NewzIntel.com

Category: Economics

  • MIL-OSI Economics: IADC Lexicon Featured Term for May 2025

    Source: International Association of Drilling Contractors – IADC

    Headline: IADC Lexicon Featured Term for May 2025

    The IADC Lexicon is an oil and gas dictionary of upstream-related terms, which, unlike conventional glossaries, are official definitions drawn from legislation, regulation and regulatory guidance, standards (global, national and regional), IADC guidelines, and Well Control Institute. Terms often have multiple definitions from different sources.

    This month’s featured term is:

    Return Flow Control

    MPD technique which diverts returned fluid flow away from the rig floor in order to handle any formation fluid influx, thereby avoiding closing of a BOP, with the subsequent well control steps that are customarily required. RFC is drilling with a closed annulus return system (RCD) immediately under the rig floor for complete assurance of the total diversion of any rapidly developing kick.

    Source: ABS Guide for Classification and Certification of Managed Pressure Drilling Systems, September 2017. Global Standards

    MIL OSI Economics –

  • MIL-OSI Economics: University of Boumerdes Student Chapter Celebrates 1 Year Anniversary, Partners with TedX, and More!

    Source: International Association of Drilling Contractors – IADC

    Headline: University of Boumerdes Student Chapter Celebrates 1 Year Anniversary, Partners with TedX, and More!

    Second Semester Chapter Board:

    The Chapter introduced a new board for the second semester, bringing in fresh perspectives and renewed energy to drive the chapter’s goals forward. Congratulations to the incoming board members, and thank you for your service!

    Partnership with TEDx University of Boumerdes:

    A partnership with TEDx University of Boumerdes was established by the Chapter to strengthen collaboration, inspire cross-disciplinary learning, and broaden outreach.

    Clean-up Campaign and Planting Initiative:

    The Chapter organized a cleanup and tree-planting event in Corso Forest, in collaboration with the Directorate of Environment of Boumerdes and the National Waste Agency (AND). The event promoted sustainability and environmental awareness among students.

    Career Path Workshop:

    Rima Kadi, Founder of The Seed Academy and former HR professional with SLB and Oilserv, spoke to the students during a workshop focused on career paths. She provided valuable guidance and shared lessons from her years of experience in the oil and gas sector.

    1 Year Anniversary Celebration:

    Students celebrated the first anniversary of the Chapter, reflecting on their journey so far and setting the vision for continued growth and impact. CONGRATULATIONS to the IADC University of Boumerdes Student Chapter for a successful and vibrant first year!! 

    MIL OSI Economics –

  • MIL-OSI Economics: From the Chairman: With a focus on collaboration, everything else becomes possible

    Source: International Association of Drilling Contractors – IADC

    Headline: From the Chairman: With a focus on collaboration, everything else becomes possible

    In a thought-provoking editorial from the May/June issue of Drilling Contractor, IADC Chairman Kevin Neveu offers a fresh perspective on collaboration within the drilling industry, challenging companies to reconsider how they approach working relationships in today’s complex energy landscape.

    Neveu argues that the industry should shift its mindset to view collaboration not merely as a means to an end, but as the primary goal itself. He suggests that when teamwork becomes the central focus, other critical objectives—from safety improvements to operational efficiency—naturally follow.

    According to Neveu,

    “When teamwork, mutual respect and cooperation are the main objectives, everything else becomes easier, and success becomes more attainable. By prioritizing working as a team, with honest collaboration, we can weave in every other important outcome—safety, efficiency, less nonproductive time, KPIs, etc.”

    The Chairman shares a personal example from his earlier career at National Oilwell that demonstrates how a collaborative approach to problem-solving with new technology led to faster resolution than when facing an adversarial stance. He extends this concept beyond individual companies, suggesting that the entire energy sector would benefit from breaking down competitive barriers.

    Neveu highlights IADC itself as “a fantastic example of collaboration for the benefit of all,” where competitors regularly come together to address industry challenges, create technical resources, establish safety standards, and organize vital knowledge-sharing events.

    As the industry faces complex challenges, Neveu’s message is unambiguous: true collaboration leads to collective success. He encourages all industry professionals to reconsider what collaboration means to them and how embracing this mindset could accelerate careers, companies, and the industry at large.

    MIL OSI Economics –

  • MIL-OSI Economics: Teachers Want More Professional Development — and Samsung Solve for Tomorrow Delivers

    Source: Samsung

    America’s teachers are hungry for more — and better — professional development opportunities. It’s a consistent message Samsung Electronics America has heard over the 15 years of running Samsung Solve for Tomorrow, the nationwide STEM competition that empowers educators to help public middle and high school students create real-world solutions for community issues — and prove that STEM is about more than equations, coding, and lab experiments. It’s about creativity, critical thinking, and making a lasting difference.
    Our latest survey, The State of STEM Education, confirms it: an overwhelming 97% of teachers said they would like additional support or resources to help them bring emerging tech and educational concepts into their STEM teaching. Specifically, they rank access to professional development and training as an urgent need on a par with updated curriculum resources, and alongside priorities like improved technology and collaboration with industry professionals.
    Responding to this call for educator support, Samsung created the Samsung Solve for Tomorrow Teacher Professional Development program seven years ago. Since then, we’ve been expanding and evolving the program, introducing new subject areas and offering flexible, virtual  learning experiences to make educator professional development even more accessible. This year’s seventh annual Teacher Professional Development expanded further, offering nearly 200 teachers three separate virtual workshops focused on critical areas shaping the future of STEM education: Artificial Intelligence (AI), Design Thinking, and Entrepreneurship.

    The interactive virtual sessions wove subject-expert presentations together with engaging breakout discussions, giving educators the opportunity to connect, share ideas, and exchange teaching experiences. Led by experts in their respective fields — AI with longtime Teacher Professional Development partner MindSpark Learning, Entrepreneurship with BUILD.org, and Design Thinking with Samsung Education Solutions coaches — participants worked together to develop and present plans and solutions in response to challenges posed by the session facilitators. This approach was designed to mirror the collaborative, real-world problem-solving educators foster in their own classrooms.
    At a time when America’s education sector is facing uncertainty and increased pressure on resources, the feedback we received from teachers validates Samsung’s continued investment in their professional development:
    “You are providing a service that is not otherwise available to small rural school districts struggling with budgetary constraints. It is very much appreciated.”
    “I anticipate the sessions benefitting me in the classroom a couple of different ways: 1) using the knowledge gained from the session to be cognizant of the potential to take an engineering design project to an actual product fit for patent or even marketing; 2) embracing artificial intelligence so that students will see it as a resource to help them develop more thorough prompts and to know it’s not a secret tool you shouldn’t let teachers know you are using.”
    “The information presented in the sessions will enable us to create more thorough design proposals and will allow us to use AI tools to help us throughout the project development life cycle.”

    MIL OSI Economics –

  • MIL-OSI Economics: Things to Know: All About the New One UI 7

    Source: Samsung

    Artificial intelligence tools are making our lives easier — and frankly, way cooler — than ever before. Whether we’re talking appliances that automatically adjust to the task at hand or the kind of artistic creativity your smartphone can help you unleash.
    Beginning to roll out now in the U.S., the new One UI 7 interface is coming to Samsung devices1 like the Galaxy 24 series, Galaxy S24 FE, Galaxy Z Fold6, and Galaxy Z Flip6, Galaxy S23 series, Galaxy S23 FE, Galaxy Z Fold5 and Z Flip5, the Galaxy Tab S10 series, and the Galaxy Tab S9 series.
    At its core, One UI 7 delivers a refined, more intuitive experience through advanced AI integration. Whether you’re an everyday user or a content creator, the new interface streamlines your daily interactions while unlocking powerful creative possibilities.
    As part of our Things to Know series, we partnered with the Samsung Customer Care team to break down everything you need to know about how to use it and what it can do for you.

    What is Samsung’s One UI 7?
    One UI 7 represents Samsung’s most sophisticated interface update yet. This comprehensive redesign brings a fresh aesthetic to your Galaxy devices while introducing intelligent features that adapt to how you use your device.
    How to get the most out of the One UI 7 update
    The One UI 7 update is a game-changer for how you use your phone. The new Now Bar2 at the top of your screen keeps essential information at your fingertips without unlocking your device – from real-time news updates to workout progress and sports scores. Just tap it to get more details, or unlock your phone to work within the respective app.

    Using your phone to plan for everyday things like where to eat for dinner just got a lot more seamless, too. Want to check out a Mexican restaurant in your neighborhood with outdoor seating? Now you can connect to multiple apps in a single prompt with Google Gemini3, making it easier to find that perfect restaurant that meets all your requirements, without having to switch between apps.
    Plus, the revamped Settings menu now understands natural language commands.4 Tired eyes? Open Settings, tap on the mic, and simply share that with your device – your phone or tablet will come back with options to help you out ASAP, like adjusting brightness or activating the Eye Comfort Shield. If you’re not a fan of voice search, you can use the same upgraded search feature by going into Settings, tapping the magnifying glass search icon, and navigating the smartened-up results from there.

     
    How To Use One UI 7’s AI Updates For Content Creation
    The new AI Select5 feature serves as your intelligent creative assistant, suggesting relevant AI tools based on your activity – just look for the AI Select icon as you use your phone to see what it can do for you. For example, if you swipe the Edge Panel when you’re watching a video, the icon will prompt you to make a GIF from what you’re watching.
    There are also new One UI 7 editing features that use AI to help artists and creators use their phones and tablets for written, visual, and audio projects:
    Writing Assist6: Streamline your writing with intelligent summarization and formatting tools.
    Auto Trim: Create compelling video highlights automatically by letting AI identify key moments.

    Contextual photo enhancements: Let Galaxy AI7 analyze and suggest improvements for your photos, perfect for enhancing everything from family portraits to vacation memories.
    Drawing Assist8: Combine text prompts, images, and sketches in just one input, expanding the potential for your creative projects – it can even make illustrations and 3D cartoons. You can then download your art, share it with friends directly, or turn them into stickers for your messaging apps.
    Audio Eraser9: Precisely control your video’s sound quality by analyzing and filtering different audio elements.

    Looking for more tips or need additional support from the Samsung Care Team? Visit the Samsung Care YouTube Channel, check out the Samsung Members App and Samsung Communities or text us any time by messaging 1-800-SAMSUNG to start a conversation with a Samsung Care Pro.

    1 Release date and availability may vary per carrier network.
    2 Requires WIFI connection and Samsung and Google accounts.
    3 Gemini Extensions feature availability varies based on content. Internet connection, Android device, and set up required. Language availability varies. Results for illustrative purposes and may vary. Check responses for accuracy.
    4 Currently supported languages include Korean, English, German, French, Italian, Spanish, Chinese, Japanese, and Portuguese. Available in Galaxy S24 series, Galaxy S24 FE, Galaxy Z Fold6 and Z Flip6, and Galaxy Tab S10 series. Accuracy of results is not guaranteed.
    5 Results may vary depending on model. Accuracy of results is not guaranteed. Requires internet connection and Samsung Account login. Service availability may vary by language or device model. Availability of supported languages may vary. Certain languages may require language pack download.
    6 For text in Samsung Notes only (200 – 4,000 characters); requires Samsung account login and internet connection.
    7 Galaxy AI features by Samsung are free through 2025 and require Samsung account login.
    8 Sketch to Image feature requires a network connection and Samsung Account login. Editing with Sketch to Image may result in a resized photo up to 12MP. A visible watermark is overlaid on the image output upon saving in order to indicate that the image is generated by AI. The accuracy and reliability of the generated output is not guaranteed.
    9 Compatible with common video formats accessible in Gallery; helps minimize six sounds (Voice/speech, Music, Noise, Crowd, Nature, Wind) utilizes AI; results may vary.

    MIL OSI Economics –

  • MIL-OSI Economics: Top 25 global banks post 9.4% revenue growth YoY in 2024 but profits under pressure, reveals GlobalData

    Source: GlobalData

    The world’s top 25 global banks reported 9.4% year-on-year (YoY) revenue growth in 2024 despite global economic pressures, with Sberbank Rossii, BBVA, and UBS Group standing out as key performers. However, profit margins were mixed, as many banks faced higher costs, regulatory tightening, and geopolitical uncertainty, highlighting the growing gap between revenue performance and overall financial health, finds GlobalData, a leading data and analytics company.

    Most of the top 25 banks reported YoY growth in their top-line performance, with Sberbank Rossii and BBVA emerging as top performers, posting a growth of 54% and 30.3%, respectively. UBS Group also registered a growth of 22.3%.

    Murthy Grandhi, Company Profiles Analyst at GlobalData, comments: “Sberbank Rossii emerged as the top performer in revenue defying broader geopolitical and macroeconomic pressures. The bank reported double-digit revenue growth, supported by a strong rebound in Russia’s domestic economy, stabilizing inflation, and high interest margins but its net income sharply declined into negative territory, reflecting the combined impact of macroeconomic instability, currency depreciation, and mounting operational constraints due to international sanctions.”

    Similarly, BBVA achieved a 28.9% growth in interest income, driven by its geographic diversification, particularly in Mexico and Turkey, where interest margins widened significantly.

    Another bank to deliver outstanding results was UBS Group, with revenue jumping 22.3% YoY, and a robust five-year CAGR of 17.4%—largely reflecting its landmark takeover of Credit Suisse. However, net income plummeted by over 80%, underscoring the short-term cost burdens and integration risks associated with the acquisition.

    Top Chinese banks—ICBC, China Construction Bank, Agricultural Bank of China, and Bank of China—reported modest revenue and income growth. ICBC’s 2024 revenue marginally declined (-0.6% YoY), while Agricultural Bank posted the strongest five-year CAGR in assets among the Chinese peers (8.8%). Margin compression due to policy-induced rate caps and slower domestic economic growth weighed on profitability. Nonetheless, their asset bases continue to expand steadily, reflecting domestic dominance and strong government backing.

    JPMorgan Chase led the revenue charts with an impressive $278.9 billion in 2024, representing a YoY growth of 16.5% and a five-year CAGR of 16.5%. The surge was underpinned by elevated net interest income amid sustained high rates and robust trading performance. Its net income reached $58.5 billion (18% YoY growth), with asset growth moderating to 3.3%, reflecting balance sheet prudence amid tightening regulations.

    Bank of America and Citigroup also benefitted from the high-rate cycle. Citigroup notably recorded a 13.96% revenue CAGR, with 2024 revenues at $170.8 billion. However, asset contraction (-2.4% YoY) reflects restructuring and divestments in underperforming regions.

    European banks, long plagued by negative rates and fragmented markets, appear to be rebounding. BNP Paribas and HSBC posted robust revenue CAGR of 13.1% and 14% respectively, supported by diversified global operations and cost rationalizations. Notably, Societe Generale and Credit Agricole recorded revenue CAGR above 17%, with net income rebounds of over 60% YoY, albeit from low bases. These turnarounds suggest successful strategic pivots and a more favorable interest rate environment in the Eurozone.

    Grandhi concludes: “Looking ahead, global banks face a mixed landscape. Easing inflation could trigger interest rate cuts in the US and Europe, potentially impacting net interest margins. However, this may be offset by the revival in credit demand and easing capital costs. Regulatory tightening, especially in the US and China, will challenge profitability. Additionally, banks exposed to emerging markets must navigate currency volatility and political instability.

    “Digital transformation and green financing will remain pivotal themes. Institutions investing in fintech partnerships, AI-led customer engagement, and ESG-aligned lending are likely to outperform.”

    MIL OSI Economics –

  • MIL-OSI Economics: GlobalData revises down global MAT insurance industry growth forecast due to increased US tariffs

    Source: GlobalData

    The global marine, aviation, and transit (MAT) insurance industry, which was forecasted to grow at a compound annual growth rate (CAGR) of 6.9% before the imposition of the reciprocal tariff from the US, is now expected to grow at a CAGR of 6.4% during 2025-29, in terms of written premiums, according to GlobalData, a leading data and analytics company.

    On April 02, 2025, the US President announced “reciprocal” tariffs on imports. These tariffs include a base 10% plus additional tariffs ranging from 10% to 245%. Higher tariffs are typically imposed on specific products, but the blanket tariff rate of 10% on all countries will negatively impact the global economy. The countries that are mostly dependent on exports to the US will be severely impacted. However, there is a hold on this tariff for 90 days, except for China.

    According to GlobalData’s Insurance Database, the US accounted for around 50% of the global MAT insurance premiums in 2024. As per the revised forecast, high reciprocal tariffs will reduce US MAT insurance premiums by 1.4% in 2025, whereas the premiums of global MAT insurance will be impacted by 0.7%. The US is the largest importer in the world, with Mexico, China, Canada, Germany, and Japan being the top 5 exporting countries in 2023, accounting for 53% of the total US imports.

    GlobalData expects the CAGR of MAT insurance premiums during 2025-29 to reduce by 0.5pp in Mexico, 0.6pp in China, 0.5pp in Canada, 0.5pp in Germany, and 0.2pp in Japan.

    Swarup Kumar Sahoo, Senior Insurance Analyst at GlobalData, comments: “The ‘Liberation Day’ tariff will disrupt the global MAT insurance as the premium growth will slow down in 2025 and subsequent years compared to the previous forecast. Although the global MAT business will experience a temporary surge during April-June 2025 due to the 90-day pause in the tariff, the growth will slow down once the tariff is in place. This will also impact the profitability of MAT insurers across the world.”

    The US has imposed a tariff in the range of 20% (Germany and Italy) to 245% (China) on the top 10 exporters, which contribute 69% of the total US imports, according to the Observatory of Economic Complexity (OEC). Marine cargo business of all the markets except Canada and Mexico will be impacted, whereas for Mexico and Canada, which account for 29% of the total US imports, the aviation cargo and transit insurance will be disrupted.

    Sahoo adds: “The decline in MAT premiums growth rate will be due to both a decline in exports and the value of exported goods. In case the exporter absorbs the cost of the tariff, the cost of goods will go down, and this will reduce the sum insured and the respective premium amount. On the other hand, if the importer bears this, it will be passed on to the consumer, leading to a decline in demand.”

    To offset higher tariffs, importers have started either consolidating shipments or increasing the order size. The risk of theft and damage has increased due to the concentration of high-value goods at various points. Furthermore, the imposition of revised tariffs across countries will create complexities in customs clearance, leading to an increase in demurrage and detention fees.

    Insurers are expected to incur additional costs to rewrite such policies by considering the complexities and associated additional risks. Additionally, increased claims in marine cargo, aviation cargo, and transit will impact the profitability of insurers.

    Starting May 02, 2025, the US will eliminate the exemption of import tariffs on goods under $800 from China and Hong Kong. Due to this, DHL has suspended high-value business-to-consumer shipments to the US. Also, various airlines have suspended air cargo services for high-value goods. This will directly impact the air cargo insurance business.

    Sahoo concludes: “The imposition of the higher tariff will disrupt the global MAT insurance, impacting premiums growth, while increasing the associated risks. Insurers need to be vigilant as higher claims would erode profitability. Furthermore, MAT insurers in the US will lose their global market share as they write half of the global MAT business.”

    MIL OSI Economics –

  • MIL-OSI Economics: Suntory’s advertising campaigns emphasize refreshment, tradition, and social connections to engage diverse audiences, reveals GlobalData

    Source: GlobalData

    Suntory’s advertising campaigns emphasize refreshment, tradition, and social connections to engage diverse audiences, reveals GlobalData

    Posted in Business Fundamentals

    Suntory Holdings Ltd’s (Suntory) YouTube advertising campaigns of Q1 2025 (January – March 2025) focused on delivering refreshing beverages, celebrating Japanese heritage, and fostering meaningful connections through shared experiences. Suntory’s campaigns showcase a wide range of offerings, from Craft Boss World Tea to Suntory Whisky Hibiki Harmony, emphasizing the company’s dedication to quality and authenticity. Targeting young adults, families, and connoisseurs, Suntory presents its products as perfect for unwinding, social events, and celebrating cultural heritage, reveals Global Ads Platform of GlobalData, a leading data and analytics company.

    Satya Prasad Nayak, Ads Analyst at GlobalData, comments: “Suntory’s advertisements effectively blend modernity with tradition, showcasing products like Iyemon Green Tea alongside offerings such as The Premium Malt’s Japanese Ale. The use of strategic celebrity endorsements, including Tommy Lee Jones and Muto Keiji, created relatable yet aspirational narratives. Campaigns like Tennensui’s Hello Kitty partnership and Jim Beam’s focus on camaraderie reflect Suntory’s dedication to diverse consumer values, from family well-being to refined craftsmanship, fostering trust and engagement across varied demographics.”

    Below are the key focus areas of Suntory’s advertisements, revealed by GlobalData’s Global Ads Platform:

    Celebrating Togetherness: The Craft Boss World Tea, with its range of Fruit Tea Ade and Milk Tea, invites families to connect over diverse flavors. Just as Jim Beam bourbon brings friends together, fostering camaraderie through shared experiences. Whether it’s a family gathering or a business trip toast, both brands understand the importance of shared moments, offering the perfect drinks to celebrate every bond.

    Healthy Lifestyle: Suntory Tennensui Marushibori SPARK Unsweetened promotes a balanced lifestyle with its unsweetened, whole-pressed fruit sparkling water. The natural ingredients and invigorating sparkle appeal to health-conscious consumers seeking refreshing, sugar-free beverages that align with their wellness goals.

    Cultural Heritage and Craftsmanship: Suntory leveraged traditional Japanese elements in advertisements like Iyemon Green Tea and Hibiki Whisky. From showcasing Nishijin-ori dyeing in Hibiki to Kyoto’s tea traditions in Iyemon, the brand appealed to those who value artistry, legacy, and cultural depth—strengthening emotional ties to its premium product lines.

    Family Well-being: The collaboration between Tennensui and Hello Kitty promoted emergency preparedness through a lighthearted lens. By featuring family-friendly characters and emphasizing hydration during crises, Suntory demonstrated care for household safety, making its water products essential and relatable for families with young children.

    MIL OSI Economics –

  • MIL-OSI Economics: Italy card payments to hit $443.7 billion in 2025 despite economic headwinds, forecasts GlobalData

    Source: GlobalData

    Italy card payments to hit $443.7 billion in 2025 despite economic headwinds, forecasts GlobalData

    Posted in Banking

    The Italy card payments market is expected to grow by 6.6% to reach EUR410.2 billion ($443.7 billion) in 2025 despite global economic uncertainty. This reflects rising consumer preference for electronic payments, supported by government policies, increased contactless adoption, and a shift towards digital banking, according to GlobalData, a leading data and analytics company.

    GlobalData’s Payment Cards Analytics reveals that the card payment value in the Italy registered a growth of 11.4% in 2023, driven by the rise in consumer spending. The value registered an estimated growth of 8.6% in 2024 to reach EUR384.6 billion ($416.1 billion). However, the current global uncertainty because of the latest US tariffs can pose a challenge for the Italy’s overall economic growth, resulting in slowdown in the overall card payments value in 2025.

    Ravi Sharma, Lead Banking and Payments Analyst at GlobalData, comments: “The surge in card payments is primarily driven by the government’s initiatives to promote electronic payments, including mandating certain merchant categories to accept card payments and offering tax incentives to those who comply. Additionally, the rising adoption of contactless cards, the proliferation of digital-only banks, and the growth of e-commerce are further propelling the Italian electronic payments landscape, indicating a promising trajectory for the sector.”

    Debit cards are mostly preferred due to strong banking penetration and concerted efforts by banks and government bodies to promote financial inclusion. The Italian central bank has implemented various initiatives to enhance electronic payment adoption, including regulations that encourage banks to offer basic accounts with low or no fees.

    On the other hand, credit and charge card payments are also witnessing notable growth due to the value-added benefits they offer, such as cashback, discounts, and reward points. The European Central Bank (ECB’s) recent interest rate cuts are expected to further stimulate credit card spending by making borrowing more affordable and enhancing consumer confidence in credit usage.

    The adoption of contactless payments is becoming increasingly prevalent in public transport systems across Italy. For instance, in March 2024, the Tuscany Region’s public transport service provider, Autolinee Toscane, implemented a contactless payment system. Similarly, the European Union’s Alternative Fuels Infrastructure Regulation, effective from April 2024, mandates the installation of contactless payment systems at public EV charging stations, further driving the adoption of contactless payments in Italy.

    Sharma concludes: “Looking ahead, the total card payments market in Italy is expected to continue its upward trajectory, driven by the ongoing government initiatives, technological advancements, and a cultural shift towards electronic payments. The combination of rising banking penetration, innovative payment solutions, and a favorable regulatory environment will likely position Italy’s card payments market for sustained growth. The card payments value is expected to register a compound annual growth rate (CAGR) of 5.3% between 2025 to 2029 to reach EUR504.7 billion ($546 billion) in 2029.”

    MIL OSI Economics –

  • MIL-OSI Economics: Samsung Ads Reveals Interactive Ad Formats, the Samsung Television Network, and Full-Funnel Performance Solutions at NewFronts 2025

    Source: Samsung

    At IAB NewFronts 2025, Samsung Ads, the advanced advertising division of Samsung Electronics, is calling on brands to go beyond the status quo and unlock the full performance potential of connected TV (CTV).
    Kicking off the suite of announcements at NewFronts is the debut of STN, the Samsung Television Network, the broad-FAST channel of the future available exclusively on Samsung TV Plus, the #1 FAST app on Samsung Smart TVs. Offering an extensive slate of live sports, music, movies, and late-night programming, which will give brands unique opportunities to tap into the full power of the Samsung TV ecosystem at an unrivaled scale. Additionally, Samsung Ads is also unveiling a bold lineup of interactive and innovative, data-driven solutions including Optimal Reach, GameBreaks, Performance Conversion, and Data+, further transforming TV from a mass-reach channel into a powerful, performance-driven service built to achieve a multitude of advertiser KPIs.
    At the nexus of hardware, software, and advertising, Samsung Ads is transforming how brands connect with consumers across every screen. As the world’s #1 Smart TV brand for 19 years running with an unmatched ecosystem that spans across mobile and the entire connected home, over one billion consumers trust Samsung to power the moments that matter most. From interactive experiences to custom content, Samsung Ads turns attention into action and connects brands with audiences in the most meaningful and measurable ways.
    “It’s no longer enough for marketers to justify the status quo—they need breakthrough performance, and that’s exactly what Samsung Ads is built to deliver,” said Michael Scott, Vice President & Head of Ad Sales & Operations at Samsung Ads. “This year, we’re empowering our partners to go beyond the limits of traditional CTV with next-gen innovation, strategic partnerships, and tools that turn attention into action and media into measurable impact.”
    Samsung TV Plus Introduces Samsung Television Network; Doubles Down on Top Content Creators and Exclusive Partnerships
    Announced today, Samsung Television Network (STN) is a broad-FAST channel that brings viewers a curated selection of Samsung TV Plus’ most in-demand programming and A-list talent—from the Legends of Late Night David Letterman and Conan O’Brien to Emmy-winning series like Killing Eve—along with live sports and must-see events. Samsung Television Network will also serve as the live exclusive home for the Jonas Brothers’ upcoming tour. Advertisers can tap into the full power of Samsung’s TV ecosystem, elevating their brands around the network’s premier programming with touchpoints spanning the Samsung home screen, Samsung TV Plus UI, and interactive ads within commercial breaks.
    “As the #1 streaming service on Samsung TVs, we’re not just following viewer trends—we’re shaping them,” said Salek Brodsky, SVP and Global Head of Samsung TV Plus. “Through deep insights and personalized curation, we’re delivering the content audiences love in an unbeatable format. We’re rewriting the rules of streaming and teaming up with A-list talent to bring exclusive entertainment to the biggest screen in the home. This strategy has fueled more than 30% viewership growth this year, and with our newly announced partnerships, we’re positioning Samsung TV Plus for even greater momentum and market leadership in the year ahead.”

    Premium Programming and Exclusive Experiences
    Samsung TV Plus is experiencing a banner year for growth, surpassing 88 million monthly active users, and now offers an industry-leading lineup of nearly 700 channels in addition to its extensive on-demand library. With 92% of first-time viewers continuing to watch beyond the three-month mark—Samsung TV Plus outperforms the competition when it comes to viewer value and stickiness.
    Samsung TV Plus is a go-to partner for the biggest talent in the business—and to prove it, the ‘Legend of Late Night’ himself, David Letterman, joined Samsung on-stage during its NewFront presentation to discuss his award-winning, exclusive Samsung TV Plus channel, Letterman TV.
    Samsung TV Plus announced it is expanding its live event lineup with the Living the Dream Tour, offering fans exclusive access to the Jonas Brothers’ tour kicking off at MET LIFE Stadium on August 10th. Viewers can experience exhilarating performances, behind-the-scenes moments, and their favorite songs performed live—all from the biggest screen in the home.
    In another first, Samsung TV Plus is partnering with the global leader in podcasts, Spotify, to deliver a dedicated channel from ‘The Ringer,’ which is home to some of the most popular podcasts and most recognizable talent in sports and pop culture, exclusively to Samsung TV Plus. The channel will feature a curated lineup of video podcast episodes where fans can enjoy the best of their favorite shows such as Book of Basketball 2.0 with Bill Simmons, The Rewatchables, Higher Learning, and The Ringer-Verse, all in one place in a lean-back TV experience on the biggest screen in the house.
    Building on this momentum, the service unveiled its commitment to bringing standout creators to audiences nationwide, announcing new partnerships with some of the country’s top talent—including former NASA engineer turned mega-creator Mark Rober, whose STEM programming inspires and excites tens of millions of viewers across all ages along with top content creator Dhar Mann whose uplifting and inspiring family-friendly dramas tackle universal human truths.
    Additional content arriving on Samsung TV Plus:
    A-list Top Content Creators Take Center Stage
    Samsung TV Plus’s exclusive partnerships with Creators will feature new channels from top talent. Joining the service are Michelle Khare, Smosh, The Try Guys, Epic Gardening, The Sorry Girls, and Donut Media—bringing fan-favorite content that taps into passions from comedy, DIY, gardening, cars, and sustainability.

    VIP Access to the Biggest Moments
    Billboard: Launching this summer, through a new and exclusive partnership with Billboard, Samsung TV Plus is bringing the iconic brand to FAST. This new network will give fans VIP red carpet access to over 25 of the industry’s most iconic events, including live red carpets and coverage of tentpole cultural events, such as the Golden Globes and the Billboard Music Awards. Samsung TV Plus will also be the co-exclusive home for Billboard News, premiering new episodes weekly.

    Free Sports Streaming Just Got Even Bigger
    Samsung TV Plus now has one of the largest FAST sports offerings with over 50 channels and gives fans access to live local and national games from major and minor leagues with unparalleled sports coverage. New sports channels include Bally Sports Live with exclusive Minor League Baseball games and in-season NHL games from the Anaheim Ducks and the Dallas Stars with Victory+.

    From the Stage to Your Screen
    SMTOWN 2025: Samsung TV Plus is partnering with SM Entertainment to launch a dedicated SMTOWN channel, expanding its commitment to delivering the best-in-class K-Content to fans worldwide. The new channel will kick off with SMTOWN LIVE 2025 in L.A.—a star-studded 30th anniversary concert streaming live from Los Angeles on May 11, exclusively on Samsung TV Plus.

    MIL OSI Economics –

  • MIL-OSI Economics: W&T Offshore Announces First Quarter 2025 Results and Declares Dividend for Second Quarter of 2025

    Source: W & T Offshore Inc

    Headline: W&T Offshore Announces First Quarter 2025 Results and Declares Dividend for Second Quarter of 2025

    HOUSTON, May 06, 2025 (GLOBE NEWSWIRE) — W&T Offshore, Inc. (NYSE: WTI) (“W&T,” the “Company,” “we” or “us”) today reported operational and financial results for the first quarter of 2025 and declared a second quarter 2025 dividend of $0.01 per share.

    This press release includes non-GAAP financial measures, including Adjusted Net Loss, Adjusted EBITDA, Free Cash Flow and Net Debt, which are described and reconciled to the most comparable GAAP measures in the accompanying tables to this press release under “Non-GAAP Information.”

    Key highlights for the first quarter of 2025 and through the date of this press release include:

    • Produced 30.5 thousand barrels of oil equivalent per day (“MBoe/d”) (52% liquids), towards the high end of guidance;
      • Announced that the West Delta 73 and Main Pass 108/98 fields were placed into production towards the end of March/early April with production expected to ramp up over the course of the second quarter of 2025;
    • Incurred lease operating expenses (“LOE”) of $71.0 million, below the low end of guidance;
    • Reported net loss of $30.6 million, or $(0.21) per diluted share;
      • Adjusted Net Loss totaled $19.1 million, or $(0.13) per diluted share, which primarily excludes the loss on extinguishment of debt and net unrealized gain on outstanding derivative contracts and the related tax effects;
    • Generated Adjusted EBITDA of $32.2 million, an increase of 2% over the fourth quarter of 2024;
    • Produced Free Cash Flow of $10.5 million;
    • Successfully refinanced, in January 2025, the Company’s $275.0 million 11.75% Senior Second Lien Notes due 2026 (the “11.75% Notes”) and $114.2 million outstanding amount under the term loan provided by Munich Re Risk Financing, Inc., as lender (the “MRE Term Loan”) with proceeds from the issuance of $350.0 million of 10.75% Senior Second Lien Notes due 2029 (the “10.75% Notes”) and available cash on hand;
      • Paid down and effectively reduced gross debt by approximately $39.0 million;
      • Enhanced liquidity by eliminating principal payments under the MRE Term Loan of $27.6 million in 2025, $25.4 million in 2026, $22.9 million in 2027 and $38.3 million in 2028;
      • Lowered interest rate on the Senior Second Lien Notes by 100 basis points;
    • Entered into a new $50.0 million revolving credit facility which matures in July 2028, and is undrawn, and the previous credit facility provided by Calculus Lending, LLC was concurrently terminated, with all outstanding obligations paid in full in connection with the termination;
    • Sold a non-core interest in Garden Banks Blocks 385 and 386 in January 2025, which included latest net production of approximately 195 barrels of oil equivalent per day (“Boe/d”) (72% oil) for $11.9 million, or over $60,000 per flowing barrel, after customary closing adjustments;
    • Received $58.5 million in cash for an insurance settlement related to the Mobile Bay 78-1 well, which further bolstered W&T’s balance sheet;
    • Reported unrestricted cash and cash equivalents of $105.9 million and Net Debt of $244.1 million at March 31, 2025;
    • Added natural gas costless collar hedges for 2025 including:
      • 50,000 million British Thermal Units per day (“MMBtu/d”) for March 2025, with a floor price of $3.88 per MMBtu and ceiling price of $5.13 per MMBtu;
      • 70,000 MMBtu/d for April to December 2025, with a volume-weighted average floor price and ceiling price of $4.02 per MMBtu and $5.32 per MMBtu, respectively;
    • Paid sixth consecutive quarterly dividend of $0.01 per common share in March 2025; and
      • Declared second quarter 2025 dividend of $0.01 per share, which will be payable on May 27, 2025 to stockholders of record on May 20, 2025.

    Tracy W. Krohn, W&T’s Chairman of the Board and Chief Executive Officer, commented, “We continue to successfully execute our strategic vision and have delivered another quarter of strong results in line with or above our guidance. We reported production at the high end of our guidance range and, more importantly, we have brought online the remaining two fields from the Cox acquisition, which we expect will meaningfully increase production for the remainder of 2025, as you can see from our second quarter and full year guidance. Acquisitions remain a key component of our success, and it is our ability to integrate and enhance the assets that we acquire that has allowed us to successfully operate for over 40 years. We generated solid Free Cash Flow and Adjusted EBITDA and we recorded lease operating expenses below the low end of our guidance. We will continue to focus on increasing our production, particularly our oil production, and managing our operating costs.”

    “Our balance sheet was strengthened in the first quarter of 2025 due to several key accomplishments. We successfully closed the issuance of new 10.75% Notes, entered into a new revolving credit facility and added material cash through a non-core disposition and an insurance settlement. The new 10.75% Notes have an interest rate 100 basis points lower than our 11.75% Notes and received improved credit ratings from S&P and Moody’s. We also received a $58.5 million cash insurance settlement payment related to a well impairment event. Finally, we sold a non-core interest in Garden Banks 385 and 386 for $11.9 million, after customary closing adjustments, at a value of over $60,000 per flowing barrel, which is highly accretive to W&T. We have over $100 million in cash on our balance sheet and remain prepared to take advantage of potential acquisitions. With the change in administration and the White House’s directives to Unleash American Energy, we also see promising developments in the regulatory environment for oil and gas companies. We are well positioned to continue to enhance our portfolio through additional accretive acquisition opportunities and are committed to enhancing shareholder value while returning value to our shareholders through the quarterly dividend program.”

    Production, Prices and Revenue: Production for the first quarter of 2025 was 30.5 MBoe/d, towards the high end of the Company’s first quarter guidance but down compared with 32.1 MBoe/d for the fourth quarter of 2024 and 35.1 MBoe/d for the corresponding period in 2024. The first quarter 2025 production decrease was due to freezing conditions that caused shut-ins during January 2025; however production has since recovered. First quarter 2025 production was comprised of 13.7 thousand barrels per day (“MBbl/d”) of oil (45%), 2.2 MBbl/d of natural gas liquids (“NGLs”) (7%), and 87.6 million cubic feet per day (“MMcf/d”) of natural gas (48%).

    W&T’s average realized price per Boe before realized derivative settlements was $46.50 per Boe in the first quarter of 2025, an increase of 17% from $39.86 per Boe in the fourth quarter of 2024 and an increase of 9% from $42.55 per Boe in the first quarter of 2024. First quarter 2025 oil, NGL and natural gas prices before realized derivative settlements were $71.31 per barrel of oil, $23.86 per barrel of NGL and $4.45 per Mcf of natural gas.

    Revenues for the first quarter of 2025 were $129.9 million, which was 8% higher than fourth quarter of 2024 revenues of $120.3 million due to higher realized prices, which was partially offset by lower production volumes. First quarter 2025 revenues were lower by 8% compared to $140.8 million of revenues in the first quarter of 2024 due to lower production volumes, partially offset by higher realized natural gas and NGL prices.

    Lease Operating Expenses: LOE, which includes base lease operating expenses, insurance premiums, workovers and facilities maintenance expenses, was $71.0 million in the first quarter of 2025, which was below the low end of the guidance range of $72.5 to $80.5 million. LOE came in lower than expected due to a combination of lower repair and maintenance costs, lower facility expenses and lower workover expense. LOE for the first quarter of 2025 was approximately 11% higher compared to $64.3 million in the fourth quarter of 2024. Lower LOE in the fourth quarter of 2024 was primarily driven by favorable audit adjustments and lower maintenance and repair work performed. LOE for the first quarter of 2025 was slightly higher than the $70.8 million for the corresponding period in 2024. On a component basis for the first quarter of 2025, base LOE and insurance premiums were $57.6 million, workovers were $2.0 million, and facilities maintenance and other expenses were $11.4 million. On a unit of production basis, LOE was $25.88 per Boe in the first quarter of 2025. This compares to $21.76 per Boe for the fourth quarter of 2024 and $22.14 per Boe for the corresponding period in 2024, reflecting a decrease in production in the period due to freezing conditions in January 2025.

    Gathering, Transportation Costs and Production Taxes: Gathering, transportation costs and production taxes totaled $5.7 million ($2.06 per Boe) in the first quarter of 2025, compared to $5.9 million ($2.00 per Boe) in the fourth quarter of 2024 and $7.5 million ($2.36 per Boe) in the first quarter of 2024. Gathering, transportation costs and production taxes decreased in the first quarter of 2025 from the prior quarters due to lower production volumes.

    Depreciation, Depletion and Amortization (“DD&A”): DD&A was $11.99 per Boe in the first quarter of 2025. This compares to $12.94 per Boe and $10.61 per Boe for the fourth quarter of 2024 and the first quarter of 2024, respectively.

    Asset Retirement Obligations Accretion: Asset retirement obligations accretion was $3.06 per Boe in the first quarter of 2025. This compares to $2.76 per Boe and $2.49 per Boe for the fourth quarter of 2024 and the first quarter of 2024, respectively.

    General & Administrative Expenses (“G&A”): G&A was $20.2 million for the first quarter of 2025, which decreased from $20.8 million in the fourth quarter of 2024 and $20.5 million in the first quarter of 2024 primarily due to decreases of share-based compensation and employee benefit costs partially offset by an increase in legal fees due to ongoing sureties litigation. On a unit of production basis, G&A was $7.35 per Boe in the first quarter of 2025 compared to $7.04 per Boe in the fourth quarter of 2024 and $6.41 per Boe in the corresponding period of 2024. These increases, on a per Boe basis, are related to lower production, as the absolute G&A costs were lower.

    Derivative Loss (Gain), net: In the first quarter of 2025, W&T recorded a net loss of $2.7 million with commodity derivative contracts comprised of $3.6 million of realized losses and $0.9 million of unrealized gains related to the increase in fair value of open contracts. W&T recognized a net loss of $2.1 million in the fourth quarter of 2024 and a net gain of $4.9 million in the first quarter of 2024 related to commodity derivative activities.

    To take advantage of the recent uptick in natural gas prices, W&T added costless collar hedges for March 2025 of 50,000 MMBtu/d with a floor price of $3.88 per MMBtu and ceiling price of $5.13 per MMBtu. For April to December 2025, the Company added similar costless collar hedges of 70,000 MMBtu/d with a volume-weighted average floor price and ceiling price of $4.02 per MMBtu and $5.32 per MMBtu, respectively.

    A summary of the Company’s outstanding derivative positions is provided in the investor presentation posted on W&T’s website.

    Interest Expense: Net interest expense in the first quarter of 2025 was $9.5 million compared to $10.2 million in the fourth quarter of 2024 and $10.1 million in the first quarter of 2024. These decreases reflect the impact of the Company’s debt refinancing in January 2025, which lowered overall debt by around $39 million and reduced the Senior Second Lien Notes’ coupon rate by 100 basis points.

    Income Tax (Benefit) Expense: W&T recognized an income tax benefit of $4.6 million in the first quarter of 2025. This compares to the recognition of an income tax benefit of $1.8 million in the fourth quarter of 2024 and an income tax expense of $1.0 million in the first quarter of 2024.

    Capital Expenditures and Asset Retirement Settlements: Capital expenditures on an accrual basis in the first quarter of 2025 were $8.5 million, and asset retirement settlement costs totaled $3.8 million. The Company continues to expect its full year capital expenditure budget to be between $34 million and $42 million, which excludes potential acquisition opportunities.

    Balance Sheet and Liquidity: As of March 31, 2025, W&T had available liquidity of $155.9 million comprised of $105.9 million in unrestricted cash and cash equivalents and $50.0 million of borrowing availability under W&T’s new revolving credit facility. As of March 31, 2025, the Company had total debt of $350.0 million and Net Debt of $244.1 million. As of March 31, 2025, Net Debt to trailing twelve months (“TTM”) Adjusted EBITDA was 1.8x.

    Debt Refinance: On January 28, 2025 W&T closed an offering of the 10.75% Notes at par in a private offering that was exempt from registration under the Securities Act of 1933, as amended. The Company used a portion of the proceeds from the 10.75% Notes offering, along with cash on hand to (i) purchase for cash pursuant to a tender offer, such of the Company’s outstanding 11.75% Notes that were validly tendered pursuant to the terms thereof; (ii) repay $114.2 million outstanding under the MRE Term Loan; (iii) fund the full redemption amount for an August 1, 2025 redemption of the remaining 11.75% Notes not validly tendered and accepted for purchase in the tender offer; and (iv) pay premiums, fees and expenses related to these transactions. On the closing date of the offering of the 10.75% Notes, the Company completed all actions necessary to satisfy and discharge the indenture governing the 11.75% Notes.

    In conjunction with the issuance of the 10.75% Notes, the Company entered into a new credit agreement which provides the Company with a revolving credit and letter of credit facility, with initial lending commitments of $50 million and with a letter of credit sublimit of $10 million. The credit facility matures on July 28, 2028.

    Concurrently with the debt refinance, W&T recorded a $15.0 million loss on the extinguishment of debt in the first quarter of 2025.

    Non-Core Asset Disposition

    In early 2025, W&T closed the sale of a non-core interest in Garden Banks Blocks 385 and 386, which included net production of approximately 195 Boe/d, for $11.9 million after normal purchase price adjustments. The effective date of the sale was December 1, 2024, and the transaction closed in January 2025. The impact to W&T’s reserves for year-end 2024 were minimal at about 0.12 MMBoe.

    Regulatory Update

    The change of Presidential administration in the early part of 2025 saw promising developments in the oil and natural gas regulatory environment. On January 20, 2025, President Trump issued Executive Order 14154, Unleashing American Energy. Section 3 of that Order directed heads of agencies to review existing regulations to identify agency actions that impose an undue burden on the identification, development, or use of domestic energy resources. The Trump administration also issued Executive Order 14156, Declaring a National Energy Emergency, stating that the United States’ insufficient energy production, transportation, refining, and generation constituted an unusual and extraordinary threat to the nation’s economy, national security, and foreign policy. Furthermore, on February 3, 2025, Secretary Burgum issued Secretarial Order 3418, Unleashing American Energy. Section 4(b) of that Order directed agency officials to prepare an action plan that will include steps to suspend, revise, or rescind certain regulations.

    As it pertains to W&T, on April 8, 2025, pursuant to the above directives from the Trump administration, the Department of Interior, through a joint filing in the U.S. District Court for the Western District of Louisiana (Case no. 2:24-cv-00820), indicated that it will not seek supplemental financial assurance in the Gulf of America except in the case of (a) sole liability properties and (b) certain non-sole liability properties that do not have a financially strong co-owner or predecessor in title and meet other conditions.

    In addition, the Trump administration has issued a number of executive orders aimed at streamlining regulations and reducing the regulatory burden on oil and natural gas companies, increasing federal oil and natural gas leasing, including in the Gulf of America, and expediting U.S. natural resource development.

    Cash Dividend Policy

    The Company paid its first quarter 2025 dividend of $0.01 per share on March 24, 2025 to stockholders of record on March 17, 2025.

    The Board of Directors declared a second quarter 2025 dividend of $0.01 per share which is to be paid on May 27, 2025 to stockholders of record on May 20, 2025.

    OPERATIONS UPDATE

    Well Recompletions and Workovers

    During the first quarter of 2025, the Company performed five workovers that positively impacted production for the quarter. W&T plans to continue performing these low cost and low risk short payout operations that impact both production and revenue.

    Second Quarter and Full Year 2025 Production and Expense Guidance

    The guidance for the second quarter and full year 2025 in the table below represents the Company’s current expectations. Please refer to the section entitled “Forward-Looking and Cautionary Statements” below for risk factors that could impact guidance.

         
    Production Second Quarter 2025 Full Year 2025
    Oil (MBbl) 1,295 – 1,435 5,150 – 5,690
    NGLs (MBbl) 210 – 235 1,020 – 1,140
    Natural gas (MMcf) 8,830 – 9,750 34,880 – 38,560
    Total equivalents (MBoe) 2,977 – 3,295 11,983 – 13,257
    Average daily equivalents (MBoe/d) 32.7 – 36.2 32.8 – 36.3
    Expenses Second Quarter 2025 Full Year 2025
    Lease operating expense ($MM) 71.3 – 78.9 280.0 – 310.0
    Gathering, transportation & production taxes ($MM) 6.6 – 7.4 27.1 – 30.1
    General & administrative – cash ($MM) 14.5 – 16.1 62.0 – 69.0
    General & administrative – non-cash ($MM) 2.4 – 2.8 10.1 – 11.3
    DD&A ($ per Boe)   13.40 – 14.90

    W&T expects substantially all income taxes in 2025 to be deferred. 

    Conference Call Information: W&T will hold a conference call to discuss its financial and operational results on Wednesday, May 7, 2025 at 11:00 a.m. Central Time (12:00 p.m. Eastern Time). Interested parties may dial 1-844-739-3797. International parties may dial 1-412-317-5713. Participants should request to connect to the “W&T Offshore Conference Call.” This call will also be webcast and available on W&T’s website at www.wtoffshore.com under “Investors.” An audio replay will be available on the Company’s website following the call.

    About W&T Offshore

    W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of America and has grown through acquisitions, exploration and development. As of March 31, 2025, the Company had working interests in 52 fields in federal and state waters (which include 45 fields in federal waters and seven in state waters). The Company has under lease approximately 634,700 gross acres (496,900 net acres) spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi and Alabama, with approximately 487,200 gross acres on the conventional shelf, approximately 141,900 gross acres in the deepwater and 5,600 gross acres in Alabama state waters. A majority of the Company’s daily production is derived from wells it operates. For more information on W&T, please visit the Company’s website at www.wtoffshore.com.

    Forward-Looking and Cautionary Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this release, including those regarding the Company’s financial position, operating and financial performance, business strategy, plans and objectives of management for future operations, projected costs, industry conditions, potential acquisitions, sustainability initiatives, the impact of and integration of acquired assets, and indebtedness are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes, although not all forward-looking statements contain such identifying words. Items contemplating or making assumptions about actual or potential future production and sales, prices, market size, and trends or operating results also constitute such forward-looking statements.

    These forward-looking statements are based on the Company’s current expectations and assumptions about future events and speak only as of the date of this release. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, as results actually achieved may differ materially from expected results described in these statements. The Company does not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of such statements, unless required by law.

    Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ including, among other things, the regulatory environment, including availability or timing of, and conditions imposed on, obtaining and/or maintaining permits and approvals, including those necessary for drilling and/or development projects; the impact of current, pending and/or future laws and regulations, and of legislative and regulatory changes and other government activities, including those related to permitting, drilling, completion, well stimulation, operation, maintenance or abandonment of wells or facilities, managing energy, water, land, greenhouse gases or other emissions, protection of health, safety and the environment, or transportation, marketing and sale of the Company’s products; inflation levels; global economic trends, geopolitical risks and general economic and industry conditions, such as the global supply chain disruptions and the government interventions into the financial markets and economy in response to inflation levels and world health events; volatility of oil, NGL and natural gas prices; the global energy future, including the factors and trends that are expected to shape it, such as concerns about climate change and other air quality issues, the transition to a low-emission economy and the expected role of different energy sources; supply of and demand for oil, NGLs and natural gas, including due to the actions of foreign producers, importantly including OPEC and other major oil producing companies (“OPEC+”) and change in OPEC+’s production levels; disruptions to, capacity constraints in, or other limitations on the pipeline systems that deliver the Company’s oil and natural gas and other processing and transportation considerations; inability to generate sufficient cash flow from operations or to obtain adequate financing to fund capital expenditures, meet the Company’s working capital requirements or fund planned investments; price fluctuations and availability of natural gas and electricity; the Company’s ability to use derivative instruments to manage commodity price risk; the Company’s ability to meet the Company’s planned drilling schedule, including due to the Company’s ability to obtain permits on a timely basis or at all, and to successfully drill wells that produce oil and natural gas in commercially viable quantities; uncertainties associated with estimating proved reserves and related future cash flows; the Company’s ability to replace the Company’s reserves through exploration and development activities; drilling and production results, lower–than–expected production, reserves or resources from development projects or higher–than–expected decline rates; the Company’s ability to obtain timely and available drilling and completion equipment and crew availability and access to necessary resources for drilling, completing and operating wells; changes in tax laws; effects of competition; uncertainties and liabilities associated with acquired and divested assets; the Company’s ability to make acquisitions and successfully integrate any acquired businesses; asset impairments from commodity price declines; large or multiple customer defaults on contractual obligations, including defaults resulting from actual or potential insolvencies; geographical concentration of the Company’s operations; the creditworthiness and performance of the Company’s counterparties with respect to its hedges; impact of derivatives legislation affecting the Company’s ability to hedge; failure of risk management and ineffectiveness of internal controls; catastrophic events, including tropical storms, hurricanes, earthquakes, pandemics and other world health events; environmental risks and liabilities under U.S. federal, state, tribal and local laws and regulations (including remedial actions); potential liability resulting from pending or future litigation; the Company’s ability to recruit and/or retain key members of the Company’s senior management and key technical employees; information technology failures or cyberattacks; and governmental actions and political conditions, as well as the actions by other third parties that are beyond the Company’s control, and other factors discussed in W&T Offshore’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q found at www.sec.gov or at the Company’s website at www.wtoffshore.com under the Investor Relations section.

                       
    W&T OFFSHORE, INC.
    Condensed Consolidated Statements of Operations
    (In thousands, except per share data)
    (Unaudited)
                       
        Three Months Ended
        March 31,    December 31,    March 31, 
           2025        2024        2024  
    Revenues:                  
    Oil   $ 87,716     $ 86,778     $ 107,015  
    NGLs     4,772       6,713       7,469  
    Natural gas     35,109       24,203       21,616  
    Other     2,270       2,651       4,687  
    Total revenues     129,867       120,345       140,787  
                       
    Operating expenses:                  
    Lease operating expenses     71,012       64,259       70,830  
    Gathering, transportation and production taxes     5,659       5,912       7,540  
    Depreciation, depletion, and amortization     32,891       38,208       33,937  
    Asset retirement obligations accretion     8,392       8,157       7,969  
    General and administrative expenses     20,157       20,799       20,515  
    Total operating expenses     138,111       137,335       140,791  
                       
    Operating loss     (8,244 )     (16,990 )     (4 )
                       
    Interest expense, net     9,492       10,226       10,072  
    Loss on extinguishment of debt     15,015       —       —  
    Derivative loss (gain), net     2,757       2,113       (4,877 )
    Other (income) expense, net     (316 )     (4,118 )     5,230  
    Loss before income taxes     (35,192 )     (25,211 )     (10,429 )
    Income tax (benefit) expense     (4,615 )     (1,849 )     1,045  
    Net loss   $ (30,577 )   $ (23,362 )   $ (11,474 )
                       
    Net loss per common share (basic and diluted)   $ (0.21 )   $ (0.16 )   $ (0.08 )
                       
    Weighted average common shares outstanding (basic and diluted)     147,598       147,365       146,857  
                             
    W&T OFFSHORE, INC.
    Condensed Operating Data
    (Unaudited)
                             
        Three Months Ended
        March 31,    December 31,    March 31, 
        2025   2024   2024
    Net sales volumes:                        
    Oil (MBbls)     1,230       1,263       1,400  
    NGLs (MBbls)     200       273       343  
    Natural gas (MMcf)     7,884       8,505       8,733  
    Total oil and natural gas (MBoe) (1)     2,744       2,953       3,199  
                             
    Average daily equivalent sales (MBoe/d)     30.5       32.1       35.1  
                             
    Average realized sales prices (before the impact of derivative settlements):                        
    Oil ($/Bbl)   $ 71.31     $ 68.71     $ 76.44  
    NGLs ($/Bbl)     23.86       24.59       21.78  
    Natural gas ($/Mcf)     4.45       2.85       2.48  
    Barrel of oil equivalent ($/Boe)     46.50       39.86       42.55  
                             
    Average operating expenses per Boe ($/Boe):                        
    Lease operating expenses   $ 25.88     $ 21.76     $ 22.14  
    Gathering, transportation and production taxes     2.06       2.00       2.36  
    Depreciation, depletion, and amortization     11.99       12.94       10.61  
    Asset retirement obligations accretion     3.06       2.76       2.49  
    General and administrative expenses     7.35       7.04       6.41  
    (1) MBoe is determined using the ratio of six Mcf of natural gas to one Bbl of crude oil, condensate or NGLs (totals may not compute due to rounding). The conversion ratio does not assume price equivalency and the price on an equivalent basis for oil, NGLs and natural gas may differ significantly. The realized prices presented above are volume-weighted for production in the respective period.
                 
    W&T OFFSHORE, INC.
    Consolidated Balance Sheets
    (In thousands)
    (Unaudited)
                 
           March 31,    December 31, 
        2025     2024  
    Assets            
    Current assets:            
    Cash and cash equivalents   $ 105,933     $ 109,003  
    Restricted cash     1,552       1,552  
    Receivables:            
    Oil and natural gas sales     64,991       63,558  
    Joint interest, net     26,884       25,841  
    Prepaid expenses and other assets     22,570       18,504  
    Total current assets     221,930       218,458  
                 
    Oil and natural gas properties and other, net     691,788       777,741  
    Restricted deposits for asset retirement obligations     22,892       22,730  
    Deferred income taxes     54,332       48,808  
    Other assets     34,004       31,193  
    Total assets   $ 1,024,946     $ 1,098,930  
                 
    Liabilities and Shareholders’ Deficit            
    Current liabilities:            
    Accounts payable   $ 77,978     $ 83,625  
    Accrued liabilities     19,210       33,271  
    Undistributed oil and natural gas proceeds     58,647       53,131  
    Advances from joint interest partners     2,432       2,443  
    Current portion of asset retirement obligations     29,098       46,326  
    Current portion of long-term debt, net     566       27,288  
    Total current liabilities     187,931       246,084  
                 
    Asset retirement obligations     532,753       502,506  
    Long-term debt, net     349,481       365,935  
    Other liabilities     17,381       16,182  
                 
    Commitments and contingencies     20,196       20,800  
                 
    Shareholders’ deficit:            
    Preferred stock     —       —  
    Common stock     2       2  
    Additional paid-in capital     597,271       595,407  
    Retained deficit     (655,902 )     (623,819 )
    Treasury stock     (24,167 )     (24,167 )
    Total shareholders’ deficit     (82,796 )     (52,577 )
    Total liabilities and shareholders’ deficit   $ 1,024,946     $ 1,098,930  
                       
    W&T OFFSHORE, INC.
    Condensed Consolidated Statements of Cash Flows
    (In thousands)
    (Unaudited)
                       
        Three Months Ended
        March 31,    December 31,    March 31, 
        2025     2024     2024  
    Operating activities:                  
    Net loss   $ (30,577 )   $ (23,362 )   $ (11,474 )
    Adjustments to reconcile net loss to net cash (used in) provided by operating activities:                  
    Depreciation, depletion, amortization and accretion     41,283       46,365       41,906  
    Share-based compensation     2,087       3,818       3,032  
    Amortization and write off of debt issuance costs     1,099       1,117       1,292  
    Loss on extinguishment of debt     15,015       —       —  
    Derivative loss (gain), net     2,757       2,113       (4,877 )
    Derivative cash (settlements) receipts, net     (5,326 )     (1,638 )     2,599  
    Deferred income (benefit) taxes     (5,517 )     (1,941 )     733  
    Changes in operating assets and liabilities:                  
    Accounts receivable     (1,935 )     (17,064 )     (17,362 )
    Prepaid expenses and other current assets     547       1,792       433  
    Accounts payable, accrued liabilities and other     (18,858 )     3,831       (852 )
    Asset retirement obligation settlements     (3,771 )     (19,348 )     (3,788 )
    Net cash (used in) provided by operating activities     (3,196 )     (4,317 )     11,642  
                       
    Investing activities:                  
    Investment in oil and natural gas properties and equipment     (6,665 )     (14,124 )     (7,080 )
    Acquisition of property interests     (400 )     —       (80,515 )
    Proceeds from sale of oil and natural gas properties     11,935       —       —  
    Insurance proceeds     58,500       —       —  
    Purchases of furniture, fixtures and other     (103 )     (19 )     (24 )
    Net cash provided by (used in) investing activities     63,267       (14,143 )     (87,619 )
                       
    Financing activities:                  
    Proceeds from issuance of long-term debt     350,000       —       —  
    Repayments of long-term debt     (384,264 )     (275 )     (275 )
    Purchase of government securities in connection with legal defeasance of 11.75% Senior Second Lien Notes     (5,889 )     —       —  
    Premium and debt extinguishment costs     (10,230 )     —       —  
    Debt issuance costs     (11,042 )     (183 )     (312 )
    Payment of dividends     (1,493 )     (1,475 )     (1,469 )
    Other     (223 )     (13 )     (483 )
    Net cash used in financing activities     (63,141 )     (1,946 )     (2,539 )
    Change in cash, cash equivalents and restricted cash     (3,070 )     (20,406 )     (78,516 )
    Cash, cash equivalents and restricted cash, beginning of period     110,555       130,961       177,755  
    Cash, cash equivalents and restricted cash, end of period   $ 107,485     $ 110,555     $ 99,239  

    W&T OFFSHORE, INC. AND SUBSIDIARIES
    Non-GAAP Information

    Certain financial information included in W&T’s financial results are not measures of financial performance recognized by accounting principles generally accepted in the United States, or GAAP. These non-GAAP financial measures are “Net Debt,” “Adjusted Net Loss,” “Adjusted EBITDA” and “Free Cash Flow” or are derivable from a combination of these measures. Management uses these non-GAAP financial measures in its analysis of performance. These disclosures may not be viewed as a substitute for results determined in accordance with GAAP and are not necessarily comparable to non-GAAP performance measures which may be reported by other companies. Prior period amounts have been conformed to the methodology and presentation of the current period.

    We calculate Net Debt as total debt (current and long-term portions), less cash and cash equivalents. Management uses Net Debt to evaluate the Company’s financial position, including its ability to service its debt obligations.

    Reconciliation of Net Loss to Adjusted Net Loss

    Adjusted Net Loss adjusts for certain items that the Company believes affect comparability of operating results, including items that are generally non-recurring in nature or whose timing and/or amount cannot be reasonably estimated. These items include loss on extinguishment of debt, unrealized commodity derivative gain, net, allowance for credit losses, non-recurring legal and IT-related costs, non-ARO P&A costs, and other which are then tax effected using the Federal Statutory Rate. Company management believes that this presentation is relevant and useful because it helps investors to understand the net loss of the Company without the effects of certain non-recurring or unusual expenses and certain income or loss that is not realized by the Company.

                       
        Three Months Ended
        March 31,    December 31,    March 31, 
        2025     2024     2024  
          (in thousands)
          (Unaudited)
    Net loss   $ (30,577 )   $ (23,362 )   $ (11,474 )
    Loss on extinguishment of debt     15,015       —       —  
    Unrealized commodity derivative gain, net     (882 )     (497 )     (1,122 )
    Allowance for credit losses     155       118       84  
    Non-recurring legal and IT-related costs     528       860       758  
    Non-ARO P&A costs     (197 )     (2,763 )     5,352  
    Other     (71 )     (1,302 )     (214 )
    Tax effect of selected items (1)     (3,055 )     753       (1,020 )
    Adjusted net loss   $ (19,084 )   $ (26,193 )   $ (7,636 )
                       
    Adjusted net loss per common share (basic and diluted)   $ (0.13 )   $ (0.18 )   $ (0.05 )
                       
    Weighted average shares outstanding (basic and diluted)     147,598       147,365       146,857  

    (1)   Selected items were tax effected with the Federal Statutory Rate of 21% for each respective period.

    W&T OFFSHORE, INC. AND SUBSIDIARIES
    Non-GAAP Information

    Adjusted EBITDA/ Free Cash Flow Reconciliations

    The Company also presents non-GAAP financial measures of Adjusted EBITDA and Free Cash Flow. The Company defines Adjusted EBITDA as net loss plus net interest expense, loss on extinguishment of debt, income tax (benefit) expense, depreciation, depletion and amortization, ARO accretion, excluding the unrealized commodity derivative gain, allowance for credit losses, non-cash incentive compensation, non-recurring legal and IT-related costs, non-ARO P&A costs, and other. Company management believes this presentation is relevant and useful because it helps investors understand W&T’s operating performance and makes it easier to compare its results with those of other companies that have different financing, capital and tax structures. Adjusted EBITDA should not be considered in isolation from or as a substitute for net income, as an indication of operating performance or cash flows from operating activities or as a measure of liquidity. Adjusted EBITDA, as W&T calculates it, may not be comparable to Adjusted EBITDA measures reported by other companies. In addition, Adjusted EBITDA does not represent funds available for discretionary use.

    The Company defines Free Cash Flow as Adjusted EBITDA (defined above), less capital expenditures, P&A costs and net interest expense (all on an accrual basis). For this purpose, the Company’s definition of capital expenditures includes costs incurred related to oil and natural gas properties (such as drilling and infrastructure costs and the lease maintenance costs) and equipment but excludes acquisition costs of oil and gas properties from third parties that are not included in the Company’s capital expenditures guidance provided to investors. Company management believes that Free Cash Flow is an important financial performance measure for use in evaluating the performance and efficiency of its current operating activities after the impact of accrued capital expenditures, P&A costs and net interest expense and without being impacted by items such as changes associated with working capital, which can vary substantially from one period to another. There is no commonly accepted definition of Free Cash Flow within the industry. Accordingly, Free Cash Flow, as defined and calculated by the Company, may not be comparable to Free Cash Flow or other similarly named non-GAAP measures reported by other companies. While the Company includes net interest expense in the calculation of Free Cash Flow, other mandatory debt service requirements of future payments of principal at maturity (if such debt is not refinanced) are excluded from the calculation of Free Cash Flow. These and other non-discretionary expenditures that are not deducted from Free Cash Flow would reduce cash available for other uses.

    The following table presents a reconciliation of the Company’s net loss income, a GAAP measure, to Adjusted EBITDA and Free Cash Flow, as such terms are defined by the Company:

                       
        Three Months Ended
        March 31,    December 31,    March 31, 
        2025     2024     2024  
        (in thousands)
        (Unaudited)
    Net loss   $ (30,577 )   $ (23,362 )   $ (11,474 )
    Interest expense, net     9,492       10,226       10,072  
    Loss on extinguishment of debt     15,015       —       —  
    Income tax (benefit) expense     (4,615 )     (1,849 )     1,045  
    Depreciation, depletion and amortization     32,891       38,208       33,937  
    Asset retirement obligations accretion     8,392       8,157       7,969  
    Unrealized commodity derivative gain, net     (882 )     (497 )     (1,122 )
    Allowance for credit losses     155       118       84  
    Non-cash incentive compensation     2,087       3,818       3,032  
    Non-recurring legal and IT-related costs     528       860       758  
    Non-ARO P&A costs     (197 )     (2,763 )     5,352  
    Other     (71 )     (1,302 )     (214 )
    Adjusted EBITDA   $ 32,218     $ 31,614     $ 49,439  
                       
    Capital expenditures, accrual basis (1)   $ (8,472 )   $ (12,228 )   $ (3,156 )
    Asset retirement obligation settlements     (3,771 )     (19,348 )     (3,788 )
    Interest expense, net     (9,492 )     (10,226 )     (10,072 )
    Free Cash Flow   $ 10,483     $ (10,188 )   $ 32,423  


    (1)     A reconciliation of the adjustment used to calculate Free Cash Flow to the Condensed Consolidated Financial Statements is included below:

                       
    Capital expenditures, accrual basis reconciliation                  
    Investment in oil and natural gas properties and equipment   $ (6,665 )   $ (14,124 )   $ (7,080 )
    Less: change in accrual for capital expenditures     1,807       (1,896 )     (3,924 )
    Capital expenditures, accrual basis   $ (8,472 )   $ (12,228 )   $ (3,156 )

    The following table presents a reconciliation of cash flow from operating activities, a GAAP measure, to Free Cash Flow, as defined by the Company:

                       
        Three Months Ended
        March 31,    December 31,    March 31,
        2025     2024     2024  
        (in thousands)
        (Unaudited)
    Net cash (used in) provided by operating activities   $ (3,196 )   $ (4,317 )   $ 11,642  
    Allowance for credit losses     155       118       84  
    Amortization of debt items     (1,099 )     (1,117 )     (1,292 )
    Non-recurring legal and IT-related costs     528       860       758  
    Current tax (benefit) expense (1)     902       92       312  
    Change in derivatives receivable (payable) (1)     1,687       (972 )     1,156  
    Non-ARO P&A costs     (197 )     (2,763 )     5,352  
    Changes in operating assets and liabilities, excluding asset retirement obligation settlements     20,246       11,441       17,781  
    Capital expenditures, accrual basis     (8,472 )     (12,228 )     (3,156 )
    Other     (71 )     (1,302 )     (214 )
    Free Cash Flow   $ 10,483     $ (10,188 )   $ 32,423  


    (1)     A reconciliation of the adjustments used to calculate Free Cash Flow to the Condensed Consolidated Financial Statements is included below:

                       
    Current tax (benefit) expense:                  
    Income tax (benefit) expense   $ (4,615 )   $ (1,849 )   $ 1,045  
    Less: Deferred income (benefit) taxes     (5,517 )     (1,941 )     733  
    Current tax expense   $ 902     $ 92     $ 312  
                       
    Changes in derivatives receivable (payable)                  
    Derivatives receivable (payable), end of period   $ 310     $ (1,377 )   $ 1,427  
    Derivatives payable (receivable), beginning of period     1,377       405       (271 )
    Change in derivatives receivable (payable)   $ 1,687     $ (972 )   $ 1,156  
         
    CONTACT: Al Petrie Sameer Parasnis
      Investor Relations Coordinator Executive VP and CFO
      investorrelations@wtoffshore.com sparasnis@wtoffshore.com
      713-297-8024 713-513-8654

    Source: W&T Offshore, Inc.

    Released May 6, 2025

    MIL OSI Economics –

  • MIL-OSI Economics: Euro area bank interest rate statistics: March 2025

    Source: European Central Bank

    6 May 2025

    Bank interest rates for corporations

    Chart 1

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

    (percentages per annum)

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

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

    Table 1

    Bank interest rates for corporations

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

    Data for bank interest rates for corporations (Table 1)

    Bank interest rates for households

    Chart 2

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

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

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

    Table 2

    Bank interest rates for households

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

    Data for bank interest rates for households (Table 2)

    Further information

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

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

    Notes:

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

    MIL OSI Economics –

  • MIL-OSI Economics: Money Market Operations as on May 06, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 6,12,824.24 5.75 2.50-6.85
         I. Call Money 18,781.54 5.84 4.95-5.95
         II. Triparty Repo 3,86,686.15 5.75 5.60-5.85
         III. Market Repo 2,05,367.55 5.73 2.50-6.12
         IV. Repo in Corporate Bond 1,989.00 6.05 6.00-6.85
    B. Term Segment      
         I. Notice Money** 138.00 5.74 5.50-5.90
         II. Term Money@@ 1,129.95 – 5.80-6.20
         III. Triparty Repo 9,272.00 5.88 5.80-5.90
         IV. Market Repo 0.00 – –
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Tue, 06/05/2025 1 Wed, 07/05/2025 6,428.00 6.01
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Tue, 06/05/2025 1 Wed, 07/05/2025 161.00 6.25
    4. SDFΔ# Tue, 06/05/2025 1 Wed, 07/05/2025 1,78,561.00 5.75
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,71,972.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo Fri, 02/05/2025 14 Fri, 16/05/2025 149.00 6.01
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo Thu, 17/04/2025 43 Fri, 30/05/2025 25,731.00 6.01
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,709.21  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     34,589.21  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -1,37,382.79  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on May 06, 2025 9,61,365.89  
         (ii) Average daily cash reserve requirement for the fortnight ending May 16, 2025 9,41,653.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ May 06, 2025 6,428.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on April 18, 2025 2,02,749.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    ^ As per the Press Release No. 2025-2026/91 dated April 11, 2025.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/269

    MIL OSI Economics –

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

    Source: Microsoft

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

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

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

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

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

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

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

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

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

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

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

    About National FFA Organization

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

    About Microsoft

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

    For more information, press only:

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

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

    MIL OSI Economics –

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

    Source: Reserve Bank of India

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

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/270

    MIL OSI Economics –

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

    Source: Reserve Bank of India

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

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

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

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/271

    MIL OSI Economics –

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

    Source: Samsung

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

    Sustainability and Social Change Explored by Youth Around the World
    Launched in the United States in 2010, Solve for Tomorrow is a STEM (science, technology, engineering and math) education competition that has reached more than 2.9 million students across 68 countries over the past 15 years. The program encourages students to propose creative solutions to social issues in their local communities, helping them build essential critical thinking and problem-solving skills.
     
    Starting in 2025 with the introduction of global themes, Solve for Tomorrow will go one step further to evolve into a platform for youth to collaborate and address universal problems that transcend local boundaries.
     
    This year’s global themes are “Environmental Sustainability via Technology” and “Social Change through Sport & Technology with International Olympic Committee.”
     
    “Environmental issues are among the most difficult challenges facing humanity today,” said Soojin Kim, Head of the Corporate Sustainability Center at Samsung Electronics. “We are pleased to join youth around the world on this journey to overcome these issues with technology.”
     
    ▲ A poster celebrating the 15th anniversary of Solve for Tomorrow and introducing the global themes
     
     
    Global Themes Selected Through ‘Together for Tomorrow’ Olympic Partnership
    As the Worldwide smartphone Partner of the Olympic and Paralympic Games last year, IOC and Samsung partnered to launch ‘Together for Tomorrow, Enabling People’ — a digital community created to complement Solve for Tomorrow. The platform aims to engage young people from across the globe with the Olympic Movement and harness the transformative power of technology and sport to drive meaningful change.
     
    During the Olympic Games Paris 2024, 10 students from the winning teams of the previous year’s Solve for Tomorrow program served as ambassadors for “Together for Tomorrow, Enabling People.”
     
    The theme “Social Change Through Sport & Technology” was voted on by the public in the Together for Tomorrow, Enabling People community. Samsung and IOC plan to appoint individuals who exemplify this theme as global ambassadors and collaborate with them to develop solutions.
     
    “We are delighted to work with our Worldwide Olympic Partner Samsung on the creation of this new sport-driven theme,” said Ollie Dudfield, Associate Director of Olympism 365 at IOC. “It’s an exciting step forward in line with the ambitions of IOC’s Olympism 365 strategy — empowering young people around the world to think boldly about how sport and technology can drive positive change.’’
     

    Leveraging Samsung’s Expertise To Strengthen Support for Participants
    Samsung is leveraging its unique resources and expertise to strengthen Solve for Tomorrow. By integrating the Samsung Design Thinking methodology into the program, the company hopes to encourage the development of practical, user-centered solutions. Samsung also plans to expand employee mentoring to help participants further refine their ideas with guidance from experts with real-world experience.
     
    IOC Young Leaders Programme will also have a role to play in helping students understand how sport and technology can mix to generate innovative solutions to social challenges. “Through Samsung Solve for Tomorrow, I’ve learned that even a small idea can spark big change,” said Solve for Tomorrow US ambassador Ngan Huu Kim Le.
     
    “Working alongside friends from around the world motivates me to keep seeking creative solutions for a better future.”
     
    Solve for Tomorrow 2025 recently kicked off in Vietnam and India, and will soon be launched in Indonesia, Türkiye, Singapore and other countries. Spanning months from the qualifiers to the finals, the program will award winning teams, depending on the country, with project incubation funding and support for establishing STEM labs.
     
    “Samsung Solve for Tomorrow has been Samsung’s flagship corporate citizenship initiative for the past 15 years,” said Eddie Cho, Executive Vice President and Head of Corporate Citizenship Office at Samsung Electronics. “We look forward to strengthening the role of the global platform to nurture even more young people into the leaders of tomorrow.”
     
    ▲ The 15th annual Samsung Solve for Tomorrow U.S. Pitch & Reveal Event took place in Samsung DC on April 28. (From left) U.S. National Winner Charter School of Wilmington from Delaware with Yoonie Joung, President of Samsung Electronics North America; Solve for Tomorrow U.S. ambassador Ngan Huu Kim Le
     
    ▲ The India Opening Ceremony took place in IIT Delhi on April 29. (From left) Shubham Mukherjee, Head of CSR & Corp Communication, Samsung SWA; Abhishek Singh, Additional Secretary, Ministry of Electronics & IT; JB Park, President & CEO, Samsung SWA; Shombi Sharp, United Nations Resident Coordinator in India; Prof. Rangan Banerjee, Director, IIT Delhi; Dr. Sapna Poti, Senior Director, Office of Principal Scientific Advisor to the Government
     
    ▲ The opening ceremony of Solve for Tomorrow 2025 Vietnam was held in Hanoi on March 28

    MIL OSI Economics –

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

    Source: Samsung

     
    Samsung, India’s largest consumer electronics brand, today announced the launch of its ultra-premium 2025 models of Neo QLED 8K, Neo QLED 4K, OLED, QLED TVs and The Frame lineup, bringing the revolutionary Samsung Vision AI technology to Indian consumers. At the heart of this launch is the new Samsung Vision AI that delivers an unparalleled home entertainment experience with next-generation AI capabilities. Staying true to its commitment to innovation, Samsung’s latest range redefines how users interact with screens, turning them into intelligent companions that enrich everyday living.
     
    Samsung Vision AI – a cutting-edge technology framework – pairs AI-enhanced picture and sound for maximum performance with personalized experience. Samsung Vision AI is built on three pillars.
     
    AI Mode optimizes picture quality and sound in real time by using advanced deep-learning algorithms that adapt to both content and ambient surroundings, ensuring stunning visuals and immersive audio every time.
    AI Experience personalizes content discovery and settings by learning user preferences over time, delivering a smarter, more intuitive interaction.
    Multi-Device Connectivity seamlessly connects the TV with smartphones, tablets, and other smart devices, enabling effortless content sharing, control, and continuity across the Samsung ecosystem.
     
    “The role of the television in Indian homes has evolved – it’s no longer just about watching content, but about enabling connected, intelligent lifestyles. With the introduction of Samsung Vision AI across our widest-ever premium lineup, we are delivering a future-ready TV experience that goes beyond stunning visuals. Samsung Vision AI ushers in a truly personalized, AI-powered screen experience, where the viewer is more important than what’s being viewed. We are calling this shift ‘It’s Your Show’ – an experience where users are in complete control, with the TV adapting to their unique preferences, habits, and ecosystem. Our new AI TV lineup breathes new life into every frame, setting a new benchmark for cinematic excellence at home. With this new era of AI-powered screens, we are confident of accelerating next-generation TV adoption and strengthening our leadership in India’s premium television segment,” said Viplesh Dang, Senior Director, Visual Display Business, Samsung India.
     
    Samsung Vision AI: Powering a New Generation of Smart, Personalized Entertainment Experiences
     
    Samsung Vision AI represents a major leap in making screens smarter, more intuitive and deeply personal. It transforms televisions into adaptive hubs, responsive to their environment and user behaviours. They seamlessly blend into everyday life, making the TV an intelligent partner rather than just a display.
     
    Several features come together to redefine the big screen experience-
     
    Universal Gesture Control allows users to effortlessly navigate their Samsung Smart AI TV using simple hand movements, eliminating the need for a remote. This feature utilizes AI technology, and a connected Galaxy Watch to recognize gestures, allowing for intuitive control over various TV functions.
     
    AI Upscaling Pro elevates lower-resolution content to near-8K quality, ensuring every detail is crystal clear. Powered by Samsung’s NQ8 AI Gen3 Processor, this feature sharpens images and enhances clarity, delivering a vivid and lifelike viewing experience.
     
    Generative Wallpaper transforms idle screens into dynamic, personalized art canvases, creating visuals that match moods or occasions. Leveraging AI, this feature generates unique 4K images, allowing users to personalize their viewing experience with custom artwork. ​
     
    Multi-Device connectivity keeps users updated about their living environment with real-time alerts and energy monitoring. Integrated with SmartThings, it provides real-time summaries of the home’s status and suggests necessary actions, enhancing peace of mind whether users are at home or away.
    ​
    Pet and Family Care Mode provides peace of mind by detecting unusual activities of pets or family members and by automatically adjusting home settings for added comfort. Utilizing on-device AI, it can detect events such as a dog barking or a baby crying, alerting users when attention is needed.
     
    Samsung’s Most Advanced AI-Powered Neo QLED 8K TV Redefines Visual Display Technology
    Leading the 2025 AI TV lineup is the flagship Neo QLED 8K QN950F, designed to deliver the pinnacle of TV innovation. Powered by the advanced NQ8 AI Gen3 Processor, which employs 768 AI neural networks, this TV brings breakthrough features to life. Ensuring an exceptional viewing experience with crisp details, regardless of the input source, it is encased in an ultra-slim, minimalist Infinity Air design. The Neo QLED 8K QN950F is an object of beauty and a technological prowess, offering a truly immersive and sophisticated cinematic visual display.
     
    The 8K AI Upscaling Pro feature intelligently analyzes and enhances any content to 8K quality, preserving details and textures with remarkable accuracy.
     
    The Glare-Free technology ensures distraction-free viewing even in brightly lit spaces, reducing reflections without compromising colour or contrast.
    Q-Symphony and Dolby Atmos combine to deliver a deeply immersive, multidimensional audio experience by perfectly synchronizing the TV speakers with compatible Samsung soundbars.
    The ultra-fast 240Hz refresh rate ensures fluid motion and razor-sharp visuals, ideal for high-speed action, sports, and next-gen gaming.
     
    AI Mode intelligently optimizes picture and sound based on content type and surroundings, delivering a customized viewing experience.’
     
    The Neo QLED 8K is available in sizes of 85, 75, and 65 inches.
     
    Lineup for All Entertainment Needs: Neo QLED 4K
    The QN90F, QN85F, QN80F and QN70F models headline the Neo QLED 4K lineup. The QN90F features Quantum Matrix Technology Plus with 128 Neural Networks, Motion Xcelerator 165Hz, Glare-Free viewing and a powerful 60W 4.2.2 channel speaker system with Dolby Atmos and Q-Symphony for a cinematic audio-visual experience and Samsung’s signature Neo Slim design with Art Store and Generative Wallpaper support.
     
    Samsung’s   2025 OLED TVs push performance further with NQ4 AI Gen3 Processor supported by 128 Neural Networks, Motion Xcelerator 165Hz, Glare-Free Viewing, and AI Motion Enhancer Pro for exceptional clarity in fast-moving scenes. These models support 100% Color Volume, are PANTONE Validated, and feature a minimalist Infinity One design with Attachable Slim One Connect to reduce clutter.
     
    Samsung has also curated localized Smart Experiences for Indian consumers to include a range of services like gaming, entertainment, education and fitness.’
     
    Cloud Gaming Service enables users to experience AAA games with Plug and Play – with no console or PC required.
     
    Samsung Education Hub helps users to experience Big Screen Learning with live classes, making learning for your kids more interactive and immersive.
     
    TV Key service upscales consumers as there is no requirement for a set-top box as it enables direct transmission of content through the cloud.
     
    Samsung TV Plus provides 125+ national and international channels absolutely free with instant access to news, movies, entertainment and more.
     
    The 2025 Samsung AI TVs come equipped with a built-in SmartThings hub, transforming the television into a central command centre for connected living. This integration allows users to effortlessly connect and control a wide array of smart devices. Additionally, SmartThings Energy offers insights into energy consumption patterns, promoting efficient energy use throughout the home. The platform’s ambient sensing capabilities analyse human movements and environmental sounds, allowing the system to adapt settings such as lighting and temperature to suit daily routines, thereby enhancing comfort and convenience. ​
     
    Fortified with Samsung Knox, a comprehensive security platform that safeguards user data and privacy, high security standards are maintained. It detects and prevent unauthorized changes, blocks phishing websites to protect against malicious sites, and enhanced personal information protection through Samsung Knox Vault.
     
    To ensure a future-ready and secure smart TV experience, Samsung’s 2025 AI TV lineup comes with 7 years of guaranteed OS upgrades at no additional cost. This industry-leading commitment extends the longevity of each device, keeping it up to date with the latest features, security enhancements, and performance improvements. Whether it’s advanced AI functionality or seamless SmartThings integration, consumers can enjoy a consistently premium experience year after year, making their investment in Samsung’s Vision AI-powered TVs truly future-proof.
     
    Price, Offers & Availability
    The 2025 lineup of Neo QLED 8K, Neo QLED 4K, OLED, and The Frame TVs will be available for pre-order from May 7, 2025 across Samsung retail stores, Samsung.com, and leading offline and online retail channels.
     
    As part of the pre-order offer, consumers purchasing Neo QLED 8K, Neo QLED 4K, OLED TVs and The Frame can avail of exciting benefits, such as Free Soundbar worth up to INR 90990, cashback of up to 20%, Easy EMI with zero down payment, lowest EMI starting INR 2990 and up to 30-month EMI tenure. These offers are valid till May 28, 2025.
     
    Samsung’s Neo QLED 8K range starts from INR 272990
    Samsung’s Neo QLED 4K range starts from INR 89990
    Samsung’s OLED range starts from INR 154990
    Samsung’s QLED range starts from INR 49490
    Samsung’s Frame TVs range starts from INR 63990
     
    The 2025 Samsung AI TV lineup is available in a wide spectrum of screen sizes, catering to every viewing preference and space requirement. The range includes 43″, 50″, 55″, 65″, 75″, 77″, 83″, 85″, 98″ and the ultra-large 100” and 115″. From compact personal entertainment zones to immersive home theatres, this diverse selection ensures there’s a perfect AI-powered screen for every room and need.
     
     

    MIL OSI Economics –

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

    Source: Reserve Bank of India

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

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

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

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/274

    MIL OSI Economics –

  • MIL-OSI Economics: State of ransomware in 2025

    Source: Securelist – Kaspersky

    Headline: State of ransomware in 2025

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

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

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

    Ransomware-as-a-Service (RaaS) dominance

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

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

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

    Overall ransomware payments down, average ransom payment up

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

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

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

    Dismantled or disrupted ransomware actors in 2024

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

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

    Some groups disappear, others pick up their work

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

    Ransomware groups increasingly developing their own custom toolkits

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

    General vs. targeted ransomware share

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

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

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

    AI tools used in ransomware development (FunkSec)

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

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

    Bring Your Own Vulnerable Driver attacks continue

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

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

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

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

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

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

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

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

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

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

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

    Emerging threats and future outlook

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

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

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

    Recommendations

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

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

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

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

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

    MIL OSI Economics –

  • MIL-OSI Economics: STATEMENT: CanREA is encouraged by British Columbia’s Clean Power Action Plan

    Source: – Press Release/Statement:

    Headline: STATEMENT: CanREA is encouraged by British Columbia’s Clean Power Action Plan

    Building on the success of the most recent call for power, the Government of British Columbia centres new renewable power procurement in its plan for economic growth.

    Victoria, B.C., May 5, 2025—The Canadian Renewable Energy Association (CanREA) welcomes the Government of British Columbia’s Clean Power Action Plan, announced by Premier David Eby today, which includes a new call for power by the provincial utility, BC Hydro, of 5,000 gigawatts-hours per year of clean energy, including wind and solar.

    The call is expected to be issued by BC Hydro this summer, with electricity purchase agreements targeted to be awarded in early 2026.

    “The BC Hydro 2024 Call for Power resulted in economic development and job creation opportunities for communities across the province,” said Evan Wilson, CanREA’s Vice-President of Policy – Western Canada and National Affairs. “CanREA members are excited by today’s announcement of the new 2025 Call for Power. Judging by the success of the 2024 call, this next call will result in affordable power and clean investment opportunities throughout British Columbia.”

    The Clean Power Action Plan strengthens energy security, accelerates economic growth and reinforces Canada’s leadership in renewable energy. By investing in large-scale clean-power projects and fostering partnerships with Indigenous communities, B.C. is setting a precedent for sustainable development that benefits all Canadians.

    BC Hydro’s 2025 Call for Power builds on the success of the 2024 Call for Power, which saw ten new renewable energy projects go forward, each with First Nations asset ownership of 49% to 51%, with five CanREA member companies representing nine of these ten projects.

    The new Clean Power Action Plan prioritizes new investments in renewable energy, including wind, solar and hydroelectric projects, while supporting Indigenous-led initiatives and local economic development. These efforts will drive innovation, create jobs, and secure a resilient energy future for British Columbians.

    Other highlights include:

    Opening up the opportunity to explore B.C.’s power potential: The province will seek proposals for capacity and baseload electricity projects to meet peak demand and support renewable energy integration. CanREA will work to clarify the role of battery storage in this opportunity.

    Ushering in an expanded era of energy efficiency: Innovators will be invited to propose demand-side management technologies that help businesses and households save energy and reduce costs.

    Investing an additional $12 million in made-in B.C. Clean Technology: The province is also looking to invest more in the B.C. Innovative Clean Energy (ICE) fund.

    Streamlining connections to B.C.’s grid: Efforts will be made to streamline grid connections so homes and businesses can access clean electricity more quickly and affordably.
    “By investing in large-scale clean power projects and fostering partnerships with Indigenous communities, B.C. is setting a precedent for sustainable development that benefits all Canadians,” said Patricia Lightburn, CanREA’s Policy Director for British Columbia.

    “CanREA looks forward to working alongside the province and industry partners to ensure these transformative initiatives deliver the greatest benefits to Canadians, drive innovation, create jobs and secure a resilient energy future.”

    Quotes

    “The BC Hydro 2024 Call for Power resulted in economic development and job creation opportunities for communities across the province. CanREA members are excited by today’s announcement of the new 2025 Call for Power. Judging by the success of the 2024 call, this next call will result in affordable power and clean investment opportunities throughout British Columbia.”
    —Evan Wilson, CanREA’s Vice-President of Policy – Western Canada and National Affairs

    “By investing in large-scale clean power projects and fostering partnerships with Indigenous communities, B.C. is setting a precedent for sustainable development that benefits all Canadians. CanREA looks forward to working alongside the province and industry partners to ensure these transformative initiatives drive innovation, create jobs and secure a resilient energy future.”
    —Patricia Lightburn, CanREA’s Policy Director for British Columbia

    For media inquiries or interview opportunities, please contact:

    CommunicationsCanadian Renewable Energy Association613-227-5378communications@renewablesassociation.ca

    About CanREA

    The Canadian Renewable Energy Association (CanREA) is the voice for wind energy, solar energy and energy storage solutions that will power Canada’s energy future. We work to create the conditions for a modern energy system through stakeholder advocacy and public engagement. Our diverse members are uniquely positioned to deliver clean, low-cost, reliable, flexible and scalable solutions for Canada’s energy needs. For more information on how Canada can use wind energy, solar energy and energy storage to help achieve its net-zero commitments, consult “Powering Canada’s Journey to Net-Zero: CanREA’s 2050 Vision.” Follow us on Bluesky and LinkedIn. Subscribe to our newsletter here. Learn more at renewablesassociation.ca. 
    The post STATEMENT: CanREA is encouraged by British Columbia’s Clean Power Action Plan appeared first on Canadian Renewable Energy Association.

    MIL OSI Economics –

  • MIL-OSI Economics: Xbox showcases Asian and Pacific Islander voices enriching the gaming world

    Source: Microsoft

    Headline: Xbox showcases Asian and Pacific Islander voices enriching the gaming world

    Windbound – Shipwrecked on an uncharted island, explore, adapt and navigate the land and seas to stay alive. You are a warrior, caught at sea and tossed on to the shores of a mysterious paradise. With no boat, food or tools, just the will to survive, craft tools and weapons to hunt and defend yourself against nature itself. Explore and secrets of the past are revealed.

    Play Windbound Today

    Coral Island – Coral Island is a vibrant, laid-back reimagining of farm sims. Be who you want and experience enchanting island living at your own pace. Live off the land, tend animals, build relationships with a diverse cast of townsfolk, and make the world a more harmonious place.

    Play Coral Island Today

    Summer in Mara – Take care of your own island and explore the ocean in this farming adventure. Summer in Mara mixes farming, crafting and exploring mechanics in a tropical archipelago with a colorful style and strong narrative. Unravel the mystery and find your way home.

    Play Summer in Mara Today

    Discover Movies highlighting Asian and Pacific Islander Cultures on Xbox:

    Moana 2 – Walt Disney Animation Studios’ animated musical reunites Moana and Maui three years later for an expansive new voyage alongside a crew of unlikely seafarers. After hearing from her wayfinding ancestors, Moana must journey into long-lost waters for an adventure. Warning: Some flashing-lights scenes in this film may affect photosensitive viewers. 

    Watch Moana 2 Today

    Raya and the Last Dragon – Walt Disney Animation Studios’ “Raya and the Last Dragon” travels to the fantasy world of Kumandra, where humans and dragons lived together in harmony long ago. But when an evil force threatened the land, the dragons sacrificed themselves to save humanity. Now, 500 years later, that same evil has returned and it’s up to a lone warrior, Raya, to track down the legendary last dragon to restore the fractured land and its divided people. 

    Watch Raya and the Last Dragon Today

    Lilo & Stitch – On the lush and tropical Hawaiian Islands, an independent little girl named Lilo adopts what she thinks is an innocent puppy, completely unaware that he is a mischievous creature who has escaped from a faraway planet. 

    Watch Lilo & Stitch Today

    Big Hero 6 – From Walt Disney Animation Studios comes an action-packed comedy adventure about robotics prodigy Hiro Hamada and his personal companion robot Baymax, who team up with a band of unlikely heroes to save the city of San Fransokyo from a criminal plot. 

    Watch Big Hero 6 Today

    Spotlighting Ecco the Dolphin Creator Ed Annunziata

    Q: Ecco the Dolphin has been praised for raising awareness about ocean conservation. What inspired you to use a video game to communicate such an important environmental message, and what do you hope players take away from their experience in the ocean world you created? 
     
    A: Long ago, back in the 8-bit days, I used to make educational games for the Apple II. I knew even then the potential of games to enlighten. I made a bunch of games in 6502 Assembler, or my favorite, Machine Language.

    Eventually, I got to work on ‘Voyage of the Mimi’, a TV show about a young boy (Ben Affleck at 12) and his grandfather, who studied whale migration on his boat, Mimi. It was a great show, and I got to work on the Apple II science games that went along with it.

    Once I started learning about whales (and making games about them), I became obsessed with the subject matter.

    I read everything I could get my hands on. No internet, only libraries and books that I purchased from bookstores. Like the novel, ‘The Sounding’, by Hank Searls. This story was from the point of view of a sperm whale. I was enthralled by the notion that not only were these creatures sentient but probably as smart as we are! 

    My heart was always in video games, even though I made learning games for a living at the time. I started to dream about a game where you experience life as a dolphin. I chose a dolphin because I figured it’s as close to a person as all the whales. But when I considered the actual play mechanics, I had to prototype it. 

    Q: The Pacific Islander community holds a deep spiritual and practical connection to the ocean, which is central to their culture. How do you think games like Ecco the Dolphin can help players understand the significance of ocean preservation and the cultures that rely on it?

    A: Imagine a culture connected directly to the ocean’s ecosystems over generations. Growing and evolving together, humans contribute to the ecosystem rather than taxing it. Over time, they would learn about all the ocean cycles and how to get into sync with them. Anything that fosters a connection between humans and the ocean should be enthusiastically embraced. 

    Q: As a pioneer in the gaming industry, what role do you think the gaming community plays in raising awareness about global issues like environmental sustainability, particularly when it comes to protecting ocean ecosystems? 

    A: If I may be forthright with my bias about gamers. I feel gamers possess a higher than average IQ than the average human. Not only because they are frequently fully engaged and challenged mentally with real-time systems and information technology, but they are highly socially connected as well. Like the ocean, a gaming community is an ecosystem – games like Ecco can and should be a conduit to join these realms.

    A big part of the game is understanding the ocean as a singular biological system that is made up of systems that interact with each other. This is a complex biological dance that humans can be a part of.  

    I have high expectations of gamers for all the above-stated reasons. But there is something else gamers possess that can make the difference, and that is love. A universal love of games and gaming gives us all something we all share, when games like Ecco reach the hearts of gaming communities, that love can really make things happen in the real world.  

    Q: What does the future hold for gaming’s favorite Dolphin?  

    A: Me and the entire original team are going to Remaster the original Ecco the Dolphin and Tides of Time games. Then we will make a new, third game with contemporary play and GPU sensibilities. Stay tuned to eccothedolphin.com

    Gaming with Impact  

    Rewards members in the United States can earn and donate points to organizations supporting Asian and Pacific Islander communities with Xbox. The organizations below will be available on the Rewards hub: 

    • Asian Americans Advancing Justice | AAJC – AAJC works through strategic policy advocacy, active community education, and impactful litigation to advance the civil and human rights of Asian Americans and to build and promote a fair and equitable society for all. 

    Xbox players 18 and older can earn Rewards points in various ways, such as playing games, completing Game Pass Quests (terms apply), and purchasing games and other eligible items at the Microsoft Store (exclusions apply). Start earning for impact today and redeem your points for great rewards. Donate your points on the Rewards hub or on the Rewards redeem page. 

    Wallpapers and Dynamic Backgrounds 

    The Xbox Asian and Pacific Islander Heritage Month design is available today as an Xbox wallpaper and dynamic background on console – follow these steps to apply the dynamic background:  

    • Press the Xbox button on your controller to open the guide.  
    • Select Profile & system > Settings > General > Personalization > My background > Dynamic backgrounds.  

    You can choose between Games, Xbox, or Abstract dynamic backgrounds. Choose the background art that you want with the A button. 

    MIL OSI Economics –

  • MIL-OSI Economics: EIA expects lower crude oil prices and higher natural gas prices through 2026

    Source: US Energy Information Administration – EIA

    Headline: EIA expects lower crude oil prices and higher natural gas prices through 2026

    U.S. ENERGY INFORMATION ADMINISTRATION
    WASHINGTON DC 20585

    FOR IMMEDIATE RELEASE
    May 6, 2025

    The U.S. Energy Information Administration (EIA) expects recent developments in global trade policy and oil production to contribute to lower global demand for petroleum products through 2026, contributing to lower oil prices than it previously forecast.

    In its May Short-Term Energy Outlook (STEO), EIA also forecasts natural gas prices to increase from historic lows in 2024.

    U.S. energy market indicators 2024 2025 2026
    Brent crude oil spot price (dollars per barrel) $81 $66 $59
    Retail gasoline price (dollars per gallon) $3.30 $3.10 $3.10
    U.S. crude oil production (million barrels per day) 13.2 13.4 13.5
    Natural gas price at Henry Hub (dollars per million British thermal units) $2.20 $4.10 $4.80
    U.S. liquefied natural gas gross exports (billion cubic feet per day) 12 15 16
    Shares of U.S. electricity generation       
    Natural gas 42% 40% 40%
    Coal 16% 16% 15%
    Renewables 23% 25% 27%
    Nuclear 19% 19% 19%
    U.S. GDP (percentage change) 2.8% 1.5% 1.6%
    U.S. CO2 emissions (billion metric tons) 4.8 4.8 4.7
    Data source: U.S. Energy Information Administration, Short-Term Energy Outlook, May 2025
    Note: Values in this table are rounded and may not match values in other tables in this report.

    Some key highlights from the May STEO include:

    • Oil supply, demand, and prices: EIA expects the Brent crude oil price to average about $66 per barrel in 2025 and about $59 per barrel in 2026, both significantly lower than the 2024 average of $81 per barrel.
    • Compared with the January STEO—the first STEO to include forecasts for 2026—EIA’s current forecast for global petroleum demand is about 500,000 barrels per day lower. EIA expects lower demand for petroleum products—such as gasoline, diesel, and jet fuel—along with increased oil production will lead to a generally oversupplied oil market, pushing oil prices down; EIA’s May forecast for 2026 oil prices is $8 per barrel lower than its January forecast.
    • As with all EIA forecasts, its forecast for crude oil prices is highly uncertain, specifically related to possible changes in U.S. and global crude oil production and petroleum demand trends. Notably, EIA concluded this forecast on May 1, which was before the latest OPEC+ meeting, on May 3.
    • U.S. ethane: China waived a 125% tariff on U.S. ethane imports it levied in early April. The tariff removal led EIA to expect strong growth in U.S. ethane production and exports. EIA expects the United States to produce nearly 3 million barrels per day of ethane this year and slightly more than 3 million barrels per day of ethane next year, up from 2.8 million barrels per day in 2024. Most of this growth in U.S. ethane production will be exported to supply growing international demand.
    • Natural gas prices: EIA expects natural gas prices to increase to about $4.20 per million British thermal units (MMBtu) on average in the third quarter of 2025. That price is about 80 cents per MMBtu higher than the April average and almost double the price from last year.
    • Electricity generation: EIA expects the U.S. power sector to generate 2% more electricity this year than it did in 2024, but generation from U.S. natural gas-fired power plants declines by 3% in the agency’s forecast, partially driven by rising natural gas prices. EIA expects rising natural gas prices to also contribute to a 6% increase in coal-fired generation.
    • U.S. solar generation continues to increase the most in electricity generation in the STEO forecast, increasing by 34% in 2025 and 18% in 2026.
    • Coal markets: With U.S. coal-fired power plants generating more electricity this year, EIA now expects U.S. coal production to total more than 500 million short tons in 2025, an upward revision from the April forecast.
    • Trade policy assumptions: The U.S. macroeconomic outlook EIA uses in the Short-Term Energy Outlook (STEO) is based on S&P Global’s macroeconomic model. S&P Global’s most recent model reflects the tariffs announced on April 2, but the model was finalized prior to the temporary 90-day tariff suspension granted to certain countries. As a result, EIA’s macroeconomic forecast assumes significantly lower tariffs on China’s products than are currently in place and significantly higher tariffs on countries subject to the 90-day temporary suspension. These differences in tariff rates likely have offsetting effects on the macroeconomic forecast.

    The full May 2025 Short-Term Energy Outlook is available on the EIA website.

    The product described in this press release was prepared by the U.S. Energy Information Administration (EIA), the statistical and analytical agency within the U.S. Department of Energy. By law, EIA’s data, analysis, and forecasts are independent of approval by any other officer or employee of the U.S. government. The views in the product and this press release therefore should not be construed as representing those of the U.S. Department of Energy or other federal agencies.

    EIA Program Contact: Tim Hess, STEO@eia.gov
    EIA Press Contact: Chris Higginbotham, EIAMedia@eia.gov

    MIL OSI Economics –

  • MIL-OSI Economics: [Exploring Good Lock ①] The Ultimate Personalisation Tool: Discover the All-New Home Up

    Source: Samsung

    For Galaxy users eager to express their style, Good Lock by Samsung Electronics is the ultimate tool for device personalisation. With the One UI 7 update, this must-have app now delivers an even more versatile suite of user interface (UI) customisation features tailored to individual preferences.
     
    Among the many enhancements, the upgraded Home Up module stands out — introducing greater design flexibility and significantly expanding home screen customisation capabilities. Samsung Newsroom explores the latest in UI personalisation with an in-depth look at what the new Home Up has to offer.
     
    DIY Home Screen: A Fresh Take on App Layout and Organisation
    ▲ (From left) A comparison of the default Galaxy S25 Ultra home screen and a customized home screen using Good Lock
     
    Breaking away from traditional grids and uniform app icons, the DIY Home Screen feature in Home Up empowers users to design a layout that reflects their unique style. Apps, widgets and folders can all be freely resized and repositioned — much like customising the pages of a planner.
     

    ▲ DIY Home Screen
     
    For a playful touch, users can cleverly conceal app icons underneath decorative elements with sticker and layer tools. Simply add a sticker to the home screen, place it over an app icon and adjust the layer settings. This setup transforms the sticker into a fun shortcut that launches the hidden app when tapped.
     https://img.global.news.samsung.com/za/wp-content/uploads/2025/04/SamsungMobileGood_LockUltimate_Personalization_ToolHome_UpDIY_Home_ScreenHome_Gesture_Animation_main3_595817.mp4
    ▲ Hiding an app underneath a sticker using the DIY Home Screen feature
     
    Show Favorites: Display or Hide the Favourite Apps Row
    The fixed row of favourites at the bottom of the home screen is a familiar element on most smartphones. With Good Lock, however, this default layout is easy to customise. Users who prefer a cleaner, more minimalist aesthetic can disable the Show Favourites option in the Home Up menu for a simplified and refreshed home screen experience.
     https://img.global.news.samsung.com/za/wp-content/uploads/2025/04/SamsungMobileGood_LockHome_UpDevelopers_and_Editors_PicksWonderland_Edge_Lighting_and_Nice_Shot_main4_595813.mp4
    ▲ Show Favourites
     
    Home Gesture Animation: Fine-Tuned Control for Smoother Navigation
    The Home Gesture Animation feature — found under Good Lock > Home Up > Gesture Settings — is perfect for users who want to add a touch of personality to every interaction. The feature offers a unique way to customise the transition animations activated when returning from an app to the home screen, making even the simplest gestures more expressive and enjoyable.
     
    Alongside the four preset animation styles, Advanced Tuning provide granular control over aspects like speed and vibration for a more refined user experience.
     

    ▲ (From left) The Home Gesture Animation feature shown in Classic mode and Sweet mode
     
    The Home Up module within Good Lock offers a set of useful tools for customising device home screens to match personal preferences. In the next article in this series, Samsung Newsroom will spotlight the top three most popular Good Lock features — fan favourites among Galaxy users around the world.
     

    MIL OSI Economics –

  • MIL-OSI Economics: Introducing all new Surface and Windows Copilot+ PC experiences

    Source: Microsoft

    Headline: Introducing all new Surface and Windows Copilot+ PC experiences

    Web Print

    Windows Copilot+ PC Copilot Vision feature

    Web Print

    Windows Copilot+ PC Settings agent feature

    Web Print

    Windows Copilot+ PC Start menu with phone companion feature

    Web Print

    Windows Copilot+ PC Snipping tool feature

    Web Print

    Windows Copilot+ PC Click to Do feature

    Web Print

    Windows Copilot+ PC Recall feature

    Web Print

    Windows Copilot+ PC Photos relight feature

    Web Print

    Windows Copilot+ PC improved Windows search feature

    MIL OSI Economics –

  • MIL-OSI Economics: Apple Arcade adds five new games in June, including UNO: Arcade Edition

    Source: Apple

    Headline: Apple Arcade adds five new games in June, including UNO: Arcade Edition

    May 6, 2025

    UPDATE

    Five new games launch :br(xl)::br(l):on Apple Arcade on :br(xl)::br(l):June 5, including UNO: Arcade Edition, :br(xl)::br(l):and the award-winning :br(xl)::br(l):game WHAT THE CAR? :br(xl)::br(l):for Apple Vision Pro

    Apple Arcade welcomes five new games and exciting updates for hit games on the service next month, offering a seamless experience of uninterrupted fun with no ads or in-app purchases. On June 5, players can enjoy these new games with family and friends, including UNO: Arcade Edition, the official reimagining of one of the most popular card games in the world; LEGO Hill Climb Adventures+, where iconic LEGO worlds and Hill Climb Racing’s physics-based gameplay collide; Lost in Play+, an uplifting and wholesome point-and-click adventure; classic 3D arcade bouncing game Helix Jump+; and WHAT THE CAR? for Apple Vision Pro, a new spatial version of the highly rated racing comedy game.

    New updates to popular Arcade titles include a special Paddington event in Crayola Create and Play+ starting June 26; a new Queens neighborhood in Skate City: New York on May 22; and the arrival of the Diesel himself, Shaquille O’Neal, in the Greatest Mode in NBA 2K25 Arcade Edition on May 8.

    Apple Arcade features more than 200 games, playable across iPhone, iPad, Mac, Apple TV, and Apple Vision Pro.

    UNO: Arcade Edition by Mattel163
     UNO: Arcade Edition features vibrant visuals, exciting Apple Arcade-exclusive gameplay, and multiple ways for UNO fans to play. Players can unwind with entertaining solo matches using classic UNO rules, or turn up the heat with a new Custom Games mode featuring new options like Wild Swap Hands and Color Showdown. With three game modes (Quick Match, Custom Games, and Single Player) and rich customizations — including unlockable creative frames, special effects, and emotes — every game feels fun and fresh. Whether playing solo or enjoying matches with friends and family, UNO: Arcade Edition delivers an entertaining and engaging experience anywhere.

    WHAT THE CAR? by Triband
     Indie developer Triband’s hilarious racing adventure takes on a whole new dimension. Using a floating TV portal with legs and an extendable steering wheel, players with Apple Vision Pro will use their hands — as if holding a physical steering wheel — to maneuver an unconventional race car with constantly changing features, such as legs, wings, and even the common cold. The wacky gameplay elements leverage spatial computing to pop out of the screen, making each race an adventure full of lively twists and turns.

    LEGO Hill Climb Adventures+ by Fingersoft
     LEGO Hill Climb Adventures+ invites players on a grand adventure where the creative charm of LEGO meets the wild physics-based gameplay of Hill Climb Racing. Players will race, explore, and build their way through dynamic locations — from sunny countrysides to the highest mountains and the daunting great below. With a cast of lovable LEGO Minifigures, upgradeable vehicles equipped with unique gadgets, and hidden secrets around every turn, the game offers a perfect mix of discovery, strategy, and action.

    Lost in Play+ by Happy Juice Games and Snapbreak Games
     The 2023 App Store Awards winner for iPad Game of the Year, Lost in Play+ is a journey through childhood imagination with thoughtfully crafted puzzles and colorful characters. Players must help a brother-and-sister duo on an adventure to find their way back home, exploring enchanted forests, outwitting quirky goblins, and befriending magical creatures. The young siblings’ adventure is filled with clever puzzles, minigames, and dreamlike surprises. With no dialogue, point-and-click gameplay, and a handcrafted animation style, Lost in Play+ is a wholesome and delightful interactive cartoon where fantasy and curiosity come to life.

    Helix Jump+ by Voodoo and Orbital Knight
     Helix Jump+ is the classic 3D arcade game and genre-defining hit, reimagined exclusively for Apple Arcade — with reworked haptic, enhanced visual effects, exclusive unlockable skins, and no ads or interruptions. Players will guide a bouncing ball through vibrant, twisting helix towers, timing their drops with precision to avoid traps and smash through platforms in a test of rhythm and momentum.

    Alongside new game launches, Apple Arcade players can also continue to enjoy their favorite titles on the service with regular updates.

    • On June 26, families can join Paddington for a special summer event, featuring a seven-day interactive quest full of heartwarming and colorful adventures, imaginative play, and priceless Paddington moments in Crayola Create and Play+ by Red Games Co.
    • On May 22, players can explore Queens and master 20 new Free Skate goals in Skate City: New York by Snowman and Agens.
    • On May 8, Shaquille O’Neal is the latest Greatest player to be added to the Greatest Mode in NBA 2K25 Arcade Edition by 2K.

    Additional fan-favorite titles getting updates this month include Hello Kitty Island Adventure, Shovel Knight Dig, Katamari Damacy Rolling LIVE, Angry Birds Reloaded, puffies., Grindstone, Fruit Ninja Classic+, Space Invaders Infinity Gene Evolve, and more.

    Pricing and Availability

    • Apple Arcade is available for $6.99 (U.S.) per month with a one-month free trial. Customers who purchase a new iPhone, iPad, Mac, or Apple TV receive three months of Apple Arcade for free.1
    • Apple Arcade is part of Apple One’s Individual ($19.95 U.S.), Family ($25.95 U.S.), and Premier ($37.95 U.S.) monthly plans, with a one-month free trial.2
    • Arcade Originals are playable across iPhone, iPad, Mac, Apple TV, and Apple Vision Pro. App Store Greats are available on iPhone, iPad, and Vision Pro.
    • An Apple Arcade subscription gives a family of up to six unlimited access to all the games in its catalog.
    • Availability for the 200+ games across devices varies based on hardware and software compatibility. Some content may not be available in all areas.
    1. This offer is available to new subscribers only. One subscription covers one Family Sharing group. The offer is good for three months after eligible device activation. The plan automatically renews until canceled. Restrictions and other terms apply.
    2. The Apple One free trial includes only services that are not currently used through a free trial or a subscription. The plan automatically renews after the trial until canceled. Restrictions and other terms apply.

    Press Contacts

    Peter Nguyen

    Apple

    pete_nguyen@apple.com

    Jennifer Tam

    Apple

    jennifer_tam@apple.com

    Apple Media Helpline

    media.help@apple.com

    MIL OSI Economics –

  • MIL-OSI Economics: Samsung Introduces New Tap to Transfer Feature for Samsung Wallet

    Source: Samsung

    Samsung Electronics America today announced that starting later this month, Samsung Wallet’s new Tap to Transfer1 feature will make peer-to-peer (P2P) payments quick and convenient in the U.S. Whether you’re paying a friend back for buying group tickets or sending them your portion of the dinner bill, stressing over how to pay for shared expenses is a thing of the past. Now, funds arrive within minutes,2 meaning you no longer need to wait for funds to transfer between bank accounts — all it takes is a tap to transfer.

    Through Samsung’s collaboration with Visa3 and Mastercard,4 you can use a debit card stored in your Samsung Wallet to send money to friends and family members’ bank accounts without needing to download an additional app. Instead, Samsung Wallet uses NFC technology to connect to the recipient’s debit card stored in their digital wallet. Plus, you can even transfer money to people without a digital wallet as long as they have a physical debit card with tap-to-pay capabilities. It works by Samsung Wallet connecting to the chip in their debit card, just like when paying in a store. If you want to send money to a Samsung Wallet but they aren’t nearby, you can easily find their Samsung account by searching their phone number and completing the transfer remotely.
    “Samsung Wallet is a powerful tool readily available on millions of Galaxy smartphones, and with this update, we’re taking the experience to the next level,” said Drew Blackard, Senior Vice President of Mobile Product Management at Samsung Electronics America. “Many users want the flexibility to accomplish their most frequent and important tasks on their mobile device. Samsung Wallet will help make payments to friends and family quick and convenient.”

    Samsung Wallet is designed to simplify your life by ensuring your most important information is conveniently available on your mobile device — from your drivers’ license to your credit cards. Inside Samsung Wallet, you can easily browse all your digital items. Whether you’re looking for a boarding pass, loyalty card, gym membership, or even a gift card from years ago, Samsung Wallet keeps you connected to your digital essentials. For many college students, that even includes your often misplaced student ID.
    To learn more about Samsung Wallet features and device compatibility, visit https://www.samsung.com.

    MIL OSI Economics –

  • MIL-OSI Economics: Diagnosed incident cases of B-cell non-Hodgkin’s lymphoma to reach nearly 230,000 in 2033 across 7MM, says GlobalData

    Source: GlobalData

    Diagnosed incident cases of B-cell non-Hodgkin’s lymphoma to reach nearly 230,000 in 2033 across 7MM, says GlobalData

    Posted in Pharma

    The diagnosed incident cases of B-cell non-Hodgkin’s lymphoma (B-cell NHL) in the seven major markets (7MM*) are projected to increase from 200,844 in 2023 to 229,804 in 2033, with an annual growth rate (AGR) of 1.44%, while five-year diagnosed prevalent cases will increase from almost 634,000 to over 714,000 at an AGR of 1.26%, forecasts GlobalData, a leading data and analytics company.

    GlobalData’s latest report “B-Cell Non-Hodgkin’s Lymphoma: Epidemiology Forecast to 2033,” estimates that in 2033, the US will have the highest number of diagnosed incident cases of B-cell NHL across the 7MM with over 106,600 cases, whereas Spain will have the lowest number with approximately 9,500 cases. Similarly, the US is projected to have the highest number of five-year diagnosed prevalent cases at almost 356,600 compared to Spain with lowest number of cases at nearly 28,000.

    Zachary Natale, MPH, Senior Epidemiologist at GlobalData, says: “Despite the progress that has been made, B-cell NHL remains a complex spectrum of malignant neoplasms, each of which exhibits idiosyncratic clinical manifestations and behaviors.”

    Though early detection and improved therapeutics have improved the prognosis for countless B-cell NHL patients, its wide-ranging clinical courses on account of subtype-specific disease behaviors and treatments makes B-cell NHL a challenging cancer to manage, especially among less prominent subtypes such mantle cell lymphoma.

    Natale concludes: “Due to its heterogenous impact on the clinical course of patients, it is imperative for healthcare workers, public health professionals, and researchers to develop a more nuanced understanding of B-cell NHL’s subtypes to best address them as respective diseases.”

    *7MM: The US, 5EU (France, Germany, Italy, Spain, the UK) and Japan.

    MIL OSI Economics –

  • MIL-OSI Economics: Tariffs intensify regulatory pressures for global medical device manufacturers, says GlobalData

    Source: GlobalData

    Tariffs intensify regulatory pressures for global medical device manufacturers, says GlobalData

    Posted in Medical Devices

    As global trade tensions continue to shape the economic landscape, the medical device industry is facing regulatory hurdles tied to shifting tariffs. While tariffs primarily aim to protect domestic industries, their secondary effect is complicating compliance processes and adding pressure to already stringent regulatory pathways, says GlobalData, a leading data and analytics company.

    When crucial materials and parts are subjected to tariffs, many medical device manufacturers are forced to rethink their supply chains, switching suppliers, adjusting designs, or moving production locations. These changes, while necessary to manage rising costs, can inadvertently trigger regulatory actions. In the US, even modest alterations to device components may require new FDA 510(k) notifications or amendments to existing approvals, resulting in potential delays to product availability and added compliance costs.

    Elia Garcia, Medical Analyst at GlobalData, comments: “For multinational manufacturers, managing compliance across several jurisdictions becomes increasingly burdensome under these conditions. Regulatory timelines are stretched, innovation cycles are disrupted, and internal resources are redirected towards navigating evolving trade and compliance dynamics.”

    Some medical device manufacturers have already experienced increased costs due to tariffs on components produced overseas. In response, several companies have considered relocating parts of their manufacturing operations domestically to reduce trade exposure. However, these shifts often require updates to regulatory documentation and revalidation of production processes. Such changes can lead to additional approval steps in multiple regions, including the European Union and Canada, among others, ultimately increasing the complexity and cost of maintaining regulatory compliance.

    Garcia concludes: “As the medical device industry continues to adapt to global economic shifts, manufacturers are calling for greater alignment between trade policy and regulatory frameworks to support patient access, innovation, and operational resilience.”

    MIL OSI Economics –

  • MIL-OSI Economics: Australia card acquiring market to hit $700 billion in 2025 as growth set to slow amid global uncertainty, says GlobalData

    Source: GlobalData

    Australia card acquiring market to hit $700 billion in 2025 as growth set to slow amid global uncertainty, says GlobalData

    Posted in Banking

    The Australian card acquiring market is projected to grow by 5.5% to reach AUD1.1 trillion ($713.4 billion) in 2025. Despite this growth, global economic uncertainty linked to recent US tariffs may weigh on momentum, slowing the pace of expansion compared to previous years of stronger performance driven by cashless trends and consumer spending, according to GlobalData, a leading data and analytics company.

    GlobalData’s Merchant Acquiring Analytics reveals that the card acquiring value in Australia registered a growth of 7.5% in 2024, driven by the rise in consumer spending and increasing consumer preference for cashless transactions. However, the current global uncertainty because of latest US tariffs can pose a challenge for the Australia’s overall economic growth, which is expected to impact even payment industry resulting a slower growth in card acquiring value in 2025.

    Asha Lalitha, Senior Banking and Payments Analyst at GlobalData, comments: “Domestic transactions with Australian-issued cards dominate the acquiring space in the country, accounting for over 97% of the total value of acquiring transactions. Well-established card acceptance infrastructure, nearly-100% banking population, and the burgeoning e-commerce market are all contributing to this.”

    The number of POS terminals per one million inhabitants in Australia rose from 36,012 in 2020 to 40,055 in 2025. In addition to the traditional POS terminals, companies are offering POS solutions designed to target SMEs. For instance, Fiserv launched “Clover” POS solution in March 2025, especially targeting SMEs operating in the hospitality, service, and retail sectors.

    Debit cards accounted for 59% of the total domestic card acquiring value in 2024. Credit and charge cards, on the other hand, accounted for 75.3% share in the total foreign card acquiring value, supported by high usage of foreign issued credit and charge cards for purchases of goods and services in Australia both online and in-person.

    Traditional banks such as Commonwealth Bank (CommBank), Westpac, and National Australian Bank held significant share in Australia’s card acquiring space, accounting for around 60% of total acquiring value in 2024. CommBank is the leading operator in the Australian merchant acquiring market. The bank offers a wide range of POS terminals, including mobile POS terminals. In May 2023, CommBank rolled out the Smart Mini reader for small businesses, enabling them to accept all types of card payments. The terminals are equipped with features such as surcharging, tipping, and digital receipts.

    In addition to banks, non-bank financial institutions such as Tyro, Worldline, and Fiserv also have a presence in the acquiring space in the country.

    Asha concludes: “The Australian card acquiring market is projected to grow at a compound annual growth rate (CAGR) of 5%, reaching AUD1.3 trillion ($866.7 billion) by 2029. This growth is supported by strong consumer awareness of digital payments, wider merchant acceptance, and a rising preference for contactless and e-commerce transactions.”

    MIL OSI Economics –