Legislation to Ban Toxic Metals from Baby Formula

    US Senate News:

    Source: United States Senator for Arkansas Tom Cotton
    FOR IMMEDIATE RELEASEContact: Caroline Tabler or Patrick McCann (202) 224-2353July 22, 2025
    Cotton, Colleagues Introduce Legislation to Ban Toxic Metals from Baby Formula
    Washington, D.C. — Senator Tom Cotton (R-Arkansas) today introduced the Safe Baby Formula Act, legislation that would ban all toxic heavy metals from baby formula and require the FDA to study the effects of metals in formula.
    This legislation is cosponsored by Senators Katie Britt (R-Alabama), Rick Scott (R-Florida), and Josh Hawley (R-Missouri).
    “New parents should not have to worry about toxic heavy metals being a part of their infant’s formula, or what potential side-effects they may have. This legislation will bring much-needed transparency to the FDA’s rules around infant formula,” said Senator Cotton.
    “The health and safety of our children are paramount. They are our future and God’s greatest blessings, and I believe we should take every necessary step to ensure parents are well-equipped to raise strong families. I’m proud to join Senator Cotton in introducing the Safe Baby Formula Act, because ‘Making America Healthy Again’ starts with precious babies,” said Senator Britt.
    Text of the bill may be found here.
    The Safe Baby Formula Act would:
    Direct FDA to conduct a study on the impact that exposure to toxic heavy metals through infant formula has on infant health; and
    Direct FDA to ban toxic heavy metals from being included in infant formula all together.

    MIL OSI USA News –

  • MIL-OSI USA: Boozman, Britt, Hill Work to Protect Small Business Access to Capital, Fight Regulatory Overreach

    US Senate News:

    Source: United States Senator for Arkansas – John Boozman

    WASHINGTON—U.S. Senators John Boozman (R-AR) and Katie Britt (R-AL) introduced legislation in response to the finalization of the Biden administration’s Consumer Financial Protection Bureau (CFPB) 1071 Small Business Lending Data Collection rule requiring small business lenders to collect and report social data on small businesses seeking loans.

    The senators’ Preventing Regulatory Overreach to Empower Communities to Thrive and Ensure Data privacy (PROTECTED) Act would shield small financial institutions and Main Street businesses from the burdensome compliance costs associated with the CFPB rule as well as limit the number of small businesses impacted and significantly reduce the amount of data required to be collected and reported.

    “As the backbone of our economy, small businesses need access to capital. Identity-based data collection requirements handed down from Washington jeopardize lenders’ ability to provide vital investments and invite the federal government to pick winners and losers based on factors other than sound underwriting. Our legislation cuts this red tape for small and local financial institutions, including those trusted by farmers and rural communities, so they can focus on helping entrepreneurs and business owners launch or expand operations,” Boozman said. 

    “The CFPB under the last administration operated virtually unchecked—with no real Congressional oversight—and in an authoritarian manner, creating a regulatory nightmare for the very people and businesses it was meant to protect,” said Britt. “The PROTECTED Act delivers much-needed regulatory relief for community banks, farm credit lenders, CDFIs, and equipment financers. Importantly, this legislation safeguards small businesses by limiting excessive data collection and protecting consumer privacy. I’m proud to lead this effort to provide critical changes to this harmful rule.”

    “I will always advocate for small businesses across Alabama and our nation –– they’re the backbone of our country and what make our communities so unique — and our community banks play a pivotal role in providing these businesses with vital access to capital,” Britt continued. “This CFPB rule would have damaging downstream effects on our most rural and underserved communities. In the absence of a full repeal, this bill makes critical changes needed to ensure small lenders can continue to meet the needs of Main Street businesses.”

    The Chairman of the House Financial Services Committee Rep. French Hill (AR-01) is leading similar legislation in the U.S. House of Representatives.

    “America’s small businesses depend on affordable and accessible credit, and community banks play a crucial role in their success. The CFPB’s current approach under the 1071 rule restricts credit and places unfair burdens on our community banks. The PROTECTED Act provides a clear path forward for how the Bureau can revise the 1071 rule to best support small businesses while ensuring responsible lending. I thank Senator Britt and Senator Boozman for working with me on companion legislation to the Small LENDER Act to support policies that help small businesses grow and achieve success,” said Hill.

    The PROTECTED Act also establishes critical safeguards to prevent the CFPB from publishing sensitive consumer data and requires the Bureau to conduct updated cost-benefit analyses prior to the rule’s implementation. Its effective date would be three years after the completion of these updated analyses and publication in the Federal Register, followed by a two-year grace period. 

    Boozman has pushed back against the regulation, designed to implement Sec. 1071 of the Dodd-Frank Act, and CFPB’s implementation that attempts to pick small business winners and losers based on social factors. The senator also supported a Congressional Review Act resolution to reverse the Biden-era CFPB rule.

    Click here for full bill text.

    MIL OSI USA News –

  • MIL-OSI USA: Boozman Joins Push to Expand Access to Mental Health Care for Farmers, Rural Communities

    US Senate News:

    Source: United States Senator for Arkansas – John Boozman

    WASHINGTON—U.S. Senator John Boozman (R-AR), Chairman of the Senate Agriculture, Nutrition, and Forestry Committee, joined a bipartisan group of colleagues led by Senators Tammy Baldwin (D-WI) and Joni Ernst (R-IA) to introduce the Farmers First Act of 2025, legislation aimed at strengthening mental health resources for farmers, ranchers and rural communities. The Farmers First Act of 2025 reauthorizes and increases funding for the Farm and Ranch Stress Assistance Network (FRSAN), a program that connects agricultural workers to critical stress assistance and mental health services.

    “Arkansas farmers face unique challenges that are often beyond their control and can take a serious toll on their mental health – from unpredictable weather and market volatility to the isolation that often comes with rural life,” Boozman said. “We have a responsibility to ensure they are not facing these burdens alone. This legislation builds on our efforts to deliver meaningful support and expand access to mental health care in rural communities.” 

    “Wisconsin’s farmers and ranchers work hard every day to keep their businesses running and our Made in Wisconsin agricultural economy moving forward. But too often, the stress, isolation, and physical demands of this job leave them with nowhere to turn when it all gets to be too much,” Baldwin said. “I’m working to make sure our farmers and rural communities have the resources they need because no one should have to fight these battles alone.”

    “Iowa farmers work tirelessly from sunrise to sundown – rain or shine – to feed and fuel the world. Their work isn’t easy, and mental health issues, including suicide, are too common in our agriculture community, which is why I’m working to ensure farmers have better access to mental health resources,” Ernst said. 

    The Farmers First Act of 2025 would authorize $15 million annually for FRSAN through fiscal year 2030, up from the current $10 million. These funds will help state departments of agriculture, extension services and nonprofits provide:

    • Suicide prevention training for farm advocates;
    • Behavioral health specialists to serve agricultural communities;
    • Support groups tailored to farmers, ranchers and farmworkers; and
    • Expanded crisis hotlines and referral services.

    Boozman helped establish FRSAN in the 2018 Farm Bill and has consistently advocated for its expansion. The program currently operates through four regional centers and has proven effective in increasing access to mental health services in rural areas. 

    Senators Susan Collins (R-ME) and Tina Smith (D-MN) have co-sponsored the bill.

    The Farmers First Act of 2025 also has the support of the National Farmers Union, National Rural Health Association, National Milk Producers Federation, Agriculture Retailers Association, The National Council, FarmFirst Dairy Cooperative, Organic Trade Association, American Psychological Association Services, NCBA CLUSA, Farm Credit Council, National Association of State Departments of Agriculture, Organic Farmers Association, National Pork Producers Council, American Soybean Association, Midwest Dairy Coalition, Farm Aid, National Association of Wheat Growers, National Corn Growers Association, Northeast Organic Dairy Producers Alliance, Sustainable Food Policy Alliance, National Sustainable Agriculture Coalition, National Organic Coalition, Farmer Veteran Coalition and American Farm Bureau Federation. 

    Bill text is available here.

    MIL OSI USA News –

  • MIL-OSI Canada: New Fund to Support Growth in Agriculture, Seafood Sectors

    Source: Government of Canada regional news

    The Province is launching a new fund to support big, bold projects in the agriculture and seafood sectors.

    “This fund is about supporting the people who bring new ideas to grow our economy and help businesses,” said Greg Morrow, Minister of Agriculture. “Agriculture and seafood are important traditional industries in our province. But we can’t keep doing things the same old way – we need to support fresh thinking and innovation.”

    The Nova Scotia Seafood and Agriculture Strategic Investment Fund will support companies proposing large-scale projects that boost productivity and help their business expand. It could involve adopting new technology, changing how they do business, or finding new markets for their products.

    “We are looking for creative ideas that can take businesses to the next level,” said Kent Smith, Minister of Fisheries and Aquaculture. “This isn’t just about helping individual companies, this is an all-hands-on-deck effort to build stronger industries and a stronger province.”

    Quotes:

    “Innovation truly thrives when industry and government actively join forces, combining expertise to drive meaningful progress and accelerate impactful change. Oberland welcomes opportunities to partner with the Government of Nova Scotia to advance sustainable solutions that turn local challenges into global leadership.”
    — Greg Wanger, founder and CEO, Oberland Agriscience Inc.

    “We’re pleased to see this investment as a positive step forward for Nova Scotia’s agriculture industry. Strategic support like this helps strengthen our competitiveness, drives innovation and creates opportunities for sustainable growth in the sector.”
    — Alicia King, President, Nova Scotia Federation of Agriculture

    “The members of the Nova Scotia Seafood Alliance are experiencing first-hand the challenges of tariffs and the changing expectations of our global seafood customers. We need an industry that is innovative, resilient and adaptive to meet the needs of more diverse markets and customers so that we can maximize the economic value of the seafood sector for Nova Scotia’s seafood producers and for Nova Scotians. The alliance is pleased that with the launch of the new Nova Scotia Seafood and Agriculture Strategic Investment Fund, the Province is showing its continued commitment to supporting the innovation and diversification efforts of the seafood sector as we continue to evolve to provide the highest quality seafood to the world.”
    — Allan MacLean, President, Nova Scotia Seafood Alliance

    Quick Facts:

    • the Province is providing $4.71 million for the fund
    • funded projects must be completed by January 2027
    • the fund will be managed by Perennia, a provincial development agency with a mission to support growth, transformation and economic development in Nova Scotia’s agriculture, seafood and food and beverage sectors

    Additional Resources:

    Nova Scotia Seafood and Agriculture Strategic Investment Fund: https://www.perennia.ca/sasi/

    News release – New Mapping Tool Supports Aquaculture Growth: https://news.novascotia.ca/en/2025/07/03/new-mapping-tool-supports-aquaculture-growth

    News release – Seafood Companies Receive Climate Change Funding: https://news.novascotia.ca/en/2025/06/27/seafood-companies-receive-climate-change-funding

    News release – Province Partners with Horticulture Nova Scotia to Extend Growing Season: https://news.novascotia.ca/en/2025/06/04/province-partners-horticulture-nova-scotia-extend-growing-season

    News release – New Food Safety Pilot Program to Help Local Producers Expand: https://news.novascotia.ca/en/2025/04/25/new-food-safety-pilot-program-help-local-producers-expand

    Other than cropping, Province of Nova Scotia photos are not to be altered in any way.

    MIL OSI Canada News –

  • MIL-OSI USA: Carbajal Co-Leads Bipartisan Immigration Reform Bill

    Source: United States House of Representatives – Representative Salud Carbajal (CA-24)

    U.S. Representative Salud Carbajal (D-CA-24) joined Representatives Veronica Escobar (D-TX-16) and Maria Elvira Salazar (R-FL-27), along with 17 of their colleagues, to reintroduce the bipartisan immigration reform bill, the Dignity Act of 2025. The bill includes commonsense reforms to legal status and protections for undocumented immigrants, border security investments, and improved asylum and visa processes.

    “Our country needs to reform our broken immigration system,” said Rep. Carbajal. “Immigrants have long been key to the American economy’s success, and I believe it’s in our country’s best interests to ensure the world’s talent can continue to come here. I’m proud to co-sponsor the bipartisan Dignity Act to provide a commonsense solution that will create improved pathways for legal immigration while bolstering our border security.”

    This comprehensive bill makes meaningful reforms to several aspects of our immigration system:

    • It grants legal status and protections to undocumented immigrants already living in the United States;
    • It reforms the asylum screening process to provide opportunity for review and access to council;
    • It creates new regional processing centers, so migrants do not have to make the perilous journey to the U.S./ Mexico border to seek asylum;
    • It invests in border security and modernizes our land ports of entry;
    • It mandates accountability for Immigration and Customs Enforcement (ICE);
    • It provides a pathway to citizenship for Dreamers.

    The last time Congress passed immigration reform was in 1996. That bill eliminated several legal immigration pathways, essentially making fewer people eligible for legal status while making more people deportable. As we are witnessing historic executive overreach and redirection of resources to our border, it is clear Congress needs to update our immigration laws.

    A summary of the bill can be found here and full text can be found here.

    Last week, Carbajal reintroduced the Fight for the American Dream Act, legislation that allows participants of the Deferred Action for Childhood Arrival (DACA) program to serve in the United States military and provides them a pathway toward U.S. citizenship after their service.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Relief Still Available to Missouri Small Businesses, Private Nonprofits and Residents Affected by April Storms

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding eligible small businesses, private nonprofits, and residents in Missouri of the Aug. 22 deadline to apply for low interest federal disaster loans to offset physical damage caused by severe storms, tornadoes, straight-line winds, heavy rains, large hail, flooding and flash flooding occurring April 29.

    The disaster declaration covers the Missouri counties of Barry, Christian, Dade, Dallas, Greene, Jasper, Lawrence, McDonald, Newton, Polk, Stone and Webster as well as the Kansas county of Cherokee, and the Oklahoma county of Ottawa.

    Small businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

    Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

    Applicants may also be eligible for a loan increase of up to 20% of their physical damage, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include strengthening structures to protect against high wind damage, upgrading to wind rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage.

    “One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s physical damage loans.”

    SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries and private nonprofit (PNP) organizations impacted by financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

    Interest rates can be as low as 4% for small businesses, 3.625% for nonprofits, and 2.813% for homeowners and renters with terms up to 30 years. Interest does not begin to accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms, based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The deadline to return physical damage applications is Aug. 22.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Relief Still Available to Idaho Small Businesses and Private Nonprofits Affected by the Gwen Fire

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding small businesses  and private nonprofit (PNP) organizations in Idaho of the Aug. 22, 2025 deadline to apply for low interest federal disaster loans to offset economic losses caused by the Gwen Fire occurring July 24‑Aug. 9, 2024.

    The disaster declaration covers the Idaho counties of Clearwater, Idaho, Latah, Lewis and Nez Perce as well as the Oregon county of Wallowa, and the Washington counties of Asotin and Whitman.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs impacted by financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the small business did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    “SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs with terms up to 30 years. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to the SBA no later than Aug. 22.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: Sen. RaShaun Kemp Responds to Partial Release of Frozen Federal Education Funds

    Source: US State of Georgia

    ATLANTA (July 22, 2025) —Today, Sen. RaShaun Kemp (D–Atlanta) issued the following statement regarding the federal government’s decision to release a portion of previously frozen funds for after-school and summer programs:

    “I welcome the administration’s decision to release $1.3 billion in frozen funding for after-school and summer learning programs, but the damage has already been done. This last-minute reversal caused unnecessary disruption for school districts and families preparing for the upcoming school year. Withholding congressionally approved funding at such a critical moment was destabilizing and avoidable.

    The federal government is still withholding $5 billion in funding that schools are counting on. I urge the administration to release these remaining funds without delay. This money supports teacher training, English language learners and the core infrastructure needed to help students and educators succeed. The longer the funds remain out of reach, the more we risk failing the very people our public education system is meant to serve.

    I will continue to speak out when this administration makes reckless decisions that jeopardize education and disrupt the lives of families who rely on it. Silence in the face of bad policy is not leadership. It is our responsibility to hold decision-makers accountable and fight for a future where every student has the tools they need to reach their full potential.”

    # # # #

    Sen. RaShaun Kemp represents the 38th Senate District, which includes a portion of Fulton County. He may be reached by phone at (404) 656-0105 or by email at RaShaun.Kemp@senate.ga.gov.

    For all media inquiries, please reach out to SenatePressInquiries@senate.ga.gov.

    MIL OSI USA News –

  • MIL-OSI: Assembly Software Unveils NeosAI’s First-Year Milestones: From Groundbreaking Launch to Industry-Defining AI Platform

    Source: GlobeNewswire (MIL-OSI)

    CORAL GABLES, Fla., July 22, 2025 (GLOBE NEWSWIRE) — Assembly Software today celebrated a landmark year for NeosAI, showcasing the platform’s most transformative advancements since its June 2024 launch. The July 2025 release marks more than an upgrade; it’s a reimagining of what’s possible when artificial intelligence meets legal practice management.

    The Numbers Tell the Story: A Year of Unprecedented Growth

    • 20+ groundbreaking AI features delivered through continuous innovation cycles
    • Task execution has exploded by 10,000%, drastically increasing processing of legal documents and workflows
    • AI user adoption has skyrocketed 2,500%, with firms of all sizes embracing the platform
    • 75 hours (about 6 days) saved per week per firm – equivalent to hiring two additional full-time legal staff

    From Foundation to Future: The Evolution Timeline

    June 2024: NeosAI launched with a simple premise: eliminate repetitive legal work. Early adopters witnessed immediate impact through streamlined workflows and intelligent automation.

    December 2024: Based on intensive user feedback, Assembly delivered enhanced document processing capabilities and introduced the first generation of NeosAI Chat setting the stage for exponential growth.

    May 2025: Microsoft case study validates Assembly Software’s NeosAI, highlighting a 40% increase in case capacity and a 60% reduction in time-to-settlement, showcasing significant industry impact and third-party endorsement.

    July 2025: Today’s release represents the apex of legal AI evolution, introducing powerful new capabilities, including:

    • Large-Scale Document & Multi-Document Processing: Supporting documents up to approximately 4 million characters (1,500-2,000 pages), NeosAI now handles the most complex litigation files in single sessions – a 400% increase from launch capabilities.
    • Contextual Intelligence 2.0: Users can now leverage case data and multiple long-form documents as context for document generation, producing outputs with ease and accuracy
    • Adaptive Case Intelligence: The revolutionary Case Summary leverages data from user-selected information in Neos & Documents, producing a focused and relevant overview front and center of every case.
    • Hands Off Data Processing: Bulk medical record & invoice extraction capabilities have drastically reduced processing and data entry time.
    • Multi-Dimensional AI Chat: AI Chat’s ability to analyze multiple case documents and Neos data via smart conversation threads make it effortless to summarize, draft, and interrogate documents & case information.
    • Dynamic Form Evolution: Now available for all Neos users, NeosAI takes dynamic forms one step further with precise extraction capabilities.

    Client Success Stories: The Human Impact

    As Sheila Hiestand, McCoy & Hiestand puts it, NeosAI adoption is “about efficiencies. If you’re not evolving, you’re falling behind.”

    Nicole Zutz of Burnetti P.A. loves how NeosAI gives her “the ability to use AI to shorten the amount of time it takes to review a file and the ‘Analyze AI’ parts as well. It helps me with reviewing medical records.”

    Another happy NeosAI user is thrilled to share that “the AI-powered features have helped me manage documents and deadlines effortlessly, freeing up my time to focus on more critical legal research and case preparation.”

    These Neos customers are among the many who have harnessed the platform to significantly increase productivity while alleviating staff burnout. On average, firms save 25 hours per case through NeosAI’s advanced features, and with unlimited AI usage, they are only beginning to realize the full potential and value that AI brings to their operations.

    Looking Forward: The Next Chapter

    Assembly Software’s commitment to continuous innovation means NeosAI’s evolution is far from complete. The company has announced an aggressive roadmap for 2025-2026, including predictive case analytics, integration of advanced reasoning models and deployment of agentic AI for execution of complex tasks.

    About Assembly

    Assembly Software is a visionary technology company dedicated to revolutionizing the legal industry. It blends decades of history and industry experience with next-generation, customer-focused innovation, bringing together two of the legal profession’s pioneering case management brands, Needles and Trialworks, both of which have contributed to Neos, Assembly’s reimagined cloud-based solution. With its premier case management solution, Neos, and the game-changing NeosAI, Assembly Software empowers law firms to exceed expectations and maximize their potential through innovative software solutions.

    To learn more about NeosAI, visit:
    https://www.assemblysoftware.com/neos-ai

    Contacts

    Jessica Collier
    VP of Growth Marketing
    jessica@assemblysoftware.com
    305-357-6500

    The MIL Network –

  • MIL-OSI: RWS and Copyleaks Join Forces to Deliver Built-in AI and Plagiarism Detection for Tridion Users

    Source: GlobeNewswire (MIL-OSI)

    MAIDENHEAD, United Kingdom and BERKSHIRE, United Kingdom, July 22, 2025 (GLOBE NEWSWIRE) — Copyleaks, the AI content analysis and governance platform trusted by enterprises, educators, and governments worldwide, today announced a strategic partnership with RWS, the global leader in language, content, and intellectual property services. Through a new native integration with Tridion Docs, the RWS intelligent content management solution, Copyleaks’ award-winning AI-generated text and plagiarism detection capabilities now operate seamlessly within RWS content workflows, empowering organizations to publish with confidence and integrity at scale.

    As generative AI transforms content creation, organizations face an unprecedented challenge: ensuring the authenticity and originality of the content they publish. From technical documentation and marketing copy to regulatory content and training materials, businesses need to verify not just what they publish, but how it was created and whether it’s safe to use.

    Copyleaks’ comprehensive content integrity platform combines advanced AI detection with plagiarism prevention in one powerful solution. The platform identifies AI-generated text from leading models, including ChatGPT, Gemini, DeepSeek, and Claude, with an accuracy rate of over 99% and support for more than 30 languages. Its sophisticated detection capabilities extend beyond surface-level scans to catch advanced evasion tactics, including character substitution, paraphrasing, and blended human-AI writing.

    At the heart of this detection power is AI Logic, Copyleaks’ latest innovation that reveals the ‘why’ behind AI detection. Unlike traditional black-box approaches, AI Logic provides transparent insights through AI Phrases, which highlight linguistic patterns commonly found in AI-generated content, and AI Source Match, which determines whether text matches AI-generated content that has already been published elsewhere. This level of transparency enables content teams to make informed decisions with clarity and confidence, rather than relying on guesswork.

    Seamless Integration, Powerful Results

    Tridion already helps organizations manage complex, multilingual content at scale. With Copyleaks’ integration, content teams gain automatic analysis capabilities that scan text, code, and paraphrased material before publication. This creates a robust workflow where content authored in Tridion Docs is automatically analyzed by Copyleaks, ensuring every document meets organizational standards for originality and authenticity without disrupting publication cycles.

    Key Integration Benefits

    Automated Content Analysis: Content drafted or uploaded in Tridion Docs undergoes real-time Copyleaks scanning, with issues surfacing instantly to keep projects on schedule while maintaining quality standards.

    AI Governance and Policy Enforcement: Administrators can establish acceptable AI usage policies and receive detailed explanations for any flagged content through AI Logic’s transparent analysis, enabling responsible AI adoption across teams.

    Comprehensive Content Coverage: The integration supports text, code snippets, and multiple file formats, detecting everything from exact copying to sophisticated paraphrasing across diverse content types.

    Enterprise-Scale API Integration: Organizations can extend Copyleaks analysis to any Tridion workflow or third-party system through streamlined API connectivity.

    “Our customers need speed, but never at the expense of integrity,” said Alon Yamin, CEO and co-founder of Copyleaks. “By embedding our detection capabilities directly into Tridion, writers and reviewers can identify AI usage, plagiarism, or licensing risks the moment they occur – no additional steps and no file uploads; just clean, verifiable content that organizations can trust.”

    The Copyleaks connector for Tridion Docs is available immediately to joint customers worldwide. Organizations interested in adding advanced content analysis to their Tridion environment can contact their RWS account representative or request a demonstration at Copyleaks.com.

    About Copyleaks

    Copyleaks is a leading AI text analysis platform empowering businesses and educational institutions to navigate the evolving landscape of generative AI with confidence. With an award-winning suite of AI-powered tools trusted by millions globally, Copyleaks ensures AI governance, enables responsible AI adoption, safeguards intellectual property, and maintains academic integrity through comprehensive AI and plagiarism detection capabilities.

    For additional information, visit Copyleaks.com or follow the company on LinkedIn.

    About RWS

    RWS is a global content solutions company powered by a combination of advanced technology and human expertise. The company enhances the value of ideas, data, and content by helping organizations be understood everywhere.

    With proprietary technology, more than 45 AI patents, and a global team of specialists, RWS enables organizations to bring ideas to market faster, build deeper cross-cultural relationships, and expand into new markets with confidence. Its solutions drive business growth and open up a world of opportunities.

    More than 80 of the world’s top 100 brands rely on RWS to fuel innovation, inform strategic decisions, and shape impactful brand experiences.

    Operating from over 60 global locations across five continents, RWS supports clients across nearly every industry. Headquartered in the UK, the company has been innovating since 1958 and is publicly listed on AIM, the London Stock Exchange’s regulated market (RWS.L).

    For further information, please visit: rws.com.

    The MIL Network –

  • MIL-OSI: ASM reports second quarter 2025 results

    Source: GlobeNewswire (MIL-OSI)

    Almere, The Netherlands
    July 22, 2025, 6 p.m. CET
     
    Solid Q2 results against a backdrop of continued mixed market conditions

    ASM International N.V. (Euronext Amsterdam: ASM) today reports its Q2 2025 results (unaudited).

    Financial highlights

    € million Q2 2024 Q1 2025 Q2 2025
    New orders 755.4 834.2 702.5
    yoy change % at constant currencies 56% 14% (4%)
           
    Revenue 706.1 839.2 835.6
    yoy change % as reported 6% 31% 18%
    yoy change % at constant currencies 6% 26% 23%
           
    Gross profit 352.0 447.8 433.2
    Gross profit margin % 49.8  % 53.4  % 51.8  %
           
    Operating result 177.6 266.2 258.5
    Operating result margin % 25.1  % 31.7 % 30.9  %
           
    Adjusted operating result 1 182.3 271.0 263.2
    Adjusted operating result margin %1 25.8  % 32.3 % 31.5  %
           
    Net earnings (losses) 159.0 (28.9) 202.4
    Adjusted net earnings 1 164.7 191.9 173.0

    1 Adjusted figures are non-IFRS performance measures. Refer to Annex 3 for a reconciliation of non-IFRS performance measures.

    • New orders of €702 million in Q2 2025 decreased by 4% over the same period last year at constant currency (decreased by 7% as reported). Compared to Q1 2025, orders decreased by 10% at constant currency. This sequential decrease is explained by lower advanced logic/foundry orders due to timing of orders. The y-o-y decrease was mainly due to the lumpy nature of quarterly order intake and compared to a relatively high memory contribution in Q2 2024.
    • Revenue of €836 million increased by 23% at constant currencies (increased by 18% as reported) from Q2 last year. At constant currencies, revenue increased by 7% compared to Q1 2025, which was above our guidance range of +1% to +6% at constant currencies. Revenue in Q2 2025 was driven by foundry, followed by memory, and logic.
    • Gross profit margin of 51.8% in Q2 2025 improved compared to 49.8% in Q2 last year, while it decreased, as expected, compared to 53.4% in Q1 2025. Q2 2025 margin remained healthy thanks to mix, including continued strong sales to China.
    • Adjusted operating result margin of 31.5% increased by 5.7% points compared to the same period last year and slightly decreased by 0.8% points compared to previous quarter. The y-o-y improvement is mainly due to higher gross profit margin this quarter, and a one-off tax charge which resulted in a higher SG&A cost last year.
    • Reported net earnings included a reversal of impairment of €34 million from our stake in ASMPT (Q1 included a €215 million impairment), triggered by the increase in market valuation in the recent period. There is no cash impact. Following the impairment, and in line with our accounting policy, the changes in the market value of ASMPT will be included in our quarterly net results in case of further decline or until the impairment charge has been reversed.

    Comment

    “ASM continued to deliver solid quarterly results against a backdrop of mixed market conditions. Sales increased by 23% year-on-year at constant currencies to €836 million,” said Hichem M’Saad, CEO of ASM. “Compared to the first quarter of 2025 revenue increased by +7%, which was above the top end of our guidance. The y-o-y increase was led by the logic/foundry segment as well as continued momentum in our spares & services business.

    The market environment continued to show a mixed picture in the second quarter. Growth in AI is fueling ongoing capacity expansions in the leading-edge logic/foundry and HBM-related DRAM segments, while conditions in most of the other market segments are still slow.

    Bookings amounted to €702 million in Q2 2025, down 10% compared to Q1 at constant currencies, mainly due to lower advanced logic/foundry bookings. However, the underlying trend in this segment, particularly in gate-all-around (GAA), remains healthy and we expect related leading-edge logic/foundry bookings to pick up again in Q3.

    The gross margin, while down from a high level of 53.4%, remained strong at 51.8%, again driven by product and customer mix, improved operational efficiency and a better-than-expected contribution from China sales. For the full year 2025, we still expect the gross margin to be in the upper half of the target range of 46%-50%. This excludes any potential direct impact from tariffs, which at this point remains difficult to predict. We have various scenarios in place to mitigate potential financial impacts.

    Operating profit increased strongly in Q2, by approximately 40% adjusted for a one-off expense last year, on the back of increased sales, gross margin improvement and continued cost control, whilst continuing to invest in R&D.

    We are well positioned to at least maintain our ALD and epi market share from the first to the second GAA logic/foundry nodes and remain focused on further share gains in memory, as ALD and epi intensity grows in upcoming DRAM nodes.”

    Outlook

    We expect revenue in the second half of 2025 to be approximately similar to the level in the first half, at constant currencies. For Q3 2025, we expect total ASM revenue to be flat to slightly lower, in a range of 0% to -5% at constant currencies compared to Q2 2025. As a reminder, with the Q1 2025 results we changed our quarterly revenue guidance from absolute Euro amounts to growth rates at constant currencies, given the increased exchange rate volatility in the recent periods and ASM’s significant USD revenue exposure (>80% of sales).
    For Q3 2025, we expect advanced logic/foundry bookings to be higher than in Q2 2025 and China bookings to be lower, with the overall book-to-bill in Q3 projected to be below 1.

    Based on comparable sales in the second half versus the first half, we expect revenue growth at constant currencies in 2025 to be around the midpoint of the guidance range of +10% to +20%. We continue to expect to outperform the WFE market, which is forecasted to grow slightly this year. Uncertainties related to tariffs, geopolitical tensions and the overall economic outlook continue to be relatively high.
    The key growth driver for ASM this year is the high-volume manufacturing ramp of the 2nm GAA node. Despite some further shifts in capex forecasts among customers in this segment, our view for a strong increase in advanced logic/foundry sales in 2025 has not changed. Demand in advanced HBM-related DRAM applications remains solid, but conditions in the other parts of the memory market are sluggish. Against a very strong level last year, we still expect the memory contribution to drop this year (to less than 20% of equipment sales in 2025 versus 25% in 2024).

    In the power/analog/wafer segment equipment demand remains depressed with no meaningful sales recovery in the remainder of the year, despite some early signs of improvement in the related end markets.
    Demand in the Chinese market held up better than initially expected in the first half. We now expect China equipment sales in 2025 to be around the top end of the previously guided range of low to high 20s percentage of total ASM revenue. China sales and bookings in the second half are projected to be lower than in the first half.

    Share buyback program

    The €150 million share buyback program, announced in February 2025, started on April 30, 2025. On June 30, 2025, 40% of the program was completed at an average share price of €486.48 under ASM’s share buyback program (of which 28.6% has been delivered and settled in cash within the reporting period, and the remainder on July 1, 2025).

    Investor Day

    We will host our 2025 Investor Day on September 23. Speakers will include our CEO, CFO and other members of ASM’s senior management team. Further details will be announced later.

    Interim financial report

    ASM International N.V. (Euronext Amsterdam: ASM) today also publishes its Interim Financial Report for the six-month period ended June 30, 2025.

    This report includes an Interim Management Board Report, including ESG update, and condensed consolidated interim financial statements prepared in accordance with IAS 34 (Interim Financial Reporting). The Interim Financial Report comprises regulated information within the meaning of the Dutch Financial Markets Supervision Act (“Wet op het Financieel Toezicht”) and is available in full on our website www.asm.com.

    About ASM

    ASM International N.V., headquartered in Almere, the Netherlands, and its subsidiaries design and manufacture equipment and process solutions to produce semiconductor devices for wafer processing, and have facilities in the United States, Europe, and Asia. ASM International’s common stock trades on the Euronext Amsterdam Stock Exchange (symbol: ASM). For more information, visit ASM’s website at www.asm.com.

    Cautionary Note Regarding Forward-Looking Statements: All matters discussed in this press release, except for any historical data, are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include, but are not limited to, economic conditions and trends in the semiconductor industry generally and the timing of the industry cycles specifically, currency fluctuations, corporate transactions, financing and liquidity matters, the success of restructurings, the timing of significant orders, market acceptance of new products, competitive factors, litigation involving intellectual property, shareholders or other issues, commercial and economic disruption due to natural disasters, terrorist activity, armed conflict or political instability, changes in import/export regulations, pandemics, epidemics and other risks indicated in the company’s reports and financial statements. The company assumes no obligation nor intends to update or revise any forward-looking statements to reflect future developments or circumstances.

    This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Quarterly earnings conference call details

    ASM will host the quarterly earnings conference call and webcast on Wednesday, July 23, 2025, at 3:00 p.m. CET.

    Conference-call participants should pre-register using this link to receive the dial-in numbers, passcode and a personal PIN, which are required to access the conference call.

    A simultaneous audio webcast and replay will be accessible at this link.

    Contacts  
    Investor and media relations Investor relations
    Victor Bareño Valentina Fantigrossi
    T: +31 88 100 8500 T: +31 88 100 8502
    E: investor.relations@asm.com E: investor.relations@asm.com

    The MIL Network –

  • MIL-OSI: ASM reports second quarter 2025 results

    Source: GlobeNewswire (MIL-OSI)

    Almere, The Netherlands
    July 22, 2025, 6 p.m. CET
     
    Solid Q2 results against a backdrop of continued mixed market conditions

    ASM International N.V. (Euronext Amsterdam: ASM) today reports its Q2 2025 results (unaudited).

    Financial highlights

    € million Q2 2024 Q1 2025 Q2 2025
    New orders 755.4 834.2 702.5
    yoy change % at constant currencies 56% 14% (4%)
           
    Revenue 706.1 839.2 835.6
    yoy change % as reported 6% 31% 18%
    yoy change % at constant currencies 6% 26% 23%
           
    Gross profit 352.0 447.8 433.2
    Gross profit margin % 49.8  % 53.4  % 51.8  %
           
    Operating result 177.6 266.2 258.5
    Operating result margin % 25.1  % 31.7 % 30.9  %
           
    Adjusted operating result 1 182.3 271.0 263.2
    Adjusted operating result margin %1 25.8  % 32.3 % 31.5  %
           
    Net earnings (losses) 159.0 (28.9) 202.4
    Adjusted net earnings 1 164.7 191.9 173.0

    1 Adjusted figures are non-IFRS performance measures. Refer to Annex 3 for a reconciliation of non-IFRS performance measures.

    • New orders of €702 million in Q2 2025 decreased by 4% over the same period last year at constant currency (decreased by 7% as reported). Compared to Q1 2025, orders decreased by 10% at constant currency. This sequential decrease is explained by lower advanced logic/foundry orders due to timing of orders. The y-o-y decrease was mainly due to the lumpy nature of quarterly order intake and compared to a relatively high memory contribution in Q2 2024.
    • Revenue of €836 million increased by 23% at constant currencies (increased by 18% as reported) from Q2 last year. At constant currencies, revenue increased by 7% compared to Q1 2025, which was above our guidance range of +1% to +6% at constant currencies. Revenue in Q2 2025 was driven by foundry, followed by memory, and logic.
    • Gross profit margin of 51.8% in Q2 2025 improved compared to 49.8% in Q2 last year, while it decreased, as expected, compared to 53.4% in Q1 2025. Q2 2025 margin remained healthy thanks to mix, including continued strong sales to China.
    • Adjusted operating result margin of 31.5% increased by 5.7% points compared to the same period last year and slightly decreased by 0.8% points compared to previous quarter. The y-o-y improvement is mainly due to higher gross profit margin this quarter, and a one-off tax charge which resulted in a higher SG&A cost last year.
    • Reported net earnings included a reversal of impairment of €34 million from our stake in ASMPT (Q1 included a €215 million impairment), triggered by the increase in market valuation in the recent period. There is no cash impact. Following the impairment, and in line with our accounting policy, the changes in the market value of ASMPT will be included in our quarterly net results in case of further decline or until the impairment charge has been reversed.

    Comment

    “ASM continued to deliver solid quarterly results against a backdrop of mixed market conditions. Sales increased by 23% year-on-year at constant currencies to €836 million,” said Hichem M’Saad, CEO of ASM. “Compared to the first quarter of 2025 revenue increased by +7%, which was above the top end of our guidance. The y-o-y increase was led by the logic/foundry segment as well as continued momentum in our spares & services business.

    The market environment continued to show a mixed picture in the second quarter. Growth in AI is fueling ongoing capacity expansions in the leading-edge logic/foundry and HBM-related DRAM segments, while conditions in most of the other market segments are still slow.

    Bookings amounted to €702 million in Q2 2025, down 10% compared to Q1 at constant currencies, mainly due to lower advanced logic/foundry bookings. However, the underlying trend in this segment, particularly in gate-all-around (GAA), remains healthy and we expect related leading-edge logic/foundry bookings to pick up again in Q3.

    The gross margin, while down from a high level of 53.4%, remained strong at 51.8%, again driven by product and customer mix, improved operational efficiency and a better-than-expected contribution from China sales. For the full year 2025, we still expect the gross margin to be in the upper half of the target range of 46%-50%. This excludes any potential direct impact from tariffs, which at this point remains difficult to predict. We have various scenarios in place to mitigate potential financial impacts.

    Operating profit increased strongly in Q2, by approximately 40% adjusted for a one-off expense last year, on the back of increased sales, gross margin improvement and continued cost control, whilst continuing to invest in R&D.

    We are well positioned to at least maintain our ALD and epi market share from the first to the second GAA logic/foundry nodes and remain focused on further share gains in memory, as ALD and epi intensity grows in upcoming DRAM nodes.”

    Outlook

    We expect revenue in the second half of 2025 to be approximately similar to the level in the first half, at constant currencies. For Q3 2025, we expect total ASM revenue to be flat to slightly lower, in a range of 0% to -5% at constant currencies compared to Q2 2025. As a reminder, with the Q1 2025 results we changed our quarterly revenue guidance from absolute Euro amounts to growth rates at constant currencies, given the increased exchange rate volatility in the recent periods and ASM’s significant USD revenue exposure (>80% of sales).
    For Q3 2025, we expect advanced logic/foundry bookings to be higher than in Q2 2025 and China bookings to be lower, with the overall book-to-bill in Q3 projected to be below 1.

    Based on comparable sales in the second half versus the first half, we expect revenue growth at constant currencies in 2025 to be around the midpoint of the guidance range of +10% to +20%. We continue to expect to outperform the WFE market, which is forecasted to grow slightly this year. Uncertainties related to tariffs, geopolitical tensions and the overall economic outlook continue to be relatively high.
    The key growth driver for ASM this year is the high-volume manufacturing ramp of the 2nm GAA node. Despite some further shifts in capex forecasts among customers in this segment, our view for a strong increase in advanced logic/foundry sales in 2025 has not changed. Demand in advanced HBM-related DRAM applications remains solid, but conditions in the other parts of the memory market are sluggish. Against a very strong level last year, we still expect the memory contribution to drop this year (to less than 20% of equipment sales in 2025 versus 25% in 2024).

    In the power/analog/wafer segment equipment demand remains depressed with no meaningful sales recovery in the remainder of the year, despite some early signs of improvement in the related end markets.
    Demand in the Chinese market held up better than initially expected in the first half. We now expect China equipment sales in 2025 to be around the top end of the previously guided range of low to high 20s percentage of total ASM revenue. China sales and bookings in the second half are projected to be lower than in the first half.

    Share buyback program

    The €150 million share buyback program, announced in February 2025, started on April 30, 2025. On June 30, 2025, 40% of the program was completed at an average share price of €486.48 under ASM’s share buyback program (of which 28.6% has been delivered and settled in cash within the reporting period, and the remainder on July 1, 2025).

    Investor Day

    We will host our 2025 Investor Day on September 23. Speakers will include our CEO, CFO and other members of ASM’s senior management team. Further details will be announced later.

    Interim financial report

    ASM International N.V. (Euronext Amsterdam: ASM) today also publishes its Interim Financial Report for the six-month period ended June 30, 2025.

    This report includes an Interim Management Board Report, including ESG update, and condensed consolidated interim financial statements prepared in accordance with IAS 34 (Interim Financial Reporting). The Interim Financial Report comprises regulated information within the meaning of the Dutch Financial Markets Supervision Act (“Wet op het Financieel Toezicht”) and is available in full on our website www.asm.com.

    About ASM

    ASM International N.V., headquartered in Almere, the Netherlands, and its subsidiaries design and manufacture equipment and process solutions to produce semiconductor devices for wafer processing, and have facilities in the United States, Europe, and Asia. ASM International’s common stock trades on the Euronext Amsterdam Stock Exchange (symbol: ASM). For more information, visit ASM’s website at www.asm.com.

    Cautionary Note Regarding Forward-Looking Statements: All matters discussed in this press release, except for any historical data, are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include, but are not limited to, economic conditions and trends in the semiconductor industry generally and the timing of the industry cycles specifically, currency fluctuations, corporate transactions, financing and liquidity matters, the success of restructurings, the timing of significant orders, market acceptance of new products, competitive factors, litigation involving intellectual property, shareholders or other issues, commercial and economic disruption due to natural disasters, terrorist activity, armed conflict or political instability, changes in import/export regulations, pandemics, epidemics and other risks indicated in the company’s reports and financial statements. The company assumes no obligation nor intends to update or revise any forward-looking statements to reflect future developments or circumstances.

    This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Quarterly earnings conference call details

    ASM will host the quarterly earnings conference call and webcast on Wednesday, July 23, 2025, at 3:00 p.m. CET.

    Conference-call participants should pre-register using this link to receive the dial-in numbers, passcode and a personal PIN, which are required to access the conference call.

    A simultaneous audio webcast and replay will be accessible at this link.

    Contacts  
    Investor and media relations Investor relations
    Victor Bareño Valentina Fantigrossi
    T: +31 88 100 8500 T: +31 88 100 8502
    E: investor.relations@asm.com E: investor.relations@asm.com

    The MIL Network –

  • MIL-OSI: Titan.ium Platform Launches Cloud Native Number Portability Software to Help Telecoms Advance Operational Agility and Network Readiness

    Source: GlobeNewswire (MIL-OSI)

    LOWELL, Mass., July 22, 2025 (GLOBE NEWSWIRE) — Titan.ium Platform today announced its cloud native Number Portability (NP) product for telecom operators and system integrators that helps modernize existing infrastructure and aligns with next-generation technologies like 5G, edge computing, and artificial intelligence (AI).

    Built cloud native and not a repackaging of legacy code, NP is microservices-based and orchestrated with Kubernetes to provide rapid deployment, elastic scalability, and automation that supports multi-generation networks – from 2G to 5G, as well as fixed-line and IP-based services. The NP software serves as a central gateway providing portability data from a local data source or from an external data source. Access to the portability data is provided over multiple signaling protocols.

    According to the Deloitte 2025 Telecommunications Industry Outlook, telecom providers are working to update essential systems to better support customer needs and expand their digital capabilities.

    “Number Portability is not a new problem to solve and so, finding a solution must be part of greater vision,” said Mahesh Seshan, senior director of engineering, Titan.ium Platform. “This greater vision can be made possible with the Titan.ium cloud native NP product. It combines the power of a cloud native platform and a micro-services based application enabling a modern, multi-generational approach.”

    The new NP software supports Titan.ium’s broader efforts to streamline telecom infrastructure using flexible, software-based systems and provides a smooth evolution for the transition from virtualized to cloud native technologies. It serves as a modern alternative to traditional portability databases and routing systems.

    Key benefits include:

    • Faster time to market through integrated microservices and orchestration with Kubernetes;
    • High availability and real-time performance to handle rising porting volumes and signaling traffic demands;
    • Reduced operating expenses (OPEX) with lifecycle automation and simplified infrastructure;
    • ENUM interface and local data source integration for compatibility with evolving network functions;
    • Smooth migration path from existing Virtual Network Function (VNF)-based NP solutions.

    The cloud native NP software complements Titan.ium’s existing VNF-based NP solution and supports a wide range of deployment models to fit the modernization roadmaps of Tier 1 and Tier 2 operators.

    As operators continue to navigate the complexity of hybrid and next-generation networks, the ability to streamline porting operations without compromising service delivery is critical. Titan.ium’s cloud native NP platform is engineered to support this shift, offering a flexible, future-ready approach to one of telecom’s most essential functions.

    About Titan.ium Platform
    Titan.ium Platform is a leader in signaling, routing, subscriber data management, and security software and services. Our solutions, which are deployed in more than 80 countries by over 180 companies, including eight of the world’s top 10 communications service providers, and all of the top five, are a testament to our industry leadership. Titan.ium supports any network, domain, signaling protocol, and infrastructure with advanced routing capabilities and a unified end-user experience. For more information, please visit https://titaniumplatform.com.

    Media Contact
    Glenn Rossman
    glenn@eckertcomms.com
    914-623-8354

    The MIL Network –

  • MIL-OSI: Inside Information: Nokia lowers 2025 operating profit guidance due to currency  

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Inside information
    22 July 2025 at 19:00 EEST

    Inside Information: Nokia lowers 2025 operating profit guidance due to currency
      

    • Nokia lowers its comparable operating profit guidance range to EUR 1.6 billion to EUR 2.1 billion from EUR 1.9 billion to EUR 2.4 billion.  
    • Adjustment relates to currency headwinds from the weaker USD and tariffs. 
    • Reports preliminary Q2 financial results of approximately EUR 4.55 billion net sales and EUR 0.3 billion comparable operating profit.  


    Espoo, Finland – Nokia is today providing an update to its financial guidance for full year 2025. Nokia’s underlying business performed as expected through the first half, however, considering currency and tariff headwinds which are outside its control and have transpired since its Q1 results, the company feels it is prudent at this point to lower its operating profit outlook range. Nokia is lowering its comparable operating profit outlook range to EUR 1.6 billion to EUR 2.1 billion (previously EUR 1.9 billion to EUR 2.4 billion). Nokia’s guidance for free cash flow conversion from comparable operating profit remains 50% to 80%. Nokia’s guidance is now based on a EUR:USD rate of 1.17, while the currency rate used in January was 1.04.

    Since Nokia provided guidance in January for the full year 2025, two headwinds outside its control are impacting the 2025 outlook. The largest headwind is currency fluctuations (particularly the weaker USD), an approximately EUR 230 million negative impact (EUR 140 million operationally and EUR 90 million from non-cash venture fund currency revaluations). Also, the current tariff landscape is expected to impact full year operating profit by EUR 50 million to EUR 80 million.  

    Update to Nokia’s financial outlook for 2025 

      Updated  Previous (Issued 30 Jan) 
    Comparable Operating Profit1  EUR 1.6 billion to EUR 2.1 billion  EUR 1.9 billion to EUR 2.4 billion 
    Free cash flow conversion from comparable operating profit  50% to 80%  50% to 80% 

    1 Outlook is based on a EUR:USD rate of 1.17 for the remainder of the year.

    In the second quarter, based on its preliminary financials, Nokia expects to report net sales of approximately EUR 4.55 billion and comparable operating profit of EUR 300 million. The Q2 comparable operating profit includes a negative impact from its venture funds of EUR 50 million primarily related to currency.  

    Nokia will release its second quarter and half year 2025 financial results on Thursday 24th July 2025.  

    Nokia will conduct a conference call with analysts and investors to discuss its second quarter performance and business outlook on 24 July 2025 at 11:30am EEST / 09:30am BST / 04:30am US EST.  

    About Nokia

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

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

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

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia
    Investor Relations
    Phone: +358 931 580 507 
    Email: investor.relations@nokia.com

    FORWARD-LOOKING STATEMENTS 

    Certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements reflect Nokia’s current expectations and views of future developments and include statements regarding: A) expectations, plans, benefits or outlook related to our strategies, projects, programs, product launches, growth management, licenses, sustainability and other ESG targets, operational key performance indicators and decisions on market exits; B) expectations, plans or benefits related to future performance of our businesses (including the expected impact, timing and duration of potential global pandemics, geopolitical conflicts and the general or regional macroeconomic conditions on our businesses, our supply chain, the timing of market changes or turning points in demand and our customers’ businesses) and any future dividends and other distributions of profit; C) expectations and targets regarding financial performance and results of operations, including market share, prices, net sales, income, margins, cash flows, cost savings, the timing of receivables, operating expenses, provisions, impairments, tariffs, taxes, currency exchange rates, hedging, investment funds, inflation, product cost reductions, competitiveness, value creation, revenue generation in any specific region, and licensing income and payments; D) ability to execute, expectations, plans or benefits related to transactions, investments and changes in organizational structure and operating model; E) impact on revenue with respect to litigation/renewal discussions; and F) any statements preceded by or including “anticipate”, “continue”, “believe”, “envisage”, “expect”, “aim”, “will”, “target”, “may”, “would”, “could“, “see”, “plan”, “ensure” or similar expressions. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from such statements. These statements are based on management’s best assumptions and beliefs in light of the information currently available to them. These forward-looking statements are only predictions based upon our current expectations and views of future events and developments and are subject to risks and uncertainties that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Factors, including risks and uncertainties that could cause these differences, include those risks and uncertainties identified in our 2024 annual report on Form 20-F published on 13 March 2025 under Operating and financial review and prospects-Risk factors.

    The MIL Network –

  • MIL-OSI: Inside Information: Nokia lowers 2025 operating profit guidance due to currency  

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Inside information
    22 July 2025 at 19:00 EEST

    Inside Information: Nokia lowers 2025 operating profit guidance due to currency
      

    • Nokia lowers its comparable operating profit guidance range to EUR 1.6 billion to EUR 2.1 billion from EUR 1.9 billion to EUR 2.4 billion.  
    • Adjustment relates to currency headwinds from the weaker USD and tariffs. 
    • Reports preliminary Q2 financial results of approximately EUR 4.55 billion net sales and EUR 0.3 billion comparable operating profit.  


    Espoo, Finland – Nokia is today providing an update to its financial guidance for full year 2025. Nokia’s underlying business performed as expected through the first half, however, considering currency and tariff headwinds which are outside its control and have transpired since its Q1 results, the company feels it is prudent at this point to lower its operating profit outlook range. Nokia is lowering its comparable operating profit outlook range to EUR 1.6 billion to EUR 2.1 billion (previously EUR 1.9 billion to EUR 2.4 billion). Nokia’s guidance for free cash flow conversion from comparable operating profit remains 50% to 80%. Nokia’s guidance is now based on a EUR:USD rate of 1.17, while the currency rate used in January was 1.04.

    Since Nokia provided guidance in January for the full year 2025, two headwinds outside its control are impacting the 2025 outlook. The largest headwind is currency fluctuations (particularly the weaker USD), an approximately EUR 230 million negative impact (EUR 140 million operationally and EUR 90 million from non-cash venture fund currency revaluations). Also, the current tariff landscape is expected to impact full year operating profit by EUR 50 million to EUR 80 million.  

    Update to Nokia’s financial outlook for 2025 

      Updated  Previous (Issued 30 Jan) 
    Comparable Operating Profit1  EUR 1.6 billion to EUR 2.1 billion  EUR 1.9 billion to EUR 2.4 billion 
    Free cash flow conversion from comparable operating profit  50% to 80%  50% to 80% 

    1 Outlook is based on a EUR:USD rate of 1.17 for the remainder of the year.

    In the second quarter, based on its preliminary financials, Nokia expects to report net sales of approximately EUR 4.55 billion and comparable operating profit of EUR 300 million. The Q2 comparable operating profit includes a negative impact from its venture funds of EUR 50 million primarily related to currency.  

    Nokia will release its second quarter and half year 2025 financial results on Thursday 24th July 2025.  

    Nokia will conduct a conference call with analysts and investors to discuss its second quarter performance and business outlook on 24 July 2025 at 11:30am EEST / 09:30am BST / 04:30am US EST.  

    About Nokia

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

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

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

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia
    Investor Relations
    Phone: +358 931 580 507 
    Email: investor.relations@nokia.com

    FORWARD-LOOKING STATEMENTS 

    Certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements reflect Nokia’s current expectations and views of future developments and include statements regarding: A) expectations, plans, benefits or outlook related to our strategies, projects, programs, product launches, growth management, licenses, sustainability and other ESG targets, operational key performance indicators and decisions on market exits; B) expectations, plans or benefits related to future performance of our businesses (including the expected impact, timing and duration of potential global pandemics, geopolitical conflicts and the general or regional macroeconomic conditions on our businesses, our supply chain, the timing of market changes or turning points in demand and our customers’ businesses) and any future dividends and other distributions of profit; C) expectations and targets regarding financial performance and results of operations, including market share, prices, net sales, income, margins, cash flows, cost savings, the timing of receivables, operating expenses, provisions, impairments, tariffs, taxes, currency exchange rates, hedging, investment funds, inflation, product cost reductions, competitiveness, value creation, revenue generation in any specific region, and licensing income and payments; D) ability to execute, expectations, plans or benefits related to transactions, investments and changes in organizational structure and operating model; E) impact on revenue with respect to litigation/renewal discussions; and F) any statements preceded by or including “anticipate”, “continue”, “believe”, “envisage”, “expect”, “aim”, “will”, “target”, “may”, “would”, “could“, “see”, “plan”, “ensure” or similar expressions. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from such statements. These statements are based on management’s best assumptions and beliefs in light of the information currently available to them. These forward-looking statements are only predictions based upon our current expectations and views of future events and developments and are subject to risks and uncertainties that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Factors, including risks and uncertainties that could cause these differences, include those risks and uncertainties identified in our 2024 annual report on Form 20-F published on 13 March 2025 under Operating and financial review and prospects-Risk factors.

    The MIL Network –

  • MIL-OSI United Kingdom: Oxford landlord found guilty of failing to comply with HMO licence conditions

    Source: City of Oxford

    Tuesday, 22 July 2025

    An Oxford landlord has been fined £5,500 after being found guilty of failing to comply with HMO licence conditions at a home in Headington.

    Aslam Javid Dogar, (61), of Lime Walk in Oxford, was found guilty of nine counts of failing to comply with the conditions of the HMO licence for 182 Headington Road.  

    The failure to comply with licence conditions included: 

    • an inadequate fire alarm system  
    • fire doors that had not been maintained in good order and repair 
    • a lack of guarding on the staircase and landing between the first and second floors 
    • no mechanical ventilation fitted in either kitchen or bathroom  
    • the property being generally in a poor state of repair 

    Alongside the £5,500 fine, Dogar was ordered to pay costs of £3,678 and a victim surcharge of £2,000 at Oxford Magistrates’ Court on 8 July 2025. 

    , 

    “Some landlords are taking advantage of the city’s housing shortage to rent out badly maintained properties to multiple occupants.  

    The HMO licensing scheme was introduced to raise standards in the city’s private rental sector and make sure all rented homes are safe for tenants to live in.  

    The message to landlords is clear, if you don’t meet your legal obligations to your tenants and keep your properties up to the required standard then the city council will prosecute you.  

    I am pleased by the substantial fine charged in this particular case as it serves as a deterrent to other landlords, and serves notice that HMO standards will be upheld.” 

    – Councillor Linda Smith, Cabinet Member for Housing

    If you suspect a property may be an unlicensed HMO or know of an HMO which is unsafe, in poor repair or you have concerns about its management, you can report it anonymously for investigation on the Council’s website.  

    For more information contact: 

    Oxford City Council 

    Press Office 

    01865 252096 

    pressoffice@oxford.gov.uk 
     

    MIL OSI United Kingdom –

  • MIL-OSI Russia: US announces withdrawal from UNESCO again

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    WASHINGTON, July 22 (Xinhua) — The United States on Tuesday announced its decision to withdraw from the United Nations Educational, Scientific and Cultural Organization (UNESCO), two years after rejoining it.

    According to a statement from the US State Department, the decision was made in connection with UNESCO’s policy, which Washington believes “promotes divisive social and cultural initiatives” against the backdrop of the Israeli-Palestinian conflict.

    “UNESCO’s decision to admit the ‘State of Palestine’ as a member state is highly problematic, runs counter to US policy and contributes to the spread of anti-Israeli rhetoric within the organization,” the statement said.

    The US withdrawal from UNESCO will take effect at the end of December 2026.

    This is the third time the United States has withdrawn from the organization, and the second time during the Donald Trump administration. Since the start of Trump’s second term this year, his administration has already announced withdrawals from the Paris Climate Agreement, the World Health Organization, and the UN Human Rights Council. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: China issues regulations on rural highways

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 22 (Xinhua) — Chinese State Council Premier Li Qiang signed a State Council order on issuing regulations to promote high-quality development of rural highways and ensure that they meet the needs of comprehensive rural revitalization and accelerated agricultural and rural modernization.

    The regulations on rural highways, which will take effect on September 15, stipulate that the development of rural highways should be in line with China’s coordinated efforts to promote new-type urbanization and all-round rural revitalization.

    The document notes the need to adhere to the principle of equal attention to construction, management, maintenance and operation, gradually improving a comprehensive, accessible, safe, practical, convenient and efficient rural transport infrastructure network.

    It is stated that the quality of rural highway networks should be improved and their connections with national and provincial highways should be ensured to promote the integration of urban and rural transportation. Existing rural highways that do not meet the minimum technical requirements should be upgraded.

    The document provides for strengthening the management and maintenance of rural roads through a clear division of responsibilities, and also requires regular inspections and the identification of hidden safety threats.

    As emphasized in the regulations, local governments at all levels should promote the integrated construction of rural roads and related infrastructure facilities, industrial parks and tourist attractions located along them, which will promote the comprehensive development of rural passenger transportation, freight logistics, postal services and express delivery, and enhance the ability of rural roads to serve economic circulation between urban and rural areas. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Uzbekistan’s Economy Grew by 7.2% in First Half of Year

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    Tashkent, July 22 (Xinhua) — Uzbekistan’s economy grew by 7.2 percent year-on-year in the first half of this year, local media reported on Tuesday, citing the National Statistics Committee of the Republic of Uzbekistan.

    According to preliminary data, the gross domestic product (GDP) of Uzbekistan for January-June 2025 increased by 7.2 percent compared to the same period in 2024.

    It is noted that the country’s foreign trade turnover increased by 16.1 percent in the first six months of 2025.

    In June, the press service of the President of Uzbekistan reported, citing the head of state Shavkat Mirziyoyev, that over the past 8 years, the country’s GDP has doubled and the goal has been set to bring it to 200 billion US dollars by 2030. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI USA: H.R. 589, FACE Act Repeal Act

    Source: US Congressional Budget Office

    H.R. 589 would repeal a section of federal law that prohibits actions that interfere with a person’s ability to access or provide reproductive health services or to engage in religious worship. Under the bill, individuals and states attorneys general would no longer be able to file civil lawsuits in federal court for violations of the law and the government could not impose civil or criminal penalties related to those actions.

    As a result, CBO expects that enacting H.R. 589 would reduce revenues and direct spending. Criminal and civil fines are recorded in the budget as revenues. Criminal fines are deposited in the Crime Victims Fund and later spent without further appropriation. Generally, civil fines are returned to the Treasury and are not available for spending without further appropriation. CBO estimates that any reduction in the collection of civil and criminal penalties would be insignificant.

    Additionally, CBO estimates that enacting H.R. 589 would reduce the number of civil cases filed in federal court. Under current law, the federal judiciary charges fees to file suits in district courts. Those fees are recorded in the budget as revenues and the courts can spend those fees without further appropriation. CBO estimates that any reduction in the collections of those fees would be insignificant. In total, CBO estimates that enacting H.R. 589 would reduce revenues and the associated direct spending by less than $500,000 in every year and over the 2025-2035 period.

    H.R. 589 would impose an intergovernmental and private-sector mandate as defined in the Unfunded Mandates Reform Act (UMRA) by removing the ability of individuals and state attorneys general to pursue civil remedies for conduct that interfered with the receipt or provision of reproductive health services or participation in religious activities.

    The cost of this mandate would be the lost financial awards from successful litigation. CBO cannot anticipate the number of cases that would be prohibited under this bill, the outcome of such cases, or the financial awards from successful litigation. Therefore, CBO cannot determine whether the cost of the mandate would exceed the UMRA intergovernmental and private-sector thresholds ($103 million and $206 million respectfully, in 2025, adjusted annually for inflation).

    The CBO staff contacts for this estimate are Jeremy Crimm (for federal costs) and Erich Dvorak (for mandates). The estimate was reviewed by H. Samuel Papenfuss, Deputy Director of Budget Analysis.

    Phillip L. Swagel

    Director, Congressional Budget Office

    MIL OSI USA News –

  • MIL-OSI USA: S. 1595, Improving Police CARE Act

    Source: US Congressional Budget Office

    S. 1595 would require the Department of Justice (DOJ) to develop and publish standards for trauma kits and the best practices for law enforcement agencies on the maintenance and use of those kits. The bill would require DOJ to consult with the private sector and state and local law enforcement agencies in developing the standards. S. 1595 also would prohibit grantees under the Edward Byrne Memorial Justice Assistance Grant program from using grant funds to purchase trauma kits that do not meet DOJ’s standards. Under that program, DOJ awards grants to state, local, territorial, and tribal governments to support a variety of criminal justice and law enforcement activities, including the purchase of trauma kits.

    Based on the costs of similar activities, CBO estimates that implementing S. 1595 would cost DOJ less than $500,000 to develop and publish the standards and best practices. Any related spending would be subject to the availability of appropriated funds.

    The CBO staff contact for this estimate is Jeremy Crimm. The estimate was reviewed by H. Samuel Papenfuss, Deputy Director of Budget Analysis.

    Phillip L. Swagel

    Director, Congressional Budget Office

    MIL OSI USA News –

  • MIL-OSI USA: H.R. 60, Knife Owners’ Protection Act

    Source: US Congressional Budget Office

    H.R. 60 would allow people to transport a knife between state and local jurisdictions where it is legal to possess and carry such a knife under certain conditions. That authority would not allow people who are otherwise prohibited from possessing, transporting, shipping or receiving knives under federal law. CBO estimates that enacting the bill would have no effect on federal spending because it would not change any federal laws related to possessing or transporting knives.

    H.R. 60 would impose intergovernmental and private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA). The bill would preempt state and local laws related to the possession and transportation of knives by allowing individuals to transport knives through states that prohibit them. The bill also would prevent owners of temporary lodgings and transport companies from banning the possession of knives on their property, which would be a private-sector mandate. CBO estimates that the costs to comply with the mandates would be small and below the thresholds for intergovernmental and private-sector mandates ($103 million and $206 million in 2025, respectively, adjusted annually for inflation).

    On February 11, 2025, CBO transmitted a cost estimate for S. 246, the Interstate Transport Act of 2025, as ordered reported by the Senate Committee on Commerce, Science, and Transportation on February 5, 2025. The two bills are similar, and CBO’s estimates of their budgetary effects are the same.

    The CBO staff contacts for this estimate are Jeremy Crimm (for federal costs) and Erich Dvorak (for mandates). The estimate was reviewed by H. Samuel Papenfuss, Deputy Director of Budget Analysis.

    Phillip L. Swagel

    Director, Congressional Budget Office

    MIL OSI USA News –

  • MIL-OSI USA: H.R. 4071, Combatting International Drug Trafficking and Human Smuggling Partnership Act of 2025

    Source: US Congressional Budget Office

    H.R. 4071 would allow Customs and Border Protection (CBP) to participate in joint operations with foreign governments abroad to prevent illicit drug trafficking and terrorist threats. The bill also would authorize CBP to pay certain claims for monetary damage, loss of personal property, or injury brought against the United States that arise from such operations. Under current law, CBP can settle claims for those purposes that arise within the United States under the Federal Tort Claims Act (FTCA), but not those that originate in a foreign country. H.R. 4071 would require CBP to report to the Congress within 90 days of paying such a claim. Under the bill, all claims would be paid from discretionary funds and the authority to pay those claims would expire five years after enactment.

    Based on similar FTCA claims, CBO estimates that very few claims would be paid under the bill and the average claim would be small. As a result, CBO estimates that implementing H.R. 4071 would cost less than $500,000 over the 2025-2030 period. Any related spending would be subject to the availability of appropriated funds.

    The CBO staff contact for this estimate is Jeremy Crimm. The estimate was reviewed by H. Samuel Papenfuss, Deputy Director of Budget Analysis.

    Phillip L. Swagel

    Director, Congressional Budget Office

    MIL OSI USA News –

  • MIL-OSI USA: H.R. 1608, Department of Homeland Security Vehicular Terrorism Prevention and Mitigation Act of 2025

    Source: US Congressional Budget Office

    H.R. 1608 would require the Department of Homeland Security (DHS) to report to the Congress on its efforts to detect, prevent, and respond to acts of terrorism in which a vehicle is used as a weapon. The report would include an assessment of current and emerging threats, a review of high-risk locations, and recommendations for research and development. H.R. 1608 would require DHS to brief the Congress on the report’s findings and recommendations.

    Based on the costs of similar activities, CBO estimates that implementing H.R. 1608 would cost less than $500,000 over the 2025-2030 period. Any related spending would be subject to the availability of appropriated funds.

    The CBO staff contact for this estimate is Jeremy Crimm. The estimate was reviewed by H. Samuel Papenfuss, Deputy Director of Budget Analysis.

    Phillip L. Swagel

    Director, Congressional Budget Office

    MIL OSI USA News –